Exchange Bank - Waitsburg, WA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1924*
Location: Waitsburg, Washington (46.270, -118.153)

Metadata

Model: gpt-5-mini
Short Digest: 7891d30e3cd1db23

Response Measures

None

Description

Article states the Waitsburg Exchange Bank closed about three years before 1927 and a receiver (Lyman Burnam) mailed final payments to depositors in 1927, indicating the bank remained closed and in receivership. No run or reopening is mentioned; cause of closure not specified in article.

Events (2)

1. January 1, 1924* Suspension

Cause Details: Article gives no reason for the closure; only notes the bank closed roughly three years prior to 1927.
Newspaper Excerpt: The bank closed about three years ago with $165,000 on deposit
Source: newspapers

2. August 5, 1927 Receivership

Newspaper Excerpt: Checks for $24,000 or the final 15 per cent to depositors in the Waitsburg Exchange bank were mailed out recently by Lyman Burnam, receiver. The bank closed about three years ago with $165,000 on deposit and the payment gives depositors 100 cents on the dollar.
Source: newspapers

Newspaper Articles (1)

1. August 5, 1927 White Bluffs Spokesman White Bluffs, WA

Article from White Bluffs Spokesman, August 5, 1927

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Article Text

WASHINGTON NEWS ITEMS OF INTEREST Principal Events of the Week Assembled for Information of Our Readers. One of Seattle's first school teachers, Mrs. Caroline M. Sanderson, died at her home in Seattle week. She was nearly 91 years old. The new Tenino fruit and vegetable cannery, which will place a line of "T90" brand goods on the market, be gan operations last week. The Ellensburg-Canyon highway has been the scene of 10 accidental deaths this year and immediate improvements are contemplated with a view to making it safer. The ninth convention of the state American Legion was held in Spokane last week, the largest ever held. Airplanes dropped bombs, bugles sounded and 60 posts answered call. The Eagles' lodges of Grays Harbor county are planning to hold a joint picnic at Schafer state park in the Satsop river valley, Sunday, August 21, it was announced at Montestano. The United Fruit Growers' associa tion is the name adopted for the organization of Rochester and Grand Mound berry growers, which will be completed at a meeting at Rochester on August 9. The Johnson & Clark sawmill at Tenino was destroyed by fire last week, entailing a loss of $50,000. The flames also consumed about 4,500,000 feet of lumber and 40,000 feet of iath, stored in the yards. Railroad men report 122 carloads of wheat shipped from Walla Walla since July 1. Of this total about 60 carloads were of new wheat. Total shipments of new and old grain were around 195,000 bushels. Threshing returns from wheat fields in the Harrah district, Yakima reservation, have shown up to an average of 73 bushels an acre for a field of 45 acres. An 80-acre field gave an average of 56 bushels. Mrs. Dora S. Lewis, dean of women at the Cheney state normal school, has accepted a position as dean of women at the University of Hawaii for next year and has been granted a year's leave of absence. Well over 1000 singers, representing 29 German and Swiss singing societies of Pacific coast cities from the Canadian to the Mexican borders, were in Tacoma last week for the great Pacific Saengerfest. The fourth election held for that purpose last week resulted in passage of the $14,000 bond issue to finance a school building for the Orchards consolidated school district. The vote was: For, 205; against, 119. Miss Irene Cumberlin, 80, the first school superintendent of Kittitas county, died in Ellensburg last week. She also was one of the pioneer school teachers of the valley, coming to Ellensburg from Iowa in 1880. A contract was let last week at Olympia for the graveling of the North Bank highway from Washougal to Underwood. The contract calls for laying 29,500 square yards of gravel at $20,269.70. This will complete the highway through Clark and Skamania counties. Checks for $24,000 or the final 15 per cent to depositors in the Waits burg Exchange bank were mailed out recently by Lyman Burnam, receiver. The bank closed about three years ago with $165,000 on deposit and the payment gives depositors 100 cents on the dollar. For the first time in three years the women's department of the Grays Harbor county jail at Montesano is empty, according to Jailer Jack Dingman. The jail has held a considerable number of "women during the past three years, mostly for breaches of the liquor laws. The new Cougar Smith bridges over the Turnow branch of the Satsop river is now completed. This road eventually will be extended to unite the west and middle Satsop, or Deckerville, roads and will open up a considerable amount of good land for settlement. Governor Roland H. Hartley announced that he had appointed Joseph Edward Lease of Centralia as a member of the board of regents of the University of Washington. Lease succeeds Mrs. Ruth Karr McKee of Longview, resigned. His term will run until March, 1929. Northern central Washington is preparing to harvest one of the finest apple crops, with respect to quality, ever grown in the district. The of ficial estimate is 15,108 cars, but other estimates run as high as 16,000 cars. Ten highway contracts, totaling approximately $1,000,000, were awarded by the state highway committee last