13002. State Bank (Edgar, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 12, 1934
Location
Edgar, Nebraska (40.372, -97.971)

Metadata

Model
gpt-5-mini
Short Digest
a56869ff

Response Measures

None

Description

Newspapers (Nov 1934) refer to the two 'closed Edgar banks' and a receiver (Luikart) applying for RFC loans to liquidate assets. No run is mentioned; the banks are in receivership and seeking RFC loans to liquidate assets, indicating suspension and closure/receivership due to insolvency.

Events (2)

1. November 12, 1934 Receivership
Newspaper Excerpt
State Bank Receiver Luikart ... approved an application ... for loans from the Reconstruction Finance Corporation ... to permit the receiver liquidate the assets of each bank in an orderly manner pledging the assets as security and These were the only two banks in Edgar.
Source
newspapers
2. November 12, 1934 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Banks are described as 'closed' and a receiver has been appointed; receiver applied for RFC loans to permit orderly liquidation of assets and avoid forcing stockholders to sacrifice holdings.
Newspaper Excerpt
approved an application of State Bank Receiver Luikart for the two closed Edgar banks, the State Bank and the Clay County Bank for loans from the RFC
Source
newspapers

Newspaper Articles (2)

Article from The Hastings Daily Tribune, November 12, 1934

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Article Text

Edgar Banks Apply for Loan RED CLOUD, Nov. applications by the receiver. Luikart of the Clay County State Bank and the State Bank of Edgar. both of Edgar, for license to secure loan from Recon struction Finance Corporation. and pledge the assets of the banks security, were approved by District Judge Frank Munday here Saturday morning The amount of the loans applied for by the receiver for the former bank the lat ter $54,000. The purpose of these Camels loans as shown in the to permit the receiver liquidate the assets each bank an orderly manner pledging the sets, and to permit these assets be realized without forcing the other popular debtors of the banks. These the only two banks in Edgar.


Article from The Harvard Courier, November 15, 1934

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Article Text

FIVE MINUTES WITH THE REST OF THE WORLD (Continued from Page One) crease over that of the last biennium. Their totalbudget says that they need care of inmates and various state institutions under their control, which means an increase of $2,784,630. Red Cloud. Nebraska-District Judge Frank J. Munday approved an application of State Bank Receiver Luikart for the two closed Edgar banks, the State Bank and the Clay County Bank for loans from the RFC .80 that the stockholders will not be forced to sacrifice their holdings to clean up bank debts. The loans were for $54,000 and $32,000 respectively. St. Paul, Nebraska - Restaurant keepers of this city claim there is a shortage of eggs in this city. One eating house proprietor told a customer this last week when eggs and bacon were ordered that he hadn't seen an egg for a week and had been unable to purchase any. He laid the egg famine to the small number of chickens in that section of the state. Cambria, Wis-A telephone girl of this city thwarted six bank bandits who terrorized the citizens of the town, cut all telephone wires, and set off three charges of explosives in the bank of Cambria in an effort to open the vault door. Erna Rousch, the phone operator threw in the fire siren switch which called the townsfolk out in a hurry. The bandits fled when they saw what had happened without getting any loot. Amarillo, Texas Ranchers and feeders of this section of the Panhandle, are faced with the possibility of purchasing millions of dollars of feed and fodder for their work stock and ranch cattle this winter according to news dispatches from the south. There are approximately 1,- 060,800 head of cattle and 199,550 head of work stock to buy feed for during the winter. "It is expected that the total cost will run close to $10,000,000. Rome. Italy Premier Mussolini in his recent announcement of the establishment of the new corporative state, says that work will be made compulsory for all able bodied citizens of the state, including the scions of famous families of other years. The new regulations appear attned at the old landed aristocracy, who the Premier says is loafing around in deluxe hotels while their possessions are in the hands of hired adminis-