First State Bank - Bowbells, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 1, 1923*
Location: Bowbells, North Dakota (48.803, -102.246)

Metadata

Model: gpt-5-mini
Short Digest: c0a530e0

Response Measures

None

Description

Article (Dec 20, 1924) states First State of Bowbells was one of banks closed before July 1, 1923 and is the subject of a receivership dispute. No run is mentioned. Closure appears permanent with receivership, and dividend payments withheld until receiver is determined.

Events (2)

1. June 1, 1923* Suspension

Cause: Government Action
Cause Details: Bank was closed and placed in receivership prior to July 1, 1923; dividend payments withheld pending determination of legal receiver.
Newspaper Excerpt: First State of Bowbells ... closed before July 1, 1923
Source: newspapers

2. December 20, 1924 Receivership

Newspaper Excerpt: They are ... First State of Bowbells ... of which A. Swanson claims to be receiver; ... disputing the claim of L. R. Baird, general receiver, for control of the banks. The matter is expected to be settled in court soon. Until the legal receiver is determined the Guaranty Fund cannot safely make payments, he said. (Dec. 20, 1924 Bismarck Tribune).
Source: newspapers

Newspaper Articles (1)

1. December 20, 1924 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, December 20, 1924

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Article Text

PAYMENT OF DIVIDEND IS PROCEEDING Four Banks Excepted Owing to Receivership Dispute, Pending in Court Payment of the ten percent divident to depositors of banks closed before July 1, 1923, is proceeding as rapidly as possible; it was said by C. B. McMillan, member of the Depositors Guaranty Fund Commission, concluding a session of the commission here today. The period of payment is not near the end as yet, it was added. Four of the banks closed before July 1, 1923, are to be excepted from the dividend at this time because of a dispute over receivership pending in the courts, it was said. They are the Mohalt State Bank, of which W. H. McIntosh claims to be receiver; Donnybrook State Bank of which Fred L. Anderson claims to be receiver. and First State of Bowbells and First State of Lonetree, of which A. Swanson claims to be receiver, the three disputing the claim of L. R. Baird, general receiver, for control of the banks. The matter is expected to be settled in court soon, Mr. MeMillan said. Until the legal receiver is determined the Guaranty Fund cannot safely make payments, he said.