Bankers Joint Stock Land Bank (Milwaukee, WI)

Episode Information

Episode UID
12008171531
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
1200817 routing
Routing Number
12-0081
Start Date
July 1, 1927
Location
Milwaukee, Wisconsin (43.039, -87.906)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9dc859333dfb69c3

Response Measures

None

Description

Receiver appointed after failure to pay interest; bank remained in receivership and assets ordered sold.

Events (7)
1. July 1, 1927 Receivership
Newspaper Excerpt
appointment that farm loan commissioner, Eugene Meyer had appointed Howard Greene, Milwaukee, receiver of the bank
Source
newspapers
2. July 1, 1927 Suspension
Cause
Government Action
Cause Details
Farm Loan Commissioner appointed a receiver after the bank failed to pay interest on part of its outstanding bond issue.
Newspaper Excerpt
Farm Loan Commissioner Eugene Meyer today appointed Howard Greene of Milwaukee as receiver for the Bankers Joint Stock Land Bank of Milwaukee because of the bank's failure to pay interest on part of its outstanding bond issue
Source
newspapers
3. July 5, 1928 Other
Newspaper Excerpt
Howard Greene, Receiver of The Bankers Joint Stock Land Bank of Milwaukee, Wisconsin, Plaintiff, vs. ... SUMMONS ... Dated this 5th day of July, 1928.
Source
newspapers
4. November 4, 1929 Other
Newspaper Excerpt
Supreme court decided ... controversy arose in Milwaukee when Wheeler, holder of shares of the Bankers Joint Stock Land bank, was sued by Howard Greene, receiver of the bank.
Source
newspapers
5. December 23, 1930 Other
Newspaper Excerpt
Redemption of $13,405,000 worth Bankers' Joint Stock Land bank ... the bond protective committee ... has agreed to liquidate the Milwaukee bank.
Source
newspapers
6. February 25, 1931 Other
Newspaper Excerpt
The receiver for the defunct Bankers Joint Stock Land bank of Milwaukee today had new all-cash offer for the assets of the concern ... The bank went into receivership about three years ago.
Source
newspapers
7. July 29, 1932 Other
Newspaper Excerpt
Notice ... ordering a sale of assets of the insolvent mortgage bank to expedite liquidation. The sale will take place July 29 in Milwaukee.
Source
newspapers

Newspaper Articles (10)
1. July 1, 1927 Chronicle Tribune Marion, IN
Article from Chronicle Tribune, July 1, 1927

Click image to open full size in new tab

Article Text

CIRCUIT COURT TERM IS ENDED term of the circuit April court ended today for the summer vacation period. The past term beCourt will resume April September 5 to be in session until November 12. Among the cases to come up for trial the session that Dorthea and Arthur charged with the murder of Clifford of Fairmount ADMINISTRATOR NAMED The Grant Trust Savings named administrator estate of Henry A. Hanley who died pland June 28, 1927. The state valued at $8,000 per sonal property and $700 real estate Lewis Hanley of Tipton, son. and daughter, Cora Overstreet, of In dianapolis, are named as heirs. LAND BANK RECEIVER the Bankers Joint Stock Land Bank of Milwaukee to pay interest July on part its outstanding bond issues was followed today by the announcement that farm loan commissioner, Eugene Meyer had appointed Howard Greene. Milwaukee, receiver of the bank

2. July 1, 1927 Wisconsin State Journal Madison, WI
Article from Wisconsin State Journal, July 1, 1927

Click image to open full size in new tab

Article Text

Appoint Milwaukee Man Stock Land Bank Receiver WASHINGTON (LP) Farm Loan Commissioner Eugene Meyer today appointed Howard Greene of Milwaukee as receiver for the Bankers Joint Stock Land Bank of Milwaukee because of the bank's failure to pay interest on part of its outstanding bond issue

3. August 1, 1928 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, August 1, 1928

Click image to open full size in new tab

Article Text

July 25 to Aug. 8 STATE OF MINNESOTA, COUNTY OF REDWOOD DISTRICT COURT, NINTH JUDICIAL DISTRICT. Howard Greene, Receiver of The Bankers Joint Stock Land Bank of Milwaukee, Wisconsin, Plaintiff, vs. Alexander G. Forbes, Jean M. Forbes, Douglas R. Lawrence, Morton Mortensen, H. HanDefendants. gaard, SUMMONS THE STATE OF MINNESOTA TO THE ABOVE NAMED DEFENDANTS: You are hereby summoned and required to answer the complaint of the plaintiff in the above entitled action, which complaint has been filed in the office of the Clerk of said District Court, in Redwood Falls, County of Redwood, in said State of Minnesota, and to serve a copy of your answer to said complaint on the subscribers, at their office, in the City of Minneapolis, in the said County of Hennepin, within twenty (20) days after service of this summons upon you, exclusive of the day of such service; and if you fail to answer the said complaint within the time aforesaid, the plaintiff in this action will apply to the Court for the relief demanded in the complaint, together with the costs and disbursements of this action. Dated this 5th day of July, 1928. COBB, HOKE, BENSON, KRAUSE & FAEGRE, Attorneys for Plaintiff, 300 Security Building, Minneapolis, Minnesota. 3-3ts

4. August 1, 1928 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, August 1, 1928

Click image to open full size in new tab

Article Text

July 18, 25, Aug. 1 STATE OF MINNESOTA, COUNTY OF REDWOOD. DISTRICT COURT, NINTH JUDI- CIAL DISTRICT. Howard Greene, Receiver of The Bankers Joint Stock Land Bank of Milwaukee, Wis., -Plaintiff, -VS.- A. H. Dorn, Helena M. Dorn, E. W. Flaig, Administrator of Estate of Christopher W. Whel- an, Blanche E. Dyste, N. M. Dyste, her husband, Louis Whel- an, Inga Whelan, his wife, Lloyd Whelan, John Koch, -Defendants.

5. November 4, 1929 The Courier Waterloo, IA
Article from The Courier, November 4, 1929

Click image to open full size in new tab

Article Text

Holds Land Bank Receivers Can't Sue Washington, D. Nov The supreme decided today the federal farm loan board and receivfailed joint stock land banks without levy such banks maintain for the liability The court held the board and courts set rights let the courts should protect the rights. The arose Milwaukee when Wheeler, holder shares stock the Bankers Joint Stock Land bank. was sued by Howard Greene receiver of the bank. $5,000

6. November 5, 1929 The Ponca City News Ponca City, OK
Article from The Ponca City News, November 5, 1929

Click image to open full size in new tab

Article Text

LAND BANK RECEIVERS CHECKED AS TO SUITS Nov. supreme court decided today the federal farm loan board and receivers of failed joint stock land banks are without authority to levy against stockholders of such banks and to maintain suits for the amount of their personal The court held the board and receivers must proceed to the courts set up their rights and let the courts decide what should be done to protect the government's rights. The controve arose in Milwaukee, Wis., when J. Wheeler, holder of 50 shares of stock in the Bankers Joint Stock Land bank was sued by Howard reene, receiver of the bank, for $5,000. Wheeler took the position the creditors of the failed land bank only had the right maintain suits against the stockholders to enforce their liability.

7. November 28, 1929 The Spokesman-Review Spokane, WA
Article from The Spokesman-Review, November 28, 1929

Click image to open full size in new tab

Article Text

URGE HIGH COURT CHANGE ITS MIND Receivers of Joint Stock Land Banks Want Right to Enforce Stockholders' Liability. WASHINGTON, Nov. 26. ceivers of joint stock land banks at Kansas City and Cincinnati asked the supreme court today to reconsider its decision creditors, and not receivers for the had the right the liabilities stockholders of The decision, handed down vember case from waukee, where Wheeler, stock. holder in the failed Bankers' Joint Stock Land bank, sued by the succeeded his that the only could suits for stockliability. The bank appealed for rehearing by the highest court, and the Ohio and Missouri bank receivers filed briefs in support today. The bondholders' protective committee, representing holders of bonds issued the failed Kansas City bank, similar motion. The that if the power loan board require should be limited by inability to enforce its the bonds issued by federal land banks and joint stock banks would cease to be an attractive investment, and serious injury the entire system might follow The briefs stressed interest had protecting the bonds, and said the financial structure such magnitude impose grave responsibilities on the The bondholders committee, $28,000,000 the 500 in bonds issued by the failed institution, said the had been purchased the belief the event of the loan board would able to enforce the shareholders' liability for benefit of the bondholders.

8. December 24, 1930 Omaha World-Herald Omaha, NE
Article from Omaha World-Herald, December 24, 1930

Click image to open full size in new tab

Article Text

Promise Liquidation for Milwaukee Bank Milwaukee, Wis., Dec. 23 Redemption of $13,bonds in the 405,000 worth Bankers' Joint Stock Land bank of which failed was virtually today ago, the the bondprotective that Stewart San Francisco, A. number of Pacific bank corporations, has coast land the Milwaukee agreed to liquidate bank.

9. February 25, 1931 Kenosha News Kenosha, WI

Article Text

Offer Cash for Assets of Bank Receiver of Defunct Institution Receives New All-Cash Bid in Revised Offer Milwaukee-(P)-The receiver for the defunct Bankers Joint Stock Land bank of Milwaukee today had new all-cash offer for the assets of the concern from the B. C. Ziegler company, West Bend. The Ziegler firm, with the Woods Brothers, Lincoln, Neb., and F. W. Murphy, Wheaton, Minn., revised their prior proposal to buy the assets and now offer $3,300,000 cash to be paid the receiver at any time he is willing to turn over the assets to the purchasers after approval from the federal farm board. The offer is made for all assets, not including cash and U. S. securities or money collected as stockholders liability. The previous offer proposed either 10-year extended payment of $3,200,000 with interest or a $2,900,000 cash payment less expenses of the receiver. The bank went into receivership about three years ago.

10. July 1, 1932 Kenosha News Kenosha, WI

Article Text

Order Sale of Bank's Assets Receiver for Bankers' Joint Stock Land Bank of Milwaukee Gets Sale Order Milwaukee, Wis.—(AP)—Notice was received Thursday by Howard Greene, farm board receiver for the Bankers' Joint Stock Land bank of Milwaukee, ordering a sale of assets of the insolvent mortgage bank to expedite liquidation. The sale will take place July 29 in Milwaukee. The sale was ordered after the farm board had deliberated the step more than five years. There were $15,771,000 of so-called "instrumentalities of the United States government" outstanding when the bank failed. Under terms of the sale 15.1 is the lowest price the government board will accept from a bidder.