Northwest Davenport Savings Bank (Davenport, IA)

Episode Information

Episode UID
72001371596
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
7200137 routing
Routing Number
72-0013
Start Date
December 24, 1932
Location
Davenport, Iowa (41.524, -90.578)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ccb1c7e52295c899

Response Measures

None

Description

Closed by state examiners and placed in receivership; articles show no contemporaneous depositor run.

Events (1)
1. December 24, 1932 Suspension
Cause
Government Action
Cause Details
State banking department examiners placed the bank in charge and the institution was closed and placed in receivership.
Newspaper Excerpt
The bank suspended business on Dec. 24
Source
newspapers

Newspaper Articles (15)
1. December 27, 1932 Quad-City Times Davenport, IA
Article from Quad-City Times, December 27, 1932

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In Charge of 3 Small Banks Examiners Working Today at Home, Northwest and Bettendorf. Affairs the Home Savings bank Northwest Davenport Savings bank Davenport, and the Bettendorf Savings bank Bettendorf under control receivtoday, the decisions of the officers of the three institutions liquidate. The Home Savings bank the Northwest bank action announced Monday, while the Bettendorf officers met Monday afternoon to make their decision to All three of banks were closed today and the rep. resenting the state banking department placed in charge. amount which the depositors will realize known until the examiners complete their report. Carl Trout, deputy superintendent banking, and Bruce Town send, in charge of the distribution receiverships, were in Davenport today. Rodine placed in charge of the Home Savings bank Joe Snover took over the Northwest bank. Poffenbarger examiner charge the Bettendorf bank. All of the state banking department. Everything quiet at the three outlying banks this morning. people gathered the Bettendorf bank and after reading notice on the door quietly dethe parted. The same existed at the two banks in Davenport.

2. January 27, 1933 The Daily Times Davenport, IA
Article from The Daily Times, January 27, 1933

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News in Brief Nineteen high school seniors from Buda, III., township school will pay an educational visit to Davenport next Monday afternoon, when they will visit industrial plants and other points of interest here. Mr and Mrs Charles Uhl. 1017 Grand court, Davenport, have received word of the birth of a son to their son and daughter-in-law, Mr and Mrs Lester J. Uhl, of Canton, O. The baby was born on its father's birthday, Jan. 21. The Fairbanks Morse Co. of Chicago and Washington is the lowest bidder on the contract for furnishing and installing platform scales for the new Davenport postoffice, it was announced by A. M. B. Rider, government construction engineer. Two divorces were granted in Scott county district court Thursday. Mrs Maxine L. Lakers, 19, was given a divorce from Joseph F. Lakers, 20, on grounds of cruelty, and Mrs Elizabeth Hartley was granted a divorce from Benjamin Hartley on the same grounds. Residents of Lincoln township have petitioned the Scott county board of supervisors to authorize oiling of a four-mile stretch of highway in the township during 1933. The road has been brought to grade and it is claimed that the highway serves a large area of the northeast part of the county. Attorneys John P. Weir and A. G. Sampson have been appointed as additional counsel in the receivership of the Northwest Davenport Savings bank. They will assist Attorney L. E. Roddewig in legal affairs of the bank receivership. The appointments were authorized today by District Judge W. W. Scott. A hearing for the purpose of acting on application of W. P. Peterson for return of three life insurance policies held in trust by the Union Savings bank is scheduled before District Judge W. R. Maines Feb. 1. Peterson has applied for recovery of the policies in the bank when the institution closed. An assigned account of $675.75 in the closed Bettendorf Savings bank will not be used as part of assets for the benefit of bank creditors, according to an order signed by Judge W. Scott in the Scott county district court. The account was receivable from the Gem Hammock & Fly Net Co. of Milwaukee and was payable to the Hansen Lumber Co. of Davenport. The court directed that the bank receiver surrender the account to the lumber concern. and is often fouled by ascending debris. Funnel clouds are sometimes obscured by rain. 'Absence of funnel clouds during the history of a tornado is explained in various ways. Opposing parallel currents contribute largely to the maintenance of the whirl, and anything which disturbs their position or velocity would tend to interrupt it and the cloud-forming processes. The whirl may also be broken up by topography. The progressive velocity of the tri-state tornado in March, 1925, is shown in that it had speed of 57 miles an hour in Missouri, 59 in Illinois and 68 in Indiana.

3. February 4, 1933 The Daily Times Davenport, IA
Article from The Daily Times, February 4, 1933

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Delivery to the Bechtel Trust Co. of the AmerTrust Co. of now securities valued owned by the Grand Lodge order signed by District today the Scott county district court. Application for transfer of the Bechtel Co. was made Block Block, attorneys for the Grand Lodge. The securiwere placed with the American Trust Co. under trust agreement Feb. 13, 1932. Payment of $20,216.67 to the Merchants National bank of Cedar Rapids from assets of the closed Northwest Davenport Savings bank approved today Judge Maines on application of the bank receiver. The amount represented loan the Northwest bank dated Dec. 1932, due. Feb. 1933 Lynn, examiner in charge bank, the with the Cedar Rapids bank.

4. February 7, 1933 Quad-City Times Davenport, IA
Article from Quad-City Times, February 7, 1933

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THE STOCKHOLDERS Approximately 300 Share Owners in Northwest Savings Involved. Instructions to bring suit against stockholders of the Northwest Dav enport Savings bank, which pended operation en Dec. 24 last, special levy for the today District Judge Harry Lynn, examiner in charge, the neys, John The tiled for the March term of There approximately individual stockholders, according the The bank capitalized at $100.Eggert, cashier of the bank, the largest individual stockholder. owning shares. Similar action will taken connection with the of the Home bank, the tendorf Savings and the Union Bank Trust pany. The the Home Savings bank was filed today, and the ings bank will filed ernoon Wednesday. attor the Union ings Bank Trust company ready for several contemplated until after inventory record. The conference today the court, the examiner Davenport bank, and the attorneys senting the receiver for marshaling the assets discussing plans for the work. matter examiner said, before they position determine available depositors, man woman bread wants him

5. February 24, 1933 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, February 24, 1933

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FILE BANK DAVENPORT Assessment of 100 Per Cent Ask. Stock of Northwest Savings in Action. Two hundred individholders capital stock the closed Northwest Davenport Savbank, including persons transferred stock within the past year, defend100 per cent liability suit filed today Scott county district court by drews, receiver, and H. Lynn, examiner in charge. entire issue of stock, shares, the suit. An share asked. Albert Eggert, cashier of the bank, the heaviest stockholder, shares, and the president, Dr. Weber, possesses 16 shares. Depositor claims amount exclusive. bills able. Deficiency in assets for payment claims against the bank fixed the collection of the 100 per cent assessment not be sufficient overcome the deficit. suit lists 11 individuals who disposed of stock in the year ceding the closing of the bank, that these transfers clared "fraudulent, null and

6. February 25, 1933 The Dispatch Moline, IL
Article from The Dispatch, February 25, 1933

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Stockholders Of Two More Banks Iowa Are Sued Suits asking 100 percent assessment against the stockholders the defunct Bettedorf Savings bank the defunct Bettendorf bank bank Davenport were filed the district court of Scott county today by Andrews, Iowa of banking. similar action was started yesterday against the owners stock the Northwest Savings bank of Davenport. The against the Bettendorf stockholders sets forth that the bank owes depositors exclusive of other bills and that the examiner the deficiency This stitution has 250 shares of par outstanding. The Home Savings bank owes positors and the examiner the deficiency $100,000. hundred shares $100 par are listed in the suit.

7. March 19, 1933 Quad-City Times Davenport, IA
Article from Quad-City Times, March 19, 1933

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FILE CLAIM TO SALE PROCEEDS HELD BY BANK Claims for the surrender of $1,418.47, representing proceeds from public sale, on the ground that the proceeds constitute a trust fund and not deposit were filed against the receivership of the Northwest Davenport Savings bank Saturday Charles E., Julius J. and A. W. Werthmann, thru their attorneys, Bush Bush. The funds in question were pro ceeds from sale on Dec. at which Albert Eggert, cashier of the bank, officiated as clerk. In his claim of $1,165.20. Charles E. Werthmann states that he called the bank on Dec. 16 and demanded the money from the sale. He was refused on the ground that the records had not yet been straight ened out. The bank suspended business on Dec. 24 The claimants deny that they au. thorized anyone to deposit the money in the bank. They ask the court to classify the fund as trust and not as general claim. Julius Werthmann's claim totals $188.32. and W. Werth mann's $64.95. All three claims are based upon proceeds from the same

8. April 27, 1933 Quad-City Times Davenport, IA
Article from Quad-City Times, April 27, 1933

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Report Covering Three Operation at Northwest Approved. Cash receipts of and disbursements totaling $24,082.82 set the first report the receivership of the Northwest Davenport Savings bank filed today the district court Lynn, examiner in charge. The report, covering the period from date of the December and includMarch 31, approved Judge W. Scott. The report lists total revised assets of the bank, suspended business Dec. 27, Cash included collected bills receivable: $12,702.77 mortgages, on stockholders assessliability. Offsets allowed by the examiner charge include receivable; gages. Disbursements. totaling include receivership expense; $488.68 advanced conassets, and $20,216.67 paid the Merchants National bank, CeRapids. Cash on hand on March 31, cluding the collections made the the and including March together with cash hand the bank closed, totaled

9. May 16, 1933 Quad-City Times Davenport, IA
Article from Quad-City Times, May 16, 1933

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COURT EVIDENCE ON Owners of Farm Sale Proceeds Insist Claim Receive Priority. Objections the classification of the Werthmann brothers claim against receivership the Northwest Davenport Savings bank presented today in DisJudge W. Scott's court counsel for the claimants. The claim, involving proceeds from farm sale collect. by Albert Eggert, cashier, officiated clerk of the sale, was classified by examiner charge general depositors claim. The claimants, Julius Charles and Werthmann, thru their Bush Bush, contend the should be rated claim, ahead of the claims. The held early the collect by Eggert, were the latter into cashier's check payable to After bank closed on Dec Eggert assigned cashier's check claim to the Werthmanns Mr. Eggert was called to the witness stand this afternoon his version of the proceeds of the farm sale was not turned over Werthmanns' before the bank suspended business The objections are first tried out in court the general approval of the classifica tion of claims three bank ceiverships signed Monday by the court. The court order of approv. exempted all objections which subject to court hearings later.

10. July 13, 1933 The Daily Times Davenport, IA
Article from The Daily Times, July 13, 1933

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Express Company Asks Preference On $733.02 Claim The American Express Co. has filed Scott county district court the report of the Union Bank Trust in which $733.02 claim for preference denied and deposit claim of general allowed instead. similar objection has been the New York presented Insurance Co. on claim $274.11, to be entitled preference as trust fund on lections made for company the bank on mortgages. Others who have appealed to the court on claims Charles Naeckel's Sons, asking Clara Koenig, cashier's check: $400 on draft; Schmidt, Schmidt estate, and Anna Julia C. Ryan. In the Northwest Davenport Savings bank receivership, Nolan, has asked court permission to file belated jection classification claims. Seeking $309 for services for the bank, he says that he entitled to preference the amount of $100. Hearing has been set for Saturday at 10 by Judge W. W. Scott.

11. August 30, 1933 Quad-City Times Davenport, IA
Article from Quad-City Times, August 30, 1933

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BANK RECEIVER WINS RIGHT TO PREFER CLAIM Right of the Northwest Davenport Savings bank receivership claim of $2,500 against Anna Wolters estate upheld today District Judge court. claim contested by John Wolters, executor of the estate, the ground that claim was barred because had not been sented during the year the estate to probate.

12. December 12, 1933 Des Moines Tribune Des Moines, IA
Article from Des Moines Tribune, December 12, 1933

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Three Iowa Banks To Pay $179,490 DAVENPORT IA. (P)-Depositors of three closed banks in Davenport and Bettendorf will receive approximately $179,491. probably by Christmas Announcement was made Tuesday by examiners in charge for D. W. Bates, state superintendent of banking and receiver for the institutions, after approval in district court. These first payments from the three institutions which closed last December amount to 5 per cent in the case of the Northwest Davenport Savings and Home Savings banks and 10 per cent for the Bettendorf Savings bank. Harvey Estate Pays $300 Tax. The estate of Isaac A. Harvey of Sioux City, Ia., paid $322.62 inheritance tax Tuesday The pay. ment to State Treasurer Leo J. Wegman was based on an estate taxable value of $20,610.76

13. March 11, 1934 Quad-City Times Davenport, IA
Article from Quad-City Times, March 11, 1934

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Judge Scott has taken advisement the motion trial in the controversy check which the Soldier, Savings bank plaintiff and the Camanche Sand and Gravel Co., the Lynch Construction Co., defendants. The Northwest Davenport Sav ings bank receiver, Attorneys Roddewig and Vollertsen, have brought action in Scott county disagainst Ernst Olderjudgment for leged due promissory note. Ell Alexoff dismissed by Judge W. Maines defendsuit brought in district court John Smith against Alexoff and John for and lien. In the action against Alexoff, Judge Maines sustained his that he was not involved the case. Action against Burkard and William Burkard, the charged with operating motor hicle while intoxicated, and the latter appealing on charge dismissed in disintoxication, was trict court when they paid costs. and Mabel Lynn and others are named defendants mortgage action brought Scott district court Attorney Jack Vollertsen. by The asks for judgment on note for plus interest from Jan. 24, 1932.

14. March 16, 1934 Quad-City Times Davenport, IA
Article from Quad-City Times, March 16, 1934

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John M. Brown, to collect Fred Weisman filed suit against Walter Voelkers for $600 rental claimed due on farm. The petition recites on Nov. 1931, the defendant agreed to purchase acres in Butler township in the the plaintiff able to sethe property from the Clinton Savings bank. The plaintiff was unable do this and the claim filed on an alternate agreement for of rent in the event payment was not made. The Northwest Davenport Savings receivership seeks foreclosure collection of from Henry Kuehl.

15. April 18, 1934 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, April 18, 1934

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INTEREST SLASH APPROVED. (The Register's Judge W. R. Maines signed an or. der Tuesday authorizing a con. tract between the Northwest Davenport Savings bank receivership and the Reconstruction Finance Corp. for reduction of the interest rate on the bank's old R. F. C. loan from 53 to 4 per cent.