Farmers Trust Company - Sioux City, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: *
Location: Sioux City, Iowa (42.500, -96.400)

Metadata

Model: gpt-5-mini
Short Digest: c669e685

Response Measures

None

Description

Article (Bismarck Daily Tribune, 1902-05-17) reports that George H. Hollister was appointed receiver of the Farmers Trust Company of Sioux City, Iowa. The piece discusses a receivership and related litigation; no run or reopening is described. Classified as a suspension leading to closure/receivership.

Events (1)

1. * Receivership

Newspaper Excerpt: Long prior to the commencement of this action, the defendant George H. Hollister was, by an order made by a competent court of the state of Iowa, appointed receiver of the estate of said Trust company and after qualifying as such, Hollister took possession of the effects of said Trust company
Source: newspapers

Newspaper Articles (1)

1. May 17, 1902 Bismarck Daily Tribune Bismarck, ND

Article from Bismarck Daily Tribune, May 17, 1902

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Article Text

# THE COURT DECIDES SUPREME COURT HANDS DOWN DECISION IN A CASS COUNTY CASE. The supreme court, in an opinion written by Chief Justice Wallin, has affirmed the district court in the case of Woodhull vs. the Farmers Trust Company of Sioux City, Iowa, and George H. Hollister as receiver. The syllabus of the opinion is as follows: In this action both defendants are non-residents of this state and service was made by publication. The action is brought to recover damages for alleged breach of a contract made between the defendant Trust company and the plaintiff. Long prior to the commencement of this action, the defendant George H. Hollister was, by an order made by a competent court of the state of Iowa, appointed receiver of the estate of said Trust company and after qualifying as such, Hollister took possession of the effects of said Trust company, among which were seven interest coupon notes of the face value of $70 each. Said receiver, after taking possession of the notes in the state of Iowa, brought the same within this state for a lawful purpose and while the notes were in this state the same were seized by the sheriff under a warrant of attachment issued in this action. Upon motion made in behalf of the defendants, appearing specially, the district court by its order vacated the attachment and set aside the service of the summons. Held, that the order of the district court was properly made. It is a rule resting upon comity between the states that where a receiver, as such, has obtained rightful possession of personal property within the jurisdiction of his appointment, he will not be deprived of its possession when he takes the property, in the performance of his duty, into a foreign staet. When in a foreign jurisdiction the property cannot betaken by attachment from the receiver's possession by creditors of the insolvent debtor. An opposite rule would prevail where a seizure of the property is made by a creditor prior to the appointment of the receiver or prior to his taking possession within the state of his appointment. (Syllabus by the court.) The plaintiff appeals from an order of the district court of Cass county, Charles A. Pollock, judge. John E. Greene, attorney for appellant. Ball, Watson & Maclay, attorneys for respondents.