West Side State Bank (Great Falls, MT)

Episode Information

Episode Type
Suspension → Closure
Start Date
December 21, 1923
Location
Great Falls, Montana (47.500, -111.301)
Bank Type
state
Routing Number
93-0467

Metadata

Episode ID
Bank ID
City ID
300802113
Model
gpt-5-mini
Short Digest

Notes

Bank was ordered closed by directors and taken charge of by the state bank examiner; later placed in receivership.

Events (4)
1. December 21, 1923 Suspension
Cause
Government Action
Cause Details
Directors ordered the bank closed and the state bank examiner took charge; bank did not open on that date.
Newspaper Excerpt
The West Side State bank of Great Falls... today failed to open its doors on an order of the directors and the state bank examiner took charge.
Source
newspapers
2. June 28, 1924 Receivership
Newspaper Excerpt
Mr Doyle was appointed receiver on June 28. 1924.
Source
newspapers
3. July 3, 1924 Other
Newspaper Excerpt
Receiver H. M. Emerson... applied to the District Court for permission to pay a 35 per cent dividend to depositors, and checks for the various amounts will be issued July 3rd.
Source
newspapers
4. May 25, 1927 Other
Newspaper Excerpt
Remaining assets of the West Side State bank... were sold in bulk Wednesday afternoon to Herman Ofstedahl for $2,400 by Doyle, receiver the bank.
Source
newspapers

Newspaper Articles (11)
1. December 21, 1923 The Producers News Plentywood, MT
Article from The Producers News, December 21, 1923

Click image to open full size in new tab

Article Text

BEST PEOPLE FOR 25 YEARS R. B. Noble has lived for 30 years in Great Falls, is head of the Noble Mercantile company, the largest retail grocery house of Great Falls, owns many ranches and much city property, was chairman of the Great Falls school board, former alderman, president of the West Side bank and prominent in civic life of the city for a quarter of a century. Peters is a man 36 years of age and has a wife and three children, while Noble is 58 and has a wife and nine children living. Stay on execution of sentence was given until Saturday when motion for new trial will be heard and decided. Thus the spell of the formerly charmed life of bankers seems to be broken. GETS CHILDREN'S PENNIES This bank just before it closed its doors, carried on a Thrift campaign among the school children of Great Falls, whereby it got possession of hundreds of dollars in pennies and dimes from the kids. aluminum coffee percolator. Marion Foley was neither absent or tardy the whole term. BLAIN DEAN UNDERGOES EYE OPERATION Blain Dean was operated upon Thursday afternoon by Dr. Storkan at the Memorial hospital. PROMOTE BIG MATCH EVENTS ARE FAST COMING TO SHOW DOWN WHEN PUBLIC WILL HAVE OPPORTUNITY TO SEE MOE AND HOUSE IN TITANIC STRUGGLE TO SETTLE SUPREMACY ON PADDED MAT. At the regular meeting of the local Post of the American Legion it was decided to promote a wrestling match between Moe and House if arrangements could be made between these two well known artists of the padded mat. The public has been clamoring for these two men to meet and each week the public demand grows stronger that Moe and House meet on the mat and settle their difficulties so that the world may know who is the best man. There is no doubt but this will be the star attraction of the winter in the line of sports and it is to be hoped that the Legion boys will be able to get these two high class men together. The result will be watched with interest.

2. December 27, 1923 The Chester Reporter Chester, MT
Article from The Chester Reporter, December 27, 1923

Click image to open full size in new tab

Article Text

WEST SIDE STATE BANK OF GREAT FALLS CLOSES (By The Associated Press) Great Falls, Dec. 21.—The West Side State bank of Great Falls, the institution of which R. B. Noble was president and organizer, today failed to open its doors on an order of the directors and the state bank examiner took charge. The bank was organized in 1918 with a capital stock of $25,000 to which has been added $1,000 surplus and had $85,000 deposits with about the same amount of loans. No paper was out, and the stockholders' liability is about $25,000. Noble was sentenced to two and a half years in Leavenworth on a charge of making false entries in the closed Commercial National bank of which he had been manager and vice president.

3. June 25, 1924 The Cody Enterprise Cody, WY
Article from The Cody Enterprise, June 25, 1924

Click image to open full size in new tab

Article Text

Montana Bank To Pay About Third Great Falls, Mont.-Receiver H. M. Emerson, of the West Side State Bank of Great Falls, last Wednesday applied to the District Court for permission to pay a 35 per cent divident to depositors, and checks for the various amounts will be issued July 3rd. The bank closed December 20th, 1923, the claims against the bank being something over $70,000.

4. July 3, 1924 Belt Valley Times Belt, Armington, MT
Article from Belt Valley Times, July 3, 1924

Click image to open full size in new tab

Article Text

News of Montana Brief Notes Concerning the Treasure State Plan Sugar Factory.-A sugar factory for the lower Yellowstone valley in the not distant future is one of the t possibilities that is at this time stirring the morale to a hectic enthusiasm. Three weeks ago a party of men, composed of directors and officers of one of America's largest sugar companies, made a trip over this project, and although publicly declaring to the contrary, the inspection was so thorough as to demonstrate more than passing interest. Comes now R.S. Nutt, a Sidney man, who has always ben a leader in financial and development circles and who, the community has reason to presume, is in closext touch with this large sugar company, and who has taken 90-day options on five pieces of choice farm lands which he admits is highly suitable for beet sugar factory sites and demonstration farms. Insurance Plan Launched.-A farmer's mutual Insurance company has been organized by the ranchers of Tobacco Valley and Lincoln county. Temporary organization was perfected by the officers of the Tobacco Valley Livestock association, the directors of which are C. 0. Winkley, J. M. Rummel, Fred Marvel, Joseph Peltier, T. M. Quirk. J. W. Millegan, secretary for the association is acting as secretary. The articles of incorporation recite that the name of the company shall be, Lincoln County Farmers'' Mutual Insurance company; its purpose to protect the members from loss by fire and lightning: its field of operations, Lincoln county. and the principal place of business, Eureka; its directors those listed above: that the 25 members incorporating with insurance totalling $55,945. Mine Money on Looted Train-Rep cent looting of the crack mail train on the Milwaukee railroad was of more than passing Interest to the miners employed by the Republic Coal company, h of the Klein mine near Roundup. A shipment of currency amounting to apM proximately $30,000, intended to meet the mid-month pay roll, was among the fi loot taken by the bandits. This fact Id was ascertained shortly after the robfi bery and a duplicate shipment was S sent from Chicago immediately. de Men Now Operating Holdings.-WN. p liam Maxwell, state mining inspector, H who recently organized the Highland C Consolidated Mining company, has se taken a crew of men to the property, 19 miles south of Butte to start the B work of getting things ready for active K operations. The property, which cono sists of 19 adjoining claims, has been M nactive for the past eight years. More to than a score of Butte persons are ownper ers of the group, which was recently consolidated by the Highland company, st Crops in Richland Show 100 Per an Cent-The weekly crop report is as fe ollows: Richland county's wheat to lax and oats acreage maintaining 100 er cent condition. Corn slightly backM vard with promise of being knee high y July 4. Sugar beet acreage of best ut little chance for weeding. Alfalfa, ay and grazing continuing improve cla nent even over last week. Five rains Ch uring last week total two and three Ce uarters inches. Best prospect in pa istory. will Bank WIII Pay Dividend.-A diviend of 35 per cent will be paid soon by the depositors of the West Side mu tate bank of Great Falls following the thi ranting of the petition of Receiver H. peo Emerson, filed in the district court, the sking permission to disburse $23,717 per ow available for that purpose. a Improve Beaver Creek Roadmir hrough an arrangement in which ins ewis and Clark county and the forit service are co-operating, the highgra I ay from Nelson up Beaver creek to bas e Martien ranch is being repaired. of here is considerable bridge work to done. pre feet

5. July 29, 1924 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, July 29, 1924

Click image to open full size in new tab

Article Text

Probe Fire Menace J. E. Mitchell and other residents of Fifth avenue south petitioned the council for the removal of an unoccupied frame building at 1109-11 Fifth avenue south. The house is termed a menace to the community and a fire hazard which operates to increase insurance rates. The fire chief and the fire committee were ordered to investigate. S. D. Largent was given permission to reshingle two frame buildings at 608 and 610 Third avenue south after a letter had been read stating that the owner was not aware that the houses were in the special fire zone, thus requiring a permit from the city council. Receipts from the water department for the month of June were listed at $12,743.60 in a report from John J. Holmes, registrar of the water department. During the same time the expenditures were $7,317.47. A resolution from the committee on public improvement recommended the creation of a sprinkling district on Second avenue north between Twenty-sixth and Thirty-sixth streets and the council adopted it on first reading. An ordinance establishing a sprinkling district to include the following streets was adopted on final reading: First avenue southwest from Railroad avenue to Ninth street; Sixth avenue north from Twentieth to Twenty-third streets and Twentieth street from Fourth to Sixth avenues. The bid of the West Side State bank receiver for a vault door and safe for the city treasurer's office was adopted by the council. The price to be paid is $575 when the safe and door is delivered to the treasurer's office.

6. July 29, 1924 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, July 29, 1924

Click image to open full size in new tab

Article Text

Paving Cleared Streets Mayor H. B. Mitchell called attention to the fact that paving operations had made a rigorous enforcement of the law and Alderman B. Joyce then moved that the police department give a week's notice before making any arrests. Aldermen A. Haugse and Harvey Read asked to be shown how it is possible for the city council to order a stay in the enforcement of any city ordinance, but the other councilmen answered by passing the resolution. Specifications for a motor driven, combination chemical pumping engine and hose cart for the fire department were read and a resolution was adopted directing the city clerk to advertise for bids. Chief A. J. Trodick estimates that it will cost $11,000. The engine must be capable of developing 100 horse power north between Twenty-sixth and Thirty-sixth streets and the council adopted it on first reading. An ordinance establishing a sprinkling district to include the following streets was adopted on final reading: First avenue southwest from Railroad avenue to Ninth street; Sixth avenue north from Twentieth to Twenty-third streets and Twentieth street from Fourth to Sixth avenues. The bid of the West Side State bank receiver for a vault door and safe for the city treasurer's office was adopted by the council. The price to be paid is $575 when the safe and door is delivered to the treasurer's office. George Knutson, a member of the police force and a republican candidate for sheriff was granted a 30-day leave of absence effective August 1.

7. August 14, 1926 The Great Falls Leader Great Falls, MT
Article from The Great Falls Leader, August 14, 1926

Click image to open full size in new tab

Article Text

STOCKHOLDERS OF WEST SIDE BANK DEFAULT Default Judgments Against W. W. Moses and L. H. Hamilton Granted by Judge H. H. Ewing to S. J. Doyle. Receiver S. Doyle as receiver of the West Side State bank of Great Falls was yesterday granted default judgments against W Moses and L. H. Hamilton for $605 65 and $1,205 65, respectively, In district court by Judge H. H. Ewing The enforcement of phyment of stockholders' statutory liability was the object of the The bank Receiver Doyle stated In the action. is "hopelessly insolvent. and in order to pay its debts and liabilities it was necessary to collect the full amount for which the stockholders were liable Such collection was authorized by the court on April 23. 1924. when an order was Issued requiring the payments to be made on or before May 1926. The other stockholders who are residents in the United States paid the full amount of their liability.

8. August 14, 1926 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, August 14, 1926

Click image to open full size in new tab

Article Text

ENTER DEFAULT JUDGMENTS TO BANK RECEIVER Two Stockholders in West Side Institution Have Not Paid Liability Default judgments' for $605.65 and against W. W Moses and L. H. Hamilton, respectively, were Friday granted S. Doyle. as receiver of the West Side State bank of Great Falls, by District Judge H. H. Ewing. The action was instituted to enforce payment of stockholders' statutory liability. The bank, according to the complaint. was capitalized at $25,000. divided into 250 shares of $100 par value each, On December 21. 1923, the institution suspended operations and Mr Doyle was appointed receiver on June 28. 1924. Needs Full Liability In the action, the receiver stated that the bank is "in hopelessly insolvent condition." and that in order to pay its debts and liabilities it was necessary to collect the full amount of stockholders' liability. Such action was authorized by the court on April 23. 1924. which issued an order requiring the payments to be made ratably on or May 1926. G. P. Andrews, Newman. James Byre. Jone Boehme F. G. Givens, W. H. George. L. H. Diehl. Margaret B. Johnson Lucy A. Major. Robert Rundle Minnie Schubert. Mary E. Stone. W Sherwood, Lorene Burks and D. K. Schrader. all stockholders. it was stated. remitted the full amount of their liability. Two Have Not Paid Moses. however. was alleged to have failed and refused to pay $500 asand similar charge was made against Hamilton, who was liable for $1,000. The two defendants are the only persons against whom action can be taken as Berry McDonald Edna O'Brien. the Ottawa Banking & Trust company as trustee for Katherine Lou Rhoades and Horace Rhoades. other stockholders. are residents of Canada and cannot be sued.

9. May 26, 1927 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, May 26, 1927

Click image to open full size in new tab

Article Text

BANK'S ASSETS SELL FOR $2,400 ON WEST SIDE Herman Ofstedahl Buys Remaining Property Subject to Court Order Remaining assets of the West Side State bank of Great Falls, which have an approximate face value of $35,000, were sold in bulk Wednesday afternoon to Herman Ofstedahl for $2,400 by Doyle, receiver the bank. The sale subject to confirmation by the district court. Sale of the assets of the insolvent bank attracted but little and the bidding quiet. held at the bank building at 501 First avenue and assets were offered for sale by individual items shortly after The only asset to bring fair price the south 40 feet the east half of lot block 594. Great Falls, which sold to D. Stevenson for $920. Lot 6. bleck 13. west Great Falls, was tentatively sold to H. Usher. The total of individual sales reached $2, 104. The property was then sold in bulk and bidding keen short between Mr. Ofstedahl. D. Crich ton. H. Corcoran, Frank Wallace and E. Murphy. The sale price was increased to by Mr. Ofstedabl and the property tentatively sold to him. Included among the assets sold were unsecured bills receivable of $23,463. secured bills receivable of $9.notes in judgment $1,354. real estate and the banking house furniture and fixtures. The West Side bank suspended 1923, and has since that time paid three dividends totalling 65 per cent. Total liabilities of the institution were $69,000. Following confirmation of Wednesday's sale, an additional dividend of five per cent expected. Receiver Doyle stated that the receivership would be terminated soon as possible after distribution of the dividend.

10. May 29, 1927 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, May 29, 1927

Click image to open full size in new tab

Article Text

DOYLE REPORTS ON WEST SIDE BANK'S ASSETS Only 12 Unsecured Notes of Total of 61, Bid Upon, Says Receiver A report on the sale of all assets of the West Side State bank and petition for confirmation of the sale were Saturday filed in district court by S. J. Doyle, receiver of the bank. A hearing to show cause why the sale should not be approved was set for June by Judge H. H. Ewing. The property of the bank. it is stated in the petition, was sold tentatively bulk to Herman Ofstedahl for $2,400. The face value of the accounts due, secured and unsecured. judgments, etc., was in excess of $35,000. The sale of the assets on May 25 was without material interest, it shown by the report, and of a total of 61 notes but 13 were bid upon. These were sold at the following prices: Walter Weller note, $314.41. sold to H S. Hansen. $4: T. Quady note, $169. sold to H. S. Hansen, $1; Julius Peters note for $500, sold to J. E. Peters for $10; Gordon Nelson note for $149. sold to H. S. Hansen for $1; A. Porter note for $99. sold to Frank Wallace for E. and William Mann note for $116. sold to H. S. Han sen for $5; H Mann notes. totaling $893. sold to H. S. Hansen, $10: C. Morin's notes of $150. sold to Frank Wallace, $2: John Dirschman note $182, sold to H. W. Usher, $1; J. F. note, $135. sold to A. Larson. $1, and Sarah and William Cline note of $135, sold to H. S. Hansen, $1. Practically all secured notes were sold individually, and were notes of Mann, $159. sold to H. S. Hansen, $5: E. Dykeman note for $1,340 sold to Frank Wallace. $850 Dahlin notes of $4,015. sold to Dahlin, $11 Martin Frey note of $559. sold to Frank Wallace. $10: Nellis note of $610. sold to Wallace, $15: R. B. Noble note of $2,000. sold to H. W. Usher. $40. and Wallace Sharp note for $104 sold to Wallace, $1. Other property sold individually includes partof lot 8, block 594. Great Falls, sold to D. Stevenson for $920: lot 6, block 13. West Great Falls, sold to W. Usher. $50; A judgment for $143, sold to J. H. Corcoran for $10.50, and office furniture and fixtures. The of the individual sales was but $2,103.

11. July 15, 1927 The Great Falls Leader Great Falls, MT
Article from The Great Falls Leader, July 15, 1927

Click image to open full size in new tab

Article Text

Doyle Is Discharged From Receivership of West Side Bank Doyle receiver the West Side Great has been discharge by Judge H. Ewing district and all by checks not yet received dividend creditors of the bank be received Harper from clerk of the court George The West Side bank suspended December paid 70.8 per on general which the highest yet recordered for end the state in liquidated When closed the bank had of day $112.770 liabilities of individual deposits of public posits $24,950 and $17,720 paid up as $26.460 collected from bill receivable and $8,651 from sources