13223. Loretto State Bank (Loretto, NE)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
September 12, 1929
Location
Loretto, Nebraska (41.765, -98.081)

Metadata

Model
gpt-5-mini
Short Digest
3889db60

Response Measures

None

Description

Articles report the Loretto State Bank has closed doors (Sept 12, 1929) and later refer to the failed Loretto State bank with a depositors' committee collecting funds to attempt reorganization and to reopen (Nov 28, 1929). There is no explicit description of a depositor run in the texts. Outcome of reopening is not reported here, but efforts to reopen are clearly planned, so classify as suspension with attempted reopening.

Events (2)

1. September 12, 1929 Suspension
Cause Details
Bank closed its doors; article criticizes licensing and small patronage but gives no discrete cause such as a run or regulatory seizure.
Newspaper Excerpt
The Loretto State Bank at Loretto in Boone county has joined the majority and closed doors.
Source
newspapers
2. November 28, 1929 Other
Newspaper Excerpt
The committee named by the depositors of the failed Loretto State bank ... has collected sufficient funds to meet the bills of the bank which amount $5,000 ... to re-open the bank, provided the banking department would permit its resumption of business . . . the depositors are anxious to effect reorganization of the bank . . . . (Albion Argus, 1929-11-28).
Source
newspapers

Newspaper Articles (2)

Article from Madison Star-Mail, September 12, 1929

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Article Text

Is Your Preacher Coming Back? Buckner, Methodist preacher who has taken supernumerary relations and not serve congregation is engaged in newspapers with ture stories religious and church activities gives the following pertinent information about the Methodist church conferences: "This week every Methodist preacher in Nebraska is out of job. Methodist ministers are appointed by the bishop for one year or until the annual conference meets. This year it meets at Trinity church in Lincoln, Sept. 10th. During the session of this annual conference, all the ministers of the state receive their appointments from Bishop Leete. "The district superintendents are assistants of the bishop but his is unlimited. He appoints power the district superintendents and all the preachers in the state. In the main this is the best method of getting pastors. The ers will get good appointments under but inferior any system preachers are hard to place. question at the head of this article has been asked many times in the state during the past few months. think it better that this should not be asked for question no one knows the answer. "It is hard for the preacher to know whether he should move or not. In almost every church there are certain things which are unpleasant and, on the other hand, many that are pleasant. "The preacher thinks that if he could get away from the unpleasant things and have everything lovely it would be delightful. He will not be in his new charge three months, however, until he discovers some unpleasant things. Serons are like pie, people differ in their tastes. "The United Presbyterian church at Olathe, Kas., hunted three years for pastor. The search was conducted as follows: Three candidates were asked to preach, then meeting of the church was called and vote taken as to which of the three was wanted. Usually the ballots were about evenly divided. Three more candidates were then invited and another election held. This continued for three years. Some persons like social qualities in preacher and do not care preaching ability. "When was at David City, two men who were members of the Baptist talking to me about getting pastor. asked the question, 'Would you rather have man good preacher or good mixer?' Both said they preferred good mixer but assured them that desired good preacher. "A woman said to me recently that she hoped her church would get new preacher. Her pastor could preach but was not sociable with the young people. Some churches want man who will fill the church pews or pay off their debt. believe in long pastorates. am sure that the coming conference will give new pastors to many churches. In six months both the congregation and preachers will say, 'We gained nothing by changing.' "The minister has hard place to fill and the people should be patient. The preacher must dress to please multitude and his wife must satisfy host. church is concerned as to how the minster's wife and his children dress. The preacher must please the rich, the poor, the educated and the ignorant, the 'spiritual minded.' and the society folks, and the common people. This cigantic task and every member the church should help the pastor to meet his problem. The distance between the above groups not great as the groups think. once said to Judge Green, one of mv members. that wished he more spiritual. He thanked me and asked me like whom. hesitated. then said, 'Like Tom Walker.' He asked me if wanted him to have the reputation of Tom Walker. said 'No, want you to have the reputation of Judge Green and the spirituality of Tom Walker.' "He asked if thought Tom Walker's spirituality made him honest, truthful, kind and better eitizen. After we had talked for an hour said, 'Well. of the two men. prefer you to Tom Walker.' "Green was better than he thought and Walker was not so good as he thought. Religion must be judged by its goodness. "A man said the first Sunday after took the charge, "Come see when you do not need to go somewhere else. but never feel that you must come to visit me. Tell you would like for me do and let me decide if can do am here to co-operate with you. was his pastor eleven years and he made good his first statement. committee met the new preacher at the depot. The next morning. one of the committee met member of the church and said, 'Nelse, you did not meet our new preacher last night.' Nelse said, 'No, thought would wait and carry his grip when he left.' friend better who carries when leave. Methomy grip dist preachers have as much to where they go as any ministers in the world. "Thirty years ago Bishop Merrill rose to read the appointments and said: 'Every preacher in this conference knows where he is going for he has been consulted and has said, am willing. When was elected bishop and rose to read the appointments no man knew where he was going! do not mean that each preacher got what he wanted but he took what was offered just as ministers do in other churches." Fritz Test has taken position with the Standard Oil Company filling the vacancy by the resignation of Kielty. Mrs. Ray Kienlen and baby of Oklahoma City, Okla., Mrs. Gilliard and children of Marland, Okla., and Harry Kaul are here visiting with their sister, Mrs. Ernest Schlender and family. The Loretto State Bank at Loretto in Boone county has joined the majority and closed doors. Day by day in every way the incompetence of the banking board in granting banks license where no banks have patronage enough to exist is shown.


Article from The Albion Argus, November 28, 1929

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Article Text

Earl, and family when ham's car collided with injuries resulted death few hours BANK'S tried before Judge Shepherd's court and the verdict Depositors' Committee shortly after the jury retired. Earl Styles has separate suit of Bank Will for damages against Graham which Make Final may be settled out of court. The committee named by the positors of the failed Loretto State bank will have meeting the church Loretto Friday afternoon o'clock. The committee make its final report this time. The committee has collected suf ficent funds to meet the bills payof the bank which amount $5,000. also report the to take to re-open the bank, provided the banking department would permit its resumpbusiness The depositors, many of them least, anxious to effect reorganization of the bank but will be known until after the report officially in this meeting whether not the depositors will agree the There are six members the depositors committee with Cowan chairman.