Dow City Bank (Dow City, IA)

Episode Information

Episode Type
Suspension → Closure
Start Date
December 31, 1924
Location
Dow City, Iowa (41.929, -95.494)
Bank Type
trust

Metadata

Episode ID
Bank ID
City ID
190455969
Model
gpt-5-mini
Short Digest

Notes

OCR errors in Article 1; date of closing given as December 31 (1924 inferred from January 1925 articles).

Events (2)
1. December 31, 1924 Suspension
Cause Details
Bank closed Dec. 31 and was placed in receivership; articles cite broad epidemic of bank closings and inability to obtain large state funds but no single clear trigger for Dow City.
Newspaper Excerpt
has resigned to accept the receivership of the Vail and Dow City banks which closed their doors December 31.
Source
newspapers
2. January 1, 1925 Other
Newspaper Excerpt
EPIDEMIC OF BANK CLOSINGS IN IOWA ... Included the First National Bank of Denison, and banks controlled that Dow City and Bank here was the largest Institution its doors.
Source
newspapers

Newspaper Articles (2)
1. January 1, 1925 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, January 1, 1925

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Article Text

EPIDEMIC OF BANK CLOSINGS IN IOWA

Combination of Causes, Including Runs, Causes Series of Suspensio

DES MOINES, IA., Dec bination of tainty as rights surety companies guaran bublic deposits, the probable large public failure banks bonds for public was of bank suspensions Five closed Ing the and turned the banking partment, announced, will exert effort to protect the These were the and the The Included the First National Bank of Denison, and banks controlled that Dow City and Bank here was the largest Institution its doors. Officers declared they unable to obtain the $600,000 state funds deposit and that this sum in prospect with the changing Friday. The Mechanics allied Commercial, after experiencing during the first hour this morning.

2. January 27, 1925 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, January 27, 1925

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Article Text

Special to The Nonpareil. DENISON, Ia., Jan. 27.—Martin Runge, clerk of the district court of Crawford county, has resigned to accept the receivership of the Vail and Dow City banks which closed their doors December 31.

Mr. Runge was for some years connected with the First National bank, the stockholders of which are owners of the two banks for which he will be receiver.

Hugo Saggau of Denison, who was cashier of the Farmers State bank, has been appointed to fill the vacancy in the clerk's office.