American Savings Bank - Maquoketa, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: October 2, 1931
Location: Maquoketa, Iowa (42.069, -90.666)

Metadata

Model: gpt-5-mini
Short Digest: 3600b04e

Response Measures

None

Description

The bank is reported as 'closed' on 1931-10-02; no run is described. A receiver is in place and paid a dividend in Apr 1932, indicating permanent closure and receivership. Cause of suspension not specified in the articles (classified as 'other').

Events (2)

1. October 2, 1931 Suspension

Cause Details: Article only reports that the bank 'closed today'; no explicit cause (e.g., run, government action) is given.
Newspaper Excerpt: MAQUOKETA, Oct. 2. American Savings bank closed today. The deposits were $948,000 and capital $100,000.
Source: newspapers

2. April 1, 1932 Receivership

Newspaper Excerpt: The court has signed an order calling for the of cent dividend by the receiver the American Savings bank of Maquoketa which closed last Oct. This the first dividend be paid by the bank's receiver.
Source: newspapers

Newspaper Articles (2)

1. October 2, 1931 Globe-Gazette Mason City, IA

Article from Globe-Gazette, October 2, 1931

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Article Text

DEPOSITORS PUT MONEY BACK IN Third Day "Run" on Bank at Davenport Calms Down to Handful. third day "run" on the Union Savings Bank and Trust company. Davenport's only downtown bank which was started following an announcement on Monday by the American Savings Bank and Trust company. of 60 day withdrawal notice. calmed down today and only handful of depositors appeared to withdraw their money. Bank officials said that many of those who had withdrawn their funds were returning them following a public announcement by more than 10 business houses yesterday that they would guarantee the deposits of their employes in the bank yesterday almost equalled withdrawals and confidence was expressed on all sides today that conditions in the Tri-Cities had returned to a normal basis. Glenville State Bank Closes. GLENVILLE, Minn., Oct. The State bank of Glenville closed its doors today by order of the board of directors to conserve the assets. The institution was capitalized for $10,000 and had deposits of $125,000. Truro Savings Closes. TRURO, Oct. (P)-The Truro Savings bank of Truro, Madison county, was closed today. It had deposits of $85,000 and was capital ized at $20,000. Bank at Maquoketa Closes. MAQUOKETA, Oct. 2. American Savings bank closed today. The deposits were $948,000 and capital $100,000. West Liberty Bank Closes. WEST LIBERTY, Oct. 2. (P)The Citizens Savings bank hers closed today. Deposits were given as $160,000.

2. April 1, 1932 Quad-City Times Davenport, IA

Article from Quad-City Times, April 1, 1932

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Article Text

MAQUOKETA SCHOOL BOARD COMMITTEES HAVE Maquoketa, Ia., April Bess Wendell appointed her committees last evening, at the reguthe lar of the school board, when the organized board met the March meeting. The entire board membership on the TO teacher committee, with H. Gale Buchner as chairman; Mrs. Pulley, chairman, and Dr. Ben. Phillips and Anderson, nance Anderson, chairman, and Mrs. Pulley and Mr. Buchner, house and grounds ning. mittee; and Phillips, chairman, and Mrs. Pulley and Mr. Buchner the supplies committee. Nothing done about the elec- choir tion teachers, nor other business affairs except routine business, last night. Maquoketa Bank Pays, The court has signed an order calling for the of cent dividend by the receiver the American Savings bank of Maquoketa which closed last OctThis the first dividend be paid by the bank's receiver.