First State Bank - Murphy, NE

Episode Information

Episode UID: 76103671590
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7610367 routing
Routing Number: 76-1036
Start Date: June 10, 1932
Location: Murphy, Nebraska (40.879, -98.112)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 5351f73985538ac9

Response Measures

None

Description

Receiver appointed after bank closed; allegations of excessive, uncollectible loans.

Events (1)

1. June 10, 1932 Receivership

Newspaper Excerpt: RECEIVER OF MURPHY BANK ALLEGES EXCESS LOANS WERE MADE TO PATRONS ...the closing of the bank and the later winding up of its affairs by the receiver...defunct First State Bank of Murphy...
Source: newspapers

Newspaper Articles (1)

1. June 10, 1932 Aurora News-Register Aurora, NE

Article Text

Ask Recovery From Bank Officials RECEIVER OF MURPHY BANK ALLEGES EXCESS LOANS WERE MADE TO PATRONS Arguments of counsel in the case of E. H. Luikhart as receiver of the defunct First State Bank of Murphy, against several former officers of the bank, were heard in judge Landis' court last Monday. The action is an outgrowth of the closing of the bank and the later winding up of its affairs by the receiver. It was found that a large amount of paper held by the bank was not collectible and that a considerable amount of it is worthless. Parties who were made defendants in the action are David Sims, J. J. Refshauge, Harry Boeson, J. W. Weikel and John P. Nelson. The petition alleges that the defendants as officers of the bank permitted loans to be made to various parties in excess of the amount allowed by law and that as a result of these excess loans the bank suffered a loss of several thousand dollars. The total amount of the excess loans is alleged to be $11,189.88 and the loss to the bank on these loans is placed at $2,797.47. The receiver is represented in court by the law firm of Kirkpatrick, Good and Doughtery.