Article Text
MERGER HALT, GOSSIP, CLOSE MARENGO BANK Special The Democrat Marengo, Ia., Nov. -Officers of the American Savings bank this morning closed doors of that institution and called in state bank
American Savings Bank (Marengo, IA)
Episode Information
- Episode UID
72043771547- Episode Type
- Run → Suspension → Closure
- Bank Type
- savings
- Bank ID
-
7204377routing - Routing Number
72-0437- Start Date
- November 20, 1928
- Location
- Marengo, Iowa (41.798, -92.071)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
6836370f4ec4775a
Response Measures
None
Events (3)
1.
November 20, 1928
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Heavy withdrawals prompted by merger gossip and rumors that the bank would merge or close.
- Measures
- Closed doors and called in state bank officials; suspended payments.
- Newspaper Excerpt
- action rumors that the bank to merged ... serious run the bank's
- Source
- newspapers
2.
November 20, 1928
Suspension
- Cause
- Rumor Or Misinformation
- Cause Details
- Bank officers closed the bank following serious runs and persistent merger gossip.
- Newspaper Excerpt
- Officers of the American Savings bank this morning closed doors of that institution and called in state bank
- Source
- newspapers
3.
November 30, 1928
Receivership
- Newspaper Excerpt
- Shawver has been named receiver for the American today
- Source
- newspapers
Newspaper Articles (4)
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Article Text
MARENGO BANK CLOSES DOORS TO THE PUBLIC (Register's Special Iowa News bank closed its doors this morning action rumors that the bank to merged with the Peoples Savings bank The rumors, according to officials of the American Savings serious run the bank's that was finally considered advisable The American bank was organ ized in 1907 with capital stock of $25 which was later creased to $50,000 The bank surplus and $600,000 deposits. Officials of the bank Wilson, vice president, and C. Denzler, cashier.
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Article Text
MARENGO BANK FAILS TO OPEN Peoples Savings Institution Was Organized in 1905. News Service.) Marengo, Nov. PeoSavings bank which was ganized ples here in 1905. failed to open its doors this morning Ole Olson is president the bank and A The officers the bank gave its capital at surplus, and total Since the closing of the AmerNov run Savings bank has the Peoples in progress officials said A merger between the institutions failed when petition for a charter was denied Shawver has been named receiver for the American today leaves MaThe closing The First rengo without National bank of Marengo closed 14.
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Article Text
BANK CLOSES People's Savings Fails To Open Friday Morning (By Associated Press) MARENGO, Ia., Nov. the failure of the People's Savings bank to open here early Fri. day morning, Marengo is left without a single bank, the American Savings bank having closed its doors on November 20th, and the reorganization plans failing in their completion. Heavy runs have been noticed the People's bank since the closing of the American and unable to withstand the loses. The People's Savings bank was organized in 1905 with the late Arthur N. Vetty as president. After the death of Mr. Vetty the bank by Mr. Ole Olson, president, and Mr. Rouse, cashier. The capital stock was $100,000, deposits, good and the total resources estimated at $678,000.