Loretto State Bank (Loretto, NE)

Episode Information

Episode UID
76078571557
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
7607857 routing
Routing Number
76-0785
Start Date
September 12, 1929
Location
Loretto, Nebraska (41.765, -98.081)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cfdafd3b4806631a

Response Measures

None

Description

Closure reported in Sept 1929; by 1931 a receiver is appointed and foreclosure proceedings are underway.

Events (2)

1. September 12, 1929 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors, cited lack of patronage and criticized licensing of banks unable to sustain operations.
Newspaper Excerpt
The Loretto State Bank at Loretto in Boone county has joined the majority and closed doors.
Source
newspapers
2. March 21, 1931 Receivership
Newspaper Excerpt
Clarence G. Bliss, Secretary of the Department of Trade & Commerce, and Receiver of Loretto State Bank of Loretto, Nebraska; ... decree of said court rendered at the September, 1930 term ... On March 21, 1931 ... decree ... is decreed to be a first lien ...
Source
newspapers

Newspaper Articles (2)

Article from Madison Star-Mail, September 12, 1929

Click image to open full size in new tab

Article Text

Is Your Preacher Coming Back? Buckner, Methodist preacher who has taken supernumerary relations and not serve congregation is engaged in newspapers with ture stories religious and church activities gives the following pertinent information about the Methodist church conferences: "This week every Methodist preacher in Nebraska is out of job. Methodist ministers are appointed by the bishop for one year or until the annual conference meets. This year it meets at Trinity church in Lincoln, Sept. 10th. During the session of this annual conference, all the ministers of the state receive their appointments from Bishop Leete. "The district superintendents are assistants of the bishop but his is unlimited. He appoints power the district superintendents and all the preachers in the state. In the main this is the best method of getting pastors. The ers will get good appointments under but inferior any system preachers are hard to place. question at the head of this article has been asked many times in the state during the past few months. think it better that this should not be asked for question no one knows the answer. "It is hard for the preacher to know whether he should move or not. In almost every church there are certain things which are unpleasant and, on the other hand, many that are pleasant. "The preacher thinks that if he could get away from the unpleasant things and have everything lovely it would be delightful. He will not be in his new charge three months, however, until he discovers some unpleasant things. Serons are like pie, people differ in their tastes. "The United Presbyterian church at Olathe, Kas., hunted three years for pastor. The search was conducted as follows: Three candidates were asked to preach, then meeting of the church was called and vote taken as to which of the three was wanted. Usually the ballots were about evenly divided. Three more candidates were then invited and another election held. This continued for three years. Some persons like social qualities in preacher and do not care preaching ability. "When was at David City, two men who were members of the Baptist talking to me about getting pastor. asked the question, 'Would you rather have man good preacher or good mixer?' Both said they preferred good mixer but assured them that desired good preacher. "A woman said to me recently that she hoped her church would get new preacher. Her pastor could preach but was not sociable with the young people. Some churches want man who will fill the church pews or pay off their debt. believe in long pastorates. am sure that the coming conference will give new pastors to many churches. In six months both the congregation and preachers will say, 'We gained nothing by changing.' "The minister has hard place to fill and the people should be patient. The preacher must dress to please multitude and his wife must satisfy host. church is concerned as to how the minster's wife and his children dress. The preacher must please the rich, the poor, the educated and the ignorant, the 'spiritual minded.' and the society folks, and the common people. This cigantic task and every member the church should help the pastor to meet his problem. The distance between the above groups not great as the groups think. once said to Judge Green, one of mv members. that wished he more spiritual. He thanked me and asked me like whom. hesitated. then said, 'Like Tom Walker.' He asked me if wanted him to have the reputation of Tom Walker. said 'No, want you to have the reputation of Judge Green and the spirituality of Tom Walker.' "He asked if thought Tom Walker's spirituality made him honest, truthful, kind and better eitizen. After we had talked for an hour said, 'Well. of the two men. prefer you to Tom Walker.' "Green was better than he thought and Walker was not so good as he thought. Religion must be judged by its goodness. "A man said the first Sunday after took the charge, "Come see when you do not need to go somewhere else. but never feel that you must come to visit me. Tell you would like for me do and let me decide if can do am here to co-operate with you. was his pastor eleven years and he made good his first statement. committee met the new preacher at the depot. The next morning. one of the committee met member of the church and said, 'Nelse, you did not meet our new preacher last night.' Nelse said, 'No, thought would wait and carry his grip when he left.' friend better who carries when leave. Methomy grip dist preachers have as much to where they go as any ministers in the world. "Thirty years ago Bishop Merrill rose to read the appointments and said: 'Every preacher in this conference knows where he is going for he has been consulted and has said, am willing. When was elected bishop and rose to read the appointments no man knew where he was going! do not mean that each preacher got what he wanted but he took what was offered just as ministers do in other churches." Fritz Test has taken position with the Standard Oil Company filling the vacancy by the resignation of Kielty. Mrs. Ray Kienlen and baby of Oklahoma City, Okla., Mrs. Gilliard and children of Marland, Okla., and Harry Kaul are here visiting with their sister, Mrs. Ernest Schlender and family. The Loretto State Bank at Loretto in Boone county has joined the majority and closed doors. Day by day in every way the incompetence of the banking board in granting banks license where no banks have patronage enough to exist is shown.


Article Text

SALE BY SPECIAL MASTER UNDER DECREE Forrest Lear, Special Master Norfolk, Nebraska PUBLIC NOTICE is hereby given that, by virtue of an order of sale issued out of the District Court of the United States for the District of Nebraska, Omaha Division, and in pursuance of the decree of said court rendered at the September, 1930 term of said Court, to-wit: On March 21, 1931, in an action therein pending, numbered 1088-Equity, wherein The Union Central Life Insurance Company, of Cincinnati, Ohio, is plaintiff, and John Krogh, Inez Krogh, Loretto State Bank of Loretto, Nebraska, a Nebraska Banking Corporation; Clarence G. Bliss, Secretary of the Department of Trade & Commerce, and Receiver of Loretto State Bank of Loretto, Nebraska; Harry L. Kunkel, and John Doe, real name unknown, are defendants, whereby the mortgage involved in said action on the property hereinafter described was foreclosed, I, Forrest Lear, as Special Master of said court, by virtue of the authority in me vested as such Master, under the decree and order of sale issued to me as such Master, will on the 10th day of February, 1932, at 11:00 o'clock in the forenoon, at the entrance to the county court house in Albion, the county seat of Boone county, Nebraska, at the usual place where sheriff's sales of land are made in said county, sell at public auction to the highest bidder for cash, the property on which said mortgage was foreclosed, which said property is situate in the County of Boone and State of Nebraska, and known and described as follows, to-wit: The Southeast Quarter (SEΒΌ) of Section Nineteen (19), Township Twenty-one (21), North, Range Eight (8), West of the 6th P. M., containing One Hundred Sixty (160) acres, all in Boone County, Nebraska To satisfy plaintiff in the sum of $11,927.00, with interest thereon at the rate of 10 per cent per annum from March 21, 1931, which amount is decreed to be a first lien upon the mortgaged premises hereinbe-