First National Bank (Craig, NE)

View Charter #9591 on SPMC View balance sheet

Episode Information

Episode UID
959101599
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
95910 national
Charter Number
9591
Start Date
March 1, 1933*
Location
Craig, Nebraska (41.786, -96.364)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e119569ba7049695

Response Measures

None

Receivership Details

Depositor recovery rate
78.8%
Date receivership started
1933-01-30
Date receivership terminated
1937-03-30
Share of assets assessed as good
36.8%
Share of assets assessed as doubtful
44.4%
Share of assets assessed as worthless
18.8%

Description

The articles discuss a political shake-up of receivers for banks that had already failed and were in receivership by July 1933.

Events (4)
1. November 26, 1909 Chartered
Source
historical_nic
2. January 30, 1933 Receivership
Source
historical_nic
3. March 1, 1933* Suspension
Cause
Government Action
Cause Details
The bank was under receivership following the March 1933 banking crisis.
Newspaper Excerpt
I have objected to the way receivers were administering these banks since last March.
Source
newspapers
4. July 22, 1933 Receivership
Newspaper Excerpt
Mullen and Congressman Edgar Howard of Columbus had recommended the removal of the receiver for the First National Bank at Craig.
Source
newspapers

Newspaper Articles (4)
1. July 22, 1933 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, July 22, 1933

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Article Text

SHAKEUP IN BANK RECEIVERS STARTED New Ones at Alliance and Says Were Partisan. WASHINGTON. (/P). A general shake-up in recievers of Nebraska's national banks was reported under way Friday by Arthur Mullen of Omaha, Nebraska's democratic national Receivers for the First National bank Alliance and the First Union National bank of Fremont have been removed. Mullen said he and Howard Columbus had recommended the removal of the receiver for the First National bank at Craig. have objected to the way recievers these banks since last March,' Mullen said. "Some have operating on partisan basis. Our aim is to assure fair and competent handof trusts and other matters. Edgar M. Marlo of Hemingford at Alliance, replacing Torgeson. D. Becher of appointed receiver at Fremont to replace George S. Austin. Harry Hundley of Omaha has been recommended to succeed E. Love at Craig. No change in attorneys recommended for Craig but Mitchell and Gantz will replace Boyd and Metz at Alliance and N. H. Mapes will replace the present attorneys at Columbus. Mullen said he was informed of the changes at with Comptroller of the Currency O'Connor. Mullen predicted more revisions in the near future.

2. July 24, 1933 Fremont Tribune Fremont, NE
Article from Fremont Tribune, July 24, 1933

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Article Text

DEPOSITOR GROUP OPPOSES REMOVAL OF BANK RECEIVER Plan Public Meeting to Voice Objections to Austin Removal Depositors of the Union National bank who object to the removal of George 8. Austin, of Orleans, as receiver of the institution have made plans for a protest meeting to be held in the Premont Chamber of Commerce rooms Tuesday evening at 7:30. The meeting follows the sending of telegram Saturday night by group of depositors to the comptroller of currency in Washington, D. C. asking that Austin be retained and praising the present receiver for his efficient and economical administration of the bank's Information concerning the removal of Austin and the appointment of D. A. Becher, of Columbus in his place was received in news dispatches from Washington Sa.urday morning. The dispatches said Arthur Mullen, of Omaha, democratic national from Nebraska who maintains offices Washington, had that a shakeup or in national banks of Nebraska was under way A. E. Torgeson has been removed as receiver of the First National bank of Alliance and Edgar M. Mario, of Hemingford, selected to replace him Mullen and Congressman Ed. gar Howard. of Columbus also have the removal of J. Love as receiver of the First Nati onal bank of Craig and the substitution of Harry Hundley, of Omaha, was Make Objections The group of depositors of the Union National bank, the leaders which include prominent democrats took steps immediately toward remonstrating with the federal bank. ing department against change the local bank They say Austin has been handling the aftairs here as economically as possible and that be has the work of the well under way They contend that a change at this time is not destr able and not practicable Austin has the preliminary work of the out of the way LOW they state, and his work date has been satisfactory Any change that made purely for political reasons they contend say ing that the appointment of other receiver to relieve tent administrator smacks too much of partisan Were Not Consulted The reported removal of Austin came as surprise the of depositors and this has caused the complaint that the action change the receiver was taken without regard to the sentiment of the depositors of the bank or residents of the city The leaders of the are not acquainted with Bechgroup

3. July 27, 1933 The Alliance News Alliance, NE
Article from The Alliance News, July 27, 1933

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Article Text

Announce Change of Bank Receivers for First Nat'l. Coming as one of the first political in the national banking sys tem, the changing of receivers for the First National Pank of Alliance WAS announced at Washington this week. Arthur E. Torgeson of Scottsbluff has by E. Marlowe, at torney of Hemingford. as receiver of the bank here. The announcement came from Washington with statement by Arthur Mullen, Nebraska's demeratic national committeeman, freely stated that other shake-ups might be erpected in the banking ceiverships. Attorneys Mitchell & Gantz of this city, prominent Democrats. have been appointed as attorneys for the receiver ship in the stend of Boyd Metz, who have been acting under the administration. The change in the ceivership and the attorneys came after conference with Comptroller of the Currency O'Connor. It was also stated that change has been made in the receivership for the First National Bank at Craig and for the receiver of the First Union Na. tional bank of Fremont. These changes were anniunced at the same time the change for Alliance was Mr. Marlowe will assume his immediately.

4. July 27, 1933 Madison Star-Mail Madison, NE
Article from Madison Star-Mail, July 27, 1933

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Article Text

General Shake-Up In Bank Receivers With a few changes already made in Nebraska's national bank receivers, a general shake-up is predicted by Arthur F. Mullen, democratic national committeeman. Receivers for the First National Bank of Alliance and the First Union National Bank of Fremont have been removed. Mullen said he and Congressman Edgar Howard of Columbus had recommended the removal of the receiver for the First National Bank at Craig. Commenting on the action, Mullen said, "I have objected to the way receivers were administering these banks since last March. Some have been operating on a partisan basis. Our aim is to assure fair and competent handling of trusts and other matters."