Security Savings Bank - Valley Junction, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: October 10, 1934
Location: Valley Junction, Iowa (41.569, -93.710)

Metadata

Model: gpt-5-mini
Short Digest: 099493de

Response Measures

None

Description

Article (Oct 10, 1934) reports a receiver (D. W. Bates, state superintendent of banking) in charge and court permission to force open safety deposit boxes because furniture and fixtures have been sold. No run is described; bank is in receivership and appears permanently closed.

Events (1)

1. October 10, 1934 Receivership

Newspaper Excerpt: the bank receiver, D. W. Bates, state superintendent of banking, might drill the boxes open if necessary ... furniture and fixtures have been sold and must be turned over to the purchaser
Source: newspapers

Newspaper Articles (1)

1. October 10, 1934 The Des Moines Register Des Moines, IA

Article from The Des Moines Register, October 10, 1934

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Article Text

ORDERS BANK BOXES OPENED Judge Herrick Rules on 13 Tills in Valley Junction. Thirteen safety deposit boxes in the Security Savings bank of Valley Junction were ordered opened, by force if necessary, by District Judge A. A. Herrick Tuesday. The court order held that as the 13 box owners had failed to open them and the furniture and fixtures have been sold and must be turned over to the purchaser, the bank receiver, D. W. Bates, state superintendent of banking, might drill the boxes open if necessary The order listed these owners of the safety deposit tills: William Kindelsperger, C. W. Miller. C. M. Purdue. F. E. Moddy, Sam Epstein, William Petty, Mrs. Floy Newsome, H. Spencer, Ed Jordan, George Robinson. E. R. Whitney. F. D. Hadden estate and W. H. Gavin.