13042. Union National Bank (Fremont, NE)

View Charter #3188 on SPMC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3188
Charter Number: 3188
Start Date: February 23, 1933
Location: Fremont, Nebraska (41.433, -96.498)

Metadata

Model: gpt-5-mini
Short Digest: d13b207f

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-02-13
Date receivership terminated: 1937-09-24
Share of assets assessed as good: 24.7%
Share of assets assessed as doubtful: 69.5%
Share of assets assessed as worthless: 5.9%

Description

Articles describe appointment of a receiver and the bank as closed/failed; no article describes a depositor run prior to suspension. The sequence is a government-appointed receivership/closure (receiver appointed Feb 1933) with later dividend distributions in late 1933 and 1934 and RFC loan to the receiver. OCR errors in articles corrected (e.g., 'Union tional' -> 'Union National').

Events (8)

1. May 21, 1884 Chartered

Source: historical_nic

2. February 13, 1933 Receivership

Source: historical_nic

3. February 23, 1933 Receivership

Newspaper Excerpt: George Austin ... has appointed receiver of the Union National bank, Fremont, and has assumed his ... will be to liquidthe bank business like manner ... liquidating the bank ... will take about thirty days ... shape affairs of the institution ... the receiver permitted to employ ... before the policy to be followed liquidating the bank can be determined.
Source: newspapers

4. February 23, 1933 Suspension

Cause: Government Action
Cause Details: Comptroller-appointed receiver; bank placed in receivership/closed by federal banking authorities and a receiver assumed control.
Newspaper Excerpt: Union National Bank Receiver is Appointed
Source: newspapers

5. July 25, 1933 Other

Newspaper Excerpt: Dispatch Says Depositors Seek Retention of Austin in That Capacity ... protest the reported prospective removal of George S. Austin ... depositors of the institution will meet ... to retain Austin as receiver ... Arthur F. Mullen ... had stated that a general shakeup of national bank receivers in Nebraska was under way.
Source: newspapers

6. November 3, 1933 Other

Newspaper Excerpt: Closed Fremont Bank Dividend Due Soon ... Nov. dividend depositors the closed Union National ... expected within three weeks ... The dividend 25 per ... checks being mailed ... Washington they be rechecked by the comptroller currency.
Source: newspapers

7. April 30, 1934 Other

Newspaper Excerpt: FREMONT BANK TO PAY 40 PER CENT DIVIDEND ... checks for $143,195 to pay 40 per cent dividend depositors will distributed soon. This will bring the total amount returned to 65 per cent.
Source: newspapers

8. May 18, 1934 Other

Newspaper Excerpt: The table of loans to closed bank receivers includes ... Fremont, The Union National Bank of Fremont, $85,000.
Source: newspapers

Newspaper Articles (9)

1. February 23, 1933 The Schuyler Sun Schuyler, NE

Article from The Schuyler Sun, February 23, 1933

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Union National Bank Receiver is Appointed George Austin, for the past 16 months receiver for the First National bank of Auburn, has appointed receiver of the Union National bank, Fremont, and has assumed his Austin said his policy would be to liquidthe bank business like manner and indicated that might be three or four years fore liquidation could be completdepositors who wonderabout how long will be fore dividend could be paid said no announcement could made at this time. "Payment would depend upon collections and every effort will be made to collect notes as rapidly possible,' will take about thirty days shape affairs of the stitution with the small force the receiver permitted to employ before the policy to be followed liquidating the bank can be determined.

2. July 21, 1933 The Lincoln Star Lincoln, NE

Article from The Lincoln Star, July 21, 1933

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APPOINTING NEW BANK RECEIVERS Mullen's Cause Shakeup In Employes. general shake-up in receivers of Nebraska's national banks ported under today Arthur Mullen Omaha, Nebraska's democratic for the First National Bank Alliance First Union National bank Fremont have been removed. Mullen said and Edgar Howard had removal of the for the First National at to the way ceivers banks since last March,' Mullen said. Some been on partisan basis. Our assure fair handling of trusts Edgar Marlo of Hemingford was Alliance, Torgeson. Becher of Columbus was appointed Fremont replace George Austin. Harry Hundley of has to Love Craig. No change Craig but Mitchell Gantz will replace Boyd and Metz and Mapes the present attorneys at Mullen said he was informed the changes conference with Comptroller of the Currency O'ConMullen predicted more revisions in the near future.

3. July 25, 1933 The Columbus Telegram Columbus, NE

Article from The Columbus Telegram, July 25, 1933

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July Clearance Sale USED CARS Nielsen Chevrolet Co. Miss Helen Kent left last evening Scottsbluff where she will visit few days with relatives and ends. Permanent Wave, $1.75. 11 7156, Schrunk's Beauty Shop. Mr. and Mrs. E. C. Kerr. of St. Iward. motored here this mornvisit on business and also th friends. Miss Rose Ehrenberger and John onka, of Schuyler, were in the this afternoon on business and siting with friends. Cream for Pienics. Call Teller's. Mrs. William Cook, Mrs. Frank idat and Mrs. La Cashman ove to Omaha this morning to end the day on business. Mr. and Mrs. E. E. Smith and n, Scott. of Keokuk, Ia., arrived yesterday for week's visit the home of C. Jones, and his iter, Miss Marybelle Jones. ione Teller's 7129 We Deliver. Misses Jean and Joan Davies Irl Bechtol and James Turpit, of and Island, and Frank Higgins, Schuyler were Sunday guests at the home of Miss Eve!yn Fred Albert and his sister-inMrs. Warren Albert, drove to ncoln this afternoon. Mr. Albert ent the day on business. and rs Albert visited with her fathA. Cunningham, of Imperial, 10 is visiting with relatives there THERMIQUE the perfect perment, complete. Fully guarteed. Hinck Beauty Shop, operhere 1922. blocks rth of Court House. Phone 4647. 86tu-th tf Misses Madge and Marian Axrd returned from Osond, McLean and Magnet, Neb., here they had been for several eeks conducting bible classes. hey were accompanied here by iss Verla Weik, Marian Cizand Miss Dorothy Friday, all of smond. who left today for their mes after brief visit. Mrs. Krueger will be with their mother, Mrs. Leopold Jaeggi. Mrs. Leo Paprocki and Miss Eva Thomasevic visited with friends in York Monday. Mrs. O. J. Kropatch and son, William, of Osceola, were in the city today on business. Miss Hazel Grabe, of Lincoln, is heere spending several days with her brother-in-law and sister, Mr. and Mrs. Walter Nevy. Bernard Roby, of Belgrade, left this morning for his home, after enjoying a brief visit here with his sister, Mrs. C E. Wells and Mr. Wells. Mrs. J. F. Kirkpatrick, Mrs. A. H. Backus and Miss Virginia Dickey drove to Omaha this morning to spend the day with relatives and friends. Mrs. Edna Davis and children, Betty and 'larice, returned yesterday to their home in Grand Island, following week's visit here with Mrs. S. E. Closson. Mrs. Dan Scott and daughter, Margaret, of Atkinson, Mrs. Francis Wagner, of Norfolk, drove here this spend the day attending to business. Harold Ingalls, of Shelby, visited here Sunday with Mrs. Ingalls, who is patient at the Good Samaritan hospital, and also at the home of Mr. and Mrs. C. L. Dickey, jr. Dr. and Mrs. G. Clark will return this evening from Belleville, Kan., where they have been visiting for days with Mrs. 'lark's aunt, Mrs. Charles Sanford. Mrs. Paul Herpolsheimer and daughter, Doris, returned Sunday from Fremont where they spent two weeks at the home of Mrs. Herpolsheimer's mother, Mrs. J. Gnuse. Miss Doris Bennett, of St. Edward, came here the first of the week to visit for several days with Miss Davida Walters, at the home of her parents, Mr. and Mrs. H. Walters. Wendell Walters, Milton Plum- Arthur Mullen in which he said mer. Francis Shank and Harry that the comptroller had announced Lutz left Saturday evening for Chi- my appointment receiver of the cago, where they will spend week Union National at Fremont and that 10 days attending A Century of within few days would receive Progress Exposition. instructions from the comptroller. Miss Elizabeth Prince. M. V. troller, but whether will be asWhite Mr and Mrs. R. D. Mc- signed the receivership of the bank Wha and Mr. and Mrs. Carl Rora- at Fremont or somewhere else, baugh, all of Grand Island, visited have no means of knowing. except here over the guests what Mr. Mullen mentioned in his of Dr. and Mrs. J. North Evans. letter. and the further fact that Mr. and Mrs. Herbert Herpolsheimer and son, Ronald, of Seward, came here the first of the week to spend this week at the home of his brother and sister-in-law, Mr. and Mrs. Paul Herpolsheimer. Mrs. Maurice Ahres and daugh- city, Mr. Becher said he knew nothter. Isabelle, Mrs. Ida Bonner, Mah- ing about that and did not care to lon Bonner. and Miss Gladys re- make any comment about it. turned the latter part of last week from Allen, Neb., where they visited at the home of Mr and Mrs. E. LINCOLN DRYS OPEN V. Price Miss Evelyn Bonner. who accompanied them. remained there DRIVE FOR PETITION for a longer visit with her sister. Mrs. R. H. Heynen and daugh- Lincoln, July 25 (LP) Lincoln Paddy and Mrs. mothMrs. Hans Hansen, of Los An- day for last ditch fight against geles. who is spending the summer legalization of 3.2 per cent beer as in Nebraska. drove to Aurora to- the regulatory ordinance passed yesterday by the city council was day. Mrs. Heynen and daughter will return this evening and Mrs. to go into effect this afternoon. Hansen will remain there for two- prohibition emergency comweeks' visit her Mrs which Rev. Ira Kingsley Fred Harrison, and Mr. Harrison. chairman. rapidly complet-

4. July 25, 1933 The Columbus Telegram Columbus, NE

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FOR RECEIVER OF BANK AT FREMONT Dispatch Says Depositors Seek Retention of Austin in That Capacity Fremont, July 25 protest the reported prospective removal of George S. Austin of Orleans as receiver the Union National bank here, depositors of the institution will meet at the chamber of commerce here tonight. Tonight's meeting is a second step in campaign of depositors to retain Austin as receiver. They recently telegraphed the comptroller of currency at Washington, D. C., asking that he be retained and praising his "efficient and economical administration" of the bank's affairs. Reports from Washington recently that Austin might be removed. It said at that time that Arthur F. Mullen, democratic national committeeman from Nebraska, had stated that a general shakeup of national bank receivers in Nebraska was under way. D. A. Becher of Columbus was mentioned as possible successor to Austin as receiver of the bank here. Informed of Appointment Former Mayor D. Becher. who was for many years president of the Commercial National bank, declined to comment on the subject matter of the foregoing dispatch from Fremont when shown it today, but confirmed the report that he was expecting orders to take over the receivership of the Union National at Fremont. "All know about it," he said, "is that received a letter from Congressman Howard on Sunday saying that the comptroller of the currency had stated he would appoint me receiver of some national bank, and later letter from am awaiting word from the compreceived a letter today from N. H. Mapes, of Fremont. attorney for the receivership, congratulating me on my appointment.' As for the effort apparently being made by Mr. Austin's friends among the depositors at Fremont to have him retained in that capa-

5. July 26, 1933 Fremont Tribune Fremont, NE

Article from Fremont Tribune, July 26, 1933

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PROTEST MADE REMOVAL AGAINST BANK RECEIVER Depositors Organize for Campaign; Charge Political Move Plans for an organized protest against the removal of George Austin, Orleans, receiver for the Union National Bank were made by large number of depositors at meeting in the Fremont Chamber of Commerce rooms yesterday evening A permanent organization was formed. with George Lillie as chairman and Reynolds retary Requests were signed asking that Austin be retained. These requests will be sent to the comptroller currency. Suggestions were made that the protest prosecuted vigorously and that the matter be taken the president of the United States necessary The requests were worded as follows: "The undersigned depositors of the Union National bank of Fremont. Nebraska, in the amounts set opposite respective names, do respectfully show the Comptroller of Currency. that the conduct the receivership of said bank George Austin has been for the best interests the depositors, that he has ably. energetically im partially administered the affairs said receivership and enforced the rights the depositors of the bank and his removal would highly prejudicial rights and and interests as depositors "Where, as in this case, the trust has been capably for over five and months any change by which able honest and receiver removed can not do otherwise than result our prejudice 'We respectfully request and urge the retention and George Austin as receiver of this bank Removal Was Surprise was made last week by Arthur Mullen, of Omaha national from that he had been informed of the removal of Austin and the Becher. of Columbus receiver The came surprise depositors of the who were any change was con templated was said at the meeting that the only against the ad the the bank had been made by H Mapes attorney for the receiver who reported to have charged that Austin did not with him Those who defended the ceiver said that Austin cut down expenses of has making believing should do this as possible rather than cause expense by turning the work over His has money for the depositors, was said Lillie asked any other complaints had made When others forthcoming Lillie and other speakers branded the change in receivers one for political poses only They objected to making the ceivership of the bank "political complaining that their interests as stockholders were not best served removal of petent efficient receiver for political reasons Lillie presided when the meeting opened asked for nom chairman Widhelm nominated him and called for was unanimous Ray nominated Reynolds as secre tary the Reports of Receivership Lillie read reports of the admin istration the receivership to date Of owing to federal reserve and other banks at the time of closing the bank has paid and only in prin cipal interest remains, stated Austin as receiver has collected which $33,000 was obtained from stockholders double liabilities from other sources such as notes and interest There cash on hand other banks now reported and arrangements are being made collect number notes which will be good in time Lillie said was surprised at the small cost the receivership under Austin's administration The total including bank examiners expense of closing supplies postage attorney fees. receiver salary etc has been $3,313.79 Of this amount more than $600 went to examiners for the expenses of closing which made the total expense since Austin took charge only about was surprised myself to learn this Lillie said had suupposed bank receivers were $10,000 year men and the cost was higher Referring to the report he asked "Do want to permit change this He said Austin has collected more than $4,000 in interon notes Calls Austin Efficient Cook recommended that the protest be taken to the president the United States necessary did not think politics had anything do with the administration the affairs of bank." he said He told of his close association with Austin while served as attorney for the receiver. Cook was removed from this postiion some time ago and Mapes appointed attorney Cook said Austin has been adaffairs of the receivership as possible Discussing his collection notes and other papers rather than turning them an attorney Austin making the collections without extra expense court litigation was started to collect, expense would be caused and delays would result. Cook stated. change in receivers will mean delay in the receivership and therefore delay in pay-

6. July 26, 1933 Fremont Tribune Fremont, NE

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ments to depositors, Cook added think outrage to this institution as political football he continued emphatically our own interests to retain man who has handled his work so efficiently and made such wonderful success Is there any reason other than political why Austin should The depositors signed the requests at the close of the meeting COLUMBUS NEB July Becher former of lumbus mentioned possible cessor George Austin as ceiver of the Union National bank of Fremont was today awaiting word from the of cur Washington to determine his exact know about he said have received letter from Edgar Howard that the comptroller had stated would appoint me as receiver of some national bank have also later letter from Arthur Mullen that had been the Union National at Premont and that few days would receive from Washington Becher declined to comment on efforts depositors of the bank to retain Austin as know nothing about that," he Becher served president of the Commercial National bank here for many years

7. November 3, 1933 The Omaha Morning Bee-News Omaha, NE

Article from The Omaha Morning Bee-News, November 3, 1933

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Closed Fremont Bank Dividend Due Soon Nov. dividend depositors the closed Union tional Wednesday, expected within three weeks, bank said Thursday The dividend 25 per Becher the pay received word Wednesday that checks being mailed from Amount filled in the checks returned Washington they be rechecked by the comptroller currency.

8. April 30, 1934 The Omaha Evening Bee-News Omaha, NE

Article from The Omaha Evening Bee-News, April 30, 1934

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FREMONT BANK TO PAY 40 PER CENT DIVIDEND Becher. for the failed Union National bank here, Monday said checks for $143,195 to pay 40 per cent dividend depositors will distributed soon. This will bring the total amount returned to 65 per cent.

9. May 25, 1934 Star-Herald Scottsbluff, NE

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FAILED BANKS GET R. F. C. CASH LOAN Washington, May 24. (P)-Receivers of closed Nebraska banks were' authorized to borrow $2,022,653.43 from the Reconstruction Finance corporation between February 2, 1932, and May 18, 1934, Jesse H. Jones, chairman, reported today. The largest individual loan authorized in Nebraska was $175,000 to the Farmers State Bank of Columbus. The Farmers State Bank of Kearney borrowed $141,750. and the Norfolk National bank received $130,000. Besides the loans to closed bank receivers, the RFC also authorized a loan of $50,000 to the Fremont Mortgage company. The table of loans to closed bank receivers includes Auburn. First National Bank of Auburn. $26,000 First National Bank of Auburn. $23,000. Aurora. Fidelity State Bank, $49,675. Columbus, The Commercial National Bank Columbus, $60,000; Farmers State $175,000. Fremont, The Union National Bank of Fremont, $85,000. Holdrege Phelps County Bank, $50,000. Hooper, Hooper State Bank, $40,000. Litchfield, The First National Bank of Madison. The First National Bank of Madison, $83,000. McCook Farmers & Merchants State Bank, $26,000. Norfolk, The Norfolk National Bank, $130,000 Platte Center, Platte County Bank, St. Edward The Smith National Bank of St. Sterling, First State Bank. $31,000. West Point. The Point National Bank, $50,000; West Point National Bank,