3264. First State Bank (Corwith, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 13, 1911
Location
Corwith, Iowa (42.993, -93.957)

Metadata

Model
gpt-5-mini
Short Digest
2efeba8f

Response Measures

None

Description

The First State Bank of Corwith was insolvent and in receivership (receiver W. C. Oelke). Articles describe a public sale of remaining assets (Mar 13, 1911) and a Supreme Court decision affirming matters related to the bank's receivership (June 6, 1911). No article describes a depositor run prior to suspension; the failure appears bank-specific (missing cashier, worthless notes), and the bank remained in receivership/closed.

Events (3)
1. March 13, 1911 Other
Newspaper Excerpt
Nearly $20,000 of notes and judgments brought a little over $300. Sheriff John Surballe bought about $4,000 worth of notes against John Standring, the missing cashier of the Corwith bank, for 10 cents.
Source
newspapers
2. June 6, 1911 Receivership
Newspaper Excerpt
Receivership First State Bank of Corwith vs. First State Bank of Corwith. appellant. Hancock district. Affirmed.
Source
newspapers
3. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank insolvent following missing cashier John Standring and large worthless notes/judgments; assets sold at auction by receiver.
Newspaper Excerpt
W. C. Oelke, receiver for the First State Bank of Corwith, held a public sale of the notes and judgments remaining of the assets...
Source
newspapers

Newspaper Articles (3)
1. March 13, 1911 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, March 13, 1911

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Article Text

SELL FOR A SONG Notes and Judgments Belonging to the Insolvent Corwith Bank Knocked Down at Public Auction-$20,000 Worth of Paper Disposed of For $300 -$4,000 Item Brings 10 Cents. Special to Times-Republican. Garner, March 13.-W. C. Oelke, receiver for the First State Bank of Corwith, held a public sale of the notes and judgments remaining of the assets at the front door of the court house. Nearly $20,000 of notes and judgments brought a little over $300. Sheriff John Surballe bought about $4,000 worth of notes against John Standring, the missing cashier of the Corwith bank, for 10 cents. As Sheriff Surballe holds a warrant for Standring's arrest he stands as good a show to collect these notes as anyone.

2. June 6, 1911 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, June 6, 1911

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Article Text

JUNE TERM SUPREME COURT. Several Important Decisions Expected During Month. Special to Times-Republican. Des Moines, June 6.-The state supreme court began the June term here today. Several important decisions are expected during the term. The following opinions were handed down today: Dimsdale versus Tollerton-Warfeld Company, appellant. Woodbury district. Affirmed. Silvers vs. Floyd, appellant. Wapello district. Affirmed. Iowa Central Railway Company, appellant, vs. Homan. Hardin district. Affirmed. State vs. Corwen, appellant. Poweshiek district. Affirmed. McCaull-DInsmore Company vs. Fritzson Grain Company, appellant. Woodbudy district. Affirmed. Fulton vs. Fisher, appellant. Jefferson district. Affirmed. Receivership First State Bank of Corwith vs. First State Bank of Corwith. appellant. Hancock district. Affirmed. Empire State Surety Company. appellant, vs. city of Des Moines, et al. Polk district. Modified and affirmed. State vs. Mullen, appellant. Wayne district. Reversed.

3. June 8, 1911 Ottumwa Tri-Weekly Courier Ottumwa, IA
Article from Ottumwa Tri-Weekly Courier, June 8, 1911

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Article Text

SILVERS WINS IN HIGH COURT CASE BROUGHT TO SUPREME TRIBUNAL BY W. B. FLOYD IS DECIDED AGAINST HIM. The action of the supreme court yesterday in affirming the decision of the lower court in the case of Silvers vs. Floyd, recalls a suit that attracted some attention when tried in the district court of Wapello county because of all that was brought out during the hearing. It will be recalled that W. V. Silvers had control of a building on East Main street which he claimed to have rented to Schonwebber and Floyd., The former operated a saloon in the lower portion of the building, while Floyd was said to operate a gambling house in the upper floor of the structure. The action of the grand jury in probing a number of gambling houses, caused the gambling house to close and the saloon was sold by Schonwebber to a person named Green. The rent had been met by the two former occupants and after the sale of the saloon, Green and Floyd paid the rent one-half the amount by each person for a time. Two months after the saloon closed, Floyd refused to pay the rent for the building and W. V. Silvers brought suit for two months rent at $55 per month. Floyd resisted the claim and said that Silvers rented the building for gambling purposes knowingly. This was denied by Silvers and the question was one of the chief features of the case and had much to do with its going to the supreme court after Mr. Silvers won the case in the district court. The affirming of the lower court will close the case in which the costs have piled up in addition to the principal sued for. Other Decisions. Following are the decisions handed down today: Sam Dimdale v3. the TolertonWarfield Co., appellant, Woodbury district, affirmed; opinion by Evans. W. V. Silvers vs. W. B. Floyd, appellant, Wapello district affirmed; opinion by Deemer. Iowa Central Railway Co., appellant, vs. August Homand, Harding district, affirmed; opinion by Evans. State of Iowa vs. Geo. D. Corwin, appellant, Poweshiek district, affirmed opinion by Ladd. The McCaull Dinsmore Co., vs. Fritzson Grain Co., appellant, Woodbury district, affirmed; opinion by Weaver. Receivership First State bank of Corwith vs. First State bank of Corwith, claim of Jno. H. Caswell, appellant, Hancock district, affirmed; opinion by the court. State of Iowa vs. R. G. Mullen, appellant, Wayne district, reversed; opinion by Deemer. J. W. Fulton, Jr., vs. P. H. Fisher, appellant, Jefferson district, affirmed; opinion by McClain. Empire Surety Co., appellant, vs. City of Des Moines, Central State Bank, R. N. Moss, trustee in bankruptcy et al., Polk district, modified and affirmed; opinion by McClain.