13058. Farmers State Bank (Glenvil, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 1, 1932*
Location
Glenvil, Nebraska (40.504, -98.253)

Metadata

Model
gpt-5-mini
Short Digest
6896a1ab

Response Measures

None

Description

Articles (July and August 1932) refer to the Farmers State Bank as failed and discuss a receivership case decided in district court. No article mentions a depositor run; the bank was in receivership and effectively closed. Cause inferred as bank-specific problems (improper stockholders' notes, asset deficiencies) discussed in the receivership litigation.

Events (2)

1. July 1, 1932* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank described as 'failed' and receivership litigation concerns classification of stockholders' notes and asset deficiencies; indicates bank-specific insolvency issues.
Newspaper Excerpt
Miss Mary Smith left Sunday evening for Glenvil, Neb., where she is employed in connection with the failed Farmers State Bank.
Source
newspapers
2. August 11, 1932 Receivership
Newspaper Excerpt
Judge James ... rendered his decision the receivership case of the Farmers State Bank of Glenvil, Nebraska ... ordered the claims of the receiver disallowed and the intervenors' notes classified as preferred claims against the bank. The receiver notice of appeal ... was allowed forty days ... .
Source
newspapers

Newspaper Articles (2)

Article from Superior Weekly Journal, July 14, 1932

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Article Text

LOCAL AND PERSONAL Americans sent $39,000,000 abroad in missionary, educational and charitable contributions last year but did not receive any such donations from foreign lands, the commerce department announced. -For trade 160 acre farm for town property. L. LARSON, Superior, Neb. Miss Laverda Elledge and Miss Georgene Peterson returned to Council Bluffs, Ia., Friday morning after a visit at the home of the former's sister, Mrs. Everett, and family. -For sale cheap, a fine 5-foot oak. glass show case. Inquire at Journal office. Mrs. D. C. Coulson entertained twelve little guests to a party Monday afternoon in honor of her daughter, Margaret's, sixth birthday. The afternoon was spent playing games. Margaret received many nice and useful gifts. At the close of the refreshments. consisting of ice cream, cake and candy. -House for rent, all modern, close in. H. A. Hogue. Mrs. James Murphy and daughter, Miss Eva, spent Sunday at the home of her son, Everett, and family, in Superior. -A practically new house for rent. 300 feet of ground and a good garden. F. W. ABBOTT. Miss Mary Smith left Sunday evening for Glenvil, Neb., where she is employed in connection with the failed Farmers State Bank. She expects to be gone ten days. Mr. and Mrs. Russel Van Ornam of Bairoil, Wyo., arrived Sunday for a visit with the latter's prents, Mr. and Mrs. Nels Nelson. -Family Washing to do at home. Phone 315J. P. Omen drove to Menasha, Minn., to get his wife and her mother. They returned Sunday night. They will make their home at the Hansen home on East Third street. -You can't expose every finish to the weather as you can Cook's Rapidry Enamel, a tough, durable finish. VALLEY LUMBER CO. Dwight Scott of Downs, Kan., is here visiting this week at the H. E. Register home. This is the limit. Congress last week turned down the grasshopper eradication bill, a very worthy cause, then votes $125,000 for a painting of Woodrow Wilson and also voted $150,000 to pay the carfare of the soldier boys, who do not want it, but want the bonus, recently defeated. Are Congress and the administration really. contemplating political suicide? -Nice house enameled lined refrigerator for sale. F. M. SWEET. Miss Warburton, who had been here visiting her sister, Mrs. Wm. Wishart, and family, left Monday morning for her home in Chicago. -For sale: White enameled Kitchen Kook gasoline range. Call 242W. -Leave your bundles at Monty's Barber shop for Tarter's Home Laundry or phone 496. Mr. and Mrs. E. E. Murphy and children returned last Wednesday from a visit with the latter's cousin, Mrs. B. Baughn, in Centralia, Kan. -You want large pullets ready to lay lots of eggs next fall. It takes a good balanced ration to produce results Double B. Brand feeds are balanced and will produce large healthy, sturdy bodies in the shortest possible time. Use Double B Brand feeds. We guarantee results. BOSSEMEYER BROS. K. H. Persson spent the first of the week visiting his folks near Abdal. Mrs. Blevens and son, James, who had been visiting her mother, Mrs. Wm. Reilly, left Sunday for their home in Hiawatha, Kan. Three liquor cases have been brought to the attention of Sheriff Fall and County Attorney Weltmer since June 1, all have been apprehended and are now doing time. Langdon, from Esbon, who took possession of Bruce Justice's car and wrecked it while intoxicated, was given thirty days for driving while drunk. McCutcheon, who wrecked a car on Highway 36, near the Carl Braderick home, and was sitting on the car cushion, with liquor in his possession, "was stricken with appendicitis and taken to Belleville for an operation, recuperated enough that he was given thirty days and $100 and is now in the Hotel De Jewell, and Landlord Fall also has another boarder as a result of the apprehension of one C. Miller whom they picked up last Saturday just as he was all fixed for the Fourth, with stuff he had made himself. Thirty days and $100 said the judge and now he is enjoying the hospitality of the County Hotel.


Article from The Harvard Courier, August 11, 1932

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Article Text

Has Short Session Of District Court Judge James Presided Over Session and Closed March Term, With Following Decisions District Judge James was in Clay Center Wednesday and held session district court, disposing of number ex-parte matters before closing the March term of court, and rendered his decision the receivership case of the Farmers State Bank of Glenvil. Nebraska, which case was heard before him district court on May 9th, relative to certain claims filed. and taken under advisement. As to claim of Gembler in this case, who sought to recover back an over-payment of certain sum paid the receiver on certain notes he owed the bank, Judge James found that through mistake Gembler had paid the receiver the sum of $91.13 more than he owed the bank and that amount was ordered lowed preferred claim to be paid full. And in the matter the objections of John R. Peters, RemJohnson and U. Ocker to the receiver's report and classification with reference off-sets against indebtedness owing these objectors and intervenors by the Farmers State Bank, the receiver contended that certain stockholders' notes were part the assets of the bank, while the intervenors contended that they were accomodation notes, no ing ever passed from the bank the makers of the notes, and that they were made for the purpose of balancing the books and were never to be paid by the makers. Judge James ruled against the contention of the receiver that the notes were assets of the bank. and ordered the claims of the receiver disallowed and the intervenors' notes classified as preferred claims against the bank. The receiver notice of appeal in open court and was allowed forty days from the rising of the court to prepare and present Bill Exemptions. the foreclosure case of Bertha Wood. head against Everett Landgren, et Luikart as receiver of the Exchange Bank of Ong, Nebraska, was granted deficiency judgment in the sum of with interest per cent. In the divorce action of Schmidt against Maude Schmidt which (Continued on Page Five)