Other: Taken over by State Guarantee Fund commission and operated by personnel of Liberty State Bank.
Description
Newspaper reports (Jan 6 & 11) describe a run precipitated by circulated rumors which was initially quelled by officers. A later report (Jan 13) states the bank closed and was taken over by the State Guarantee Fund commission and operated by men in charge of Liberty State Bank. Sequence: run followed by takeover/closure by state guaranty authority.
Events (3)
1.January 5, 1928Run
Cause
Rumor Or Misinformation
Cause Details
Enemies circulated rumors concerning the bank's condition, precipitating heavy withdrawals the prior forenoon.
Measures
Officers assured depositors they were safe, cited protection by the guaranty fund; officers consulted attorney and prepared suits against rumor-mongers.
Newspaper Excerpt
circulated rumors concerning the condition of the bank which precipitated a run on the bank yesterday forenoon
Source
newspapers
2.January 13, 1928Receivership
Newspaper Excerpt
taken over by the State Guarantee Fund commission and operated by the men in charge of the Liberty State Bank.
Source
newspapers
3.January 13, 1928Suspension
Cause
Government Action
Cause Details
Bank closed and taken over by the State Guarantee Fund commission, operations to be handled by men in charge of the Liberty State Bank.
Newspaper Excerpt
the bank has been closed and has been taken over by the State Guarantee Fund commission
Source
newspapers
Newspaper Articles (3)
1.January 6, 1928The Pender RepublicPender, NE
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Article Text
Phones: -Office 182. Residence 69
Suit to be Filed Today.
It is reported that certain ene. mies of the Thursday State Bank at Thurston, circulated rumors concerning the condition of the bank which precipitated a run on the bank yesterday forenoon The run was soon quelled by the officers who assured the deposit ors demanding. their deposits that they were entirely safe, pro. tected by the guaranty fund, and that there was no intention on the part-of the officers to close the bank, but that they would continue to conduct it and take care of its customers. Officers of the bank were in Pender consulting with the bank's attorney and suit against one of the more persistent of fenders is being prepared and will be filed today, followed by other suits if the situation demands, we are informed.
2.January 11, 1928The Laurel AdvocateLaurel, NE
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Article Text
SUIT TO BE FILED TODAY It is reported that certain enemies of the Thursday State bank at Thurston, circulated rumors concerning the condition of the bank which precipitated a run on the bank yesterday forenoon. The run was soon quelled by the officers who assured the depositors demanding their deposits that
3.January 13, 1928The Pender TimesPender, NE
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Article Text
Bank Closes The Thurston State President E. Haneock of the Thurston State Bank tells us the bank has been closed and has been taken over by the State Guarantee Fund commission will be and operated by the men in charge of the Liberty State Bank.
