13619. Farmers & Merchants Bank (Sterling, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 10, 1931
Location
Sterling, Nebraska (40.459, -96.378)

Metadata

Model
gpt-5-mini
Short Digest
1caa485e

Response Measures

None

Description

Newspaper text (Sep 10, 1931) names Clarence G. Bliss as receiver of the Farmers' and Merchants' Bank of Sterling, indicating the bank failed and went into receivership. A Jan 20, 1932 article reports dividend payments to depositors (payments of 46% previously and further 10%), consistent with a closed bank in receivership making distributions rather than a reopened operating bank. No run is described in the texts provided.

Events (3)

1. September 10, 1931 Receivership
Newspaper Excerpt
Clarence G. Bliss, receiver of the Farmers' and Merchants' Bank of Sterling, ... Receiver excepts. ... Mr. Bliss asking the court to allow $15.00 and expenses from each bank ... filing of affidavit ... hearing on petition in intervention ... court finds that Mr. Graf is entitled to receive his claim against the bank. (Tecumseh Chieftain, 1931-09-10).
Source
newspapers
2. September 10, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was declared insolvent and a receiver (Clarence G. Bliss) was appointed; articles discuss receivership proceedings and claims against stockholders.
Newspaper Excerpt
Clarence G. Bliss, receiver of the Farmers' and Merchants' Bank of Sterling, vs. Henry F. Eilers. On stockholders' liability.
Source
newspapers
3. January 20, 1932 Other
Newspaper Excerpt
The Farmers Merchants Sterling pay 10 percent It paid 46 percent or $32,591.93. (Lincoln Journal Star, 1932-01-20).
Source
newspapers

Newspaper Articles (2)

Article from The Tecumseh Chieftain, September 10, 1931

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Article Text

IN THE CONSIDERABLE BUSINESS DISPOSED OF THIS WEEK. Some Cases Settled Out of Petit Jury Excused Until Later Day. The regular fall term of district court for Johnson county was opened by Judge B. Raper in Tecumseh, Monday morning, and was adjourned, Tuesday evening, until Friday morning. The appeal case of Lowe, claimant, the estate of Charles Rothell, deceased, had been fixed for Tuesday morning, the jury to report that time. However, the case was settled out of court, and, as other jury cases were not ready, the jury was excused for the time being and will probably be called later. The damage case of Harry C. Little versus Herman Schneider, et had been slated for Wednesday, and this case was also settled out of court. Other cases ruled on up to the close of court, Tuesday evening, were as follows: Cook State Bank of Cook, Neb., Louis H. Schmidt. On notes. Dismissed by plaintiff without prejudice. Margaret Meisinger, by Phillip Meisinger, her father and next friend, Robert Ehmen, et al. Damages. vs. C. Radke withdraws as attorney for plaintiff. In the matter of the application of Joseph M. Hobbs, administrator of the estate of Loretta E. Hobbs, to sell real estate. Dismissed by administrator. Clarence G. Bliss, receiver of the Farmers' and Merchants' Bank of Sterling, vs. Henry F. Eilers. On stockholders' liability. Motion of Margaret Boatsman Wikoff, Ralph Boatsman and Carrie Johnson to require plaintiff to state date bank was declared insolvent, receiver appointed and date amount of debts unpaid declared and amount of stock and spective liability of each defendant sustained, and plaintlff given ten days to file amended petition. Demurer of Henry Eilers overruled and he given fifteen days to answer. State of Nebraska, ex rel. Sorensen, attorney general, vs. Tecumseh State Bank. Receivership. Application was to be made for the appointment of H. Luikart receiver Clarence G. Bliss over the succeed banks now in receivership in the First judicial district, but the application was not signed by Mr. Luikart, and no action was taken by the court until the application was signed. The court inferred he would make the appointment upon proper procedure, but stated he would give Mr. Bliss time to make and file his reports as such receiver, and Mr. Bliss' attorney stated Attorneys for this was satisfactory. Mr. Bliss asking the court to allow $15.00 and expenses from each bank and this is to be for attorneys' fees, taken up and determined by the court later filing of affidavdate, upon its. Hearing on petition in intervention of Betzelberger as to classification of claim, was tried, and after hearing the evidence and argument of cousel, the court took the matter under advisement. On the hearing on petition of intervention of A. Graf, court finds that Mr. Graf is entitled to receive his claim against the bank. Receiver excepts. Lincoln Savings and Loan Association Nellie Anderson, et Foreclosure. Sale confirmed and deed ordered. Farmers' and Merchants' Bank of Deshler, Neb., VS. Anna Sirienka, al. Partition. James Livingston, given leave to answer executor, plaintiff's petition and of Henry Gerdes, in three days. In the matter of the application of Earl Lantz, executor of estate of Leander W. Lantz, deceased, for cense to sell real estate to pay debts. License granted and bond of executor fixed at $2,000.00. H. Luikart, receiver of the Tecumseh State Bank, vs. George Townsend. On note. Judgment for plaintiff entered in the sum of $5,102.55. Mutual Benefit Life Insurance Company vs. Charles Mandery, al. Foreclosure. Default of all defendants taken, except Charles and Hazel Mandery; plaintiff's counsel waives right or claim to personal liability of Charles and Hazel Mandery; court finds due plaintiff $6,461.66, first lien on property and drawing interest at 10%. Luikart, receiver of the Tecumseh State Bank, vs. Dwight Putman. On two notes. Judgment for plaintiff entered in the sum of $7,Luikart, receiver of the Tecumseh State Bank, Nestor. On note. Judgment for plaintiff entered in the sum of $6,850.96. The case of M. Morrissey VS. Cleveland Tractor Company and Travelers' Insurance Company. Appeal from award of compensation commissioner has been set for Friday morning. Commissioner awarded Mr. Morrissey $15.00 per week from May 31, 1930, for period of 125 weeks, for injuries received to Insurance company objected, stating that, at the time the plaintiff suffered injury was not working for the tractor com- and was not engaged in his usual line of duties for said defendant company. The injury sustained Sunday or on day the plaintiff was not at work, though he was still in the employ of the company. CHARLES VARVEL DIED IN LINCOLN Charles Varvel, long time resident this community, died at the home of daughter, Mrs. Feastner, Lincoln, Tuesday afternoon at 4:15 o'clock. He was aged years. Before locating in Lincoln, some two or three years ago, Mr. Varvel had lived in this section for more than sixty years. His wife died year ago last March, and, besides Mrs. Feaster are two other daughters, Mrs. Irvin Long, Northport, and Mrs. L. Richardson, Morrill; and six sons, Charles, Lincoln; S., Grand Island; E. and Crawford, and Morrill. The remains will be brought to Tecumseh by the children, and the neral will be held at the Methodist church, Friday afternoon at 3:15 o'clock, in charge of Rev. H. Tay lor. The interment will be in the cumseh cemetery. E. B. Estes and son, Clarence Estes, are exhibiting samples of corn from the fields they irrigated this summer. is fine. Norman Thruax of Omaha spent the with Ed Goosman, west of the city. The men were chums and it has been forty years since they met. Mrs. Mary Heskett, who makes her home with her daughter, Mrs. Howard, in Tecumseh, and has been ill for number of weeks, is considerably improved at this time. Mr. and Mrs. Fred Keim and Mr. Keim's concrete crew of six men went to Beemer, Wednesday. The men will work on the Beemer north and Wishighway contracts for some time. Mrs. Lucille Croft Tackley, who had been visiting with her mother, Mrs. Croft, and sisters, the Misses Irma and Miriam Croft, at Lineoln and Tecumseh, departed for her home at Beverly Hills, Cal., Thursday. Miss Irma accompanied her as far as Denver. John Loos of Tecumseh, who underwent an operation for rectal trouble in Beatrice hospital, one day last week, was able to return home, Monday. Dr. V. D. Douglas of Crab Orchard brought the patient to his home. Mr. Loos is doing nicely, and up and about some each day. The funeral of Mrs. Bryan Kavanagh of Crab Orchard was held at St. Andrew's church in Tecumseh, 10:00 o'clock, Friday morning, and was largely attended. Relatives had come from many points to be present the obsequies. Father Thomas Barden was in charge of the services. The interment was in the family lot in St. Andrew's cemetery, north of the city. Wilson Majors died at his home Peru, Tuesday morning. He was brother of Col. Majors and had resided in Peru for seventy years. The funeral services were held at the home, Thursday. Mr. Majors was born June 1843, in Iowa, and came Peru im listed in the First Nebraska volunteer infantry, was appointed second lieutenant, and later served until 1866 battalion adjutant. After this attended the Peru normal, then came clerk of the United States ternal revenue assessment office, elected county clerk of Nemaha county in 1873 and served three terms in this position. The deceased was known many of our people.


Article from Lincoln Journal Star, January 20, 1932

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Article Text

STATE REOPENS ITS DOORS Depositors to Be Paid in Failed Banks Pay Dividends. The reorganization of the Crawford State bank, for busiand the payment total of dividends depositors five failed state banks were by Governor Bryan. The Crawford State bank business Oct. 21. The new R. Ivins, president, Duncan, vice president cashier. The capital stock $30,000, surplus $10,000 undivided profits about $3,000. The bank reopened with deposits $160,957. The depositors co-operated in the reorganization by signing agreeing to cept of their but all depositors are to be paid in full and without any depositors of the Farmers State bank of Loomis, upon order of the district court, dated Dec. totals $7,163.37, 10 percent. During receivership percent $32,235, had previously paid. The Battle Creek Valley bank at Battle Creek will now cent dividend viously 15 percent or $42,900.61 been paid. The Bruno State bank will pay 10 percent, or $12,188.73. The State will pay percent $22,685.97. had viously paid 15 percent or $68,The Farmers Merchants Sterling pay 10 percent It paid 46 percent or $32,591.93.