9910. Farmers State Bank (Barber, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 10, 1926
Location
Barber, Montana (46.313, -109.385)

Metadata

Model
gpt-5-mini
Short Digest
af87a462b39e78c8

Response Measures

None

Description

Articles from April–May 1926 describe the Farmers State Bank of Barber being in receivership with the receiver authorized to sell remaining assets and the receivership to be closed after sales. No article describes a depositor run prior to suspension; the bank was declared insolvent and placed in receivership (closure). Later (Oct 1926) litigation concerning the insolvency and stockholder liability is reported.

Events (3)
1. April 10, 1926 Suspension
Cause
Government Action
Cause Details
Bank declared insolvent and placed in receivership; receiver petitioning court to authorize sale of remaining assets.
Newspaper Excerpt
Receiver Asks Court To Authorize Sales Of Assets ... the Farmers State bank of Barber, will be asked to show cause why the remaining assets of the two banks should not be at public auction. The hearing set on the petition of the receiver.
Source
newspapers
2. May 6, 1926 Other
Newspaper Excerpt
Mr. Wilkinson has announced that the sales will be held on Thursday, May 6. Notes aggregating about $84,000, equities in real estate, the bank building at Barber, and numerous bank fixtures will be sold at that time. The receivership will be closed soon after the sales.
Source
newspapers
3. October 1, 1926 Receivership
Newspaper Excerpt
Glenn R. Corrington, for the use and benefit of all the creditors of the Farmers State Bank of Barber, Montana, Plaintiff and Appellant ... Appeal from District Court ... sustaining demurrer to the complaint ... REVERSED. Opinion of the Court ...
Source
newspapers

Newspaper Articles (3)
1. April 10, 1926 The Billings Gazette Billings, MT
Article from The Billings Gazette, April 10, 1926

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Article Text

Receiver Asks Court To Authorize Sales Of Assets of Banks ing will be held here, April 12, when Sam Wilkinson of the Farm- Regular Sunday Dinners ers Merchants State bank of Rye- Noon Luncheons gate and the Farmers State bank of Evening Dinners Barber, will be asked to show cause why the remaining assets of the two banks should not be at public auction. The hearing set on the petition of the receiver. Chocolate Croquettes, pound From the Farmers & Merchants State Opera Nut Chocolates, pound bank of Ryegate there would be sold notes totaling $78,490.65 together with Pure Sugar Taffy, pound claims, and equities Cream Nut Fudge, pound estate owned by the bank. the receiver announces. From the Farm-

2. April 23, 1926 The Producers News Plentywood, MT
Article from The Producers News, April 23, 1926

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Article Text

AUTHORIZES RECEIVER TO SELL BANK ASSETS AT PUBLIC AUCTION of Ryegate.-In the absence any protests Judge G. J. Jeffries has signed orders granting Sam Wilkinson, receiver of the Farmers & Merchants State bank of Ryegate and the Farmers State bank of Barber, authority to sell at public auction all of the remaining assets of the two banks now in the process of liquidation. Mr. Wilkinson has announced that the sales will be held on Thursday, May 6. Notes aggregating about $84,000, equities in real estate, the bank building at Barber, and numerous bank fixtures will be sold at that time. The receivership will be closed soon after the sales. *

3. October 1, 1926 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, October 1, 1926

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Article Text

# SUPREME COURT From Cass County Glenn R. Corrington, for the use and benefit of all the creditors of the Farmers State Bank of Barber, Montana, Plaintiff and Appellant, -vs.- H. D. Crosby, et al, Defendants and Respondents. Syllabus: 1. A judgment or order of a District Court in Montana, declaring a banking corporation to be insolvent, and levying an assessment on the stockholders generally, in proceedings against such corporation for the appointment of a receiver, and for winding up its affairs, is conclusive on stockholders in this state, though they were not partice to said action nor served with process therein. 2. A creditor of an insolvent banking corporation, domiciled in Montana, may, on behalf of himself and all other creditors, institute and maintain, in this state, a suit against stockholders resident herein, to recover their added statutory liability without first having his claim reduced to judgment. Appeal from District Court of Cass County, sustaining demurrer to the complaint: Hon. A. T. Cole, Judge. REVERSED. Opinion of the Court by Cooley, District J., sitting in the place of Mr Chief Justice Christianson, disqualified. John G. Pfeffer, Fargo, North Dakota, Attorney for Plaintiffs and Appellant. Lawrence, Murphy & Nilles, Fargo, North Dakota, Attorneys for Defendants and Respondents.