20351. First National Bank (Gregory, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8600
Charter Number
8600
Start Date
August 10, 1923
Location
Gregory, South Dakota (43.234, -99.429)

Metadata

Model
gpt-5-mini
Short Digest
d15726b8

Response Measures

None

Receivership Details

Depositor recovery rate
2.5%
Date receivership started
1923-04-12
Date receivership terminated
1931-01-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
12.3%
Share of assets assessed as doubtful
70.3%
Share of assets assessed as worthless
17.4%

Description

Newspaper articles state the First National Bank at Gregory is in the hands of a receiver after the former president E. F. Strain was arrested for violating national banking laws (article dated 1923-08-10). No runs are described. A 1927 article names a receiver who is also receiver for Gregory's First National, indicating liquidation/receivership continued.

Events (4)

1. March 19, 1907 Chartered
Source
historical_nic
2. April 12, 1923 Receivership
Source
historical_nic
3. August 10, 1923 Receivership
Newspaper Excerpt
The First National bank now is in the hands of a receiver. ...Mr. L'Herrison will liquidate the affairs of the bank as rapidly as possible He is also receiver of the First National Bank of Gregory ... (Omaha Bee, 1927-06-26).
Source
newspapers
4. August 10, 1923 Suspension
Cause
Government Action
Cause Details
Former president arrested for violating national banking laws; bank placed in hands of a receiver (regulatory/legal action).
Newspaper Excerpt
Charged with violating the national banking laws, E. F. Strain, former president of the First National bank at Gregory has been arrested by a deputy United States marshal. The First National bank now is in the hands of a receiver.
Source
newspapers

Newspaper Articles (3)

Article from The Mellette County Pioneer, August 10, 1923

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Article Text

preparing to make some needed improvements to the local stockyards. Large sheds will be built to shelter livestock preparatory to being loaded on cars, a well will be drilled to supply water and other facilities added, making the stockyards one of the most elaborate in western South Dakota. Mitchell. Bottled liquor is fast disappearing in South Dakota, according to Charles Peters, deputy state sheriff. And not only is the bonded article growing scarce, but even the moonshiners who for the past few years have reaped an illicit harvest, are going out of business. The new state law, which forces courts to impose jail sentences on manufacturers of moonshine, is said to be responsible for the decision of the moonshiners to go out of business. Castlewood. As the result of a meeting of stockholders, patrons and other interested persons, it has been decided to rebuild the Castlewood creamery building, which recently was destroyed by fire. A committee was named to have charge of the work of construction, which will commence at once. Lake Preston. That an aggregate of more than 104,000 bushels of grain and 1,100 tons of coal were handled during the fiscal year ending June 30, of this year, is shown by reports made at the annual, meeting of the Stockholders of the Lake Preston Co-operative Elevator company. Egan. Antone Johnstone, laborer of Egan held for the murder of W. E. Johnson and the wounding of Mrs. Johnson, his neighbor, when they interceded during a quarrel between Johnston and his wife, decided to enter a plea of guilty to the charge of murder. Gregory. Charged with violating the national banking laws, E. F. Strain, former president of the First National bank at Gregory has been arrested by a deputy United States marshal. The First National bank now is in the hands of a receiver. Fairfax. Farmers of this district report losses from cockleburr poisoning, the losses being confined to their herds of hogs, which have a liking for this plant which is exceedingly dangerous to hogs just at this season of the year. White River. With an organization recently of the White River independent school district the old district and old school board passed out of existence. They had been in existence since the early days of the Rosebud county. Miller. Work is being rushed on Miller's new municipal auditorium. The cement work on the basement has been completed, and the contractors are now ready to start the brick work as soon as the materials arrive. Aberdeen. A terrific hailstorm 13 miles out of here did great damage to crops in some spots. Many of the farmers were fortunate in having over half of their grain cut and shocked, thus saving still heavier loss. Pierre. According to the estimate of J. C. Holmes, secretary of the South Dakota wool pool, cooperating with the state department of agriculture, the wool clip is a pound lighter per head this year than it was last year. Mitchell. Acting in conjunction with the Chamber of Commerce the Lions club has determined to mark the highways leading into Mitchell with tri-colored arrows showing the distance to the city. De Smet. About 40 harvest hands have been placed on farms of Kingsbury county from the county seat through the efforts of the free employment office here. Wages are $3.50 a day. Huron. Huron will entertain the quadrennial state convention of the Modern Brotherhood of America August 3 and 4, the Montana lodges joining with South Dakota in this meeting. Onida. Thousands of old settlers of Sully county and members of their families will attend the annual old settlers' picnic which is to be held in Onida, August 17. Gregory. Elaborate preparations are being made by the commercial club for a big community picnic and celebration, which will be held in the city park August 15. Stratford. Fire of unknown origin here, destroyed five buildings, including hardware store, garage and mercantile store. Loss $25,000, partially insured. Worthing. Highway work between Worthing and Lennox is progressing well and the road soon will be one of the best in this part of the state. Huron. Fifty-six embyro teachers took examinations at the Huron high


Article from The Miller Press, August 16, 1923

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Article Text

of this fact the railway company is preparing to make some needed improvements to the local stockyards. Large sheds will be built to shelter livestock preparatory to being loaded on cars, a well will be drilled to supply water and other facilities added. making the stockyards one of the most elaborate in western South Dakota. Mitchell.-Bottled liquor is fast disappearing in South Dakota, according to Charles Peters, deputy state sheriff. And not only is the bonded article growing scarce, but even the moonshiners who for the past few years have reaped an illicit harvest, are going out of business. The new state law, which forces courts to impose jail sentences on manufacturers of moonnshine. is said to be respons ible for the decision of the moonshiners to go out of business. Castlewood.-As the result of a meeting of stockholders, patrons and other interested persons, it has been decided to rebuild the Castlewood creamery building, which recently was destroyed by fire. A committee was named to have charge of the work of construction, which will commence at once. Lake Preston.-That an aggregate of more than 104,000 bushels of grain and 1,100 tons of coal were handled during the fiscal year ending June 30, of this year, is shown by reports made at the annual meeting of the Stock. holders of the Lake Preston Co-operative Elevator company. Egan.-Antone Johnstone, laborer of Egan held for the murder of W. E. Johnson and the wounding of Mrs. Johnson, his neighbor, when they interceded during a quarrel between Johnston and his wife, decided to enter a plea of guilty to the charge of murder. Gregory.-Charged with violating the national banking laws, E. F. Strain, former president of the First National bank at Gregory has been arrested by a deputy United States marshal. The First National bank now is in the hands of a receiver. Fairfax.-Farmers of this district report losses from cockleburr poison. ing, the losses being confined te their herds of hogs, which have a liking for this plant which is exceed ingly dangerous to hogs just at this season of the year. White River.-With an organiza tion recently of the White River in dependent school district the old district and old school board passed out of existence. They had been in existence since the early days of the Rosebud county. Miller.Work is being rushed on Miller's new municipal auditorium The cement work on the basement has been completed, and the con tractors are now ready to start the brick work as soon as the materials arrive. Aberdeen.-A terrific hailstorm 13 miles out of here did great damage to crops in some spots. Many of the farmers were fortunate in having over half of their grain cut and shocked, thus saving still heavier loss Pierre.-According to the estimate of J. C. Holmes, secretary of the South Dakota wool pool, cooperating with the state department of agriculture the wool clip is a pound lighter per head this year than it was last year Mitchell.-Acting in conjunction with the Chamber of Commerce the Lions club has determined to mark the highways leading into Mitchell with tri-colored arrows showing the distance to the city. De Smet.-About 40 harvest hands have been placed on farms of Kings bury county from the county seat through the efforts of the free em ployment office here. Wages are $3.50 a day. Huron.-Huron will entertain the quadrennial state convention of the Modern Brotherhood of America Aug ust 3 and 4, the Montana lodges job ing with South Dakota in this meet ing. Onida.-Thousands of old settlers of Sully county and members of their families will attend the annual old settlers' picnic which is to be held in Onida, August 17. Gregory.-Elaborate preparations are being made by the commercial club for a big community picnic and celebration, which will be held in the city park August 15. Stratford.-Fire of unknown origin here, destroyed five buildings, includ ing hardware store, garage and mer cantile store. Loss $25,000, partially


Article from The Omaha Morning Bee-News, June 26, 1927

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Article Text

Bible School Presents Pageant at Red Cloud Red Cloud. June part program for the last day of the Vacation Bible school. which closed here Friday. pageant. "The City Beautiful.' was put on by 46 members of the school during the evening. Music was furnished by union chorus composed of singers from the differchurches. Other features of the evening were dramatization the primary boys and girls. bible drill given by the juniors and exhibit the work done in the school this year. Winner Receiver for Three National Banks Winner. June L'Herrison of this city has been appointed receiver of the First National bank of Kennebec. S. which was closed by resolution of its Board of directors. Mr. L'Herrison will liquidate the affairs of the bank as rapidly as possible He is also receiver of the First National Bank of Gregory and both First National and the Winner National of Winner. Boy Dies of Lockjaw Due to Wound in Hand Columbus. June Joseph Pfeifer. 14. son of Mr. and Mrsal Fred Pfeiter near Humphrey. died in St. Mary hospital here result of severe wound in the palm right hand. caused by explosion of blank cartridge in revolver He was given immediate medical atten tion. but lockjaw developed and physicians were unable to save life.