Bank of Hyder - Hyder, AK

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 1, 1932*
Location: Hyder, Alaska (55.917, -130.025)

Metadata

Model: gpt-5-mini
Short Digest: 9159c77e

Response Measures

None

Description

Article describes the Bank of Hyder as insolvent and placed in receivership and later fully liquidated and paid creditors in full; no run is mentioned. The text contains a possible OCR/date inconsistency: it states the bank went into receivership in 1922 but then says a petition to the court was made in July of 1932 leading to appointment of a receiver. I record the receiver appointment associated with the 1932 petition and the final settlement date from the article (1936-11-21).

Events (2)

1. July 1, 1932* Receivership

Newspaper Excerpt: In July of 1932, John Rustgard, then Territorial Attorney General, petitioned the Court on behalf of the Territorial Banking Board, for his appointment of a receiver for the bank. E. D. Haddon ... was appointed by the court ... as receiver.
Source: newspapers

2. November 21, 1936 Other

Newspaper Excerpt: BANK OF HYDER PAY CREDITORS FULL PAYMENT Insolvent Institution Square with Depositors Dollar for Dollar ... final papers were approved closing the case. ... Receiver Haddon has liquidated the assets of the bank and paid off every creditor 100 cents on the dollar.
Source: newspapers

Newspaper Articles (1)

1. November 21, 1936 The Daily Alaska Empire Juneau, AK

Article from The Daily Alaska Empire, November 21, 1936

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Article Text

BANK OF HYDER PAY CREDITORS FULL PAYMENT Insolvent Institution Square with Depositors Dollar for .Dollar The Bank of Hyder, which went into receivership in 1922, has paid out dollar for dollar. This was the information revealed in the U. S. District Court today when final papers were approved closing the case. In July of 1932, John Rustgard, then Territorial Attorney General, petitioned the Court on behalf of the Territorial Banking Board, for his appointment of a receiver for the bank. E. D. Haddon, owner of the bank, was appointed by the court with R. E. Robertson of Juneau as attorney for the receiver. In the intervening time since that action, Receiver Haddon has liquidated the assets of the bank and paid off every creditor 100 cents on the dollar, according to the final accounting. Receipts totaled $51,045 and disbursements $50,992, leaving a balance of $53.50 which is now on deposit in the B. M. Behrends Bank here.