Sheldon State Bank - Sheldon, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 3, 1908
Location: Sheldon, Iowa (43.181, -95.856)

Metadata

Model: gpt-5-mini
Short Digest: 07bbb93e

Response Measures

None

Description

The articles describe the Sheldon State Bank having closed its doors (Nov. 3, likely 1908) and been in receivership under R. W. Ady. No article describes a depositor run; receivership was settled with dividend payments and the receivership closed. Dates: newspaper pieces are from April 1909; the reported closing date of Nov. 3 is prior to these articles (assumed 1908).

Events (3)

1. November 3, 1908 Suspension

Cause Details: Article states the bank closed its doors Nov. 3 but gives no contemporaneous cause for the suspension in the provided excerpts.
Newspaper Excerpt: an additional dividend ... of the Sheldon State Bank, which closed its doors Nov. 3.
Source: newspapers

2. April 9, 1909 Receivership

Newspaper Excerpt: The report of R. W. Ady as receiver of the Sheldon State Bank covering his business for the past four years, gives a picture of what an expensive luxury a bank failure is under our present system: After allowing expenses, he expects to be able to pay an additional dividend of 30 per cent to depositors, making a total of 73 per cent that the depositors will receive.
Source: newspapers

3. April 21, 1909 Other

Newspaper Excerpt: An additional dividend of 31.08 per cent has just been paid the depositors of the Sheldon State Bank, which closed its doors Nov. 3. ... A circular sent depositors by Receiver R. W. Ady states that this payment closes the affairs of the receivership of the bank.
Source: newspapers

Newspaper Articles (2)

1. April 9, 1909 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, April 9, 1909

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Article Text

Guess all you want as to how the vote will be today on the Payne taariff bill, but don't bet too heavily either way. * * * It is significant that the vote in congress on the tariff bill and adjournment of the Iowa legislature occur on the same day, and Friday at that. Neither even may prove disastrous, however. ... Pertinent to suggest that it is a good time to get out the King drag, and use it. If the new tariff bill should suit everybody, the very next thing announced would be that the millenium had arrived. *** Zeppelin succeeded in remaining up in the air twelve hours with his new flying machine. Well, that's longer than lots of people would care to stay off the earth. *** But think of the saving in gas bills and electric light that the Omaha saloons will effect under the new daylight closing law. About the only person in the Eleventh district who has complaint to make of Congressman Hubbard is some one about the Sioux City Journal office. ... The Sioux City Journal says "the latest lineup shows Iowa to be represented in the house of representatives by three republicans, one democcrat and seven whatyoumaycallems." Why not call 'em the next congressmen from their respective districts? That would suit them and have the added merit of being fact. ... Congressman Richmond Pearson Hobson is not less courageous or willing to risk political life for a principle than Lieutenant Hobson was to take a chance with the Merrimac. Whatever may be said of the Alabama congressman he is a type of the gamest men game America breeds. And she breeds a some good ones. *** L The report of R. W. Ady as receiver S of the Sheldon State Bank covering his n business for the past four years, / gives e as a picture of what an expensive luxe ury a bank failure is under our presS eit system: After allowing expenses, d he expects to be able to pay an additional dividend of 30 per cent to def positors, making a total of 73 per cent S that the depositors will receive. The e total receipts by the receiver are. as g from sale of bank building, $5,000; sale of Minnesota land, $2,500; other d sources, $117,558, making a total ren ceipt of $129,791. The receiver has n been paid $6,600, which is at the rate

2. April 21, 1909 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, April 21, 1909

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Article Text

DEFUNCT BANK DIVIDEND. Payment Closes Affairs of Receivership of Sheldon Institution. Special to Times-Republican. Sheldon, April 21.-An additional dividend of 31.08 per cent has just been paid the depositors of the Sheldon State Bank, which closed its doors Nov. 3. One and three-tenths per cent of this dividend is from the "stockholders" fund." The first dividend paid depositors was 43 per cent, which makes a total of 74.08 per cent paid depositors. A circular sent depositors by Receiver R. W. Ady states that this payment closes the affairs of the receivership of the bank.