Corn Belt Savings Bank - Cedar Rapids, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: November 24, 1931
Location: Cedar Rapids, Iowa (42.008, -91.644)

Metadata

Model: gpt-5-mini
Short Digest: 580ebc2f

Response Measures

None

Description

Article of 1931-11-24 reports the Corn Belt Savings Bank 'failed' and 'closed its doors' and that L. A. Andrew took over as receiver. Subsequent 1932 articles show the receiver pursuing judgments and selling the bank building, consistent with permanent closure and receivership. OCR errors in Article 1 have been corrected (garbled phrases about assets/deposits). No explicit run is described in the texts, so this is a suspension/closure with receiver.

Events (2)

1. November 24, 1931 Receivership

Newspaper Excerpt: Andrew took over the institution. ... L. A. Andrew, receiver for the Corn Belt Savings bank, obtained a $24,722.09 judgment against the Cedar Craft company ... Andrew as the bank's receiver also dismissed a foreclosure action ... The receiver said $22,000 was the best offer he had received for the building (sale of the building occupied by the Corn Belt bank).
Source: newspapers

2. November 24, 1931 Suspension

Cause Details: Article states the bank 'failed' and 'closed its doors'; no explicit cause (no run or rumor described) in the text.
Newspaper Excerpt: Cedar Rapids Bank Closes Its Doors ... The Corn Belt Savings bank here failed open its doors for business when the of banking. Andrew took over the institution.
Source: newspapers

Newspaper Articles (3)

1. November 24, 1931 Mid-West Progressive Muscatine, IA

Article from Mid-West Progressive, November 24, 1931

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Article Text

Cedar Rapids Bank Closes Its Doors CEDAR RAPIDS, Ia. The Corn Belt Savings bank here failed open its doors for business when the of banking. Andrew took over the institution. Assets the bank are about while the $100,000 and deposits June 30, 1931 were approximately CHRISTMAS TREES TO SEATTLE, Wash. (INS) Christmas trees for to the Philippine Islands the newest venture of the Christmas Tree Association, cooperative organization with members Washington, Oregon, Idaho, and British Columbia. sample lot of 500 trees, from table to 20 feet in height, finds consignment yearwill grace Philippine homes Yuletide. Half million trees will be shipped to 38 States this year by the cooperative.

2. March 4, 1932 The Gazette Cedar Rapids, IA

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Article Text

Corn Belt Bank Receiver Awarded Two Judgments L. A. Andrew. receiver for the Corn Belt Savings bank. obtained a $24,722 09 judgment against the Cedar Craft company in District Judge F. O. Ellison' court yesterday afternoon The receiver for the Corn Belt bank also was awarded a judgment against D A Carlson in a foreclosure action and lien on the fixtures and at the Carlson Cigar store 323 Second avenue SE Andrew as the bank's receiver also dismissed a foreclosure action against Anton Balsanek et al. Marcella Pechar suing through her father John Pechar dismissed a damage suit against Charles Raymond in Judge John T. Moffit's court Nelson W Wehrhan was granted a quieting title to farm property in Fayette township west of Palo by default in Judge Ellison's court The default decree applied to all but two of many defendants being continued as to N. C. and Anna E. Lunt. who have not yet been served with notice of the suit. The farm property extends into the west edge of Benton county. services for Mrs. Arnold Bader who died at her home in Monticello Wednesday afternoon, will be held Sunday afternoon at the Reformed church. the Rev Armin H. Tendick officiating As Sophia Neiman Mrs. Bader was born in Hessen. Germany Oct 18. 1868. She came to this country at the age of 13, making her home with an uncle and aunt at Strawberry Point for a number of years before coming to Monticello On March 29 1894 she was married to Arnold Bader Following few years residence in Monticello, Mr. and Mrs. Bader moved to the Bader homestead in South Fork township Delaware county where they lived for thirty years before returning to make their home in this city last December Besides her husband, Mrs. Bader survived by two children. Mrs John Robinson of Monticello and Henry Bader. who lives on the home farm one sister, Mrs John Wenger of Sioux City, and three grandchildren.

3. May 2, 1932 The Gazette Cedar Rapids, IA

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Article Text

for damage to his name and reputation as a result of the charge. Files Insurance Claim. Walter Giza, 1500 Sixteenth avenue SE. has filed suit against the John Hancock Mutual Life Insurance company of Boston for $2,999 damages under a life and disability insurance policy. Giza claims that month after he took out the policy last July 15, he became totally and permanently disabled by disease but that the insurance company has denied He says the value 000 and the value the total and manent disability benefits $1,999, and he asks the court to adjudicate his claim. Probate Popelka Will. The will of Frank Popelka, 90 who died March 20 his home. 921 Ninth street SE. was probated Judge John Moffit's court Judge Moffit approved nomination of the testator's two sons. Joseph A. and Popelka executors without bond Popelka quest of $100 to Hus Memorial church. which he was a charter member The remainder is to be divided equally among his eight children. Joseph A. and S. Popelka Mrs. Anna Karban. Mrs. Emma Mrs. Mary and Mrs. Julia Kinkead, all of Cedar Rapids, and Mrs. Albia Hess of Solon. Postpone Building Sale. Sale the building occupied by the Corn Belt bank comes up for hearing in Judge Moffit court at 9 a.m. tomorrow The hearing was scheduled for today but was continued the Palumbo Brothers, bidders, whose attorney was out the Application for of the property was made April 20 by L. A. Andrew. receiver of the bank. The receiver said $22,000 was the best offer he had received for the building. made Tschirgi, and he asked permission to sell it at that figure This morning, however. Palumbo Brothers filed an application asking permission to bid on the structure The building at $22 by the appraisers. Arthur Hurtt Horace G. Hedges and Walton A. Keller. Sues Rockstad For Divorce Mrs. Blavney filed divorce suit against Paul LaVern Rockstad in district court today, alleging cruel treatment Rockstad is resident of Jones county Mrs. Rockstad coustody of their 4year-old child.