20451. Bank of Plankinton (Plankinton, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1900*
Location
Plankinton, South Dakota (43.716, -98.485)

Metadata

Model
gpt-5-mini
Short Digest
4d9909a7

Response Measures

None

Description

Articles describe a bank failure around 1899–1900 with a receiver (O. P. Auld) in possession for several years and ongoing receiver sales in 1904. No contemporaneous run is described; the bank was insolvent and placed in receivership. The Jan. 6, 1900 letter telling the clerk not to open the bank supports a closure around early January 1900. Receiver sale notices dated Feb 1904 confirm the bank remained closed and in receivership.

Events (3)
1. January 1, 1900* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent; manager Stevens wrote clerk Jan. 6, 1900 instructing her not to open due to embarrassing financial condition; receiver later appointed.
Newspaper Excerpt
Stevens notified Miss Howard not to open the bank on the day after the letter was received by her on account of its embarrassing financial condition.
Source
newspapers
2. November 6, 1903 Other
Newspaper Excerpt
The State against Fred L. Stevens, who is charged with having received deposits in the Bank of Plankinton when he knew it to be insolvent. ... I. N. Auld, the present receiver of the bank.
Source
newspapers
3. February 8, 1904 Receivership
Newspaper Excerpt
In pursuance of an order of the circuit court ... made on the 8th day of February, A. D. 1904, in the matter of the receivership of the Bank of Plankinton ... O. P. Auld, Receiver of the Bank of Plankinton will sell at public auction ... dated at Plankinton, South Dakota, this 9th day of February, A. D. 1904. O. P. AULD, Receiver of the Bank of Plankinton. (receiver sale notice).
Source
newspapers

Newspaper Articles (5)
1. November 6, 1903 The Mitchell Capital Mitchell, SD
Article from The Mitchell Capital, November 6, 1903

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Article Text

# The Stevens Cases. The most interesting case to be heard will be that of the State against Fred L. Stevens, who is charged with having received deposits in the Bank of Plankinton when he knew it to be insolvent. Preston & Hannett will appear as the attorneys for Aurora county, and Judge Fellows for the defendant. This case was tried in this county two years ago on a change of venue from Aurora county and Mr. Stevens was found guilty of the charge. He was sentenced to four and one-half years in the penitentiary by Judge Smith, but was granted a stay of proceedings for sixty days. The case, however, was taken to the supreme court for a new trial. The supreme court granted the trial and it was to have been heard last May. but owing to the ill health of the state's leading witness, Mrs. Thos. Bray, it was postponed until the present time Mrs. Bray was employed in Stevens' bank at the time of the failure and was a very important witness in the case, but she will not be here for the trial. While a state witness she was an unwilling one, and the testimony came from her with much reluctance. Her knowledge of the books of the bank aided the state's attorneys to prove the guilt of the defendant. When it was evident that Stevens was to have a new trial it appeared one day that Mrs. Bray was no longer in Plankinton, and the sheriff of that county started out on a hunt after the lady to insure her attendance at the coming term of court. Mrs. Bray had gone to some point in Iowa, where she intends to remain, and under the law she cannot be brought back to give testimony, if she declines to appear. However, the state's attorneys will not have to rely solely on her testimony as the books will be brought into court and they will be utilized to furnish the evidence necessary through the cowledge of I. N. Auld, the present receiver of the bank. This case has been fought from start to finish by both sides and so far Mr. Stevens and his attorney have been successful in carrying their points and preventing the defendant from going to the penitentiary. It has been so long since the failure of the bank that some of the prejudice is wearing away.

2. November 20, 1903 The Mitchell Capital Mitchell, SD
Article from The Mitchell Capital, November 20, 1903

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Article Text

OFFERING THE EVIDENCE The State Producing the Evidence in the Stevens Case-Many Witnesses Examined. Thursday afternoon O. P. Auld was called to the witness stand in the Stevens case after the retirement of ex-Sheriff Nolan. Mr. Auld is the receiver of the defunct bank. and has held that position since its doors were closed nearly four years ago. Preston & Hannett questioned him as to the condition of the bank -the amount of its assets and the amount that had been collected. He stated that the amount secured in the past three years and ten months on the assets was $18,044 13. The receiver now has in his possession a number of old notes of doubtful value, the half interest in some property on Main street in Plankinton, which at the time of the failure was worth $300, and a quarter section of land, the value of which at the time of the failure was $800. The books of the bank were placed in evidence, and doubtless Mr. Auld will be examined further on them. Wayne Mason and Mike Gales were recalled to the stand at the opening session of court Friday morning to identify a letter that was written by Stevens to Maud Howard, the clerk in the bank, on or about Jan. 6, 1900. In this letter Mr. Stevens notified Miss Howard not to open the bank on the day after the letter was received by her on account of its embarrassing financial condition. J. L. Hannett was also placed on the stand to show that he had received that letter into his possession. H. P. Beckwith, of Elk Point, was the next witness called. At the time of the failure Mr. Beckwith was associated with the First National bank of this city. On the day that Fred Stevens left Plankinton he wired the oank to have $1,000 in currency for him at the train when he was to go through that day. Mr. Stevens bad that much money in"the First National to the credit of the Bank of Plankinton. Mr. Beckwith testified that he took the amount to the train and delivered it into the posesssion of Mr. Stevens. Public Examiner Heminway was on the stand at the close of the morning session to verify the statements of the bank made to Maris Taylor former public examiner, from the files of the public examiner's office. the last one being made in October. 1889. J. D. Stemler was the last witness called and he simply veritied the signature of Stevens to a paper. At this point the prosecution rested its case. The defense placed O. L. Branson, president of the First National bank, on the stand as the only witness it cared to produce. Shortly after the failure of the bank, Mr. Branson was requested to make an examination of its condition, which he showed upon the witness stand. From the books he placed the assets of the bank at $56,654.22, and the liabilities at $38,774.75. At this point the defense rested. J. L. Hannett for the prosecution addressed the jury and he was followed by Judge Aiken or the defense. The other attorneys will speak and the case will be given to the jury after the instructions.of Ludge Lones.

3. February 12, 1904 The Mitchell Capital Mitchell, SD
Article from The Mitchell Capital, February 12, 1904

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Article Text

TATE OF SOUTH DAKOTA, FOURTH JUDIcial Circuit-. In Clicult , ourt. Aurora county. Mike Gales, plaintiff. vs. The Bank of Plankinton, a Corpor Hon. defendant. Notice 18 hereby given. that in puran nee of an ord r of the circuit court of the Fourth Judicial circuit of the at to of South DAKOLM, made on the 8th day of February, A. D. 1904, in the matter of the receivership of the BANK or Plankinton, South akota. the undersigned receiver of the Bank of Plankinton will well at public auction. to the highest bidder. for cash. nt the front door of O. P. Auld's real estate office in the city of Plankinton. South Dakota, on Saturday, the 27th day of February, A. D. 1904. at 2 o'clook p. m. of said day. the follow ng described property, Cirwit: Two judgments, amounting to tue sum of $33.058.63: promissory notes amounting to the win of $868.40; 13 shares of Journal Printing Company stock. amounting to the sum of $130 Ou; the southwest quarter or section thirty-tirree, in township one hundred and two. north of range sixty-four, west of the 5th P. M., and an undin ed one-h It Interest In lot 4. in block K, in the orig uni town of Plankint n. S uth Dakuta, also some small articles of personal property used In and about the Bank of Plankinton. The receiver reserves the right to reject any and a 1 b'ds for said properly. or any part thereof. Dated Ht Plankinton, South Dakota, this 9th day of February, A. D 1904. o P. AULD. Receiver of the Bank of P1 nkinton. 8. H. BAKEWELL. Attorney for Receiver.

4. February 12, 1904 The Mitchell Capital Mitchell, SD
Article from The Mitchell Capital, February 12, 1904

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Article Text

O P. AULD. Receiver of the Bank of Plankinton. S. H. BAKEWELL, Attorney for Receiver.

5. February 19, 1904 The Mitchell Capital Mitchell, SD
Article from The Mitchell Capital, February 19, 1904

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Article Text

Receiver's Notice of Sale. STATE OF SOUTH DAKOTA, FOURTH JUDI. Circuit-ss. In Circuit Court. Aurora county. Mike Gales, plaintiff, VS. The Bank of Plankin ton, a. Corporation, defendant. Notice IN hereby given, that in pursu nce of an ord-r of the circuit court of the Fourth judicial ctrcuit of the at to of South Dakota, made on the 6th day of February, A. D. 1904, in the matter of the receivership of the Bank of Plankinton, South akota, the undersigned receiver of the Bank of Plankinton will sell at public auction, to the highest bidder, for cash. at the front door of O. P. Auid's real estate office in the city of Plankinton, South Dakota, on Saturday, the 27th day of February, A. D. 1904, at 2 o'clock p. m. of said day, the follow ng described property, to-wit: Two judgments, amounting to the sum of $33,058.66: promissory notes amounting to the sum of $868.40; 13 shares of Journal Printing Company stock, amounting to the sum of $130.00; the southwest quarter of section thirty-three, In township one hundred and two, north of range sixty-four, west of the 5th P. M., and an undiVI ed one-h It Interest In lot 4, in block 6, in the orig nal town of Plankinton, South Dakota, also some small articles of personal property used in and about the Bank of Plankinton. The receiver reserves the right to reject any and a 1 bids for said property. or any part thereof. Dated at Plankinton, South Dakota, this 9th day of February, A. D. 1904. 0 P. AULD, Receiver of the Bank of Plankinton, S. H. BAKEWELL, Attorney for Receiver.