Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-01-03

tional bank, and Alexander Robertson,
vice president of the Continental and
Commercial National bank Both the
Fort Dearborn banks and Drorers
banks have been known as livestock.
stockyards and packers banking
houses,
Stock in Six Banks
Edward Tilden & Ce.-the Tilden
|estate-was one of the largest holders
OF bank stock in Chicago. The last per-
sonai property assessment list shows
that the company held 21 ,O79 shares Of
Fort Dearborn stock, which, at S190.
the price quoted last week, was werth
si.215, 500. The assessment list shows
that the Tilden estate held .toca in six
Chicago banks, with a market value at
that time of s6.274.1un.
Attorneys for Edward TiIden ..s Co.
issued a statement saying that The
company is amply solvent and has 4
large margin of good assets in excess
OF all its liabilities, but that a portion
of TIE assets are not rsndiy reaiizable
though perfectly good.
We expect that all creditors will be
paid In full the statement adds.
Ends Three Days Work
Announcement of the completion OF
the deal closed three days and nights
of almost constant work FIR several
Chicago bankers and hundreds of clerks.
First lntimation of trouble at the Fort
Dearborn banks came Friday night
when hundreds Of clerks worked through
the night there and at the First Ma
tional bank. next door The First Ma
tional. according to q ruHor. which Of
ficials later confirmed. was considering
the purchase of the ort Dearborn
banks
The negotiations were broken off
shortly after noon Monday and the
clearing house committee then called
in George NJ. Reynolds and athac off
cials of the Continental and CONNER
eial banks. who also were ready TO
make an offer.
A meeting was held at the tirst Ne-
tional bank. and at 5:41 =. ~, direct
ors and officers of the F7rt Dearborn
banks were called in. f'orty-fiVe min
utes later the deal was closed and at
Z o'clock the clearing house assoeia-
tion met to receive its committees re-
port and issue statements to the pub
lie.
Stock Widely Scattered
William 4, Tilden. president Of The
Fort Dearborn banks. was brt ther
of Edward Tilden. who clad in la13.
Associated with him in their manage
ment was Averill Tilden, son of Ed
ward Tilden.
Stockholders in the Fvr' Dearborn
banks, according to list published last
June. are scattered throughout the
country from New York to San Fran
cisco and from northern Michigan TO
Oklahoma, although the majority live
in Chicago.
George M Reynolds. chairman OF the
board of directors of the Continental
and Commercial National bank and Of
the Continental and Commercial Trust
and Savings bank, made the following
statement:
The Continental and Commercial
National bank and the Continental
Trust and Savings bank have taken
over the Fort Dearborn National bank
and the Fort Dearborn Trust and Saw
ings bank. respectively, as at the close
of business December 81. 1921.
Accounts Guaranteed
"AH deposits in the Fort Dearborn
born Trust and Savings bank have been
guaranteed by the Continental and
Commercial National bank and the Con-
tinental and Commercial Trust and
Savings bank. respectively; and checks
drawn against accounts in the Fort
Dearborn National bank win BE honor
ed by the Continental and Commercial
National bank and deposits, includins
savings accounts. in the Fort Dearborn
Trust and Savings bank will be placed
to the credit of the depositors on the
books of the Continental and CONNER
cial Trust and Savings bank.
THE business heretofore carried on
by the Fort Dearborn National bank
and the Fort Dearborn Trust and Sav-
ings bank will hereafter be conducted
by the Continental and Commercial
National bank and the Continental and
Commercial Trust and Savings bank,
respectively. at their Offices
SHAKEN BY QUAKE.