Scandinavian American Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 6, 1928
Location: Fargo, North Dakota (46.877, -96.790)

Metadata

Model: gpt-5-mini
Short Digest: f91094c9

Response Measures

None

Description

The article (Jan 6, 1928) identifies L. R. Baird as receiver of the Scandinavian American Bank of Fargo, ND, indicating the bank was in receivership (closed) with a receiver assigned. No run or reopening is mentioned in the provided text. Classified as suspension_closure because there is no evidence of a depositor run and the bank has a receiver.

Events (1)

1. January 6, 1928 Receivership

Newspaper Excerpt: L. R. Baird, as Receiver of the Scandinavian American Bank of Fargo, N. D., banking corporation, Plaintiff and Appellant, vs. George D. Perry, Defendant and Respondent.
Source: newspapers

Newspaper Articles (1)

1. January 6, 1928 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, January 6, 1928

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Article Text

From Stark County L. R. Baird, as Receiver of the Scandinavian American Bank of Fargo, N. D., banking corpora- tion, Plaintiff and Appellant, vs. George D. Perry, Defendant and Re- spondent. Syllabus: 1. Where a bank takes a negoti- able instrument by endorsement be- fore maturity and without notice, as collateral to a valid and subsisting indebtedness, so as to become a hold- er in due course and thereafter the maker, subsequent to its maturity and while said note is still held as such collateral, renews it, the maker cannot thereafter set up fraud in the inception of the orig- inal note as a defense in a suit on the renewal note so long as the re- newal note is held collaterally as substitute for the original note, and such holder has the same rights in the renewed note as it had in the original even though the note is re- newed in the name of the original payee. 2. Where such renewal note is still held as collateral the holder is entitled to the endosement of the transfer as a matter of law, and the maker, with knowledge of the rights of the holder either in fact or so as to put him on inquiry, hav- ing renewed the note in the name of the original payee cannot question the right of such holder so long as the note remains as such collateral. Appeal from the District Court of Stark County, Hon. Thomas H. Pugh, Judge. Reversed. Opinion of the court by Burr, J. J. W. Sturgeon, of Dickinson, N. D., Attorney for Appellant. Crawford, Cain & Burnett, of Dickinson, N. D., Attorneys for Re- spondent.