Simmons & Company (Osceola, IA)

Episode Information

Episode UID
265478891572
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
26547889 hash
Start Date
December 10, 1930
Location
Osceola, Iowa (41.034, -93.765)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d56ef7419b0734fd

Response Measures

None

Description

Closed simultaneously with the collapse of Murray State Bank as part of a regional wave of failures.

Events (1)
1. December 10, 1930 Suspension
Cause
Local Banks
Cause Details
Closed simultaneously with the collapse of the Murray State Bank and amid a run of regional bank failures.
Newspaper Excerpt
Simmons & Co., pioneer Osceola bank with deposits of more than $1,000,000, closed its doors today
Source
newspapers

Newspaper Articles (2)
1. December 11, 1930 The Duluth News Tribune Duluth, MN
Article from The Duluth News Tribune, December 11, 1930

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Article Text

Two More Banks in Iowa Close; Note Eight Failures DES MOINES, IOWA, Dec. 10. (UP) Iowa banks closed today. bringing to eight the number of failures within five days. Simmons & Co., ploneer Osceola bank with deposits of more than $1,000,000. closed its doors today simultaneously with the collapse of the Murray State bank at Mursubsidiary, with deposits of $479,000. The run of bank failures started Saturday when two Sioux City and one Des Moines bank ceased operations. Monday at Leeds and Correctionville, subsidiaries of the defunct Sioux City banks closed. Yesterday the Turin Savings bank at Turin, Iowa, closed.

2. December 11, 1930 St. Cloud Times Saint Cloud, MN
Article from St. Cloud Times, December 11, 1930

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Article Text

Two More lowa Banks Close Doors Yesterday Des Moines, Iowa, Dec. Two Iowa banks closed Wednesday, bringing to eight the number of within five days. Simmons and Co., pioneer Osceola, Iowa, bank with deposits of more than $1,000,000. closed its doors simultaneously with the collapse the Murray State bank Murray. Iowa, subsidiary deposits of $479,000. The run of bank failures started Saturday when two Sioux City and Des Moines bank ceased operations. Monday Leeds and Correctionville subsidiaries of the defunct Sioux City banks closed. Tuesday the Turin Savings bank at Turin, Iowa, closed.