11504. State Bank (Plentywood, MT)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: December 3, 1923
Location: Plentywood, Montana (48.775, -104.562)

Metadata

Model: gpt-5-mini
Short Digest: 0afb037b

Response Measures

Full suspension, Books examined

Description

Deposit withdrawals and panic occurred in early December 1923. The bank suspended payments (closed) Dec. 4, 1923 and was later placed in receivership (N.L. Nelson, then Fred Ibsen). Assets were liquidated and dividend payments to depositors followed (receivership actions and sheriff's sales 1924–1928). Cause appears to be bank-specific weakness/insolvency rather than a discrete false rumor.

Events (4)

1. December 3, 1923 Run

Cause: Bank Specific Adverse Info
Cause Details: Bank had been precarious for months, had previously required large capital injection Sept. 1923; ran out of currency and began refusing checks and deposits, prompting panic withdrawals.
Measures: Employees stayed on duty; bank awaited shipment of currency from Federal Reserve and examiners arrived from Redstone
Newspaper Excerpt: depositors became panic stricken...numerous deposits were made Monday before the bank suspended payments
Source: newspapers

2. December 4, 1923 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Unable to pay out currency and honor checks; prior insolvency signs and insufficient liquidity forced suspension of payments and closing by state examiners/officials leading to receivership proceedings.
Newspaper Excerpt: The State Bank of Plentywood closed its doors December 4th, 1923 with deposits of $140,000 and an indebtedness of $75,000.
Source: newspapers

3. January 1, 1924* Receivership

Newspaper Excerpt: agreement ... in the event the State Bank of Plentywood shall fail to resume business, or in the event the Superintendent of Banks shall fail or refuse to approve the resumption of business by said bank this agreement shall be without effect. (Receiver actions follow in 1924–1926 articles). N. L. NELSON, Receiver ... and later FRED IBSEN, Receiver of State Bank of Plentywood appears in subsequent legal notices and asset sales and dividend distributions in 1925–1928.)
Source: newspapers

4. January 6, 1928 Other

Newspaper Excerpt: Receiver Fred Ibsen ... issuing checks in payment of a 20 per cent dividend to be paid to depositors in the defunct State Bank of Plentywood. The payment involves expenditures in excess of $20,000.
Source: newspapers

Newspaper Articles (18)

1. December 7, 1923 The Producers News Plentywood, MT

Article from The Producers News, December 7, 1923

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WAITING FOR CASH SAYS BANK OFFICER Information Unavailable As to Actual Status of the BankSome Think It Will Open Again Às Soon as Available Cash Can Be Secured. The State Bank of Plentywood ceased to operate as a bank Monday RAY WHITE'S CAR afternoon. It took deposits up until Monday noon, when it was unable to pay out any more money, even turnSTOLEN LAST WEEK ing down checks in the sum of $1.00. The institution then refused to take BUICK BELONGING TO LOCAL in deposits. and continued to refuse STATION AGENT MYSTERIOUSpayment upon paper drawn upon it. LY DISAPPEARS FROM GARThe doors of the bank, however, AGE. were not closed, nor were any representatives of the State banking deBetween Thursday evening and partment in town, nor has any repSaturday afternoon of last week, the resentative been in town since. as far 1921 5 passenger Buick belonging to as can be learned. The excuse given Ray White, local depot agent, was out by employes of the bank for the stolen from the garage at his home. nonpayment of orders, was that the According to reports, Mr. White bank had run out of currency, but had not seen the car since Thursday that payment would be resumed night and after the snow storm of Tuesday morning, when the train Friday, figured that he might as well came in with a shipment of currency, take the battery out of the car as which Cashier N. L. Nelson was in he would not be using the machine the Twin Cities arranging for with any more this winter. Upon going to the Federal Reserve Bank. Tuesday the garage he found the car had been morning passed, Wednesday morning stolen from the garage. came and no currency arrived and the Mr. White notified the Sheriff's ofbank did not resume payment or the fice of the loss of the car and they taking of deposits. Still, however, the immediately got on the trail of the doors remained open and no officers thief and it is said they have a clue of the State Banking Department arto his identity and if he is captured rived. Neither did Cashier Nelson the officers believe it will bring out show up-depositors became panic same sensational developments. stricken. and Thursday morning all Mr. White purchased the auto from were convinced that something serithe Donaldson Garage two years ago ous had happened, although employes and the machine was in good condiin charge of the bank would not adtion. Mr. White, according to reports, mit that the bank had closed, but is very fortunate in having $1100 inclaimed that it was only in sort of surance on his car against theft, suspended animation waiting for which insurance will no doubt cover money when it would resume operathe loss to Mr. White. tion. Friday morning the doors of * * * * the bank opened as usual with all M'MASTER ORDERS CUT hands at service but Cashier Nelson remained absent and no legend ap* Huron, S. D., Dec. 6.-Gover* * peared, announcing the final closing of nor W. H. McMaster entered the * the bank. to break the suspense. gasoline war again here today * Monday morning, one of employes and ordered the sale of gas from of the bank appeared in the County * the state's station at the fair Treasurer's oflice and asked to ex* grounds at 13 cents per gallon. e (Continued on Page Four) * * *

2. December 7, 1923 The Producers News Plentywood, MT

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State Bank of Plentywood Closes Payments Monday (Continued from page 1) change county, school and city warrants, which they had on hand in the sum of $2500.00 for checks given in payment of taxes by taxpayers drawn on that bank which offer was accepted and the exchange was made. However, Tuesday, about $4,000 more checks in payment of taxes drawn on that bank appeared in the County Treasurer's office, which that bank has been unable to honor, and which checks unless cashed soon will be returned by the County Treasurer to the drawers without their tax receipts. The failure of this bank at this time is a calamity upon the people of Plentywood and vicinity. The bank had numerous customers, probably the most substantial in the county. The money for the faii crop had been deposited in the bank quite generally, and much of it had been checked out in payment of takes, which checks will probably be returned protested to the drawers without the tax receipts, which means that the taxes of the drawers will go delinquent. with penalty added thereto. It was to avoid this very calamity that County Treasurer Olson asked the taxpayers several times to tender the payment of taxes in cash, but many of the taxpayers did not heed his request. Numerous deposits were made Monday before the bank suspended payments and much hardship is the results. Assessor Aspelund deposited his pay check about noon Monday only to have his checks refused a couple of hours later. The Lutheran Ladies' Aid deposited quite a sum of money in the bank last week as did also several Sunday school treasurers. The conditions of this bank became precarious last summer but about September 1st, Peter Marron, one of the heavy stockholders. raised $25,000 for it which tided it over for the time. The bank has not paid county drafts for nearly two years, and for three months did not even renew its bonds for county deposits, while at the same time it refused to pay the county its money, and it was only after the most urgent representations were made to Gov. Dixon and Bank Examiner Skelton. and after the arrival of special examiners in Plentywood at the time of the closing of the Sheridan County State Bank the second time, did the State Bank of Plentywood renew its bonds with the county, and otherwise set its house in order. However, Cashier Nelson gave out many times thereafter that the bank had weathered the crisis, and would pull through. On September 1st, Governor Dixon promised Sen. Taylor, in a letter to him that all depositors in Sheridan County banks after September 1st, would be "Trusteed," that is put in special funds by themselves, and not mixed with the funds of the bank, SO that they could be held intact and returned to the depositors in case of a closing. Whether this promise has been kept or not in reference to the closed bank is unknown at this time. If it has, all depositors since Sept. 1st. will get their money back. It is to be hoped that this promise has been kept. County Treasurer Olson reports the that there are about $12.000.00 of the county's funds deposited in State Bank of Plentywood, which he believes is amply protected by personal bonds, mortgages. and warrants.

3. December 14, 1923 The Producers News Plentywood, MT

Article from The Producers News, December 14, 1923

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N.L. NELSON RETURNS FROM EAST TUESDAY * The State Bank of Plentywood is still in a state of "Suspended AniNels Moe Coming to Armation." Saturday afternoon last, the bank examiners arrived from Redrange Bout With House stone, where they had been working * on that bank, and started to examine It is reported that Nels Moe * will arrive in Plentywood about the suspended bank here. Whether the 15th of the month to arrange they took possession of the bank OF not is not yet known, but a sign a wrestling match with Elwood announcing that the bank has been House of Outlook. closed at the order of the State Bank Examiner has not yet appeared. The employes of the Bank still arrive each morning at nine o'clock and PLENTYWOOD H. S. TO stay all day during the banking hours when they close the bank and return home. Every day large numbers of GIVE ONE-ACT PLAY depositors appear to inquire whether or not the bank has resumed the pay"The White Christmas," Will Be Prements of checks, to be informed that sented to the Public at the Orpheum it has not, nor does it seem to know December 20th-No Admission Will when it will or what it intends to do. In fact the whole situation seems to Be Charged. be a joke, whether on the bank or the "The White Christmas," a morality public, na one can exactly tell. Howplay in one act centering about the ever, in this matter the attitude of the birth of Christ will be presented by State Banking Department seems to the Plentywood High School at the be the grimest of all. As things stand as the Producers Orpheum on Thursday evening, the twentieth of December at eight News goes to press it is not known o'clock. just what the status of the bank is. THE CAST Employes of the bank, as usual in Susie Legge The Prologue bank failures, are vehement in the claim that the bank is solvent and Mary, the Maiden Mother Lillian Gunderson will pay out every dollar, and are Joseph, Of the House of David claiming this in spite of the fact that Elder Gunderson no bank in the history of financing Simeon. An Old Shepherd has ever done this, and it is hoped Leroy Parkhurst by everybody that these assertions Timonthy, A Shepherd, the husband wili prove correct. Oscar Benson of Anna MARRON QUITS Isaac, A Young Shepherd However, Pete: Marron, one of line Clarence Pappenfus heavy holders in the bank and one of Anna, the wife of Timothy its chief financial mainstays, is reTheresa Grimsrud ported to have told his friends that he Thomas the little son - Kenneth Kelly has put the last dollar into the instiRuth, the little daughter tution that he is going to put into Eleanor Stambaugh it and that he will have nothing more Deborah, the Hostess of the Inn to do with the institution in the futMabel Guenther ure. Mr. Marron is said to have Rachael, a maiden of Bethlehem raised $25,000 for the bank in SepMargaret McNulty tember and saved it at that time when Priscilla, her cousin - Ruby Johnson it was reported to have been headed Melcheir Gaspar Baltasar, the Wise for the rocks. men from the East - Oliver ZieA WEEK WILL TELL barth, Marion Mitchell, James Bruce Another week will probably tell Added features of the program will whether the State Banking Departbe: ment is going to close the bank or The Girls' Glee Club whether the bank will resume operaThe Girls' Quartette tion. The State Banking Department The Boys' Quartette has so many insolvent banks on its 'The Great Guest Comes"-Marion hands at this time that it is overworkMitchell. ed which is said to account for its The public is invited to be present. y seeming tardiness. No admission charge will be made. NELSON BACK FROM EAST In event the weather permits, the N. L. Nelson, cashier of the State high school students will sing Christmas carols about town before the evBank of Plentywood, is reported to have returned from the east the midening's program. dle of the week, but as the Producers es News goes to press he has net made Advertise where it Days-circulaV. tion 2,000 every week. any statement.

4. February 22, 1924 The Producers News Plentywood, MT

Article from The Producers News, February 22, 1924

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defer the time of payment of their respective deposits over a period of years. WHEREAS, the undersigned is a depositor or holder of a claim against the State Bank of Plentywood, Montana, and Whereas, the said bank is now in suspension and efforts are being made to have it resume business and Whereas, it is necessary to defer the due date of deposits in order that the bank's assets may be liquidated in an orderly manner and without the necessity of a reçeivership. Now therefore in consideration of the premises and the mutual benefits and respective signatures hereto subscribed and the acceptance hereof by the State Bank of Plentywood, each of the subscribers respectively agrees to accept a certificate of deposit for $11,567.37, which shall be payable as follows: 10 per cent of the amount shall be payable December 4, 1925 10 per cent December 4, 1926 Deecmber 4, 1927 20 per cent 20 per cent December 4, 1928 December 4, 1929 20 per cent 20 per cent December 4, 1930 Said certificate of deposit shall bear interest at the rate of 5 per cent per annum, payable in cash annually. and may be retired and paid by said bank, before maturity should local conditions warrant it. In the event the State Bank of Plentywood shall fail to resume business, or in the event the Superintendent of Banks shall fail or refuse to approve the resumption of business by said bank this agreement shall be without effect. SHERIDAN COUNTY, MONT. By R. G. TYLER, Chairman. JENS IBSEN Roll call on motion: Commissioner Ibsen: yes. Commissioner: Yes. Commissioner Lundeen: No. Motion carried. At this time there being no bids for supplies for fumigating purposes before the Board, said matter was laid over to next regular meeting. On motion at 12 o'clock noon, the Board adjourned. Attest: Clerk Chairman

5. May 30, 1924 The Producers News Plentywood, MT

Article from The Producers News, May 30, 1924

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MILLERS NATIONAL INSURANCE COMPANY, a corporation, Plaintiff. vs. OLE M. OLSON and SADIE OLSON, his wife; WELLS-DICKEY COMPANY, a corporation; N. L. NELSON, Receiver of the STATE BANK OF PLENTYWOOD, a corporation, and N. L. NELSON, 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 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. Said action being brought for the purpose of obtaining a judgment against the defendants, Ole M. Olson and Sadie Olson, his wife, for the sum of Twenty-eight Hundred and Seventy-five Dollars ($2875). together with interest thereon on three promissory notes; for the sum of Three Hundred Seventy-one and 91-100 Dollars ($371.91), together with interest thereon, said sum being taxes paid by the plaintiff; for the purpose of foreclosing a mortgage made by the defendants, Ole M. Olson and Sadie Olson, his wife, to Wells-Dickey Company, and assigned to plaintiff herein, to secure said notes; and for the payment of a reasonable attorney's fee for the foreclosure of said mortgage, all of which more

6. June 13, 1924 The Producers News Plentywood, MT

Article from The Producers News, June 13, 1924

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MILLERS NATIONAL INSURANCE COMPANY, a corporation, Plaintiff. vs. OLE M. OLSON and SADIE OLSON, his wife; WELLS-DICKEY COMPANY, a corporation; N. L. NEL- SON, Receiver of the STATE BANK OF PLENTYWOOD, a cor- poration, and N. L. NELSON, De- fendants. 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 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. Said action being brought for the purpose of obtaining a judgment against the defendants, Ole M. Olson, and Sadie Olson, his wife, for the sum of Twenty-eight Hundred and Seventy-five Dollars ($2875). together with interest thereon on three promissory notes; for the sum of Three Hundred Seventy-one and 91-100 Dollars ($371.91), together with interest thereon, said sum being taxes paid by the plaintiff; for the purpose of foreclosing a mortgage made by the defendants, Ole M. Olson and Sadie Olson, his wife, to Wells-Dickey Company, and assigned to plaintiff herein, to secure said notes and for the payment of a reasonable attorney's fee for the foreclosure of said mortgage, all of which more

7. January 9, 1925 The Producers News Plentywood, MT

Article from The Producers News, January 9, 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. MILLERS NATIONAL LIFE INSURANCE COMPANY, a corporation, Plaintiff, VS. OLE M OLSON and SADIE OLSON, his wife, WELLS-DICKEY COMPANY, a corporation; N. L. NELSON, Receiver of the State Bank of Plentywood, a corporation, and N. L. NELSON, Defendants. To be sold at Sheriff's Sale, on the 24th day of January, 1925, at 2:00 P. M. at the front door of the Court House in the City of Plentywood, County of Sheridan, State of Montana, to the highest and best bidder for cash in hand, the following described property, to-wit: The South Half (S½) of Section Nine (9) in Township Thirty-Seven (37) North, of Range Fifty-seven (57) East of the Montana Meridian, together with all and singular the tenements, hereditaments and appurtenances thereunto belonging or in any-

8. April 10, 1925 The Producers News Plentywood, MT

Article from The Producers News, April 10, 1925

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N. L. NELSON, Receiver of State Bank of Plentywood, a corporation, Plaintiff,

9. April 17, 1925 The Producers News Plentywood, MT

Article from The Producers News, April 17, 1925

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N. L. NELSON, Receiver of the State Bank of Plentywood, a corporation, Plaintiff, VS. ROBERT SMITH AND JOSEPHINE SMITH, his wife, Defendants. To be sold at Sheriff's Sale an the 18th day of April, A. D. 1925, at 2 o'clock P. M. of said day at the front door of the County Court House in

10. June 12, 1925 The Producers News Plentywood, MT

Article from The Producers News, June 12, 1925

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# Open Forum ON DEFUNCT BANKS AND BANKERS Editor, Producers News: When the local banks went bump, failed and closed their doors, the losses to the depositors were enormous, amounting to catastrophies in many cases as widows, orphans, in-valids and infirm cripples were among the victims. When a person deposits his or her savings, it is evidently done for a reason for safekeeping, to keep it intact. In this case it is still in-tact and always will be. You will be more successful in squeezing blood from a turnip than squeezing out a penny from those institutions, of your savings. When you intrusted your funds into the hands of those bankers and they in turn squandered your money by foolish investments and loose business methods, it looks like premeditated swindling and nothing short of highway robbery. You are only missing the thrill of holding up your hands to a deadly threat-d the results are the same. We take off our hat in favor of the highwaymen for being the most decent gentlemen of those two professionals in robbery, the latter usually don't tackle widows and cripples which has been meat for the local bank wreckers who took all the advantage of our loose banking laws. What could not be found in the statute books was supplied by a simpleton of a judge who had a heart for bank wreckers and an aversion for the depositors who once made him district judge. Instead of punishing and imposing the law upon those bank crooks, he rewarded their perfidy by appointing them or some of them, Receivers, with a compensation of $200.00 per month, which was very consistent after the death and funeral of mother justice, but still remains in many a heart a brazen deed to allow them to feast on the corpse of the defunct institutions they wrecked and defrauded their creditors. Can you beat it? But such is justice in our commonwealth. Some of them have been feeding on the corpse going on two years, making a living from their own failure which is what we would call the height of success in skullduggery and should not be tolerated. After the banks closed, especially the State bank, we heard much of its perforated bunk that the depositors would not lose anything: the bank's business was in fine shape and we would receive dollar for dollar of our money. If that was the case, what in Sam Hill did they close the doors for. A person or business institution is solvent as long as they can pay 100 per cent of its debts. You only go into bankruptcy when you get more debts than equity. Now, if that said had been true, why put a feeder on the corpse. Oh, I assume we will get it in the sweet by and by, where there is no use for money or we may meet them on the beautiful shores "Doubtful!" By that time their master, the Devil' will have taken his dues, and kicked them into oblivion to pay the penalty for defrauding widows and a tottering old man on crutches. We have known these birds—these bank crooks—for a long time. Some years ago, whenever we happened in-to town and met them face to face, they aiways handed us a packet of advice on what us boob farmers ought to go into. There was a gold mine for us farmers not buried very deep Those farmers could see it protruding right on the surface of the ground. So they got tired giving fool farmers advise and belted their legs and girded their loins and took to the field with the depositors money and invested it for themselves. But the maiden of success did not smile upon them. They came back with drawn haggard farces. Lo and behold boobs, they had eventually shown us that they could not farm and later that they could not run a bank. One of them has been a high officer of the Plentywood School System and has shown us that it has been run on the same plan of his farming and banking. Well, we have known these birds. We saw them in the height of their glory with oiled hair, powdered face, palm beach suits, their feet upon the slab of a marble desk, with drawn shades to protect them against the burning sun, or we saw them in the winter if they ventured outside to the corner, clad in a eight hundred dollar fur coat. They built themselves palaces or castles and lived in luxury and style while us poor homesteaders are still lingering in cramped quarters, in smoky homestead shacks. Where did they get the money, as they had nothing when they came here? The answer is plain: Depositors. We have also seen some of them dressed in a mantle of sheepskin lately, a historical, long herding stave in his hands, sitting upon the summit of some bare peak cogitating how to avoid giving an account to a defrauded widow and hiding a guilty conscience from an offended God and willing helper to cause the pain in the Northwest. FRED LUNDBERG, Unorganized Farmer

11. October 29, 1925 The Wolf Point Herald Wolf Point, MT

Article from The Wolf Point Herald, October 29, 1925

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# ALIAS SUMMONS In the District Court of Twentieth Judicial District of the State of Montana, in and for the County of Roosevelt. Investors Mortgage Company, a corporation, Plaintiff. vs. John H. Adams and Grace F. Adams, his wife, Petters and Company, a corporation, State Bank of Plentywood, Plentywood, Montana, a corporation, and Fred Ibsen as receiver of State Bank of Plentywood, a corporation, Defendants. The State of Montana Sends Greetings 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 the court, and to file your answer and serve a copy thereof upon the plaintiff's attorney within twenty days after the service of this

12. November 6, 1925 The Producers News Plentywood, MT

Article from The Producers News, November 6, 1925

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BANK BUILDING IS BOUGHT BY COUNTY Continued from Page One) The claim of $8,500 held by the county against the bank was for deposits the county had in the bank when that institution closed its doors. This deposit was secured by personal bonds of directors and some shareholders of the bank. While, under the law this was a preferred claim, it would cost considerable money to recover on it and there might be some difficulty in realizing on a judgment. JUDGE'S ORDER The Judge's order confirming the sale is as follows: Fred Ibsen, Receiver of the State Bank of Plentywood, an insolvent banking corporation, having made and filed in court his petition for the sale of the Lot Numbered Seven (7) of the Block Numbered Twelve (12), of the Original Townsite of Plentywood, Sheridan County, Montana, together with the bank building and office building thereon situated; and it appearing to the court that the valuation of said property is fixed by the Bank Examiner at Seven Thousand ($7,000.00) Dollars: that said property is renting for the sum of Fifty ($50.00) Dollars per month for said banking building, and Twenty Five ($25.00) Dollars per month for said office building: that the taxes on said building amount to about Seven Hundred ($700.00) Dollars per annum, and that the insurance thereon and cost of upkeep, are high: that the County of Sheridan, in the State of Montana, is a prospective purchaser of said lat and the two said buildings, and has made an offer to purchase the same from said Receiver, for the sum of Twelve Thousand ($12,000.00) Dollars, made up of the claim of Sheridan County, Montana, against said State Bank of Plentywood, an insolvent banking corporation and the Receiver thereof, in the sum of about 0 Eighty Five Hundred ($8500.00) Dollars, and the further assumption by Sheridan County as pur6 chaser of Fifteen Hundred ($1500.00) Dollars in back and 3 delinquent taxes upon said pro2 perty, and the further sum of 3 Two Thousand ($2,000.00) Dol0 lars in lawful money of the United States; and it appearing to the court that said property is at the present time carried at T a loss: that the above sale is the most advantageous and for the y best interests of said insolvent e banking corporation, and the Ree ceiver thereof: IT IS THEREFORE, BY THE e COURT, ORDERED, That the said Fred Ibsen, Receiver of said r State Bank of Plentywood, an insolvent banking corporation, d be, and he is hereby authorized, e empowered and directed to acr cept the offer of said Sheridan County, Montana, and to make said sale to it upon the terms and conditions hereinbefore set forth. g Dated this 4th day of November, A. D. 1925. b S. E. PAUL, y District Judge.

13. September 10, 1926 The Producers News Plentywood, MT

Article from The Producers News, September 10, 1926

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THE STATE OF MONTANA, Plaintiff. versus STATE BANK OF PLENTYWOOD, MONTANA, a corporation, Defendant. NOTICE IS HEREBY GIVEN by the undersigned Fred Ibsen, Receiver of State Bank of Plentywood, Montana, to the creditors of and all persons having claims against said bank, to exhibit them with the necessary vouchers within sixty days after the first publication of this notice, to the said Receiver at his office in Plentywood, Montana, or said claims may be disallowed. Dated September 9th, 1926. FRED IBSEN, Receiver. First publication, Sept. 10, 1926. Last publication. Oct. 1. 1926.

14. October 1, 1926 The Producers News Plentywood, MT

Article from The Producers News, October 1, 1926

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THE STATE OF MONTANA, Plaintiff -versusSTATE corporation, BANK OF PLENTYWOOD, a It appearing to the satisfaction Defendant. of the Court from verified petition of Fred Ibsen, Receiver of State Bank of Plentywood, that several of the stockholders owning stock in said bank voluntarily paid an assessment of 100% on all stock owned by them shortly before said bank closed, which reduced the liabilities of said bank to that extent, and that said stockholders have offered at this time to pay a further assessment of 50% on all stock owned by them in said bank in full satisfaction of their stockholders liability; now, therefore, it is hereby ORDERED, That all persons having claims against said bank who object to such compromise settlement being made, appear before this Court, at the Courthouse in Plentywood, Montana, on the 30th day of October, 1926, at 10:00 o'clock A. M. and show cause, if any they have, why such compromise settlement should not be made; or that prior to said date they file with the Clerk of this Court written objections to such compromise setlement; and IT IS FURTHER ORDERED, That notice hereof be given by publishing a copy of the Order to Show Cause for four successive weeks in the Producers News, a weekly newspaper printed and published at Plentywood, Montana, and by mailing a copy of this order to each person having an approved claim against said bank in the sum of $500.00 or more. Dated September 28th, 1926. S. E. PAUL, Judge. First Publication October 1, 1926. Last Publication October 22, 1926.

15. January 6, 1928 The Producers News Plentywood, MT

Article from The Producers News, January 6, 1928

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Destroyers, Marines Ordered to Nicaragua Teller Bank * Is Kidnaped and Forced to Open Vault 8,000 DOLLAR BOND Kidnapper STATE BANK OF CHICAGO GANG MAKE ESCAPE ISSUE CARRIES PLENTYWOOD PAYS IMPERIALISTS SEND WITH $80,000 IN CURRENCY Plentywood Sewer System Will Be 20% DIVIDEND Extended to Big Muddy River. Few Freeholders Register for Aged Parents of Employe Forced to Face Revolvers of RobFORCES TO QUELL Election. bers-Outlaws Cooly Await Release of Time Lock Before Notices have been sent out by Receiver Fred Ibsen that the Making Attempt. Escape In Automobile After Locking The Plentywood sewee system defunct State Bank of Plentywood Cashier in Wash Room of Bank. would pay a 20 per cent dividend will be extended to the Big Muddy INSURGENT TROOPS to all holders of Receivers' Cerriver, accordiag to the vote of the tificates of Proof of Claim during taxpayers of Plentywood, who voted the month of December. Chicago, Dec. a blinding an $8.000 bond levy for that pursnow storm, six men kidnaped a bank The State Bank of Plentywood SIMON SWANSON TO Hundreds of American Marines Lay Down Life That Imperialpose last Tuesday. teller as he drove into his garage, wish N. L. Nelson as cashier, ists of United States May Control Policy of Nicaraguaforced his parents from their bed to closed its doors December 4th, While interest in the election make them captives, and escaped with 1923 with deposits of $140,000 ATTEND DELCO MEET Zepeda Says American Authorities Withhold Exact Figures seemed ratha diffident, according $80,000 after intimidating the son inand with an indebtedness of $75, of American Casualties-Sandino to Fight Foreign Invato the number registering for the 000. Since that time the bank to opening the vault of the Ravenswood National bank. election, the sentiment for the exhas been in the hands of a receivsion to the Last Ditch and Will Die By Own Hand If Cause Simon Swanson ,ocal Delco-Light er. Posing as prohibition agents, the Is Lost. tension seemed overwhelming. At representative, left today for Chicago, The 20% dividend which is dismen accosted George Anderson shortto attend the annual sales convention the final count only five votes were tributed at this time amounts* to ly before midnight and told him they of the Delco-Light Company for this registered against the bonding of about $20,000. This is the first wished to search the car and house section of the country, to be held in the city to extend the sewer. dividend to be declared by the for liquor. They awoke the father that city on January 7th. Washington, D. C., Jan. 4.-Senator Nye, Republican, State Bank of Plentywood and it The City Council will Recide at and mother, Mr. and Mrs. Algot AnNorth Dakota, introduced a resolution today in connecThe convention is one of six being derson, held the three of them priswas joyously received by the peoits next meeting as to what disheld at strategic cities throughout the until 6 o'clock and then hustled tion with the Nicaraguan situation declaring the policy of ple who have been waiting so long posal will be made of the $8,000 United States by the Delco-Light them out into the cold. to realize something from the the United States to be to forced intervention in Company, a subsidiary of General bonds and the best offer will no money which they had placed in The parents, in their sixties, were protection of American interests in foreign lands. Motors. Plans for 1928 sales, orgathat institution. doubt be accepted by the city dads. bound and left under guard of two William Edward Hickman selfnization of a new club group which

16. January 6, 1928 Plentywood Herald Plentywood, MT

Article from Plentywood Herald, January 6, 1928

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State Bank of Pientywood Pays Good Dividends Fred Ibsen, receiver of several closed State Banks in Sheridan county is busy this week issuing checks in payment of a 20 per cent dividend to be paid to depositors in the defunct State Bank of Plentywood. The payment involves expenditures in excess of $20,000. Mr. Ibsen states it has been rather tough going to collect this money until this year, as with returnin good crops and prosperity in this County, many notes which were considered almost hopeless are being paid in full by the debtors From present indications of the trend of farmers to pay UD these notes, Mr. Ibsen believes that by May 1st he will declare another dlyidend for the State Bank of Plentywood. The assets of the closed HomeState Bank will be sold January 6th and as soon as this sale has been made another substantial dividend will be paid to the creditors of this bank, which will be possibly 20 per cent at this time, Mr. Ibsen will also sell all the assets of the closed Citizens Bank of Antelope in the course of the next two weeks, and at that time all moneys derlved from this sale, coupled with collections now in hand, will be distributed equitably between the depositors of this bank, and it is believed this will be in the neighhorhood of 20 per cent. Receiver Ibsen believes that at rate farmers are coming to pay up their notes in these closed banks, it will be possible to close the receivership in the course of the next nine or teu months.

17. January 6, 1928 Plentywood Herald Plentywood, MT

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dinner guests of Father O'Rourke Thursday evening. Nancy Marron left Saturday for Missoula to continue ber work at the State University. Judge S. E. Paul went to Havre Dec. 29th where he sat in Hill County legal cases. Alden Johnson went to Milwakee last Monday where he has a position with an express company. Mr. and Mrs. C. J. Flaten came over from Opheim to spend the New Year bolidays with the Ibsen family. Grace Sherry of Redstone left for home Tuesday after spending her holiday vacation with her chum Harriet Bull. Miss Nora Braaten of Glasgow ar rived here Monday and will spend a couple of weeks visiting at the Matkin home. Miss Alice Ator left Monday for Conrad, Montana, where she has ac cepted a position as bookkeeper in a general store. Thursday last week, Dec. 29th, a daughter was born at the local hospital to Mr. and Mrs. J. H. Gol terman of Redstone. Receiver Fred Ibsen is holding ar auction sale today of the remainder of assets of the Homestead State Bank at Homestead. Mr. and Mrs. Forrest Matkin and daughter Mary Lou visited for week during the holidays with J. D. Matkin and family. Chester Onstad and Oliver Zie barth are back at their State Uni versity work, Missoula, after spend .ing a couple of weeks at home. Mesdames Forman and Redmond entertained a number of youn) ladies at an elaborate 6 o'clock din ner Thursday evening. Cards wer enjoyed until a late hour. Wm. Ross of Daleview broug his daughter Bertha back to Plenty wood Monday after spending he vacation at home. Miss Bertha is a freshman in high school. Beulah Nelson returned Monday from Dooley where she spent he vacation with her father. Mis Buelah is making her home with her sister Mrs. Leland Kitzenberg while attending school. A number of young people from Redstone and Flaxville were here to attend the masquerade dance at the temple Saturday night. It was the annual masquerade ball sponcered by the Degree of Honor. Fred Ibsen, receiver of the former State Bank of Plentywood, is busy writing dividend checks. They are receiving a 20 per cent dividend, which is considered very good and the majority of depositors are well satisfied. E. W. Palutzke who has 21 tenants on farms in this state, offered three prizes the past season for the best average production per acre. Last week Rav Bishop who is one of the tenants, living south of town received a check of $75 as the winner of second prize.-Redstone Re view. Friday evening Tom Rossum re turned to take charge of his duties at the hospital. Mr. Rossum left before Christmas to spend a week with his son-in-law John Lien and family six miles northeast of Out look. Arthur Knutson looked after the janitor work at the hospitduring Tom Fossum's absence. A teacher training class will be

18. March 2, 1928 The Producers News Plentywood, MT

Article from The Producers News, March 2, 1928

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WILLIAM O'BRIEN, Trustee, Plaintiff, -versusCORA SANDVIG NELSON, N. L. NELSON, her husband, STATE BANK OF PLENTYWOOD, a corporation, FRED IBSEN, as receiver of the State Bank of Plentywood, a corporation, and CITIZENS STATE BANK OF NEW ULM, MINNESOTA, a corporation, Defendants.