Farmers State Bank - Elberon, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 1, 1932*
Location: Elberon, Iowa (42.006, -92.317)

Metadata

Model: gpt-5-mini
Short Digest: 0ad706f8

Response Measures

None

Description

Article (Apr 4, 1934) refers to D. W. Bates as receiver of the Farmers State Bank of Elberon and to a judgment procured by the receiver in Oct. 1932. No run is described; the bank was in receivership (i.e., closed) by 1932, so this is a suspension that resulted in closure/receivership.

Events (1)

1. October 1, 1932* Receivership

Newspaper Excerpt: the receiver of the Farmers State bank of Elberon ... On Oct. 1932. the receiver of the bank procured judgment against him for $18,000, on which $400 has paid.
Source: newspapers

Newspaper Articles (1)

1. April 4, 1934 The Courier Waterloo, IA

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Article Text

Homestead Claim Made by Elberon Man in Bank Suit Toledo. reply by the plaintiff. E. P. Skrable. was filed in the Tama county district court Tuesday in the case of Skrable against E. O. sheriff of Tama county, and D. W. Bates, as receiver of the Farmers State bank of Elberon Skrable is the owner of six lots with dwelling thereon. in Elberon On Oct. 1932. the receiver of the bank procured judgment against him for $18,000, on which $400 has paid. Skrable asked an which was ordered by Judge B. O. Tankersley March 27, restraining the defendants from selling the lots to satisfy the judgment. The defendants, in an answer, say that Skrable the holder 180 shares of capital stock of the bank and the judgment of $18,000 represents an assessment of 100 per cent on the stock. They claim the stock was acquired prior the acquisition of the property levied upon. and that the judgment debt was contracted prior to the acquisition of the property, said debt originating Jan when Skrable became the owner of the stock. They declare that the property is therefore subject to the debt They ask dismissal of Skrable's petition and ask that the injunction be dissolved. In Skrable's reply, he says that on July John Skrable. conveyed to: him lots 10. 11 and 12. on which he resided with his family using the premises as a until March 1911 when he sold them to Henry Pryne He claims that with the received from Pryne, he bought lots 1, 3. and and has since then them as homestead. Later he bought lots and with the proceeds of the sale of his former homestead. He declares for this reason that all of real estate on which E. Harris has levied is exempt from execution for the judgment of the bank receiver.