Grimes Savings Bank - Grimes, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: May 3, 1934
Location: Grimes, Iowa (41.688, -93.791)

Metadata

Model: gpt-5-mini
Short Digest: 2c7e6fcf

Response Measures

None

Description

Article (Des Moines Tribune, 1934-05-03) refers to the 'receiver of the Grimes (Ia.) Savings bank', indicating the bank was placed in receivership and thus closed. No mention of any depositor run is present. Date of suspension not specified in the article; only litigation involving the receiver is described.

Events (2)

1. May 3, 1934 Receivership

Newspaper Excerpt: attorney fees claim ... against the receiver of the Grimes (Ia.) Savings bank, in connection with his services for the bank in its suit against Maggie McHarg, was being heard Thursday by Judge Allan A. Herrick.
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Bank was placed in receivership (closed by authorities); article refers to receiver handling bank affairs.
Newspaper Excerpt: attorney fees claim ... against the receiver of the Grimes (Ia.) Savings bank
Source: newspapers

Newspaper Articles (1)

1. May 3, 1934 Des Moines Tribune Des Moines, IA

Article from Des Moines Tribune, May 3, 1934

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Article Text

Lawyer Fee Suit on Trial Myerly Asks $5,750 From Bank Receiver. The attorney fees claim of John G. Myerly for $5,750 against the receiver of the Grimes (Ia.) Savings bank, in connection with his services for the bank in its suit against Maggie McHarg, was being heard Thursday by Judge Allan A. Herrick. As attorney for the bank in the McHarg case, which was in litigation for 12 years, Myerly told the court he spent 200 days in court, appearing three times before the Iowa supreme court and once before the United States supreme court. Myerly is asking that his claim be declared lien on the judgment against Mrs. McHarg, which amounts now to approximately $12,000. including interest, he said The Grimes bank brought suit against Mrs McHarg on notes signed for her for purchase of stock in the Associated Packing Co., the bank having bought the notes from the packing firm. In defense to the suit, Mrs. McHarg charged fraud in the sale of stock.