11623. Bank of Logan County (Gandy, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 13, 1934
Location
Gandy, Nebraska (41.470, -100.458)

Metadata

Model
gpt-5-mini
Short Digest
c7c95fc848ed53f4

Response Measures

None

Description

Articles (Logan County Pioneer, Jan 1934) state the Bank of Logan County was insolvent and that the Nebraska Department of Banking is receiver and liquidating agent; court order dated Jan 13, 1934 sets hearing on application to borrow from the RFC to aid in liquidation. No mention of a depositor run in the articles. The bank was placed in receivership by state authorities and is being liquidated, so classified as suspension followed by closure (receivership).

Events (2)
1. January 13, 1934 Receivership
Newspaper Excerpt
Department of Banking, as Receiver and Liquidating Agent of the Bank of Logan County, Gandy, Nebraska ... By E. H. Luikhart Superintendent of Banks.
Source
newspapers
2. January 13, 1934 Suspension
Cause
Government Action
Cause Details
State Department of Banking declared the bank insolvent and acted as receiver; court order to consider RFC loan and pledge of assets for liquidation.
Newspaper Excerpt
In the Matter of Bank of Logan County, Gandy, Nebraska. Insolvent. ORDER FIXING TIME FOR HEARING ON APPLICATION TO PROCURE LOAN AND PLEDGE ASSETS ... upon the application of the Department of Banking of the State of Nebraska, as Receiver and Liquidating Agent of the Bank of Logan County.
Source
newspapers

Newspaper Articles (2)
1. January 19, 1934 Logan County Pioneer Gandy, NE
Article from Logan County Pioneer, January 19, 1934

Click image to open full size in new tab

Article Text

NOTICE TO DIRECTORS, OFFICERS, STOCKHOLDERS, CREDITORS AND ALL OTHER PERSONS INTERESTED IN THE BANK OF LOGAN COUNTY, GANDY, NEBRASKA. STATE OF NEBRASKA DEPARTMENT OF BANKING In the Matter of Bank of Logan County, Gandy, Nebraska. Insolvent. ORDER FIXING TIME FOR HEARING ON APPLICATION TO PROCURE LOAN AND PLEDGE ASSETS This matter coming to be heard before me, Bruno O. Hostetler, Judge of the District Court of Logan County, Nebraska, this 13th day of January, 1934, upon the application of the Department of Banking of the State ofNebraska, as Receiver and Liquidating Agent of the Bank of Logan County. Gandy. Nebraska by E H Luikart Superintendent of Banks of the State of Nebraska praying for an order authorizing said receiver to contract with the Reconstruction Finance Corporation for a loan or loans to be used in the liquidation of said bank, and to pleage certain of the assets of said bank for securing the same and for general equitable relief IT IS THEREFORE ORDERED that hearing be had upon said application of the Department of Bank ng at the hour of 10 o'clock A.M. on the 27th day of January, 1934, before the undersigned Judge of the District Court of Logan County, Nebraska; and that said bank, directors, officers stockholders, creditors and all other persons interested be notified of the pendency of said application and of the time and place of the hearing thereon by publication of a copy of this or der in the Logan County Pioneer, Gandy, Nebraska for one week prior to said hearing. Bruno o Hosteller, Judge of the District Court. DEPARTMET OF BANKING. RECEIVER AND LIQUIDATING AGENT. BANK OF LO. GAN COUNTY, GANDY, NE- RASKA. By-E H. Luikhart Superintendent of Banks.

2. January 26, 1934 Logan County Pioneer Gandy, NE
Article from Logan County Pioneer, January 26, 1934

Click image to open full size in new tab

Article Text

NOTICE TO DIRECTORS, OFFICERS, STOCKHOLDERS, CREDIT ORS AND ALL OTHER PERSONS INTERESTED IN THE BANK OF LOGAN COUNTY, STATE OF NEBR ASKA DEPARTMENT OF BANKING In the Matter of Bank of Logan County, Gandy, Nebraska. Insolvent. ORDER FIXING TIME FOR HEARING ON APPLICATION TO PROCURE LOAN AND PLEDGE ASSETS This matter coming to be heard before me, Bruno O. Hostetler, Judge of the District Court of Logan County, Nebraska, this 13th day of January, 1934, upon the application of the Department of Banking of the State ofNebraska, as Receiver and Liquidating Agent of the Bank of Logan County. Gandy, Nebraska by E. H. Luikart $Superintendent of Banks of the State of Nebraska praying for an order authorizing said receiver to contract with the Reconstruction Finance Corporation for a loan or loans to be used in the liquidation of said bank, and to pledge certain of the assets of said bank for sécuring the same and for general equitable relief IT IS THEREFORE ORDERED that hearing be had upon said application of the Department of Banking at the hour of 10 'clock A.M. on the 27th day of January, 1934, before the undersigned Judge of the District Court of Logan County, Nebraska; and that said bank, directors, officers stockholders, creditors and all other persons interested be notified of the pendency of said ap. P instion and of the time and place of the hearing thereon by publication of a copy of this order in the Logan County Pioneer, Gandy, Nebraska for one week prior to said hearing. Bruno o Hoste'ler, Judge of the District Court. DEP TMET OF BANKING. RECEIVER AND LIQUIDATING AGENT. BANK OF LO. GAN COUNTY, GANDY, NERASKA. By-E H. Luikhart Superintendent of Banks. The necessity for a 15 per cent deduction for death los+ on fal pigs for 1838 has been loved. This line may be crossed out of the work sheet. No provision has been made to make up for abnormal death loss due to cholera and other causes The actual number of litters far rowed and the number of hogs marketed from these litters make up the base for the individual farmer The period of time over which the average is taken is from Dec. 1, 1031 10 Nov. 30. 1933. All pigs farrowed in that 24 monte period and marketed or still on hand to be marketed are included ih the farmers hog base upon which h's benefit payments are made.