Northwest Davenport Savings Bank (Davenport, IA)

Episode Information

Episode UID
72001371596
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
7200137 routing
Routing Number
72-0013
Start Date
December 24, 1932
Location
Davenport, Iowa (41.524, -90.578)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b7c23887d1a0da65

Response Measures

None

Description

Bank suspended Dec. 24 and was placed in receivership; no reopening reported.

Events (2)
1. December 24, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspended due to deficiency of assets and inability to meet depositors' claims; examiner found deficit requiring assessments from stockholders.
Newspaper Excerpt
The bank suspended business on Dec. 24
Source
newspapers
2. February 7, 1933 Receivership
Newspaper Excerpt
receiver in charge ... pended operation on Dec. 24 last, ... examiner in charge, the ... filed for the March term ... approximately 300 share owners in Northwest Savings involved.
Source
newspapers

Newspaper Articles (16)
1. February 7, 1933 Quad-City Times Davenport, IA

Article Text

THE STOCKHOLDERS Approximately 300 Share Owners in Northwest Savings Involved. Instructions to bring suit against stockholders of the Northwest Dav enport Savings bank, which pended operation en Dec. 24 last, special levy for the today District Judge Harry Lynn, examiner in charge, the neys, John The tiled for the March term of There approximately individual stockholders, according the The bank capitalized at $100.Eggert, cashier of the bank, the largest individual stockholder. owning shares. Similar action will taken connection with the of the Home bank, the tendorf Savings and the Union Bank Trust pany. The the Home Savings bank was filed today, and the ings bank will filed ernoon Wednesday. attor the Union ings Bank Trust company ready for several contemplated until after inventory record. The conference today the court, the examiner Davenport bank, and the attorneys senting the receiver for marshaling the assets discussing plans for the work. matter examiner said, before they position determine available depositors, man woman bread wants him

2. February 24, 1933 The Rock Island Argus Rock Island, IL

Article Text

FILE BANK DAVENPORT Assessment of 100 Per Cent Ask. Stock of Northwest Savings in Action. Two hundred individholders capital stock the closed Northwest Davenport Savbank, including persons transferred stock within the past year, defend100 per cent liability suit filed today Scott county district court by drews, receiver, and H. Lynn, examiner in charge. entire issue of stock, shares, the suit. An share asked. Albert Eggert, cashier of the bank, the heaviest stockholder, shares, and the president, Dr. Weber, possesses 16 shares. Depositor claims amount exclusive. bills able. Deficiency in assets for payment claims against the bank fixed the collection of the 100 per cent assessment not be sufficient overcome the deficit. suit lists 11 individuals who disposed of stock in the year ceding the closing of the bank, that these transfers clared "fraudulent, null and

3. February 25, 1933 The Dispatch Moline, IL

Article Text

Stockholders Of Two More Banks Iowa Are Sued Suits asking 100 percent assessment against the stockholders the defunct Bettedorf Savings bank the defunct Bettendorf bank bank Davenport were filed the district court of Scott county today by Andrews, Iowa of banking. similar action was started yesterday against the owners stock the Northwest Savings bank of Davenport. The against the Bettendorf stockholders sets forth that the bank owes depositors exclusive of other bills and that the examiner the deficiency This stitution has 250 shares of par outstanding. The Home Savings bank owes positors and the examiner the deficiency $100,000. hundred shares $100 par are listed in the suit.

4. March 17, 1933 Quad-City Times Davenport, IA

Article Text

BANK RECEIVER ENTERS SUIT TO COLLECT ON CHECK The receivership of the North Davenport Savings bank filed today district court Henry Harder collect $200 alleged check given the bank last upon the Union Savings bank and Trust company Harder alleged stopped payment check.

5. March 19, 1933 Quad-City Times Davenport, IA

Article Text

FILE CLAIM TO SALE PROCEEDS HELD BY BANK Claims for the surrender of $1,418.47, representing proceeds from public sale, on the ground that the proceeds constitute a trust fund and not deposit were filed against the receivership of the Northwest Davenport Savings bank Saturday Charles E., Julius J. and A. W. Werthmann, thru their attorneys, Bush Bush. The funds in question were pro ceeds from sale on Dec. at which Albert Eggert, cashier of the bank, officiated as clerk. In his claim of $1,165.20. Charles E. Werthmann states that he called the bank on Dec. 16 and demanded the money from the sale. He was refused on the ground that the records had not yet been straight ened out. The bank suspended business on Dec. 24 The claimants deny that they au. thorized anyone to deposit the money in the bank. They ask the court to classify the fund as trust and not as general claim. Julius Werthmann's claim totals $188.32. and W. Werth mann's $64.95. All three claims are based upon proceeds from the same

6. April 27, 1933 Quad-City Times Davenport, IA

Article Text

Report Covering Three Operation at Northwest Approved. Cash receipts of and disbursements totaling $24,082.82 set the first report the receivership of the Northwest Davenport Savings bank filed today the district court Lynn, examiner in charge. The report, covering the period from date of the December and includMarch 31, approved Judge W. Scott. The report lists total revised assets of the bank, suspended business Dec. 27, Cash included collected bills receivable: $12,702.77 mortgages, on stockholders assessliability. Offsets allowed by the examiner charge include receivable; gages. Disbursements. totaling include receivership expense; $488.68 advanced conassets, and $20,216.67 paid the Merchants National bank, CeRapids. Cash on hand on March 31, cluding the collections made the the and including March together with cash hand the bank closed, totaled

7. May 16, 1933 Quad-City Times Davenport, IA

Article Text

COURT EVIDENCE ON Owners of Farm Sale Proceeds Insist Claim Receive Priority. Objections the classification of the Werthmann brothers claim against receivership the Northwest Davenport Savings bank presented today in DisJudge W. Scott's court counsel for the claimants. The claim, involving proceeds from farm sale collect. by Albert Eggert, cashier, officiated clerk of the sale, was classified by examiner charge general depositors claim. The claimants, Julius Charles and Werthmann, thru their Bush Bush, contend the should be rated claim, ahead of the claims. The held early the collect by Eggert, were the latter into cashier's check payable to After bank closed on Dec Eggert assigned cashier's check claim to the Werthmanns Mr. Eggert was called to the witness stand this afternoon his version of the proceeds of the farm sale was not turned over Werthmanns' before the bank suspended business The objections are first tried out in court the general approval of the classifica tion of claims three bank ceiverships signed Monday by the court. The court order of approv. exempted all objections which subject to court hearings later.

8. August 30, 1933 Quad-City Times Davenport, IA

Article Text

BANK RECEIVER WINS RIGHT TO PREFER CLAIM Right of the Northwest Davenport Savings bank receivership claim of $2,500 against Anna Wolters estate upheld today District Judge court. claim contested by John Wolters, executor of the estate, the ground that claim was barred because had not been sented during the year the estate to probate.

9. February 7, 1934 The Daily Times Davenport, IA

Article Text

PREFERENCE CLAIMS HINGE number of bank receivership preference claims over the state were seen today to hinge on the ruling on an appeal for hearing Iowa supreme court in the Charles E. and Julius Werthmann against the Northwest Davenport Savings bank. Bush Bush are appearing for the Werthmanns, whose claims total about $1,500, while Louis Roddewig was present arguments for the bank receivership. District Judge W. W. Scott ruled in favor the receiver in his that proceeds posited in the bank by Albert Egafter he had acted gert, clerk of auction sale for the an did not constitute trust funds.

10. March 14, 1934 Quad-City Times Davenport, IA

Article Text

TWO INVOLVING SOUGHT IN COURT Two mortgage foreclosures notes asked suits filed Scott county district court by bank and Northwest Davenport Savings bank receivers The Union bank receiver brought action against Lena Stark for judgment for property, and the porary and appoint ment Lothringer ceiver the property filed by Smtih Swift. Julius Clara Jehring and others defendants foreclosure action by the Northwest bank which asks for receiver the property also asked Roddewig Voll represent the plaintiff

11. March 16, 1934 Quad-City Times Davenport, IA

Article Text

John M. Brown, to collect Fred Weisman filed suit against Walter Voelkers for $600 rental claimed due on farm. The petition recites on Nov. 1931, the defendant agreed to purchase acres in Butler township in the the plaintiff able to sethe property from the Clinton Savings bank. The plaintiff was unable do this and the claim filed on an alternate agreement for of rent in the event payment was not made. The Northwest Davenport Savings receivership seeks foreclosure collection of from Henry Kuehl.

12. April 18, 1934 The Des Moines Register Des Moines, IA

Article Text

INTEREST SLASH APPROVED. (The Register's Judge W. R. Maines signed an or. der Tuesday authorizing a con. tract between the Northwest Davenport Savings bank receivership and the Reconstruction Finance Corp. for reduction of the interest rate on the bank's old R. F. C. loan from 53 to 4 per cent.

13. June 29, 1934 Quad-City Times Davenport, IA

Article Text

REPORT DEPOSITORS SECURE CHECKS Northwest, Home and tendorf Bank Starts Monday. Approximately 6,650 depositors the closed Northwest Davenport, Home and Bettendorf ings banks will benefit from tial payment made those institutions beginning Monday, announced in Thurs day evening's Democrat. Dividend checks totaling $998, 103.28 distributed the three houses. The checks drawn the Bank Trust felt that the release this amount cash time have very beneficial effect on local business. The number depositors amounts to paid out each receivership office Northwest depositors. Home depositors. Bettendorf Savings to depositors.

14. July 18, 1934 Quad-City Times Davenport, IA

Article Text

FILES REPORT Cash Receipts for Three Months Ending June Are $72,424. Cash receipts for the threemonths' period ending June for the Northwest Davenport Savings bank receivership totaled according the sixth terly report of the receiver, Bates, filed in Scott county discourt by Lynn, examiner charge. receipts include lected on stock assessments, bringthe total assessments collectsince the bank receivership ago, rents durthe period by total while the penses the months The into C., June

15. July 19, 1934 The Des Moines Register Des Moines, IA

Article Text

Polk-Peterson Buys Webster Bond Issue RECEIVER REPORTS. (The DAVENPORT quarterly Peterson Corp. of Des Moines report filed Wednesday for the Wednesday purchased $39,000 closed Northwest Davenport Sav. issue of Webster county poor relief ings bank by Receiver H. Lynn, bonds, maturing from 1935 to 1943 showed cash receipts amounting The bonds bear 3-4 per cent $72,424. Total net expenses interest, the lowest in the county's for the receivership for the same history. No premium was paid amounted to $9,300.

16. October 22, 1935 Quad-City Times Davenport, IA

Article Text

FORECLOSURE OF MORTGAGE SOUGHT ON FARM PROPERTY Foreclosure of a mortgage for $17,870 on 120 acres of Scott county farm land owned by Albert and Lizzie Kroeger is sought in a petition filed in the Scott county district court by the Northwest Davenport Savings bank receiver, represented by A. G. Sampson. The same attorney acting for the Equitable Life Assurance society of the United States, has filed a foreclosure suit in the amount of $5,765.47 against Elizabeth Reynolds and Davenport real estate owned by her. Receivers are asked in both cases.