Banking Corporation - Helena, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 14, 1925
Location: Helena, Montana (46.593, -112.036)

Metadata

Model: gpt-5-mini
Short Digest: 9400f844

Response Measures

None

Description

Newspapers report The Banking Corporation of Montana had closed and was insolvent; a receiver was appointed and later (Jan 1927) a dividend distribution was authorized. No article describes a depositor run. Classified as a suspension leading to permanent closure/receivership.

Events (2)

1. November 14, 1925 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was insolvent and had closed (acting as correspondent; closed while funds were in Federal Reserve custody).
Newspaper Excerpt: The claim grew out of the insolvency of the Banking Corporation, which had been acting as correspondent for the Stanton Bank. ... At the time The Banking Corporation closed the Federal Reserve Bank held the above sum which it had collected on paper originating in the Stanton Bank.
Source: newspapers

2. January 28, 1927 Receivership

Newspaper Excerpt: Distribution of a dividend of 5 per cent. approximating a total of $35,000, to creditors of the Banking Corporation has been authorized by Judge W. H. Poorman in the district court, on petition of the receiver, Claude C. Gray.
Source: newspapers

Newspaper Articles (5)

1. November 14, 1925 The Daily Inter Lake Kalispell, MT

Article from The Daily Inter Lake, November 14, 1925

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Article Text

SPECIAL DEPOSIT NOT A BANK ASSET (By Associated Press) Helena, Nov. 14.-Holding that the relation of debtor and creditor did not exist as applying to a claim of the Stanton Trust & Savings Bank of Great Falls, against The Banking Corporation of Montana, the supreme court has reversed the district court of Lewis and Clark county and has directed that court to make an order upon the receiver of The Banking Corporation to pay to the Stanton Bank the sum of $8,574.88 now held by him as special deposit. The claim grew out of the insolvency of the Banking Corporation, which had been acting as correspondent for the Stanton Bank. The latter had been sending paper to The Banking Corporation for collection, and the latter turned the paper over to the Federal Reserve Bank for the same purpose. At the time The Banking Corporation closed the Federal Reserve Bank held the above sum which it had collected on paper originating in the Stanton Bank. The receiver of The Banking Corporation sued for recovery of this money, claiming it to be the property of The Banking Corporation, and at the request of the Federal Reserve Bank the Stanton Bank was substituted as defendant. The district court held this money to be a part of the general assets of The Banking Corporation, but the supreme court, on appeal, holds that as the money had never reached The Banking Corporation the relations of principal and agent still existed between it and the Stanton Bank and that The Banking Corporation had never gained title to the money.

2. November 27, 1925 The Bozeman Courier Bozeman, MT

Article from The Bozeman Courier, November 27, 1925

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# STATE CAPITOL The Stanton Trust and Savings Bank of Great Falls is entitled to receive $8,574.88 now held as a special deposit by the receiver of The Banking Corporation of Montana under an opinion handed down in the supreme court which directs the district court of Lewis and Clark county to make an order directing the receiver to pay this sum over to the Stanton bank or its representatives. This claim grew out of the closing of The Banking Corporation, a Helena concern, and resulted in the filing of an action in the district court of Lewis and Clark county by the receiver of The Banking Corporation against the Federal Reserve bank of Minnesota, to recover the above sum which he claimed was the property of the insolvent bank and was being wrongfully withheld from him. Bad weather during the latter half of September, when several heavy snows and rain storms were experienced causing the roads in many parts of the state to be virtually impassable, prevented threshing and marketing of Montana wheat to the extent that shipments for the month fell off 2,767 carloads from those of the corresponding MARRY IF LONELY: Join "The Successful Correspondence Club." Reliable; descriptions free. Box 556. Oakland, Calif.

3. April 9, 1926 The Producers News Plentywood, MT

Article from The Producers News, April 9, 1926

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IN THE GHT LIMI F P.J. Wallace and and to and pert of paragraphs Things by Great pertinent Pertaining Events small Concern. RECEIVERS are a type very of BANK crows who have become carrion in Montana during the past They the common years. predesessors, usually disapate four their the of the assets They make the of banks. bankers, what ever left last 10 of job up" a bank fat years of "winding which they live on the unduring and the money of the the depositors. Very many their of not satisfied fortunate land are with forms them but indulge in various of salaries graft such as selling property a of banks cheap and taking closed commission from the buyer. A3 there of choking a cat without of butter there are of looting the many use ways ways the assets also the of bank without a know. Some public many closed receivers letting that they ply their trade so successfully, few show evidences of wealth in a after receiving their apI have in one who was a months ceiver pointment. struggling mind hard- Rewhen he was of a closed bank a charge ware clerk thru but the in put coun- few in he swanked a brand new months try in Hudson of super-six this colthe readers will learn the story Some umn day riches of and how then he acquired his sudden something will happen to a lot of pillars of respectability in a short time. DESPITE the fact that most bank are of the same receivers their species of the burglar family as prebehind the many are paying of decessors closed banks wickets dividends to thirty per cent of year. ferent from ten parts Montana this Corpora- in difThe of the Banking tion of story Montana, pubished in in this point. issue of the News is a case This may be due to the honesty of the Receiver but I think the deposare now a comthey itors in appointed Helena depositors' mighty glad mittee when this institution first closed its doors. Frank Edwards was chairman of the first Depositand most will concede positors ors Committee that, due of the to the deafter was start, way he much looked skulduggery things at elim- the inated and the receiver was helped in his effort to be honest. The depositors in the closed banks in Sheridan county seem to be the most unfortunate individuals in the state. In most instances the Receivers in this county haven't given them a pleasant look much less a dividend. not for a Maybe Depositors' it would Committee be out of to place look into various some banks of here. the affairs In the of short the time Mr. Fred Ibsen has been Receiver he has collected a lot of money. He got over $5,000 in one haul a would for oblige a bank building. curious public Mr. Ibsen by telling money and them what where he he intends keeps to this do with it. If Mr. Ibsen finds it difficult to follow the example of other Receivers in Montana who are deand to some claring the depositors dividends of giving the money back stolen from them, perhaps a Depositors committee would help him. A little dividend now would help many hard up people, who could use the money as well as Mr. Ibsen. We do to cast on of we not the wish integrity Mr. any Ibsen reflections but too much in the venture believes the that opinion that money the public hands of receivers is or "divid of their own ing desirable up" and that money not a little necessary amongst the depositors of closed banks is now in order. * BABBITS IN STRAW HATS is a headline of an editorial in the Cut Bank Pioneer Press which reads as follows: "Great Falls is maintaining is reputation as the silliest town in Montana. It has a half dozen

4. April 9, 1926 The Producers News Plentywood, MT

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IN THE by Pertaining and and Great Concern are of BANK have become very carrion during the past in common usually disapate They years. the their predesessors, the assets the left of bankers, make the job of They banks. bank last 10 years during "winding they live on the fat of the of the unand money Very many of depositors. satisfied with their but indulge various forms selling property of such cheap and taking banks buyer. there from cat without butter there are also of looting the assets ways without letting the bank Some receivers ply know. that they trade evidences of wealth in few their apafter have in mind one Repointment. struggling hardclerk when he put in closed but few he swanked thru the counbrand new day the readers of this collearn the story of how he acquired his riches and then something happen to lot of respectability in short DESPITE the fact that most bank receivers are the same species burglar family as their predecessors the many ten thirty per cent in dif parts this year. story of the Banking Corporapubished in this isthe News case in point. may due to the honesty of Receiver but think the deposHelona are mighty glad appointed depositors' comthis institution first doors. Frank Edwards chairman of the first Depositand the that, due to looked after things the was elimand the receiver was helped effort be honest. The the closed banks in Sheriseom be the most unindividuals the state. instances the Receivers haven't them look much less would not be of out place Depositors' to look the affairs of the short Fred Ibsen has been Rehas collected lot of He got $5,000 over one bank building. Mr. Ibsen oblige curious public thom where he keeps this and what he intends do Mr. Ibsen finds it diffifollow the example of other Receivers Montana who are dedividends and giving some of the money back from them, perhaps Depositcommittee dividend would help him. A would hard people, who could help use many the as Mr. Ibsen. We to cast integrity Mr Ibsen reflections but venture the opinion that the public believes that too money in the necessary desirable and that little "dividof their of closed banks amongst is now BABBITS IN STRAW HATS headline editorial the Cut Pioneer Press which reads follows: as "Great Falls is maintaining reputation the town Montana. half dozen songand they are continvieing with each other in new of which was parade just when trying forget the weather absurd war between Helena The governor of Montana the dignity of the office Great Falls strutted in this foolish festival.' that Cooney and the picture of the Governor front pages of their without dailies straw hat alongside some girls who are supposed to in the parade. The picture had the expresold cow. that the big state dailies of stop the and giving the populace the that for Rotary, Lions Clubs and agreCounty Fair and "get him IN MISSOULA, the home Dixon, the students got entitled the under "Fronthe official imprimituar University Montana. Unheading called "Tone" the of life as is not expressions usually find their way they are words of current such works as Websters writings Decameron of Rabelias. Inprudes in the state legs and hurled the heads of the Unithe young people who old Many of the moss backs who kick in the Colused the same exused verbally in every(Continued on page

5. January 28, 1927 Plentywood Herald Plentywood, MT

Article from Plentywood Herald, January 28, 1927

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STATE BRIEFS Missoula-A bill to enlarge the Missoula national forest in Montana has been introduced by Representative Evans in congress. Malta-The bid of the Phillips County Publishing company for the county printing was accepted by the commissioners January 6. Denton-The Farmers-Co-operative Elevator company has announced that it will receive bids for the gravel for construction of its new $100,000 warehouse. Havre-E. B. Duncan county agent for Hill county. has received an increase in saiary of $000 for the coming year, making the total $3,300 per year. White Sulphur Springs-George Fowlie, Jr., has been appointed undersheriff, succeeding Ted Winters, who has been in Sheriff McReynolds office for two years. Big Sandy-The proceeds of the dance that was given at the Ferndale school at Kenilworth north of Big Sandy is to be used in the buy ing of playground equipment. Sidney-At a cost of $35,000 the Methodist church here has just completed a new church building built in memory of John E. Lonsdale. one time merchant of Sioux City, Ia. Wolf Point-George Burshia, who on December 8 pleaded guilty to grand larceny, was sentenced by Judge S. E. Paul to serve from one to two years in the state penitentiary. Helena-George P. Porter. state auditor. has announced the resignation of his chief deputy, W. A. Logan. He said Mr. Logan expected to leave in the near future but his successor had not been selected. Glasgow-An overheated stove in the Nevlow shop is believed to have been the cause of a fire which completely destroyed that building and the front portion of the Glasgow bakery, which adjoins it on the east. Chinook-The Chinook station, during 1926. handled 3,505 carloads of produce raised or produced in Blaine county, according to William Brusewitz, station agent. Incoming shipments totalled 999 carloads. Lewistown-Russell Laverdure and Don Cowger. the youths who took the car of C. A. McDowell from a garage and ran it out to Hanover, where they abandoned it in a damaged condition, were sentenced to 60 days in jail. Helena-Taylor & Son. dealers in farm implements at Geraldine. have filed articles of incorporation with the secretary of state. Their capital stock is $30,000. Incorporators are: Albert, Walter J, and Murriel Taylor. Sidney-The Russell Milling company has appointed S. A. Anderson manager of the Sidney 1,000 barrel mill which serves the territory of eastern Montana, western North Dakota and South Dakota along the Milwaukee system. Missoula-Arsenic poison, which he contracted six months ago while making fly fish hooks. caused the death here recently of John Graham, aged 81 years, for 30 years a bridge carpenter for the Northern Pacific at Livingston. Helena-Distribution of a dividend of 5 per cent. approximating a total of $35,000, to creditors of the Banking Corporation has been authorized by Judge W. H. Poorman in the district court, on petition of the receiver, Claude C. Gray. Cut Bank-John Chouquette, charged with stabbing Frank Edwards on the night of November 27, was found guilty of manslaughter by a jury which returned a verdict in district court here. He was sentenced to five years in prison. Terry-According to figures given out by W. J. Burton. clerk and recorder for Prairie county. there were 12 births in Terry in December. The number of births for the year is above 69. This greatly outnumbers the deaths that have occurred. Great Falls-The assessed valuation of Cascade county in 1927 will be $1,000,000greater than in 1926, according to County Assessor Harold M. Mady, who said that preparations were under way for the commencement of the spring assessment work. Great Falls-The cash balance of the city of Great Falls on January 1, 1927, was $549,033.76 as compared with $412,575.97 on December 1, 1926, or an increase of $136,457.79 during the month, according to the monthly report of W. P. Wren. Scobey-The Daniels county board of commissioners has decided to let the voters determine whether a county agent shall be employed in the future. At the same election, some time in March, the voters will pass on a proposal for a county high school. Great Falls-Albert Christ, 33, was sentenced to serve not less than 20 or more than 40 years in the state penitentiary at Deer Lodge. by Judge H. H. Ewing in district court here, following his conviction on a charge of obstructing railroad property. Choteau-The village of Farmington is rapidly gaining notice as one of the most progressive communities in this section of the country. The latest addition to the vilings for the first time, when about 120 in which to stage dances and other forms of recreation. Glendive-Construction has been begun on a telephone line between Glendive and Culbertson by the Mountain States Telephone & Telegraph company, and the first carload of material for the line arrived here recently. The cost of the line will be about $139,000. Billings-Billings is one of the cities very much in the running for first place in the United States among those of the fourth class for minimum fire loss during 1926, according to V. H. Steele, who has completed his report for the National Fire Waste council. Great Falls-Resurfacing of the Great Falls-Belt highway for a distance of 12 miles from near the Great Falls city limits will begin next spring as a result of an agreement reached between the Cascade county commissioners and the state