Articles (Sept 17, 1930) report the New Salem State Bank closed and that the bank's receivers are paying dividends to depositors (e.g., Red Cross). No mention of a depositor run; receivership indicates permanent closure. Date of closure not specified in text beyond reporting on receivers' dividends.
Events (2)
1.September 17, 1930Receivership
Newspaper Excerpt
A 7.4 per cent special dividend was received by Mr. Furness this morning from the bank's receivers. This makes the total dividends paid by the bank receivers on the Red Cross deposit 67.4 per cent.
Source
newspapers
2.September 17, 1930Suspension
Cause
Government Action
Cause Details
Bank closed and a receiver was appointed; receivers paying dividends to depositors.
Newspaper Excerpt
Morton county's chapter ... getting back the money it lost when the New Salem State bank closed
Source
newspapers
Newspaper Articles (2)
1.September 17, 1930The Bismarck TribuneBismarck, Mandan, ND
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Article Text
Morton's Red Cross Gets Dividend from New Salem Receiver Morton county's chapter of the American Red Cross is slowly but surely getting back the money it lost when the New Salem State bank closed, it was announced today by A.° W. Furness, secretary of the county Red Cross. A 7.4 per cent special dividend was received by Mr. Furness this morning from the bank's receivers. This makes the total dividends paid by the bank receivers on the Red Cross deposit 67.4 per cent, Mr. Furness explained. Red Cross funds are distributed to all banks in the county, the secretary said in explaining why the funds were placed in the New Salem bank before it closed.
2.September 17, 1930The Bismarck TribuneBismarck, ND
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Article Text
Morton's Red Cross Gets Dividend from New Salem Receiver
Morton county's chapter of the American Red Cross is slowly but surely getting back the money it lost when the New Salem State bank closed, it was announced today by A. W. Furness, secretary of the county Red Cross. A 7.4 per cent special dividend was received by Mr. Furness this morning from the bank's receivers. This makes the total dividends paid by the bank receivers on the Red Cross deposit 67.4 per cent, Mr. Furness explained. Red Cross funds are distributed to all banks in the county, the secretary said in explaining why the funds were placed in the New Salem bank before it closed.
