First National Bank - Lingle, WY

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 11231
Charter Number: 11231
Start Date: January 15, 1924
Location: Lingle, Wyoming (42.136, -104.346)

Metadata

Model: gpt-5-mini
Short Digest: 82f07f29

Response Measures

None

Receivership Details

Depositor recovery rate: 22.5%
Date receivership started: 1924-03-19
Date receivership terminated: 1929-10-31
OCC cause of failure: Economic conditions
Share of assets assessed as good: 28.2%
Share of assets assessed as doubtful: 31.6%
Share of assets assessed as worthless: 40.2%

Description

Article (The Cody Enterprise, 1924-01-30) reports the First National Bank at Lingle failed to open its doors for business January 15th due to depleted reserves because its patrons are principally farmers and are having no income. No run is described and no receivership or permanent closure is mentioned; classification therefore is a suspension (temporary) with implied possibility of reopening.

Events (3)

1. August 30, 1918 Chartered

Source: historical_nic

2. January 15, 1924 Suspension

Cause: Local Shock
Cause Details: Depleted reserves because depositors (principally farmers) had no income/seasonal receipts to deposit, leaving the bank short of funds.
Newspaper Excerpt: The First National Bank at Lingle failed to open its doors for re- business January 15th, due to its depleted serve as its patrons are principally infarmers and they are having no at comes from which they can deposit this time.
Source: newspapers

3. March 19, 1924 Receivership

Source: historical_nic

Newspaper Articles (1)

1. January 30, 1924 The Cody Enterprise Cody, WY

Article from The Cody Enterprise, January 30, 1924

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Article Text

LATE NEWS From All Over WYOMING The first automobile passed through of Wind River canon, five miles south Thermopolis on Tuesday, Jan. 22. E. J. Booker, colored, shot and fatally wounded his paramour, Side Lillian Burns, also colored, on the South shot of Green River. The woman was three times. The First National Bank at Lingle failed to open its doors for re- business January 15th, due to its depleted serve as its patrons are principally infarmers and they are having no at comes from which they can deposit this time. Papers notifying Sheriff Frank be- R. Toy, of Sheridan county, to appear 18, fore Governor W. B. Ross on Feb. in to answer charges of misconduct by office, were served on the sheriff of M. C. Wachtel, State commissioner law enforcement. The Commercial Bank and to Trust Company of Douglas, Wyo., failed January open its doors for business 19th. The institution is a First consolidation of the Commercial and the National Bank of Douglas, the merger having gone into effect last month. The United States air mail A. service won a race with Death when Dr. E. by Lauzer of Rock Springs, was taken mail airplane to the ranch of William was Enos, 75 miles north, but Death wealthy not to be denied and Enos, stockman, died from blood arrival. poisoning ten hours after the physician's Frank M. Lee, of Marion, Ind., was instantly killed in the Ohio oil Laramie, field at McFadden, northwest of when a baler being hoisted from a well 3,200 feet deep, allowed to come too fast from the hole, struck the pul- broke ley at the top of the derrick, and the cable, falling on Lee's head killing him instantly. Quite a serious accident took place while John Irwin was hauling timbers. driven One of the logs having a spike the through it. in some way fell off drivwagon and lodged against him, Ing the spike into the calf of his leg. He was placed in the Long hospital at Shoshoni, and a number of stitches were taken in the wound. The number of scables infected sheep in Wyoming has been In reduced from 200,000 to 5,000 in two years. 1921 there were 77 herds in Converse, Sweetwater and Natrona counties that were afflicted with this disease. At the close of 1923, this number had been cut down to four herds. This State report was made when the held Board of Sheep Commissioners last Its annual meeting In Cheyenne week. Lander, Wyo., was chosen by the Republican state central for committee meeting in Cheyenne, as the place the holding of the party's state convention. Thermopolis contested with Lander for the designation, but failed to muster enough votes. The committee fixed the basis of delegate appor- 175 Honment as one delegate for every votes or major portion of that number cust for C. E. Winter, Republican candidate for Congress in 1922. Col. Richard W. Soper announces plans to double the capacity of