State Bank - Hinckley, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 7, 1926
Location: Hinckley, Minnesota (46.011, -92.944)

Metadata

Model: gpt-5-mini
Short Digest: 15b4f0fc

Response Measures

None

Description

Article (minutes of Pine County Board, Dec 7, 1926) records that the State Bank of Hinckley 'was closed by the banking department.' No run or depositor panic is described; closure appears to be by banking authorities (government action). Date of county resolution is 1926-12-07.

Events (1)

1. December 7, 1926 Suspension

Cause: Government Action
Cause Details: Bank was closed by the state banking department (official action); county audit notes cashier's check not paid because bank was closed by banking department.
Newspaper Excerpt: claim against State Bank of Hinckley for cashier's check received as payment for taxes, but which was never paid, as the bank was closed by the banking department.
Source: newspapers

Newspaper Articles (1)

1. December 16, 1926 Askov American Askov, MN

Article from Askov American, December 16, 1926

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Article Text

OFFICIAL MINUTES OF COUNTY BOARD Following are the Official Proceedings From Meetings of the Board of Pine County Commissioners. Auditor's office, Pine City, Minnesota, December 6, 1926. One o'clock m. p. The Board of County Commissioners, Pine County, Minnesota, met this day pursuant to adjournment. All members present. The matter of petitions of Adolph Halloway and Fred C. Gaul, asking that they with their land be set off from District No. 100 to District No. 106 was taken from the table and considered. After due consideration, Commissioner Wilcox moved that both petitions be denied. This motion was duly seconded and carried. The plat of Pokegama Lake Addition was presented to the Board for approval. Commissioner Matz Petersen moved that the matter of approving this plat be laid over. Motion carried. Miss Jean Johnson from the Children's Bureau appeared before the Board with a report of the activities of the Child Welfare Board, also urging the Board to continue with this work for another year. On motion by Commissioner Degerstrom, seconded by Commissioner Wilcox, it was ordered that the Child Welfare Board be continued for another year. Following communication was presented and read: Mr. Albert Johnson, County Attorney, Sandstone, Minnesota. Dear Sir: This is to acknowledge receipt of your letter of November 9th. Therein you inquire whether the county may legally erect electric lights on a bridge on a state aid road running through a village. I am of the opinion that the inquiry must be answered in the affirmative, providing the street or road on which the bridge is located within the village limits has been legally designated as a state aid road, The is no statute expressly authorizing a county to erect and maintain lights on roads within the jurisdiction of the county, as there is in case of towns maintaining the same on town roads. However, I am of the opinion that a county may erect and maintain lights on public highways where it is reasonably necessary so to do to render same reasonably safe for travel, where the county is under duty to maintain such roads. Yours truly, CHARLES E. PHILLIPS, CEP-D Assistant Attorney General. Report of the Public Examiner, of the books and affairs of Pine County for the period of December 11, 1925 to October 25, 1926, was presented to the Board, examined and ordered filed. A committee consisting of Commissioners Matson and Petersen was appointed to take an inventory of the county property. On motion the board adjourned until December 7, 1926, at nine o'clock a. m. Auditor's office, Pine City, Minnesota, December 7, 1926, Nine o'clock a. m. The Board met this day pursuant to adjournment. All members present. Commissioner Wilcox made a motion that the Board purchase one Maytag washing machine for the County Farm. Commissioner Nels Matson offered the following resolution: RESOLVED, That the County Auditor, be and is hereby authorized to issue to Frank Poferl, county treasurer, a warrant in the amount of $126.89, drawn on the Revenue Fund of the county, to reimburse said Frank Poferl for claim against State Bank of Hinckley for cashier's check received as payment for taxes, but which was never paid, as the bank was closed by the banking department. And be it further resolved, that when any dividend is received from said bank, it is to be credited to the County Revenue Fund. The question was on the adoption of the resolution, and the roll being called there were five yeas and no nays, as follows: Yea Matz Petersen Yea E. L. Wilcox Yea Fred Degerstrom Yea Nels Matson Yea Mr. Chairman And so the resolution was adopted, this 7th day of December 1926. ANDREW P. EDIN, County Auditor. Mr. Ben Iron, town of Clover and Mr. Albert Schwitter. town of Arlone, appeared before the Board asking that some snow fences be put up along State Road No. 8. Commissioner Degerstrom made a motion that if the towns along said road put up one mile of snow fence this winter, the county would reimburse these towns for the fencing next year, but no reimbursement would be given for posts and labor for putting it up. Motion carried. Engineer Jorgensen reported that the county had the amount of $120.40 coming from the Minneapolis, St. Paul & Sault Ste. Marie Railroad Company for 430 cu. yds. of embankments between stations 1215-17.5 and 1216-17.5, job No. 26-13. He was on motion, instructed to send bill for this amount to said railroad company. The engineer also submitted statement of cost grading certain roads for Partridge township, as follows: $154.00 Engineer's wages Graderman's wages 196.00 152.67 Gasoline, oil and grease Total $502.67 Minutes of session of this board held October 26, read and approved as read. A resolution was unanimously adopted appropriating the sum of