Article Text
TAKES UP BANK OPERATIONS Institutions at Benton and Mount Ayr Receive State Aid. Des Moines Monday law intendent them them in the State bank Mount Ayr Benton bank of Benton Under the any his with the the operate appoint
Mount Ayr State Bank (Mount Ayr, IA)
Episode Information
- Episode UID
72045971597- Episode Type
- Suspension → Reopening
- Bank Type
- state
- Bank ID
-
7204597routing - Routing Number
72-0459- Start Date
- January 23, 1933
- Location
- Mount Ayr, Iowa (40.715, -94.235)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
d23eb8873289da2c
Response Measures
None
Description
State banking superintendent took control under a new Iowa law at the bank's request.
Events (1)
1.
January 23, 1933
Suspension
- Cause
- Government Action
- Cause Details
- State banking superintendent, under a new Iowa law, took over and operated the bank at its request to avoid formal closing; assets placed in his control.
- Newspaper Excerpt
- The Mount Ayr State bank ... requested the aid of Supt. Andrew under the new law
- Source
- newspapers
Newspaper Articles (3)
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Article Text
OVER BY STATE Banking Superintendent of Iowa Acts Under Law Just Passed. DES MOINES. Jan. 23. banking announctoday that had taken over the of state banks under the new the bankto them placing them receiverinstitutions were the Mount State bank Mount and Benton Savings bank of Benton both in Ringgold county. passed last Fri. in series of rapid actions senate. house and Gov. Clyde Herring became effective upon Under its provisions the banking superintendent take over any institution requesting his aid, with consent the council the governor. He may operate bank under its old officers, may new ones he and full control handle the assets the bank the manner deems best interests of the deposi- Taxpayers Plan Meeting. NEW Jan taxpayers New taxpayers Independent district hold meeting the Chickasaw county house
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Article Text
NEW IOWA BANK LAW AVERTS 2 BANK CLOSINGS Des Moines, Ia., Iowa authorizing the state banking superintendent take over the of state banks voked in two cases for the first time today. The Mount Ayr State bank and the Benton bank, both in Ringgold county, requested the aid Supt. Andrew, under jurisdiction they may operated without going into The new law, rushed through both houses of the state assembly last Friday, that the banking shall in charge for one year, the time may be with the approval of the executive Andrew said in the of the two permitted now, but becomes will be the prorata New deposits will be accepted, Andrew said, and will remain in trust entirely separate from the old funds. He emphatic in pointing out that the funds in way pledged the institutions were placed in his hands.