12730. First National Bank (Auburn, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3343
Charter Number
3343
Start Date
October 5, 1931
Location
Auburn, Nebraska (40.393, -95.839)

Metadata

Model
gpt-5-mini
Short Digest
3c7ffbdf

Response Measures

None

Receivership Details

Depositor recovery rate
66.7%
Date receivership started
1931-10-13
Date receivership terminated
1937-02-26
OCC cause of failure
Economic conditions
Share of assets assessed as good
57.3%
Share of assets assessed as doubtful
33.3%
Share of assets assessed as worthless
9.4%

Description

The First National Bank of Auburn voluntarily closed by order of its board on Oct. 5, 1931; a national bank examiner took charge and the Comptroller subsequently appointed a receiver (George Austin). Later reporting (1932, 1934) treats the institution as a closed bank in receivership, so the suspension led to permanent closure/receivership. No run is described in the articles.

Events (4)

1. May 20, 1885 Chartered
Source
historical_nic
2. October 5, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank closed voluntarily by order of its board of directors; national bank examiner placed in charge the same day.
Newspaper Excerpt
May Reopen AUBURN, Neb., Oct. The First National bank here closed voluntarily this morning and officials they expected ... notice the door of the bank it closed by order of the bank its board of directors. Nelson, national bank examiner, is charge.
Source
newspapers
3. October 13, 1931 Receivership
Source
historical_nic
4. October 16, 1931 Receivership
Newspaper Excerpt
George Austin has been pointed receiver of the First National Bank by the Comptroller the Currency at Washington, and assumed charge of the bank Wednesday. ... Since the bank closed last week has been charge of Bishop, national bank examiner and affairs put in shape that the begin the work liquidation.
Source
newspapers

Newspaper Articles (5)

Article from Beatrice Daily Sun, October 5, 1931

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Article Text

SUSPENSIONS ARE ANNOUNCED Neb., Oct. The First National Bank of Hastings today failed to open its doors for business. and federal authorities took charge. At the time its last statement carried posits totaling about Jones presdent and Vern Manahan, cashier. Attempts recently had been made to reorganize bank. The bank's capital was plus $100,000 and undivided profits $45,000. Advices received here today were to the effect that the deposits totaled about $1,500,000 the basis figures obtained since the last statement. May Reopen AUBURN, Neb., Oct. The First National bank here closed voluntarily this morning and officials they expected of Lincoln is president the bank and H. Bousfield cashier. Its capital stock $50,000 surplus $25,000 at the time of the last statement. notice the door of the bank it closed by order of its board of directors. Nelson. national bank examiner, is charge.


Article from Nemaha County Herald, October 16, 1931

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WILL OF Been In Auburn Since 1929 Nemaha County Bank and of Well Qualified by Experience And Acquaintance. George Austin has been pointed receiver of the First National Bank by the Comptroller the Currency at Washington, and assumed charge of the bank Wednesday. Mr. Austin to Auburn in June, County bank, and busily gaged since that time in ating that bank. There is work to be done in that connection but another man will be sent here by the department of trade and Austin acted as receiver of the Bank of Julian. His home at Orleans, Nebr. In his work connected with the liquidation the Nemaha County bank, he has proven competent and efficient and he has formed wide acquaintance which will be of value in his of course, possible this time for him make statement as to the any time that will required in winding up the affairs of the First National what the ultimate results of the Since the bank closed last week has been charge of Bishop, national bank aminer and affairs put in shape that the begin the work liquidation. There no doubt but that Mr. Austin, virtue his experience and will handle the matter to the best of concerned.


Article from Lincoln Journal Star, December 14, 1932

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MERE MENTION Specials at True's, baked ham sandwiches 10c, pumpkin pies 25c. -Adv. Collectors club will hold its regular meeting the Lindell hotel at Thursday. Extra choice dinner steaks, Sirloin or Porter House 19c 1b. Raisin bread, the delicious, wholesome loaf, try toasted, 8c. Florida oranges 63c pk. Freadrich GrocThe Dental Study club, under direstion Clyde Davis, held its regular meeting at the Cornhusker Tuesday night. The club is of younger dentists of the city. Three Lincoln men were pledged to Delta Sigma Delta, honorary dentistry fraternity the University of Nebraska, Tuesday night of series of "smokers" be held during the year. The pledges are Gibson, Davie and Sam Philpot. Pledging was-at the Lindell hotel. Rev. Ben F. Wyland showed mopictures of his trip to Europe the meeting of the county federation of Hi-Y clubs at the Hi-Y building Tuesday evening. More than fifty youths were present. John Groth, president, had charge. Prior to the meeting, Rev. Paul Johnston addressed dinner on the occasion of the final session of boy leadership training. For the scores of children who with their mothers visit the ladies' rest room in the city hall basement, Mrs. M. Cory, matron, has provided Christmas tree. It located under the skylight the north with windows opening upon it. An illuminated star at top and Santa Claus at the bottom with clusters of light draw attention. Special rest room table decorations with candles are being arranged. Governor Bryan gave directions Tuesday to Secretary Porterfield to notify the Nebraska democratic presidential electors to meet at the capitol on the date fixed in the federal law, the first Wednesday in January, which will be Jan. the day following the convening of the legislature, to cast their vote. The old state law which fixes the date of voting on the second Monday January is to be disregarded, as it was ignored four years ago by the day before he retired from office. City of Lincoln's suit against Standard Accident Insurance company of Detroit to collect $45,000 was dismissed in federal court when Don W. Stewart, representing the handed City Kier the company's check for $10,000 as first installment. Similar payments will be made at monthly intervals and $5,000 payment on or before April The Detroit company was sued as surety for the bankrupt Lincoln Trust company with which the city had deposited $45,000 in connection with sale of issue of airport bonds. Emmanuel Methodist Epworth league will present "An Old Fashioned Mother,' in three acts Thursday evening at 8 m., the church, 15th and sts. The cast will be assisted by mixed quartet. Members of the cast are: Lois Gates, Paul Lembke, Alfred Holmes, Frances Neel, John DeHattie Lembke, Marie Gerdes, Lucy Sawyer, Orville Hutcheson, Harold Pine, Aletha Davis, Ralph Pullen. The quartet "composed of Elizabeth Hogle, Ramona Henry Gembala and Bruce Reed, accompanied by Lois Watt. Major E. C. Wallington of Omaha, warfare officer of the seventh corps area. addressed thirty-five members the Laneaster County Reserve Officers association at the state house restaurant Tuesday night. Tracing the history of chemical warfare from the time when the early Spartans used smoke to rout their enemies, Major Wallington outlined its scope at the present day He declared this type of warfare reached its highest development during the World war. At that time chemical warfare department was organized in the army and later the national defense act of 1920 the chemical service was created. He showed two reels of films depicting how gas may be used for smoke scréens. After jury had been sworn to try George Cronkleton's suit against Frank D. Eager in federal court, the parties agreed to try it to the court alone. and the jurors were excused until m. Wednesday. Ira D. Beynon, representing Mr. Cronkleton, who sued as receiver for First National bank of Auburn, then offered Mr. Eager's $5,000 note in evidence rested his case, rescinding his long enough to stipulate cerfacts about it with R. W. Devoe, for the defense. It was agreed that the note came into the receiver's when he was ppointed on Oct. of last year, being part of the papers in the bank. The contends that it was an asset of the bank, and the defense try to prove that it wasn't, Mr. Eager claiming


Article from Lincoln Journal Star, December 16, 1932

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MERE MENTION trees, fresh certified trees: all sizes; will not shed. 1526 Rabbi Ogle B'Nai Jeshurun, Twentieth and South, speak on Uses of Adversity" at the regular Friday evening services at m., Friday. George Burt says that another carload Dr. Phillip's treeFlorida arrive Thurs. morning. They are the best oranges for juice on the market. at all Mrs. Effie M. Byers, democratic from Hastings, address Saturday noon at the Cornhusker "Duties of Elected States Officers." 100 regular Dutch lunch sell at 95c each. man's gift. Contains six portions Swiss two jars caviar, jar assorted anchovies, box of ham:mered wafers, 95c. Beachly Bros. Deputy Fire Marshal Butcher tion of the cause of the fire at the Fair store in Beatrice as soon the weather warms up enough the building. He found no reason to believe the fire was malicious. Suit of George S. Austin, receiver for First National bank Auburn, Maurice set for trial Friday in fedTeral court, has been continued. Trial by jury was waived and the jurors all excused, subject to The Ward suit was for lection on $2,200 note. Henry Dietz, seventeen, days ago pleaded guilty to forging check, was paroled by District Judge Chappell until 1935, when Dietz will twenty-one. Judge Chappell said that account the boy's age he was paroling him. The boy has been instated in high school, where he has but semester to complete his gradation. Sergeant McDowell went to Omaha Friday morning to return Sylvester Mason, who wanted here for questioning in connection the robbery, sometime shortly before Sept. of the home of his brother, Dr. Floyd Mason, 706 So. 32nd. Approximately $325 worth of clothing and other artiwere taken in robbery. Some of the loot was recovered. Cold weather and snow put to harnessing new arterials before the process completed. Practically all are systematized, however, with exception of South street which will be properly buttoned as soon as snow disappears. The city street department abandoned arterial work in favor of ridding dirt roads snow prospect practically the unpaved system by Saturday. A jury in District Judge Broady's returned verdict Friday morning in favor of the Lincoln Works against the PennsylvaFire Insurance company for and against the TravelFire Insurance company for $820.19 account of loss fire 1337 July The plaintiff the Pennsylvania company and the Travelers $1,053. The cases were consolidated. W. H. Mullins, treasurer of South Sioux City, and his bondsman, the Fidelity Deposit company, told the court Friday that the district court rightfully held they were not liable money lost the failure of bank of Sioux City, since the law says that treasurer must deposit public money in bank, and that while this bank was never designated depository, the city had its the council knew the use being of Wescott, farmer, three or south of Lincoln, and Frederick E. Keons, 1420 Rose, were in an mile north the Denton road on the road ning. Neither was badly hurt but both were tken Bailey's rium by Deputy Sheriff Davis and given The cars damaged. Deputy Davis said that escott admitted he was driving without lights. Secretary Porterfield of the ernor's office has notified dential electors meet at the governor's office Wednesday, cast their vote for president vice provision of the federal statute. The electors James Lawrence, Lincoln; Harvey Newbranch, Effie M Byers, Hastings: James Quig. ley, William Cowan, Stanton; Frank M. Colfer, Mc Cook: Mary E. Farrell, Schuyler. Allen, close friend, adviser and Governor Bryan, said the governor had been making steady recovery but it still problematical whether he would be able to face the legislature in person early month. Allen the governor's had improved so that was fairly cetrain he be prepare his messages the but that time would decide whether he could read them personally. The governor still is being kept in bed. Petition for probate of the will John sr., who died filed court. His will left his estate to his wife, for her lifetime and then goes to his two grandCatherine Ellen Finigan, and Paul. proviso that of the land should be sold until 1940. The will states that John Finigan, son of the deceased, was not given any part of the estate provision had previously been made for him and his two children were remembered substantially. Mack West, 229 No. 11th, notified police Friday that he ing the car which was crushed by Burlington train at the Havelock avenue crossing Thursday morning. He he was driving toward Havelock and did not see the train until was too late to stop. He tried to get across the tracks ahead of the train, but failed, the pilot of the engine hitting the rear of the car. West lost one tooth but his companion, whose name he did not know, was uninjured. Box Butte county taxes for all this year will than the taxes of last year, according to report by County Clerk W. Irish to the state tax all local taxes is and in state taxes is $2,649.55. The total assessed valuation of the county was reduced $3,220,125. State taxes are cut from $36,104 to $33,- BEBER SPEAKER. Beber, Omaha, will the speaker for the Internationcelebration Lincoln chapter No. ganization. The national Sunday TifSynagogue. 454; county taxes, from $48,156; school, $234,573 village, to Furnas, Garden, Saline not reported final tax footings. Attorney General Sorensen citiholding buildnig and loan for securities offered by strangers without He said an Edison six $100 shares of building and stock for six $10 shares life insurHe said the insurance stock and selling above but at the best par would be more than $100 in contrast to the sound $600 investment the woman had building stock. Monteith and other taxAlpha high school trict of Chase county appealed the supreme court Friday from finding Judge Eldred they had started their lawsuit to cover taxes building fund levy the legality of which contested. The payments were made back in 1927, and the court held that whether they pursued the right remedy, at issue, the general statute of of four years would The taxpayers insist the district had no power to make the levy. George H. Yost, thru his attorneys, objections in supreme court to being held on $1,400 note that he his second wife, The, district court Clay county found favor, but she He said that he had given his wife $2,000 and that enough. He said that the was consideration of her return to him, but that she began suit for divorce, which she He says that of the conditions of her return was that he should send away from the home or place charitable institutions certain his children by his first wife, and that such condition is against public policy and void. William Schleiger, charged with grand with the theft of 200 posts from the Cornbelt Lumber company, Denton, at his hearing Municipal Judge Polk that he traded eleven gallons whisky "broken farmer, camping near Lincoln, for the post he of stealing He also as did three other witnesses, that he was his way to the rodeo the the stolen, to the evidence, he acquired the posts before they stolen, and Judge Polk bound him over to the district court under bond. Mary Polak and her husband, Frank, appealed to the supreme court Friday three cases in which the district court Saunders county decided against them. The lower court gave Nellie Danahay judgment for Flora B. Corder for $5,040 and Frank E. Davis $1,575, mortgage bonds they held which originally executed by the Polaks to the Nebraska State Savings bank of Wahoo. These they later paid to the National bank, an institution, which failed turn the money to the holders of the bond. The insist they never knew the plaintiffs held the bonds, while the insisted that the makers mortgage should have demanded back bonds instead of being satisfied with receipt for payment. The lower court refused hold that moneys paid were held in trust by the state bank ceiver.


Article from Star-Herald, May 25, 1934

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FAILED BANKS GET R. F. C. CASH LOAN Washington, May 24. (P)-Receivers of closed Nebraska banks were' authorized to borrow $2,022,653.43 from the Reconstruction Finance corporation between February 2, 1932, and May 18, 1934, Jesse H. Jones, chairman, reported today. The largest individual loan authorized in Nebraska was $175,000 to the Farmers State Bank of Columbus. The Farmers State Bank of Kearney borrowed $141,750. and the Norfolk National bank received $130,000. Besides the loans to closed bank receivers, the RFC also authorized a loan of $50,000 to the Fremont Mortgage company. The table of loans to closed bank receivers includes Auburn. First National Bank of Auburn. $26,000 First National Bank of Auburn. $23,000. Aurora. Fidelity State Bank, $49,675. Columbus, The Commercial National Bank Columbus, $60,000; Farmers State $175,000. Fremont, The Union National Bank of Fremont, $85,000. Holdrege Phelps County Bank, $50,000. Hooper, Hooper State Bank, $40,000. Litchfield, The First National Bank of Madison. The First National Bank of Madison, $83,000. McCook Farmers & Merchants State Bank, $26,000. Norfolk, The Norfolk National Bank, $130,000 Platte Center, Platte County Bank, St. Edward The Smith National Bank of St. Sterling, First State Bank. $31,000. West Point. The Point National Bank, $50,000; West Point National Bank,