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Oct. 9, 1930
RANDOLPH - Floyd Gillilan of Magnet is made defendant in a suit for $15,000 damages filed in district court by Clyde Williams of Hartington as the result of the arrest of Williams on a charge of stealing Gillilan’s chickens.
A hearing at the September term of court cleared Williams of the theft charge, but Williams is not letting the matter pass with vindication by the jury.
Mr. Williams’ petition alleges that because of his arrest, his incarceration in jail for three months, and the consequent publicity, he has been damaged in person, credit, and reputation, and asks $15,000 in satisfaction of such damage.
Mr. Gillilan is a former hardware dealer in Magnet, at present living on his farm.
Oct. 9, 1930
RANDOLPH - Floyd, 3½-yearold, son of Mr. and Mrs. Chas. Friedenbach of Sholes, was rushed to Sioux City by auto Wednesday night and operated on at midnight for appendicitis. The child was in a serious condition.
It was only about a month ago that these parents lost a 6-year-old son, Merton, from the same cause.
Oct. 9, 1930
RANDOLPH - L. H. Hall and associates have leased the Randolph mill ground and will build a new filling station on the site, which is on No. 20 and a few blocks north of the main business section. The mill building is now in process of being dismantled. We understand the new station will connect with the Gurney Co. of Yankton.
Oct. 9, 1930
RANDOLPH - The Magnet State bank closed its doors October 2, 1926, and was taken over by the state. In these years since, it has ceased to be a growing concern, only $4,803.78 has been paid on claims of depositors, totalling $58,903.48. Geo. I. Parker, the receiver, concludes that the affairs of the bank should be settled, and in this conclusion he has the very hearty applause of the depositors.
Mr. Parker has begun suit in the district court of Cedar county against the directors of the Magnet bank for recovery of $54,099.70. The defendants in this suit are: Robert Lynn, Larry Gillilan, Floyd Gillilan, Peter Priess, Paul Strathman, Gus H. Renard, Gus A. Renard, and F. S. Vickory, the latter a former Magnet druggist and now living in Excelsior Springs, Missouri. All of these men were directors of the Magnet bank at some time in its career and some of them were officers.
In this petition, Mr. Parker sets forth some of the causes of the bank’s failure, and sharply criticises the methods of doing business. It is also alleged that the directors approved loans without proper security and larger ones than by law allowed. On this showing, based on certain papers and exhibits, is based the suits against the directors.
It is also alleged that Robert Lynn, cashier, loaned money to himself in amounts that totalled more than $12,000 at one time, and that he secured more money on notes signed by his sons, converting the money thus obtained to his own use. Other allegations are made concerning the reports made to the state banking board by which the true condition of affairs was concealed.
The suits are for $54,099.70, the amount due depositors at this time.
