20298. First National Bank (Davis, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11457
Charter Number
11457
Start Date
July 1, 1921*
Location
Davis, South Dakota (43.257, -96.996)

Metadata

Model
gpt-5-mini
Short Digest
242a897a

Response Measures

None

Description

Articles report the First National Bank of Davis recently closed its doors and was taken in charge by a federal bank examiner (July 1921), was later reopened (Aug 12, 1921), and by October 1921 the bank had been placed in the hands of a receiver (reported as placed in receivership late that past summer). No explicit bank run is described in the articles. Subsequent reporting (Oct) shows embezzlement by the cashier, supporting bank-specific adverse problems leading to receivership.

Events (5)

1. September 19, 1919 Chartered
Source
historical_nic
2. July 1, 1921* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed and taken in charge by federal bank examiner; later reporting links cashier embezzlement indictments to the bank's failure/insolvency.
Newspaper Excerpt
It is believed that the First National of Davis, which recently closed its doors and was taken in charge by the federal bank examiner, will be opened in the near future.
Source
newspapers
3. August 12, 1921 Reopening
Newspaper Excerpt
The First National bank, of Davis, which recently closed its doors has been opened for business. The First National Bank of Davis, which recently closed its doors has been opened for business.
Source
newspapers
4. September 1, 1921* Receivership
Newspaper Excerpt
W. W. Wulf, cashier of the First National bank of Davis which was placed in the hands of a receiver late this past summer, was indicted for embezzling $3,000 ... pleaded guilty. George Slottenow ... pleaded guilty ... (article dated 1921-10-20)
Source
newspapers
5. January 12, 1932 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (4)

Article from The Mellette County Pioneer, July 8, 1921

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damage during the week 111 a moistof the state because of lack of ure and extremely high temperatures. the Corn: Corn is being "laid by" in days very southern counties. fully 10 earlier than usual. Acreage probably This increased from one year ago. Winter crop is in excellent condition. in the wheat: Our minor acreage is the filling stage. Heat is damaging been Spring wheat: Growth continued has rapid crop. but excessive heat and much lack of precipitation have done damage, especially in the northern of central portion of the state. Much the crop is ruined. Much of the crop be is headed. Oats: Forced heading in cause of heat. Extremely short growth. Barley: Same as oats. Rapidly maturing but very short in growth. been Hay: First crop of alfalfa has cut. Yield heavy. Growth of all grass and hay is being retarded by drouth The water, light and power com- Hot which owns a plant in Springs, pany recently obtained a tempo- rerary order from the federal court straining the city authorities from tak in ing action to prevent the company creasing the rates charged patrons The company claims that if it cannot increase its rates it will be compelled this to do business at a loss, and that would virtually amount to a confisca the tion of the company's property by city Damage estimated at several thou sand dollars was done to crops when hail storm swept through sections of a Lincoln county, laying the grain flat in a swath of from two to three miles in width and twenty to thirty miles in length. According to farmers in the territory visited by the storm. the small grain crops are a total loss. fields appearing as if they had been cut with a binder. Corn was not se riously damaged. A metal spectacle case is credited of with having saved Paul Lier. Mitchell, from serious injury when backed his auto got beyond control and the down a hill. Lier jumped from it. moving machine and tried to stop barbed when he was pushed against a forewire fence. The barbs tore his his arm and ripped the clothes across in breast, but were prevented from flicting wounds by the metal case. Of the many unusual things which have occurred in the past on Harney Black peak, the highest point in the a Hills, the most recent stunt was of band concert given by Boy Scouts and Lemmon. Guests at Sylvan lake Custer listened in over the telephone to the music. The retail merchants' association the of Mitchell turned down a petition of their ministerial association to close doors a half day in each week during give the remainder of the summer to This employes a day and a half rest. this plan is said to be impractical at a time. In accordance with the result of recent special election, when bonds erection of $165,000 were voted for the Cannew high school building in of a it is expected that arrangement= for the ton, be made at an early date starting will of the work of construction. Mrs. Dan West, age 82 years. to said ar been the first woman reto have in Alexandria by train. died came rive in Mitchell. Mrs. West first cently Alexandria in 1880 on the road. to train run over the Milwaukee Charles E. Bartelt, Sioux Falls auto- atwho was injured in the which torney, accident near Platte in mobile R. Winans, assistant attorney killed. Edwin general of South Dakota, was died at a hospital at Geddes. believed that the First National closed It is of Davis, which recently by bank and was taken in charge reits federal doors bank examiner, will be opened a in the near future. Quite a number of Lead young to men the applied for admission and have camp at Fort Snelling, the among training them are several boys from high school. Trout poachers are causing along some considerable trouble with wardens creek by catching trout ex. Spearfish snares or killing them with plosives. have been completed for a com- big 3 celebration Plans in Custer on July 27, of menorating the 47th anniversary Black the discovery of gold in the Hills. decision was reached by the recent city e commisioners A of Lemmon at the a tour9 meeting to greatly improve city. ists' camping grounds in the city commissioners of rates Sioux in The have ordered that gas schedules. the Falls city be reduced to pre-war


Article from The Herald-Advance, July 15, 1921

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of United States department following agriculture, mates, has made the Washingto the department at 25: the week ending June have eral: ton report for Crops suffered large material areas Gen during the week in of moist damage the state because of lack temperatures. of and extremely high in the ure Corn: Corn is being "laid by" 10 days southern counties, fully probably very than usual. Acreage This increased earlier from one year ago. Winter is in excellent condition. is in the crop Our minor acreage the wheat: stage. Heat is damaging has been filling Spring wheat: Growth continued crop. but excessive heat and done much rapid of precipitation have northern lack damage, especially in the Much of central portion of the state. of the crop is ruined. Much heading be the crop Oats: Forced short in is headed. of heat. Extremely Rapidgrowth. cause Barley Same short as oats. in growth. ly maturing First crop but very of alfalfa of has all grass been Hay: Yield heavy. Growth drouth. and cut. hay is being retarded by water, light and power in com. Hot The which owns a plant tempo pany recently obtained a court reSprings, order from the federal from takstraining rary the city authorities in action to prevent the company patrons. ing the rates charged cannot creasing company claims that if compelled it The its rates it will be this increase do business at a loss, and that confiscato virtually amount to a by the would tion of the company's property city Damage estimated at several when thoudollars was done to crops sections sand storm swept through grain a hail Lincoln county, laying the to three of swath of from two thirty flat in in a width and twenty to farmers miles in length. According to storm, miles the territory visited by the loss, the in small grain crops are a total had been appearing as if they not secut fields with a binder. Corn was riously damaged. metal spectacle case is credited Lier, of A having saved Paul when his with Mitchell, from serious injury backed beyond control and from the auto got hill. Lier jumped stop it down a machine and tried to barbed moving he was pushed against a his fore when fence. The barbs tore his wire and ripped the clothes across from in arm but were prevented case. flicting breast, wounds by the metal the many unusual things Harney which Of occurred in the past on Black have the highest point in stunt the was a peak, the most recent Scouts of Hills, concert given by Boy lake and band Guests at Sylvan telephone Custer Lemmon. listened in over the to the music. of retail merchants' association of the The turned down a petition their ministerial Mitchell association to close during half day in each week to give doors remainder a of the summer This the a day and a half rest. at this employes plan is said to be impractical time. accordance with the result bonds of of a In special election. when erection recent were voted for the in Can$165,000 new high school building of a it is expected that arrazgemen** for le ton, be made at an early date starting will of the work of construction. Dan West, age 82 years, to said ar Mrs. been the first woman died reto have in Alexandria by train, came rive in Mitchell. Mrs. West the first cently Alexandria in 1880 on road. train to run over the Milwaukee Charles E. Bartelt, Sioux Falls auto- atwho was injured in the in which torney, accident near Platte attorney mobile R. Winans, assistant killed, Edwin of South Dakota, was general died at a hospital at Geddes. believed that the First National closed It is of Davis, which recently by bank doors and was taken in charge be reits federal bank examiner, will opened a in the near future. a number of Lead young to men the Quite applied for admission and have camp at Fort Snelling, the among training them are several boys from high school. Trout poachers are causing along some considerable trouble with wardens creek by catching trout ex. Spearfish snares or killing them with plosives. Plans have been completed for a com- big in Custer on July 27, of celebration the 47th anniversary Black menorating the discovery of gold in the Hills. decision was reached by the recent city commisioners A of Lemmon at a


Article from The Herald-Advance, August 12, 1921

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NEWS OF THE STATE A RESUME OF IMPORTANT HAP. PENINGS OF THE WEEK. An action that may result in a test the constitutionality of the state of insurance law occurred recently in the court of when a demurrer, Richey, hail at Yankton entered unconstitu- Justice on Z. that the law is was sustained. It is an a farmer seeks to in tional, the which ground collect action the to premiun on hail insurance alleged Dick be due from the defendant, Haney, a tenant of the plaintiff. A new top was put on the repre- Belle Fourche wool market when a sentative of Koshland Co., of Boston, James paid 18 1/4 cents for the clip of Osgood, of the Powder river country. of Approximately 1,250,000 pounds wool has arrived in Belle Fourche so and it is estimated another 250,000 two far pounds will arrive in the next weeks. Gold nuggets from a dentist's office Canton proved to be the drawing attraction in for thieves a few days ago, T. when the dental parlors of Dr. H. durAker were entered and robbed the night, and metals including dental ing gold, silver and other bottles of of the products were stolen. No trace thieves has been found. Reports coming to the state hail hail insurance department show the storm loss in Sully county during the of July 2nd are heavy. Individual payments for losses in that county run to from $3,016.00 as the highest down losers small figures. A number of the $2,draw over $1,000.00. Total loss is 000,000.00. Charles F. Shoemaker, of Tulare, Sheriff arresed a that place by was Gran on a charge of family desertion. reMrs. Shoemaker and children has or sided in Armour for some two the three years, the whereabouts of known husbands and father not being until rceently. Copies of the new sanitary law and the amended hotel and restaurant of inspection law are being distributed and from the office of the state food These drug commission at Vermilion. laws became effective July 1st. Applications for licenses are being received in large numbers. The activity of the inspectors of the in state food and drug department the enforcement of the state good egg law is resulting in payment of fines by violators in various parts of the under state. Eleven successful prosecutions this law have already been made. Watertown new $10,000.00 gymna- will sium' made possible through the left by the late Thos. Thorson is now assured as the men began the work of excavation for the new structure re- be cently. The new gymnasium will well under construction by fall. Two suspects, giving Chicago Pier- as their home, were arrested near pont for an automobile theft. After hearing at Webster bound over to the sum of $2,000 cash, in were preliminary the failing circuit to court they put up the bond are in jail. The last prominent frontiersman of the west to "cross the Divide" was Capt. A. M. Willard, aged 74, who died in the Deadwood hospital. He was deputy under Capt. Seth Bullock, the first sheriff of Lawrence county. drum and bugle corps and or of Troop No. 2, chestra The Brookings attend Boy the Scouts of America will the and girls' club camp Dakota State fair, boys' South and at will assist with the musical program. Dr. G. M. Morton, of New Effington, dropped head of heart failure just as he turned to leave the home of and a patient. He was 76 years of age is survived by four children. The 13-year-old son of J. A. Johnson, farmer living near Sioux City, died a from injuries sustained when he was crushed under a grain separator. in Mid-summer building activities Huron are reported as not being very brisk but it is expected in the fall that and a number of business houses dwellings will be erected. Rapid City has chosen A. W. Vinas city manager. Vincent is the cent second city manager to be appointed in South Dakota. Governor McMaster has appointed John G. Bartine, of Oacoma, as a second judge of the eleventh circuit. The Kingsbury County Bankers' association recently held a meeting at Lake Henry, the Arlington bankers being the hosts. Five hundred and eleven automo- in biles have disappeared into the air Davidson county since January 1st. The First ational bank, of Davis, which recently closed its doors has been opened for business. The First National Bank of Davis, which recently closed its doors has been opened for business.


Article from The Madison Daily Leader, October 20, 1921

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Bank Cashier Pleads Guilty Sioux Falls, Oct. 20.-Seven indictments, in four of which the individuals pleaded guilty, were made public in the United States district court here, being the first report of the grand jury. W. W. Wulf, cashier of the First National bank of Davis which was placed in the hands of a receiver late this past summer, was indicted for embezzling $3,000, on three separate counts and pleaded guilty. George Slottenow of Brandt, plead ed guilty to an indictment charging