Bank of North Dakota - Bismarck, ND

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: June 30, 1923
Location: Bismarck, North Dakota (46.808, -100.784)

Metadata

Model: gpt-5-mini
Short Digest: b32e47800cae5f99

Response Measures

None

Description

Article (7/6/1923) reports heavy withdrawals from the Bank of North Dakota (statement as of 1923-06-30) — funds deposited by county treasurers dropped sharply — but no suspension, closure, or reopening is reported. Cause of withdrawals is not specified in the text, so classified as 'other'.

Events (1)

1. June 30, 1923 Run

Cause Details: Article only states 'heavy withdrawals' (not attributed to rumors, bank insolvency, correspondent failures, or macro news); large county treasury redeposits decreased sharply.
Newspaper Excerpt: Money deposited by county treasurers does not remain there long... after meeting heavy withdrawals, cash and due from banks and trust companies $1,281,119.37, as compared to $3,648,327.80 April 3.
Source: newspapers

Newspaper Articles (1)

1. July 6, 1923 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, July 6, 1923

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Article Text

BANK LOSSES ON DECREASE REPORT SHOWS Bank of North Dakota Present Book Loss Is Cut to $25,000 by C: R. Green WITHDRAWALS HEAVY Money Deposited by County Treasurers Does Not Stay in Bank Long Money deposited in the Bank of North Dakota from collection of taxes by county treasurers does not remain there long, the statement of the bank made today in conformity with the call of the state examiner for bank statements, shows. The statement of the bank of April 3, 1923, showed there was due county treasurers $2,550,676.17 while the statement as of June 30 shows but $483,803.47 due county treasurers. The bank shows, after meeting heavy withdrawals, cash and due from banks and trust companies $1,281,119.37, as compared to $3,648,327.80 April 3. Heavy advances have been made to the North Dakota State Mill and Elevator Association, operating the Grand Forks and Drake state mills. The June 30 statement shows $683,646.53 advanced to the mill and elevator operating account as compared with $300,000 on April 3. A further decrease in the losses charged against the bank at present is shown under the management of C. R. Green. The June 30 statement s'lows loss over earnings to be $25,188.04, April 3 showed it to be $77,723.87 and the statement of last December 29 showed loss over earnings $142,664.61. There is no great change in the relation of the Bank of North Dakota to closed banks. Officials, in speaking of losses, always state that until there is a final settlement of these accounts it is not known just what losses the bank has sustained. Loans to open banks on June 30 were $734,786.41; on April 3, $783,342.29. Redeposits in closed banks, June 30, $218,969.80; loans to closed banks, $417,566.89; receivers' certificates proof of claims, $932,620.67. On April 3, redeposits in closed banks, $254,381.50; loans to closed banks, $381,597.36; receivers' certificates proof of claims, $757,392.56. An increase in the amount loaned the farm loan department from $1,$51,597.45 on April 3 to $2,568,606.76 on June 30 is shown. The deposit statement of the bank as of June 30 shows sinking funds due treasurers, $494,733.50; certificates of deposit $2,164,390.56; individual deposits $33,614.58; county treasurers $483,803.47; city treasurers $1,412.89; township treasurers $232,842.75; school treasurers $480,$2,839,968.04. 5.00 state treasurers There is listed as due to the state treasurer as interest on bonds of the bank series, $90,505.49.