22171. Bank of Colville (Colville, WA)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 21, 1928
Location: Colville, Washington (48.547, -117.906)

Metadata

Model: gpt-5-mini
Short Digest: cff86729

Response Measures

None

Description

Newspapers report the Bank of Colville has closed its doors and gone into the hands of the state banking department (Dec 21, 1928). Subsequent articles (Jan–Apr 1929) refer to the bank as defunct, in liquidation, and a receiver/liquidator (H. C. Johnson / James Drain) managing assets and paying dividends. No run on the bank is described in the articles; the closure appears to be by state action followed by liquidation/receivership (permanent).

Events (5)

1. December 21, 1928 Suspension

Cause: Government Action
Cause Details: Closed and placed in custody of the state banking department (state examiners/department took control).
Newspaper Excerpt: The Bank of Colville, one of the oldest banks in Stevens county, has closed its doors and gone into the hands of the state banking department.
Source: newspapers

2. January 10, 1929 Other

Newspaper Excerpt: temporary restraining order on January 10 ... depositors of the defunct Bank of Colville sought to prevent occupancy of the bank building by organized Colville Valley bank. The Colville Valley bank has since opened in other quarters. (Neal of Okanogan today issued ruling in favor of the plaintiffs...)
Source: newspapers

3. February 8, 1929 Other

Newspaper Excerpt: Assets of the Bank of Colville, now in process of liquidation, are found by the receiver to total $809,240, sufficient to pay all depositors 100 cents on the dollar.
Source: newspapers

4. April 19, 1929 Other

Newspaper Excerpt: H. C. Johnson, liquidator of the Bank of Colville, is preparing to pay a 25 per cent dividend to depositors.
Source: newspapers

5. December 19, 1929 Receivership

Newspaper Excerpt: James Drain, receiver of the bank, requested ... In his capacity liquidator the Bank Colville ... actions started ... receiver moving against stockholders who delinquent.
Source: newspapers

Newspaper Articles (8)

1. December 21, 1928 White Bluffs Spokesman White Bluffs, WA

Article from White Bluffs Spokesman, December 21, 1928

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WASHINGTON NEWS ITEMS OF INTEREST Brief Resume of Happenings of the Week Collected for Our Readers. Plans for a 22-story Medical building at Tacoma have been prepared. It will be financed by Tacoma and Seattle capital. A free veteran's employment bureau has been established in the office of City Treasurer Ranck of Vancouver, in the Legion building. Although snow is reported to be 14 inches deep on the level, cars are still going over Blewett and Snoqualmie passes without difficulty. President Coolidge has nominated John F. Meyer as postmaster at College Place, T. B. Stidham at Doty and W. C. Hubbard at Klickitat. Postoffice receipts at Spokane for 11 months of this year were in excess of $950,919, an increase of $30,000 over a corresponding period last year. Dedication of the new St. Patricks school, which will cost $108,000, took place at Walla Walla recently. Forty priests took part in the exercises. Plans for raising $150,000 to finance the Palouse Pulp & Paper company were formulated recently at the barbecue held in the Palouse auditorium. The Bank of Colville, one of the oldest banks in Stevens county, has closed its doors and gone into the hands of the state banking department. The canning plant of the Washington Growers' Co-operative at Vancouver closed after a successful run of three months on prunes, pears and apples. A turnip more than 14 inches in diameter and weighing 10 1/2 pounds has been raised by George L. Evans, a rancher living 15 miles north of Ho quiam. Directors of the Fishermen's Packing company of Everett have authorized additions and alterations to their salmon packing plant involving a cost of $75,000. More than 100,000 golden seal plants have been set out in various parts of Grays Harbor county. From the plant is extracted a medicinal principle known as hydrastin. Schools were closed in South Cle Elum and in Cle Elum in northern Kittitas county last week when a large proportion of the student body was stricken with influenza. Albert J. Hoskins, 45, former reader of the house of representatives, was crushed to death under his automobile, which left the highway recently one mile north of Spokane. An epidemic of colds, influenza and pneumonia is sweeping over Clark county and the situation has not been improved by the coming of rain and warmer weather, physicians report. Robert Briley, detective and city claim agent, who wears star No. 1 of the Spokane police department, has been retired and will receive half pay for life. He has been a member of the force since 1899. A meeting of the Schoolmasters' club of Southwestern Washington was held in Chehalis last Saturday. The club is composed of all men in the teaching profession in southwest Washington and meets annually. Grand Master of Washington Masons John E. Fowler and other grand lodge officers of Washington and Ore gon met members of the order from Clark, Cowlitz, and Skamania counties in Vancouver Saturday night. Burglars. who broke into the Dalrymple garage at Grandview recently and dynamited the safe, after battering off the combination knob, failed to get the safe open, but damaged it much more than the $20 that it contained. All of southwestern Washington will participate in the celebration of the re moval of toll from the Interstate bridge, according to plans discussed by directors of Vancouver chamber of committee at the regular weekly luncheon. Twelve western Washington coun ties, extending all the way from Clal lam and Jefferson in the Olympia pen insula and Whatcom to the north to Clark and Cowlitz on the south were represented at the second highly suc cessful sheep conference held in Che halis. Total attendance was around 300, and applications for 900 additional

2. December 21, 1928 Spokane Chronicle Spokane, WA

Article from Spokane Chronicle, December 21, 1928

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American Bank Group Discussed Plans With Stevens County Men. A new bank at Colville with capitalization of $50,000 and surplus of $25,000 is being organized, according to nego. tiations now under way between the directors of the American company and the citizens of Colville, it became known today. The American company securities holding corporation associated with the American Bank of Spokane. McBride and Charles Lund, the American company, have visits to Colville recently reports from and have told citizens will put $35,000 into bank the town will raise tional Bought Spokane State. The American company recently organized Clyde president of the American closely identified the bank. On bought out Spokane bank Division and Nora from Milton Nussbaum his Following recent directors' meeting, Mr. Johnson, who Monday for California come the of the bank and the American company. Colville Receptive It is understood Colville business have enthuslastic in reception Mr. McBride and Lund. The ready for opening the the quarters occupied by the Bank Colville. which recently turned its books to the state banking depart ment because the accumulation of an amount of unaccept. report entirely premature," said Mr. McBride today true Mr. Lund and visited and talked the about bank. However, our visits purely to gathfirst tures the Colville rather than the way around. So far, American company has taken action matter what that action should considered at unable to

3. January 29, 1929 Spokane Chronicle Spokane, WA

Article from Spokane Chronicle, January 29, 1929

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CAN NOT OCCUPY BANK BUILDING Neal of Oka. today issued ruling in favor of in the in which depositors of the defunct Bank of Colville to pancy of the building by the organized Colville Valley bank. plaintiffs, Thomas Graham, Arthur Schenk and Lillian Welty, granted temporary hestraining order on January 10 and the effect of today's cision the order, but permanent injunction was not granted. The Colville Valley bank has since opened in other quarters. Mussolini is said to be fond of cat. for the benefit of cats that may not have learned of this side of Mussolini's nature.

4. January 29, 1929 Spokane Chronicle Spokane, WA

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CAN NOT OCCUPY BANK BUILDING cial Neal of Okanogan today issued ruling in favor of the plaintiffs in the in which depositors of the defunct Bank of Colville sought to prevent occupancy of the bank building by organized Colville Valley McCann, Arthur and Lillian Welty, were granted temporary hestraining on 10 and the effect of today's was continue the order, but permanent injunction granted. Valley opened in other quarters. Mussolini is said to be fond of This is published for the benefit of may not have learned of this side of Mussolini's nature.

5. February 8, 1929 White Bluffs Spokesman White Bluffs, WA

Article from White Bluffs Spokesman, February 8, 1929

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WASHINGTON NEWS ITEMS OF INTEREST Brief Resume of Happenings of the Week Collected for Our Readers. Mrs. Martha Rison, 70, Tumwater resident since 1890, died recently. Parents of the students won the vaccination war at Bellingham when 1500 children failed to report to school. Piles for the new big plant of the Consolidated Plywood & Lumber company at Aberdeen will be driven this week. Funeral services were held recently at Chehalis for Mrs. Charlotte Simmons Koontz, 79, one of Washington's oldest residents. Mrs. Mable Stevens, 50 years old, was fatally burned at Seattle when her clothing caught fire while she was standing in front of a heater. Winston Churchill, 20-year-old Seattle messenger boy, was drowned when he fell through the ice while skating on Mud lake, five miles southeast of Renton. Assets of the Bank of Colville, now in process of liquidation, are found by the receiver to total $809,240, sufficient to pay all depositors 100 cents on the dollar. Dividends totaling more than $42,000 were allotted during 1928 to the 1100 stockholders of Lewis-Pacific Dairymen's association, with headquarters at Chehalis. John T. Casey, Seattle attorney, was killed and nine passengers on a Tacoma-bound auto stage were injured in an accident on the highway near Des Moines. Floyd Beverly II of Buena Vista was killed instantly when his skull was crushed against the top of a heavy door while his father was backing a truck out of his garage. With 250 men on its payroll, the Bellingham coal mine is producing more coal than at any time in its history. It recently made a record hoist of 1520 tons in eight hours. Stockholders of the Cowlitz-Clark Dairymen's association are planning the construction of a modern dairy plant at Woodland, the present facilities being found inadequate. With 30 acres planted and an average of 19.25 tons to the acre, Martin Martinsen, farming near Bellingham, received returns of $4042.35 this year from his crop of sugar beets. In addition to being president of the Washington Good Roads association, Clifford L. Babcock of Tacoma has been elected president of the Washington Historical society. Forced into a ditch by a hit-and-run driver, Rodger Sheraton, 18, son of Frank Sheraton, president of the Security National bank at Everett, was killed two miles east of Sultan. I. C. Hockett of Lewiston, Idaho, has arrived in Yakima to become president of the Yakima gas plant, recently purchased from the Pacific Power & Light company by the Union Utilities, Inc. Steady increase in Port Townsend's population has made the present school accommodations far from adequate and the school board is planning to spend $40,000 for new buildings. John Lopan, of Seattle, 38, connected with the Pacific Coast Coal company, is in a critical condition as the result of a cave-in at the company's Indian mine at New Black Diamond. Longview public schools remained closed Thursday and did not resume until Monday morning because of the deep snow and hazardous condition of the roads over which the school busses travel. Earl O. Myers, ex-marine of Spo kane, declared killed in action in France 10 years ago, has appeared in Spokane and is claiming a $20,000 es. tate left by Mrs. Lucy A. Myers, his mother. The 1929 tulip festival will be held on May 9, 10 and 11, reported President J. K. Paxton, following a cabinet meeting. An industrial and auto show is planned in connection with the festival this year. A $35,000 colonial brick house will be built at Pullman this spring for the state college chapter of Kappa Kappa Gamma, national women's social group, it was announced by Wilma Scott, Ritzville, president. This will be the seventh house built at Wash ington state college during the last few years by national sororities. The

6. April 19, 1929 White Bluffs Spokesman White Bluffs, WA

Article from White Bluffs Spokesman, April 19, 1929

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WASHINGTON NEWS ITEMS OF INTEREST Brief Resume of Happenings of the Week Collected for Our Readers. The city commission of Port An geles has let a contract for a new lighting system that will cost $18,500. Rev. Father Ignatius Vasta, S. J., 67, chaplain at Sacred Heart hospital in Spokane, died after a two days' illness with heart trouble. One thousand delegates are expected to attend the annual Washington encampment of American war veterans at Centralia, July 18. H. C. Johnson, liquidator of the Bank of Colville, is preparing to pay a 25 per cent dividend to depositors. Total deposits are $419,453. First contracts for the 1929 state road oiling program will be awarded April 30. About 63 miles of oiling will be provided for on that date. Gasoline tax collections for March totaled a net of $259,053. Net receipts for the first three months of the year were $857,076. The sale of tax title property, April 6, by Douglas county will include the old Porter book store, one of the land marks of Waterville. While the inmates were eating their lunch, the roof of the house on the Thurston county poor farm caught fire. The building was destroyed, with a loss of $4000. Indications are that Bellingham will do at least $2,500,000 worth of new building in 1929. Most of that sum will be spent on two hotels and an apartment house. Alfalfa hay growers of the Touchet Garden-Lowden district in the Walla Walla valley have voted to tax themselves 5 cents a ton to oppose an in crease in hay freight rates. The elimination of $25,000 from the predatory animal control budget by Governor Hartley will cause a reduction of the force of hunters to about 15 men for the ensuing two years. Farmers of Walla Walla county carried over four times as much wheat as is normal last season, according to the figures of the county assessor. On March 1, 2,000,000 bushels were unsold. New plantings that will bring his orchard holdings to 75 acres are being made by Charles Rumholz of Okanogan. Winesaps and Delicious, with Bartlett pear fillers, are the varieties adopted. North Central Washington's 1928 fruit crop is said to have returned $23,000,000 to the growers and ship pers of that district, which comprises Chelan, Okanogan, Grant and Douglas counties. Five legislators who voted against the Showalter bill have written to State School Superintendent Showalter that they now wish they had voted for it. It was defeated in the house by one vote. Although certified motor coaches in Washington carried approximately 2. 000,000 fewer passengers during 1928 than in 1927, the income from such transportation was $4,314,424, about $400,000 greater. Jackrabbits are reported so thick along the railroad tracks between White Bluffs and Priest Rapids that section crews are compelled to shoo them from the track for fear of being derailed if they run over them. Fall grain in the Klickitat valley is presenting satisfactory appearance to wheat growers, considering a poor start last fall. Heavy snowfall last winter left the ground mellow and in good condition for spring plowing. Announcement was made recently of the resignation of Francis E. Peck as cashier of the county treasurer office in Yakima following confirma tion by a check by state examiners of an $1800 shortage in his accounts The Columbia river presbytery has closed a two-day session at Ilwaco, at which Rev. Robert M. Broadbrooks, pastor of the church at Ilwaco, was elected moderator for the next six months. He succeeds Rev. J. C. Merg ler of Centralia. The new plywood plant and sawmill being built in Aberdeen by the Con solidated Plywood & Lumber company of Portland is expected to be ready for first operations about May 1. All of the machinery is on the ground and about half of it has been installed. Fire, which smothered half of the Port Angeles business district with. smoke and threatened to destroy a business block, was controlled by fire men and coast guardsmen after two men had been injured. The blaze started in the egg-candling room of the Clallam County Egg association and rapidly spread through the build ing and licked at adjoining structures Several persons were momentarily trapped in their offices but were res cued. Damage was estimated at $50, 000.

7. December 19, 1929 The Spokesman-Review Spokane, WA

Article from The Spokesman-Review, December 19, 1929

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EXCHANGE SUES ASSESSMENTS Heirs of Late Whitman Wheat King, Lillis Smith, Owe Bank $64,000. EXAMINER DEFENDANT James Drain, Receiver, Moves Against Stockholders Who Delinquent. James Drain, receiver of the bank, quested Lund, attorney reduce claims for stock assessments judgments where the holders have satisfactory efforts set. action has been started in of county against Miss Dean Smith to recover stock $17,000 indebtedness owed the bank, total of Attachbeen issued against lands in county owned by Wheat King's Daughter. Miss Smith daughter of the known the king of WhitLillis was large stockholders in the bank and left his holdings to his children. judgment for proximately has been taken the court against Leslie Suits been filed by the Exchange bank county against Leon Marsh and Marsh for the recovery $2900 each, stock ments. Each held 29 shares in the bank. An has islands by the federal court state his capacity liquidator the Bank Colville, for $2900 alleged to been paid by the Exchange bank through an Get Tax Refund Here. The Exchange National bank has from Spokane refund of taxes paid by the bank the last year its taxes to Of the 8000 the pended bank titled participate the cent now being distributed, only called for stated terday by Mr. Drain

8. December 20, 1929 The Spokesman-Review Spokane, WA

Article from The Spokesman-Review, December 20, 1929

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EXCHANGE SUES ON ASSESSMENTS Heirs of Late Whitman Wheat King, Lillis Smith, Owe Bank $64,000. EXAMINER DEFENDANT James Drain, Receiver, Moves Against Stockholders Who Delinquent. James Drain, receiver of the Exchange bank, requested Charles Lund. attorney the reduce for stock to judgments where the holders have made satisfactory efforts to set- An action has started in the superior Whitman county Miss Dean Smith to recover stock assessment and $17,000 on indebtedness owed the total of Attachissued against lands in Whitman county owned by Wheat King's Daughter. daughter of the late Lillis the wheat king of WhitLillis was bank and left his holdings to his children judgment for ap. proximately has been taken the court against Leslie Suits been filed by the Ex change bank against Leon Marsh Marsh for the $2300 due stock assessments. Each 29 shares in the has by Suit the fed. court H. state in his as liquidator the Bank of Colville, for $2900 alleged have been paid by the Exchange bank error. Get Tax Refund Here. The National bank rehas from county as refund of taxes paid by the bank the last year its taxes to the claimed Of the 8000 the sus. bank entitled to the per cent of now being distributed, 4000 have called stated by Mr. Drain.