23213. Powell National Bank (Powell, WY)

View Charter #10565 on SPMC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10565
Charter Number: 10565
Start Date: March 21, 1924
Location: Powell, Wyoming (44.754, -108.757)

Metadata

Model: gpt-5-mini
Short Digest: 32790539

Response Measures

None

Receivership Details

Date receivership started: 1924-03-27
OCC cause of failure: Run

Description

The Powell National Bank voluntarily closed its doors in late March 1924 due to slow assets and a depleted reserve (no clear discrete run is described). A reorganization was discussed in April, but by late June a receiver (W. W. Duniway/Warren W. Duniway) had been appointed and foreclosure proceedings were recorded, indicating permanent closure and receivership.

Events (7)

1. June 20, 1914 Chartered

Source: historical_nic

2. March 21, 1924 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Voluntary closing by directors attributed to slow assets and a depleted reserve; deposits had fallen significantly in prior months.
Newspaper Excerpt: POWELL NATIONAL BANK FAILS TO OPEN DOORS LAST FRIDAY ... It closed voluntarily after a meeting of the directors with J. E. Dowling the president. ... slow assets and a depleted reserve were the cause of the closing.
Source: newspapers

3. March 27, 1924 Receivership

Source: historical_nic

4. April 9, 1924 Other

Newspaper Excerpt: POWELL NAT'L REORGANIZE SOON REPORT National Bank Examiner Gives Praise to Pres. J. E. Dowling ... A committee was appointed to negotiate with the directors and stockholders with a view to reorganization and resumption of business.
Source: newspapers

5. May 31, 1924 Restored To Solvency

Source: historical_nic

6. June 26, 1924 Receivership

Newspaper Excerpt: judgment and decree of foreclosure entered ... wherein Anna P. Glasgow, plaintiff, obtained judgment and decree of foreclosure against ... the Powell National Bank of Powell, Wyoming, a corporation, and Walter W. Duniway, receiver, which said judgment and decree of foreclosure was, on the 26th day of June, A. D. 1924, duly filed and recorded ...
Source: newspapers

7. February 2, 1929 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (8)

1. March 26, 1924 The Cody Enterprise Cody, WY

Article from The Cody Enterprise, March 26, 1924

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Article Text

POWELL NATIONAL BANK FAILS TO OPEN DOORS LAST FRIDAY Slow Assets and Depleted Reserve is Explanation -Many Depositors are Hard Hit by the Failure-Some Cody Folk Lose Savings The news that the Powell National Bank did not open its doors Friday morning came as a shock to Cody and to Powell folk living here who are depositors. It was unexpected, as of the two Powell banks the Powif ell National was believed to be the stronger. Death comes to your home the It closed voluntarily after a meetEnterprise wants to know it. ing of the directors with J. E. Dowling the president. Little can be You have a birth the Enterprise learned about the real condition of would like to know it. its affairs at present. The national bank examiners are You get married the Enterprise wants to know it. now going over the books and nothing definite will be known until they You have a party the Enterhave concluded their examination. prise wants to know it. An auditor for a commission firm who looked over the books said that the You have friends visiting you bank was not in as bad shape as at the Enterprise wants to know first reported. It is stated that slow it. assets and a depleted reserve were the cause of the closing. Mr. Dowling is highly regarded in the Powell community and many depositors have faith that it will come In fact we wish to print news out all right ultimately. that is news and ask you to send it in or telephone it to us, as It was a popular bank with a large we publish the news when it is following and many persons are news. caught who can ill afford to lose their savings. The Powell people have the sympathy of the Cody folk in this calamity, as they realize that that section has had more than its share of hardships and misfortunes. It has been rumored for some time SHOOTING STARR that both banks were having a hard struggle but it was believed they would weather the storm until local conditions became more prosperous. IS KNOCKED OUT The amount of $15,000 was rushed from Cody to the First National in anticipation of a run by nervous deVerne Spencer Puts Bad positors when the Powell National Man From Bald Ridge did not open.'

2. April 9, 1924 The Cody Enterprise Cody, WY

Article from The Cody Enterprise, April 9, 1924

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Article Text

POWELL NAT'L REORGANIZE SOON REPORT National Bank Examiner Gives Praise to Pres. J. E. Dowling There is reason to believe that the Powell National bank will be reorganized and doing business as usual within a few weeks. A meeting of the depositors has been held at which time it was urged by the national bank examiner, W. W. Dunaway, that the bank be not allowed to go into the hands of a receiver but that all connected with the institution should cooperate to prevent this taking place. A careful exaimnation of the books, he stated, showed that there was no hint of dishonesty on the part of its president, J. E. Dowling, or any official and he attributed a depleted reserve as the sole cause of the temporary closing of its doors. To the contrary, he gave great praise to Mr. Dowling and the directors for their action in voluntarily closing the bank instead of taking deposits and entailing further losses upon its patrons. He stated that the deposits had decreased $046,000 during the last three months and the liquidation of loans had been only $9,000 for that month which made it impossible for the bank to continue at that rate. A committee was appointed to negotiate with the directors and stockholders with a view to reorganization and resumption of business. The committee consists of the following persons: Earl Loomis, Ora Bever, D. E. Powers, T. L. Eddy of Elk Basin, Walter F. Kemp of Deaver, John Steck of Ralston, Marion Kittle of Powell, W. L. Sanders of Garland, and C. M. Jump.

3. July 2, 1924 Park County Herald Cody, WY

Article from Park County Herald, July 2, 1924

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Article Text

State of Wyoming, SS. County of Park. Under and by virtue of an execution and order of sale issued out of the above entitled Court on the 27th day of June, A. D. 1924, on a judgment and decree of foreclosure entered in the above entitled action on the 25th day of June, A. D. 1924, wherein Anna P. Glasgow, plaintiff, obtained judgment and decree of foreclosure against Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Walter W. Duniway, receiver, which said judgment and decree of foreclosure was, on the 26th day of June, A. D. 1924, duly filed and recorded in the office of the Clerk of the above entitled Court, whereby I am commanded to sell all of the right, title, equity and interest of the defendants, Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Warren W. Duniway, receiver, in and to that certain piece or parcel of land situated in Park county, Wyoming, and known and described as follows, to-wit: The East half of the northwest quarter (E½ NW4), known as Farm Unit "C,"

4. July 9, 1924 Park County Herald Cody, WY

Article from Park County Herald, July 9, 1924

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Article Text

5. July 16, 1924 Park County Herald Cody, WY

Article from Park County Herald, July 16, 1924

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Article Text

NOTICE OF SHERIFF'S SALE ON EXECUTION AND FORECLOSURE OF MORTGAGE In the District Court of Park County, Wyoming Anna P. Glasgow, Plaintiff, vs. Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Warren W. Duniway, Receiver, Defendants. State of Wyoming, SS. County of Park. Under and by virtue of an execution and order of sale issued out of the above entitled Court on the 27th day of June, A. D. 1924, on a judgment and decree of foreclosure entered in the above entitled action on the 25th day of June, A. D. 1924, wherein Anna P. Glasgow, plaintiff, obtained judgment and decree of foreclosure against Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Walter W. Duniway, receiver, which said judgment and decree of foreclosure was, on the 26th day of June, A. D. 1924, duly filed and recorded in the office of the Clerk of the above entitled Court, whereby I am commanded to sell all of the right, title, equity and interest of the defendants, Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Warren W. Duniway, receiver, in and to that certain piece or parcel of land situated in Park county, Wyoming, and known and described as follows, to-wit: The East half of the northwest quarter (E½ NW 1/4 known as Farm Unit "C,"

6. July 23, 1924 Park County Herald Cody, WY

Article from Park County Herald, July 23, 1924

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Article Text

NOTICE OF SHERIFF'S SALE ON EXECUTION AND FORECLOSURE OF MORTGAGE In the District Court of Park County, Wyoming Anna P. Glasgow, Plaintiff, vs. Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Warren W. Duniway, Receiver, Defendants. State of Wyeming, SS. County of Park. --Under and by virtue of an execution and order of sale issued out of the above entitled Court on the 27th day of June, A. D. 1924, on a judgment and decree of foreclosure entered in the above entitled action on the 25th day of June, A. D. 1924, wherein Anna P. Glasgow. plaintiff, obtained judgment and decree of foreclosure against Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Walter W. Duniway, receiver, which said judgment and decree of foreclosure was, on the 26th day of June, A. D. 1924, duly filed and recorded in the office of the Clerk of the above entitled Court, whereby I am commanded to sell all of the right, title, equity and interest of the defendants, Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Warren W. Duniway, receiver, in and to that certain piece or parcel of land situated in Park county, Wyoming, and known and described as follows, to-wit: The East half of the northwest quarter (E½ NW), known as Farm Unit "C,"

7. July 30, 1924 Park County Herald Cody, WY

Article from Park County Herald, July 30, 1924

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Article Text

NOTICE OF SHERIFF'S SALE ON EXECUTION AND FORECLOSURE OF MORTGAGE In the District Court of Park County, Wyoming Anna P. Glasgow, Plaintiff, vs. Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Warren W. Duniway, Receiver, Defendants. State of Wyeming, SS. County of Park. Under and by virtue of an execution and order of sale issued out of the above entitled Court on the 27th day of June, A. D. 1924, on a judgment and decree of foreclosure entered in the above entitled action on the 25th day of June, A. D. 1924, wherein Anna P. Glasgow, plaintiff, obtained judgment and decree of foreçlosure against Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Walter W. Duniway, receiver, which said judgment and decree of foreclosure was, on the 26th day of June, A. D. 1924, duly filed and recorded in the office of the Clerk of the above entitled Court, whereby I am commanded to sell all of the right, title, equity and interest of the defendants, Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Warren W. Duniway, receiver, in and to that certain piece or parcel of land situated in Park county, Wyoming, and known and described as follows, to-wit: The East half of the northwest quarter (E½ NW), known as Farm Unit "C,"

8. August 6, 1924 Park County Herald Cody, WY

Article from Park County Herald, August 6, 1924

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Article Text

NOTICE OF SHERIFF'S SALE ON EXECUTION AND FORECLOSURE OF MORTGAGE In the District Court of Park County, Wyoming Anna P. Glasgow, Plaintiff, vs. Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Warren W. Duniway, Receiver, Defendants. State of Wyoming, SS. County of Park. ------------------------Under and by virtue of an execution and order of sale issued out of the above entitled Court on the 27th day of June, A. D. 1924, on a judgment and decree of foreclosure entered in the above entitled action on the 25th day of June, A. D. 1924, wherein Anna P. Glasgow, plaintiff, obtained judgment and decree of foreclosure against Allen H. Glasgow, the Powell National Bank of 1 Powell, Wyoming, a corporation, and Walter W. Duniway, receiver, S which said judgment and decree of foreclosure was, on the 26th day of June, A. D. 1924, duly filed and recorded in the office of the Clerk J of the above entitled Court, whereby I am commanded to sell all of the right, title, equity and interest of the defendants, Allen H. Glasgow, the Powell National Bank of Powell, Wyoming, a corporation, and Warren W. Duniway, receiver, in and to that certain piece or par8 cel of land situated in Park county, Wyoming, and known and described y as follows, to-wit: The East half of the northwest quarter (E½ e NW), known as Farm Unit "C," e Lot Thirty-eight (38), Township n Fifty-six (56) North, Range Ninetyh nine (99) West of the Sixth Principal Meridian, Wyoming, together n with the improvements thereon and the water rights and appurtenances n thereto or in anywise belonging; in