2908a611Borrowed from banks or large institutions, Full suspension, Books examined
Other: Federal Reserve sent $1,000,000 in cash to Sioux Falls banks to stem runs per one article.
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S. D. BANK CLOSES Sioux Falls, 8. D., May 12. - The Dakota Trust and Savings Bank of Sioux Falls a state bank, suspended business today and was placed in the hands of the state superintendent of banking. The bank's statement for April showed deposits of $1,048,000, a decrease of $112,000 over December.
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NORTHWEST BANK CLOSES SIOUX FALLS, S. D., May 12.The Dakota Trust and Savings Bank of Sioux Falls, a state bank, suspended business today, and was placed in the hands of the state superintendent of banking. No reason was given for the closing in a statement posted on the door, but bank officials intimated that the suspension was made necessary by depleted reserves caused by withdrawals. The bank's statement for April showed deposits of $1,048,000. a decrease of $112,000 over December.
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ANOTHER SOO FALLS BANK SUCCUMBS TO RUN Mondays Sioux Falls papers carried the story of the closing of the Dakota Trust and Savings Bank by the state banking department, this making five out of the eight Sioux Falls banks closed. On Tuesday Sioux Falls citizens became panicky and started on the three remaining banks. The Federal Reserve Bank attempted to stem the tide by rushing $1,000,000 of cold cash into the convention city and the banks employed extra heln to hand out the cash as fast as possible in the hope to restore confidence. The outcome is awaited with abated breath throughout the state. Traveling men have brought the story to town that one of the two remaining Micthell banks has lost the confidence of its depositors and that for the last two weeks it has had to shin in cash and hand it over the counter. At the present time is has not fallen but how long it can fight off a determined run is hard to sav. Malicious rumor starts those insane t hings and the instigators ought to be punished for the safety and good name of the state.
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Another Bank Busted. SIOUX FALLS, S. D., May 18.Another state bank has fooled the workers and farmers who had deposits in its keeping. The Dakota Trust and Savings Bank of this city suspended business and was placed in the hands of the state superintendent of banking. No definite reason for failure was made public, altho it is intimated by officials, that withdrawals during the last six weeks had depleted reserves. Boost The DAILY WORKER. If you are a worker, it is your paper.
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SIOUX FALLS BANK SUSPENDS BUSINESS Sioux Falls, S. D., May 12.-The Dakota Trust and Savings bank of Sioux Falls suspended business Monday and was placed in the hands of the state superintendent of banking. No reason was given for the closing in a statement posted on the door, but bank officials intimated that the suspension was made necessary by depleted reserves caused by withdrawals in the last six weeks. The bank's statement for April showed deposits of $4,048,000, a decrease of $112,000 over the December deposits. It was a state bank.
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SIOUX FALLS BANK SUSPENDS BUSINESS Sioux Falls, S. D., May 12.-The Dakota Trust and Savings bank of Sioux Falls suspended business Monday and was placed in the hands of the state superintendent of banking. No reason was given for the closing in a statement posted on the door, but bank officials intimated that the suspension was made necessary by depleted reserves caused by withdrawals in the last six weeks. The bank's statement for April showed deposits of $4,048,000, a decrease of $112,000 over the December deposits. It was a state bank.