Commercial State Bank

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: July 1, 1926
Location: Platte, South Dakota (43.387, -98.845)

Metadata

Model: gpt-5-mini
Short Digest: e92b972c

Response Measures

Partial suspension

Other: Banks closed and 'failed to open their doors' pending reorganization and collection of depositor signatures on time certificates.

Description

Multiple articles (dated 1926-07-02) report a heavy run by depositors that forced the Commercial State Bank (one of three state banks in Platte, SD) to close its doors for reorganization. Officials stated the banks were not in bad shape and planned to reopen after obtaining depositors' signatures for five-year time certificates. Crop failures (and failures of other banks in the region) are cited as the trigger — I classify primary cause as local_shock (crop failures).

Events (3)

1. July 1, 1926 Run

Cause: Local Shock
Cause Details: Heavy withdrawals driven by crop failures in the area (and contagion from other failing banks)
Measures: Bank closed temporarily for reorganization and sought depositors' signatures for five-year time certificates payable by percentage each year.
Newspaper Excerpt: following heavy run of depositors Wednesday
Source: newspapers

2. July 2, 1926 Suspension

Cause: Local Shock
Cause Details: Banks closed after heavy runs attributed to crop failures and failures of other banks in the region
Newspaper Excerpt: Doors were locked today on the Commercial State ... following heavy runs of depositors. The institutions ... had closed for purposes and would reopen as soon as they can get depositors' signatures for five year time certificates
Source: newspapers

3. * Other

Newspaper Excerpt: would reopen as soon as they can get depositors' signatures for five year time certificates, payable by percentage every year
Source: newspapers

Newspaper Articles (3)

1. July 2, 1926 The Waukesha County Freeman Waukesha, WI

Article from The Waukesha County Freeman, July 2, 1926

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Article Text

CROP FAILURE BLAMED FOR BANK CLOSURES PLATTE. S. D.-Crop failures were said to bbe responsible for the closing of three more banks in this city. Doors were locked today on the Commercial State, Platte State, and Farmers' State banks, following heavy runs of depositors. The in. stitutions, according to the officers, were not in dangerous conditions and following reorganization will be Saves repairs and keeps reopened providing sufficient fivedown cost of running your year time certificate signatures car. It is as different from should be secured from depositors, as the famous Alemite RHINELANDER-The Rev. George High Pressure Lubrication Staley has accepted the pastorate of is different from the oldthe Methodist church. here, succeeding the Rev. A. 0. Wade. fashionedgrease cup. Have EAU CLAIRE boys from Eau WAUKESHA AUTO SALES CO. Claire will be among the first of the Waukesha, Wisconsin summer quota to attend the "Y." boys' camp at Lower Long lake.

2. July 2, 1926 The Fargo Forum, Daily Republican, and Moorhead Daily News Fargo, ND

Article from The Fargo Forum, Daily Republican, and Moorhead Daily News, July 2, 1926

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Article Text

Heavy Run Closes 3 South Dakota Banks Platte S. D., July state banks the Commercial State Platte State and Farmers State falled open their doors for business yesterday following heavy run of depositors Wednesday Officials of the institutions declared that none of the banks was in shape but that they had closed for purposes and would reopen as soon as they can get depositors' signatures for five year time certificates, payable by percentage every year Crop failures and many other banks failing in this section are said to have caused the local banks to take this step. Business in Platte was at a standstill today.

3. July 2, 1926 Star Tribune Minneapolis, MN

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Article Text

Three State Banks Close in Platte, S.D., Following Heavy Run by Depositors banks, the Commercial State Platte State, and Farmers State failed to open their doors for business this morn. ing. following a heavy run of deposit. Officials of the institutions declared that none of the banks was in bad shape but that they had closed for organization purposes and would signatures for year time cer tificates, payable by percentage each Crop failures and many other banks failing in this section are said to have caused the local banks to take this step. Business in Platte was at stand still today.