10752. Security State Bank (Brantford, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 28, 1921
Location
Brantford, North Dakota (47.598, -98.923)

Metadata

Model
gpt-5-mini
Short Digest
75991e16eb77c3d8

Response Measures

None

Description

Newspapers report the Security State Bank of Brantford as closed by July 1921 and placed in receivership by the state banking board (receiver C. H. Reimers) in Feb 1922; assets offered for sale Oct–Nov 1922. Later litigation (1924–1925) documents officer theft/peculation causing shortages. No article describes a depositor run prior to suspension; sequence is suspension followed by receivership and asset liquidation (permanent closure).

Events (4)
1. July 28, 1921 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was reported closed by July 1921; later court findings (1924) show officers appropriated funds producing a large shortage, indicating bank-specific malfeasance led to closure.
Newspaper Excerpt
Security State bank ... Brantford, Eddy county, of has Private closed.
Source
newspapers
2. February 4, 1922 Receivership
Newspaper Excerpt
appointment of C. H. Reimers ... This district embraces the following closed banks: Security State of Brantford ... as receiver for the New Rockford district.
Source
newspapers
3. October 26, 1922 Other
Newspaper Excerpt
Sealed bids for the purchase of all the assets of the closed banks listed below ... Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington.
Source
newspapers
4. September 15, 1924 Other
Newspaper Excerpt
Judgment ... in favor of depositors in the closed Security State bank of Brantford ... bonding firm liable for money appropriated from the bank's funds by Dewey Miller and Nels Ostrum ... shortage of over $16,000.
Source
newspapers

Newspaper Articles (9)
1. July 28, 1921 Cavalier County Farmers Press Langdon, ND
Article from Cavalier County Farmers Press, July 28, 1921

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here. Grand Niles Fire destroyed the Cullen Forks vator Grand Forks- Growers' The association July 23. Wool convention at the County held its annual were elected ProVelva- Directors of the Velva Coal annual meeting here. Kirkland of Van has ducts company Hook-Rev accepted R. J. a call to Searcy, Ark., Church of the Nazarene. has resigned as Elevator has the Parshall- business local manager E. Hannon company. of the Farmers just a completed Cooperative Stanley-The big Stanley booster band tour of this the Fort section. Elbowoods-Inrecervation Indians of will hold Berthold a fair here Indian September Gilbert 26 W. to 28. Davis, North Da- 85 a is dead. face years Fargo- old and Col. last resident 25 years, of schools kota for the Bowman inability financial Bowman- stringency The state. due to father a to get funds from Popelka, the 45, followed years Mandan- example John set by his with a shotgun. six damthe killing himself 10,000 hail year. Bismarck-Abo filed this year at age claims have the figure last This about exceeds 1,000. 56, this time by Smith, negro, He Bismarck- Carl Bismarck in 1950. then has a barred date in from the for city vagrancy until have was following his arrest Funeral services Grand Forks- N. Wells, pioneer vicnorthwest been hotel held for H. man. He was a of pneumonia. working in a sandpit tim Mandan-Be Boys here discovered the training school coal which a stove at vein of lignite freely. a test proved burns The Normal school July closThe Dickinson- session largest 20. on record. ed its enrollment first summer of 382 was the North State Dakota sesscommended Raptist Minot-The convention, President at its closing Harding for conference. ion, the disarmament Hydle, who for sevcalling Bowbells L. L. as superintendent af- of eral Bowbells years acted schools, National has become bank. filiated the with the First The Grand Forks Sal- day vation Grand Army Forks- corps pay staged indebtedness a tag in- its curred to raise in funds organizing to and equipping band. Forks An attempt bank here to reopen is exGrand Peoples State the announcement the pected of as $50 the assessments result of levied against Soo stockholders. Uchner, has former been given his plea depot agent suspended at sentence on misapa 3-year of guilty to charges of propriating Jamestown- $400. Raising Tamestown of a $1,000,000 colthe endowment fund for Pres. Kroeze before Preslege North was urged Dakota by synod of the Dakota byterian Grand church. Forks- association The North is reported Juma ber at loss to Home have Builders disposed of of 25 a per supply cent of to the Divide state. Miss Anna Black, Miss Lois Crosby Red Cross nurse, of court, and were they incounty Hatch, deputy clerk in which were riding tured when struck the auto a stretch of sand and overturned. eassessment of Brace propBismarck- towns of Carrington. Borerty in the McHenry, Melville. Barlow City, Jaunita, Dundas and been dulac, Brantford. ordered because of comhas plaints Minot-Because of inequalities. Minot's a "paying police proposi- court has failed to prove committee has Lynch been tion" a special Magistrate John ordinto named impose to ask heavier fines on city of ance violators. Forks- "The elimination slogan Grand by 1924, is department the of adopted ilteracy by the state in its campaign Niel- for public betterment. instruction Miss Minnie announced J. school superintendent, of the son, state special convocation here at a school. auditor, university summer C. Poindester. auditor state of Bismarck- has directed the against the Slope county to treasurer. proceed J. S. Doug- the recover former county about $60,000, funds which amount las. to of Slope two county Amidon banks, without he deposited bonds, in it is charged. The two banks have Upwards closed. of 1,000 people of Mandan- in the tour of inspection Holstein took part the North Dakota Salem, lis tened Breeding farms of to circuit the made stories money at New of despite the Inspected farmers unfavwho have conditions. and creamy orable herds. crop Milk, rich. full thirst their milk. was supplied farm. as a quencher cow's at farm after Security State bank Bismarck-T Brantford, Eddy county, of has Private closed. of Bismarck- The body boy who McGarvey, a Bismarek War, sacrificed Ralph his life in the World

2. February 4, 1922 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, February 4, 1922

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ALL DISTRICT RECEIVERS ARE NOW APPOINTED C. H. Reimers of Carrington is Named Head of New Rockford District Appointment of district receivers under which many closed banks are to be handled by a very few receivers was completed by the state banking board with the appointment of C. H. Re.niers, of Carrington, as receiver for the New Rockford district. This district embraces the following closed banks: Security State of Courtenay, Security State of Brantford, Farmers State of Walum, Bank of New Rockford, Citizens State Bank of Pingree. /There are a few banks which the banking board has not been able to include in its consolidation effort, which was undertaken to reduce ex penses and to obtain more efficient supervision of closed banks, according to members of the board. because a few receivers refused to resign - and obtained confirmation of their appointments by the courts. No change of receivers was made in some cases because there is said to be excellent prospect of the banks reopening. L. C. Vorbayda, of Lawton, and O. Eide, of Devils Lake, have been named deputy state examiners. Eide will be stationed at Jamestown.

3. February 4, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, February 4, 1922

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Appointment Of Bank Receivers Completed Bismarck, N. D., Feb. ...Appointment of district receivers under which many closed banks are to be handled by a very few receivers was completed by the state banking board with the appointment of C. H. Reimers. of Carrington, as received for the New Rockford district. This districe embraces the following closed banks: Security State of Courtenay; Security State of Brantford; Farmers State of Walum; Bank of New Rockford; Citizens State bank of Pingree. There are a few banks which the banking board has not been able to include in its consolidation effort, which was undertaken to reduce expenses and to obtain more efficient supervision of closed banks, according to members of the board ,because a few receivers refused to resign and obtained confirmation of their appointment by the courts. No change of receivers was made in some cases because there is said to be excellent prospects of the banks reopening.

4. October 26, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, October 26, 1922

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LEGÁL NOTICES BANK ASSETS FOR SALE Sealed blds for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley, North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton, Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford, New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith, North Dakota. C. F. Kellogg, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bide should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

5. October 27, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, October 27, 1922

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LEGAL NOTICES BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers. State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota, O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank; Leith. North Dakota. C.F. Kellogs, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. CrocumState Bank, Crocus, North Dakota. Fred F Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen, receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kelfogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogs. receiver, Bismarck. Security State, Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. / Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal.

6. November 2, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, November 2, 1922

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TYPEWRITERS FOR SALE REBUILT MACHINES $30 AND UP; guaranteed for one year. Send for catalog. Russell E. Spear, Grand Forks. WANTED TO BUY. LATE MODEL FORD TOURING CAR wanted. Must be in good condition and reasonable. Phone 2551-J. WANT TO BUY - MEDIUM SIZE house at reasonable price. O. E. Fosse. Box 131. WANTED TO BUY-USED CAR. FORD sedan preferred. George Andrysak, Hannah, N. D. LEGAL NOTICES. BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett. receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen. receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs. North Dakota. H. B. Hanson, receiver. Crystal Springs. Bank of New Rockford. New Rockford. North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith. North Dakota. C. F. Kelloge, receiver. Bismarck. Peoples State Bank. Grand Forks, North Dakota. John Vallely. receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota, Fred F. Walz. receiver. Egeland Security State Bank, Courtenay. North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper North Dakota. D. L. Engen. receiver Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank. Pingree. North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazon, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford. North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner. Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer. North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community. all bids to be accompanied by certified check of one per cent/ of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

7. November 3, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, November 3, 1922

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LEGAL NOTICE BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank, Leith. North Dakota. C. F. Kellogg. receiver. Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver. Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer. North Dakota. C. F. Kellogg. receiver, Bismarck. Williston State Bank, Williston. North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal. Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton, North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

8. September 15, 1924 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, September 15, 1924

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SURETY FIRM HELD LIABLE TO DEPOSITORS Judgement to be Entered in Court for About $20,000 For Brantford Bank Carrington, N. D., Sept. 15.--Judgment for an amount approximating $20,000 will be entered against a New York insurance firm and ultimately in favor of depositors in the closed Security State bank of Brantford, as a result of the decision by C. W. Burnham, referee, Monday, in his report to J. A. Coffey, judge of the district court, in chambers at Jamestown. The verdict holds the bonding firm liable for money appropriated from the bank's funds by Dewey Miller and Nels Ostrum, active officers of the institution at the time it closed. The company, the National Surety Co. of New York, had a $10,000 bond on each of the two officers and judgment was taken for $8,101.84 each on the two bonds, together with 6 per cent interest on those sums from the 18th of July, 1921. The total amount will be around $20,000. Theft Charged Officers The amount of the alleged peculations was determined by a careful examination of the bank books which disclosed a shortage of over $16,000. The case was brought by C. H. Reimers, at that time receiver for the bank under an appointment from the governor. When it was called in district court in Foster county at the March, 1923, term, it was agreed that as a preliminary a long and careful audit of the bank's books must be made and Judge Coffey at that time appointed Attorney C. W. Burnham of Carrington as referee to hear the testimony and go over the books with the attorneys. The case was tried before the referee a year ago last July. Record Verdict Here Lawrence, Murphy & Nilles appeared in the case for the eastern insurance company, while C. B. Craven of Carrington represented Mr. Reimers as receiver. It is one of the largest verdicts ever obtained in a Foster county court action. It is not announced at this time whether or not the insurance company will appeal.

9. August 7, 1925 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, August 7, 1925

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# Supreme Court Decisions From Stutsman County A. E. Albaugh, Plaintiff and Appellant, vs. Osborne-McMillan Elevator company, a corporation, Defendant and Respondent. Syllabus: When an elevator company files in a district court a sworn statement showing that it holds storage tickets for grain, which is claimed by different persons, and requests for court to appoint someone with whom said elevator company can deposit the storage tickets, and the court appoints the clerk of said court, and an action is brought to foreclose a lien claimed for threshing the grain, in which action the elevator company and all parties claiming an interest are made defendants, and the grain as shown by the sworn statement is more than enough to pay the thresher's lien, and the elevator company deposits tickets for a less amount than as stated in the sworn statement and not sufficient to pay the thresher's lien, the obtaining of a judgment in foreclosure and the sale and application of the proceeds of the grain upon the thresher's lien does not prevent plaintiff from proceeding against the elevator company for conversion of other grain covered by said lien. Appeal from order and judgment dismissing action in District Court, Stutsman County, Hon. J. A. Coffey, Judge. Reversed and Remanded. Opinion of the Court by Burke, J. J. S. Carr of Jamestown, N. D., attorney for appellant. Combs & Ritchie of Jamestown, N. D., attorneys for respondent. From Foster County. L. R. Baird, (Substituted for C. W. Reimers) Receiver of the Security State Bank of Brantford, a corporation, Plaintiff and Respondent, vs. National Surety Company of New York, a corporation, and Nels E. Ostrem, Defendants and Appellants. Same Plaintiff and Respondent vs. National Surety Company of New New York, a corporation, and Dewey Bernhard Miller, Defendants and Appellants. (Companion cases.) Syllabus: 1. In an action at law, to recover on a surety bond, referred by stipulation to a referee to take the testimony, make findings of fact and conclusions of law, and which findings and conclusions were approved by the trial court, it is held that on appeal such action is not triable de novo. 2. Books and records, which, on their face, purport to be the books and records of a bank, and which, upon the closing of the bank, were found in the possession of the president and cashier of the bank by a Deputy State Examiner, who also identified the same as books and records examined by him as a Deputy State Examiner at different times while the bank was open and trans-acting business, are, for reasons stated in the opinion, held to be admissible in an action by the receiver of the bank against the president and cashier, upon their bonds as officers of the bank. 3. Books and records kept by a principal obligor are admissible in evidence as against the surety. 4. The court may, in its discre-