First National Bank (Adams, NE)

View Charter #9223 on SPMC View balance sheet

Episode Information

Episode Type
Suspension → Closure
Start Date
March 4, 1933
Location
Adams, Nebraska (40.459, -96.510)
Bank Type
national
Charter Number
9223

Metadata

Episode ID
Bank ID
City ID
310826897
Model
gpt-5-mini
Short Digest

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1933-09-12
Date receivership terminated
1936-12-31
Share of assets assessed as good
37.8%
Share of assets assessed as doubtful
62.1%
Share of assets assessed as worthless
0.0%

Notes

No contemporaneous article describes a depositor run; suspension and later receivership are reported in multiple items.

Events (4)
1. August 21, 1908 Chartered
Source
historical_nic
2. March 4, 1933 Suspension
Cause
Macro News
Cause Details
Bank suspended on March 4, 1933 amid the systemic banking closures/panic of early March 1933
Newspaper Excerpt
The First National Bank of Adams, Nebr., insolvent, was suspended March 4, 1933
Source
newspapers
3. September 12, 1933 Receivership
Newspaper Excerpt
placed in receivership September 12, 1933
Source
newspapers
4. September 12, 1933 Receivership
Source
historical_nic

Newspaper Articles (6)
1. November 24, 1933 Beatrice Daily Sun Beatrice, NE

Article Text

RECEIVER APPROVAL FOR BONDS Ralph Kline Petitions Court For Action In Adams Bank Case SECURITIES FALL FAR UNDER PAR What might be termed crosssection picture of the effects presentwhich Ralph Kline, receiver for the First National bank, Adams, has filed in district Attached to the petition is long list bonds certificates which the receiver proposes to convert cash in the best interests of the bank. The securities free assets. They of course listed their value, but they are now marketable far below par. Among the bonds some like two Insull issues which are involved what has been termed "utilities empire Samuel Insull now selfexiled Greece, the U. government having failed secure his extradition to face charges in Chicago. Some of the bonds are in fault, having paid no interest for long period. the paper totals about Some dropped from quotations above par in the days the speculative boom to virtually nothing General Theater Equipment bonds, by deposed movie in senate the Chase bank, New York, included in the Adams bank list. Other securities represent sues Australia, Chile, Italy, France, Austria, Germany other countries governmental within their borders. through protective commitsimilar to groups which have been formed after other bank failures, Receiver Kline course suggests the sale of the bonds at price obtainable." When questioned last night the receiver declined discuss the fairs of the bank except the proposed sale of the securities set forth in his court petition. It been reported at Adams, howeverr, that there has been discussome sion plans. Noth(Continued on Page Eight)

2. December 1, 1933 The Wymore Arbor State Wymore, NE

Article Text

Week of November 27 to Dec New Cases Filed In District Court Vern Ayers, Mary Ballard, Mary Creighton and Helen Baete, Ernest Hubka County of Gage County, Nebraska, Paul Good of Nebraska, and Charles Bryan Governor and Commissioner of Labor Order. Attorneys for plaintiffs, Sackett constitutionality of the state law prohibiting women working in restaurants after midnight in cities of the metropolitan and first class has been challenged district Court where Vern Ayers, proprietor of Ayers' Cafe Beatrice has filed an action seeking have state enforcement officers restrained from applying the law instance. With him as plaintiffs are Mary Ballard, widow, Mary Creighton, widow, and Helen Baete, partial supporter of her parents, employment at cafe would ended by the application of the statute. The plaintiffs allege that enforcement officers about to bring action against them, and contend that the statute to invoked uneonstitutional does not prevent female employ. ment towns less than first class after M., but legislates against of first class and ropolitan The cation of the law, the petition further alleges, would hurt the welfare of the plaintiffs and the community generally; would impair the health and welfare of the plaintiff employand their dependents; would constitute an invasion of property rights and would add to employment distress. The business has been successful and stable, Ayers contends, by its operation 24-hour basis and this would be largely destroyed if that basis were reduced to fewer hours of service. In event the statute should succeed in obtaining the dismissal of the three girl employes the cafe could not be erated 24 hours day for the that the nature of the work not such that male employes can carry out successfully. Attempts do that have failed). Hentges Henry VanBeek; Alzena VanBeek, Ralph Klein, Receiver of the First National Bank of Adams, Nebraska, Zink Brothpartnership, composed of Zink and Val Zink, RichardSale Certificate. Attornfor plaintiff, Rinaker Delehant. Gilbert Cobb George nas, to Quiet Title Attorneys for plaintiff, Rinaker Delehant and Hevelone. property in question consists of Lots Block 10, Green's addition to Belvidere Heights, Beatrice). Fred Ostendorf Robinof Mortgage. Attorneys for plaintiff, Killen VanBorkum. The Mutual Benefit Life Insurance Company, corporation, Mary Gann, et of Attorneys Stewart Whitworth, Lincoln, Nebraska. Dean Coonley, recently appointed Register of Deeds of Gage County succeed Charles Judd, states that while the county board has authorized the appointment of clerk his office he probably will not make the appointment until after JanuCoonley asked for the pointment privilege Tuesday der bring the office force up normal strength. Clerk Dean Brandt retired at the time Register Judd's resignation became effective, about November 1st. Fay Henderson, of Beatrice, granted divorce from Henderson on grounds of cruelty district court Monday. She was given custody of the couple's two children and was allowed $25 month for their support, to be paid the defendant. Pabst, sentenced last week District Judge Fred Messmore to year in the penitentiary for stealing car belonging to ren Williams of Pickrell, was taken prison Saturday by Sheriff Tom time. The farm known as the Burgess place, which of mile north and miles west of Filley, offered sheriff's sale at the Court House, Tuesday, to satisfy mortgage. The eighty acre farm brought $8,283, which was amount of the mortgage. averaglittle more than $100 an acre. The property was owned by the State Bank of Douglas, now defunct, and the mortgage held by Ada DunMrs. Dunlap was the winning bidder the sale.

3. December 1, 1933 The Wymore Arbor State Wymore, NE

Article Text

Marriage Licenses The following licenses marriage issued in County Court the week: Leonard Hagan, 26, and Emma Wehmer, 24, Lincoln. Frank Reimer, 27, Beatrice, and Esther Thimm, 23, Beatrice. Hago Miller, Filley, and Julia Andersen, 23, Filley. Ralph Klein, receiver for the First National Bank of Adams, has filed petition in district court, attached which long list of bonds and certificates which the receiver to convert into cash in the best interests of the bank. The curities free assets, and are are now marketable at far par. Some of the bonds are default, having paid no interest for long period. At par the paper totals about $140,000. Some have dropped from quotations well above in the days of the speculative boom to virtually nothing. The may be sold through protective committee similar groups which have been formed ter other bank failures. Receiver Klein, of course, suggest the sale of the bonds at best price obtainIt has been reported at Adthat there is some diseussion of reorganization of the bank, but the information not definite.

4. September 20, 1935 The Lincoln Star Lincoln, NE

Article Text

Full Payment Made By Ashland National (Special to The Star.) ASHLAND, Neb., Sept. 20 — P. L. Hall, receiver for the National Bank of Ashland, has been authorized by the comptroller of the currency in Washington to make final payment of 30 per cent to the depositors of that institution. This makes full payment of 100 per cent. The bank was suspended March 4, 1933, and placed in receivership July 16, 1934. The total paid depositors was $179,969.41. Mr. Hall stated that the Central City National bank, still in process of liquidation, has paid 95 per cent and the First National bank at Adams, also still in liquidation, has paid 82 1/2 per cent.

5. September 26, 1935 Central City Republican-Nonpareil Central City, NE

Article Text

P. L. Hall, receiver, reports upon three banks—National Bank of Ashland, Central City National Bank and First National Bank of Adams—as follows: The National Bank of Ashland, insolvent, Ashland, Nebr., was suspended March 4, 1933, and was placed in receivership July 16, 1934, and has paid dividends to depositors to date totaling 100 percent, amounting to $179,969.41. The bank is still in liquidation. The Central City National Bank, Central City, Nebraska, insolvent, was suspended March 4, 1933 and placed in receivership November 1, 1933, and has paid in dividends to depositors to date totaling 95 per cent, amounting to $154,627.10. The bank is still in process of liquidation. The First National Bank of Adams, Nebr., insolvent, was suspended March 4, 1933 and placed in receivership September 12, 1933, and has paid in dividends to depositors totaling 82½ percent, amounting to $106,138.28. The bank is still in process of liquidation. In conjunction Mr. Hall honors J. F. T. O'Connor upon his effective accomplishments since he took office in March, 1933, under the most trying conditions that have ever confronted a Comptroller of the Currency. The press release issued by the Comptroller on August 17, 1935, reveals deposits in 5,431 active national banks aggregating $22,518,541,000, as of June 29, 1935. This represents an increase since June 30, 1933, of $5,744,426,000 and established a record which has never been approached in the history of the national banking system. The total deposits in active national banks is now fast approaching the total reported for December 31, 1928, on which date 7,635 active national banks reported deposits aggregating $24,347,380,000. This was the highest total reported in the history of the system and exceeds the present figures by only $1,828,839,000. The man directly responsible for this remarkable record of recovery was the able, efficient and energetic Comptroller from California.

6. November 21, 1935 Ashland Gazette Ashland, NE

Article Text

The National Bank of Ashland, Nebraska, (Insolvent), suspended March 4, 1933; placed in receivership July 16, 1934; First dividend 70 per cent paid while restricted; second (final) dividend 30 per cent paid Sept. 11, 1935. Total dividends paid 100 per cent, $179,969.41. The First Nat'l Bank of Adams, Nebraska, (Insolvent). Suspended March 4, 1933; placed in receivership September 12, 1933; dividends paid of 82 1/2 per cent amounting to $106,138.28. SAUNDERS COUNTY RECEIVES CASH FROM AK-SAR-BEN Saunders county has benefitted financially to a considerable extent this year through Ak Sar Ben's activities in Omaha, a study of the records of the Live Stock Show, and of this year's pari-mutuel race meet reveals. The total amount of Ak Sar Ben cash benefits to counties in Nebraska and Iowa reached a new high this year, and is expected to run considerably higher in the future, ac-