Melstone State Bank - Melstone, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 20, 1926
Location: Melstone, Montana (46.599, -107.872)

Metadata

Model: gpt-5-mini
Short Digest: 8d81531d

Response Measures

None

Description

Articles (Mar 20, 1926) report the receiver E. A. Cornwell closed out affairs of the Melstone State Bank by selling remaining assets at public auction. No mention of a prior run in these clippings; bank was in receivership and liquidated, indicating permanent closure.

Events (1)

1. March 20, 1926 Receivership

Newspaper Excerpt: RECEIVER E. A. Cornwell of Forsyth, closed up the affairs of the Melstone State bank last week by selling at public auction the bank's remaining assets.
Source: newspapers

Newspaper Articles (2)

1. March 20, 1926 Ingomar Independent Ingomar, MT

Article from Ingomar Independent, March 20, 1926

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Article Text

RECEIVER CLOSES OUT MELSTONE BANK AFFAIRS Receiver E. A. Cornwell of Forsyth, closed up the affairs of the Melstone State bank last week by selling at pubHe auction the bank's remaining assets. First to be sold were individual notes all the way from a very few dollars each up to $17,000. Bids as low as 25 cents were entertained, and in no case did even a large note running up to four figures bring more than $65. After all the notes were individually that could be the others. totaling about $35,000, were offered in a bunch and sold for less than one hundred dollars. It was very Interesting to note that in many instances the makers of the notes were present and were able to purchase some very sizeable evidence of indebtedness for a bid of less than a dollar, that they could not otherwise meet.

2. March 20, 1926 The Garfield County Journal Edwards, MT

Article from The Garfield County Journal, March 20, 1926

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Article Text

RECEIVER CLOSES OUT MELSTONE BANK AFFAIRS Receiver E. A. Cornwell of Forsyth, closed up the affairs of the Melstone State bank last week by selling at public auction the bank's remaining assets. First to be sold were individual notes all the way from a very few dollars each up to $17,000. Bids as low as 25 cents were entertained, and in no case did even a large note running up to four figures bring more than $65. After all the notes were sold individually that could be the others, totaling about $35,000, were offered in a bunch and sold for less than one hundred dollars. It was very interesting to note that in many instances the makers of the notes were present and were able to purchase some very sizeable evidence of Indebtedness for a bid of less than a dollar, that they could not otherwise meet.