13560. American State Bank (Scottsbluff, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 15, 1930
Location
Scottsbluff, Nebraska (41.867, -103.667)

Metadata

Model
gpt-5-mini
Short Digest
40c1b41d

Response Measures

None

Description

Articles (Aug 15 and Aug 21, 1930) describe the American State Bank as 'defunct' and under a bank receiver (A. E./A. T. Torgeson) with dividend payments being made to depositors. There is no mention of a depositor run prior to suspension; the bank is closed and in receivership and paying dividends, so classification is suspension_closure (closed permanently with receiver).

Events (2)

1. August 15, 1930 Receivership
Newspaper Excerpt
payments being made to depositors of the American State ... according to Bank Receiver, A. E. Torgeson, dividend payments are being made to depositors of the defunct American ... bank, formerly operating under the state guaranty law in this city. (Aug 15 and Aug 21 articles refer to receiver and dividend payments.)
Source
newspapers
2. August 21, 1930 Suspension
Cause
Government Action
Cause Details
Bank described as defunct and operating under state guaranty law; placed in receivership with dividend distributions by bank receiver.
Newspaper Excerpt
dividend payments are being made to depositors of the defunct American and Irrigators State banks, formerly operating under the state guaranty law in this city.
Source
newspapers

Newspaper Articles (3)

Article from Scottsbluff Republican, August 15, 1930

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Article Text

banks, formerly operating under the state guaranty law in this city. The payments being made this time bring the total paid to depositors of the American State cent, the payment made now five cent of per deposits. Including the payment now being made depositors of the Irrigators State have received 45 cent their deposits. It stated that all the payments will amount to approximately $50,000.


Article from Banner County News, August 21, 1930

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Article Text

DEPOSITORS OF FAILED BANKS WILL RECEIVE DIVIDEND PAYMENTS Scottsbluff ing to Bank Receiver, A. E. Torgeson, dividend payments are being made to depositors of the defunct American and Irrigators State banks, formerly operating under the state guaranty law in this city. The payments being made at this time bring the total paid to depositors of the American State up to 53 per cent, the payment being made now is five per cent of total deposits. Including the payment now being made depositors Irrigators State have received 45 per cent of their deposits. It is stated that all the payments will amount to approximately $50,000.


Article from The Western Nebraska Observer, August 21, 1930

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Article Text

(Continued from page one, 2nd sec.) for shipment to market. Digging operations are expected to be well under way in another week. It is believed that the irrigated acreage will yield between 250 and 300 bushels per acre and the price being offered this week was around $1.25 and $1.34 per hundredweight. The potatoes are of extra good quality and the bulk of the crop will no doubt be shipped to Chicago and other eastern markets. Mrs. Sam Lawyer, 55, night operator at the telephone office in Gering, suffered a serious attack of paralysis early Saturday morning while on duty. Though she is conscious, Mrs. Lawyer's entire right side is paralyzed. The stroke of paralysis came upon her while she was resting on a cot near the switchboard. She was able to Wheat forced, the door and found her on a cot. No response from the ing office caused investigation. According to the bank receiver, A. Torgeson, dividend payments are being made to depositors of the defunct American and Irrigators state bank, formerly operating under the state guaranty law in Scottsbluff. The payments being made at this time bring the total paid to depositors of the American state up to 53 1-4 per cent, the payment being made is five per cent of total deposits. Including the payment now being made depositors of the Irrigators state have received 45 per cent of their deposits. It is stated that in all the payments will amount to approximately $50,- Dalton Delegate.-The community was greatly shocked last Friday afternoon to learn of the death of Inez Handley, younger daughter of Mr. and Mrs. C. W. Handley. The death occurred about 5:30 p. m. following week of illness. The girl carried no temperature, nor did she suffer an ache or a pain, and physicians were at loss to account for the illness. At two o'clock in the afternoon the heart action became weak and death was then but a matter of hours. A post-mortem examination Saturday afternoon disclosed that the cause of death was tuberculosis of the bowels. Loomis Sentinel.-Mr Garden of the Trees Oil Co. was in town last Saturday looking for an unoccupled, furnished house in which to live while drilling at the Loomis Oil well, just east of town on the Elmer Bergman farm. The business men of Loomis, together with everyone else of this community are anxious that Mr. Gardner and his associates locate in our little city, and extend them a very cordial invitation to make this their home. It is reported that the motor and equipment for drilling will be intalled and ready for drilling opperations by August 15. The large eighty foot tower can easily be seen from town and is the means of furnishing a great deal of interest to our local people. of the state land department gave a very interesting demonstration Tuesday of the modern way to build ditches when they dug a drainage canal on a state farm *ive miles north of Lingle. They would put a string of dynamite sticks distance of three hundred feet and by use of a percuasion cap set off one of the sticks. The entire charge would explode throwing a wall of mud several hundred feet high, and there would remain a ditch about four feet wide and two feet deep. The dynamite sticks were eight inches long and they were put in the ground eight inches below the surface. The crew dug one and one-half miles of ditch, digging at the rate of one-half mile per day. Alliance Times-The Alliance Motor company gave away a fine new Ford car last Saturday afternoon, but they still have it. Not that Ford cars are hard to get rid of but in the case of this particular Ford, it was to have been given away publicly last Saturday afternoon as the culmination of the concern's demonstration campaign and well over 2,000 interested people had taken rides and demonstrations in the new Ford. A large crowd was on hand at the garage. Nelson Blood was the fortunate party, but he could not be located and he has not put in his appearance at the Alliance Motor company to claim his car. Sheriff George Jones slad that Blood had some difficulty with the "law" about a week previous and was ordered to leave the city and not come back. Whether Blood will violate the officer's edict and return for the machine is to be seen. The Alliance Motor company will hold the car for what is dertermined by the law as a reasonable length of time and then it will prabably be given away again. Loveland (Colo.) Herald-Where is a line of business that is not having its "trials" and tribulations Outside of the steel industry that continues to hand out millions of dollars in "bonuses" to its officials, off hand we do not know of another one. The farmer is not the only class that is having difficulty in realizing, from hard earned effort. much if any profit. And the resourceful sound thinking farmers, like similar folks in other professions and vocations will work out their own salvation. It is a time when resources have been husbanded, when unnecessary expense have been watched and when the best efforts have been made to solv e the problems as they face us individually. Americans have grown too prone to seek relief and aid for every class and condition through legislative enactment. We want to redress and remedy every situation that arises. Too many of us want "relief" for conditions that are more or less selfimposed and without applying our own personal efforts to solving them. It should be apparent to the farmers by now. and to those engaged in evcty other avocation, that political relief is the bunk, and "the berries" that never come into fruitation. But what should be had from a legislative source, and could be had if consistently demanded, is & fair adjustment of our taxing system that now throws the brunt of governmental expenses onto visible wealth while the invisible wealth goes almost scott free.