gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
fef571c2cde721d5
Response Measures
None
Description
OCR errors in source texts corrected (e.g., 'Mitchell State' rendered as 'Mitchell state bank' or with missing words).
Events (4)
1.January 1, 1928*Suspension
Cause
Government Action
Cause Details
Bank failed to open in January 1928 and the Nebraska State Guaranty Fund Commission took possession and operated the bank.
Newspaper Excerpt
when the bank failto open its doors. The Nebraska State Guaranty Fund commission took possession the bank that time
Source
newspapers
2.February 17, 1929Other
Newspaper Excerpt
Fred Bellamy ... to recover some that he had deposit there January, 1928, when the bank failto open its doors. The Nebraska State Guaranty Fund commission took possession the bank that time, have continued and operated since then as going bank.
Source
newspapers
3.August 29, 1930Receivership
Newspaper Excerpt
Torgeson will take over seven banks located at Bridgeport Bayard, Lyman, two at Mitchell. Scottsbluff and Minatare. He is now receiver of eleven failed banks in his district.
Source
newspapers
4.October 29, 1931Receivership
Newspaper Excerpt
American bank and Mitchell State, Mitchell; Lyman State, Lyman: State bank, Bank of Bayard at Bayard; Nebraska State at Bridgeport.
Source
newspapers
Newspaper Articles (11)
1.February 17, 1929Star-HeraldScottsbluff, NE
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Article Text
BELLAMY SEEKING RECOVERY OF SUM IN DEFUNCT BANK
Local Man Declares Promise of Payments Not Carried Out by Bank Receiver.
Fred Bellamy of this city has filed suit district court against the Mitchell State of Mitchell, the Nebraska State Bank GuaranFund commission, to recover some that he had deposit there January, 1928, when the bank failto open its doors. The Nebraska State Guaranty Fund commission took possession the bank that time, have continued and operated since then as going bank. During this time "they only been able to pay one installment, amounting to per cent,' Mr Bellamy, have made numerous promises of additional payments but failed to make them good.' Mr Bellamy now going enjoy the privilege asking the money justly due him from the State Guaranty
2.August 16, 1929Star-HeraldScottsbluff, NE
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Article Text
Depositors in Failed Bank Gather Saturday meeting depositors of the funct Mitchell state bank has been called for eight o'clock Saturday ning the city hall in Mitchell, by the committee charge. Only those were depositors the failed institution admitted the understood.
3.August 29, 1930The Poultney JournalPoultney, VT
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Article Text
Judge Carter Accepts the Resignation Of C. G. Bliss
District Judge Carter Monday accepted the resignation of Clarence G. Bliss, former secretary of the state department of trade and commerce, as receiver of seven defunct state banks in western Nebraska. This action was taken during the present session of district court at Gering. A. E. Torgeson of Scottsbluff, assistant to the receiver, was named to the position vacated by Bliss. Torge son filed bonds immediaely after his appointment. Application of E. H. Luikart, presene secretary of the commerce department, for appointment as receiver was previously denied by Judge Carter. Like action was taken by Judge Meyer of this district some time ago. Their reason is said to be unwillingness to transfer receiverships to Luikart until they are assured of no interference from Governor Bryan. According to the state law, the commerce department secretary shall be receiver of failed state banks. However, the transfer to the present Becretary is still before the courts in several districts. Torgeson will take over seven banks located at Bridgeport Bayard, Lyman, two at Mitchell. Scottsbluff and Minatare. He is now receiver of eleven failed banks in his district.
4.October 29, 1931The Western Nebraska ObserverKimball, NE
Article Text
ART TORGESON SUCCEEDS BLISS AS BANK RECEIVER
Arthur Torgeson, brother of Atty. Torgeson of this city and forbank employe here, will succeed H. Bliss as bank receiver in this district. special from Gering says: Bliss, former secretary of trade and commerce, presented his final report and resignation as receiver for seven defunct state banks in the Seventeenth judicial district to Judge Carter here Tuesday. Torgeson of Scottsbluff appointed to succeed Bliss as The defunct banks involved in Tuesday's reports are Irrigators', Scottsbluff; American bank and Mitchell State, Mitchell; Lyman State, Lyman: State bank, Bank of Bayard at Bayard; Nebraska State at Bridgeport.
5.November 6, 1931The Sidney TelegraphSidney, NE
Article Text
Seven Institutions That Have Closed Doors SUCCEEDS BLISS WHO WAS UNSEATED
The resignation Clarence G. Bliss, former secretary of the partment of trade and commerce, received for seven failed banks in western was accepted Wednesday by District Judge Carter at Gering and the appointment of Torgeson of Scottsbluff succeed Bliss confirmed. Bliss filed his final reports October His resignation was ed in district court Benyon, former attorney for the banking partment. Banks which Bliss control Nebraska State bank, Bridgeport; Bank of Bayard, Lyman state Mitchell State rigators bank Scottsbluff; Ameribank, State Bank of These defunct institutions all located in the 17th judicial district. the district Luikart, present secretary of the trade and commerce, had asked control in an application for appointment receiver filed at (Continued on page
6.November 26, 1931The Scottsbluff PioneerScottsbluff, NE
Article Text
Luikhart Files Suit To Oust Torgeson as Failed
More fireworks broke out this week in the defunct bank situation in westNebraska, when word was received that E. H. Luikart and Gov. Bryan were filing suit to have Torgeson removed as receiver eleven failed banks in western Nebraska. Torgeson was appointed by Judge E. Carter some time ago. The Governor charges that Torgeson has received more pay than any other bank receiver, and that such excess salary must come out of the depositors' share of recovered funds in failed banks. further declared that banks in of the state would not pay out percent under Torgeson. Mr. Torgeson states that he will be glad to have an investigation of his management of failed banks. He cites several instances where banks he has handled have paid out considerably more than that, as follows Irrigators, Scottsbluff, 57 per cent; American State, Scottsbluff, 58.25; American bank, Mitchell, 50; Bank Bayard, Bayard, 50; Nebraska State, Bridgeport, 55.9; Mitchell State, Mitchell, 35.5; Lyman, 17; State Bank. of Minatare, Minatare, Bridgeport bank, Bridgeport, 16 per cent.
7.December 1, 1931The Alliance Times-HeraldAlliance, NE
Article Text
RECEIVER ISSUE TO THE SUPREME COURT
State Bank Department Protests the Appointment of Torgeson by District Judge
Right of a district judge to appoint a man other than the secretary of the state department of trade and commerce as receiver for a failed state bank was placed before the Supreme court Tuesday morning when Governor Bryan's banking department appealed from refusal of District Judge Carter to name E. H. Luikart as receiver for five failed banks in Scotts Bluff county. The five banks, State bank of Minatare, Mitchell State bank, Irrigator's bank, Scottsbluff. Lymar. State bank and American bank, Mitchell, were ones in which Judge Carter appointed A. E. Torgeson as receiver instead of Luikart. The western judge discharged Clarence G. Bliss as receiver following submission of final reports but denied the application of Luikart for appointment as receiver. Torgeson, who had been assistant receiver of the banks, and who was held by the court to be familiar with their affairs and competent to administer the receiverships, was named instead.
8.January 9, 1932Lincoln Journal StarLincoln, NE
Article Text
RECEIVER OPENS SUIT
E. E. Torgenson Asks $98,000 From J. Whitehead of Mitchell.
SCOTTSBLUFF. Torgeson, receiver for the Mitchell State bank, started suit in district court here Friday against Whitehead, former president, for Torgeson alleged that as the person actual charge declared solvent, Whitehead made unsecured loans to persons he knew were insolvent and that made loans in excess of the legal limit. Torgeson totaled these loans and that except for $5,000 already paid they are worthless. petition has been forwarded by Torgeson also to the district court at Lincoln asking $29,000 from the state department trade commerce on behalf the defunct Bridgeport bank. The amount represents assessments made during two year period when the institution was operated by the guaranty fund commission and proceeds which were placed in the bankers' conservation fund.
9.April 16, 1932Lincoln Journal StarLincoln, NE
Article Text
POWER TO SELECT BANKS' RECEIVERS
Legislature Held to Have Overstepped Powers in Enacting Law.
Declaring that the imperative duty the judicial department of government to protect its jurisdiction. at the boundaries power fixed by the constitution and that the naming of state bank judicial function which exercised or trolled the governor or legislature, supreme Saturday upheld the action of District Judge Carter Morrill in refusname H. Luikart, secretary trade commerce, receiver for Mitchell State bank, Irrigators bank Bridgeort, Lyman State bank, State bank of Scottsbluff, State bank Bridgeport, State Bank of Minatare, and Bank of Bayard. Justices Paine and Day dissented. The court, an opinion written Justice Rose, that legislative act providing that the secretary trade commerce shall be the receiver of all insolvent state banks amounts no more than judicial proceedproperly pending court equity liquidation of bank, than legislative recommendation to the judiciary to point him, otherwise the enactment an encroachment on judicial power. Judge Carter Named Torgeson. Judge Carter was the only district judge who refused name Luikart, when the latter succeeded Bliss. He appointed Torgeson, who been assistant ceiver under Bliss, the ground that having had actual charge liquidation of these seven banks better position serve all interests than Luikart, name one to handle their The court points out in its sion that the statutes nowhere provide for the liquidation of state banks invoking the judicial power the state, the has granted any officer, administrative board, or tribunal (Continued on Page 8.)
10.April 16, 1932The Lincoln StarLincoln, NE
Article Text
"In a pending cause, the chief executive and the legislature cannot change or modify judicial orders or lawfully require the court to do so. A judicial order in pending litigation does not change with political fortunes or legislative acts or executive appointments."
Outlining the separation of powers in both the federal and state governments, Judge Rose wrote that it is imperative that the judicial department of the government protect its jurisdiction at the boundaries of power fixed by the constitution.
Quasi Public Business.
Judge Paine, however, in his dissenting opinion argued that banking is a quasi public business which the state may control as it sees fit and that the legislature had authority to provide any means of liquidating insolvent state banks.
The plan adopted by the 1929 legislature of liquidating failed banks with a state official as receiver brought order out of chaos, reduced the expense of liquidation, and need be considered no limitation on judicial power, Judge Paine held.
"The old plan of individual receiverships under individual district judges having been tried and found wanting, the new plan promises a great improvement," he wrote, "and should not in these times of distress, be hampered by any undue jealousy on the part of the judiciary for fear its right may be infringed upon." He urged that the judiciary should co-operate with the will of the legislature "to the great end that the depositors may receive the largest possible sum from a prompt, vigorous and efficient liquidation of banks by one responsible person, to-wit, the secretary of the department of trade and commerce."
The seven banks for which Torgeson had been named receiver and in which the appointment was upheld Saturday were the State bank of Minatare, Mitchell State bank, Irrigators' State bank, Scottsbluff; Lyman State bank, American bank, Mitchell; Nebraska State bank, Bridgeport and the Bank of Bayard.
11.April 16, 1932The Omaha Evening Bee-NewsOmaha, NE
Article Text
COURT FIGHT LOST BY CASES
Decision Upholds Torgeson as Liquidation Officer in 17th District
LINCOLN, April 16, Nebraska supreme court Saturday sustained the action of District Judge E. F. Carter of Gering in appointing A. Torgeson of Scottsbluff as receiver of seven failed state banks in the Seventeenth judicial district. Judge Carter had refused the application of E. H. Luikart, secretary of the state department of trade and commerce. to be made succeeding Clarence Bliss, his predecessor in office. The supreme court held that where liquidation of state bank conducted court equity the procedure is judicial and not The court also ruled appointment of receiver should not be made controlled by the governor legislature. the imperative duty of the judicial to protect its jurisdiction the boundaries power fixed the constitution, the declared legislative act providing for appointment of the secretary department of trade and commerce receiver for all insolvent state banks must be regarded merely legislative recommendation the court, the opinion stated. Otherwise this act would unconstitutional, the court finds. decision terminates con troversy between state banking officials, Governor Bryan and Judge Carter appointed receivof the banks when Bliss. of the department of trade and resigned. Radke, counsel for receivership division, applied for appointment of Luikart. Judge Carter refused to consider this unless assured Bryan would not interfere with Luikart ceiver Torgeson subsequently was The seven banks concerned are the State Bank of Minatare. Mitchell State bank. Irrigators Bank of Lyman State American Bank Mitchell braska State Bank of Bridgeport and the Bank Bayard eighth the Seventeenth district turned Torgeson was the Bridgeport bank. Bayard A. Paine and L. Day dissented from the supreme court decision.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
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Do not pass Go. Do not collect $200. Go directly to jail… or worse.
