Exchange State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 15, 1932
Location: Menno, South Dakota (43.240, -97.578)

Metadata

Model: gpt-5-mini
Short Digest: 58986dc2

Response Measures

None

Description

Article (Sioux City Journal, 1932-06-15) refers to the closed Exchange State bank Menno. No run is mentioned. The state superintendent of banks is described as seeking to collect stockholders' liability, implying closure by banking authorities (government action). Exact date of suspension/closure not provided in the excerpt.

Events (1)

1. June 15, 1932 Suspension

Cause: Government Action
Cause Details: State superintendent of banks efforts to collect stockholders' liability from a stockholder of the closed Exchange State Bank, indicating regulatory closure by state banking authorities.
Newspaper Excerpt: closed Exchange State bank Menno.
Source: newspapers

Newspaper Articles (1)

1. June 15, 1932 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, June 15, 1932

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Article Text

DAKOTA SUPREME COURT RULINGS Pierre, lower court were reversed and appeal dismissed in South Dakota supreme court rulings handed down this The appeal dismissed was taken the high court by Charles LundGroton attorney, who objected county circuit decision granting legal fees to E. Ryan, Frank and George Crane connection with estate Michael the appeal the ground Lundberg not legally "party in interest," the supreme court expressed opinion legality of the claims the other three attorneys against the estate. Reversing another Brown county circuit court decision, the supreme court upheld efforts of the state perintendent banks to collect stockholder's liability from Andrew Heckenlaible, who owned 8% shares stock in the closed Exchange State bank Menno. new trial was granted in action started in the Beadle county circuit court by Lee Barger and Govis as administrators of the estate Kate Govis against Harry Chelpon. Kate Govis killed when Chelpon's automobile, which she overturned of Huron 1926. Barger and Pete Govis sued Chelpon, claiming negligent. The circuit directed verdict the defendant, the supreme court held the should have gone the Moody county circuit court decision the high upheld ruling by the to the effect Finlayson is not entitled compensation for injuries allegedreceived while he was employed Dowd brothers, contractors. circuit court the industrial but the supreme court he acted properly.