11277. State Bank (Culbertson, MT)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 14, 1924
Location
Culbertson, Montana (48.144, -104.517)

Metadata

Model
gpt-5-mini
Short Digest
6d6b744a

Response Measures

Full suspension, Books examined

Description

Newspaper reports state the State Bank of Culbertson did not open on Jan 14, 1924 after heavy withdrawals during the fall and winter (a heavy run). A receiver (H. C. Skarle) was later appointed and the bank remained in receivership/liquidation. Cause of the withdrawals is not specified in the articles (no explicit rumor, correspondent failure, or insolvency allegation), so I mark cause as 'other' and describe as heavy withdrawals/run. OCR corrected none significant.

Events (3)
1. January 14, 1924 Run
Cause Details
Sustained heavy withdrawals / heavy run during fall and winter; article gives no specific trigger (rumor, correspondent failure, or bank-specific scandal).
Measures
Bank did not open; State Banking Department sent a representative to examine affairs and plans for reorganization or liquidation to be carried out; later receiver appointed.
Newspaper Excerpt
Owing to a constant withdrawal of funds during the fall and winter the State Bank of Culbertson did not open its doors on Monday, January 14th.
Source
newspapers
2. January 14, 1924 Suspension
Cause Details
Suspension/closure resulted from the sustained heavy withdrawals (run); article notes examination and plans for reorganization or liquidation.
Newspaper Excerpt
Owing to a constant withdrawal of funds ... the State Bank of Culbertson did not open its doors on Monday, January 14th.
Source
newspapers
3. May 1, 1924* Receivership
Newspaper Excerpt
H. C. Skarle, receiver of the State bank of Culbertson, was appointed joint receiver of both of the local financial institutions which have been closed for some time. The appointment was made by Judge C. E. Comer.
Source
newspapers

Newspaper Articles (9)
1. January 25, 1924 The Producers News Plentywood, MT
Article from The Producers News, January 25, 1924

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Article Text

CLOSES SECOND TIME WITHIN TWO YEARS Culbertson, Jan. -Owing to a NORTHRUP PLEADS constant withdrawal of funds during the fall and winter the State Bank of Culbertson did not open its doors GUILTY TO THEFT on Monday, January 14th. A representative of the State Banking Department is making a thorough exMedicine Lake Man Appears Before amination and plans for reorganizaJudge Comer and Receives Senttion or liquidation will be carried out ence of From 3 to 6 Years. as soon as the examination is completed. John Northrup, who was placed in This is the second time within the jail some time ago on the charge of past two year that the above bank being implicated in the stealing of has closed its doors. automobiles at Medicine Lake, plead On the day following the closing guilty before Judge Camer last Wedof the State Bank. the Citizens State nesday and was sentenced to three to Bank did not open for business and six years in the state penitentiary at as a result, Culbertson is left without Deer Lodge. banking facilities. Business proceeds Due to the efforts of Sheriff Salisas usual but business is very much bury the auto thieves of Sheridan inconvenienced by the sudden stopcounty are being apprehended one page of the general flow of currency. by one and it is reported that there Owing to a heavy run on the bank, will be more arrests follow, until the the Citizens State Bank of Culbertson gang of auto thieves which have been was forced to close its doors on Januoperating in this county for the past ary 16, 1924. year have been cleaned up. The representative of the State Banking Department will take charge and the affairs of the bank gone OVJ.J. CARROL HOME er thoroughly and such plans for reorganization or liquidation to the depositors will be arranged on the comBURNS FRIDAY pletion of his report. Culbertson has been hard hit by this sudden failure of the two banks Five Room House of C. C. Carrol, of the town and many people are Situated 11 Miles Southwest of wondering how they are going to Plentywood Completely Destroyed meet their obligations for the rest of By Fire-Loss Estimated at About the winter. Business has received a $2,000.00. hard blow as a great amount of the cash money of the town was carried Last Friday morning, while Mr. in the banks and is new tied up or Carrols was doing chores in the barn, sunk in those institutions. None of his house, located on the farm, 11 the depositors are able to see the miles southwest of Plentywood caught great Republican cry of four years fire from what is supposed to have ago, "Back to Normalcy." been an over-heated stove and burned

2. May 7, 1924 The Bozeman Courier Bozeman, MT
Article from The Bozeman Courier, May 7, 1924

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Article Text

Receiver for Two Banks H. C. Skarle, receiver of the State bank of Culbertson, was appointed joint receiver of both of the local financial institutions which have been closed for some time. The appointment was made by Judge C. E. Comer.

3. May 8, 1924 The Kevin Review Kevin, MT
Article from The Kevin Review, May 8, 1924

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Article Text

Receiver for Two Banks H. C. Skarle, receiver of the State bank of Culbertson, was appointed joint receiver of both of the local financial institutions which have been closed for some time. The appointment was made by Judge C. E. Comer.

4. May 8, 1924 Belt Valley Times Belt, Armington, MT
Article from Belt Valley Times, May 8, 1924

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Article Text

# Receiver for Two Banks H. C. Skarle, receiver of the State bank of Culbertson, was appointed joint receiver of both of the local financial institutions which have been closed for some time: The appointment was made by Judge C. E. Comer.

5. May 9, 1924 The Producers News Plentywood, MT
Article from The Producers News, May 9, 1924

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Article Text

COMER APPOINTS JOINT RECEIVER FOR CULBERTSON BANK For Purposes of Economy in Liquidating Defunct Institutions Skarie Will Attend to Both, Last week, Judge Comer, at Poplar, changed his policy of appointing the cashiers of defunct state banks back as receivers of the banks which they have busted, thus insuring them a fat job at the expense of the defrauded depositors for a couple of years, and appointed a joint receiver for both of the defunct Culbertson banks thus following in the foosteps of other judges in the state who are more interested in protecting depositors than they are in finding jobs for old political henchmen. In reporting the appointment of the receiver at Culbertson, the Searchlight has the following to say: "H. C. Skarie, receiver of the State Bank of Culbertson, was appointed joint receiver of both of the local financial institutions which have been closed for some time. The appointment was made by Judge C. E. Comer who held Law and Motion Day at Poplar Wednesday."

6. May 16, 1924 The Circle Banner Circle, MT
Article from The Circle Banner, May 16, 1924

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Article Text

Receiver for Two Banks H. C. Skarle, receiver of the State bank of Culbertson, was appointed joint receiver of both of the local financial institutions which have been closed for some time. The appointment was made by Judge C. E. Comer,

7. April 24, 1925 The Producers News Plentywood, MT
Article from The Producers News, April 24, 1925

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Article Text

FILE REPORTS FOR INSPECTION Depositors in the State Bank of Culbertson received a dividend payment of twenty per cent and depositors in the Citizens State Bank received a payment of ten per cent on March 14. Receivers certificates were also mailed out on the same date for all claims that had been approved by the court. Mr. Skarie, the receiver, states that these certificates should be carefully preserved for they must be presented when other dividend payments are made. A detailed report of both receiverships will be filed with the clerk of court this week, showing all collections, payments, expenses, etc., which is for the inspection of anyone interested.

8. September 11, 1925 The Producers News Plentywood, MT
Article from The Producers News, September 11, 1925

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Article Text

Victor E. Johnson, Plaintiff, versus Mary Decouteau, Pierre Decouteau, her husband, H. C. Skarie, as Receiver of State Bank of Culbertson, a corporation, Anthon Eckern, and Mrs. Anton Eckern, his wife, Defendants. # THE STATE OF MONTANA SENDS GREETINGS TO THE ABOVE NAMED DEFENDANTS, AND TO EACH OF THEM: YOU ARE HEREBY SUMMONED to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon one of you in each county wherein any of you reside, and to file your answer and serve a copy thereof upon the plaintiff's attorneys within twenty days after the service of this summons, exclusive of the day of service, and in case of your failure to appear or answer, judgment will be taken against you, by default, for the relief demanded in the complaint. This action is brought to obtain a judgment against the defendants, Mary Decouteau and Pierre Decouteau, her husband, for the sum of One thousand one hundred six and no-100 ($1106.00) dollars, with interest on the sum of fifty and no-100 ($50.00) dollars thereof from and after the 8th day of April, A. D. 1916, at the rate of eight per cent per annum, and interest on the sum of sixty-four and no-100 ($64.00) dollars thereof from and after the 8th day of April, A. D. 1917, at the rate of eight per cent per annum, and interest on the sum of sixty-four and no-100 ($64.00) dollars thereof from and after the 8th day of April A. D. 1918, at the rate of eight per cent per annum, and interest on the sum of sixty-four and no-100 ($64.00) dollars thereof from and after the 8th day of April, A. D. 1919, at the rate of eight per cent per annum; and interest on the sum of eight hundred sixty-four and no-100 ($864.00) dollars, the balance thereof, from and after the 8th day of April, A. D. 1920, at the rate of eight per cent per annum, and for the sum of $100 attorney's fees for the prosecution of this action, and for the sum of $3.25 as cost of a continuation of an abstract of title to the premises hereinafter described, and for plaintiff's costs and disbursements in this action; having all of the aforesaid indebtedness adjudge a valid lien upon the southwest quarter (SW¼) of section twenty-seven (27) in township thirty-one (31) north of range fifty-five (55) east of the Montana Meridian, containing one hundred sixty (160) acres, more or less, according to the United States Government Survey thereof, together with the improvements situated thereon. Plaintiff seeks a foreclosure of that certain real estate mortgage made, executed, and delivered by Mary Decouteau and Pierre Decouteau, her husband, to Eugene Caves, on the 8th day of April, A. D. 1915, and duly filed for record in the office of the County Clerk and Recorder of Sheridan County, Montana, on the 10th day of April A. D. 1915, at 4:00 P. M. of the said day, in Book 83

9. November 27, 1925 The Producers News Plentywood, MT
Article from The Producers News, November 27, 1925

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Article Text

VICTOR E JOHNSON, Plaintiff, versus MARY DECOUTEAU, PIERRE DECOUTEAU, her husband, H. C. SKARIE, as Receiver of State Bank of Culbertson, a corporation, ANTHON ECKERN, and MRS. ANTHON ECKERN, his wife, Defendants. To be sold at Sheriff's Sale, to the highest bidder for cash, on the 5th day of December, A D. 1925, at the hour of two o'clock in the afternoon of the said day, at the front door of the Court House in the Town of Plentywood, Sheridan County, Montana, the following described real property, situated in the County of Sheridan, State of Montana. to-wit: é The Southwest quarter (SW1/4) of Section Twenty-seven (27) in Township Thirty-one (31) North of Range Fifty-five (55) East of the Montana meridian, containing one Hundred Sixty (160) acres, more or less, according to the United States Government Survey, thereof; toegther with all and singular the tenements, hereditaments and appurtenances thereunto blonging, or in any wise appertaining. Dated this 10th day of November, A. D. 1925. RODNEY SALISBURY, Sheriff of Sheridan County, Mont. NYQUIST & NYQUIST, Attorneys for Plaintiff, Scobey, Montana. 32-t4