3807. First National Bank (Spencer, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3898
Charter Number
3898
Start Date
November 13, 1926
Location
Spencer, Iowa (43.141, -95.144)

Metadata

Model
gpt-5-mini
Short Digest
97363199

Response Measures

None

Receivership Details

Depositor recovery rate
92.8%
Date receivership started
1927-06-25
Date receivership terminated
1932-12-01
Share of assets assessed as good
26.8%
Share of assets assessed as doubtful
67.1%
Share of assets assessed as worthless
6.1%

Description

Articles report the First National Bank of Spencer closed after an examiner's visit (Nov 1926). Subsequent items describe receiver activity and partial payments to depositors in 1927 and continuing receivership/receiver changes through 1929/1930. No article explicitly describes a depositor run; the bank was closed and placed in receivership, i.e., permanent closure.

Events (7)

1. June 12, 1888 Chartered
Source
historical_nic
2. November 13, 1926 Suspension
Cause
Government Action
Cause Details
Bank closed its doors after examination by the bank examiner; closure appears to follow examiner action.
Newspaper Excerpt
Bank at Spencer Closes. Spencer, Nov. The First National bank Spencer closed its doors this morning after examination by the bank examiner.
Source
newspapers
3. June 25, 1927 Receivership
Source
historical_nic
4. November 25, 1927 Other
Newspaper Excerpt
CLOSED BANK PAY 35 PER CENT. Spencer. The money has from Washington to pay per cent. depositors the First NaMonal here. ... Receiver Frank Corrick states that authorized by the comptroller ... will be released by this divi payment which will be paid against the bank.
Source
newspapers
5. December 1, 1927* Receivership
Newspaper Excerpt
Jones, has been of the National bank here since December, 1927. has been appointed receiver of the First National bank ... place Frank Correck, resigned Monday ... Receiver Frank Corrick states ... (article references receiver activity since December 1927).
Source
newspapers
6. January 11, 1929 Receivership
Newspaper Excerpt
Bank Receiver Appointed. Spencer, Jan. Jones, has been of the National bank here since December, 1927. has been appointed receiver of the First National bank place Frank Correck, resigned Monday ... (article dated 1929-01-12 describing receiver appointments/changes).
Source
newspapers
7. December 25, 1930 Other
Newspaper Excerpt
Charles Cuttell of Spencer, who/has been in charge of the First National bank as receiver since its closing in 1929, has been transferred to banks at Rock Rapids and Inwood.
Source
newspapers

Newspaper Articles (4)

Article from The Sioux City Journal, November 13, 1926

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Article Text

QUEEN ADMIRES YANKEE WOMEN (Continued from Page One.) with an hour and a half hiatus while the dinner was Queen Marle talks over WGN, the Chicago Tribune radio tomor. Her talk to go on the air some between and o'clock while she attending dinner the guest of the executive committee of The reply she tenders their overtures of welcome will be broadcast. Bank at Spencer Closes. Spencer, Nov. The First National bank Spencer closed its doors this morning after examination by the bank examiner. The Bank Everly, owned privately by the president of the First National bank of Spencer also was closed day. Buckey president the First National bank of Spencer. Boston Transcript: game always by the best team, an True, erally won by the better team.


Article from The Sioux County Index, November 25, 1927

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OSCEOLA CONTRACTS FOR ROAD GRAVELING Sibley, meeting of the of supervisMonday contracts for graveling were let for miles. The lowest bid received from Bing Bros. of Sac City, The first male cents and each additional onehalf mile for cents, this Includes screening. crushing and haulThe stripping let at 20 cents per The roads to be graveled lic south Ocheydan, and west of Ashton, The total expenditure and the total county road $2,358. BUYS ISLAND JUST FOR COON HUNTING hunters' paradise to established island in the South Skunk river. 20 miles south here. The Island, two miles long and rods wide. owned by Fred WagWaterloo, William Matthews, Detroit. Mich, and Clarence Gussford. Newton. The island was bought from Ross. This the second transfer since the time the owned the land. The of the owners of the island have place where their friends come for hound competition and the capture of coors. ARE NO OTHERS LIKE THESE INDIAN VILLAGES Cherokee, lecture primitive Indian, high Monday, Charles Keyes, Cornell college, Mt. Vernon, stated that the village sites along the Little Bloux river and tribuCherokee, and Bucounties, and related near the Big Sloux in Woodbury county, unlike anything known The pottery Algonquin nor any heretofore Identified type the The plements and weapons distinct those found in eastern Iowa not closely with those found South The people in earth lodges, the number lodges any discovered village site having been which, Keyes supposes might have RCcomodated population 600 sons. Keyes disposed attribute the ruins to the Mandans, the which tribe cated Fort Berthold, North Dakota HOWARD CLARK HAS EYES ON SENATE Des Moines, Howard Clark. republican candidate the last primary the office United States senator, candidate governor, he advised his close political friends. Mr. Clark informed those who sought his entry into the torial that he greatest opportunity for service in continuation efforts obtain national legislation favorable agriculture. This statement garded as meaning that Mr. Clark has aspirations to seek the office of United States senator in 1930. CLOSED BANK PAY 35 PER CENT. Spencer. The money has from Washington to pay per cent. depositors the First NaMonal here. will released by this divipayment which will be paid against the bank. Receiver Frank Corrick states that authorized by the comptroller the currency about days after the affairs the bank checked him by the tional bank examiner. INTEREST THE DAIRY An dairyman who dehighest possible butter fat content says: that regularity in milking and for one the of found that practice very commonly How easy sleep for hour longer on Sunday morning to stay in town hour later Saturday afternoon, but this little break in regular routine of the dairyman will soon the dairy herd on the decline production. Cows creatures of habit and will become nervous and restless fed or milked at regular times every day. They will not produce milk good advantage when in this restless condition. have found that varieties ferent grain feeds mixed together will much better returns though the higher. seems that cows will have better appetite and be less liable to feed" when they fed variety. mixture of 300 pounds oats, 100 pounds barley and 100 pounds bran with alfalfa hay and corn silage has been with good success. scoopful feed be weighed Intervals and cows fed accordingly. small scoop for this purpose can be easily made from piece of tin, piece board, and of an fork handle. have found that the poor care and feeding of the calves and dairy helfers is also cause of poor production. Young cattle kept in cold sheds out doors and fed roughages only, cannot grow and develop properly to make the best of Anyone should know that easier for large cow produce large amount of milk and butterfat than for small one produce the amount. Heifers to freshen at too young an also cause of poor herds. the summer months well though the pastures are Cows fed some grain the summer months produce betduring flytime and the season of short, dry pastures and the cows will also be better condition for freshening. Cows good condition at time of freshening will produce more and keep up better than cows that thin in flesh. The keeping of too many to common fault with many dairymen. small herd, well fed cared for, will Invariably produce better returns and net profits than large herds cared for and fed in haphazard way. cups for the cows have proved to very good investment. Dairymen are quick to realize that large producing cows have plendrinking water and have often, which they do not have when watered in tank outside. The saving labor alone would pay for the cups. summary of my experiences would be: Cows should have feeding and care. (2) variety grains should used in the Cows should be fed according their requirements and producing ability. (4) Calves and young should be well fed cared for. (5) High producing should be fed some grain while pasture. Herds should be small enough to be and cared for to produce the greatest profits. (7) Drinking very equipment good dairy farm. Cream separators oftentimes the poor profits from dairy herd therefore should be tested regularly. WHAT HAS DONE radio has made possible for every farm to in direct with the affairs of the world. the radio must mean more the farmer than any othcitizen. brings him music. formation concerning his business and discussions subjects of tional importance. advises him cerning weather, and brings storles and lullables to help send his young children to dreamland evident the farmer appreciates the radio for, to the United States department of there now farms equipped with radio receiving sets. On July there were little more than half million radio celving sets on the farm. At this JUST SUPPOSIN' "Suppose that this here vessel." the skipper with groan, 'should lose her bearings, run away, and jump upon stone. Suppose she'd shiver and go down, save selves We couldn't. The mate blow eyes. suppose again shouldn't Us all adopt the mate's yell, when supposin' we're headed straight Educate the young horses. Don't break them. bite often ruin the disposition horses. rate will not be many years before every farmer will have receiving and will be possible for person to talk the entire farm population of this country. The radio something that passes human and makes wonder what will be the next great invention. difficult to conceive anything that would be more value and than this invention which can pick music speeches from the We accept all this matter of course and to its mysteries and the enjoyment that brings to those who live on the farm. In survey made by the United Department of Agriculture gather facts concerning desires the farmer, was found that they prefer radio talks to music, nearly to formal answers dicate strong dislike for jazz. music, they want old time tunes and music. Aside from the educational farm programs, weather and market ports, political talks evidently popular and more current news grams are in demand. KEEP HOGS An English stock journal mud baths for pigs. Contrary to the opinion voiced by several authorities this country, this English paper declares that "muddy water, of the right kind, better for plgs than that which clean and pure." of the advantages the mud bath that pigs which are permitted to enjoy the luxury will rarely troubled with vermin during the summer months. and will thrive all the bet. for being free of and other insects which likely to worry this paper continues. in fact, no more easy method attaining this desirable end than to provide the pigs with some sort shallow pool which can filled water and cleaned out periodically. In most the pigs will introduce clent mud for themselves. but, not this should be done for them." Our American pig have pretty much come to the conclusion that the reason pig appears to enjoy the in mudhole on account of the mud but on account the water, and that the average self respecting pig would prefer to have his wallow filled with, clean, pure water to having filled with mud. There may be such thing as "clean mud," but our obserhas been that all mud dirty and most of one another. for the vermin, hogman prefers to keep off the hogs rather than leave up to the hogs to drown them in mudhole. Some of these pests don't too the season here, hog should make point that their hogs have access to plenty of good clean, pure water. Hogs suffer from heat more than most other domestic animals, particularly fat. concrete hog wallow doesn't great deal, and an important feature of the hog Care should be taken to see that does not get filled with contaminated mud. An occasional cleaning and refilling with clean water portant. As far as the mud bath concerned, prefer to leave for those English hogs which according to the London authority. thrive on Holds The table above how big make your silo, acres of (15 tons needed, number that can be fed pounds day for 180 days, and number needed keep silage fresh.


Article from The Sioux City Journal, January 12, 1929

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BOTH OF TREE TRIMMER'S ARMS BROKEN IN FALL Cherokee, Ia., Jan. Ed Farm, son of Swan Farm suf fered both arms above the wrists when he fell while en gaged in trimming tree. Mr. Farm's shoulder also was se verely bruised and the muscles torn from his ribs. He was unconscious until the following morning. Bank Receiver Appointed. Spencer, Jan. Jones, has been of the National bank here since December, 1927. has been appointed receiver of the First National bank place Frank Correck, resigned Monday and to his home in Lincoln, Mr. four banks this vicinity, Citizens National and First National here. First National of Terril, and the National of Terril. Farm Loan Body Elects. Spencer, Jan. 11.-Special: Farm Loan association Clay county, which operates under the Federal Land bank, Omaha, has elected officers for the coming year as follow: president; Lewis vice president; Chris Directors Harry Tibbetts, Riverton: Otto Lone Tree, and W. G. Heikens, Summit. Fire Officers Re-Elected. Logan, Ia., Jan. -Special: The held its annual and of the 40 members, were The other five being good there were no vacanto fill. Officers re-elected for the follow: President, Stern: chief, M. Harrison: secretry, E. Arthur, and treasurer, M. Humphrey. Emmet County Ploneer Dies. Estherville, In., Jan. Funeral for Lee, 84. pioneer Emmet will held o'clock after the home three miles north Mr. Lee survived by two daughters, Annie and Louise, sons, Carl, Art and Hans. All the children made their home with their father, with the exception of Hans, who resided in Estherville. Collects $18,523 in Fines. Orange City, Ia., Jan. According the records of the county, County Attorney Charles B. Hoeven, since January 1925, has collected $18,523 for the county in fines other accounts. He has secured 108 pleas of guilty in crimInal cases and no trials, and secured 44 pleas guilty to county attor ney's information. Stores Are Quizzing Patrons. Hawarden, Jan. 11.-Special: The retail committee of the Hawar-


Article from Globe-Gazette, December 25, 1930

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Given Charge of Banks at Rock Rapids and Inwood ROCKFORD, Dec. 25.-Charles Cuttell of Spencer, who/has been in charge of the First National bank as receiver since its closing in 1929, has been transferred to banks at Rock Rapids and Inwood. Mrs. Cuttell and Miss Phyllis Schaarf came Tuesday evening and with Mr. Cuttell left Wednesday for Spencer to spend Christmas. Mr. Cuttell will assume his new duties Friday.