9554. Dilworth State Bank (Dilworth, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 20, 1933
Location
Dilworth, Minnesota (46.877, -96.703)

Metadata

Model
gpt-5-mini
Short Digest
772db858

Response Measures

None

Description

Newspaper accounts (April 1933) report the Moorehead bank's closing caused the Dillworth State Bank to close. No articles describe a depositor run or any reopening; therefore classified as a suspension leading to permanent closure. OCR errors in articles corrected (e.g., Dillworth misspelled as Dillworth/Dillworth in some lines). No receivership assignment explicitly mentioned in the excerpts.

Events (1)

1. April 20, 1933 Suspension
Cause
Local Banks
Cause Details
The failure/closing of the nearby Moorhead/Moorehead bank precipitated the Dillworth State Bank's closure; county/regional bank distress transmitted losses to Dillworth (president Lamb said Moorehead bank caused the Dillworth bank close).
Newspaper Excerpt
Closing the Moorehead bank caused the bank to close and Lamb says he lost $70,000.
Source
newspapers

Newspaper Articles (3)

Article from The Courier, April 20, 1933

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Article Text

CELL-MATES IN CONGRESS Congressman Frank Shoemaker and Secretary Met Inmates Leavenworth Penitentiary. RODNEY DUTCHER No. and Convict No. 155 cellmates at the Leavenstill the office of the house of repreConvict No. 38163 has become Congressman Francis Minnesota. Convict No. 38155 the man he chose his secretary M. Lamb, who used bank president. ago on the them maker for sending mail, and Lamb for violation of the banking laws. Shoemaker one of the four new congressmen elected Minnesota last November. His still before an elections on the contention that his conviction his citizenship, but the in voted 230 to allow to Neither Ashamed. medium height, man always to fight the farmers and wage earners. Lamb man Like Shoemaker, he doesn't mind admitting an But known that sentenced "technical" lation and bank off cent, pretty good for busted banks. says Shoemaker when asked selected fellowconvict to handle Washington. "There's man. He in France driving ambulance the He used his left him bank. graduate the versity of North Dakota. well-posted economics and knows about banking problems. He has the confidence the people of his They honest and so do Tangled with Banker. Shoemaker, radical editor and municipal fought the Republican machine Minnesota years. He campaigned against Congressman August Republican, About that time in his paper, Organized Farmer," was waging campaign against bankers trusts and loaded beneficlaries. He especially attacked one banker who, after being compelled make that wrote mean letter. wrote back, addressing the envelope Robber Widows and Orphans." judge Shoesays had referred trust,' He the choice and day years He chose the So Shoemaker Lamb met the train. landed chaplain's office and Lamb clerk. Lamb took down the life histories thousands prisoners. Shoemaker studied cases ommended placements within the prison Prison Number Car. Today has his prison the tags automobile. He Minnesota, obtained the against Andresen last year, was elected. Lamb been president of the Dillworth State bank and director the larger Moorehead National nearby. There was the bank closed tect Closing bank the bank and Lamb says he lost $70,000. But left holding the bag for about which had been improperly uncovered an inside deal involving the use some school warrants. paid off the $4,500 once thought was few before the statute ran out result what he calls "political leaving Leavenworth he turned he helped in the campaign. Share Progressive Views. Lamb shares Shoemaker's progressive views takes interest in the national banking situaShoemaker an inflationist and and with which says eliminate charge about year and force present holders tax-exempt securities billion year taxes. He amused the house beer bill which barred ex-convicts from selling voted by huge majority me congress, they passed me tending bar or running saloon


Article from Ironwood Daily Globe, April 21, 1933

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Article Text

Moorehead bank caused the Dillworth bank close and Lamb says he lost $70,000. But he left holding the bag for about $4500 which been left improperly uncovered by an inside deal involving the use of some school warrants. Lamb paid off the $4500 at once and thought was settled, but few days before the statute of limitations ran out he was arrested as result of what he calls "political spite work." After leaving Leavenworth he turned to Minnesota and he helped Shoemaker the 1932 campaign. Share Progressive Views. Lamb shares Shoemaker's progressive views and takes an eager interest in the national banking situation. Shoemaker is an inflationist and favors calling in bonds and paying them off with new currency, which he says would eliminate an interest charge of about billion dollars year and force present holders of tax-exempt curities to pay billion year in taxes. He is amused by the House beer bill which barred ex-convicts from selling beer. "First they voted by a huge majority to let me sit in congress," he says, "and then they passed law prohibiting me from tending or running saloon."


Article from Progress-Bulletin, April 26, 1933

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Article Text

April 26-Con38163 Convict No. were cellmates at the Leavenworth penitentiary. They still the office building of the House RepConvict No. 38163 become Congressinan Francis Minnesota. Convict No. 88155 the man he chose as his secretary M. Lamb, who used be bank president. They met two years ago on the carrying them Shoemaker after conviction for sending "scurrilous matter" thru the mail. and Lamb for violation banking laws. Shoemaker of the four new congressmen elected Minnesota last November His case still before elections committee on the contention that his conviction away his citizenship, but the House in March voted 230 to to allow him to take his Neither Is Ashamed medium always anxious to fight for the farmers and wage Lamb is haired man of Like he doesn't mind admitting that an But does known that he sentenced violation and that in bank off 75 cent pretty good rate for busted banks. "Ability," Shoemaker when asked why selected convict handle his office Washington. "There's fine man. He humanitarian. He spent months France driving ambulance the front. He used chemist until his family left bank. graduate the University North Dakota. "He on economics and knows about banking problems. He has the confidence people of his community. They know honest and do Tangled With Banker Shoemaker, radical editor and promoter municipal power fought the Republican machine Minnesota for years. He campaigned against Congressman August Andresen, RepubliAbout that time his "The Organized Farmer." waging campaign against bankers held trusts and loaded stocks He especially attacked one banker after being com- pelled to make good in that sort mean Shoemaker wrote back, the envelope Robber of Widows and Orphans." whom Shoemaker says had ferred tool of the power trust." sentenced him. He had the choice and day Leavenworth five years of probation. He chose the former. So Shoemaker and Lamb met the train. Shoemaker landed the chaplain's office and Lamb became Lamb took down the life histories of thousands of prisoners. Shoemaker studied the cases and placements within the recommended Prison Number on Car Today Shoemaker has his prison the tags automobile. He went back nesota, obtained the against Andresen last nomination and elected. president the Lamb been Dillworth state and director of the larger Moorehead bank community neartional There on the Mooreand Lamb closed head bank protect depositors. Closing the Moorehead bank caused the bank to close and Lamb says he lost he left holding the was $4500 which had been left for about by an inside deal involving the use of some Lamb paid off the $4500 once and thought was but days before the statute of limitations ran out he arrested result what "political spite work." After leaving Leavenworth turned Minnesota and he Shoemaker the campaign. Share Progressive Views Lamb shares Shoemaker's progressive views and takes eager interest in the national banking situation. Shoemaker is an inflationist and favors calling in bonds and paying them off with new which he says would elimirency, nate an interest charge of about billion dollars year and force present holders of tax-exempt securities to pay billion year in taxes. He amused by the House beer bill which barred ex-convicts from selling beer. "First they by large majority "and they passed law prohibiting me from tending bar running