12221. Wakefield National Bank (Wakefield, NE)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
13281
Charter Number
13281
Start Date
November 26, 1928
Location
Wakefield, Nebraska (42.269, -96.865)

Metadata

Model
gpt-5-mini
Short Digest
59e7411d0a800df8

Response Measures

None

Description

Articles state the Wakefield National Bank suspended business on 1928-11-26 and a receiver (George G. Cronkleton) was overseeing claims and paying dividends in early 1929. No article describes a depositor run prior to suspension; the bank was in receivership and paying dividends, indicating permanent closure rather than reopening.

Events (4)

1. November 26, 1928 Suspension
Cause
Government Action
Cause Details
Bank suspended operations and entered receivership (receiver later named; articles reference formal claims and dividends under a receiver).
Newspaper Excerpt
The Wakefield bank suspended business on November 26th, 1928.
Source
newspapers
2. February 15, 1929 Chartered
Source
historical_nic
3. March 14, 1929 Receivership
Newspaper Excerpt
SPECIAL ATTENTION ITORS OF THE TIONAL BANK The Receiver of the above bank wishes to call attention to the fact that all persons having deposit in the bank must file claim ... There will be no dividends paid on unfiled claims. (Wakefield Republican, 1929-03-14). The Receiver ... George G. Cronkleton (Cedar County News, 1929-05-02). The Wakefield bank suspended business on November 26th, 1928. (Cedar County News, 1929-05-02).Payment of first dividend ... George G. Cronkleton, receiver the National bank Wakefield. (Cedar County News, 1929-05-02).
Source
newspapers
4. May 2, 1929 Other
Newspaper Excerpt
Payment of first dividend of percent been announced George G. Cronkleton, receiver the National bank Wakefield. ... the money, amounting to $176,000 will be paid at once. The Wakefield bank suspended business on November 26th, 1928. Claims against the bank have been filed for $400,000. (Cedar County News, 1929-05-02).
Source
newspapers

Newspaper Articles (2)

Article from The Wakefield Republican, March 14, 1929

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Article Text

SPECIAL ATTENTION ITORS OF THE TIONAL BANK The Receiver of the above bank wishes to call attention to the fact that all persons having deposit in the bank must file claim in order to participate in the dividends as they are scheduled. There are great many depositors that yet have not filed. Much time and trouble will be saved by filing as promptly as convenient. There will be no dividends paid on unfiled claims.


Article from Cedar County News, May 2, 1929

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Article Text

Payment of first dividend of percent been announced George G. Cronkleton, receiver the National bank Wakefield. Checks are being made out by Mr. Cronkleton to be sent to the Comptroller Currency at Washington for signature. When returned, the money, amounting to $176,000 will be paid at once. The Wakefield bank suspended business on November 26th, 1928. Claims against the bank have been filed for $400,000. Mr. Cronkleton has paid off the discounts due to the Federal Reserve bank, amounting to $44,000 addition to accumulating the large to be paid out in dividends. Other substantial dividends will follow in short time, according Mr. Cronkleton, who is pleased who well pleased with the extended by the Wakefield community which thus makes rapid settlement of the bank's affairs possible. Tough Lines Every time we count ten before speaking we forget what was were going to Blade. intended to it across in put form. One amendment actually ceived a few votes on the administration side. As the bill was drawn it authorized the presito fix the salary the chairman the farm board which the bill creates. There will be twelve members of the Eleven them will each receive salary of $12,000 year but the salary the chairman of the board will be such amount as may fixed the president United States. support of the plan to allow the president as high salary as he wanted pay the chairman of the farm board was argued that "the best America" ought to be selected, and such man could not be secured paltry $12,000 year. Bankhead, of Alabama, fered an amendment to limit the salary the chairman of the board to $50,000 per annum, the administration leaders rallied their forces and killed the amendment. The venerable Henry Allen Cooper, of Wisconsin, and five of his associates were the only ones on the administration side who vote to the salary which the president might pay to the chairman of the board. It seemed very odd to me that one of the generally recognized for President Hoover on the floor of the House, and especially his farm subjects, should be New Jersey representative, Mr. Fort, who represents district in which the largest farm garden patch. Fort an able debater when touching the technicalities the big farm bill, but as helpless babe when discussing problems of the farmer. Another add feature of the proceedings was the attitude Haugen and Dickinson, Iowa, Purnell, of Indiana, and Williams, of Illinois. For several years these four men were the foremost champions of the famous bill and its famous equilization fee. day they fought for bill which drawn by committee violently opposed to anything looking like had ever contained within McNary-Haugen bill.