Article Text
INDEPENDENCE BANK RECEIVER'S COUNSEL IS APPOINTED Independence, Ia.-John L. Cherney has notice from Washington, D. C., that he has been appointed attorney for receiver in settling affairs the Buchanan County National bank.
3500. Buchanan County National Bank (Independence, IA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 13188
- Charter Number
- 13188
- Start Date
- July 1, 1932*
- Location
- Independence, Iowa (42.469, -91.889)
Metadata
- Model
- gpt-5-mini
- Short Digest
eb5e60df
Response Measures
None
Receivership Details
- Depositor recovery rate
- 91.0%
- Date receivership started
- 1932-08-01
- Date receivership terminated
- 1939-01-14
- Share of assets assessed as good
- 39.4%
- Share of assets assessed as doubtful
- 58.5%
- Share of assets assessed as worthless
- 2.0%
Description
The bank closed in July 1932 and a receiver was put in charge. Multiple articles across 1932-1934 describe receiver actions (appointments, sale of property, dividend payments). There is no mention of a depositor run; the closure and appointment of a receiver indicate a government-ordered suspension and permanent closure/receivership.
Events (8)
1.
March 17, 1928
Chartered
- Source
- historical_nic
2.
July 1, 1932*
Suspension
- Cause
- Government Action
- Cause Details
- Bank closed in July 1932 and placed in receivership (comptroller/receiver involvement).
- Newspaper Excerpt
- Mr. Jenkins has been in charge of the affairs of the bank since the closed in July 1932.
- Source
- newspapers
3.
August 1, 1932
Receivership
- Source
- historical_nic
4.
September 2, 1932
Receivership
- Newspaper Excerpt
- INDEPENDENCE BANK RECEIVER'S COUNSEL IS APPOINTED ... John L. Cherney has notice from Washington, D. C., that he has been appointed attorney for receiver in settling affairs the Buchanan County National bank.
- Source
- newspapers
5.
August 10, 1933
Other
- Newspaper Excerpt
- On a petition filed by W. E. Jenkins, receiver in charge of the Buchanan County National bank here on Aug. 10, the receiver has been directed ... to sell certain real estate owned by the bank ... for $5,700 cash. (article published 1933-08-14)
- Source
- newspapers
6.
September 22, 1933
Receivership
- Newspaper Excerpt
- Removal of W. E. Jenkins ... and appointment of E. E. Everett ... as a receiver for the Farmers National bank of Vinton and the Buchanan County National bank Independence.
- Source
- newspapers
7.
December 21, 1933
Other
- Newspaper Excerpt
- SECOND DIVIDEND IS AUTHORIZED FOR BANK ... Buchanan County National bank receivership has been authorized to second dividend ... (article published 1933-12-21)
- Source
- newspapers
8.
April 24, 1934
Other
- Newspaper Excerpt
- AUTHORIZES BUCHANAN BANK TO SELL PROPERTY ... R. W Hasner, of the district court, on petition of the receiver of the Buchanan County National bank here made authorized the receiver residence thereon ... offer was made by the Equitable Life Insurance company. (article published 1934-04-24)
- Source
- newspapers
Newspaper Articles (7)
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Article Text
FARM IS BY BANK'S RECEIVER Buchanan County Court Approves Offer of Independence Man for Rural and City Acreages. Independence, Ia.-On a petition filed by W. E. Jenkins, receiver in charge of the Buchanan County National bank here on Aug. 10, the reeciver has been directed by Judge A. B. Lovejoy the district court to sell certain real estate owned by the bank R. O'Brien of this city for $5,700 cash. The property consists of 80 acres known as the Nolan Bros. farm onehalf mile north of Independence in Washington township, and two lots, 17 and 18. in Railroad Replat addition to Independence, consisting of six acres The lots are now occupied by John Miller as nursery and dairy farm. The consideration was stipulated as $5,000 for the acreage and $700 for the lots.
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Article Text
BANK'S RECEIVER INDEPENDENCE IS ASKED TO QUIT Lawyers for Closed State Institutions Object to Removal by Court. (Courier Special Independence, Ia.-W. D. Jenkins, receiver in charge of the Buchanan County National bank here, has received request from Washington for his resignation as receiver. Mr. Jenkins has been in charge of the affairs of the bank since the closed in July 1932. No definite has been as to who will be his successor, but here that will be Ed Everett, cashier of Fairbank State bank. Law Firm Fights Ouster. Judge George Wood after a hearing in the district court here on Wednesday took under advisement the case of Molloy Smith, local firm attorneys, which objected to removal as counsel for the receivers of three State banks in Buchanan county. They were removed on the order of Judge Wood on Aug. 22, and R. J. O'Brien Democrat, was appointed in their place. Molloy & Smith objected to the proceeding on the grounds that the action was done without proper hearing and asked that the order removing them be set aside and that they be allowed hearing Banks Here and at Lamont. The three banks from which they were as attorneys are the bank of Independence and the Lamont Savings bank and the Farmer's State bank of Lamont.
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Article Text
BUYING COTTON Roosevelt Calls His Farm Advisers to Consider Proposals. Sept. ident Roosevelt today called in advisers consider the cotton purchase plan submitted yesterday by the conference southern Those summoned secretary Wallace and George Peek, the ministrator the agricultural justment act, and Senator Bankhead Alabama, leader in the cotton conference. The cotton belt states proposed the government purchase half of this year's crop still held by 15 cents pound, with the understanding that for every bale chased by the government the ducers will cut next year's crop that much. To all appearances the president looking favorably the proposal to lift Cotton prices, but there reason to believe he favors lower price for the purchases, nearer 12 cents pound. Named Bank Receiver. Sept. Everett, democrat, was appointed W. Jenkins, republican, as receiver for the Farmers National bank of Vinton and the Buchanan County National bank Independence
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Article Text
Name Fairbank Man As Bank Receiver VINTON Removal of W. E. Jenkins, republican, by the comptroller and appointment of E. E. Everett, democrat, a receiver for the Farmers National bank of Vinton and the Buchanan County National bank of Independence was announced Thursday. Everett is a resident of Fairbank, Ia. The Twentieth Century limited, operating between New York and Chicago, covers the 961 miles in eighteen hours at an average speed of 53.4 miles an hour.
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Article Text
SECOND DIVIDEND IS AUTHORIZED FOR BANK Independence, Buchanan County National bank ceivership has been authorized to second dividend which is to cent. Dividend checks will per sent direct from The Ed states that it be Feb. before the checks will received here by the depositors. This bank has made dividend before of per cent.
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Article Text
AUTHORIZES BUCHANAN BANK TO SELL PROPERTY Independence R. W Hasner, of the district court, on petiof the receiver of the Buchanan County National bank here made authorized the receiver residence thereon Doris, known block for $600. offer was made by the Equitable Life Insurance company. RADCLIFFE MAN DIES. Simpson died Sunday night his daughter Mrs. Dick Mr had been failing health for several months and death came result heart Surviving besides Mrs and Lem Zearing body taken former Madrid for