20238. Altamont State Bank (Altamont, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 28, 1929
Location
Altamont, South Dakota (44.840, -96.690)

Metadata

Model
gpt-5-mini
Short Digest
53246598

Response Measures

None

Description

The Altamont State Bank suspended/closed in March 1929 (article 3 gives March 28, 1929). Later dividends were paid to depositors/creditors (articles from 1929 and 1934). No article describes a depositor run prior to suspension, so classified as a suspension leading to permanent closure. Cause of suspension is not stated in the articles.

Events (3)

1. March 28, 1929 Suspension
Cause Details
Article(s) do not state a cause for the suspension/closure; simply report the bank suspended/closed in March 1929 and later dividend payments.
Newspaper Excerpt
This makes total of 42.3 per cent or $40,813.5 paid since the bank closed March 28, 1929
Source
newspapers
2. October 30, 1929 Other
Newspaper Excerpt
Altamont announced checks are being signed for a 20 per cent dividend which is to be paid to depositors of the Altamont State bank, which suspended in March last. The dividend will total about $20,000. and distribution of this sum will materially improve local financial conditions.
Source
newspapers
3. March 13, 1934 Other
Newspaper Excerpt
Creditors of the Altamont State bank of Altamont, Deuel county, will get a final dividend of 2.3 per cent amount to $2,152.79 This makes total of 42.3 per cent or $40,813.5 paid since the bank closed March 28, 1929
Source
newspapers

Newspaper Articles (3)

Article from Argus-Leader, October 30, 1929

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Article Text

DIVIDEND IS PAID Altamont announced checks are being signed for a 20 per cent dividend which is to be paid to depositors of the Altamont State bank, which suspended in March last. The dividend will total about $20,000. and distribution of this sum will materially improve local financial conditions.


Article from The Sioux City Journal, October 31, 1929

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Article Text

SITE OF HURON'S FIRST SCHOOL TO BE MARKED Huron, S. D.-Special: Dedication of a bronze marker designating the spot where Huron's first schoolhouse was erected. in pioneer days, will be an event here Saturday. The marker will be placed on the site by the Joseph Ormsby society, Children of the American Revolution. Construction of the first school in Huron was started in November, 1880, 49 years ago next month. nad started in the building in February, 1881. The first school was little wooden structure and attended by about 50 children. Among those who will take part In the dedication of the marker will be men and women who attended the old schoolhouse. Of this group five yet are residents of Huron: Ed B. Dinneen. Mrs. Gertrude Rolph. Mrs. James Byrnes, Miss Mildred Thompson and Lee McWhorter. TRUCKLOAD OF HOGS IS SPILLED BESIDE HIGHWAY Lake Andes-Special: E. W. Rogers, truck driver of Armour, lost control of a big truck while coming down a steep hill, east of Rosebud bridge, and spilled 11,000 pounds of shoats when the truck turned over. He jumped as soon as he saw the brakes were too weak to hold the great weight. The truck darted and careened about curves, finally landing against a bank and turning over. Only one pig was killed, but it was difficult the next day to round up pigs and get them back into the double decker truck. New School Is Dedicated Springfield, S. D.-Special: The Mennonite school district, 12 miles west of Springfield, dedicated a new brick school with program by the school children and an address by Prof. Howard Ashton, Southern State Normal school. Closed Bank Will Pay Altamont, S. D.-Special: Checks are being signed for 20 per cent dividend to be paid depositors of the Altamont State bank, which suspended last March. The dividend will total about $20,000.


Article from Rapid City Journal, March 13, 1934

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Article Text

THREE BANKS PAY MORE DIVIDENDS Pierre, March 13 totaling nearly $13,500 are being paid to creditors or three closed state banks, the South Dakota banking department reported day Creditors of the Altamont State bank of Altamont, Deuel county, will get a final dividedd of 2.3 per cent amount to $2,152.79 This makes total of 42.3 per cent or $40,813.5 paid since the bank closed March 28, 1929 Another final dividend. amounting to 1.6 per cent or $1,240.75, paid depositors of the Bennett County bank of Martin, which closed Jan. 5, 1924 This will make total of 31.6 per cent or $24,411.21 paid since suspension A fourth dividend of per cent, amounting to $10,099.60 goes to ditors of the Farmers State bank of Pukwana. This makes 50 per cent, or paid since the bank