13696. Nebraska State Savings Bank (Wahoo, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
April 15, 1930
Location
Wahoo, Nebraska (41.211, -96.620)

Metadata

Model
gpt-5-mini
Short Digest
2d1bcaa6

Response Measures

None

Description

The Nebraska State Savings Bank in Wahoo was taken over/closed by the State Banking Department in mid-April 1930 due to slow collections from continued low farm prices; the Saunders County National (same building/owners) suspended business at same time. A receiver is later named (Jan 1931), indicating permanent closure/receivership rather than a temporary suspension and reopening.

Events (2)

1. April 15, 1930 Suspension
Cause
Local Shock
Cause Details
Continued low prices of farm products made collections slow; depletion of reserves led the State Banking Board to take over the bank and suspend operations (bank occupies same building as Saunders County National).
Newspaper Excerpt
The state Banking Department closed the Nebraska Savings Bank here last Tuesday.
Source
newspapers
2. January 15, 1931 Receivership
Newspaper Excerpt
Clarence G. Bliss, Receiver of the Nebr. State Bank of Wahoo, has filed petition in district court ... Another Petition has been filed for foreclosure wherein Clarence G. Bliss, Receiver of the Nebraska State Savings Bank is Plaintiff ...
Source
newspapers

Newspaper Articles (7)

Article from The Sioux City Journal, April 17, 1930

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Article Text

Six Saunders County Banks Close Doors Lincoln, Neb. (AP) Six small banks in Saunders county, with deposits aggregating $1,400,000, have been closed in two days. They were part of privately owned chain/in which F. J. Kirchman had the controlling interest. The break came Tuesday when the Saunders County National bank, with deposits of $500,000, and the Nebraska State Savings bank shut their doors. Both were in Wahoo, the county seat. The state banking department Wednesday announced the closing of four other institutions in smaller Saunders county towns. Wisner Early Settler Dies Wisner, Neb. Special: Julius Jahns, 79, resident Wisner and vicinity 48 years, died in a Norfolk


Article from The Independent, April 17, 1930

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OF WEEK Made Being and Open Within Short Time COLLECTION SLOW Kirchman, States That "Depositors Will Not One Citizens Wahoo and Saunders surprised by the closthe chain of banks of of which Kirchcounty banker, president, during Tuesday Wednesday. Wahoo institutions, Nebraska State Savings Bank and The Saunders County National Bank closed Tuesday former was closed by the banking and the closed by the board shortly following. The banks Weston, Touhy, Valparand which Mr. chman president closTuesday afternoon and Wednesday morning. combined deposits of all the banks involved but "not dollar lost the depositors,' President Kirchman stated. possible effort being pended reorganize" he said, whether this possible can told for certain until after examiners have completed their reports." have spent years Mr. Kirchman said, all that time have always during transactions according governed best judgment and the this unfortunate condifor tion entirely to slow the banks cannot be tions. shall be stripped, but opened will not still very hopeful am the banks soon the examiner ready port President Kirchman although can't tell


Article from The Independent, April 17, 1930

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To the People of and Saunders County: to continued low prices of farm products, Owing bank collections have been rendered slow. Unwilling the of farm notes the Kirchman afto force payment filiated banks suffered depletion of their reserves. This caused the State Banking Board to take over the Nebraska State Savings Bank, and because this bank occupies the same building, the continued operation of the Saunders County National Bank became unand by voluntary act of the Board of Directtenable, ors, sanctioned by the Federal Reserve Bank, the Saunders County National bank suspended business.


Article from Wahoo Newspapers, April 17, 1930

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WILLS AND ESTATES EVA KNOBE The Eva Knobe of died Lincoln, March has been filed for probate. Personal property estimated Edwin Knobe, husband, Ashland; Gordie Knobe, Marcus Knobe, Ashland; Williams, Greenwood; Grace Sutton, daughter, Waverly. ANNA FRANSON The died March, 27, The estate consists of estate and personal property hairs Victor Franson, son, Colon; Elmer Franson, Colon; Anderson, Colon, daughter. The latter petitioner and the petition that Victor Franson quests Elmer Franson execute the Galloway the attorney. JOSEPH CIZEK The Joseph Cizek, Prague, March 29, The are: Thomas, Joseph and James Cizek, sons; Marie Agnes Cizek, daughfiled by Marie Cizek, asks that Catherine Cizek administratrix. Slama and Donato are attorneys. JIRI BARTEK for of petition has filed in the Heirship Jiri Bartek, who died estate Aug. 1913. The petition alleges that than years have elapsand has been appointed. The living Joseph, John, George, Andrew, and Julius the and Kamilla Kash Veronika Zetochka, Bartek, daughters. Joe F. Berggren the attorney. CHARGED WITH FORGERY Rudolph Kracman, arrested Malmo Sheriff Mengel, before Justice Lehr arraigned of forging check for charge dollars Osten, farmer. Kracman pled guilty bound District Court. being county jail pending sentence. ELECTRICAL WIRING Electrical wiring and repairing all kinds certified electricians. Anderson Webster Electrical Phone 171, Wahoo. The state Banking Department closed the Nebraska Savings Bank here last Tuesday The Saunders County National Bank, operated same building the same officers, was closed the same time by order the Board Directors. Slow collections caused the banks to close doors. the depositors either penny, declared presithe two institutions. "There are adequate assets to take under the Bank After Banking the Sav ings Bank, the Board of Directors voted to close the National Organized in 1882. The bank organized by George Dorsey of mont 1882, Saunders County National came into existence two years later. banks have steadily, and were among the first small town banks state have million dollars deposits. Kirchman, president of the institutions, connected these banks continuously for almost half century. He came Wahoo, December 1884, and accepted unimportant post the bank. 1893 he pointed assistant cashier, and rise rapid thereafter. promoted vice president 1900 president 1923. Other officers the Kirchman, cashier: Malcolm cashCharles ant the Podhaisky, Teller; Max clerk; Arnold Kirchman, clerk; Roy The last statement the $273,646.32 creditthe Nebraska State Savings Bank and the Saunders County National. Total Examiner Larson charge the Savings Bank Examiner charge of the National Bank. today, State Bank George Woods declared the failure of Wahoo banks precipitated the closing of the following affiliated banks Saunders county: State Bank Touhy, ficers Petermichel, president; Kirchman, president; Kirchman, president, and and bank, Weston, whose officers Kirchman, president, Petermichel, president, Ferdinand Pacal, cashier, James Pavlik, sistant cashier, deposits $168,State bank, of Colon, whose officers are president; Bastar, Sams, vice Henderson, cashier, deposits, Oak Creek Valley bank, araiso, whose officers Kirchman, president; Jul Petermichel, Moscashier; Roh, assistgrove, cashier, deposits Examiner Nelson the Nationbanking system charge Saunders County bank, while the state charge the state Larson, State SavBank Farmers and Merchants Sorensen, State Bank, Virgil Oak Creek Valley Bank Valparaiso. While the other banks the First and Citizens State Banks fortified with large sums cash to meet demand that might made. One the heaviest creditors Saunders County National Bank Saunders County which $25,000 These funds protected by surety bonds, the responsibility the bank. SILENCE IS GOLDEN The local financial situation for exercise more ordinary patience and forbearance the banks have opportunity re-organize their shat tered fortunes. going profit reviling and charging officials with adding the already existing. enough hurtful comment for the time being, least. There for radical thought action. that Saunders one of the richin Nebraska, cannot above the financial flurry emerge and safer than should take council with other and refrain from doing that might further injure the the county. This one the life when silence golden.


Article from Wahoo Newspapers, April 17, 1930

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TO THE PEOPLE OF AND SAUNDERS COUNTY Owing to continued low prices force the payment of farm affiliated banks suffered depletion their reserves. caused the Banking Board take the Nebraska Savings Bank, bank occupies same building, the operation the Saunders County National Bank became untenable by voluntary act the Board Directors, the Federal Reserve Bank, Saunders County National bank suspended business. Closing banks community always creates unrest easiness, informed upon good authority that the actual condition appearances would already looking the organization banks and our good hopeful. reliably that slight, and the slight, there will be among vast number be felt by any Hearty co-operation on the the people will aid materially speedy re-organization. Where all possible, the people to strain point their hey can. Kindly lend hand. Signed, Wahoo Chamber of Commerce. ASSAULT AND BATTERY Edward Hancock Rand Snook with assault and battery complaint filed Tuesday George The alleges that the occurred highway tween Cedar Bluffs and Fremont April


Article from Wahoo Newspapers, January 15, 1931

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District Court NEW FILINGS Forclosure of Mortgage H. A. Bryant as attorney for Joe L. Vybiral, Frantiska Vybiral, Clarence G. Bliss, Receiver of the Nebr. State Bank of Wahoo, has filed petition in district court against Joe J., Anna, John F. and Anna S. Maly, wherein he seeks to foreclose mortgage on the south half of the northeast quarter and the northeast quarter of the southwest quarter, section 4, township 14, for the sum of $4,200.00 Joseph Jansa, farmer living near Valparaiso, in an action naming the Nebraska State Bank, Valparaiso, Joseph B. Tomes, Clarence A. Bliss, secretary of the department of trade and commerce, and Kenneth A. Tooley as defendants seeks to have a certain chattle mortgage in the sum of $3,340, removed from record and cancelled. Jansa claims in his petition that on or about the 21st day of March, 1929, that he executed a chattel mortgage on certain personal property in the above amount and that on the 5th of April, 1929, he and his wife executed and delivered a mortgage on the southeast quarter of the east half of the southwest quarter of section ten, township 13, to the defendants, as substitute for the prior chattel mortgage. He claims that the chattel mortgage should have been removed from record at that time but it was never done. H. C. Lowe is the plaintiff's attorney.


Article from Valparaiso Visitor, July 30, 1931

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Items of Interest from the County Marriage Licenses J. H. Bromm Yutan Della Mae Kingery Wann County Court Jessie B. Bliss, has Ried a Petition for letters of Adminisration, ask ing that Conner V., Bliss be appoint ed Administrator of the estate of Cassius W. Bliss who died at Ashland, June 28, 1931, leaving personal property valued at $8,000.00 and Real state fro mwhich the annual rents and profits do not exceed $500 00. The only heirs are, Jessie B. Bliss, Widow and Conner V. Bliss, son. Hearing is set for Thursday, August 6, at 2 o'clock P. M. J. C. Bryant, Atty. District Court Petition has been filed by the Win slow State Bank of Winslow, Nebr, against Lena Jordan et al. asking partition of the NNW1 and the SE1 NW1. Sec 11-13-8, east of the 6th P: M. Robins and Yost, Attys First National Bank, Wahoo has filed a petition against Emma Cook et a], asking foreclosure of the SW1, Sec. 22 and the NW1. Sec 27, all in Township 14-7, East of the 6th P.M. containing about 320 acres. Hendricks and Kokjer, Attys. Petition has been filed wherein Wahoo Mutual Loan and Bldg. Ass'n is Plaintiff and Oliver Hanson ea a] are defendants, askig Foreclosure of Lots 1, 2, 3. 10, 11 ad 12, Block County. Hendricks an Kokjer, Attys I the matter of the estate of Mary Phelps Sexton, Petition has been filed for License 0 sell Lots 10. 11 and 12 in Block 134, County Addition to Wahoo. Hendricks and Kokier, Attys Hila Ericksen has filed a Petition against Albert Sundean, asking foreclosure of the NWSW11 Sec. 23-156. East of the 6th P. M. E. S. Schief lebein, Atty. Another Petition has been filed for foreclosure wherein Clarence G. Bliss, Receiver of the Nebraska State Savings Bank is Plaintiff and J. J. Johnson, et al are the Defendants, asking foreclosure of Lots 7, 8 and 9 in Block 125, County Addition to the City of Wahoo. Joe F. Berggen, Atty. Petition has been filed by B. E. Hendricks Vs Luella Hays Pflieger et al: asking foreclosure of the west 75 Acres of the No. 150 Acres of the NW1. Sec. 15-15-8, except one acre in the northeast corner deeded to the first Presbyterian Church of Marietta. Hendricks and Kokjer, Attys. George G. Cronkleton. Receiver of the Saunders County National Bank. Wahoo has filed three Petitions on Notes. In one, he asks judgement on Anton A. Walla for $950.00 and interest at 7% from Jan. 15 1930 to July 15, 1930 and 10% thereafter and costs. In a second, judgement against Vick Stuchlik for $150.00 with iterest at 8% from Ferruary 18, 1930 to March 1930 and 10% there after and costs. In the third, judgement against Frank Marsalek for $3000 with interest at 8% from May 14, 1930 and 10% thereafter and costs of suit. Clinton Brome is Atty. for the Receiver. G. A. Pestal, Trustee of the Depositors Committee of the Bank of Cedar Bluffs has filed a Petition against Francis V. Lichtenberg et al. asking foreclosure of the NW1SW1 and the ELSE|SW|. Sec 21-17-7, and the EW1. Sec 28-17-7, containing 220 acres. Courtright, Sidner, Lee and Gunderson, Attys for Plain tiff. Petition has been filed by Edw. G. Burkland et al against Maude L. Gilmore, et al asking Foreclosure on Mechanics Lien of a tract of land in Dean's Addition to Ashland. E. L. Mahlin, Atty. In the matter of the Application of Ernest Monteen as Executor of the Estate of Gust Monteen, Petieion has bee filed for License to sell the North 124 feet and the west 44 feet of Lot 3 in Block 7, Remington's Addition to the City of Wahoo, Lots 1-10 inclusive in Block one; Lots 1-9 incl. in Block 2, Lots 1-9 icl. in Block 3, all of Block 4 and 5; Lots 1-7 incl. of Block 6; Lots 1-10 incl in 9; Lots 18-19 and 20 in Block; all of Block 10, all situate in Dickensen's Addition to the City of Wahoo. Clyde R. Worrall, Atty.