Merchants National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3736
Charter Number: 3736
Start Date: December 15, 1933
Location: Clinton, Iowa (41.844, -90.189)

Metadata

Model: gpt-5-mini
Short Digest: b8ba3f4a

Response Measures

None

Receivership Details

Depositor recovery rate: 59.3%
Date receivership started: 1933-09-09
Date receivership terminated: 1935-10-31
Share of assets assessed as doubtful: 80.4%
Share of assets assessed as worthless: 19.6%

Description

Articles (Dec 1933 and Apr 1934) report that Joseph A. Gamble is receiver of the Merchants National Bank of Clinton and describe receiver suing a stockholder for assessment. The pieces do not describe a run; they indicate the bank was closed and in receivership. No reopening is mentioned.

Events (5)

1. June 28, 1887 Chartered

Source: historical_nic

2. June 4, 1931 Voluntary Liquidation

Source: historical_nic

3. September 9, 1933 Receivership

Source: historical_nic

4. December 15, 1933 Receivership

Newspaper Excerpt: Suit for $1,000 has been started in federal district court, Davenport by Joseph A. Gamble, receiver of the Merchants National Bank of Clinton against Albert Stuedemann of Clinton county.
Source: newspapers

5. April 5, 1934 Other

Newspaper Excerpt: A motion by Attorneys C. B. Holleran and F. L. Holleran, appearing as counsel for Albert Stuedemann, defendant in a bank stock assessment case in federal district court, to have the attorneys for Joseph A. Gamble, receiver the Merchants National bank of Clinton, make the petition more specific, was overruled by Judge Charles A. Dewey this morning.
Source: newspapers

Newspaper Articles (2)

1. December 15, 1933 Quad-City Times Davenport, IA

Article from Quad-City Times, December 15, 1933

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Article Text

Clinton Bank Receiver Sues In Stock Case Suit for $1,000 has been started in federal district court, Davenport by Joseph A. Gamble, receiver of the Merchants National Bank of Clinton against Albert Stuedemann of Clinton county. Amount of the suit represents a 100 per cent assesment on ten shares of stock, par value $100. held in the bank by Studeman. Interest from Oct. 27, last, and costs are asked in the action, filed by Glenn T. Cousins, attorney for the receiver. Seventy-four miles of pear trees and 31 miles of peach trees are be ing cultivated in a single orchard in northern Italy

2. April 5, 1934 The Daily Times Davenport, IA

Article from The Daily Times, April 5, 1934

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Article Text

Judge Overrules Motion For More Specific Petition A motion by Attorneys C. B. Holleran and F. L. Holleran, appearing as counsel for Albert Stuedemann, defendant in a bank stock assessment case in federal district court, to have the attorneys for Joseph A. Gamble, receiver the Merchants National bank of Clinton, make the petition more specific, was overruled by Judge Charles A. Dewey this morning. Attorneys for both parties submitted written briefs to the court when the motion was made and Judge Dewey ruled that the petition contained all of the necessary information Studemann being sued by the receiver of the bank for $1,000 and interests and costs. Glenn T. Cousins is the attorney for Mr Gamble. A German scientist succeeded in baking loaf of bread like ancient Egyptian specimens which had deep hollows in the center, the hollows being presumably used as bowls to hold food eaten in the bread. Munitions imported into China in the first nine months of 1933 were greater than those of the same period of the preceding year.