First State Bank (Moorhead, MN)

Episode Information

Episode UID
75013271487
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
7501327 routing
Routing Number
75-0132
Start Date
November 28, 1923
Location
Moorhead, Minnesota (46.874, -96.768)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9702cfb8f8c3788b

Response Measures

None

Description

OCR spelling in one article shows 'Moorehead' β€” corrected to Moorhead.

Events (2)

1. November 28, 1923 Suspension
Cause
Government Action
Cause Details
Closed by the state banking department due to frozen assets and depleted reserves.
Newspaper Excerpt
The First State bank of Moorehead, with deposits of $400,000, was closed today by the state banking department.
Source
newspapers
2. December 30, 1924 Receivership
Newspaper Excerpt
Brophy Is Temporary Moorhead Bank Receiver ... being checked in as temporary receiver of the closed First State bank of Moorhead.
Source
newspapers

Newspaper Articles (2)

Article from The Springfield Daily Republican, November 29, 1923

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Article Text

St Paul Bank Closed St. Paul, Minn., Nov. 28β€”The First State bank of Moorehead, with deposits of $400,000, was closed today by the state banking department. Frozen assets and depleted reserves were given as the reason for closing. Suicide Cashier Short in Accounts New Orleans, Nov. 28β€”Charles St Raymond, 48, vice-president and cashier of the Citizens Bank & Trust company, who shot and killed himself yesterday, was $94,150 short in his accounts, according to an announcement today by Charles J. Theard, president of the bank, and O. H. Pittman, chief of state bank examiners. LOCAL SECURITIES MARKET Bid and Asked Prices Furnished by Springfield Investment Brokers' Association as Quoted Yesterday Banks Div. Bid. Asked Atlas Trust ........ 80 .. Chapin National ........ 8 152 160 Chicopee National ........ 10* 220 .. Commercial Trust ........ 4* 130 .. Springfield National ........ 12 265 .. Spfld Safe Dep & Trust .. 12* 285 .. Third National ........ 12 279 292 Union Trust ........ 12* 460 505 City National, Holyoke .. 7 122 .. Hadley Falls Trust ........ 8 160 165 Holyoke National ........ 12 210 .. Park National, Holyoke .. 7 125 .. First National, Westfield 8 185 .. Hampden Nat., Westfield 8 150 .. First Natl., N'hampton 8 130 .. Hampshire County Trust 6 120 .. Northampton National .. 12* 235 .. First National, Greenfield 10 170 .. Franklin County Trust .. 6 100 .. First National, Amherst 8 145 .. Produce Natl, S. Deerfield 6 120 .. North Adams National .. 8 122 .. North Adams Trust ........ 4 103 .. Greylock National ........ 20 320 .. Morris Plan, Spfld. ........ 7 115 .. West Spfld. Trust ........ 4 110 120 Public Service Corporations Amherst Gas ........ 6 88 .. Amherst Water Co ........ 8 112 .. Bircham Bend Co ........ 12 190 .. Greenfield Elec. Light .. 8 122 .. Holyoke Street Railway .. 6 70 76 Holyoke Water Power .. 12* 460 .. Mt Tom Railway ........ 6 70 .. N. E. Power pref ........ 6 91 .. Northampton St Ry. ........ 6 65 70 Spfld. Gas Light (par $25) $3 44 1/2 45 1/4 Springfield Rys pr ........ 4 50 .. Turners Falls Power ........ 6 103 .. United Electric Light .. 12 233 236 Industrials and Miscellaneous Berkshire Cotton ........ 10* 143 .. Bigelow Hartford, com. .. 8 158 160 do pref ........ 6 113 .. Bowles Lunch Inc pr ........ 7 95 .. Chapman Valve, com. ........ 8 148 .. do pref ........ 7 102 .. Chemical Paper pr ........ 7 95 .. Consol Dry Goods com ........ 50 .. Consol Dry Goods, pf ........ 7 92 97 Crocker McElwain pref .. 7 98 .. Draper Corp. ........ 12 163 .. Dwight Manufacturing ........ 6 88 .. Eaton, Crane & Pike, pf.. 7 100 102 1/2 Eaton, Crane & Pike, pf 8 div 116 .. Farr Alpaca ........ 8* 206 210 Fiberloid Co., pref ........ 7 90 93 Fisk Rubber 1st pref ........ 43 .. Greenfield Tap & Die pr .. 8 88 .. Greylock Mills ........ 10 150 .. Haydenville Co. ........ 5 95 .. Hendee Mfg., pref ........ 7 88 92 Hodges Carpet ........ 8 109 112 Holyoke Card & Paper ........ 6 155 .. Hoosac Cotton pref ........ 8 105 .. Ludlow Mfg. Assoc. ........ 8* 139 142 Lyman Mills ........ 12 168 176 Milton Brad. Co pref ........ 8 105 .. Moore Drop Forge pr ........ 7 90 98 Natl Equipment, com. ........ 4 6 do pref (par $50) $5 .. 60 Pack. Mch., com (par $50) $4 88 93 do pref ........ 7 98 .. Smith & Wesson, Inc. ........ 8 85 .. Spfld. Fire & Marine .. 16 283 .. Strathmore Paper, com. ........ 100 .. do pref ........ 6 100 .. U. S. Envelope, com. ........ 8 144 152 do pref ........ 7 110 .. W. Boylston Mfg., com. ........ .. 38 do pref ........ 8-ex 96 1/4 .. Westfield Mfg., com. ........ 3 40 .. do pr ........ 8 101 .. * Extras. Bonds Am. Bosch Magneto 8's '36 94 Amherst Gas Co 5's, '24 ........ 98 American Thread 6's 1920 100 1/2 Berkshire St Ry 7's, 1927 ........ .. Greenfield Gas Light 5's '37 93 Holyoke St. Ry. 5's, '35 ........ 80 Northampton Elec. Lt. Co 5's '27 .. N. E. Power Co., 5's 1952 95 Renfrew Mfg. Co. 7's, '37 ........ 93 Smith & Wesson Inc 5 1/2's '36 .. Spfld Gas Light 5's '25 ........ 97 Springfield St. Ry. 6's '40 ........ 93 do St Ry 7's 1940 ........ 98 Strathmore Pa Co 5's '32 99 Unit Elec Light Co 7's, '30 ........ 102 1/4 U S Whip 7's 1933 .. Wallace Realty Tr. 5's '52 98 1/4 Westfield River Paper 7's ........ .. * Extras.


Article from The Fargo Forum, Daily Republican, and Moorhead Daily News, December 30, 1924

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Article Text

Brophy Is Temporary Moorhead Bank Receiver Fred M. Brophy, Moorhead mortgage and bond dealer, was today being checked in as temporary receiver of the closed First State bank of Moorhead. He will serve while A. A. Haagenson of Barnesville, the regular receiver, is attending the 1925 session of the Minnesota legislature. Mr. Haagenson is senator from Clay and Wilkin counties.