Martin State Bank - Martin, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 14, 1931
Location: Martin, North Dakota (47.827, -100.115)

Metadata

Model: gpt-5-mini
Short Digest: d9237dca

Response Measures

None

Description

Article (The Bismarck Tribune, Jan 14, 1931) refers to the closed Martin State bank and trial of its former president after a receiver had taken the bank over for insolvency. No run is mentioned; the bank was closed and placed in receivership. Dates of suspension/receivership are not specified in the excerpt beyond the article date.

Events (2)

1. January 14, 1931 Receivership

Newspaper Excerpt: J. P. Reeves, district manager for the state receiver of closed banks... testimony regarding the condition of the bank prior to its closing; the defense proposes to show the bank was solvent up to the time the receiver took it over.
Source: newspapers

2. January 14, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was insolvent prior to closing; prosecution alleges deposits accepted after insolvency.
Newspaper Excerpt: Formal identification of records of the closed Martin State bank and testimony regarding the condition of the bank prior to its closing occupied Tuesday afternoon's session...
Source: newspapers

Newspaper Articles (1)

1. January 14, 1931 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, January 14, 1931

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Article Text

MARTIN BANK CASE TESTIMONY BEGUN Paul Schieman, State Contends, Deposited Money After Bank's Insolvency New Rockford, N. D., Jan. 14.-(P) -Formal identification of records of the closed Martin State bank and testimony regarding the condition of the bank prior to its closing occupied Tuesday afternoon's session at the trial of J. J. Breher, former president, on a charge of accepting a deposit in an insolvent bank. J. P. Reeves. district manager for the state receiver of closed banks; Richard See, deputy bank examiner; and Paul Schieman, Martin, were the witnesses called to the stand. Schieman, the state contends, deposited funds in the bank after its alleged insolvency. The defense proposes to show the bank was solvent up to the time the receiver took it over. Breher's trial is in the nature of a test case. Indications are that should Breher be acquitted, a charge of embezzlem ent against him and charges of accepting deposits in an insolvent bank against W. E. Daly, cashier, will be dismissed, according to John F. Sullivan, Mandan, and Hugh McCulloch, Washburn, defense attorneys.