Franklin Exchange Bank - Franklin, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 16, 1931
Location: Franklin, Nebraska (40.096, -98.953)

Metadata

Model: gpt-5-mini
Short Digest: fe98eeb1

Response Measures

None

Description

Article (Hastings Daily Tribune, 1931-10-16) states the Franklin Exchange Bank announced suspension of business and assets were turned over to the Department of Trade and Commerce for liquidation. No run or depositor panic is reported. Likely a state-level receivership/liquidation.

Events (1)

1. October 16, 1931 Suspension

Cause: Government Action
Cause Details: Bank suspended and assets turned over to the Department of Trade and Commerce for liquidation (state receivership).
Newspaper Excerpt: Officers of the Franklin Exchange Bank, of Franklin, today announced suspension of business by that institution. Assets of the bank have been turned over the the department of trade and commerce for liquidation.
Source: newspapers

Newspaper Articles (1)

1. October 16, 1931 The Hastings Daily Tribune Hastings, NE

Article from The Hastings Daily Tribune, October 16, 1931

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Article Text

TICKET SALES FOR BRYAN Junior Chamber to Aid in Road Opening ProgramCharity Football. Plans for the program to official ly celebrate the opening of the 12mile strip of paving running from Hastings west on the D. L. D., were discussed by Junior Chamber of Commerce members at their regular meeting Thursday. Plans were also made by the organization for the promotion of charity football game in Hastings between leading high school or college teams in the state. The game, If arranged, would be a post-season contest. Nothing definite can be formulated until later in the season, it was pointed out at the meeting Vern Allan, for the past year member of the board of directors, was elected to fill the office of vice president, in place of A. A. Hughes, who has resigned. He will be in active office until the close of the year. at which time new board of directors and officers will be elected. Special emphasis was placed on the good roads movement now under way in the state by officers of the organization at the Thursday meeting. The Junior Chamber went on record as favoring all possible good road activities FRANKLIN BANK QUITS LINCOLN, Neb., Oct. 16-(U.P)Officers of the Franklin Exchange Bank, of Franklin, today announced suspension of business by that institution. Assets of the bank have been turned over the the department of trade and commerce for liquidation. Deposits of the bank were ap proximately $125,000; capital stock $20,000 and the surplus $4,000. The president of the bank is P. Ness, H. J. Murray and A. Hayden are vice presidents and E. E. Murray is cashier.