22808. Montfort State Bank (Montfort, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1922*
Location
Montfort, Wisconsin (42.972, -90.433)

Metadata

Model
gpt-5-mini
Short Digest
dfdf3590

Response Measures

None

Description

The bank failed in June 1922 and went into receivership/liquidation. Articles describe missing banker Clyde K. Stephens who drew down deposits (embezzlement/bank-specific adverse information). No mention of a depositor run or reopening; sheriff's sale in 1924 confirms permanent closure/liquidation.

Events (4)
1. June 1, 1922* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failure associated with missing banker Clyde K. Stephens who withdrew funds from depositors' accounts (apparent embezzlement/mismanagement).
Newspaper Excerpt
showing a total deposit of $37,387.37 at the time the bank failed in June, 1922.
Source
newspapers
2. November 29, 1922 Other
Newspaper Excerpt
A report current that the Montfort State Bank, now in receivership, will pay out dollar for dollar, is refuted by a statement that the bank will pay about 50 cents on the dollar.
Source
newspapers
3. June 1, 1923* Other
Newspaper Excerpt
the commissioner for the Montfort State bank ... jury held ... at the time the bank failed in June, 1922. ... sums had been taken out by Clyde K. Stephens, the missing banker.
Source
newspapers
4. August 9, 1924 Other
Newspaper Excerpt
Sheriff will sell ... in relation to the Montfort State Bank in liquidation ... on the 9th day of August, A. D. 1924.
Source
newspapers

Newspaper Articles (6)
1. November 8, 1922 Grant County Herald Lancaster, WI
Article from Grant County Herald, November 8, 1922

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Article Text

NEIGHBORHOOD BREVITIES AND NEARBY NOTES Important Events of Week From TriState Area. Frank Ludvic and John Ivers, Pra du. Chien youths, await trial on a Chalge UI Studing 1018 from the warehouse of Hanly Bros. and selling them to one Jake Goldberg. A. W. Henderson, 80, Civil war veteran, died at Los Angeles, Friday a week ago. The body was taken " Boscober, his former nome, for burial A Grant County Guernsey bull from the nerd or Daie Rundeli, Ore Hil farm, two and one-half miles south of Livingston, will begin a long journey very soon. He was purchased last week by a Guernsey breeder in the state of Georgia. John T. Riley, Interstate lineman working at Galena, was crossed up with 2,200 volts of current while changing wires on a pole. Riley was able LO descend the pole and go to a doctor. He was badly burned on the arms but will recover. John E. Jones, old and respected resident of Rewey, accidentally shot himslf while huenting. Jones was standing on a stump looking about for rabbits when his shotgun discharged the charge taking effect in his arm. A doctor removed 30 shots from the wound. A great quantity of coal is going north over the Burlington road every day-a number of full trains besides many cars on mixed trains. There is on an average of eight to ten full train loads of coal being rushed over this route for the north and northwest every 24 hours. The claim of the state against the Montfort State Bank has been assigned to the Surety Co., by the state

2. November 29, 1922 Grant County Herald Lancaster, WI
Article from Grant County Herald, November 29, 1922

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NEIGHBURHOOD BREVITIES AND NEARBY NOTES Important Events of Week From TriState Area. J. P. Bonn, 70. a former Potosi resident, died Nov. 18 at Salt Lake City, Utah. The A. & P. syndicate have leased quarters at Pra. du Chien, and will open a store there soon. Miss Helen Dickson, Hollandale high school teacher, died at Dodgeville Thursday following an operation for appendicitis. John Cornish, 73 years, died at Dodgeville Wednesday, Mr. Cornish was born and spent his entire life in the city of dodgeville. Geo. Wilson, Richland Center hunter, accidentally discharged a .22 rifle and the ball plowed through the fleshy part of his arm. The school district of Mineral Point has taken action authorizing purchase of a site and erection of a $125,000 high school building. Elizabeth, two-year old daughter of Mr. and Mrs. Bennett Erickson, Blue Mounds, fell into a cesspool on the premises and was drowned. Joe Wanek, a veteran of the World war and sole support of his aged parents, has disappeared from his home at Avoca. A violent end is feared. Richland county may be high on insanity, but it has little poverty. There are 117 asylum patients but only eight poor patients in the county infirmary. A gravel truck driven by Frank Meyers, Aurora, III., collided with an east-bound passenger train at Blue Mounds, Thursday. Meyers has little show of recovery. A report current that the Montfort State Bank, now in receivership, will pay out dollar for dollar, is refuted by a statement that the bank will pay about 50 cents on the dollar. Mrs. G. H. Hesselman, wife of the well known Dyersville, Iowa, real eslate man, died Nov. 16, at the age of 57 years. She was the mother of ten children of whom eight are living. William Young, Pra. du Chien, was arrested the second time on a bootlegging charge. It is said that moonshine found in the car of Chas. Mara, killed Oct. 15, was sold to him by Young. Burglars set off three blasts of dynamite in an effort to loot the state bank of Mazomanie Wednesday night, but left without making a robbery, leaving their tools scattered over the bank floor. Arthur Shelton, Clyde, stepped through an opening in his barn loft and landed on the lower floor. In falling his arm caught a nail and was ripped so badly it took 16 stitches to close the wound. The Crawford county board did away with the office of county agent as a measure of economy. The board had no antagonism toward the present agent, A. H. Wright, but doubted the economic value of the office. Ole Paul of Wyoming township, lowa county, states that a number of evo making his form their hame

3. June 20, 1923 Grant County Herald Lancaster, WI
Article from Grant County Herald, June 20, 1923

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Article Text

KNOTTY POINTS OF LAW BEFORE CIRCUIT COURT Pass Book Deposit Evidence Says Jury Mrs. Barbara Stephens, Montfort. by R. M. Orchard and A. W. Kopp, won a suit against the commissioner for the Montfort State bank last week. A jury held that the commissioner must accept as proper evidence of deposit the bank book of Mrs. Stephens, showing a total deposit of $37,387.37 at the time the bank failed in June, 1922. The bank's ledger showed the deposits correctly but also listed various large withdrawals from Mrs. Stephens' account which was "whittled down" to around $2,300. These sums had been taken out by Clyde K. Stephens, the missing banker. and the commissioner's attorneys sought to prove that Mr. Stephens acted as the old lady's agent. Plaintiff's attorneys convinced the jury that the banker had offered Mrs. Barbara Stephens, aged 91 and no relation, 6 percent interest upon daily balances if she would leave her large account in the bank. The plaintiff also proved that sums drawn out by Stephens had been made without the aged woman's knowledge or authority. Mrs. Stephens now receives credit for $6,343 on interest bearing deposits and will also be credited for the full amount she carried on checking account. The total is in excess of $40,000. She will share pro rata with other depositors, receiving probably 25 cents on the dollar when the whole matter is settled up. As the commissioner had previously rejected all of her checking account claim except the $2,300 shown on the bank ledger, she benefits largely by winning the suit. Mrs. Stephens is alone in the world except for foster-daughter, Miss Jennie Franklin. A suit brought by Miss Roxie DeBardelaben of Mobile, Ala., to compell acknowledgement of $8,968.54, held under similar circumstances as the claim of Mrs. Stephens; was decided for plaintiff without contest Mrs. DeBardelaben's account showed $82.42 on deposit. Her account also had largely been drawn upon by Stephens. She benefits to the extent of around $2,000 assuming that she will now receive 25 percent of her full claim along with other depositors. A third suit brought by Fred Bareis, now in Germany, will involve a claim of $17,000. This will come up soon. The case of F. L. Brechler et al VS John C. Napp, resulted in a verdict for plaintiff. In 1910 Brechler and others mortgaged a farm in Adams county, N. D., to Henderson Halferty, for $4,000. The farm was later sold to Mr. Napp who agreed to assume the debt. Later on it was sold to satisfy Mr. Halferty's claim, the sale bringing about $2,000. Halferty then brought suit against Brechler for the balance due him on the mortgage, and received a judgment for around $2,500. As the next step Brechler, sold out to satisfy Halferty's claim, came back on Napp and won the case. He sued for $3,722.14. Brechler et al were represented by Brennan & Carthew and Napp sought the counsel of F. E. Jenswold. Jenswold left Fennimore several weeks ago and he transferred the case to Geo. B. Clementson. Campbell vs. Udelhofen, damage suit, was decided for plaintiff by a jury late Tuesday. Campbell asked for $10,000, receiving $50 damage for car and $250 personal damage. Vannatta vs. Graham, tried Tuesday, resulted in a verdict for plaintiff. Mr. Vannatta asked for $10,000 and was awarded $50 compensatory damages. His punitory damage was according to the jury's verdict. A lengthy jury case was decided Tuesday for the plaintiff, Mrs. Jessie Wolff of Mt. Hope. Mrs. Wolff sued John Davis, an aged money lender of Patch Grove, for $3,100, alleging that he had unlawfully foreclosed a mortgage without giving her proper and legal notice. The amount asked for was $3,100. Judge Smalley propounded fifteen questions to the jury for answer The court will determine the amount of damages Mrs. Wolff is entitled to.

4. July 2, 1924 Grant County Herald Lancaster, WI
Article from Grant County Herald, July 2, 1924

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# SHERIFF'S SALE In Circuit Court for Grant County, Wisconsin. Anna E. DiVall, Plaintiff, vs. Anna M. Cookson, Alfred D. Cookson, William E. Loney, Frank R. Loney and Ida Loney, his wife, Jennie Frankland, and Marshall Cousins, as Commissioner of Banking of the State of Wisconsin, in relation to the Montfort State Bank in liquidation, and the Montfort State Bank, a domestic corporation, Defendants. By virtue of a judgment of foreclosure and sale made in the above entitled action on the 22nd day of June, A. D. 1923, the undersigned Sheriff of Grant County, State of Wisconsin, will sell at the north front door of the court house in the city of Lan- caster, in said Grant County, Wisconsin, on the 9th day of August, A. D. 1924, at two o'clock in the afternoon of that day the real estate and mortgaged premises de- scribed by said judgment to be sold and therein described as follows:- The North half of the North West quar- ter of Section Five (5), in Township Five (5) North of Range Three (3) West of the 4th P. M. Also the South West quarter of the South West quarter of Section Thirty- two (32), and a strip of land described as follows:-Commencing at the South East corner of the South West quarter of the South West quarter of said Section Thirty- two (32), running thence East fourteen and seven-eights (14 & 7/8) rods; thence North Two hundred eleven (211) rods to the pub- lic highway; thence Northwesterly along the highway about fifteen (15) rods; thence South two hundred nineteen (219) rods to the place of beginning. Also twenty acres off the East side of the following described sixty acre tract, to-wit: The North West quarter of the South West quarter of said Section Thirty-two (32) and the South half of the South West quarter of the North West quarter of said Section Thirty-two (32). All of said lands being in Township Six (6) North of Range Three (3) West of the 4th P. M., in Grant County, Wisconsin. Terms of said sale will be cash. Dated the 23d day of June, A. D. 1924. JOSEPH H. EDGE, 19c6 Sheriff of Grant County, Wisconsin. Brennan & Carthew, Plaintiff's Attorneys.

5. July 9, 1924 Grant County Herald Lancaster, WI
Article from Grant County Herald, July 9, 1924

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Article Text

# SHERIFF'S SALE In Circuit Court for Grant County, Wisconsin. Anna E. DiVall, Plaintiff, vs. Anna M. Cookson, Alfred D. Cookson, William E. Loney, Frank R. Loney and Ida Loney, his wife, Jennie Frankland, and Marshall Cousins, as Commissioner of Banking of the State of Wisconsin, in relation to the Montfort State Bank in liquidation, and the Montfort State Bank, a domestic corporation, Defendants. By virtue of a judgment of foreclosure and sale made in the above entitled action on the 22nd day of June, A. D. 1923, the undersigned Sheriff of Grant County, State of Wisconsin, will sell at the north front door of the court house in the city of Lan- caster, in said Grant County, Wisconsin, on the 9th day of August, A. D. 1924, at two o'clock in the afternoon of that day the real estate and mortgaged premises de- scribed by said judgment to be sold and therein described as follows:- The North half of the North West quar- ter of Section Five (5), in Township Five (5) North of Range Three (3) West of the 4th P. M. Also the South West quarter of the South West quarter of Section Thirty- two (32), and a strip of land described as follows:-Commencing at the South East corner of the South West quarter of the South West quarter of said Section Thirty- two (32), running, thence East fourteen and seven-eights (14 & 7/8) rods; thence North Two hundred eleven (211) rods to the pub- lic highway; thence Northwesterly along the highway about fifteen (15) rods; thence South two hundred nineteen (219) rods to the place of beginning. Also twenty acres off the East side of the following described sixty acre tract, to-wit: The North West quarter of the South West quarter of said Section Thirty-two (32) and the South half of the South West quarter of the North West quarter of said Section Thirty-two (32). All of said lands being in Township Six (6) North of Range Three (3) West of the 4th P. M., in Grant County, Wisconsin. Terms of said sale will be cash. Dated the 23d day of June, A. D. 1924. JOSEPH H. EDGE, 19c6 Sheriff of Grant County, Wisconsin, Brennan & Carthew, Plaintiff's Attorneys.

6. January 22, 1925 Eagle River Review Eagle River, WI
Article from Eagle River Review, January 22, 1925

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several broken ribs when he was struck by a log which rolled from a load he was attempting to pile up. Charles Hofert, 82, for more than 50 years an employe of the North Western road, died at Janesville. He was retired on a pension several years ago. Mrs. Joseph Minskey, 60, wife of a Wautoma grocer, was instantly killed when she fell 20 feet from the rear second story porch of their home, crushing her skull. Failing to pay a $50 fine for hunting game birds from a boat in open water, John Lasecki, Stevens Point, was taken to the county jail to serve a 60-day sentence. Found dead at the bottom of a mine shaft, Herman Jones, 30, of Linden, drowned in a few inches of water. It is believed he fainted and fell face downward into the water. A year ago Al Weise told of his experience of nearly killing a wolf, between Antigo and Merrill, by running over it with a car, and then using a club to finish the job. Edward P. Colton, 72, an employe of the North Western road, Evansville, 44 years, died at his home Jan. 15. Mr. Colton was station agent in Evansville 33 years, retiring four years ago. George W. Upham, 64, pioneer furniture dealer, died at Marshfield after a lingering illness. A wife and two brothers, one a physician in Washington, and Everett A. Upham, survive him. Mr. and Mrs. L. H. Pritchett of Fennimore, are both band directors. Mr. Pritchett is in charge of the Fennimore Municipal band. Mrs. Pritchett has built up and directs the Bloomington Juvenile band. Corporation papers of the Wausau Fruit and Storage Co., Wausau, have been filed in Madison. The firm is capitalized at $50,000 and the incorporators are M. H. Zender, W. L. Johnson and J. H. Elliott. Albert Perduhn, living on a farm near Gillett, lost the little finger of his right hand while assisting one of his neighbors in butchering a hog. He accidentally got the finger in the animal's mouth and had it bit off. Frank Koellmer, 76, former treasurer and supervisor of the town of Mosel, died at his home in Sheboygan after a short illness with pneumonia. He is survived by a son, Register of Deeds Edwin Koellmer, Sheboygan. Highway construction work in Fond du Lac county was closed for the season with the exception of a contract job on the county line bridge on highway 55, where the work is progressing in a satisfactory manner. W. W. Bemis, 50, of Waupaca, was instantly killed at Newwood, 15 miles northwest of Merrill, when a tree he was cutting fell on him and broke his neck. The body was taken to Merrill. Bemis was employed by the Kinzel Lumber Co. An echo of the Montfort State bank failure of 1922 was found in the ruling of the supreme court against the appeal of the bank commissioner from a judgment of the lower court allowing Alfred Bareis, a depositor, the sum of $13,195. Whether or not is was an agricultural department formula for a non-freezing compound for automobile radiators, Prof. Hulbert, Wilton, does not say, but he mixed corn starch in the water to stop a leak. It did. The water did not circulate long, but it boiled over. For a long time Prof. Hulbert worked, peeling the corn starch pudding off the front of his car. The Prairie du Chien woolen mills were closed down when the weaving department demanded an increase of from 3.6 mills to 5 mills on the scale of textile goods such as are being made here. Sixty-three expert weavers, who have been organized, declared the mills will not operate until the mill management complies with the demand for the standard mill scale. Herman Jones, 30, was found dead at the bottom of a mine shaft half a mile west of Linden, having drowned in a few inches of water. The unfortunate man had been digging at the bottom of a shaft while a companion above hoisted the material. At noon the man at the surface called down to him and went to a shanty to eat dinner. As Jones did not appear search was made and he was found lying face down with the back of his head above water. He had evidently fainted and drowned. Suits, overcoats, sweaters and other merchandise valued at $7,000 were stolen from Stolper Bros.' store, Plymouth, some time between Saturday night and Monday morning, Jan. 10. and 11. Entrance was gained by forcing a door. A truck was used in carry-