20480. Rowena State Bank (Rowena, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 1, 1930*
Location
Rowena, South Dakota (43.520, -96.556)

Metadata

Model
gpt-5-mini
Short Digest
e4fbc9d3

Response Measures

None

Description

The Rowena State Bank suspended business in November 1930 and is in liquidation as of 1931; court ordered dividend payments indicate permanent closure and ongoing liquidation/administration. No explicit bank run is described in the articles.

Events (3)

1. November 1, 1930* Suspension
Cause Details
Article states the bank suspended business on November 1930 but gives no specific cause (no run, correspondent failure, or government action described).
Newspaper Excerpt
The Rowena bank suspended business on November 1930.
Source
newspapers
2. May 22, 1931 Receivership
Newspaper Excerpt
The first 10 percent was ordered paid on May 22. The Rowena bank suspended business on November 1930. The court order directs the payment of the dividend as soon as possible. (mentions May 22 order).
Source
newspapers
3. September 8, 1931 Other
Newspaper Excerpt
The second 10 percent dividend to be paid ... in the liquidation of the affairs of the Rowena State bank, was disclosed today when court order authorizing the payment of the dividend was filed for payment in circuit court. The order was signed by Judge John Medin upon the petition ... The Rowena bank suspended business on November 1930. The court order directs the payment of the dividend as soon as possible. (Argus-Leader 1931-09-08).
Source
newspapers

Newspaper Articles (3)

Article from Argus-Leader, January 27, 1931

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Article Text

Around the Courthouse In Circuit Court O. M. Cox, Sioux Falls, has instituted an action circuit court against the Sioux Falls Motor company and the General Motors Acceptance corporation which he demands judgment the defendants $504.91 his plaint Mr Cox alleges that on June 1930, he purchased car from the motor company. making partial payment and siginng note and conditional contract the balance due The note and contract was by the motor company to the acceptcorportaion, which, on Oc15. seized the car, claiming default in Mr. Cox alleges that on October he offered full payment of the due, and that this was by the acceptance they still holding the car. Mr. Cox demands judgment for the amount he paid on the car. He is by Louis H. Smith. and R. Johnson is attorney the defendants. Judge John Medin has signed order in circuit court setting February the date for hearing on petition R. Smith. acting for behalf the Rowena bank in which Mr Smith asks for an order to sell all the personal property of the bank which business on November In Probate Court The last will and testament of Millie Allan, deceased. was admitted to probate and letters testamentary were issued Allan. C. Halls. Garretson, repthe The last will and testament of Eva Doerr, deceased. was admitted to probate and letters testamentary to the Security National Bank and Trust company of Sioux Falls. & Voorhees are attorneys for the was filed praving that letters administration of the esJohn issued to John Schroeder Hearing set for February was represented by Feyder & Conway An was made appointing Edward F. Froehlich guardian of the and estate Mary Car ney. an filed his bond and qualified. is attorney for the guardian. Letters of administration of the estate of C. C. Bach. deceased, were issued to John Hermanson. He filed his bond and qualified. Zimmerman & Nisbet. Dell Rapids, attorneys for John Wood of Hartford. administrator the estate of Bonham. filed his final report with praying for final settlement and bution. Hearing was set for February Krause Krause, Dell Rapids. are attorneys for the administrator Marriage Licenses William Norton Harrisburg Wlima Foster Harrisburg W. R. Siemonsma Sioux Falls Louise Pins Sioux Falls


Article from Argus-Leader, September 8, 1931

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Article Text

Rowena Bank Will Pay Second Dividend Soon The second 10 percent dividend to be paid within four months has been ordered in the of liquidating the affairs of the Rowena State bank, was disclosed today when court order authorizing the ment of the dividend was filed pay. in circuit The order was signed by Judge John Medin upon the petition Ruden. banks. The first 10 percent was ordered paid on May 22. The Rowena bank suspended business on November 1930. The court order directs the payment of the dividend as soon as possible.


Article from Argus-Leader, September 10, 1931

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Article Text

Change in Policy The second 10 percent dividend to be paid within four months has been ordered business liquidating the affairs of the Rowena bank, the court authorizing the payment the dividend was filed in circuit order was signed Judge John Medin upon banks. The first percent dividend was ordered on The Rowena bank busicourt order directs the soon News item in on It does seem kinda good to see dividends of closed banks being paid to depositors under Governor Green's administration instead of being dumped into the Platte bank they were while William J. Bulow Governor. Repeal of prohibition may bring prosperity to those who sell liquor but we can't see where it will expand the contents of the pocketbooks of those who buy it.