11370. Banking Corporation (Helena, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 2, 1923
Location
Helena, Montana (46.593, -112.036)

Metadata

Model
gpt-5-mini
Short Digest
2597f4c8

Response Measures

None

Description

Articles (May 1923) report the Banking Corporation of Montana in Helena had been closed for several days and that state authorities and the attorney-general sought a receiver; a receiver (Claude C. Gray) was later appointed. No article describes a depositor run; sequence is suspension followed by receivership/closure.

Events (2)

1. May 2, 1923 Suspension
Cause Details
Article states the bank was closed but gives no specific cause for the suspension; superintendent of banks alleged not to have complied with statutory procedures in declaring insolvency; closure described as the bank 'has been closed'.
Newspaper Excerpt
the Banking Corporation of Montana has been closed for six days.
Source
newspapers
2. May 24, 1923 Receivership
Newspaper Excerpt
Helena- Claude C. Gray has been appointed receiver of the Banking Corporation of Montana.
Source
newspapers

Newspaper Articles (4)

Article from The Producers News, May 18, 1923

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Article Text

# POORMAN DECLINES # TO NAME RECEIVER # FOR DEFUNCT BANK SKELTON FAILED TO COMPLY WITH STATE LAWS, HOLDS COURT IN REFUSING PLEA. Helena, May 8.—Because of the al- leged failure L. Q. Skelton, superin- tendent of banks, to comply with the laws of Montana and furnish the governor and attorney-general with a statement of the insolvency of the Banking Corporation, Judge W. H. Poorman of the district court of this county was compelled Tuesday to deny the application of the attorney- general for a receiver because the complaint filed by the attorney- general last week is to indefinite in its statement to comply with certain sections of the code. The attorney- general had intended to supplement his original complaint with the state- ment of insolvency when that was furnished by Skelton but requests of the tatorney-general to the superin- tendent of banks, it is alleged, has failed to gain the desired results al- though the Banking Corporation of Montana has been closed for six days. The attorney-general stands ready to file the supplemental or amended complaint in the district court the moment he receives the information needed from Skelton. In denying the application for a re- ceiver, Judge W. H. Poorman stated that amended complaint could be filed at any time and it is understood he is ready then to announce his appoint- ment.


Article from The Kevin Review, May 24, 1923

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Article Text

THE STATE Malta-Seeding of spring grain is about completed in Phillips county. Helena-Claude C. Gray has been appointed receiver of the Banking Corporation of Montana. Missoula-Drilling in the Bitter Root oil well near Corvallis is to be resumed at once. Great Falls Grasshoppers are making their first appearance of the season in Cascade county. Roundup-Wages of retail clerks have been fixed at $135 minimum, the new arrangement averting a strike. Butte-The first touring party to be registered for the season at the Yellowstone Trail bureau in Butte was bound for Shelby. Great Falls-Dig up your dandelions or dig up a fine in police court, is the order of Superintendent Chas. Landgren of the Great Falls boulevards. Butte-Stephen DesJardin, 48, one of the three most seriously injured in an automobile collision on the highway south of Butte recently, is dead of his injuries. Washington A second federal judge for the district of Montana will not be appointed until congress convenes, according to a high administration spokesman. Bonlder-Uncovering a one-foot streak of ore which assays 281 ounces of silver and some gold is reported by A. H. C. Rex, the well known mining man who is operating the old Bismarck mining property six miles from Boulder. Great Falls-Members of Elks lodges in all parts of the country will attend the twentieth annual state convention of the Benevolent and Protective Order of Elks in Montana, which will be held here July 1, 2 and 3. Helena-Bids will be received by the Montana highway commission June 5, for the construction of 41 miles of federal highway across the Blackfeet Indian reservation on the route from Great Falls to Glacier park. Great Falls-Attention of oil men swung abruptly to the Big Sandy district with the coming in of a gas flow of 5,000,000 feet in the Ohio test well on the Sherrard No. 1 structure, 35 miles southeast of Big Sandy. Butte-Failing to open a heavy safe in its narrow quarters, burglars who entered the Haines Tire Sales company office carted it away to a lonely spot in Missoula gulch, below Platinum street, and "cracked" it with a sledgehammer. Billings-Rollo Duncan, former sheriff of Lewis and Clark county, and now a resident of Billings, has been selected by President Harding after a conference with Congressman Leavitt, for the United States marshalship. Billings-Beet acreage contracted to date aggregates more than 23,500 acres as compared with 12,262 acres last season, according to W. P. Hogarty, superintendent of the Great Western Sugar company's plant here. There were 762 growers last year, while this year there will be 1,067 farmers growing beets. Great Falls-Search for Louise Baker, alias Ruth Walker, alias Mamie Reed, said to be one of the most clever forgers who ever operated in this city, has been begun by Great Falls police. The woman, it is charged, has during the last two elsa defrauded local merchants out


Article from The Circle Banner, May 25, 1923

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Article Text

THE STATE Malta-Seeding of spring grain is about completed in Phillips county Helena-Claude C. Gray has been appointed receiver of the Banking Corporation of Montana. Missoula-Drilling in the Bitter Root oil well near Corvallis is to be resumed at once. Great Falls Grasshoppers are making their first appearance of the season in Cascade county. Roundup-Wages of retail clerks have been fixed at $135 minimum, the new arrangement averting a strike. Butte-The first touring party to be registered for the season at the Yellowstone Trail bureau in Butte was bound for Shelby. Great Falls-Dig up your dandelions or dig up a fine in police court, is the order of Superintendent Chas. Landgren of the Great Falls boulevards. Butte-Stephen DesJardin, 48, one of the three most seriously injured in an automobile collision on the highway south of Butte recently, is dead of his injuries. Washington A second federal judge for the district of Montana will not be appointed until congress convenes, according to a high administration spokesman. Boulder-Uncovering a one-foot streak of ore which assays 281 ounces of silver and some gold is reported by A. H. C. Rex, the well known mining man who is operating the old Bismarck mining property six miles from Boulder. Great Falls-Members of Elks lodges in all parts of the country will attend the twentieth annual state convention of the Benevolent and Protective Order of Elks in Montana, which will be held here July 1, 2 and 3. Helena-Bids will be received by the Montana highway commission June 5, for the construction of 41 miles of federal highway across the Blackfeet Indian reservation on the route from Great Falls to Glacier park. Great Falls-Attention of oil men swung abruptly to the Big Sandy district with the coming in of a gas flow of 5,000,000 feet in the Ohio 1 test well on the Sherrard No. structure, 35 miles southeast of Big Sandy. Butte-Failing to open a heavy safe in its narrow quarters, burglars who entered the Haines Tire Sales company office carted it away to a lonely spot in Missoula gulch, below Platinum street, and "cracked" it a with a sledgehammer. i Billings-Rollo Duncan, former t sheriff of Lewis and Clark county, S and now a resident of Billings, has 1 been selected by President Harding t after a conference with Congressman § Leavitt, for the United States mar0 shalship. Billings-Beet acreage contracted S to date aggregates more than 23,500 1 acres as compared with 12,262 acres o last season, according to W. P. Hot garty, superintendent of the Great e Western Sugar company's plant here. There were 762 growers last year, y while this year there will be 1,067 farmers growing beets. t Great Falls-Search for Louise o Baker, alias Ruth Walker, alias A Mamie Reed, said to be one of the A most clever forgers who ever operil ated in this city, has been begun by g Great Falls police. The woman, it S charged, has during the last two weeks defrauded local merchants out H of hundreds of dollars. d Missoula-On Mother's day one F Missoula mother experienced the g most bitter and ironical tragedy that p an come into the life of a mother a when little Jimmie Albert Mabary, tl he 4-year-old son of Mr. and Mrs. was burned to death a


Article from The Montana Record-Herald, July 25, 1928

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Article Text

Supreme Court Digest the Court. Grace Mitchell et Banking Corporation Appeal from Lewis and Clark county. Action by the plaintiffs as creditors the defendant bank to enforce the double liability of its stockholders thereto to have the reduction of its capital stock from half to $250,000 brought about meeting of the stockholders February 28, 1922, declared as The bank suspended on 1923. The defendant stockholders to the complaint on the ground that did state cause action for failure to allege that the action had been instituted three years after their liability stockholders was created and demurrers were sustained Judgment affirmed. Opinion by Mr. Justice Stark The section admittedly controlling to when action this must be section 9061. Revised Codes, which after particularly providing that other of the Codes relating to limitations actions shall not apply in cases affecting actions against directors stockholders of corporation enforce liability created by law, declares that such latter actions "must be brought within three years after the discovery by the ME party of the facts upon which the liability was The plaintiffs contended that the period began run May 1923, when the bank closed Its doors, while the defendants maintained that the stockholders liability was created at the time the plaintiffs the money lost by in the failure in the bank, which 1914. the bank then having issued to them certificates of deposit which renewed from time to time, that the three years began to run that time, and that therefore the action barred. The action on February 27, that statute grants right which did not exist common prescribes the time within which the right be exercised the of the right and to such right must by his complaint that within the statutory time and he does his pleading does not state action. Held. that the liability of the stockholders created the time the primary liability the bank came into being. to-wit at time the plaintiffs their deposits recelved their original certificates deposit, which, having once attached. was affected by subsequent renewals: that complaint did not set forth that the action commenced within three years after the liability therefore did not state of action and the defendants' demurrers propsustained. All the justices concur specially, stating that they do so against their Inclinations but that under the language section 9061 and authoritles generally, no other conclusion than that reached admissible. "Nevertheless is within our province to point which think should receive the curative touch of the lawbody. In view of the restricoperation the is suggested that should be amended at least to the extent of It harmonious those other of our law which provide that an action may be within certain time 'after the cause of action shall E. Pew. of Helena. for Appellants E. Day. Horsky Walsh Nalsh, Miller. Paul and David R. Smith, of Helena, for ReEL Armold et al. v. Custer County Appeal from order of triet court Custer county refusing to grant an injunction and temporary restraining order, Orders affirmed. Opinion by Mr. Custer having obtained certificates of tax of more than 1,000 tracts or lote of land. delinquent tax sales on which to thing decided to take steps to obtain deeds thereto. In order to enable the county clerk to obtain necessary information relative to each tract lot essential making out proper notices to each owner, gagee or assignee of mortgage. the county commissioners into contract with the Custer Abstract company to furnish such Information. agreeing to pay $5 report each tract or bot, having been made apparent the board that the clerk could not obtain certain information from in his office, which inforwas in possession of the company which readily be furnished from "tract Index" kept by the company. which relating property obtained not only from the clerk's records but from those kept by the of court from other The plaintiff taxpayers contended that all the information necessary could by the Herk from his own records, that the expanse was that the board was without power make such contract, that If the clerk could not obtain all the information needed make out notices which would hold water, he should do the best could with what he had until legislature could enset proper legislation on the The principal question for dewas whether the board had Implied power to Into the contract, the statutes not granting that power expressly Held, that boards of county comsarily implied from that which is granted expressly Held. that the general rule to that the board of county may contract to have work done which is necessary to the care ment of the business and affaire of the county the preservation of county property, the does the duty county official to do such Held, that chapter 92. Laws of 1927, relating the giving of notice by county application of for tax simply what he must In the not he must get the information to enable him to what he is obey required to do; that being apparent that his are insufficient to furnish the required by given In notices, the board could adopt any reasonable method to bring about the desired result, and that the method adopted being the only reliable, peditious and to pursue, its action must be upheld on the theory that It had the implied power to do what did. George Farr, R. B. Hayes and W. H. O'Connell of Miles City, for appellants Loud & Leavitt, Rudolph Nelstead and H. E. Herrick of Miles Olty for re-