13575. Meisners Bank (Shelton, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1928*
Location
Shelton, Nebraska (40.779, -98.731)

Metadata

Model
gpt-5-mini
Short Digest
e35f95c5

Response Measures

None

Description

Articles describe the institution as the failed Meisner (Meisner State) Bank which closed in 1928 and has had a receiver; depositors have received dividends and are organizing to reorganize/settle affairs. No contemporaneous run is described. I corrected the provided name Meisners Bank to the newspaper spelling Meisner State bank.

Events (3)

1. January 1, 1928* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed (closed) in 1928 and placed in receivership; described as a failed state bank rather than closed for a temporary holiday or rumor-driven reason.
Newspaper Excerpt
Since the bank was closed in 1928, the depositors have received dividends of little more than sixty per cent
Source
newspapers
2. February 19, 1931 Other
Newspaper Excerpt
A meeting of the depositors of the failed Meisner bank was held at Shelton Saturday night ... The plan was adopted ... depositors sign over their claims to three trustees ... power given to settle the bank's affairs. Since the bank was closed in 1928, the depositors have received dividends of little more than sixty per cent.
Source
newspapers
3. * Receivership
Newspaper Excerpt
Clarence G. Bliss, state bank receiver, was present and explained various plans for settling the affairs of the old bank. ... This action takes the matter out of the hands of the receiver.
Source
newspapers

Newspaper Articles (2)

Article from The Nelson Gazette, January 15, 1931

Click image to open full size in new tab

Article Text

State News Items of Interest According to statistical reports Ne braska farmers reduced their wheat acreage about a half million acres this year. The newly organized Veterans' of Foreign Wars band, 21 pieces, was awarded the contract for the summer series of concerts at the Fremont city park. The band is led by Phil Nelson. For several years Luther Larson's band has been receiving the contract to furnish Fremont's summer music. The city pays $133.33 for each concert. One Buffalo and one Dawson county bank are among the failed state banks of Nebraska which paid dividends to depositors the past month. The Overton State bank of Overton paid $29,188.77. five per cent; and the Meisner State bank of Shelton, paid $14,844.41, five per cent. A total of $229,792.38 was paid to depositors during December. bringing the total for the year to $7,496,410.35. State Treasurer W. M. Stebbins has certified to State Superintendent C. W. Taylor that there is $496,408.39 in the temporary school fund subject to his distribution. The fund has been derived from the following sources:Interest on bonds. $293,456.17; warehouse licenses, $23; insurance licenses, $15,855; liquor licenses, $502; employment agency licenses, $650; school land interest, $18,454.35 and school land lease, $167,467.87. Word has been received from Congressman Robert Simmons to the effect that approximately $25,000 is available for an addition to the Kearney postoffice building. It will permit enlarging the work rooms. an improvement greatly needed. as the force now working the mails is divided, with the rural carriers allotted to the basement. Indications are that work on the extension will begin at an early date. State departments are taking permanent quarters in the capitol tower. The first to move was Adjutant General J. Paul and his staff of the national guard. The guard and regular army instructors are to have the eleventh floor. The state headquarters of the American Legion, the auxillary, and the relief department, will have the twelfth floor, and the Grand Army headquarters will share the thirteenth floor with the SpanishAmerican war veterans. A lost check for $2,787.89 Richardson county's part of the July gas tax collections in the the background of action started between the county and the state. County officers took steps to obtain the money by requesting of Attorney General C. A. Sorensen what procedure to take against the state. Bonding companies have declined to write an indemnity bond because of the ease with which state warrant can be cashed, County Treasurer O. O. Marsh of Richardson county explains. Clarence G. Bliss, secretary of the state department of commerce said he had sent sight drafts to each of the 582 state banks in Nebraska, calling upon them to pay the first installment of two-tenths of one percent levy on the average daily deposits for the year 1930. The money will go into the depositors' final settlement fund which replaces the repealed guaranty fund. Mr. Bliss said he would not be able to tell for a time whether banks will ment pending decision by the United States supreme court on the guaranty fund case appealed by the banks. The Farmers State bank, of Primrose, Boone county, discontinued bank operations. It was announced that the bank was closed to effect orderly 11quidation and in order to pay all depositors in full. Depositors of the institution will hold meeting this month and efforts will be made to adopt plan similar to the one worked out by stockholders and depositors at Walton. The bank has capital stock of $17,500 and its deposits were in excess of $60,000. Rachel Gray Kinner is president; A. F. Kopechy, cashier, and N. J. White, vice president. The plan for reorganization contemplates signing of a waiver agreement by the depositors, fixing schedule of dates of payment to depositors and in consideration of such schedule the stockholders will agree ultimately to pay in full all depositors and unsecured creditors. According to census reports Nobraska has 486,107 persons living in towns, and 891,956 living on farm Lease of the York Hagood air field by the Ploneer Aircraft company of Omaha, has been announced. Frank J. Grace is president of the Ploneer company. equipment of the field will be taken over by the new lessee and more equipment may he added if business warrants, it was announced. Instruction, transportation and aircraft sales will be conducted by the Pieneer company. Low sugar content of the beets and record crop will extend the factory run at the Grand Island sugar factory at Grand Island until the middle of February. A total run of 140 days is in prospect, Manager A. J. Denman has announced. This will be the long. est run In the history of the Grand Island factory. Usual runs are from 90 to 100 days. Since the opening day of the factory in September, age of 760 tons of Leets has been aliced every day, Beets have an average sugar content of 13 per cent this year, Denman said.


Article from The Gibbon Reporter, February 19, 1931

Click image to open full size in new tab

Article Text

Resign From Depositors' Committee Messrs. Marshall Ross, Lindsay, Otis Randall and Johnson, of the depositors' committee of the old Exchange Bank resigned their jobs this week and named as their successors James Rogers, John Nutter Marshall and W. E. Gamble. The members of the committee have been very agreeable to each other and while of course there have been differences of opinion on some points, the sessions of the committee have been very harmonious, and each has acted conscientiously and for the interests of the depositors of the best of his ability. At the same time the borrowers' condition has been carefully considered and they have been extended many favors. Mr. Ross absent from Gibbon much of the time and the other three members who resigned have business interests which they have neglected until seemed that they could no longer do For almost fourteen months the members of the committee have been on the job and they have during that time spent many days. and none of them have received single penny for their services. was purely patriotic duty, cheerfully performed, and while some people cannot seem to believe possible that bunch of men would devote their time to the detriment of their own business without any compensation whatever, the fact remains that the members of this committee have done Leas remains on the job trustee in charge of settlements and he will be ably assisted by the new members, all of whom are substantial citizens and men of good judgement. They should have and undoubtedly will have the cooperation of all persons interested. Want To Reorganize Meisner Bank A meeting of the depositors of the failed Meisner bank was held at Shelton Saturday night and was tended by about 225 depositors. Clarence G. Bliss, state bank ceiver, was present and explained various plans for settling the affairs of the old bank. The reorganization By this plan the plan was adopted. depositors sign over their claims three trustees who thus given to settle the bank's affairs. power This action takes the matter out of the hands of the receiver. Since the bank was closed in 1928, the depositors have received dividends of little more than sixty per cent, which is better than most failed banks have paid. A. Bills, George Mortimer and Max Schiemann were appointed act trustees. Farm Bureau Annual Meeting The annual meeting of the Buffalo County Farm held at the Fort Kearney hotel last Thursday when banquet was given in nection with the session. Mrs. Howard Mercer presided the banquet and was in charge of the excellent program given. Luther Burt gave two very meritorious vocal selections, and Mrs. Marshall Ross gave report of the recent meetings of Organized Agriculture at Lincoln. Fred Wallace was elected as president for the coming year; Mrs. O. Williams was re-elected as vice president; Milton Webb of Odessa, secretary and Ludwig Johnson, treasurer. Directors named were Mrs. Howard Mercer, Gibbon; Fred Knobel Odessa; and Allen Cook, Lowell. American Legion Auxiliary The American Legion Auxiliary met at the home of the president, Mrs. Gladys Wilcox Friday afternoon, with very good February tendance. Mesdames Jones, Frink and Wilcox gave very interesting of the sixth annual district report convention held at Broken Bow, Jan. which they attended. A quilt 30, is be used for rehabilitation which to The assistant hostesses work Mercer and Mrs. Smith. were Mrs. The next meeting will be with Mrs. McLaren. Golf Bridge Party The third of the series of bridge the ladies of the parties given by Gibbon Golf Club the Walker Hotel Monday evening was another successful affair. Over one hundred were including number from present, Shelton and Kearney. Refreshments consisting of apple alamode and coffee were served and the evening was very enjoyable one all. lot of troubles could be our settled by allowing none but easily capable people to mix into politics. Fifth Annual Irrigation School To be held at Gibbon, Thursday, March 1931. Leo Wyman acting chairman. The corn show exhibits to consist of ten ears of white or ten of yellow and single ears of any color. Prizes paid by Gibbon business men. Ten ear exhibits, first, second, $3.00 and third, $2.00. For single ears; first second, and third, $1.00. Exhibits to be in by six o'clock March 4th. Judging corn H. Stewart from College of Agriculture experience raising in the Platte Nutter, Shelton. 10:30 State results of ten-acre corn yield H. Stewart, Lincoln. Thirty years pioneering in Sides, Lowell. Cafeteria lunch in charge of church ladies. 1:15 Irrigation exhibit at the county Thornton, Kearney. Watering alfalfa with pumps. Burt, Gibbon. facts on water pump Lewis, Gibbon. 2:05 Kansas pump irrigation facts applied to Knapp, Irrigation Commissioner, Topeka, Kansas. Profitable machinery for gated Wood, Lincoln. Red Cross Donations Buffalo county citizens have contributed more than one thousand dollars to the Red Cross for the benefit of the drouth sufferers of the southern states. In addition to the carload of Gibbon flour, which was bought with Red Cross donations, carload of alfalfa hay was donated shipped from Odessa, and of foodstuffs car was shipped from Ravenna. The following were the subscriptions received and forwarded by this office: Gibbon Reporter $5.00 Patterson 5.00 Rev. Pitman 1.00 Earl Graves 2.00 Covert 1.00 2.00 1.00 Buck and family 10.00 Chan E. Mercer 2.00 Total $29.00 Eighth Birthday Party Miss Darlene Ashburn, assisted her sister, Eureka Huss, entertained fourteen of her girl friends at her home Monday. The party in honor of Darlene's 8th birthday and the home and refreshments were trimmed in Valentine style. Darlene received many beautiful gifts.