Payment of a 10 per cent dividend to depositors of the Gwinner State bank was announced Saturday at the office of the receiver of state banks
Source
newspapers
2.*Suspension
Cause
Government Action
Cause Details
Bank placed in the hands of the state banking receiver (formal takeover/suspension by authorities).
Newspaper Excerpt
payment of a 10 per cent dividend to depositors of the Gwinner State bank was announced ... at the office of the receiver of state banks
Source
newspapers
Newspaper Articles (1)
1.February 6, 1932The Bismarck TribuneBismarck, Mandan, ND
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Article Text
DEPOSITORS GET DIVIDEND Payment of a 10 per cent dividend to depositors of the Gwinner State bank was announced Saturday at the office of the receiver of state banks
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.