11455. Farmers State Bank (Medicine Lake, MT)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 28, 1924
Location: Medicine Lake, Montana (48.501, -104.505)

Metadata

Model: gpt-5-mini
Short Digest: ca58a379

Response Measures

None

Description

The articles consistently refer to the Farmers State Bank, Medicine Lake, as having receivers (S. O. Swenson, M. M. Olson, Mark Olson, Fred Ibsen) and being insolvent. There is no article text describing a depositor run; instead the bank was placed in receivership and foreclosure/legal actions followed through 1927. Classified as suspension leading to closure/receivership. Dates taken from publication dates showing receivers in place by 1924 and ongoing receivership filings through 1927.

Events (4)

1. March 28, 1924 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank declared closed/insolvent and a receiver (S. O. Swenson) was appointed; legal actions and sheriff's sales reference the receiver.
Newspaper Excerpt: S. O. SWENSON, as Receiver of the FARMERS STATE BANK, MEDICINE LAKE, MONTANA, a corporation, Defendants.
Source: newspapers

2. February 5, 1925 Receivership

Newspaper Excerpt: FARMERS STATE BANK, Medicine Lake, Montana, a corporation, and S. O. SWENSON and M. M. OLSON, Receivers of said Bank, Defendants. To be sold at Sheriff's Sale, on the 28th day of February, A. D. 1925 ... Dated at Plentywood, Montana, this 5th day of February, 1925. RODNEY SALISBURY, Sheriff ... GRANT BAKEWELL, Medicine Lake, Mont. Attorney for Plaintiff.
Source: newspapers

3. March 21, 1925 Other

Newspaper Excerpt: Judge Paul has set aside March 21st, 1925, for the purpose of publicly examining the receivers and their reports of the following closed banks in Sheridan County. The Farmers State Bank of Medicine Lake ... The judge advises that he finds that Comer never approved or disapproved reports filed by the receivers of closed banks in this county ... The judge desires to protect the public as much as possible and if the depositors do not appear and object to any of the reports or any items therein ... be heard.
Source: newspapers

4. February 4, 1927 Receivership

Newspaper Excerpt: Farmers State Bank of Medicine Lake. Montana, an insolvent banking corporation, formerly Farmers State Bank of Valley County, Medicine Lake, Montana, and Fred Ibsen receiver thereof; ... Action to foreclose mortgage ... (dated Feb. 4, 1927).
Source: newspapers

Newspaper Articles (10)

1. March 28, 1924 The Producers News Plentywood, MT

Article from The Producers News, March 28, 1924

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Article Text

RODERICK McGREGOR, Plaintiff, versus LILLIE J. WIGMORE and J. C. WIGMORE, her husband, G. E. FULKERSON and PEARL FULKERSON, his wife, and S. O. SWENSON, as Receiver of the FARMERS STATE BANK, MEDICINE LAKE, MONTANA, a corporation, Defendants. To be sold at Sheriff's Sale, on the 19th day of April; A. D. 1924, at the hour of two (2) o'clock P. M. of said day, at the front door of the County Court House, at Plentywood, in the County of Sheridan, State of Montana, to the ,highest bidder for cash, the following described Real Estate. situated, lying and being in the County of Sheridan, State of Montana, tc-wit: The Southwest quarter of Section Two (2), and the Northwest quarter of Section Eleven (11), all in Township Thirtytwo (32) North of Range Fiftysix (56) East of the Montana Meridian, Montana. And more particular all the right, title, claim. and interest of the above named defendants, in and to the Real Property hereinebefore described. Dated at Plentywood, Montana, this 28th day of March A. D. 1924. RODNEY SALISBURY, Sheriff of Sheridan County, Mont. By A. E. ALDRICH, Under-Sheriff. GRANT BAKEWELL, Medicine Lake, Montana, 51-t4 Attorney for the Plaintiff.

2. October 24, 1924 The Producers News Plentywood, MT

Article from The Producers News, October 24, 1924

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# OLSON REFUSES TO SIGN AN AFFIDAVIT By His Action Admits He is Bankers' Candidate and Not for Law Enforcement—W. C. T. U. Will Not Be Able to Support Olson After His Stand Taken Tuesday Night. Tuesday evening of this week a hibition and Law Enforcement ques- meeting was held under the auspices tion. of the W. C. T. U. at the Frank Mark Olson refused point blank to Murray school house in the McNulty sign the affidavit, and amid the jeers precinct. A large audience was and laughters and calls of "Come on, present and listened attentively. be a sport and sign the affidavit," by County Attorney Erickson and the large audience, Olson left the James Wagner spoke first on the Pro- hall. hibition question and law enforce- ment, and Marcus Olson made a few remarks in behalf of his own candi- dacy for Sheriff on the Republican ticket. Sheriff Salisbury, who was present for the first time, on account of being engaged in official duties the previous meetings, was called upon to address the crowd. Mr. Salisbury gave a short talk, telling the history of his life in a short sketch and among other things mentioned the fact that since he was ten years old, he has through force of circumstances, been compelled to make his own living and support his younger brothers and sisters: that he had been up against hard knocks and naturally had the working man's viewpoint of life. Marcus Olson in his statement of why he was running for Sheriff stat- ed that the pool halls were running blind pigs and selling liquor freely in Medicine Lake and for that reason he was running for Sheriff. Mr. Olson dwells on this statement quite em- phatically and at the meetings at Raymond and Redstone made the same statement. In answer to the statement made by Mr. Olson that he positively knew booze was being sold, Mr. Salisbury asked him if he would swear to the fact that booze was being sold. Ol- son stated that he would swear that booze was being sold at certain pool halls in Medicine Lake. MARK OLSON SHOWS COLORS Whereupon Sheriff Salisbury said: "I have here an affidavit; I am a Notary public. You sign this affida- vit swearing that you know booze is being sold in the pool halls at Medi- cine Lake and I will leave here to- night and arrest the men. OLSON REFUSES TO SIGN Put right here is where Olson showed where he stood on the Pro- # MEDICINE LAKE POOL HALL MAN HAS BEEN ARRESTED To show that Rodney Salisbury is enforcing the law at Medicine Lake to a high degree, Andy Holm, notori- ous bootlegger of that town, has been arrested on six charges since last August. Four of these cases were on charges of selling booze and are now pending in district court. Two charges are for gambling, to which Holm plead guilty and paid a fine of $100 at one time, and $200 the other. KNOCKS WAGNER'S ARGUMENT Mr. Wagner in his tour through the county, has been dwelling a good deal on the manner in which to get the booze vendors and in his addresses to the public has endeavored to show how it can be done with small ex- pense, by subpoenaeing a witness and forcing him to tell what he knows about the selling of booze, but when Marcus Olson, the man running for Sheriff on the old gang ticket along with Wagner, was asked to sign such and affidavit swearing that he knew certain parties were selling intoxicat- ing liquors at Medicine Lake, he re- fused to do so, after telling all over the county that he positively knew that such was the case. FOUR-FLUSHING EXPOSED The public now knows just what kind of a four-flusher Mark Olson is, and that he does not stand for law enforcement at all, and Wagner will now have to make up another brand of dope to feed to the public. OLSON WILL NOW STAND ON BANK RECORD Most people think that Olson now has had enough of the prohibition and law enforcement question and will stand on his record hereafter as a banker, he being the receiver of the Farmers State Bank at Medicine Lake.

3. February 6, 1925 The Producers News Plentywood, MT

Article from The Producers News, February 6, 1925

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SHERIFF'S SALE IN THE DISTRICT COURT OF THE TWENTIETH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF SHERIDAN. RODERICK McGREGOR, Plaintiff, versus EDDIE HJORT and LOTTIE HJORT, his wife, FARMERS STATE BANK, Medicine Lake, Montana, a corporation, and S. O. SWENSON and M. M. OLSON, Receivers of said Bank, Defendants. To be sold at Sheriff's Sale, on the 28th day of February, A. D. 1925, at the hour of two (2) o'clock P. M. of said day, at the front door of the County Court House, at Plentywood, in the County of Sheridan, State of Montana, to the highest bidder for cash, the following described Real Estate, situated, lying and being in the County of Sheridan, State of Montana, to-wit: Beginning at a point the Northwest corner of Section Thirty (30) Township Thirty-two (32), Range Fiftysix (56) East of the M. M. Thirtythree feet due south, thence due east 953 feet, thence due scuth 2608.9, thence due East 1688.9 feet, thence due North 2608.9 feet, thence due West 1688.9 feet to the place of beginning containing One Hundred thirty acres more or less, being a portion of the Northwest quarter of Section Thirty (30), Township Thirty-two (32), Range Fifty-six (56) East Montana Meridian, Montana, less the Butler Addition to Medicine Lake. Also the following lots: 1, 2, 3, 4, 5, 6, 7, 8, and 9 in Block Fifteen (15) of Butler's Addition to Medicine Lake, east of the Montana Meridian. containing One Hundred Thirty (130) acres, more or less, according to the thereof. United States Government survey And more particular all the right, title and interest of the above named defendants, in and to the Real Property hereinbefore described. Dated at Plentywood, Montana, this 5th day of February, 1925. RODNEY SALISBURY, Sheriff of Sheridan County, Mont. By CLAIR STONER, Under-Sheriff. GRANT BAKEWELL, Medicine Lake, Mont. Attorney for Plaintiff. 44-t4

4. February 13, 1925 The Producers News Plentywood, MT

Article from The Producers News, February 13, 1925

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5. February 13, 1925 The Producers News Plentywood, MT

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E. W. WILCOX, Plaintiff, VS. HUBERT L. WILLETT, also known as HERB L. WILLET and HERB. L. WILLETT, E. J. LANDER & CO., a corporation, AAGE TH. LARSEN, KRISTINE LARSEN, THE FARMERS STATE BANK, Medicine Lake, Montana, a corporation, S. 0. SWENSON, also known as C. O. SWENSON, MRS. S. O. SWENSON, also known as MRS. C. O. SWENSON, STATE DEPOSIT BANK, Minneapolis, Minnesota, a corporation, and MARK OLSON, Receiver of THE FARMERS STATE BANK, Medicine Lake, Montana, Defendants. THE STATE OF MONTANA TO THE ABOVE NAMED DEFENDANTS: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon you, and to file your answer and serve a copy thereof upon the plaintiff's attorneys within twenty days after the service

6. February 27, 1925 The Producers News Plentywood, MT

Article from The Producers News, February 27, 1925

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E. J. LANDER & CO., a corporation, Plaintiff, VS. HUBERT L. WILLETT, F. D. MORCK, THE FARMERS STATE BANK, Medicine Lake, Montana, a corporation, S. O. SWENSON, STATE DEPOSIT BANK, Minneapolis, Minnesota, a corporation, THE MIDLAND NATIONAL BANK OF MINNEAPOLIS, a corporation, MRS S. O. SWENSON, MARK OLSON, Receiver of the Farmers State Bank, Medicine Lake, Montana, a corporation, Defendants. THE STATE OF MONTANA TO THE ABOVE NAMED DEFENDANTS: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon you, and to file your answer and serve a copy thereof upon the plaintiff's attorneys within twenty days after the service of this summons, exclusive of the day of service; and in case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the complaint. This is an action to foreclose a mortgage of: east half of the southeast quarter of section twenty-three and the northwest quarter of the northwest quarter and the east half of the northwest quarter and the west half of the northeast quarter of section twenty-five, and the northeast quarter of the northeast quarter of section twenty-six in township thirty-four north of range fifty-seven east of the Montana Meridian, containing 320 acres, more or less, according to the United States government survey thereof, together with all hereditaments and appurtenances thereunto belonging or in anywise appertaining; given by the defendant Hubert L. Willett to plaintiff on November 14, 1916, and recorded in the office of the County Clerk of Sheridan County, Montana, in Book 126 of Mortgages, on pages 415-416. Judgment is asked against the defendant Hubert L. Willett for $894.78, with interest at twelve per cent per annum on $522.21 thereof from October 30, 1924, and on $372.57 thereof from December 1, 1924; $75.00 attorneys fees, $4.00 paid for abstract and the plaintiff's costs; against all the defendants foreclosing the mortgage and declaring the rights, titles claims, interests or liens of the defendants or any of them in, to upon the premises subject to the mortgage and to any decree herein and barring and foreclosing the defendants thereof, including equity of redemption; against the defendant.

7. March 6, 1925 The Producers News Plentywood, MT

Article from The Producers News, March 6, 1925

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DEPOSITORS WILL WELCOME COURT'S ACTION Judge S. E. Paul has set aside Some More Civil War March 21st, 1925, for the purpose of Vets in Sheridan County publicly examining the receivers and Other war veterans who served in their reports of the following closed the Civil War and who are now livbanks in Sheridan County. The Farmers State Bank of Medicine Lake, The ing in Sheridan County are: John Loutzenhiser of Antelope and William Sheridan County State Bank of PlenPritchert of Dooley. Each week the tywood and The State Bank of PlenProducers News receives information tywood. The judge advises that he as to other veterans and from all finds that Comer never approved or appearances Sheridan County will disapproved reports filed by the relead all Montana in the number of ceivers of closed banks in this county, Veterans of the Civil War. Sheridan but merely had them filed and evicounty is proud of her old soldiers dently forgot about them. The judge and if any one knows of other Veteris required to approve or disapprove ans in this county, the Producers the reports as filed and it is for the News would be glad to hear from purpose of giving any interested dethem so as they may also publish positor or other persons a chance to their names. be heard that Judge Paul has decided to have the receivers publicly examFROID LOSES TO ined. MEDICINE LAKE GIRLS At this hearing it is anticipated Last Friday night, Feb. 20, the that the aggrieved depositors, if Froid girls' basket ball team lost a there are any, will avail themselves slow ragged game to the Lake girls of the courtesy by the judge and be on the latter's home floor by a 7-5 present and examine the receivers. score. Judge Paul is not required to conduct A lunch was served to the teams public hearings, but could use his own after the game. This was a nondiscretion as to the approval or the conference game and does not effect disapproval of the receivers' reports the locals championship. He desires to protect the public as much as possible and if the depositors do not appear and object to any of the reports or any items therein, QUEBEC REPORTS he of course, has no other alternative than to approve of them as rendered. A peculiar circumstance of the THREE ARE DEAD closed banks in Sheridan County is that none, to our knowledge, have declared any dividends whatsoever, IN EARTHQUAKES although this is the best year this count y has had since 1915. Quebec, March 4.-Three persons All moneys collected by the receivdead, scores of homes damaged by ers belongs ta the depositors if such tremor and fire, one church collapsed, collections are on papers owned by and general consternation among resithe bank at the time it closed. In dents of the St. Lawrence and Sague every instance when the bank was nay all the known toll of the earthforced to suspend, the officers declarquakes of last Saturday night and ed that they would pay the depositors Sunday morning. to the extent of from 75 to 100 per In the Eaguenay district it was re cent but these promises are locked ported the quakes had been almost upon as so much bunk by the depositcontinuous since the first ones prior ors who up to this time have not reto Saturday midnight, the last hav ceived one penny from the closed ining occurred at 10:10 a. m., today. stitutions.

8. February 4, 1927 Plentywood Herald Plentywood, MT

Article from Plentywood Herald, February 4, 1927

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# LEGAL NOTICES Alias Summons IN THE DISTRICT COURT OF THE TWENTIETH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF SHERIDAN. Flora Von Coelln, Plaintiff, versus George H. Long; Stork O. Swenson and Verda L. Swenson, his wife; Farmers State Bank of Medicine Lake. Montana, an insolvent banking corporation, formerly Farmers State Bank of Valley County, Medicine Lake, Montana, and Fred Ibs n receiver thereof; LaCrosse Trust Company, a corporation, and Christina Von Coelln, executors of the estate of Frederick Von Coelln, deceased; Northland Securities Company, a corporation, Ben N. Benson; State Board of Hail Insurance one of the branches of the Goverment of the State of Montana, and E. K. Bowman, Chairman. A. H. Bowman Secretary, W. E. Harmon, and. P. J. Anderson, members thereof, Defendants THE STATE OF MONTANA Sends greetings to the above named defendants and to each of them. You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon one of you in each county wherein any of you reside, and to file your answer and serve a copy thereof upon the plaintiff's Attorney within twenty days after service of this summons, exclusive of the day of service, and in case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the complaint. Action to foreclose mortgage given by George H. Long, single, to Farmers State Bank, Medicine Lake, Montana on August 17, 1917, to secure the payment of his note, bearing said date, in the sum of $1500, due December 1, 1921, and thereafter extended by the defendants, Stork O. Swenson and Verda L. Swenson, his wife, to the first day of Deeember, 1925, by their extension agreement and three extension interest coupon notes, each in the sum of $105, due December 1, 1923, 1924, and 1925, and which said mortgage, and its extension, is in default, in the payment of the principal and interest provided for in said promissory notes (six per cent in the in the $1500 note and seven per cent in each of the $105 notes); said mortgage applying to the northeast quarter (NE¼) of of Section 34. Township 38 North, Range 56 East M. M., containing 160 acres, according to the Government survey thereof; and said makers of said original note and of said extension notes being indebted to the plaintiff in the principal amount therof, with interest, cost of abstract of title, taxes, and attorney's fees, all as are more fully set forth in the plaintiff's complaint, to which reference is hereby made for further particulars. Said plaintiff asks for the foreclosure of said mortgage, for thx full amount due, with all expenses and costs, as hereinbefore meetioned, for immediate possession, and for all proper relief. Witness my hand and the seal of said Conrt this 29th day January A. D. 1927. D. J. Olson, Clerk By A. M. Hansen, Deputy Clerk. (eal of the District Court) Howard M. Lewis, Esquire. Plentywood. Montana, Attorney for Plaintiff. Feb. 4 -Feb. 25

9. May 27, 1927 The Producers News Plentywood, MT

Article from The Producers News, May 27, 1927

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CHARLES FJERESTAD, Plaintiff, versus CHRISTIAN SAMUEL IBSEN and SEVERINE IBSEN, his wife, H. G. SCHREIBER, PATHMANN SCHREIBER MERCANTILE COMPANY, a corporation, SHERIDAN COUNTY, State of Montana, a body corporate and Politic, FARMERS STATE BANK, a corporation, of Medicine Lake, Montana, and FRED IBSEN, Receiver of said Bank, STATE BANK OF GRENORA, a corporation, and L. R. BAIRD, Receiver of said Bank, STATE BOARD OF HAIL INSURANCE, and E. K. BOWMAN, its Chairman and A. H. Bowman, W. E. Harmon, P. J. Anderson and B. J. Anderson, Members of said State Board of Hail Insurance, Defendants.

10. October 28, 1927 The Producers News Plentywood, MT

Article from The Producers News, October 28, 1927

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GEORGE FORTUNE, Plaintiff, versus FERDINAND HUETH and AUG- USTE HUETH, his wife; FARM- ERS STATE BANK, MEDICINE LAKE, MONTANA, a corporation; and Fred Ibsen, receiver thereof; MIDLAND NATIONAL BANK, MINNEAPOLIS, a corporation, and W. S DAVIDSON, Defendants. TO BE SOLD AT SHERIFF'S SALE on the 12th day of November,