Citizens State Bank (Ralston, NE)

Episode Information

Episode UID
76119471495
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
7611947 routing
Routing Number
76-1194
Start Date
July 1, 1924*
Location
Ralston, Nebraska (41.205, -96.043)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b6ecc586dd5e7c06

Response Measures

None

Events (4)

1. July 1, 1924* Suspension
Cause
Government Action
Cause Details
State guaranty fund commission took custody of the bank after alleged discrepancies in funds were found; bank was taken over July (previous year).
Newspaper Excerpt
the state guarantee fund commission, which took over the bank last July, when alleged discrepancies were found in the bank's funds
Source
newspapers
2. April 19, 1925 Other
Newspaper Excerpt
Ted J. Shanahan, former cashier of Citizen's State bank of Ralston, Saturday furnished bond ... The complaint against Shanahan was filed by George R. Buckner, auditor of the state guarantee fund commission, which took over the bank last July ... Shanahan said he had lost his personal fortune of $40,000 in an effort to prevent an impending crash of the Citizens' State bank.
Source
newspapers
3. July 11, 1929 Other
Newspaper Excerpt
The first information given out about audit of failed bank lates to the Citizens State Bank of Ralston. The auditors says the failures caused by illegal of funds by the president. He had notes of himself and wife in the bank to the extent of almost double the capital stock. Criminal prosecution started against him at the time, but he was not convicted.
Source
newspapers
4. January 16, 1932 Receivership
Newspaper Excerpt
Brownell was discharged receiver of the Citizens State bank Ralston ... These bank-liquidations are complete.
Source
newspapers

Newspaper Articles (4)

Article from The Omaha Daily News, April 19, 1925

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Article Text

FORMER CASHIER OF RALSTON BANK FURNISHES BOND Complaint Filed Against ExOfficial After Auditor Scans Records. ACCUSED REMAINS SILENT Ted J. Shanahan, former cashier of Citizen's State bank of Ralston, Saturday furnished bond of $1,000 on each of three specific charges of forgeries of bank with. drawal receipts on his brother, M. P. Shanahan of Omaha. The three receipts totaled $3,200 The complaint against Shanahan was filed by George R. Buckner, auditor of the.state guarantee fund commission, which took over the bank last July, when alleged discrepancies were found in the bank's funds Mr. Shanaban's bond, totaling $3,000. was signed by Mrs. Bell Hatch, milliner, 2419 South Eighteenth street, and Mrs. Bertha Liv. ingston, both friends of the Shanahan Appears Before Judge Shanahan appeared before Judge Bryce Crawford in county court and made bond when he learned a war rant for his arrest had been issued. The former bank cashier declined to comment on the matter other than to say that he had lost his personal fortune of $40,000 in an effort to prevent an impending crash of the Citizens' State bank. "Shanahan hasn't profited personally by discrepancy in the bank's funds," saaid Attorney C: F. Con nolly, whom Shanahaan authorized to make statement for him.


Article from The Omaha Morning Bee, The Omaha Daily News, May 8, 1927

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Article Text

Depositors Win 1 in Ralston Case Guaranty Fund Relieved of $44,000 Claims in Other Decisions. Lincoln. May The state guaranty fund will be required to pay approximately $48.000 and will relieved from paying approximately $44,000 in claims resulting from bank fallures, opinions handed down Saturday by the state supreme court. The suit involving the largest claim which was lost by the guaranty fund was one resulting from the failure of the Citizens State bank of Ralston. depositor sought to recover $21 144.91 on deposit. The claim opposed by the bank receiver on the ground that more than the legal rate of interest had been paid on the deposits. The district court of Douglas county ordered the claim paid out of the guaranty fund. The supreme court affirmed this decision. Judgments of lower courts were affirmed without opinions in eight other cases, seven of which involved claims resulting from failure the Farmers State bank of Dix Lower court decisions in favor of the guaranty fund which were affirmed by the supreme court involved the following claims: T. Stroud, $5,199.31 Jackson brothers, $10,373: Bekins Van and Storage company. $2,079: State Bank of Omaha, These claims were allowed as general claims. but are not to be paid out of the guaranty fund. claim of Olive Roberts for $7,230 allowed against the guaranty fund, another for $2,584 disallowed. The claim of George A. Roberts for $9,868 was disallowed. while another for $3,084 was allowed.


Article from The Culbertson Progress, July 11, 1929

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Article Text

COUNTY IS NOT DEPENDING ON RIVERS TO SUPPLY WATER FOR CROPS County Reported Having Irrigation Systems By OLE BUCK reported that Buffalo county has 500 irrigation pumps in operation. This system of irrigation also in other sections of use some the state. Ditch irrigation is the general use in the west system end the state. Last week this compendium of formation stated that Harmon secretary of reappointed as the board of parols and pardons. The fact that he was reappointed. According to the assessor's returns and trucks in Adams automobiles worth more than the live county are stock the county. They represent about of the county's ible Their average value property. around $250 each. The figures show 13,007 horses and mules 15,825 hogs, 1262 sheep, and dozen poultry. Failed banks at Ralston, Spring Ranch, Bennington, Wolbach, Adams, Belgrade, Ansely, Boelus, and Benson the first to receive attention from the investigators. The names made public those who have information that may help the auditors present it. The plan of having field men investirumors, but has not been In the future the work satisfactory. of the field men will be based upon the findings of the auditors. Mrs. R. Benson, the member of the board of control, assumed her duties the first of the month. Nebraska ranked fourth in the amount of creamery butter produced in May. Minnesota, Iowa and consin were the leaders. first four months of During the year Nebraska people bought 15,044 automobiles. Ford lead the list by strong margin. Next came the Chevrolet, Whippet, Pontiac, Dodge and Buick. The Attorney general is indiginant because rumor circulated that had patched truce with Omaha gamblers. He there nothing says One of the daily papers member of the gamblers' union Omaha has missed meal since the ruckus started. The collection of gasoline tax only one of the regular jobs treasurer's office. He the state he dosen't believe in "bureaus" divisions" he has no intention of using special designation for that work. Dr. Bass enjoyed brief vacation his former home in Broken Bow before assuming his duties as secretary to the In four years governor. service he has taken only three weeks vacation. Gounty and school teachers will have an exhibit of vitalized agriculture at the state fair this fall. The engineering committee, pointed by the governor to investigate and make survey of the water the state has begun liminary work. An appropriation of made to cover the The long standing dispute over right of way for the DLD highway has been settled, and that section the road will now be built. Twentyright angles turns will be minated between Cambridge and Indianola. When this section is completthe road will be graveled the entire distance across the Returns from 17 counties show increase of in the value of intangibiles listed for taxation. Attorney general says: There law prohibiting Sunday dances outside of incorporated cities and towns, that members of school boards may not sell supplies of any their districts, that city and village trΓ©asures must published itemized financial statements once each year. that ifthey fail to do at the time specified by the law they may do later, that taxation of church depends the use to which upon put and not upon ownership, and and An average of inquiries year are received the attorney general for information legal subjects. No wonder he has His interpretations stands until by the courts. lawyer's idea of what constitutes illustrated the other day when document bearing that name, and consisting of 365 printed pages, filed in the supreme court. The increase in gasoline tax has had no effect upon consumption sofar, except to cause power farmers to stitute kerosene in the machines. Even with this exception collections par with collections under the rate. The president of Omaha education is quoted as saying that propaganda shall be taught the schools of that city. The state superintendent says the law requirinstruction regarding the effects to all sections of the state and he will act accordingly. The first information given out about audit of failed bank lates to the Citizens State Bank of Ralston. The auditors says the failures caused by illegal of funds by the president. He had notes of himself and wife in the bank to the extent of almost double the capital stock. Criminal prosecution started against him at the time, but he was not convicted. It is possible that the statute of limitations has against further action, but attempt is being made to find something that can be done. Mr. Shallenberger is very criticial of the bankdepartment because of the way handled this bank. Custody of the capital building was transfered to Dan Swanson, state land commissioner, the first of the month instead until the new law takes effect. This was desirable of the monthly payroll. Dan inaugurated his insumbency by starting housecleaning campaign. The office walls are all painted will not be difficult to clean them. The Union Pacific has jumped into the bus business on large scale by purchasing the Cornhusker lines, which operate over large portion of the state, and into adjoining states. This makes the Burlington and Union Pacific the principal owners of bus transportation in the state. Last winter an attempt was made enact law levying tax on malt extract. Tennessee The first month's revenue amounted to $15,000. Objection was made the adoption of such law in Nebraska because, was said, would be tentative recognition of home brewing. There fewer hens on farms than year ago, but more young chickens. The custom of hatching chickens by commercial hatcheries seems to growing. These plants has increased their capacity 15 per cent since last More than 22,000 farm flocks year. reported, with an average number of 74 each. Egg production per hen increasing. This is from federal and state reports covering north central states. A recent decision of the supreme court in Union Pacific case sets the doctrine that substantial share of responsibility rests upon automobile drivers when they get in the pathway of train. Jones, lobbyist in bank matters during the legislative session and later special investigator in the bank audit department, has been lieved from duty. It is said bankers objecting to his activities. On the other hand is said that change in plans for handling work made his services unnecessary. The value of live stock trucked into Omaha in one day recently was $520,000. Now that the railroads are getting into the bus business strongly is predicted that their next move will be to get into the trucking game. Five more counties report an tangible tax gain of close million dollars. The total increase for the 22 counties that have reported about millions. Four hundred and one men and women were arrested in Lincoln ing the month of June, an increase of more than hundred over May. The court decides that supreme property and parental qualifications still for those who are necessary would vote at school elections. The court affirmed the fines of two Keith who convicted of county public road. plowing up This Nebraska farmers saved year approximately five million pigs, about less than year ago. The state general fund tains $2,024,852, which believed be the largest amount ever in that fund at time. No fund any other- fund for money borrowed transferred. Tax Back Page)


Article Text

BROWNELL DISCHARGED AS BANK RECEIVER Brownell was discharged receiver of the Citizens State bank Ralston, American State bank Omaha, Bank of Waterloo and Bennington State bank by District Judge Charles Foster, orders signed Saturday. These bank- liquidations are complete.