Citizens State Bank - Martinsburg, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 24, 1933
Location: Martinsburg, Nebraska (42.508, -96.831)

Metadata

Model: gpt-5-mini
Short Digest: 131f43d4

Response Measures

None

Description

Article (Lincoln Journal Star, 1933-02-24) states a receiver (Luikart) for Citizens State Bank of Martinsburg and refers to receiver appealing a court finding; no mention of a depositor run. This indicates the bank had been taken into receivership (suspension/closure) rather than a run-led episode.

Events (2)

1. February 24, 1933 Receivership

Newspaper Excerpt: Receiver Luikart of the Citizens State bank of Martinsburg, Dixon county, appealed to the supreme court Friday ... the bank was solvent when it taken over and that operation by the state was responsible for the depreciation in value of assets ... the bank was received as legacy.
Source: newspapers

2. February 24, 1933 Suspension

Cause: Government Action
Cause Details: Bank was in receivership (state-appointed receiver Luikart) and legal action concerning stockholders' liability; closure appears to be by regulatory/receivership action.
Newspaper Excerpt: Receiver Luikart of the Citizens State bank of Martinsburg, Dixon county, appealed to the supreme court Friday from finding of Judge Ryan releasing ... stockholders' liability.
Source: newspapers

Newspaper Articles (1)

1. February 24, 1933 Lincoln Journal Star Lincoln, NE

Article from Lincoln Journal Star, February 24, 1933

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Article Text

MERE MENTION Fresh mushrooms 28c lb. Strawberries, boxes 35c. Pure Virgin olive oil $1.25 quart. Beachly Democratic luncheon club will Saturday noon the Cornhusker, with Lieutenant Governor Jurgensen as speaker. Depositors of the Snyder State have been paid of 3.5 percent, $4,739.73, by the of trade commaking total of percent or Earl Hansen, arrested several ago on of Hardy Clark charges of assault and battery, tried court morning, found guilty and fined $1 and Secretary of State Swanson has decided to hold hearing March at o'clock in supreme courtNo. on the objection filed by John M. Printup against renewal of the chattel agency license now held by Motors F1nance company of Lincoln. Receiver Luikart of the Citizens State bank of Martinsburg, Dixon county, appealed to the supreme court Friday from finding of Judge Ryan releasing Henry HarSchultz, guardian, Ruth Schultz and Annie Rakow Sioux City from stockholders' liability. The motion to dismiss was grounded the claim that the evidence did not sustain any judgment, that the bank was solvent when it taken over and that operation by the state was responfor the depreciation in value of assets, and that liability does not follow stock when it is received as legacy. Marriages are increasing in Nebraska despite financial conditions, according to the state bureau of vital statistics. Its report shows constant since 1929 when the total number of marriages was 10,202. The in 1930 was 10,248; in 1931 was 11,030; 1932 was 11,757. Nebraska has law requiring postof notice for five or ten days before the issuance of license, but several adjoining states have such laws. Douglas county, on the border of Iowa, shows an increase in marriages during the past four years except in 1930. Lancaster county, inland sixty more miles, shows decrease in 1932 when the total number was 694. There were 718 the year before, 820 the year before that and 808 in 1929. The supreme court Friday reversed its former holding, and awards to Arnold Vandenburg, justice of the peace in Center township, Butler county, compensation the sum of $15 week for 300 weeks and after that $12 week, along with $463 for medhospital fees. Justices Eberly and Paine dissented. Justice was member of township board, which gave him contract to dynamite some stumps. In an explosion he lost the sight of both eyes. Under the law was the duty of the board supervise road maintenance, but not to do work. The court says that while other members denied any contract to do the work, there was an implied one arising from the fact that they had him doing this blasting various parts of the township. This gives him the status of employe, and entitles him to compensation, since there is no law