20456. Plankinton bank (Plankinton, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 18, 1897
Location
Plankinton, South Dakota (43.716, -98.485)

Metadata

Model
gpt-5-mini
Short Digest
861aba84

Response Measures

None

Description

Newspaper items state explicitly 'failure of the Plankinton bank' and refer to an assignee settling with the state — indicates the bank failed and was placed in the hands of an assignee/receiver. No run or reopening is mentioned in the articles. Date of mention is 1897-11-18 (publication date); the failure likely occurred earlier but is not dated in the text.

Events (1)
1. November 18, 1897 Receivership
Newspaper Excerpt
Frudenfeld was financially swamped by the failure of the Plankinton bank, where the state funds were deposited. He assigned and the assignee settled with the state for $2,000 less than was due.
Source
newspapers

Newspaper Articles (2)
1. November 18, 1897 Reporter and Farmer Webster, SD
Article from Reporter and Farmer, November 18, 1897

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Article Text

# Charged With Libel. Sioux Falls. S. D. - Charles Allen, of the Brookings Press, has been arrested here for criminal libel on charges preferred by Joseph Frudenfeld, who was formerly a member and treasurer of the state board of regents. Frudenfeld was financially swamped by the failure of the Plankinton bank, where the state funds were deposited. He assigned and the assignee settled with the state for $2,000 less than was due. He went to Minneapolis where he resided three years. Recently he returned and established an insurance company. The Brookings Press contained an article calculated to do him an injury, so it is alleged, and the proceedings were the result.

2. November 18, 1897 The Pioneer Press Miller, SD
Article from The Pioneer Press, November 18, 1897

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Article Text

# Charged With Libel. Sioux Falls, S. D. - Charles Allen, of the Brookings Press, has been arrested here for criminal libel on charges preferred by Joseph Frudenfeld, who was formerly a member and treasurer of the state board of regents. Frudenfeld was financially swamped by the failure of the Plankinton bank, where the state funds were deposited. He assigned and the assignee settled with the state for $2,000 less than was due. He went to Minneapolis where he resided three years. Recently he returned and established an insurance company. The Brookings Press contained an article calculated to do him an injury, so it is alleged, and the proceedings were the result.