12140. Clyde State Bank (Clyde, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
*
Location
Clyde, North Dakota (48.770, -98.899)

Metadata

Model
gpt-5-mini
Short Digest
e2ac0a76

Response Measures

None

Description

Articles (Oct–Nov 1925) refer to L. R. Baird as Receiver of the Clyde State Bank and discuss litigation over shareholder liability after the bank failed. No mention of depositor runs in the provided clippings. The bank therefore suspended and was placed in receivership (closure). The precise date of suspension/receivership is not given in these excerpts.

Events (2)
1. * Receivership
Newspaper Excerpt
L. R. Baird, as Receiver of the Clyde State Bank of Clyde, North Dakota, plaintiff and respondent, vs. C. B. McMillan, as Executor ... (Bismarck Tribune, 1925-11-04).
Source
newspapers
2. * Suspension
Cause Details
Not specified in the provided articles; articles concern post-failure litigation over shareholder assessments.
Newspaper Excerpt
L. R. Baird, as Receiver of the Clyde State Bank of Clyde, North Dakota
Source
newspapers

Newspaper Articles (2)
1. October 28, 1925 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, October 28, 1925

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Article Text

# Deceased Persons # Held Liable Same # As Those Living Estates of deceased persons have the same liability with regard to responsibility for ownership of stock in banks as living persons, the supreme court held in the case of L. R. Baird as receiver of the Clyde State Bank vs. C. B. McMillan as executor of the will of James Balfour, appealed by the defendant from the district court of Burleigh county. The question involved was whether or not the estate of a deceased person who had been a shareholder in the state bank could be held liable for an assessment on account of a super-added statutory liability, where the bank fails after the death of the shareholder and where the claim was not filed or allowed in probate court.

2. November 4, 1925 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, November 4, 1925

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Article Text

From Burleigh County L. R. Baird, as Receiver of the Clyde State Bank of Clyde, North Dakota, plaintiff and respondent, vs. C. B. McMillan, as Executor of the Last Will and Testament of James Balfour, Deceased, defendant and appellant. # SYLLABUS: Section 8736 of the Compiled Laws of 1913, barring claims against estates of deceased persons, if not presented within the time specified in a notice, is construed in relation to an assessment of superadded liability imposed by Section 5168 of the Compiled Laws for 1913 upon holders of bank stock, where the bank did not suspend until after the statutory period had elapsed, and it is held that the claim for superadded liability is not barred though not presented within the time specified in the notice for filing claims against the estate. Appeal from the District Court of Burleigh County, Hon. Chas. M. Cooley, Judge. Affirmed. Opinion of the Court by Birdzell, J. E. E. Fletcher, Esq., Langdon, N. Dak., attorney for appellant. Messrs. Conmy, Young & Burnett, Fargo, N. Dak., attorneys for respondent.