13711. Walton State Bank (Walton, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 14, 1930
Location
Walton, Nebraska (40.799, -96.562)

Metadata

Model
gpt-5-mini
Short Digest
8ded8eb9

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Oct 14–15, 1930) state the directors decided to liquidate the Walton State Bank, will pay depositors in full, stop receiving deposits and stop paying checks. This is a voluntary orderly liquidation/closure; no run is described in the articles.

Events (1)
1. October 14, 1930 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors executed agreement to liquidate due to insufficient volume of business; orderly liquidation by directors with depositors to be paid in full; bank ceases receiving deposits and paying checks.
Newspaper Excerpt
the directors of the Walton State bank of Walton have decided to liquidate the bank...the bank will no longer receive deposits or pay checks. The depositors will receive payments on their deposits direct.
Source
newspapers

Newspaper Articles (6)
1. October 14, 1930 The Columbus Telegram Columbus, NE
Article from The Columbus Telegram, October 14, 1930

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Article Text

BATTLE SUSPENDS Lincoln. Oct. With posits half million dollars. the Battle Creek Valley bank. of Battle Creek, Neb. suspended operations today for more complete and thorough re-organization. George W. Woods, state bank At the same time. he announced that Walton State bank of Walton, with deposits of $47,000. was liquidated by order of its depositors. The depositors will be paid in full and order to effect an orderly liquidation. the bank will no longer receive deposits or checks. pay The Battle Creek bank suspendbusiness for few days several months ago and re-opened with new board directors and some additional Woods said. After operating few months the present management has discoverthat the condition of the bank as left by the former officers less than at first anticipated and the present suspension

2. October 14, 1930 The Lincoln Star Lincoln, NE
Article from The Lincoln Star, October 14, 1930

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Article Text

PAY OUT IN FULL (Continued from Page the Walton State bank. decided liquidate bank directors have executed an ment deposits in and order effect orderly liquidation. the no longer receive pay receive ments on their the the and the deupon Copple president Knight, president, and Thelma Schultz assistWalton State ant cashier the bank. Messrs. Copple and Knight, and Kiplin, compose board of Battle Bank Closed. Another which may temporary at Battle The folTuesday lowing given Bank Commissioner Woods by garding 'Upon action of the new board of Battle Creek Valley directors, the suspends bank, today more complete erations and thorough months bank "Some suspended for few opened with directors After few that the condition has the bank left former than anticipated the present been decided suspension enlist the depositors slow and doubteliminating which assets, been handicap to the present have management.'

3. October 14, 1930 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, October 14, 1930

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Article Text

STATE BANK LIQUIDATES Walton State Pays All Depositors-Battle Creek Valley Closes. On account of insufficient volume of business, the directors of the Walton State bank of Walton have decided to liquidate the bank, announced State Bank Commissioner George W. Woods, Tuesday. The directors have executed an agreement guaranteeing the payment of deposits in full, and in order to perfect an orderly liquidation the bank will no longer receive deposits or pay checks. The depositors will receive payments on their deposits direct. in accordance with the terms agreed upon by the directors and the depositors. Upon action of the new board of directors the Battle Creek Valley bank of Battle Creek, suspended operations Tuesday for a more complete and thoro reorganization, said Woods. Some months ago the bank suspended for few days and reopened for business with new board of directors and some additional stockholders. After operating a few months, the present management has that the condition of the bank as left by the former officers, is less satisfactory than was at first anticipated and the present suspension has been decided upon to enlist the help of the depositors in eliminating all slow and doubtful assets, the presence of which have been a handicap to the present management.

4. October 14, 1930 York News-Times York, NE
Article from York News-Times, October 14, 1930

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Article Text

BATTLE REORGANIZATION Complete and Thorough Re-Organization of Bank to Undertaken Once. LINCOLN, Neb., Oct. With deposits of approximately half million dollars, the Battle Creek Valley bank, of Battle Creek Neb., suspended operations today for complete and thorough re-organization, George Woods, state bank commissioner, announced. At the same time, he announced that the Walton State bank, of Walton, with deposits of was liquidated by order of Its directors. The depositors will be paid in full and in order to effect an orderly quidation, the bank will no longer receive deposits or pay checks. The Battle Creek bank suspended business for few days several months ago and re-opened new board of directors and some ditional Woods said. After operating few months the present management has discovered the condition of the bank left the former officers is less satis factory than at first anticipated and the present suspension has been de cided upon to enlist the help of the depositors eliminating all slow and doubtful assets which are handicap to the present management, Woods declared.

5. October 15, 1930 Kearney Hub Kearney, NE
Article from Kearney Hub, October 15, 1930

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Article Text

CLOSE BANK AT VALLEY CREEK Woods Also Announces Walton Bank Liquidation. Lincoln, Neb., Oct. deposits half million dollars, the Battle Creek Valley bank, Battle Creek, Neb., suspended operations Tuesday Yor more complete and thorough reorganization, George W. Woods, state bank commissioner, announced. At the same time, he announced that the Walton State bank, of Walton, with deposits of was liquidated by order of Its depositors. The depositors will be paid in full and in order effect an orderly liquidation, the bank will no longer receive deposits pay checks. The Battle Creek bank suspended business for few days months ago and reopened with new board of directors some additional stockholders, Woods said. After operating few months the present management has discovered that the condition of the bank left by the former officers less satisfactory than at first anticipated and the suspension has been decided upon to enlist the help of the depositors in eliminating all slow and doubtful assets which to the present management, Woods clared.

6. October 15, 1930 Nebraska Daily News-Press Nebraska City, NE
Article from Nebraska Daily News-Press, October 15, 1930

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Article Text

Banks End Operations Battle Creek House is Closed for Thorough Reorganization deposits of approximately half million dollars the Battle Creek Valley bank of Battle Creek, Neb., suspended operations Tuesday for more complete and thorough reorganization, George W. Woods, state bank commissioner announced. At the same time he announced that the Walton State bank of Walton, with deposits of was liquidated by order of its directors. The depositors will be paid in full and order to effect an orderly liquidation the bank will no longer receive deposits or pay checks. The Battle Creek bank suspended business for few days several months ago and reopened with new board of directors and some ditional stockholders, Woods said. After operating few months the present management discovered the condition of the bank was less satisfactory than at first anticipated and the present suspension was decided upon to enlist the help of positors in eliminating all slow and doubtful assets, which are handicap to the present management, Woods declared.