The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1922-01-06
COMMISSIONERS
PROCEEDINGS

At l. a. M, Friday, December 30th,
1871, the Board of County Commis-
sIoners met in special session pursu-
ant to that. certain order of a maiori-
ty OF said Board made the 23rd day
.ot december, 1921, stating the time,
place and business to be transacted,
copy OF which order appears on
Page 523, of this Journal.
Matters pertaining to the Sheridan
County State Bank was taken up.
At 12:15 p. M, on motion, Board
recessed until 200 o'clock .. m,
At ZOO o'clock p. m, Board resum-
ed pursuant to recess taken; all MEM
bels and the Clerk present.
On motion carried, personal dapos-
tory bond of the First National Bank
of Reserve, with private suresies,
dared December End, 1921, in the
sum OF $10,00000, was approved.
Commissioner MatEin moved tie
adoption of the following resolution:
WHEREAS it appears that Sheri-
dan County, Montana, has not yet
been repaid the sum Of $235 100000
with interest on deposit in the Sheri-
dan County State Bank of Plenty
wood, Montana, at the time the. same
was declared insolvent and placed in
the hands of receivers;
WHEREAS, on September 7th,
1921, Sheridan County, Montana, and
T. L. Beiseker Of Fessenden, North
Dakota, President of said bank, and
the Minnesota Loan and Trust Com
pany, corporation, of Minneapolis,
Minnesota, entered into an agreement,
which agreement is of record with
this Board and has been duly ap-
proved by this Board and by which
agreement, the said T. L. Beiseker
promised and agreed to take imme-
diate steps towards the reorganiza-
tion and re-opening Of the said Sheri-
dan County State Bank of Plenty
wood, Montana, and by the terms of
which agreement, said bank was to
be re-organized and re-opened on or
before January 1, 1922;
WHEREAS, said agreement above
referred to, dated September Z, 1921,
| is hereby and now referred to for
further particulars;
WHEREAS, it appears, that the
said T. L. Beiseker has made appli-
cation to the Superintendent of Banks
of the State of Montana, for the re-
organization and re-opening of said
bank, and has presented a plan for
| the re-opening thereof;
WHEREAS, it appears that it is
necessary for the Superintendent Of
Banks of the State of Montana, to
thoroughly examine the assets and Ii
abilities of the Sheridan County State
Bank, and also to investigate in de-
tail the assets submitted by T. L..
| Beiseker for the reorganization and
| re-opening of said bank, and that it
| is necessary that additional time, not
exceeding so days from January 1st,
1922, be granted for the purpose of
permitting the Superintendent of
Banks to make such examination and
| investigation as he desires in these
matters;
WHEREAS, it appears that T. l.
Beiseker, the party of the first part,
in said agreement above referred to
dated September 7, 1921, has orally
promised and agreed with Alfred L.
! VolIun, one of the special attorneys
for Sheridan County, Montana, in
this matter, and If such extension of
time of so days for the re-orgarsza-
ton and re-opening Of said bank, be
granted, that said agreement dated
September Z, 1921, above referred to-,
shall still remain in full force and
effect and just as binding as tho the
bank were opened and re-organized
on or before January 1st, 1922, as
provided for in said agreement, and
|. WHEREAS the said Z. L. Beisekef
has also forwarded to the said Alfred
IT. Vollum, special counsel for Sher-
idan County, Montana, in this matter
requesting such extension of time for
agreement dated December Gath, 1921,
bv his written communication and
so DAYS for the sole p 1rpose only OF
re-organizing and re-openlng said
bank, and agreeing that the said
agreement dated September 7th,
| 1921, above referred to, shall other
wise remain in full force and effect,
and
WHEREAS, the Minnesota Loan
and Trust Company, has likewise
consented to such extension of time
for said purpose but the said agree
ment of September 7th, 1921, to 9TH
erwise remain in full force and eff
feet;
WHEREAS, it appears necessary
and proper that such extension De
given;
! WHEREAS, it is expressly under
stood and agreed that by such extern
sion of time, Sheridan County, Mon
tana. does not waive any rights
whatsoever in reference to enforcing
the liabilities of T. L. Be1seker and l..
G. Zeidler as sureties upon county
depository bonds for the deposits Of
said moneys in the said Sheridan
County State Bank, and the e,sa said s,,dh L,
G. Zeidler expressly agrees that sucn
extension of time shall not in any
way operate to eliminate, cancel,
waive or discharge the liability of L..
G. zeidler to Sheridan County, Mon
tana, as sureties upon such depository
bonds, but that such extension of time
may be granted and is granted with
full consent and approval of the said
T. L. Beiseker and L. G. zeidler as
sureties upon said bonds, with the
full knowledge of the effect thereof.
,roxxr u,rJU,pEFDPE he is resolved