12731. Nemaha County Bank (Auburn, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 16, 1929
Location
Auburn, Nebraska (40.393, -95.839)

Metadata

Model
gpt-5-mini
Short Digest
55b05984

Response Measures

None

Description

The Nemaha County Bank failed to open on Saturday (reported June 16, 1929) with no run reported. Articles state frozen assets and 'bad paper' and that a receiver (Clarence G. Bliss) filed bond later; property sales and liquidation proceedings followed, indicating permanent closure/receivership.

Events (3)
1. June 16, 1929 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had 'frozen assets' and 'bad paper' leading it to fail to open; reorganization was planned under new state law.
Newspaper Excerpt
The Nemaha County Bank ... failed to open its doors here today. ... there was no run on the bank Friday. It merely failed to open Saturday morning.
Source
newspapers
2. August 8, 1929 Other
Newspaper Excerpt
The first sale of the property by closed Nemaha County Bank was held Saturday afternoon ... bank held mortgages ... total receipts of the sale were $2,140. This will be less than 15 per cent return the bank with which pay depositors.
Source
newspapers
3. August 25, 1929 Receivership
Newspaper Excerpt
CLARENCE G. Bliss has filed his bond as receiver for the failed Nemaha County Bank at Auburn. It probably will be some time before depositors get a dividend
Source
newspapers

Newspaper Articles (5)
1. June 16, 1929 Nebraska Daily News-Press Nebraska City, NE
Article from Nebraska Daily News-Press, June 16, 1929

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Article Text

AUBURN BANK CLOSES DOORS Nemaha County Bank Fails to Open Saturday; Plan Re-Organization AUBURN, June The Nemaha County Bank, one of the oldest stitutions in southeastern Nebraska, failed to open its doors here today. assets and "bad paper" given the of the failure. was understood organization of the institutions for re-opening under the new Nebraska banking law If the bank fails to re-open considerable will be entiled by the citizens of Auburn and Nemaha county. The institution had posits of approximately $350,000 and was capitalized $20,000. one four banks in Auburn. Officers of the institution president, Coddington: vice president, William Tynon: cashier, Elizabeth Tynon: assistant cashier, Chris Schacht. The bank was established in 1901 by the late M. Engles. though the bank was considered the strongest in southeastern Nebraska, Auburn /citizens today said had been rumored for some time that in difficulty over frozen assets. There was no run on the bank Friday. It merely failed to open Saturday morning.

2. August 8, 1929 Nemaha County Republican Auburn, NE
Article from Nemaha County Republican, August 8, 1929

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Article Text

First Bank Sale at Dawley's The first sale of the property by closed Nemaha County Bank was held Saturday afternoon the Clarence Dawley farm east Auwith Margason auctionand George E. Codington clerk the same. It was said the that bank held mortgages and drafts to little over $1,300, and after the flood Mr. Dawley forced to give up his farm opera tions and turned the whole thing over the bank receiver or man charge of affairs. William Ball retained by the bank to look after stock until the sale which held last Saturday. The total receipts of the sale were $2,140. This will be less than 15 per cent return the bank with which pay depositors.

3. August 25, 1929 Nebraska Daily News-Press Nebraska City, NE
Article from Nebraska Daily News-Press, August 25, 1929

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Article Text

Exchange Notes No Money? THERE is no money in the bridge fund with which to meet extraordinary rebuilding demands, says the Auburn Republican, and the people will not vote a $150,000 bond Issue, either. the newspaper declares. In that event, Nemaha county folks may be required to swim their rivers and creeks. Bridges NEMAHA county wants a bridge across the river at Brownville, says the Auburn Republican. While there is nothing definite to report now, the newspaper says that the project is under way. In Nebraska City the project was under way for 16 months, but Brownville may move faster. Bank Receiver. CLARENCE G. Bliss has filed his bond as receiver for the failed Nemaha County Bank at Auburn. It probably will be some time before depositors get a dividend In Wisconsin. MRS. Blanche Gabus, editor of the Brock Bulletin, and her daugh-ter, Edna, are having their vacation in Wisconsin. After 52 Years. ALTHOUGH they have lived within 100 miles of each other for a half century, Jacob Scharb of Council Bluffs and N. and Peter Opp of Nehawka, all of whom came to America on the same vessel in 1869, had not met until a few days ago when Mr. Scharb and his wife visited the Opp families in Nehawka. Mr. Scharb is an engîneer on the Rock Island and was retired on a pension a few weeks ago. He is now visiting some of the folks he knew long, long ago. Unloaded Here. CLARENCE Hanson is an automobile dealer in Nehawka, says the Enterprise. A carload of motors, though, was consigned to Nebraska City by mistake and he came here to unload them and drive them back to Nehawka. Hole in One. RAYMOND Smith, playing on the Rockport course, says the Atchison County Mail, managed to make a' hole in one the other day and has been so listed.

4. August 29, 1929 Nemaha County Republican Auburn, NE
Article from Nemaha County Republican, August 29, 1929

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Article Text

was called to department upon extricate the State Bank of from predicament. extending the depositIntent whatever aid he might, Governor Weaver said he sent Clarence Bliss, of the department of trade secretary and to Elgin to attempt to commerce, save the institution. reorganization plan, in an embryonic stage, developed as a result, and at the governor's suggestion, the nesota scheme unfolded to legislators by Secretary Bliss, and almost immediately adopted. Today, the governor pointed out, 16 banks have closed since the law effective and of them have came been reopened with the depositors holding the key to the situation in each instance. saves prolonged liquidation and losses, and permits the depositors to clear their own banks without the up aid of help from the outside," he Isn't that the bunk? And here is the real heart of that whole matter. The governor that 16 banks have closed and of them have reopened with the depositors holding the key to the situation. They holding the key to the situation. Governor we know that in this town. It's damn big key too. depositors' much smaller key when the positors get back through the state banking department. And then the governor goes on to that under this new law saves prolonged liquidation and losses and permits the depositors to clear up their own banks." He should that say gives the depositors chance to cleaned You notice how deftly the big lows like the governor and his man Bliss always talk in the terms of the depositors' bank. In this it city was the Nemaha County but Bank, since was closed by the banking partment, after they slept their on wrights for about it seven years, has become the depositors' bank. We doubt if any of the big fellows are big enough to fool all of the little fellows. But they certainly put it over on when they passed that bankbanking law last winter. Lincoln said something about all fooling of the people part of the time, but he said you can't fool all of the people all of the time. This kind of banking that working so smoothly at the pense of the depositors is going to ness turning of the worm, and the time comes for the turning there going to be something doing. The people need less lawyers bankers in the state legislature. Then they will have laws made by the people and for the people. This banking law and the above words from the governor reminds one of the boy and girl who had found nut. They quarelling over when young lawyer came along. butted in and said he would settle the question for them, and fell they He took the nut broke in pieces, handed half of the shell to the boy and half to the girl, and said to each, there is your share. he said the rest of the nut, the meat, mine. Under this new the positors are getting the shell off the nut and the bankers who the run funct bank, and the banking ment are getting the kernel. But Jones always did the pay freight.

5. October 10, 1929 Nemaha County Republican Auburn, NE
Article from Nemaha County Republican, October 10, 1929

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Article Text

Instruct Treasurer Claim with Bank Receiver COLD SHOULDER KIWANIS ORDINANCE Request to Park Trucks Court House Passed Crossley Parking" ReTurned Down council had lot of little business matters take care of their meeting Monday night. The body met first board of equalization in the matter of the sewer district running east from the city park, down the alley between Tenth and Eleventh streets. After short discussions and complaints made before the council Mr. Bressler and Tom Gillespie, the meeting adjourned to meet next Monday night. The grade arrangement at the residence of Joe Humphrey as tablished by the city engineer approved by the city council. The matter sidewalk west the Gilmore store west of the court house came up for discussion, but no action was taken on the matter. Considerable discussion over the band levy, the use of money and all about how the matter was handled. was explained by the city clerk that member appointed by the city, one from the chamber of commerce and the band leader to look after the details. No report seems to have been made back the city council, and it seemed to be the opinion that the same should made. The city treasurer's monthly read follows: Total Ball. 59,875.03 Ball. banks follows: First National Bank 13,251.91 Carson National Bank Auburn State Bank *Nemaha County Total *Readers should showing the column make the books the Nemaha County Bank, failed. The actual money on hand The city attorney was instructed notify the city treasurer to claim with the received of the Nemaha County Bank for the sum of $35,168.73. resolution from the accompanied by an ordinance closely fashioned after the ordinadopted in Omaha few months regulating, or rather ago abolishing fireworks, read and met with cold shoulder Only one alderman appeared to be impressed with its importance. The matter not acted all. long list names was read from the south part of the ing the council that the "no parking of trucks" ordinance about the court house be repealed. The matwas given considerable discussion, but finally just for the time being. Complaint was made to the about the little lunchcounter north street being moved back the road, and Tom Stewart authorized to not permit the the same over their property line. chief of reported 50 The police pumps and revenue collected from of them to date, $67 come in. The chief also notified the council that his day would start Wednesday and cation the with the approval of same met council. City water commissioner to the council that call plained four customers on west street had been filed with him. little discussion the matter authorized ahead with go work. The total project will cost the $400 and the estimcity ated income will be per year where from $60 to $75. report was also made by about the condition standpipe and the probable (Continued Page Column Treasurer's report: General fund Water 4,297.76 Street 3,510.09 Fire Dept. 342.79 Co's. 1,526.89 Light 6,154.95 Libraryy 1,091.2 Sewer 1,156.76 Band 27.38 Pav. Dist. and 2,242.25 Pav. Dist. 2,914.81 Pav. Dist. 6,495.30 Water Int. Sink 2,869.75 Int. Sink 5,407.80 Light Bond Sink 703.00 Water Bond Sink 3,197.54 Sewer Bond Sink 260.57 Pav. Dist. 27.99 Gravel Dist. 334.33 Gravel 530.98 Gravel 98.07 Gravel 279.25 Gravel 89.47 Gravel Dist. 271.83 Gravel Dist. No. Water Extension bond Water Extension 3,145.98