Farmers & Merchants Bank (Weston, NE)

Episode Information

Episode UID
76048571564
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7604857 routing
Routing Number
76-0485
Start Date
April 15, 1930
Location
Weston, Nebraska (41.194, -96.743)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a54a9d69e37a399e

Response Measures

None

Description

Bank was closed/placed in charge by state examiners after Wahoo bank failures; later court/receiver actions confirm non-reopening.

Events (2)
1. April 15, 1930 Suspension
Cause
Government Action
Cause Details
Closed/placed in charge by state banking examiners following the failure/closing of Wahoo banks and actions of the State Banking Department.
Newspaper Excerpt
Farmers and Merchants bank, Weston, whose officers are F. J. Kirchman, president ... deposits $168,967.72. Examiner J. F. McLain, Farmers and Merchants at Weston.
Source
newspapers
2. April 17, 1930 Receivership
Newspaper Excerpt
Examiner ... J. F. McLain, Farmers and Merchants at Weston; receiver of the Weston Bank was authorized to accept ... (receiver activity later reported in 1932 and 1934).
Source
newspapers

Newspaper Articles (5)
1. April 17, 1930 Wahoo Newspapers Wahoo, NE
Article from Wahoo Newspapers, April 17, 1930

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Article Text

The state Banking Department closed the Nebraska State Savings Bank here last Tuesday noon. The Saunders County National Bank, operated in the same building with the same officers, was closed at the same time by order of the Board of Directors. Slow collections caused the banks to close their doors. "None of the depositors in either bank will lose a penny," declared F. J. Kirchman, president of the two institutions. "There are adequate assets to take care of everybody. "Steps are already under way to re-organize the National Bank. After the Banking Department had closed the Nebraska State Savings Bank, the Board of Directors voted voluntarily to close the National Bank." Organized in 1882. The state bank was organized by George W. E. Dorsey of Fremont in 1882, and the Saunders County National came into existence two years later. The banks have grown steadily, and were among the first small town banks in the state to have a million dollars in deposits. F. J. Kirchman, president of the institutions, has been connected with these banks continuously for almost a half century. He came to Wahoo, December 15, 1884, and accepted an unimportant post in the bank. In 1893 he was appointed assistant cashier, and his rise was rapid thereafter. He was promoted to vice president in 1900 and to president in 1923. Other officers of the bank are: W. H. Kirchman, cashier; F. J. Kirchman, jr., assistant cashier; Malcolm Anderson, assistant cashier; Charles T. Podhaisky, assistant to the president; Frank Podhaisky, Teller; Max Safranek, clerk; Arnold Kirchman, clerk; Roy Swanson, bookkeeper. The last statement of the two banks showed combined deposits of $768,148.04, $273,646.32 credited to the Nebraska State Savings Bank and $494,501.72 to the Saunders County National. Total resources were $1,211,038.51. Examiner R. H. Larson is in charge of the Savings Bank and Examiner F. S. Nelson is in charge of the National Bank. In a statement issued today, State Bank Commissioner George Woods declared the failure of the two Wahoo banks precipitated the closing of the following affiliated banks in Saunders county: State Bank of Touhy, whose officers are Jul Petermichel, president; F. J. Kirchman, vice president; W. H. Kirchman, vice president, and M. A. Kirchman, cashier, with deposits of $32,465.57. Farmers and Merchants bank, Weston, whose officers are F. J. Kirchman, president, Jul Petermichel, vice president, Ferdinand Pacal, cashier, James Pavlik, assistant cashier, deposits $168,967.72. State bank, of Colon, whose officers are F. J. Kirchman, president; F. J. Bastar, vice president; J. A. Sams, vice president; E. H. Henderson, cashier, deposits, $207,276.92. Oak Creek Valley bank, Valparaiso, whose officers are F. J. Kirchman, president; Jul Petermichel, vice president; H. L. Mosgrove, cashier; J. V. Roh, assistant cashier, deposits $251,136.12. Examiner Nelson of the National banking system is in charge of the Saunders County National bank, while the following state bank examiners have been placed in charge of the state banks: R. H. Larson, Nebraska State Savings, Wahoo; J. E. Hollingsworth, State Bank of Touhy; J. F. McLain, Farmers and Merchants at Weston; L. C. Sorensen, State Bank, of Colon; Virgil S. Lee, Oak Creek Valley Bank at Valparaiso. While a run on the other banks in the city is not anticipated, the First National and Citizens State Banks have fortified themselves with large sums of cash to meet any demand that might be made. One of the heaviest creditors of the Saunders County National Bank is Saunders County which had $25,000 on deposit. These funds are protected by surety bonds, however, in addition to the responsibility of the bank. SILENCE IS GOLDEN The local financial situation calls for an exercise of more than ordinary patience and forbearance until the banks have an opportunity to re-organize or recoup as best they can their shattered fortunes. It is going to profit no one, by reviling and charging officials with derelictions of duty. The situation is sufficiently grave without adding to the tension already existing. Let us be brave enough to refrain from hurtful comment for the time being, at least. There is no occasion for radical thought or action. It is unthinkable that Saunders county, one of the richest in Nebraska, cannot rise above the present temporary financial flurry and emerge stronger and safer than ever. We should take council one with the other and refrain from doing anything that might further injure the business of the community or the county. This is one of the occasions in life when silence is golden. WILLS AND ESTATES EVA KNOBE The estate of Eva Knobe of Ashland, who died at Lincoln, March 28, has been filed for probate. Personal property is estimated at $4,200. The heirs are: Edwin P. Knobe, husband, Ashland; Gordie I. Knobe, son, Haxtum, Colo.; Marcus C. Knobe, son of Ashland; Stella Williams, daughter Greenwood; Catherine Lohr, daughter, Ashland; Grace Sutton, daughter, Waverly. ANNA FRANSON The will of Anna Franson, who died at Colon, March 27, has been filed in county court. The estate consists of approximately $28,000 in real estate and $11,000 in personal property. The heirs are: Victor E. Franson, son, of Colon; Elmer J. Franson, son, Colon; Edna M. C. Anderson, Colon, daughter. The latter is petitioner and the petition requests that Victor F. Franson and Elmer F. Franson execute the will. C. F. Galloway is the attorney. JOSEPH CIZEK The will of Joseph Cizek, who died at Prague, March 29, was filed this week. The heirs are: Katherine Cizek, widow; Thomas, Joseph and James Cizek, sons; Marie and Agnes Cizek, daughters. The petition, filed by Marie Cizek, asks that Catherine Cizek be appointed administratrix. Slama and Donato are the attorneys. JIRI BARTEK A petition for determination of Heirship has been filed in the estate of Jiri Bartek, who died Aug. 5, 1913. The petition alleges that more than 2 years have elapsed and no administrator has been appointed. The living heirs are: Joseph, John, George, Andrew, Sylvester and Julius Bartek, sons of the deceased and Kamilla Kash Veronika Zetochka, Emma H. Bartek, daughters. Joe F. Berggren is the attorney. CHARGED WITH FORGERY Rudolph Kracman, arrested at Malmo by Sheriff Mengel, was arraigned before Justice Lehr on a charge of forging a check for five dollars on R. C. Van Osten, farmer. Kracman pled guilty and was bound over to District Court. He is being held in the county jail pending sentence. ELECTRICAL WIRING Electrical wiring and repairing of all kinds by certified electricians. Anderson & Webster Electrical Co., Phone 171, Wahoo.

2. December 4, 1930 The Independent Wahoo, NE
Article from The Independent, December 4, 1930

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Article Text

District Court Notes Harry Markle, Administrator the Estate Caroline Otto, ceased. has filed against Albert asking for judgment note the $5,000 with interest from the day 1929, and costs of tion. Bryant, attorney Plaintiff. Collins has filed against Nitz and Josephine asking foreclosure the West Half of the Southeast Quarter Section Township North Range Nine, East the Saunders County, Nebr. Schiefelbein, Atty. Petition filed the First Trust Frank Stanislav, asks for on the Northeast Quarter Section Seven, Thirteen, Range Five, East of the Sixth Saunders County, Nebr. Hall, Cline Williams Attys. The following orders been entered: State of Nebraska Tomes and William Elmelund. False reports. Defendants state that their showing now complete. State desires to answer the showing, and matter continued for showing State and final hearing Dec. First National Bank Thomas First National Bank of Wahoo to paid $1438.95. Balance paid Estate Minnie deceased. Judgment fied. Dismissed. Mortgage isfied. Clerk ordered. The two appeal cases In the Matter the Estate of Levi Keibeen Wiggenhorn William Barger, Foreclosure. Order distribution entered. Farmers Merchants Bank, MalJacob Edward Foreclosure. Trial to Court. of entered. In the Matter of the Estate Patrick McGinn, Dec. Case missed. Paul Burmeister has been pointed Receiver Clarence Bliss, FarmMerchants Weston, Neb Emil Mattson, George Olson City hoo. Damages and injunction. fendant to plead in five days. If no plea on file, then to answer days. Phil Campbell appointed guardian litem for minor fendants the partition action of Martha Ella Henry Breyer, Mable Partition. Clyde R. Worrall appointed guardian litem for Breyer, incompetent. In the Matter of the sale of trest in Real Estate License grantSell Real Estate. Grand adjourned 1931. received this State Kirchman and of State Joseph Ohslund Some are Missinformed

3. December 29, 1932 Ashland Gazette Ashland, NE

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Myrtle B. Berggren in a petition asks the court for an injunction restraining the Sheriff and the Merchants National Bank from attaching any of 200 acres of land 2 1/2 miles west of Mead on highway 16, or any crops accruing therefrom. The alleged judgment was for $632.50 and was granted to the bank in Shawnee county, Kansas, and transcripted to this county. Joe F. Berggren, attorney. The court decreed that Carl Wiedenbeck has a first lien on one 40 acre tract and Della Simpson a first lien on a second 40 acre tract belonging to Ernest P. Gibson, 1 1/2 miles west of Mead on highway 16. Said land to be foreclosed unless payment is made. The court authorized the receiver of the various banks named below to accept the amount set opposite the names of the following named persons as full settlement of their individual debts to said banks: Bernt E. Johnson, $263.57, Farmers & Merchants Bank of Weston; Bernt E. Johnson, $351.43, Citizens State Bank of Wahoo; Elmer and Emil Bern, $1,000, Citizens State Bank of Wahoo; Axel Bostrom, $75, Malmo State Bank of Malmo. The receiver of the Citizens State Bank was authorized to deed 80 acres of land one mile south and 7 1/2 miles west of Malmo to The Lincoln Joint Stock Land Bank for $200. Said bank having a first mortgage on the land in the amount of $5,911.51. The receiver of the Weston Bank was authorized to accept from Max Dolezal, $18 in cash as full payment on two gas pumps now in receiver's possession. The receiver of the Malmo State Bank was authorized to accept $110 from the Wahoo State Bank in full payment for the following equipment belonging to the defunct Malmo Bank: 1 nest of 50 safety deposit boxes, $50, and 1 Burroughs electric posting machine number, $60. The receiver of the Citizens State Bank was authorized to accept $3500 from Emma and Annette Bostrom as full settlement of their indebtedness. Selma M. Anderson and Amanda Turnwall were decreed to be the owners of a $2500 mortgage on 40 acres of land belonging to Joseph and Cecelia Pecka located 3 miles east of Valparaiso. The Citizens State Bank upon paying all costs in said action is to be released from all liability on account of trust claims of parties to this action. The court ordered the receiver of the State Bank of Touhy to accept a claim of $10,000 from the receiver of the Saunders County National Bank. Said claim based upon misapplications and to have same consideration as other claims.

4. March 1, 1934 The Independent Wahoo, NE

Article Text

DISTRICT COURT ORDERS State ex-rel vs Farmers & Merchants Bank, Weston. Receiver ordered to collect stockholders liability and dispense with action against directors. The Lincoln Joint Stock Land Bank have filed a petition in equity against Curtis Hackney, et al on a $6800 mortgage on W½NE¼ Sec. 5, 12, 9. Application of E. H. Luikart, receiver, State Bank of Swedeberg to compromise indebtedness of Edward Edborg for $400 filed in court. It was approved by the depositor's committee. The Wahoo Mutual Loan & Building Association have filed petition of foreclosure against Enoch A. Olson et al on notes and mortgages in three causes of action, one on the Lot 10 and S½ of W½ Lot 11, Block 83 and S½ Lot 4, 5, 6,, block 80 and lot 10 and S½ lots 11 and 12, block 83, all in Wahoo. State vs Weston Bank. Order to compromise indebtedness of Herman B. Anderson for $100. State vs State Bank of Swedeburg. Order that receiver pay Chas. H. Slama $162.50 for agreed attorney fee in case of Hohl vs Krafka, et al. J. J. Johnson, manager of the Community Hospital vs Saunders County. Appeal. Defendant County given 10 days in which to file brief and plaintiff 10 days thereafter to file brief. Floretta D. Carr vs Elmer Carr. Decree of divorce granted plaintiff.

5. March 8, 1934 The News Cedar Bluffs Standard Cedar Bluffs, NE

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Interesting Items from Wahoo (Wahoo Wasp) County Court Notes Estute of Nellie E. Way, deceased filed for prolute. Petition asks apd:0intment of Frank E. Way as admin istrator. U. F. Galloway, attorney. Estate of Sarah I. Greer, deceased, filed for probate. Hearing set for March 15tn. Petition asks appointment of Gertrude Greer Peterson as administratrix. Joe F. Berggren, attorney. 372 Men Worked On CWA Last Week There were 372 men on the payrolls of the CWA last week and as there was no disbursing officer fully qualifled for the job the men did not receive their checks, Today George Ayres the new di-bursing officer had the checks prepared and signed up for the pay noll which amounted to $3,178.68, The number of men to be drop ped will amount to 20 per cent a week. Wahoo now has 53 and next week they will have a reduction. CWA Auditor Here O. A. Phillips, district field auditor of the CWA and the FERA was in Wahoo Monday checking up on the work of the local county units of the two departments He announced that the CWS had now been consolidated with the owa dopartments and all will now be paid through the same hannel. Women have been employed on the CWS, Interesting Items From The Sheriff Get your license plates now. the Sheriff will start in this week tagging all cars with old plates, John Roubal was arrested by the Sheriffs office and charged with second offense intoxication. He plead julicy before Justice Reader and was sentenced to GO days in County jail. Law Mason, who was charged with embezzlment of $125.00 was arrested by Stoux City Police on February 24. 1934, and returned to Wahoo by Dep uty Sheriff Hagstrom the same day. Mason paid the amount of the money he embezzled, the costs of the case and was released. 4 Weston man was arrested by Sher Iff Mengel Monday night when he was found with his car in the ditch west of Wahoo. He was sentenced to $15.00 fine on the intoxication charge and 30 days in jail for driving an auto intoxicated His driver's license was suspended for one year. Justice Read or pronounced the sentence. Hans Jensen of Blair was arrested by Sheriff Mengel on charge of embezzlement of a small amount of mon cy. He later paid the man he embezzled the money from, and was released. There are now 5 men in the County jail. One is waiting a trial on forg ory charges as he waived prliminary hearing in Justice Court and was bound over to the District Court. Saunders Joins the "1000 Contract" Class Approximately one thousand cornhog contracts had been signed and turned in to the office of the Saun dens County agricultural agent by Thursday, March 1st. This number represents the status of the signup here after the first canvas of about three fourths of the precincts of the County. Committeemen in charge ex pest a total of about 1500 contracts at the dose of the signing schedule. Af ter that date. there will be a few more days opportunity given those who, for solde good reason, have not been able to complete their papers. Filling clerk will be located at several points in the County to take care of these late comers. Over 50,000 contracts now have beer signed in the state according to re ports coming to the state corn-bo administration office at Lincoln. That more than half the corn and hog grow ers will sign the contracts is now defunitely assured. Canvas of the non-signers will be completed here in the county as rap dis as possible for the signing day are over. Temporary precinet com mitteemen will do the clean-up work They will give every corn hog producer a chance to sign the contract if be cares to do S0 They will figure out for each man who has not signe just about what his corn and hog be efit payments would be if he shoul go nito the adjustment program. They weld` emphasize the fact that it takes every one's cooperation to make any undertaking a 100 per cent success. CWA Work Begins At County Fair Grounds One of the new owa projects of Saunders County will center nt the County Fair Grounds. It is estimat vd that the project which will include even different Jobs will cost $2500, This will be entirely for labor. R. O. Johnson, president of the county fair board appointed the foilowing committee to 10ok after the work: E. J. Erickson, Albert Benson and John F. Lubker. The first tusk undertaken will be the cutting down of all the hedge on the west side of the fair grounds. This will then furnish the fence posts to be us. a in constructing a new fence. There is to be a new wire fence around the entire fair grounds and nace track and the board fence from the grand stand is to be extended north 250 feet and south 75 feet, Next week mten will begin taking lown the old south barn which was formerly used for race horses. The Jumber will then be used for the erec tion of a new 4-H Club exhibition hall on the northeast side of the fair grounds. Several new additional rest rooms are to be built. The Agricul bural Hall will be remodeled and the base bail diamond is to be constructed in front of the grand stand. The new I-H building will then be painted as well as others that need painting. Palaters will start soon on the inerlor decorating of the balls at the ourt house. This will be a good inde job and the work will be done y CW A workers. The halls have not een painted for 14 years althou gh they still look very presentable. New Suits In District Court Walter F. Roberts, administrator of be estate of Sophia Safstrom, de ns d. has filed a petition in dist et ourt asking for license to sell the North 1 of Lot 10, 11, and 12 in Blk. 2 in Washoo in order to settle the lebts of said estate. Clyde R. WorIn the matter of the estate of Edand Swabson, deceased. Frances llsrop has filed a petition in di. purt usking the completion of ract for real estate. The contract provides for sale of Lots 4 and east balf of Lot 5 in Blk. 6, Ashland, for $500 with $50 payment and $15 per month until paid. J. C. Bryant, Qtty. Hattic Roubal has filed suit for divorce against John Roubal. five children. Olyde R. Worall. atty. Gust Olson of Wathodo has filed peti tion for divorce against Aprin Olson. They were married in Winnipeg, Dan ada, Sept. 5, 1920. There were no whildren of this marmage, He asks absolute divorce. H. A. Bryant and Chas. H. Hood, attys. Home Finance and Investment Co., have filed petition in district court against William Ketser on $780 chattel note. H. E. Stevens, atty. Philip Walla Jr., et al has filed pe tition against Harry Krause et al on note and interest totalling $2.062.14. District Ceurt Orders State ex-ret vs Farmers & Merch ands Bank, Weston, Receiver ordered to collect stockholders liability and dispense with action against directors. The Lincoln Joint Stock Land bank have filed a petition in equity against Curpls Hackney, et al on a $6800 mort gage on WINEg Sec. 5, 12, 9. Application of E. H. Luikart receiver State Bank of Swedeberg to compromise indebtedness of Edward Ldborg for $400 filed in court. It was approved by depositor's committee. The Walhoo Mutual Loan & Building Association have filed petition of foreclosure against Enock Olson et al on notes and mortgages in three caus as of action, one on the Lot 10 and Si of We Lot 11. Block 83 and S. Lot 4, 5, 0, Block so and lot 10, and S1 lots 11 and 12, Glock 83 all in Wahoo. State VS Weston Bank. Order to compromise indetedness of Herran An derson for $100. State 19 State Bank of Swedeburg. Order that receiver pay Chas. H. Sla na $162.50 for agreed attorney fee in case of Hohl vs Krafka, et al. J. J. Johnson. manager of the Com munity Hospital VS Saunders County Appeal. Defendant County given 10 days in which to file brief and plainI.ff 10 days thereafter to file brief, Moretta D. Oarr VS Elmer Carr. De cree of divorce granted plaintiff.