3037. State Savings Bank (Lamoni, IA)

Bank Information

Episode Type
Suspension β†’ Closure
Bank Type
savings bank
Start Date
January 22, 1933
Location
Lamoni, Iowa (40.623, -93.934)

Metadata

Model
gpt-5-mini
Short Digest
7f6f20062e08284c

Response Measures

None

Description

Articles (Jan 22–Feb 3, 1933) describe the Lamoni State Savings Bank as closed, with a receiver (William Zunkel) handling mortgage sales. Farmers interfered with a chattel-mortgage sale; the state superintendent of banking and the receiver halted/oversaw actions. No bank run is described; the bank is in receivership (closure).

Events (1)

1. January 22, 1933 Suspension
Cause
Government Action
Cause Details
Bank is closed and in receivership; state superintendent of banking and receiver Zunkel involved in halting sales and administering affairs.
Newspaper Excerpt
A mortgage against Gilliland is held by the receiver of the Lamoni State Savings bank... William Zunkel, receiver for the bank, went to the farm in an attempt to halt the sale.
Source
newspapers

Newspaper Articles (5)

Article from The Des Moines Register, January 22, 1933

Click image to open full size in new tab

Article Text

WATER METER 10 MEN FORCE IOWAN GIVE ILLEGAL, City Solicitor Force Down to Cost Here. In third city hall move to force down the cost of City Solicitor Van Liew Saturday held $2 yearly service charge on meters to be illegal. The city council, which already has urged water rate cut, will receive the opinion from the licitor Monday morning It was filed Saturday and copy was delivered to Charles Denman. water manager, who transmit it to the board of trustees. Makes No Comment. Manager Denman would make comment on the latest city move other than to say "didn't know what Van Liew was talking about" when he referred to the $2 charge. Mr. Denman declared he was in position to comment for reason that the matter is one be considered by the water Nearly $5,000 Meters. There are little less than 000 meters used in the city Residential water users pay 50-cent advance service charge quarterly, which, along with the advance minimum charge of $1 quarter noted on the bill. The larger metered business tablishments pay $4 yearly service charge. Tells of Complaints. Van Liew introduced his opinion by declaring the city had receiyed "numerous complaints" about the advance service charge. He rejected city council responsibility for operation of the water works. The solicitor cited statutes which, he said, limited the right the board to fix rates so that they would produce (1) interest on the outstanding indebtedness cost of operating expenses creation of sinking fund maintenance of tion fund and (5) surplus sufficient to provide working capital of not to exceed $125,000. Opinion on Surplus. Under the fifth classification. the board, Van Liew permitted to absorb all surplus excess of $50,000 by reducing water rates to consumers. The board must. the opinion says, absorb all such surplus in excess $125,000. Van Liew holds the board could eliminate the service charge and still maintain working capital of $50,000. Stand on Leases. In addition. the city solicitor held the board would exceed the law by giving free water service by differentiating between The law also states, Van Liew wrote, that the waterworks may not lease any part of its establishment except on action of the city council, approved by the waterworks trustees. Near Le Mars Surrenders Claim Against Tenant. It was revealed at Le Mars Saturday that group of farmers forced Louis Schafer, himself farmer, give up rent notes held against tenant Friday. Mrs. Schafer said 10 men, sev. eral of whom Schafer recognized, went to the farm Friday and said: "Give us those notes or there'll hundred men coming later get them." Gives Up Notes. Schafer gave them the notes for this year's rent and between $600 and $700 in notes from last year's rent. "But do this," Mrs. Schafer said her husband told the men, won't be able to meet my own debts the first of March." The 10 men suggested then, Mrs Schafer said, that he join their band in fighting foreclosures, and that they would see that the notes against him were not collected. Wouldn't Do That. "He wouldn't do that." Mrs. Schafer "We'd our farm first. that's highway robbery Asked if Schafer planned prosecution of the 10 who demanded the Mrs. Schafer said he did not. "He is afraid she said. "He knew who some of them were and has since learned the names the others." Tenant. Schafer's tenant is Matt Bode, who lives on farm six miles away. The rented farm 240 acres, Mrs. Schafer said, and the farm on which the Schafers live 50 acres. Meanwhile other action by farmwas reported in Iowa day. 50 Approximately 50 farmers from Clearfield and Mount Ayr chartered bus and went the farm H. Gilliland. five miles west Lamoni, where they took charge farm sale. mortgage against Gilliland held by the receiver of the Lamoni State Savings bank. $200 team of horses sold for $4 wagon for 25 cows for $1 each and brood sows for 75 cents each. The sale brought total of approximately $35. Receiver. William Zunkel, receiver for the bank, went to the farm in an tempt to halt the but farmers forced the auctioneer sell the goods. In Des Moines. Andrew state superintendent of banking. said the sale had been ordered halted both by his office and the receiver of the Lamoni bank. Mr. Andrew said the sale scheduled several weeks ago by agreement between Gilliland and the receiver of the bank. He said that in such cases, the farmer agrees with the receiver to turn the proceeds over to the bank ceiver apply on the mortgage. "Service Charge." The farmer holds the sale him"The $2 charge for meter Mr. Andrew emphasized, by has been changed to the term agreement with the bank receiver Van In this he said, the sale service "It seems to that this not foreclosure sale, and me ice which in held by the bank receivership charge, meter rental discriminates He said that Zunkel went to the tween the user and the farm Saturday afternoon on learnuser in violation of the law ing that the farmers planned large $2 added to hold the sale and attempted charge small the cost of water but was brushed him much than $2 added In Plymouth county, Mrs. Marmore to the garet Kass visited by delegalarge user. tion of farmers and forced to make Sees Discrimination. settlement favorable to the ten"This is discrimination on her farm. against the small user. The board water works trustees is without any authority to rent or lease any part of the waterworks system. This includes water me- therefore conclude that charging water rental is an improper exercise the leasing authority of the waterworks company 'Rates Must Be Equal." "If it is called charge', it is discriminatory and in violation of the law, and further it is an improper exercise of the authority of the waterworks board to fix rates which will produce sufficient revenue for the operation of the water plant. 'Rates must be equal between each class. Under the present system making service charge, or rental charge, the small user pays more in the same classification than the large Call on Bankers. Officials of the Yates bank Kingsley, county, said delegation of farmers called an amicable settlement was made with debtor. Valentine Brauch of he has made settlements in several farm debt cases without pressure from the committee which has bΓ©en calling on creditors in Plymouth county. In Oskaloosa Sheriff Frank Hook postponed the sale of five foreclosed Mahaska county properties when no bids were received from the handful of persons who heard him read the descriptions.


Article from Bethany Republican-Clipper, January 25, 1933

Click image to open full size in new tab

Article Text

Invading Truckload of Men Take Charge, Clerk Leaves, After Wagon and Rack Sell for Only $1.50 The Iowa farmer trouble over mort gage sales about close BethSaturday could without tering Missouri, when invading truckload Farm from near Mt. Ayr Clearfield took charge of three miles west Lamoni, clerked and tallied the total made bank and then turned the prop erty which been sold, back to original owner. Hogs, sheep, calves, cattle, horses, mules and farm implements according reports which have been received Bethany tained from men attended the The sale was under chattel mort held by the closed State Savings Lamoni. The property belonged ant farm three miles west moni, just over the line Ringgold county, which Ayr the counseat. discharged for reported to have been rather large was being conducted under direction Zunkel, charge the bank's fairs, acting clerk the auction was to begin early the large crowd having hinted there might developments About o'clock truck filled with men have been Farm Bureau from Ayr and Clearfield driven lane leading from public road the spot was place. vented possible removal of The more men in the truck scended and called Zunkel aside for which lasted for time. Others did not learn what this talk, but that some kind of an agreement had between the and the bank's The began about being the first which bids The best was $1.50, and the wagon sold. Zunkel declined continue the and to find that could get only automobile out the he to up the ing the road, apparently intending trudge back Lamoni The which he group stopped him before conferred reached road, there another length held conference truck Following moved, and Zunkel drove away then proceeded with two other acting clerks. Implelivestock and ments rapid auction sold being completed in short length With the bidding done, the clerks the to the men cording the where present turned Zunkel the satisfaction the bank's legal equipment the farm turned back to Gilliland. was


Article from The Hopkins Journal, January 26, 1933

Click image to open full size in new tab

Article Text

Ten Men Take Rent Notes by Force The following is taken from last day's Des Moines Register: was revealed at Le Mars Saturday that group of farmers forced Louis Schafer, himself farmer, to give notes he held against tenant Friday. Mrs. Schafer said 10 men, several whom Schafer recognized, went to the farm Friday and said: "Give us those notes or there'll hundred men coming later to them." Schafer them the notes for and between $600 and $700 Mrs. Shafer husband told the men, meet debts the first March." The 10 men suggested then, Mrs. said, that their band fighting foreclosures. and that they see that the notes were not lected. "He wouldn't Mrs. Schafer our farm first. Why, robbery." Asked Schafer planned prosecution the 10 demanded the notes, Mrs. Schafer said he did afraid she said. "He knew who some of them were and has since learned the names of the others." Schafer's tenant Matt Bode, who lives on farm six miles away. The rented farm 240 acres, Mrs. Schafer said, and the farm on which the Schafers live acres. Meanwhile other action by farmers was reported in Iowa Saturday. Approximately 50 farmers from Clearfield and Mount Ayr chartered bus and went to the farm of H. Gilliland, five miles west of Lamoni, where they took charge of farm sale. A mortgage against Gilliand is held by the receiver of the Lamoni State Savings bank. $200 team of horses sold for wagon for 25 cents, cows for $1 each and brood SOWS for 75c each. The sale brought total of proximately $35. William Zunkel, receiver for the bank went to the farm in an attempt to halt the sale, but the farmers forced the auctioneer to sell the goods. In Des Moines, Andrew, state superintendent of banking, said the had been ordered halted both by his office and by the receiver of the Lamoni bank. Mr. Andrew said the sale was scheduled several weeks ago by agreement between Gilliland and the receiver of the bank. He said that in such cases, the farmer agrees with the receiver turn the proceeds over to the bank ceiver to apply on the mortgage. The farmer holds the sale himself, Mr. Andrew emphasized, by agreement with the bank receiver. In this instance, he said, the sale not foreclosure sale, and not held by the bank receiverhip. He said that Zunkel went to the farm Saturday afternoon on learning that the farmers planned to hold the sale and attemepted to halt it, but was brushed aside. In Plymouth county, Mrs. Margaret Kass was visited by delegation farmers and forced to make settlement fvorable to the tenant on her farm. Officials of the Yates bank at Kingsley, Plymouth county, said delegation of farmers called and an amicable settlement was made with debtor. Valentine Brauch of Le Mars said he has made settlements in several farm debt cases without pressure from the committee which has been calling on creditors in Plymouth county. In Oskaloosa, Sheriff Frank Hook postponed the sale of five foreclosed Mahaska county properties when no bids were received from the handful of persons who heard him read the descriptions. patient for you, docvictim of congestion. of the lungs? of the traffic.


Article from The Gallatin Democrat, January 31, 1933

Click image to open full size in new tab

Article Text

STRIKING TOOK CHARGE OF SALE AT LAMONI, IOWA At Chattel Mortgage Auction, Clerk Leaves After Wagon Rack Sell For Only The Iowa farmer trouble over sales got about close Bethany Saturday could withwhen an inof Farm vading from near Mt. Ayr and Clearfield took charge of sale three miles west and tallied the total bids at made settlement with bank then turned the property which been sold, back original the Bethany Republicansays Clipper. Hogs, sheep, calves, cattle, horses, farm implements according to reports which the have received Bethany obtained from men who attended the under chattel The sale was held by the closed State mortgage Bank, Lamoni. The Savings sonal property sold to Gilliland, tenant farm ram miles Lamoni, just three the in county, of over which Mt. Ayr the county The for ported to have been rather large The sale was being conducted under the direction Mr. Zunkel, charge closing up the who in bank's affairs, he was acting clerk the auction was to begin early in afternoon, and large crowd present, having been hinted there might be unusual developments. About o'clock truck filled with men said to have from Ayr and Clearmembers field was down private leading public road lane where the auotion the spot place. was parked in such that prevented the way The thirty or more men the truck called Zunkel aside for conference, which lasted Others did not learn for some what were made at this proposals talk, but was the common understanding that some kind had been reached agreement the and the bank's retween group, The sale began about o'clock, with wagon and rack being the first which upon The best was and asked. the wagon and rack were ansold. Zunkel then declined to continue clerk of the and started find that he could his of the lane. Abandoning to walk the lane to the road, trudge back Lamoni. tending The same group with which conferred stopped him before had he reached the road and there another conference some length held. Following this, stated, the truck was moved, and Zunkel drove away in car. The sale then with two other men acting as Implements and were and the auotion completed in short length With the bidding done, the clerks of the sale Lamoni, cording the present at the farm, men where the turned over Zunkel as legal satisfaction of the bank's debt, the equipment turned back to Gillithe farm was land.


Article from The Leader, February 3, 1933

Click image to open full size in new tab

Article Text

Farmers Hold Sale Prices Down. The Iowa farmer trouble over mortabout close to sales got as gage it could without Bethany Saturday as when invading Missouri, an entering Bureau men from truckload of Farm Clearfield took Mt. Ayr and near charge of sale three miles west of tallied the clerked it and Lamoni, made settlement total bids at $64.00, with bank and then turned the propback to its had been sold, which erty original owner. cattle, horses, sheep, calves, Hogs, were in and farm implements mules the sale, according to reports which Bethany as obbeen received at have attended the men who tained from sale. The sale was under chattel mortState Savings the closed held by gage The personal propbank, Lamoni. Gilliland, sold belonged erty west of three miles tenant of farm line in Ringthe Lamoni, just over is the which Mt. Ayr county, of gold discharged for The debt county seat. been rather to have $64 is reported large one. conducted unsale was being The Zunkel, who of Mr. the direction der the bank's of closing up in charge clerk of acting as and he was affairs, the sale. in to begin The auction was crowd was and large the afternoon, hinted there having been present, might be unusual developments. filled with o'clock truck About Farm Bureau have been men said to and Clearfield from Mt. Ayr members lane leaddown private was driven the spot road to from public ing where the auction was to take place that in such way It was parked removel of the possible prevented automobile. Zunkel's the truck men in The 30 or more Zunkel aside and called descended lasted for which conference, for did not learn time. Others some at this made were what proposals underthe common talk. but was kind of an agreethat some standing between the been reached ment had group, and the bank's receiver. o'clock. began about The sale the rack being and with wagon bids were which first articles upon and best bid was asked. The announced and rack the wagon sold. continue declined to Zunkel then started to and of the clerk he could not find that only to leave. the lane automobile out get to walk up he started Abandoning road. apparently lane to the the to Lamoni. back to trudge tending which he had with same group The before he him stopped conferred another and there the road, reached length conference the truck is stated. this. Following drove away and Zunkel car. with two then proceeded The Impleas clerks. acting other and put up and livestock ments auction the rapid succession, sold length of short completed in being time. the the bidding With proceeded to of the sale of the cording farm. where the present to Zunkel turned the bank's of the satisfaction legal of the farm and the equipment debt. turned back February Jury Panel Drawn. The county court, in session this week to pick the petit jury for the term of circuit court next month. handled other details of business as follows: The $1,000 bond of George E. Gelvin, school attendance officer, was approved. Mr. Gelvin was appointed some time in December by Frank Smith, county superintendent schools, and the appointment was confirmed by the court. The attendance officer is appointed by the counthe salary formsuperintendent; $200 but the court erly was year, that the official shall be has ruled at the rate of day plus paid mileage for each day actively engaged in service. sold 1,012 acres of bar The court land at $1.85 acre to number of per buyers. The court also approved the appointments of W. Laukemper constable for Lewis township. deputy and Arthur Grube as deputy county surveyor, the latter recommended by Gillis. No bonds are required in these two offices. The petit jury consists of the following: Siekman. Crawford, George Burge, Gaskill, W. Swope. Riemold, Ed Gibson, John Smith. Schaeffer, A. Lyons. Sahlin, Abe Pullen. Yetter. E. Radley, Will Moore, John Moore. Bayha, Hugh Richards. Scott. Griser. Markt. Cook, Henry Nordloh, Herman Ideker. The persons named below are desalternate petit jurors and as recorded and numbered conseare twenty-four incutively from one to Stadalman. Bickel. Wilson, Ira Dunham, Boyles. Harold Lisle. Huiatt, Dale McIntyre. Waggoner, Thos. the final examination, pupil must Meyer. full in the class Hud- spend two years Black, Clay and pass satisfactorily the quarterly gins. examinations each quarter. Shull. Certificates of attainment will be Noellsch, Guy Ensor, issued all pupils who pass examinaSam Schulte. and make satisRoy tions satisfactorily factory class grades. Shutts. The manner of giving the final Ball. will be amination for class pupils Ramsey. Boswell. announced and certain places in the W. Strick- county will be provided where all Troupe, for the examination may ler. Andy Sentinel. eligible