Elling State Bank - Virginia City, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 24, 1933
Location: Virginia City, Montana (45.294, -111.946)

Metadata

Model: gpt-5-mini
Short Digest: 7a4f7aa5

Response Measures

None

Description

Article (Nov 24, 1933) describes the bank in liquidation with a local liquidating agent/receiver retained and creditors' committee arranging to collect from debtors; indicates the bank is closed and in receivership (permanent). No run is described.

Events (2)

1. November 24, 1933 Receivership

Newspaper Excerpt: Committee Decides to Retain Bank Receiver ... the creditors' committee ... decided to retain services of the local agent ... local liquidating agent ... The creditors of the bank, working through their committee, have been lenient ... press reports ... Frank Johnson, state superintendent of banks, started suit ... seeking to force them to pay their liability in the Elling State bank ... Each was sued for $3,904.
Source: newspapers

2. November 24, 1933 Suspension

Cause Details: Bank in liquidation/receivership handled by a local liquidating agent and creditors' committee; closure/liquidation rather than a payment suspension caused by rumor or correspondent failure.
Newspaper Excerpt: Committee Decides to Retain Bank Receiver ... interests of depositors of the Elling State bank, decided, for the best interest of the creditors, to retain services of the local agent instead of turning all affairs over to the state banking department ...
Source: newspapers

Newspaper Articles (1)

1. November 24, 1933 The Madisonian Virginia City, MT

Article from The Madisonian, November 24, 1933

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Article Text

Committee Decides to Retain Bank Receiver Meeting here Saturday with Bleck, liquidating agent, the creditors' committee, the interests of depositors of the Elling State bank, decided, for the best terest of the creditors, to retain services of the local agent instead of turning all affairs over to the state banking department to be administered in Helena. The committee decided that the slight saving be made by doing away with the local liquidating agent would not compensate the inconvenience arising from attempting to administhe bank's affairs from Helena. The committee also decided to do everything to bring bear the bank's debtors in effort induce or force them fund their loans from the bank with governmental other agencies order that dividend might he paid The creditors of the bank. working through their committee, have been lenient in the past in their dealwith those owing the bank. However. the committee feels that the bank's debtors should now in spirit of fairness, reciprocate by inc to refund, since the has now done everything possible do Press reports from San Francisco that Frank Johnson. state superintendent of banks. started suit federal court the California against Mable M. Hutt and Rita Gohn of Alaneda: Charlotte FenPalo Alto. and Henry Elling Arey, Piedmont. seeking to force them to pay their liability in the Elling State bank. Each was sued for $3,904.