The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1903-10-30
Judge Buck Will Hand IN Resignation
as President Tonight.
Stock Of Napoleon State Bank to Be
Increased TO $4,000.
Judge Bucks Determination to Leave
Maukato Causes fegret.
He Saves Enough 10 Make His Last
Years Comfortable.
From Thursdays Daily.

FROM lnurSuayS Oaliy.
AS stated by The Free Press yester-
day, the stockholders of the Mapleton
State bank will hold another meeting to.
night, at eight o'clock, to pay in the as.
sessment of one hundred per cent called
for by the public examiner. Judge Buck
will transfer his $1,000 stock to parties
who have purchased it at par, after pay
ing his assessment. This will amount
to the same thing as though he surren-
dered his stock without paying or re-
ceiving anything. He will be out the
amount that his stock cost him, $4,000
besides the $4,000 in round numbers that
his son took from him, which makes his
total actual loss about $4,000 His
many friends will be glad to know that
he saves enough of his property to sup
port him the remainder of his days,
which he will spend at Pomona, Cal,
with his daughter and her children.
So great is the confidence of the peo-
pie about Mapleton in the ability of a
well managed bank to pay there, that
parties have come forward and volun-
teered to take additional stock to the
amount of $1,000. These people cannot
all be accommodated, as the capital of
the bank is to be increased but $4,000,
but Judge Bucks $1,000 of stock will be
taken up by some of these people, one
of whom has spoken for $1,000 of it.
Judge Buck will tonight hand in his
resignation as president of the bank,
and the board of directors will fill the va
cancy at later meeting. The bank
will be thoroughly reorganized, and will
be on a stronger and better basis than
ever before. The depositors will have the
assurance that the stockholders will
stand by them in any emergency. The
proposition of the First National bank
will not be considered
The examination of the bank is nearly
ly completed. 1t is so far along that it
is known that A. A. Bucks defalcation
is no greater than was reported by him
self Mr.. Buck had three shares of the
bank stock, which he purchased from
Robt. Little less than year ago, and
Mr.. Little will have to pay the assess
ment ON this stock, and will undoubtedly
receive it back Judge Buck has turned
the three shares over to Examiner Kurth
to be handed to whoever is lawfully en-
titled to them.
The $4,000 assessment, the $4,000 sur
plus, the $1,000 bond and whatever can
be secured from the property of Mr..
Buck levied upon by the bank, will re-
store the amount that was taken from it
by the young man, and it will be in
the same position that it was before, ex-
cept that it will have no surplus and the
stock will be worth par, while it was
worth l6O per cent before the defalca-
ton became known.
The last heard of young Buck, he was
in Seattle, Wash, and many think that
he is headed toward Alaska, to lose his
identity in the mining camps, hoping by
some streak of luck to be in a position
to recoup his father for his losses.
The determination of Judge Buck to
leave Mankato will cause genuine regret
on the part of all. He was one of the
first residents of the city and has al
ways been prominent in its affairs. He
has been honored in many ways, and has
never failed to bring credit upon the
city and lustre upon his own name. He
and his daughter have hosts of friends
who will wish them success and happi-
ness in their new home, and will hope
that the judges life will be prolonged
for many years.
Judge Buck has received numerous let
tiers from old friends all over the state,
sympathizing with him in his sorrow
over his sons wrong doing, and these
are great comfort to him.