Commercial National Bank (Columbus, NE)

Episode Information

Episode Type
Suspension → Closure
Start Date
January 23, 1933
Location
Columbus, Nebraska (41.430, -97.368)
Bank Type
national
Charter Number
5180

Metadata

Receivership Details

Depositor recovery rate
84.0%
Date receivership started
1933-01-24
Date receivership terminated
1938-06-02
Share of assets assessed as good
29.5%
Share of assets assessed as doubtful
60.4%
Share of assets assessed as worthless
10.1%

Notes

Closed voluntarily by directors; receivership followed within days.

Events (4)

1. February 24, 1899 Chartered
Source
historical_nic
2. January 23, 1933 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed by directors due to heavy and frozen assets, indicating solvency issues.
Newspaper Excerpt
Commercial National bank... closed Monday by its directors. Heavy and frozen assets are blamed.
Source
newspapers
3. January 24, 1933 Receivership
Newspaper Excerpt
George G. Cronkleton named receiver of the Commercial National bank here. C. W. Lyon... in charge since the bank was closed voluntarily by its directors last week.
Source
newspapers
4. January 24, 1933 Receivership
Source
historical_nic

Newspaper Articles (3)

Article Text

Columbus National Closed by Directors

Commercial National bank, business institution dating back to 1888, closed Monday by its directors. Heavy and frozen assets are blamed. Deposits totaling $427, 412 were reported by the bank in its last call. D. A. Becher, mayor of Columbus, was president, and H. A. Vierguts, cashier. D. A. Becher, George W. Galley and G. W. Vierguts comprised the directorate. Capital stock was $50,000.


Article Text

G.G. CRONKLETON NAMED COLUMBUS BANK RECEIVER

George G. Cronkleton of Hastings has been appointed receiver of the Commercial National bank here. C. W. Lyon, national bank examiner in this district, has been in charge since the bank was closed voluntarily by its directors last week.


Article Text

Drawn abroad to attend the impending marriage in Paris of her cousin, the Count Rene de Chambrun, to Jose Laval, daughter of the French premier, Mrs. Alice Longworth will take her daughter Paulina on a tour of France, England and Switzerland. They are shown as they sailed from New York.

Offices Moved—Offices of the Nebraska Rural Rehabilitation Corporation for Platte county and for District No. 4 of Nebraska have been moved to the office of the county assessor on the first floor of the court house. The corporation formerly had office space in the headquarters of the Platte county emergency relief administration on the second floor of the Svislowsky building at Thirteenth street and Twenty-third avenue.

Marriage Licenses—A marriage license was issued at the office of County Judge Speice this morning to Linton L. Ellwein, of Fergus Falls, Minn., and Dorothy Borneman, of Columbus, the marriage ceremony to be performed Aug. 4 by Miss Borneman's father, Rev. H. L. Bornemar, pastor of Christ Lutheran church, northeast of this city. Two marriage licenses were granted yesterday—one to Lieut. Kenneth E. Ristau, of Knoxville, Tenn., and Frances Besch, of Columbus, who were married this morning, and the other to Gustav E. Labens and Wilhelmina Siefken, both of Columbus, who plan to be married Aug. 12 at St. John's church.

Bank Dividend—George C. Cronkleton, receiver of the Commercial National bank here, advises that checks in payment of the fourth dividend to the depositors of that institution who have filed claims and such claims have been approved, will be ready for distribution at the bank Thursday, Aug. 1, beginning at 9 o'clock in the morning. "It is hoped," Mr. Cronkleton urges, "that the creditors will call at the bank for their checks promptly." This fourth dividend to depositors totals $27,062.74 and brings the aggregate dividend paid thus far to $200,726.32, or 70 per cent since the bank suspended in January, 1933. Other dividends will follow during the winter, it is stated.

Unique Lawn—Columbus householders who are having their troubles in maintaining a verdant lawn during the present heat wave are interestedly watching the experiment of Dr. O. G. Clark at his home, 1471 Twenty-eighth avenue. A year ago Dr. Clark began his experiment by transplanting buffalo grass of early-day history from plots he found south of the Platte river to the south side of his lawn. This year that portion of his yard where the native buffalo grass was planted presents a thick mat of grass blades, which have a healthy green color despite the heat. The next phase of his experimenting was the planting of other buffalo grass roots in rows in the front portion of the lawn, which will spread until this ground also has a thick matting of the grass. "The hotter it is the better the buffalo grass seems to thrive," said Dr. Clark. "The only trouble with it is that it doesn't start growing as early in the spring as other grasses and turns brown a little earlier in the fall."

Charles Chada Dies — Charles Chada, 41, residing at 2517½ Eleventh street, died suddenly at 6:30 p. m. yesterday at his home. Although he had been in poor health for the last week, his death came as a distinct shock. He suffered a heart attack late in the afternoon and died a short time later. It was believed his heart was aggravated by the intense heat. He was born on June 24, 1894 at Madison, Neb., and was left an orphan in infancy. He made his home with the nuns at Humphrey and St. Bernard, and later in Grand Island. When he grew to manhood, he came to Columbus, and was employed for a few years as clerk at Hotel Evans. On Nov. 23, 1918, he was married to Miss Hannah Ludwig, in Columbus, and with the exception of a short time after their marriage when they resided in Omaha, while he was taking a course in barbering, they have resided here. He has practiced his trade ever since completing his course. He was a member of the Sons of Herman lodge. His widow is his only survivor. Funeral services will be held at 2 p. m. tomorrow at the McKown Funeral chapel, with Rev. G. E. Forssell, pastor of the Baptist church, officiating. Burial will be made in Columbus cemetery. The body will lie in state at the funeral home until the hour of the services.

In Police Court—Three men were fined $10 and costs, each, following hearings in police court Tuesday on charges of intoxication. The men were Frank Kasper, Richland; Ed Turpin, Chambers, Neb., and D. Sullivan, Boston. Kasper and Turpin paid their fines but Sullivan, unable to do so, was taken to the county jail. George W. Nowak, St. Joseph, Mo. was fined $10 and costs for intoxication today and was committed to the county jail. Kasper was taken into custody by Patrolman Smagacz and Traffic Officer Nickolite and Turpin, Sullivan and Nowak, by Patrolman Smagacz.