22223. Farmers State Bank (Lind, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 17, 1921
Location
Lind, Washington (46.972, -118.615)

Metadata

Model
gpt-5-mini
Short Digest
3ed7eb67

Response Measures

None

Description

The Farmers State Bank at Lind, WA closed by request of directors in mid-October 1921 because loans couldn't be collected after poor crops (local agricultural shock). A receiver (M. C. Hayden) was later appointed, indicating the bank remained closed. Sources: Seattle Star and Alaska Daily Empire (Oct 18, 1921) report closure; Vashon Island News-Record (Nov 25, 1921) reports receiver appointment.

Events (2)
1. October 17, 1921 Suspension
Cause
Local Shock
Cause Details
Inability to collect loans because of poor crops in the area depleted reserves, prompting directors to close the bank.
Newspaper Excerpt
The Farmers' State bank at Lind, Adams county, was closed yesterday at the request of the directors. Inability to collect on loans, due to poor crops, is blamed.
Source
newspapers
2. November 25, 1921 Receivership
Newspaper Excerpt
M. C. Hayden, postmaster, has been appointed receiver for the Farmers' State bank of Lind, which was closed three weeks ago.
Source
newspapers

Newspaper Articles (3)
1. October 18, 1921 The Seattle Star Seattle, WA
Article from The Seattle Star, October 18, 1921

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Article Text

Farmers' Bank at Lind Closes Doors OLYMPIA, Oct. 18. The Farmers' State bank at Lind, Adams county, was closed yesterday at the request of the directors. Inability to collect on loans, due to poor crops, is blamed. According to the September state. | ment of the bank, its assets were $106,874 deposit liabilities, $62,374; capital stock, $25,000, and surplus, $2,500. This is the second Adams county bank to suspend business within a few months, the Othello State bank having closed in August.

2. October 18, 1921 The Alaska Daily Empire Juneau, AK
Article from The Alaska Daily Empire, October 18, 1921

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Article Text

Washington State Bank Closes; Reserves Used OLYMPIA, Wash., Oct. 18.-It is announced that the Farmers State Bank at Lind, Wash., has closed. The reasons assigned is that the bank hãs depleted its reserves caused by inability to collect loans due to the poor crops.

3. November 25, 1921 Vashon Island News-Record Vashon, WA
Article from Vashon Island News-Record, November 25, 1921

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Article Text

WASHINGTON STATE NEWS OF INTEREST Important Occurrences of Past Week Briefly Compiled for Our Readers. Stockton, Cal., will be the Seattle basebal! club's training camp next spring. The state has purchased $46,000 worth of Wilbur school bonds at par, with 6 per cent interest. Miss Emma J. Duncan has been appointed postmaster at Castle Glen, a new postoffice in Grant county. A truckload of 6000 knives and 8000 forks was stolen from the quartermaster's department at Camp Lewis. M. C. Hayden, postmaster, has been appointed receiver for the Farmers' State bank of Lind, which was closed three weeks ago.