Havre National Bank (Havre, MT)

Episode Information

Episode Type
Suspension → Closure
Start Date
September 16, 1921
Location
Havre, Montana (48.550, -109.684)
Bank Type
national
Charter Number
9782

Metadata

Receivership Details

Depositor recovery rate
18.4%
Date receivership started
1921-09-16
Date receivership terminated
1928-10-20
OCC cause of failure
Economic conditions
Share of assets assessed as good
41.1%
Share of assets assessed as doubtful
32.8%
Share of assets assessed as worthless
26.1%

Notes

Known receivership date (1921-09-16) used as authoritative; articles describe post-closure receiver actions and dividends.

Events (5)

1. June 13, 1910 Chartered
Source
historical_nic
2. September 16, 1921 Suspension
Cause
Government Action
Cause Details
Bank was closed and placed in receivership (receiver Frank Browne) in September 1921.
Newspaper Excerpt
the bank closed in September 1921 and Receiver Frank Browne has been in charge
Source
newspapers
3. September 16, 1921 Receivership
Newspaper Excerpt
Receiver Frank Browne has been in charge of the affairs of the institution since it closed in September 1921 and he has been unusually successful in the management of its affairs.
Source
newspapers
4. September 16, 1921 Receivership
Source
historical_nic
5. October 5, 1923 Other
Newspaper Excerpt
announcement of the receipt of dividend checks ... for the first dividend of 10 per cent to holders of receiver's certificates on the Havre National bank was made last night by Receiver Frank Browne
Source
newspapers

Newspaper Articles (10)

Article from The Gildford Tribune, April 26, 1923

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ALIAS SUMMONS

In the District Court of the Eighteenth Judicial District of the State of Montana, in and for the County of Hill. H. J. MASTERS, Plaintiff. vs. ORVAL A. LUCAS and EVELYN LUCAS, his wife, THE HAVRE NATIONAL BANK, a corporation, FRANK BROWN, as receiver of THE HAVRE NATIONAL BANK, a corporation, and HILL COUNTY, MONTANA, Defendants. ALIAS SUMMONS FOR PUBLICATION

THE STATE OF MONTANA SENDS GREETING TO THE ABOVE NAMED DEFENDANTS: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, and to file your answer and serve a copy thereof upon the plaintiff's attorney, within twenty days after the service of this summons, exclusive of the day of service; and in case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the complaint.

The said action is brought for the purpose of recovering the sum of Thirteen Hundred Eighty-eight and 15-100 ($1388.15) Dollars, together with interest, attorney's fees and costs, upon a certain promissory note, made, executed and delivered by the above named defendant Orval A. Lucas to Barnes Brothers, Incorporated, a corporation, on March 8th 1916, and for the purpose of obtaining a decree of foreclosure of a certain real estate mortgage, made, executed and delivered by the said defendant, Orval A. Lucas, on March 8th, 1916, to said Barnes Brothers, Incorporated, a corporation, to secure the above named indebtedness, foreclosing all the right, title and interest of the above named defendants in and to the following described real property, to-wit: North half (N 1/2) of section twelve (12) in township thirty-four (34) north of range sixteen (16) east M. P. M., in Hill County, Mont., which said mortgage, and the indebtedness secured thereby, were, by the said Barnes Brothers, Incorporated, sold, assigned and transferred to the above named plaintiff, prior to the commencement of this action, all of which more fully appears from the verified complaint of the plaintiff on file herein, reference to which is hereby specifically made.

WITNESS My hand and the seal of this Court this 11 day of April, A. D., 1923. GEORGE W. GLASS, Clerk By (Court Seal) Deputy Clerk ALBERT ANDERSON, Attorney for Plaintiff. Glendive, Montana. (April 12—May 3)


Article from The Havre Daily News, June 2, 1923

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BANK RECEIVER APPEALS FROM DECISION

Transcript on appeal has been filed in the supreme court in the case of the Hawiian Products company of Honolulu, plaintiff and respondent, against Frank Brown, receiver of the Havre National Bank a case appealed from the district court of Hill county.

This is a case where to pay the claim of the products company against the Ryan Havre company of Havre a cashier's check of $4,572 was drawn and sent to a Chicago bank. The bank in Chicago sent the cashier's check to the Federal Reserve bank in Helena.

The bank in Havre to pay the check drew on the Federal Reserve bank in Helena for $6,000, but the cashier's check to the Federal Records shows, to the Havre bank not having sufficient funds to its credit to meet the payment. In the meantime the Havre bank had been closed.

The products company then brought action in the district court of hill county to have the receiver of the bank list the claim with the comptroller of currency as a preferred claim. The answer of the defendant admitted the transaction, but contended that no money had been exchanged, there simply being a change to entry credits.

Judge C. D. Borton of the district court held that the claim of the product company should be a preferred one, and the defendant appealed.


Article from The Havre Daily News, October 4, 1923

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PRESIDENT GOMPERS OF A. F. OF L. SPEAKS FOR CIGAR MAKERS AGAINST FASCISTI AND OTHER TYRANNY

(By the Associated Press) Portland, Oct. 3.—Pardon for Thomas J. Mooney at the hands of the governor of California, was asked in a resolution submitted to the convention of the American Federation of Labor here by the International Moulders union, which asked the convention to reaffirm the resolution that was in effect adopted by the moulders in convention at Cleveland, O.

President Gompers, as a delegate of the Cigar Makers' International union, joined with three other delegates of that union in introducing a resolution denouncing the fascisti movement and that "establishment of any form of tyranny in Italy or any other country, under whatsoever name it be launched."

Announcement of the receipt of dividend checks from the comptroller of the currency's office for the first dividend of 10 percent to holders of receiver's certificates on the Havre National bank was made last night by Receiver Frank Browne.

The checks are ready for delivery now and may be had by presenting receiver's certificates at the bank.

Receiver Browne says that the payment of a dividend at this time is made possible through the courtesy of Harry Yaeger, assistant deputy governor of the Federal Reserve Bank of Minneapolis, in waiving their dividend of 10 per cent on claims amounting to $132,000 until such time as the receiver is able to make collections to cover the same.

Announcement of the dividend is a delightful surprise to the people of Havre and it means the distribution locally of a substantial sum of money. Receiver Browne has been in charge of the affairs of the in-


Article from The Independent-Record, October 6, 1923

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First Dividend is Paid by National Bank, it is Reported

Havre, Oct. 5.—Announcement of the receipt of dividend checks from the comptroller of the currency's office for the first dividend of 10 per cent to holders of receiver's certificates on the Havre National bank was made last night by Receiver Frank Browne.

The checks are ready for delivery now and may be had by presenting receiver's certificates at the bank.

Receiver Browne says that the payment of a dividend at this time is made possible through the courtesy of Harry Yaeger, assistant deputy governor of the Federal Reserve Bank of Minneapolis, in waiving their dividend of 10 per cent on claims amounting to $132,000 until such time as the receiver is able to make collections to cover the same.

Announcement of the dividend is delightful surprise to the people of Havre and it means the distribution locally of a substantial sum of money. Receiver Browne has been in charge of the affairs of the institution since it closed in September 1921 and he has been unusually successful in the management of its affairs.


Article from Great Falls Tribune, October 7, 1923

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Defunct Bank Turns Over First Dividend Checks to Holders

Special to The Tribune.

Havre, Oct. 6.—Announcement of the receipt of dividend checks from the comptroller of the currency's office for the first dividend of 10 per cent to holders of receiver's certificates on the Havre National bank was made by Receiver Frank Browne.

The checks are ready for delivery now and may be had by presenting receiver's certificates at the bank.

Receiver Browne says that the payment of a dividend at this time is made possible through the courtesy of Harry Yaeger, assistant deputy governor of the Federal Reserve Bank of Minneapolis, in waiving their dividend of 10 per cent on claims amounting to $13,000 until such time as the receiver is able to make collections to cover the same.

Announcement of the dividend is a delightful surprise to the people of Havre and it means the distribution locally of a substantial sum of money. Receiver Browne has been in charge of the affairs of the institution since it closed in September, 1921, and he has been unusually successful in the management of its affairs.


Article from The Billings Gazette, October 10, 1923

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Montana-Wyoming Interstate News

Havre National 10 Per Cent Dividend

Havre, Oct. 9. — (Special) — Receiver Frank Browne has announced the receipt of dividend checks from the comptroller of the currency's office for the first dividend of 10 per cent to holders of receiver's certificates on the Havre National bank.

Receiver Browne says that the payment of a dividend at this time is made possible through the courtesy of Harry Yaeger, assistant deputy governor of the federal reserve bank of Minneapolis, in waiving their dividend of 10 per cent on claims amounting to $13,000 until such time as the receiver is able to make collections to cover the same.**

LONG JOURNEY FOR 80 MILES

Sheridan Man Travels 1,624 Miles to Make It.

Sheridan, Wyo., Oct. 9.—(Special)— Louis Jacobs of the Jacobs Clothing store has just had the unique expe-


Article from The Kevin Review, October 18, 1923

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National Bank Depositors Aid In Re-Opening H. E. Benjamin, who with others is active in working out plans to reopen the First National Bank, is very well satisfied as to the results already attained. Depositors are signing the extension agreement very freely, in fact there has been but one refusal according to Mr. Benjamin. He thinks it the only solution of the problem, to get it out of a receivers hands as soon as possible. He cites the instance of the Havre National Bank about ten days ago, paying ten per cent; it being the first and only payment to the depositors since the bank failed just two years ago. Under the hoped for arrangement for the local bank, 50 per cent would be paid in that period.


Article from The Chinook Opinion, December 6, 1923

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HAVRE BANK RECEIVER WINS SUIT

Helena, Dec. 4.—Accepting the argument of counsel for Frank Browne, as receiver for the Havre National bank, in the case brought against him by the Hawaiian Pineapple company, Ltd., that the lowest cash balance on hand in the bank between the time of the making of a collection for plaintiff and the time of the enforced closing of the bank is the only sum to which plaintiff would have a preference claim, the supreme court has remanded that cause to the district court of Hill county for modification of its judgment.

Under this decision, in an opinion delivered by Chief Justice L. L. Callaway, plaintiff will have a preference right to $1,801.62, instead of $4,572.88 as had been allowed by the lower court.


Article from The Hill County Sunday Journal, February 5, 1925

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ALIAS SUMMONS In the of the Eighteenth the State First Montana, in and for the County Wallace Holman, Plaintiff, Joseph McIntosh, Mrs. Joseph McIntosh. Havre Credit pany, The Havre Na tional Bank and Frank Browne, Receiver Havre National Bank, a corporaDefendants. The State to the above named and to of You, each of you, are hereby and the this action which is filed in the office Clerk of this Court, copy which is upon file upon the plaintiff's 'orneys twenty after the ervice of this exclusive he day service, and in of ailure to appear or will taken against or the relief demanded in the comThis action is brought to foreclose ne certain made. cuted delivered Joseph MeIntosh Barnes porated, August on the in Hill County, Montana, The Quarter (SE%) of section Township Thirty (36) North, Range (15) East, containing 160 less, according survey thereof, with the hereditaments and therebelonging which mortgage duly acknowledg by said and Septem her M. Clerk filed the office of the for record in and Recorder of Hill Montana and in Book 44 of Mortgages, said County page which and the and in debtedness thereby October 16, 1917. assigned, trans ferred, endorsed and delivered Barnes Brothers, plaintiff: and to the sum from evidenced by unpaid $21.03 taxes and cost abstract of by plaintiff $150.00 reasonable for attorneys and for plain and herein That under terms of the sought to foreclosed the sums of owing, payable and unpaid Plaintiff prays that the said mort be and under the visions be decree for the gage and for the sale of said that claims, the defend and the lien of plaintiff's and that proceedings be thorized in by practice this further particulars as to the cause of action set forth hereby made the plaint filed herein. and the seal of Court this 10th 1925 GEO. GLASS. (Court Clerk Rhoades Hauge Havre, Montana, for plaintiff. (1-16-25)


Article from The Box Elder Valley Press, April 17, 1925

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NOTICE OF SHERIFF'S SALE OF REAL PROPERTY

In the District Court of the Eighteenth Judicial District of the State of Montana, in and for the County of Hill.

Anna L. Pfiffner, Plaintiff, VS. Nye C. Smith, A. L. Ritt, the Havre National Bank, a corporation, and Frank Browne, as Receiver of The Havre National Bank of Havre, orporation, Defendants. Notice Is Hereby Given, That the undersigned Sheriff of Hill Coun Ly, Montana, pursuant to the order of sale in the decree of foreclosure entered in the above entitled action in the above entitled Court, will, on Friday, April 3rd, A. D. 1925, at the hour of 10 o'clock A. M., of said day, sell at public auction to the highest and best bidder for cash, in front of the Court House in the City of Havre, Hill County, Montana, the following described real property situate in the County of Hill, State f Montana, The Northwest Quarter (NW 1/ of Section Two (2) and the Northeast Quarter (NE% of Section Three (3), in Township Thirty-four (34) North, of Range Sixteen (16) East, Montana Principal Meridian, ontaining 320 acres, more or less. accord ng to the Government survey thereof. Date at Havre, Montana; this the th day of March, A. D. 1925. R. TIMMONS, Sher of Hill County, Montana. By E. C. Liggett, Under Sheriff Hildebrand & Warren, Attorneys for Plaintiff, Glendive, Montana. Mar. 13-20-27