Stockgrowers Bank - Fort Pierre, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 16, 1925
Location: Fort Pierre, South Dakota (44.354, -100.374)

Metadata

Model: gpt-5-mini
Short Digest: 44190831

Response Measures

None

Description

Article (Dec 16, 1925) refers to the 'closed Stock Growers Bank of Fort Pierre.' No run is mentioned; the bank is described as closed and having diminished security on loans, indicating insolvency and closure. No receiver explicitly named for this specific bank in the excerpt, but closure is clear. Bank type not indicated by name; classified as unknown.

Events (1)

1. December 16, 1925 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank described as 'closed' with notes where the security had diminished in value, implying insolvency/poor collateral leading to suspension/closure.
Newspaper Excerpt: the closed Stock Growers Bank of Fort Pierre, where the security had diminished in value.
Source: newspapers

Newspaper Articles (1)

1. December 16, 1925 Rapid City Journal Rapid City, SD

Article from Rapid City Journal, December 16, 1925

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Article Text

EWERT IS DECLARED BANKRUPT BY JUDGE Ordered to Report to Referee of Bankruvtey Sioux Falls, Dec. 16-A. W Ewert. former treasurer of the rural credits board and president of the closed National Bank of Commerce at Pierre, has been formally adjudged bankrupt by Judge James D. Elliott in federal court. The bankruptcy was the result of a pet ition filed March 21 by four creditors. in which It was alleged that Ewert had conveyed property to other creditors and thereby had defrauded them of their claims. Ewert was ordered to report today to Zell Guthrie of Pierre, referee in bankruptcy for the western division, to submit to such orders as may be made by the referee or by the court relating to the said involuntary bankruptcy The bankruptey petition was made by C. F. Fiman, as receiver in charge of the bank of Commerce: Fred R. Smith, as superintendent of banks Hughes county, which had funds in Ewert's bank and held his $10,000 bond as surety and Peter F. Griffen, who charged personal debts of $75. The petitioners asserted that Ewert conveyed two lots in Pierre to his wife and five quarters of land to his father, with intent to defraud his creditors. It was also asserted that Ewert executed mort. gages and chattel mortgages on land to secure certain notes: These acts of bankruptcy, was alleged. were committed between January 1 and February 11. The bank receiver was a petitloner because of notes by Ewert. held by the bank. where the security had diminished in value Hughes county was a petitioner by reason of the fact that It had funds in the bank and held Ewert's bond for $10,000 as surety The state superintendent of banks was a petitioner on account of a $2,500 note given by Ewert to the closed Stock Growers Bank of Fort Pierre. where the security had diminished in value. HILEY HONOR MAN Word received from the United States Naval Training station at San Diego, Calif., announces that George L. Hiley, who enlisted recently from Rapid City, has been chosen honor man of his company for the week ending December 9. This honor is obtained only by earnest application to duty and carries with It special privileges as reward, the letter states.