Storm Lake Bank - Storm Lake, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 14, 1904
Location: Storm Lake, Iowa (42.641, -95.210)

Metadata

Model: gpt-5-mini
Short Digest: 8938bae8

Response Measures

None

Description

Article (Dec 14, 1904) describes the Storm Lake bank having closed its doors, depressed condition of affairs, a receiver (Wilson) handling collections and uncertainty about dividends — indicating suspension and receivership/closure due to bad assets and unpaid judgments. No explicit run is described in the excerpt.

Events (2)

1. December 14, 1904 Receivership

Newspaper Excerpt: Receiver Wilson... My remittances are all made to the United States treasurer and the comptroller declares the dividends. (Receiver Wilson quoted.)
Source: newspapers

2. December 14, 1904 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed due to depressed affairs, bad assets, large judgments against officers and uncollectible claims (e.g., $36,000 judgment likely worthless).
Newspaper Excerpt: The affairs of the Storm Lake bank were in a decidedly depressed condition when it closed its doors.
Source: newspapers

Newspaper Articles (1)

1. December 14, 1904 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, December 14, 1904

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Article Text

thirty shares held by her and the latter for $1,000 for ten shares of stock not paid for. Mrs. Harker is the wife of the man who established the bank thirty or more years ago. The affairs of the Storm Lake bank were in a decidedly depressed condition when it closed its doors. Thus far not a sufficient amount has been realized from the assets to justify the payment of any dividend to the creditors. It is expected the judgments against the Harkers, amounting to $4.000 rvill be collectible, but the judgment against Mr. Brown , for $36,000 will probably be worth nothing. "I doubt if we will be able to get enough in the Brown case to pay the costs," said Receiver Wilson. "I am unable to tell when any dividend will be declared or how much the creditors will receive. My remittances are all made to the United States treasurer and the comptroller declares the dividends."