11262. Farmers National Bank (Chinook, MT)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
10053
Charter Number
10053
Start Date
January 1, 1933*
Location
Chinook, Montana (48.590, -109.231)

Metadata

Model
gpt-5-mini
Short Digest
ba6057c7

Response Measures

None

Description

The bank was closed under the bank conservation act in 1933 (government action) and later reopened after a conservatorship/reorganization (subscriptions of stock, exams by national bank examiner and RFC). No article explicitly describes a depositor run preceding the suspension; classification is suspension_reopening.

Events (5)

1. July 14, 1911 Chartered
Source
historical_nic
2. January 1, 1933* Reopening
Newspaper Excerpt
closed under the bank conservation act in 1933, and subsequently reopened, announced a dividend of 15 percent had been paid Feb. 15.
Source
newspapers
3. January 1, 1933* Suspension
Cause
Government Action
Cause Details
Closed under the bank conservation act in 1933; placed in conservatorship/closure by authorities.
Newspaper Excerpt
Trustees for the creditors of the old Farmers' National bank, closed under the bank conservation act in 1933, ...
Source
newspapers
4. July 27, 1933 Other
Newspaper Excerpt
Assets To Report on Plans of Conservator for Bank Reopening Here ... Examinations of the bank were made last week by the National Bank examiner of this district and the examiner for the Reconstruction Finance Corporation ... plan would put the bank in proposed liquid position ... subscription of sufficient shares stock in the Farmers National Bank made at least the required minimum of 250 shares of common stock ... the conservator Brooks will be notified as to the procedure to be followed completing the work.
Source
newspapers
5. December 18, 1933 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from The Chinook Opinion, July 27, 1933

Click image to open full size in new tab

Article Text

STOCK REPORT MADE Assets To Report on Plans of Conservator for Bank Reopening Here Subscription of sufficient shares stock in the Farmers National Bank make at least the required minimum of 250 shares of common stock last week Thursday. Additional will be received insure against the failure some one to complete their pledge The total number pledged so far 257. Examinations of the bank were made last week by the National Bank examiner of this district and the aminer for the Reconstruction Fin Corporation. The national exam iner's deputies arrived last Thursday. H. Gentry Chapin Dillings and completed their work Saturday afternoon. Kelly of Helena, representing the tion Finance Corporation arrived day and completed his examination Monday Their reports will give complete analysis of of the bank, the segregation and all of the details to show complete picture of the situation to the two headquarters in Washington. As soon the reports forwardto the necessary authorities, hoped that final decision will be rived to the details of the plan which will be finally put into effect. soon the two offices agree in on the reoponthe conservator Brooks will be notified as to the procedure to be followed completing the work. The examinations showed that the plan would put the bank in proposed liquid position with the assets very converted largely into cash and curities at the actual market price. The depositors' trust would receive even larger amount of curities than first proposed and the chances accordingly inrecovery creased. How soon the next word will ceived can be estimated here. The the depositors and creditors records been offsets listed have in readisend out the necessary notices ness word received from soon


Article from Montana Oil and Mining Journal, February 19, 1938

Click image to open full size in new tab

Article Text

Treasure State News in Brief KALISPELL-Samuel Hibbler. 73, janitor at the Coram school, who was injured in a fall several days ago, died at a local hospital. FORT BENTON-Anna Ayers, daughter of John Ayers of near Geraldine, brought in a half grown grasshopper a few days ago which she had found in her father's field. LIVINGSTON-Proceeds of a $123,758 bond issue, sold to the Montana board of land commissioners by the trustees of school district No. 1, will be used for construction of a new high school building here. KALISPELL-Going-to-the-Sun highway through Glacier national park will be opened to travel June 10 this year, five days earlier than usual. Supt. E. T. Scoyen announced. Scoyen said heavy early season travel through the park was expected. MOORE-The Moore Junior Woman's club was addressed by Mrs. J. H. Morrow, Montana director of the General Federation of women's clubs. She spoke on the recent executive board council meeting in Washington, D. C. ANACONDA-James Pringle, 73, prominent Anaconda resident and a former justice of the peace here for 29 years, died at the home of a brother in Saskatchewan, Canada, friends here learned. He left here for Saskatchewan Dec. 13 after 45 years' residence. HELENA-Failing to win judgment in the Powder River county district court, Ed and Jennie Irion appealed to the state supreme court their suit against James and Georgie Hyde to obtain prior water rights on Sneep creek. GREAT FALLS-The search for Robert Seidl, 16. son of Mr. and Mrs. Anton Seidl, who reside west of Great Falls, has been extended to all parts of the United States, A. L. Anderson, captain of police, said. The boy has been missing since Aug. 15. CHINOOK-Trustees for the creditors of the old Farmers' National bank, closed under the bank conservation act in 1933, and subsequently reopened, announced a dividend of 15 percent had been paid Feb. 15. The February dividend increased to 75 percent creditors will have received from claims. PHILIPSBURG-Two silver producing mines of the Philipsburg district have suspended operations within the last few days. The mines closed were the Algonquin, operated by American Machine and Metals, Inc., and the Scratchall, of the Silver Prince Mining Co. KALISPELL-Fire which originated around the heating plant caused heavy damage to St. Matthew's Catholic church here. The fire burned through the church floor and destroyed the altar. The interior of the church was badly damaged by smoke. Church leaders said the loss was covered by insurance. PHILIPSBURG-The mail must go through -and to get it through, rural carriers in the Rock creek area went back to the faithful old packhorse when deep snows made use of automobiles impossible. Exceptionally heavy snowfall blockaded all but the most traveled roads. MISSOULA-Clyde R. Headley of Missoula was elected president of the Western Montana Fish, and Game association, succeeding the late Thomas N. Marlowe. Headley was succeeded as vice president by M. A. Malone and Al Fiefflin was re-elected secretarytreasurer. ANACONDA-The Montana Council of Carpenters voted to hold its 1939 convention in Butte. Delegates from 23 state unions concluded a three-day convention here a few days ago after re-electing George Templeman of Anaconda president. A. E. Mercer of Anaconda, was re-elected secretary-treasurer. Vice president named are T. P. Taylor of Bozeman (re-elected), J. E. Mainard of Butte, Roy E. Thompson of Billings (re-elected), George W. Yaeger of Great Falls, Cornelius Hansen of Glendive (re-elected).