State Bank (New Salem, ND)

Episode Information

Episode UID
1972189091569
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
197218909 hash
Start Date
September 17, 1930
Location
New Salem, North Dakota (46.845, -101.411)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
78df14493a6de087

Response Measures

None

Events (2)
1. September 17, 1930 Receivership
Newspaper Excerpt
dividend was received ... from the bank's receivers; total dividends paid by the bank receivers on the Red Cross deposit 67.4 per cent
Source
newspapers
2. September 17, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed and placed in receivership leading to dividends being paid to depositors
Newspaper Excerpt
the New Salem State bank closed
Source
newspapers

Newspaper Articles (2)
1. September 17, 1930 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, September 17, 1930

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Article Text

Morton's Red Cross Gets Dividend from New Salem Receiver Morton county's chapter of the American Red Cross is slowly but surely getting back the money it lost when the New Salem State bank closed, it was announced today by A.° W. Furness, secretary of the county Red Cross. A 7.4 per cent special dividend was received by Mr. Furness this morning from the bank's receivers. This makes the total dividends paid by the bank receivers on the Red Cross deposit 67.4 per cent, Mr. Furness explained. Red Cross funds are distributed to all banks in the county, the secretary said in explaining why the funds were placed in the New Salem bank before it closed.

2. September 17, 1930 The Bismarck Tribune Bismarck, ND
Article from The Bismarck Tribune, September 17, 1930

Click image to open full size in new tab

Article Text

Morton's Red Cross Gets Dividend from New Salem Receiver Morton county's chapter of the American Red Cross is slowly but surely getting back the money it lost when the New Salem State bank closed, it was announced today by A. W. Furness, secretary of the county Red Cross. A 7.4 per cent special dividend was received by Mr. Furness this morning from the bank's receivers. This makes the total dividends paid by the bank receivers on the Red Cross deposit 67.4 per cent, Mr. Furness explained. Red Cross funds are distributed to all banks in the county, the secretary said in explaining why the funds were placed in the New Salem bank before it closed.