12679. First National Bank (Adams, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9223
Charter Number
9223
Start Date
November 24, 1933
Location
Adams, Nebraska (40.459, -96.510)

Metadata

Model
gpt-5-mini
Short Digest
ceb26078

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1933-09-12
Date receivership terminated
1936-12-31
Share of assets assessed as good
37.8%
Share of assets assessed as doubtful
62.1%
Share of assets assessed as worthless
0.0%

Description

Newspaper articles (Nov–Dec 1933) report Ralph Klein/Kline as receiver for the First National Bank of Adams and petitioning to sell securities. This indicates the bank was in receivership and effectively closed; no article mentions a depositor run. Receiver action (court/receivership) implies suspension/closure by authorities.

Events (4)

1. August 21, 1908 Chartered
Source
historical_nic
2. September 12, 1933 Receivership
Source
historical_nic
3. November 24, 1933 Receivership
Newspaper Excerpt
Ralph Klein, receiver for the First National Bank of Adams, has filed petition in district court, attached which long list of bonds and certificates which the receiver to convert into cash in the best interests of the bank.
Source
newspapers
4. November 24, 1933 Suspension
Cause
Government Action
Cause Details
Receiver (Ralph Kline/Klein) appointed and petitioning court to convert securities to cash; bank under receivership due to assets far below par/insolvency.
Newspaper Excerpt
Ralph Kline Petitions Court For Action In Adams Bank Case ... receiver for the First National bank, Adams, has filed in district
Source
newspapers

Newspaper Articles (3)

Article from Beatrice Daily Sun, November 24, 1933

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Article Text

RECEIVER APPROVAL FOR BONDS Ralph Kline Petitions Court For Action In Adams Bank Case SECURITIES FALL FAR UNDER PAR What might be termed crosssection picture of the effects presentwhich Ralph Kline, receiver for the First National bank, Adams, has filed in district Attached to the petition is long list bonds certificates which the receiver proposes to convert cash in the best interests of the bank. The securities free assets. They of course listed their value, but they are now marketable far below par. Among the bonds some like two Insull issues which are involved what has been termed "utilities empire Samuel Insull now selfexiled Greece, the U. government having failed secure his extradition to face charges in Chicago. Some of the bonds are in fault, having paid no interest for long period. the paper totals about Some dropped from quotations above par in the days the speculative boom to virtually nothing General Theater Equipment bonds, by deposed movie in senate the Chase bank, New York, included in the Adams bank list. Other securities represent sues Australia, Chile, Italy, France, Austria, Germany other countries governmental within their borders. through protective commitsimilar to groups which have been formed after other bank failures, Receiver Kline course suggests the sale of the bonds at price obtainable." When questioned last night the receiver declined discuss the fairs of the bank except the proposed sale of the securities set forth in his court petition. It been reported at Adams, howeverr, that there has been discussome sion plans. Noth(Continued on Page Eight)


Article from The Wymore Arbor State, December 1, 1933

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Article Text

Week of November 27 to Dec New Cases Filed In District Court Vern Ayers, Mary Ballard, Mary Creighton and Helen Baete, Ernest Hubka County of Gage County, Nebraska, Paul Good of Nebraska, and Charles Bryan Governor and Commissioner of Labor Order. Attorneys for plaintiffs, Sackett constitutionality of the state law prohibiting women working in restaurants after midnight in cities of the metropolitan and first class has been challenged district Court where Vern Ayers, proprietor of Ayers' Cafe Beatrice has filed an action seeking have state enforcement officers restrained from applying the law instance. With him as plaintiffs are Mary Ballard, widow, Mary Creighton, widow, and Helen Baete, partial supporter of her parents, employment at cafe would ended by the application of the statute. The plaintiffs allege that enforcement officers about to bring action against them, and contend that the statute to invoked uneonstitutional does not prevent female employ. ment towns less than first class after M., but legislates against of first class and ropolitan The cation of the law, the petition further alleges, would hurt the welfare of the plaintiffs and the community generally; would impair the health and welfare of the plaintiff employand their dependents; would constitute an invasion of property rights and would add to employment distress. The business has been successful and stable, Ayers contends, by its operation 24-hour basis and this would be largely destroyed if that basis were reduced to fewer hours of service. In event the statute should succeed in obtaining the dismissal of the three girl employes the cafe could not be erated 24 hours day for the that the nature of the work not such that male employes can carry out successfully. Attempts do that have failed). Hentges Henry VanBeek; Alzena VanBeek, Ralph Klein, Receiver of the First National Bank of Adams, Nebraska, Zink Brothpartnership, composed of Zink and Val Zink, RichardSale Certificate. Attornfor plaintiff, Rinaker Delehant. Gilbert Cobb George nas, to Quiet Title Attorneys for plaintiff, Rinaker Delehant and Hevelone. property in question consists of Lots Block 10, Green's addition to Belvidere Heights, Beatrice). Fred Ostendorf Robinof Mortgage. Attorneys for plaintiff, Killen VanBorkum. The Mutual Benefit Life Insurance Company, corporation, Mary Gann, et of Attorneys Stewart Whitworth, Lincoln, Nebraska. Dean Coonley, recently appointed Register of Deeds of Gage County succeed Charles Judd, states that while the county board has authorized the appointment of clerk his office he probably will not make the appointment until after JanuCoonley asked for the pointment privilege Tuesday der bring the office force up normal strength. Clerk Dean Brandt retired at the time Register Judd's resignation became effective, about November 1st. Fay Henderson, of Beatrice, granted divorce from Henderson on grounds of cruelty district court Monday. She was given custody of the couple's two children and was allowed $25 month for their support, to be paid the defendant. Pabst, sentenced last week District Judge Fred Messmore to year in the penitentiary for stealing car belonging to ren Williams of Pickrell, was taken prison Saturday by Sheriff Tom time. The farm known as the Burgess place, which of mile north and miles west of Filley, offered sheriff's sale at the Court House, Tuesday, to satisfy mortgage. The eighty acre farm brought $8,283, which was amount of the mortgage. averaglittle more than $100 an acre. The property was owned by the State Bank of Douglas, now defunct, and the mortgage held by Ada DunMrs. Dunlap was the winning bidder the sale.


Article from The Wymore Arbor State, December 1, 1933

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Article Text

Marriage Licenses The following licenses marriage issued in County Court the week: Leonard Hagan, 26, and Emma Wehmer, 24, Lincoln. Frank Reimer, 27, Beatrice, and Esther Thimm, 23, Beatrice. Hago Miller, Filley, and Julia Andersen, 23, Filley. Ralph Klein, receiver for the First National Bank of Adams, has filed petition in district court, attached which long list of bonds and certificates which the receiver to convert into cash in the best interests of the bank. The curities free assets, and are are now marketable at far par. Some of the bonds are default, having paid no interest for long period. At par the paper totals about $140,000. Some have dropped from quotations well above in the days of the speculative boom to virtually nothing. The may be sold through protective committee similar groups which have been formed ter other bank failures. Receiver Klein, of course, suggest the sale of the bonds at best price obtainIt has been reported at Adthat there is some diseussion of reorganization of the bank, but the information not definite.