Farmers & Merchants Bank (Wymore, NE)

Episode Information

Episode UID
76010371561
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
state
Bank ID
7601037 routing
Routing Number
76-0103
Start Date
January 25, 1930
Location
Wymore, Nebraska (40.122, -96.663)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0199ede3acede160

Response Measures

None

Description

Closure followed a quiet run that depleted cash; later voluntary receivership and liquidation confirmed permanent closure.

Events (4)

1. January 25, 1930 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals in recent weeks produced a quiet run that depleted the bank's cash and forced closure.
Newspaper Excerpt
The F. & M. Bank closed Saturday, January 25, after a quiet run, which depleted the bank's cash.
Source
newspapers
2. January 25, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Officers decided to close after heavy recent withdrawals left the bank unable to open; decision to turn institution over to the state and later seek receivership.
Newspaper Excerpt
Farmers' Merchants' State bank Wymore ... failed open doors this morning. ... The Farmers & bank of Wymore failed to open its doors for decision to turn the institution over to the state reached late Friday by the officers of the bank.
Source
newspapers
3. March 13, 1930 Receivership
Newspaper Excerpt
Officials of the closed Farmers & Merchants Bank of Wymore have entered voluntary appearance for receivership for the bank. their action coming Tuesday ... after unsuccessful negotiations ... the bank closed Saturday, January 25, after a quiet run, which depleted the bank's cash.
Source
newspapers
4. October 23, 1933 Other
Newspaper Excerpt
Under liquidation since January, 1930, the bank's residue at the sale had a paper value of $70,000 ... The final assets of the Farmers & Merchants bank of Wymore have been sold at auction ... for $1,600.
Source
newspapers

Newspaper Articles (8)

Article from The Grand Island Independent, January 25, 1930

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Article Text

FAILURE DUE Farmers' Merchants' State bank Wymore, near here, failed open doors this morning. president, said that withdrawals deposits over time, responsible. He said he not think the heavy December the bank's total assets and deposits banking departhas been informed that decided voluntarily close the bank but words has been from Lincoln. The closing Wymore with In the bank raided which bandits secured and insurance. The bandits fled in auto after shooting up the town terrify No believed here that the bandits members the Fleagle gang. One ago the bank's deposits Today they $170,000.


Article from Beatrice Daily Sun, January 26, 1930

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Article Text

BANK WYMORE CLOSES Heavy Withdrawal of Deposits Recently Force Officers To Decision EXPECT LOSS TO DEPOSITORS LIGHT The Farmers & bank of Wymore failed to open its doors for decision to turn the institution over to the state reached late Friday by the officers of the bank. There still remains bank in Wymore, the First Heavy withdrawal of deposits in recent weeks was as the cause the closing. president of the bank, said Saturday that he did not believe the depositors would suffer serious loss, but at this time is possible to guess what banking department will be able to for the At the time of closing the deposits $170,000. At the statement, December 1929, deposits were That statement showed also loans and discounts of bonds and securities, exclusive of cash reserve, $28,679.11, cash and sight exchange $31,687.97 and bonds cash reserve $3,000.00. The bank building was carried other estate was $8,976.97. Robbed In 1928 The bank had no borrowed money. One year ago its deposits officers of the bank were D. Oelkers, president; Oelkers, vice president; W. DawA. cashier, cashier. The officers and Adkins Cumro tuted the board directors. In 1928 the bank was robbed bandits never loss due the robbery was made up by the Ben of the Lewiston Beatrice ness visitor Saturday.


Article from The Weekly Wymorean, March 13, 1930

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Article Text

F. & M. RECEIVER Officers of Bank Enter tary Appearance For Receivership to Liquidate at Once Officials of the closed Farmers & Merchants Bank of Wymore have entered voluntary appearance for receivership for the bank. their action coming Tuesday. after unsuecessful negotiations carried on for some time in an effort to reorganize the bank, by the depositor's committee. The F. & M. Bank closed Saturday, January 25, after a quiet run, which lepleted the bank's eash. On January 30 at mass meeting of depositors held at the suggestion of the state banking department, committee of depositors was appointto the banking board in an effort to reorganize the bank. The committee has tried several plans to keep the bank out of the hands of a receiver, but all have failed. At one time it was thought that arrangements could be made whereby the First National Bank might take over the bank, but negotiations failed. The bank officials, and the deposItor's committee came to the conclusion that receivership was unavoid able the first of this week. and the nction in asking a receivership followed.


Article from Beatrice Daily Sun, July 9, 1930

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Article Text

BABE SUSPENDED NEW YORK. July Ruth received three-day suspentoday the result of yesterday's with umpire Brick Owens. The Babe protested violently about the umpire's decision third strike against Charley Ruffing in the first game of yesterday's double header was ordered from the field. M. BANK RECEIVER FILES SUITS ON NOTES Two suits on notes have been filed Clarence G. Bliss, receivof the failed Farmers & Merchants bank Wymore. Gus Helmig made defendant suit on demand note for $980, made November 1929. upon which one payment of $60.80 credited. The other suit is against Albert Hogue and Charlotte Hogue, note for $192 made August 1929. Plaintiff asks GO TO ASHLAND Captain Dean Coonley announced Wednesday that Company will entrain on the mornAugust for the annual weeks at Ashland. On Saturday evening the boys will leave the city by motor trucks for an all-night hike and early morning battle maneuvers. Captain their destiwould be kept secret. PIER COLLAPSES PENNS GROVE, July persons the Wilson line pier here when feet collapsed last night were believed today to have been accounted for. Two of the number, Jennie Holmes. 63. and liam Scott both of Grove. are in hospital.


Article from The Beatrice News, July 11, 1930

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Article Text

DISTRICT COURT July 3, Frances Rains VS Robert O. Rains, divorce action. July 3, In matter of the application of the Church of the United Brethren in Christ of Beatrice, for authority to encumber church property July 3, Clarence G. Bliss, secy Dept. Trade and Commerce, of St. of Nebr., as receiver of Security Savings Bank, et al VS Beatrice Riverside Park Co., et al, foreclosure of mortgage. July 7, Clarence G. Bliss VS Mary Mattocks et, al, motion. July 7, State vs Charles Fulton, violation liquor law, information. July 7, State vs George Huckett, arson, information. July 7, State VS Fred A. Wright, violation state banking law, information. July 8, Norcorss vs Jakl, et al, foreclosure, voluntary appearance and disclaimer. July 7, State of Nebr., ex rel C. A. Sorenson, atty gen. VS Hinds State Bank, petition in intervention of Gage County. New Cases Filed July 9. Clarence G. Bliss, rec. of Farmers and Merchants Bank of Wymore, Nebr., vs S. Albert Hogue and Charlotte Hogue, suit on note. July 9, Clarence G. Bliss, rec. Farmers and Merchants Bank of Wymore, Nebr., vs Gus M. Helmig, attachment. July 9. Myra E. Sumner vs. Warren E. Sumner, divorce.


Article Text

BLISS LOSES RECEIVERSHIPS OF FOUR BANKS Judge Orders Transfer to Secretary Luikhart TURNS DOWN STATE PRO-RATA PROPOSAL District Judge Fred W. Messapproved the transfer the of the four failed state banks in the Eighteenth judicial district from Clarence Bliss H. Luikhart, secretary of the state department trade and The affected the affairs of the Hinds State bank of Odell, the State bank. the Farmers Merchants bank Wymore and the Farmers State bank of Adams. The hearing, which was featured by review of final reports receivership the former state bank receiver and by arguments in respect to allowance of costs, came yesterday as sequel to an earlier one held at with Judge Messmore presiding, in which Bliss made an unsuccessful attempt to maintain the post from which Governor to reject Though Bliss of his duties, Judge ed Bliss' contention that the affairs of bank within the of the judiclary and not the executive department. Too Expensive Judge Messmore ruled that entitled reasonable fees and expenses for work performed Bryan ordered removal, refused to accept the state's proposition for prorated expenses. The Eighteenth judicial district, he would pay its own expenses and have the affairs in other districts. only here, belief penses would prove costly to district. He allowed Bliss time to his expense and gave the state contest it formal hearing later. The state department was represented Judge C. Radke while M. Skilen was counsel for Bliss. At Grand Island GRAND Nebr., Sept. 12. receivership transfers of nine failed state banks from Clarence G. Bliss, former trade department secretary, to H. Luikart, present secretary, was ordered today District Judge Ralph R.


Article Text

Assets Of Wymore Bank Disposed Of (Special to The Star.) BEATRICE, Neb., Oct. 23โ€” The final assets of the Farmers & Merchants bank of Wymore have been sold at auction at the court house here to C. G. Barer of Odell for $1,600. Under liquidation since January, 1930, the bank's residue at the sale had a paper value of $70,000 of which $60,000 was in notes. Another sizeable item was a first mortgage on a Hayes county half section for $3,000. Judgments under receivership totaled $3,610.


Article Text

Court House Notes Week of December 4 to 9 New Cases Filed In District Court C. D. Clements VS. Gage County, Appeal. Attorneys for plaintiff, Rinaker & Delehant, M. S. Hevelone. D. Z. Mummert vs. Gage County, Appeal. Attorneys for plaintiff, Rinaker & Delehant and M. S. Hevelone. Glenn Miller VS. Mabelle MillerDivorce. Hubka & Hubka, attorneys for plaintiff. (In his petition the plaintiff charges abandonment. The couple were married at Fullerton, Nebraska, in 1923, and are the parents of one child. After the birth of the child, according to the plaintiff, Mrs. Miller left with the child and has since resided with her mother in Iowa. In his petition the plaintiff suggests that the child be left with Mrs. Miller, who in his opinion, is a fit person to have its eustody and control. However, he is asking that he be allowed the privilege of seeing the child at stated intervals). The Home Savings & Loan Association of Beatrice, Nebraska, a corporation, VS. Henry R. Price and Elizabeth A. Foreclosure of mortgage. Attorneys for plaintiff, Rinaker & Delehant and M. S. Hevelone. The State Savings & Loan Association vs. G. W. Mathews and Margaret B. Mathews-Foreelosure of mortgage. Attorney for plaintiff, A. H. Kidd. The Wymore Building & Loan Association of Wymore, Nebraska, a corporation, vs. George R. Cooper, Nannie Cooper and J. Perry Philben Foreelosure of Mortgage. Attorney for plaintiff, C. B. Ellis. The Wymore Building & Loan Association, of Wymore, Nebraska, a corporation, VS. Grace M. Fulton, Ralph E. Fulton and Lester G. Antram-Foreclosure of mortgage. Attorney for plaintiff, C. B. Ellis. Lulu Standley VS. Fred W. Buckley-$11,617.00 damages. Attorneys for plaintiff, Killen & VanBorkum. Alma B. Crocker vs. Lloyd Owen -Suit on note. Attorneys for plaintiff, Rinaker Delehant and M. S. Hevelone. Vivian Bickell vs. Albert E. Kruegรชr, et al-Cancellation of deed. Attorneys for plaintiff, Jack & Vette. Two Beatrice residence properties were disposed of at a sheriff's sale this week to satisfy mortgages which were held by the State Savings & Loan Association of Beatrice. The Warren Funk place brought $500 against an eneumbrance of $555.60, the bid being made by the State Savings & Loan Association. A defieiency judgment for $119.16 was asked. The other place was in South Beatrice, formerly belonging to Goldie Hohenfeldt. The property brought $475, the Loan Association being the bidder. The eneumbrance was $1,517.12. Preparations were completed last Thursday at the Court House for the removal of the Gage County Emergency Relief and Employment headquarters to a new location. Since the organization of the office the headquarters have been on the first floor of the court house in a small room adjoining the Register of Deed's office. They have been moved to the second floor on the south side County Superintendent Miller's office. The space has been occupied for several years by the county superintendent as a special room for examinations and supplies. It is much more commodious than the committee's present headquarters. A county school examination room will be established on the third floor of the court house. Friends of Mrs. T. J. Sullivan, wife of County Clerk Tim Sullivan, will be glad to know that she has nearly recovered from a serious illness which has kept her in a Beatrice hospital for the past few months. She left the hospital for home several weeks ago but it was afterward found necessary for her to return. She has been ill since last June of a blood infection. During the summer and autumn her relatives and friends volunteered for numerous*blood transfusions. Friends of the family at Beatrice and at Cortland, their former home, all over Gage County, in fact, will be greatly relieved to learn that she is now definitely on the way to recovery. D. Z. Mummert, of Blair, and C. D. Clements, who purchased tax certificates issued by error on approximately 200 acres of state owned farm land east of Beatrice, and were then refused their money back by the county board, have appealed their case to the District Court. The filings were made Tuesday. Back in 1928 the state purchased the land from O. H. Liebers for institution farm purposes, which antomatically exempted from taxation. However, former County Clerk Roy Mumford overlooked the removal of the property from the tax books, according to the appellants, and subsequently they bought the tax certificates from former county treasurer, E. F. Wilt. The county made the usual distribution of the proceeds of the sale, apportioning the money to the state, county, township and school district and the same has been spent and in the opinion of the county board is irrecoverable. Mummert and Clements filed their claims for $289.38 and $86.20 against the county irrespective of the participation in the apportionment of the tax sale money by the other tax receiving institutions, and the county rejected the claims. On Friday morning suit against 1X stockholders in view of their liability for a portion of the bank's debts was asked by E. H. Luikhart of the state banking department in his receiver's report to the District Court in the liquidation of the Farmers & Merchants Bank of Wymore. D. Oelkers, W. C. Oelkers, E. E. Chamberlin, Clara McAdams, L. N. Adkins and W. A. Dawson were named as the stockholders against whom the action is requestd. Luikhart listed the claim and diability of the bank at $175,317.34 of which $124,132.41 has been paid through liquidation of the bank's assets. With all of the assets exnausted, the unpaid claims amount to $61,611.12. The bank was capitalized at $35,000 through the issue of 350 shares of stock at $100 par value. Some of the stockholders have paid the 100 per cent assessment provided by law. The six stockholders mentioned in the report have not responded to the assessment in full and most of them in no part. The employment relief committee for Gage County has been confronted with a problem this week which has added to the numerous difficulties which it has experienced during its recent weeks of service. The county committee and local official have been busy with the CWA program, the understanding being that men then on the unemployed listover 400 of them in the countyW( be given jobs. However, during the past few days 315 mennever before on the list of unem-