First State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 26, 1929
Location: Ray, North Dakota (48.344, -103.165)

Metadata

Model: gpt-5-mini
Short Digest: 15e7b5be

Response Measures

None

Description

Article (The Bismarck Tribune, 1929-07-26) states the First State Bank, Ray, is closed and has a state receiver (L. R. Baird) paying a dividend to depositors. No run is mentioned; bank is in receivership and paying liquidation dividend, so classified as suspension leading to closure. Cause of suspension not given in article.

Events (2)

1. July 26, 1929 Receivership

Newspaper Excerpt: This has been announced by L. R. Baird, state receiver of closed banks. Ray State Bank pays a dividend of 10 per cent is being paid to depositors of the First State Bank, Ray. Payment is being made through J. P. Reeve, district manager at Burlington.
Source: newspapers

2. July 26, 1929 Suspension

Cause Details: Article does not state the reason for the suspension/closure; only that the bank is closed and under a state receiver.
Newspaper Excerpt: L. R. Baird, state receiver of closed banks.
Source: newspapers

Newspaper Articles (1)

1. July 26, 1929 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, July 26, 1929

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Article Text

RAY STATE BANK PAYS A dividend of 10 per cent is being paid to depositors of the First State Bank. Ray. Payment is being made through J. P. Reeve, district manager at Burlington. This has been announced by L. R. Baird, state receiver of closed banks.