Milk River Valley Bank (Glasgow, MT)

Episode Information

Episode UID
5756775391494
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
575677539 hash
Start Date
June 26, 1924
Location
Glasgow, Montana (48.197, -106.637)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
536af4a269475a23

Response Measures

None

Description

Bank closed voluntarily for liquidation; receiver and liquidating agent later handled affairs.

Events (3)
1. June 26, 1924 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors decided to liquidate due to insufficient business; bank did not open and ceased operations as a bank.
Newspaper Excerpt
The affairs of the Milk River Valley Bank will be liquidated... The bank did not open Friday morning, ceasing to exist except as a clearing house for its affairs.
Source
newspapers
2. November 12, 1925 Other
Newspaper Excerpt
SHEA APPOINTED AGENT GLASGOW-James T. Shea was appointed... to succeed S. C. Small, as liquidating agent for the Milk River Valley bank, as he has taken over active charge of the work, Mr. Small having left Wednesday evening for Deer Lodge to take up his new duties as deputy registrar of motor vehicles.
Source
newspapers
3. April 10, 1927 Other
Newspaper Excerpt
A deal was closed last week between the members of the Glasgow fire department, the receiver of the Milk River Valley bank, its directors and creditors, for the purchase of the bank building... The Milk River Valley bank building is one of the finest structures in the city.
Source
newspapers

Newspaper Articles (3)
1. June 26, 1924 The Valley Tribune Bainville, MT
Article from The Valley Tribune, June 26, 1924

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Article Text

Glasgow Bank To Close Voluntarily Glasgow.—The affairs of the Milk River Valley Bank will be liquidated at the earliest possible time The bank did not open Friday morning, ceasing to exist except as a clearing house for its affairs. Officials of the bank state that the move has been contemplated for some time and that the decision was finally made early last week. "Not enough business to make expenses," is given as the reason of the step. It is understood that depositors whose accounts date from the reopening of the institution on Aug. 1, 1922, will be paid in full very shortly and those who signed up in 1922 for the reopening will receive the agreed half of their deposits and a good share, if not all of the remaining half which was placed in the depositor's guarantee fund. T. H. Markle is the bank's president, John Eechart, vice president, S. C. Small, cashier. Other directors are John Eechepare and Durell brothers.

2. November 12, 1925 Phillips County News Malta, MT
Article from Phillips County News, November 12, 1925

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Article Text

SHEA APPOINTED AGENT GLASGOW-James T. Shea was appointed Saturday by the board of directors of the Milk River Valley bank, to succeed S. C. Small, as liquidating agent for the Milk River Valley bank, as he has taken over active charge of the work, Mr. Small having left Wednesday evening for Deer Lodge to take up his new duties as deputy registrar of motor vehicles. Due to the fact that the duties of the new position will occupy all of Mr. Shea's time he will sever his connection with the law firm of Dignan and Shea and will devote his entire tme to the new position.

3. April 15, 1927 The Producers News Plentywood, MT
Article from The Producers News, April 15, 1927

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Article Text

GLASGOW FIRE FIGHTERS BUY BANK BUILDING Pay $19,000 for Modern Home to House Department and Equipment. Glasgow, April 10.-A deal was closed last week between the members of the Glasgow fire department, the receiver of the Milk River Valley bank, its directors and creditors, for the purchase of the bank building at Second avenue south and Fourth street. The consideration was approximately $19,000, the fire department making a substantial cash payment, the balance to be paid over a period of nine years. The Milk River Valley bank buildis one of the finest structures in the city. It is modern in every respect and will provide ideal quarters for the fire department members and equipment. Fire Chief Fred Alvord and Alderman Leo B. Coleman, together with several other members of the fire department, have worked to bring the purchase about. The revenue from the building will almost pay for it in time the contract provides. The builders will house the city offices, the fire department and the office of the Montana Power company on the ground floor, while a suite of business offices and one large apartment upstairs have permanent tenA