17618. Estelline State Bank (Estelline, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1926*
Location
Estelline, South Dakota (44.575, -96.902)

Metadata

Model
gpt-5-mini
Short Digest
77536f5a6c725e3c

Response Measures

None

Description

Newspaper accounts state the Estelline State Bank suspended business in 1926 and later references to insolvency and its closing in suits. No article describes a depositor run or reopening; therefore classified as a suspension that resulted in closure. One article has OCR error giving 1936; contemporaneous papers state 1926. No receiver explicitly named in these clippings.

Events (1)
1. January 1, 1926* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Articles state the bank was insolvent prior to its closing; suit alleges deposits were taken while bank was insolvent.
Newspaper Excerpt
Estelline State bank suspended business in 1926
Source
newspapers

Newspaper Articles (3)
1. March 28, 1929 Argus-Leader Sioux Falls, SD
Article from Argus-Leader, March 28, 1929

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Article Text

CITY TREASURER FREED OF CHARGE Estelline Official Charged With Depositing Money When Bank Was Insolvent Watertown, March 28.-(AP)-A. B. Calef, Estelline, formerly city treasurer there, was relieved of responsibility for loss of $13,264 48 representing funds of Estelline when the Estelline State bank suspended business in 1926 as the result of a verdict returned by jury in circuit court at Hayti. Trial lasted seven days. Estelline brought suit to recover, charging money was deposited when the Estelline State bank was "insolvent and had been for some time prior to its closing.' also charged the defendant had of alleged insolvency at the time of taking deposits. The defense introduced testimony that the bank was solvent when deposits were made and if the bank was not solvent at the time of deposits, Calef did not know of such solvency and he acted in good faith.

2. March 28, 1929 The Daily Plainsman Huron, SD
Article from The Daily Plainsman, March 28, 1929

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Article Text

Treasurer Is Relieved As Bank Quits, Verdict WATERTOWN, Mar. B. Calef, former city treasurer of Estelline was relieved of responsibility for a loss of $13,264 48. representing city funds when the Estelline State bank suspended business in 1926 by a verdiet returned in circuit court at Hayti. The trial lasted seven days. Estelline brought suit to recover the money, charging it was deposited when the bank was "Insolvent and had been for some time prior to its closing.' It also charged that Caler had knowledge of the alleged Insolvency at the time of taking the deposits. The defense Introduced testimony that the bank was solvent when the deposits were made and contended that if the bank was not solvent at that time Calef did not know of such insolvency and acted in good faith.

3. March 28, 1929 Rapid City Journal Rapid City, SD
Article from Rapid City Journal, March 28, 1929

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Article Text

Estelline Treasurer Freed of Responsibility B. Calef. former city treasurer of Estelline was relieved of responsibility for loss of $13.264 48, representing city funds when the Estelline State bank suspended business in 1936 by verdict returned in circuit court at Hayti, The trial lasted seven days. Estelline brought suit to recover the money, charging it was deposited when the bank was "insolvent and had been for some time prior to its closing It also charged that Calef had knowledge of the alleged insolvency at the time of taking the deposits. The defense introduced testimony that the bank was solvent when the deposits were made and contended that if the bank was not solvent at that time Calef did not know of such insolvency and acted in good faith Mt. Vernon First National bank completely reorganized with Considering the fact that he was deposed as head of the Salvation Army because he was "physis cally unfit," General Bramwell Booth certainly did put up a pretty fit battle for his job Washington friends of Mrs. Coolidge gave her brooch in appreciation of her graciousness as First Lady. Bet the folks back in Northampton can hardly wait until they that.