SUGGESTS ARBITRATION.

STUART, CROCKER, MCNIDER

Posted By: David (email)
Date: 2/12/2005 at 18:41:00

The Chariton Leader, Chariton, Iowa
Thursday, January 30, 1908

Sometime since T.M. Stuart & Sons sent a petition to Comptroller Ridgley
asking that the $350,000 Woodmen fund be not treated as a deposit in the
First National Bank, giving reasons therefore, among which were that the
cashier had no right to receive the amount of deposit without the consent of
the directors and for the further reason that it was practically a personal
loan to MR. CROCKER. The Comptroller has replied to the letter and petition
stating that the fund had been treated as a general deposit but could the
claims of Mr. Stuart be substituted the McNider claim would be rejected --
but he demanded proof. The Comptroller was willing to leave the arbitration
and have the test made in Chariton but doubted Mr. McNider's (Head banker of
the Modern Woodmen) willingness to accept such an arrangement. So while
little headway has been made toward settling this matter there is this
satisfaction, the department has recognized that there are questions to be
settled and demands made by the real patrons of the defunct bank.
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Copied by Nancee(McMurtrey)Seifert
January 24, 2005
iggy29@rnetinc.net