Yegen Brothers (Billings, MT)

Episode Information

Episode UID
2310221991492
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
231022199 hash
Start Date
April 1, 1924*
Location
Billings, Montana (45.783, -108.501)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b33d53ef5b046685

Response Measures

None

Events (3)
1. April 1, 1924* Receivership
Newspaper Excerpt
appointment of Harry L. Hanson by the local district court and the appointment of the Billings receiver
Source
newspapers
2. April 1, 1924* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Alleged insolvency of partners Chris and Peter Yegen with claimed insolvency over $1,000,000; local receiver appointed
Newspaper Excerpt
three Yegen banks now closed
Source
newspapers
3. February 11, 1932 Other
Newspaper Excerpt
final dividend of 11-5 per cent is ready for payment to the creditors of Yegen Brothers, bankers of Billings
Source
newspapers

Newspaper Articles (4)
1. April 4, 1924 The Circle Banner Circle, MT
Article from The Circle Banner, April 4, 1924

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Article Text

BANK CASE TAKEN INTO FEDERAL COURT Want Government to Take Charge of Three Yegen Banks Now Closed Alleging that Chris Yegen and Peter Yegen, co-partners in the Yegen Brothers' banking house of Butte, Billings and Gardiner, are insolvent to the extent of more than $1,000,000, three of the creditors, Anna Olsen, John Demos and Steve Gongu, through their attorneys, Maury & Maury, have filed an involuntary petition in bankruptcy with the federal court at Butte. The petition urges that Federal Judge George Bourquin or Federal Judge Charles N. Pray pronounce the Yegen brothers bankrupt, which would mean the appointment of a second receiver, this one to supersede the appointment of Harry L. Hanson by the local district court and the appointment of the Billings receiver. The petition declares that the Yegen brothers "committed an act of bankruptcy in that because of insolvency there was by the district court of Silver Bow county put in charge a receiver of the property one Harry L. Hanson." Yegen Brothers are given 20 days in which to answer the involuntary petition and should they be found bankrupt by the court, the government will itself take over the jurisdiction of the bank property and will undoubtedly, according to Mr. Maury, place a man over the three closed institutions. The bank having been a private institution, all of the personal property of the Yegen Brothers can be sold to take care of the depositors.

2. April 25, 1924 The Producers News Plentywood, MT
Article from The Producers News, April 25, 1924

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Article Text

BANK CASE TAKEN INTO FEDERAL COURT WANT GOVERNMENT TO TAKE CHARGE OF THREE YEGEN BANKS NOW CLOSED. Alleging that Chris Yegen and Peter Yegen, co-partners in the Yegen Brothers' Banking house of Butte, Billings and Gardiner are insolvent to the extent of more than $1,000,000, three of the creditors, Anna Olsen, John Demos and Steve Gongu, thru their attorneys, Maury & Maury, have filed an involuntary petition in bankruptcy with the federal court at Butte. The petition urges that Federal Judge George Bourquin or Federal Judge Charles N. Pray pronounce the Yegen brothers bankrupt, which would mean the appointment of a second receiver, this one to supersede the appointment of Harry L. Hanson by th elocal district court and the appointment of the Billings receiver. The petition declares that the Yegen brothers "committed an act of bankruptcy in that because of insolvency there was by the district court of Silver Bow county put in charge a receiver of the property one Harry L. Hanson." Yegen Brothers are given 20 days in which to answer the involuntary petition and should they be found bankrupt by the court, the government will itself take over the jurisdiction of the bank property and will undoubtedly, according to Mr. Maury, place a man over the three closed institutions. The bank having been a private institution, all of the personal property of the Yegen Brothers can be sold to take care of the depositors.

3. February 9, 1928 The Billings Times Billings, MT
Article from The Billings Times, February 9, 1928

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Article Text

BUTTE BANK RECEIVER SUES LOCAL BRANCH Claiming that the Yegen Brothers bank of Billings owes the Yegen Brothers bank of Butte amounts which total more than $80,000, Harry Hanson, receiver of Yegen Brothers, bankers of Butte, has brought debt action in the district court this county against W. E. Dickson, receiver for Yegen Brothers, bankers Billings. The plaintiff claims that before the banks became insolvent, the Billings bank gave two promissory notes each to the National Bank of the Republic of Chicago. In the transactions that followed certain collateral of the Butte bank were sold by the Chicago bank and were credited upon the indebtedness of the Billings bank, the total amounting to 20 which, with interest, amounted to $36,735.35 on December 10, claimed. It is contended by the plaintiff that it was the understanding between the officers and directors of the two Yegen banks that the Butte bank was be credited with the amounts cured from but by oversight and inadvertance on the part of accountants and employes the records of the Billings bank do not show such intention. The Butte bank also claims that the Billings bank is indebted to the Butte bank for total of $14,980.26 with interest which is the balance due from the Billings bank to the Chicago bank and which the plaintiff has tained for valuable consideration with the sanction of the district court of the second judicial district. A further claim of $34,081.62 with interest is made for indebtedness on open accounts for moneys belonging to the Butte bank and not denced by notes. The defendant mits an indebtedness of the complaint says. The action was filed by Kremer, Sanders and Kremer of Butte.

4. February 11, 1932 The Billings Gazette Billings, MT
Article from The Billings Gazette, February 11, 1932

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Article Text

BANK RECEIVER PAYS Final Payment Brings Total to 26.45 Per Cent. Announcement was made Wednesday that final dividend of 11-5 per cent is ready for payment to the creditors of Yegen Brothers, bankers of Billings. The checks for payment to the individual creditors have been made out, according to Grover C. Cisel, receiver. and will be turned over on receipt of receiver's certifThe present payment is for total of $8,082.47 and is divided among 713 creditors of the bank. The payment makes total dividend payment of 26.45 per cent. The bank was closed in 1924. The bank was organized under state law and the receivership has been under the supervision of the district court.