3072. Lu Verne State Bank (Lu Verne, IA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
February 1, 1933*
Location
Lu Verne, Iowa (42.908, -94.074)

Metadata

Model
gpt-5-mini
Short Digest
ad5bdf8863e99a8c

Response Measures

None

Description

Articles indicate the Lu Verne State Bank had been closed, placed in receivership, assets auctioned (Feb 1933), and a final dividend declared (Jun 1934). No article describes a depositor run; the sequence is a suspension followed by receivership and permanent closure.

Events (4)

1. February 1, 1933* Other
Newspaper Excerpt
remaining assets the Lu Verne State bank would [be] sold at auction ... the receivership got court order permitting it to date for the sale.
Source
newspapers
2. February 17, 1933 Receivership
Newspaper Excerpt
LuVerne Feed Mill was sold at public auction by the receiver the LuVerne State bank last Wednesday. ... sold at auction by the receiver the LuVerne State bank last Wednesday. A. Schipull purchased ... The mill has been closed for several months. Mention in last week's Advance that remaining assets the Lu Verne State bank would sold at auction this week Tuesday ... actually the receivership got court order amitting it to date for the sale.
Source
newspapers
3. June 29, 1934 Other
Newspaper Excerpt
State Bank in Final Dividend ... the receiver [of] Lu Verne State Bank stated that the last dividend will ... This will make total of about then per cent the depositors for the cash they deposit.
Source
newspapers
4. * Suspension
Cause
Government Action
Cause Details
Bank had been closed and placed in receivership (receiver handling asset dispositions); closure appears to be by official action leading to suspension of operations.
Newspaper Excerpt
The mill has been closed for several months.
Source
newspapers

Newspaper Articles (3)

Article from The Humboldt Republican, February 17, 1933

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Article Text

LUVERNE FEED MILL SOLD AT AUCTION BY BANK RECEIVER February The LuVerne Feed Mill was sold public auction by the receiver the LuVerne State bank last Wednesday. A. Schipull purchased for the sum of one hundred-fifty dollars. Ho hasn't decided at the present time whether he will reopen the mill for business or not. The mill has been closed for several months. E. A. Emkie was the former owner. Elect New Officers. At the meeting of the A. organization the Lutheran church, last Wednesday evening. officers were elected. The meeting held the home Mrs. Fred Wolf. New officers will be George Tiede, Edwin Hanselman, vice president. Mrs. Clara Wolf, secretary and treasurer. Entertained for Mother. Miss Kate Skinner entertained two tables bridge Saturday ternoon honor of her mother. Mrs. Skinner of Algona, who was week end guest with her daughter. High scoro was won by Mrs. Lindebak while travel prize went to Mrs. P. Lichty. Mrs. Dennis Goeders and Mrs. Skinner Algona. were the outof-town guests. Other LuVerne Items. Mr. and Mrs. O. S. Lund entertained about twenty young people at their home Monday evening in honor of their daughter, Dorothy, who celebrated fifteenth birthday. The evening was spent in playing games after which Mrs. Lund served refreshments. W. Scott Hanna, who has been seriously the past month the home his sister Mrs. Ingalls Swisher at Iowa City, has turned home. His nephew Treadwell Robertson of Iowa City, accompanied him home. Mr. and Mrs. Floyd Masterson are the parents of daughter, their first child, born Sunday, Feb. 12th. The Girl Scouts with their leaders, Irene Giesieker and Norma served fifteen cents supper the public Saturday evening at the Community hall. The girls served about seventy people and they cleared about five dollars. The local girls' basketball team played at Algona Friday night with the Algona Academy, losing the game by score of to 12. Norma Partridge ontertained the Entre Nouse bridge club at the country home of Mrs. Lucinda Stone. Bridge was played at three tables and first score was won Bernice Swensen and travel prize by Mrs. Lucinda Stone. Mrs. H. C. Allen was hostess to the Cemetery Association at her home Thursday afternoon. The president and being both absent the secretary appointed Mrs. Peter Thompson president. Due to cold weather there was small the business meeting was omitted. Mrs. John Northrup has gone to Mason City for extended visit at the home of her daughter Mrs. Herbener Miller. district superintendent of the Lutheran days school. was here Thursdaly, Inspecting the local school. Mr. Miller lives at Fort Dodge. Supt. Kate Skinner acted judge declam contest at Rodman Monday evening. The Progressive and Good clubs postponed last week due the severe cold weather. The Presbyterian Ladies Aid met with Jennie Mason Wednesday. Mrs. Wm. Ramus and Mrs. Arthur Kruse were assistant hostesses.


Article from Kossuth County Advance, November 9, 1933

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Article Text

Beg Your Pardon Mention in last week's Advance that remaining assets the Lu Verne State bank would sold at auction this week Tuesday This was an error resulting the of legal entry at courthouse. What happened Tuesday was that actually the ceivership got court order mitting it to date for the sale.


Article from The Humboldt Republican, June 29, 1934

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Article Text

State Bank in Final Dividend stated that the dividend be paid by the late shortly Bank. The receiver Verne State that the last dividend will four cent. There proximate ten cent divihave been two dends since the bank closed. This will make total of about then per cent the depositors for the cash they deposit.