Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1915-05-07
SYVER1SON TO
Be WITNESS
Medina State Bank Affairs Aired
.u at Jamestown in Criminal
.,..s Action.

jamestown, May 6.-The testimony
in the hearing Of the defunct Medina
State bank case was continued
throughout the day, Gordon Nesbit,
cashier of the First National Bank of
Fargo, being upon the stand. Bank
Examiner Syvertson had also been
called but not placed on the stand
yet.
Testimony Of Barber. e..
Affairs took a sudden turn as a re-
suit OF the testimony OF c. H. Barber,
given in the hearing yesterday after
noon. 1t appears from this testimony
that at the time it was decided a re-
ceiver he applied for, for the firm of
Wheelock & Wheelock, of which Mr..
Hanna, Mr.. Weiser and Mr.. Irish, d.
restors of the FIRST National Bank of
Fargo, and E. w. Decker, president of
the Northwestern National Bank of
Minneapolis, known as the Weiser
Syndicate, we're the heaviest creditors
an agreement was made that sufi.
cient funds would be supplied to the
Medina State bank to carry over any
run that might be made upon it by
reason Of this failure.
Large Amounts
Testimony vas given to the effect
that Nj. Schroeder. acting upon this
information, permitted the officials of
the First National Bank of Fargo and
the Merchants National Bank of St.
DoysI frf{ ln ont n Ia roc mount ne tho
securities of the Medina State bank,
a%ggregating approximately $25,00O,
and continued to do business until he
learned that they refused to carry out
this agreement, when the public en-
aminer was Immediately notified. The
testimony of Gordon Nesbit, cashier
of the First National Bank of Fargo,
who was on the stand today, corrobor-
ated practically ali of Mr.. BARRIERS
testimony.
Active in Management. .
The testimony this morning would
appear to develop the fact that Mr..
Nesbit, on January II, 1914, when the
acts Of which the officers have been
charged were claimed 10 have been
performed, was active in the manage.
ment of the situation. L. W. Blais-
dell, who conducts a barber shop at
Medina, testified on the stand yester-
day afternoon to a conversation with
Mr.. Nesbit while the latter vas at
Medina on January ~, 1914, the date
the bank closed, in which Mr.. Nesbit
! stated that the Medina State bank
was in better condition than it ever
had been because he First National
Rank of Fargo was behind it.
Murphy Receiver.
Michael Murphy. the receiver OF
the Medina State bank, testified that
he had collected approximately $685.
coo Of the defunct banks assets and
had paid ovcr % the First National
Bank o. Fargo, the Merchants Ma.
t!Qnal t'ank of ST. Paul and the stock
| YARDS Material Plank Of South st. Paul
approximately. s2S.1G0 OF the money
s. received. 1t appears There is now
enough money On hand to pay a divi'
dead OF 10 per cent.
A nulaDCr Of the depOsitors OF the
oank are interested spectators at this
hearing and in the testimony that is
being developed and it is rumored
.tha: saits may be brought on their
behalf to enforce this alleged state
ment on the part O.! those who, 1t was
stated, promised to take care, OF this
bank and to make restitution of the
assets SO taken.
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