13448. Ord State Bank (Ord, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 17, 1927
Location
Ord, Nebraska (41.603, -98.926)

Metadata

Model
gpt-5-mini
Short Digest
39a5ce12

Response Measures

None

Description

Articles (Nov 17-18, 1927) report the Ord State Bank is insolvent, a receiver (A. Kirk) was appointed, assets sold to another Ord bank, and the guaranty fund paid depositors. No article describes a depositor run; this is a suspension with permanent closure/receivership.

Events (2)
1. November 17, 1927 Receivership
Newspaper Excerpt
the receiver of the Ord State bank shall pay out of the guaranty fund $594 taxes due from that institution. The receiver, A. Kirk, claims that the tax is illegal ... He says the fund has already paid $78,000 to pay depositors, the assets having been sold to another Ord bank.
Source
newspapers
2. November 17, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent; assets sold to another Ord bank and guaranty fund used to pay depositors.
Newspaper Excerpt
He says the fund has already paid $78,000 to pay depositors, the assets having been sold to another Ord bank.
Source
newspapers

Newspaper Articles (4)
1. November 17, 1927 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, November 17, 1927

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Article Text

ATTORNEY GETS INDIGNANT Criticizes Receiver of Ord Bank for Claiming Bank Tax Is Illegal. George A. Munn, county attorney for Valley county, grows indignant in a brief filed Thursday with the court in support of decision of the district court that the receiver of the Ord State bank shall pay out of the guaranty fund $594 taxes due from that institution. The receiver, A. Kirk, claims that the tax is illegal, as some district courts have held, be: cause it levies higher tax on banks than on competing private capital. He says the tax should be five mills on the dollar, and that he will pay $99.10. He says the fund has already paid $78,000 to pay depositors, the assets having been sold to another Ord bank. "The receiver," says Mr. Munn, "seeks to overthrow the very authority by which he obtained and holds his position as receiver of an insolvent bank, and he has the audacity to assert his claim without having raised objection before the board of equalization, without having paid under protest or with out even tendering the amount he claims is due. The appellee fails to see any reason why the receiver should not be held to the same rules of procedure, practice and pleading that-would apply to any individual under like circumstances."

2. November 17, 1927 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, November 17, 1927

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Article Text

ATTORNEY GETS INDIGNANT Criticizes Receiver of Ord Bank for Claiming Bank Tax Is Illegal. George A. Munn, county attorney for Valley county. grows indignant in a brief filed Thursday with the supreme court in support of a decision of the district court that the receiver of the Ord State bank shall pay out of the guaranty fund $594 taxes due from that institution. The receiver, Kirk. claims that the tax is illegal, RS some district courts have held, because it levies higher tax on banks than on competing private capital. He says the tax should be five mills on the dollar, and that he will pay $99.10. He says the fund has already paid $78,000 to pay depositors, the assets having been sold to another Ord bank. "The receiver, says Mr. Munn, 'seeks to overthrow the very authority by which he obtained and holds his position as receiver of an insolvent bank. and he has the audacity 10 assert his claim without having raised objection before the board of equalization, without having paid under protest or with out even tendering the amount he claims is due. The appellee falls to see any reason why the receiver should not be held to the same rules OR procedure. practice and pleading that-would apply to any Individual under like circumstances.

3. November 17, 1927 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, November 17, 1927

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Article Text

ATTORNEY GETS INDIGNANT Criticizes Receiver of Ord Bank for Claiming Bank Tax Is Illegal. George A. Munn. county attorney for Valley county. grows indignant in a brief filed Thursday with the supreme court in support of a decision of the district court that the receiver of the Ord State bank shall pay out of the guaranty fund $594 taxes due from that institution. The receiver. 1. A. Kirk. claims that the tax is illegal, as some district courts have held, because it levies higher tax on banks than on competing private capital. He says the tax should be five mills on the dollar, and that he will pay $99.10. He says the fund has already paid $78,000 to pay depositors, assets having been sold to another Ord bank. "The receiver. says Mr. Munn, "seeks to overthrow the very authority by which he obtained and holds his position as receiver of an insolvent bank. and be has the audacity to assert his claim with out having raised objection before the board of equalization, without having paid under protest or with out tendering the amount he claims is due. The appellee fails to see any reason why the receiver should not be held to the same rules OR procedure. practice and pleading that-would apply to any individual under like circum-

4. November 18, 1927 The Stockman's Journal Omaha, NE
Article from The Stockman's Journal, November 18, 1927

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Article Text

County Attorney Indignant at Actions of Bank Receiver Lincoln, Neb., Nov. 18.-County AttorMunn of Valley county has filed ney protest with the supreme court against the position taken by A. Kirk, cashier of the Ord State bank The latter claims that the against the bank which must come out of the guaranty fund, to be on the basis have said banks should be basis all which the mill for the due from $600 to would cut $100. Munn says that Kirk owes his Mr. to the and in appointment strange the gave him his job. protest was filed before He says that and none of the other the taxing board, for protesting taxlegal ought not to and the bank be treated different from citizens.