The border vidette., 1904-01-30
THE INTERNATIONAL BANK.
Major Fred Herrera Appointed Receiver
 and Is Now in Charge.

The Tucson Citizen dated Jan 27th, says: 'ln the matter of the Terri tory of Arizona versus the Interna- tional Bank of Nogeles, a hearing was heard today before Judge Davis in the District Court. Arguments were made by Attorneys Wright and Franklin for the bank people a.;d F. $. Nave for the creditors. Judge Davis was asked to restrain the bank from fur ther transaction of business Terri torial A uditor w. F. Nichols and At torney General E. w. Wells signed the pleadings which also contained a request for the appointment of Fred erick Herrera of Nogales as receiver. Judge Davis has taken the matter un der advisement. It Is understood the appointment will be made this after noon."
 The International Bank of Nogales did not open last Monday owing to the inability of the officers to receive the financial aid from the east, they claim, was to have arrived, and owing to the fact that Sandoval & Go and Banco Minero, two strong financial institu- tions of Mexico, did not assume the responsibility of liquidatlng the affairs of the closed bank.
 Monday forenoon about fifteen of the principal depositors of the bank meet in the law offices of Judge Eb. Williams and took steps to the end that the affairs of the institution would be straightened out. Dr. A. H. Noon was elected chairman of the meeting and Captain Charles F. Perkins secretary.
 After considerable discussion, the name of Major Fred. Herrera of this city. was mentioned for the position of receiver of the bank. It being the unanimous desire of those present that Major Herrera's name be sent to Judge Davis for approval. ths secretary was instructed to report the action of the meeting to Territorial Auditor Nichols of Phoenix, who had arrived in the city Saturday evening to investigate the matter on behalf of the territory.
 The auditor said his only desire was to do that which would be for the best interests of the depositors, and he would gladly ask Judge Davis to con- firm the appointment of Major Herrera, the unanimous choice of the depositors of the bank
 All sorts of rumors as to the banks condition and the causes which lead to it's closing, are heard on the streets but owing to the fact that as yet no statement has been made, the public and the depositors, are today no wiser than when the bank closed on January 18th, with the statement that business would be resumed Monday, January 18th.
 The suspension of the International Bank, the oldest financial institution in the county, will be hard blow to Nogales and Santa Cruz county. It was the depository of the county treas ury funds, which fortunate for the county, will be made good by George B. Marsh. county treasure-, and the taxpayers will not lose a cent, no mat ter "how the cat jumps"
 The depositors to bc commended for their good judgment in selecting Major Herrera to straighten out the affairs of the bank. For many years he was cashier and one of the largest stockholders of the International Bank. He is an expert book-keeper and ac- countant and one of the most able fnanciers in Arizona; he has thorough knowledge of business and business methods, and in the responsible posi- tlon of receiver he will have the conf dence and united aid of every depositor
 In few days Major Herrera will have things in shape so that those having money in the bank will know 'where they are at "