4042. Weiser National Bank (Weiser, ID)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8139
Charter Number
8139
Start Date
June 1, 1924*
Location
Weiser, Idaho (44.251, -116.969)

Metadata

Model
gpt-5-mini
Short Digest
ee40b3d3

Response Measures

None

Receivership Details

Depositor recovery rate
22.2%
Date receivership started
1924-06-23
Date receivership terminated
1930-07-14
OCC cause of failure
Economic conditions
Share of assets assessed as good
11.8%
Share of assets assessed as doubtful
38.8%
Share of assets assessed as worthless
49.4%

Description

Articles state the Weiser National Bank suspended business on June 21, 1924, was placed in receivership and remained defunct; a receiver (John H. Smith / E. E. Church later mentioned) handled assets and paid a 10% dividend in 1926. No contemporaneous run is described; failure appears driven by bank insolvency and related asset shortfalls (deficiency judgments).

Events (7)

1. March 15, 1906 Chartered
Source
historical_nic
2. June 1, 1924* Receivership
Newspaper Excerpt
John H. Smith, receiver of the Weiser National bank... (articles refer to receiver handling estate and later paying dividends).
Source
newspapers
3. June 21, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failure/insolvency following consolidation with First National; assets were insufficient (sale brought ~$30,000 vs large liabilities); led to receivership and deficiency judgments against former officials.
Newspaper Excerpt
The bank was suspended June 21, 1924.
Source
newspapers
4. June 23, 1924 Receivership
Source
historical_nic
5. September 29, 1926 Other
Newspaper Excerpt
DEFUNCT WEISER BANK PAYING FIRST DIVIDEND ... the comptroller of currency has ordered the first dividend of 10 per cent to be paid depositors and that dividend checks are being issued on proper receipts. The bank was suspended June 21, 1924.
Source
newspapers
6. December 31, 1926 Other
Newspaper Excerpt
E. E. Church, receiver the Weiser National bank, business visitor in Boise Thursday.
Source
newspapers
7. March 13, 1927 Other
Newspaper Excerpt
An appeal will be taken from the decision of the United States district court in the case of John H. Smith, receiver for the Weiser National bank of Weiser against Herman Haas... The suit was the outgrowth of the failure of the Weiser National bank in June, 1924.
Source
newspapers

Newspaper Articles (5)

Article from The Rathdrum Tribune, October 3, 1924

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Article Text

D F. Banks, state treasurer, IIceived a check for $18,256 72 from J. J. McCue. attorney for the United States Fidelity & Guaranty company, covering that company's liability for funds lost when the Welser National bank closed its doors recently. The state public utilities commission has ordered the O. W. Railway company to construct a spur track at Black Lake in Kootenai county in response to a petition by ratchers who claimed they had 00 facilities for loading cordwood, stulls, etc., for shipment. Senator Borah's name can legal's be considered as on the Progressive party nomination certificate, according to the ruling of Attorney General Conner. The senator's name bad been s'ricken off the list of nominers by some one after the convention, but is being replaced by affidavits. Verdict of acquittal for C F. Larson, Payette, former cashier of the Payette National bank, whose trial on au indictment charging witapplication and abstraction of funds and false reports to the comptroller of the currency started Sept. 18 in U. S. district court at Boise was returned by a jury Sept. 23. In a signed statement F. A. Jeter, secretary of state, says the 1925 legistature will be asked to change the motor vehicle law so as to eliminate the truck rate in licensing Ford runabouts which have a small box at the back. He says he will ask the governor to refund the $7.50 to each owner who paid truck license on such cars.


Article from The Idaho Statesman, September 29, 1926

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Article Text

DEFUNCT WEISER BANK PAYING FIRST DIVIDEND has been made by John H. Smith, receiver of the Weiser National bank to the effect that the comptroller of currency has ordered the first dividend of 10 per cent to be paid depositors and that dividend checks are being issued on proper receipts. The bank was suspended June 21, 1924. HOLD FUNERAL SERVICES. services will be held the Robinson funeral chapel Wednesday afternoon at o'clock for Nicholas Fox, aged 93 years, who died Sunday morning the of his daughter, Mrs. Margaret Johnson, Thirteenth avenue and Third street north, the Rev. Butterworth, pastor of the Christian church, conducting the services. Mr. Fox is survived by five sons and three Mrs. Margaret Johnson and John Fox, both of Nampa; Fred Fox and Mrs. Bessie David, of California; Albert and Charles Fox of Iowa, Adam Fox of Minnesota and Mrs. J. R. Freidenger Pocatello.


Article from The Idaho Statesman, December 31, 1926

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Article Text

BRIEF CITY NEWS Bank Receiver Here-E. E. Church, receiver the Weiser National bank, business visitor in Boise Thursday. He was caller at the federal court during Takes Homestead Nelson Thursday filed 40 acres of desert land in Payette county, located section 10, township north, range west. Loses Ames ported police Thursday that his light gray overcoat stolen sometime during Wednesday night from his home, State street Year's of the Columbian club will be home" members friends from afternoon. The past presidents will receive the guests by the officers Sisson E. Sisson of Portland, former commissioner of education for Idaho, who now tending the teachers' being held was regular luncheon of Boise Rotary club Thursday noon. Several teachers from guests the club. Upham Broadcasts H. Upham, the University Idaho, spoke by radio Thursday night the Boise high school station. His state wide Fourt, field for the division of the university, Prisoner Bound Over Mike Glavota, with the prohibition bound over Thursday United States district court by Wright Stacy, of the peace, the preliminary ing from the United States commissioner's Forward Construction ment of the federal mation fund by the New York irrigation was reported Thursday by officers of the district. This the total due from the district this year, and the first time in years, said, when there have Year's Eve Busiclub the Columbuilding this at o'clock. The and guests will attired mother daughter, and be special stunts evening 1mpressive watch party midnight. flashlight picture be taken at Collides With Street street car into the back car when stopped her machine right way approaching tomobile, Mrs. Manson Thursday. The accident happened Thursday afternoon Main street near Tenth. The tire carrier and fender on Mrs. Manson's car damaged. Accepted Minof 1612 North Fifth street, and Lloyd Hanson Clark, of Willow street, who for service and passed preliminary examinations here, have successfully passed the nal examination Lake, said William Hendry, recruiting officer Thursday. They Diego for naval service.


Article from The Idaho Statesman, March 13, 1927

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Article Text

RECEIVER OF BANK WILL APPEAL CASE Former Officers of Defunct Weiser Bank Are Defendants in Action to Collect. An appeal will be taken from the decision 0 fthe United States district court in the case of John H. Smith, receiver for the Weiser National bank of Weiser against Herman Haas, George W. Nesbit and Bernard Haas, It was announced Saturday by counsel for the defendants, following a hearing before Judge C. C. Cavanah when an order of sale of the banks' assets was confirmed and a deficiency judgment totalling $248,000 e against the defendants. The sale of assets was held last week by Frank Breshears, United States marshal, and brought approximately $30,000, being for most part securities held by the bank at the time It suspended business. The deficiency judgment represents the difference between what the assets brought and the amount which former District Judge F. S. Dietrich held should be recovered, approximately $278,000. The decision of the court was handed down December 31, 1926. The suit was the outgrowth of the failure of the Weiser National bank in June, 1924, a little more than year after Its consolidation with the First Natlonal bank of Weiser. The three defendants were formerly officials of the First National, and were alleged to have entered an indemnity agreement which the bank's receiver claimed obligated the men for large sum which should go into the receivership's estate. others. The suit was to recover on a note. S. R. Miller was awarded judgment of $3135.18 against Carl A. McKimmy and others in a foreclosure proceeding over a note. Rollo C. Fry was awarded judgment in suit to quiet title to land in Ada county The defendants were Hiram Ames and others. The Boise Valley Packing company won judgment in its suit against John P. Gray and others to quiet title to land in Ada county. Judgment was entered in favor of the Federal Land Bank of Spokane in its suit against E. D. Shaw and others on an action to reçover money alleged due on note. The divorce action of Letisha A. Winn against Joseph W. Winn, which was filed in district court Thursday, was dismissed Saturday on motion of the plaintiff. POLICE COURT. Joe McCarthy and Pearl Prohl, arrested March 6 on statutory charges, were tried in police court Saturday and found not guilty. C. G. Young and Harry S. Bower, both charged with violations of the parking ordinance, were warned. O. F. Rankin and J. H. Fulner, separately charged with exceeding the speed limit, were each fined $10. N. P. Patterson, charged with speeding, was fined $6. Mrs. P. Tayler, John Rader and H. J. McGirr, all charged with violations of the parking ordinance, the first two forfeited $1 bond each and McGirr was fined $1: BUILDING PERMITS. G. H. Carbridge, to excavate basement and erect two flues and install a furnace at 1707 Idaho street at cost of $400. C. P. Wilson, to reroof frame dwelling at 1118 East Jefferson street at a cost of $275. Howard Day, to reroof frame dwelling at 2316 Woodlawn avenue at a cost of $250. UNITED STATES LAND OFFICE. Noah Minor, Weiser, Saturday filed a homestead application in the United States land office for 320 acres in section 25, township 12 north, range 6 west, Boise Meridian. REAL ESTATE TRANSFERS. John C. Nelson and Frances E. Nelson, oBise, to Laura Chaney, Boise, a 40-foot lot in block 116 original townsite of Boise; consideration $2200. INDUSTRIAL ACCIDENT BOARD. The board Saturday closed 26 claims for compensation under the terms of the workmen's compensation act. The following claimants received awards aggregating more than $100: Frank Taylor, Orofino, employed by L. R. Olson, $708; loss of thumb and two first fingers of left hand. J. C. Cook, Firth, employed by Ida-


Article from Baker City Herald, March 15, 1927

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Article Text

Receiver of Bank Will Appeal Case An appeal will be taken from the decision of the United States district court in the case of John H. Smith, receiver for the Welser National bank of Weiser against Herman Haas. George W. Nesbit and Bernard Haas, it was announe ed Saturday by counsel for the defendants, following hearing before Judge C. C. Cavanah when an order of sale of the banks' sets was confirmed and deficiency judgment totalling $248,000 entered against the defendants. The sale of assets was held last week by Frank Breshears, United States marshal, and brought approximately $30,000. being for most part securities held by the bank at the time it suspended busi ness. The deficiency judgment presents the difference between what the assets brought and the amount which former District Judge F. S. Dietrich held should be recovered. approximately $278000. The decision of the court was handed down December 31, 1926 The suit was the outgrowth of the failure of the Weiser -National bank in June 1924, little more than year after its consolidation with the First National bank Weiser. The three defendants were formerly officials of the First Nation al. and were alleged to have en tered an indemnity agreement which the bank's receiver claimed obligated the men for large sum which should go into the ceivership's