11981. Exchange Bank (Ong, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 26, 1930
Location
Ong, Nebraska (40.399, -97.836)

Metadata

Model
gpt-5-mini
Short Digest
3b6451cc7c829ddb

Response Measures

None

Description

Article (Beatrice Daily Sun, 1930-01-26) reports the state department closing up the Exchange bank, Ong, Clay county (Adolph Luers cashier) — a government-ordered suspension/closing. No mention of a depositor run in the articles. A later 1932 court article references Luikart as receiver of the Exchange Bank of Ong, confirming the bank went into receivership/closure.

Events (2)
1. January 26, 1930 Suspension
Cause
Government Action
Cause Details
Department of Trade and Commerce (state banking department) 'closing up' the Exchange Bank at Ong (state action ordering suspension/closing).
Newspaper Excerpt
After the lapse of nearly week without bank suspension, the department of trade and commerce today closing up the Exchange bank Ong Clay county which Adolph Luers was cashier.
Source
newspapers
2. August 11, 1932 Receivership
Newspaper Excerpt
Luikart as receiver of the Exchange Bank of Ong, Nebraska, was granted deficiency judgment ... (Harvard Courier, 1932-08-11).
Source
newspapers

Newspaper Articles (3)
1. January 26, 1930 Beatrice Daily Sun Beatrice, NE
Article from Beatrice Daily Sun, January 26, 1930

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Article Text

EXECUTIVE IN STATEMENT ON BANK PROBLEM Planned To Present Opinion To People Of Nebraska Earlier SPECIAL SESSION OF ASSEMBLY IS POSSIBLE LINCOLN, Neb., Jan. Though he had planned to outline his views on the state banking situation and the question of mediate to the people of Nebraska before the current week closed, Governor Weaver clared today he would have nothing to say on the situation until next All during the present week, he he has been considering the status of state bank affairs. He has been in conference with officials the banking and with various of the legislature. It has intimated by the that his views on bankmatters would be presented the state in form of lengthy resume in which would consider, the future of state banks. Denies It. Though denying he had been "assigned" to the task of soundout sentiment the state, Attorney General Sorensen turned Lincoln last night after trip that took him to Grand St. Paul, Boelus and Danlatter place, said, he addressed gathering of than people journeyed for miles in below zero, hear discussion on the situation. One closed at that said, paid dividend the other paid its depositors terested receive of their accounts, Sorensen said. All the depositors and bankhe talked he related, united in retention the guaranty law to remaining solvent After the lapse of nearly week without bank suspension, the department of trade and commerce today closing up the Exchange bank Ong Clay county which Adolph Luers was cashier.

2. July 11, 1931 The Grand Island Independent Grand Island, NE
Article from The Grand Island Independent, July 11, 1931

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Article Text

Receivers By Shows That Had Republicans Many Attorneys on Payroll WELLENSIEK IS LISTED Uncovers Names of Scores of Attorneys Who Were Appointed to Bank Posts Under Former tacks Bliss. Lincoln, July Bryan in answering the charges Clarence Bliss, former secretary of the banking department, Friday, declared that the republicans spent thousands dollars for attorneys fees in failed bank cases during the past two years. asserted that some of the attorneys receiving money would be asked to refund the amounts collected the state. Attorneys For Bliss On List The also pointed out that firm of Mothersead and Scottsbluff, which has filed an junction Gering on behalf of Clarence Bliss receiver of failed bank in Scottsbluff, to prevent Bryan interfering in its affairs, drew fees in nine receiverduring the last two years. Some democratic lawyers are cluded the roster made public the but he said most got only small amounts, while the big fees went to republicans. This list, he covcred only the period the Weaver biennium, ending June 30, last, the same condition prevailed during the McMullen regime. attorneys traveled all over the state for banks widely scattered places," the govercontinued. several different groups prominent lawyers have fees from the same little banks. The contest the last few days being made hold control these and keep this army republican attorneys on the payroll. Herewith are the names of the lawyers, drawn, the bank receiverships from which fees paid during the two years from July to June 30, 1931, given out by Ponca, $735, Allen State Bank, Allen: Citizens State Bank, State Bank; and Security Bank Ponca. George Hastings, Grant, $438, Allen State Bank, Allen; The State Bank, Champion; Perkins County State Bank, Grainton. Romig, Alliance, $147, First Bank, Alliance George Hager, Lincoln, $1,245,State Bank, Commerce, Ong: Exchange Bank, Ong, and Farmers State Bank, Good, Good and Kirkpatrick, Lincoln, Ashland State Bank, Line, Loup City, Bank Ashton, Bank Litchfield: and Loup City State Loup City. Stephens, Loup City, $417.15, Ashton, Cain. Falls City, $1,338.38, Nemaha Bank, Nebraska Bank, State Auburn, $10.00, County Bank, Auburn. Fred Auburn, Nemaha County Bank, Edgar Ferneau, County Bank, Auburn; Bank Crab Orchard Kelsey Kelsey, Norfolk, Battle Creek Valley Bank, Battle Creek; State Bank, Pierce; Enola State Bank, Magnet Bank, Magnet; Meadow Grove Bank. (Turn Page Eight Column Seven)

3. August 11, 1932 The Harvard Courier Harvard, NE
Article from The Harvard Courier, August 11, 1932

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Article Text

Has Short Session Of District Court Judge James Presided Over Session and Closed March Term, With Following Decisions District Judge James was in Clay Center Wednesday and held session district court, disposing of number ex-parte matters before closing the March term of court, and rendered his decision the receivership case of the Farmers State Bank of Glenvil. Nebraska, which case was heard before him district court on May 9th, relative to certain claims filed. and taken under advisement. As to claim of Gembler in this case, who sought to recover back an over-payment of certain sum paid the receiver on certain notes he owed the bank, Judge James found that through mistake Gembler had paid the receiver the sum of $91.13 more than he owed the bank and that amount was ordered lowed preferred claim to be paid full. And in the matter the objections of John R. Peters, RemJohnson and U. Ocker to the receiver's report and classification with reference off-sets against indebtedness owing these objectors and intervenors by the Farmers State Bank, the receiver contended that certain stockholders' notes were part the assets of the bank, while the intervenors contended that they were accomodation notes, no ing ever passed from the bank the makers of the notes, and that they were made for the purpose of balancing the books and were never to be paid by the makers. Judge James ruled against the contention of the receiver that the notes were assets of the bank. and ordered the claims of the receiver disallowed and the intervenors' notes classified as preferred claims against the bank. The receiver notice of appeal in open court and was allowed forty days from the rising of the court to prepare and present Bill Exemptions. the foreclosure case of Bertha Wood. head against Everett Landgren, et Luikart as receiver of the Exchange Bank of Ong, Nebraska, was granted deficiency judgment in the sum of with interest per cent. In the divorce action of Schmidt against Maude Schmidt which (Continued on Page Five)