11199. Hewitt State Bank (Basin, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 28, 1910
Location
Basin, Montana (46.271, -112.264)

Metadata

Model
gpt-5-mini
Short Digest
71dc15d6

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (Nov 28–30, 1910) report the Hewitt State Bank at Basin, MT was closed by the state bank examiner (acting on orders of the attorney general). Reports state stockholders had overdrawn and the bank 'has failed to pay as an investment.' No run or depositor panic is mentioned in these items; the action appears to be an official closure by regulators and the bank did not reopen in these reports.

Events (1)
1. November 28, 1910 Suspension
Cause
Government Action
Cause Details
Closed by state bank examiner (acting on orders of the attorney general) after stockholders had overdrawn and the bank failed to pay as an investment.
Newspaper Excerpt
The Hewitt State bank at Basin, Mont., was closed by the state examiner today. A statement said the stockholders have overdrawn and the bank has failed to pay as an investment.
Source
newspapers

Newspaper Articles (10)
1. November 29, 1910 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, November 29, 1910

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Article Text

SMALL BANKS ORDERED TO CLOSE IN MONTANA | Butte, Mont., Nov. 28.-The Hewitt State bank at Basin, Mont., was closed by the state examiner today. A statement said the stockholders have overdrawn and the bank has failed to pay as an investment. M. L. Hewitt, mining promoter, is president and former Governor A. E. Spriggs is vice-president. The capital is $30,000 and the deposits $35.000. The banking firm of Friday and Jenniseens at Harlowton was closed today and. as a result, several Harlowton business firms have passed into receiver's hands. The extent of the liabilities and assets are not known. ponding a statement to follow examination,

2. November 29, 1910 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 29, 1910

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Article Text

EXAMINER CLOSES TWO BANKS IN NORTHWEST Stockholders of an Institution at Basin, Montana, Overdraw BUTTE, Mont., Nov. 28.-The Hewitt State bank at Basin, Mont., was closed by the state examiner today. A statement said the stockholders have overdrawn and the bank has failed to pay as an investment. M. L. Hewitt, mining promoter, is president, and former Governor A. E. Spriggs is vice president. The capital is $30,000 and the deposits $35,000. The banking firm of Friday & Jennisons, at Harlowton, was closed today and as a result several Harlowton business firms have passed into receivers' hands. The extent of the liabilities and assets is not known. pending a statement to follow an examination.

3. November 30, 1910 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, November 30, 1910

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Article Text

Bank Fails in Maine; Competition Strong Bank Enjoined from Doing Business by Supreme Court on Petition of Examiner. BATH, Me., Nov. 29.-Inability to compete profitably with other financial institutions is the principal reason advanced by State Bank Examiner Skelton for the closing today of the People's Safe Deposit and Savings bank, after a career of forty-two years. The bank, on petition of Mr. Skelton, was enjoined by the supreme court from paying money and from receiving deposits. The bank had liabilities of $870,418, including deposits of $842,786 when the last official statement was made in April last. The estimated market value of the resources was $871,910. Since July 1, when the annual dividend rate was reduced from 4 to 3½ per cent, the institution has lost about $38,000 withdrawn in the form of deposits or interest. Bank Examiner Skelton says the intergrity of President Seth T. Snipe, Treasurer Oscar C. Rogers and the other officers is in no way questioned. He expressed the opinion that the depositors would be paid in full eventually. BUTTE, Mont., Nov. 29. - The Hewitt State Bank at Basin, Mont. was closed by the state examiner today. A statement said the stockholders have overdrawn and the bank has failed to pay as an investment. M. L. Hewitt, mining promoter, is president, and former governor A. E. Spriggs vice president. The capital is $30,000 and the deposits $35,000. The banking firm of Friday & Jenniseens at Harlowton was closed today and as a result several Harlowton business firms have passed into receivers' hands. The extent of the liabilities and assets are not yet known, pending a statement to follow examination.

4. December 2, 1910 Montpelier Examiner Montpelier, ID
Article from Montpelier Examiner, December 2, 1910

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Article Text

Two Montana Banks Closed. Butte, Mont.-The Hewitt State bank at Basin, Mont., was closed by the state examiner on Monday. A statement said the stockholders have overdrawn and the bank has failed to pay as an investment. M. L. Hewitt, mining promoter, is president, and former Governor A. E. Spriggs is vicepresident. The capital is $30,000 and the deposits $35,000. The banking firm of Friday & Jenkisens, at Harlowton, was also closed, and as a result, several Harlowton business firms have passed into receivers' hands.

5. December 2, 1910 The Washburn Leader Washburn, ND
Article from The Washburn Leader, December 2, 1910

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Article Text

president of the American Telephone and Telegraph company, which controls the Western Union, was appointed to fill the vacancy. The Hewitt State bank at Basin, Mont., has been closed by the state examiner, acting upon orders from the attorney general. The banking firm of Friday & Janniseens at Harlowton also was closed and as a result several Harlowton business firms have passed into receivers' hands. The interstate commerce commission has announced that the net revenues of the steam roads of the United States during last August aggregated $90,028,751, or $377.49 per mile of line, against $90,998,283, or $380.10 per mile of line in August, 1909. The census office has announced the present population of Oklahoma as 1,657,155. This is an increase since the last census taken in 1907 of 242,987, or 17.2 per cent. The population of the state of New York is 9,113,279, an increase of 1,844,385, or 25.4 per cent over 1900. The population of the state of Illinois is 5,638,591, an increase of 817,041, or 16.9 per cent, over 1900. The population of the state. of Ohio is 4,767,121. an increase of 609,567, or 14.7 per cent over 1900.

6. December 3, 1910 The Goldfield News Goldfield, NV
Article from The Goldfield News, December 3, 1910

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Article Text

TWO MONTANA BANKS ¡FORCED TO CLOSE BUTTE, Mont., Nov. 30. - The Hewitt State Bank at Basin, Mont., was closed by the state bank examiner today. A statement said the stockholders have overdrawn and the bank has failed to pay as an investment. M. L. Hewitt, mining promoter, is president, and former Governor A. E. Spriggs is vice president. The capital is $30,000 and the deposits $35,000. The banking firm of Friday and Jennisens at Harlowtown was closed today and as a result several Harlowton business firms have passed into receivers' hands. The extent of the liabilities and assets are not known, pending a statement to follow examination.

7. December 8, 1910 The Enterprise Malta, Harlem, MT
Article from The Enterprise, December 8, 1910

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Article Text

NEWS OF MONTANA Important Happenings of the Week Briefly Told. MONTANA BANKS FAIL. Basin and Harlowton Institutions Close Doors and Depositors Suffer. Butte.-The Hewitt State Bank at Basin, Mont., was closed by the state examiner today, acting upon orders from Attorney General A. J. Galen. A statement was made to the effect that the stockholders have overdrawn and the bank has failed to pay as a investment. M. L. Hewitt, mining promoter, is president, and former Governor A. E. Spriggs is vice-president. The capital stock is $30,000 and the deposits $35,000. The banking firm of Friday & Jenniseens, at Harlowton, was closed today, and as a result several Harlowton business firms have passed into receivers' hands. The extent of the liabilities of the bank and its assets are not yet known, pending a statement to follow examination.

8. December 8, 1910 The Bon Homme County Independent Tabor, SD
Article from The Bon Homme County Independent, December 8, 1910

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Article Text

BUTTE, MONT.-The Hewitt State bank at Basin, Mont., was closed bv, the state examiner yesterday. A statemen said the stockholders had overdrawn ant the bank has failed to pay as an invest ment. M. Hewitt, mining promoter, 11 president and former Governor A. E Spriggs is vice president. The capital i: $30,000 and the deposits $35,000. The bank Ing firm of Friday & Jennisen at Harlow town was closed yesterday and as a resul several Harlowtown business firms have passed into receivers' hands. The exten of the liabilities and a sets are not ye known, pending a statement to follow ex amination

9. December 9, 1910 The Searchlight Culbertson, MT
Article from The Searchlight, December 9, 1910

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Article Text

Basin and Harlowton Institutions Close Doors and Depositors Suffer. Butte.-The Hewitt State Bank at Basin, Mont., was closed by the state examiner today, acting upon orders from Attorney General A. J. Galen. A statement was made to the effect that the stockholders have overdrawn and the bank has failed to pay as a investment. M. L. Hewitt, mining promoter, is president, and former Governor A. E. Spriggs is vice-president. The capital stock is $30,000 and the deposits $35,000. The banking firm of Friday & Jenniseens, at Harlowton, was closed today, and as a result several Harlowton business firms have passed into receivers' hands. The extent of the liabilities of the bank and its assets are not yet known, pending a state ment to follow examination.

10. December 16, 1910 The Ekalaka Eagle Ekalaka, MT
Article from The Ekalaka Eagle, December 16, 1910

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Article Text

NEWS OF MONTANA Important Happenings of the Week Briefly Told. MONTANA BANKS FAIL. Basin and Harlowton Institutions Close Doors and Depositors Suffer. Butte.-The Hewitt State Bank at Basin, Mont., was closed by the state examiner today, acting upon orders from Attorney General A. J. Galen. A statement was made to the effect that the stockholders have overdrawn and the bank has failed to pay as a investment. M. L. Hewitt, mining promoter, is president, and former Governor A. E. Spriggs is vice-president. The capital stock is $30,000 and the deposits $35,000. The banking firm of Friday & Jenniseens, at Harlowton, was closed today, and as a result several Harlowton business firms have passed into receivers' hands. The extent of the liabilities of the bank and its assets are not yet known, pending a stato ment to follow examination.