3146. Cass County Bank (Atlantic, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 1, 1893*
Location
Atlantic, Iowa (41.404, -95.014)

Metadata

Model
gpt-5-mini
Short Digest
ddd0198b

Response Measures

None

Description

The bank failed around Christmas 1893 and was placed in receivership; by 1896 the receiver is paying a dividend. No mention of a depositor run in the articles; outcome is permanent closure with a receiver.

Events (2)
1. December 1, 1893* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank insolvency/failure around Christmas 1893; led to failure and appointment of a receiver
Newspaper Excerpt
The bank failed about Christmas, 1893
Source
newspapers
2. November 10, 1896 Receivership
Newspaper Excerpt
Theodore G. Steinke, receiver of the Cass County bank, is now paying 10 per cent dividend on all the preferred claims of the bank. This is the result of an order received from the courts. The bank failed about Christmas, 1893, and now the preferred depositors alone are receiving a 10 per cent dividend on their deposits, which amounted to $60,000.
Source
newspapers

Newspaper Articles (3)
1. November 12, 1896 Audubon Republican Audubon, IA
Article from Audubon Republican, November 12, 1896

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Article Text

Defunct Bank Pays a Dividend. ATLANTIC, Nov. 10.-Theodore G. Steinke, receiver of the Cass County bank, is now paying 10 per cent dividend on all the preferred claims of the bank. This is the result of an order received from the courts. The bank failed about Christmas, 1893, and now the preferred depositors alone are receiving a 10 per cent dividend on their deposits, which amounted to $60,000.

2. November 13, 1896 Iowa State Bystander Des Moines, IA
Article from Iowa State Bystander, November 13, 1896

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Article Text

Cass County Hank Creditors. ATLANTIC. Nov. 11.-T. G. Steine, receiver of the Cass County Bank, has by order of the court, declared a 10 per cent dividend to be paid to the holders of the $70,000 of preferred claims against the bank. The holders of ordinary claims against the bank will never get a penny.

3. November 13, 1896 Iowa State Bystander Des Moines, IA
Article from Iowa State Bystander, November 13, 1896

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Article Text

Cass County Bank Creditors. ATLANTIC. Nov. 11.-T. G. Steine, receiver of the Cass County Bank. has by order of the court, declared a 10 per cent dividend to be paid to the holders of the $70,000 of preferred claims against the bank. The holders of ordinary claims against the bank will never get a penny.