3612. Helmer & Gortner State Bank (Mechanicsville, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 23, 1932
Location
Mechanicsville, Iowa (41.904, -91.255)

Metadata

Model
gpt-5-mini
Short Digest
4353c42e

Response Measures

None

Description

Articles (Sept 1932 and July 1933) describe the Helmer & Gortner State Bank in liquidation with a receiver (L. A. Andrew) and depositors objecting to the receiver's final report and retention of the local examiner. No run is described; the bank is in receivership/liquidation and therefore closed permanently.

Events (2)

1. September 23, 1932 Receivership
Newspaper Excerpt
case brought by L. A. Andrew, receiver for the Helmer and Gortner State bank of Mechanicsville, against A. H. and E. B. Moffitt, former officers and directors of the bank, The receiver seeks to recover $6158. alleged to have been withdrawn from the bank while It was insolvent and later articles about objections to the final report of L. A. Andrew, receiver of the bank (July 1933).
Source
newspapers
2. September 23, 1932 Suspension
Cause
Government Action
Cause Details
Bank placed in receivership and liquidation (receiver L. A. Andrew) after insolvency; action by receiver/examiner to liquidate the bank.
Newspaper Excerpt
L. A. Andrew, receiver for the Helmer and Gortner State bank of Mechanicsville
Source
newspapers

Newspaper Articles (4)

Article from The Muscatine Journal, September 23, 1932

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Article Text

Scott to Hear Cedar County Bank Case Davenport (AP) Judge W. W. Scott of Davenport will preside at the Cedar county district court at Tipton during the coming week for trial of case brought by L. A. Andrew, receiver for the Helmer and Gortner State bank of Mechanicsville, against A. H. and E. B. Moffitt, former officers and directors of the bank, The receiver seeks to recover $6158. alleged to have been withdrawn from the bank while It was insolvent


Article from Quad-City Times, July 19, 1933

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Article Text

OBJECTORS TO BANK RECEIVER FILE PETITION Mrs. Laura Garrett Butler, OmaSummerwill Removal at hat, is visiting her son, J. B. GarMechanicsville Sought; rett. Mrs. Beulah Luckey and sons, Tipton News. Bobbie and Billy Mrs. J. A. Har- Special The Democrat Tipton, la., July 19.-H. P. Gray, Joseph Boyd and C. M. Mitchell, Mechanicsvill depositors in the Helmer and Gortner State bank there have filed objections to that portion of the final report of L. A. Andrew, receiver of the bank, which recommends the continuance of Ben S. Summerwill as receiver in charge. No basis for their objection was stated. Church Social Tuesday in ice cream social and dance will be held at the Cedar Valley quarry, popular local swimming pool, Tuesday evening, July 25, sponsored by St. Joseph's Catholic church of Cedar Valley. Class Has Picnic. The members of the Berean class of the Methodist Sunday school entertained their families at a picnic on the D. L. Diehl lawn, 50 attending. An informal program was presented. Coal Contract Let. Contract for coal for the Cedar county home and court house for the year was awarded by the supervisors to the Tipton Brick and Tile company at its bid of $6.10 for eastern Kentucky egg coal, f. 0. b. Personal Briefs Mr. and Mrs. Carl Hollman and daughters, North Platte, Neb., are visiting Mrs. Hollman's uncle, William T. Gilmore. Mr. and Mrs. Lee Hillegass, Chi cago, and Mrs. Emma Reese and Miss Gertrude Sproat, Tipton. are on an automobile trip to Sublimity, Ore., where they will spend several weeks.


Article from The Muscatine Journal, July 24, 1933

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Article Text

Bank Report Hearing Being Held at Tipton Tipton Hearing on the final report L. A. Andrew, of the Helmer and Gortner State bank of Mechanicsville, which was scheduled to have been held week, was continued Judge John T. Moffit until today. The hearing being held before Judge H. Ring of Cedar Rapids, came Tipton for the while Judge Moffit went to Cedar Rapids to for court matters there. Objections were filed by H. P. Gray, Joseph Boyd and M. Mitchell, depositors in the Helmer and Gortner State bank. Objection was made only to that portion final report which recommends continuance of Ben S. Summerwill as receiver in charge. Colds, diphtheria, measles and scarlet fever, in the order named, are the four most common diseases.


Article from Quad-City Times, July 25, 1933

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Article Text

DEPOSITORS OF CEDAR CO, BANK CRITICIZE COST Mechanicsville Receiver's Retention Attacked; J. W. Koahn Dies. Tipton, la., July 25.-Hearing of objections to the final report of L. A. Andrew, receiver for the Hel mer and Gortner State bank, Mechanicsville, filed by three depositors, was delayed yesterday when further objections were filed, signed by 40 other depositors. Objections were made to the salaries and expenses in the liquidation, the retention of Ben S. Summerwill as examiner and the suggestion made that the local examiner, R. S. Kirkpatrick, be transferred and assist ent examiner, Milo Novy, be left in charge at salary of $100 a month. The petitioners alleged the liquidation could be carried on by one person spending half his time in the bank and the other half at outside work. John W. Koahn. Funeral services for John W. Koahn, who died Sunday, were held in the Wilson chapel this afternoon with Rev. W. E. Van Buren, officiating Burial was in Wood. bridge cemetery near Buchanan. Mr. Koahn was born in Cedar county April 9, 1852, and lived here all of his life. He leaves no near relatives. He had lived alone and, Friday, neighbors alarmed because he was not about his place entered the house and found him stricken with paralysis. He never regained consciousness and died Sunday Boys To Visit Chicago. The Rev. Otis Moore, will have charge of group of 25 members of the Bennett Scout troop and other young men of his parishes in Bennett, South Bethel and Rochester, on a three-day visit to Chicago, Aug. 7. The boys will be transported in a large truck, owned by Donald Johnston. County Officials Team. Cedar county officials have organized a kittenball team. W. H. Naber, assistant county engineer is pitcher and County Attorney William M. Dallas, catcher. Cecil Langmann, deputy county auditor, plays first base; County Auditor Hermann Onken second base; R. O. Zimmerling, county engineer, third base; Melvin Marks, deputy sheriff, short stop: Howard Hamilton, clerk of the district court, left field: Peter Belgard, deputy clerk, right field and W. W. Christian, county sheriff, centerfield. Deputy Treasurer H. H. Puck, will be substitute and County Treasurer J. M. Blazek, manager. The first game will be played with a Stanwood team in Stanwood this evening. Explain Farm Loan. Arthur Lund secretary for the Federal Loan Association of Cedar county, will explain the workings of the new farm mortgage act in Hotel Tipton at 8:30 Wednesday Bureau Play At Fair. "Balanced Diet," the farm bur eau play which won first place in the Cedar county drama contest last December, will be presented by the Fairfield township farm bureau cast, at the State Fair. Des Moines, Aug. 28. The cast includes