Farmers & Merchants Bank

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: October 21, 1929
Location: Edison, Nebraska (40.277, -99.777)

Metadata

Model: gpt-5-mini
Short Digest: af55719b

Response Measures

None

Description

Article (The Edison Echo, 1929-10-24) reports the Farmers & Merchants Bank 'reopen' and describes a reorganized/new stock and surplus after removal of 'doubtful assets.' The article does not mention a depositor run; therefore I classify this as a suspension (or temporary closure/reorganization) followed by reopening. Reopening occurred Monday before 1929-10-24 (i.e., 1929-10-21).

Events (2)

1. October 21, 1929 Reopening

Newspaper Excerpt: The doors of the Farmers & Merchants Bank were opened for business Monday morning. Since than business has been carried on in the usual way. A large number of deposits have been made at the bank this week,
Source: newspapers

2. * Suspension

Cause Details: Bank underwent reorganization; doubtful assets removed and new stock/subscribed — article does not state specific cause or government action.
Newspaper Excerpt: Since all doubtful assets of the old bank have been removed it makes the new bank one of the strongest and safest banks in the county.
Source: newspapers

Newspaper Articles (1)

1. October 24, 1929 The Edison Echo Edison, NE

Article from The Edison Echo, October 24, 1929

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Article Text

Farmers and Merchants Bank Reopen The doors of the Farmers & Merchants Bank were opened for business Monday morning. Since than business has been carried on in the usual way. A large number of deposits have been made at the bank this week, The new stock and surplus have been subscribed by men who are large owners of land in this community. Since all deubtful assests of the old bank have been removed it makes the new bank one of the strongest and safest banks in the county. Merlin Garey, the new eashier. is willing to serve the people of this community in all ways that are consistent with good banking. Unless you have already done so, we suggest that you call at the bank and become acquainted with Mr. Garey. Lyle Bottrel has been appointed to the position of assistant cashier He is very competent for this position and hss many friends congratulate him on his new advancement. The following have been elected as officers and directors of the new institution: G. E. Fritzer President J.C. Sanderson Vice-President Clyde Paine Director Eige Bard Director Aug. Warner Director Thanks for that item