Farmers & Merchants Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 30, 1931
Location: Sumner, Nebraska (40.950, -99.505)

Metadata

Model: gpt-5-mini
Short Digest: 61c944eb

Response Measures

None

Description

Articles report the Farmers & Merchants State Bank at Sumner was closed voluntarily by its directors and placed in the hands of a state examiner on 1931-12-30. By June 1932 the bank is listed as having a receiver, and by April 1933 dividends paid to depositors are noted — indicating the bank remained closed and entered receivership. No article describes a depositor run prior to suspension.

Events (3)

1. December 30, 1931 Suspension

Cause: Voluntary Liquidation
Cause Details: Closed voluntarily by the directors and placed in the hands of a state banking examiner (voluntary suspension by directors).
Newspaper Excerpt: At Sumner the Farmers' Merchants' State bank was closed voluntarily the directors and placed in the hands of Examiner Castle.
Source: newspapers

2. June 14, 1932 Other

Newspaper Excerpt: Farmers & Merchants Bank, Sumner, receiver, Sumner and Woodriver precincts.
Source: newspapers

3. April 3, 1933 Other

Newspaper Excerpt: The second was $12,710 depositors of the Farmers & Merchants bank of Sumner The dividends from 2.1 percent to 10 percent.
Source: newspapers

Newspaper Articles (4)

1. December 30, 1931 Beatrice Daily Sun Beatrice, NE

Article from Beatrice Daily Sun, December 30, 1931

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Article Text

Death Threats Against Attorney General Omahan OMAHA, Dec. 30. Smith, clerk of the district court here and sociate of Harry Lapidus, slain here last week; today issued saying he had been told that he or Attorney General of Nebraska might the next to be killed. Smith bluntly in his statement that Lapidus was he stacle in the way of ized He took casion to deny the "foul whisperthat Lapidus was "interestin illegal rackets and illicit practices." Gets Message Smith said friend brought him from one, "the very mention name would carconviction.' The message was: sure and tell Bob Smith to watch his step. hear wisperings from the underworld that his and the of Attorare resentney ed. Both of these men are dangin greater danger than Smith the extreme hatred of him. Smith to watch his step. Detective Paul Sutton, informed of Smith's statement, said would police guard for Smith if necessary. BANKS SUSPEND LINCOLN, Dec. 30. bank suspensions Sumner Stapleton were announced today by Governor Bryan. At Sumthe Farmers' Merchants' State bank was closed voluntarily the directors and placed in the hands of Examiner Castle. The Farmers' State bank was closed by officers and directors and placed the hands of Examiner Earl Hogner.

2. December 31, 1931 Omaha World-Herald Omaha, NE

Article from Omaha World-Herald, December 31, 1931

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Article Text

Announce Suspension of Two State Banks Lincoln. Neb., Dec. 30 State bank suspensions at sumner and Stapleton were announced today by Governor Bryan. At Sumner the Farmers' and Merchants' State bank was closed voluntarily by the directors. It was capitalized for 12 thousand dollars; had $5 500 surplus, and 135 thousand dollars in deposits. The Farmers' State bank of Stapleton closed by its officers directors. This bank was 25 thousand dollars; had thousand dollars surplus, and deposits of about 100 thousand dollars.

3. July 6, 1932 The Gothenburg Times Gothenburg, NE

Article from The Gothenburg Times, July 6, 1932

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Article Text

South Side EQUALIZATION MEETING June 14th, 1932, Court House, Lexington, Nebraska. The Board of Equalization met as per the requirements of Statute 771702; consisting of the County Commissioners, County Assessor, and the County Clerk. The Board was called to order by the Chairman, those present: Commissioner Northrop, Costin and Hanna, County Assessor R. B. Lemmon, and County Clerk Carl F. Grim. The following claims were filed with the Board: 1. R. B. Lemmon, to correct assessment in Ringgold precinct. 2. G. M. Love, Cozad, Willow Island precinct. 3. John and E. F. Delahunty, Lexington precinct. 4. A. E. and E. S. Hall, Grant precinct. 5. Mrs. Cora E. Ashcroft, Mrs. Clyde McElmoil, Farnam City. 6. Mennon Hicken, Cozad. 7. E. J. Nichols, Gothenburg. 8. W. H. Wolfe, Grant precinct. 9. C. C. Rosenberg, Lexington. 10. Henry B. Jorgenson, Cozad, Coyote precinct. 11. J. B. Henderson, Cozad, Holmes precinct. 12. Pat Priel, Overton. 13. Wm. Loveck, Lexington, Grant precinct. 14. E. Meyers, Broken Bown, Grant precinct. 15. M. D. Cameron, Omaha, Lincoln precinct. 16. Ludwig Knoedler, Eustis, Ringgold precinct. 17. Carl E. Faught, Agt., Cozad, Ringgold precinct. 18. Homer Davis, Genoa, Lincoln precinct. 19. Farmers State Bank, Lexington, Lexington precinct. 20. L. G. Scudder, Sumner. 21. Mrs. S. C. Fisher, Los Angeles, Cozad. 22. Mrs. Edna Warden, Denver, Colo., Cozad. 23. Karl G. Yeutter, Eustis, Neb., Holmes precinct. 24. Jurgen Aden, Gothenburg. 25. Jurgen Aden, Gothenburg. 26. Mrs. R. C. Greene, Kearney, Woodriver precinct. 27. Mrs. Mina Mullen Volk, Lexington. 28. Harvey Crispin, Lexington, Grant precinct. 29. Rynol B. Johnson, Gothenburg. 30. Isabelle Smith, Lexington, Hillside precinct. 31. Carl F. Lembach, Lexington. 32. Cora E. Ashcroft, Farnam. 33. Ray S. Wycoff, Lexington. 34. John Marrow, Cozad. 35. J. F. Grim, Cozad, Overton precinct. 36. Floyd L. Pallett, Cozad. Petitions were received from Gillan, Blaine, Lincoln and Woodriver precincts, asking for general reduction of real estate. The Board adjourned to June 15th, 1932. Carl F. Grim, County Clerk. BOARD OF EQUALIZATION Court House, June 15th, 1932. As per the adjournment of the Board of Equalization of Dawson County, the Board met at 9 o'clock A. M., all members being present, and the following claims were received: 37. Petition of the Dawson County Farm Bureau. 38. W. Clark Jones, Farnam. 39. Marka Gronewold, Gothenburg. 40. A. O. Hicks, Farnam, Farnam precinct. 41. Fred Vollmer, Overton, Logan precinct. 42. Carrie B. Hinie, Lexington. 43. Geo. Block, Gothenburg. 44. A. A. Kjelson, Gothenburg. 45. Mary P. Ekstein, Farnam, Farnam precinct. 46. W. W. Reynolds, Farnam. 47. John W. Greene, Gothenburg. 48. A. E. Reeves, Farnam. 49. Farmers & Merchants Bank, Sumner, receiver, Sumner and Woodriver precincts. 50. Oliver N. Erixon, Gothenburg. 51. Petition from Farnam precinct. 52. Ruby L. Anderson, Gothenburg. 53. John Cronin, Cozad. 54. W. H. Potter, Cozad. 55. William B. Rice, Cozad. 56. J. A. MacLean, Cozad. 57. W. O. Hammer, Lexington, Kennebec precinct. 58. John Geiken, Gothenburg. 59. Walter Lindholm, Overton, Overton precinct. 60. Mrs. J. C. Simmons, Cozad. 61. Mrs. J. C. Simmons, Cozad. 62. Co-Operative Oil Co., Cozad. 63. Catherine P. Smith, Cozad. 64. Arthur Jensen, Cozad. 65. R. S. Perry, Cozad. 66. Elmer A. Erickson, Sumner, Woodriver precinct. 67. Fred Magnuson, Holdrege, Platte precinct. 68. I. O. O. F., Cozad. 69. Petition from Holmes precinct. Petition from Farnam precinct. Delegation from Holmes and Farnam precincts came before the Board in the interest of reduction of values of real estate in their respective precincts. The Board of Equalization adjourned to meet June 16th, 1932. CARL F. GRIM, County Clerk BOARD OF EQUALIZATION Court House, June 16th, 1932. The Board of Equalization of Dawson County met as per adjournment, at 9 o'clock A. M., all members being present, the following claims were received and filed: 70. Mrs. Mary N. Dougherty, Co- zad. 71. Mary W. Atkins, Cozad. 72. T. D. Shipton, Cozad. 73. Wm. M. Aarnold, Cozad. 74. First State Bank, Gothenburg, Gothenburg precinct. 75. First State Bank, Gothenburg. Gothenburg precinct. 76. Nebr. Bond and Mtg. Co., Omaha, Kennebe cprecinct. 77. Andersen Company, Cozad. 78. Wm. Castello, Lexington, Logan precinct. 79. Armanda Berger, Lexington. 80. First National Bank, Cozad. 81. C. H. Sheets, Cozad. 82. John Tober, Eustis, Holmes precinct. 83. P. C. Wood, Sumner, Woodriver precinct. 84. James P. Carr, Lexington, Buffalo, Kennebec and Hillside precinets. 85. Geo. W. Atkinson, Sumner, Woodriver precinct. 86. Frank M. Johnson, trustee, Lexington, Cozad precinct. 87. Frank M. Johnson, trustee, Lexington, Cozad. 88. Frank M. Johnson, trustee, Lexington, Cozad. 89. Frank M. Johnson, Lexington. 90. Petition of Mable C. Butler, et al, by E. A. Cook, Jr., Atty. 91. Petition of G. E. Stuckey, et al, by E. A. Cook, jr. Atty. 92. Jennie E. Blachert Lexington. 93. I. O. O. F., Lexington and Overton. 94. Orla Eager, Agent, Lexington. 95. Ruth Stewart Sutton, Lexington. 96. Ada Wight Estate, Lexington. 97. T. Y. Dorwart, Lexington. 98. S. M. Dillman, Lexington, Platte precinct. 99. Gottlieb Kugler, Lexington, Ringgold precinct. At ten o'clock A. M., N. M. York, Atty. for Loveck and Crispin, came before the Board from hearing on behalf of claims filed, following which the Board took the matter under advisement until an inspection could be made of the properties. At 2:30 P. M., Mr. Watts and Mr. Shaw came before the Board in the interest of the Natural Gas Distributing Co., assessment of distributing systems in Dawson County, Nebraska. The schedules having been filed, were not accepted as satisfactory by the County Assessor, and after the facts were learned by the Board, a fair estimate was arrived at and agreed to, it was moved by Mr. Lemmon, "That the assessment of the Natural Gas Distributing Co., be assessed at 10% reduction from State Board of Equalization figures of $958 for 2" and $1617 for 4" pipe for low pressure construction, per mile of pipe line." Seconded by Costin. Vote, all vote in affirmative, the Chairman declared the motion carried and the assessment placed accordingly. The Board of Equalization adjourned to Friday, June 17th, 1932. CARL F. GRIM, County Clerk. TIMES Mrs. L. J. Swank, a War mother who left in May to visit the American cemeteries in France, just recently returned home. C. P. Carson is visiting these days with his son, Perry Carson and family, in North Platte. R. D. Fronk of Brady started to deliver mail on route two from Brady Friday, for the first time since the auto accident. Mrs. Anderson of Gothenburg has been visiting her daughter, Mrs. E. E. Atkinson and family, these last few weeks. Rollo Bloom harvested his crop Clover, it being very heavy. Mr. and Mrs. Leo Larson of Gothenburg were visiting at the P. G. Grady and Ira McPheeters home on Friday, spending the rest of the time in the south hills. Port Brown of Gothenburg was on the south side on the Fourth of July He says it was just twenty-five years ago. today that he landed in Gothenburg, and they were celebrating in the Burg that day. He also spoke of the people being to town in wagons, buggies and on horseback. Wonder what the next twenty-five years will bring forth? John Brown and two children were Gothenburg visitors on Saturday. Mrs. L. J. Swank was visiting her daughter in Gothenburg on Thurs day. Mrs. L. Adney and daughter were shopping in Gothenburg Saturday afternoon. The ball team enjoyed a picnie on Sunday. Mr. and Mrs. B. L. Wilson and house guest, Miss Sadie Purdy, of Montello, Nevada, were Sunday afternoon callers at the home of the former's parents. Archie Middleton and son were enjoying an auto ride on Saturday. Mr. and Mrs. Elmer Jacox, C. A. Middleton, Walt and Albert Hecox, Geo. Bailey family, Ray and Earl Coleman, were seen in Gothenburg on Saturday. Understand a wedding was held at the Banner M. E. church on Thursday. Suppose further particulars will be elsewhere in the paper. Many congratulations are extended to the bride and groom, Mr. and Mrs. Roberts. Mr. and Mrs. Cecil Ristine were entertaining guests on Sunday evening. On Tuesday, Rev. Homer Todd of Brady was distributing circulars in regard to the revival tent meetings to be held in Brady July 6-17. The first evening will start with a community supper and getting acquainted. Rev. Thomas of Chicago will conduct the services. Enjoyed a nice rain on Saturday evening. Brady celebrated the Fourth of July on both Sunday and Monday. The folks on the South Side celebrated in various ways. Small grain is getting ripe. Noticed one field on the north side being harvested. Corn looks good and is growing. Some fields on the north side are real short and corn looks quite yellow. Several stacks of this year's wild hay between Brady and North Platte, meaning they will probably get the second crop of wild hay in some places. TIMES John Nickerson, of Sioux Falls, South Dakota, was a guest at the Rev. O. S. Jacobson home Sunday and Monday of this week. Harold, Rynol and Helen Dahlman entertained a party of twenty-five young people at a fried chicken picnic near Devil's Gap in the south canyons on Sunday. Frank Pashby of Overton visited Gothenburg friends over the Fourth. Mrs. Geo. W. Roberts of Maxwell and her daughter, Mrs. Caroline Graham of North Platte, were Gothenburg visitors yesterday. Mr. and Mrs. O. J. Bebber of Denver came Saturday to visit Mrs. Bebber's father, Martin Kraxberger. W. A. Thomas returned Monday from Hoxie, Kansas, where he went Saturday with his son, Dwight, who will work there during harvest. Virginia Dare, the first white child born in America, who was lost with the Roanoke colony, would have been about the same age as Pocahontas, the remarkably intelligent and lightcomplexioned "Indian" girl who befriended the English at Jamestown. January 1 is the official birthday of all thoroughbred horses. Skunks develop their characteristic offensive habits in their early youth and are able to squirt their scent five or six inches when they are kittens only a. few weeks of age. Like tobacco chewers, they become more expert with the passing of time.

4. April 3, 1933 Lincoln Journal Star Lincoln, NE

Article from Lincoln Journal Star, April 3, 1933

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MERE MENTION F. A. Good for mayor.-Adv. H. Amen for commissioner. Ad. Tibbett tonight, coliseum, 8:15 m. Seat Adv. Paul R. Morris for mayor, 16 yrs. practical business experience. Adv. Attend the house auction at 2938 St., April m. See classified page. Forke Bros., The Auctioneers. B1452. Leo Lunis was fined $35 and costs in municipal court Monday morning when he pleaded guilty to theft of an overcoat, flashlight and keys from B. V. Shepherd. Pleading guilty to petit larceny Roy Pethoud was fined and eosts in municipal court Monday morning He was charged with taking three dozen dresses from the S. S. Kresge store. Former Governor Neville of North Platte was at the capitol Monday to look after the passage of an enabling bill to permit construction of storage reservoirs with borrowed federal funds. James Gillen, injured last week when the car in which was riding plunged over an embankment overturned on No. 14th pleaded not guilty to auto- theft charge in municipal court Monday morning and was held under $1,500 bond preliminary hearing April 14. Marshal Weygint expects to to Leavenworth early this week take W. H. Bousfield, former cashier of First National bank of Auburn, who pleaded guilty to taking $3,500 note from the bank making false entries of transactions involving $2,500. He was sentenced to serve two years. An order for removal of the suit of Ethel Edith Roberts against the Central States Life company for $10,000 to the federal court signed by District Judge Shepherd. The action over an insurance policy on the life of William David Roberts, husband of the plaintiff, who met death in silo near Oshkosh, Nov. 12, 1932. Insurance Commissioner Herdman received notice from President Garfield W. Brown of the national insurance commissioners association that meeting state commissioners will be held at Chicago, April and 8 for the purpose of discussing uniformity of rules and regulations erning insurance companies during the moratorium in nineteen states. He will not attend the meeting. Governor Bryan signed extradition warrant for the return of Blum, alias J. Belle, alias L. Belle to the state of Illinois where he is charged with obtaining money from Bertha K. oSnntag by means and by use of confidence game in LaSalle county on January 5. The fugitive is said to. be in custody of authorities at Omaha and is being held for Illinois. E. Welter is named as agent for the state. Samples of thirty bronze lamps to be erected on posts around the outside of the capitol grounds have been received at the capitol. The posts and lamps will be put up within the next thirty days. The park space outside the walks surrounding four square blocks of the capitol grounds, the four courts and some bare spots on the grounds are also to be supplied with sod which could not be laid late last fall. An appeal was taken in district court by the Lincoln Bowling Parlors and the Maryland Casualty company from an award of compensation made to Lee Anderson. is claimed that the award of $12 per week from the date of the accident on Nov. 1932 for period not to exceed 300 weeks is erroneous. Anderson had been paid $6 week for seventeen weeks and it is contended by the insurance company that he is no longer disabled. February was colder and drier than normal the monthly weather summary for Nebraska shows. It the coolest February since 1929, with the average temperature for the state on and one-half degrees under normal. The early February zero wave that swept across the state accounted for the low average. The average ature for the state during the month was 24 degrees. The average precipitation for the month was .22 of an inch, which was .5 of an than the average. Henry J. Warsaw filed suit in district court to collect judgment and costs of $9,037.70 from the Farmers Mutual Hail Insurance company. It is claimed by Warsaw that he has been unable to collect from Cornell & Co. and Charles F. Greensburg on judgment obtained on account of collision and that a policy issued by the incompany covered the liability on the car belonging to the Cornell company, and driven by Greensburg. Katherine Nelson, daughter of Mr. and Mrs. Axel Nelson of 3335 South won the W. U. declamatory contest held Sunday night at Second Methodist church, and was awarded silver medal. Her address was called "Ringing In Better Time. There were five contestants. Music was provided by Mrs. Erma and Jones, accompanied by Mrs. Jones. Miss Josie Sullivan, president of the chapter, talk and Mrs. Anna Jackson led the devotionals. Whether the Wavecrest Realty which conducts resort on the shores of Carter lake, near Omaha, is in damages for the broken neck that Louis Stingis suffered when he dived off the water wheel was the question submitted to the supreme court Monday. The court below directed verdict for the company. which claimed that Stingis knew that where he dived the water was shallow and that making as sailor's dive was dangerous. Stingis elaims that the company was negligent in not providing safe place. The Arapahoe Flour Mills company appealed to the supreme court Monday from a judgment for $5,000 on note to the Citizens State bank entered in district court. The defendant filed counter claim for $15,586, representing checks that Geoffrey R. King and his assistnat, Wanda Adams, signed over period of months, who the defendant says the bank well knew had no authority to sign. The lower court held with the bank on its claim that the company knew they were signing checks and received the benefit of the proceeds. The supreme court Monday denied rehearing in Prudential Insurance company VS. Prebyl, from Gage county, where the defendant pleaded release from mortgage on his land on the ground that discharge in bankruptcy cancelled it. The court substituted another syllabus to conform to the record, to the effect that "where, after an order of referee in bankruptcy permitting mortgagee to foreclose a mortgage, decree of foreclosure was obtained against mortgagor, such decree is valid lien against the property and the discharge bankruptcy does not operate to cancel A total of $102,337.3 was paid out in March to state bank depositors as dividends on claims against failed banks, according to the monthly report of Secretary Luikart of the state banking department. The largest amount paid in the case of any one bank was percent or to depositors of the Farmers State bank of Wood River. The second was $12,710 depositors of the Farmers & Merchants bank of Sumner The dividends from 2.1 percent to 10 percent. Fourteen failed banks participated in the payments. In the case of the Commercial State at Paxton the dividend of 2.1 percent or $3,639, was. final. The supreme court heard arguments Monday Qn the appeal of Receiver Luikhart of the German State bank of Millard from finding of the Cass district court that Henry Meierjurgen does not owe anything on the $4,000 note he signed for his brother. George, a grain dealer. The court below found that it was merely an accommodation note and when signed the defendant was told he would never be called on to pay it. Henry said that George was heavily indebted to the bank, and that the additional credit was given in order. that he might recoup losses on the board of trade and thus be able to pay the bank. The ceiver says that Henry is legally bound to pay. Two questions of major importance were scheduled for argument before the supreme court Monday afternoon in the appeal or Publix Cab from an order of the state railway commission. These are whether the commission has the inherent power and need not wait for legislative authority to determine whether the public convenience necessity requires the additional facilities for service involved in applications before it. and whether the minimum rate statute POLITICAL ADVERTISEMENT. is constitutional. The commission claims it has the right to require certificates of and necessity, and Hugh Drake, one of its to urge that the legislature interfere with its constitutional regulatory powers by attempting to deprive it of complete rate making powers. Briefs as friends of the supreme court were filed Monday in the guardianship case from Thurston county involving dispute between an and uncle of the children of Charles Herten, deceased. These two quarreled over the handling affairs, and the district court removed both of them and put in stranger as trustee. Now another uncle and aunt, Robert W Herter and Mrs. Veigh Barnard, declare they are amazed and aghast at such action when there are nine near relatives any whom would have been glad to serve. They say that injecting stranger into the matter has increased rancor, excited suspicion and deprived the children of the atmosphere of love and affection to which they are entitled while being reared. The Mutual Benefit Life company also intervened. It says that the district court order as to the proceeds of periodical income policy left for the children and the appeal has left with nobody with whom may deal, and under its charter must make payments of interest and dividends. It asks that in its decree the supreme court make definite and adequate order which the district court did not do. John Chovanec's suit against Continental company, for cancellation of a contract was scheduled to go to trial at m. Monday before Judge Munger without jury. Mr. Chovanec Cass county farmer who says the construction trespassed on his land to lay gas pipe line, and his farm much in excess of what he was paid for right-of-way. Mrs. Willie Dwyer Plattsmouth represents him and Frank Rain of Fairbury the construction company. The case originally set for Monday laid until Tuesday. It is brought by Prudential Life Insurance company against C. Bickel as trustee. The second case, also foreclosure, has been deferred because of the illness of Paul Jessen of Auburn, member of counsel for the plaintiff. This is the case of Elizabeth Tynon against Florence Penney Weaks and others. Two other equity cases are to be tried this week, one foreclosure suit of Mutual Benefit Life Insurance company against Andrew Svoboda, the other suit on note, brought by George S. Austin as receiver for the Saunders County National bank of Wahoo against Maurice and R. B. Ward. of education, said Tuesday in reviewing his years in the work the religious welfare council of the University of Nebraska, that never before had he seen SO earnest in their attitudes, especially students of the middlewest. The council met at the Temple cafeteria. The other speaker was Bishop Stamm, Kansas City, of the southwest area of the Evangelical church. Bishop Stamm told the.council that because of the common interests of religious and educational work there should be better understanding between those engaged in the two lines.