Farmers State Bank - St Edward, NE

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: May 1, 1928*
Location: St Edward, Nebraska (41.570, -97.866)

Metadata

Model: gpt-5-mini
Short Digest: 1d29dfef

Response Measures

Full suspension, Books examined

Other: Bank was 'taken over by the state banking board' following heavy withdrawals.

Description

Article (Primrose Press, 1928-05-31) reports Farmers State Bank of St. Edward was taken over by the state banking board last Friday and attributes the action to an extra heavy run on the bank, which was more than their cash reserve could stand. The takeover by the state banking board is treated as a suspension/closure by government action following a run. Date inference: paper dated 1928-05-31, so last Friday is 1928-05-25. No mention of reopening.

Events (3)

1. May 1, 1928* Run

Cause Details: Article states an extra heavy run exhausted cash reserves; no specific trigger (rumor, correspondent failure, or bank-specific scandal) is provided.
Newspaper Excerpt: The reason assigned was an extra heavy run on the bank, which was more than their cash reserve could stand.
Source: newspapers

2. May 25, 1928 Receivership

Newspaper Excerpt: The Farmers State Bank of St. Edward was taken over by the state banking board last Friday.
Source: newspapers

3. May 25, 1928 Suspension

Cause: Government Action
Cause Details: Taken over by the state banking board (government intervention) following the heavy run.
Newspaper Excerpt: The Farmers State Bank of St. Edward was taken over by the state banking board last Friday.
Source: newspapers

Newspaper Articles (1)

1. May 31, 1928 Primrose Press Primrose, NE

Article from Primrose Press, May 31, 1928

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Article Text

Days Gone By Items of interest taken from the files of the Press of years ago: 15 Years Ago A car driven by Dr. Dewey on which there were no lights collided with a Luggy in which Will, Vera and Bessie Robinson and Grace Larson were riding, just east of Primrose. Thieves broke into the depot at Cedar Rapids and robbed the gum vender of a few pennies, A daughter was born to Mr. and Mrs. Clarence Kelley. Twins, a boy and a girl, were born to Mr. and Mrs. Will McCart. A daughter was born to Mr. and Mrs. Earl Weaver. The R. Gundy 160 acre farm was sold to Thos. Reigle for $12,800. An ordinance to restrain domestic fowl from running at large was passed by the village board. 10 Years Ago Sam McBride WAS killed at his home in Louisana by lightning. Frank Sievers took over the local management of the Cedar Valley Creamery here to replace Byron French, who resigned. Jos. Teply sold his quarter section farm to A. C. Thompson at $67.50 per acre. Mrs. Nels Johnson, who resides west of Primrose, is in a very critical condition with an attack of gall stones. are good for new Doctor in Primrose in the future as a ten pound son was born to Dr. and Mrs. G. W. Bartlett on Thursday, May 24th. Latest word from Margaret Wares states that she will be confined to the hospital in Detroit for several weeks yet but that she 18 slowly recovering her health. The Farmers State Bank of St. Edward was taken over by the state banking board last Friday. The reason assigned was an extra heavy run on the bank, which was more than their cash reserve could stand. Miss Loyal Lyons, who has made her home with her sister, Mrs. G. E. Ward, and attended school the past year left Saturday for a visit with her mother at Avoca,Ark. Mr. and Mrs. E.S. Maxwell accompanied her as far as Lincoln. Geo. Snodgrass drove to Paxton Sunday to meet Mrs. Snodgrass who was returning from Ft. Collins Colo where she had been called the previous week by the death of her mother. Harold Snodgrass also went to paxton and from there will go to Longmont, Colo. for the summer. The village authorities have men at work this week painting the water tank both inside and out. Thetank was drained and cleaned out which has made the water supply. low at times as it has been possible to only keep the mains full. After this is completed, however, the water will be fresher and better and the tank will be better preserved. Win First Game Manager Watts and his base ball team went up to Ericson last Sunday for thefr opening game of ball for this season and won from the Erieson boys by the score of to 4. Cowski, pitching for Primrose, pitched a real good game and was given very good support. He was credited with 12 strike outs while Robinson and Boyles for Erieson got 8 and 8 strike outs respectively. hits while their opponents landed 8. The next game scheduled for the home team will be next Sunday when they willsday the fast Fullerton team on the Primrose grounds, The boys show evidence of playing good ball this season and should be given the hearty support of the community. Cedar Rapids Mrs. Mary Homan was passenger Columbus Monday morning to be with her father who was taken to St. Mary's huspital the latter part of the week. Miss Winifred Towey, teacher in the Petersburg school is visiting at the John Towey home west of town. Mr. and Mrs. F. D Burges, Jr announce the arrival of baby gir on May 23rd.- Outlook. BRICK BATS Josephens Myers was hard as nails. He was busky chap. His frame could stand the toughest gales. He had great strenght on tap. His constitution let him ent about ten times a day. To him strong liquor was treat. He smoked the live long day 11. whooped it up till three or four, just seven times week. When others quit, he called for more. He still felt bale and sleek. He hit the trail of raising cain for twentyseven years, and then one day he got pain that shook him to the ears. First thing he know he went kerflop. His gizzard wouldn't go. His ticker had a fanny hop bis pulse was weak and slow. The dector took knife and saw and saved his span of years then gave Josepheus words of law to cram between his ears, So now Josepheus goes to bed at nine P. m. each night. He's quit the life that he once led. for he has seen the light. Tis better far than fame or wealth. to have busky frame, and if do not save our health, we only are to blame, Brick Smith. A miscellaneous shower was held in honor of Agnes Harrahill on the evening of May 24 at the home of Mr. and Mrs. Frank Purdy at which about 70 were present. A three course lunch was served and she received many beautiful presents. The following Sunday evening there was another snower given for her at Mr. and Mrs. Tom McGown near O'Connel when there were about 200 present. She received many more beautiful presents. At a late hour lunch was served, then the evening was finished by dancing All report having had good time. Nebraska Facts The first railroad came, to Nebraska in December, 1863, The governmentiga the United Pacific company every Alternate section of land for twenty mileseach side of the track and loaned $16,000 per mile of roadbed built. through the state, and $48,000 per mile in the mountains. The percapita cost of running the state government of Nebraska was for 1927, as against $7.01 for 1926 and $3.86 in 1917. Nebraska's eleven million hens produce more than billion eggs annually and sold at more than twenty millions of dollars. Nebraska's state university ranks among the ten leading educational institutions of the nation in scholarship and enrollment. Nebraska ranked second among the states in 1927 in production of corn, wheat and sugar. The State of Nebraska IS erecting new dental building on the university campus at Lincoln, a new dormitory for girls Curitis experiment station, and science hall at Peru. Mr. and Mrs. N.J. White and daughter Lettie drove to O'Neil Tuesday to accompany Mrs. E. Tarpenning home from visit here As there were no Memorial Day services here yesterday, large number of Primrose people spent the day at Cedar Rapids and elsewhere. Bans were published Sunday for the second time for the marriage of Mark Purdy of Primrose and Miss Agnes Harrahill of Elgin, which will take place early in June. Mrs. W.J. King and Arletta Robinson left last Thursday for a visit at the J. E. Robinson home near Oshkosh and also-with her mother and other relatives at Gering. The feature picture for next Satirday might will be "Silver Valley" by Tom Mix. The news reels have been discontinued for the time being and a good comedy will be shown Nelson Allard arrived home Friday from Auburn where he has been teaching school the past year and will visit with home folks until Sunday, when be will go to to Lincoin to attend school during the Mr and Mrs. L. II. Whitman drove to Omaha Saturday for a visit with her sister Miss Pluma Wagers and also with a nephew, Martin Burroughs, who had underwent an operation at an Omaha hospital. Martin accompanied them home and, will remain here for a time. Our new serial story "The Red Road" by Hugh Pendexter starts in this issue of the Press. This tascinating story is founded on Indian days with plenty of adventure, suspense and thrills interwoven with an uncommon, satisfying love motif. Read the opening installment this week and you will not want to miss any of this great story.