Midvale State Bank - Midvale, UT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 2, 1928
Location: Midvale, Utah (40.611, -111.900)

Metadata

Model: gpt-5-mini
Short Digest: bb190772

Response Measures

None

Description

Article (Deseret News 1928-04-02) reports the Midvale State Bank suspended business and was taken over by the state banking department which found a $74,000 shortage; cashiers pleaded not guilty to making false statements. No run is mentioned; action appears to be government/state takeover leading to closure/receiver.

Events (1)

1. April 2, 1928 Suspension

Cause: Government Action
Cause Details: State banking department took over the bank and audited accounts after disclosures of shortages (~$74,000) and charges against bank officers.
Newspaper Excerpt: the bank suspended business and was over by the state banking department which making an audit of the accounts. Preliminary examination of the accounts of the bank shortage of $74,000
Source: newspapers

Newspaper Articles (1)

1. April 2, 1928 Deseret News Salt Lake City, UT

Article from Deseret News, April 2, 1928

Click image to open full size in new tab

Article Text

Midvale Bankers Deny Charges at for Clothilde in the interest radio publications Miss Grunsky an editor the and Mining Journal Three years Mr. Grunsky came Salt the principal speaker at the annual banquet of In his Monday the engineer described an cidents made year ago through Egypt, the countriest Holy land. Great going forward redeem this fertile tion of he said. and pressed gratification that engineers are taking the lead Legn Olson and D. Anderand cashier, respectively. the Midvale State bank pleaded not guilty Monday making false ments regarding the condition of bank. Pleas entered before City Judge H. Tanner, fixed April 11, date for prelimhearing Olson Anderson appeared without disclosures shortages in accounts men. the bank suspended business and was over by the state banking department which making an audit of the accounts. Preliminary examination of the accounts of the bank shortage of $74,000