Nebraska State Bank - Pawnee City, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 21, 1889
Location: Pawnee City, Nebraska (40.108, -96.154)

Metadata

Model: gpt-5-mini
Short Digest: 86fb8baa

Response Measures

None

Description

Article (Dec 21, 1889) reports the Nebraska State Bank of Pawnee City 'assigned' and closed by the president, assets turned over to creditors. No run is described; bank effectively failed and was placed for creditors/receiver.

Events (2)

1. December 21, 1889 Receivership

Newspaper Excerpt: The Nebraska State bank ... which assigned yesterday ... The bank building, Hempstead's residence and his share in the electric light plant are turned over to the creditors ... The total liabilities are unknown.
Source: newspapers

2. December 21, 1889 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank 'assigned' (insolvent/failure) and turned property over to creditors; president closed doors midday.
Newspaper Excerpt: The Nebraska State bank, of this city, which assigned yesterday ... The bank transacted business up to noon, when the president closed the doors, saying it was the best thing he could do.
Source: newspapers

Newspaper Articles (1)

1. December 23, 1889 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, December 23, 1889

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Article Text

THE PAWNEE BANK FAILURE. How Bad the Smash Is Is Not Known. PAWNEE CITY, Neb., Dec. 21.-The Nebraska State bank, of this city, which assigned yesterday, had as officers D. F. Hempstead, president, and S. E. Smith, cashier, who came here two years ago from Mendota, Ill., and purchased the bank, which was then well established. Hempstead built a residence and organized an electric light company, of which he is now president. Smith went to baling hay as an outside issue. The bank building, Hempstead's residence and his share in the electric light plant are turned over to the creditors, Hempstead only reserving a $2,000 residence, allowed by law. The bank transacted business up to noon, when the president closed the doors, saying it was the best thing he could do. The total liabilities are unknown. The property turned over is estimated to be worth between $40,000 and $50,000.