11332. Fidelity State Bank (Aurora, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 9, 1932
Location
Aurora, Nebraska (40.867, -98.004)

Metadata

Model
gpt-5-mini
Short Digest
b51acbb4e14dac68

Response Measures

None

Description

Articles from Sept–Oct 1932 report the Fidelity State Bank of Aurora as a failed/closed institution and the appointment of E. H. Luikart as receiver. No article describes a depositor run prior to suspension; depositors later contested the receiver appointment in court. A 1934 article shows the receiver borrowing RFC funds for the closed bank, confirming it remained closed.

Events (3)
1. September 9, 1932 Suspension
Cause
Government Action
Cause Details
State banking department (E. H. Luikart) moved to take control after the Fidelity State Bank was reported failed; depositors petitioned to name a local receiver instead.
Newspaper Excerpt
DEPOSITORS WANT TO NAME OWN BANK RECEIVER Aurora, Neb., Sept. 9, (AP)A group of depositors in the failed Fidelity State bank here yesterday filed an action in district court asking appointment of a local receiver instead of E. H. Luikart...
Source
newspapers
2. September 24, 1932 Receivership
Newspaper Excerpt
SUIT TO BLOCK LUIKART FAILS ... District Judge Landis signed an order making Luikart receiver. ... affidavits ... permitting them to withdraw their names as objectors and with no protests before court, signed an order making Luikart receiver.
Source
newspapers
3. May 24, 1934 Other
Newspaper Excerpt
Aurora. Fidelity State Bank, $49,675. ... FAILED BANKS GET R. F. C. CASH LOAN ... Receivers of closed Nebraska banks were authorized to borrow ... includes Aurora, Fidelity State Bank, $49,675. (shows receiver borrowing RFC funds for the closed bank).
Source
newspapers

Newspaper Articles (6)
1. September 9, 1932 North Platte Daily Telegraph North Platte, NE
Article from North Platte Daily Telegraph, September 9, 1932

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Article Text

EARLY GAINS CANCELLED BY PROFIT TAKING New York, Sept. 9, (AP)Stocks ran into profit taking this afternoon and earlier gains of 1 to 3 points in most active shares were either sharply mod- ified or lost. Some leaders finished lower. U. S. Steel and American Tele. phone gave up 2 point advances. American Can backed up substantially after 3 point rise. National biscuit, Westinghouse and several coppers were heavy, losing 1 to 2 points. Rails; which had moved forward briskly, yielded much of their gains. Transactions approximated 3,900,000 shares. DEPOSITORS WANT TO NAME OWN BANK RECEIVER Aurora, Neb., Sept. 9, (AP)A group of depositors in the fiailed Fidelity State bank here yes. terday filed an action in district court asking appointment of a local receiver instead of E. H. Luikart, secretary of the state trade and commerce department. faculty members. "Here are the results on the movement to date. (And they have been accompanied by no financial gains, for football alone pays its own way.) "The number of competing athletes in intercollegiate sports has been multiplied by four. The department of physical education reports gains in the same proportion. Formerly it was hard to get students interested in gym, but now not only has the interest increased four-fold among the freshmen, but upperclassmen are trying to get into plebe classes. "The superlative athletes, thru the broadened intercollegiate program, are competing against the best of other schools, while the others are competing against students of like skill in whatever sport they choose. Children /are picking up weight under menu sponsored by Toledo welfare dietitians.

2. September 9, 1932 North Platte Daily Telegraph North Platte, NE
Article from North Platte Daily Telegraph, September 9, 1932

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Article Text

EARLY GAINS CANCELLED BY PROFIT TAKING New York, Sept. 9, (AP)Stocks ran into profit taking this afternoon and earlier gains of 1 to 3 points in most active shares were either sharply modified or lost. Some leaders finished lower. U. S. Steel and American Tele. phone gave up 2 point advanc. es. American Can backed up substantially after a 3 point rise. National biscuit, Westinghouse and several coppers were heavy, losing to 2 points. Rails; which had moved forward briskly, yielded much of their gains. Transactions approximated 3,900,000 shares. DEPOSITORS WANT TO NAME OWN BANK RECEIVER Aurora, Neb., Sept. 9, (AP)A group of depositors in the fiailed Fidelity State bank here yesterday filed an action in district court asking appointment of a local receiver instead of E. H. Luikart, secretary of the state trade and commerce department. faculty members. 'Here are the results on the movement to date. (And they have been accompanied by no financial gains, for football alone pays its own way.) "The number of competing athletes in intercollegiate sports has been multiplied by four. The department of physical education reports gains in the same proportion. Formerly it was hard to get students interested in gym, but now not only has the interest increased four-fold among the freshmen, but upperclassmen are trying to get into plebe classes. "The superlative athletes. thru the broadened intercollegiate program, are competing against the best of other schools, while the others are competing against students of like skill in whatever sport they choose. Children are picking up weight under a menu sponsored by Toledo welfare dietitians.

3. September 25, 1932 Omaha Sunday Bee-News Omaha, NE
Article from Omaha Sunday Bee-News, September 25, 1932

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Article Text

SUIT BLOCK LUIKART FAILS tempt block appointment of E. H. Luikart, secretary of the state department of trade and commerce, as receiver for the Fidelity State bank failed Friday when state banking department attorneys came into court with affidavits of persons in whose name the protest against Luikart had been made saying the filing was without their permission District Judge Landis signed an order permitting them to withdraw their names as objectors and with no protests before court. signed an order making Luikart receiver. LINCOLN, Sept. 24. (P)-Franz Radke. attorney for the state banking department. Saturday resisted an effort to take depositions from department officials as to the expense of administering affairs of the Fidelity State bank of Aurora on the ground the case in which the depositions had been asked was closed. R. S. Mockett. notary before whom the depositions to be taken, took Radke's application for continuance under advisement. Charles F. Adams. Aurora attorney. who sought the depositions and who had filed the action in Hamilton county protesting Luikart's appointment as bank receiver. protested that the action of the Hamilton county district court Friday was done in secrecy and therefore void.

4. October 2, 1932 Omaha Sunday Bee-News Omaha, NE
Article from Omaha Sunday Bee-News, October 2, 1932

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Article Text

MOTION HEARD ON BANK RECEIVER AT AURORA SEWARD, Oct. 1. (IP)-District Judge Landis Saturday heard arguments here on motion asking that the order appointing E. H. Luikart as receiver for the failed Fidelity State bank of Aurora, be vacated. The judge took the matter under advisement.

5. July 20, 1933 Norfolk Daily News Norfolk, NE
Article from Norfolk Daily News, July 20, 1933

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Article Text

SECURE SUPREME COURT RULES DAY IN FAVOR OF CITIES OF SECOND CLASS BROWN COUNTY WINS SUIT Commissioners' Action In Refusing Claims Endorsed but Assigned for Lacking Sufficient Chided Interest Lincoln, July right of second class cities their deposits in state banks the banks pledge their bond assets upheld today by the Nebraska supreme court. Luikart receiver for the Fidelity State bank of Aurora from decision the appealed Hamilton county district court dethe receiver's right to $17.nying the bank's assets which been deposited in the Omabranch the federal reserve bank secure city of Aurora posits. Had Benefit of Deposit this case," the court said. bank has benefit and the receiver not deposit entitled to void the contract the bank while solwhich the assets the vent pledged to secure the bank deposits no statute prohibiting either directly by implication pledge of assets." The opinion pointed out that the state, county and first class cities under specific of the statute could obtain pledge security. Luikart had that without express authority second class could not do but court called attention law authorizing collection funds under held the city had contractthe bank and the state partment trade and raised objection to such assets. Many Interested Half dozen cities filed briefs the court friends of the court thousands dollars would cities depositors depending on the outof the Aurora case used test the The court today also approved the action of Brown county commissioners refusing to allow $22,016 assigned claims of HarWoods, Brown county trea although the county failed file brief the When took office found his predecessor had paid county salaries out of balances sinking funds and taken assignments which the funds would repaid. He continued pracuntil examiners for the state auditor objected in June 1931. Was Without Authority then filed the assigned claims the county board rejected them and went to the courts. Both supreme treasurer withauthority handle the funds that manner, salaries when the county general unable to furnish the funds. The court's opinion commented failure of Brown county, fendant the case, think that involving important question expendipublic funds," the opinion said, deserving attenthe part of the county of

6. May 25, 1934 Star-Herald Scottsbluff, NE
Article from Star-Herald, May 25, 1934

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Article Text

FAILED BANKS GET R. F. C. CASH LOAN Washington, May 24. (P)-Receivers of closed Nebraska banks were' authorized to borrow $2,022,653.43 from the Reconstruction Finance corporation between February 2, 1932, and May 18, 1934, Jesse H. Jones, chairman, reported today. The largest individual loan authorized in Nebraska was $175,000 to the Farmers State Bank of Columbus. The Farmers State Bank of Kearney borrowed $141,750. and the Norfolk National bank received $130,000. Besides the loans to closed bank receivers, the RFC also authorized a loan of $50,000 to the Fremont Mortgage company. The table of loans to closed bank receivers includes Auburn. First National Bank of Auburn. $26,000 First National Bank of Auburn. $23,000. Aurora. Fidelity State Bank, $49,675. Columbus, The Commercial National Bank Columbus, $60,000; Farmers State $175,000. Fremont, The Union National Bank of Fremont, $85,000. Holdrege Phelps County Bank, $50,000. Hooper, Hooper State Bank, $40,000. Litchfield, The First National Bank of Madison. The First National Bank of Madison, $83,000. McCook Farmers & Merchants State Bank, $26,000. Norfolk, The Norfolk National Bank, $130,000 Platte Center, Platte County Bank, St. Edward The Smith National Bank of St. Sterling, First State Bank. $31,000. West Point. The Point National Bank, $50,000; West Point National Bank,