Closed Bank Receiver Announces Dividends
-Payment of dividends to depositors in three closed North Dakota banks was announced today by the state bank receiver Ten per cent dividends were paid to depositors of the State bank of Abercrombie and the Luvern State bank. and 20 per cent on the State bank of Page All payments were made by O. Engen, district manager for the receiver at Fargo.
2.January 18, 1930The ForumFargo, ND
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Depositors of Three Banks Get Payments closed North banks today the state receiver. Ten dividends paid to of the State Bank Abercrombie and the Luthe ments district manager for the receiver at Fargo.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.