9985. First National Bank (Denton, MT)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
10819
Charter Number
10819
Start Date
April 25, 1929
Location
Denton, Montana (47.320, -109.947)

Metadata

Model
gpt-5-mini
Short Digest
e703afaa55728943

Response Measures

None

Receivership Details

Depositor recovery rate
93.1%
Date receivership started
1929-03-05
Date receivership terminated
1931-10-28
OCC cause of failure
Governance
Share of assets assessed as good
33.3%
Share of assets assessed as doubtful
54.2%
Share of assets assessed as worthless
12.5%

Description

The articles describe the First National Bank of Denton being in receivership, sale of its assets, and payment of dividends to depositors. There is no mention of a depositor run; the bank failed and a receiver (J. R. Miller) handled closure and asset disposition. A successor bank is being organized, but the original First National remained closed under receivership.

Events (5)

1. January 27, 1916 Chartered
Source
historical_nic
2. March 5, 1929 Receivership
Source
historical_nic
3. April 25, 1929 Suspension
Cause
Government Action
Cause Details
Bank placed in receivership (receiver J. R. Miller) and closed; comptroller involved in approving sale/organization of successor bank.
Newspaper Excerpt
Receiver Gives Outline of Organization; May Open in 50 Days Special to The Tribune. April Miller of the First National bank Denton talk before ... the offer approved the comptroller the new bank should in existence in 50
Source
newspapers
4. June 23, 1929 Other
Newspaper Excerpt
J. R. Miller receiver of the First National bank of Denton, has filed in the district court a petition for authorization to sell the assets of the bank in his hands. amounting to $21,500, to A. C. Edwards, at par, plus accrued interest. The bid ... has been approved by the comptroller of the currency ... .
Source
newspapers
5. July 25, 1929 Receivership
Newspaper Excerpt
Seventy Per Cent Dividend for Depositors Failed Bank Receiver Miller Authorizes Statement That Within About Two Weeks First Dividend to Depositors in Failed First National Bank of Denton, and Amounting to About $37,000.00 Will Be Paid ... A 70 per cent dividend! ... given out officially here last Tuesday afternoon by J. R. Miller, receiver.
Source
newspapers

Newspaper Articles (5)

Article from Great Falls Tribune, April 25, 1929

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Article Text

Lewistown News Club Denton at Plans Bank a Receiver Gives Outline of Organization; May Open in 50 Days Special to The Tribune. April Miller of the First National bank Denton talk before DenArea says Denton bid for the old bank made, 50 percent to immediately acceptance percent more short time. the offer approved the comptroller the new bank should in existence in 50 The Denton Area club has elected officers the coming year Andrew, Clark Cole and the Plummer, vice presidents; John Duncan. secretary: McPhlod. treasurer: Floyd Jensen and Roy Gilman, directors.


Article from Lewistown Daily News, June 23, 1929

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Article Text

PAR OFFERED UPON ASSETS DENTON BANK RECEIVER MILLER PETITIONS FOR AUTHORITY TO ACCEPT BID OF "A. c. EDWARDS. COURT NOTES. J. R. Miller receiver of the First National bank of Denton, has filed in the district court a petition for authorization to sell the assets of the bank in his hands. amounting to $21,500, to A. C. Edwards, at par, plus accrued interest. The bid of Mr. Edwards, it is set out, has been approved by the comptroller of the currency and upon similar action by the court the matter will be speedily closed up. WARREN ASSIGNMENT. In the assignment of Eugene L. Warren of the Popular restaurant. the bond of the receiver has been fixed at $4,000, this being the stated value of the assets, while the schedule of the liabilities foots up $3,534.63. NEW SUITS. The State Building and Loan association has brought suit against E. V. Kottas to recover $2,715 Belden & DeKalb for the plaintiff. The Central Bank and Trust company has brought an action against F. Toomey to recover 1,043.93. Belden & DeKalb for the plaintiff. Carrie L. Strickler has brought suit against the estate of Nelson O'Learn to recover $1,235. COX ESTATE. In the estate of Samuel Cox, the petition of Perry Cox for appoint ment as administrator has been set for hearing on July 6. OVER SHOTGUN. Eleanor Stack of Gilt Edge was arrested yesterday on charge of taking a shotgun belonging to G. W. Smith. Justice Edward Martin released her on her own recognizance.


Article from The Denton Recorder, July 25, 1929

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Article Text

Seventy Per Cent Dividend for Depositors Failed Bank Receiver Miller Authorizes Statement That Within About Two Weeks First Dividend to Depositors in Failed First National Bank of Denton, and Amounting to About $37,000.00 Will Be Paid in Denton, at The Farmers State Bank---Another Dividend Later. A 70 per cent dividend! A total cash payment of $37,000 in round numbers! This is the vastly pleasing news for depositors in the failed First National Bank of Denton, given out officially here last Tuesday afternoon by J. R. Miller, receiver. The checks to depositors have been made out and are in the mails going to Washington. After arrival at the treasury department the checks will be signed by the comptroller of the treasury, and re-mailed to Receiver Miller. Disbursement of the dividend checks will be it will be as much as 25 per cent, and possibly a little more. Thus the forecast of the Recorder, in its news story of the closing of the First National Bank of Denton, that the depositars would receive approx- imately 100 per cent of their deposits, and that a new, stronger and better bank would be set up in Denton, will have been fulfilled. The latter fore- cast is now an accomplished fact, to the great grat- ification and benefit of the farmers and business men of the whole Denton area. It is really a wondersul record that Receiver made at the Farmers' State Bank in Denton. Miller is making in this matter, and one that will Receiver Miller indicated that about two entitle him to the unstinted praise of all concerned. weeks would elapse from the time the checks were mailed from Lewistown Wednesday afternoon be- fore they would be available for disbursement. It is no more than fair, in this connection, to point An additional dividend will be paid out in the not distant future. While the amount cannot be officially stated at this-time, as collections on the out that President A. C. Edwards, of the successor bank, has been an invaluable ally and helper. His attitude throughout has been creditable to the last assets of the failed bank have not been finished, degree. Great credit is also due the Depositor's com- mittee, by whose co-operation and untiring efforts although that work is in active progress. the assets of the bank were disposed of at the However, from such information as has been gathered by the Recorder, the indications are that best possible figure, and who 80 ably assisted in the establishing of the new bank, and sustained a spirit of harmony thru all the dealings.


Article from The Producers News, August 2, 1929

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Article Text

Receiver of Denton Bank Preparing to Pay Heavy Dividends Lewistown, July 29.-Receiver J. R. Miller of the First National bank of Denton has made out checks to the depositors for a 70% dividend. These are now on their way to Washington and will very soon be in the hands of the depositors. An additional dividend will be paid in the near future and it is indicated that this may be as much as 25% and in any event will not be greatly under that figure. In the matter of the receivership of the old Denton State Bank, which failed several years ago, Receiver C. E. Baker has filed a petition for an order to sell all of the assets. Judge J. C. Huntoon will have a hearing upon this on August 24.


Article from Lewistown Daily News, October 20, 1929

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Article Text

CALL HUNTOON SIT IN NOTED CASE BOZEMAN THE RINGLING CUNNINGHAM BIERING SUIT COMES BE FORE LEWISTOWN JUDGE. $250,000 INVOLVED. Judge J. C. Huntoon returned home yesterday from Bozeman where he was called to sit for Judge B. B. Law. He found on reaching Bozeman that instead of hearing some formal matter he had stepped right into famous lawsuit. involving perhaps a quarter of million dollars, this being the RinglingBiering action. The Bozeman Chronicle says of the matter: Sensational charges were brought yesterday by Dan Kelly of Butte, plaintiff's attorney in a suit involving about quarter million dollars, against Franklin D. Tanner, one of the defense attorneys. Judge John C. Huntoon of Lewistown. veteran jurist of Central Montana, heard the arguments and testimony which were on motion of the defense to file supplemental pleadings in their answer to the amended complaint. He is sitting in the case as the result of Judge B. B. Larv's disqualifying himself some time ago. The speech by Kelly was his opening statement in hearing on motion of the defendants in the Richard T. Ringling against M. S. Cunningham and Hans Biering suit. the motion being for permission to file supplementary pleadings featuring the "Helena agreement. Kelly said that the plaintiff intended to prove by witnesses called in this action that the robbery had been staged with the intention, by the defense, of providing an excuse he said, there was considerable doubt as to its existence. He ab- solved Defense Attorneys Choate and Peterson of Bozeman, but inti- MILLER PAYING mated that Tanner had framed the holdup. Among witnesses whom Kelly and M. S. Gunn of Helena, as the plain- TWO DIVIDENDS ner, Mrs. A. M. Sackett and Abc Catler were put on the stand. Others summoned to the hearing TO DEPOSITORS on subpoenaes by the plaintiff were M. S. Cundingham, one of the defendants. and Judge C. C. Stong of Billings, who was with Tanner MONEY GOING TO CREDITORS when be was robbed of the valued paper. Stong was not in the state OF THE OLD WINIFRED NA. at the time the subpoena was issued TIONAL AND MOORE NA and did not appear, statement by him of what he knew of the robTIONAL-LOCAL BANK bery was, however, entered in the testimony, with the consent counsel for both sides. Receiver J. R. Miller, wwho has At the noon recess, tension had four closed banks his care, is become 80 great between Tanner especially busy just now He 18 enand Kelly that the two engaged in gaged in paying 12.3 per cent a physical combat which ceased dividend to the depositors of the only when bystanders separated the old Winifred National and divitwo. dend of 8% per cent to the deposiTanner told. under examination tors of the old First National of by Kelly and Gunn, his version of Moore. the holdup in Billings, saying that These payments will make he had shown the valued document total of 22.3 per cent to the deposito Judge Stong in a Billings hotel tors of the Winifred bank and will lobby after Stong had met him wind up the affairs of that concern. there to take care of some other The payment to the depositors legal of the Moore institution will bring The two men then went for the total for that bank up to 53% walk, he said, and as they walked cent. were accosted by a masked man In addition to these duties, Mr with gun, who commanded them Miller is making checks for to put up their hands. About $20 a dividend of per cent to be paid was taken from the two and the the depositors of the old First Nastickup then snatched Tanner's tional Bank of Fergus County next brief case and told them to "keep month which will. alone, distribute on going." The brief case was Inter about $200,000, nearly all to Forgus found in as yard which joins the county people This will make a alley down which the robber Irad total of 49 per cent for this bank made his escape, but on examinaand it is certain that there will be tion by Tanner at police headanother very small dividend to quarters It was found that the follow. agreement was missing The receiver is given credit for Mrs. Sackett, at whose hotel in having handled the affairs of these Billings Cuaningham had stayed banks, as well as those of the old was called upon to testify to the First National of Denton, whereabouts of Cunningham on the fully. It has called for a lot of field night of the robbery. work, in addition to the labor in Abe Cutler. whom the plaintiff's the office here and the result all attorneys said they suspected of around speaks for isself. being the holdup man, and who is in the employ of Cunningham at OFF FOR TENNESSEE. the Rising Sun ranch, told of his Walter Madox. genial rancher of having gone to Billings and then the Heath section spent Saturday to Hardin, in an effort to take care in the city attending to business of Cunningham, whom he described matters. Mr. Maddox expects to as being "on a toot." He admitted leave Tuesday with a shipment of in his testimony that he had regiscattle for the eastern markets. Afttered at a Hardin hotel under an er making the delivery he will go assumed name but had done that, on to his old home in Granville, he said, to prevent Cunningham Tenn.. and spend several weeks from finding him. after he became visiting with his father, who is now disgusted at the latter's inability to over 84 years of age. keep sober. He was in Billings, he said. on the night of the robbery. but was in his room at the hotel, he said, and had company for about an hour. Cunningham. he said, had come on home to Bozeman, riding the train to Livingston and hiring a car to bring him here. At the conclusion of testimony, the plaintiff's attorneys argued the lack of bearing on the case which the document should have if introduced. Judge Huntoon allowed the plaintiff's attorneys 20 days in which to file a brief and the defense 10 days in which to answer, after which he will, he said, take the motion under visement.