12447. State Bank (Milton, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 1, 1921*
Location
Milton, North Dakota (48.626, -98.043)

Metadata

Model
gpt-5-mini
Short Digest
30cfffcb

Response Measures

None

Description

Articles consistently refer to the State Bank of Milton as 'defunct' by Feb–Apr 1921 and show receivership activity through 1921–1922 (change of receivers, asset sale notices). No newspaper text describes a depositor run; the bank was closed and placed in receivership and assets were advertised for sale.

Events (4)

1. February 1, 1921* Suspension
Cause Details
Not stated in the articles; the bank is described as defunct but no trigger (run or scandal) is given.
Newspaper Excerpt
New Bank Chartered at Milton... It is hinted that Receiver Bergstrom, of the defunct State Bank of Milton, is slated for the cashiership of the new institution to open in the spring.
Source
newspapers
2. April 28, 1921 Other
Newspaper Excerpt
Receiver F. F. Evenson serves notice that October 14th, 1921, will be the final date for the presentation of claims by creditors against the the defunct State Bank of Milton.
Source
newspapers
3. January 4, 1922 Receivership
Newspaper Excerpt
John Valley, of Grand Forks, has been appointed receiver of the closed banks ... He will be receiver for the following banks: State Bank of Milton ... He succeeds F. N. Evenson, receiver at Milton.
Source
newspapers
4. October 26, 1922 Other
Newspaper Excerpt
Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: ... State Bank of Milton, Milton, North Dakota. John Vallely, receiver, Grand Forks.
Source
newspapers

Newspaper Articles (8)

Article from Cavalier County Farmers Press, February 17, 1921

Click image to open full size in new tab

Article Text

New Bank Chartered at Milton Milton has the charter issued by Secretary of State Tom Hall for a new bank in course of organization It is hinted that Receiver Bergstrom, of the defunct State Bank of Milton, is slated for the cashiership of the new institution to open in the spring.


Article from Cavalier County Farmers Press, April 28, 1921

Click image to open full size in new tab

Article Text

May 30-Decoration Day. June 15-Recall Election Day. July 26-27-28-County Fair. Sarles has its tennis club in an advanced stage of resurrection. Last night's frost-it froze ice-delayed seeding until noon today. 'Tis said that at Calvin the air is becoming electrified with baseball activity. Look for "Her Gloves" at the Langdon Auditorium Monday night, It will be a wonderful experience. Walhalla has reorganized its high school basket ball team and has Langdon in the intiniary of its schedule of games for the season. The first Sunday in May notes a change of thirty minutes in the hour of the evening service at the Methodist and Presbyterian churches of this city. The weather, since spring opened has held up the out door work of the high school track team in their training for the state meet to be be held at Grand Forks in May. Another social event of the week is the juveuile dance of this evening given at the Knights of Columbus. Hall. There will be good music and a light luncheon served. The birth of a little son is reported as having been a welcome event on Friday of last week at the home of Mr, and Mrs. Art Barker on south Sixth street. Receiver F. F. Evenson serves notice that October 14th, 1921, will be the final date for the presentation of claims by creditors against the the defunct State Bank of Milton. Milton townspeople are reported as having turned out en mass at a meeting held Monday evening for the reorganization of their baseball team. They favored the idea of an all home town line-up of players. The Wales Dramatic Club made such a tremendous hit in "Her Gloves" that the Young Ladies Sodality of St, Alphonsus church will present them in the same play Monday evening at the Langdon Auditorium. The Milton Gtobe notes the departure from Milton last week of Mrs Miles F. Kessler and daughter for Minneapolis where they will join Mr. Kessler, who has engaged in business there since his leaving Langdon early in the winter. Since the opening of spring auto speeders have already become a nuisance upon the main street of Calvin. Narrow escapes of both children and grown persons being run down in in broad daylight has made the demand to slow down imperative or be hauled into court. On the Ramage, Sullivan and Lie-beler farms, representing a majority of the crop acreage adjoining town all the early sown grain will be in the ground by Saturday night. There ssems to be a general feeling of satisfaction at the weather conditions at seeding time this spring, On Sunday afternoon Cashier. R. B, Pollock and wife autoed overland to Lakota, taking the east bound flyer for the Twin Cities and Chicago. Mr. Pollock goes east on business and his wife will make a short visit with a number of Minnesota friends of the family extending over a stay of a week or ten days. On Monday evening of next week there will be a social dancing party of Langdon young people held in the Schulke block at the Knights of Columbus hall. The Zettel dance orchestra has been engaged to furnish the music and the invitation to attend is generally extended to the people of Langdon and vicinity. There will be cards for those who do not dance and light refreshments will be served during the evening.


Article from The Bismarck Tribune, January 4, 1922

Click image to open full size in new tab

Article Text

RECEIVER FOR 4 BANKS NAMED John Valley, of Grand Forks, has been appointed receiver of the closed banks in the Grand Forks district created in the consolidation plan of the state banking board and guaranty fund commission. He will be receiver for the following banks: State Bank of Milton; Peoples State Bank of Grand Forks; Citizens State Bank of Bathgate and the Bank of Mowbray. He succeeds F. N. Evenson, receiver at Milton, and deputy state examiners assigned to the other banks.


Article from Grand Forks Herald, October 26, 1922

Click image to open full size in new tab

Article Text

LEGÁL NOTICES BANK ASSETS FOR SALE Sealed blds for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley, North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton, Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford, New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith, North Dakota. C. F. Kellogg, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bide should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)


Article from Grand Forks Herald, October 27, 1922

Click image to open full size in new tab

Article Text

LEGAL NOTICES BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers. State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota, O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank; Leith. North Dakota. C.F. Kellogs, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. CrocumState Bank, Crocus, North Dakota. Fred F Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen, receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kelfogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogs. receiver, Bismarck. Security State, Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. / Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal.


Article from Grand Forks Herald, November 2, 1922

Click image to open full size in new tab

Article Text

TYPEWRITERS FOR SALE REBUILT MACHINES $30 AND UP; guaranteed for one year. Send for catalog. Russell E. Spear, Grand Forks. WANTED TO BUY. LATE MODEL FORD TOURING CAR wanted. Must be in good condition and reasonable. Phone 2551-J. WANT TO BUY - MEDIUM SIZE house at reasonable price. O. E. Fosse. Box 131. WANTED TO BUY-USED CAR. FORD sedan preferred. George Andrysak, Hannah, N. D. LEGAL NOTICES. BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett. receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen. receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs. North Dakota. H. B. Hanson, receiver. Crystal Springs. Bank of New Rockford. New Rockford. North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith. North Dakota. C. F. Kelloge, receiver. Bismarck. Peoples State Bank. Grand Forks, North Dakota. John Vallely. receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota, Fred F. Walz. receiver. Egeland Security State Bank, Courtenay. North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper North Dakota. D. L. Engen. receiver Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank. Pingree. North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazon, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford. North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner. Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer. North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community. all bids to be accompanied by certified check of one per cent/ of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)


Article from Grand Forks Herald, November 3, 1922

Click image to open full size in new tab

Article Text

LEGAL NOTICE BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank, Leith. North Dakota. C. F. Kellogg. receiver. Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver. Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer. North Dakota. C. F. Kellogg. receiver, Bismarck. Williston State Bank, Williston. North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal. Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton, North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)


Article from The Bismarck Tribune, July 24, 1923

Click image to open full size in new tab

Article Text

# MILTON BANK # TO RECOVER John Vallely, receiver of the State Bank of Milton, may enforce collec-tion of notes against Thomas Davaney, Adelard Benoit and others, under a decision of the supreme court, reversing the district court of Cavalier county. The notes amounted to $10,133.84. The notes were given to the bank as a result of cattle deals and at the request of the president to enable it to carry indebtedness in a form sufficient to the bank examiner, and defendants denied liability, according to the record in the case.