State Bank - Ellis, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 6, 1929
Location: Ellis, South Dakota (43.562, -96.831)

Metadata

Model: gpt-5-mini
Short Digest: 65dc9e59

Response Measures

None

Description

Newspaper items (April 6–8, 1929) report the State Bank of Ellis paying a final dividend to creditors/depositors following a prior suspension. No run is mentioned; the payment of a final dividend indicates the bank remained closed and was wound up under the state banking department (receivership). Cause of suspension is not specified in the articles.

Events (2)

1. April 6, 1929 Receivership

Newspaper Excerpt: Creditors of the State bank of Ellis, Ellis, are being paid a final dividend of 15.57 per cent, it was announced by the state banking department.
Source: newspapers

2. * Suspension

Cause Details: Article references a prior suspension but does not state the cause (no mention of runs or specific bank scandal).
Newspaper Excerpt: This dividend makes a total of 65.57 per cent in dividends received by depositors of the bank since suspension.
Source: newspapers

Newspaper Articles (2)

1. April 6, 1929 The Daily Plainsman Huron, SD

Article from The Daily Plainsman, April 6, 1929

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Article Text

ELLIS BANK PAYS PIERRE, April 6.-(P)-Creditors of the State bank of Ellis, Ellis, are being paid a final dividend of 15.57 per cent, it was announced by the state banking department. This dividend makes a total of 65.57 per cent in dividends received. by depositors of the bank since suspension.

2. April 8, 1929 Rapid City Journal Rapid City, SD

Article from Rapid City Journal, April 8, 1929

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Article Text

moving chases motor trucks in to hasten delivery and rooms scraped nearly bare The total of new refined copper withdrawn on domestic account during 1928 estimated by the United States bureau of mines crease of 12 per cent over the 1927 withdrawals of 000 pounds and the greatest history with the one exception.of war year decrease of nearly 000 pounds in refined and blister stocks at the beginning of 1929 bespeaks the failure of production to overcome the handicap of three months required to transform into the refined products, though smelter production creased 10 per cent, production new refined copper gained per cent and the output of secondary copper in 1928 was per cent above that of FIFTEEN PER CENT Pierre, April of the State Bank of Ellis, Ellis, being paid final dividend per cent, was announced by the state banking department This dividend makes total cent in dividends ed by depositors of the bank since suspension Moscow Commissariat Trade announced that 88 per cent of the 10,000,000 tons Soviet exports in 1928 ried in foreign vessels The ernment considering organization of special soviet chartering company