Yegen Bros. bank - Butte, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 1, 1924*
Location: Butte, Montana (46.004, -112.535)

Metadata

Model: gpt-5-mini
Short Digest: 5228ab98

Response Measures

None

Description

Articles report Yegen Bros. Bank suspended in February 1924 and placed in receivership; by 1929 the receiver is winding up affairs and paying final dividends, indicating permanent closure. The sources do not state the cause of the original suspension, so cause is listed as 'other'.

Events (3)

1. February 1, 1924* Suspension

Cause Details: Article only notes the bank suspended in February 1924; no cause given.
Newspaper Excerpt: Dividends totaling 20 per cent have been paid depositors since the bank suspended in February, 1924.
Source: newspapers

2. April 12, 1929 Other

Newspaper Excerpt: Looking toward the closing of the receivership of the Yegen Bros. bank by about the middle of May, Harry L. Hanson, receiver, filed in district court yesterday a petition for instructions... Dividends totaling 20 per cent have been paid depositors since the bank suspended in February, 1924.
Source: newspapers

3. May 1, 1929 Receivership

Newspaper Excerpt: Payment of the final dividends to holders receivers' certificates of the Yegen Bros.' bank was being made today at the office of Harry Hanson, receiver... All dividends are expected to be paid by June after which the receiver will be discharged through court order, Judge W. E. Carroll said today.
Source: newspapers

Newspaper Articles (4)

1. April 12, 1929 The Independent-Record Helena, MT

Article from The Independent-Record, April 12, 1929

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Article Text

Butte, April toward the closing of the receivership the Yegen Bros. bank about the of May, Harry L. Hanson, ceiver, filed in district court yesterday petition for instructions from the court on procedure affecting claims now outstanding. Judge William Carroll, in whose department the receivership suit has been handled, shortly afterward sued order instructing that claims sufficient amount warrant the expense be prosecuted in the courts, and that others of apparent little merit, for small amounts be sold the highest bidders. The petition lists the claims dividually, and the court order specific instructions regarding each. The merely formality but indicated that the the affairs of the bank are approachcondition which will the discharge of the receiver. Judge Carroll and Mr. Hanson agreed that the receivership may end about May Dividends totaling 20 per cent have been depositors since the bank paid suspended in February, 1924. Filing the petition led expectation another dividend will be within the next few days.

2. April 12, 1929 The Independent-Record Helena, MT

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Article Text

Butte, April toward the closing of the receivership the Yegen Bros. bank about the die of May, Harry Hanson, ceiver, filed in district court yesterday petition for instructions from the court on procedure affecting claims outstanding. Judge William Carroll, in whose department the receivership suit handled, shortly sued an order instructing that claims sufficient amount warrant the expense prosecuted in the courts, that others apparent little merit, for small amounts be sold the highest bidders. The petition lists the claims individually. and the court order gave specific regarding each. move was merely formality the receivership, but indicated that the affairs of the bank are approachcondition which will warrant discharge the receiver. Judge Carroll and Mr. Hanson agreed that the receivership may end about May Dividends totaling per cent have been paid depositors since the bank suspended February, 1924. Filing the petition led expectation that another dividend will be paid within the next few days.

3. April 12, 1929 Livingston Enterprise Livingston, MT

Article from Livingston Enterprise, April 12, 1929

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Article Text

Windup of Affairs of Yegen Brothers Bank; Probably Soon BUTTE, April 11. (Special.) Looking toward the closing of the receivership of the Yegen Bros. bank by about the middle of May, Harry L. Hanson, receiver, filed in district court yesterday a petition for instructions from the court on procedure affecting claims now outstanding. Judge William E. Carroll, in whose department the receivership suit has been handled, shortly afterward issued an order instructing that claims of sufficient amount to warrant the expense be prosecuted in the courts, and that others of apparent little merit, or for small amounts be sold to the highest bidders. The petition lists the claims individually, and the court order gave specific instructions regarding each. The move was merely formality of the receivership, but indicated that the affairs of the bank are approaching a condition which will warrant the discharge of the receiver. Judge Carroll and Mr. Hanson agreed that the receivership may end about May 15. Dividends totaling 20 per cent have been paid depositors since the bank suspended in February, 1924. Filing of the petition led to expectation that another dividend will be paid within the next few days. TRY AN ENTERPRISE CLASS AD

4. May 1, 1929 The Butte Daily Post Butte, MT

Article from The Butte Daily Post, May 1, 1929

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Article Text

FINAL DIVIDENDS BEING PAID TODAY BANK RECEIVER Disbursements to Be Made by June 1, After Which Court Order Will Wind Up Insolvency Case. Payment of the final dividends to holders receivers' certificates of the Yegen Bros.' bank was being made today at the office of Harry Hanson, receiver, in the All dividends are expected to be paid by June after which the receiver will be discharged through court order, Judge W. E. Carroll said today The dividend of per was ordered by Judge Carroll two weeks ago. Creditors of the bank have not made claims will not share in the dividend. Several letters have been received by Judge Carroll from persons in Butte and other states who have claims against the bank but have not presented them. Only creditors holding the certificates will be given any of the dividend money. Those holding the certificates have presented their claims and had them authorized by the receiver, Harry L. Hanson. Any creditors who have lost their certificates will receive their money as copies of each certificate are held by the receiver.