State Bank - Stockett, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 19, 1925
Location: Stockett, Montana (47.357, -111.165)

Metadata

Model: gpt-5-mini
Short Digest: e45caf654217b7d7

Response Measures

None

Description

The article (The River Press, 1925-08-19) refers to the 'receivers of the State Bank of Stockett', indicating the bank was in receivership by the publication date. No runs or reopenings are mentioned; the receivers are pursuing enforcement of overdue bonds, consistent with a suspension/closure leading to receivership.

Events (1)

1. August 19, 1925 Receivership

Newspaper Excerpt: order directing the receivers of the State Bank of Stockett and the State Bank of Belt to join in a legal move... the Stockett institution is represented as holding $42,000 of the bonds
Source: newspapers

Newspaper Articles (1)

1. August 19, 1925 The River Press Fort Benton, MT

Article from The River Press, August 19, 1925

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Article Text

Suit Against Big Sandy Mine Great Falls.-Action to compel payment of $100,000 in bonds issued by the Mackton Coal company of Big Sandy was begun in district court Thursday, when Judge Stephen J. Cowley signed an order directing the receivers of the State Bank of Stockett and the State Bank of Belt to join in a legal move to force the Northwestern Ttrust company of St. Paul, trustees for the issue, to foreclose on property of the mine. In petitions for the joint move signed by the receivers of the two banks, the Stockett institution is represented as holding $42,000 of the bonds and the Belt bank $10,000. The deed of trust, under which property of the mine was transfer red, first to the Stanton Trust and Savings bank and later assigned to the St. Paul institution, as security for the bonds, enjoins individual bondholders from suing, expressly stating that only the trustee might bring action against the company. The bonds, according to J. W. Freeman, counsel for the Stockett and Belt banks, were issued in 1917 for five years and are overdue. The mine is not operating at present, he stated.