Ely Trust & Savings Bank (Ely, IA)

Episode Information

Episode UID
72131671618
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
7213167 routing
Routing Number
72-1316
Start Date
October 17, 1934
Location
Ely, Iowa (41.874, -91.585)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1986583779e8209b

Response Measures

None

Description

Bank is in receivership and paying dividends to depositors under examiner/receiver.

Events (2)

1. October 17, 1934 Receivership
Newspaper Excerpt
Report On Ely Bank. The receiver's seventh quarterly report in the receivership of the Ely Trust and Savings bank, submitted by Ben S. Summerwill, examiner-in-charge, was approved by Judge F. O. Ellison in district
Source
newspapers
2. * Suspension
Cause
Government Action
Cause Details
Bank placed in receivership (examiner/receiver in charge) and suspended operations prior to the receiver's quarterly reports.
Newspaper Excerpt
the Ely Trust and Savings bank will disburse $23,000
Source
newspapers

Newspaper Articles (2)

Article Text

Jury Finds Watson Guilty Of Car Theft A district court jury before Judge H. C. Ring at 2:25 p.m. Wednesday returned a verdict of guilty in the state's case against James Watson, 26, Cedar Rapids, charged with larceny of a motor vehicle, following two hours and forty-five minutes' deliberation. Judge H. C. Ring then finally excused the September term petit jury. Watson is accused of participating with Orland King, 20, Cedar Rapids, in the theft of a car owned by E. J. Stark, from its parking place in First street NE last April 28. Watson was the only defense witness. The defense maintained that he was intoxicated at the time and was incapable of criminal intent. Watson testified he entered the car at King's invitation and did not know that it was a stolen machine. Specify Claims Allowed In Light Co.-Hopp Suit A district court jury, which returned a $2,207 verdict for the Iowa Electric Light and Power company before Judge H. C. Ring in an action against J. W. Hopp and the J. W. Hopp construction company of Cedar Rapids Tuesday, allowed a defendant's counterclaim for $1,410 and denied a plaintiff's asking of $156.66 in arriving at the sum awarded. The action involved a contract for construction of a power house and pump house by the Hopp concern at Toledo. The defense had conceded a $5,691.81 claim of the plaintiff on assigned material firms' claims, while the plaintiff had conceded $2,074 of the defendants' claims. Report On Ely Bank. The receiver's seventh quarterly report in the receivership of the Ely Trust and Savings bank, submitted by Ben S. Summerwill, examiner-in-charge, was approved by Judge F. O. Ellison in district


Article Text

CITY Iowa City, Dec. Johnson County Savings and Farmers Trust and Savings banks will pay cent dividends to their depositors the week of Dec. 17. Ben examiner in charge, today The will amount to more than Depositors of the Johnson County bank will receive about dividend ment depositors since the in 1931. With the the bank will paid cent dividends. The Farmers Trust paid two dividends per cent each and the payment will total bringing the total depositors since its closing two ago, Mr. announced that the Downey Savings bank will pay to its depositors, the Ely Trust and Savings bank will disburse $23,000 cent dividend and the Cedar Rapids Savings bank will pay about in dividends of similar