9803. Moorehead National Bank (Moorhead, MN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Start Date
*
Location
Moorhead, Minnesota (46.874, -96.768)

Metadata

Model
gpt-5-mini
Short Digest
0823dfbd

Response Measures

Full suspension

Other: Bank name likely spelled 'Moorhead' (one o) in Minnesota; OCR shows 'Moorehead'. Closure appears permanent and caused other local bank trouble.

Description

OCR-heavy articles (Apr 1933) state that there was a run on the Moorehead National Bank and that Lamb 'closed' the Moorehead bank to protect depositors; closing of Moorehead reportedly caused the Dillworth (Dinworth) state bank to close. No explicit dates for the run/suspension are given in the extracts. Text contains OCR errors (e.g., 'Dinworth'/'Dillworth'); I corrected obvious names and inferred that the bank permanently closed (no mention of reopening or receiver, and closure caused other bank to close). Cause classified as bank-specific adverse information (internal irregularities/insider problems referenced).

Events (3)
1. * Other
Newspaper Excerpt
Lamb says ... been left holding the bag about been left involving the some school warrants the once thought settled, but before the statute limitations ran out he arrested result ... he helped Shoemaker in the 1932 campaign
Source
newspapers
2. * Run
Cause
Bank Specific Adverse Info
Cause Details
Internal improprieties/inside involvement (school warrants, improper items) and banking-law violations linked to bank management; depositor panic/run ensued.
Measures
Bank closed by its president (Lamb) to 'protect depositors' (temporary suspension of payments/closing of doors).
Newspaper Excerpt
There run the bank and Lamb closed protect depositors
Source
newspapers
3. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
President Lamb closed Moorehead National Bank following run/insider problems; closure of Moorehead triggered closure of nearby Dillworth/Dinworth state bank (contagion).
Newspaper Excerpt
Closing of the Moorehead bank caused the Dinworth bank close
Source
newspapers

Newspaper Articles (2)
1. April 21, 1933 The Charlotte News Charlotte, NC
Article from The Charlotte News, April 21, 1933

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Article Text

Behind The Scenes In RODNEY DUTCHER April No No. the Leavenworth penitentiary still the office building of the House of Representatives Convict 38163 has become Congressman Minnesota Convict No. the he his after to bank president. They ago the them prisonShoemaker for send"scurrilous matter mail Lamb for Shoemaker one of the four elected Minnesota November His still before his conviction away zenship the House March 75 to allow take his NEITHER IS ASHAMED medium height anxious fight for the farmers and wage Lamb maker he doesn't mind that he ex-convict But want known sentenced only violation bank pretty good rate for busted "Ability," Shoemaker when asked selected fellowconvict handle Washington fine man He months bulance chemist his family left bank graduate the University North Dakota well-posted economics about banking probHe has the confidence people They know he's honest and TANGLED WITH Shoemaker, radical and promoter power fought the Republican maMinnesota for He campaigned CongressAugust waging campaign against bankers held trusts and loaded claries. He especially one banker being compelled make addressing envelope Robber Widows and whom Shoemaker ferred power trust," sentenced him He had choice Leavenworth five probathe former Shoemaker and Lamb landed the chaplain's office came clerk Lamb life histories Shoemaker studied prisoners and recommended placements prison ON CAR PRISON Today Shoemaker prison the automobile Minnesota obtained bor nomination against Andresen Lamb had president State bank and director larger Moorehead National bank community nearby. There the Moorehead bank and Lamb closed proClosing Moorehead bank Dilclose and Lamb says Bue holding the bag about been left involving the some school warrants the once thought settled, but before the statute limitations ran out he arrested result what spite he helped Shoemaker in the 1932 campaign Lamb Shoemaker's progresviews takes interin the national banking situaShoemaker is an inflationist and government bonds and elimidollars year and the present securito pay billion year in amused by the House beer barred ex-convicts from huge then they passed prohibiting tending running saloon

2. April 23, 1933 The Independent-Record Helena, MT
Article from The Independent-Record, April 23, 1933

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Article Text

CELL THESE TWO HIGH ONCE MATES, AS CONGRESSMAN AND SECRETARY TOGETHER, RODNEY DUTCHER Washington, April No. 38163 and convict No. the office building of house Convict 38163 become Congressman Francis Shoemaker Minnesota. Convict No. secretary Lamb, used bank president. They met two years ago the carrying them Shoemaker after conviction for sending through the mail, and Lamb for violation the banking laws. Shoemaker the four labor congressmen elected Minnesota November His case still before elections committee contention that conviction citizenOwen Lamb the house March voted Shoemaker (once 280 to allow him to his seat. Neither Ashamed medium height, man he always anxious fight for the farmers Lamb heavy-set whitehaired Like he doesn't mind admitting that an ex-convict. But he does known that he sentenced for violation and that in his bank per cent, pretty busted banks. says Shoemaker when asked why selected fellowconvict handle office ington. "There's fine man. He spent months France driving bulance front. He used chemist until his family bank. graduate the University of North wrote well-posted on economics and knows all about banking probHe has the confidence the his community. They ferred people honest and do Tangled With banker choice Shoemaker, radical editor promoter municipal power plants, fought the republican chine Minnesota for years. the He campaigned against Congress- the man August H. Andresen, republiin 1930. About that time in Organized waging campaign against bankers who trusts un- the loaded stocks on beneficlaries. He especially attacked banker who, after being compelled good him letter back, addressenvelope Robber Widows and Shoemaker he had tool the power him. He the year and day five years of bation. chose former. So Lamb met train. Shoemaker landed in chaplain's office and Lamb beLamb took down the histories of thousands of prisonShoemaker studied the cases placements withprison. Prison Number on Car Today Shoemaker has his prison of back Minobtained the nomination against Andresen elected Lamb been president of the Dillworth state bank director larger Moorehead Nationbank in community nearby There run the bank and Lamb closed protect depositors Closing of the Moorehead bank caused the Dinworth bank close and Lamb says lost But he was left holding the bag for about which had been improperly by inside involving the school warrants Lamb paid off once and thought few days before the statute of limitations ran out arrested result After Leavenworth turned to Minnesota and he helped in the campaign. Share Progressive Views Lamb shares Shoemaker's views and takes eager interest in the national banking Shoemaker inflationist and favors calling in bonds and paying them off with curwhich he would elimrency, interest charge about inate an billion dollars year and force holders of tax-exempt present to billion year in curities pay amused by the house beer He which barred ex-convicts from selling beer. "First they voted by huge majority to let me in congress,' then passed he prohibiting from bar running saloon.