Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1915-06-24
Medina BANK CASE
IN DISTRICT COURT
Criminal Prosecution Continued
Pending Result Of Civil Action.

Saturday afternoon the case
brought by the State in the prosecu-
ton of the cashier and other parties
connected with the failure of the
Medina State bank came up in the
district court. A motion was made
by the attorney to permit the filing
of other claims against the bank by
depositors, time for which had been
extended. Upon proper showing
that no knowledge or notice of op-
portunity to file claims had been re-
ceived by the creditors concerned,
additional claims to the amount of
about $500 against the bank we're
allowed by the court. This brings
the total amount of claims against
he defunct bank to about $1,000.
Not all of the claims have been filed,
however, and several hundred dol
lars of small claims yet remain to be
filed, and the time for doing so has
now probably elapsed. 1t is further
reported that suits will be brought
against the banks stockholders on
account of additional liability for an
assessment of 100 per cent.
Petition to Bring Civil Action.
On the opening of the regular term
of the district court Monday morn
ing, on call of the criminal calendar,
when case No. g., State of North Da-
kota v. A. w. Schroeder was reached
w. E. Purcell of Wahpeton, attorney
for the defendants, presented a mo-
ton to the court asking for a con-
tinuance of the cases of the State
against A. w. Schroeder, cashier,
and c. H. Barber and H. H. Whee-
lock, directors.
The reasons for this motion were
set forth in petition by the receiver
of the defunct bank for an order of
court authorizing him to institute a
suit and prosecute action in a civil
case for the purpose of recovering
certain funds alleged to be due to
said bank. The petition of the re-
ceiver recited the fact that it has re-
Gently come to his knowledge that
within a short time prior to the clos
ing of the said Medina State bank,
and at the solicitation of the officers
of said bank, L. B. Hanna and E. j.
Weiser, who were each then and
there directors of the First National
Bank of Fargo, being men of great
wealth and financial responsibility
and able to perform terms of the
agreement set forth hereafter,
agreed with the officers of said Me-
dina State bank to send man to
said bank to Investigate the value
of the assets; and further agreed
that if his report was favorable they
would supply the said Medina bank
with funds to meet any runs on the
bank and pay all it's creditors and de-
positors in the usual course of busi-
ness; to keep said bank open and
running as a going institutions; also
agreed on receiving such report to
send Cashier Nesbit of the First Ma
tional Bank of Fargo to select from
the assets of the Medina State bank
such notes and securities as he might
deem sufficient to protect and secure
said Hanna and Weiser in furnishing
such money for the purposes above
set forth, and as a consideration
therefor. That in pursuance of such
understanding Messrs. Hanna and
Weiser sent Frank Tucker to the
Medina State bank, who made an ex-
animation of the value of the assets
and reported favorably thereon to
Messrs. Hanna and Wesier. That
Immediately thereafter Cashier Mes
bit was sent to the Medina bank to
select such assets and securities as
he deemed sufficient and advisable
to protect and secure Messrs. Hanna
and Wesier in advancing funds and
money for purposes aforesaid. That
said Nesbit selected and took away
with him notes and securities of the
Medina bank and part of the assets
thereof, aggregating large amount,
~. 1F x1yhioh 10 mt
known to the petitioner, but which
the receiver believes is between $685.
900 and $35, 1000 in value. The petit
tion further states that after the
making of such agreement and after
securing the assets, notes, ETC., that
Messrs. Hanna and Wesier neglected
and refused and still neglect and re-
fuse to carry out the terms of their