Ringling State Bank (Ringling, MT)

Episode Information

Episode UID
93033171478
Episode Type
Suspension β†’ Reopening
Bank Type
state
Bank ID
9303317 routing
Routing Number
93-0331
Start Date
February 3, 1923
Location
Ringling, Montana (46.272, -110.807)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6f042cba1153fa56

Response Measures

None

Description

Suspension referenced as occurring the week of Feb. 3, 1923; reopening planned but date not specified.

Events (2)

1. February 3, 1923 Suspension
Cause
Local Banks
Cause Details
Close association with the State Bank of Martinsdale which closed the same week; linked local bank failures/closures appear related.
Newspaper Excerpt
the Ringling State Bank suspended, according to the Ringling Independent.
Source
newspapers
2. * Reopening
Newspaper Excerpt
The Ringling State Bank is also arranging to reopen, the depositors taking time certificates of from one to three years to assist in the reopening process.
Source
newspapers

Newspaper Articles (2)

Article from The Clyde Park Herald, February 16, 1923

Click image to open full size in new tab

Article Text

At the meeting of the State County Commissioners Association in Helena the work of the extension agent occupied most of the attention. Commissioners from some of the timber and mining counties were interested in the extension work although these agents were not so necessary in their counties, it was reported. From the farming counties, however, there was a great majority of favor for extension work. D. N. Miles of Livingston, president. The action of the Montana county commissioners follows similar action in other states. In Oregon one county has made its extension work "permanent". The importance of the extension work nationally is shown in the report of Secretary Wallace where he says agricultural agents are employed in 2,100 counties, home demonstration agents in 800 counties and club agents in 200 counties. These agents come in contact with 2,500,000 farm homes annually. The Farm Bureaus And Experiment Stations "The Farm Bureau in its work has dealt with all the factors influencing farm life, including production, economics, education and social life," said Dean E. C. Johnson of the State College of Washington to a Farm Bureau gathering at the Walla Walla Chamber of Commerce recently. "It has stressed the first three, and especially the economic side. The agricultural experiment stations of necessity have first of all stressed production, because without it there can be no permanent progress. Production is basic and will remain so always. "The experiment stations have, however, done much work also in development of marketing and organization." No Royal Road To Dry Land Wealth Dry land farming in the famous "triangle" of north central Montana can be made a success with the right kind of farmers doing their farming in the right way, says M. L. Wilson of the State College Extension Service. Mr. Wilson has just finished a survey of typical dry farming areas of this section, getting records from farmers who have been "successful" enough to permit them to show a labor income in spite of recent years of drouth. A summary of Mr. Wilson's findings was made before the Rotary Club of Great Falls and again before the State College advisory council at Bozeman. Some of his points, summarized, are as follows. Enough diversification must be practiced to assure the family a living each year independent of the main grain crop. Flood water irrigation should be utilized to its fullest extent, and most of the farms in this section have flood water possibilities. The crop land will probably be one-third fallow, one-third crop on fallow and the other one-third crop on unfallowed land. Fallow provides a more uniform yield each year, while the crop on unfallowed grounds allows building up of surplus profits in the good years, at small expense. Where cheap pasture land is available the tendency will be toward greater amount of livestock in the diversification. The farm garden is perhaps the most important point in the diversification base on which all farming practice must be constructed. All farming in this section must be built around control of the Russian thistle. It is improbable that the section will experience soon again a succession of years of drouth such as have marked the past five years. Speculative farming cannot succeed; the farmer must build with an idea towards a permanent home. Greatest economy in man labor must be practiced. The use of eight, ten, or twelve-horse teams will grow in favor. Soil blowing will become an increasingly difficult problem. Fallowing without plowing may be practiced more each year. The double rod weeder and duck foot type of cultivator are the best types for control of Russian thistle in fallowing. Sudden or easy wealth in this section should not be expected. It is a section for thrifty, careful farmers who will farm intelligently and who will farm with the idea of home building for permanency. The State Bank of Martinsdale closed its doors Saturday, February 3, in the same week that the Ringling State Bank suspended, according to the Ringling Independent. It is stated that the closing of the Martinsdale bank was expected after the closing of the Ringling State Bank, owing to the close association of the two.


Article from Winnett Times, March 16, 1923

Click image to open full size in new tab

Article Text

Schwartz Well To Drill Deeper A deal is now being closed whereby the Schwartz well in the SEΒΌ NWΒΌ of section 22-15-25, on the McDonald creek structure is to be completed to the Madison lime. This well was drilled to the Ellis sand a few weeks ago without finding production and was temporarily shut down. The depth to the bottom of the Ellis in the location is 1720 feet. The Ellis sand was found to be perfectly dry, according to the official log of the well. The Kootenai sands yielded heavy flows of water, but the Ellis being perfectly dry, leads to the belief that the lower sands will be found free from water and will likely produce oil. It is estimated that an added depth of 500 feet will explore all the quadrant sands. The water will be shut off with 8-inch casing, leaving a hole of ample size to reach the Madison lime. The well thus far has been drilled by the Schwartz exploration company, composed of practically all Lewistown men. It is to be completed by eastern capital on an acreage basis, it is understood. Wm. Thomas who has had charge of the drilling will also be in charge under the new arrangement. The equipment is of the standard variety and it will require only a day or two before actual drilling can be resumed. John O'Neil, who is associated with his brother, Tip, in the oil business, arrived in the city Monday to look after the O'Neil interests in Cat Creek. BANK CONDITIONS IMPROVING. J. R. Slayton, recent state senator from Musselshell county and one of the first county commissioners of Fergus county, was in Winnett the fore part of the week enroute to Lewistown. Mr. Slayton is one of the heaviest stockholders in the Citizens State Bank at Roundup which closed its doors about a month ago due to a run on its deposits caused by false reports that was circulated against the bank. Mr. Slayton announced that the Citizens State Bank will reopen May 15th with increased capital the directors and stockholders taking any loss that occurred due to the run. The bank will be reopened as a bigger and stronger institution and with no loss registered against its depositors. The Ringling State Bank is also arranging to reopen, the depositors taking time certificates of from one to three years to assist in the reopening process. Several of the other closed banks in the state are also planning on reopening this summer, the stockholders taking any loss that was caused by the suspension of business and doing so with the feeling that Montana is coming back and that in the course of time they will be able to make up their losses and a neat profit besides.