12131. Farmers State Bank (St Edward, NE)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
May 25, 1928
Location
St Edward, Nebraska (41.570, -97.866)

Metadata

Model
gpt-5-mini
Short Digest
1a9b2218e6a69032

Response Measures

None

Description

1928 article reports an extra heavy run that exhausted cash reserves and the bank was taken over by the state banking board. Later articles (1931–1932) discuss a receiver (Clarence Bliss) and receiver actions including foreclosure and litigation, indicating the bank remained closed and in receivership. Dates are taken from the newspaper dates and text references. No specific misinformation event is described, so the run is not classified as a random/misinformation-driven run.

Events (4)
1. May 25, 1928 Run
Cause
Local Banks
Cause Details
Extra heavy withdrawals (run) exhausted the bank's cash reserve; article attributes takeover to the run.
Measures
Bank taken over by the state banking board (suspension of payments / takeover).
Newspaper Excerpt
The Farmers State Bank of St. Edward was taken over by the state banking board last Friday. The reason assigned was an extra heavy run on the bank, which was more than their cash reserve could stand.
Source
newspapers
2. May 25, 1928 Suspension
Cause
Bank Specific Adverse Info
Cause Details
State banking board takeover following an extra heavy run that depleted the bank's cash—regulatory action resulting in suspension/receivership of the bank.
Newspaper Excerpt
The Farmers State Bank of St. Edward was taken over by the state banking board last Friday.
Source
newspapers
3. July 13, 1931 Receivership
Newspaper Excerpt
Bliss, ousted receiver... held his receiver through order of the district courts. ... Farmers State bank ... St. Edward Farmers State and the Snyder State bank, of Snyder. (mentions receiver Clarence Bliss in connection with Farmers State Bank of St. Edward). Also 1932 article: receiver of the Farmers State Bank of St. Edward had sued him (foreclosure).
Source
newspapers
4. February 4, 1932 Other
Newspaper Excerpt
The action of jury in Boone county in freeing Frank Flaherty of liability on $5,900 note upon which the receiver of the Farmers State Bank of St. Edward had sued him was sustained by supreme court.
Source
newspapers

Newspaper Articles (5)
1. May 31, 1928 Primrose Press Primrose, NE
Article from Primrose Press, May 31, 1928

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Article Text

Days Gone By Items of interest taken from the files of the Press of years ago: 15 Years Ago A car driven by Dr. Dewey on which there were no lights collided with a Luggy in which Will, Vera and Bessie Robinson and Grace Larson were riding, just east of Primrose. Thieves broke into the depot at Cedar Rapids and robbed the gum vender of a few pennies, A daughter was born to Mr. and Mrs. Clarence Kelley. Twins, a boy and a girl, were born to Mr. and Mrs. Will McCart. A daughter was born to Mr. and Mrs. Earl Weaver. The R. Gundy 160 acre farm was sold to Thos. Reigle for $12,800. An ordinance to restrain domestic fowl from running at large was passed by the village board. 10 Years Ago Sam McBride WAS killed at his home in Louisana by lightning. Frank Sievers took over the local management of the Cedar Valley Creamery here to replace Byron French, who resigned. Jos. Teply sold his quarter section farm to A. C. Thompson at $67.50 per acre. Mrs. Nels Johnson, who resides west of Primrose, is in a very critical condition with an attack of gall stones. are good for new Doctor in Primrose in the future as a ten pound son was born to Dr. and Mrs. G. W. Bartlett on Thursday, May 24th. Latest word from Margaret Wares states that she will be confined to the hospital in Detroit for several weeks yet but that she 18 slowly recovering her health. The Farmers State Bank of St. Edward was taken over by the state banking board last Friday. The reason assigned was an extra heavy run on the bank, which was more than their cash reserve could stand. Miss Loyal Lyons, who has made her home with her sister, Mrs. G. E. Ward, and attended school the past year left Saturday for a visit with her mother at Avoca,Ark. Mr. and Mrs. E.S. Maxwell accompanied her as far as Lincoln. Geo. Snodgrass drove to Paxton Sunday to meet Mrs. Snodgrass who was returning from Ft. Collins Colo where she had been called the previous week by the death of her mother. Harold Snodgrass also went to paxton and from there will go to Longmont, Colo. for the summer. The village authorities have men at work this week painting the water tank both inside and out. Thetank was drained and cleaned out which has made the water supply. low at times as it has been possible to only keep the mains full. After this is completed, however, the water will be fresher and better and the tank will be better preserved. Win First Game Manager Watts and his base ball team went up to Ericson last Sunday for thefr opening game of ball for this season and won from the Erieson boys by the score of to 4. Cowski, pitching for Primrose, pitched a real good game and was given very good support. He was credited with 12 strike outs while Robinson and Boyles for Erieson got 8 and 8 strike outs respectively. hits while their opponents landed 8. The next game scheduled for the home team will be next Sunday when they willsday the fast Fullerton team on the Primrose grounds, The boys show evidence of playing good ball this season and should be given the hearty support of the community. Cedar Rapids Mrs. Mary Homan was passenger Columbus Monday morning to be with her father who was taken to St. Mary's huspital the latter part of the week. Miss Winifred Towey, teacher in the Petersburg school is visiting at the John Towey home west of town. Mr. and Mrs. F. D Burges, Jr announce the arrival of baby gir on May 23rd.- Outlook. BRICK BATS Josephens Myers was hard as nails. He was busky chap. His frame could stand the toughest gales. He had great strenght on tap. His constitution let him ent about ten times a day. To him strong liquor was treat. He smoked the live long day 11. whooped it up till three or four, just seven times week. When others quit, he called for more. He still felt bale and sleek. He hit the trail of raising cain for twentyseven years, and then one day he got pain that shook him to the ears. First thing he know he went kerflop. His gizzard wouldn't go. His ticker had a fanny hop bis pulse was weak and slow. The dector took knife and saw and saved his span of years then gave Josepheus words of law to cram between his ears, So now Josepheus goes to bed at nine P. m. each night. He's quit the life that he once led. for he has seen the light. Tis better far than fame or wealth. to have busky frame, and if do not save our health, we only are to blame, Brick Smith. A miscellaneous shower was held in honor of Agnes Harrahill on the evening of May 24 at the home of Mr. and Mrs. Frank Purdy at which about 70 were present. A three course lunch was served and she received many beautiful presents. The following Sunday evening there was another snower given for her at Mr. and Mrs. Tom McGown near O'Connel when there were about 200 present. She received many more beautiful presents. At a late hour lunch was served, then the evening was finished by dancing All report having had good time. Nebraska Facts The first railroad came, to Nebraska in December, 1863, The governmentiga the United Pacific company every Alternate section of land for twenty mileseach side of the track and loaned $16,000 per mile of roadbed built. through the state, and $48,000 per mile in the mountains. The percapita cost of running the state government of Nebraska was for 1927, as against $7.01 for 1926 and $3.86 in 1917. Nebraska's eleven million hens produce more than billion eggs annually and sold at more than twenty millions of dollars. Nebraska's state university ranks among the ten leading educational institutions of the nation in scholarship and enrollment. Nebraska ranked second among the states in 1927 in production of corn, wheat and sugar. The State of Nebraska IS erecting new dental building on the university campus at Lincoln, a new dormitory for girls Curitis experiment station, and science hall at Peru. Mr. and Mrs. N.J. White and daughter Lettie drove to O'Neil Tuesday to accompany Mrs. E. Tarpenning home from visit here As there were no Memorial Day services here yesterday, large number of Primrose people spent the day at Cedar Rapids and elsewhere. Bans were published Sunday for the second time for the marriage of Mark Purdy of Primrose and Miss Agnes Harrahill of Elgin, which will take place early in June. Mrs. W.J. King and Arletta Robinson left last Thursday for a visit at the J. E. Robinson home near Oshkosh and also-with her mother and other relatives at Gering. The feature picture for next Satirday might will be "Silver Valley" by Tom Mix. The news reels have been discontinued for the time being and a good comedy will be shown Nelson Allard arrived home Friday from Auburn where he has been teaching school the past year and will visit with home folks until Sunday, when be will go to to Lincoin to attend school during the Mr and Mrs. L. II. Whitman drove to Omaha Saturday for a visit with her sister Miss Pluma Wagers and also with a nephew, Martin Burroughs, who had underwent an operation at an Omaha hospital. Martin accompanied them home and, will remain here for a time. Our new serial story "The Red Road" by Hugh Pendexter starts in this issue of the Press. This tascinating story is founded on Indian days with plenty of adventure, suspense and thrills interwoven with an uncommon, satisfying love motif. Read the opening installment this week and you will not want to miss any of this great story.

2. February 26, 1931 The Albion Argus Albion, NE
Article from The Albion Argus, February 26, 1931

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Article Text

Insurance Company tiff, Howard Ruth Chamberlain, Edward PetPeterson, real name wife of Edward Peterson, State Bank, St. Edward, Farmers Clarence Bliss, SecreNebraska, the Department of Trade of of the State of NebCommerce Receiver of the Farmers raska, Bank, St. Edward, Nebraska, State American Mortgage Finance Incorporated, John Doe, Company, unknown, and Mary Doe, name unknown, wife of John name defendants, whereby the Doe, are said action on the described property foreclosed, Forrest Lear, Special of said court, virtue of the authority in me vested as such Master under the decree and order of sale issued to me such Master, will the 28th day 1931, two o'clock in the March, afternoon, at the entrance the county court house at Albion, the county seat of Boone County, Nebraska, at the usual place where sheriff's sales of land are made in said county, sell at public auction to the highest bidder for cash, the property on which said mortgage foreclosed, which said property situate in County of Boone, State of Nebraska, and known and described as follows, The Southwest Quarter of Section numbered Eleven (11) and the Southeast Quarter (SE%) of Section numbered Ten (10), in Township numberNineteen (19), North, Range numbered Five (5), West of the 6th M., containing in 320 acres, more less, according to Government Survey, in Boone County, Nebraska. To satisfy the plaintiff in the sum of $19,213.19, with interest thereon at the rate of 10 per cent per annum from May 1930, which amount decreed to be first lien upon the mortgaged premises hereinbefore described, and satisfy the sum of costs shown said order of sale, and the accruing costs and expenses of said sale; the proceeds of sale to applied on confirmation of said sale, as fol- lows: (1) the unpaid costs suit that accrued and may accrue; payment plainthe found to due interest thereon, said decree provided, and costs expended, and (3) the surplus, any, be paid such may found that time to be entitled thereto. All provided by said order of and decree. Said sale will be held open one hour at the time and place aforesaid. FORREST LEAR, Special Master of the United States Court for the District of Nebraska, Omaha Division.

3. July 13, 1931 The Columbus Telegram Columbus, NE
Article from The Columbus Telegram, July 13, 1931

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Article Text

LIGHTNER RETIRES Alone Presides Judge Spear at ATTORNEY'S MOVE FOR CONTINUANCE REFUSED Fremont, July 13 the decide whether Commerce Luikhart entitled take failed from Bliss, ousted receiver, resulted in the of District Judge Louis tirement Lightner from the case and an adAt opening the Beynon for the fication Judge Lightner on the grounds that he had written letter to Governor Charles W. Bryan, interfere in bank promising not Judge Lightner voluntarily from the ing Judge Spear on bench to hear alone. Judge Spear overruled motion Attorney Cook, asking for continuance of the case, Cook saying had just taken the case and did not know all of the points involved. Arthur Mullen, Governor Bryan's attorney, opposed motion, saying that there was noththe and that had died retired and would require great deal of research. Court was adjourned to permit Cook to study and gather data. Bliss that he will oppose the transfer of the long the applications for are and handled the Bliss said, to but await the action of the Bliss had in his fight with the governor that held his receiver through order of the district courts. Banks today Farmers State bank Belgrade; Boone State bank Bradish; Cornlea State bank; Farmers State: Clarks State bank; Dodge State bank; Farmers State bank of Fullerton; Farmers State bank of GeState bank of Bank and Murphy, of Humphrey: Lindsay bank; State bank; First bank of North Citizens and Farmers State bank of Scribner State bank; St. Edward Farmers State and the Snyder State bank, of Snyder. Lincoln, July 13 letter State Bass today, Attorney General said that the shall honor ordwhoever of failed when out the hands of the written folBass' assets failed banks since the brewed Governor Charles Bryan and Clarence Bliss. obligation to honthe Bliss the in Mr. Bliss by any court,' the torney general wrote

4. July 15, 1931 Osmond Republican Osmond, NE
Article from Osmond Republican, July 15, 1931

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BRYAN LISTS ATTORNEYS The controversy now at its height between Governor Bryan and Bank Receiver Clarence Bliss in which the governor is accused of such interference in the labors of the receiver that the latter attempted removal of his office from the co-operation of the state banking department has prompted Governor Bryan to publish the names of the attorneys who have been employed by the receivers and the amounts paid to them in the past. The Governor recently suggested list of attorneys who should be given preference in receivership cases and as these men were of the gov. ernor's political faith, decided ob jections were voiced by the receiver. Employed heretofore in bank cases according to the list given publicity by Bryan are: B. Hurley, Ponca, $735; Allen State bank, Allen; Citizens State bank, Martinsburg State bank, Martinsburg; Security State bank, Ponca. George B. Hastings, Grant, Allen State bank, Allen, and two others. Kelsey and Kelsey, Norfolk, $5,494; Battle Creek Valley bank, Battle Creek; Pierce State bank, Pierce: Enola State bank, Enola: Magnet State bank, Magnet; Meadow Grove State bank. Fred S. Berry, Wayne, $14,605: Beemer State bank, Beemer; Farmers State bank. Bradish: Farmers State bank, Altoona; Farmers State bank. Crofton; Magnet State bank, Magnet; Dixon State bank, Dixon; State Bank of Laurel, Laurel; Orchard State bank, Orchard: Thurston State bank, Thurston; Security State bank, Wakefield. H. Doyle, Fullerton, bank of Clarks, Clarks: Ottis and Murphy bank, Humphrey; Farmers State bank, St. Edward, and two ers. Shurtleff and Spillman, Norfolk, Breslau State bank, Breslau: James C. Guigley, Valentine, $1,220; Browneee State bank, Brownlee; Ranchers State bank, Cody: Valentine State bank, Valentine; Kilgore State bank, Kilgore; American bank Merriman. Crites and Crites, Chadron, $2,502; Chadron State bank, Chadron; Wayside State bank, Wayside; Farmers bank, Crawford (sale). W. A. Meserve, Creighton, $2,051; Security bank, Creighton; First State bank, Bazille Mills. Dolezal, Mapes and Johnson, Fremont, $4,456.61; Dodge State bank, Dodge; Farmers State bank, Ames; Dodge county bank, Scribner: Snyder State bank, Snyder; Farmers State bank, Genoa. Swarr. May and Royce, Omaha, $13,942.19; Scribner State bank, Scribner; Snyder State bank, Snyder; Brown county bank, Long Pine, and two others. Hammond, $226; Inman State bank, Inman. Sidney Frumm, Dakota City, $2,210; Bank of Dakota county, Jackson; First State bank, Nacora: State bank of Laurel, Laurel; Bank of South Sioux City, South Sioux City. NORFOLK MAN FOUND DEAD City authorities at Norfolk were called the home of Gus Bartholoto mew on Monday to ascertain if possible the cause of death of Hillard Bartholomew; 24 years old, whose body was found in the home garage by his father. From all indications the young man had committed suicide. Examination by the authorities proved that he had taken the car belonging to his father on Sunday evening without the knowledge of his parents and contrary to instructions from them. He had been out late in the evening and overturned the car. It was also learned that he had been drinking. The body of Bartholomew was found lying near the exhaust of the car; all doors to the garage were closed.

5. February 4, 1932 The Albion Argus Albion, NE
Article from The Albion Argus, February 4, 1932

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Supreme Court Sustains Verdict In Flaherty Case (Lincoln Journal) The action of jury in Boone county in freeing Frank Flaherty of liability on $5,900 note upon which the receiver of the Farmers State Bank of St. Edward had sued him was sustained by supreme court. Thursday. Flaherty said he gave the note accommodation and never got any money on it. The receiver said that its execution fraudulent scheme to deceive the state banking authorities and worked fraud on the creditors, even the it were accomodation note. The court says the evidence does not support that contention or that the state authorities were really deceived. There no testimony to show that the bank, a going concern when the note was given, was in an unsound condition. It is true that it needed money, but appears to have preferred to raise this by the use of paper rather than enforce obligations upon farmer debtors who suffered loss of crops. No one, the court says, was injured or deceived.