Article Text
Bank Receiver Named St. James, Minn., Dec. J. Maloney, Heron Lake, has been appointed receiver of the First National bank of St. James, which closed its doors November 26. The action was taken by the federal comptroller of the currency.
9906. First National Bank (St James, MN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 4859
- Charter Number
- 4859
- Start Date
- November 26, 1926
- Location
- St James, Minnesota (43.982, -94.627)
Metadata
- Model
- gpt-5-mini
- Short Digest
2b24244b
Response Measures
None
Receivership Details
- Depositor recovery rate
- 89.9%
- Date receivership started
- 1926-11-30
- Date receivership terminated
- 1929-07-15
- OCC cause of failure
- Economic conditions
- Share of assets assessed as good
- 29.2%
- Share of assets assessed as doubtful
- 48.0%
- Share of assets assessed as worthless
- 22.8%
Description
Articles report the First National Bank of St. James closed its doors November 26, 1926, and the federal comptroller appointed a receiver (J. Maloney) Dec 10, 1926. No contemporaneous article describes a depositor run; closure was by federal action and resulted in receivership. A 1928 article references the receiver work continuing. Classified as suspension_closure (suspension by government action leading to permanent closure/receivership).
Events (4)
1.
February 11, 1893
Chartered
- Source
- historical_nic
2.
November 26, 1926
Suspension
- Cause
- Government Action
- Cause Details
- Closed by action of the federal comptroller of the currency on November 26, 1926.
- Newspaper Excerpt
- First National bank of St. James, which closed its doors November 26.
- Source
- newspapers
3.
November 30, 1926
Receivership
- Source
- historical_nic
4.
December 10, 1926
Receivership
- Newspaper Excerpt
- J. Maloney, Heron Lake, has been appointed receiver of the First National bank of St. James, which closed its doors November 26. The action was taken by the federal comptroller of the currency.
- Source
- newspapers
Newspaper Articles (3)
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Article Text
NEWS NOTES ASECA. Waseca County Agricultural Society has dorsed M. J. Parcher of Owatonna for election to the first district's seat on the State Fair board at the coming an nual election of the Minnesota State Agricultural Society. Officers elected by the society were: Hiram Powell, president; F. Sponberg. New Rich second vicepresident: E. H. Waseca, secretary; Waseca, dates for the The 1927 fair were fixed for August 24. 25 and 26. Prosecutor Visits Iowa Mason City, Iowa prosecuting attorney in the Olson murder du Wis. case passed through Mason City in quest, he said, of thoroughbred cattle rather than of the Clara Olson slayer. He had attended a sale at Linn Grove, Iowa. Minnesota Club to Celebrate Fergus Falls, Chippewa Club, strictly social organization of 125 business men here. is planning to celebrate its 25th anniversary with banquet and dance January 14. The club the oldest social organization of its kind in western Minnesota. S. D. Creamery Dedicated Volga, S. D.-Farmers joined with the townspeople here Friday to dedicate and formally open new creamery. Business men were hosts at noon dinner, followed by exercises. Speakers were I. D. Aldrich of Pierre, Mayor C. C. Dyball and Fred Williams. president of the creamery company. Train Hits Auto: Two Hurt St. Peter. Although dragged 30 feet when their automobile was struck by train near here, Lyle Saw. yer and John Strader of aKsota were but slightly Injured. St. Peter Will Have Rink St. Peter, Minn. of St. Peter will have safe place to skate this winter The city fire department has decided to flood rink, which will be open next week. One Hurt in Crossing Crash Chippewa Falls, Emil Henke 52 years old. farmer near Cadott, in St. Joseph's hospital here with his leg crushed and his skull fractured in two places as result of an accident when sleigh was hit by Soo Line passen. gren train at crossing in Cadott. St. James Bank Receiver Named St. James, Minn.-J. Maloney, Heron Lake, has been appointed receiver of the First National Bank of St. James, which closed its doors November 26. The ac. tion was taken by the federal controller of currency. Snow Shoveler Drops Dead Fairmont, Minn.- William M. Hay. 60 years old. fell dead today from heart disease as result of overexertion while shoveling snow from the sidewalk at his home here. Delayed Blast Kills Minnesotan Medberg. 28 years old of Alborn, Minn., was killed Wednes. day when dynamite cap used to blast Ice at lake about 45 miles south of Duluth, exploded. Hedberg, after setting the cap, went back to inspect It. believ. ing It to be "dead, and received the full charge of the explosion in the face and body, Callahan. Mellen hunters, hung the cars cass from tree and then left to ar. range for transporting It home. On their return they discovered that *he carcass had been stolen. On nearby bush the thief had tied the license tag. Fire Destroys House Le Roy. Minn.-Fire today destroyed the house and furnishings of Carl Schillings, damage being estimated at $2,000. Mr. Schillings formerly lived at Faribault. Two Boy Sleighriders Killed Ottumwa, Iowa- George Overturf. 13 years old and Eugene Brunk, 12, were killed here when their sled collided with an automobile. Legion Will Honor Student Ladysmith, The American Lepost here will make an award to gion the best all around boy student of Lady Slain Deer Stolen smith high school for the present school Mellen. Wis.-After killing large year Standings in studies, athletics and buck deer, Mose Peuning and Patrick all other school activities will be consid- cred. It is the plan of the post to make the award annually Deer Hunters Pay Fines Rhinelander, Frank Erlitz, treasurer of the Onelda County Fish and Game Association, and Gilbert Alvord. both of this city, as tempted to sell the carcasses of three deer, it cost them $50 each, and the deer were confiscated. They had attempted to sell the deer to Andrew Sampson of Stoughton, a conservation warden. Iowa Journalism Head Resigns instructor in the department of journal Ism at Iowa State College the last seven years, will become head of the department February when Professor Fred W. Beckman will leave to become managing editor of the Farmers Wife in St. Paul, it was officially announced here. Professor Converse was employed by the Milwaukee Journal before coming to Iowa State College.
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Article Text
Receiver to Open New InstituRedwood Falls Some Time tion in Early in May. Ewart, receiver of the two Banks and also other banks, bank in Redwood starting new and to have the Falls, Minn., expects institution for business new open in May. Mr. Ewart sometime early receiver of bank there, and also the fine opening for recognizing new bank and being asked by citizens applied for charter to start one, and successful in obtaining is other bank there, There only one it town of 3,000 in good and The bank will be called territory. State Bank and Trust the Citizens Company. receiver of the two Besides being banks and the at Redwood Wells Ewart also was receiver Falls, Mr. National Bank of Minthe First Lake the First National nesota and Bank of Granada. The been closed. of the last two Lake paid out 86 cent Minnesota Granada bank 100 per cent. and the his work receiver of In addition to named, Mr. Ewart acted the banks examiner of insolvent special tional banks of Minnesota. Mr. Ewart's resignation here took effect April His family will remain out. The receiver until school banks is Ferdinand of the Wells at is the Ringoen, who present ceiver of the First National Bank of of which trust he James, Minn., connection with the will continue in trusts