First State Bank - Medicine Lake, MT

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: July 18, 1931
Location: Medicine Lake, Montana (48.501, -104.505)

Metadata

Model: gpt-5-mini
Short Digest: 4844fe30

Response Measures

None

Description

Article (The Producers News, 1931-07-24) reports the First State Bank of Medicine Lake 'closed its doors last Saturday' and then describes stockholders adopting a 'five-year plan' and that it 'Reopened Again on the Five-Year Plan' (headline). I infer the suspension date as 1931-07-18 (the Saturday before the 1931-07-24 publication). Cause is classified as bank-specific adverse information (insolvency/poor loan repayment/bleeding to death). Reopening is mentioned but no precise reopening date is given.

Events (2)

1. July 18, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had been 'slowly bleeding to death' (insolvency/poor loan repayments); ceased to meet demands and closed doors midday; heavy withdrawals implied ('last dollar was paid out').
Newspaper Excerpt: The First State Bank of Medicine Lake closed its doors last Saturday about noon. ... after slowly bleeding to death for some time went into a state of coma and ceased to meet demands.
Source: newspapers

2. * Reopening

Newspaper Excerpt: Reopened Again on the Five-Year Plan. ... the five year plan was unfolded. They must ... (stockholders meeting).
Source: newspapers

Newspaper Articles (1)

1. July 24, 1931 The Producers News Plentywood, MT

Article from The Producers News, July 24, 1931

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Article Text

MEDICINE LAKE FIRST ST. BANK CRUMPLED SAT. Slowly Bleeding to Death, It Went Into Coma Last Saturday as the /Last Dollar was Paid Out-Reopened Again on the Five-YearPlan. The First State Bank of Medicine Lake closed its doors last Saturday about noon. Some say that it did not close but after slowly bleeding to death for some time went into a state of coma and ceased to meet demands. This bank is the bank of Ed. Powers, the directing genius of the Sheridan county republican party. Powers was out last week trying to get the farmers to sell their milk cows and apply the proceeds on their notes at the bank. Few of them did it however. As soon as the bank went into suspended animation the stockholders of the bank were called into S meeting to face the situation. One of the heavy depositors was called in and the news broken to him gently. Then the five year plan was unfolded. They mus, if they (Continued on Last Page)