3575. First National Bank (Manchester, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4221
Charter Number
4221
Start Date
February 3, 1915
Location
Manchester, Iowa (42.484, -91.455)

Metadata

Model
gpt-5-mini
Short Digest
c0c39360

Response Measures

None

Receivership Details

Depositor recovery rate
80.9%
Date receivership started
1929-02-13
Date receivership terminated
1936-04-15
OCC cause of failure
Governance
Share of assets assessed as good
43.8%
Share of assets assessed as doubtful
43.8%
Share of assets assessed as worthless
12.4%

Description

No article describes a depositor run. Article (1915-02-03) explicitly calls it the failed First National bank of this city and discusses payment of a 30% dividend to depositors, indicating failure and liquidation/receivership. Court docket item (1915-12-15) references First National Bank of Manchester in litigation and names a receiver (A. R. Le Roy) appointed under bond, supporting that the bank was in receivership/closed. Cause of suspension/failure is not stated in the articles, so cause classified as 'other'. Dates for failure/receivership are not given explicitly in the texts; I use the publication date of the article reporting the dividend (1915-02-03) as the reporting date.

Events (4)

1. January 28, 1890 Chartered
Source
historical_nic
2. February 3, 1915 Suspension
Cause Details
Article does not state reason for failure/suspension; only reports depositors being paid a dividend after the bank failed.
Newspaper Excerpt
The depositors of the failed first National bank of this city are finally to be paid a dividend. They will get 30 cents on the dollar for their deposits after months of exasperating delays.
Source
newspapers
3. December 15, 1915 Receivership
Newspaper Excerpt
First National Bank of Manchester VS. Nicholls et al. Default. Trial to court. Judgment and decree as per signed decree on file. A. R. Le Roy appointed receiver under bond of $300.
Source
newspapers
4. February 13, 1929 Receivership
Source
historical_nic

Newspaper Articles (2)

Article from Manchester Democrat, February 3, 1915

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Article Text

Fort Dodge Masons soon will be co-oupying their fine new temple. At a meeting of the stockholders of the Masonic Temple association, reports showed that when all of the subscriptions are paid, but $4,000 will remain to be subscribed. The building is so arranged that two or more Masonic bodies may put on their work without interference. Fine club rooms are a feature of the building. The structure will cost about $36,000. Dorcas Brazzell of Dubuque, found guilty of murder in the second degree, charged with causing the death of her husband, Charles Brazzell, has been ordered liberated by the supreme court of Iowa. The court ruled that the evidence was circumstantial and not sufficient to warrant a conviction. Brazzell was a street car motorman. When found his skull was fractured and he had received other injuries. John A. Thomas of Des Moines was elected president of the Iowa State Master Plumbers' association at the closing session of the convention at Davenport. The next convention goes to Clinton. The other officers are James M. Wilson of Washington, vice president; Sidney C. Smith of Waterloo, secretary; W. D. Hagan of Sioux City, treasurer. The supreme court in an opinion handed down recently decided that one-third the amount collected is sufficient pay for an attorney, in ordinary circumstances. The case decided was that of the estate of Travers D. Munger, who was killed in a railroad accident two years ago. The lawyers had collected $1,875.35 and took half as a fee. The program committee for the eleventh annual Farmers and Grain Dealers association of Iowa convention to be held in Mason City February 8, 9, and 10, has issued an anti-booze edict. All secretaries and chambers of commerce are warned against turning their hotel rooms into barrooms for prospective shippers. According to a census by the county superintendent of schools, Audubon county has 4,208 children in the public schools of the county. This number represents 92 per cent of all the children between the ages of 6 and 20 in the county. The Methodist church people of Rockwell City are delighted over the fact that Andrew Carnegie has signified a willingness to donate $1250 toward the purchase of a pipe organ for the church to cost not less than $2,500. The date for the national rifle matches has been fixed for Oct. 15. Major Brookhart expects to call a meeting soon of the officers of the Iowa small arms practice department to plan Iowa's preparation for the matches. In a dense fog freight No. 96 on the Minneapolis & St. Louis, struck switch engine No. 203 in the yards at Mason City Sunday morning. Both engines were completely wrecked. The engine crews jumped. Pensions recently granted to Iowans are: Sarah A. Brown, Center Point, $12; Elmira Cutler, Whiting, $12; Phemia Judson, Onawa, $12; Hannah E. Goodrich, Lima, $12, and Magdalena Ohmer, McGregor, $12. Fire destroyed a portion of a block in the business district of Marshalltown, entailing a loss estimated at $100,000. The greatest loss fell upon J. Levin dry goods store destroyed. Loss $45,000 fully insured. The contract for the building of a dam at the lower end of Goose lake has been let by the managing committee of the Bever Island Hunting and Fishing club. This will facilitate the fishing possibilities. The Methodist church of Mason City is to start an innovation January 27 and will make a break into what might be called an institutional church. A gymnasium is to be installed in the basement. John Leber, the 8 year old son of George Leber of Fort Madison, who was struck by an automobile while on his way to school, died at Sacred Heart hospital two days later without regaining consciousness. The depositors of the failed first National bank of this city are finally to be paid a dividend. They will get 30 cents on the dollar for their deposits after months of exasperating delays. The parole department made its report to the governor showing fifty-one paroles issued during the year and suspension of jail sentences in fifty-nine cases. There were four pardons granted. Mrs. Laura E. Pike dropped dead at Ottumwa while at work at a washtub in the cellar of her home. The coroner said she died from natural causes. James Shunka, an employe of the college of medicine at the University of Iowa, fell down the stairway of the medical building and died instantly. The Morrell Packing company at Ottumwa will begin the erection of a modern hog cholera serum plant at the packing house within a few weeks. Mrs. Abraham Nygaard of near Hanlontown attempted to light a fire in the range, and used kerosene for a quickener. Her burns were fatal. The Shorthorn sale at the Plumb Brothers' pavilion was largely attended, several hundred farmers and stock buyers being present. Sixty-five head were sold to different buyers from seven states. The top price for males was $155 and for females $150, while the entire lot averaged $90. Maud Ashby, 17, daughter of R. M. Ashby, of Whitebreast township, Lucas county, killed herself by swallow.


Article from Manchester Democrat, December 15, 1915

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Article Text

COURT. T is in session The District dge George W. this week, with Tuesday the Dunham presiding trial jurv reported for duty, and the case of John Reilly vs. Theo. Polkamp was tried before a jury. The case grew out of a land deal between the parties, and was instituted to collect commission for the sale of a farm. The jury returned a verdict in favor of Mr. Pohlkamp. Mr. Reilly sued for the collection of agent's commission, asking for a judgment of $172. Since the December term convened last week, Judge Dunham made the following entries on the probate and law and equity dockets: Probate Estate Henry Dolly. Resignation of Mary Dolly submitted and accept-ed, and on petition of Mary Dolly, J. P. Sloan is appointed administrator. Bond fixed at $18,000. Report of Mary Dolly approved as her final report, and her bond is released and administrator discharged. Guardianship W. J. Joslyn. On presentation of petition for citation and removal of executor it is ordered that citation issue and executor is required to appear immediately before this court to report and answer requests of the court in matters of said estate. Estate Wm. Stock. Augusta Stock allowed $400 as widow's allowance. Estate Margaret A. Blair. Hearing set for December 17. Estate August Miller and George Flynn. Final reports approved. Estate Susannah Marsh. Will admitted to probate. H. R. Lemen appointed administrator with will annexed. Bond, $2,500. Guardianship Magdalena Eike et al. F. B. Blair appointed guardian ad litem for Magdalena, Arthur and Lena Eike. Guardian authorized to execute mortgage on terms stated in petition. Estate James McCullough. Agnes McCullough granted leave to file amendment to answer. Estate Esther L. Williams. Will admitted to probate. Addison G. Williams appointed executor without bond. Guardianship Ella May Pierce et al. Mother of wards allowed $50 for clothing for wards. Estate Annie E. Lewis. Final report approved and distribution ordered. of Estate Thos. B. Dunlap. Report sale and deed to Erminia Dunlap approved. Estate Jas. Milroy. Anna Milroy allowed $500 as widow's allowance. Law. A. M. Cloud VS. M. S. Beyer and Farmers' National bank of Pekin, Il linois. Trial to court. Judgment against Beyer for $152.24. Julia Roff VS. I. G. Roff. Plaintiff granted leave to amend peti-tion. American Insurance Co. VS. Ole Manson. Settled and dismissed. Hutchinson & Atwater VS. C. A. Sires Default A Hutchinson & Atwater VS. S. Giger. Settled Equity. Jos. Hutchinson VS. Elizabeth Hoag Barr et al. Motion for more specific statement. Council granted leave to present written briefs. Florence McGuire vs. Wm. F. Mc-Guire. Default. Divorce granted. Wm. and Henry Mangold vs. Elihu Todd et al. Default. Trial to court Judgment and decree as per signed decree on file. First National Bank of Manchester VS. Nicholls et al. Default. Trial to court. Judgment and decree as per signed decree on file. A. R. Le Roy appointed receiver under bond of $300. Bertha H. Hall VS. S. E. Haii. Default. Trial to court. Divorce granted. Plaintiff permitted to resume use of maiden name, Bertha Hydes. E. B. Stiles vs. Unknown Claimants. Henry Bronson appointed guardian ad litem for all defendants under all disability. Default against other defendants. W. H. Penfield VS. R. H. Bowers. Settled and costs paid. Criminal. State of Iowa VS. Frank Haight. Continued at request of defendant. State of Iowa vs. Eugene Williams. Continuod at request of defendant. State of Iowa vs. John Allen. Continued at request of defendant. State of Iowa vs. George and Grace in Herman. Defendants appear court in person and by their attorneys and state that they are indicted in their right names. Waive preliminary hearing and time to plead, and plead not guilty.