11354. Hardin State Bank (Hardin, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
*
Location
Hardin, Montana (45.732, -107.612)

Metadata

Model
gpt-5-mini
Short Digest
a2a3ecec

Response Measures

None

Description

Newspapers describe the Hardin State Bank as having failed/closed (referred to as failure of the Hardin State Bank and listed as closed in the 1926 state examiner report). There is no mention of a depositor run in the provided articles; the closing is attributed to postwar inflation/deflation and weak local agricultural economy, so I classify the cause as a local economic shock. No reopening or receivership is described in these items.

Events (1)

1. * Suspension
Cause
Local Shock
Cause Details
Failure/closing attributed to post-World War I inflation followed by heavy deflation and the weak, agriculture-dependent local economy in the Northwest (per editorial commentary). State examiner report (1926) lists Hardin State Bank as closed.
Newspaper Excerpt
it was recovering nicely from the effects of the failure of the Hardin State Bank
Source
newspapers

Newspaper Articles (2)

Article from Hardin Herald, December 4, 1925

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Article Text

NOT AN EARTHQUAKE A few months ago we were called upon to contribute to a neighboring county, suffering from an earthquake. This community has experienced two bank failures in the past three years. It was recovering nicely from the effects of the failure of the Hardin State Bank and is now met with the loss occasioned by the closing of the First National Bank of Hardin. These failures are directly the result of the inflation period during the World war and the heavy deflation period following the war, and resemble a condition quite generally prevalent in the Northwest in particular, on account of its lack of industrial enterprises and its dependence for its prosperity on agricultural conditions. The closing of the First National Bank of Hardin has come as sudden as an earthquake and has cast a gloomy atmosphere about our community that will retard to some extent our progress and development, but unlike an earthquake it leaves the community intact and its people unimpared in body and mind. Someone has wisely said, "Give me my health and mental faculties and I will overcome financial adversities, but take away from me my health and mental faculties and endow me with abundant wealth and I an poor Big Horn county embraces a vast, fertile area of agricultural land as yet practically undeveloped, still under these conditions many people on farms have 66 year realized an income from the farm equal to the value of it. Beets have produced a very fair return and beans at present prices are a profitable crop; grain prices are quite satisfactory and the live stock valuations are certainly encouraging. Having the facilities at hand to rehabilitate the losses incurred, it would scem that it behooves the people of the community to band themselves together in an endeavor to re-establish ourselves on a sound financial basis. Our schools should assist the rising generation by instructing their pupils how to analize financial statements and to judge the actual market value of the assets listed therein-anything that concerns the public should be subject to analysis. The Big Horn County Bank has the utmost faith in this community and pledges its undivided co-operation (in so far as conservative banking principles will permit) in the task before us. 49-1 BIG HORN COUNTY BANK, By W. E. Warren, Pres.


Article from Hardin Herald, August 20, 1926

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Article Text

STATE EXAMINER'S ANNUAL REPORT MONTANA OFFICE OF STATE EXAMINER We of herewith submit report of the examination Helena, of the books July 15, 1926. aminer, ords BIG on July HORN 6th COUNTY, to 13th, 1926, as made as follows: by F. E. Williams, Deputy State and rec- ExCOUNTY TREASURER To balance in funds August 15, 1925 MR. R. P. ROSS $182,632.66 To Receipts from August 15, 1925, to July 8, 1926, 486,904.11 619,586.77 410,566.20 $208,970.57 Security $1,200.00 None Some None None None None None None None None 115.00 115.00 EXAMINER'S NOTES COUNTY TREASURER Transfers, distribution of protested taxes and-distribution of month's tax collections business. should be made on the cash book below the close personal of the An over-deposit of $2,170.63 existed in the First National Bank of money Hardin at the time of closing. The County Treasurer should deposit the tal and under his control in solvent banks of the county on basis of CapiSurplus, as provided by law. He should under no circumstances deposit in excess of the security pledged by the bank. legal From the records of the Clerk of the Dictrict Court we find that the proceedings concerning the personal bond furnished by the First National Bank of Hardin, have been very promptly and ably handled. Judgcess ment of was the entered amount of of record the judgment. some months The ago and properly attached in expromptly to levy against such property If settlement County of the Treasurer judgment should is not proceed made CLERK AND RECORDER The claims were examined and the warrants checked against the recfollows: ord of "Warrants and Bond Issued," and reconciled to July 1, 1926, as The official bonds of the various Increase county officials $ were $1,653.87 examined and found The to be approved by the District Judge and properly filed. minute book was examined and found to be written up to date and properly signed. CLERK OF DISTRICT COURT Book. Greater care should be exercised in entering fees in Registers and Fee was In ordered the case of State of Montana VS, Craig, & bond in the sum of $1,000 deposited with forfeited the County by the Treasurer. Court All fines and forfeitures should - be SHERIFF Great care should be exercised in writing up the records of the office. PUBLIC ADMINISTRATOR The county is without a Public Administrator at the present time. The CORONER Board of Commissioners should appoint some one to fill this office CLAIMS We are pleased to find that the Coroner has his record written up. Claim No. 22915, Bessette Stork Co., $27.50, is signed "Chas. Bessette." of Claims some of official corporations or the should corporation. bear the full corporate name followed by that Claim No. 22921, C. W. Wilson, $66.45, is not sufficiently itemized. The points of travel are not shown, 545 miles having been traveled. The hotel expense of $9.35 is not segregated. Claim No. 22928, Robert A. Vickers, $41.00, in signed, but not sworn to, Claim No. 24070, $88.75, contains an Item of $20.00 for hay and grain fed to horses used for assessment purposes. The proper charge would be for charge to be made for the use of the horses rather than the feed. Claim 24019, Tractor & Equipment Co., $4,700.00 shows an allowance of $800.00 for a used 75 Holt Tractor No. 2528. The disposition of county property is thoroughly covered in the statutes, which provide that property belonging to the county can only be disposed of by sale at public auction for cash. A sale should have been held of the old tractor, no which sale the company selling the new tractor could have been a bidder. and The claims of M. H. Techirgi, No. 24182, Henry G. Campbell, No. 24182, J. W. Scally, No. 24184, have not been signed by the claimants The claims of the Commissioners show that in some instances work have made inspections of roads and bridges where construction or repair they was not in progress. The Attorney General has ruled that members of the Board of Commissioners can legally make claim for per diem and expensé where they make inspections of roads and bridges when work to to progress on some and before payment is made. Respectfully submitted. JAY G. LARSON, State Examiner Deputy State Examiner. To Balance in Funds July 8, 1926 ACCOUNTED FOR AS FOLLOWS: Balance Hardin State Bank, Hardin (closed) $74,372.05 First National Bank, Hardin (suspended) 62,170.63 American Surety Co., continuous Approved by Board of Commission $ 10,000.00 Personal Bond, expires December 31, 1925 50,000.00 Demand has been made and Judgment has been entered against bondsmen. $ 60,000.00 Little Horn State Bank, Wyola Fidelity & Deposit Co., expiring November 1, 1926 Approved by Board of Commissioners 7,500.00 School County District and County Warrants of Big Horn 151.31 $49.70 9.12 40.58 1917 to 1926 Property Disposition None None None None None None None None None 1 qt. whiskey Mr. Echstrom None None None None Do Fund General Road Poor Bridge Contingent Library Seed Grain Bonds outstanding Lass Sinking Fund County debt INDEBTEDNESS JULY 1, 1925 Fund General Road Poor Bridge Contingent Library Seed Grain Bonds outstanding Less Sinking Fund County Debt COMPARATIVE COUNTY INDEBTEDNESS $454,231.32 $525,875.19