2928. First National Bank (Emmetsburg, IA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
3337
Charter Number
3337
Start Date
May 2, 1885
Location
Emmetsburg, Iowa (43.113, -94.683)

Metadata

Model
gpt-5-mini
Short Digest
4c5a506e15cdaf8e

Response Measures

None

Description

Article (1885) reports Comptroller authorized First National Bank of Emmettsburg to begin business. A 1931 article identifies a receiver for the First National Bank of Emmetsburg, notes the bank was sold in April (1931) and is in liquidation with the receiver suing parties โ€” indicating the bank failed, was placed in receivership and sold. OCR shows variant spellings 'Emmettsburg'/'Emmetsburg'; corrected to Emmetsburg (IA). No explicit contemporaneous run is described, so this is classified as a suspension/closure with receivership.

Events (5)

1. April 23, 1885 Chartered
Source
historical_nic
2. May 2, 1885 Other
Newspaper Excerpt
THE Comptroller of the currency has authorized the First National Bank of Emmettsburg, Ia., to begin business with a capital of $50,000.
Source
newspapers
3. June 10, 1927 Voluntary Liquidation
Source
historical_nic
4. April 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent/failed and was sold in April (1931); depositors earlier waived 35% of deposits and a receiver was appointed.
Newspaper Excerpt
sale of the First National bank of Emmetsburg to the bank of in April
Source
newspapers
5. July 10, 1931 Receivership
Newspaper Excerpt
suit filed ... by counsel N. W. Irwin, receiver of the First National bank of Emmetsburg; the suit arose from the sale of the First National bank ... Irwin asks judgment ... the receiver also petitions for a prior lien trust fund created when depositors waived 35 per cent
Source
newspapers

Newspaper Articles (2)

Article from The Panola Weekly Star, May 2, 1885

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Article Text

MISCELLANEOUS. ADVICES received at Vienna from St. Petersburg political circles is to the effect that England must acknowledge the complete neutrality of Afghanistan and the extinction of English influence in the Ameer's country, or there will be war. INSTRUCTIONS have been sent to the French Embassador at Berlin to protest against General Von Moltke's recent excursions in different passes of the French frontier in the Rievera. TWENTY railroads, &with total capital stock of $275,289,000, have been placed in the hands of receivers since January 1st. THE Comptroller of the currency has authorized the First National Bank of Emmettsburg, Ia., to begin business with a capital of $50,000. THE attorney of the Southern Pacific Railroad Company in Washington has been directed to take an appeal from the decision of the Commissioner of the General Land Office, throwing open to set lement lands claimed by the company as part of its land grant. A PITTSBURGH (Pa.) man died on the 24th from over-exertion in roller-skating. THE ammunition factories in England are so pushed that they are unable tosupply all the demands. IN England military preparations continue, and the reserves are rapidly mobilizing. ACCORDING to reports received at Dallas, Tex., the losses by floods in the State are very large. IT is said that Egypt will apologize to France for the suppression of the French newspaper Bosphore Egyptien at Cairo. A LARGE number of the striking coal miners have returned to work in Pennsylvania at the operators' prices. THE Americans have taken possession of Panama. The insurgents were recalled to their barracks by a buzle sound. THE Supreme Court decision in the Virginia coupon cases has created intense feeling in the State. At Berlin the opinion is gathering ground that war between Englant and Russia will be declared before the end of the month. DURING the seven days ended the 24th there were 194 failures in the United States, as compared with 196 In the preceding week. ONE of the big meat-canning firms at Chicago states that they have sold meat to England at the firm's own prices. THE Legislature of Massachusetts is considering a bill providing for fortnight. ly payments to employes by manufacturIng companies. SIR WILLIAM ARMSTRONG'S works at Newcastle, England, have received a large order from Russia, but decline to fill it, and have notified the British Admiralty of the nature of the order. A SYNDICATE of London capitalists propose buying the large tracts of land in the kingdom and selling out in small lots on deferred payments. e On the 24th Trinity River, in Texas, was rising so rapidly that fears were entertained of a flood worse than that of 1864, 8 when so much damage was done. e For the week ended the 24th wool sales at Beston amounted to 4,610,033 pounds. ADVICES from Lowton received at New York on the 2465 said that the Joy plan for the reorganization of the Vabash had been adopted. ON the 24 a . conference of with officers of a number of the leading elties was held in New York to agree upon uniform measures to provent the introduetion of cholery


Article from The Des Moines Register, July 10, 1931

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Article Text

800 IOWANS NAMED IN SUIT Bank Receiver Asks Judgment at Ft. Dodge. (The Register's Iowa News Service.) FORT than 800 defendants are named in suit filed in United States district court here this week by counsel N. W. Irwin. receiver of the for National bank of Emmetsburg. The suit arose from the sale of the First National bank of Em metsburg to the bank of in April, Irwin asks judgment for $202.000 the First National bank. and liquidating agents and 800 depositors for notes and guarantees, given by the First National bank when its obligations were assumed by the National bank. The receiver also petitions for a*prior lien trust fund created by the First National bank when its depositors waived 35 per cent of their deposits a year fore the sale.