12251. Citizens State Bank (Flaxton, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 12, 1925
Location
Flaxton, North Dakota (48.899, -102.392)

Metadata

Model
gpt-5-mini
Short Digest
ad227574

Response Measures

None

Description

Articles show Citizens State Bank of Flaxton was closed and had a state receiver (L. R. Baird). Dividends to depositors of the closed bank were paid in 1926. No article describes a depositor run; the bank was in receivership and remained closed, so classify as suspension leading to closure. Exact suspension/closure date not stated in these clippings; receiver cited in 1925 Supreme Court report.

Events (3)

1. August 12, 1925 Receivership
Newspaper Excerpt
L. R. Baird, as Receiver of Citizens' State Bank of Flaxton, North Dakota, a corporation, Plaintiff and Respondent, vs. Burke County ... ( Syllabus by the Court ) ... L. R. Baird, as Receiver of Citizens' State Bank of Flaxton, North Dakota, a corporation, Plaintiff and Respondent, vs. Burke County, a quasi-municipal corporation, et al, Defendants and Appellants. 1. ... 3. The state constitution ... 4. ... (mentions receiver for Citizens' State Bank of Flaxton.) That the bank had a receiver is explicit in the court item and indicates receivership/closure status.
Source
newspapers
2. August 12, 1925 Suspension
Cause Details
Not stated in the articles; bank was placed in receivership (state receiver) but no cause (e.g., insolvency reason) is provided.
Newspaper Excerpt
L. R. Baird, as Receiver of Citizens' State Bank of Flaxton, North Dakota, a corporation, Plaintiff and Respondent...
Source
newspapers
3. February 25, 1926 Other
Newspaper Excerpt
Banks at Flaxton and Cartwright Are * Paying Dividends Dividend payments to depositors in closed banks at Flaxton and Cart. wright were announced today by L. R. Baird; receiver for closed banks. A -10 per cent dividend is being paid by the Citizens State bank of Flaxton, ... Both dividends are being paid through. J. P. Reeve, district manager, at Burlington, N. D. (The Bismarck Tribune, 1926-02-25).
Source
newspapers

Newspaper Articles (3)

Article from The Bismarck Tribune, August 12, 1925

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Article Text

# SUPREME COURT From Burke County L. R. Baird, as Receiver of Citizens' State Bank of Flaxton, North Dakota, a corporation, Plaintiff and Respondent, vs. Burke County, a quasi-municipal corporation, et al, Defendants and Appellants. (Syllabus by the Court) 1. When the courts are called upon to determine and give effect to the legislative intention, it is proper to take notice of such contemporaneous history as led up to and probably induced the passage of the law, Sec. 7938, Subd. 60, C. L. 1913; to this end the court should place itself, as nearly as possible, in the situation of the legislature, in order to ascertain the necessity and probable object of the statute. 2. The construction of statutes is a judicial function; the action of the legislature of 1923, purporting to construe the statutes of 1917 and 1919 as legislative blunders, and therein attempting to give a meaning to words used by prior legislatures contrary to their ordinary and natural import, is not binding upon the courts. 3. The state constitution is a limitation, not a grant, of power; the legislature has full power of legislation, except as limited by that instrument and the Federal Constitution. Although the people have reserved legislative power, through the initiative and the referendum, the power of the legislature to act upon all proper subjects of legislation is wholly unchanged. Through the initiative, the people have provided against nonaction by the duly constituted representatives in the legislative branch; and through the referendum, an appeal may be taken di-


Article from The Bismarck Tribune, February 25, 1926

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Article Text

Banks at Flaxton and Cartwright Are * Paying Dividends Dividend payments to depositors in closed banks at Flaxton and Cart. wright were announced today by L. R. Baird; receiver for closed banks. A -10 per cent dividend is being paid by the Citizens State bank of Flaxton, and a 10 per cent dividend in,being paid by the First State bank of Cartwright. Both dividends are being paid through. J. P. Reeve, district manager, at Burlington, N. D.


Article from The Bismarck Tribune, January 17, 1927

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Article Text

DIVIDENDS TO BE PAID BY 10 CLOSED BANKS State Receiver Baird Announces Payments Through District Offices Dividends to be paid to the depositors in 10 closed banks were announced here today by L. R. Baird, state receiver of closed banks. Five dividends to be paid through the office of C. W. Conroy, district manager at Devils Lake, are: Security Bank of Oberon, a second dividend of 10 per cent; Security State Bank, Kensal, second dividend of 10 per cent; Farmers State Bank, Hesper, second dividend of 15 per cent; Karnak State Bank, second dividend of 20 per cent; Security State Bank, Brantford, a dividend of 10 per cent. Two dividends will be paid through the office of G. R. Van Sickle, district manager at Minot, as follows: Farmers and Merchants State Bank, Barton, 20 per cent; Towner State Bank, Towner, a second dividend of 30 per cent. Three dividends will be paid through the office of J. P. Reeve, district manager at Burlington, as follows: Farmers State Bank, Noonan, a second dividend of 20 per cent; Citizens State Bank, Flaxton, second dividend of 10 per cent; First State Bank, Lansford, second dividend of 10 per cent.