13468. State Bank (Papillion, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 7, 1930
Location
Papillion, Nebraska (41.154, -96.042)

Metadata

Model
gpt-5-mini
Short Digest
4282639c

Response Measures

None

Description

Articles (Lincoln Journal Star, 1930-05-07) discuss Receiver Brownell and liquidation of the State Bank of Papillion; no run or depositor panic is described. A receiver is handling liquidation and claims; bank is in receivership/being liquidated, implying permanent closure.

Events (2)

1. May 7, 1930 Receivership
Newspaper Excerpt
Receiver Brownell of the State bank of Papillion ... Attorneys for the receiver say that the guaranty fund is laboring under difficulties and its future is uncertain ... delay the final liquidation of failed bank
Source
newspapers
2. May 7, 1930 Suspension
Cause
Government Action
Cause Details
Receiver appointed and bank in liquidation; court litigation over filing claims delaying liquidation; closed and in receivership.
Newspaper Excerpt
Receiver Brownell of the State bank of Papillion has asked the supreme court for rehearing ... delay the final liquidation of failed bank, and make hazardous the payment of dividends during liquidation
Source
newspapers

Newspaper Articles (2)

Article from Lincoln Journal Star, May 7, 1930

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Article Text

PROTESTS A DECISION CONTRARY LAW State Bank Receiver Says It Amounts to Repeal and Interferes With Liquidations. Receiver Brownell of the State bank of Papillion has asked the supreme court for rehearing of the case in which that tribunal alAlbert Halpin, depositor, to file claim after the six months period fixed by law had expired. He says that the trial court had no discretion in the matter, in the face of the plain provisions of the and for the courts to hold that they have the right to give relief to judicial repeal of an act of the legislature. Halpin was farm hand who had left the Papillion neighborhood after he had made deposit in the bank. and being absent in another state had not heard of the failure until after the time limit for filing claims had expired. The receiver says that the court has hitherto fully recognized the application of this law the filing of claims: that its decision now is contrary to the plain language and clear intent and reason the statutes; that six other states where similar law in effect have recognized its validity, that the court fails to cite an applicable authority for its acts. The court decision criticised the statute in unmeasured words, pointing out that no diligent search is required to find creditors and other defects in notices to Attorneys for the receiver say that the guaranty fund is laboring under difficulties and its future is uncertain. Some of its difficulties have been due to court interpretation of legislative enactments so as to render them confused and uncertain. In this particular case the result is to lay down rule that will delay the final liquidation of failed bank, and make hazardous the payment of dividends during liquidation since later other claims may be allowed


Article from Lincoln Journal Star, May 7, 1930

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Article Text

PROTESTS A DECISION CONTRARY LAW State Bank Receiver Says It Amounts to Repeal and Interferes With Liquidations. park said: Receiver Brownell of the State 'One of the finest things in Linbank of Papillion has asked the coin's history. It will give the supreme court for rehearing of city tremendous amount of good the case in which that tribunal aladvertising and will give boy musilowed Albert Halpin, a depositor, cians and boys with musical ambito file claim after the six months tion wonderful opportunity withperiod fixed by law had expired. out charge to them. He says that the trial court had Two score or more parents and no discretion in the matter. in the boys have called one or both sponface of the plain provisions the sors or Bair to law, and for the courts to hold know what they must do in order that they have the right to give to join the Here is the relief on equitable grounds amounts answer to judicial repeal of an act of 'All the boy needs is instruthe legislature. Halpin was a farm ment. If he can play little, that hand who had left the Papillion well. If he cannot play at all, neighborhood after he had made this will be no hindrance There's deposit in the bank. and being abno red tape, no expense, no passsent in another state had not ing upon Boys wishheard of the failure until alter the ing to enroll should call the office time limit for filing claims had exof the Lincoln Musicians associapired. tion, B-4866, National Bank of The receiver says that the court Commerce, between 12 m. and has hitherto fully recognized the m. each day this week and from application of this law the filing p. m. to 5:30 p. m. next week." of claims; that its decision now It is planned to perfect the oris contrary to the plain language ganization early in June and to put and clear intent and reason of the on the first concert later in the statutes; that six other states summer, possibly not before where similar law effect August. One division will be made have recognized its validity, that up boys from ten to fifteen while the court fails to cite an applicable the senior division will include authority for its acts. The court of from fifteen to eighteen. decision criticised the statute in During the summer months unmeasured words, pointing out there will be one rehearsal a week that no diligent search is required to find creditors and other defects and probably more while in the summer, with school in progress, in notices to Attorneys for the receiver say possibly but one rehearsal that the guaranty fund is laboring month. It is possible that the two band under difficulties and its future is uncertain. Some of its difficulties groups, junior and senior, may be further divided to provide for as have been due to court interpretamany as four boy bands in public tion of legislative enactments so as to render them confused and un- appearance The advantage of certain. In this particular case sliding arrangement whereby one the result is to lay down rule big band of 200 pieces may be that will delay the final liquida- thrown together, two bands of 100 tion of a failed bank. and make pieces each quickly arranged or hazardous the payment of divi- lesser organizations formed is in dends during liquidation since the fact that some functions may later other claims may be allowed demand the larger bands while