Colton Savings Bank - Colton, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: November 1, 1929*
Location: Colton, South Dakota (43.786, -96.928)

Metadata

Model: gpt-5-mini
Short Digest: 229b7ed7

Response Measures

None

Description

Article (Argus-Leader 1929-12-19) reports that a certificate appointing H. S. Straup as examiner in charge of the Colton Savings Bank was filed in circuit court by the state superintendent of banks in November. No mention of a depositor run or later reopening; only government appointment of an examiner is reported. Because a formal examiner was appointed (government action) and no reopening is reported, I classify this as a suspension that likely led to closure/administration. Date for the filing gives month November 1929 but day not specified in the text.

Events (1)

1. November 1, 1929* Suspension

Cause: Government Action
Cause Details: State superintendent of banks filed certificate appointing an examiner (H. S. Straup) in charge of the Colton Savings Bank, filed in circuit court in November 1929.
Newspaper Excerpt: Certificate of the appointment of H. S. Straup of Dell Rapids as examiner in charge of the Colton Savings bank which on November has been filed in circuit court, the being made by Fred R. Smith, superintendent of banks.
Source: newspapers

Newspaper Articles (1)

1. December 19, 1929 Argus-Leader Sioux Falls, SD

Article from Argus-Leader, December 19, 1929

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Article Text

Around the Courthouse In Circuit Court Action demanding judgment in the sum of $1,665.36 has been filed in circuit court by the state of South Dakota through M. Q. Sharpe, attorney general, against the city of Sioux Falls, wherein the state alleges that the city received and distributed 317,444 gallons of motor fuel on which the regulation four cent gas tax has not been paid. The complain states that claim for the amount due was presented to the city on November and that the claim was rejected. Frank Mitchell, attorney general, is attorney for the state. Certificate of the appointment of H. S. Straup of Dell Rapids as examiner in charge of the Colton Savings bank which on November has been filed in circuit court, the being made by Fred R. Smith, superintendent of banks. Return on sale of real estate and petition for conformation has been filed in the mater of the liquidation of the Sioux Falls Trust & Savings bank. The property in question described as being lot eight of Walkins & McDonald's plat of the west one-half of the northwest quarter of section 33, township 101, range 49, Minnehaha county. and the bid of Dina Bunger and Katherine Bunger of Sioux Falls in the sum of $625 for the property has been received, according to officials in charge of the bank liquidation matters. An order has been filed authorfzing the fees to George J. Danforth for provided in connection with the fiquidation of the Sioux Falls Trust & Savings bank, the order being signed by Judge Medin. decree of divorce has been granted by Judge Medin Anna Smith, Sioux Falls, in her action