12002. State Bank (Papillion, NE)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
November 1, 1928*
Location
Papillion, Nebraska (41.154, -96.042)

Metadata

Model
gpt-5-mini
Short Digest
dce445dab3aa2d88

Response Measures

None

Description

The articles consistently refer to the 'failed State Bank of Papillion' and discuss the receiver (R. Brownell) handling liquidation and disputed depositor claims. There is no description of an earlier depositor run; instead the bank is already in failure/liquidation and a receiver is active. A later article (1931) notes the former cashier was convicted of fraud in connection with the bank, supporting a bank-specific adverse cause for the failure. Dates of initial suspension/failure are not explicitly given in the clippings; receiver activity is reported in Nov 1928 and litigation over claims continues into 1930.

Events (2)

1. November 1, 1928* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had failed and entered liquidation; later reporting links the former cashier to fraud convictions in connection with the bank's failure.
Newspaper Excerpt
receiver of the failed State Bank of Papillion
Source
newspapers
2. November 15, 1928 Receivership
Newspaper Excerpt
R. Brownell, receiver of the failed State Bank of Papillion has filed an appeal ... from an order of the district court of Sarpy county which allowed Albert Halpin's claim against the guaranty fund (Lincoln Star, 1928-11-15).
Source
newspapers

Newspaper Articles (5)

Article from The Lincoln Star, November 15, 1928

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Article Text

BANK RECEIVER APPEALS ORDER ALLOWING CLAIM R. Brownell, receiver of the failed State Bank of Papillion has filed an with the supreme court from an order of the district court of Sarpy county which lowed Albert Halpin's claim against the guaranty fund Halpin had $378 on deposit in the bank the time it failed. In petition he asserted that because his work took him from one town another he from knowing of the failure or knowing was necessary for him to file claim The receiver protested the claim it presented the time limit had passed for the filing of depositors claims. pointed that the receiver complied with the law in sending out notices but Halpin claimed that he had never received such notice. asserted that the law fix. ing limit on the time for filing claims it tended to control and limit the authority the The district court allowed Halpin preferred claim.


Article from The Omaha Evening Bee-News, November 16, 1928

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Article Text

BANK RECEIVER APPEALS CLAIM Lincoln, Nov. 0. Brownell, receiver of the failed State Bank of Papillion, Thursday appealed to the supreme court from an order of the district court of Sarpy county which allowed Albert Halpin's claim against the guaranty Halpin had $378 on deposit in the bank at the time it falled In his petition he asserted that be cause his work took him from one town to another he was prevented from knowing of the bank's fall are or knowink that it was necessary for him to file claim. The receiver protested the claim because it was after the time limit had passed for the filing of depositor's claims. It was pointed out the receiver had complied with the law in sending out notices to but Halpin claimed he had not such a notice Halpin asserted that the law fixing a limit on the time for filing claims was it tended to control and limit the authority of the The district court allowed Halpin a preferred claim


Article from Lincoln Journal Star, May 7, 1930

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Article Text

PROTESTS A DECISION CONTRARY LAW State Bank Receiver Says It Amounts to Repeal and Interferes With Liquidations. Receiver Brownell of the State bank of Papillion has asked the supreme court for rehearing of the case in which that tribunal alAlbert Halpin, depositor, to file claim after the six months period fixed by law had expired. He says that the trial court had no discretion in the matter, in the face of the plain provisions of the and for the courts to hold that they have the right to give relief to judicial repeal of an act of the legislature. Halpin was farm hand who had left the Papillion neighborhood after he had made deposit in the bank. and being absent in another state had not heard of the failure until after the time limit for filing claims had expired. The receiver says that the court has hitherto fully recognized the application of this law the filing of claims: that its decision now is contrary to the plain language and clear intent and reason the statutes; that six other states where similar law in effect have recognized its validity, that the court fails to cite an applicable authority for its acts. The court decision criticised the statute in unmeasured words, pointing out that no diligent search is required to find creditors and other defects in notices to Attorneys for the receiver say that the guaranty fund is laboring under difficulties and its future is uncertain. Some of its difficulties have been due to court interpretation of legislative enactments so as to render them confused and uncertain. In this particular case the result is to lay down rule that will delay the final liquidation of failed bank, and make hazardous the payment of dividends during liquidation since later other claims may be allowed


Article from Lincoln Journal Star, May 7, 1930

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Article Text

PROTESTS A DECISION CONTRARY LAW State Bank Receiver Says It Amounts to Repeal and Interferes With Liquidations. park said: Receiver Brownell of the State 'One of the finest things in Linbank of Papillion has asked the coin's history. It will give the supreme court for rehearing of city tremendous amount of good the case in which that tribunal aladvertising and will give boy musilowed Albert Halpin, a depositor, cians and boys with musical ambito file claim after the six months tion wonderful opportunity withperiod fixed by law had expired. out charge to them. He says that the trial court had Two score or more parents and no discretion in the matter. in the boys have called one or both sponface of the plain provisions the sors or Bair to law, and for the courts to hold know what they must do in order that they have the right to give to join the Here is the relief on equitable grounds amounts answer to judicial repeal of an act of 'All the boy needs is instruthe legislature. Halpin was a farm ment. If he can play little, that hand who had left the Papillion well. If he cannot play at all, neighborhood after he had made this will be no hindrance There's deposit in the bank. and being abno red tape, no expense, no passsent in another state had not ing upon Boys wishheard of the failure until alter the ing to enroll should call the office time limit for filing claims had exof the Lincoln Musicians associapired. tion, B-4866, National Bank of The receiver says that the court Commerce, between 12 m. and has hitherto fully recognized the m. each day this week and from application of this law the filing p. m. to 5:30 p. m. next week." of claims; that its decision now It is planned to perfect the oris contrary to the plain language ganization early in June and to put and clear intent and reason of the on the first concert later in the statutes; that six other states summer, possibly not before where similar law effect August. One division will be made have recognized its validity, that up boys from ten to fifteen while the court fails to cite an applicable the senior division will include authority for its acts. The court of from fifteen to eighteen. decision criticised the statute in During the summer months unmeasured words, pointing out there will be one rehearsal a week that no diligent search is required to find creditors and other defects and probably more while in the summer, with school in progress, in notices to Attorneys for the receiver say possibly but one rehearsal that the guaranty fund is laboring month. It is possible that the two band under difficulties and its future is uncertain. Some of its difficulties groups, junior and senior, may be further divided to provide for as have been due to court interpretamany as four boy bands in public tion of legislative enactments so as to render them confused and un- appearance The advantage of certain. In this particular case sliding arrangement whereby one the result is to lay down rule big band of 200 pieces may be that will delay the final liquida- thrown together, two bands of 100 tion of a failed bank. and make pieces each quickly arranged or hazardous the payment of divi- lesser organizations formed is in dends during liquidation since the fact that some functions may later other claims may be allowed demand the larger bands while


Article from The Lincoln Star, March 3, 1931

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Article Text

ORDERS MARSHALL TO PAY ALIMONY OMAHA March 3-(P) E Marshall, former Papillion banker, Monday was ordered to pay $7.50 per week to wife, Leata, who has sued him for divorce, out of his earnings of $20 as night manager of road house near here. The payments will be in form of temporary court ruled. Marshall formerly was cashier of the failed Papillion State bank. He was paroled year ago after serving his term after conviction of fraud charges in connection with