West Point National Bank (West Point, NE)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
December 12, 1931
Location
West Point, Nebraska (41.842, -96.709)
Bank Type
national
Charter Number
3340

Metadata

Receivership Details

Depositor recovery rate
41.3%
Date receivership started
1931-12-14
Date receivership terminated
1938-11-15
Share of assets assessed as good
15.9%
Share of assets assessed as doubtful
61.4%
Share of assets assessed as worthless
22.7%

Notes

Comptroller of the Currency took charge and a receiver (E. C. Manny) was appointed; closure appears permanent.

Events (4)

1. May 9, 1885 Chartered
Source
historical_nic
2. December 12, 1931 Suspension
Cause
Government Action
Cause Details
Board voted to close and the Comptroller of the Currency took charge; closure followed by federal intervention/receiver appointment.
Newspaper Excerpt
The West Point National bank of this city voluntarily closed its doors Saturday morning, December 12th, by action of the Board of directors who held meeting the evening before.
Source
newspapers
3. December 14, 1931 Receivership
Newspaper Excerpt
The Comptroller the Currency took charge of the bank and later receiver, Mr. Manny, appointed who took complete control of the affairs the bank. / WEST POINT NATIONAL BANK FAILS TO OPEN ... The bank established 1885. Bauman, president ... the Comptroller ... took charge of the bank and later receiver ... appointed E. C. Manny, Receiver West Point Natl. Bank (court dockets).
Source
newspapers
4. December 14, 1931 Receivership
Source
historical_nic

Newspaper Articles (14)

Article Text

WEST POINT NATIONAL BANK FAILS TO OPEN

West Dec. Point National bank has closed doors to business. No reason for the closing has yet been made public. Bauman, president the institution. H. Bauman vice president; W. cashier, and B. Fisher and E. R. assistant cashiers. The bank established 1885. The Nebraska State bank was closed about year ago but cently re-opened as the Farmers and Merchants State bank, following reorganization.


Article Text

Finds No Need For Rush Money dren were to Point, Neb. Dec. Spe to The News prepare on bank deposits aft. the closing of the West Point National bank here Saturday morning. Wenzel Kondelo. president First National Bank of HIDES


Article Text

Closes

The West Point National bank of this city voluntarily closed its doors Saturday morning, December 12th, by action of the Board of rectors who held meeting the evening before. The Comptroller the Currency took charge of the bank and later receiver, Mr. Manny, appointed who took complete control of the affairs the bank. The real the bank's closing is partly due to the fall of prices in real estate and livestock, and frozen assets. Some of may also be blamed great number people lost confidence in banks and withdrew their money which made the cash in the bank rather According their last statement given out their deposits amounted and their loans and discounts amounted Thus far no statement has been out what steps will taken in the future. The bank was one time considered one of the strongest banks northeast Nebraska. It tablished in 1885. Baumann is president; Baumann, Johnson, cashier; Fischer and Korb, assistant cashiers. Baumann, Mrs. Olive Rich and Otto Stuefer are on the board of directors. pleased to learn that the are people did not become excited when learned the news of the bank they closing and there were no runs on either of the other two banks. means blow to the entire community should try not lose confidence in either of the other banks other business any concern in West Point.


Article Text

RUSHES RESERVE FUNDS Following the closing of the West Point National bank, Saturday morning, Wenzel Koudele, president the First National bank, prepared for possible run bank deposits by phoning for brought here from the Federal Reserve bank of Omaha. The money rushed here that morning in an airplane. depositors remained confident, and there no rush of withdrawals necessitate use of the money.


Article Text

MONEY BY PLANE

Following closing of the West Point National Bank Saturday morning, Koudele, president of the First National bank, prepared for possible run on bank deposits by phoning for thousand dollars to Federal Reserve bank in Omaha The money rushed plane. However, depositors remained confident, and there was no rush of withdrawals to use money. County Democrat.


Article Text

(Accounting and Charles Kaup and Emma Schiferl Executors, Conrad Welding (Foreclosure Mortgage.) Elizabeth Maloney Tien, name unknown. (Damages.) Re Application of Peter Ludwig, Adm. Est. Franz Malchow, deceased. (To sell real estate.) H. Nuveman Sophia Sellentin (Partition.) Minna Leitow vs. August Leitow. (Divorce.) Johanna Wickert Alfred Wick (Separate Maintenance.) C. Smith vs. Anna Stephens Guernsey et (Foreclosure Mortgage.) Lloyd M. Maxwell Henry Schorn (Foreclosure Mortgage.) Skaggs Co. Jerman Bros. (On Contract) Christ Hunke Henry Goeken (Foreclosure State ex Sorensen, AtGen. Wisner State Bank. (Receivership.) Re Estate Frank Wickert, Deceased.) Emley VS. Robert Leisy (Foreclosure Mechanic's Lien.) Emma Reimers VS. John Schmad(Bastardy.) First National Bank of Beemer H. West (On Note.) Wallace Oswald (Foreclosure Mtg.) The Travelers Ins. Co. Rollo Hutchinson et al. (Foreclosure Mtg.) Walter Gardels vs. George Miller et al. (Quiet Title.) National Bond Inv. Co. Charles H. Hass. (Replevin.) Henry Roepken George Garland et al. (Damages.) Henrietta Roepken vs. George Garland et (Damages.) E. Manny, Receiver West Point Natl. Bank William Wickert. (On notes.) Katharina Stratman vs. Carl Stratmann (To re-instate Lien.) Jos. Canarsky vs. Louise Canarsky. (Divorce.) The First Natl Bank of Paw Paw, Mich. VS. Stanley Pipal. (On Notes.) Otto H. Zacek XS. Fred Lindemann (Foreclosure Mtg.) Otto H. Piepenbrink vs. Stanley Pipal et (Judgment.) William Thisius VS. Alphonse W. Blye et (Quiet Title.) E. H. Luikart, Receiver Wisner State Bank vs. John Helms. (On Note.) E. H. Luikart, Receiver Wisner State Bank Hugo Leisy. (Stockholders Liability.)

William McKinley Nellor et al Charles H. Nellor al. Partition.

Re West Point Natl. Bank. (Receivers Applications.) E. H. Luikart, Receiver Wisner State Bank Fergus V. McGuire. (On Notes.)

Andrew Larsen VS. Niels Andersen, al. (Foreclosure Mtg.) E. H. Luikart, Receiver Wisner State Bank William H. Fleming. (On Note.) Port Huron Machinery Supply Co. Lincoln, Nebr. vs. Rich. (On Notes.)


Article Text

MANNYS RENT SASS RESIDENCE

Mr. Manny has rented the Herman Sass residence in the east part this city and will move there Monday next week with wife and three children, who have been residing in Greeley. Mr. Manny the receiver charge of the West Point National bank. for the Democrat!


Article Text

(on note) Herman Meister, Sr. vs John E. Rabe et al (foreclosure mtg.) Red Oak Bridge & Iron Works vs County of Cuming et al (appeal) Francis C. Lorensen vs County of Cuming (appeal) Farmers State Bank of Altona, Nebraska vs County of Cuming (appeal) Walter L. Erickson vs County of Cuming (damages) Wisner State Bank vs William H. Fleming (attachment) Otto H. Zacek vs Fred Lindemann et al (foreclosure mtg.) William McKinley Nellor et al vs Charles H. Nellor et al (partition) Re. West Point Natl. Bank (receivers applications) Andrew Larsen vs Niels P. Anderson, et al (foreclosure mtg.) Re Guardianship of Ross Bryngelson et al (to sellreal estate) Andrew R. Oleson vs The County of Cuming et al (tax accounting) Henry Wubbenhorst vs Leo L. Wolff et al (on note) Hans R. Launsby vs Antoinette Launsby (divorce) The Fremont Joint Stock Land Bank vs Louie Kratke et al (foreclosure mtg.) Otto H. Zacek vs Theodor Buchholz et al (foreclosure mtg.) Chicago & Northwestern R. R. Co. vs Paul E. Stufer et al (appeal) Ruth E. Greeley vs Carl Schriever (judgment) Charles Meier vs Joseph Gentrup (on note) J. E. Aycrigg vs John F. Farley et al (foreclosure mtg.) The Federal Land Bank vs Wilson McGuire et al (foreclosure mtg.) Bankers Life Ins. Co. vs Bertha C. Nelson et al (foreclosure mtg.) E. C. Manny, Rec. West Point Natl. Bank vs William F. F. Wickert (on notes) E. H. Luikart, Rec. Wisner State Bank vs Thomas F. McGuire et al (foreclosure mtg.) E. C. Manny, Rec. West Point Natl. Bank vs Joseph W. Ellis (specific performance) Lydia Woerman vs Edward Risse et al (foreclosure mtg.) Chas. Beckenhauer et al, Executors vs Edward Risse, et al (foreclosure mtg.) Charles Reeson vs Edward Risse et al (foreclosure mtg.) The Franklin Life Ins. Co. vs John F. Farley et al (foreclosure mtg.) E. C. Manny, Rec. West Point Natl. Bank vs William Fillmer (on note) Holy Family Convent etc vs Joseph Gentrup (on note) The Fremont Joint Stock Land Bank vs Owen Kane et al (foreclosure mtg.) E. C. Manny, Rec. West Point Natl. Bank vs S. C. J. Anderson et al (on notes) Lillie Fechner et al vs Fred Kumm et al (foreclosure mtg.) National Surety Co. vs John J. Gross (attorney fees) C. H. Hagedorn vs Joseph Gentrup (on note) Louis Roepe et al as L. Roepe & Son vs Frank Kucera (appeal) Re Est. John Bloedorn, dcd. (petition in error) Gus Hagedorn vs Arnold Venjohn et al (on note) The Union Natl. Bank of Fremont vs McLean State Bank et al (partition) Federal Land Bank vs August C. Canarsky et al (foreclosure mtg.) M. Nelson vs Patrick H. McGill et al (foreclosure mtg.) Elsie Mertz vs Joe Goeken (appeal) A. R. Oleson vs Joe Goeken (appeal) Reuben Bates vs Standard Bridge Co. et al (appeal) Federal Land Bank vs C. L. Joseph Canarsky et al (foreclosure mtg.) Nebraska Central B. & L. Assn. vs Charles H. West et al (foreclosure mtg.) Herman Frericks vs William Witt et al (damages) Frank W. Ludwig vs Alfred J. West et al (foreclosure mtg.) Christian A. Carlberg vs Florence A. Mack et al (foreclosure mtg.) Ella Kellinghaus Spencer vs Ralph H. Spener (divorce) Henry C. Hoegermeyer vs Joseph Gentrup (on note) E. H. Luikart, Rec. Wisner State Bank vs Bernard H. VonSeggern (on note) First Natl. Bank Beemer vs Fred WieSel (on notes) Howard Reeson vs Wilhelm Braun, et al (foreclosure) James H. Locke vs Archie Gow and Minnie Gow (two suits in auto damage) Arthur J. Garvis, administrator, vs Archie Gow and Minnie Gow (auto damage) Farmers State Bank of Dodge vs John J. Stratman (on notes) Otto Brahmer vs Otto Schulz et al (foreclosure mortgage) William Schartow and Daniel D. Harrington vs Owen Kane et al (vacate deed) F. E. Peden, executor, vs David E. Landholm, et al (foreclosure mortgage) Ralph F. McManus vs Harry F. Roth et al (two appeals compensation appeal) Federal Land Bank of Omaha vs Theodore J. Buchholz et al (on note)


Article Text

COURT APRIL 17 (Continued from page Emma Lampe vs Clarence Lampe. Separate Maintenance. Mobel Yotter Edward Yotter Divorce.

Emma Glissman VS. Francis Kessinger Partition. Anna Leisy vs. The Farmers Mutual Home Ins. Co. al. On Policy. The State Nebraska Nebras ka State West Point. Receivership Adolph Zicht Ralph Case Marie Thompson Everett Thompson. Divorce. Smith Anna Stephens Guernsey et Foreclosure Mtg. State Sorensen, Atty. General Wisner State Oswald et Foreclosure Henry Roepken vs. George Gar land Damages. Henrietta Roepken George Garland Damages Manny, Receiver West Point National bank William On Notes. Canarsky VS. Louise Canarsky. Divorce. Otto Zacek Fred Linde mann Foreclosure William McKinley Nellor Charles H. Nellor Partition. Re Point National bank Applications Larsen Niels dersen Foreclosure Mortgage Re of Ross Bryngel sell Real Estate. Andrew Oleson The County Cuming Tax Accounting Hans Launsby Antoinette Launsby. Divorce. The Fremont Joint Stock Land Bank Louie Kratke Foreclosure Mortgage. Otto H. Zacek Theodor BuchForeclosure Mortgage. Northwestern Paul Stuefer Appeal. John Farley


Article Text

Zacek Nicholson Notice of Sale

Notice is hereby given that by virtue of an Order of Sale issued by the Clerk of the District Court of Cuming County, Nebraska, upon decree rendered May 10, 1933, In favor of plaintiff, in foreclosure action wherein The Fremont Joint Stock Land Bank of Fremont, No braska, corporation, is plaintiff, and Ellis and Marie Ellis, his wife, Baumann, Sarah Giffert, West Point National bank, corand E. C. Manny, Receiver of the West Point National Bank, West Point Nebraska, corporation, are defendents, for the sum of $1,303.67 with interest thereon at eight per cent per annum from May and costs, will, on the 3rd day of July, 1933, at 10 o'clock A. M. of said day, at the west front door of the courthouse of said county, in West Point, Nebraska, sell the following described real estate, to-wit: The Northeast Quarter the Southwest Quarter (NE% SW%) and Southeast Quarter (SE%) of Section Ten (10), Township Twenty-one (21), Range Six (6), except One (1) acre in the Southeast Quarter (SE%) of Section Ten (10), Township Twenty-one (21), Range Six (6), conveyed to School District No. 47 for school ground purposes, and also strip of land "Twenty width around the lake" and subject to telephone company's all East of the Sixth Principal Meridian (6th M.), in Cuming county, Nebraska, containing 200 acres, more or less according to the Government Survey, to the highest bidder for cash to satisfy said decree, the amount due upon said decree being the sum of $1,303.67 together with interest thereon at eight per cent per annum from and after May 10, 1933, and costs thereon and all accruing costs; subject to the lien of the plaintiff under its mortgage for the non-delinquent balance thereof of $12,572.86 as of January 1, 1933. Said Sale to be open for one hour. Dated this 31st day of May, 1933. Charles H. Sass, Sheriff of Cuming county, Nebraska (Pub. June 1, 8, 15, 22, 29, 1933)


Article Text

NAMED RECEIVER OF NATIONAL BANK

WILL SUCCEED HARALD LAND WHO HAS BEEN HERE ABOUT A YEAR

POLITICAL MOVE IS SEEN

Rumor is Norfolk Postmaster to Selected Next Week- Mrs. Be Marie Weekes May Receive Appointment

Forrest Lear, Norfolk attorney and refereee in bankruptcy. has the been appointed receiver of Norfolk National bank to succeed Harald Nomland who has been act. ing in that capacity since the death of Frank Burchmore last August, was announced Tuesday morning. Mr. Lear was notified of his appointment by the comptroller of at Washington Tuesday currency night. The move is interpreted in Norfolk as being political, the replacing of Republicans appointees with E. Manny of West Point, receiver for the Point National bank and the First Na tional bank of Madison. has also been notified by the comptroller that he will be replaced. His successor has not been announced as Norfolk friends could learn Tuesday. Assumes Duties Wednesday Mr. Lear who is well known in Norfolk and northeast Nebraska to serve referee in will continue bankruptcy for the time being. He his duties as bank to assume the close of business receiver at Wednesday. John Wehr, clerk and field manager for the bank, and Miss Margaret Bedard, are cintinue to serve in their to capacities. Mr. Nomland has also been ceiver for the First National bank and First National bank of Tilden of Crofton. He came to this city from Kearney. Before that he livat Grand Forks and Fargo, He has been bank receiver for the since March, 1927, during his residence in folk has made many friends Charles H. Kelsey, Norfolk, attorney for the bank, is generally believed, also to be replaced by Democrat, although he has not been officially notified to that effect.

Postmaster To Be Named According to rumor heard in Norfolk Monday afternoon, the of postmaster to sucappointment ceed Herbert Wichman may be week. Mrs. Marie made next Weekes, was learned from an thoritative source, will likely Mr. Wichman's successor. A. Mitchell, understood. also has chance of being appointed postmaster. Another mor is that Columbus man, whose name was not learned, may be selected for the Norfolk postmastership.


Article Text

FORREST LEAR CHOSEN TO RUN NORFOLK BANK

Norfolk, Aug Lear, Norfolk has been appointed receiver for the Norfolk National bank, succeeding Harold Nomland, who has served in that capacity since last August, E. C. Manny, receiver for the West Point National bank has been notified that he will be replaced, but the name of his has not yet been announced.


Article Text

Manny Resigns as a Bank Receiver

Manny, Greeley from West Point Tuesday afternoon to look after matters connected with the First National bank, announced that he had sent his resignation as receiver for national banks to Washington last Saturday. A change in the administration was responsible for Manny's resignation. Other receivers already have been dismissed from the service. Manny decided to resign rather than wait for dismissal. Manny came to Greeley in January, 1930, to take charge of the failed First National bank. ago last winter the West Point Na. tional bank failed and Manny took over the receivership in addition to the Greeley bank. Later bank Madison was added to his charge. Manny enjoyed the friendship and confidence of a wide circle of friends during his stay in Greeley. He and his family were highly esteemed here. Manny said he had no plans to announce for the future. He expects the appointment of a successor within few days.


Article Text

NEXT

The fall term of district court will convene on Monday, October 30.

There are only three criminal cases on the for murder, one for burglary and one for theft.

The State of Nebraska Forks, murder; State of Nebraska Lloyd and Arnold Clementson, burglary; and State of Nebraska Einar Carlson, theft. The bar docket unusually heavy with civil cases of various kinds but mostly foreclosures and suing notes. The docket is as follows: Herman Meister, Sr. John Rabe al. Foreclosure Mtg. Red Oak Bridge Iron Works County of Cuming Appeal. Francis Lorensen County of Cuming. Farmers State Bank of Altona, Nebraska County Cuming. Appeal. Walter Erickson County of Cuming. Damages. Wisner State Bank William Fleming. Hugo Leisy H. Fleming. Attachment. The State of Nebraska Rel A. Sorensen, Atty. The Beemer State Bank. Joseph Novacek Cuming County Damages. James Surety Farm Loan Recovery. Bella M. Harmon Ruth gory. Partition. Robert Diers Krause Co. On Notes. Olive True Harry True. Divorce. Herman and Emma Lampe Clarence LamSep. Maintenance. Emma Glissman Francis Kessinger al. Partition. Anna Leisy Farmers Mutual Home Ins. Co. Adolph Zicht Ralph Damages. Marie Thompson Everett Thompson. Divorce. Smith Anna Stephens Guernsey et gage. State ex rel, Sorensen, Atty. Gen. Wisner State Bank. Receivership. Wallace wald et Foreclosure Mtg. Henry Roepken George land Damages. Henrietta Roepken vs George Garland Damages. E. Manny, Receiver West Point Natl. Bank William Wickert. On Notes. Jos. Canarsky vs Louise Canarsky. Divorce. Otto H. Zacek Fred Lindemann Foreclosure Mtg. William McKinley Nellor Charles H. Nellor et al. Partition. Re West Point Natl Bank. Receivers Application. Re Guardianship of Ross gelson To Real Estate. Andrew Oleson The County of Cuming Tax Accounting. Otto Zacek holz et al. Foreclosure Chicago & Northwestern Paul E. Stuefer peal. Ayerigg John Farley (Continued page four)