Stockmen's National Bank (Poplar, MT)

View Charter #11027 on SPMC View balance sheet

Episode Information

Episode Type
Suspension → Closure
Start Date
January 28, 1922
Location
Poplar, Montana (48.113, -105.198)
Bank Type
national
Charter Number
11027
Alt. names
First National Bank

Metadata

Episode ID
Bank ID
City ID
300775362
Model
gpt-5-mini
Short Digest

Receivership Details

Depositor recovery rate
2.6%
Date receivership started
1922-01-28
Date receivership terminated
1919-09-24
OCC cause of failure
Economic conditions
Share of assets assessed as good
9.9%
Share of assets assessed as doubtful
64.0%
Share of assets assessed as worthless
26.0%

Notes

Articles show bank closed and a receiver appointed; later reorganization was proposed but bank remained in receivership.

Events (5)
1. June 30, 1917 Chartered
Source
historical_nic
2. January 28, 1922 Suspension
Cause
Government Action
Cause Details
Closed and taken into receivership by order of the Comptroller of the Currency; receiver appointed V. M. Smith.
Newspaper Excerpt
the Stockmans National was closed a week ago last Monday, following a meeting of the board of directors.
Source
newspapers
3. January 28, 1922 Receivership
Newspaper Excerpt
V. M. Smith had been appointed receiver of the institution by D. R. Crissinger, comptroller of the currency. Mr. Smith's appointment was officially announced Monday of this week.
Source
newspapers
4. January 28, 1922 Receivership
Source
historical_nic
5. October 1, 1922* Other
Newspaper Excerpt
If the depositors will cooperate with a plan of reorganization ... the Stockmens National bank ... will reopen about the 15th of next month.
Source
newspapers

Newspaper Articles (12)
1. February 10, 1922 The Glasgow Courier Glasgow, MT
Article from The Glasgow Courier, February 10, 1922

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Article Text

RECEIVER APPOINTED FOR POPLAR STOCKMEN'S. BANK Close on the heels of the news last week that the Stockman National Bank of this city had closed its doors, came the information that V. M. Smith had been appointed receiver of the institution by D. R. Crissinger, comptroller of the currency. Mr. Smith's appointment was officially announced Monday of this week. The books, papers and files of the Stockmans National have been moved to the First National bank building where Mr. Smith and Mr. Howard Alger, special representative of the Federal Reserve Bank, have been at work preparing reports and handling the affairs of the latter institution, which has been defunct since last October. By moving the books and files to the First National building it will be possible for Mr. Smith and Mr. Alger to handle the affairs of both banks from one ofice. The Stockmans National was formerly the First National Bank of Brookton and was moved to this city last October shortly after the First National of this city closed. The Stockmans National was closed a week ago last Monday, following a meeting of the board of directors.-Standard

2. February 10, 1922 The Producers News Plentywood, MT
Article from The Producers News, February 10, 1922

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Article Text

SMITH IS RECEIVER FOR STOCKMAN BANK Poplar Standard: Close on the heels of the news last week that the Stockman National Bank of this city had closed its doors, came the information that V. M. Smith had been appointed receiver of the nstitution by D. R. Crissinger, comptrolloi of the currency. Mr. Smith' appointment was officially announced Monday of this week. The books, papers and files if the bockman's National have been moved to the First National Bank building where Mr. Smith and Mr. Howard Alger, special representative of the Federal Reserve Bank, have been at work preparing reports and handling the affairs of the latter institution, which has been defunct since last Cctober. By moving the books and files to First National building it will be possible for Mr. Smith and Mr. Al ger to handle the affairs of both banks from one office. The Stockmans National was formerlly the First National Bank of Brockston and was moved to this city last October shortly after the First National of this city closed. The Stockmans National was closed a week ago last Monday following a meeting of the board of directors. *

3. September 12, 1922 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, September 12, 1922

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Article Text

# ACQUIT POPLAR # MEN UP HERE # IN BANK CASE Bourquin Directs Verdict on Motion of Hurd, Counsel for Defendants. Charles Trinder and Don W. Jacobus, officers of the Stockmen's Na- tional Bank of Poplar, charged with violation of the national banking laws, were acquitted in federal court Monday morning when Judge George M. Bour- quin directed a verdict of not guilty on all of seven counts. A separate case against Trinder is set for trial this morning. The directed verdict was made on motion of George E. Hurd, attorney for the defendants, after the evidence of the government had been presented by Assistant District Attorney W. H. Meigs. The two were charged with making loans with shares in the bank as security and with making false en- try in national bank reports. The court held that while the notes of the Stock- men's National bank to the Conrad Trust & Savings bank might be of the nature of a guarantee, not to be de- cided in this case, of the Stockmen's to the Conrad institution, yet they were not of such a nature as is required to be reported in the Stockmen's National bank's report to the comptroller of the currency. Tells of Organization. Among the witnesses called by the government were Hollie Fite, who tes- tified as to the organization of the bank; P. B. Bartley, who told of the giving of the notes concerned in the case and their renewal; and V. M. Smith, receiver of the Stockmen's bank, who testified to having received the bank's books, and that they did not show endorsement by the stockholders. Alfred Leyborn, national bank exam- iner, was not present when called as a witness in the case, having been de- layed by a late train. It was then that the defense moved that the court order a directed verdict on the ground of lack of proof. The motion was granted on the first four counts of the indictment. In offering further evidence on the remaining three counts, charges of making false entries in national bank reports, Didana Griffith, an employe of the bank, was called. She testified to making the report from a copy in the handwriting of Jacobus. Leyburn had then reached court and testified. The motion for a directed verdict was re- newed and granted on the remaining counts. The charge upon which Trinder will be tried this morning will be that of over-certification of a check by an officer of a national reserve bank. Set Cases for Butte. The court ordered that E. H. Wood- ward and James O'Brien be arraigned on the first day of the term at Butte to answer liquor charges, O'Brien be- ing now in jail and Woodward being out on bond. The government brought suit in the case of Robert Lavelle and others to recover bond from the bondsman, Tim Lavelle, and judgment for the amount of the bond was ordered by the court. Proceedings in the case of Seth J. Newland, who defaulted as a juror, were ordered dropped, when it was shown that he was out of the city at the time of the summons and that they did not reach him. Other cases set for today are civil cases of the government against indi- viduals.

4. September 13, 1922 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, September 13, 1922

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Article Text

# TRINDER FOUND # NOT GUILTY ON # CHECK CHARGE Question of Wilful Intent Emphasized in Court's Instructions. Charles R. Trinder, formerly president of the defunct Stockmen's National Bank of Poplar, was found not guilty on charges of over certification of a check, on his trial in federal court Tuesday. The trial was the second undergone by Trinder, a directed verdict being brought in Monday when he was a co-defendant with Don Jacobus, cashier of the bank, charged with violation of national banking laws. Trinder was alleged to have had Jacobus certify a check made out by Trinder at a time when Trinder's bank balance was overdrawn. Trinder, when on the stand, did not deny that the balance was overdrawn, but said that he believed at the time he drew the check that the balance was sufficient to meet it. Wilful Intent Not Proven Under the instructions of Judge George Bourquin to the jury, Trinder could not be held for the violation, should the jury believe that it was not wilful intent. He also instructed them to take into consideration the fact that the over-certified check was for only $13.71, under the inference that a larger check might be inferred to show wilful intent not present in drawing the smaller check. Assistant District Attorney Ronald Higgins, for the government, called as witnesses persons connected with the bank, including Diana Griffith, an employe; Alfred Leyburn, national bank inspector; V. M. Smith, receiver, and others. Miss Griffith testified that she had called Trinder's attention to his overdrawn account several times. Trinder said that he understood that money owing him from the bank had been deposited to meet this. Court Ordered a Directed Verdict The testimony showed that the check was given to A. A. Benson for deposit in a land deal, after Benson had refused to accept a bank draft. On motion of Attorney George George Hurd for the defense, the court ordered a directed verdict in the last two of the four counts on which Trinder was being tried and refused to do so in the case of the first two counts. All four counts were related to the same act, the last two dealing with recent statutes as to the principal and accessory to a violation of federal laws.

5. September 21, 1922 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, September 21, 1922

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Article Text

POPLAR BANKER IS FOUND GUILTY CASHIER O. RAMSTEAD MADE FALSE ENTRIES U. S. JURY FINDS Otto Ramstead, former cashier of the First National bank of Poplar, was found guilty of making false entries regarding bills payable by the bank, in its report to the comptroller of the currency, by a jury in federal court Monday afternoon. The jury was out little more than half an hour on the case. Hearing motions by defense and attorneys and passing sentence was delayed until this morning. The charge against Ramstead was one of several cases that had been tried in this term of federal court against persons connected with the Stockmen's National bank and First National bank of Poplar, both of which later went into the hands of a receiver. Charles R. Trinder, President of the Stockmen's and stockholder in the First National, who had been freed on three different charges this term in connection with alleged violation of the national banking laws t was a witness for Ramstead in this case. Accused on Two Counts t Ramstad was charged in the first la of the two consolidated cases with t having entered on the bank report W liabilities of some $29,000, when, it W was charged, the liabilities were in a reality some $49,000; on the second is count, he was charged with having hi had entered in the report false y statements regarding bills payable. in "In the opening of the case Monday ea W. A. Vosback, formerly assistant ce cashier of the First National, first 01 charged jointly with Ramstad and W against whom the charges had been vi dismissed, was recalled to the witAl ness stand and testified regarding di receiving certain telegrams from W Ramstead, while the latter was in I, Minneapolis, and was said to have La been negotiating loans which were pu under dispute in the case. The teleth grams gave instructions to send certain warrants and securities.

6. October 13, 1922 The Producers News Plentywood, MT
Article from The Producers News, October 13, 1922

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Stockmen's National Bank Will Also Open at Poplar Poplar, October 10.-If the depositors will cooperate with a plan of reorganization that has been submitted to them ( the Stockmens National bank of this city, closed since last year, will reopen about the 15th of next month, according to a statement made this week by Charles R. Trinder, former president of the bank. The plan of reorganization is similar in many respects to the plans adopted by other institution in the state which were forced to suspend because of the unusual conditions which have prevailed in the country during the past year or so. In brief, the depositors are asked to accept certificates of deposit for part of their funds and also to apply a certain part of their monies to a fund to defray the cost of reorganization. This is considered an amicable adjustment to all concerned and has been accepted by people in other cities where banks have been closed and Mr. Trinder believes the depositors of the Stockmen's bank will be glad to cooperate in this way. Letters explaining the plan together with agreements to be signed were sent out this week to the depositors of the Stockmen's bank by the committee on reorganization. When the deopsitors have been heard from and one or two other matters have been arranged the reorganization committee will have a definite announcement to make relative to the reopening of the bank.

7. December 15, 1922 The Producers News Plentywood, MT
Article from The Producers News, December 15, 1922

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Article Text

Receiver V. M. Smith Has Completed Work Poplar, Dec. 8.-After working in Poplar for nearly two years as receiver of the First National bank when it WS closed and in the same capacity at the Stockmen's National bank, which is still closed, and also in connection with the John Lundquist estate which was declared bankrupt, V. M. Smith announces that he will complete his duties here next week and leave for Great Falls. In an interview this week Mr. Smith said that the affairs of the First National bank had been closed satisfactorily and that he expected that an announcement in connection with the Stockmen's National Bank would be made by the national banking department within a short time.

8. August 30, 1923 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, August 30, 1923

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# SHERIFF'S SALE In the District Court of the Twentieth Judicial District of the State of Montana, in and for the County of Roosevelt. Mary S. Young, Plaintiff, Vs. Chas. R. Trinder and Josephine Trinder, his wife, the Stockmens National Bank, of Poplar, Montana, a corporation, V. M. Smith, as Receiver of said bank, and J. M. Porter, as General Receiver in Charge of Closed Banks, Defendants. To be sold at Sheriff's Sale on the 8th day of September, A. D. 1923, at 2:00 P. M., at the front door of the Courthouse in the Town of Poplar, County of Roosevelt, State of Montana, to the highest and best bidder for cash in hand, the following described property, to-wit: The Southeast quarter (SE¼) of Section Three (3), Township Twenty-eight (28), North, Range Fiftyone (51) East of Montana Meridian situated in the County of Roosevelt and State of Montana; And in particular all the right, title, claim and interest of the above named defendants in and to the property hereinbefore described, together with all and singular the tenements and hereditaments and appurtenances thereunto belonging or in any way appertaining to the same. Dated this 13th day of August, A. D. 1923 at Poplar, Montana. J. H. ANDERSON, Sheriff of said County. By Chas. Council Under Sheriff. 26-27-28-29.

9. September 6, 1923 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, September 6, 1923

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# SHERIFF'S SALE In the District Court of the Twentieth Judicial District of the State of Montana, in and for the County of Roosevelt. C. L. Dempster, Plaintiff, Vs. Joseph Proctor, the Stockmen's National Bank of Poplar, Montana, V. M. Smith as Receiver of said Bank, and J. M. Porter as Deputy Comptroller of Currency in Charge of Closed Banks, Defendants. To be sold on the 22nd day of September, A. D. 1923, at the front door of the County Court House, at Poplar, Roosevelt County, Montana, at the hour of two o'clock P. M. of said day, the following described real property, to-wit: The Southwest Quarter of the Northeast Quarter, (SW¼ NE¼) of Section Sixteen (16), in Township Twenty-eight (28), North of Range Fifty-one (51) E. M. M., containing forty acres of land, according to the U. S. Government survey thereof. And in particular, all the right, title, claim and interest of said defendants, Joseph Proctor, in and to said property hereinbefore described, together with all and singular the tenements, hereditaments, and appurtenances thereunto belonging or in any way appertaining to the same. Dated this 22nd day of August, A. D. 1923. J. H. ANDERSON, Sheriff. By Chas. Council, Under Sheriff. Moum & Brown, Attorneys for Plaintiff, Poplar, Montana. 28-29-30-31

10. September 6, 1923 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, September 6, 1923

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C. L. Dempster, Plaintiff, Vs. Joseph Proctor, the Stockmen's National Bank of Poplar, Montana, V. M. Smith as Receiver of said Bank, and J. M. Porter as Deputy Comptrol'er of Currency in Charge of Closed Banks, Defendants. To be sold on the 22nd day of September, A. D. 1923, at the front door of the County Court House, at

11. September 13, 1923 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, September 13, 1923

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tieth Judicial District of the State of Montana, in and for the County of Roosevelt. C. L. Dempster, Plaintiff, Vs. Joseph Proctor, the Stockmen's National Bank of Poplar, Montana, V. M. Smith as Receiver of said Bank, and J. M. Porter as Deputy Comptroller of Currency in Charge of Closed Banks, Defendants. To be sold on the 22nd day of September, A. D. 1923, at the front door of the County Court House, at Poplar, Roosevelt County, Montana, at the hour of two o'clock P. M. of said day, the following described real property, to-wit: The Southwest Quarter of the Northeast Quarter, (SW¼ NE¼) of Section Sixteen (16), in Township Twenty-eight (28), North of Range Fifty-one (51) E. M. M., containing forty acres of land, according to the U. S. Government survey thereof. And in particular, all the right, title, claim and interest of said defendants, Joseph Proctor, in and to said property hereinbefore described, together with all and singular the tenements, hereditaments, and appurtenances thereunto belonging or in any way appertaining to the same. Dated this 22nd day of August, A. D. 1923. J. H. ANDERSON, Sheriff. By Chas. Council, Under Sheriff. Moum & Brown, Attorneys for Plaintiff, Poplar, Montana. 28-29-30-31

12. September 20, 1923 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, September 20, 1923

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Joseph Proctor, the Stockmen's National Bank of Poplar, Montana, V. M. Smith as Receiver of said Bank, and J. M. Porter as Deputy Comptrol'er of Currency in Charge of Closed Banks, Defendants. To be sold on the 22nd day of September, A. D. 1923, at the front door of the County Court House, at