New England State Bank - New England, ND

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: *
Location: New England, North Dakota (46.539, -102.868)

Metadata

Model: gpt-5-mini
Short Digest: 6cc45ebe

Response Measures

None

Description

Article describes funds being removed and a run on the New England State Bank connected to actions of Hastings (embezzlement/other criminal misuse). Text indicates the bank was run and closed; no evidence of reopening. OCR errors in article preserved; corrected interpretation: 'the bank's [funds] were removed in the run' and 'closing'.

Events (2)

1. * Run

Cause: Bank Specific Adverse Info
Cause Details: Funds removed/misappropriated under Hastings' management prompted heavy withdrawals and a run.
Newspaper Excerpt: the deal for the New England State bank was made, dollars the bank's were removed in the was run followed
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Following the run and removal of the bank's funds associated with Hastings' malpractices, the bank closed and ceased operations (permanent closure implied).
Newspaper Excerpt: the bank ... the closing. was indicted, freed from trial operation of the statute ... the deal for the New England State bank was made, dollars the bank's were removed in the was run followed
Source: newspapers

Newspaper Articles (1)

1. October 21, 1926 The Forum Fargo, ND

Article from The Forum, October 21, 1926

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Article Text

and women who know but one way to by laboring with their get grindstone and saving of their The average in bank is not gifted in depositor the of high Pugh pronounced three Judge years sentence on the and two on the of worthless stock after the first term Hastings was custody of the Morton county surprised at the severity of the adjourned, "but we have just Attorney Faber indicated. By peculiar the senof Hastings to five years in the at Bismarck place just few hours after the bank of Farin his fifth attempt at him for the when he knew the to be the penitentiary Monday had sought habeas corpus in the urging that he was deprived his liberty due that the loss of his had made impossible to perfect appeal for court the trial in which he Career Meteoric Hastings North Coming into picture as financial agent for Nonpartisan he flashed the stage few years as the ter adjunct to the when Townley was at power. North Dakota to New York. blazed spectacular In Thomas Box he the for time, all was from Hastings that the penple of North Dakota got their first the for establishing the Hastings story of the the bank the 1919 session of the state legislature, the complete control of the Hasting's story of the bank plan was but North know that Hast Ings knew whereof spoke, and that the he was one that had batched by the then league Power Once many the power of was felt. He had arisen from that of bookkeeper for the when It was struggling along its infancy with office at Minot. and when was known and its even by those in the first ran afoul of the law the closing. was in dicted, freed from trial operation of the statute of for Hastings out of the coming back about 18 months as the head to of banks. The deal for the New England State bank was made, dollars the bank's were removed in the was run followed and the Pleaded Guilty several others. all the accused other than Hastings freed. ings pleaded guilty to the charge of the charge of violating the state "blue law Hastings the third prominent financial the Nonpartisan league to land in the state prison and with state the growing out opera. tions while in charge of bank at Lisbon, his retirement from the league berth.