Strang State Bank - Strang, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 25, 1927
Location: Strang, Nebraska (40.416, -97.587)

Metadata

Model: gpt-5-mini
Short Digest: e215781d

Response Measures

None

Description

Article (Friend Sentinel, 1927-08-25) reports the closing of the Strang State Bank. The closure is described as resulting from new state banking law minimum capitalization and costs (guarantee fund, taxation), making the bank nonviable; no run is mentioned. I set the event date to the article date.

Events (1)

1. August 25, 1927 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank closed because new state law required minimum charter capital (reported $25,000) and guarantee fund/operating costs made continued operation unprofitable; bank owners appear to have chosen to close rather than recapitalize.
Newspaper Excerpt: Geneva closing of the Strang State bank seems like have one unfortunate feature ... Under the new state law the banking not mitted to charter bank capital stock of less than The capital of the Strang State bank has always been about It seems that capitalists will consent to capitalization of $25,000 ... The guarantee fund law still taking heavy toll from the solvent banks and costs lot of money to run bank now ... be hardship on the people of the Strang community the law deprives them of local bank.
Source: newspapers

Newspaper Articles (1)

1. August 25, 1927 The Friend Sentinel Friend, NE

Article from The Friend Sentinel, August 25, 1927

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Article Text

sunshine what this territory needs. The hay fever sufferers have our sympathy. Rain what holding the gang. School will open Sept. 5th. Good news to some, to An honest attempt to park your parking mendable. should read the new Sportsmen law before starting out on the game Fall hunt. With six Methodist ministers in Friend should care of religiously. Most boys and girls who now fun of their home town will out the foolish habit. grow The trouble should convince our authorities that the immigration laws must be more stringent. check shows that the majority drivers disregarding Friend's trafrules come from Douglas and Lancaster county. Judge Landis declares the law hibiting Sunday dances constitutionWonder the county officials throughout Nebraska decision? Chris Sorenson manages to keep in the political limelight by supportSenator Norris. Chris always did manage to keep me agitated. He kept me awake half the night, once, arguing religion. Eagle has passed an occupation tax ordinance for busses. Now the bus company has asked the railway commission for permission strike Eagle off the route. believe that more towns will pass just such orand the bus companies will have to help share local like the railroad company. At least they should be compelled maintain stations stay prescribed routes through the municipalities. With an injunction suit appealed Crete, special election called Wilber, and meetings being held Beaver Crossing, all over the proposition of furnishing electric power to the several gamble to when the will be started right here in Friend. The subject bobs up in group sion because the contract existbetween the transmission line company and the city near expiration date. Friend power plant including boilers and power steam engine, belted generator, making alternating current, 2300 volts primary and 220 and 110 secondary lines, and the distribution system in excellent shape. The plant not adequate handle the service now, excepting for short times. Another gine and generator might be added part time, but this would not economical and there doubt to whether the low prevailing could be maintained. proposition that will be submitted the the one now contracted Hartington and elsewhere. Oil and generators would stalled and paid for the ment plan from the earnings. This proposition make allowance for the old equipment. The Sentinel not in position to guarantee these statements but events happenof late, leads us to believe that the oil engine intend try and interest Friend people manufacturing their own and power subjected to the transmission line difficulties. proposition glitter and merit and surprising to find many of our citizens favoring But the relationship of the city with the power companies has been very good and the service good, especially since the city's own lines have been into put and made adequate to handle the amount of current necessary serve the patrons. Counter to oil engine proposition will that the companies, and may possible to secure better contract than we now have, and the company serving will be required give least two way service, stead of just promising that the city not in darkness for hours after lightning strikes single station, as recently happened. Even with new contract for transmission line service it might be good thing invest remodeling plant standby. bottle of milk much better than bottle of hooch. Of course you will remember the Harvest Festival in Friend next Wednesday. A terrible ice man and the coal man at the house at the time. The courthouse bonds are voted, but have seen nothing that looks graveling of the highway this locality. are distracted over the matter we do not know whethto sue the Friend Sentinel for breach of promise or rob Frank Bartos News. soon Frank gets home, "feeling like year old boy" will land right on him and lot of other promisers, amongs them the honorable Roy Cochran. If don't action let's enjoin the county and stop the new court house. Geneva Omaha school district janitor who fell from step ladder arm at the elbow while he was cleanglobe one of the school) buildings. The school board tinued his wages but refused to medical The Omaha expenses. school district does not carry compensation insurance for its employees and under the state law becomes its insurance This does company. not enable to liability, escape which the important fact for Nebraska school district member. State Compensation Commissioner Kennedy has awarded Kenneth Tibbittes, the injured man, $15 week for fifty-six week, the being for 25 per cent permant loss of the use of the right togetharm, with medical expenses amounting to and the district will have to pay, Geneva closing of the Strang State bank seems likehave one unfortunate feature that probably not generally anticipated. Under the new state law the banking not mitted to charter bank capital stock of less than The capital of the Strang State bank has always been about It seems that capitalists will consent to capitalization of $25,000 because there could be hope not that investment could made profitable, all things considered. The guarantee fund law still taking heavy toll from the solvent banks and costs lot of money to run bank now, including local taxation and other unavoidable expenses. be hardship on the people of the Strang community the law deprives them of local bank. Geneva National fining Co. has been posting little jokes and wise cracks on its bulletin boards all over the few weeks ago used this: lawyer the truth; for Edward R. Burke, president of the Omaha bar association, reflection the legal profession highly and he brought suit against the corporation for his bar association. The president of the National Refining Co. apologized to Mr. Burke on behalf his expressing regret company, the incident, and Mr. Burke has withdrawn his suit. Mr. Burke be for making row over this insult to his profession. not that all chants and all farmers are liars. course responsible officials of the National Refining Co. would not have the insult the lawyers. Mr. Bürke's jolt will them to give less latitude the jokesmiths they employ.