Article text has an OCR cut at start ('kinock' = Mekinock).
Events (2)
1.December 16, 1931Suspension
Cause
Government Action
Cause Details
Bank was closed and a state receiver (L. R. Baird) was appointed; payments routed through district manager at Devils Lake.
Newspaper Excerpt
kinock State bank at Mekinock, L. R. Baird, receiver of closed state banks, announced Wednesday.
Source
newspapers
same day
2.December 16, 1931Receivership
Newspaper Excerpt
L. R. Baird, receiver of closed state banks, announced Wednesday. Payment is being made through the office of C. W. Conroy, district manager at Devils Lake.
Source
newspapers
Newspaper Articles (1)
1.December 16, 1931The Bismarck TribuneBismarck, Mandan, ND
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Article Text
kinock State bank at Mekinock, L. R. Baird, receiver of closed state banks, announced Wednesday. Payment is being made through the office of C. W. Conroy, district manager at Devils Lake.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.