Farmers & Merchants Savings Bank

Episode Information

Episode UID: 3407890991302
Episode Type: Suspension → Closure
Bank Type: savings
Bank ID: 340789099 hash
Start Date: June 8, 1908
Location: Rake, Iowa (43.484, -93.919)

Metadata

Model: gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest: d917b7dcf795f3d7

Response Measures

None

Description

The article reports a request for a receiver due to alleged misappropriation of funds, which typically implies a suspension of normal operations.

Events (2)

1. June 8, 1908 Receivership

Newspaper Excerpt: have asked for the appointment of a receiver for that banking institution
Source: newspapers

2. June 8, 1908 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Stockholders allege misappropriation of funds by bank officials.
Newspaper Excerpt: G. W. Brett, of this city, and other stockholders in the Farmers' and Merchants' Savings Bank of Rake, have asked for the appointment of a receiver
Source: newspapers

Newspaper Articles (1)

1. June 8, 1908 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, June 8, 1908

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Article Text

ASK RECEIVER FOR BANK. Stockholders in Rake Bank, Allege Misappropriation of Funds. Special to Times-Republican. Mason City, June 8.-G. W. Brett, of this city, and other stockholders in the Farmers' and Merchants' Savings Bank of Rake, have asked for the appointment of a receiver for that banking institution. The bank is not a new one. Complainants allege that some one has been misappropriating the funds of the bank. Rake is located near Lake Mills, in Winnebago county.