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RECEIVERS OF YELLOWSTONE VALLEY BANK SUE FEDERAI RESERVE BANK ValCharge That Federal Reserve Bank Looted Yellowstone ley Bank of Depositors Assets Few Days Before the Bank Closed Its Doors. SEEK TO HAVE THE MONEY RETURNED TO BANK ley bank was insolvent, and its inSidney.-Alleging Federal bank of had solvency known to the said federal Reserve withdrawn Minneapolis that the from the defunct Yellowreserve bank. agents of that institustone Valley Bank tion caused to be removed from the a few days before its certain bank, within a few days of its closdoors, more pany, than securities and Trust it valued closed com$238,000, C. L. ing, notes and securities valued at filed a $238,986.22 without advancing any additional sum by reason thereof. for thorizing receiver, court here praying petition an in Teisinger, order district au- at This action of the federal reserve him to institute bank, Mr. Teisinger asserted. gave it ceedings per. for the recovery proper of the pro- paan undue advantage over depositors Judge The Leiper. petition was granted by and other creditors of the closed Yelpetition lowstone Valley bank and indicated that it was seeking to obtain a greatthat prior to In the forth his Receiver the insolvency Teisinger er proportionate share of its property Trust of Yellowstone Valley Bank and than depositors and other creditors. company, it obtained loan He asked authorization to institute $100,000 bank from the Federal a of suitable proceedings to enforce an ace time of Minneapolis, at the Reserve counting of the said $238,986.22 and remidescounting notes of its same any sums in addition which might further amounting to $128,214.12. cus- No or additional loan have been heretofore collected in that manner by the federal reserve bank. cured, yet while the Yellowstone was Val- pro-
