11515. Citizens State Bank (Roundup, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 1, 1923*
Location
Roundup, Montana (46.445, -108.542)

Metadata

Model
gpt-5-mini
Short Digest
38c0a500

Response Measures

None

Description

The Citizens State Bank of Roundup was placed in receivership (closed) in February 1923 and remained in receivership through at least 1927; articles describe receivers, receivers' suits, and dividend payments. No contemporaneous bank run is described in the supplied articles, so this is a suspension resulting in closure/receivership.

Events (3)
1. February 1, 1923* Receivership
Newspaper Excerpt
John Oliver, then receiver of the defunct bank... Irvin Snyder, receiver of the Citizens State bank of Roundup. (articles 1924-1927 refer to receivers John Oliver and I. E./Irvin Snyder.)
Source
newspapers
2. February 1, 1923* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was closed and placed in receivership (insolvency of the institution) leading to suspension of operations.
Newspaper Excerpt
the Citizens bank. which closed its Montana. and for the County of CasFebruary 1923
Source
newspapers
3. December 1, 1926 Other
Newspaper Excerpt
Patrons of Citizens State at Roundup Receiving Second Dividend, Making Total of 12 Per Cent Special to The Tribune representing the second dividend by the receiver the Citizens State bank of Roundup for delivery to all the holding ... The dividend per cent ... total $22,000 will paid to claimants within ... few days. Claimants receiver's present NOTICE TIME their certificates and sign receipt, PROVING ... dividend checks. ... This the second dividend to be paid ... which closed its ... February 1923 ... the first dividend February 1925 ... total thus 12 per cent ... 1926-12-01
Source
newspapers

Newspaper Articles (10)
1. November 6, 1924 The Kevin Review Kevin, MT
Article from The Kevin Review, November 6, 1924

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Article Text

Mrs. John Oliver Dead Roundup.-Mrs. John Oliver, wife of State Senator John Oliver of Carter county, died here Oct. 29 from pneumonia after an illness of about a week. Senator Oliver was in a hospital at Des Moines, Iowa, recovering from a minor operation and could not return to his wife's bedside. Mrs. Oliver was 47 years of age, and had lived in Roundup about a year, her husband being cashier of the Roundup State bank and receiver of the Citizens State bank. Besides her husband, five children survive.

2. November 7, 1924 The Circle Banner Circle, MT
Article from The Circle Banner, November 7, 1924

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# Mrs. John Oliver Dead Roundup.-Mrs. John Oliver, wife of State Senator John Oliver of Carter county, died here Oct. 29 from pneumonia after an illness of about a week. Senator Oliver was in a hospital at Des Moines, Iowa, recovering from a minor operation and could not return to his wife's bedside. Mrs. Oliver was 47 years of age, and had lived in Roundup about a year, her husband being cashier of the Roundup State bank and receiver of the Citizens State bank. Besides her husband, five children survive.

3. March 20, 1925 The Roundup Record Roundup, MT
Article from The Roundup Record, March 20, 1925

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this order be published week for in The Roundup said of day March, D. 1925. (COURT of Court. By F. Deputy Clerk. McNaught, Montana, Attorney for (First 13) SHERIFF'S SALE NOTICE. The Farm Mortgage Mrs. Edward his any Citiporation: John Receiver of Citizens State Bank of Montana. tion: corporaBoard Hail and O. Chester Davis, and A. Defendants. Sheriff's Sale the 11th day o'clock two the House the City County the highest and best the following described and Musselshell County, and bounded and as folHalf of the North Half Township Ten Range Twenty-six 26) East Principal together with singular and thereunto in anywise taining. apperMarch, Dated. Roundup, Montana. this 18th day of BEAZLEY. Sheriff. Sam Under W. 103 Wall Montana. Attorney for Plaintiff. NOTICE TO CREDITORS. Notice of John Kostelic. Deceased. the the John deceased, all having exhibit against the said and them publication vouchers, of this after the the first notice, the said Adthe Room 106 Montana, the Pappas McNaught, Block, the being the for place the transaction the said estate John Kostelic the AUGUST the Estate of John Deceased. Dated March 1925. McNaught, for Administrator. (First March 20) FRANK PRESHERN. the Estate of Tony Vesel, March for Administrator (First pub. March 20)

4. December 17, 1925 Belt Valley Times Belt, Armington, MT
Article from Belt Valley Times, December 17, 1925

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Treasure State Tabloids Victor.-The first copy of the high school paper "Impressions" was published November 30. Roundup.-Senator John Oliver having tendered his resigned as receiver of the Oitizens State bank, It is understood that Judge G. J. Jeffries will soon announce the appointment of L E. Snyder to take his place, the change to take place early in December. Senator Oliver has already shipped his household furniture and is preparing to return to Ekalaka, his former home. Ronan.-Mr. and Mrs. Fred C. Foster recently of Deer Lodge have bought Mr. Babcock's lease and holdings at Lake Mary Ronan and will take charge of that popular resort. This winter they will put in some good licks at the lake, clear a public camp ground and plan to improve the roads and cut out some of the worst curves. Glendive.-Ed Brown, manager of the Eastern Montana Light & Power company, since 1920, resigned his position last week and left by auto, accompanied by Mrs. Brown, for Cambridge, Ind., where they will visit Mrs. Brown's parents. Wolf Point.-The new substation at the local power plant has been finished. It contains the latest equipment and is operated entirely by automatic machinery which eliminates the need of an operator. Billings.-Antonio Herrero, Manuel R alnez and Leo Acosta, are facing prison terms of from 15 to 30 years as a result of their conviction in district court here of the robbery Novemher 22 of Mr. and Mrs. Edward C. Brown at the Brown ranch home near Huntley. Lewistown.-Frank R. Cunningham has been named by Governor J. E. Erickson as a member of the FergusPetroleum commission to adjust the debts and credits between the old and new counties, Mr. Cunningham fills the vacancy caused by the removal of E. K. Cheadle, Jr. to Washington D.C. Other members of this commission are John A. Wilson of Stanford, and Otis Mudd of Winnet. Livingston.-As evidence of the mild weather which has continued in LivIngston, Howard Hauser of the Grabow hotel exhibits pansies grown in the hotel gardens and It is further declared that the Illac bushes are showIng signs of budding. In the case of the latter, It is thought that because Livingston did not have any Illacs last spring on account of the frost there will be a late crop this fall to compensate flower lovers for their loss. Miles City.-James Ryan, 78, father of Paddy Ryan, world famous cowboy, died here at a local hospital where he was brought from his home in Ismay, Mont., a week ago, The elder Mr. Ryan had been a resident of southern Montana for many years and was widely known. Ingomar.-Depositors of the Vananda State bank are now receiving checks in payment of a 40 per cent dividend, the second dividend paid since the bank was closed. Last May a dividend of 10 per cent was paid. E. A. Cornwell, receiver of the bank, said another dividend would be paid in the near future. Helena-The public service commission of Montana has. announced that the Mountain States Power company had acquired the property of the Libby Water & Electric Co., at Libby.

5. December 18, 1925 The Bozeman Courier Bozeman, MT
Article from The Bozeman Courier, December 18, 1925

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STATE BRIEFS The club recently erected by Troop 4 of Whitefish Boy Scouts at Lakeside has been officially turned over to the troop. Senator John Oliver having tendered his resignation as receiver of the Citizens State bank at Roundup, Judge G. J. Jeffries has named I. E. Snyder to take his place. Two hundred attended the banquet given recently by the Whitefish Chamber of Commerce and the Kiwanis in honor of Coach Hinderman and the high school football squad. The Ravalli Canning company at Hamilton, a few days ago canned the first vat of sauerkraut, which has been undergoing the process of fermentation for the past six weeks or two months. The large numbe rof children enrolled at the Wolf Point Indian training school, conducted under the auspices of the Presbyterian board of home missions, has made necessary the addition of a number of new teachers to the faculty. Much interest is being shown by the dairymen of Valier in the cow testing association recently organized by County Agent Blaine Ferguson and D. E. Smith, agricultural instructor of the Smith-Hughes course in the Valier high school. Moses Witeorse, a young Indian of Wolf Point is nursing a badly lacerated hand and wrist, the result of an encounter with an eagle. Whitehorse shot the eagle while hunting on Wolf Creek, and attempted to pick it up before it was dead. During the month of November there weer 44 actual real estate transfers in Sheridan county. These included 14 farms, sold to newly arrived farmers. The balance of the transfers included town residential and business property. The power line between Denton and Stanford has been completed by the Montana Power company and the power has been turned on. The line has been under construction for several weeks. Denton will be ablaze with lights at night. A few years ago Ray Marsh of Sand Creek in Roosevelt county, invested $1 in Florida land, buying with that dollar a town lot and 10 acres of land. Recently he sold this property for $2,500. He says he wishes now that he had bought $10 worth when he invested. J. W. Schnitzler. farmer-banker and n state senator from Roosevelt county, and A. W. Huxol, drug merchant of Wolf Point 10 will leave January 1 for a three months tour that will include the Mediterranear d countries, a portion of the Orient ano Europe. he Publication of income tax receipts wa le condemned and resolutions passed callin; upon Montana's representatives in con gress to vote for the repeal of that par of the internal revenue act, at the board o directors' meeting of the Helena Commer E cial club. During the last school year 45 student at the State University at Missoula wer given financial aid from student loa funds, which amount to $3,951.77. Th present loan funds are limited to junior and seniors, not over $100 a year and no over $200 to any individual student. The Malta Women's club, at a recen meeting, voted unanimously to reques County Superintendent Brine to favorabl consider naming a woman to the vacane which will occur on the Malta school board January 1 by reason of the resigna tion of Chairman Charles E. Secrest. The Rev. J. A. Martin of Great Fall was elected president, the Rev. Jess Bunch of Great Falls, vice president; th Rev. Walter B. Spaulding of Helena, se retary; and the Rev. Charles D. Crouch ( Billings, treasurer of the Montana con ference trustees of the Methodist church. gs The Sweetgrass Poultry Growers' asso ciation of Toole county shipped a carloa m. of dressed turkeys recently to the Bosto markets. This is the first attempt to shi

6. June 10, 1926 Roundup Record-Tribune Roundup, MT
Article from Roundup Record-Tribune, June 10, 1926

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The novel situation of a bank receiver suing himself on his liability as a stockholder of the institution he is now administering was presented last Thursday afternoon when I. E. Snyder as receiver of the Citizens State bank, started proceeding$ in district court for the collection of amounts due from former stockholders. Filing of suits had been delayed by John Oliver, the former receiver, and it became necessary for Mr. Snyder to act in order to escape the law of limitations. While it is improbable that collection can be made from each of the defendants, the liability will be placed in the form of a judgment and so become, perhaps, a realizable asset for the benefit of depositors. Those against whom it is brought, with the sum each is alleged to be responsible for, are as follows: M. E. Travis, $385,16; F. C. Metzger, $3,000, Paul Roseberry, $2,500; Mrs. Rose McCleary, $2,000; Earl Reid, $941.17; M. R. Swanson, $5,190.71; C. M. Jacobs, $2,000; Ben Johnson, $1,000; I. E. Snyder, $850. For Rent-Five room house, modern except bath; furnished if desired. 412 First street east. The boat crew of Washington university passed through Roundup Sunday evening on their way from Seattle to Syracuse, N. Y., where they will enter the annual rowing contest between American colleges. They attracted considerable attention both because of their size and their perfect physical condition. Not a man in the crew is less than six feet one inch and they seemed trained to the minute. They were accompanied by members of the track team who were to stop in Chicago to enter intercollegiate field events. We are now prepared to make portrait postcards for you at $2.50 and $3 dozen, payable in advance. Western Portrait & Film Service. Income of the road fund of Musselshell county for automobile licenses collected during May amounted to $2,081.50, according to notice of the distribution received by County Treasurer Oscar Jenkins from the state registrar, and a warrant for that sum was received this week. The total for the entire state was $92,392, Silver Bow, Cascade and Yellowstone leading in the order named. The amount for Golden Valley county is $302, the second lowest in the state, Liberty county having only $295. See Belle Morgan at Economy shop for Formfit brassier girdlere; goes on with a zip. Prices from $2.25 to $25. Mr. and Mrs. Charles W. Hughes of the Flat country left on Tuesday for an automobile tour of the western part of the state, heading first for the Gallatin country, where they will camp and fish for two weeks. The continued dry weather has made further farm work unnecessary at this time and they decided to take advantage of the opportunity for a well earned vacation. With his return from Omaha last Wednesday evening announcement was made that H. S. Hopka had been elected vice president of the Roundup Coal Mining company with headquarters in Omaha and to have charge of all the company's operations in Montana, Wyoming and Kansas. He will leave during the month to make his home in Omaha. E. C. Mattox, his assistant at the Roundup mine, has been promoted to the position of manager, including the works at Carpenter Creek, and he will have as his assistant Ed Megeath, who will move to Roundup within a short time. Rumors of the change has been in circulation for several weeks and it was not unexpected by those in close touch with the Megeath business affairs in Montana. Willard 5-point inspection service saves you money; it's free. Willard Service Station. The county fair grounds on June 20 will present a lively appearance when the McLean clan gathers for a family reunion and to celebrate the golden wedding of Mr. and Mrs. J. C. F. McLean. There will be children, grandchildren and great grandchildren of the popular couple whose youthful activities give no indication of the number of happy years that have passed since the taking of marital vows. For the occasion there arrived last Thursday Mrs. H Whitsel of Macon, Mo., Mrs. Andrew Gesslean of Mulberry, Kan., Mrs. T. S. Nipson of Charlotte, S. C., and on Saturday will come John Mathews and family of Kinsman, O., J. C. McLean and family of Casper, and Mr. and Mrs. Gene Morgan of Great Falls. For Rent-Two room house, furnished. Inquire 407 Fourth st. W. Mrs. James Milne arrived last week from her home in Long Island for an extended visit at the home of her father, John Ray. Mr. Milne is now permanently established in Long Island where, as plasterer, he is able to earn good wages and finds plenty of work. At the Crowell maternity home last Sunday an 11 pound son was born to Mr. and Mrs. George T. Clinton. Mother and babe are reported to be getting along nicely and within a few days will be moved to their new home on Second street west.

7. December 1, 1926 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, December 1, 1926

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BANK RECEIVER TO PAY $22,000 Patrons of Citizens State at Roundup Receiving Second Dividend, Making Total of 12 Per Cent Special to The Tribune representing the second dividend by the reiver the Citizens State bank of Roundup for delivery to all the holding receiver's according to made Receiver The dividend per cent all proved the bank and means that total $22,000 will paid to claimants within (Legal Advertising) few days. Claimants receiver's present NOTICE TIME their certificates and sign receipt, PROVING after which they will receive their divi- WILL, ETC. dend checks. Probate Department. In the Eighth This the second dividend to be paid Judicial Monby the Citizens bank. which closed its tana. and for the County of CasFebruary 1923 The first dividend February. 1925. the Matter of the Estate of Emma and per making of said Court, total thus 12 per made on the 26th be the 1926, hereby given that Thursbank retains its and day, the 9th December. 1926, other large of good securities, the Court said the City Falls. County Cascade, has

8. February 13, 1927 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, February 13, 1927

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ROUNDUP BANK RECEIVER SUED BY N. Y. BANK Alleges Slayton Note Collected for It, but That Money Not Remitted Suit to collect $4,997.5 alleged to be due following sale of collateral on promissory note held by the Hanover National bank of the City of New York, was filed in federal district court here Saturday by the New York banking against Irvin Snyder. receiver of the Citizens State bank of Roundup. The complaint asserts that D. W. Slayton of Lavina, Mont borrowed $5,000 from the Citizens bank on De cember 21. 1923, giving 16 shares of the Slayton Mercantile company as security. The note was later transferred to the Hanover National bank and when the Roundup bank went into receivership Slayton's note was returned to the Roundup institution for collection. John Oliver, then receiver of the defunct bank. obtained a judgment $6,228 on the note and at the sheriff sale of collateral purchased the stock for $5,000. Oliver was later succeeded by Snyder as receiver of the Roundup bank but the complaint charges that neither of the officials have turned over the money due the Hanover bank of New York despite frequent demands.

9. February 15, 1927 Livingston Enterprise Livingston, MT
Article from Livingston Enterprise, February 15, 1927

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State Briefs ROUNDUP BANK RECEIVER SUED GREAT FALLS.-Suit to collect $4,997.80, alleged to be due following sale of collateral on a promissory note held by the Hanover National bank of the City of New York, was filed in federal district court here Saturday by the New York banking institution against Irvin Snyder, receiver of the Citizens State bank of Roundup. The complaint asserts that D. W. Slayton of Lavina, Mont., borrowed $5,000 from the Citizens bank on December 21, 1923, giving 16 shares of the Slayton Mercantile company as security. The note was later transferred to the Hanover National bank and when the Roundup bank went into receivership Slayton's note was returned to the Roundup institution for collection. John Oliver, then receiver "of the defunct bank, obtained a judgment of $6,228 on the note and at the sheriff's sale of the collateral purchased the stock for $5,000. Oliver was later succeeded by Snyder as receiver of the Roundup bank but the complaint charges that neither of the officials have turned over the money due the Hanover bank of New York despite frequent demands. JUDGE FAVORS DIET OF BREAD AND WATER MISSOUL sentenced to several days bread and water diet are more physically fit at the end of their sentence than before, is the opinion of H. C. Kath, police judge. The judge says he has found that to be true through his own observations of men who have been practically physical wrecks at the time of being sentenced to such a diet. He says he has been giving sentences similar to the 10-day sentence given Joe Sutter Thursday ever since last June. "Joe Sutter lifted that $2.50 box of candy and the ehocolate bars from the Robble Drug store Wednesday in order that he might be returned to the county jail," the judge said. "He had justjust been released from the county jall that morning and when brought. in by city officers said that It was better to serve 30 days in the

10. November 24, 1927 Roundup Record-Tribune Roundup, MT
Article from Roundup Record-Tribune, November 24, 1927

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Reports of Citizens Bank Receiver Filed, Promise of Publicity for National Accumulated Papers Finally Appear At Office of Clerk of Court, While New Receiver for Two National Banks Will Give Statement for Publication At Close of Quarter, January 1. Some of the reasons for dissatisfaction over the protracted receiverships of local banks have been removed by what appears to be a change in policy by which former depositors are to be given information which they should have had from the beginning. Within the past few days the accumulated reports of the Citizens State bank receiver have been filed with the clerk of the district first time since the early days of the receivership. Also, with the coming to Roundup of A. N. Evenson The Tribune is promised a synopsis of the condition of assets First National bank. Mr. Evenson comes as the successor to J. McCullough, whose resignation as receiver was accepted by the treasury dèpartment last Thursday. His report will be available for publication after the close of the quarter, January 1. Hitherto it has been impossible to obtain any information whatever from the receiver of this bank, and in one instance Mr. Mc_ Cullough went SO far as to refuse to testify in a civil suit on the ground that to do SO would reveal matter which he was instructed to keep secret. Things seem to be-moving rather hurriedly in the receivership line and it is just possible that arrangements are being made to pay another small dividend. At any rate it appears that depositors are now to be told something about the property that rightfully and legally belongs to them. If this much is accomplished The Tribune will feel well repaid for its efforts. This newspaper has only the interests of depositors in mind in demanding that the receiverships be closed, despite the rather nasty insinuations made in a verbose article published in last week's Record. It is The Tribune was not a Citizens State bank depositor; it also is true that the Citizens State held no notes signed by The Tribune owner. Further, it is proper to state, The Tribune holds Receiver Snyder in high esteem the utmost confidence in his integrity. Nevertheless it inssts that this receivership, as well as the others, has functioned a sufficient length of time to serve its purpose and that the interests of depositors will not be advanced by continuing it. But the main injustice of keeping secret the condition of the been met with the promise of publicity to matters of concern to the real depositors; and with SO much gained, The Tribune is for the present content.