Bank of Cheney - Cheney, NE

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: September 1, 1930*
Location: Cheney, Nebraska (40.726, -96.596)

Metadata

Model: gpt-5-mini
Short Digest: 69c4af42

Response Measures

None

Description

Article (Omaha Bee-News 1930-11-04) reports the State Bank of Alexandria had closed in September by its directors and reopened in early November after a reorganization in which depositors agreed to take a 60% interest in salvaging assets. Closure appears to have been a voluntary suspension by directors and reorganization rather than a depositor run or government action. OCR errors in the article (missing dates/words) corrected where obvious.

Events (3)

1. September 1, 1930* Suspension

Cause: Voluntary Liquidation
Cause Details: Bank closed by its directors in September and entered reorganization; small volume of business cited for other nearby bank liquidation, suggesting voluntary suspension/reorganization rather than a run.
Newspaper Excerpt: The Alexandria bank closed its directors Sept.
Source: newspapers

2. November 3, 1930 Reopening

Newspaper Excerpt: The new bank ... opened organization and business Monday by the State Bank of Alexandria ... opened capital ... was the 41st closed bank reopened under the law enacted in 1929.
Source: newspapers

3. * Other

Newspaper Excerpt: Depositors have agreed to devote 60 per cent their accounts to the purchase of undesirable The remaining 40 per cent ... is available to account holders.
Source: newspapers

Newspaper Articles (1)

1. November 4, 1930 The Omaha Morning Bee-News Omaha, NE

Article from The Omaha Morning Bee-News, November 4, 1930

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Article Text

DEFUNCT BANK REOPENS LINCOLN. Nov. ganization and business Monday by the State Bank of Alexandria was by State Bank Woods. The Alexandria bank closed its directors Sept. Depositors have agreed to devote 60 per cent their accounts to the purchase of undesirable The remaining 40 per cent, Wood said, is available to account holders. The new bank, headed by George Steele, M. Cory, vice Rothmeier, cashier, and Nellies M. Moore, assistant cashier, opened capital amounting to stated. was the 41st closed bank reopened under the law enacted in 1929. The commissioner also announced that the bank of Cheney, near Lincoln, had dertaken liquidation Monday, its resources and deposits to the Union bank College View, where depositors will be paid The Cheney bank. Mr. Woods said, was solvent and solely because of the small volume of business available.