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Show mm IS NAMED BAIirSRECEIVER j Action Taken in Connection Connec-tion With Bingham-Cop-field Suspensions. David C. Dunbar was appointed yes-terdayby yes-terdayby Judge W. H. Bramel of the Third district court as receiver for the Citizens' State bank of Bingham and the Copper State bank of CopporfielU, the action ac-tion being on the application of W. K. Evans, state hank commissioner. Bond wan fixed at $100,000 for tho first and $50,000 for the second Institution. Commissioner Evans took the stand. Incident In-cident to the appointment of the receiver, and, under examination by Attorney General Gen-eral Dan B. Shield, testified that both banks had bepn found to be in unsafe and unsound condition, that the business of each was being conducted In an unsafe and unauthorized manner. The receiver Is directed to collect all debts, dues and claims and to sell all real and personal property, under the direction direc-tion of the court. The court was informed by the attorney attor-ney general that it might be found advisable ad-visable to ask later lor increase of the bonds and they were fixed by the court with the understanding that they may be raised later If occasion should arise. Word from Bingham last night was to the effect that some of tho depositors of the two closed banks wre incensed as a result of reports that have been issued as to the management of the institutions, but that generally they are willing to await the straightening out of affairs before be-fore passing final judgment. Tho closing of these two banks precipitated pre-cipitated a run cn the Bingham Btatc bank today, but President Earl Randall and the other officers of the institution announced that the bank was In a roai-tlon roai-tlon to pay depositors every cent due them and that it would do so upon demand. As a result of the run the bank paid out approximately 5100.000 during the day, a large amount of which was deposited depos-ited in the postofflce. It is presumed that the run will be resumed on a smaller scale today. Badger Brothers, who have conducted a stock brokerage business fn Salt Lake for the past twenty years, yesterday closed their doors and suspended business. An assignment has been made to Charles H. Wells, whose appointment as receiver will be made this morning. The failure is said to have been duo to the closing of the Citizen's Stato bank of Bingham and the Copper State bank of Copperfiold, and to stock market reverses. Suspension of operations by the Badger Brothers yesterday, growing out of the closing of the banks at Bir.gham, caused no little worry and inconvenience to '.he firm of Ralph A. Badger & Co., brokers, although he two brokerage institutlonn are In no - wise connected. Ralph A. Badger, speaking on bohalf of his company, com-pany, said yesterday that, while he had at intervals done some business for the firm of Badger Brothers, there was no relation re-lation financially existing between the corporations. He added that both the banks and his customers had already become be-come confused by the similarity of the names, saying that one large bank in the city yesterday sent back two of his checks under the impression they had been issued by the firm that had suspended suspend-ed operations. |