Denton State Bank (Denton, NE)

Episode Information

Episode UID
76070571590
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
7607057 routing
Routing Number
76-0705
Start Date
June 28, 1932
Location
Denton, Nebraska (40.738, -96.844)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4179ca66b0e7545b

Response Measures

None

Description

Receiver (E. H. Luikart) is named in filings and dividends to depositors indicate the bank failed and remained in receivership.

Events (3)

1. June 28, 1932 Other
Newspaper Excerpt
Depositors in the Denton State bank will receive 5 percent of claims, or $2,772.47. They had previously received 38 percent of total claims...
Source
newspapers
2. June 28, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank is described as a failed Lancaster County bank (insolvency) with subsequent dividend distributions to depositors
Newspaper Excerpt
Depositors in the Denton State bank will receive 5 percent of claims...two failed Lancaster banks
Source
newspapers
3. October 15, 1932 Receivership
Newspaper Excerpt
E. H. Luikart, Receiver of the Denton State Bank; ... will, at 2 o'clock p. m., on the 15th day of November, A. D. 1932, ... offer for sale ... (Sheriff's sale notice).
Source
newspapers

Newspaper Articles (10)

Article Text

PAYS COUNTY DEPOSITORS Denton and Sprague Bank Assets Are Alloted. Orders alloting second dividends amounting to more than $6,000 to depositors in two failed Lancaster banks were issued Monday by District Judge Shepherd. Depositors in the Denton State bank will receive 5 percent of claims, or $2,772.47. They had pre+ viously 38 percent of total claims of Monday's dividend reduces the balance of claims to $33,269.64. Claimants of the Bank of Sprague get $3,688.32, representing 7 percent. Claims originally aggregated $52,411.83. This brings the total paid to $24,633.95 47 percent, and leaving a deficiency of $27,777.88.


Article Text

PAYS COUNTY DEPOSITORS Denton and Sprague Bank Assets Are Alloted. Orders alloting second dividends amounting to more than $6,000 to depositors in two failed Lancaster banks were issued Monday by District Judge Shepherd. Depositors in the Denton State bank will receive 5 percent of claims, or $2,772.47. They had previously received 38 percent of total claims of $55,449.51. Monday's dividend reduces the balance of claims to $33,269.64. Claimants of the Bank of Sprague will get $3,688.82, representing 7 percent. Claims originally aggregated $52,411.83. This dividend brings the total paid to $24,633.95 representing 47 percent, and leaving a deficiency of $27,777.88.


Article Text

Good, Good & Kirkpatrick and Mark Simons, Attorneys 613 Sec. Mut. Bldg. SHERIFF'S SALE NOTICE IS HEREBY GIVEN That by virtue of an Order of Sale, issued by the Clerk of the District Court of the Third Judicial District of Nebraska, within and for Lancaster County, in an action wherein The Lincoln Joint Stock Land Bank of Lincoln. Nebra ka, is plaintiff, and Thomas F. George and wife, Alma A. George; Clinton F. Dale and wife, Bessie Dale; Ella C. Dale; Raymond E. Date and wife, Lela Dale; Laura D. King and husband, Jay L. King; Ethel D. Neutzmann, single; Ellsworth L. Fulk, executor of the estate of Walter F. Dale; E. H. Luikart, Secretary of the Department of Trade and Commerce and Receiver of the Denton State Bank; Cornbelt Lumber Company, Kenneth George, and Frank Ketterer, are Defendants I will, at 2 o'clock p. m., on the 15th day of November, A. D. 1932, at the east door of the Court House in the City of Lincoln, Lancaster County, Nebraska, offer for sale at public auction, the following described Lands and Tenements, to-wit: The Northwest Quarter (NW) and the West Half (WΒ½) of the West Half (WΒ½) of the Northeast Quarter (NE%), Section Twenty-seven (27), Township Nine (9) North, Range Five (5) East of the Sixth Principal Meridian, Lancaster County, Nebraska. Given under my hand this 14th day of October, A. D. 1932. CLAUDE P. HENSEL, Sheriff. Nov 12 Oct 15-22-29, Nov 5-12


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A. M. Bunting, Attorney. 126 No. 11th St. SHERIFF'S SALE HEREBY That by virtue of Order of Sale, issued by the Clerk of the District Court of the Third Judicial District of Nebraska, within and for Lancaster County, in an action wherein Lincoln Safe Deposit Company, corporation, and Lincoln Trust Company, corporation, are Plaintiffs, and Matilda Lubben; Eilt Lubben; Pauline Chrisman; J. N. Chrisman; EmBertwell; Charles Bertwell; Alma Henning; George L. Henning; Ella Smith; Paul Muller; Pearl Muller; Paul Muller, executor of the estate of Pauline Muller, deceased; Fred Muller; Crete State Bank, Crete, Nebraska, a banking corporation; E. H. Luikart, Receiver of Denton State Bank, Denton, Nebraska; John Doe, whose real name is John Coulter; and Mary Doe, whose real name is Pearl Coulter, are Defendants, will at o'clock m., on the 14th day March A. D. 1933, at the east door of the Court House in the City of Lincoln, Lancaster County, Nebraska, offer for sale at public auction, the following described Lands and Tenements, to-wit: The West Half of the Northeast Quarter NE%) and the Northeast Quarter of the Northeast Quarter (NE% Lot Two (2) in the Southeast Quarter of the Northeast Quarter (SEΒ½ and the Northwest Quarter of the Southeast except Quarter of the B. & Railway Company. all in Section Five (5), Township Eight (8) North, Range Five (5) East, in Lancaster County, Nebraska. Given under my hand this 10th day D. 1933. of February, CLAUDE P. HENSEL. Sheriff. 11-18-25 Mar 4-11 Febr Mar 11


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Rules Judge Liable on Bonds For Trust Funds Judge Does Not Escape Liability Even if Acting in Good Faith Lincoln, Mar. 23. (AP)β€”Nebraska's supreme court today ruled that county judges are liable on their official bonds for trust funds coming into their hands by virtue of their office when the funds are lost through deposit in a bank which becomes insolvent. The court held that a judge acting in good faith and without negligence in the selection of a depository did not escape the liability. These principles were established in passing on a suit of Knox county against Robert S. Cook, former judge, and sureties on his official bonds, to recover money claimed due as unreported fees and from trust funds for which he allegedly had failed to account. The district court upheld the county's right to collect for the unreported fees and this was affirmed in today's decision by the supreme court. The trial court, however, held Cook was not liable for losses to trust funds occasioned by insolvency of banks but the supreme court reversed this and remanded the case with instructions to hold Cook and his sureties liable. The high court also denied the judge's claim he should be allowed credit for the sums paid out as premiums on his official bonds. The supreme court upheld judgment for $750 principal and $154 interest for Edward A. Dworak for services as an income tax accountant against Eli Shire of Lincoln. Holding that bank receivers should get the highest possible price for bank assets the court approved refusal of the Lancaster county district court in refusing to confirm sale of assets of the Denton State bank to the Loan and Finance company of Lincoln. The company made a higher bid after the public sale and the court held this was evidence the offerings at the public sale were inadequate. The court held $5,007 deposits of school district No. 8 of Wood River in Hall county in the Farmers State bank of Wood River were not trust funds and could be paid only on the basis of other general depositors because the funds were properly deposited in a depository bank. The school district of Crawford, however, had its $3,262 deposits in the Commercial State Bank of Crawford adjudged trust funds because the bank had not been approved as a depository prior to the school district money being placed in the bank.


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JUDGES LIABLE Over Trust Fund Must Pay Even Should Bank Fail; High Court Also Upholds Union Pacts. Lincoln, Mar. 23, ka's supreme court today ruled that county judges are liable on their official bonds for trust funds coming into their hands by virtue of their office when the funds are lost through deposit in bank which becomes insolvent. The court held that judge acting in good faith and without negligence in the selection of depository did not escape the bility. These principles were established in passing on suit Knox county against Robert Cook, former county judge, and securities his official bonds, on to recover money claimed due unreported fees and from trust funds for which he allegedly had failed to account. MUST PAY BOND PREMIUM. The district court upheld the county's right to collect for the unreported fees and this was firmed in today's decision by the supreme court. The trial court, however, held Cook was not liable for losses to trust funds occasioned by insolvency of banks but the supreme court reversed this and remanded the case with instructions to hold Cook and his sureties liable. The high court also denied the judge's claim he should be allowed credit for the sums paid out as premiums on his official bonds. The supreme court upheld judgment for $750 principal and $154 interest for Edward A. Dworak for services as an income tax accountant against Eli Shire of Lincoln. Holding that bank receivers should the highest possible price for bank assets the court approved refusal of the Lancaster county district court in refusing to confirm sale of assets of the Denton State bank to the Loan adn Finance company of Lincoln. The company made higher bid after the public sale and the court held this was evidence the offerings at the public sale were inadequate. UNION CONTRACTS. Rights of individual union borers under collective agreements between unions and employers were upheld in principle by the court as it passed for the first time on the rights of parties under collective agreement. The court affirmed $1,000 judgment Cass county for Adam S. Rentschler against the Missouri Pacific Railroad company. He asked damages on the been let out of he had ground work while laborer with lesser seniority rights was retained and awarded damages on the basis of wages lost by failure to retain him in employment in prefto the other man. Judge B. Rose dissented. The court said collective labor agreements or trade agreements are terms used to describe bargaining agreements as conditions of work, to wages and entered into between groups of and usually organized employes groups of employers or corporatoins. Such collective agreement, it said, becomes binding (Continued on page two)


Article Text

Supreme Court Holds County Judges Liable for Trust Funds Lost in Banks LINCOLN, March 23, (AP)-The Nebraska supreme court ruled Friday that county judges are 11able on their official bonds for trust funds coming into their hands by virtue of their office when the funds are lost through deposit in a bank which becomes insolvent. The court held that judge acting in good faith and without negligence in the selection of depository did not escape the liaThese principles were established in passing on suit of Knox county against Robert S. Cook, former county judge, and securities on his official bonds, to recover money claimed due as unreported fees and from trust funds for which he allegedly had failed to account. The court also denied the judge's claim he should be allowed credit for the sums paid out as premiums on his official bonds. The supreme court upheld judgment for $750 principal and $154 interest for Edward A. Dworak for services as an income tax accountant against EH Shire of Lincoln. Holding that bank receivers should get the highest possible price for bank assets, the court approved refusal of the Lancaster county district court in refusing to confirm sale of assets of the Denton State bank to the Loan and Finance Co. of Lincoln. The company made higher bid after the public sale and the court held this was evidence the offerings at the public sale were inadequate. The court held $5,007 deposits of school district No. of Wood River in Hall county in the Farmers State bank of Wood River were not trust funds and could be paid only on the basis of other general depositors because the funds were properly deposited in depository bank. The school district of Crawford, however, had its 262 deposits in the Commercial State bank of Crawford adjudged trust funds because the bank had not been approved as depository prior to the school district money being placed there.


Article Text

Supreme Court Holds County Judges Liable for Trust Funds Lost in Banks LINCOLN. March 23, Nebraska supreme court ruled Friday that county judges are 11able on their official bonds for trust funds coming into their hands by virtue of their office when the funds are lost through deposit in a bank which becomes insolvent. The court held that judge acting in good faith and without negligence in the selection of depository did not escape the liability These principles were estabfished in passing on suit of Knox county against Robert S. Cook, former county judge, and securities on his official bonds, to recover money claimed due as unreported fees and from trust funds for which he allegedly had failed to account. The court also denied the judge's claim he should be allowed credit for the sums paid out as premiums on his official bonds. The supreme court upheld judgment for $750 principal and $154 interest for Edward A. Dworak for services as an income tax accountant against Eli Shire of Lincoln. Holding that bank receivers should get the highest possible price for bank assets, the court approved refusal of the Lancaster county district court in refusing to confirm sale of assets of the Denton State bank to the Loan and Finance Co. of Lincoln The company made higher bid after the public sale and the court held this was evidence the offerings at the public sale were inadequate. The court held $5,007 deposits of school district No. of Wood River Hall county in the Farmers State bank of Wood River were not trust funds and could be paid only on the basis of other general depositors because the funds were properly deposited in depository bank. The school district of Crawford, however, had its $3,262 deposits in the Commercial State bank of Craw ford adjudged trust funds because the bank had not been approved as depository prior to the school district money being placed there.


Article Text

IN THE STATE SUPREME COURT SYLLABI Opinions filed by Court: March 23, 1934 28768 28768 Rentschier V. Missouri Paeific R. R. Co. Appeal, Cass. Affirmed. Paine, J. Rose, J., dissenting. 1. "Collective labor agreement" and "trade agreement" are terms used to describe a bargaining agreement, as to wages and conditions of work, entered into by groups of employees, usually organized into a brotherhood or union, on one side, and groups of employers, or corporations, such as railroad companies, on the other side. 2. Such a collective agreement, being a general offer, becomes a binding contract when it is adopted into, and made a part of, the individual contract of each employee. A breach of its terms will give rise to a cause of action by either party. 3. The terms of the collective agreement, as included in an individual labor contract, ought not to be construed narrowly and technically, but broadly, so as to accomplish its evident aims and protect both the employer and the employee. 4. An employee is not deprived of his right to seek redress in the courts because his contract of employment a contained a provision providing method of arbitration of disputes. sented to and allowed by the county board. 28890 28890 State ex rel Sorensen v. Denton State Bank (The Loan & Finance Co., Intervener). Appeal, Lancaster. Affirmed. Day, 1. Successful bidder at judicial sale becomes a party, may appear and urge confirmation, or show cause why he should be released from his obligation, and may appeal from the order upon motion for confirmation. 2. It is the duty of bank receivers and trial courts to attempt to secure highest possible price for assets of failed bank. 3. Substantially increased offers to receiver for assets of failed bank before confirmation of sale to highest bidder at public sale is sufficient evidence to support a finding of trial court in exercise of its judicial discretion that confirmation should be denied and new sale ordered. 28894 28894 State ex rel Sorensen V. Farmers State Bank, Wood River, (School Dist. No. 8, Intervener). Appeal, Hall. Affirmed. Per Curiam. Judgment affirmed on the authority of State V. Farmers & Merchants Bank of Deshler, 3 SCJ, No 23, P 8. 28790 28790 In re Estate of Crosty, Crosby V. Johnson. Appeal, Douglas. Affirmed. Begley, District Judge. 1. Where an application is made to probate carbon copy of a purported last will and testament which has not been found, and on the trial a witness is produced who testified, without contradiction or impeachment, that the deceased during his lifetime destroyed said last will and testament in his presence, with intention of revoking it, the verdict of the jury that said deceased left no last will and testament at the time of his death will be affirmed. 2. It is not prejudicial error in a will contest to ask a mental expert, who had previously testified as to the effects of chronic alcoholism upon the mind of a patient, if in his opinion such patient was in sufficient mental condition to understand reasonably business affairs, and those to whom he was naturally obligated, or to know and understand about his property and his obligations reasonably toward those having lawful claims upon him, in case he should die and his property would have to be disposed of. 28808 28808 McRae V. Mercury Ins. Co. Appeal, Douglas. Affirmed. Goss, C.J. 1. An agreement for the immediate cancelation of a fire insurance policy, without giving five days' notice, can be made, and this can be shown by acts and conduct as well as by direct words. 2. Acquiescence in a cancelation notice will operate to cancel a fire insurance policy and will work an entoppel to assert that the policy is still in force. 28881 28881 Dworak V. Shire. Appeal, Lancaster. Affirmed. Goss, C.J. 1. In law action, where the evidence is in substantial conflict, the decision of fact is for the jury. 2. A judgment on a verdict will not be set aside when the evidence of the prevailing party sustains the verdict. 3. Evidence and instructions examined and HELD to be free from prejudicial error. 28889 28889 The County of Knox V. Cook. Appeal, Knox. Affirmed in part and in part reversed and remanded. Good, J. 1. A county judge is liable on his official bond for trust funds coming into his hands by virtue of his office, which funds he has lost by reason of insolvency of bank in which he had deposited them, notwithstanding he may have acted in good faith and without negligence in the selection of a depository. 2. County judge cannot set off against a claim for unreported fees the amount which he has paid as premium for his official bond, where no claim for such premium has been pre- 28895 28895 Toews V. Schlitt. Appeal, Adams. Affirmed. Paine, J. Evidence examined, and judgment of the trial court affirmed. 28897 28897 State ex rel Sorensen V. Commercial State Bank, Crawford. (Thomas, Intervener.) Appeal, Dawes. Reversed and remanded. Day, J. 1. Where S. deposits money in bank for which certificate of deposit issues, relationship of debtor and creditor is ordinarily created between bank and depositor. 2. This relationship is not changed to that of trustee and CESTUI QUE TRUST. because administrator of S. does not know of deposit and does not find certificate of deposit until informed years later by receiver of bank after its insolvency, even though bank, with knowledge of death of S. and administration of her estate, did not make voluntary disclosure that S. some years prior to her death had certificate which was non negotiable, but was assignable. 3. Wrongful conversion of fund by bank and augmentation of its assets essential elements to create trust fund. are not established by evidence in this case. 28899 28899 State ex rel Sorensen V. Commercial State Bank, Crawford (School District of The City of Crawford). Appeal, Dawes. Affirmed. Eberly, J. 1. The application for a new trial, by motion, because of newly discovered evidence, material for the party applying, which he could not, with reasonable diligence, have discovered and produced at the trial, is required by section 20-1143, Comp. St. 1929, to be made at the term the verdict, report or decision was rendered. 2. After adjournment SINE DIE of the term at which the judgment was rendered, the provisions of section 20-1145, Comp. St. 1929, are controlling as to statutory application for a new trial. 3. A motion for a new trial cannot be amended by assigning new grounds after the statutory time for fil ng such motion has expired, except upon a finding by the court that the party was unavoidably prevented from presenting the matter contained in the amendment. 4. Even the action of a majority of a school district board will not bind the district. without notice to or participation therein of the other members. 5. Estoppel not having been pleaded in the district court may not be urged on appeal as reason for reversal.


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SUPREME COURT SYLLABI. The following opinions were filed by the court, March 23. Rentschler Missouri Pacific R. Co. Appeal. Cass. Affirmed Paine, Rose, dissenting. 1. "Collective labor agreement" and "trade agreement" are terms used to bargaining agreement, as to wages and conditions of work, entered into by groups of employes, usually organized into brotherhood union, on one side, and groups employers, or corporations, such as railroad companies on the other side. Such collective agreement, being general offer, bindnig contract when it is adopted and made part of, the dividual contract each A breach of its terms will give rise to cause of action by either party The terms of the collective agreement, as included in an individual labor contract, ought to be construed narrowly and technically, but broadly, so as to accomplish its evident aims and protect both the employer and the employee. 4. An employee is not deprived of his right to seek redress in the courts because his contract of employment contained provision providing a method of arbitration of disputes. Will Denied Probate. In re Estate of Crosby, Crosby Johnson Appeal, Douglas. Affirmed Begley, District Judge. Where an application is made to probate carbon copy of purported last will and testament that has not been found, and on the trial witness is produced who testified. without Impeachment that the during his lifetime said last will and testament in his presence, with intention of revoking the verdict of the jury that said deceased left no last will and testa- ment at the time of his death will be affirmed. 2. It is not prejudicial error in will contest ask a mental expert, who had previously testified as the effects of chronic alcoholism upon the mind of patient, if in his opinion such patient was in sufficient mental condition to understand reasonably business fairs, and those to whom he was naturally obligated, or to know and understand about his property and his obligations reasonably toward those having lawful claims upon him, in case he should die and his property would have to be disposed May Cancel Policy. McRae V. Mercury, Ins. Co. Appeal, Douglas. Affirmed. Goss, An agreement for the immediate cancelation of fire policy, without giving five days' nocan be made, and this can be shown by acts and conduct as well as by direct words. Acquiescence in a cancelation notice will operate to cancel fire insurance poliy and will work an estoppel to assert that the policy is still in force, Must Pay Fee. Dworak vs. Shire. Appeal, LanAffirmed Goss, In law action, where the evidence is in substantial conflict, the fact is for the jury. 2. A judgment on a verdict will not be set aside when the evidence of the prevailing party sustains the 3. Evidence and instructions examined held to be free from prejudicial error. Liable on Bond. The County of Knox VS. Cook. Appeal, Knox Affirmed, in part and in part reversed and remanded. Good, 1. A county judge is liable on his official bond for trust funds coming into his hands by virtue of his office, which funds he has lost by reason insolvency of bank in which he had deposited them withstanding he may have acted in good faith and without negligence in the selection of depository. 2. County judge cannot set off against unreported fees the he had paid as premium for his official bond, where no claim for such premium has been presented to and allowed by the county board Must Get Best Bid. State rel Sorensen VS, Denton State Bank (The Loan & Finance Co. Intervener) Appeal, Lancaster Affirmed. Day, Successful bidder at judicial sale becomes a party, may appear and urge confirmation, or show cause why he should be released from his obligation, and may appeal from the order upon motion for confirmation. 2. It is the duty of bank receivers and trial courts attempt to secure highest possible price for assets of failed 3. Substantially increased offers to receiver for assets of failed bank before sale highest bidder at public sale is ficient evidence to support findof trial court in exercise of its judicial discretion that confirmation should be denied and new sale ordered. School Deposits Law. State rel Sorensen vs. Farmers State bank, Wood River, (School Dist. No. Intervener) Appeal, Hall. Affirmed. Per Curiam. Judgment affirmed on the authority State VS. Farmers & Merchants Bank Deshler, ante Toews VS. Schlitt. Appeal, Adams. Affirmed Paine, Not Trust Fund. State ex rel Sorensen Commercial State Bank, Crawford (Thomas Intervener) Appeal Dawes. Reversed and remanded. Day, Where 8. deposits money in bank for which certificate of deposit issues, relationship of debtor and creditor is ordinarily credited between bank and depositor. 2. This relationship is not changed to that of trustee and cestui que trust. because administrator of does not know of deposit and does not find certificate of deposit until informed years later by receiver of bank after its insolvency, even though bank, with knowledge of eath of S. and administration of her estate did not make voluntary disclosure that S. some years prior to her death had certificate which was non negotiable, but was assignable. 3. Wrongful conversion of fund by bank and augmentation of its assets, essential elements to create trust fund are not established by evidence this case Majority Can't Bind Board. State ex Sorensen Commercial State bank, Crawford (School District of The City of Crawford) Appeal, Dawes. Affirmed. Eberly, The application for new trial, by motion, because newly discovered evidence, material for the party applying, which he could not, with reasonable diligence, have discovered and produced at the trial, is required by section 20-1143 Comp. St. 1929, be made at the term the verdict, report or decision was 2. After adjournment sine die of the term at which the judgment was rendered the of section 20-1145, Comp. St. 1929, are controlling as statutory application for new trial. 3. A motion for new trial cannot amended by assigning new grounds after the statutory time for filing such motion has expired, except upon finding by the court that the was prevented by the court that the party vented from presenting the matter contained in the amendment. Even the action of a majority of school district board will not bind the district, without notice to Estoppel not having been pleaded in the district court may not be urged on appeal as reason