Article Text
MASON CITY, IOWA.-The Bank of Meservey, a private bank, assigned to L. W. Phillips for the benefit of creditors. Liabilities, $37,000; assets, $34,000.
Bank of Meservey (Meservey, IA)
Episode Information
- Episode Type
- Suspension → Closure
- Start Date
- October 19, 1904
- Location
- Meservey, Iowa (42.913, -93.478)
- Bank Type
- private
Metadata
Notes
Assigned for benefit of creditors indicates failure and permanent closure with receiver involvement.
Events (2)
1.
October 19, 1904
Suspension
- Cause
- Voluntary Liquidation
- Cause Details
- Assigned to L. W. Phillips for the benefit of creditors; liabilities $37,000 vs assets $34,000.
- Newspaper Excerpt
- The Bank of Meservey, a private bank, assigned to L. W. Phillips for the benefit of creditors.
- Source
- newspapers
2.
November 4, 1904
Receivership
- Newspaper Excerpt
- The receiver in charge of the failed bank at Meservey has not made a report, but there is already talk of criminal proceedings ... there will be a shortage of something like $40,000.
- Source
- newspapers
Newspaper Articles (3)
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Article Text
Private Bank Assigns. The Bank of Meservey, a private bank. assigned to L. W. Phillips for the benefit of creditors. Liabilities; $37,000; assets, $34,000.
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Article Text
Big Shortage Alleged. The receiver in charge of the failed bank at Meservey has not made a report, but there is already talk of criminal proceedings against the men who are alleged to be responsible for the failure. It is said there will be a shortage of something like $40,000.