First State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 30, 1936
Location: Ely, Minnesota (47.903, -91.867)

Metadata

Model: gpt-5-mini
Short Digest: e1dda236

Response Measures

None

Description

Article (The Ely Miner, 1936-07-30) reports the defunct First State Bank of Ely with a receiver (J. E. Draeger) distributing dividends (total 62%). There is no mention of a run; the bank is in receivership/liquidation and thus permanently closed.

Events (1)

1. July 30, 1936 Receivership

Newspaper Excerpt: Sixty-two per cent in dividends have been distributed to depositors of the defunct First State Bank of Ely by Receiver J. E. Draeger and the state banking division.
Source: newspapers

Newspaper Articles (1)

1. July 30, 1936 The Ely Miner Ely, MN

Article from The Ely Miner, July 30, 1936

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Article Text

Bank Dividend This Week. Sixty-two per cent in dividends have been distributed to depositors of the defunct First State Bank of Ely by Receiver J. E. Draeger and the state banking division. Checks for five per cent were received by depositors this week bringing the total to 62 per cent.