22669. Loyal State Bank (Loyal, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 1, 1929*
Location
Loyal, Wisconsin (44.737, -90.496)

Metadata

Model
gpt-5-mini
Short Digest
ddfc2715

Response Measures

None

Description

Articles report Loyal State Bank suspended payments around the holidays (late 1929) and remains closed; a successor, the Clark County Bank (successor to Loyal State Bank) is organizing and preparing to open by May 1930. No run is mentioned. No explicit receivership reported; replacement bank implies permanent closure of the original.

Events (2)

1. December 1, 1929* Suspension
Cause Details
No specific cause given in articles; simply states the bank suspended payments around the holidays following resignation of directors and stockholder disagreement (per later article).
Newspaper Excerpt
Joseph Zenz Sr. writes the Herald from Loyal, Wis., stating that conditions there due to a bank closing are improving and it is thought the Loyal State bank will reopen soon. The bank suspended payments around the holidays.
Source
newspapers
2. May 21, 1930 Other
Newspaper Excerpt
Successor To Loyal State Bank Engages H. S. Wendels ... Clark County bank, successor to the Loyal State bank ... is expected to arrive here within the next few weeks to take over his new duties as soon as the bank opens. ... The Loyal State bank suspended operations several months ago following the resignation of several directors and officials, and the refusal of the majority of the stockholders to affiliate with the Citizens' State bank of Loyal. (Marshfield News-Herald, 1930-05-21).
Source
newspapers

Newspaper Articles (2)

Article from Grant County Herald, March 26, 1930

Click image to open full size in new tab

Article Text

Local Items Al. Hinson has moved to the Harry Barnett farm in So. Lancaster. F. J. Glanville of Milwaukee was a Lancaster visitor last mid-week. Charles Livens has moved from Bridgeport to Route 2, Waukegan, III. Miss Lucy Biggar of the high school staff was week-end guest of friends in Madison. Allen Taylor of the Monitor Garage has gone to Excelsior Springs, Mo., for health treatments. Phillip Weil of Milwaukee spent several days last week visiting Mrs. Alice Stratton and Joe Dohenty. Judge and Mrs. E. B. Goodsell spent several days of last week visiting the judge's sisters in Dodgeville. Ora Stitzer made a flying trip to Chicago, Wednesday. He left early the morning and returned within 24 hours. Leonard Klaasse, musical instructor in the high school, is attending a convention of musicians in Chicago this week. Mrs. John McIlwee went to Madison, Saturday, to visit over the end of the week with her daughter, Mrs. E. L. Shafer. LeRoy Eddy and Burnell Day are opening up soft drink bottling works in the Wenzel building on East Maple street. Miss Margaret McNamara returnéd to Milwaukee, Sunday, after spending a few days visiting relatives and friends in Lancaster. Miss Sarah Fowler, student at the University of Chicago, is spending a vacation with her parents, Dr. and Mrs. James H. Fowler. Isaac Deller of Milwaukee was in Lancaster on business a couple of days last week. While here he visited Judge and Mrs. E. B. Goodsell. Earl Sangster of Austin, Minn., motored down and took his wife and two sons home Sunday following a visit of a fortnight at the J. A. McCoy home. Around fifty members of the Congregational Ladies Aid drove to Potosi Thursday and had dinner as the guests of the Potosi Aid. All present report an enjoyable day with a banquet of a superior character. Mr. Buckley, director for the John B. Rogers Producing Co., arrived in town last week and rehearsals for the Kiwanis minstrel show began at once. The cast includes 28 local girls in a novelty number. There-are several new faces in the circle and new novelty numbers. From appearances Hallowe'en is coming twice a year in Lancaster. An unknown with a drunkard's luck or who is a tragedy of the misfit because he should be doing stunts with Ringling's circus, rammed down the stop signs along No. 61 arterial on North Madison street, Sunday night. Five stops signs were broken down, apparently one after another. "Billie," a valuable springer spaniel owned by Mrs. Frank Schreiner and used by her as a watch dog, died Monday morning of poisoning. A dog owned by Frank Lacke died Saturday evening from the same cause. Mrs. Schreiner advises owners of valuable pets to be on their guard as what will poison one dog will poison another. Henry Pagenkopf is confined to his home in the fourth ward with serious case of blood poisoning, affecting his right arm. Henry was engaged in cutting a belt, Wednesday, and his knife slipped and gouged a small nick in his thumb. Before many hours swelling had set in and Henry was suffering much pain. He will remain at home until improvement is apparent. Prize winners at the R. N. A. "dress-up" party Friday evening were: Joe Wright Jr. as a peddler; Mrs. Ethel Cardey as an old woman; Mrs. Marie Ohlert as a gipsy girl; Miss Stoney as a Spanish boy. The affair was largely attended and all present enjoyed. themselves. Music for the dancers was provided by the Lorenz orchestra, Bill at the violin, his daughter at the piano and his brother, Virgil, at the guitar. They make real music. Mr. and Mrs. Fred Motley of Mineral Point visited Mrs. Ellen Tennant Sunday. Mr. and Mrs. Otto Ott of Glen Haven visited here last week with Miss Mary Warren. Mr. and Mrs. Nick Yunk of Iowa visited relatives in Lancaster and vicinity last week. Harold Goldstein, student at the University, spent the week-end at his home in Lancaster. Mr. and Mrs. W. E. Noble went to Muscatine, Iowa, last mid-week, Mrs. Noble entered a sanitarium for treatment. At last report she was showing some improvement in health. But one license to wed granted all last week: Ralph Atkinson of Beetown to Anna M. Wiest of Cassville. This being Lent the marriage license total is small. Joseph Zenz Sr. writes the Herald from Loyal, Wis., stating that conditions there due to a bank closing are improving and it is thought the Loyal State bank will reopen soon. The bank suspended payments around the holidays. M. W. Torkelson, state regional director, addressed the Isaac Walton league meeting here Tuesday evening. Among other things Mr. Torkelson touched on the necessity of wide trunk line roads to meet increasing traffic demands. Nellie Sweeney Allen was granted a divorce from Frank Allen of Livingston, in circuit court, Friday. Plaintiff was awarded right to resume her maiden name and the ownership of all household furniture. She declined alimony for the present. Ernie Jones, road contractor, has one of the new front-wheel-drive Cord cars that is attracting a good deal of attention. The engine of the car is turned around as compared with the usual design and the motive power is carried to the front wheels instead of the rear. This method enables the driver to turn corners at high speeds with comparitive safety. The gear shift is located on the dash board and there are numerous other novel features. The car is of rakish design and presents an attractive appearance. Mr. and Mrs. Mark Hoskins visited a couple of days in Milwaukee last week. Mrs. Alice J. Galer of Patch Grove was a week end visitor at the home of her son, D. E. Galer. Mrs. Frank Brandemuehl and little daughter of Janesville spent a few days here last week visiting with relatives and friends. Mr. and Mrs. W. C. Carlson of Moline, Ill., came Saturday to help Mrs. Carlson's mother, Mrs. Grace McDonald, celebrate her birthday. They returned home Sunday, motoring up and back. The Rev. J. J. Johnson, pastor of the Baptist church, this city, departed Monday for Beaver Dam where he entered ministers' retreat for a few days. He will return Thursday. Mrs. Joseph Ryan of Hartford, Wis. formerly Miss Olga Hodoval of Lancaster, won a second prize and $100 in Milwaukee Journal contest for a recipe book. The contest was called "The Kitchen Treasure Hunt." Mr. and Mrs. Ryan conduct a restaurant at Hartford. Mr. and Mrs. Carol Edgington have been the recipients of many social honors since their recent marriage. Neighbors and friends staged a party Wednesday evening and the bride's parents, Mr. and Mrs. Sam Emler, gave a shower and party Friday eve at the Rhodes school. Clinton G. Price, former assemblyman and suspended district attorney of Juneau county, was acquitted of the offense of misconduct in office by a federal court jury at Madison, He was tried for conspiracy to violate the federal prohibition law. He has since been reinstated as district attorney. The Hurricane Hustler 4-H club met at the Hurricane Community Center Saturday night with 35 members present. Enrollment blanks were filled out. It was voted to change the place of meeting to the Hurricane school. It was decided to have entertainments at the meetings so an entertainment committee was appointed. Refreshments were served by Geneva Bendorf and Bernadine Dressler. Cheers and songs made up the entertainment for the evening as there was no other entertainment arranged by Cheer Leader Kieth Roesch and Song Leader Maxine Pagel. Next meeting at Boice Creek. April 26.-Press Correspondent. Formula Eczema Ointment. Also for Winter Itch and Falling Hair. Home made. Tried and true. 25c silver. Mrs. Fred Daniels, Rt. No. 3, Granton, Wis. 7p1 FOR SALE-A good 7-year-old well broke mare, weight 1500. A few hundred bushel of early, very dry ear corn. Wisconsin Pedigreed Barley, either for feed or seed. State's Pride Wis. No. 7 Seed Oats. Some White Blossom Sweet Clover seed. Inquire of Ray Williams, Route 2, Lancaster. 7c1 Wis. The Congregational Ladies will serve a 35c Easter luncheon on Tuesday, April 8, at five o'clock. The 7c2 public is invited. Special meeting of Eastern Star Tuesday, April 1: Grand Matron Myrtle Bishop, will be present. Covered dish. chapter furnishes meat-potatoes. Bargains in wall paper at the J. D. Hatch Drug Store. 7c2 FOR RENT-House in 4th ward. Geo. F. Finney, Lancaster, Wis. 7p2 If YOU have Eczema see us at once. It's important. Bennett-Whitmore 5p2 Drug Co. FOR SALE-Barred Rock setting eggs. Leila Bidwell, phone 130-R51, Lancaster, Wis. 7c3 All kinds of bulk garden seeds at 7c2 Hatch's Drug Store. PLATTEVILLE AUTO BODY AND Fender Shop. Skilled workmanship and Factory Refinishing. Dana Company, Platteville, Wis. 7p2 ceased. Notice st Hereby Given, That at the Special Term of Said Court be held on the fourth Tuesday of April, A. D., 1930, at the Court House in the City of Lancaster, County of Grant, and State of Wisthere will be heard and the application of John F. Kerr for the appointment of an administrator of the estate of Thomas Simmons, late of the Village of Hazel Green, in said county, deceased; Notice is Hereby Further Given, That at the Special Term of Court, to be held said Court House, on the fifth Tuesday of July, A. D., 1930, there will be heard and adjusted, all claims against said Thomas Simmons, Deceased: And Notice is Hereby Further Given, That all such for examination and must be presented to said County Court at the Court House in the City of Lancaster, in said County and State, on or before the 24th day of July, A. D., 1930. or be barred. 1930. 7c3 By Dated, the March Court: 24, BRENNAN, Judge. E. B. GOODSELL, Attorney.


Article from Marshfield News-Herald, May 21, 1930

Click image to open full size in new tab

Article Text

ACCEPTS CASHIER'S POSITION AT LOYAL Successor To Loyal State Bank Engages H. S. Wendels Of Pembine (By News-Herald Correspondent) Loyal, May 21.-H. L. Wendels, cashier of the Pembine State bank, has accepted the position of cashier of the Clark County bank, successor to the Loyal State bank, according to announcement by bank officials, and is expected to arrive here within the next few weeks to take over his new duties as soon as the bank opens. At a meeting of the recently elected directors, Elmer Sterr was chosen president, Lee Clouse, vicepresident, and Frank McGonigal, secretary. The board of directors further consists of Oscar Herdrich, Jesse Raab, William Loppnow, and Fred Lakosky. Trustees are Frank Luchterhand, representing the depositors, and Fred I. Cox, elected by the directors. The Loyal State bank suspended operations several months ago following the resignation of several directors and officials, and the refusal of the majority of the stockholders to affiliate with the Citizens' State bank of Loyal.