The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1923-12-07
State Bank of PIentvwooJ
Closes Payments MonI.,.
Continued from page u

9N ~
change county, school and ,i+,.
rants, which they had on ban5 "S'
sun of S2500.00 fer checks 'o oii L ge
payment of taxes by taxpavarS, ', g.. q
on that bank which offer w.s O'SsO
cepted and the exchange was ma. y
However, Tuesday, about S460o ', ms..
checks in payment of taxes drsv -'',S
that bank appeared in the Coms-
Treasurer's Office, which that bant y.
been unable to honor, and wES
checks unless cashed soon win bo -
turned by the County Treasgrer I,
the drawers without their tax recent.
The failure Of this bank at this +ms
is calamity upon tie people Of PIN.
tywCOd and vicinity. The bank I3
numerous customers, probably M
most substantial in he county n.
money for the fah crop had Deem II
posted in the bark quite generary
and much of it had been checkol 3r
in payment Of taxes, which Check,
will probably be returned protested "A
the drawers without the tax reCeipts
which means that The taxes Of the
drawers will go delinquent with pen.
atty added thereto
It was to avoid this very CALAMITY
that County Treasurer Olson asked
the taxpayers several times to tender
the payment of taxes in cash, but
many Of the taxpayers did not heed
his request.
Numerous deposits were made Mon
day before the bank suspended pay
ments and much hardship is the re-
suits. Assessor Aspelund DEPOSITED
his pay check about noon MONDAY only
to have his checks refused a couple Of
hours later. The Lutheran Ladies
Aid deposited quite a sum Of money
in the bank last week as did also sew
eral Sunday school treasures.
The conditions Of this bank became
precarious last summer but about
September 1st, Peter Marion one Of
the heavy stockholders. raised S5lW
for it which tided it over for the time
The bank has not paid county drafts
for nearly two years, and for tlI@
months did not even renew Its Oon3
for county deposits, while at the same
time it refused to pay the county Is
money, and it was only after the n0a
urgent representations were maze Y
Gov. Dixon and Bank Examiner ShS
ton and after the arrival OF spea4
examiners in PlentywOOd al the liHs
of the closing of the Sheridan Uoueii
tv State Bank the second time au
the State Bank of Plentywood IeIe
its bonds with the county, and oilsL.
wise set its house in order. Howe .
Cashier Nelson gave out many u.S
thereafter that the bank had We4J
cred the crisis, and would p~
Through. n;v,o
promised Sen. Taylor, in a g5.iis y
him that all depositors IN oLsli1 ~
County banks after September n 7,
would be "Trusteed," that is puS \
special funds by themselves anu anu n y
mixed with the funds Of the Oan1' -.
that they could be held intact anu 80 :
turned to the depositors in case Il II.
closing. Whether this promise Ss
been kept or not in reference I'D. y lime
closed bank is unknown al thls Cant Cant
IF # has, ali depositors since S 81
1st. will get their money Oach' o Ia,
to be hoped that this promise
been kept. d. ronors
County Treasurer 0i ooo m Il he
that there are about $12OO00gi I, q tbe
county's funds deposlteo ,.E;,b he
/ State Bank of Plentywood' WIZ" l., ner.
believes is amply protected ,,. y
sonal bonds. mortgages. anu "''