3883. First National Bank (Williams, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5585
Charter Number
5585
Start Date
July 1, 1930
Location
Williams, Iowa (42.488, -93.545)

Metadata

Model
gpt-5-mini
Short Digest
e1595a84

Response Measures

None

Receivership Details

Depositor recovery rate
29.6%
Date receivership started
1930-07-01
Date receivership terminated
1934-06-30
Share of assets assessed as good
23.4%
Share of assets assessed as doubtful
74.6%
Share of assets assessed as worthless
2.0%

Description

No run is described. 1930 article (Des Moines Tribune, 1930-07-04) states the First National Bank at Williams failed to open Tuesday and a national bank receiver was notified to take charge — indicates a suspension with receiver (closure). Earlier 1900 article notes the bank commenced business then, but the relevant event is the 1930 suspension/receiver.

Events (3)

1. September 24, 1900 Chartered
Source
historical_nic
2. July 1, 1930 Receivership
Source
historical_nic
3. July 1, 1930 Suspension
Cause
Government Action
Cause Details
Bank failed to open (did not open Tuesday); national bank receiver notified to take charge.
Newspaper Excerpt
Nevada-Bank Receiver Melvin Royer, national bank receiver who has his headquarters in Nevada, was notified Thursday that he is to take of the First National bank at Williams, which failed to open Tuesday.
Source
newspapers

Newspaper Articles (2)

Article from Evening Times-Republican, November 16, 1900

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Article Text

DEATH OF HON. W. H. M. PUSEY. Pioneer Settler and Capitalist of Council Bluffs. Council Bluffs, Nov. 16.-William H. M. Pusey, of the private banking firm of Officer & Pusey, now in the hands of receivers, died yesterday at the state insane asylum at Clarinda, where he was committed Oct. 10. William H. M. Pusey was born in Washington county, Pa., July 29, 1826. He was of English Quaker ancestry, his forefathers having settled in Philadelphia with William Penn. He graduated at the Washington and Jefferson College in Washington, Pa., in 1847, and removed to Iowa in 1856. From that time until his death his home was in this city. He formed a partnership with Thomas Officer, his brother-in-law, and they conducted a private banking business from 1857 until the death of Mr. Officer in September of the present year and the illness of Mr. Pusey made the appointment of receivers necessary. Mr. Pusey was elected state senator in 1858 from the Pottawattamie senatorial district then embracingtwenty-seven counties bordering on the Mississippi river. In 1882 he was elected to congress from the Ninth Iowa congressional district. Mr. Pusey leaves a widow and three children-Mrs. Ella Pinney, of this city; Frank S. Pusey, of Denver, and Mrs. Kate McGee, of this city. Williams. Special to Times-Republican. Williams, Nov. 16.-Miss Kate Hood, of Independence, is visiting at Rev. Wylie's. The State Bank is moving into their new building. They have the nicest corner in town and the best building of any town of this size in Iowa. The First National Bank commenced business last Monday. They have E neat building and a good room well furnished to do business in. J. D. Fiddler expects to move in next week where the State Bank moved out. J. F. Warham has built a new sidewalk in front of his livery and feed barn. Ben Loveline, five miles north of town, has sold his 120-acre farm to F. J. Gade at $45 per acre. County Superintendent Gerber was visiting the city schools Monday. L. Martenson, who was operated on at Merch hospital, Des Moines, is expected home today. much improved in health. Mr. and Mrs. A. C. Clark, who have been on a three weeks' visit to Boston, Mass., are expected home tonight. Their son, Hon. R. G. Clark, of Webster City, is here to meet them. Supervisor J. P. Tuttle is attending a meeting of the board this week at Webster City. Ralph Mallory was in Webster City Wednesday.


Article from Des Moines Tribune, July 4, 1930

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Article Text

IOWA NEWS BRIEFS Eagle Grove-Funeral Funeral services were held Thursday for John Montgomery, 72, pioneer resident of Goldfield. who died Tuesday as a result of heart attack. He is survived by his widow and two daughters. Vera Montgomery of Storm Lake and Mary Montgomery of Ames. Clear Lake-Bound to Jury Laurence Duckert, Clear Lake farm employe. who was arrested Wednesday night on a charge of forging two checks, has been bound the district court grand jury and is being held in jail in default of $1,000 bonds. Rites Funeral services for Mrs. Sybil Norton. 54, who died Wednesday, will be held here Saturday Burial will be at Fonda. Mrs. Norton is survived by one son, Dale Norton of Spencer, and three daughters, Mrs. Geneva Gaard of Milwaukee. Wis., Mrs. Dorothy Foley of South Bend. Ind., and Carolyn Norton of Laurens. Newton-Church Schedule The first meeting on the summer schedule of union church services will be held Sunday with the Rev. W. R. Moore of the First Presbyterian church delivering the sermon. The services will be held at D. m. each Sunday at the Newton Junior High school building during July and August. Iowa City-$1,500 Gift A gift of $1,500 to the University of Iowa college of dentistry library from the Carnegie Foundation was announced here Thursday. Under a series of grants of the same kind the foundation is seeking to further dental research in various American educational institutions. Forest City-Boman Funeral Funeral services for Mrs. Peter Boman, 72. were held Fri day at the First Baptist church here. Burial was at the Swedish cemetery. Mrs. Boman nioneer residen to Forest City, is survived by her husband, three sons and two daughters. Nevada-Bank Receiver Melvin Royer. national bank receiver who has his headquarters in Nevada, was notified Thursday that he is to take of the First National bank at Williams, which failed to open Tuesday. He is in charge of banks at Nevada, Ctory City and Sambridge. Nevada-Club Installs Lester F. Martin was installed as president of the Nevada Rotary club to succeed George H. Kellogg Wednesday. Other officers installed were Howard F. Sones, A Whale of HOSIERY The "spirit of '76" still lives -thought this minute it may be lolling in hammock, sipping or getting all set to shoot off the skyrockets for its evening entertainment.