11403. Joliet State Bank (Joliet, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 1, 1931
Location
Joliet, Montana (45.485, -108.970)

Metadata

Model
gpt-5-mini
Short Digest
b39b6627

Response Measures

None

Description

Articles state the Joliet State Bank 'suspended business operations December 1' (1931) and later 'closed its doors on account of frozen assets last fall' with liquidators mentioned. There is no explicit description of a depositor run — only that checks on the bank delayed tax book closings. Therefore this is classified as a suspension leading to closure/liquidation (suspension_closure).

Events (3)
1. December 1, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank 'suspended business operations' and later described as having 'frozen assets' and requiring liquidators; indicates insolvency/asset problems.
Newspaper Excerpt
Checks on the Joliet State bank, which suspended business operations December 1,
Source
newspapers
2. March 10, 1932 Other
Newspaper Excerpt
the Joliet State bank ... is issuing waivers on certain mortgages and obligations by permission of the thirteenth district court.
Source
newspapers
3. March 10, 1932 Receivership
Newspaper Excerpt
the Joliet State bank, which closed its doors on account of frozen assets last fall, ... liquidators have taken others.
Source
newspapers

Newspaper Articles (4)
1. December 10, 1931 The Picket-Journal Red Lodge, MT
Article from The Picket-Journal, December 10, 1931

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Article Text

TAXES ARE DELINQUENT IF NOT SETTLED TODAY TREASURER McDONALD CLOSES BOOKS ON FIRST PAYMENT. TAX SALE TO BE HELD IN JULY. County tax books will be closed this afternoon for the payment of the first half of 1931 real estate taxes or for the payment of personal property taxes in whole, according to County Treasurer George J. McDonald. Total payments received to date will fall somewhat short of the 1931 figure, but not so much as had been anticipated. Checks on the Joliet State bank, which suspended business operations December 1, in the total of about $6,000, were a contributing factor to the postponement of the closing of the books. Some of these checks have been taken up already but part of the amount will in all probability be included in the delinquent listing to be made up later in the month. Penalty and interest will attach after today to all taxes due November 30 which have not been paid. The penalty is 5 per cent and the interest rate 8 per cent per annum. Under a July ruling of Attorney General L. A. Foot there will be no January tax sale of real estate on which the first half of 1931 taxes remains unpaid. Mr. Foot holds that the county can not sell its tax claim against such property until it is all due and the law does not consider the second installment of taxes due until May 31. As a consequence Treasurer McDonald expects a larger proportion of May payments in full than in past years. Failure of the property owner then to settle his tax bill will subject his property to the July sale for taxes, plus the penalties and interest. Carbon county delinquent taxes are remarkably light, Mr. McDonald says, in view of the depression, the drought and the various other influences which have characterized the year. Unofficial reports from other counties indicate that in most instances the situation is much more grave elsewhere than it is here.

2. December 17, 1931 News-Herald Fromberg, MT
Article from News-Herald, December 17, 1931

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Article Text

NO TAX SALE UNTIL NEXT JULY (From The Picket-Journal) County tax books were closed Thursday afternoon for the payment of the first half of 1931 real estate taxes or for the payment of personal property taxes in whole, according to County Treasurer George J. McDonald Total payments received to date will fall somewhat short of the 1931 figure, but not so much as had been anticipated. Checks on the Joliet State Bank, which suspended business operations December 1, in the total of about $6,000, were a contributing factor to the postponement of the closing of the books. Some of these checks have been taken up already but part of the amount will in all probability be included in the delinquent listing to be made up later in the month. Penalty and interest will attach after today, to all taxes due November 30 which have not been paid. The penalty is 5 per cent and the interest rate 8 per cent per annum. Under a July ruling of Attorney General L. A. Foote there will be no January tax sale of real estate on which the first half of 1931 taxes remain unpaid. Mr. Foote holds (continued on page four)

3. January 7, 1932 The Picket-Journal Red Lodge, MT
Article from The Picket-Journal, January 7, 1932

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Article Text

Boyd Farmer Suicides As Finances Dwindle (Continued From Page 1.) dead in few minutes. He insisted on settling up with his landlord and forcibly refused to take any emetic or permit anything to be done toward saving him from his own rash Convulsions followed in few minutes and he died in about 20 minutes, retaining consciousness almost the last. Besides Mr. Dullenty in the house the time were Burris and Kebschull. Coroner R. Martin was notified at Red Lodge and conducted an investigation. He found that Yarling had been told he must pay note at the Joliet State bank, which suspended business last month, and that he considered his financial situation desperate. Before his death he gave instructions to notify friends and relatives at Broadview and expressed regret for the shock his act would be to his wife, Freda Yarling. An adopted son, Paul Yarling, is the only other member of the immediate family. He survived also by his mother and by four sisters and brother. He was 42 of years age. Funeral services were conducted Tuesday morning at the Smith chapel in Billings, interment being made the Mountview cemetery.

4. March 10, 1932 Red Lodge Daily News Combined With Carbon County News Red Lodge, MT
Article from Red Lodge Daily News Combined With Carbon County News, March 10, 1932

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Article Text

JOLIET BANK WILL WAIVE MORTGAGES TO HELP FARMERS Court Discharges DeCare on Livestock Count; Judge Grants Divorce To assist farmers in the vicinity in obtaining funds for operation this summer, the Joliet State bank, which closed its doors on account of frozen assets last fall, is issuing waivers on certain mortgages and obligations by permission of the thirteenth district court. In a petition filed in the court this week, it was stated that prior to closing the bank had taken mortgages, many of them chattels, on crops to be raised in 1932; since closing, liquidators have taken others. Many of the farm owners in the region upon whose property the mortgages were taken, it was said, will require assistance from the federal government and other agencies this summer. Government loans demand waiv ers on the part of prior lien holders, and the Joliet bank, desiring to withhold claims to enable farmers to procure operating expenses, asked permission of the court to execute waivers for "deserving creditors" in order to "protect assets already pledged to this bank." The executing of the waivers was approved by the court, it being understood that only such as were plausible should be granted. The court, conducted by Judge R. C. Stong of Billings, also heard a case on county livestock, appealed from a decision given at Bridger last fall. Carl DeCare, herder for C. A. Lewis of Cowley, Wyo., was found not guilty of a charge of permitting the owner's rams to run at large in violation of the state codes. The court granted a divorce to Ellen Starcevic, charging Anton Starcevic with failure to provide, awarding her custody of two children and the right to assume the name of Stark for herself and children. The cases of C. F. Oliver against Louis Johnson, and Producers Ranch company against Paul Hightower were dismissed. The judge reviewed five probate cases, and disposed of two cases in regard to guardianship.