The Miller press. [volume] (Miller, S.D.) 190?-current, 1920-12-23
Sd. %DEPOSlTORS SAFE
THE STATES BANK GUARANTY
LAW PREVENTS FINANCIAL
LOSS.

Az hiho III 0pOAatlVu MI Wn0AO - SAS
United States. 1t has proven q sue
cess. both from the standpoint Of the
depositor and the bank. In the only
three cases of failure Of the banks
during the five years II has been In
operations all the depositors were paid
n full. John Hirning. state superin-
l.ndent Of banks. figures that the cost
II operation Of the law has amounted
o only $l7.l4 a year for a bank hav-
ms 500, 900 In deposits. In the cases
II the failure of the banks during the
five years since the bank guaranty
In addition to being paid in full, re-
ceived interest on interest bearing de-
posits to the date the banks suspend
I'd. In the case OF two Of the failed
banks the first checks were mailed
to depositors eleven days after sus-
pension. while In the third case, the
bank In this case, being a larger IN
stitution than the other two, more
work was involved. Nevertheless, the
first checks were written twenty-one
deys after suspension. In the case OF
one OF the failed banks there was no
loss to the guaranty fund. the bank
liquidating enough to reimburse the
guaranty fund In full for money
drawn to pay the depositors. EST
mating the losses in two OF the fail
ures at s150.00o to the guaranty fund,
1t % the guaranty fund $4,000 a
vonr - na,,~, py-E mn mn a.. 49,
In the state banks. or s17.14 per year
for a bank having 500. 900 in deposits.
imprisonment for two years in the
Sioux Falls p~enitentiary was the sem
tence imposed by Judge Frank B.
Smith, Of Mitchell, in the state cir.
cult In Sioux Falls in the case OF
George ". Egan, OF Sioux Falls, con
victed OF making false affidavits In the
support OF q claim for fire insurance
on a building belonging TO him which
was destroyed by fire. Mr.. Egan re
Gently purchased the Sioux Falls
Daily Press. He was three times a
candidate for governor OF South Da-
kota and was twice disbarred from
pr~acticing law in South Dakota. He
formerly lived at Logan, Ia. A mo-
ton for q new trial was overruled
prior to the sentence. Mr.. Eyan has
given notice of an appeal to the state
supreme court. which will act as a
stay OF sentence. His appeal will
have as its main contention the claim
that the circuit court was without
Jurisdiction. as the information in the
case failed to state that the alleged
crime was committed In Minnehaha
county. A stay OF thirty days was
granted by judge B Smith and the
defendent was released on a bond OF
$4,000.
Judge Fleeger, presiding at a term
Of circuit court In Moody county, de,
cided that none OF the claimants to
the s250.o 900 estate left by Louis Mel,
son. an eccentric Moody county pion,
ed the estate to the state of South Da,
kota. The estate consists OF $50 acres
Of land and considerable other prop
erty and under the Judgement II now
has ~escheated to the state for the ben
eft OF the public schools of South Da,
kota. Under the Judgment the com
missioner OF schools and public lands
Is vested with authority to take pos
session OF the estate. This Is the
largest estate which has ever been es
cheated to South Dakota.
Esmond Is among the South Dakota
towns which will have a community
Christmas tree. II the weather Is
favorable the monster tree will be
erected on the street in the business
section. and arrangement will be made
to distribute gifts and candy to every
child OF the city. IL the weather Is
cold and stormy. the tree will b.
placed inside a building at a centra
location.
Owners OF unpatented mining ground
In the black Hills will petition Con
gres to pass a resolution exemptine
the owneis OF such rnratented min,
Ing claims from the assessment work
OF 1920. II In set forth in the petit ons
that the high cost OF supplies and the
scarcity Of labor available for min
ing creates a great hardship II the
owners are compelled to do their as
sessment work for this year.
Gertrude 8. Young. a Sioux Fails
girl. assistant professor OF history
at South Dakota State College. was
awarded the Beadle prize for 1920
The award is made to the resident OF
South Dakota. educated In South Da
fota schools. making some contri,
button to knowledge Tin any field OF
research) which. by reason OF its i'm
portance. properly entities the winner
to special distinction among South
Dakotans.
Dates for ths annual poultry show
to be held b. Redfield have been
fixed for January IA to 10.
Flowing for sugar beets ON a large
scale Is In progress daily-uotwith
standing that IL Is December-on the
extensive lands Of . big sugar bee,
company near Belle Fourche While
the ground In frozen on the surface
ntil near The middle OF each day. the
afternoons are devoted to the work OF
blowing.