Northwestern Davenport Savings Bank (Davenport, IA)

Episode Information

Episode Type
Suspension → Closure
Start Date
December 24, 1932
Location
Davenport, Iowa (41.524, -90.578)
Bank Type
savings
Routing Number
72-0013
Canonical name
Northwest Davenport Savings Bank
Alt. names
Northwestern Davenport Savings Bank

Metadata

Episode ID
Bank ID
City ID
190455799
Model
gpt-5-mini
Short Digest

Notes

Articles show the bank suspended in late December and was placed in receivership; no run is described.

Events (2)
1. December 24, 1932 Suspension
Cause Details
Articles do not specify a triggering run or explicit cause; bank suspended operations and entered receivership.
Newspaper Excerpt
The bank suspended business on Dec. 24
Source
newspapers
2. February 4, 1933 Receivership
Newspaper Excerpt
Payment ... to the Merchants National bank of Cedar Rapids from assets of the closed Northwest Davenport Savings bank approved today ... on application of the bank receiver.
Source
newspapers

Newspaper Articles (16)
1. February 4, 1933 The Daily Times Davenport, IA

Article Text

Delivery to the Bechtel Trust Co. of the AmerTrust Co. of now securities valued owned by the Grand Lodge order signed by District today the Scott county district court. Application for transfer of the Bechtel Co. was made Block Block, attorneys for the Grand Lodge. The securiwere placed with the American Trust Co. under trust agreement Feb. 13, 1932. Payment of $20,216.67 to the Merchants National bank of Cedar Rapids from assets of the closed Northwest Davenport Savings bank approved today Judge Maines on application of the bank receiver. The amount represented loan the Northwest bank dated Dec. 1932, due. Feb. 1933 Lynn, examiner in charge bank, the with the Cedar Rapids bank.

2. 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

3. 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

4. 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.

5. 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.

6. 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

7. 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

8. 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.

9. 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.

10. December 12, 1933 Des Moines Tribune Des Moines, IA

Article Text

Three Iowa Banks To Pay $179,490 DAVENPORT IA. (P)-Depositors of three closed banks in Davenport and Bettendorf will receive approximately $179,491. probably by Christmas Announcement was made Tuesday by examiners in charge for D. W. Bates, state superintendent of banking and receiver for the institutions, after approval in district court. These first payments from the three institutions which closed last December amount to 5 per cent in the case of the Northwest Davenport Savings and Home Savings banks and 10 per cent for the Bettendorf Savings bank. Harvey Estate Pays $300 Tax. The estate of Isaac A. Harvey of Sioux City, Ia., paid $322.62 inheritance tax Tuesday The pay. ment to State Treasurer Leo J. Wegman was based on an estate taxable value of $20,610.76

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

Article Text

Judge Scott has taken advisement the motion trial in the controversy check which the Soldier, Savings bank plaintiff and the Camanche Sand and Gravel Co., the Lynch Construction Co., defendants. The Northwest Davenport Sav ings bank receiver, Attorneys Roddewig and Vollertsen, have brought action in Scott county disagainst Ernst Olderjudgment for leged due promissory note. Ell Alexoff dismissed by Judge W. Maines defendsuit brought in district court John Smith against Alexoff and John for and lien. In the action against Alexoff, Judge Maines sustained his that he was not involved the case. Action against Burkard and William Burkard, the charged with operating motor hicle while intoxicated, and the latter appealing on charge dismissed in disintoxication, was trict court when they paid costs. and Mabel Lynn and others are named defendants mortgage action brought Scott district court Attorney Jack Vollertsen. by The asks for judgment on note for plus interest from Jan. 24, 1932.

12. 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

13. 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.

14. 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.

15. 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.

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.