Fidelity State Bank (Aurora, NE)

Episode Information

Episode UID
76010071593
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7601007 routing
Routing Number
76-0100
Start Date
September 8, 1932
Location
Aurora, Nebraska (40.867, -98.004)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e34e5255ac5b554c

Response Measures

None

Description

Receiver E. H. Luikart was appointed and litigation over receiver actions followed; no run is described.

Events (3)
1. September 8, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank described as failed/insolvent leading to closure and receivership appointment.
Newspaper Excerpt
DEPOSITORS WANT TO NAME OWN BANK RECEIVER Aurora, Neb., Sept. 9, (AP)A group of depositors in the fiailed Fidelity State bank here yesterday filed an action ...
Source
newspapers
2. September 24, 1932 Receivership
Newspaper Excerpt
District Judge Landis signed an order permitting them to withdraw their names as objectors and with no protests before court. signed an order making Luikart receiver.
Source
newspapers
3. May 18, 1934 Other
Newspaper Excerpt
Aurora. Fidelity State Bank, $49,675.
Source
newspapers

Newspaper Articles (11)
1. September 9, 1932 North Platte Daily Telegraph North Platte, NE

Article Text

EARLY GAINS CANCELLED BY PROFIT TAKING New York, Sept. 9, (AP)Stocks ran into profit taking this afternoon and earlier gains of 1 to 3 points in most active shares were either sharply mod- ified or lost. Some leaders finished lower. U. S. Steel and American Tele. phone gave up 2 point advances. American Can backed up substantially after 3 point rise. National biscuit, Westinghouse and several coppers were heavy, losing 1 to 2 points. Rails; which had moved forward briskly, yielded much of their gains. Transactions approximated 3,900,000 shares. DEPOSITORS WANT TO NAME OWN BANK RECEIVER Aurora, Neb., Sept. 9, (AP)A group of depositors in the fiailed Fidelity State bank here yes. terday filed an action in district court asking appointment of a local receiver instead of E. H. Luikart, secretary of the state trade and commerce department. faculty members. "Here are the results on the movement to date. (And they have been accompanied by no financial gains, for football alone pays its own way.) "The number of competing athletes in intercollegiate sports has been multiplied by four. The department of physical education reports gains in the same proportion. Formerly it was hard to get students interested in gym, but now not only has the interest increased four-fold among the freshmen, but upperclassmen are trying to get into plebe classes. "The superlative athletes, thru the broadened intercollegiate program, are competing against the best of other schools, while the others are competing against students of like skill in whatever sport they choose. Children /are picking up weight under menu sponsored by Toledo welfare dietitians.

2. September 9, 1932 North Platte Daily Telegraph North Platte, NE

Article Text

EARLY GAINS CANCELLED BY PROFIT TAKING New York, Sept. 9, (AP)Stocks ran into profit taking this afternoon and earlier gains of 1 to 3 points in most active shares were either sharply modified or lost. Some leaders finished lower. U. S. Steel and American Tele. phone gave up 2 point advanc. es. American Can backed up substantially after a 3 point rise. National biscuit, Westinghouse and several coppers were heavy, losing to 2 points. Rails; which had moved forward briskly, yielded much of their gains. Transactions approximated 3,900,000 shares. DEPOSITORS WANT TO NAME OWN BANK RECEIVER Aurora, Neb., Sept. 9, (AP)A group of depositors in the fiailed Fidelity State bank here yesterday filed an action in district court asking appointment of a local receiver instead of E. H. Luikart, secretary of the state trade and commerce department. faculty members. 'Here are the results on the movement to date. (And they have been accompanied by no financial gains, for football alone pays its own way.) "The number of competing athletes in intercollegiate sports has been multiplied by four. The department of physical education reports gains in the same proportion. Formerly it was hard to get students interested in gym, but now not only has the interest increased four-fold among the freshmen, but upperclassmen are trying to get into plebe classes. "The superlative athletes. thru the broadened intercollegiate program, are competing against the best of other schools, while the others are competing against students of like skill in whatever sport they choose. Children are picking up weight under a menu sponsored by Toledo welfare dietitians.

3. September 24, 1932 Lincoln Journal Star Lincoln, NE

Article Text

LUIKART AND RADKE DECLINE TO TESTIFY Contend Aurora Bank Case Is Closed—Adams May Ask They Be Cited. Late Saturday afternoon Attorney Adams said he would not ask that Luikhart and the other witnesses be cited to appear before the notary, but he did not consider the case closed. Notary Mockett said if he granted a continuance of the hearing it would be until Oct. 3. Whether E. H. Luikhart, secretary of the department of trade and commerce, his department attorney, F. C. Radke, and Carl G. Stoll, chief of the bank receivership division and other assistants are subject to punishment for contempt for not giving testimony by deposition before Notary E. R. Mockett of Lincoln, was undetermined Saturday. The witnesses named by Attorney Charles F. Adams of Aurora did not testify before the notary, but Attorney Radke appeared and stated that the case originating in Hamilton county was ended, that the objectors to appointment of Secretary Luikhart as receiver of the Fidelity State bank of Aurora had withdrawn their names, that Judge Landis of the district court, at his home at Seward had permitted the withdrawal of the objections and had appointed Mr. Luikhart as receiver, and there being no case pending against Luikhart's appointment the hearing for taking depositions should be continued until Radke could obtain an order from the district court to the effect that there should be no depositions taken. It had been planned by Attorney Adams to ask for the appointment of some one other than Luikhart for receiver and to ask Luikhart to tell the notary how much he paid in his monthly payroll in the receivership division, a pay roll which Luikhart has refused to make public, and to give other costs of bank receiverships. Notary Mockett said he had no proof of the statement of Radke concerning withdrawal of objectors to Luikhart's appointment, the files of the case not being presented to show the order of Judge Landis. (Continued on Page 5.)

4. September 25, 1932 Omaha Sunday Bee-News Omaha, NE

Article Text

SUIT BLOCK LUIKART FAILS tempt block appointment of E. H. Luikart, secretary of the state department of trade and commerce, as receiver for the Fidelity State bank failed Friday when state banking department attorneys came into court with affidavits of persons in whose name the protest against Luikart had been made saying the filing was without their permission District Judge Landis signed an order permitting them to withdraw their names as objectors and with no protests before court. signed an order making Luikart receiver. LINCOLN, Sept. 24. (P)-Franz Radke. attorney for the state banking department. Saturday resisted an effort to take depositions from department officials as to the expense of administering affairs of the Fidelity State bank of Aurora on the ground the case in which the depositions had been asked was closed. R. S. Mockett. notary before whom the depositions to be taken, took Radke's application for continuance under advisement. Charles F. Adams. Aurora attorney. who sought the depositions and who had filed the action in Hamilton county protesting Luikart's appointment as bank receiver. protested that the action of the Hamilton county district court Friday was done in secrecy and therefore void.

5. October 2, 1932 Omaha Sunday Bee-News Omaha, NE

Article Text

MOTION HEARD ON BANK RECEIVER AT AURORA SEWARD, Oct. 1. (IP)-District Judge Landis Saturday heard arguments here on motion asking that the order appointing E. H. Luikart as receiver for the failed Fidelity State bank of Aurora, be vacated. The judge took the matter under advisement.

6. November 29, 1932 The Grand Island Independent Grand Island, NE

Article Text

RECOVERS FROM EFFECTS OF BLAST Tekamah, Neb., Nov. 29. (AP)—John Criss, Tekamah, is recovering from injuries suffered when a mixture of potash and sugar, used in blasting trees, exploded prematurely. Criss was blown 50 feet by the blast. Lloyd Robinson, working with him, was blown 20 feet but was not seriously injured. RESIGNS FROM POST Aurora, Neb., Nov. 29. (Special)—Howard Doty, assistant to E. H. Luikart, receiver for failed banks, who has been in charge of the Fidelity State bank at Aurora since Aug. 15, has resigned as assistant receiver and has taken a position with the Regional Agricultural Credit corporation of Omaha. Mr. E. E. Ruzicka, also assistant receiver, who has been in charge of failed banks at Bee and Dwight, Neb., will be in charge of the Fidelity State bank just as soon as arrangements can be made for the change.

7. February 24, 1933 Aurora News-Register Aurora, NE

Article Text

to be restored to the assets of the closed institution. All of the towns and schools involved will await for the result of the litigation with a very direct interest, but while they wait the funds will be tied up and not available for any purpose. That the Fidelity State Bank, Aurora, Nebraska was during all of the times material to this action a duly organized and existing banking corporation under the laws of the State of Nebraska. (continued on page 8) a great many friends. Last summer the other small daughter, Irene, was severely injured by a car on the street near the home and was under treatment at the hospital for a long time. The family is receiving the sympathy of all their neighbors. Those from a distance who came to the funeral service were Mr. and Mrs. L. B. Denton, of Alliance, Mrs. George Jeffers, of Cheyenne, Wyoming; Mr. and Mrs. Roy Owen, of Kearney, and Mr. and Mrs. L. J. Schnase of Lincoln.

8. March 17, 1933 Aurora News-Register Aurora, NE

Article Text

Bank Case Heard In District Court Before the adjournment of the district court last week all of the evidence in the case of Luikart receiver, against the City of Aurora had been heard. As has been previously stated in the newspaper the suit is brought by the state banking board to recover certain bonds and securities pledged by the Fidelity State bank as security for deposits of city funds. The same kind of situation prevails as to the Aurora city school district funds, the village of Giltner and the Giltner school district, except in these later three cases the amount involved is much less. The state banking board claims that the officers of the bank had no legal right to pledge any of the bank's assets for the purpose of securing deposits. The city of Aurora had about twenty-nine thousand dollars on deposit in the bank at the time it closed and bonds in amount sufficient to safeguard these deposits were held in trust by third parties. Both the city and the state banking board made formal demand for these securities, the bank holding them declining to surrender them to either party until the courts have made an order in the case. The Aurora city school district had about fifteen hundred dollars in the bank, with pledged securities to cover the amount.

9. July 20, 1933 The Grand Island Independent Grand Island, NE

Article Text

Points Out That Bank Has Benefit of Deposit and the Receiver Not Entitled To Avoid Contract Executed by Bank When Sound. Lincoln, July 20. (AP)—The right of second class cities to secure their deposits in state banks by having the banks pledge their assets instead of furnishing bond was upheld today by the Nebraska supreme court. E. H. Luikart as receiver for the Fidelity State bank of Aurora had appealed from a decision of the Hamilton county district court denying the receiver's right to $17,000 of the bank's assets which had been deposited in the Omaha branch of the Federal Reserve bank to secure city of Aurora deposits. "In this case," the court said, "the bank has had the benefit of the deposit and the receiver is not now entitled to avoid the contract executed by the bank while solvent, in which the assets of the bank were pledged to secure the deposits of the city. "There is no statute prohibiting either directly or by implication of such a pledge of assets." The opinion pointed out that the state, county and first class cities under a specific provision of the statute could obtain a pledge of assets as security. Luikart had argued that without express authority second class cities could not do so, but the court called attention to a law authorizing collection of funds under contracts. It held the city had so contracted with the bank and the state department of trade and commerce raised no objection to such pledging of assets. Half a dozen cities filed briefs in the court as friends of the court and state banking department officials said hundreds of thousands of dollars would go to cities or to depositors depending on the outcome of the Aurora case used to test the law.

10. July 20, 1933 Norfolk Daily News Norfolk, NE

Article Text

SECURE SUPREME COURT RULES DAY IN FAVOR OF CITIES OF SECOND CLASS BROWN COUNTY WINS SUIT Commissioners' Action In Refusing Claims Endorsed but Assigned for Lacking Sufficient Chided Interest Lincoln, July right of second class cities their deposits in state banks the banks pledge their bond assets upheld today by the Nebraska supreme court. Luikart receiver for the Fidelity State bank of Aurora from decision the appealed Hamilton county district court dethe receiver's right to $17.nying the bank's assets which been deposited in the Omabranch the federal reserve bank secure city of Aurora posits. Had Benefit of Deposit this case," the court said. bank has benefit and the receiver not deposit entitled to void the contract the bank while solwhich the assets the vent pledged to secure the bank deposits no statute prohibiting either directly by implication pledge of assets." The opinion pointed out that the state, county and first class cities under specific of the statute could obtain pledge security. Luikart had that without express authority second class could not do but court called attention law authorizing collection funds under held the city had contractthe bank and the state partment trade and raised objection to such assets. Many Interested Half dozen cities filed briefs the court friends of the court thousands dollars would cities depositors depending on the outof the Aurora case used test the The court today also approved the action of Brown county commissioners refusing to allow $22,016 assigned claims of HarWoods, Brown county trea although the county failed file brief the When took office found his predecessor had paid county salaries out of balances sinking funds and taken assignments which the funds would repaid. He continued pracuntil examiners for the state auditor objected in June 1931. Was Without Authority then filed the assigned claims the county board rejected them and went to the courts. Both supreme treasurer withauthority handle the funds that manner, salaries when the county general unable to furnish the funds. The court's opinion commented failure of Brown county, fendant the case, think that involving important question expendipublic funds," the opinion said, deserving attenthe part of the county of

11. May 25, 1934 Star-Herald Scottsbluff, NE

Article Text

FAILED BANKS GET R. F. C. CASH LOAN Washington, May 24. (P)-Receivers of closed Nebraska banks were' authorized to borrow $2,022,653.43 from the Reconstruction Finance corporation between February 2, 1932, and May 18, 1934, Jesse H. Jones, chairman, reported today. The largest individual loan authorized in Nebraska was $175,000 to the Farmers State Bank of Columbus. The Farmers State Bank of Kearney borrowed $141,750. and the Norfolk National bank received $130,000. Besides the loans to closed bank receivers, the RFC also authorized a loan of $50,000 to the Fremont Mortgage company. The table of loans to closed bank receivers includes Auburn. First National Bank of Auburn. $26,000 First National Bank of Auburn. $23,000. Aurora. Fidelity State Bank, $49,675. Columbus, The Commercial National Bank Columbus, $60,000; Farmers State $175,000. Fremont, The Union National Bank of Fremont, $85,000. Holdrege Phelps County Bank, $50,000. Hooper, Hooper State Bank, $40,000. Litchfield, The First National Bank of Madison. The First National Bank of Madison, $83,000. McCook Farmers & Merchants State Bank, $26,000. Norfolk, The Norfolk National Bank, $130,000 Platte Center, Platte County Bank, St. Edward The Smith National Bank of St. Sterling, First State Bank. $31,000. West Point. The Point National Bank, $50,000; West Point National Bank,