13143. Horace State Bank (Horace, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 8, 1932
Location
Horace, Nebraska (41.543, -98.673)

Metadata

Model
gpt-5-mini
Short Digest
68622461

Response Measures

None

Description

Newspaper articles (Mar 8–9, 1932) report Horace State Bank was closed by its directors and turned over to the state Department of Trade and Commerce with R. M. Hauser in charge. Later (Dec 1932) the bank is referred to as failed in a court case. No article describes a depositor run prior to suspension.

Events (4)
1. March 8, 1932 Other
Newspaper Excerpt
Capital stock is $10,000, surplus $2,000, and deposits about $30,000. The officers are: President. T. J. Hansen and cashier, P. Leth.
Source
newspapers
2. March 8, 1932 Receivership
Newspaper Excerpt
Upon action of its directors, the Horace State bank was closed and turned over to the department of trade and commerce. R. M. Hauser will be in charge.
Source
newspapers
3. March 8, 1932 Suspension
Cause
Government Action
Cause Details
Closed by action of its directors and turned over to the state Department of Trade and Commerce; examiner/receiver assigned (R. M. Hauser).
Newspaper Excerpt
Upon action of its directors, the Horace State bank was closed and turned over to the department of trade and commerce. R. M. Hauser will be in charge.
Source
newspapers
4. December 20, 1932 Other
Newspaper Excerpt
Whether $2,096 derived from war risk insurance, deposited by guardian for an veteran of the World war in the Horace State bank which failed, funds of the and therefore first lien upon deposits, or is an ordinary deposit and the claimant must share with other depositors assets of the bank, was brought before the supreme court on appeal...
Source
newspapers

Newspaper Articles (3)
1. March 8, 1932 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, March 8, 1932

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Article Text

TWO STATE BANKS CLOSE Upon action of its officers and directors the Farmers State bank, Concord, suspended for the purpose of reorganization. Virgil S. Lee is in charge for the department. The capital stock is $20,000, surplus $1,000 and deposits about $150,000. The officers are: President, G. Rieth; vice president, E. J. Hughes, and cashier, C. S. Shesman. Upon action of its directors, the Horace State bank was closed and turned over to the department of trade and commerce. R. M. Hauser will be in charge. Capital stock is $10,000, surplus $2,000, and deposits about $30,000. The officers are: President. T. J. Hansen and cashier, P. Leth.

2. March 9, 1932 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, March 9, 1932

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Article Text

BLACKMAIL BLAME Edward Buhrman, Former Libory Cashier, Tells Story of Crime. Details of an alleged blackmail plot which wrecked the St. Libroy State bank, reduced his family to poverty and ended with his own imprisonment, were recited before the state pardon board Tuesday by Edward Buhrman, former cashier the bank. Buhrman, who claims to have been victim of "badger which caused him to embezzle between and $53,000 bank's mysteriously missing funds, commutation parole of his three consecutive sentences ten years imprisonment in the state reformatory for men. He was senSeptember, Smith E. Campbell, time Grand Island named by Buhrman who alleged blackmail against and received the embezzled funds. Campbell, serving one to ten years for forgery notes, following the failure of the bank, denies story. After dealCampbell, claims, he received phone call from at Island one evening. The woman asked that drive Grand Island to consult concerning some investments she wished make. Buhrman said he met the woand at her drove into the country While they parked in side road, he Campbell and discovered him compromising situation. Campbell, Buhrman said, threatened exposure to the young man's fiancee, and demanded $3,000 keep silence, and Buhrman complied with his demands. Buhrman told the board that under threat exposure his first defalcation the banking department, Campbell demanded additional funds which he promised to recover the "playing the board trade. Bank ered the shortage after it Buhrman's father, former state and of bank the time its failure, told board his sacrifice all of his property to reimburse the bank for losses. The young banker's brothers told of having to support the family. wife how she had given three children the care of her parents while secured employment Grand Island. Approximately letters together petitions have been received Buhrman's behalf. the other hand, more than hundred who stand to lose 30 percent of their total deposits, unwilling that he be released he tells different account where the money went. The board took ten seconds to grant Alvernon "Doc" Lytle formal pardon. He served more than year for Minden bank robbery which confessed cently another man. He was granted respite but was cessary, in order the pardon legal, that he appear before the board. the board During the afternoon to hear application Smith Campbell himself. expecting get his version of the leged blackmail story. He has always denied Buhrany way. Others to be heard: Pennitentiary robbery. Willow, William stealing. Roland and Mora, Buffalo, breaking and Washa, Perkins, Baker forgery. TWO STATE BANKS Upon action of its officers and directors the State bank, Concord, suspended the purof Virgil charge for the department. The capital stock surplus $1,000 and deposits about $150,000. The officers are: PresiRieth; Hughes. and cashier S. Shesaction of its directors, the Horace State was closed and turned the trade and Haucharge. Capital stock surplus $2,000, and deposits about $30,000. The President, Hansen and cashier, Leth.

3. December 20, 1932 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, December 20, 1932

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Article Text

Kerensky in Berlin ture and free land of its tax burden. It will not be an for party but will work thru the old party that 'more nearly the aims.' George W. Kline direct the organization efforts, Maher said. Postmaster Gillaspie said that unsealed Christmas are sent for one and one-half cents they are third class matter and will be handled not as first class mail. Third class matter, he said, not forwarded and is not returned without payment of further postage. It does not receive directory service and will be destroyed if undelivered. Every effort will be made to get it out of the office, said, but it cannot receive preferred treatment accorded first class A motion was filed by three former officials of the Lincoln Trust company Monday asking that petition made more definite in the suit by the First Trust company, trustees for bondholders of the Lincoln Trust company against Carl Carlsen, John Reichenbach, Paul Holm and William Melor for $45,000 on behalf of bondholders on mortgage handled by the Lincoln Trust company. Carlsen filed the motion to strike the petition from the claiming that it was not verified the officials the First Trust company as required by law. After completing the business of shoving snow from perhaps 450 miles of dirt roads within the corporate limits the street department reminds that there's considerable spread betwen cleaning city pavements and country highways. With the latter, snow is shoved to the ditch along side. If the city shoves snow from the street to the side, householders complain of mounds along the parkway. About the only way rid the city pavement of snow is to haul away. In cleaning dirt roads, however, the de- partment is able to ditch the white covering. of new arterials has completed with the exception of placing four along South street, the latter is now buttoned to 22nd. Whether $2,096 derived from war risk insurance, deposited by guardian for an veteran of the World war in the Horace State bank which failed, funds of the and therefore first lien upon deposits, or is an ordinary deposit and the claimant must share with other depositors assets of the bank, was brought before the supreme court on appeal by E. H. Luikart, bank The receiver had classified the claim to the extent of $345 as funds of the government and the balance, $1,751, not preferred claim Judge Clements of the district court of Greeley county held that the entire amount is money of the United States subject to its control until It reaches the beneficiary according to law, that the guardian is agent for the government and his authority over the fund limited and controlled by federal statutes alone. The guardian is Jacob Stam, acting for WilStam. R. H. Willis, chief of the Nebraska bureau of irrigation said he was studying proposals made at the tristate conference at Greeley, Colo., last week but without fuller details was unable to understand clearly what Colorado proposed. "Before Nebraska signs water compact, either for Colorado diversion or for Casper-Alcova project, want to make sure that provisions have been made for proper administration of the water protect prior rights of our irrigation districts. Willis said that in 1930, Wyoming refused to let water down Nebraska and turned it into Wyoming streams with late priorities while Nebraska districts with priorities back as early as 1885 went without water. Willis said he thought the of storage near the line, if built by states which would benefit, might be feasible. The reservoir had been suggested to provide for districts entitled to direct flow and substitute the storage water for the direct flow, permitting Wyoming to utilize the direct flow water.