3577. Manilla National Bank (Manilla, IA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
6041
Charter Number
6041
Start Date
October 1, 1925*
Location
Manilla, Iowa (41.890, -95.232)

Metadata

Model
gpt-5-mini
Short Digest
b85ad5c0

Response Measures

Full suspension

Other: Receiver appointed and operated the estate; multiple receivers mentioned (Oscar Helgerson resigned 1928; later receiver actions and litigation into 1932).

Receivership Details

Depositor recovery rate
58.5%
Date receivership started
1925-10-20
Date receivership terminated
1932-12-16
OCC cause of failure
Economic conditions
Share of assets assessed as good
26.5%
Share of assets assessed as doubtful
44.1%
Share of assets assessed as worthless
29.4%

Description

Newspapers report a run on the Manilla (Manila) National Bank in Oct. 1925 (article links run to a cashier's suicide). The bank failed/closed in October 1925 and a receiver was appointed; receiver remained in place (resigned 1928) and receivership actions continued into 1932. Sequence: run → suspension/closure with receiver. OCR in some articles spells the town 'Manila' or 'Manilla'; I use the provided 'Manilla.' Cause of the initial run is not specified in the snippets, so I mark the run cause as 'other' and the suspension cause as bank-specific failure following the run.

Events (5)

1. December 5, 1901 Chartered
Source
historical_nic
2. October 1, 1925* Receivership
Newspaper Excerpt
Manilla bank receiver since failure of the institution in Octo1925; receiver for the Manilla National bank of Manilla, Iowa ... the Manila National bank recently was forced to close its doors and the hearing here yesterday was a part of the receivership proceedings.
Source
newspapers
3. October 1, 1925* Run
Cause Details
Newspaper states a 'run on institution' in Manilla in Oct. 1925 but does not describe a specific trigger (rumor or other).
Measures
None described in the articles; subsequent failure led to receiver appointment.
Newspaper Excerpt
RUN ON INSTITUTION AT MANILA, IOWA, Held Responsible for the Act.
Source
newspapers
4. October 1, 1925* Suspension
Cause
Bank Specific Adverse Info
Cause Details
The institution failed/closed in October 1925 following the run; a receiver was appointed for the failed bank.
Newspaper Excerpt
receiver for the Manilla National bank since it failed in 1925; failed in Octo[ber] 1925
Source
newspapers
5. October 20, 1925 Receivership
Source
historical_nic

Newspaper Articles (5)

Article from Lincoln Journal Star, October 5, 1925

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Article Text

BANK CASHIER A SUICIDE Run on Institution at Manila, Iowa, Held Responsible for the Act. DENISON, Oct. the bank he cashier blamed by friends the act of suicide Frank Manila, of today. He shot himjust before the Manila bank, which will not Monday, to Slyke's officials tonight. bank has been the Slyke with the institution twentytwo years.


Article from The Sioux City Journal, February 19, 1928

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Article Text

MANILLA BANK RECEIVER BUYS BANK IN DECORAH Manilla. Feb. HelgerManilla bank receiver since failure of the institution in Octo1925, resigned and leaves March for Decorah, where he has purchased interest in National bank of Decorah and will act as Helgerson also resigned the receivership of bank in LaPorte City, to which he had just been signed. The old and its capital stock $50,000. MANILLA PLANS TO LAY PAVEMENT COSTING $64,000 Manilla, Feb. The Manilla will meet March to objections paving Twenty blocks included the program. The first paving, blocks, was laid last fall cost and cent of the cost has been paid in cash by property owners. The town has secured permission from Budget Director Hogue to $5,500 light funds to pay for part of the first paving. Will Pay Third Dividend. Alta, Feb. The closed Alta State bank will issue its third to 10 per cent, about the National bank will its dividend, or about during week March. This per cent for the Alta State bank and 55 cent the First National bank. Both banks closed their doors in 1926. Opens Alta Grocery Store. Alta, Ia., Feb. opened new grocery store in Alta. He operate the grocery in connection with chicken hatchery. This will give Alta three groceries and two stores handling Sheehan will open his fourth store Alta about March He occupy the building being vacated by the liott cash and carry, which closing. Highway In Primary System. Onawa, Ia., Feb. Citiliving the towns vicinities through which the road passes, have petitioned the Monona county board of supervisors convert the road into primary one.


Article from Omaha Sunday Bee-News, February 19, 1928

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Article Text

Bank Receiver Resigns. Manilla, Ia., Feb. -Oscar Helgerson, receiver for the Manilla National bank since It failed in 1925, has resigned and will be connected with the National Bank of Decorah, in the northeast part of the state.


Article from The Sioux City Journal, February 25, 1928

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Article Text

IS WRONG Declares Iowa Will Vote for Dry Candidate. Washington, Dan Steck's statement predicting that Iowa democrats would support Gov. Smith of New York for the presidency merely an expression of his own desires rather than true appraisal the situation, in the view of Edwin Meredith, United States secretary of agriculture. Apprised of Senator Steck's declaraMoines, following the tion in Des democratic state committee meeting, the former secretary of agriculture serted Steck was out touch the Iowa and has not time to sound out the sentiment during his short visit to the state. Calling attention Senator Steck that could interest called party support anyone the didate's views," Mr. Meredith said: "Iowa democrats and Iowa as state are interested in didate has on the great such as taxes and tariff, and also on policy and foreign They are not sympathy with Tammany hall and its methods. "Iowa state is dry. Iowa deis the sentiment the state is presentthe delegation. will be delegation which will vote only for dry candidate. The propaganda party chance to win with Smith has had its effect on some opportunof whom Senator Steck COURT ACTION OVER $58 BULL FINALLY IS ENDED LeMars, bull about finally has to close in district court here, jury returned verdict Jim Sordrager, who sued by his the ownership of the bull, Roberts. Roberts claimed that Sordrager sold the bull for $58 whereas his real value $100. Sordrager replied that bull had broken of the pen while Roberts' care, and ranged around the country and had herd bull. He also claimed that had tried to reach settlement with his partner and had been unable to The jury awarded Roberts $27, which than the costs of the case, which he must pay. CHEROKE YOUNG WOMAN IS INVENTOR OF BROODER Chrokee, Feb. Miss Agnes Cherokee the chicken brooddevice designed eliminate all danger from fire or direct conwith heat, and obtain even heat of moderate degree with but lit attention. The principle involves furnace square house, opening or larger opposite sides, like tunnel, the flue running up through the middle of the house. floor material top of the furnace, through comes heat. The grate the ground near the opening, attached lever pulls the outer up to any desired height to regulate the draft. NINE HEIRS DIVIDE BIG ESTATE OF OLD VET Traer, Ia., Feb. heirs John Tama farmer civil war who died intestate, dividing acres $75,000 money and credits through amicable The estate goes three brothers, three nephews and nieces. The land free debt. value estate estimated at between $250,and $300,000. Schaller Has Luncheon Club. Schaller, Feb. luncheon ganized in the Elk men aim the to and protect the welfare Schaller vicinity. different chairman will preside the which will be every two weeks. Named Manilla Bank Receiver. Manilla, Feb. Carl Foster, Guthrie Center, has appointed Na. tional bank, goes to take his work in Clare Heater, Foster, active charge of the Manilla stitution. Father Expires. Manilla, Fred died his home after brief illness from held here. children. One stricken with spinal meningitis


Article from Montpelier Evening Argus, March 5, 1932

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Article Text

LEVY ON BANK STOCKS Iowa Bank Receiver Brings Action In Vermont A hearing was held yesterday afternoon at a special session of United States district court in the proceedings brought by Joseph A. Gamble of Washington, D. C., receiver of insolvent national banks who is receiver for the Manila National bank of Manila, Iowa, against the estate of Susan A. Shaw, late of Morrisville. George L. Hunt of this city appeared as attorney for Receiver Gamble and, Fred G. Fleetwood of Morrisville was attorney for the Shaw estate. The suit involved an assessment on bank stock of the Manila National bank. The stock was owned by the Shaw estate. The Manila National bank recently was forced to close its doors and the hearing here yesterday was a part of the receivership proceedings. The hearing was held before Judge Harland B. Howe of Burlington.