10790. Security State Bank (Courtenay, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 1, 1921*
Location
Courtenay, North Dakota (47.222, -98.566)

Metadata

Model
gpt-5-mini
Short Digest
1a54968ad4fea787

Response Measures

None

Description

Articles indicate the Security State Bank of Courtenay was closed by the bank examiner (Apr 1921) and later handled by a state-appointed receiver (C. H. Reimers, Feb 4, 1922) with assets offered for sale (Oct–Nov 1922). No article describes a depositor run. OCR shows a minor spelling variant 'Courtney' in one piece; corrected to Courtenay.

Events (3)
1. April 1, 1921* Suspension
Cause
Government Action
Cause Details
Closed by the bank examiner (state banking authority) as reported in April 1921.
Newspaper Excerpt
Another North Dakota Bank Closed. The Security Bank of Courtney has been closed by the bank examiner.
Source
newspapers
2. February 4, 1922 Receivership
Newspaper Excerpt
Appointment of district receivers ... This district embraces the following closed banks: Security State of Courtenay ... C. H. Reimers, of Carrington, 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 will be received up to November 15, 1922: ... Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington.
Source
newspapers

Newspaper Articles (8)
1. April 15, 1921 The Pioneer Express Pembina, ND
Article from The Pioneer Express, April 15, 1921

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Article Text

FACTS THAT CANNOT BE DENIED. James A. McCullough, who claims to be a resident of Fargo, severely critizes the "Current Events," a periodical that is circulated among the schools of the state, for calling attention to the number of bank failures in the state, that week. The paragraph referred to reads as follows: "Another North Dakota Bank Closed. The Security Bank of Courtney has been closed by the bank examiner. It is about the thirty-fourth bank that has been closed in North Dakota in a few weeks, due to the claimed unsoundness of methods of the so-called Nonpartisan League." Mr. McCullough then goes on and rants the old story that "Big Biz" is at the bottom of the whole difficulty. It is about time that these disciples of Townleyism should open their eyes and see the cause of the finan-, cial difficulty of the state. Everything that the League has undertaken has proved a financial failure. The Bank of North Dakota scheme had nothing back of it but visionary ideas. The Homebuilders scheme fell flat. Their hail insurance is a bill of expense to the farmers and the insured does not get his money when he suffers loss. The school money of the state is gone to goodness knows where. The farmers chain of stores are in the hands of a receiver and they are closing them as fast as they can be closed to save the wreckage, etc. Yet they have the audacity to say that it is "Big Biz" that is causing all the trouble. It is the leaders of the Nonpartisan party that is causing all the trouble. It is the leaders like Mr. Lemke and others who are to blame for the farmers of the state losing a dollar a bushel on

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

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Article Text

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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Article Text

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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Article Text

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

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Article Text

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.)

7. September 5, 1923 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, September 5, 1923

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OBJECTS TO JURISDICTION William Lemke Opposes Supreme Court Jurisdiction In Bank Matter Judge C. M. Cooley of Grand Forks will hear arguments in Fargo today on the demurrer filed by William Lemke as attorney for the Security State Bank of Courtenay in the petition of Attorney-General George F. Shafer to have that bank as well as numerous others declared insolvent and receivers appointed as provided by an act of the 1923 legislature.

8. February 6, 1925 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, February 6, 1925

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# NEW GASOLINE # BUS ORDERED Fargo, N. D., Feb. 6. A new bus of the gas electric type, will replace the gasoline motor bus now running between Fargo and Lisbon, within a few days, it was announced at the Fargo offices of the Northern Pacific. The B-5, a newer type of the gas electric bus, arrived in Fargo and will be used on the Fargo to Staples run. The new bus seats 52 passengers, has a smoking compartment, a large baggage compartment and a small observation platform. This bus replaces the B-3, which was put in service early this winter on the Staples run. The B-3, which is now undergoing minor changes in the St. Paul shops, will be placed in service on the Lisbon line. The B-3 seats 55. The Northern Pacific will have three rail motor buses operating out of Fargo when the B-3 is put in service; to Staples, to Jamestown, and to Lisbon. Two other new cars of the B-5 type will be sent to Montana for service out of Glendive. # DECISION OF SUPREME COURT From Stutsman County C. H. Reimers, as Receiver of the Security State Bank of Courtenay, North Dakota, Plaintiff and Respondent, vs. L. H. Larson, Defendant and Appellant. C. H. Reimers, as Receiver of the Security State Bank of Courtenay, North Dakota, Plaintiff and Respondent, vs. Lars Nelson, Defendant and Appellant. C. H. Reimers, as Receiver of the Security State Bank of Courtenay, North Dakota, Plaintiff and Respondent, vs. J. H. Albrecht, Defendant and Appellant. SYLLABUS: (1) Under Chapter 137 of the Laws of 1923, an action brought by the receiver of an insolvent bank against stockholders to realize upon the superadded statutory liability, may be brought in the county where the defendants reside. (2) In an action by the receiver against stockholders to realize upon the superadded liability, under Section 5168 of the Compiled Laws of 1913 and Chapter 53 of the Session Laws of 1919, a stockholder may not offset the indebtedness owing to him by the bank. (3) Under the facts disclosed in the record, it is held that an instruction to the effect that the books of the bank were presumed to be correct, and that the fact that the defendants were officers made the presumption stronger, and that the burden was upon the defendants to establish that they were not stockholders by a fair preponderance of the evidence, was not prejudicial to the defendants. Appeal from the District Court of Stutsman County, Hon. Fred Jansonius, Judge. Affirmed. Opinion of the Court by Birdzell, J. Lemke & Weaver, Fargo, N. Dak. Attorneys for Appellants. C. B. Craven, Carrington, N. D., Attorney for Respondent. Conmy, Young & Burnett, Fargo, N. D., Attorney for L. R. Baird, Receiver.