9551. Dillworth State Bank (Dilworth, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1928*
Location
Dilworth, Minnesota (46.877, -96.703)

Metadata

Model
gpt-5-mini
Short Digest
57c5b02d

Response Measures

None

Description

Articles (1933 profiles of Owen M. Lamb) state there was a run on the nearby Moorhead National Bank in 1928; the closing of Moorehead caused the Dillworth bank to close. The evidence indicates Dillworth closed as a consequence of another local bank's failure rather than a depositor run directly on Dillworth. No reopening or receivership details are provided.

Events (1)
1. January 1, 1928* Suspension
Cause
Local Banks
Cause Details
Run on the nearby Moorhead National Bank in 1928 led to the closing of the Dillworth State Bank; Dillworth closed as a consequence of the Moorehead failure.
Newspaper Excerpt
There was run on the Moorehead bank in 1928 and Lamb closed it... Closing of the Moorehead bank caused the Dillworth bank to close
Source
newspapers

Newspaper Articles (3)
1. April 19, 1933 Lexington Herald-Leader Lexington, KY
Article from Lexington Herald-Leader, April 19, 1933

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Article Text

BY RODNEY DUTCHER Service Writer WASHINGTON, April No. 38163 Convict 38155 were cellmates at the Leavenworth penitentiary. They the office building the house Convict No. 38163 has Francis H. Shoemaker of Minnesota. Convict No. 38155 man he chose his secretary after Lamb, who used to be bank president. They two years the train them sending "scurrilous matter" through the mail, and Lamb for violation the banking Shoemaker of the four new congressmen elected in Minnesota last November. still before elections committee the tention that his conviction took away his citizenship, but the house March voted 230 to to allow him take his medium man always to fight for the farmers and wage earners. Lamb of Like Shoemaker, he doesn't mind admitting that he an But he does want known that he sentenced only for violation that depositors his bank been paid off 75 cent, pretty good rate for busted banks says Shoemaker when asked why selected to handle his office in fine man. He He spent months France driving bulance the front. He used to be chemist until his family left him bank. He's graduate the University of North weil-posted economics knows about problems. He has the confidence the people his community. They know he honest and Shoemaker. radical editor promoter plants, fought the Republican He campaigned against Congressman August Andresen, Republican in 1930. About that time in his paper, "The Organized was waging campaign against bankers who held trusts loaded beneficiaries. He especially attacked banker after being compelled make good in that him Shoemaker back, addressing the Robber and Orphans.' judge whom Shoemaker he to tool the power him. He had the choice year day or five years bation. He chose the former. So Shoemaker and Lamb met on the train. maker landed the chaplain's office Lamb became clerk. Lamb down the life histories thousands of prisoners. Shoemaker studied the and within the prison. Today prison the of went back the nomination against Andresen last year, elected. Lamb had been president of Dillworth state bank director of the larger National bank nearby. There on Moorehead bank in and Lamb closed to protect depositors. Closing of the Moorehead the Dillworth bank to close and Lamb he lost $70,000. But was left holding the bag for about $4,500 which been left improperly by deal the some school Lamb paid off the thought once but few days before the statute out arrested result what he "political spite After Leavenworth he returned Minneand helped Shoemaker the 1932 campaign. Lamb shares Shoemaker's progressive views and takes an eager interest in the national banking situaShoemaker inflationist and favors calling and paying off rency, which charge about billion dollars force present

2. April 21, 1933 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, April 21, 1933

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Article Text

BEHIND THE SCENES IN WASHINGTON WITH RODNEY DUTCHER Washington.-Convict No. 38163 and Convict No. 38155 were cellmates at the Leavenworth penitentiary. They are still "cellmates"-in the office building of the House of Representatives. Convict No. 38163 has become Congressman Francis H. Shoemaker of Minnesota. Convict No. 38155 is the man he chose as his secretary after election-Owen M. Lamb, who used to be bank president. They met two years ago on the train carrying them to prisonShoemaker after conviction for sending "scurrilous matter" through the mail Lamb for violation of the banking laws. Shoemaker is one of the four Farmer Labor congressmen elected in Minnesota last November. His case is still before an elections committee on the that his conviction took away his citizenship, but the House in March voted 230 to 75 to allow him to take his seat. A gray-eyed, medium height, man he is, always anxious to fight for the farmers and wage earners. Lamb is heavy-set, white-haired plain-spoken man of 44. Like Shoemaker, he doesn't mind admitting that he is an ex-convict. But he does want it known that he was sentenced only for "technical" violation and that depositors in his bank have been paid off 75 per cent, pretty good rate for busted banks. "Ability," says Shoemaker when asked why he selected fellow-convict to handle his office in Washington. "There's a fine man. He is a humanitarian. He spent seven months in France driving an ambulance at the front. He used to be a chemist until his family left him bank. He's graduate of the University of North Dakota. "He is well-posted on economics and knows all about banking problems. He has the confidence of the people of his community. They know he's honest and so do I." "Shoemaker, radical editor and a promoter of municipal power plants, fought the Republican machine in Minnesota for years. He campaigned against Congressman August H. Andresen, Republican in 1930. About that time in his paper, "The Organized Farmer,' he was waging campaign against bankers who held trusts and unloaded stocks on beneficlaries. He especially attacked one banker who, after being compelled to make good in that sort of case, wrote him mean letter. Shoemaker wrote back, addressing the envelope to Robber of Widows and Orphans." A judge whom Shoemaker says he had referred to as "a tool of the power trust," sentenced him. He had the choice of a year an da day at Leavenworth or five years of probation. He chose the former So Shoemaker and Lamb met on the train. Shoemaker landed in the chaplain's office and Lamb became clerk, Lamb took down the life histories of thousands of prisoners Shoemaker studied the cases and recommended placements within the prison. Today Shoemaker has his prison the tags of his automobile. He went back to Minnesota, obtained the Farmer-Labor nomination against Andresen last year, and was elected. Lamb had been president of the Dillworth state bank and director of the larger Moorehead National bank in nearby. There was run on the Moorehead bank in 1928 and Lamb closed it to protect Closing of the Moorehead bank caused the Dillworth bank to close and Lamb says he lost $70,000. But he was left holding the bag for about $4,500 which had been left improperly uncovered by an inside deal involving the use of some school warrants. Lamb paid off the $4,500 at once and thought it was settled, but few days before the statute of limitations ran out he was arrested as a result of what he calls "political spite work."

3. April 23, 1933 The Independent-Record Helena, MT
Article from The Independent-Record, April 23, 1933

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Article Text

TWO HIGH CELL MATES, THESE AND SECRETARY AS CONGRESSMAN TOGETHER, RODNEY April No. 38163 and convict No. at the building of house Convict No. 38163 has become Congressman Francis Convict No. the chose secretary Lamb, used be bank president. They met two years ago on train carrying them Shoemaker after conviction for sending "scurrilous through the mail. and Lamb for violation the banking Shoemaker one the farmer congressmen elected Minnesota November. IIIs still before elections committee the contention that conviction took but the house in March voted 230 to allow him to take Neither Ashamed gray-eyed. medium man he always anxious fight for the farmers wage earners. Lamb heavy-set whitehaired he doesn't mind that he ex-convict. But docs known that sentenced only for technical' violation and that depositors have been cent. pretty good for busted banks. says Shoemaker asked selected fellowconvict handle Wash"There's fine He spent months France driving bulance the front. He used chemist until his family graduate of the bank. University North Dakota. on economics and knows all about banking probHe has confidence the of his community. They people honest and Tangled With banker radical editor and Shoemaker, promoter of municipal power plants. fought the republican chine Minnesota for years. He campaigned against CongressAugust republiman in 1930. About that time Organized Farmer." paper. campaign against bankers who held trusts and unloaded worthless stocks benefiespecially attacked banker who, after being compelled make good that sort wrote letter back, addressthe envelope Robber and Orphans." judge he had ferred tool sentenced him. He had the choice year and day five years of the former. So Shoemaker Lamb met the train. Shoemaker landed chaplain's office and Lamb the clerk. Lamb took down the histories thousands of prisonShoemaker studied the cases recommended placements the prison. Prison Number Car Today has automobile. back Minobtained the farmer-labor nomination against Andreson elected Lamb had been president of Dillworth state bank the larger Moorchead Nationbank community on the Moorehead bank and Lamb closed Closing of the protect depositors. Moorchead bank caused the Dillworth close and Lamb But he was holding the about which had been improperly uncovered by involving the Lamb paid off school and thought settled. but days before statute of limitations arrested result of what After and he helped turned Shoemaker in the 1932 campaign. Share Progressive Views Lamb shares views and takes eager gressive in the national banking situation. inflationist and government bonds favors calling paying them he would elimrency, which interest charge of about inate dollars and force billion holders of tax-exempt present to billion year curities pay taxes amused by the house heer He barred ex-convicts from which selling beer. voted by huge they to let me sit congress, jority then they passed from tending prohibiting saloon.