13643. Sutton State Bank (Sutton, NE)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
May 25, 1929
Location
Sutton, Nebraska (40.606, -97.859)

Metadata

Model
gpt-5-mini
Short Digest
6df2af0b

Response Measures

Full suspension, Books examined

Other: Reorganization/recapitalization efforts by local investors mentioned; reopening apparently completed by August per later notice.

Description

Newspapers report rumors Saturday (causing a run), president James F. Burke committed suicide at the bank Monday (May 27, 1929), the bank was closed pending state examination and reorganization plans; a August 1929 notice indicates the Sutton State Bank reopening was apparently complete. Cause of run attributed to rumors that the bank would not open. No specific false-communication event is described (so random_run False).

Events (3)
1. May 25, 1929 Run
Cause
Rumor Or Misinformation
Cause Details
Newspaper accounts state that rumors the bank would not open for business on Saturday sparked heavy withdrawals/a run.
Measures
Bank remained open Saturday; reorganization planned; stockholders summoned to meet.
Newspaper Excerpt
Rumors Saturday that the bank was not to open for business caused a run on the bank, M. Figi, vice president of the bank, told the United Press.
Source
newspapers
2. May 27, 1929 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Financial difficulties concerning the bank (and the president's subsequent suicide) prompted closing and state examination; articles link the bank's financial troubles to the closure following the run and suicide.
Newspaper Excerpt
The bank did not re-open for business Monday. Officers ... immediately closed the bank pending an examination of its affairs by the state department.
Source
newspapers
3. August 1, 1929* Reopening
Newspaper Excerpt
The Sutton Register stated last week that were apparently complete the reopening of Sutton State bank this The bank at the time the death its president few weeks ago. (Aug. 15, 1929 report indicates reopening was apparently complete.)
Source
newspapers

Newspaper Articles (13)
1. May 27, 1929 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, May 27, 1929

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Article Text

BANKER, KILLS Prseident Sutton State Bank Ends Life by ShootingFinancial Difficul. ties Blamed. SUTTON. Neb Burke, president of the Sutton committed suicide Monday by himself thru the heart with rifle. Financial difficulties the bank are said to have prompted the act. The took place in the bank about Monday The only other man in the bank at the time Ed the book keeper. He was in an adjoining room. Rumors Saturday that the bank not to open for business caused on the bank, Figi, vice president of the bank, said. The bank remained open day Saturday, however, but in reorganization was planned. By thi sreorganization, Tom Burke, brother of the president, and Earl Wilkins, Geneva, were to take over the controlling interest in the bank. The bank did not reopen for business Monday

2. May 27, 1929 The Columbus Telegram Columbus, NE
Article from The Columbus Telegram, May 27, 1929

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Article Text

PRESIDENT OF BANK SUTTON SUICIDES AT Sutton, May Burke. president of the Sutton State bank. committed suicide today by shoothimself through the head with ing rifle. Financial difficulties concerning the bank are said to have prompted the act. The suicide took place in the bank about today. The only other man in the bank at the time was the bookkeeper. He in an joining room. Rumors Saturday that the bank was not open for business caused run the M. Fiji, viceon president of the bank, told the United Press. The bank remained open all day Saturday, however, but in the ning planned. The bank did not reopen for business today.

3. May 27, 1929 The Hastings Daily Tribune Hastings, NE
Article from The Hastings Daily Tribune, May 27, 1929

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Article Text

STAYS CLOSED Run Continues All Day Sunday-Reverses Cause Act. James F. Burke, president of the Sutton State Bank, committed sul cide today by shooting himself through the head with a rifle nancial difficulties concerning the bank are said to have promoted the act. The suicide took place in the bank about m. today. The only other man in the bank at the time was Ed Kirchhefer, the bookkeeper. He was an adjoining room Rumors Saturday that the bank was not to open for business caused run on the bank, M. Figi, vice president of the bank, told the United The bank remained open all day Fully Saturday, however, but in the evening, re-organization planned. By this re-organization, Tom Aged Burke of Grafton, brother of the late president, and Earl Wilkins, Geneva, were to take over the con trolling interests in the bank. likes The bank did not re-open for business today Burke had left on his desk note to his wife. The nature of its contents was not divulged. stockholders of the bank were to meet 8 m. Going to the bank early this morning, Burke called several stockholders, asking them to come to the bank immediately as there was important business be transacted. When they arrived, he was dead.

4. May 27, 1929 The McCook Daily Gazette McCook, NE
Article from The McCook Daily Gazette, May 27, 1929

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Article Text

SUTTON BANK HEAD DIES OWN HAND Run On Bank Saturday Said To Have Occasioned Act Of James Burke Sutton, Neb., May 27 James Burke, president of the Sutton State bank, committed suicide today, through head ancial difficulties concerning the bank are said to have prompted the The suicide took place in the bank about today. The only other man the bank at the time Ed the He was in an adjoining room. Rumors Saturday that the bank was not to open run bank, Figi, president of the bank, told the UnitPress. The bank remained open all day Saturday, however, but in the ning, re-organization planned. this re-organization, Tom Burke, Grafton, brother the president who committed suicide, and Earl Wilkins, Geneva, were to take over the interests in the bank. bank did not re-open for business todav. Burke had his desk note his wife. The nature of was not divulged. The of the bank were meet at Going the bank early this morning, Burke called several asking them to come to the bank immediately as there was business be transacted. When they arrived, he was dead.

5. May 27, 1929 York News-Times York, NE
Article from York News-Times, May 27, 1929

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Article Text

BANKER SUICIDES o'clock. Work in the rank Neb., May will conducted. James Burke, president Sutton State bank, committed suicide today himself through the head with rifle. Financial dif- Regular meeting Tuesday evening. Social hour will follow the business ficulties concerning the bank are to prompted the act. meeting. The suicide took place in the bank DIES AT LINCOLN today. The only other Chas. Derr, brother of the late man in the bank at the time Ed Lon Derr of this city died at his the He was home in Lincoln Thursday from adjoining room. paralysis. Mrs. Lon Derr and Rumors Saturday that the bank and Mrs. Fred Scamehorn went not open for business caused on the Lincoln Sunday to attend the funvice president of the bank, told the services. Burial was TecumPress. the family home. The bank remained open all Saturday, however, but in the SELLS LINE Archie Samuels announced today this Tom that he has disposed of his taxi buslGrafton, brother of the president known as the York Taxi ness, comcommitted suicide, and Earl to McCormick Taxi company also

6. May 28, 1929 Kearney Hub Kearney, NE
Article from Kearney Hub, May 28, 1929

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Article Text

BANK PRESIDENT IS SUICIDE AT SUTTON Run On Bank Reported Cause of Taking Life. Sutton, Neb., May Burke, president of the Sutton State bank, committed suicide yesterday by shooting himself through the head with rifle. Financial difficulties concerning the bank are said to have prompted the act. The suicide took place in the bank about seven m. The only other man in the bank at the time was Ed Kirchhefer, the bookkeeper. He was in an adjoining room. Rumors Saturday that the bank was not to open for business caused run on the bank, M. Figi, vice president of the bank told the Uuited Press. The bank remained open all day Saturday, however, but in the evening, reorganization was planned. By this reorganization, Tom Burke, Grafton, brother the president who committed suicide, and Earl Wilkins, Geneva, were to take over the controlling interests in the bank. The bank did not reopen for business Monday. Burke had left on his desk note to his wife. The nature of its contents was not divulged. The stockholders of the bank were to meet at eight Going the bank early in the morning, Burke called several stockholders. asking them to come to the bank as there important. business be When they arrived, he was dead. H. Crawford Funeral Director East Lincoln Way. Dial 28791

7. May 28, 1929 Nebraska Daily News-Press Nebraska City, NE
Article from Nebraska Daily News-Press, May 28, 1929

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Article Text

BANKER KILLS HIMSELF Takes Own Life When Bank Fails, Run Began Saturday SUTTON, Neb., May James Burke, president of the Sutton State Bank, committed cide Monday by shooting himself through the head with rifle. nancial difficulties concerning the bank are said to have prompted the act. The suicide took place in the bank about The only other man in the bank at the time was the bookkeeper. He was in an joining room. Rumors Saturday that the bank was not to open for business caused run on the bank, M. Figi, vice president told the United Press. The bank remained open all day Saturday, however, but in the ing planned. The bank did not reopen for busiMonday.

8. May 28, 1929 The Stockman's Journal Omaha, NE
Article from The Stockman's Journal, May 28, 1929

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Article Text

SUTTON STATE BANK PRESIDENT SUICIDES Financial Difficulties Concerning the Bank Blamed for Act of James F. Burke. F. Burke, president of the Sutton State committed suicide Monday by shooting himself head with rifle. Financial concerning the bank are said to have prompted the act. The suicide place in the bank about The other the bank the time was Ed the He was in an Rumors that the bank was not to open for business caused run president the United Press. The all day but was planned. By this Burke, Grafton, brother the committed and Earl Wilkins, Geneva, were to take over the controlling interests the bank. The bank did not re-open for business Burke had left on his desk to his The nature of was not divulged. The of the bank were to have met Monday Goin gto the bank this morning, Burke several asking the bank there business to transacted. When they arrived, was dead.

9. May 29, 1929 The Falls City Journal Falls City, NE
Article from The Falls City Journal, May 29, 1929

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Article Text

President of Sutton Bank Takes Own Life Sutton, Neb., May 29 (U.P.). James Burke, president of the Sutton Sate bank, committed suicide today by shooting himself through the head with a rifle. Financial difficulties concerning the bank are said to have prompted the act. The suicide took place in the bank abcut 7 a. m. today. The only other man in the bank at the time was the bookkeeper. He was in an adjoining room. Rumors Saturday that the bank was not to open for business caused a run on the bank, the vice president told the United Press. It did not open for bysiness today.

10. May 30, 1929 The Fillmore Chronicle Fairmont, NE
Article from The Fillmore Chronicle, May 30, 1929

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Article Text

Bank President Burke Found Dead Monday Sutton, Nebr., May Special to State Journal)-James F. Burke, president of the Sutton State bank, either intentionally killed himself in the banking offices here Monday or was the victim of the accidental discharge of a rifle. Officials said the death was suicide. The tragedy occurred between 6 and 7 and was disclosed when Ed Kirchhefer, bookkeeper, working in the rear of the building, heard the report of a gun and found Burke in a heap upon the floor the rifle by his side. Officers of the concern, headed by Burke for nearly fifteen years, immediately closed the bank pending an examination of its affairs by the state department. Rumors Saturday that the bank was not to open for business caused a run on the bank, M. Figi, vice president of the bank, said. The bank remained open all day Saturday, however, but in the evening, a reorganization was planned. By this reorganization, Tom Burke, of Grafton, brother of the president, and Earl Wilkins, Geneva, were to take over the controlling interest in the bank No motive was advanced for Burke's death, in event it was found to be suicide, tho rumors were related Monday that the Sutton bank was to be merged with another institution. The bank was formerly headed by the late Frank Sloan, Burke succeeding him in office. Tom Burke, Grafton banker, is a brother of the dead man. Mr. Burke is survived by his widow and two children. With both of Sutton's banks closed, bank examiners were making valiant efforts here Tuesday to reorganize the institutions and give the town a bank again. The only other bank in the town, the City State bank, was closed April 1 with deposits of $223,000. This bank is being reorganized and recapitalized by a local group of citizens working with the depositors' committee. It is expected to reopen within a few days. FINE $15.00-COSTS $10.20 On Saturday Frank Miller principal of Fairmont high school, swore out a complaint charging Harold Hurst and Glen Porter with assault on the night of Friday, May 24. Sheriff Little served the papers and the two young men were up before County Judge Landgren Saturday afternoon. Both plead not guilty, but on the evidence produced His Honor fined Porter $15.00 and costs taxed at $10.20, which he paid. The charge against Hurst was dismissed. It appears that the incident was the result of ill-feeling which has existed for several months. Bad business, and the less of it henceforth the better for the community.

11. May 30, 1929 The Fairfield Auxiliary Fairfield, NE
Article from The Fairfield Auxiliary, May 30, 1929

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Article Text

SUTTON BANK CLOSES We sympathize with the town of Sutton. Saturday night, the Sutton State Bank closed, which is the second bank to close in that town within a few weeks. Fairfield people know how hard it is to get along without a bank and how it paralyzes business for a time. In addition to the bank at Sutton closing, James F. Burke, president of the bank, killed himself Monday morning. The banking situation in Nebraska is about as bad off as it can very well be. Now, when a bank closes, the people have quit having confidence in the state guarantee law and it makes a run on any bank in town. The people cannot be blamed for being jumpy as they have been taken in by a bad law. From this on, the best banker is the careful banker. The people can no longer have confidence in the law but they can have confidence in the men behind an institution.

12. May 30, 1929 Superior Weekly Journal Superior, NE
Article from Superior Weekly Journal, May 30, 1929

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Article Text

SUTTON MAN IS DEAD; BANK STAYS CLOSED James Burke, president of the Sutton State Bank at Sutton, Neb., committed suicide Monday by shooting through the head with a rifle. Financial difficulties concerning the bank are saidto have prompted the act The suicide took place in the bank about seven o'clock Monday morning. The only other man in the bank at the time was Ed Kirchefer, the bookkeeper, who was in an adjoining room. Rumors Saturday that the bank was not to open for business caused a run on the bank, according to M. Figi, vice president of the bank. The bank remained open all day Saturday, however, but in the evening a re-organization was planned. By this re-organization, Tom Burke of Grafton, brother of the late president, and Earl Wilkins, Geneva, were to take over the controlling interests in the bank. The bank did not re-open for business Monday. Burke had left on his desk a note to his wife. The nature of its contents was not divulged. The stockholders of the bank were to meet at eight o'clock. Going the bank early in the morning, Burke called several of the stockholders, asking them to come to the bank immediately, as there was important business to be transacted. When they arrived, he was dead.

13. August 15, 1929 Nebraska Signal Geneva, NE
Article from Nebraska Signal, August 15, 1929

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Milligan. She also visited her parents while here FAIRMONT NOTES. (Fairmont Chronicle,) Mr. and Mrs. Homer Farrar leave today for their home at Neb. Farrar has finished his course and will teach the consolidated school next year. Bobbie, son of Mr. and Mrs. Arch Stines, fell Saturday and sustained cut on his right above the knee which required eral surgical stitches. Dr. Albertson sewed him up. Mr. and Mrs. Lee Watson, who have passed the summer here with his parents, left Saturday Ainsworth to visit her mother. Watson will again be employed perintendent of schools at Nebraska. Charles Miller, Seattle capitalagain Fairmont's old settlers picnic, by sending $23 check to assist in lubricating the wheels That's substantial proof that Mr. Miller still thinks kindly of the old home town, despite his sence of thirty years. Smith, aged eighty years, suffered paralytic stroke Thursday night, his home in Fairmont. The attack affects his left side, though he was able to be up Wednesday. His son Shirley came from Madrid, Neb., Saturday, accompanied by his sister, Mrs. H. Bechtol, to care for their father. Rev. James Brown, pastor of the Federated church of Aurora, and his family were visitors last week at the home Dr. and Mrs. Perry. The Presbyterian church Aurora was burned recentand plans are now being made for the building of new Federated church on the same plan as the church Mrs. Charles H. Little was hostess to fifteen guests Saturday morning bridge Guests M. Kemp. W. DemLee Watson, Nedrow, William Boren, Watson, Brown, Leroy Stines, Emma King. Misses Elizabeth Wright and Gladys Hayden. Mr. and Mrs Truman Hibbard and son and daughter of Minneapolis, Minn., were Fairmont Monday, inquiring about pioneer landmarks in West Blue. Mr. Hibbard son of the late Rev. Charles Hibbard. Methodist circuit rider of the seventies, who then the farm now occupied by Perkins some additional land West Blue. The Hibbards left Fillmore county many years ago, BRUNING NOTES. (Bruning Banner.) Mr. and Mrs. Phelps and family of Geneva were in town SunMr. and Mrs. W. E. Bruce and Jean were Sunday guests Mr. and Mrs. Carter and Miss Helen Bruning of Geneva is spending her with her parents, Mr and Mrs. William M. Eruning and famliy Mr and Mrs. Ferdinand Trapp and family of Shickley Thursday morning for trip through the Black Hills. They will also visit relatives in South and Mrs. Fred Komarek, Mr. and Mrs. Joe Komarek of Ohiowa, Miss Rose Komarek of Geneva and Miss Irene Ptak Armour spent Sunday in York Mr. and Mrs. House, Edna and Ruth, Mr and Mrs. Oscar Weaver and family Geneva, Mr. and Louis House and Vivian. and Nettie House, Mr. Mrs. Alice Dow and children were Conner's park Sunday. Mrs. Allen accompanied her daughter, Mrs. Joseph and Ruzicka, to Plainview for visit several days ago. Dr and Mrs. RUzicka had west on vacation and at on the drive to their home at Plainview. The Sutton Register stated last week that were apparently complete the reopening of Sutton State bank this The bank at the time the death its president few weeks ago. Notice to Creditors of Estate. Notice is hereby given to all persons claims against the Estate of Karl that unless such claims filed the office of the County Judge Fillmore County, before the 20th day of December, 1929, o'clock they will forever barred from allowance against said estate; that being the time and place when all such claims will examined and adjusted. Dated August (Seal) GEO. LANDGREN, 45-4 County Judge.