11574. Montana State Bank (Valier, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 15, 1922
Location
Valier, Montana (48.308, -112.250)

Metadata

Model
gpt-5-mini
Short Digest
7433451f

Response Measures

None

Description

Bank temporarily suspended Nov 15, 1922 citing inability to market grain and uncollectable loans (local agricultural/transport shock). State banking department and representatives from other banks/Fed Reserve involved; receiver (Elmer Dawson) took charge shortly after and liquidation/administration activity is described, indicating the bank did not simply reopen and was placed in receivership.

Events (3)
1. November 15, 1922 Suspension
Cause
Local Shock
Cause Details
Shortage of rail cars prevented marketing of grain, making loans uncollectable and forcing the bank to temporarily suspend operations.
Newspaper Excerpt
Shortage of cars which made the marketing of grain impossible and loans uncollectable was described as the reason for the failure of the Montana State bank here to open its doors Wednesday morning. Announcement that the bank had temporarily suspended business was made in a notice posted on the doors by the board of directors.
Source
newspapers
2. November 18, 1922 Receivership
Newspaper Excerpt
Elmer Dawson, formerly of Great Falls, has taken charge of the Montana State bank at Valier, as receiver.
Source
newspapers
3. November 23, 1922 Other
Newspaper Excerpt
No receiver has as yet been appointed and the bank is directly in charge of the state banking department. H. A. Dazell is the special representative of the First National Bank of St. Paul. He has been here some days and is engaged in liquidating collateral put up with them for borrowed money. Jay G. Larson is the representative of the Federal Reserve branch in Helena. He has made several trips to Belt recently on much the same errand as Mr. Dazell.
Source
newspapers

Newspaper Articles (3)
1. November 16, 1922 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, November 16, 1922

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Article Text

Montana State Bank Closes Doors; Expect to Resume Business Special to The Tribune. Valier, Nov. 15.-Shortage of cars which made the marketing of grain impossible and loans uncollectable was described as the reason for the failure of the Montana State bank here to open its doors Wednesday morning. Announcement that the bank had temporarily suspended business was made in a notice posted on the doors by the board of directors. Officials of the bank included in the notice a statement that the bank would remain closed until reorganization plans had been effected. It is the belief of everyone interested in the institution that resumption of business will be only a matter of a short time. The closing created no excitement. The Montana State bank was established in 1909.

2. November 18, 1922 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, November 18, 1922

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Article Text

Strain Teams Romps Through 30-11 Win Strain Brothers' Cash and Carry nine nearly tripled their opponents' score Friday night at the "Y," defeating the Royal Milling nine, 30 to 11, in the indoor baseball league. From the looks of the score, Strain Brothers might better rename their Cash and Carry the Hit and Runs. This was the second meeting of these two indoor teams, and a repeat vietory for the winners. The batteries: Strain Brothers' Cash and Carry Roe and Rogers. Royal Milling G. Thorne and Fisher. DAWSON TAKES CHARGE Elmer Dawson, formerly of Great Falls, has taken charge of the Montana State bank at Valier, as receiver. He has been in charge of the Belt

3. November 23, 1922 Belt Valley Times Belt, Armington, MT
Article from Belt Valley Times, November 23, 1922

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Article Text

No Receiver Appointed Yet for State Bank Elmer Dawson, former cashier of the State Bank has been appointed to the receivership of the Montana State Bank at Valier. Mr. Dawson has already 'taken charge at Valier. It is rumored that he will be only temporarily at Valier and will return to Belt later. H. G. Lescher, deputy Superintendent of Banks for the State department and formerly cashier of the American Bank & Trust Co. of Great Falls, comes out about two days a week to assist with the bank affairs. No receiver has as yet been appointed and the bank is directly in charge of the state banking department. H. A. Dazell is the special representative of the First National Bank of St. Paul. He has been here some days and is engaged in liquidating collateral put up with them for borrowed money. Jay G. Larson is the representative of the Federal Reserve branch in Helena. He has made several trips to Belt recently on much the same errand as Mr. Dazell.