cb6605f5None
Click image to open full size in new tab
BUCHANAN STATE RECEIVER IS APPOINTED Harry Boyce, Buchanan city supervisor, was named temporary receiver of the Buchanan State bank which closed two weeks ago. The appointment made by Circuit Judge Charles E. White WAS filed late Saturday by State Attorney Paul Voorheis and his assistant, Wendell Brown. Supervisor Boyce filed the required $25,000 bond from the Royal Indemnity Co., of New ork.
Click image to open full size in new tab
Berrien County News Briefs ST. JOSEPH-A readjustment of the salaries of receivers of state banks in Berrien county was announced by Judge Charles E. White. On recommendation of the state banking department, the judge signed orders which reduce the salaries of the various receivers, effective May Judge White stated that the fixing of salaries for bank receivers on the new scale met with the approval of the state banking department. The reductions were as follows: Berrien County bank, Benton Harbor, from $6,500 to $4,800, Benton Harbor State bank, from $6,000 to $4,800. Bridgman State bank, from $5,000 New Buffalo State bank, from $2,500 to $2,000. Stevensville State bank, from $4,000 to $2,800. Buchanan State bank, from $4,000 to $3,000. BENTON HARBOR-Warm balmy spring weather has not only brought out blossoms and buds for festival week, but has attracted tropical visit ors to the twin citles in the form of a blonde haired tarantula and a pair of alligators. Thursday morning, while unloading bananas at the A. & P. store on East Main street in Benton Harbor, a large tarantula was discovered. He was promptly but cautiously deposited in a large glass jar. The giant spider differs from the several that have been seen here from time to time in that its hair is light brown rather than On display in the meat window of the same store are pair of alligators, who slither slowly around a display of lobsters and yawning "toothfully" at spectators. BENTON HARBOR-The Blossom Queens' Alumni association, an organizatoion comprised of former queens from various cities of Michigan, was formed Wednesday evening at a banquet in the Wisteria room at the Hotel Vincent, at which a number of 1931 queens were the guests of Elwyn Simmons, a member of the Blossom festival committee. Those in attendance were the 1931 queens from Niles, Berrien Springs, Bridgman, Three Oaks, Three Rivers, Dowaglac, South Haven, Ypsilanti, Watervliet, Sturgis and Flint. Officers were elected as follows: President, Mrs. Leo Dwan; vice president, Mrs. George Parren: secretary, Gussie Leder, of Bridgman; Angelita Harmes, South Haven, and Therese Briggs, St. Joseph, co-chairmen. The purpose of the organization is to help sponsor worthwhile projects pertaining to the success of future Blossom week events, such as helping girls to enter queen cotnests, sponsoring floats and other enterprises. Annual dues are to be 50 cents each, and it is expected 600 members will enter the organization as a starter. Each 1931 queen is expected to get her predecessors to join this organization. This year's queens will be eligible for membership after Sunday. BRIDGMAN-William Baldwin, 87 for nearly 80 years a resident of Livingston, died Thursday morning at his farm home \after a long illness. He had been confined to his bed the last six months. Mr. Baldwin was born in Pennsylvania Feb. 11, 1835, and removed with his parents to Michigan at an early age. The deceased is survived by two daughters, Mrs. Al Fuller and Mrs. Allson Post, both of Livingston. Funeral services will be conducted at two o'clock Saturday from the residence and at 2:30 o'clock from the Methodist church at Bridgman. Burial will be in Greenwood cemetery at Bridgman.
Click image to open full size in new tab
PAID OUT SOON 2ND DIVIDEND Payment by Buchanan State Bank Authorized by Judge White The closed Buchanan State bank Buchanan will pay its second 10 per cent dividend within days, was made known today. Authorization of the dividend was contained in an order signed by Judge Charles White and filed in Berrien county circuit court today Petition for the second dividend was filed by Phillip Landsman, behalf of the bank's receivBoyce The asserts will be paid to depositors the second savings depositors and $17,885.94 to commercial depositors. Receiver Boyce paid the first per dividend August the Buchanan bank's latest dividend the second Berien county within the past Worth Bean, receiver for the Berrien County announced Saturday that the Benton Harbor would pay first dividend of 20 per cent Approximately 2,500 depositors will $125,612.
Click image to open full size in new tab
White Authorizes Two Closed Banks to Make Postal Fund Payments Two orders were signed by Judge Charles White in Berrien county circuit court today authorizing payment of postal deposits in two closed banks in Berrien county. This the third order Judge White has signed granting the payments of postal deposits as preferred claims. The orders signed today grant the payment of postal deposits the Benton Harbor State bank to the Benton Harbor postmaster. The tition order were approved Attorney H. Gray, who represents the bank. The second order granted the paythe "Postmaster Money Order Account' in the Buchanan State bank to the postmaster general, petition approved the of Burns Hadsell, which represents the bank receiver. Two months ago the court granted order payment posdeposits in the Stevensville bank.
Click image to open full size in new tab
Buchanan Bank Receiver Asks Injunction to Halt Sale of Store Property An injunction and a receivership is asked in a suit filed in Berrien county circuit court today by Harry Boyce, receiver for the Buchanan State bank, against Louis O. Runner, Charles A. Lutz, Frank Gunther, R. H. Johns and Matt J. Kelling. According to the bill of complaint filed by Attorney Phil Landsman and the law firm of Burns & Hadsell, which represents the bank receiver, Runner, a Buchanan hardware dealer, owes the bank $3,550 and proposes to dispose of the property and give a chattel mortgage on the merchandise. The bank receiver asks that the defendants be restrained by an injunction from disposing of the property and that the court appoint a receiver to protect the creditors.
Click image to open full size in new tab
BUCHANAN BANK SIFT BY GRAND JURY IS HINTED Preliminary Testimony Is Taken from Score of Witnesses Preliminary testimony in the state's investigation determine whether grand jury will be called to probe the affairs of the closed Buchanan State bank was taken yesterday. Attorney Leo Moriarty from the attorney general's took testimony all yesterday at the Buchanan bank from nearly witnesses, Prosecuting Attorney Harvey Holbrook revealed today. Attorney Moriarty took preliminary statements from Benton township residents are seeking grand jury investigation of township affairs. These statements were taken last night at the Hotel Vincent The assistant attorney general turned to Lansing today. He will turn next week, however, to continue the preliminary investigations which will determine whether grand jury investigation will be made these and other matters, Prosecutor Holbrook intimated today there is likelihood of grand jury investigabeing made the Buchanan State bank affairs. The bank has been closed since October, 1931 Enemies Supervisor James Jakway are pushing their demand for an investigation of Benton township affairs, despite report made by David Peck, from the auditor general's department who audited the township books last year report, made public recently exonerated Supervisor Jakway from any misfeasance malfeasance in office Supervisor Jakway renominated by both the Democratic and Citizens parties in the township caucus held last week Other matters which the attorney general's office intends inquire into in Berrien include the activities of collection agencies Prosecutor Holbrook announced today that collection agencies operating now without filed the proper bond required by law will be without waiting for any possible grand jury investigation
Click image to open full size in new tab
RECEIVERS Salaries, Effective July Announced by White new schedule of salaries for ceivers of closed state banks Berrien was today Judge Charles White in the Berrien circuit court. Letters advising the receivers that their would be reduced on July salaries and fees fixed by the state banking have been mailthe receivers. The new salary schedule for reivers of banks Berrien' county follows: Worth receiver for the Berrien County bank, reduced from $3,600 to $2,500. Harry Boyce, Buchanan State bank, reduced from 2,000. Herbert Roe, receiver of the New Buffalo State bank, reduced from $1,500. Gore, an State bank, reduced from $3,000 $1,800. This the second reduction in ceivers' salaries which has made through the court and state banking department since the receivers were first some the cuts now more than per cent. case of Bean of the Berrien County bank the first placed and now to the been made in the salaries bank the of the state banking depart-
Click image to open full size in new tab
SALARIES OF RECEIVERS Axe Falls On Pay Of Those In Charge Of Berrien Institutions Receivers for state banks in Berrien county will draw less pay after July Orders just issued by Circuit Judge White call for in the salbank receivers running the way from $1,000 to Judge White's salary reduction orders follow issued the state banking department Lansing. The salary reductions include the following W. Worth Bean, receiver for the Berrien County bank, reduced from to $2,500. Harry Boyce, Buchanan State bank, reduced from $3,000 to $2,000. Herbert Roe, receiver the New Buffalo State bank, reduced from $2,500 Gore, Bridgman State bank, reduced from $3,000 $1,800. This the second reduction in ceivers' salaries which have been made through the court the state banking department since the various receivers were first appointed some instances the cuts now amount to more than percent. In the case Receiver Bean the Berrien County bank the salary was first placed $6,000 and down $2,500. Similar cuts all over the state been made the salaries bank upon the recommendation of the state banking department.
Click image to open full size in new tab
BUCHANAN BANKERS NAMED IN WARRANTS Buchanan. June directors the Buchan State bank charged with accepting deposits after they the bank rants issued yesterday the Peace Thomas The bank has been closed 1931. Those named in the warrants Charles Landis. Jesse William George Richards and Herbert Roe Roe the cashier of the bank well director. He charged with embezzlement in additional warrants HELD BY POLICE. Port Huron, June being held Boney police today pending tion his story that he shot says Barnes defense after Brown broke into his home. Po found body on couch Hunter's home.
Click image to open full size in new tab
Gore Harvey for legal work in connection with suits brought against closed banks, including First National Bank Buchanan, Buchanan State and the Berrien County bank Benton The firm Gore Harvey were appointed legal advisors with the prosecuting attorney the judiciary handling the lection of county funds in closed banks
Click image to open full size in new tab
STATEMENT OF CLOSED BANK IS RELEASED BUCHANAN Following issued June 1933 First National bank of Buchanan showing the condition of that instituBusiness in this bank was suspended October 16, 1931, W. R. Payne the receiver. Assets date of suspension, $655,additional assets acquired, (book value, not actual) $26,847.75; Stock assessment, one hundred percent. Total cash collected from assets and stock assessment, $361,414.26. Offset allowed on assessments $36,854. Total losses charged off, Total assets accountfor, $732,154.98. Total liabilities, this date, Total liabilities accounted for $555,315.68. Total collections to be accounted for, $433,916.56. Since the bank closed its doors twe dividends have been paid to its depositors to 55 percent and aggregating The Buchanan State bank which closed doors the same time has paid dividends twice, 10 percent each time and totalling approximately
Click image to open full size in new tab
NEW BUCHANAN-GALIEN BANK OPEN JULY BUY BUCHANAN BLDG. June 28 (Special) Buchanan business men and residents will have banking facilities for the first time since October, 1931, the result of the purchase of the Buchanan State Bank building and fixtures the new State The new bank will open in the old State bank building July 18, and will continue maintain branch Galien. The new bank recently changed its name from the Galien State bank to the State bank and increased capitalization from to Judge Charles White in the Berrien county court signed an order authorizing Boyce the old bank receiver, to sell the bank and fixtures. Under the terms of the Mr. will continue to operate the receivership the Buchanan State bank in the building without rental costs. bank building will be completeredecorated.
Click image to open full size in new tab
State Receivership to Have Directors Quarters in Bank force is engaged replastering the Buchanan State Bank quarters by the Galiensoon to be occupied State Bank. The State Buchanan Harry and Bank Roe, will the his clerk, Lee occupy back room, formerly the director's the remainder the for trust.
Click image to open full size in new tab
State Department Comments Record of Dividend on ment; To Pay in Cash. dividend of 15% will be paid to of the Buchanan depositors State Bank by Receiver Harry Boyce beginning Saturday the dividend and bringing the dividends paid date to The order for the release of the dividend was signed by Judge White Monday and Charles then approved by the state banking and the funds department leased by the state treasurer. The department comstate banking mented on the excellence of the record of the local institution dividends in comparipayment other banks under isdiction The arrangements the dividend made thru the firm of Landsman. local legal Burns Hadsell. Receiver Bovce stated that intimation made earlier that the dividend pending was made was the of the the Home Owners Loan Corporation, but that being made without recourse to HOLC loans.