Article Text
Banking Department to Pay Henry Depositors Dividend Pierre, Dec. assets Henry State bank of Codthe banking department pay first and final will the The bank suspended on June 16, 1926.
20357. Henry State Bank (Henry, SD)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- June 16, 1926
- Location
- Henry, South Dakota (44.877, -97.466)
Metadata
- Model
- gpt-5-mini
- Short Digest
4be438f3
Response Measures
None
Description
Articles state the bank suspended on June 16, 1926 and by December 1932 the state banking department was selling remaining assets and paying a first and final dividend (liquidation). No run is mentioned and the bank remained closed and in liquidation/receivership.
Events (2)
1.
June 16, 1926
Suspension
- Cause Details
- Article gives the suspension date but does not state a cause.
- Newspaper Excerpt
- The bank suspended on June 16, 1926.
- Source
- newspapers
2.
December 19, 1932
Receivership
- Newspaper Excerpt
- Banking Department to Pay Henry Depositors Dividend...Recent sale of the remaining assets of the Henry State bank Henry, Codington county, will enable the state banking department to pay depositors first and final dividend of 1.7 per cent. The bank suspended on June 16, 1926.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
RURAL CREDIT AIDS OFFERED Director of Department in Dakota Gives Suggestions tions for legislative action to refinancing of rural credit obligations advanced Monday by W. M. Willy, department director, in a statement which emphasized the necessity of first providing additional sinking funds. Mr. Willy. who has headed the department for year and a half under Gov. Green, said he will send the report outlining rural credit conditions to legislators and memhers of the incoming democratic administration. His proposals to aid refinancing. prefaced with warning that sinkIng funds must first be provided to a large part of the obligations they mature. are: Change the bond law to give the gural credit board the choice of lusing either short maturity. fiveear optional maturity. or long maturity bonds. The present law does not permit the board to offer long term fixed maturity issue, and under current market conditions this is handicap. Invest in Bonds Require the state treasurer to invest sinking funds in South Dakota bonds of maturity prior to the date of the issue for which the sinking funds are provided. Since sinking funds now draw only per cent Interest, their investment in state bonds would increase the intelest yield to the state as benefit the rural credit department. claimed. Continue the present policy of the state securities commission which requires that South Dakota securities used, in part. when deposit demanded for the protection of South Dakota investors. In addition, make the same policy effective insofar as practical in the Insurance department Encourage school, nicipal and county treasurers to vest their sinking funds in the curities of South Dakota. Invest "fair percentage" of the permanent school fund, as it is available. in South Dakota bonds. The first two suggestions would require legislative action to make them operative, while the three are optional with executive officers, Mr. Willy said. each of whom was a lawyer and bore the same Judge Ogden, democrat, was appointed to the office of county judge of Lawrence county by a republican governor in 1921. Elks' Official Honored Madison. 8. D.-Special: Several hundred Elks from various parts of the state attended the Elks inspection and ceremonial held in honor of George Hunt, deputy grand exalted ruler of the lodge. Bob Meldrum, of Sloux Falls, president of the Elka, was honored guest. class of five candidates was initiated and smoker and Dutch lunch followed the ceremonial. Bank Dividend Declared Pierre, S. D.-(P)-Recent sale of the remaining assets of the Henry State bank Henry, Codington county, will enable the state banking department to pay depositors first and final dividend of 1.7 per cent. Payment of the dividend result iin the distribution of about $2,000. The bank suspended on June 16, 1926. Barber Aid Is Denied Kimball, S. D.-Special: Commissioners of Brule county adopted resolution providing that in the future the county would not pay for barber work furnished of the county poor farm. Those living on the farm will have to shave themselves and do their own hair cutting. I-Annual Officers Chosen Mitchell, S. D.-Special: Merrill Powers of Plankinton, and Dwight Schwab of Pierre, were elected editor and business manager of the 1935 issue of The Tumbleweed. bi-annual of Dakota Wesleyan university. The 1935 edition of The Tumbleweed will be issued next year