12362. Karnak State Bank (Karnak, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 12, 1929
Location
Karnak, North Dakota (47.281, -98.064)

Metadata

Model
gpt-5-mini
Short Digest
2e076d61

Response Measures

None

Description

Newspapers report the Karnak State Bank as a closed state bank under the state bank receiver and paying dividends to depositors via the receiver's office. There is no mention of a depositor run; the bank is in receivership and closed.

Events (2)
1. January 12, 1929 Receivership
Newspaper Excerpt
Payment of four dividends to depositors of closed banks was announced today by the state receiver of closed banks here. ... and a 10 per cent dividend to depositors of the Karnak State bank, making a total of 45 per cent.
Source
newspapers
2. January 12, 1929 Suspension
Cause
Government Action
Cause Details
Closed by the state bank receiver; receiver announced dividends to depositors.
Newspaper Excerpt
a 10 per cent dividend to depositors of the Karnak State bank, making a total of 45 per cent.
Source
newspapers

Newspaper Articles (2)
1. January 12, 1929 Morning Pioneer Mandan, ND
Article from Morning Pioneer, January 12, 1929

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Article Text

DIVIDENDS FOR OF FOUR N. D. BANKS Bismarck, Jan. Payment four dividends to deposiof closed state banks was announced today by the state bank receiver closed banks here. All be paid through office W. Conroy, district manager for the receiver Devils The dividends 10 per cent depositors the State Bank, the Farmers State Bank Mapes, the Farmers State Bank of Emerado, and the Karnak State Bank.

2. January 12, 1929 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, January 12, 1929

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Article Text

FOUR CLOSED BANKS PAYING DEPOSITORS I Payment of four dividends to depositors of closed banks was announced today by the state receiver of closed banks here. All will be paid through the office of C. W. Conroy, district manager for the receiver at Devils Lake. The dividends are: Ten per cent to depositors of the Newville State bank; a 10 per cent dividend to depositors of the Farmers State Bank of Napes, making the total on this bank 20 per cent; a 10 per cent dividend to depositors of the Farmers State Bank of Emerado, making a total of 20 per cent and a 10 per cent dividend to depositors of the Karnak State bank, making a total of 45 per cent.