9951. First National Bank (Chester, MT)

View Charter #11105 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11105
Charter Number
11105
Start Date
July 1, 1923*
Location
Chester, Montana (48.511, -110.967)

Metadata

Model
gpt-5-mini
Short Digest
c5f3e6f30dd18479

Response Measures

None

Receivership Details

Depositor recovery rate
1.4%
Date receivership started
1923-07-30
Date receivership terminated
1928-03-31
OCC cause of failure
Losses
Share of assets assessed as good
13.8%
Share of assets assessed as doubtful
41.2%
Share of assets assessed as worthless
45.1%

Description

The articles refer to the First National Bank of Chester, Montana, which suspended/closed in July 1923 and had a receiver (Frank Browne) appointed (receiver named July 30, 1923). Coverage from 1925–1927 documents litigation by the receiver and court actions (e.g., voiding a transfer made shortly before the July 1923 suspension). No article describes a depositor run preceding suspension; evidence points to insolvency/preferential transfers by the bank, leading to suspension and receivership.

Events (4)
1. November 30, 1917 Chartered
Source
historical_nic
2. July 1, 1923* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank officers made transfers of land to a depositor shortly before the bank closed; transfers were annulled by federal court as preferential transfers made in contemplation of bankruptcy, indicating bank insolvency prior to suspension.
Newspaper Excerpt
15 days before the bank closed, its officers transferred land ... recorded after the bank suspended business.
Source
newspapers
3. July 30, 1923 Receivership
Source
historical_nic
4. July 30, 1923 Receivership
Newspaper Excerpt
Frank Browne ... was appointed receiver July 30, 1923.
Source
newspapers

Newspaper Articles (10)
1. March 27, 1925 The Great Falls Leader Great Falls, MT
Article from The Great Falls Leader, March 27, 1925

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BEST CITIZENS OF (Continued from Page Eight.) rassing to send him to jail at this season of the year. "I have known him for six years, declared the attorney in speaking of his client to the court, "and can vouch for him to the court. He is one of the best citizens of that section." Mr. Harris was fined $75. and went out to join the other Fergus county best citizens, according to court records of their attorneys, of the Judith Basin. The jury panel, other than those sitting on the Forester case, excused until 10 o'clock tomorrow morning. In the case against A. W. Wattam and Susie, his wife, charged with having brought aliens into the Unitell States from Canada, the jury late yesterday afternoon returned verdiot of not guilty after being out but a few minutes. Judge Pray suggested that In view of the evidence submitted and the statutes governing such cases that verdict of guilty might well have been expect ed, but that probably sympathy had much to do with the final result The defendants live at Fresno, out of Hare, and last September brought a niece and nephew from Canada to their ranch, ostensibly to visit them, when the niece, 21 and the nephew 19. had not received permission from the Canadian government to come across. P. P. Thompson, government emigration officer at Havre, stated after the a deportation order had been issued and that the two young relatives would be taken from the Wat. tam's and deported to Canada. The girl has no means of support in Canada, being separated from her husband while this side of the line her relatives give her a home and In the case of Frank Brown, recelver of the First National bank of Chester against Mary A. Stonach, Judge Pray handed down decision for plaintiff, ordering that the transfer of 2,686 acres of land in

2. April 3, 1925 The Glasgow Courier Glasgow, MT
Article from The Glasgow Courier, April 3, 1925

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TRANSFER OF 2,686 ACRES ANCOURT Frank Browne, receiver of the First National bank Chester, Mont., last week won an important victory for the creditors of that institution the federal court at Great Falls, when the transfer of 2,686 acres Hill Liberty county land by the First National bank of Chester Mary A. Stonach, short time prior its closing in July, 1923, was dered annulled in decision handed down on Wednescay of week the Great Falls federal court by Judge Charles N. Pray. The order was returned under the federal statute intended void transfers made by national bank after the commission of an act of bankruptcy, in contemplation thereof," with view to giving creditor over another. Following the history of the case, Judge Pray's order relates that July 1923, 15 days before the bank closed, its officers transferred land Mrs. Stonach by warranty deeds that were recorded after the bank suspended business. Prior giving the deeds, the decision continues, the bank owed Mrs. Stonach by certificates of deposit, saving accounts and checking accounts. When the bank closed owed nothing to Mrs. Stonach her daughter, whose account also figured case. Judge Pray held that the act of transferring land to Mrs. Stonach showed an inclination to give her preference creditor of the bank and ordered the deed set aside. The was brought against Mrs. Ston ach by Frank who was appointed receiver July 30, 1923. between Great Falls and Canyon Ferry. As as the Great Falls supply shipped out additional 400,000 will be shipped from the Emigrant hatchery Toston, and Winston with which to stock the from Three Forks down to CanFerry. This will be the largest planting in the Missouri river. One touch of money makes the whole world "skin."

3. July 9, 1925 The Chester Reporter Chester, MT
Article from The Chester Reporter, July 9, 1925

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ALIAS SUMMONS IN THE DISTRICT COURT OF THE DISTRICT OF THE OF MONTANA. IN AND FOR THE COUNTY OF LIBER. A. Whitten Hawley Wymond, Administrator of the Minik, deceased; The First Bank of Chester, Mon Frank Receiver of The First National Bank Chester Montana and The Sheldon Defendants. The State of Montana Sends Greetings Defendants: HEREBY SUMMONED to complaint in this action, which filed in the off the Clerk this copy of which is herewith upon to file your and copy upon the Plain twenty after the service this the day of service; and in case your to appear or an be taken against you by default for the in the That the and object of the to and termine of mortgage on dated May made, and by said Hans Minik as the State as and there by written assignments plaintiff herein; said mortgage recorded in the the County Clerk and Reof Montana o'clock in Book Mortgages, on page record was duly to and transcribed the the of the County lerk and der Liberty County the said defendants above each them. persons any Interest or lien said through or of them, in and Half of Section premises: Range Townshi (33 North, Five East Montana Meridian 320 acres, more less according the Surv situated Hill County Montana, but now lying and being the County Montana with Liberty all the and tenances thereunto appertaining belonging or in anywise Witness my hand and the Seal of this 6th day McKenzie (SEAL) & GEORGE H. GAU, Clerk. 1925. McKenzie, Plaintiff, Great Montana

4. July 17, 1925 The Liberty County Times Chester, MT
Article from The Liberty County Times, July 17, 1925

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BOUNDARY July 1925. Mr. and Mrs. Kisselburg, daughters up rom Great Falls Saturday and children are spending the week Poppler's. Several from this neighborhood took in the dance at Cicon's Saturday night. Mr. Liberk, from near Pin Horn, Poppler's dealing for cattle, last week. and Mrs. Wilson, Mrs. Anius Johnson, Olva Haugen and Bromie Fox were Sunday callers Wilson's Mr. and Mrs. Hayes Starks Mr. and Mrs. Plummer children motored Great Falls week. where they purchased six by Holstein heifer calves Mr. and Mrs. Liebeck and children callers Poppler's, Sunday. Ole- Benson and Lake were trying some pigs Saturday. Several people over to the school house the ball between Wheatbelt and and Minneota. Poor Minneota boys, they got beat badly that will be here. But three our players were not there. Mr. and Mrs. Ed Obie and childand Mrs. Ed an children motored to Milk river to pick berries last Sunday. Mrs. Taylor has returned to her home Great Falls. Wicks, Wallace Hunt and Bill Miller motored to Joplin and Monday. Howard Cady motored to Simpson Friday. and Mrs. and Mr. Wilson and Joplin, Tuesday, to take Miller catch east bound train. going back to his home Mannie Marsalle called at Stark's Monday evening. and Mrs. Poppler, Mrs Bracke and Mrs Kisselburg Plummer's Tuesday Green was over at Calin's Tuesday. and Ray Hunt, Earl Beddow and Shirley Christiansen were to up George Adams' Tuesday. Olive McKee started to her home in Scobey. Montana, the first the week. Miss McKee has just finishvery satisfactory term of school Grassy Butte. and Wicks and children were Sunday visitors at the Plummer home Crops and gardens are in need rain. Hazlet was up in this neighbuying last Ben Poppler helped take some tle up to Libeck's, Monday. Board of County sioners in regular session this day o'clock all bers present. delegation from Joplin appeared before the board and requested the grading of the Roosevelt between Joplin and Chetster. The Board assured the delegation that they keep with the road struction program accordance with the financial condition of the road fund. The report of the appraisers appointed by the District Court appraise the Devine buildings and grodun for warehouse urposes presented, read and ordered filed. as ordered that the County, Treasurer be authorized to transfer from the county sinking fund to the road fund the sum and from the gopher fund to the road fund and from the insect pest fund to the classification fund and from the classification fund the road fund At o'cleck m. the Board H. Earl, Chairman. Attest: Shebel Clerk. Chester, Montana, July 1925. The Board of County in regular session this day o'clock all members present. The Board proceeded in examining claims against the county. Mr. Geo. Bourne, president of the Hill County State Bank appeared be fore the Board and requested that the rate of interest deposits in the said Hill County State Bank be reduced from per cent per cent for the reason that said deposits are always secured by negotiable securities and after due consideration of the matter the Board agreed to reduce the interest from cent to 1-2 cent and an agreement was entered into between the Board and the Hill County State Bank to that effect. report of the road foremen for Road Districts Nos. examined, approved and ordered fil- The quarterly reports of the Clerk and Recorder, Clerk of the District Sheriff and County Attorney approved and ordered filed, and also the report of the Treasurer for June was examined, approved and ordered filed. The bond of Enippen, road foreman for road district No. examined, approwed and ordered fil- The quarterly examination of the official bonds the various officers made and the bonds approved. It ordered that the County of Choteau County be employed to make road surveys whereever needed. During the three days' session of the Board the following Claims were approved and an order made directing the clerk to draw warrants the various funds of the county for CONTINGENT FUND of Commissioners County Chester, Montana, July 1925. Strode, The Board of County Commis- Walden Bros., supplies, sioners met regular session this Pond, deputy $40.00 day m., Aileen Stronach, clerk in assesspresent, Earl, chairman, Strode and Klingel, McCabe, expenses. sioners and the clerk, Shebel Rehal. Dr. Price, salary health The minutes of the previous meet. $50.00. ing were read and approved Tribune Print Supply Co., preagreement heretofore made paid express on supplies, Board County ComAinley, hauling gravel, missioners and Sheldon in Co., print. gards to the bonds the said plies, Sheldon and Berglin, securing Effie Pond, clerk in school deposits on the First National Bank erintendent's office, Chester, now was read Geo. Ainley, telephone rent for and and the June, olution was unanimously adopted: Matt Morgan, mileage. RESOLUTION Hay, carpenter work, Chester Montana, July 1925 Ida Rehal, steno. in various officWhereas, the individual members $104.00. constituting the Board of County Rena Fay, clerk in superintendCommissioners Liberty County, Montana, the 6th day Salaries for June, 1925: Alpha E. Fitzpatrick, mileage June, 1925 enter into an agreement Shebel Rehal, county writing with Sheldon. Clarence Langley, Karl Jeppesen, mileage. which said agreement was in 75. Perry Oakley, fect the settlement of Lillian Jeppesen, clerk in Sigurd Amundson, tion then pending in the District sor's office, $23.10. Karl H. Jeppesen, Court of the Eighteenth Judicial George Gau, $150.00. M. Burkhart, service as jailor, District of the State of Montana, Hawley $62.50. and for Hill County, in which John Morgan, $166.67. Edith Stronach, clerk in assessLiberty County was MainMatt Morgan, and the said Sheldon W. Kester, rinting, Earl, per diem and mileage and Barglin were defendets, County Jacob Shafer, janitor, whereby sai plaitiff was seeking Alpha Fitzpatrick, Aileen Stronach, cler] in various recover from said defendants by offices, Paul Moody, $33.50. reason of liability on depository Strode, per diem and mile- William Silberman, janitor, $50, bond for County beposits in the Perry Oakley, mileage, age, county commissioner, First National Bank of Chester, at Shebel Rehal, mileage, A. Klingel, per diem and miletime the said Bank suspended Chester Trading Co., supplies, business. age, county Lockhart, per diem surveyNow, Therefore, We, the unPetty Cash, Cr., refund to petty $15.00. dersigned, being all of the members John W. Hutchison, correcting of the said Board of County CommisR. McCabe, special counsel, exam. papers, $50.50. oners of Liberty, Montana, and such Board do, at this date, and H. (assnd to Liberty County Farmer, printing regular session, hereby ratify, Trading Co) correcting exam. and supplies, prove and confirm all of the terms Hawley Wymond, traveling and conditions set forth in said Ethel Greiner, clerk transcribing greement, and in signification and records, $72.00. E. Albright. meter, confirmation, and our assent to Peter Greiner, viewing buildings, ROAD FUND any and all said terms and Strode, per diem and mileditions, do hereby sign Frank Baker, viewing buildings, this 6th day of July, 1925. ProChas. Swank, car hire road forevided that all monies which Ole Grimstad, viewing buildings, man for May and June, $82.25. may be payed by the Receiver of Gordon De Young, (assnd. to Bank dividend by reason Paul Moody, mileage, Langley dragging roads, the Cirtificate of claim heretofore Bros., stove repairs to George Meisner, road work, $28. issued the Receiver, the Otto Thielman, road work, same shall be credited upon the Ralph R. Russell, tracing maps, mount due the County of Liberty, from the said M. Sheldon Walden Bros., supplies, der written agreement therein Ed Temple, road work, 100 BALLOT 100 ratified. Olson, road work, $52.50. Liberty County, Montana. VOTES William Cash, road work, $3.94. By W. H. Earl, Chairman. Jacob Shafer, driving county Strode, Commissioner. truck, Klingel, Commissoner M. Snippen, road work, $375. Attest: Shebel Rehal, Clerk. for Princess vote this ballot Layton, road supplies, (SEAL) Liberty County the Queen of Montana The remainder of the day Contest be held during the Montana State Fair Septem- Chester Garage, truck, cupied reading correspondence ber 1925. Fred Scott, road work, $112.50. to 10, and taking up routine business. Jacob Shafer, extra help loading 5:00 o'clock the Board $2.50. trucks, adjourned. Fred Scott, road work, $170.50. hairman. Attest: Shebel Rehal, Clerk. Chester, Montana, July Christ Richter, road work, $17. (Continued on page four.)

5. August 7, 1925 The Liberty County Times Chester, MT
Article from The Liberty County Times, August 7, 1925

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No. 2149. SHERIFF'S SALE In the District Court of the Eighteenth Judicial District the State of Montana, in and for the of Liberty County Company, a corporaThe Sheldon tion, Plaintiff. Charles A. Sullivan, Rogers-Templeton Lumber Company, Browne, corporaFrank as Ed Albjerg; Receiver tion, of the First National Bank of Chester, corporation; Samuel Sullivan; The First State George Bank Joplin, corporation, Receiver of The First Stanton, as State Bank of Joplin, First State Bank of Chester, The as Recorporation; John First State Bank ceiver of the Chester, and T. E. McClintock, Defendants. To be sold at Sheriff's Sale on the day of August, o'clock M., the front door the court house the town Chester, the said County of Liberty, the property situated in Liberty County, State of Montana, more particularly described as follows, of section twenhalf (23) township east, Monnorth, range six (6) (35) containing 320 acres tana meridian, according to United more or less, States government survey thereof, with the tenements, and Thereunto belonging. and the reversions, rents, issues and also and all profits thereof, any water rights, water water easements thereunto belonging or in anywise Dated this 16th July, D. 1925.

6. September 15, 1925 The Chester Reporter Chester, MT
Article from The Chester Reporter, September 15, 1925

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ALIAS SUMMONS IN THE DISTRICT COURT OF THE EIGHTEENTH JUDICIAL TRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF LIBERTY SHELDON, Plaintiff, VS. HENRY WOARE, as Administrator the estate of John O. Berglin, Deceased; IDA MAY SHANE; FRANK BROWNE, as Receiver of The First National Bank of Chester, corporation; BIRD SOPHIA BERGLIN, and MARY E. SIMS, Defendants. STATE OF MONTANA TO THE ABOVE NAMED DEFENDANTS AND TO EACH OF THEM: YOU, AND EACH OF YOU, are hereby summoned to answer the com-

7. March 26, 1926 The Liberty County Times Chester, MT
Article from The Liberty County Times, March 26, 1926

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In the District Court of the Eighteenth Judicial District State of Montana in and for the County Liberty. Mary A. Flint. Plaintiff. Glen Shepherd. Lottie Shepherd. his wife: The First National Bank of Chester. Frank Browne. Receiver First National Bank of Chester: Sheldon Brothers Company. corporation: Liberty County, body politic and corporate: CounTreasurer of Liberty County: Defendants. The State of Montana Sends Greetings to the DefendYOU ARE HEREBY SUMMONED to answer complaint in this actfiled in the Clerk of this copy of which served and file your serve copy upon the ney days after the service of this Summons exclusive day of service: and in case your failure appear judgment will be taken against you

8. June 4, 1926 The Liberty County Times Chester, MT
Article from The Liberty County Times, June 4, 1926

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Hawley Wymond Catherine Brown Bowen; Frank Browne, as Receiver of The First National Bank of Chester, a corporation; John H. Devine, as Receiver of The First State Bank of Chester, a corporation; May Brown J. N. Harvey; and The Sheldon Company. a corporation, DefendThe ants. State of Montana sends greetings to the above named defendants and to each of them: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon one of you in each County wherein any of you reside, 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. This action is brought upon a promissory note in the sum of $1000.00 and two interest coupon notes each in the sum of $60.00, and to foreclose a real estate mortgage given to secure the same upon the following described property, towit: The northeast quarter of section 9 township 30 north range 7 east Montána Meridian, containing 160 acres more or less. The complaint asks for attorney's fees and costs of action, that the mortgage be foreclosed. and the land sold, that the proceeds derived therefrom be first applied to the payment of plaintiff's claim. and the balance if any be paid into court for the use and benefit of the defendants as their interests may apFor sheriff's deed to the purchaser. pear. Plaintiff alleges that the defendants Frank Browne as Receiver of The First National Bank of Chester. a corporation. John H. Devine as Receiver of The First State Bank of Chester, a corporation: May Brown: J. H. Harvey: and The Sheldon Company. a cornoration. have or claim to have some interest adverse to plaintiff which asid alleged claims and each and all of them are inferfor. subordinate and subsequent to the claim of the plaintiff herein. Witness my hand and the seal of Court this 30th day of Nov., 1925. GEORGE H. GAU. Clerk. Denuty Clerk. (Court Seal) Fred Gabriel. Malta. Montana. Attorney for Plaintiff.

9. June 25, 1926 The Liberty County Times Chester, MT
Article from The Liberty County Times, June 25, 1926

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ALAIS SUMMONS In the of the Eighteenth Judicial District of the State of Montana, in and for the of Liberty The County National Farmers Bank of Owatonna, a corporation, Plaintiff. Catherine Brown Bowen; Frank Browne, as Receiver of The First National Bank of Chester, corporation; John H. Devine, as Receiver of The First State Bank of Chester, corporation; May Brown J. N. Harvey; and The Sheldon Company. a corporation, DefendThe ants. State of Montana sends greetings to the above named defendants to each of them: and You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, copy of which is served upon one of you in each County wherein any of you reside, and to file your answer and serve 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 gainst you by default for the relief demanded in the complaint. This action is brought upon promissory note in the sum of $1000.00 and two interest coupon notes each in the sum of $60.00, and to foreclose real estate mortgage given secure the same upon the following described property, towit: The northeast quarter of section 9. 30 north range Montana Meridian, containing 160 or acres The more complaint asks for attorney's fees and costs of action, and that the the be foreclosed. mortgage land that the proceeds applied to derived the be first therefrom claim, and of plaintiff's payment the if any be paid into court the use and benefit of the defendants as their interests deed may ap- the sheriff's purchaser. pear. For Plaintiff alleges that the defendants Frank Browne as Receiver of The First National Bank of Chester. corporation. The First H. Receiver of Devine State Bank as Brown: of Chester, H. corpora- Harvey: tion: and The May Sheldon Company to a have corhave or claim some poration. interest adverse alleged to plaintiff claims which and each and asid all of them are infersubordinate and subsequent to the ior. claim of the plaintiff herein. Witness hand and the seal of said Court this 30th day of Nov., 1925. GEORGE H. GAU. Clerk. By Denuty Clerk. Fred (Court C. Seal) Gabriel Malta, Montana. for Plaintiff. Attorney (June 4-11-18-25) corporation, The County Treasurer of Liberty County, Montana, and Otto Fossen, Defendants. To be sold at Sheriff's Sale on the 3rd day of July, A. D., 1926, 9:07 o'clock A. M., at the front door of the courthouse in the town of Chester, in the said County of Liberty, the following property situated in Libery County, State Monana, more particularly described as follows, The to-wit: West Half (W½) of Section Eleven (11) Township Thirty-two (32) North of Range Seven (7) East of the Montana Principal Meridian. Dated this 7th day of June, A. D. 1926. JOHN H. MORGAN, Sheriff. By MATT MORGAN. Under Sheriff. Max P. Kuhr. Plaintiff. Havre, Montana Attorney for (June 11-18-25-July 2)

10. April 14, 1927 The Chester Reporter Chester, MT
Article from The Chester Reporter, April 14, 1927

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ALIAS SUMMONS IN THE DISTRICT COURT DISTRICT OF THE OF AND FOR THE COUNTY OF LIBER The TX National Farmers Bank Plaintiff. of Owatonna. a Charles Kellog: Frank VS. Browne as Receiver of the First National of Chester, corporation, Fred N. Erick Hill County, municipal and the County Treasurer of Liber County, defendTHE ants. STATE OF MONTANA SENDS GREETINGS TO THE ABOVE NAMED DEFENDANTS AND TO EACH OF THEM: you are hereby summoned to answe the in this action which is filed in the office of the Clerk of this Court. a copy of which herewith file you and served your upon and serve copy thereol upon the attorney within wenty days after the service or this exclusive of the day of service and in case of your failure to apbear or answer, judgment will be takin against by default, for the reief demanded in the complaint. This action is brought upon promissory note in the sum of $2000.00 and one intenest in the sum of $120.00 and to real e3tate given to secure The of same. payment land described in said mortgage is follows half Township 30 North range 6 M. M. East The complaint asks for attorneys of action, that the lands be sold and the proceeds therefrom be applied to the payment of plaintiff's if the balance any claim and there be be to the court for the and benefits of the defendants as That their the may claims appear. of the defendants Frank Browne as of the First National Bank corporation, Fred Erickson, Hill County municipal corporation, and the County Treasurer of Liberty County, and of them are inferior and subordinate to the claim of this Plain- Witness my hand and seal of said Court this 17th day July, 1926. GAU. GEORGE H. (Court Seal) Clerk of the DI net Court Fred Gabriel, Montana, Attorney for Plaintiff.