Farmers Bank - Fessenden, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1925*
Location: Fessenden, North Dakota (47.649, -99.629)

Metadata

Model: gpt-5-mini
Short Digest: 28567d54

Response Measures

None

Description

Article states the Farmers Bank of Fessenden closed the same year (1925) and that liquidation was still ongoing ten years later (article dated 1935). No mention of a depositor run in the excerpt. A receiver and liquidation are referenced, so this is classified as a suspension that resulted in permanent closure/receivership.

Events (1)

1. January 1, 1925* Suspension

Cause Details: Article gives no specific trigger for the 1925 closure; only that the bank closed and liquidation/receivership continued into the 1930s.
Newspaper Excerpt: Matthaei also told that the Farmers Bank of Fessenden closed the same year (1925) and that the liquidation of the bank is still going on 10 years later.
Source: newspapers

Newspaper Articles (1)

1. June 14, 1935 The Producers News Plentywood, MT

Article from The Producers News, June 14, 1935

Click image to open full size in new tab

Article Text

The defendants met before the mass meeting to take up some of the legal details with a local attorney, W. E. Matthaei, such as filing the answer and other technicalities. Meeting Called to Order The mass meeting was called to order by Oliver Rosenberg, chairman of the Eddy County Holiday, also one of the defendants. Rosenberg briefly outlined some of the things already done in the case, such as answering the summons as a group by Burdick and Lemke. Also Rosenberg stressed the necessity of sticking together in this fight. He then called on Attorney Matthaei to explain the legal aspects of the case. First Matthaei explained that the office of receiver of closed banks was created during the 1925 legislative session for an indefinite time at an annual salary of $4,000. And in spite of the fact that the present receiver of closed banks, L. R. Baird, was. a member of the state senate during the time the office was created, he was appointed to that office right afterwards by Governor R. A. Nestos, although the North Dakota constitution has a provision which makes it unlawful for any member of legislature to be appointed to an office which he helps create. Matthaei also told that the Farmers Bank of Fessenden closed the same year (1925) and that the liguidation of the bank is still going on 10 years later. The sole pur-