3972. Commercial & Savings Bank (Mountain Home, ID)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
September 27, 1920
Location
Mountain Home, Idaho (43.133, -115.697)

Metadata

Model
gpt-5-mini
Short Digest
efd7b8b4

Response Measures

None

Description

Article (Jan 6, 1921) states the Commercial & Savings Bank of Mountain Home closed ... September 27 by order of the state and will pay depositors in full. No run is described for this specific bank in the provided articles. Therefore this is a suspension by government action that led to closure (receiver/official action). Date interpreted as 1920-09-27 per the text referencing closure on September 27 prior to the Jan 1921 article.

Events (1)

1. September 27, 1920 Suspension
Cause
Government Action
Cause Details
Closed by order of the state (state bank commissioner/authority ordered closure on Sept. 27).
Newspaper Excerpt
The Commercial & Savings bank closed of Mountain Home, which was September 27 by order of the state, will pay its deposit tors in full.
Source
newspapers

Newspaper Articles (2)

Article from The Filer Record, January 6, 1921

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Article Text

e The citizens of Burley will vote shows on question of Sunday picture 5. the it bond election January Frank the H. Gooding will become junior 15 by from Idaho on January Davis the appointment senator of Governor of sixth annual convention as The Cattle and Horse Growers Buise Idaho sociation will be held at on January + and 5. Applications for renewals received of leases in state lands are being according increasingly on targe numbers, commules other. H. Name state land been to Givens of Boise has judicial Raymond judge of the Third P. appointed to succeed Judge Charles the suMcCarthy. district, who was elected to term. court for a four-year his preme Idaho's dairy industry in all tenth as will be discussed at the and peris annual conference of agricultural held as engineering interests, to be 10 to It Nampa. the week of January in. Three men paid a total of court $150 ⑉ besides costs. in police tack Buhi fines, because they found 24 leaky I of Buhl's "Itd" and. after pariaking hands in the forbidden drink, tell into the of the police. Dan Redheart, an Indian, was Jalues mis for a deer and shot by taken while the fatter was hunting above Moore Etk creek. about fifteen miles result on Alsahka. Redheart died as a of the wound. The completion of the Bonneville is courthouse at Idaho Falls all county but accomplished. The treasurer, clerk assessor, recorder and county will move their offices into the new building January 9. It is estimated that a million Idaho tons of hay will be moved out of the during the next few months, as result of the order of the interstate the commerce commission reducing freight rates thereon. The Commercial & Savings bank closed of Mountain Home, which was September 27 by order of the state, will pay its deposit tors in full. accord G. ng to H statement issued by John Fralick, state bank commisMomer. The state educational Institutions and the two electrosynary institutions will spend H total of $3,365 47.98 during the biennium of 1921-22 if appro- for priations which they are asking their budgets go through the legis lature. Verlyn. son of Clyde Horn, of Arenn. with 28 serious accident last week met when he fell on 28 pitchfork while feedthe stock. He was rushed to Caldwell ing hospital. where he underwent an operation. An intestine had been punctured. Large numbers of unemployed men have gathered in Lewiston. The prob lem of taking care of them is a difficult one, NS there is little demand for labor. Many skilled workmen are unemployed, NS the building season has vitinally closed. Another movement is on foot by the citizens of the southeastern porIlon of Jefferson county for the annexation of the northeastern part of Bonneville, Antelope. Swan Valley, Erwin, Grand Valley and Mud Springs, according to report. Marvin Motroe, 24. son of Dr. James Monroe. Buhi, and a Rhodes scholar<hip man. has been taken by his father o the state mental hospital at Blackfoot for-treatment for acute dementia. used by shellshock suffered during service in France in October, 1918. The sheep industry in Idaho is just about where it was numerically ten years ago, according to figures an nounced by the census bureau. When census was taken last January the bureau found 2,356,270 sheep on farms and ranches of Idaho as against 2,110, #0 ten years ago. The University of Idaho is this winer providing profitable employment for the spare time of the farm 145 in the form of the opening of the second term of the school of practical agriculture on January 3. The term will run for the tell weeks of the slack winter season on the farms The Pocatetio Chamber of Commerce is communicating with Buhl. Twin Falls and other commercial bodies the Twin Falls railroad branch as to the slong bettering railroad facilities 11 that direction. While before the round trip could be made in one day, now It inkes two from Poestelle. Crops worth $3,461,339 were saved from destruction by ground squirrels 11 1919 and 1920. through the rudent control work of the extension division. in co-operation with the federal gov promment. countres and farm bureaus, says a statement from the office of the extens's division, based on the biennial report of Director 1. W. Fluharty, Reports from the Magie dam show that the storage of water for the Gooding and Big Wood River irrigadistricts is much greater of last at this that Con year thee. This than year there are more than 12,000 aere Yeet stored in the while at the


Article from Mountain Home Republican, December 10, 1921

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Article Text

UNITED CLOSED ITS DOORS TUESDAY NIGHT Slump in Values of Live Stock Combined With Run Made Action Necessary. Efforts at Reor"ganization. The First National bank failed to open its doors Wednesday morning, a typewritten statement posted on the door stating that the closing was by order of the directors for the protection of the depositors. A run Tuesday depleted the cash of the bank almost to the vanishing point of of and that the the deposit expectation Elmore the Wednesday officers county would be called ifor morning were controlling factors in the decision to close. Inquiries by one of the bonding companies, which leaked out and became public, started the run, and of a bank several assistants, came the with presence who examiner in Monday evening, helped it along. A meeting was called at the Weaver theatre Wednesday afternoon at which the examiner offered some ex. planatory remarks and proposed a plan for reorganization. Worth S Lee was elected chairman of the meeting and A. F. Anderson secretary, and on motion by F. M. Hobbs the chair appointed a committee of five to nominate a committee of ten to act with the bank examiner and the directors of the bank in effecting a reorganization. The committee consisted of O. E. Cannon, Fred Bennett, H. L. Braden, F. M. Hobbs and S. F. Gedney. A recess was taken while the committee delibrated and after ten minutes the meeting was again called to order to listen to a motion that ..adjournment be taken until Thursday afternoon to give the committee more time to delibrate. The motion was carried. The adjourned meeting Thursday afternoon lasted but a ifew minutes. The committee of the day before reported their list of ten nominees for the reorganization committee, and on motion of Dr. Hamilton the list was adopted without a discenting vote. The bank examiner, Mr. Lo gan, stated that the committee should be able to call another meeting and report to the depositors within a day or two. The committee selected was composed of the following: Worth S. Lee, stockman; R. W Smith, merchant, Fred Bennett, merchant; O. E. Cannon, accountant; S. F. Gedney, banker, Elko, Nev.; J. W. Morton, merchant; R. R. Osborn, merchant; John F. Gaines, stockman; H. L. Braden, merchant; F. M. Hobbs, county auditor. The committee was summoned to meet immediately with the directors of the bank, and take up their important work of reorganization. The plan proposed for reorganization is broadly, that the stockholders shall surrender their stock and pay in to the bank the face value of the stock in cash, which is their 11ability under the law. That the depositors shall then exchange their deposits for stock to the amount of $100,000, the present capitalization of the bank, or such capitalization as is necessary to take care of the obligations and make the bank safe. This will provide the means of taking up $100,000 of doubtful and worthless paper, and reduce the liabilities of the bank by that much and by $100,000 of present deposits Then the paper taken up would be pooled in a seperate fund and as it is collected the depositors who waive would be either paid off or the former stockholders would be reimbursed. The First National bank was organized in the middle nineties and bought out the Stockgrowers bank about ten years ago, and for a number of years was the only bank in Mountain Home. The Commercial and Savings bank was organized in 1916 and was closed in 1920, since which time there has been but the one bank here. The officers and directors of the First National on the date of its closing, were: Will T Montgomery, president; Ernest Blunk, vice president; A. F. Anderson, cashier; Casper Hein and Worth Montgomery, directors.