Newspapers (Jan 10, 1929) state the State Guaranty Bank of Mott was closed by a scare run about two years earlier and remains closed in liquidation but is paying dividends to depositors. This indicates a run led to suspension/closure and ongoing liquidation/receivership. Dates for the original run/suspension are not given precisely; the article estimates ≈2 years before Jan 10, 1929 (~1927).
Events (3)
1.January 1, 1927*Run
Cause
Rumor Or Misinformation
Cause Details
Described in the paper as a scare run, implying withdrawals driven by rumors/nervousness rather than bank insolvency.
Newspaper Excerpt
was closed by a scare run about two years ago.
Source
newspapers
2.January 1, 1927*Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank suspended/closed following the scare run; placed in liquidation with state bank examiner and former cashier handling collections.
Newspaper Excerpt
The Mott bank closed years ago ... closed by a scare run about two years ago.
Source
newspapers
3.January 10, 1929Receivership
Newspaper Excerpt
A 20 per cent dividend will be paid to depositors of the closed State Guaranty Bank of Mott ... Further dividends will be paid later when slower assets can be liquidated. George J. Helming, former cashier, has been in charge of collections. (Jan. 10, 1929).
Source
newspapers
Newspaper Articles (2)
1.January 10, 1929Morning PioneerMandan, ND
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Article Text
MOTT BANK WILL PAY ANOTHER TWENTY PERCENT
Mott, (Special largest total by any closed bank today credited to the closed North declared State Guaranty bank of Mott which per cent dividend through the state bank this week dividend of 40 cent was depositors in the last The total of 60 the largest made by any closed per cent bank dividends paid in successive years financial condition experts point out The Mott bank closed years ago a result of Further the dividends will be paid with liquidation assets still former cashier George Helming has been in charge of collecand has had excellent success settlements, reports indicate.
2.January 10, 1929The Bismarck TribuneBismarck, Mandan, ND
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Article Text
CLOSED MOTT BANK PAYING DEPOSITORS (Special to the Tribune) Mott, N. Dak., Jan. 10.-A 20 per cent dividend will be paid to depositors of the closed State Guaranty Bank of Mott as soon as checks can be prepared, it was announced today by the state bank examiner. A 40 per cent dividend was paid about a year ago to depositors of the bank. Sixty per cent is the largest amount paid in dividends to date on any closed state bank in North Dakota and reflects a healthy condition in the assets of this bank which was closed by a scare run about two years ago. Further dividends will be paid later when slower assets can be liquidated. it is said. George J. Helming, former cashier, has been in charge of collections.
