Green Mountain Savings Bank (Green Mountain, IA)

Episode Information

Episode UID
1672154491298
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
167215449 hash
Start Date
February 1, 1908*
Location
Green Mountain, Iowa (42.102, -92.820)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
85ce14ef92a40bdf

Response Measures

None

Description

Cashier arrested and receiver appointed; bank property sold under court order.

Events (3)
1. February 1, 1908* Receivership
Newspaper Excerpt
A. A. Moore, receiver of Green Mountain Savings bank, to Henry Merrill... Receiver A. A. Moore sold Wednesday afternoon the property of the bank as directed by an order of the district court ... sold property to realize on all assets to meet its obligations.
Source
newspapers
2. February 1, 1908* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent leading to closure; cashier accused of receiving deposits for an insolvent bank.
Newspaper Excerpt
Donald A. Johnson, cashier of the Green Mountain Savings bank, which closed its doors Monday, was arrested...
Source
newspapers
3. April 1, 1908 Other
Newspaper Excerpt
For Sale at Public Auction, Wednesday, April 1, 1908, at 1 o'clock p. m., at Green Mountain, bank building, safe and fixtures. Subject to approval of court. A. A. Moore, Receiver.
Source
newspapers

Newspaper Articles (10)
1. February 29, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, February 29, 1908

Click image to open full size in new tab

Article Text

D. A. Johnson Locked Up on Charge of Receiving Deposits For Insolvent Bank ARRESTED IN CEDAR RAPIDS Johnson's Movements Were Considered Suspicious, Which Was the Primary Cause of His Arrest-Brought to This City This Morning-Denies His Guilt or Any Intention of Doing Wrong. Donald A. Johnson, cashier of the Green Mountain Savings bank, which closed its doors Monday, was arrested at about 10 o'clock Friday night at Cedar Rapids. Johnson was brought to this city early this morning by Sheriff C. S. Hutson and locked in jail. According to the complaint filed by F. E. Roberts, chief clerk in the office of State Auditor B. F. Carroll, Johnson is accused of receiving deposits unlawfully for an insolvent bank. Specifically the information charges the cashier with accepting and receiving from divers persons, the names of whom are unknown, certain money, bills, notes, checks and drafts, which were by Johnson deposited in the bank when he well knew that the bank was insolvent. Aroused Suspicion; Arrested. Johnson's actions, and more especiallysthe alleged conflicting stories he and Mrs. Johnson told about where they were going late Friday afternoon, were the causes which led to the cashier's arrest. Mrs. Johnson and her husband were at the Great Western station at 6:30 o'clock last night, when A. A. Moore, the bank's receiver, and F. E. Roberts, alighted from the train from Geeen Mountain. Mrs. Johnson is said to have led Mr. Moore, when he questioned her, to understand that she and her husband were going to Omaha. Johnson, it is claimed, told Roberts that he was going to Waterloo, and Mrs. Johnson was going to Cedar Rapids. Feared He Would Leave State. The apparent fear that Johnson might leave the state prompted Mr. Roberts to file the information, and to place the warrant in the hands of Sheriff Hutson. By that time it was learned that both Johnson and his wife had left on an early evening train for Cedar Rapids. Sheriff Hutson notified the police of that city to meet the train and arrest Johnson when he stepped from it, which was done. Mrs. Johnson was not held. Sheriff Hutson took a later train for Cedar Rapids, and returned with the prisoner this morning. Mrs. Johnson reached the city on a later train today. Johnson Denies Guilt.

2. March 26, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, March 26, 1908

Click image to open full size in new tab

Article Text

For Sale at Public Auction, Wednesday, April 1, 1908, at 1 o'clock p. m., at Green Mountain, bank building, safe and fixtures. Subject to approval of court. A. A. Moore, Receiver.

3. March 30, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, March 30, 1908

Click image to open full size in new tab

Article Text

Building and Lots of Green Mountain Savings Bank to Be Disposed Of IS VALUE APPRAISED $2,600 Property is to Be Sold at Auction Bond of Cashier Donald A. J hnson Reduced From $4,000 to $3,000 by Judge Parker Kansas Man Files Preferred Claim Against Bank. On the order of Judge J. M. Parker, made in the district court Saturday afternoon, the bank building and property of the Green Mountain Savings bank was ordered sold. The order to sell was granted on the showing made in the petition of the receiver, A. A. Moore, who requested that he be auhorized to dispose of the property. The property consists of the bank building and all its fixtures, the lot that it is on, and the lot adjoining it. The appraisers, William Shipton, J. B. Classen and Leroy Thompson, who were appointed by the court to appraise the property, have set a value of $2,600 on it. It is Mr. Moore's plan to sell the property at public auction. The contention is made in Mr. Moore's application for authority to sell that there is not sufficient assets to pay the obligations of the bank without the sale of the property. Johnson's Bond Reduced. The bond for the appearance of Cashier Donald A. Johnson in the disrict court, was reduced Saturday afernoon by Judge Parker from $4,000 ) $3,000. The court originally fixed 1,000 as the bond on each of the four adictments returned against Johnson. n the reduction this amount was cut down to $500 in each of the charges if receiving deposits for an insolvent bank, and for knowingly making false entries in the bank's books. This reluction of the bond brings it to the same amount of the bond that was se:ured for Johnson when he was held .0 the grand jury, and on which he vas released. It is expected that a new bond for Johnson will be secured. Preferred Claim Filed. James A. Basiger, of Larned, Kas., Saturday afternoon filed a preferred claim in the district court against the bank. By it he seeks to secure $101 from the receiver. The petitioner claims that the bank is indebted to him by having collected that amount from D. F. Yetley, of near Green Mountain. Basiger, so the petition says, held a note against Yetley, which he forwarded to the Green Mountain bank for collection. Yetley paid the note ten days before the bank was closed, but the money was not forwarded to Basiger.

4. March 30, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, March 30, 1908

Click image to open full size in new tab

Article Text

For Sale at Public Auction, Wednesday, April 1, 1908, at 1 o'clock p. m., at Green Mountain. bank building. safe and fixtures. Subject to approval of court. A. A. Moore, Receiver.

5. April 2, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, April 2, 1908

Click image to open full size in new tab

Article Text

Marshalltown State President Bids in Green Mountain Savings Bank RECEIVER SELLS EVERYTHING Lot Next to Bank Building Bought by Sellers & Dawson-Sales Made at Actual Appraised Value, $2,500 for Bank and $100 for Adjoining Lot— New Bank in Prospect. Receiver A. A. Moore, of the Green Mountain Savings bank, sold Wednesday afternoon the property of the bank as directed by an order of the district court, that the bank might realize on all assets in an effort to meet its obligations. The bank building and its fixtures were sold for $2,500 to President A. F. Balch, of the Marshalltown State bank, and Sellers & Dawson, of Green Mountain purchased the lots adjoining for $100. Both sales were exactly at the appraised values. There was a large crowd present at the sale, and included were several prospective buyers from this city, Gladbrook and Beaman. Mr. Moore announced that, while bids would be received on the property, he would consider no sale lower than the amount fixed by the appraisement. This had a tendency to stop the bidding, and Mr. Balch, who started the bank building at $2,500, was the only bidder. Sellers & Dawson had leased the lot adjoining and erected thereon a frame building used as a barber shop. They bought in the lot at private sale before the bank building was sold, in order to protect their own interests. New Bank is Assured. Green Mountain men say that a new bank for the town is assured just as soon as the present receivership is wound up. Farmers of the community, and others interested, including stockholders of the old bank, expect to organize and incorporate a new bank whenever the receiver is discharged. The lines of organization talked of are similar to those in existence in the county fair association, in which the stockholders from the country control the policy.

6. April 3, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, April 3, 1908

Click image to open full size in new tab

Article Text

WANTS MONEY RETURNED. Depositor of Green Mountain Bank Makes Application for Deposit. F. Gustafson, a depositor in the Green Mountain Savings bank, made application in the district court this morning for a return of $90, claimed to have been placed on deposit with the bank on February 19, a day or two before it was closed. The petition says that the deposit was made at a time when the bank was insolvent, and that it was kept separate from the other funds of the bank, and was not entered on the books of the bank usually kept for that purpose, but was entered in separate books, and that the sum has been kept intact. He asks that Receiver A. A. Moore be instructed to refund the money.

7. April 7, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, April 7, 1908

Click image to open full size in new tab

Article Text

# ELEVATOR AFTER NOTE. Green Mountain Corporation Files Claim Against Defunct Bank. Another claim against the defunct Green Mountain Savings bank, growing out of a loan and transaction involving notes, was added to the steadily increasing number of preferred claims Monday by an attorney representing the Green Mountain Farmers' Elevator Company. According to the claim and application for its allowance, the elevator company has $1,275 tied up in the bank's funds. This was paid to the bank to settle a note, but the note was not canceled or returned. The elevator company is now short both the money and the note. The petition alleges that the bank held two notes, aggregating $2,500, against the elevator company. The notes were paid on February 7, the petition says, and one of them was returned to the maker. The other note has passed into the possession of the Blackhawk National bank, of Waterloo. The money, $1,250, which was to have paid for this note, the petition alleges, is now in the possession of Receiver A. A. Moore. The petition asks that this sum, and in addition $25 in interest in the hands of Mr. Moore, be declared a trust fund to be applied on the outstanding note, and that Mr. Moore be ordered to acquire possession of the other note and cancel and return it to the maker.

8. April 7, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, April 7, 1908

Click image to open full size in new tab

Article Text

Clark, land in Edenville, $1. H. W. Neff and wife to Ida Noble, lots in Rhodes, $300. Harry L. Clark and wife to Aaron L. Clark, land in Rhodes, $1. C. H. E. Boardman and wife et al., lot 13, block 1, Ferner's addition, $100. A. A. Moore, receiver of Green Mountain Savings bank, to Henry Merrill, of Tama county, land in Green Mountain, $100. Peter Anderson to Emma C. Sprecher, lot 27, block 2. Swayzie's addition, $125. Carolyn A. Duffield and husband to Walter W. Hixson, lot 7 and part of lot 8, block 5, Andrews' addition, $6,000.

9. April 28, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, April 28, 1908

Click image to open full size in new tab

Article Text

APPEALS FROM ASSESSMENT. Receiver of Green Mountain Bank Wants Court to Annul Assessment. A. A. Moore, receiver for the Green Mountain Savings bank, has appealed by suit from the assessment made against the bank property by the township trustees of Marion township, acting as a board of review. The bank's property was assessed at $10,000 on January 31, of this year, and altho the assessment was appealed to the township trustees as a board of review in April, the assessment was allowed to stand. It is claimed in the receiver's petition that at the time the assessment was made the bank was wholly Insolvent, and that the bank did not have anywhere nearly as much money as it was assessed with. The suit is brought against the township, the county and Charles L. Burt, A. H. Rice and A. W. Hausafus, the township trustees.

10. May 14, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, May 14, 1908

Click image to open full size in new tab

Article Text

Marion Trustees on Bank Assessment. The Marion township trustees, A. H. Rice, Charles Burt and A. W. Hausafus, have authorized the statement regarding the suit brought by A. A. Moore, receiver for the Green Mountain Sav-