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The affairs of the Arizona Bank which closed its doors in seven towns and cities of Arizona includ ing Winslow on June 24, have been prominent in the news of the past week, with a sale of land, denial of 70 claims, and the or ganization of a protective assoc iation by its depositors. The estate of the closed bank has received $25,000 from the sale of 27,000 acres of range land in the Clear Creek country south of Winslow. A deed transferring the prop erty known as the Wolfolk ranch, from the Campbell Francis Sheep company, which is in the hands of the banks to the Clear Creek Cat tle company, was recorded in Co conino county, Thursday afternoon of last week. The sale was made under a court order issued to Lloyd Thomas, state superintendent of banks, by Judge Joseph S. Jenkes, of Mari copa county. The transaction in volved $25,000 in cash paid by Fred Bixby and Wayne Thornburg, who own the controlling interest in the Clear Creek company. Seventy special claims against deposits in the defunct bank sys tem, including application for pay ment of Gov. Geo. W. P. Hunt’s unemployment relief fund tied up in the institution have been re jected by Lloyd Thomas, state sup erintendent of banks and receiver of the Arizona bank. Thirty-nine of 109 priority filed against the banks would be allowed by Thomas. Approval of his action in reject ing and allowing the special claims is sought from the superior court in a petition filed last week with Walter S. Wilson, clerk of the court. The governor's unemployment relief fund, collected from the sal ary checks of state employes on deposit in the Arizona bank when it closed its doors last summer was $214.20 the petition shows. (Continued on page Seven)
Newspaper Details
Winslow Mail
Winslow, Arizona, US
Fri, Nov 18, 1932
Page 1
Full Page
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Winslow O.
USA 23 Jun 2026
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