12397. First State Bank (Larson, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 6, 1921
Location
Larson, North Dakota (48.890, -102.859)

Metadata

Model
gpt-5-mini
Short Digest
3716b9a4

Response Measures

None

Description

The articles reference the First State Bank of Larson as closed (Article 2: May 6, 1921). There is no explicit description of a depositor run in the texts provided; coverage concerns county funds, certificates of deposit and the bank being now closed. No concrete cause for the suspension/closure is given in the excerpts, so cause is set to 'other/unknown.'

Events (1)

1. May 6, 1921 Suspension
Cause Details
Article states the Larson bank is closed but gives no clear trigger (no explicit run, rumor, government action, or liquidation described).
Newspaper Excerpt
...a certificate is for $4,500 issued by the First State Bank of Larson, which is now closed.
Source
newspapers

Newspaper Articles (2)

Article from Grand Forks Herald, January 31, 1921

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Article Text

GRAND FORKS HERALD MONDAY, JANUARY 31, 1801. counte in Schedule No. 1 and 2. Attention is directed to the that of the amount of $2,407.fact that on November 27. 1920. MINOT NOT 645.24 loaned to banks the sum drafts were drawn on re-deposit of $1,147,007.35 was past due on of public funds accounts in the December 3. 1920. This includes sun of $1,390,000. or this sum Minot, N. D., Jan. 31 any part due items which may be $817,500 remained unpaid on date ment is made by the Gr contained in the list of closed of audit. December 3. 1920. and railway that Minoters : banks. on December 23. 1920, date of Minneapolis automobile Of the total amount loaned to final verification thereof there reary 5 to 12, will be allo elevators. packing companies, mained unpaid $478,000. a half rates. The redu and individuals on warehouse reItem of warrants out for collection plies to tickets purchas ccipts and storage tickets amountconsists of county warrants in the on or after February 4 Ing to $105.722, the sum of $69.sum of $124,436.93 and state warrants until February 15. WRA past due on December 3, in the sum of $191,811.50 or a' total The district court be 1920. of $316,247.43. grind today. the jurors 1 Due From State. In Detail No. 6 is presented a list morning. Judge John C. of loans on farm lands outstanding The state institutions are indebted siding Civil cases will in the amount of $2,599,069, together to the Bank of North Dakota in the later in the term. with description of property and data total amount of $882,716.72. of which Retreat week at St. I relating. to each loan. church in Minot closed amount $650,000 is owing the bank by the Mill and Elevator Association: women of the parish b The supporting papers of each loan $225,000 by the Home Building Assointo the Sodality of the were carefully scrutinized and appear clation. and $7,716.72 by the Indusgin last evening. A ju to be complete. All loans are first trial commission. was organized among th liens on the property covered. Where parish yesterday/afterno prior liens existed they were satisfied In Detail No. 2. is presented list part of the week was d before the issue of the new loan. of banks with which re-deposits of Rule No. 3 issued by the Bank of men and Wednesday eve public funds have been-made DV the were received into the H North Dakota/ applicants for real esBank of North Dakota in the sum of tate loans provides: ciety. Rev. Eugene Geh $7,040,899.19. cis, Wis. was master of "Loans will be made for 30 years Statements were mailed to these The second half of th to be payable on a 7 per cent basis banks with requests for verification opened today. This S (interest to be 6 per cent) The payof balances. No replies were received close June 10. Exami ment' of 7 per cent of the original from 285 of these banks. Of the veriheld during the past w amount of the loan will be required fications received those from the folThe Langdon city team annually as an annual installment on lowing banks contained discrepancies not American Legion te the loan. The 7 per cent annual pay in balances which we were unable to here tomorrow night. T ment is sufficient to pay the interest reconcile owing to the lack of time of a series of games wi at 6 per cent on the unpaid principal for further correspondence: Farmers' class of teams throughou and to pay an amount sufficient to and Merchants's Bank, Lakota: First determine just which tes retire the principal of the loan in 34 State Bank. Larson: First State Bank, to the basketball cha years. Any installments remaining unManfred; State Bank. Maxbass; First North Dakota. paid at the end of the 30th year are Bank, Hensel; Farmers and MerFrank Cox. Great Nor to be Included with the 30th annual chants State Bank, Monango: Montemploy, was arrested installment so that the loan will be belier State Bank. Montpelier; Bank charge of forgery. 1t i retired at the end of 80 years. of Niagara: Farmers and Merchants forged his father's name Bank, Niobe; First International Attention is called to the fact number of checks. He Bank, Noohan; Bank of Obern; Scanthat under this amortization plan his preliminary hearing dia-American Bank. Palermo; First $263.60 will have to be paid at the Ward Newman. mana State Bank, Reeder: Farmers' State end of the thirticth year for every not Woolworth store. ha $1,000 of principal or more than Bank. Regan; Security Bank. Rugby: ferred to Fort Dodge. Citizens' State Bank, Selfridge; First one fourth of the entire principal Mitchell of st. Cloud, M National Bank, Tuttle; First State of each loan. providing all previNewman in Minot. Bank, Williston. ous installments have been paid Minot business nfen 1 when maturing, and extension of Following this is a schedule prea campaign to raise $ time was not granted as provided senting lists of banks carrying repurpose of advertising by the statute in case of crop deposits of the Bank of North Datributary to Minot and failure. kota which have suspended operation with a view to bringing You will observe that out of tiers. The Association éxhibiting as to each bank the total the total of $33.074 due as first loans and discounts. overdrafts, items is co-operating with the payments to December 3. 1920. for collection. re-deposit of public department of the raili the sum of $18,353 remains unfunds, and credit balances in the state immigration depa paid at said date. This may readiBank of North Dakota. In the county court ly be explained by present condiTotal net obligations of such susJudge William Murray tions. Necessarily. however. its violators of the anti-ciga pended banks you will note amounts effect on the bank must be taken fine and $6.20 costs. S to $648,394.50. into consideration. not passed on other Overdrafts-depository banks, and Attention is directed to the fact that found guilty at the recer state institutions--are in the amount county court because o provision is made by statute for the of $42,027.33 of their attorney. issuance of bonds of North Dakota In Detail 3 are listed deposits with Emil Langehough of real estate series, "in an amount not correspondent banks in the sum of Miss Laura Ness of G exceeding the amount of the outstand$520,396.55. Statements received married in St. Joseph's ing loans secured by the mortgages from these banks were reconciled at the bedside of the b delivered to, and in the possession of with thelr respective ledger balances. the state treasurer" as provided in George Ness. George N The reconcilement with the Midland broken spine several we Sections 2 and 3 of said statute. National Bank of Minneapolis reveala building he was worki Attention is further directed to the ed a small discrepancy in the sum of fell on him. fact that no such bonds of a real estate $10 which. by reason of its amount series have been issued or sold and Internal injuries susta was not further investigated. ning and throwing hims that the farm loans negotiated by the The cash on hand was verified by while playing near his 1 bank in the sum of $2,599,069 have enumeration and found correct. ing. ,required an opera been made from capital. and current Cash items in the sum of $24,530.06 funds of the 'bank. tured appendix on Ho are listed in Detail No. 4. 10-year-old son of Mr. a In Detail No. 5 is exhibited a list Burtch of Decring. He of items out for collection in the Charged With Crime rapidly at St. Joseph's total sum of $1,870,706.64 analyzed to present unhonored drafts on reIn Saskatchewan; May Be deposits of public funds amounting to Stanley Editor Lai Extradited From Minot $817,500, and sent out for collection in the regular course. These collecUp Foll tions are separated into "Old" in the Minot, N. D., Jan. 31.-Canadian sum of $174,977.94. and "current" Stanley. N. D., Jan. officials are expected in Minot this items in the sum of $878.928.70. InKilen, editor and pub week to institute extradition proceedcluded in the details are lists of loans Stanley Promoter, slipp ings against five men alleged to have in the sum of $3,398,238.96 and rewhile going to his office 1 been implicated in the hold up of the discounts in the sum of $244,820.13, and injured his leg. B1 Robert Andrist home near Wood End, or a total of $3,643,059.09. Overset in and he is now CO Sask. a short. distance north of Noondrafts on the Bank of North Dakota His condition is not se an. N. D The hold up and robbery in the surn of $41,567.34 are also incommitted in December, was staged cluded. In addition thereto is the New York-Under th in real old west style. Two cars with item of $459.34 overdraft, North Daof Major J. W. Myrick seven men in them drove up to the veteran military bodies kota school for the blind making a Andrist home, where Carl Indahl and total of $42,027.33. dated to form the Unit Louis Lein of Neonan, N. D., were Lerans' association


Article from The Bowbells Tribune, May 6, 1921

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Article Text

EX-COUNTY TREASURER LARSEN HIS OFFICE UP GIVE TO REFUSES over to his successor, and unless he V. A. Official Violates Laws of State and personally knew the check was good I. the would rather have the drawer go to the bank and get the curAll Rules of Common Decency in Rerency with which to pay his taxes. Many of those checks turned down by Mr. Larsen at that time would fusing to Relinguish His Office. be more acceptable to Mr. Jensen than some of the certificates of deposit that Larsen was offering now. States Attorney Hanson also wrote an opinion Wednesday mornMay Be Arrested For Holding ing to the effect that Mr. Jensen was the legal county treasurer of Burke county immediately after he County Money and Property had qualified Monday morning, and that Mr. Larsen need not wait for a final settlement before turning Without Authority of Law things over. The final settlement could be made later, according to Mr. Hanson, who further explained Larsen $165,000 To Bankers that a court order could be easily Deposits Help procured from any district court ejecting Larsen if he refused to of Some of Time on Certificates Deposit, abide by the law in a peaceable manner. This opinion did not jibe with Mr. Larsen's idea of how 1922 Dec. Due are Which 1, things should be, and he probably did not care much about the law anyway If Mr. Jensen wouldn't that time the county board conThe way the I. V. A. element has take the office over with those cervened. Still Mr. Larsen refused been hanging onto the money of tificates of deposit he could go to turn things over until his depBurke county is enough to disgus without the office as far as Larsen uty, J. L. Christman, received his anyone, and it is likely that an exwas concerned. salary for the month of April. pensive lawsuit will be the resul County Commissioner John O. before the county finally settles The reason Mr. Christman was Grubb hadn't done anything for the with former County Treasurer Law not receiving his salary check for banks of the county since the first rence Larsen and his bondsmen. the month of April was because he of the year, so thought that it was owed the county several hundred Mr. Larsen positively refuses to about time for him to do somedollars for seed grain that was furturn over the office to County Treasthing for them, and Tuesday afternished him five years ago, He had urer J. R. Jensen, although several noon brought two resolutions bebeen on the county payroll for four demands have been made on him fore the county board and moved years, but never at any time made by arp Jensen, and a court order is that they be adopted. The first any pretense of applying any part now being procured from Judge provided that no county money be of his salary on what he owed the Moellring which will eject Mr. Lardeposited anywhere but in banks in county. County Auditor Meloy sen. and it is likely he will also be Burke county, and was addressed had been paying him his salary arrested for unlawfully keeping td the county treasurer, The seceach month in spite of the seed possession of an office and county ond was addressed to the banks of lien. and we presu:ne that Auditor property which should now be in the county and instructed them to Kopriva would have done the same custody of another officer. County refuse to pay checks or drafts isthing had it not been for the fact Treasurer J. R. Jensen left Wednes sued by the county treasurer which that the county board at a meeting day night for Minot where Atterin their opinion were given for the held on April 19 allowed a bill of ney E. R. Sinkler has been emto purpose of transferring money $98.00 to L Guiles of Battleview ployed to look after his interests any bank outside of Burke county. for operating a road gracer in Coleand the order was no doubt issued Commissioner Hauge objected ville township, and told Mr Koyesterday. Mr. Jensen expects to strongly to the adoption of either priva not to send Mr. Guiles a warreturn this (Friday) morning on motion. but Commissioners Grubb rant for the reason that he owed train No. 107 armed with the order and Kirkelie voted for them and the county for seed grain, but inwhich will' eject Larsen, and crimthey were adopted. The resolustead to give this warrant to the inal action will no doubt be brought tions will have absolutely no efcounty treasurer; get a receipt to later under Section 7979 of the Re fect on where Traesurer Jensen apply on the seed lien, and mail vised Codes of North Dakota deposits the county runds, as the him such receipt. This Mr. KoSeveral weeks ago it was learned state laws provide that he shall priva did. that County Treasurer J. R. Jensen have sole power of designating his When the first of May came Mr. had decided to use the Bank of own depositories. Kopriva issued salary warrants to In the settlement that Mr. LarNorth Dakota as a depository of all the county officials, deputies sen wants to make with Mr. Jensen the county funds, feeling that such and clerks with the exception of he offers $165,000 in certificates of action would meet with the appro himself and Mr. Christman. Mr. val of a majority of the people of deposit issued by local banks. Or a Kopriva also owed the county this amount $80,000 of these certithe county who voted to leave the balance on a seed lien, so took his funds there at the general election ficates were issued on April 28 and warrant to the treasurer and asklast fall. Since the bankers learnApril 29. the last two days that Mr. ed for a receipt to apply on the seed ed of his intention two members of Larsen was in office. Many of lien, the same as he had been inthe Burke County Bankers' Assothese certificates are not due until. structed to do in the Guiles case. ciation called on him at his farm Dec. 1, 1922, or only a short time Mr. Christman issued the seed lien and did their best to persuade him before Mr. Jensen's term expires, receipt to Mr. Kopriva, and then to leave such funds in the banks in and would do him no good, whatasked for his own warrant, and the county, and when he could no ever, in paying warrants. One of this Mr. Kopriva refused; but told be persuaded. they bull dozed, but the certificates is for $4,500 issued him he would give him the same it was all to no avail, He insisted by the First State Bank of Larson, kind of a deal as he was instructed which is now closed. and there is on putting the money where the to give Guiles, and the same as he also a checking account for $1900 majority of the people of the coun did in his own case. Mr. Christty wanted it put. Not being able in the Larson bank. The amount man indicated that he was not to do anything with Mr. Jensen, of cash and demand deposits that ready to pay anything ou the seed meeting of the bankers' association Mr. Larsen offered to turn over lien yet. but needed cash and would was called, and such meeting was was $149,000, of which $69,000 is 3ee to it that he got it. held in Bowbells on Thursday after in the seed grain rund. The balnoon of last week The meeting As Mr. Larsen agreed to turn ance of $80,000 is the only money that could be used in case Mr. Larwas held for the purpose of devisthings over after his deputy was ing some means of keeping the paid Tuesday afternoon. Mr. Ko sen's settlement is accepted for county. funds in the banks of the priva agreed to issue this warrant paying off county warrants and the county. Under the existing deposto Mr. Christman if an opinion funds due to the townships, school itory law Mr. Jensen has sole concould be secured from States Attordistricts. etc. It is generally bea trol of designating his own deposilieved that under the terms of ney Hanson to the effect that such was tories. and after talking the matwas a legal proceedure. settlement as asked for by Mr. Larter over it was decided to have exthen near the closing hour, but Mr. sen the county would run out of County Treasurer Lawrence LarHanson agreed to write such an ready funds in the course of a very short time, and it would be necessen distribute practically all funds opinion the following morning. on hand among the bankers of the An opinion to the effect that Mr. sary for the treasurer to, register warrants. It is doubtful if the county on time certificates of deKopriva could issue the warrant to posit in order to tie it un until the people of the county would want Mr. Christman if the county board local bankers were in better finan did not instruct -him to do other the county to register its warrants for lack of funds when it at the cial shape to dig up. At first Mr wise, as in the Guiles case, was same time had $165,000 out en written by Mr Hansen. and given Larsen objected to this. we are in formed, saying that he would be to Mr. Kopriva. This was on time. certificates of deposit, many made the goat in case Mr. Jensen Wednesday noon. and Mr. Larsen of them running until Dec. 1, 1922. made him dig up at the time of still held the office, although the B. A. Stefonowicz, Notary Public, state laws provide that his term of settlement, and would not accept office in The Tribune building. the certificates of deposit as so office expired when his successor tf Bowbells, N. D much cash. This would make it was elected and qualified. Mr. necessary for Larsen to raise the Jensen had done both the first cash, and that would be a hard thing Monday morning, but still nothing had been turned over to Shifting matter, as the banks could hold