Mclean State Bank - McLean, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 2, 1931
Location: McLean, Nebraska (42.386, -97.469)

Metadata

Model: gpt-5-mini
Short Digest: 2fcf8743

Response Measures

None

Description

Article (North Platte Daily Telegraph, 1931-04-02) reports the McLean, Neb., State Bank 'closed with deposits of approximately $166,000' after state bank examiners discovered shortages and worthless notes tied to Wupper's forgeries and defaults. No separate run is described; closure appears permanent as part of fallout from the fraud/shortage.

Events (1)

1. April 2, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Shortages and large forgeries/defaults by Wupper (forgeries totaling ~$794,876; worthless notes and cash deficits discovered by state examiners).
Newspaper Excerpt: The McLean, Neb., state bank of which Wupper also was president, closed with deposits of approximately $166,000. It also held worthless notes, officials said.
Source: newspapers

Newspaper Articles (1)

1. April 2, 1931 North Platte Daily Telegraph North Platte, NE

Article from North Platte Daily Telegraph, April 2, 1931

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Article Text

TROUBLE FALLS HARD UPON WIFE, FAMILY (Continued from Page One) sistant cashier of the bank. Severs is under a seven year sentence and Lallman under a five year Both have been in prison about two years. At Beemer, citizens were incredulous when they first heard of his arrest. They received such reports before and found them false. Mayor E. L. Fried said the sentiment was much against Wupper. FORGERIES RUN HIGH. Bank Commissioner ge Woods today said court rulings had charged Wupper with forgeries totalling $794,875.84 and also with default of cash and ac. counts of the Beemer bank totaling $107,284.44. His shortage was first discovered by state bank examiners. He disappeared and charges were filed against him. Two other banks closed as a result of the Beemer bank failure. The Morse Bluff bank closed with deposits of $450,000 and authorities charged Wupper had unloaded worthless notes for $30,000 on that institution. The McLean, Neb., state bank of which Wupper also was president, closed with deposits of approximately $166,000. It also held worthless notes, officials said.