9959. Columbus State Bank (Columbus, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 28, 1932
Location
Columbus, Montana (45.637, -109.252)

Metadata

Model
gpt-5-mini
Short Digest
d772c16d3cbe5a13

Response Measures

None

Description

Articles indicate Columbus State Bank had been closed and placed in the hands of a receiver (George W. Graff) who paid a dividend in Dec 1932. A 1933 Supreme Court decision concerns the bank's liquidation, confirming it remained in receivership/liquidation. No article describes a depositor run; this is a suspension that resulted in permanent closure/liquidation.

Events (3)
1. December 28, 1932 Other
Newspaper Excerpt
First dividend of 5 per cent-approximately $10,000-was paid Columbus State bank depositors Thursday by George W. Graff, receiver...
Source
newspapers
2. December 28, 1932 Receivership
Newspaper Excerpt
First dividend of 5 per cent ... was paid Columbus State bank depositors Thursday by George W. Graff, receiver and former Laurel citizen.
Source
newspapers
3. November 9, 1933 Other
Newspaper Excerpt
In a decision handed down by the supreme court ... included in the liquidation of the Columbus State bank, the court affirmed the decision of the district court ... in favor of the bank superintendent.
Source
newspapers

Newspaper Articles (2)
1. December 28, 1932 Laurel Outlook Laurel, MT
Article from Laurel Outlook, December 28, 1932

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Article Text

George Graff Hands Christmas Gift To Columbus Depositors First dividend of 5 per cent-approximately $10,000-was paid Columbus State bank depositors Thursday by George W. Graff, receiver and former Laurel citizen. The first dividend could have been somewhat larger, the receiver explained, running from 12 to 15 per cent, were it not for application for preference claims still to be considered. The proposed preference claims involve about $10,000 and a reserve of that amount has to be kept intact to meet such claims if they are allowed.

2. November 9, 1933 The Columbus News Columbus, MT
Article from The Columbus News, November 9, 1933

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Article Text

SUPREME COURT OF STATE FINDS FOR BANK RECEIVER In a decision handed down by the supreme court Wednesday in the case of O. T. Kem, plaintiff, against Frank H. Johnson, superintendent of banks, included in the liquidation of the Columbus State bank, the court affirmed the decision of the district court of Stillwater county in favor of the bank superintendent. Kem sought to establish a preferred claim against the bank for $1,283.03 which he had on deposit when it closed The claim was rejected as a preferred claim by the bank superintendent and included in the non-preferred claims. The money due Kem consisted of proceeds from the sale of sheep, and a note made by Warren Rathbun to the bank and bought by Kem. The sheep were sold to meet the note and bid in by the bank for the latter. The court held that the money was not held in trust for Kem.