13746. Peoples State Bank (Wolbach, NE)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
August 1, 1929*
Location
Wolbach, Nebraska (41.397, -98.394)

Metadata

Model
gpt-5-mini
Short Digest
96dabb86

Response Measures

Full suspension, Books examined

Other: Depositors' committee collected funds and pursued reorganization; state department involved in meetings.

Description

August 1929: heavy withdrawals led the Peoples State Bank of Wolbach to be taken into the hands of the state banking department (suspension). A depositors' committee met Nov 1929 to plan reorganization, and the bank had reopened by January 1930. Cause of the initial run is not stated explicitly; governance issues (death of president) and resulting instability are mentioned in the August report. Dates use month resolution when day not specified in articles.

Events (4)

1. August 1, 1929* Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals over preceding months; bank had been without a president since Bradley's death, leaving cashier in charge and weakening confidence.
Measures
No specific emergency measures described prior to state taking control; later depositors' committee formed to reorganize.
Newspaper Excerpt
went into the hands of the state banking department Monday after heavy withdrawals during the past months.
Source
newspapers
2. August 1, 1929* Suspension
Cause
Government Action
Cause Details
State banking department took the bank into its hands following heavy withdrawals; meeting of depositors to decide reopening or receivership was scheduled.
Newspaper Excerpt
Peoples State Bank of Wolbach went into the hands of the state banking department Monday
Source
newspapers
3. November 21, 1929 Other
Newspaper Excerpt
The depositors' committee of the Peoples State Bank are calling a meeting ... The committee will present a plan for reorganizing the bank. ... A representative of the state department of trade and commerce is expected to be present at the meeting. ... A considerable sum has been collected on the notes held by the bank, since early in August when the bank was closed. (Article date: 1929-11-21.) This is preparatory reorganization activity by depositors' committee prior to reopening or reorganization decisions.
Source
newspapers
4. January 1, 1930* Reopening
Newspaper Excerpt
The Peoples State Bank, of Wolbach, opened Saturday morning, giving that city a banking institution again.
Source
newspapers

Newspaper Articles (3)

Article from Nemaha County Republican, August 8, 1929

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Article Text

Bank Into State Hands LINCOLN, Aug. People's State Bank of Wolbach went into the hands of the state banking partment Monday after heavy withdrawals during the past months. The bank's last statement showed deposits of $295,000. but believed at present they will not reach $175,000. The bank has been without president since the death of Bradley in an accident Central at City about year ago. Johncashier, has been in charge the institution. The bank's paper to be good but measurably froz- meeting of depositors to upon reopening or receivership will be held at Wolbach Wednesday evening, the banking stated. was also announced Monday that due to probable litigations, depositors of the Farmers State and Newman Grove State bank, both of Newman Grove, which closed last week, had agreed upon receivership rather than attempt reorganization and reopening. decision to that effect unanimous upon the part of the positors. Mrs. Frank Grant and two daughters of Lincoln who spent last week visiting at the home of Dr. and Mrs. Tyler returned to their home in Lincoln Sunday. Mr. Grant drove to Auburn Sunday after them.


Article from The Wolbach Messenger, November 21, 1929

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Article Text

Meeting Called By The Bank Committee The depositors' committee of the Peoples State Bank are calling a meeting of the depositors at McIntyre's hall next Monday evening, at which this committee will make a report of their work and will get the opinion of the depositors as to what course to pursue in the future. It is announced that the committee will present a plan for reorganizing the bank. A representative of the state department of trade and commerce is expected to be present at the meeting. The committee, which is composed of G. S. Smith, Dr. A. H. Holm. M. H. Teilmann, Paul Paulsen and Chris Anderson, have put in a lot of hard work going over the affairs of the bank and getting things into shape to offer a definite plan for reorganization to the will of the depositors. The committee have given of their time freely to this matter. working many times until a late hours of the night. A considerable sum has been collected on the notes held by the bank, since early in August when the bank was closed. Every depositor should be out next Monday to hear what the committee has to report, so as to be more able to judge intelligently as to what action is best to be taken.


Article from The Friend Sentinel, January 23, 1930

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Article Text

NEBRASKA SHIPPED 105 CARS OF CHOICE APPLES Fred Weber Sr., of this city. is reported very ill at his home. Miss Mamie Krebs, spent last Thursday in Lincoln: Mrs. Wm. Yokel and Miss Maude McLennan were Lincoln visitors Monday Miss Mary Hulburt of Lead, S: D is here visiting her parents. Mr. and Mrs. A. F. Hulburt. MASK BALL at Central Hall. Milligan, Nebr. Saturday, January 25. 1930. $50.00 in cash prizes. Mr. and Mrs. Robert Blanchard Henry Berst ships live stock to the and daughter spent Wednesday in Corn Belt Com. Co., So. Omaha. Seward. Mr. and Mrs. Bill Wiess of Waco, Hurlburt's Millinery, Saturday Jan. spent Wednesday at the home of 26. League of Women Voters. Mr. and Mrs. Herbert Heckman. Mr. and Mrs. Herbert Heckman held their sale Wednesday They are planning to move to Lincoln about February 1st. Mr and Mrs. P.O. Southwick en tertained the school faculty to a dinner party at their home., Tuesday evening Mrs. W B. Rogers of Tekamah Miss Lucille Krebs, writes her par- Nebraska. is visiting at the home of ents, that she arrived in Santa Fe. her son. Paul Rogers family New Mexico, OK. and is nicely lo- a cated in her new work. Nestle Permanent Wave $5.00 (all Hurlburt's Millinery, Saturday Jan. the year round) and Eugene Perman26. League of Women Voters. ent Wave $8.00 (shampoo included): -Little Flower Beauty Shop. Crete, Eugene Stockdale, of Lincoln, spent Telephone 1255. Nebraska lays no claim to being a fruit state,- nature having endowed southeastern Nebraska with a soil that grows the finest flavored Friday and Saturday here with his apples in the world, that section is mother, Mrs. Frances Stockdale coming into notice as an apple region of great promise. High School Operetta tickets on According to the records in the sale Saturday, January 25, at Prooffice of the state and federal agrikup's Drug Store, beginning at noon. cultural statistician at Lincoln, a total of 105 carloads of apples were High School Operetta tickets on shipped from Nebraska points in sale Saturday. January 25, at Pro1929. The shipments of 1929 were kup's Drug Store, beginning at noon. about three times those of the preceding year. Richardson county Regular meeting of Rose Standish shipped fifty-five cars; Nemaha Chapter No. 265 O. E. S., Friday evecounty, forty cars; Otoe county, ten ning, January 24. Installation of cars. officers. No records are obtainable for the larger amount of apples that were Mr. and Mrs. J. A. Johnson have purchased at the orchards and rereturned home. after spending sevmoved by automobiles and trucks. eral weeks in Madison, Wisconsin From large section of Nebraska with relatives. and from Kansas, Missouri and Iowa, people drive into southeastern Ira Burton. of Maywood, who had Nebraska at apple picking time to been in Omaha, visited his parents, buy their home supplies of apples. Mr. and Mrs. O. Burton. and other Shubert holds the record for the relatives here this week. largest number of cars shipped, fifty-one. Brownville was second W. R. Zieg of Alliance, is here this with twenty-five cars; Nebraska week visiting his parents, Mr. and City ten cars; Howe, nine cars; Rulo Mrs. Jacog Zieg. He will enter the two cars: Falls City, one car; Salem state university next week one car. Two cars of harvest apples were shipped in July, four cars in Frank Redman and family moved August, forty cars in September into the residence property owned by fifty-one cars in October and eight W. S. Markland, Monday. better known as the Gavin Home. The Loess soil in the section boarding the Missouri in the exMrs. Bertha, Andrew of Hastings, treme southeast counties of the was here visiting her parents, Mr. state has no superior in the world and Mrs. E. V. Harding and sister. as fruit land. The the faMiss Inez Harding over Sunday. mous valley of the Nile in Egypt does not excel it. It is especially No buyer of advertising has to adapted to the growth of fruit of guess about The Sentinel's circulathose varieties that do well in the tion, as an auditor's report is on file climate of this section. Besides in the office and can be inspected. apples, pears and grapes are successfully grown in commercial quanThe Reno Cafe had installed a tities in this section. The apple new lavatory. in the recently rebusiness, though already carried on modeled wash room. This week Leo in quite an extensive manner, is Gavin redecorated the walls and destined to be much larger secceiling tional enterprise when the orchards now coming to maturity put their Nestle Permanent Wave $5.00 (all choice offerings on the market. INJURY JINX BROKEN the year round) and Eugene Permanent Wave $8,00 (shampoo included). -Little Flower Beauty Shop. Crete. Telephone 1255. About nine months ago while painting sign on the roof of barn The second of a series of four card on the Elva Aitken farm, east of parties sponsored by the Catholic Friend. Leo Gavin fell from the roof Ladies will be held at the K. of C. and suffered a compound fracture of Hall. Tuesday, January 28 at 8 the leg and hip. After O CROCK. Reservation for Bridge, some time in the University hospital Whist or Five Hundred may be made in Omaha, he returned to Friend with Mrs. Frantz Chairman. and for considerable time was con- fined here with his leg in cast. After removal of the cast and just when he was able to be about with the aid of a cane. having threw away his crutches, he unfortunately had his broken, while jacking up a car with a jack that had seen its best days The jack slipped and the handle came up hard. striking him on the arm. Although his arm is still somewhat swelled and pains him some, he broke the injury jinx this week and completed a small decorating job at the Reno Cafe. the first work he has been able to do since the fall from the barn. His leg still gives him some trouble and pains at times, especially during this cold weather. You will notice that the two lumber yard ads have a different arrangement this week. We are doing this because of the wideness of our new type made it almost impossible to set the columns so narrow and divisions of words were terrible. We believe you will like the two column effect better and if you have not been reading these ads you have missed something mighty good. Start now. The state convention of firemen have voted to amend their constitution and hold the annual meeting in October instead of December. This is good move as January is always so cold that it is hard for members to get to the convention city. and the convention is so big that the entertaining city finds it hard to house the delegates. The weather in October will be generally warm and when cities charter pullman cars they will be warm enough to sleep in eliminating the congestion in the hotels. Many people seem to think that the state convention of firemen rough affair. but the contrary is the truth. The big convention is orderly and important. Mr. and Mrs. O. R. Mead received word today. from their son, Ray Mead, Geno, Colo., stating that Mrs. Ray Mead is very ill. Mrs. Mead will go to Colorado tomorrow Dinner guests of Mr. and Mrs. Herbert Heckman, Sunday were Mr. and Mrs. J. H. Bender and family, Mr. and Mrs. Merle Heinzman and daughter, and Albert Heckman. At the Wednesday evening meeting of the Evangelistic Campaign, at the Congregational church. large crowd was present. Rev. Ernest Horner, of Pleasant Dale, came the farthest distance. 37 miles. Jacob Schwaubauer brought the oldest type of car, a 1916 model. Ed Combs brought the largest delegation of 11. Miss Stockton presented the winners with a beautiful picture of "Christ in Gethsemane. Miss Gould gave her message in song, and Miss Stockton preached fine sermon. Today brought a little relief from the extreme cold weather of the past three weeks. With the temperature below zero almost every day. the country roads blocked with snow, business has nearly come to standstill. This morning the temperature was six above and continuously rising Clear weather has prevailed here most of this week. while in the states south of us storms have caused suffering and blocked railroad traffic. A sudden thaw over the Mississippi valley will cause the rivers to flood. If this water could be impounded for summer use this part of the United States would be a garden spot. The state bank at Harrison has been reopened with the old officers in charge. Wild rumors started a run on this bank and it was closed by its officers to protect the assets. This shows just what will happen when gossip reflects on the credit of a bank. The Peoples State Bank, of Wolbach. opened Saturday morning. giving that city a banking institution again. Last night's papers carried an announcement that the American State Bank. of York, will reopen in a few days. All this is very "shows that although the legislature did not do all we expected regarding the banking situation they did pass some laws that are helping. Nestle Permanent Wave (all the year round) and Eugene Permanent Wave $8.00 (shampoo included) Little Flower Beauty Shop. Crete, Telephone 1255. Miss Edna Miner and Perry Miner of Medicine Hat, Sask. Canada, will arrive here today to visit at the homes of Mr. and Mrs. W S. Markland, Mr and Mrs. Wm. Eichenour Mrs. Anna Craig. and other relatives. The Miner children are grandchildren of Mrs. P. A. Yeast. of Lincoln The Corn Belt Commission Company, South Omaha. receives live stock from E. B. Barney