3279. Union Stockyards State Bank (Sioux City, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 31, 1895
Location
Sioux City, Iowa (42.500, -96.400)

Metadata

Model
gpt-5-mini
Short Digest
91ec5b25f15a4d5b

Response Measures

None

Description

Articles describe the bank as defunct and refer to Receiver Tompkins bringing suits to collect assets; this indicates the bank failed and a receiver was appointed. No article describes a depositor run or a temporary suspension/reopening. A later (1902) article describes settlement of suits by the receiver. Dates corrected from newspaper publication dates as evidence of receivership activity by Jan 31, 1895.

Events (2)
1. January 31, 1895 Receivership
Newspaper Excerpt
The suit is brought by Receiver Tompkins, of the Union Stock Yards state bank, of Sioux City, ... the defunct Sioux City bank
Source
newspapers
2. January 3, 1902 Other
Newspaper Excerpt
Settlements Are Reported To Have Been Made — The receiver of the bank retained W. W. Lapoint ... 14 suits were brought ... compromise settlements are reported to have been effected
Source
newspapers

Newspaper Articles (3)
1. January 31, 1895 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, January 31, 1895

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Article Text

A dispatch from Chamberlain states that Judge Kellam of the state supreme court, is defendant in an important case which is to be tried at the term of court now in session there. The suit is brought by Receiver Tompkins, of the Union Stock Yards state bank, of Sioux City, and is to recover the sum of $7,237.99, which is claimed to be due the bank and secured by notes and mortgages. In his reply to the complaint of Receiver Tompkins, Judge Kellam admits that he executed the notes and mortgage by which they were secured, but expressly denies that they were executed for value received, but that they were given wholly without consideration of any kind. Kellam says the notes were simply "accommodation notes," and were given to E. W. Skerry, president of the defunct Sioux City bank, for the reason that Skerry and himself had for years

2. January 31, 1895 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, January 31, 1895

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Article Text

SUIT AGAINST JUDGE KELLAM. South Dakota Supreme Justice Placed in a Peculiar Light. CHAMBERLAIN, S. D., Jan. 30.-(Special.) -Judge Kellam of the state supreme court is defendant in an important case which is to be tried at the term of court now in session here. The suit is brought by Receiver Tompkins of the Union Stock Yards State bank of Sioux City, and is to recover the sum of $7,237.99, which is claimed to be due the bank and secured by notes and mortgages. In his reply to the complaint of Receiver Tompkins, Judge Kellam admits that he executed the notes and mortgages by which they were secured, but expressly denies that they were executed for value received, but that they were given wholly without consideration of any kind. Kellam says the notes were simply "accommodation notes," and were given to E. W. Skerry, president of the defunct Sioux City bank, for the reason that Skerry and himself had for years been on terms of close business and social intimacy, and because Skerry requested his aid in signing the notes for the bank in order that they might be rediscounted, for the time being, and thus assist materially in carrying the bank safely over the financial shoals with which it was evidently surrounded at the time. Kellam further says it was understood that the notes would be taken up by the bank previous to maturity, canceled and then returned to him. For some reason this was not done, and the exposure of the questionable methods adopted to bolster up an insolvent bank is the result. A case of identically the same character is brought by Receiver Tompkins against Scott Hayes of this city, except that the amount claimed to be due the bank by Hayes is $9,069.91.

3. January 3, 1902 Barre Evening Telegram Barre, VT
Article from Barre Evening Telegram, January 3, 1902

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Article Text

SETTLEMENTS Are Reported To Have Been Made SIOUX CITY BANK Took $17,000 Investments From This Vicinity Several years ago a number of well to do citizens of Washington, Chit tenden and Orange counties became st cxholders in the Union Stock Yards S are Bank, doing business at Sioux City, IOW L. After a time the banks failed and the assets vanished as snow b. fore a summer sun. Acting under the laws of Iowa the Vermont stockholders were deemed the full am unt of th ir stock this they refu ed to pay, another amendment was made. this time for only half the amount of stock held by each stockholder. Still they refused to pay. The receiver of the bank retained W. W. Lapoint of this city to collect the amount claimed to be due and 14 suits were brought in the Vermont :courts, the amounts in band being about $17,000. Wm Wishart has assisted in the conducting of these cases and after nearly three years of negotiation between a torneys representing the rec ivers and the defendants, comp omise settle. ments are reported to have been effected and the cases are to be settled.