12287. Peoples State Bank (Grand Forks, ND)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
January 1, 1921*
Location
Grand Forks, North Dakota (47.925, -97.033)

Metadata

Model
gpt-5-mini
Short Digest
cc61e922

Response Measures

None

Description

Articles consistently state Peoples State Bank of Grand Forks 'closed in 1921' and L. R. Baird is receiver in multiple 1926 reports. No article describes a depositor run; the bank appears to have suspended/payments and remained closed with a receiver. Cause attributed to insolvency/bank-specific adverse events (including alleged thefts linked to former clerk) rather than rumor or a temporary run.

Events (3)

1. January 1, 1921* Receivership
Newspaper Excerpt
L. R. Baird, receiver of the Peoples State Bank of Grand Forks
Source
newspapers
2. January 1, 1921* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed in 1921 due to insolvency; subsequent litigation and claims against receiver indicate bank failure (also suits alleging thefts by former clerk).
Newspaper Excerpt
the Peoples State Bank, closed in 1921
Source
newspapers
3. January 30, 1926 Other
Newspaper Excerpt
Great Northern Railway started suit ... against Baird as receiver for the People's State Bank, Grand Forks ... growing out of alleged thefts of A. A. Aumen, former clerk of the railway
Source
newspapers

Newspaper Articles (8)

Article from The Bismarck Tribune, January 30, 1926

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Fargo-The Great Northern Railway started suit in Grand Forks county asking judgments of $52,099.80 against L. E. Baird, receiver for the First Savings Bank, Grand Forks, and $4,944,05 against Baird as receiver for the People's State Bank, Grand Forks, growing out of alleged thefts of A. A. Aumen, former clerk of the railway.


Article from The Bismarck Tribune, March 17, 1926

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GERMANY'S ELECTION TO LEAGUE POSTPONE QUESTION I STATE REPUBLICAN CONVENTION WILL BE HELD AS FIRST SCHEDULED ADJOURNE Grand Forks Bank Close Shave Dive Smashes Blimp's Nose MINOT ROAD TO MOTHER HELD FRAZIER WILL Is Ready to Pay THE ASSE Another Dividend BE IMPROVED FOR MURDER OF NOT BE MADE A A 10 per cent dividend to creditora Excitement Prevailed at Forks, of the dis.r.ct to Peoples be paid State through Bank, John Forks, Grand ValIN MCLEAN CO HER YOUNG SON gates Assembledwas R. RUBBER STAMP The leries Jamme 40 lel.y, per Baird, new cent announced dividend receiver manager makes of here the state today receiver. a Grand banks. total by of L. Work to be Started as Soon as Five-Year-Old Boy Died Sud State Central Committee the Surveys and Plans GERMANS HUMI denly December 14-PoiChairman Declines to Call guaranteed Depositors will paid receive by whose by the their claims state dividend have guaranty been are Finished son Found in Body a 10 cent Off the Meeting ready fund that body. has paid The guaranty per fund dividend from alDetermined Canvass to persons with guaranteed deposits.


Article from The Bismarck Tribune, April 5, 1926

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Validity of Claim to Assets of Bank Is Point at Issue Whetker or not Grand Forks county has a preferred claim to the assets of the Peoples State Bank, closed in 1921, is the point at issue in a case recently filed in the supreme court. L. R. Baird, receiver of state banks, the defendant in the action, appealed the matter to the high court after the Grand Forks county district court had held that the bank really was trustee for funds deposited in it by the county treasurer and that its assets should be used to discharge its trusteeship obligations before anything was paid to other creditors. When closed, the bank, which was not a legally designated depositary for county money, had $9,783.81 in county money. It had given a bond to County Treasurer Allen to secure him against loss but not a regular depositary bond. Dividends paid by the receiver and a rebate of taxes overpaid by the bank reduced the ร‰mount owing to the county to $2,277.89 for which the county was given judgment. Baird contended that by accepting the initial dividend of 20 per cent and the receiver's certificate of indebtedness, the county was estopped from asserting a claim that its deposit was preferred.


Article from The Bismarck Tribune, May 27, 1926

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Albin Anderson vs. Jacob J. Berg, Jrโ‚™ et al. Citizens State bank of Goodrich vs. Fred Walz (two cases). L. R. Baird as receiver of the Farmers and Merchants Equity bank of Jud vs. M. F. Blanco et al. L. R. Baird as receiver of the Farmers Bank of Fessenden vs. A. L. Volkmann et al. G. I. Regnier vs. John Jacobson et al. Fred Prokop vs. O. W. Roberts. August I. Asplund vs. O. W. Boberts. First National bank of Underwood vs. G. R. Thompson. L. R. Baird as receiver of the American Exchange bank of Watford City vs. Anthony Walton et al. Otis School district No. 28 vs. L. A. Crowell and state bonding fund. W. H. Ebeling vs. Marcus Agnew. William Langer and Samuel L. Nuchols vs. Julius Waldenberg and the Kidder County bank. L. R. Baird as receiver of the State Bank of Olmstead vs. H. M. Disher et al. Union Farmers State bank, New Salem, vs. Robert Krutzner. James T. McCulloch vs. RussellMiller Milling company, et al. L. R. Baird as receiver of the Farmers State bank of Greene vs. Elisa M. Rosevold et al. Robert Krutzner and E. W. Anderson vs. Adolph Miller. Rollin Welch vs. James and Ethel Swanick. Farmers State bank of Baldwin vs. Merl White. C. W. Reichert vs. Seymour Arneson. C. W. Reichert vs. John J. Brose. C. W. Reichert vs. C. J. Rue. City National bank of Bismarck vs. Peter Jones. Fred Manson vs. Menoken Farmers Cooperative association, et al. C. W. Reichert vs. Oscar Magnuson. L. R. Baird as receiver of People's State bank of Grand Forks vs. Tom and Mrs. Thos.' Mann. Walfred Asplund vs. C. V. Danielson. The Cable company vs. Alfred Borkhart. State vs. Equity Grain and Mercantile company et al. R. S. Clark vs. Northern Pacific Railway company. State vs. Jas. H. Litt. Mary Kraft vs. Joseph and Edna K. Coghlan. J. G. Spitzer vs. Burleigh County State bank. E. W. Anderson and Robert Krutzner vs. P. N. Spiche. Florence M. Little vs. Ole G. Hagstrom. Albin Hedstrom, sheriff, vs. J. A. and Bertha Worden. Dalton Adding Machine Sales company vs. H. C. Arnold. L. R. Baird as receiver of the State Bank of Hensel vs. L. O. Anderson et al. Fred A. Bobb vs. Jacob Jangula. Heinrich Schatz and ,Christine Schatz vs. Karl Klein. Frank J. V. Kiebert vs. City of Bismarck. L. R. Baird as receiver/ of the Citizens State bank of Bisbee vs. John Anderson et al. State vs. Carl V. Anderson. Federal Intermediate Credit bank of St. Paul vs. Grant Lindsey. L. R. Baird as receiver of the Dunseith State bank vs. M. J. Anderson et al. City of Bismarck vs. Charles B. Whittey et al. F. H. Carpenter Lumber company vs. N. A. Freeberg. J. W. Pauley vs. Adolph Kutchera. Remington Typewriter company vs. Walter McMahon.


Article from The Bismarck Tribune, May 27, 1926

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13 CRIMINAL CASES AND 112 CIVIL CASES ON CALENDAR FOR JUNE TERM OF BURLEIGH COUNTY DISTRICT COURT There are 13 criminal cases and 112 Albin Anderson vs. Jacob J. Berg, civil cases listed on the calendar Jrโ‚™ et al. prepared by Clerk of Court Chas. Citizens State bank of Goodrich Pisher for the June term of district vs. Fred Walz (two cases). court in Burleigh county, which will L. R. Baird as receiver of the open at the court house in Bismarek Farmers and Merchants Equity bank on Tuesday, June 1, with Judge Fred of Jud vs. M. F. Blanco et al. Jansonius on the bench. Only the L. R. Baird as receiver of the setting of the calendar and various Farmers Bank of Fessenden vs. A. L. court matters will receive attention Volkmann et al. the first week, as the petit jurors have not been summoned to appear G. I. Regnier vs. John Jacobson et al. until Monday, June 7. in order that the farmers may have more time in Fred Prokop vs. O. W. Roberts. which to complete their spring work. August I. Asplund vs. O. W. BobOf the 13 criminal cases listed, erts. eight were on the previous calendar First National bank of Underwood and five are new cases. Three are vs. G. R. Thompson. alleged violations of the liquor laws, L. R. Baird as receiver of the two involve charges of operating a American Exchange bank of Watford motor vehicle while intoxicated, two City vs. Anthony Walton et al. of larceny, and one each of malicious mischief, assault and battery, reOtis School district No. 28 vs. L. moval of chattels subject to lien, and A. Crowell and state bonding fund. desertion. Two cases are entered W. H. Ebeling vs. Marcus Agnew. without designation as to their naWilliam Langer and Samuel L. ture. Nuchols vs. Julius Waldenberg and Criminal Cases the Kidder County bank. The criminal cases on the cafendar L. R. Baird as receiver of the are as follows: State Bank of Olmstead vs. H. M. Disher et al. State vs. F. E. Erickson, operating a motor vehicle while intoxicated. Union Farmers State bank, New Salem, vs. Robert Krutzner. State VS. Mrs. J. L. Finstad, engagJames T. McCulloch vs. Russelling in the liquor traffic. Miller Milling company, et al. State vs. Walter Carter, engaging L. R. Baird as receiver of the in the liquor traffic. Farmers State bank of Greene vs. State vs. Elwood Swanson, maliElisa M. Rosevold et al. cious mischief. Robert Krutzner and E. W. AnderState vs. Albert Little and Homer son vs. Adolph Miller. Taylor, larceny. Rollin Welch vs. James and Ethel State vs. L. Gramling, engaging in Swanick. the liquor traffic. Farmers State bank of Baldwin vs. State vs. Fred Hoff and Mrs. Fred Merl White. Hoff, assault and battery. State vs. Matt F. Schmitz, removC. W. Reichert vs. Seymour Arneson. ing chattels subject to lien. C. W. Reichert vs. John J. Brose. State vs. Albert Little, grand larC. W. Reichert vs. C. J. Rue. ceny. City National bank of Bismarck vs. State VS. Walter Millet, driving a Peter Jones. motor vehicle while intoxicated. Fred Janson vs. Menoken Farmers State vs. Gordon Conley, desertion Cooperative association, et al. and failure to support wife and minor child. C. W. Reichert vs. Oscar Magnuson. State vs. Wendlein Boehler. L. R. Baird as receiver of People's State bank of Grand Forks vs. Tom State vs. John Bashara. and Mrs. Thos.' Mann. Civil Cases Walfred Asplund vs. C. V. DanielFifty eight of the civil cases listed son. are from a former calendar, while 54 The Cable company vs. Alfred are new causes. The civil cases listBorkhart. ed include: State vs. Equity Grain and MerJ. A. and Bertha Worden vs. A. L. cantile company et al. Garnes and First State bank of ReR. S. Clark vs. Northern Pacific gran. Railway company. State vs. Jas. H. Litt. F. H. Carpenter Lumber company vs. W. G. Hoerr. Mary Kraft vs. Joseph and Edna K. John R. Kvile vs. E. F. and Alfhild Coghlan. Alfson. J. G. Spitzer vs. Burleigh County John A. Johnson vs. Thomas Hall. State bank. Farmers State bank of Regan vs. E. W. Anderson and Robert KrutzSevert Anderson and Anna Knutson. ner vs. P. N. Spiche. Henry Schmidt vs. North Dakota Florence M. Little vs. Ole G. HagWorkmen's Compensation Bureau. strom. State vs Bismarek Bank and Bank Albin. Hedstrom, sheriff, vs. J. A. of North Dakota. and Bertha Worden. State vs. Fred Bobb. Dalton Adding Machine Sales comPhillip Hemmerick vs. Farmers pany vs. H. C. Arnold. Elevator & Mercantile company. L. R. Baird as receiver of the Karem Husom vs. North Dakota State Bank of Hensel vs. L. O. AnWorkmen's Compensation bureau. derson et al. Carl Beyer vs. Stella Beyer. Fred A. Bobb vs. Jacob Jangula. L. R. Baird, receiver of Security Heinrich Schatz and Christine Bank of Leeds vs. E. B. Page and Schatz vs. Karl Klein. Henry Henrictta. Frank J. V. Kiebert vs. City of L. R. Baird as-receiver of the McBismarck. Kenzie County bank of Watford City L. R. Baird as receiver/o the Citivs. O. L. Cassady, et al. zens State bank of Bisbee vs. John H. M. Ward vs. Mandan Mercantile Anderson et al. company. State vs. Carl V. Anderson. L. R. Baird as receiver of the CitiFederal Intermediate Credit bank zens State bank of Hazen, VS E. M. of St. Paul vs. Grant Lindsey. Serr. L. R. Baird as receiver of the DunD. R. Baird as receiver of the First seith State bank vs. M. J. Anderson State bank of Nome vs. Carl P. et al. Miller. City of Bismarck vs. Charles B. L. R. Baird as receiver of the First Whittey et al. State bank of Fillmore vs. J. G: F. H. Carpenter Lumber company McClintock et al. vs. N. A. Freeberg. L. R. Baird as receiver of the Dazey J. W. Pauley vs. Adolph Kutchera. State bank of Dazey vs. E. B. JacobRemington Typewriter company vs. Walter MeMahon. son et al.


Article from The Bismarck Tribune, June 23, 1926

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Forks County Court Decision Affirmed The supreme court today affirmed the action of the Grand Forks county district court in the case as Grand Forks county vs. L. R. Baird as receiver for the Peoples State Bank of Grand Forks. The record shows that the county treasurer placed money in the bank which was not qualified to act as a depositary of public money. In that event, the court held, the hank held the money in trust for the depositor and the ordinary relation of a creditor and debtor did not exist. The court also held that the plaintiff was not precluded from asserting its right under the trust by reason of having credited the bank after its failure with certain taxes which had been illegally exacted and by reason of having accepted and credited a dividend along with general creditors.


Article from The Bismarck Tribune, June 24, 1926

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SUPREME COURT From Grand Forks County Grand Forks county, a municipal corporation, plaintiff and respondent vs. L. R. Baird, as receiver of the Peoples State Bank of Grand Forks, North Dakota, defendant and appellant. Syllabus: (1) In an action by a county, against the receiver of an insolvent bank, to impress a trust upon its cash assets to the extent of unauthorized deposits made by the county treasurer during a time when the bank was not qualified to act as a legal depositary, where the evidence established the amount of the cash assets at the time of the closing of the bank, it will be presumed, in the absence of evidence to the contrary, that the cash assets had not previously been lower than at the time of the closing. and it is incumbent on the defendant to offer evidence to the contrary. (2) Where public moneys are deposited by an officer in a bank not qualified to act as a public depositary, the relation of debtor and creditor does not come into existence, but the bank holds such moneys in trust for the depositor. (3) The cestui que trust may, in circumstances shown in the opinion, assert its right against the cash assets available at any given time to the extent of the minlmum on hand between the origin of the trust relation and the time such right is asserted. (4) It is held, for reasons stated in the opinion, that the plaintiff is not precluded from asserting its right as cestui que trust by reason of having credited the bank, after failure, with certain taxes which had been illegally exacted and by reason of having accepted and credited a dividend along with the general creditors. Appeal from the District Court of Grand Forks county, Hon. Chas. M. Cooley, Judge. Affirmed. Opinion of the court by Birdsell, J. Zuger & Tollotson, Bismarck, North Dakota, attorneys for appellant. J. B. Wineman, state's attorney, and McIntyre, Burtness & Robbins, Grand Forks, N. D., attorneys for respond-


Article from The Bismarck Tribune, December 2, 1926

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Rellin Welch vs. James Swanick and Ethel Swanick. Farmers State bank of Baldwin vs. MerlyWhite. COURT L. R. Baird, receiver of Peoples State bank of Grand Forks, vs. Tom Bowen by Mann and Mrs. Tom Mann. in 1931. itey, State for E. C. Ruble vs. Equity at charge Grain & Mercantile company, and it Since Northern Trust company. to a in State ex rel W., E. McCurdy vs. was transJas. H. Litt. with the Mary Kraft vs. Joseph Coghlan and S. Nuessle Edna K. Coghian. to accept J. G. Spitser vs. Burleigh County stipulation State Bank. Florence M. Little vs. Ole G. HagCounty strom. Burleigh L. R. Baird, receiver State Bank of terms, veral Henzel, vs. L. O. Anderson, P. J. to returned Farr, Minnie Farr. et al. this of year Fred A. Bobb VS. Jacob Jangula. acated Judge Heinrich Schats and Christine the case Schatz vs. Karl Klein. for county Federal Intermediate Credit Bank Judge Coffey of St. Paul vs. Grand Lindsey. and hear L. R. Baird, receiver of Dunseith seen. State bank, vs. M. J. Anderson, G. R. nine cases, Conoby, P. M. Conoby, et al. the baland Remington Typewriter company vs. the DecemWalter McMahon. of majority City National Bank of Bismarck enfor are vs. W. S. Malard. although First National Bank of Wilton vs. driving Farmers Union Elevator & Mercandeoxicated, tile company, V. L. Anderson, J. M. slander, Thompson, J. T. Hilsdorf, Albin having Hedstrem, J. E. Ecklund. threatening Catherine McDonald vs. John A. McDonald. number L. R. Baird, receiver of Security stinued from State Bank of Karlsruhe, vs. Frank the balance Boechler, John Bossert, et al. Harry Wetzel vs. Martin Tollefcalendar son. Maggie Ensz vs. Peter Ensz, Jr. State vs. Northern Packing comoperating pany. ntoxicated. Sheridan County State Bank of enFinstad, McClusky vs. J. C. Tees. Fred Grady vs. Everett Porter. L. R. Baird, receiver of Farmers engaging Bank of Bergen, vs. Martin Asplund and Emma Vibeto. maliNils Lovin vs. A. M. Brandt. M. M. Ruder vs. 0. C. Ellington and Homer and Mrs. O. C. Ellingson. Lola Markley vs. First Guaranty in engaging Bank. Charles B. Rosen and Isham Hall removvs. John Hare. Elizabeth H. Thompson vs. R. Jolargrand seph Fairchild. C. A. Finch Lumber company vs. a driving J. A. Raswick. oxicated. Mrs. Margarette Lattimorelle vs. Harry Schonert. Maryland Casualty company vs. C. robbery. C. Hibbs. threatenFred Nelson vs. Joseph McClusky. Chas. J. Fisk vs. Interstate Transb driving portation company. oxicated. J. W. Burch vs. E. Slovrap and E. engagA. Slovrap. Sam Skrupnuk vs. E. G. Patterson. engaging New Civil/Cages L. R. Baird, receiver of Bismarck barMurphy, Bank, vs. E. T. Burke. L. R. Baird, receiver of Farmers engaging State bank of Grenora, vs. E. N. Fuller, A. C. Scott, et al. slander of First National Bank of Washburn vs. Baldwin school district No. 29 in in engaging Burleigh county. Henry Verthein vs. Russell Bryan. desertion Eliza Dixon vs. Burleigh county. and wife First National Bank of Bismarck vs. Jacob Siirtola, Kustaa Lehto and engagAnton W. Lepisto. Geo. Payseno VE. Hudson Insurkeeping ance company. nuisance. Burdella B. Helgeson vs. August in engaging Westerman. Jacob Spitzer vs. George E. Beatty. assault and Wojciech Partyka and Stanley Moisa vs. George E. Beatty. in engaging D. J. Minogue vs. Frank L. Hubbard. threatenA. M. Thune vs. H. E. Wildfang. Valentine Steiner vs. Paul Willmaliciousman. Roy George vs. Lizzie George. having L. R. Baird, receiver of Merchants State Bank of Werner, vs. L. C. deserhis Hulett, Glen Hulett and D. A. Huwife lett. J. H. Schriver vs. L. C. Hulett, larceny. Glen Hulett and D. A. Hulett. vs. Robert Herman Laskin vs. Todd Land comtraffic ordipany and C. B. Little. E. C. Ruble vs. A. H. Meland. working Edith Spitzer vs. C. W. Spitzer. a week days L. R. Baird, receiver of Hansboro a day. State bank vs. Towner County Land John Giese, and Loan company, Charles E. Blackorby, et al. Ira Taylor, Company A. vs. Edmond A. Hughes, mureffrey, et al. Vivian Finlayson VS. H. M. Bryan, tinued et al. Worden Cammack Piano company vs. P. W. State Bank Chubb. Anna J. Freed vs. Grand Lodge ะ›. company O.-U. W. W. W. Kimball company vs. Zakkie Hall. Thomas Asar and P. W. Chubb. vs. Regan Yellow Cab company vs. CorwinKnutson. Churchill Motors, Inc. Dakota P. W. *Chubb vs. Cammack Piano Bureau. company, et al. Driscoll Consolidated school distriet No. 36 vs. Farmers & MerFarmers chants State Bank of Driscoll, et al. company. North Ethel Westbrook vs. Henry C. Dakota Westbrook. Bureau. L. J. Wehe vs. C. W. Snyder, et al. Beyer. of Rese Siegel va. Insurance company Security of North America. and Page John E. Karpen vs. Albert Beck. Mercantile George Christo vs. W. A. Kern. F. H. Carpenter Lumber company of vs. A. Bougas and D. Bougas. Citizens M. E. L. R. Baird, receiver of Farmers Serr. First of Bank of Garrison, vs. John J. Behles,