13289. First State Bank (Murphy, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 1, 1928*
Location
Murphy, Nebraska (40.879, -98.112)

Metadata

Model
gpt-5-mini
Short Digest
536aa110

Response Measures

None

Description

No run is described. The bank had been in charge of the guaranty fund commission since last October (likely Oct 1928) and a receiver was appointed by court order (Mar 1929). This indicates a suspension/closure by government-related action and assignment of a receiver.

Events (2)
1. October 1, 1928* Suspension
Cause
Government Action
Cause Details
Taken into charge by the state guaranty fund commission beginning in October; effectively suspended operations under commission control.
Newspaper Excerpt
Since last October the Murphy bank has been in charge of the guaranty fund commission.
Source
newspapers
2. March 13, 1929 Receivership
Newspaper Excerpt
Judge Landis has appointed A. Kirk of Gibbon receiver for the First State bank of Murphy. On application of Attorney General Sorensen ... receiver appointed for the First State bank of Murphy. (Lincoln Journal Star, 1929-03-13).
Source
newspapers

Newspaper Articles (2)
1. March 13, 1929 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, March 13, 1929

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Article Text

MURPHY BANK RECEIVER I. A. Kirk of Gibbon in Charge of Closed AURORA. Neb-On application of Attorney General Sorensen. Judge Landis has appointed A. Kirk of Gibbon receiver for the First State bank of Murphy Since last October the Murphy bank has been in charge of the guaranty fund commission M. J. Ferguson, special agent for the commission, has been in charge and his collections have been sufficient to pay out a dividend of 70 percent. The capital of the bank was $15,000. It was established by the late W. Farley about fifteen years ago. The deposits shown by the last report before the guaranty fund took the bank over were about $85,000.

2. March 13, 1929 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, March 13, 1929

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Article Text

MURPHY BANK RECEIVER I. A. Kirk of Gibbon in Charge of Closed Institution. AURORA, Neb-On application of Attorney General Sorensen. Judge Landis has appointed 1. A. Kirk of Gibbon receiver for the First State bank of Murphy. Since last October the Murphy bank has been in charge of the guaranty fund commission. M. J. Ferguson, special agent for the commission, has been in charge and his collections have been sufficient to pay out a dividend of 70 percent. The capital of the bank was $15,000. It was established by the late W. I. Farley about fifteen years ago. The deposits shown by the last report before the guaranty fund took the bank over were about $85,000.