Newhall Savings Bank - Newhall, IA

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: savings bank
Start Date: December 11, 1925
Location: Newhall, Iowa (41.996, -91.968)

Metadata

Model: gpt-5-mini
Short Digest: a31c8b4b

Response Measures

Full suspension, Books examined

Other: Bank made assessment on stockholders; local reorganization planned.

Description

Article reports an assessment for current losses that triggered gossip and heavy withdrawals (a run). State bank examiners closed the bank; headline indicates it will soon reopen. Bank type inferred as state savings bank.

Events (3)

1. December 11, 1925 Reopening

Newspaper Excerpt: NEWHALL BANK SOON REOPENS
Source: newspapers

2. December 11, 1925 Run

Cause: Bank Specific Adverse Info
Cause Details: Bank made an assessment on stockholders to cover current losses; gossip about the assessment sparked heavy withdrawals.
Measures: Following heavy withdrawals the bank was closed by state bank examiners.
Newspaper Excerpt: Assessment for Current Loss Starts Gossip and Run on Bank.
Source: newspapers

3. December 11, 1925 Suspension

Cause: Government Action
Cause Details: State bank examiners closed the bank after heavy withdrawals precipitated by the assessment and resulting run.
Newspaper Excerpt: The Newhall Savings bank ... has been closed by state bank examiners following heavy withdrawals of deposits.
Source: newspapers

Newspaper Articles (1)

1. December 11, 1925 Quad-City Times Davenport, IA

Article from Quad-City Times, December 11, 1925

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Article Text

NEWHALL BANK SOON REOPENS Assessment for Current Loss Starts Gossip and Run on Bank. Newhall, Ia., Dec. 11.-The Newhall Savings bank. capitalized at $50.000. has ben closed by state bank examiners following heavy withdrawals of deposits. The bank recently made an assessment on stockholders to take care of current losses, and gossip started a run on the institution. It is the first bank in Benton county to close in many years. Local men are planning on reorganizing or starting a new bank immediately. MILWAUKEE LIBRARY FACTS. Milwaukee ranks twelfth in size among the cities of the United States, but she stands eighth among the cities in the number of books circulated thru public library systems. In the cost per book of the circulation Newark stands at the top of thel ist with 44 cents a volume, while Milwaukee holds the bottom position with a cost of only 10 cents a book. Chicago has the largest library circulation, with more than 10,600,000 books issued in 1924. which means only 3.6 books for an inhabitant while Milwaukee averaged 5.5 books each inhabitan4 -Wisconsin Library Bulletin.