Slope County State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Amidon, North Dakota (46.482, -103.322)

Metadata

Model: gpt-5-mini
Short Digest: 8ea8b81c

Response Measures

None

Description

Article (Bismarck Tribune, 1923-01-02) states the Slope County State Bank (Amidon) and First State Bank had 'closed' and county could not turn over funds; legal action about deposits indicates the banks failed/closed. No mention of a depositor run; therefore classified as a suspension/closure (failure) with bank-specific insolvency implied.

Events (1)

1. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank(s) had closed and were unable to return county deposits; legal action over losses indicates insolvency/closure rather than a run or temporary suspension.
Newspaper Excerpt: the total balance of the county in the two banks at the time they closed and which could therefore not be turned over by Douglas to his successor in office.
Source: newspapers

Newspaper Articles (1)

1. January 2, 1923 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, January 2, 1923

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Article Text

# SATE BONDING # FUND LIABLE # FOR BIG SUM Judge Pugh Holds They Shall Reimburse Slope County The state bonding fund is liable to Slope county for $24,576.51 of the funds of the county deposited by J. S. Douglas, county treasurer in the First State Bank and the Slope county State Bank of Amidon according to an opinion in the action brought by the county against the bonding fund commission received here today from District Judge Thomas H. Pugh. The amount asked by the county was about $97,000 this being the total balance of the county in the two banks at the time they closed and which could therefore not be turned over by Douglas to his successor in office. Judge Pugh held however that these banks had been designated as county depositories by the board of county commissioners in January 1919. Although this action of the board was suspended when deposit of county funds in the Bank of North Dakota was made compulsory it automaitacca- made compulsory it automaticaly compulsory deposit feature of the Bank of North Dakota law went into force. The only part of the loss therefore for which Douglas or his bondsmen are liable is that resulting from deposits made subsequent to March 15, 1921 when the depositary law passed by and the 1921 legislative session went into effect. As Douglas failed to secure the bonds from the banks provided for under this law he and his bondsman the state bonding fund commission are liable for sums deposited subsequent to that time These amount to $24,576.51.