13510. Potter State Bank (Potter, NE)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 14, 1929
Location
Potter, Nebraska (41.217, -103.316)

Metadata

Model
gpt-5-mini
Short Digest
aa4b1489

Response Measures

None

Description

The bank suspended operations in mid-November 1929 because of depleted funds and was taken over by the state banking/Trade and Commerce department, reorganized with new capital and officers, and reopened later that month. No explicit depositor run is described in the articles.

Events (3)

1. November 14, 1929 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Depleted funds/insolvency pressures following prolonged weakness since the postwar depression; bank was on the ragged edge and suspended operations and refused to pay checks while being taken over by the banking department.
Newspaper Excerpt
suspended operations last Thursday night on account of depleted funds.
Source
newspapers
2. November 15, 1929 Other
Newspaper Excerpt
was taken over by the banking department recently, was reopened last week as new concern after had been successfuly refinanced. Depositors will not lose anything, it believed, the only losses being to the stockholders ... the former W. Johnson ... stockholder in the new bank. (reorganization/takeover by department and refinancing noted.)
Source
newspapers
3. November 19, 1929 Other
Newspaper Excerpt
The Potter state bank opened for business Tuesday morning after having suspended operations last Thursday night ... new capital pledged. new officers are Nels Troelstrop... Enevoelsen, cashier; Joe Johnson, vice president; ... The former bank has been on the ragged edge since the financial depression following the war. (reopened as reorganized/new concern.)
Source
newspapers

Newspaper Articles (2)

Article from The Western Nebraska Observer, November 21, 1929

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Article Text

SUSPENDS BUSINESS ON ACCOUNT OF DEPLETED FUNDS AND IS REORGANIZED The Potter state bank opened for business Tuesday morning after having suspended operations last Thursday night on account of depleted funds. The bank was never closed by the partment of Trade and Commerce, but on Friday morning refused to take deposits cash checks. In the meantime the business affairs of the bank were being cared for and new capital pledged. new officers are Nels Troelstrop, Denver, president; Enevoelsen, cashier; Joe Johnson, vice president; Wm Hegemeister,, Joe Nelson and Fred Wiekhorst directors. stockholders Johnson, John Seyfang, Emil Carlson and the Mercantile Co. The former bank has been on the ragged edge since the financial depression following the war. It made struggle that no officer of the institution need apologize for. Carl Larpresident, and former resident of this city has taken heavy loss but he goes out with reputation that most favorable. Mr. Harris, cashier under former management, is also released from the new institution.


Article from Minatare Free Press, November 28, 1929

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Article Text

VALLEY NEWS TOLD BY EXCHANGES NEIGHBORING HAPPENINGS AS TOLD BY OTHERS Interesting Items Taken from the Exchanges Tell of Doings in the Nearby Communities Lawrence G. Kilstrup, of Mitchell, convicted by jury in district court several days ago of charge of car theft, was sentenced to an indeterminate term of from one to ten years by District Judge Carter. The charge which he was convicted volves the theft of two automobiles one from John and the other from Harley Shaver. The Potter State bank at Potter, which was taken over by the banking department recently, was reopened last week as new concern after had been successfuly refinanced. Depositors will not lose anything, it believed, the only losses being to the stockholders the former W. Johnson, state senator of Potter stockholder in the new bank. A room the third floor of the on courthouse in Gering has been fitted for library of the law books used the attorneys in trial cases and for the general convenience of those who are county or district courts. The books from the libraries of Judge Lyda and District Judge E. Carter are placed the new room and there will be additions from time to time. Andrew Weiss, for eighteen years project manager of the North Platte valley irrigation projects, but now in the employe of the Mexican ment in similar capacity, was in the valley recently checking up on number of features embraced in the Pathfinder project. Mr. Weiss' Mexican work entail the construction of three different projects, and he has something over 2000 employes under his supervision. Something new in the form of ditch construction work was tried out recently near Broadwater, an entire ditch being excavated by the use of dynamite. The ditch line in question ran through swamp and sticks of dynamite were set in the mud about twenty inches apart. When the plosives was all set they were discharged by means of cap placed on the first stick. The longest section to be blown at one time about quarter of mile in length, leaving ditch approximately four feet deep six to tight feet wide. Only about two and hours time was consumed in constructing the ditch. Judicial clemency exercised by County Judge Lyda, saved George Sterkle, Sr., from paying fine excess of $400 on of charge trapping out of season, brought through information of Cunningham, uty state game warden. Sterkle arrested with 12 green muskrat hides in his possession, for which total fine of $35 per hide could be assessed. He pleaded guilty to having them in his but it that they had been trapped by his two sons for the purpose of making little tra spending money. Judge Lyda fined him only on one count, which with the costs amounted to over $50, and paroled him on the rest. Payment of the assessment was guaranteed. The North Platte Valley Co-operatRedding, Mary Pittman and Opal ive Poultry Marketing Association Whitehead. The president Helen loaded carloads of dressed turkeys Clouse; secretary, Elinor Babbitt; last week that brought growers ap- and treasurer, Dorothy Chambers. proximately There were We sold tickets for the Woman some over 10,000 birds in the ship- club play. In return they donated ments and all were of good grade. candy for candy sale which we held H. Propps states that the shipment the show. We wish to thank all members of the Womans club who The above the average quality. association to planning open brought candy. We are making bids for the Christmas shipment ters for the Guild bazaar to be held about Dec. There are about twenDecember 14th. thousand turkeys listed for sale this time. There will also and Mrs. Carol Brown of February sale by the association, Grand Island are visiting at the home which will approximate about four Mr. and Mrs. Swindell. loads. The December shipment be ten cars. It In estimated that there will NOTICE FOR DRIVERS LICENSE total sale of some over which about the same as last year, but which amount The County Treasurer desires to was lowered the form those who have not applied for selling price this TThere their Driver's License, that applicayear. were several thousand more birds grown by association tion should made once, or members this for January 1st, 1930. There still year.