Chelan State Bank - Chelan, WA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 1, 1932*
Location: Chelan, Washington (47.841, -120.016)

Metadata

Model: gpt-5-mini
Short Digest: 50eb36bd

Response Measures

None

Description

Article (Sept 8, 1932) states Chelan State Bank closed last February and that the superior court authorized the state banking department to declare a 10% dividend to creditors (second dividend). No run is described; bank appears to have been closed and in receivership/liquidation under state banking authorities.

Events (2)

1. February 1, 1932* Receivership

Newspaper Excerpt: The superior court of Chelan county has authorized the state banking department to declare a 10 per cent dividend to creditors of the Chelan State bank, which closed last February. This is the second dividend. ...the state banking department...creditors of the Chelan State bank, which closed last February. This is the second dividend. ...authorized the state banking department to declare a 10 per cent dividend to creditors of the Chelan State bank, which closed last February. This is the second dividend.
Source: newspapers

2. February 1, 1932* Suspension

Cause: Government Action
Cause Details: Bank closed in February and placed under the authority of the state banking department; court authorizing dividends to creditors.
Newspaper Excerpt: The superior court of Chelan county has authorized the state banking department to declare a 10 per cent dividend to creditors of the Chelan State bank, which closed last February.
Source: newspapers

Newspaper Articles (1)

1. September 8, 1932 White Bluffs Spokesman White Bluffs, WA

Article from White Bluffs Spokesman, September 8, 1932

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Article Text

Hogs-Good to choice, $4.50@4.75. Cattle-Choice steers, $5@5.25. Sheep-Spring lambs, $3.E0@4.25. Spokane Cattle-Steers, good, $4.50@5.25. Hogs-Good to choice, $4.35@4.75. Lambs-Medium to good, $3.50@3.75. The Washington Good Roads association will hold its 33d annual convention at Spokane, September 23. But 490 voters have registered in the three Davenport precincts as compared with 701 registered for the 1930 primaries. Hazel Hiles, small daughter of Mr. and Mrs. W. H. Hiles of Rose Valley, received a severe facial injury when she was kicked by a horse. William Lang, 38, of Cloverland, was killed by a falling pole while erecting a hay derrick. A rope broke without warning and released the pole. Growers in Yakima valley, aware of adverse marketing conditions, are viewing the apple market calmly and intend to pack only the extra fancy and fancy grades. A 10 per cent dividend, totaling $85,000, will be paid depositors of the Commercial Bank & Trust company of Wenatchee. Another 10 per cent dividend will be paid before the end of the year. One of two men who accosted Roger Van Cleve in front of the Kincade confectionery store at Lyle recently, while he was waiting for a bus, choked him and the other took $40 and Van Cleve's watch. Bumper wheat crops are being reported at Chewelah, the yields running from 35 to 60 bushels an acre. An abundant hay crop is being harvested and alfalfa is yielding more than for several seasons. Imagine the embarrassment of A. R. Woodin, Dryden rancher, who, milk pail in hand, went to the barn to milk his cow and found only the cow's hide and entrails. The remainder of the cow was missing. Many Yakima valley peach growers, unable to get the cost of the production and handling of peaches at present prices, are not picking their fruit, although the peak of the harvest is not due for another week. Clyde Kaufman of Riverdale made his first trip to Seattle with his big new cattle truck. He took 18 head. It was the largest shipment of cattle ever to roll out of the Okanogan valley in a single truckload. The bite of a venomous small black spider was nearly fatal to Carl C. Kludas, Omak rancher. Kludas suffered part paralysis of the respiratory muscles and acute cramps shortly after he had been bitten. Jacob Wisebach, 83 years of age, veteran of the Bannock and Nez Perce Indian wars and a resident of Walla Walla for 60 years, is dead. When old Fort Walla Walla was in existence he served 10 years as a sergeant. The superior court of Chelan county has authorized the state banking department to declare a 10 per cent dividend to creditors of the Chelan State bank, which closed last February. This is the second dividend. A number of portable sawmills employing approximately 100 men are operating in various sections of northern Clark county, where small timber tracts which were skipped by the larger plants are being worked over and converted into lumber and railroad ties, with most of the latter being cut for the Chinese republic. J. L. Lynn was painfully injured and his truck badly damaged when another truck, driven by Bob Reed, smashed into him from the rear, forcing him off the road and upsetting the truck, three miles north of Waterville. Elma schools opened September 6, did not offer free courses as usual to a old graduates, but there will be small charge for tuition. The high school staff has been reduced and other cuts made in school manage ment