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APPOINT RIVERDALE MAN BANK RECEIVER Paul Bywater to Take Charge of Midland County Savings Bank Paul D Bywater has receiver Midland County Bank failure caused charges of embezzleagainst the Gordans, father institubank one the examiners the the the Mr. to and missed as they lived life Bywater of the
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MIDLAND BANK RECEIVERS SUED FOR $530,000 Midland, Sept. $530,000 were filed Suits Stewart and Rollin against D. Newland, D. G. Mode Gordon, James Hayden in the office and the Midland county Monday afternoon. The plaintiffs are the of defunct Midland receiver County Savings bank of which Stewart Gordon president, the Midland and the county of Midland. Of the $400,000 is included suits the each filed D. the follows the refusal of the Gordons their assets the receiver for distribution creditors, result of which sentence the was advanced one year three and that the father from three years to six. Currie, attorney for the city filed for $50,000 against the two D. Newland, and James Hayden. The five signed as sureties that the the city, aggregating almost $50,000 in the bank, would be guaranteed. The county through Chester E. Morris, filed suit for against the Mode who acted as sureties for the county.
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MIDLAND BANK HEADS GET LONG JAIL TERMS Sept. Stewart B. Gordon, 63, president of the Midland County Savings bank, was sentenced from to 20 years in the Michigan state today, of making false report the banking His Rollin the defunct bank, was sentenced from to 20 years on the same charge. Judge Herman Dehnke of Harrisville, sitting circuit nounced sentences mended minimum penalty in The Midland bank was closed by the state some time ago after alleged fraud The Gordons pleaded but they were attempting the bank.
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BANK RECEIVER-SUES SURETIES AT MIDLAND Aggregate of $530,000 Is Demaded in Court Action In Bank Failure. Suits aggregatin $530,000 have been filed against Stewart B. and Rollin C. Gordon, D. A. Newland. D. G Mode and James Hayden here. The plaintiffs are the receiver of the defunct Midland County Savings bank of which Stewart Gordon was president, the city of Midland and the county of Midland. Of the total. $400,000 is included in two suits against the Gordons of $200,000 each filed by Paul D. Bywater. receiver of the bank. The suit follows the refusal of the Gordons to turn over their assets to the receiver for distribution to the creditors, as result of which the sentence of the son was advanced from one year to three years at Ionia, and that of the father from three years to six. G. A. Currie. attorney for the city of Midland. filed suit for $50,000 against the two Gordons, D. A. Newland. Douglas G. Mode and James Hayden. The five men signed bonds 25 sureties that the deposits of the city. aggregating almost to $50,000 in the bank, would be guaranteed. The county of Midland through Prosecuting Attorney Chester E. Morris, filed suit for $80.000 against the two Gordons and Mode and Newland. who acted as sureties for the county. It was stated that Newland Hode and Hayden were willing to pay their share of the loss as sureties. but merely wanted to hold off payment until the course of action taken by the Gordons would be seen. When the Gordons refused to turn over their assets to the bank. they were forced to protect their own interests by holding out their share of the payments.