Merchants Bank (Livingston, MT)

Episode Information

Episode UID
7197017291591
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
719701729 hash
Start Date
July 1, 1932
Location
Livingston, Montana (45.662, -110.561)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
29752d2eec79fc40

Response Measures

None

Description

Articles state the bank closed July 1 and is in liquidation under a superintendent-appointed agent.

Events (2)
1. July 1, 1932 Suspension
Cause
Government Action
Cause Details
Bank closed and placed in liquidation under the superintendent of banks with a liquidating agent handling claims and dividends.
Newspaper Excerpt
The local bank closed its doors on July 1st of the present year.
Source
newspapers
2. November 5, 1932 Receivership
Newspaper Excerpt
The superintendent of banks has declared a dividend of 15 per cent payable on all claims ... by depositors of The Merchants Bank of Livingston, according to announcement made by Liquidating Agent F. N. Sauer.
Source
newspapers

Newspaper Articles (2)
1. November 5, 1932 Livingston Enterprise Livingston, MT
Article from Livingston Enterprise, November 5, 1932

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Article Text

DIVIDEND The superintendent of banks has clared dividend of 15 cent payclaims filed prior to Novem1st of The Merchants ber by depositors Bank of Livingston, according nouncement made last night by LiquiSauer. The dividend dating Agent will be distributed by the liquichecks Thursday, November dating agent offices The Merchants the The local bank closed its doors Bank. July tst of the present shows that The report of the agent months period since the during the four income the trust bank closed, the made up of amounts to interest rent collectional assets, liquidation to tions. The expenses resulting amount to depositors of profit been collected There has of the bank, which the cent of the total imately 30 per of the sources, with the the bank the time estate carried This accounted for by of suspension. follows: to the agent postal savings secured county and of legal fees claims agents' salaries other expenses and cash hand of announced last night that The agents have claims, aggregating since the filed by 1st. This dividend, suspended July expected to totaling the creditors very to general of this bank. the present adverse Considering banking department ditions, Sauer and and its agents, much praise credit deserve the which the liquidation for manner being handled.

2. November 10, 1932 The Big Timber Pioneer Big Timber, MT
Article from The Big Timber Pioneer, November 10, 1932

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Article Text

MERCHANTS BANK WILL PAY 15 PER CENT DIVIDEND Livingston Enterprise: The superintendent of banks has declared a dividend of 15 per cent payable on all claims filed prior to November 1st by depositors of The Merchants Bank of Livingston, according to announcement made by Liquidating Agent F. N. Sauer. The divident checks will be distributed by the liquidating agent on Thursday, November 17, at the offices in The Merchants bank: The local bank closed its doors on July 1st of the present year. The report of the agent shows that during the four months period since the bank closed, the income of the trust amounts to $5,912.35 made up of additional assets, interest and rent collections. The expenses of liquidation to date amount to but $2,273.37, resulting in a net profit to depositors of $3,638.98. There has been $71,388.26 collected on the assets of the bank, which is approximately 30 per cent of the total resources. with the exception of the real estate carried by the bank at the time of suspension. This is accounted for by the agent as follows: Disbursed to pay city. county and postal savings secured claims of $20,460.81; legal fees, $130; liquidating agents' salaries, S725; other expenses, $1,398.37, and cash on hand of $46,654.28. The agents announced last night that claims aggregating $300,000 have been filed by the depositors since the bank suspended. This dividend of $45.000 is expected to be very gratifying to the general creditors of this bank.