Article Text
NEVADA BANK CLOSES NEVADA, Jan. The Savings bank was People's closed here today due to continued Deposits amounted to about $400,000. One here. The First mains operation bank closed its doors National Wednesday.
Peoples Savings Bank (Nevada, IA)
Episode Information
- Episode UID
72037371525- Episode Type
- Run → Suspension → Closure
- Bank Type
- savings
- Bank ID
-
7203737routing - Routing Number
72-0373- Start Date
- January 6, 1927
- Location
- Nevada, Iowa (42.023, -93.452)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
674c0ee2b253fb1e
Response Measures
None
Description
Closure in Jan 1927 followed heavy withdrawals tied to correspondent failure; a receiver remained involved at least through 1931.
Events (3)
1.
January 6, 1927
Run
- Cause
- Correspondent
- Cause Details
- Withdrawals followed failure of its correspondent, the Iowa Loan and Trust Company of Des Moines.
- Measures
- Failed to open for business; bank closed its doors to protect depositors.
- Newspaper Excerpt
- Peoples Savings bank was closed here today due continued withdrawals Deposits amounted about $400,000.
- Source
- newspapers
2.
January 6, 1927
Suspension
- Cause
- Correspondent
- Cause Details
- Bank suspended operations and failed to open following heavy withdrawals tied to the collapse of a correspondent (Iowa Loan and Trust).
- Newspaper Excerpt
- The Peoples Savings bank of Nevada failed to open for business today...the bank had been closed for the protection of depositors.
- Source
- newspapers
3.
August 10, 1931
Receivership
- Newspaper Excerpt
- Bank Receiver's Last Report Approved ... the final report of the receiver of the closed Peoples Savings bank of Nevada was approved.
- Source
- newspapers
Newspaper Articles (6)
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Article Text
SECOND NEVADA BANK CLOSES IN TWO DAYS Nevada. Ia., Jan. The Peoples Savings bank of Nevada. failed to open for business today, making the second bank failure in this city within twentyfour hours statement issued by officials said the bank had been closed the protection of depositors The bank had capitalization of 000 and deposits of Officers were M. president, and McConkie and Martin. vice presidnets. Meeting of bank officials of the city with business men and citizens was held last night follow ing the failure of the First National was given the meeting that the finances of the two remaining banks were in good condition. Peoples Savings however, failed few The Peoples Savings bank was correspondent the defunct Iowa Loan and Trust company bank of Des Moines.
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Article Text
THREE MORE BANKS IN STATE ARE CLOSED Jan. The First National bank Moulton, with capital stock $35,000 vol. untarily remained closed yesterday, while officers of the bank were tempting to arrange for continuing the There no "run" the bank and its closing caused by the inability liquidate money that is tied up in farm loans. NEVADA. Ia., Jan. Peoples Savings bank was closed here today. due continued with drawals Deposits amounted about $400,000. bank The First National closed its doors yesterday.
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from EVERY DOT Bryan Untiedt Appeals to Humboldt Residents of Humboldt have received an appeal from Bryan Untiedt hero of Colorado's bus tragedy last winter, for funds to erect memorial to the six school children who froze to death in the bus. Humboldt Merchants Sponsor Watermelon Day professional men of Humboldt will sponsor watermelon day Wednesday, when carload of iced watermelon will be served on Main st. Renwick to Celebrate Fiftieth Anniversary city of 491 population, will observe the fiftieth anniversary of its founding Aug. 20 and 21 with homecoming celebration, parades, ad dresses and sports events. Eagle Grove Pastor Preaches at Humboldt Rev. W. E. Warmes, retired Eagle Grove minister, occupied the pulpit at the Methodist church here Sunday, in the absence of the Rev. Share. $9,000 Is Subscribed on Waverly Bonds of Waverly have formally pledged themselves buy $9,000 worth Waverly Printing co. bonds. The company wants to sell $15.worth the city before it decides retain its publishing plant in Waverly. Keota School Board Employs Superintendent school board has employed J. Frank Church Cedar Falls as superintendent of Keota public schools at salary $225 month. There were 165 applicants for the position. Four Persons Injured When Car Leaves Road EAGLE GROVE Four persons were slightly injured Friday night when an automobile driven by Thomas Kenefick failed to make turn crashed through farm fence. Bank Receiver's Last Report Approved Buren Clock has signed an order approvGenevieve of Van ing the final report of the receivwas hurt Badly er of the closed Peoples Savings believed she will die. They bank of Nevada. report proreturning from swimming vides for the payment of final party. to depositors. Decorah Faces Water Storage Problem DECORAH- While city pumping station has been able keep pace with Increased demands for water here reservoir for storing it has become problem for the city council which Is considering the groblem of sewage disposal. Stuart to Have New Electroliers city council has approved contract with the Kaul Engineering and Construetion co. of Fort Dodge which calls Sunday for the rebuilding of the orna mental lighting system for the The contract price of the work is $2,668.
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SEMANS BY STORY GRAND Seven Indictments Are Returned On Tuesday Semans, for. resident of Ames and forreceiver of the Peoples Savings bank of Nevada, freed charge of embezzlewhich hung over since April, when the Story county grand jury returned no true bill against him Tues. day. According to County At. torney Jeffrey Hougen, no evi. dence against Semans was sub. mitted the jury. Semans was bound to the grand jury April when he pleaded not guilty before Judge Luke in the Ames municipal court charges of embezzlement filed against him by Bruce Townsend of the state banking department. Townsend charged that Semans had embetzled $1,000 or more while he was employed as receiver the Nevada bank. Unable to furnish the $5,000 bond set by Judge Luke. Semans was committed to the county jail Nevada where he remained unJuly. when furnished bond and was released. The former bank receiver arrested in LaCrosse, Wis. He left the service of the state banking department in 1930. No true bills were also returned against Keeler, charged with failure to report an accident, Koons, charged with assault with intent to do great bodily injury and Martin Erickson, charged with embezzlement. Seven indictments were returned the grand jury. joint indictment on charge possessing burglary tools was returned against Otto Shreck of Nevada and Harry and Theodore Ebsen. The Ebsen brothers were found guilty Red Cloud. Nebr., Saturday robbing the Webster county bank there July Louis Ames dicted on sodomy charge. The other five indictments have not yet been made public. In its report to the court, the grand jury stated that had made tour of inspection of all jails the county. and that most of them in good condition. It stated that the county home well taken care of, but concurred the report of the March term grand jury on the county jail, which statthat found to be in sanitary condition. that the ventilation was poor and that the light (Continued on Page Two)
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FAR TO GET COAT AND $100 HE FORGOT Minn. -Special: In the M. Kirbey, of Preston, Ia., sure that he does not leave behind when on an autoThe weather was warm when Kirbey reached the station here he took off his drove forgetting it. coat was missing and he remembered where he had left it. Turning around, he drove back here. In the meantime, Bob Wheeler, at the oil station, found the coat and as its pockets were found to contain more than $400 in cash, he put the coat in a safe place awaiting word from the owner. Kirbey reached the station on his return trip early in the morning and claimed his coat and money. BANK RECEIVER IS NOT INDICTED FOR EMBEZZLING Nevada, Ia.-(P)-V. R. Semans, former receiver for the Peoples Savings Bank of Nevada and other closed Story county banks, was free today of charge of embezzling $1,000 from the local bank. The Story county grand jury ignored the case. County Attorney Jeffrey Hougan said no evidence against Se. mans was submitted to the jury. Semans was charged with embezzlement in March on information sworn out by Bruce Townsend of the state banking department. He was arrested in La Crosse, Wis., and bound over to the grand jury after hearing before Judge J. Y. Luke, of the Ames municipal court. He had been free on a $5,000 bond since July. as alternates. The squad and coach were scheduled to leave Ames today and to stop for practice coaching at several dairy farms en route to Waterloo.