Peoples Savings Bank - Marengo, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: August 1, 1932
Location: Marengo, Iowa (41.798, -92.071)

Metadata

Model: gpt-5-mini
Short Digest: 0ed270ea

Response Measures

None

Description

Article (Aug 11, 1932) states the American Savings Bank closed ten days earlier and has paid out 50% with prospects of further dividends — indicates the bank was closed and in liquidation/receivership (permanent closure). No run is described. Date of closure inferred as ~1932-08-01 from 'closed ten days earlier'.

Events (2)

1. August 1, 1932 Receivership

Newspaper Excerpt: The American Savings bank ... has paid out 50 per cent and may provide depositors with two more 10 per cent dividends.
Source: newspapers

2. August 1, 1932 Suspension

Cause: Government Action
Cause Details: Bank closed and is in liquidation/receivership; paying dividends to depositors under receiver supervision.
Newspaper Excerpt: The American Savings bank, which closed ten days earlier, has paid out 50 per cent and may provide depositors with two more 10 per cent dividends.
Source: newspapers

Newspaper Articles (1)

1. August 11, 1932 Quad-City Times Davenport, IA

Article from Quad-City Times, August 11, 1932

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Article Text

IOWA CO. 4-H SHOW PROGRAM IS COMPLETED Fourth Annual Three-Day Events Begins Aug. 22; Siefken Speaker. Special The Democrat Marengo, Ia., Aug. 11.-Plans for the fourth annual countywide 4-H club show in Iowa county, Aug. 22-24, were announced this week by County Club Agent R. W. Ashby, in charge of the event. Represented are 14 of 16 townonly the two inhabited by the Amana society226 farm boys and girls, 151 boys from nine clubs. In the livestock division L. W. Plager, Grundy Center, president of the Iowa State Livestock Judges' association, will select 10 from 74 calves, 30 from 133 pigs for entry in the Iowa State fair the following week. From girls' work by five clubs Grace Stevens Rylander of Muscatine will select one booth exhibit and one demonstration team for similar honors, and two individual exhibits in each of 19 classes. Dr. C. H. Herman, Amana, who annually donates his services will determine the healthiest among eight boys and five girls. In addition the livestock judging team whose results most nearly approximate those of Mr. Plager will earn the trip to Des Moines. Bank Settlement. Judge R. G. Popham has authorized public sale of remaining assets of the Peoples Savings bank Aug. 23 at p. m. Meanwhile any debt may be settled or adjusted with Receiver L. A. Andrews and withdrawn from the list. With other amounts collected since dividends totaling 75 per cent were issued, the proceeds will probably result in a final dividend of 5 to per cent. The American Savings bank, which closed ten days earlier, has paid out 50 per cent and may provide depositors with two more 10 per cent dividends. The First National bank, which went into receivership Feb. 14, 1926, liquidated 72.6 per cent. Appraise Creamery. A. W. McKusker, A. T. Akerman, and G. M. Guthrie, Marengo, have been designated by Judge R. G. Popham to appraise property of the Iowa Valley Creamery company preparatory to a public hearing Aug. 16 on its receivership. Henry Bendorf, representing the control-