12720. Ashland State Bank (Ashland, NE)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
November 30, 1929
Location
Ashland, Nebraska (41.039, -96.368)

Metadata

Model
gpt-5-mini
Short Digest
d601f887

Response Measures

Full suspension, Books examined

Other: Bank officers closed the bank and turned affairs over to local trade/chamber; state examiner placed in charge.

Description

Multiple contemporaneous articles (Dec 2, 1929) report a run triggered by false rumors that forced the Ashland State Bank to close its doors; state examiner McLain was called and took charge. Closure appears to be permanent/under examiner rather than a temporary single-day interruption.

Events (3)

1. November 30, 1929 Run
Cause
Rumor Or Misinformation
Cause Details
False rumors circulated in Ashland prompted gradual withdrawals, culminating in a run on Saturday (preceding Dec 2, 1929).
Measures
None reported other than closing doors and turning affairs over to state banking examiner.
Newspaper Excerpt
false rumors concerning the bank's condition were circulated at Ashland and were responsible for a gradual withdrawal of funds, climaxed by the run Saturday.
Source
newspapers
2. December 2, 1929 Suspension
Cause
Rumor Or Misinformation
Cause Details
Officers state false rumors about the bank's condition led to heavy withdrawals and the decision to close the bank; examiner McLain expected to check affairs and was put in charge.
Newspaper Excerpt
The Ashland State Bank this morning closed its doors after a run on the bank Saturday.
Source
newspapers
3. December 5, 1929 Other
Newspaper Excerpt
Examiner McLain now in charge. ... No statement as to plans for handling the bank's affairs was made; depositors to meet with examiner and committee to consider closing up the affairs of the directors of the bank.
Source
newspapers

Newspaper Articles (6)

Article from Fremont Tribune, December 2, 1929

Click image to open full size in new tab

Article Text

BANK VICTIM OF RUN ASHLAND. NEB. Dec. McLain. of the banking department, was expected to arrive here Monday afterto check on the affairs of the Ashland State which this closed its after run the The bank's deposits, according to The was capitalized at and had and profamounting to Its offiare Jeff Bmith, president; Wallton, cashier, and George cashier. According to the statement of ofrumors concerning the bank's circulated at and were for by the run Saturday. Officers stated the bank's condition and that the rumors persons for the as plans for handling the bank's affairs was made.


Article from The Hastings Daily Tribune, December 2, 1929

Click image to open full size in new tab

Article Text

RUN CLOSES BANK ASHLAND Neb., Dec. 2-RU.P.The Ashland State Bank this morning closed its doors after a run on the bank Saturday. According to the statement of officers, false rumors concerning the bank's condition were circulated at Ashland and were responsible for a gradual withdrawal of funds, climaxed by the run Saturday.


Article from Kearney Hub, December 2, 1929

Click image to open full size in new tab

Article Text

ASHLAND DISASTROUS Institution Is Forced to Close Doors This Morning. Ashland, Nob., Dec. McLain, the state banking department, expected arrive here this afternoon to check the affairs the Ashland State bank which this morning closed doors after on the bank The banks deposits, according to officers, total The institution was capitalized $25,000 and had surplus and undivided profits $10,000. Its officers are Jeff Smith, president: Walton, cashier, and George Lenhard, cashier. According the statement of ficers, false rumors concerning the bank's condition were circulated Ashland were responsible gradual withdrawal funds, climaxed the Saturday. Officers stated the bank's condition sound and that the rumors circulated by various persons solely for the No statement plans for handling the bank's affairs made.


Article from York News-Times, December 2, 1929

Click image to open full size in new tab

Article Text

ASHLAND STATE BANK CLOSES DOORS TODAY Officers Charge False Rumors Regarding Bank's Condition Result in a Run. ASHLAND, Neb., Dec. 2.-(U.P.J. F. McLain, representative of the state banking department, was expected to arrive here this aternoon to check on the affairs of the Ashland State bank which this morning closed its doors after a run on the bank Saturday The bank's deposits, according to officers, total $191,000 The institution was capitalized at $25,000 and had a surplus and undivided profits amounting to $10,000. Its officers are Jeff Smith, president; G. M. Wallton, cashier, and George Leuhard, assistant cashier According to the statement of officers, false rumors concerning the bank's condition were circulated at Ashland and were responsible for a gradual withdrawal of funds, elimaxed by the run Saturday. Officers stated the banks condstion sound and that the rumors circulated by various persons were solely responsible for the run. No statement as to plans for handling the bank's affairs was made.


Article from Ashland Gazette, December 5, 1929

Click image to open full size in new tab

Article Text

STATE BANK CLOSES DOORS MONDAY CELEBRATES BIRTHDAY Mrs. Anna Siemsen celebrated her birthday at the home her daughter, Mrs. Otto Wagner, Wednesday, Nov. 27. Mrs. Siemsen in good health and is lively and energetic for one of her years, and takes pleasure in helping the house work. She spends the winters with her daughter, Mrs. Wagner, and her son, Jacob Siemsen this city, but in the spring she gues Custer county, where she spends the summers with her daughMrs. Julius Schmidt. Rumors of Insolvency Cause Run on Bank; Lack positors' Confidence in Smash. The Ashland State Bank closed doors Monday morning, on the action the bank officers, Jeff Smith, and Walten, cashier, after rumors that the bank had caused some of the desolvent to withdraw their accounts. positors had been for The rumors the days, and withabout past drawals were increasing so rapidly officials turned the bank that over to the of trade and to avoid heavy loss to the commerce remaining depositors. Examiner McLain now in charge. bank in good shape, but get money in simply could not enough meet the fast who were of deposits by people the rumors and the preaffected by sent aspect on the condition of state said Mr. stock of The bank had capital of $191,000 with deposits shortly before its closing. The bank tied in real estate, had no money up had reserve of 18 percent and Mr. Walton said the started. fore there would be no believed that when the loss to depositors heavy were taken care affairs of the bank McLain has notice Examiner cards will be week's issue, and this depositor requesting issued to every meeting which their attendance Hoffman Audiwill held the At that time torium Monday will considered ways and means closing up the in the fairs of the directors of the The officers and of the have the sympathy bank Both Mr. munity in this Smith have been Walton and Mr. interested in highly during their years fairs in Ashland Mr. Walton, business here. earnest and has been pecially, act for supporter of every generous and good of the the working energetically present he will have to depositor that no closing of result of the suffer the bank. comes especially The failure had Geo. Lenhard. heavy blow to loses and shares which in that much stands to lose well his job. needed. as


Article from Nebraska Signal, December 5, 1929

Click image to open full size in new tab

Article Text

HARMONY Most all of the corn husking vicinity. George Eppler has been helping husk corn. Harry Rakestraw is helping his father, H. husk corn. James Hintz of Ohiowa finished husking corn for Emil Bedlam last Joe and Stella Schelbitzki were visitors at the Harmony school last Rex Johnson of Alexandria husking corn for his uncle, Christof and Mrs. Ben Higel spent Wednesday Clay Center at the Mr. and Mrs. A. Stowell and family spent Thanksgiving in OhioMr. and Mrs. Ross Heston spent Saturday evening with Christof The children and teacher of Harmony school enjoyed vacation and Friday. Little Delores Norder is spending days with her aunt, Mrs. Ollie of Miss Leona Myers and friend of Gilead visited at the home of W. family Sunday Mr. and Mrs. Jack Henrichs and Mervil Wayne were Sunday evening callers at Henry Norder's home. Mr. and Mrs. John Johnson and Ella spent Thanksgiving with Gene Fuller and family Mr. and Mrs. George Eppler spent Thanksgiving with Mrs. Eppler's ter, Mrs. Alfred Lentfer, and husGeneva. Mr. and Mrs. Jack Henrichs and Mervil Wayne spent Wednesday Henrichs parents, Mr. and Sander Sr. Mrs. Hele Johnson and son Charles of Ohiowa spent Saturday evening with their and brother, Christof family Mrs. Heie Johnson and son Charles of Ohiowa visited at the home of their daughter and sister, Mrs. Ross Heston, and husband Mr. and Mrs. Christof Johnson Schoenholtz and family and Mr. and Mrs. George and family Thanksgiving with the ladies' parents, Mr. and Mrs. Lou Eppler. Cleaning Up the Banks. The banking situation in the state is of to everybody. to note that the American State bank of Kearney has been reorganized and reopened under new name. Three comparatively small state banks closed by the state department last week, one at Chadron, one at Ashton and the First State bank of Lincoln. The Lincoln bank had moved in from one of the suburbs and had not been able to get on its feet. The Ashland State bank was closed Monday by its officers result of run. The bank had no real estate and was apparently sound condition but many people withdrew their money that the bank doors had to be closed. FAIRMONT NOTES. (Fairmont Chronicle.) The signs at the two bank intersections were placed yesterday. Born, Mr. and Mrs. Gerald Finney of rural route one, Tuesday, November 26, twin boys. The Fairmont lodge room being redecorated and the building repaired. Mrs. Watson is suffering from an infection which developed in cut on her right hand. Mrs. Moon and two children were reported ill of flu yesterday. Roy Burns, barber in Mr. Moon's employ, is also ill of the same malMiss Zola M. Shoemaker has purchased Aldrich northeast quarter of section 18-8-2, in township. The price was $100 per acre. There are no buildings. Willard McNamara, who employed assistant auditor with the Nebraska Bank commission the state during six has signed his position and came home Saturday to pass few days with home folks. is leaving for Chicago Wednesday to take up his work junior accountant with the thur Anderson Co., accountants of that city. An automobile driven by Mr. and Mrs. W. Bolton Emporia, Kas., into the ditch north of town the Meridian highway Tuesday when tire blew out. Mrs. Bolton had her right arm broken above the elbow and Mr. Bolton suffered badly bruised hip. They brought to the Ashby hospital and given medical treatment, before proceeding on their way to northern braska for Mr. and C. Chapin recently from their Pliny eral that he had been made genof the Santa Ana Laundry, Crystal Cleaners, Crescent and Southern Cleanall Service Co. The Santa Ana plant fine one and handles $200,000 Mr. Chapin ary, plus bonus at the end of the Miss Nellie Brown, sister of the late H. O. Brown and Mrs. Brown, passed at away Peoria, Sunday, November 24, following extended illness. She was in her year. Miss Brown has made her home the Faircommunity several the families of H. and Brown. an ount of Harlow Brown, Beulah and Alva Brown and Don Fraizer. Brown had many friends here. YORK (York Teller.) Miss Jane Muir seriously sick ious family over her condition. Mrs. who passed her night, her death occurred April tales of drifting in from New York and points nearer home, forth one day haste to put the deed record then to he expected better since the transaction John Muir returned Saturday from visiting his son Fred Cal, for several located about forty miles from San Diego and Fred is foreman of the Buick garage in the town which provides pleasant place of residence. During his absence Mr. Muir visited San Diego, Los Angeles adjoining towns and met many former friends, among them several he had known in boyhood. Depositors of the American State bank, after conference with Clarence Bliss the state banking board, named committee of five men to confer with state authorities concerning condition of the bank and to report to the depositors concerning the of the institution. Members of the committee chosen are W. Baer, Oscar Kolling, Thomas Curren Sr. and H. Clifford. Old Friendships, Never forgotten will glow with appreciation for that most personal photograph Arrange for an early appointment. 10-1 HABERMAN STUDIO. Notice. The D. of will meet at the hall Friday evening, December Officers will be elected for the coming year. /All members are requested to be present. For Sale. One two-hole John Deere and one Sandwich used shellers, in first class condition. Fairmont Geneva. 10-1 GEORGE W. PORTER. Food Sale. The Loyal Woman's class of the Christian church will sell pies, cakes, rolls, etc., at the electric light office December 14. 10-2 For Sale. White Wyandotte cockerels from state accredited flock $1.25 each. Sutton 4711. 10-1 EDWARD SCHMIDT. For Sale. Fairbanks five-ton scale, good condition, for sale reasonable. Phone 90. 10-tf GENEVA MILLING CO. 10-2 Personal Tax Notice. All personal taxes not paid by December 10 must have interest added. CLAY THOMAS, County Treasurer. For Sale. roan Shorthorn cow, to be fresh soon. Phone 4013 W. 10-tf WALTER EATON. E. Johnson's Public Sale. Johnson will sell mules, cattle, farm machinery, at his home Tuesday, December 10. See his ad in this issue. For Sale Pure bred White Wyandotte cockerels. Fairmont 10-2 MRS. W. J. PERKINS. Lost, A brown gun case. Finder please leave George W. Porter's Implement store. 10-1 For Sale. Pony, buggy and harness, reasonable. Grafton, Neb. 10-1 H. EICHSTEDT. Milk and Cream. Can handle few more customers my milk Phone 294 W. 10-3 FRANK BRADEN. For Sale. Barred Rock cockerels. Phone 3830 Shickley 10-2* WILLIAM Wanted. Washing ironing and plain sewing Phone 165 10-1* LOUISE TAYLOR. For Sale. Rose comb Rhode Island red roosters, $1.25 Neb. 10-2* CHARLES TRENARY. For Sale. Wicker baby buggy. Geneva phone 267. 10-1. For Sale. Day library table $7.50. 10-tf MRS. W. HOURIGAN.