10756. American State Bank (Burlington, ND)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
August 17, 1926
Location
Burlington, North Dakota (48.275, -101.429)

Metadata

Model
gpt-5-mini
Short Digest
d6d2fdcbdd3adde6

Response Measures

None

Description

Newspapers refer to the American State Bank of Burlington as a closed bank and a receivership case (L. R. Baird, receiver of state banks) is mentioned in August 1926. No article describes a depositor run; instead the bank is discussed as closed and in receivership, so classification is suspension leading to permanent closure. Article 1 (1921) only lists the bank as a garnishee in county proceedings and does not describe a run or suspension. OCR errors corrected where obvious.

Events (2)

1. August 17, 1926 Receivership
Newspaper Excerpt
L. R. Baird, receiver of state banks, ... the banks in question are the American State Bank of Burlington and the State Bank of Berthold, both in Ward county.
Source
newspapers
2. * Suspension
Cause Details
Articles do not specify a triggering cause for the bank's suspension or closure; only that it is a closed bank being litigated for tax claims.
Newspaper Excerpt
the banks in question are the American State Bank of Burlington ... both in Ward county
Source
newspapers

Newspaper Articles (2)

Article from The Ward County Independent, March 24, 1921

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Article Text

Hald, yes. com Motion carried. Moved by Com. Vandenoever seconded by Com. Spicher that the following resolution be accepted and approved and placed on file: RESOLUTION: WHEREAS, Ward County at the present time has deposited with the Bank of North Dakota in checking account the sum of $194,802.86 together with accrued interest thereon since the first of February, 1921, and WHEREAS, the Board of County Commissioners of Ward county have heretofore designated the banks of Ward County, North Dakota, as the present depositors of its funds, and WHEREAS, the Bank of North Dakota has refused to honor checks of the Treasurer of Ward County, North Dakota. legally drawn on its said checking account. and WHEREAS, the said Bank of North Dakota now has on redeposit in the here inafter mentioned banks of North Dakota, large sums of money, and WHEREAS, the Supreme Court of North Dakota has recently decided that garnishment proceedings may be brot against said Bank of North Dakota, and WHEREAS, the County Commissioners consider it for the best interest of Ward county to bring garnishment proceedings against the funds in the hands of the hereinafter mentioned banks belonging to the Bank of North Dakota. NOW. THEREFORE, BE IT RESOLVED. that the state's attorney of Ward County, North Dakota, be and hereby is instructed to forthwith commence action against the Bank of North Dakota for the sum of money now on deposit with the Bank of North Dakota on checking account belonging to Ward County, North Dakota, and garnishee the following banks. to-wilt: Scandinavian American Bank of Minot, N. D. Second National Bank of Minot. N D., The Union National Bank of Minot N. D., Citizens State Bank of Minot. N. D., First International Bank of Minot. N. D., American State Bank of Burlington, N. D., First State Bank of Burlington, N. D., Citizens State Bank of Douglas, N. D., The First State Bank of Ryder, N. D., First National Bank of Ryder, N. D., First State Bank of Sawyer, N. D., Sawyer State Bank of Sawyer, N. D. The Security State Bank of Deering, N. D., Deering State Bank of Deering, N. D., First State Bank of Surrey, N. D., and the First State Bank of Lone Tree, N. D. On roll call the members voted as follows: Com. Vandenoever, yes. Com. Toftner. yes. Com. Spicher, yes. Com. Haldi, yes. Com. Krantz, yes. Motion carried. Moved by Com. Haldi seconded by Com. Vandenoever that the Board adjourn until 9 a. m., March 16th. 1921. Motion carried. March 16th, 1921 The Board met as per adjournment at 9 a. m., on above date, with all members present and Com. Krantz in the chair. Moved by Com. Vandenoever seconded by Com. Spicher that the report of A. P. Scofield, sheriff of Ward county, for the month of January, for collection of delinquent personal property taxes for the year 1919. to the amount of $167.85. be accepted. approved and placed on file. Motion carried. Moved by Com. Vandenoever seconded by Com. Haldi that the road petition signed by R. L. Ladd and 70 others of Sauk Prairie and Greenbush Townships, for a change of the county road as follows: Beginning at the NW corner of Sec. 19, Twp. 160, Range 87, running east five miles to the NE corner of Sec. 23, thence south three miles to the SW corner of Sec. 36, Twp. 160, Range 87, thence south six miles to the SW corner of Sec. 36, Twp. 159, Range 87, thence two miles southwest down to Donnybrook, be accepted and approved, and placed on file and the chairman instructed to appoint viewers. Motion carried. The chairman appointed the following viewers: Commissioners Vandenoever, Spicher, Haldi and Krantz. Moved by Com. Spicher seconded by Com. Vandenoever that the following


Article from The Bismarck Tribune, August 17, 1926

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Article Text

Counties Seek to Push Tax Claims Whether or not counties may collect taxes on closed banks as preferred claims or must take the same chances of getting their money as other creditors is the point at issue in two cases before Judge Charles M. Cooley, in charge of adjudicating matters with regard to closed banks, argued in district court here. The banks in question are the American State Bank of Burlington and the State Bank of Berthold, both in Ward county. The cases were prepared by Ward county authorities but were argued here by Tax Commissioner T. H. H. Thoresen, who entered the case because of his desire to have the question adjudicated. It has never been decided before, Thoresen said, and is of far-reaching importance, since it will determine the right of the state and various political subdivisions to collect taxes owing to them by banks at the time the institutions closed. In the two cases in question considerable amounts of delinquent taxes are involved. L. R. Baird, receiver of state banks,