Farmers & Merchants Bank - Sioux Rapids, IA

Episode Information

Episode UID: 7965803391251
Episode Type: Suspension → Closure
Bank Type: private
Bank ID: 796580339 hash
Start Date: March 17, 1904
Location: Sioux Rapids, Iowa (42.893, -95.151)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 5082fe01c2458399

Response Measures

None

Description

Owner W. E. Brown indicted; A. J. Wilson identified as receiver for the banks.

Events (1)

1. March 17, 1904 Receivership

Newspaper Excerpt: the Farmers' and Merchants' Bank at Sioux Rapids... failed, was indicted by a Buena Vista county grand jury... A. J. Wilson, receiver of the banks testified
Source: newspapers

Newspaper Articles (1)

1. March 17, 1904 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, March 17, 1904

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Article Text

BROWN IS INDICTED President of the First National of Storm Lake Indicted for Receiving Deposits After Bank Was Insolvent. Special to Times-Republican. Storm Lake, March 17.-W. E. Brown who was indicted here yesterday, went south on the Milwaukee last night. No warrant for his arrest has been issued. Sioux City, March 17.-W. E. Brown. president of the First National bank of Storm Lake, and owner of the Farmers' and Merchant's Bank at Lynn Grove., the Farmers' and Merchants' Bank at Sioux Rapids, and the Bank of Royal, all failed, was indicted by a Buena Vista county grand jury on eight counts for receiving money after he knew the bank to be insolvent. Seven of these counts were for receiving money in the Lynn Grove bank and one for receiving money in the Sioux Rapids bank. The later indictment was returned on testimony of H. E. Barrick of Storm Lake, who gave Brown a deposit of $2,000. A. J. Wilson, receiver of the banks testified that Brown's liabilities were more than $500,000.