National Bank (Ashland, NE)

Episode Information

Episode Type
Suspension → Closure
Start Date
March 4, 1933
Location
Ashland, Nebraska (41.039, -96.368)
Bank Type
national
Charter Number
2921

Metadata

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1934-07-16
Date receivership terminated
1937-09-13
Share of assets assessed as good
63.0%
Share of assets assessed as doubtful
20.9%
Share of assets assessed as worthless
16.1%

Events (5)

1. April 10, 1883 Chartered
Source
historical_nic
2. March 4, 1933 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank described as insolvent leading to suspension of business
Newspaper Excerpt
The bank was suspended March 4, 1933
Source
newspapers
3. July 16, 1934 Receivership
Newspaper Excerpt
placed in receivership July 16, 1934
Source
newspapers
4. July 16, 1934 Receivership
Source
historical_nic
5. September 11, 1935 Other
Newspaper Excerpt
second (final) dividend 30 per cent paid Sept. 11, 1935; Total dividends paid 100 per cent, $179,969.41
Source
newspapers

Newspaper Articles (12)

Article Text

Bank Sale Contract Approval Requested Lincoln, Neb., March 27 (AP).—J. C. Railsback, conservator for the defunct National Bank of Ashland, today asked the federal court here to approve a contract for sale to the Citizens National bank of Ashland of assets of the closed institution for $152,999. Its form was approved, but the court did not act on the amounts. The Citizens National agrees to pay 70 per cent of unsecured liabilities and liabilities not entitled to priority, totaling $122,667. The contract calls for the purchase by the Citizens National of secured liabilities of the old bank at 100 per cent value, totaling $30,332.


Article Text

DEPOSITORS PAID UP. ASHLAND, Neb.—Receiver P. L. Hall of the National bank of Ashland announced Wednesday that the comptroller of the currency has authorized a second final payment of 30 percent to the depositors who have proven claims against the bank. This makes a total of 100 percent paid to depositors, a first payment of 70 percent having previously been paid. The bank was suspended March 4, 1933, and placed in receivership July 16, 1934. The total paid out in receivership dividends amounts to $179,969.41. MATCH SETS OFF FUMES KEARNEY, Neb. (UP). Mrs. Kenneth Cash struck a match to locate the stop to a gasoline can in the garage of her home. Fumes from an empty gasoline can exploded and she suffered severe burns about the face and hands.


Article Text

FELTON SAYS AID IS TO BE GIVEN FARMER But Help Will Not Be In Form of Relief Dole. Lincoln, Sept. 19.—D. F. Felton, state WPA administrator, today was notified that drouth harried farmers of Nebraska will be assisted by the rural resettlement administration. He had sought assistance for the farmers from Harry L. Hopkins, federal WPA administrator. "Nebraska farmers do not want a dole, but because of crop failures they need and should be given relief in some form," Felton said. The Nebraska WPA administrator made a personal investigation of conditions in drouth districts and then recommended that some method be adopted which would supply farmers with employment without the necessity of going on relief roles. "I feel that when it is necessary for farmers to go on relief doles, a breakdown of the morale of our people is launched," Felton said. "If you take away the self respect of these proud, industrious citizens, who through no fault of their own face these circumstances, in my opinion you are taking away a heritage many will never regain. Their plight is caused by the elements, not lack of ability or industry. "Traditions of fortitude, bravery and industry left by the pioneers, who visioned a great agricultural empire in Nebraska, are being carried on today. Farmers, after facing four years of drouth and with their resources exhausted and not enough food available to carry their families through the winter, are nevertheless busy in the fields plowing for next year's crop. This spirit cannot and must not be broken." BANK PAYS 100 PER CENT. Ashland, Neb., Sept. 19.—P. L. Hall, receiver of the National bank of Ashland, today announced the comptroller of currency has authorized a second and final payment of 30 per cent to depositors of the bank, making a total of 100 per cent returned. The bank suspended business March 4, 1933 and went into receivership July 16, 1934. The total paid out in receivership dividends amounts to $179,969. APPROVE $10,000 BONDS. Loomis, Neb., Sept. 19.—Plans were being made today for carrying out a proposal for a new water plant here, as the result of a special election in which $10,000 bonds for the project were approved 100 to 20. The election was held last Tuesday. The village has applied to the PWA for a loan to assist in financing the improvement.


Article Text

Ashland Bank Pays Out at 100 Per Cent Ashland, Neb., Sept. 19 (AP).—P. L. Hall, receiver of the National bank of Ashland, today announced the comptroller of currency has authorized a second and final payment of 30 per cent to depositors of the bank, making a total of one hundred per cent returned. The bank suspended business March 4, 1933 and went into receivership July 16, 1934. The total paid out in receivership dividends amounts to $179,969.


Article Text

Out at 100 Per Cent Ashland, Neb., Sept. 19 (AP).—P. L. Hall, receiver of the National bank of Ashland, today announced the comptroller of currency has authorized a second and final payment of 30 per cent to depositors of the bank, making a total of one hundred per cent returned. The bank suspended business March 4, 1933 and went into receivership July 16, 1934. The total paid out in receivership dividends amounts to $179,969.


Article Text

To Donate Armory Site. SEWARD.—At a meeting of the city council, a vote was taken favoring the donating of a site for a new armory for the Nebraska national guard, so that an armory may be built with the $25,000 WPA fund promised if the real estate be made available. Former Deputy Clerk Dies. MADISON.—Margaret Ellen Murphy, only child of Mr. and Mrs. John H. Murphy, died after an operation in Omaha, Tuesday. Solemn requiem will be held at St. Leonard's church Saturday morning. Margaret was born and grew to womanhood here. Eight years ago she was deputy clerk of Madison county, and since has served as secretary to John H. Cathey, assistant regional counsel for Home Owners Loan corporation, Omaha. Bank Pays 100 Percent. ASHLAND.—Payment of a final 30 percent to depositors of the National bank of Ashland has been authorized, to bring repayments to 100 percent, P. L. Hall, receiver, announced Thursday. The bank was suspended March 4, 1933, and placed in receivership July 16, 1934. The total paid out in dividends amounts to $179,969.41.


Article Text

Full Payment Made By Ashland National (Special to The Star.) ASHLAND, Neb., Sept. 20 — P. L. Hall, receiver for the National Bank of Ashland, has been authorized by the comptroller of the currency in Washington to make final payment of 30 per cent to the depositors of that institution. This makes full payment of 100 per cent. The bank was suspended March 4, 1933, and placed in receivership July 16, 1934. The total paid depositors was $179,969.41. Mr. Hall stated that the Central City National bank, still in process of liquidation, has paid 95 per cent and the First National bank at Adams, also still in liquidation, has paid 82 1/2 per cent.


Article Text

FALLS CITY.—Mrs. Lucinda E. Hern, 61, died at Abilene, Kas., according to word received here. Surviving are her husband, two sons and two daughters. To Donate Armory Site. SEWARD.—At a meeting of the city council, a vote was taken favoring the donating of a site for a new armory for the Nebraska national guard, so that an armory may be built with the $25,000 WPA fund promised if the real estate be made available. Former Deputy Clerk Dies. MADISON.—Margaret Ellen Murphy, only child of Mr. and Mrs. John H. Murphy, died after an operation in Omaha, Tuesday. Solemn requiem will be held at St. Leonard's church Saturday morning. Margaret was born and grew to womanhood here. Eight years ago she was deputy clerk of Madison county, and since has served as secretary to John H. Cathey, assistant regional counsel for Home Owners Loan corporation, Omaha. Bank Pays 100 Percent. ASHLAND.—Payment of a final 30 percent to depositors of the National bank of Ashland has been authorized, to bring repayments to 100 percent, P. L. Hall, receiver, announced Thursday. The bank was suspended March 4, 1933, and placed in receivership July 16, 1934. The total paid out in dividends amounts to $179,969.41. Farmer Badly Cut. ST. EDWARD.—Henry Jensen, farmer, was gashed on the leg when a part of the knives of an ensilage cutter broke off and was blown thru the silage pipe striking him as he was tramping down the silage at the top of a tall silo.


Article Text

P. L. Hall, receiver, reports upon three banks—National Bank of Ashland, Central City National Bank and First National Bank of Adams—as follows: The National Bank of Ashland, insolvent, Ashland, Nebr., was suspended March 4, 1933, and was placed in receivership July 16, 1934, and has paid dividends to depositors to date totaling 100 percent, amounting to $179,969.41. The bank is still in liquidation. The Central City National Bank, Central City, Nebraska, insolvent, was suspended March 4, 1933 and placed in receivership November 1, 1933, and has paid in dividends to depositors to date totaling 95 per cent, amounting to $154,627.10. The bank is still in process of liquidation. The First National Bank of Adams, Nebr., insolvent, was suspended March 4, 1933 and placed in receivership September 12, 1933, and has paid in dividends to depositors totaling 82½ percent, amounting to $106,138.28. The bank is still in process of liquidation. In conjunction Mr. Hall honors J. F. T. O'Connor upon his effective accomplishments since he took office in March, 1933, under the most trying conditions that have ever confronted a Comptroller of the Currency. The press release issued by the Comptroller on August 17, 1935, reveals deposits in 5,431 active national banks aggregating $22,518,541,000, as of June 29, 1935. This represents an increase since June 30, 1933, of $5,744,426,000 and established a record which has never been approached in the history of the national banking system. The total deposits in active national banks is now fast approaching the total reported for December 31, 1928, on which date 7,635 active national banks reported deposits aggregating $24,347,380,000. This was the highest total reported in the history of the system and exceeds the present figures by only $1,828,839,000. The man directly responsible for this remarkable record of recovery was the able, efficient and energetic Comptroller from California.


Article Text

BANK PAYS 100 PERCENT Ashland.—Payment of a final 30 percent to depositors of the National bank of Ashland has been authorized to bring repayments to 100 percent. P. L. Hall, receiver, announced Thursday. The bank was suspended March 4, 1933, and placed in receivership July 16, 1934. The total paid out in dividends amounts to $179,969.41.


Article Text

State News Chase county voters will be asked at an election next month to approve a $16,500 bond issue to assist in financing a county high school building. PWA funds have been asked to complete the cost of the $30,0000 building. Four-H club members who sold baby beeves shown at the Nebraska state fair this year got a total of $4,972 for the animals, or an average of $103 a head. The average was $12.11 a hundred, about $2 higher than the top of the Omaha market that day. The annual Nebraska State Teachers Association district conventions, scheduled for October 23-26, will bring to the state many distinguished personalities. Convention cities this year are: Lincoln, Omaha, Norfolk, Hastings, Holdrege, and Sidney. Plans were being made for carrying out a proposal for a new water plant at Loomis, as the result of a special election in which $10,000 bonds for the project were approved 100 to 20. The election was held September 17. The village has applied to the PWA for a loan to assist in financing the improvement. The historical room of the Hastings museum contains what is believed to be the first piano brought to Clay county. The "Model B, by Simpson & Co.," was presented to the museum by Miss Lora Meyers of Sutton. It is four feet long, four feet high and two feet wide, and its keyboard has a range of only five octaves. The proposal for the construction of a new municipal airport in Grand Island, as a PWA project has the approval of the bureau of aeronautics of the department of commerce, city officials have been advised. The airport, according to plans, will cover a section of land and include four full length hard surfaced runways, a hangar and administration building. A. E. Anderson, state and federal agricultural statistician, recently reported the August ratio of prices farmers receive to prices farmers pay for non-farm products stood at 84 per cent, the highest since 199. He said latest reports reaching his office revealed the index was 84 per cent, three points below the highest ratio of the last twelve months, but above any other August figure since 1929. P. L. Hall, receiver of the National bank of Ashland, recently announced the comptroller of currency has authorized a second and final payment of 30 per cent to depositors of the bank, making a total of 100 per cent returned. The bank suspended business March 4, 1933 and went into receivership July 16, 1934. The total paid out in receivership dividends amounts to $179,969. The state board of control recently announced bids had been let for food and meat for all state institutions. The contracts are for the quarter beginning October 1. In several instances the bids were considerably above those of a year ago, particularly in pork, where increases have been phenomenal. The bid on bacon was $26.43 a hundred pounds, as compared with $8.77 in 1934. Contract for ham was awarded at $22.70 as compared with $7.30 in 1934. Uncle Sam's man-made forest, the western shelter belt area, will be enlarged by more than 12 million trees within the next year. Shelter-belt officials in Oklahoma, Kansas, Nebraska and the Dakotas already have made plans to set out millions of seedlings next year to add to the miniature forests now growing under the federal plan to aid rainfall and climate in the plains states. The Nebraska 1936 program calls for planting of four million trees in strips across the state. Land purchases are to be complete by October 15. This year 1,250,000 trees were set out in the state. A loan for 50 thousand dollars was secured recently by the Nebraska Certified Potato Growers' association co-operative at Alliance. The money will be used by the association to finance certified growers for harvesting their potato crops this fall, and was obtained from the Omaha Bank for Co-operatives. About three hundred certified growers, members of the association, with approximately nine thousand acres of potatoes, will be eligible to get loans. The harvest will begin about October 1. It is believed, however, that a large percentage of these growers will not need to borrow money in order to pay harvest expenses. Charles A. Bowers, secretary of the Nebraska State Teachers' association, reports slight but steady improvement in the financial condition of schools in the state. In a survey recently completed, Bowers drew three major conclusions with regard to the school year which has just begun. 1—Finance—Slight improvement. 2—Program—Elimination ceased, replacement and some expansion noticeable. 3—Personnel—Less harassing criticism, working conditions generally better, tenure of administrators still below normal. David Bryant chapter of D. A. R. will sponsor setting of a marker on the Nebraska City cutoff of the old Oregon trail. Regents of Nebraska chapters have been invited to attend. The marker will be placed on Highway 76 at a point seven miles south of Wahoo. A. E. Sheldon of Lincoln, president of the State Historical society, and Mrs. Sheldon, president of the Native Sons' and Daughters' society of Nebraska, will be guest speakers, together with the state regent, Mrs. Grant W. Baker of Omaha.


Article Text

The National Bank of Ashland, Nebraska, (Insolvent), suspended March 4, 1933; placed in receivership July 16, 1934; First dividend 70 per cent paid while restricted; second (final) dividend 30 per cent paid Sept. 11, 1935. Total dividends paid 100 per cent, $179,969.41. The First Nat'l Bank of Adams, Nebraska, (Insolvent). Suspended March 4, 1933; placed in receivership September 12, 1933; dividends paid of 82 1/2 per cent amounting to $106,138.28. SAUNDERS COUNTY RECEIVES CASH FROM AK-SAR-BEN Saunders county has benefitted financially to a considerable extent this year through Ak Sar Ben's activities in Omaha, a study of the records of the Live Stock Show, and of this year's pari-mutuel race meet reveals. The total amount of Ak Sar Ben cash benefits to counties in Nebraska and Iowa reached a new high this year, and is expected to run considerably higher in the future, ac-