Western Bank & Trust Company (Sturgis, SD)

Episode Information

Episode UID
7498090391132
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
749809039 hash
Start Date
April 1, 1894*
Location
Sturgis, South Dakota (44.410, -103.509)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1fbbe434cc1d232c

Response Measures

None

Description

Closure described as a voluntary retirement though a receiver is later referenced in court records.

Events (3)
1. April 1, 1894* Suspension
Cause
Voluntary Liquidation
Cause Details
Bank 'closed its doors' and 'conclusion to retire from business' after operating at a loss for nearly a year.
Newspaper Excerpt
The Western Bank and Trust Company of Sturgis closed its doors on Wednesday of last week, placing a notice thereon notifying the public of their conclusion to retire from business.
Source
newspapers
2. March 9, 1896 Other
Newspaper Excerpt
P. E. Sparks, receiver of Western Bank and Trust company - the Sturgis creamery company; motion to dismiss appeal denied without prejudice.
Source
newspapers
3. March 9, 1896 Receivership
Newspaper Excerpt
P. E. Sparks, receiver of Western Bank and Trust company
Source
newspapers

Newspaper Articles (2)
1. April 28, 1894 Custer Weekly Chronicle Custer, SD
Article from Custer Weekly Chronicle, April 28, 1894

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Article Text

The Western Bank and Trust Company of Sturgis closed its doors on Wed nesday of last week, placing a notice thereon notifying the public of their conclusion to retire from business. The bank has been run at a loss for nearly a year, and, as stated by President Polk to a Record reporter, from pride in the town was continued. The depositors will, it is said, lose nothing by the closing of the institution, the assets exceeding in a large measure, all outstanding liabilities.

2. March 14, 1896 The Kimball Graphic Kimball, SD
Article from The Kimball Graphic, March 14, 1896

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Article Text

Supreme Court Decisions. Pierre, S. D., March 9.-The supreme court has handed down decisions in the following cases: Iowa Investment company vs John Shepard, Kingsbury county: affirmed. P. E. Sparks, receiver of Western Bank and Trust company - the Sturgis creamery company, Meade county; motion to dismiss appeal denied without prejudice. Shickee, Harrison and Howard Iron company vs the city of Rapid City, Pennington county; motion to dismiss appeal denied without prejudice.