20428. Farmers State Bank (Mobridge, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 28, 1911
Location
Mobridge, South Dakota (45.537, -100.428)

Metadata

Model
gpt-5-mini
Short Digest
f47214a5

Response Measures

None

Description

Newspapers report the Farmers State Bank at Mobridge was closed and payment suspended by order of the Public Examiner on December 28, 1911 (one later article cites Dec. 30, 1911). Multiple creditor notices and examiner action indicate the bank remained closed and in the custody of the banking department/receiver. A later prosecution of the bank's president for kiting confirms bank-specific malfeasance, but the suspension itself was by government order.

Events (2)
1. December 28, 1911 Suspension
Cause
Government Action
Cause Details
Closed and payment suspended by order of the State Public Examiner (department of banking and finance).
Newspaper Excerpt
was on December 28, 1911, closed and payment suspended by order of the Public Examiner
Source
newspapers
2. March 23, 1912 Receivership
Newspaper Excerpt
In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.
Source
newspapers

Newspaper Articles (12)
1. March 1, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, March 1, 1912

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Article Text

LOCAL NEWS AND COMMENT G. B. Thomas was over from State's Attorney E. B. Adams ranch near Glenham Tuesday. of Java, was a Mobridge visitor Tuesday. Attorney W. M. Potts is absent Anyone wanting washing or from the city on professional busiother housework done by the day, at points east of here. call at James Ritchey's. Hon. Geo. H. Hoffman, of LowJ. W. Harris made a short buswas a Mobridge visitor again iness trip to MeIntosh and MorrisTuesday of this week. town on Wednesday of this week Mrs. A. C. Dykeman has been Mrs. J. F. Comstock returned quite ill for several days, but is Wednesday from a visit with nuch improved at this time. friends at points on the Cheyenne When purchasing coal, rememreservation. we can give you quality in any Mr. and Mrs Harry Hastings quantity. Bright-Webster Lumleft Tuesday night on a somewhat Co. extended trip to Seattle and other Ed Armstrong and Phillip ClayPacific coast points. more, of Cheyenne Junction, spent C. B. Little arrived last week the early part of the week in the from Cottonwood, this state, and e'ty. has accepted a position as pharmaA. H. Brown returned Sunday cist in Thos Church's drug store from an absence of six weeks, I have a number of lots in the which was spent at French Lick Northwest Townsite Company and and other Indiana points. the Main Park addition that I car I am prepared to do all kinds of sell at a bargain. M. T. Woods draying, hauling and moving. AlJohn Cooley, of McLaughlin let riding horses out by the hour or day. L. C. Hollenbeck. engineer on the Standing Rocl branch, was shaking hands with C. W. Boldt, the well-known his many friends in this city Wed Eagle Butte banker, was visiting nesday. with friends and attending to business matters in the city WedFurniture moved, stored o nesday. packed for shipment; empty kegs P. D. Kribs, register of the barrels, etc for sale. In fact United States land office at Timber anything in that line. L. C. Hol lenbeck. Lake, was in the city over last night on his way to Aberdeen for L. E. Pierce came up from Mo visit with his family. bridge Monday to fix up his house For Sale-All my household furand get settled again on the home niture, including good piano, stead. He found the plumbing stoves and may other articles, all bursted by the frost. -Isabel News first-class condition. Terms to George M. Comstock, of Mc responsible parties. Dr. J. E. Laughlin, visited with his parents Ekrem. in this city early in the week Delbert Gallett went to Mobridge Mr. Comstock was returning home Tuesday on business for the D. G. from a visit with friends nea Gallett Jewelry company, which Mound City. several branch stores at MoFarmers in the vicinity of Mo bridge and the trans-Missouri bridge who have not got their ountry.-Aberdeen News. seed or feed for spring, we would Mr. and Mrs. L. J. Edmundson like to have them call at our bank left last week on a trip to several as we may be of some assistance eastern points. They visited Minto you. Mobridge State Bank. neapolis, Milwaukee and Chicago, E. I. Lampy, receiver of the and at present are visiting with relatives and friends at What Farmers State Bank at Mobridge Cheer, Iowa. Friends in the city returned Saturday night for an have received cards from them over-Sunday visit with his family saying that they are having an inand will return to Mobridge to teresting and enjoyable trip. morrow morning. - Watertown Public Opinion. E. S. Ludlow, proprietor of a hotel at Timber Lake, spent Wed nesday in the Bridge City. Mr Ludlow was on his return home from the baliny climes of Florida where he had been spending the most severe portion of the winter A wild animal of some sort has been causing homesteaders in the vicinity of Skull But'e, Corson county, heavy losses of live stock The tracks of the animal lead to the belief that it is a mountain KODAKS lion, and an expedition will be organized to hunt down the crea $2 to $30 ture. For the information of interest SPRING IS IN THE ed attorneys and others, Clerk of AIR Courts Holley, of Dewey county wishes The News to announce that "Kodak Time" Judge Carpenter will be in Tim ber Lake on Monday. March 4th Start now and let us show you at which time he will take up any the newest Kodaks. court matters which may be presented in chambers. The judge Full Line of Supplies is in a position to spend some AT time at Timber Lake, and is anx ious to get all court matters GALLETT'S cleaned up.

2. March 29, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, March 29, 1912

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Article Text

NOTICE TO CREDITORS. State of South Dakota, County of Walworth-ss. Whereas, The Farmers State Bank, a banking corporation chartered under the banking laws of the State of South Dakota, and doing business at its place of business in the town of Mobridge, South Dakota, was on December 28, 1911, closed and payment suspended by order of the Public Examiner, Now Therefore; in accordance with and pursuant to the provisions of Section 13, of Article 1, Chapter 222, Session Laws of 1909. State of South Dakota, as amended by the Session of 1911, notice is hereby given to all persons who may have elaims against the Farmers State Bank to present same to the Public Examiner at his office in the City Hall, Mitchell, South Dakota, or to E. I. Lampy, Examiner in Charge, Mobridge, South Dakota, and make legal proof thereof on or before June 25, 1912. Suitable blanks for making legal proof of claim will be mailed on application. (Seal) In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.

3. April 5, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, April 5, 1912

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Article Text

NOTICE TO CREDITORS. State of South Dakota, County of Walworth-ss. Whereas, The Farmers State Bank, a banking corporation chartered under the banking laws of the State of South Dakota, and doing business at its place of business in the town of Mobridge, South Dakota, was on December 28, 1911, closed and payment suspended by order of the Public Examiner, Now Therefore; in accordance with and pursuant to the provisions of Section 13, of Article 1, Chapter 222, Session Laws of 1909, State of South Dakota, as amended by the Session of 1911, notice is hereby given to all persons who may have elaims against the Farmers State Bank to present same to the Public Examiner at his office in the City Hall, Mitchell, South Dakota, or to E. I. Lampy, Examiner in Charge, Mobridge, South Dakota, and make legal proof thereof on or before June 25, 1912. Suitable blanks for making legal proof of claim will be mailed on application. (Seal) In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.

4. April 19, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, April 19, 1912

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Article Text

NOTICE TO CREDITORS. State of South Dakota, County of Walworth-ss. Whereas, The Farmers State Bank, a banking corporation chartered under the banking laws of the State of South Dakota, and doing business at its place of business in the town of Mobridge, South Dakota, was on December 28, 1911, closed and payment suspended by order of the Public Examiner, Now Therefore; in accordance with and pursuant to the provisions of Section 13, of Article 1, Chapter 222, Session Laws of 1909, State of South Dakota, as amended by the Session of 1911, notice is hereby given to all persons who may have claims against the Farmers State Bank to present same to the Public Examiner at his office in the City Hall, Mitchell, South Dakota. or to E. I. Lampy, Examiner in Charge, Mobridge, South Dakota, and make legal proof thereof on or before June 25, 1912. Suitable blanks for making legal proof of claim will be mailed on application. (Seal) In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.

5. April 26, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, April 26, 1912

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Article Text

NOTICE TO CREDITORS. State of South Dakota, County of Walworth-ss. Whereas, The Farmers State Bank, a banking corporation chartered under the banking laws of the State of South Dakota, and doing business at its place of business in the town of Mobridge, South Dakota, was on December 28, 1911, closed and payment suspended by order of the Public Examiner, Now Therefore: in accordance with and pursuant to the provisions of Section 13, of Article 1, Chapter 222, Session Laws of 1909, State of South Dakota, as amended by the Session of 1911, notice is hereby given to all persons who may have claims against the Farmers State Bank to present same to the Public Examiner at his office in the City Hall, Mitchell, South Dakota, or to E. I. Lampy, Examiner in Charge, Mobridge, South Dakota, and make legal proof thereof on or before June 25, 1912. Suitable blanks for making legal proof of claim will be mailed on application. (Seal) In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.

6. May 3, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, May 3, 1912

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Article Text

NOTICE TO CREDITORS. State of South Dakota, County of Walworth-ss. Whereas, The Farmers State Bank, a banking corporation chartered under the banking laws of the State of South Dakota, and doing business at its place of business in the town of Mobridge, South Dakota, was on December 28, 1911, closed and payment suspended by order of the Public Examiner, Now Therefore; in accordance with and pursuant to the provisions of Section 13, of Article 1, Chapter 222, Session Laws of 1909, State of South Dakota, as amended by the Session of 1911, notice is hereby given to all persons who may have claims against the Farmers State Bank to present same to the Public Examiner at his office in the City Hall, Mitchell, South Dakota, or to E. I. Lampy, Examiner in Charge, Mobridge, South Dakota, and make legal proof thereof on or before June 25, 1912. Suitable blanks for making legal proof of claim will be mailed on application. (Seal) In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.

7. May 17, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, May 17, 1912

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Article Text

NOTICE TO CREDITORS. State of South Dakota, County of Walworth-ss. Whereas, The Farmers State Bank, a banking corporation chartered under the banking laws of the State of South Dakota, and doing business at its place of business in the town of Mobridge, South Dakota, was on December 28, 1911, closed and payment suspended by order of the Public Examiner, Now Therefore; in accordance with and pursuant to the provisions of Section 13, of Article 1, Chapter 222, Session Laws of 1909. State of South Dakota, as amended by the Session of 1911, notice is hereby given to all persons who may have claims against the Farmers State Bank to present same to the Public Examiner at his office in the City Hall, Mitchell, South Dakota, or to E. I. Lampy, Examiner in Charge, Mobridge, South Dakota, and make legal proof thereof on or before June 25, 1912. Suitable blanks for making legal proof of claim will be mailed on application. (Seal) In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.

8. May 24, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, May 24, 1912

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Article Text

NOTICE TO CREDITORS. State of South Dakota, County of Walworth-ss. Whereas, The Farmers State Bank, a banking corporation chartered under the banking laws of the State of South Dakota, and doing business at its place of business in the town of Mobridge, South Dakota, was on December 28, 1911, closed and payment suspended by order of the Public Examiner, Now Therefore; in accordance with and pursuant to the provisions of Section 13, of Article 1, Chapter 222, Session Laws of 1909, State of South Dakota, as amended by the Session of 1911, notice is hereby given to all persons who may have claims against the Farmers State Bank to present same to the Public Examiner at his office in the City Hall, Mitchell, South Dakota, or to E. I. Lampy, Examiner in Charge, Mobridge, South Dakota, and make legal proof thereof on or before June 25, 1912. Suitable blanks for making legal proof of claim will be mailed on application. (Seal) In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.

9. May 31, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, May 31, 1912

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Article Text

NOTICE TO CREDITORS. State of South Dakota, County of Walworth-ss. Whereas, The Farmers State Bank, a banking corporation chartered under the banking laws of the State of South Dakota, and doing business at its place of business in the town of Mobridge, South Dakota, was on December 28, 1911, closed and payment suspended by order of the Public Examiner, Now Therefore; in accordance with and pursuant to the provisions of Section 13, of Article 1, Chapter 222, Session Laws of 1909, State of South Dakota, as amended by the Session of 1911, notice is hereby given to all persons who may have claims against the Farmers State Bank to present same to the Public Examiner at his office in the City Hall, Mitchell, South Dakota, or to E. I. Lampy, Examiner in Charge, Mobridge, South Dakota, and make legal proof thereof on or before June 25, 1912. Suitable blanks for making legal proof of claim will be mailed on application. (Seal) In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.

10. June 7, 1912 The Mobridge News Mobridge, SD
Article from The Mobridge News, June 7, 1912

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Article Text

NOTICE TO CREDITORS. State of South Dakota, County of Walworth-ss. Whereas, The Farmers State Bank, a banking corporation chartered under the banking laws of the State of South Dakota, and doing business at its place of business in the town of Mobridge, South Dakota, was on December 28, 1911, closed and payment suspended by order of the Public Examiner, Now Therefore: in accordance with and pursuant to the provisions of Section 13, of Article 1, Chapter 222, Session Laws of 1909, State of South Dakota, as amended by the Session of 1911, notice is hereby given to all persons who may have claims against the Farmers State Bank to present same to the Public Examiner at his office in the City Hall. Mitchell, South Dakota, or to E. I. Lampy, Examiner in Charge, Mobridge, South Dakota, and make legal proof thereof on or before June 25, 1912. Suitable blanks for making legal proof of claim will be mailed on application. (Seal) In testimony whereof I hereunto set my hand and have affixed the seal of office of the Department of Banking and Finance this 23rd day of March, 1912. J. L. WINGFIELD, Public Examiner.

11. October 15, 1915 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, October 15, 1915

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BANKER IS FOUND GUILTY South Dakotan Convicted of "Juggling" Accounts. Selby, S. D., Oct. 15.-In state circuit court for Walworth county the jury in the case of N. L. Nelson, formerly president of the Farmers' State bank of Mobridge, which was forced to suspend payment Dec. 30, 1911, was found guilty of "kiting" certificates of deposits and otherwise manipulating the books of the bank so as to deceive the state bank examiner.

12. October 16, 1915 The Mobridge News Mobridge, SD
Article from The Mobridge News, October 16, 1915

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STATE CONVICTS RANKER N. l. NELSON State Bank Examiner J. L. Wingfield arrived in this city yesterday from Selby where he had been for the past several days assisting in the prosecution of the case of the State vs N. L. Nelson. Nelson W IS formerly president of the Farmers State Bank of Mobridge which was forced to suspend payment December 30, 1911. At the time it became defunct this bank had a capital of $10,000 and $50,000 deposits. Nelson was charged with making or causing to be made false entries in the books of the bank with intention to deceive the bank examiner as to the condition of the bank reserve. The case attracted wide attention at the time on ac count of the ingenious system Nelson was alleged to have devised of 'kiting' sertificates of deposits to banks outside of the state, thus making it difficult for the bank examiner, with his jurisdiction limited to this state, to get at the bottom of the defalcations. This was supposed to have been carried on for a period extending over seyeral months bv Nelson, in order to cover up his impaired reserve, which, it is charged. he had drawn heavily upon and used the money taken for other business ventures. Shortly before the hank became defunct Felson transferred his interests in the bank, and the in volving of other parties in the matter complicated the legal aspects of the question, and it is this complication that has delayed S settlement of the matter for so long a period. Since becoming defunct the bank has paid dividends of about 40 per cent to the creditors. The jury found Nelson guilty as chargee in the information and Judge Taylor deferred sentence until Friday. States Attorney, A. A. Brown and departmental attor ney, Lauritz Miller, of Mitchell, represented the cause of the state and Attorneys Carpenter and Morrison of Mobridge that of the defendent.-Aberdeen News. LATER Sentence was again deffered un til Tuesday.