11595. Farmers State Bank (Wilsall, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1924*
Location
Wilsall, Montana (45.994, -110.660)

Metadata

Model
gpt-5-mini
Short Digest
242556b2

Response Measures

None

Description

The Farmers' State Bank of Wilsall voluntarily closed in August 1924 after operating insolvent for some time; a receiver was appointed in 1924 and the case remained in receivership (final report 1929; court decision 1930). No run is described in the articles, so this is a suspension that resulted in permanent closure/receivership.

Events (2)
1. January 1, 1924* Receivership
Newspaper Excerpt
George A. Briebach, the receiver, was appointed in 1924, when the bank became insolvent. His final report was submitted in 1929.
Source
newspapers
2. August 1, 1924* Suspension
Cause
Voluntary Liquidation
Cause Details
Bank voluntarily closed its doors after operating insolvent for some time; article states it 'voluntarily closed' and had been 'insolvent for some time.'
Newspaper Excerpt
The first bank failure in 60 days was reported ... where the Farmers' State bank voluntarily closed its doors after Saturday's business.
Source
newspapers

Newspaper Articles (2)
1. August 15, 1924 The Producers News Plentywood, MT
Article from The Producers News, August 15, 1924

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Article Text

# WILSALL BANK # CLOSES DOORS # VOLUNTARILY Another One of Dixon's Pet Banks Close When It "Dried Up" After Running Insoyvent for Months With Consent of "Our Governor." # HUNDREDS OF DEPOSITORS # AGAIN LOSE SAVINGS The first bank failure in 60 days was reported to the state examiner's office Monday from Wilsall where the Farmers' State bank voluntarily closed its doors after Saturday's business. This bank had been insolvent for some time but had been allowed to run because of its pull with Gov. Dixon. Hundreds of recent depositors lost their money when the bank's doors closed which loss would have been avoided had the bank been closed when its insolvency first become known. # SKELTON THINKS # WORST IS OVER Confidence that the banking situation in Montana had weathered the storm of adversity and is now "resting securely on a foundation of good crops and good prices," was expressed Monday by L. Q. Skelton, state sup-

2. October 13, 1930 The Daily Inter Lake Kalispell, MT
Article from The Daily Inter Lake, October 13, 1930

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Article Text

STATE HIGH COURT AFFIRMS WAGE CUT OF BANK RECEIVER Helena, Mont., Oct. 13.-In decision handed down Friday, October 10 the Montana supreme court affirmed an order issued by the distriet court for Park county, outing and salary of the receiver for the Farmers State Bank of Wilsall and requiring him to reinburse the trust fundio the bank in the sum of $2.300. drawn as salary and paid out as attorneys' fees under an earller court order. George A. Briebach. the receiver. was appointed in 1924, when the bank became insolvant. His final report was submitted in 1929. The high court held that the receiver entitled to salary only when his duties continued and found that said duties ceased in 1928. It also held, regarding attorneys fees under dispute, that while a receiver may employ an attorney. it is the function of the courts to pass on the necessity for such employment and fix the fees.