Banking House of F Folda

Episode Information

Episode UID: 76012971598
Episode Type: Run → Suspension → Reopening
Bank Type: state
Bank ID: 7601297 routing
Routing Number: 76-0129
Start Date: February 3, 1933
Location: Schuyler, Nebraska (41.447, -97.059)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 12fbae0614524699

Response Measures

None

Description

Reopening authorized under Nebraska's new moratorium act.

Events (3)

1. February 3, 1933 Run

Cause Details: Heavy withdrawals (run) in the hours preceding Feb 3 closure; no specific trigger stated.
Measures: Depositors later signed moratorium agreements; old accounts set aside pending orderly liquidation.
Newspaper Excerpt: the Folda bank closed its doors at 10 a. m. February 3, after heavy withdrawals had occurred during the previous hours.
Source: newspapers

2. February 3, 1933 Suspension

Cause Details: Bank closed following heavy withdrawals (temporary suspension under state moratorium law).
Newspaper Excerpt: the Folda bank closed its doors at 10 a. m. February 3
Source: newspapers

3. February 9, 1933 Reopening

Newspaper Excerpt: The reopening of the Banking House of F. Folda at Schuyler, Nebraska's largest State bank, was announced today by the department of trade and commerce.
Source: newspapers

Newspaper Articles (1)

1. February 9, 1933 The Grand Island Independent Grand Island, NE

Article Text

Banking House Of Folda Will Reopen Doors Ninety-Five Per Cent of Depositors Sign Moratorium Agreement Lincoln, Feb. 9. (AP)—The reopening of the Banking House of F. Folda at Schuyler, Nebraska's largest State bank, was announced today by the department of trade and commerce. It was the tangible result of the state's new moratorium act which went into effect a week ago. New deposits received by the bank will be subject to check and withdrawal but the old accounts will be set aside pending orderly liquidation. The Folda bank closed its doors at 10 a. m. February 3, after heavy withdrawals had occurred during the previous hours. On its books at that time were $567,000 in deposits, or about $1,000,000 less than two years before. Five hundred of the 1,700 depositors braved 12 below zero weather Monday night, three days after the closing, and most of them signed agreements to abide by the provisions of the moratorium act. Ninety percent of them, or 5 percent more than required under the new law, have signed now and commerce department officials believe the total will be 97 percent. The officers felt sure that the bank could have opened Tuesday had the storm not kept depositors from signing agreements quickly. The Banking House of F. Folda was founded in 1887. The president, E. F. Folda, who makes his home in Omaha now and is inactive, has been connected with the bank since its founding. Jaroslav Folda, the cashier, and Miss Bertha Folda, his assistant, have been with it 30 years. They will remain in the bank under the new set-up. E. H. Luikart, secretary of the department of trade and commerce, said in making the announcement that: "If this new enactment serves no other purpose than to protect the depositors of this single institution, it has vindicated the wisdom of the governor, the members of the legislature, and state officials who were responsible for the enactment thereto."