First National Bank (Wausa, NE)

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BANK IS REORGANIZED AND CHANGED BANK

Citizenso Wausa have combined to effect the most successful bank reorganization ever brought about under the supervision of state banking authorities, state charter having been issued to the former Commercial National bank there last week. The reorganization called for strenuous work by Wausa people. Before the charter was granted for state bank, it was necessary for some Wausa people to put up cash and pledge their credit personally to take up $157,000 of bad paper in the old Commercial National bank, and to sign contract payment of all the remaining loans, amounting to $250,000, by January 1927. Two complete examinations of its accounts and assets were made before the change was affected. The new bank, which is to be known as the Commercial State bank, has 52 local stockholders. A. H. Banks, one of the wealthiest men of the Wausa community heads this list, as he has acquired $33,800 of the $50,000 capital stock. He to be the president of the new bank. L. Swanson and Leonard Johnson are' to be associated with him as directors, Mr. Johnson also being the vice-president. Renard and Charles Cook, mer president and vice-president, are not to be connected with the managemnt of the reorganized bank. Cook, cashier of the old bank, and Renard, the assistant cashier, will retain the same positions in the new bank. The stock ownership in practically all new hands. Secretary of Trade and Commerce Griggs very much pleased over the way the Wausa people have cooperated to get the bank going. At previous date he had refused an independent application for charter for state bank at Wausa, as he feared might the national bank and make its reorganization impossible. The First National bank, the only other bank Wausa failed last July, with over $600,000 in deposits. It is thought that depositors in that bank will get about 10% or 15% of their money.

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SUE BANK INVESTORS

Wausa Bank Receiver Seeks 100 Per Cent Assessment.

Special Dispatch to The World Herald Norfolk, Neb., Aug. G. Cronkelton, receiver ofthe First National bank of Wausa, is suing 96 stockholders in federal court to gain 100 per cent assessment on par value stock they owned when the bank was closed. July 6, 1925. On August 21. 1925. the comptroller of currency issued an order demanding that every stockholder of the bank pay one hundred dollars for each share he or she owned. Some of the stockholders complied with the order it was reported.

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A Bank Receiver Sues Stockholders

George G. Cronkelton, as receiver of the First National bank of Wausa, is suing 96 stockholders of that depository in the federal court here to gain a 100 percent assessment or par value of stock they owned at the time the bank was closed on July 6, 1925. An Aug. 21, 1925. the comptroller of currency issued an order demanding that every stockholder of the bank pay $100 for each and every share he or she owned. Some of the stockholders complied with the order, it was reported.

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Receiver Sues Stockholders

Aug. George Cronkelton, receiver the First National Wausa. suing stockholders in federal court to gain cent. assessment par value of stock they when the bank July 1925. On 1925. the comptroller currency issued order demanding that every of the bank $100 for each pay share he or she owned.

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ANTHONY PLEADS GUILTY

NORFOLK, Neb., Sept. Pleading guilty to 11 counts in charges him with failure of the First National Bank in Wansa, Neb., T. A. Anthony former president of the insti ution, was placed on trial in federal court Norfolk Wednesday before Judge J. W. Woodrough George G. Cronkleton, receiver of the Wausa bank, and H. H. Rose, representative of the feder al reserve system of Kansas City, were the only two wi nesses callat the opening session of court. The present financial condition of the bank and the fact that it was member of the federal reserve mony.

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Former President of Wausa Bank on Trial in Norfolk him with failure the First National bank in Wausa, Neb., Anthony. former president of the was placed on trial in federal court in Norfolk Wednesday before Judge J. W George of the Wausa bank H. Rose, tive the federal system of Kansas City only two called the opening session of court. The present financial condition of the bank and the fact was member the federal system were brought out testimony.

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BANK RECEIVER IN ANTHONY CASE

GEORGE CRONKELTON IDENTIFIES RECORDS OF DEFUNCT INSTITUTION.

MRS. IDA DAVIS ON STAND

Indications Are That Trial Of Former Wausa Banker Will Not Terminate Until Last of Week; More Jurors Selected.

Additional evidence was introduced by the prosecution intended to show that Anthony, formpresident of the defunct First National bank of Wausa, now on trial in federal court here, was irregular in handling funds of customers, when court was resumed Monday afternoon after the weekend. George Cronkleton, receiver of the bank, identified exhibits not heretofore identified, being records and papers of the bank. He testified about the pledging of certain notes by Anthony to secure, it is alleged, Anthony's own indebtedness to the bank, Anthony having made pledge in writing which was produced in court. This was list of about twenty-four notes made by various persons in sundry amounts, which were notes in which Anthony had some interest and which he assigned to the bank as notes and overdrafts owed by him when the bank quit business, the evidence showed. Tells of Collections The receiver also testified that he had not collected any of the notes on the list turned over by Anthony, in any substantial amounts, but had foreclosed mortgage and bid in the property. The testimony of Duran Rutherford, Page, and Mrs. Ida Davis, Oakland, was in effect that Anthony, as agent for Mrs. Davis, had collected $500 in May, 1924, for her from Rutherford in part payment of mortgage held by Mrs. Davis; that Anthony kept the amount and did not let Mrs. Davis know he had collected It until the spring of 1925 when she learned of the fact from Rutherford. Mrs. Davis also stated that she had correspondence with Anthony who told her that he had kept the money as it was not yet due and he supposed she would not want the money. She said that the defendant settled with her in the spring of 1925 by giving her $100 in cash and by giving her note for $400, and later paid her $100 of the note. Mrs. Berggren Testifies Mrs. Berggren of Pierce, formerMiss Johnson of Wausa, employe in the bank, identified the deposit slip showing the Rutherford payment deposited to the credit of Anthony's account, The two personal accounts kept in the name of W. B. Howard also looked familiar to Mrs. Berggren. As notary public Mrs. Berggren testified that she certified the ack nowledgement of signatures of An thony and wife to the Oscar Samson mortgage, which Samson, according to his testimony last week, did not know he ever had. This mortgage executed by Anthony to Samson, but he did not owe Samson that amount of money as his only indebtedness to Samson was little more than $6,000 on account of note collected for Sam. son but had not been remitted, it is claimed. Indications are that the Anthony case will not be placed in the hands of the jury until the latter part of this week. The defense is expected they enjoyed a successful hunting trip. The men shot their limit of ducks. Mrs. Carl Adamson and Edmund were among the residents of other towns in Norfolk Monday, coming from Newman Grove. Mr. and Mrs. Nick Oberle and son, George, were among the outof-town visitors in Norfolk Monday, coming from Verdigre. The Rev. S. Sharpless has gone ot Wayne to attend the annual meeting of the Synod of Nebraska in the Wayne Presbyterian church, Tuesday, Wednesday and Thursday. Mrs. Hopkins and daughted, Jettabee, of Stanton, were here Monday, Miss Hopkins being on the program of the Norfolk Woman's club for readings, Will M. Maupin of the Omaha Bee staff was in Norfolk Monday on his way to Neligh where he dressed the Rotary club in the evening Fred Nordwig, father of Mayor Paul Nordwig, and Mr. and Mrs. John Legier, all of Sioux City, are visiting at the Nordwig home this week. Mr. and Mrs. Boyle and daughter, Dorothy, have returned from Grand Island, where they Sunday with Carrie and Kenneth, are attending Baptist college.

Early Ohio potatoes. 7th and Park Ave. Phone

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T. A. ANTHONY CASE AS IT PROGRESSES (Continued from page 7) venes Mondtay. When the Anthony case is finised Claude M. Baird, former cashier of the Wausa bank, who is charged with violation of the national banking laws, will go on trial, Wilha Froelich, assistant United States attorney, announced yesterday when court adjourned for the week-end.

The Norfolk Daily News, Tuesday. October 11. 1927. Theodore A. Anthony, former president of the defunct First National bank of Wausa who is charged with violating the nationa] bank lews. and whose trial in federal court here has been going on for about two weeks. will probably be on the stand all day today, having started his testimony yesterday afternoon when the court reconvened after the week-end. After the government closed its case by introducing some evidence in the form of records, Attorney Fred Berry, Wayne who is defending Anthony, filed a motion to instruct the jury to return a verdict of not guiilty which the court over-ru(led. The defendant, Anthony was called to the stand. Count No. 1 of the indictment charges Anthony with abstracting a note :mounting to $11,044. execute to the Wausa bank by Algot Carlson Berry examined Anthony on the transaction and introduced evidence to show that Carlson owed the bank at one time $16,100 that was an excess ban, and that Anthony from his personal funds paid the bank $8,000 and took out of the bank one of Carlson's notes for that amount. Carlson owned a farm and Anthony secured loans for Carlson and on Carlson's real estate for $13,000 and paid that amount of indebtedness Carlson owed the bank, it W.24S offered as evidence Carlson gave Anthony a note for $11,000 and Anthony lost $2,000 in the transaction the defense introduced evidence to show. The $11,000 note which An thony is accused of abstracting was a renewal of the $11,000 note, and the note for $11,044 was found in some of Carlson's old pripers which had been stored in the downstairs vault of the bank the receiver of the bank having this note in his possession at the time the trial commenced. the defense contends. George Cronkelton, receiver of the bank. previously testified on cross-examination that Anthony never had been in this vault since he (Cronkelton) was appointed receiver of the bank in July, 1925.

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SITE FOR BIG DAM Fort Dodge, Webcounty board supervisors that the state executive board permit Rapids interests build power dam across the Des Moines river Dolliver state The state board of the construction the palnt within the park, and the executive board's permit to the dar Rapids group for dam two miles north of the state Despite the objections voiced by the many Fort Dodge persons believe the value would by the lake formed by dam, and will urge tion in the Dolliver area.

AUTO ACCIDENT IN LOSS OF LEG Spencer, Lawson of Lake Park met with automobile accident between Lake Park and Milford. which will necessitate having his leg amputated at the hospital here. leg was broken between the knee and ankle and an causing limb below the wound on account of circulation being cut off. belonging to Mr. had into the ditch, and two with lanterns were helping him into the road. Jorn firmerly of Spencer, the men with the lanterns and drove between them, hitting Mr. Lawson he could not him. see

BANKER'S MIND NOT GOOD Norfolk, Neb., health and poor mental condition resulted in Theodore Anthony drawaway from the daily routine of the First National bank of Wausa, which he was testified Claud Baird, former of the bank, in court Thursday ternoon. Anthony being tried in connection with failure of the bank. Testimony Baird bore out general the contention of Anthony when he questioned on the stand regarding an allegedly "fake" ledger account of man named

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How Do You Do?

Norfolkans extend hearty welcome to Mr. and Mrs. George 1. Parker of Newcastle, who have recently moved to this city. They will make their home at 510 South 12th street, having moved into a home at that address m Monday of this week, Mr. Parker is member of the state guarantee fund commission and will make Nor 'olk his headquarters in the future He is to be in charge of the affairs of all closed and failed banks in this district, the third, being in charge of he territory 0 er which J. Floyd Me Lain, formerly of this city, had super ision for some time. Mr. McLain VHN recently transferred from Norfolk to Omaha Residents of this city are happy to welcome the Parkers, who ave taken an active part in social and Ivic affairs in Newcastle, and are expected to make many friends in this city and community. The above article taken from the Norfolk Press will be of interest to a great number of people residing in the community Mr. Parker was well nown In the vicinity. through his active part in the liquidation of the old Citizens State Bank. of which he was receiver. Now that he has moved to Norfolk, he will be centrally located, and keep in touch with the large num ber of closed banks which are in the hands of receivers to be liquidated.

The 1929 legislature appropriated $60,000 for editing, compiling and publishing statutes for Nebraska, none of which have, as yet, been obtained at the county seat, excepting the session laws for 1929.

Fees for registration of name for ranch or farm and for certificate of such are $1.00 in each instance. The registration record discloses the names of fifty-three farms or ranches to be registered in Knox county.

Members of the Knox County Board of Supery have been summoned to appear in Omaha on Dec 9. 10 and 11 to attend the annual convention of County Supervisors, Commissioners, County Clerks and Registers of Deeds John D. Forsyth, chairman of the Knox ounty Board of Supervisors, is an incumbent vice president of the mentioned state association.

George G. Cronkleton of Plainview has been appointed as Receiver of the First National Bank of Wausa to fill he vacancy caused by the resignation if M F. Jensen. Final dividend of this bank, which suspended several years ago, has not been announced

Knox County's share of the avail able gas tax for October, 1929, was $2,386.09, according to receipt on

Probably the greatest number of miles of gravel to have been placed in county roads in one year will have been accomplished in Knox County by January 1930.

Tax lists for 1929 for both real estate and personal property have been turned to the Knox County Treasurer. with the exception of one interstate industrial organization which. through ourt action. has made it temporarily prohibitive for the state tax commis sioner to certify the existant asses sable valuation in Knox County.

Much information-is contained in a map of Knox County which may be had from the County Clerk's office for 25c. Schools, roads, streams, railways, towns, and highways are featured in splendid outline and named. Other and usual map features make desirable. It is compactly enclosed in a pocket-sized folder.

If perplexed about choosing a Yule Tide gift for some dear friend or relative, why not pleasantly surprise them with year's subscription to the Monitor? It will give joy and cheer throughout the year. Do It now