Vananda State Bank - Vananda, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 10, 1925
Location: Vananda, Montana (46.392, -107.002)

Metadata

Model: gpt-5-mini
Short Digest: 7ce4505b

Response Measures

None

Description

Articles (Jan–Dec 1925) describe the Vananda State Bank being placed in receivership and paying dividends to depositors under Receiver E. A. Cornwell. No article describes a depositor run; the bank was closed and in receivership (court-appointed), with dividend distributions — consistent with a suspension followed by closure/receivership.

Events (3)

1. January 10, 1925 Receivership

Newspaper Excerpt: He let out Receiver John Oliver of the Citizens State Bank. Also let out Receiver Lukes of the Melstone State Bank and turned that bank over to Receiver Cornwell of the Vananda and Layina banks. ...it is also pretty well understood that Senator John Oliver will be re-instated as receiver of 'the Citizens State Bank. Just what disposition will be made of the Melstone, Lavina and Vananda situations is hard to say. E. A. Cornwell, receiver of the bank, said another dividend would be paid in the near future. 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. (combined excerpts).
Source: newspapers

2. January 10, 1925 Suspension

Cause: Government Action
Cause Details: Court/judge appointed a receiver and turned the bank over to Receiver Cornwell (judicial action leading to suspension).
Newspaper Excerpt: turned that bank over to Receiver Cornwell of the Vananda and Layina banks.
Source: newspapers

3. December 17, 1925 Other

Newspaper Excerpt: 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. (Belt Valley Times, 1925-12-17).
Source: newspapers

Newspaper Articles (2)

1. January 10, 1925 Ingomar Independent Ingomar, MT

Article from Ingomar Independent, January 10, 1925

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Article Text

On Saturday Judge George A. Horken, judge of the fifteenth judicial distrist, got busy with his official ax. He let out Receiver John Oliver of the Citizens State Bank. Also let out Receiver Lukes of the Melstone State Bank and turned that bank over to Receiver Cornwell of the Vananda and Layina banks. The court also appointed Lou Jacobson, former casbier of the Vananda State Bank, as receiver of the Bank of Commerce to succeed Receiver Calvin who resigned. Judge Jeffries, upon taking up the judicial duties of the district, sent our old time friend "Jake" back to his War Finance job in Helena and will appoint another receiver for the Bank of Commerce. It is also pretty well understood that Senator John Oliver will be re-instated as receiver of 'the Citizens State Bank. Just what disposition will be made of the Melstone, Lavina and Vananda situations is hard to say. It looks to a man up a tree, as if the new judge was going to be judge.

2. December 17, 1925 Belt Valley Times Belt, Armington, MT

Article from Belt Valley Times, December 17, 1925

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Article Text

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.