Bank of Eagle - Eagle, NE

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: *
Location: Eagle, Nebraska (40.817, -96.430)

Metadata

Model: gpt-5-mini
Short Digest: f91d16ea

Response Measures

None

Description

Article discusses a closure of the Bank of Eagle (days later the bank was closed) and that it was reorganized months later. No mention of depositor runs; the piece is about a legal dispute over tracing funds. Dates of closure and reorganization are not given in the excerpt.

Events (3)

1. * Other

Newspaper Excerpt: months later reorganized. The First after ad refused return draft ... Bank Eagle could not comply with the demand on turn the draft, because it did not ... months later reorganized.
Source: newspapers

2. * Reopening

Newspaper Excerpt: months later reorganized.
Source: newspapers

3. * Suspension

Cause Details: Article gives no reason for the closure in the excerpt; context is a legal dispute over tracing collected funds, not a depositor run or government action.
Newspaper Excerpt: days later the bank was closed.
Source: newspapers

Newspaper Articles (1)

1. May 5, 1931 Lincoln Journal Star Lincoln, NE

Article from Lincoln Journal Star, May 5, 1931

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Article Text

VALIDITY WELLENSIEK Bank Says Effort to Release Creditor From Necessity of Tracing Funds the Wellensiek act, passed the 1929 session of the to with relation of collected bank into its assets order to them trust fund, was argued in before Searle Chapin Lindrew sight draft with bill lading St. and deposited with the Bank Eagle. The later posited with First National Lincoln, with other items, and later drew out nearly all its there. days later the bank was closed. months later reorganized. The First after ad refused return draft the comelecting its pany, holder without notice under the 1929 law. Bank Eagle could not comply with the demand on turn the draft, because it did not The issue was whether the Eagle bank accepted the draft for collection as agent, or whether by reason its havbeen became the owner and thus the situation debtor creditor created. company contends that lationship principal and agent changed, either by of the initial credit granted to nor the right withdrawal. had overdraft and extinguished by the deposit. attorneys argued assets of the Bank that the impressed with trust Eagle are favor for the amount of the of whether proceeds, irrespective representing such item the traced and identified can of assets or has part termingled converted of the citing the other assets authority for this con1929 law This law the nectention. of the funds and essity tracing against gives the failed bank. This assets based the theory of unjust on that principal enrichment The attorney and agent. law failed to meet that the of requiretest form. The ments that never attorney says other than for posited the by the not of the bank.