11267. Columbus State Bank (Columbus, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 28, 1932
Location
Columbus, Montana (45.637, -109.252)

Metadata

Model
gpt-5-mini
Short Digest
853001d4

Response Measures

None

Description

Articles describe the bank in liquidation with a receiver paying dividends (Dec 28, 1932) and a 1933 court decision regarding claims against the bank in liquidation. No mention of a depositor run or reopening. Suspension appears to have been by regulatory action (liquidation/receivership).

Events (2)
1. December 28, 1932 Receivership
Newspaper Excerpt
First dividend of 5 per cent...was paid Columbus State bank depositors Thursday by George W. Graff, receiver ... . The proposed preference claims involve about $10,000 and a reserve of that amount has to be kept intact to meet such claims if they are allowed. In a decision ... included in the liquidation of the Columbus State bank ... the court affirmed the decision of the district court of Stillwater county in favor of the bank superintendent. ... The claim was rejected as a preferred claim by the bank superintendent and included in the non-preferred claims. The money due Kem consisted of proceeds from the sale of sheep, and a note made by Warren Rathbun to the bank and bought by Kem. ... The court held that the money was not held in trust for Kem. (From articles dated 1932-12-28 and 1933-11-09.)
Source
newspapers
2. * Suspension
Cause
Government Action
Cause Details
Bank was placed in liquidation and included in the liquidation by the state superintendent of banks (regulatory action).
Newspaper Excerpt
when it closed
Source
newspapers

Newspaper Articles (2)
1. December 28, 1932 Laurel Outlook Laurel, MT
Article from Laurel Outlook, December 28, 1932

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Article Text

George Graff Hands Christmas Gift To Columbus Depositors First dividend of 5 per cent-approximately $10,000-was paid Columbus State bank depositors Thursday by George W. Graff, receiver and former Laurel citizen. The first dividend could have been somewhat larger, the receiver explained, running from 12 to 15 per cent, were it not for application for preference claims still to be considered. The proposed preference claims involve about $10,000 and a reserve of that amount has to be kept intact to meet such claims if they are allowed.

2. November 9, 1933 The Columbus News Columbus, MT
Article from The Columbus News, November 9, 1933

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Article Text

SUPREME COURT OF STATE FINDS FOR BANK RECEIVER In a decision handed down by the supreme court Wednesday in the case of O. T. Kem, plaintiff, against Frank H. Johnson, superintendent of banks, included in the liquidation of the Columbus State bank, the court affirmed the decision of the district court of Stillwater county in favor of the bank superintendent. Kem sought to establish a preferred claim against the bank for $1,283.03 which he had on deposit when it closed The claim was rejected as a preferred claim by the bank superintendent and included in the non-preferred claims. The money due Kem consisted of proceeds from the sale of sheep, and a note made by Warren Rathbun to the bank and bought by Kem. The sheep were sold to meet the note and bid in by the bank for the latter. The court held that the money was not held in trust for Kem.