Citizens State Bank (Edgeley, ND)

Episode Information

Episode UID
77014171464
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7701417 routing
Routing Number
77-0141
Start Date
December 6, 1921
Location
Edgeley, North Dakota (46.359, -98.716)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a2d6c1fc21bfe3e8

Response Measures

None

Description

Newspaper texts use variant spellings 'Edgely/Edgley'; receiver was already in place and later assets advertised for sale.

Events (4)
1. December 6, 1921 Receivership
Newspaper Excerpt
Complaint was made to the state banking board late yesterday of the services of H. J. Oberman, receiver for the Citizens State Bank of Edgely. ... Oberman was named receiver on recommendation of O. F. Lofthus, former state examiner.
Source
newspapers
2. December 6, 1921 Suspension
Cause
Government Action
Cause Details
Bank was closed and placed in receivership by state banking authorities; complaints filed against the appointed receiver.
Newspaper Excerpt
Complaint was made to the state banking board late yesterday of the services of H. J. Oberman, receiver for the Citizens State Bank of Edgely.
Source
newspapers
3. November 15, 1922 Other
Newspaper Excerpt
Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: ... Citizens' State Bank, Edgeley, North Dakota. O. L. Engen, receiver, Fargo. (Herald Oct. 26-27; Nov. 2-3.)
Source
newspapers
4. March 12, 1925 Other
Newspaper Excerpt
Judgment of $9,000 ... obtained by O. L. Engen, as receiver of the Citizens State Bank of Edgeley, against the Medberry Farmers Equity Elevator ... was affirmed in a decision handed down by the supreme court.
Source
newspapers

Newspaper Articles (10)
1. December 6, 1921 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, December 6, 1921

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Article Text

PLAN TO JOIN RECEIVERSHIPS OF MANY BANKS State Guaranty Fund and Banking Board Would Reduce Number Employed AIM TO CUT EXPENSES Protest Made Against One Receivership Who is Called Before State Board Consolidation of receiverships of many closed banks in the state for the purpose of gaining economy and great er efficiency in handling their affairs is under consideration by the Guaranty Fund Commission and the State Banking Board, it was stated officially today. Under the proposed plan about 35 receivers would be eliminated and approximately 30 retained. In some cases, under the proposed plan, one receiver would have as many as five banks under his control, but in some isolated cases a receiver would have but one bank under his jurisdiction. Legal phases of the matter now are being investigated and when a report is completed the Guaranty Fund Commission again will be summoned in meeting to take up details of putting the proposed plan in operation. The decision follows conferences of the boards extending over several days. Under the proposed plan five closed banks in Renville county would bc placed under one receiver, who would employ collectors to aid in his work. All closed banks tributary to New England would be placed under one receiver. The consolidation would be carried as far as deemed practicable. Effect Reopenings A number of the closed banks, it is expected, will reopen in the near future and in these cases the receiverships would not be embraced in the consolidation. Another feature of the proposed plan is that salaries of the receivers would be fixed by the banking board. The statutory salary of a receiver is $10 a day. In most cases at present, it is stated, receivers are getting this salary, but not in all cases. The expense of receivership would be reduced considerably in saving upon salaries, it is stated. Complain of Receiver Complaint was made to the state banking board late yesterday of the services of H. J. Oberman, receiver for the Citizens State Bank of Edgley. A. G. Porter, Edgely attorney; W. E. Murfin, Fargo attorney, and Ralph Hall and Dr. L. B. Green presented the protests, saying that Oberman had not had much banking experience and was not qualified for the position. Oberman, an Ellendale resident, was named receiver on recommendation of O. F. Lofthus, former state examiner, it was said. The protéstants alleged the appointment was made for political reasons. The banking board will hold a hearing on Thursday, and the receiver will be summoned before the board.

2. December 6, 1921 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, December 6, 1921

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Article Text

RECEIVERSHIP CONSOLIDATION IS CONSIDERED Economy and Efficiency Would Result, it is Said, For Closed Banks. Bismarck, N. D.. Dec, 6.-Consolidation of receiverships of many closed banks in the state for the purpose of gaining economy and greater efficiency in handling their affairs is under consideration by the Guaranty Fund Commission and the State Banking board. it was stated officially today. Under the proposed plan about 25 receivers would be eliminated and ap. proximately 20 retained. In some cases, under the proposed plan. one receiver would have as many as five banks under his control, but in some isolated cases a receiver would have but one bank under his jurisdiction. Legal phases of the matter now are being investigated and when a report is completed the Guaranty Fund Commission again will be summoned in meeting to take up details of putting the proposed plan in operation. The decision follows conferences of the d boards extending over several days. Under the proposed plan five closed banks in Renville county would be y placed under one receiver. who would employ collectors to aid in his work. d All closed banks tributary to New In d England would be placed under one receiver. The consolidation would b6 is 11 carried as far as deemed practicable. h Some May Reopen. A number of the closed banks, it is expected, will reopen in the near future/and in these cases the receivere ships would not be embraced in the consolidated plan. Another feature of the proposed plan is that salaries of the receivers would be fixed by the banking Board. The statutory salary of a receiver is $10 a day. In most cases at present, it is stated, receivers are getting this salary, but not in (all cases. The expenses of receivership would be reduced considerably in saving upon salaries, it is stated. Kick Made at Edgeley. d Complaint was made to the state of banking board late yesterday of the in services of H. J. Oberman, receiver for g the Citizens' State Bank of Edgely. in A. G. Porter, Edgely attorney; W. H. a Murfin. Fargo attorney, and Ralph st Hall and Dr. L. B. Green presented al the protests. saying that Oberman had ot not had much banking experience and he ed was not qualified for the position aOberman, an Ellendale resident, was nnamed receiver on recommendation of O. F. Lofthus. former state examiner ed it was said. The protestants alleged he the appointment was made for politimcal reasons. The banking board wil id hold a hearing on Thursday, and the er receiver will be summoned before the ng board.

3. December 8, 1921 Jamestown Weekly Alert Jamestown, ND
Article from Jamestown Weekly Alert, December 8, 1921

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Article Text

CONSOLIDATION OF RECEIVERSHIP OF BANKS PROPOSED Guaranty Fund Commission Believe Move Will Make For Economy and Efficiency-Some - Receivers Would Have as Many as Five Closed Banks. Bismarck, N. D., Dec. 8-(Special) - Consolidation of receiverships of many closed banks in the state for the purpose of gaining economy and greater efficiency in handling their affairs is under consideration by the Guaranty Fund Commission and the State Banking Board it was stated officially today. Under the proposed plan about 25 receivers would eliminated and approximately 20 retained. In some cases, under the proposed plan, one receiver would have as many as five banks under his control, but in some isolated cases a receiver would have but one bank under his jurisdiction. Legal phases of the matter now are being investigated and when a report is completed the Guaranty Fund Commission again will be summoned in meeting to take up details of putting the proposed plan in operation. The decision follows conference of the boards extending OVer several days. Under the proposed plan five closed banks in Renville county would be placed under one receiver, who would employ collectors to aid in his work. All closed banks tributary to New England would be placed under one receiver. The consolidation would be carried as far as deemed practicable. A number of the closed banks, it is expected, will re-open in the near future and .in these cases the receiverships would not be embraced in the consolidated plan. Another feature of the proposed plan is that salaries of the receivers would be fixed by the banking board. The statutory salary of a receiver is $10 a day. In most cases at present, it is stated, receivers are getting this salary, but not in all cases. The expense of receivership would be reduced considerably in saving upon salaries, it is stated. Protest Aagainst Oberman Complaint was made to the state banking board late yesterday of the service of H. J. Oberman, receiver for the Citizens State Bank of Edgeley. A. G. Porter, Edgeley attorney W. H. Murfin, Fargo attorney, and Ralph Hall and Dr. L. B. Green, presented the protests, saying that Oberman had not had much banking experience and was not qualified for the position. Oberman, an Ellendale resident, was named receiver on rec. ommendation of O. F. Loftus, former state examiner, it was said. The protestants alleged the appointment was made for political reasons. The banking board will hold a hearing on Thursday, and the receiver will be summoned before the board.

4. December 15, 1921 The Ward County Independent Minot, ND
Article from The Ward County Independent, December 15, 1921

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Article Text

banks and interests of the depositors and creditors have been utterly neglected in many instances. Acting on instructions from the governor, who has discussed the matter with the members of the banking board, State Examiner Gilbert Semingson has requested the resignations of receivers of all closed banks; this request is accompanied by the information that they may file their applications anew, and those who are able to show a good record will have a chance to get their jobs back. A complete reorganization of the receiverships is planned for the purpose of expediting the work and prevent unnecessary expenditures. Complaints have been filed against several receivers. The banking board last week took up the case against H. J. Oberman, receiver of the Citizens State Bank of Edgely. It took the case under advisement.

5. October 26, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, October 26, 1922

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LEGÁL NOTICES BANK ASSETS FOR SALE Sealed blds for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley, North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton, Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford, New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith, North Dakota. C. F. Kellogg, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bide should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

6. October 27, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, October 27, 1922

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Article Text

LEGAL NOTICES BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers. State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota, O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank; Leith. North Dakota. C.F. Kellogs, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. CrocumState Bank, Crocus, North Dakota. Fred F Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen, receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kelfogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogs. receiver, Bismarck. Security State, Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. / Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal.

7. November 3, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, November 3, 1922

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LEGAL NOTICE BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank, Leith. North Dakota. C. F. Kellogg. receiver. Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver. Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer. North Dakota. C. F. Kellogg. receiver, Bismarck. Williston State Bank, Williston. North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal. Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton, North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

8. March 12, 1925 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, March 12, 1925

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JUDGMENT ON NOTE UPHELD IN HIGH COURT Supreme Court Also Rules in Several Other Cases Before It A judgment of $9,000, for a $5,000 note and $4,000 interest, obtained by o. L. Engen, as receiver of the Citizens State Bank of Edgeley, against the Medberry Farmers Equity Elevator, N. J. Paulson, A. H. Carow and other individuals, members of the board of directors of the elevator company, who did not appeal, was affirmed in a decision handed down by the supreme court. The court, in affirming the decision of District Judge M. J. Englert, held that "an irregular endorser of a negotiable promissory note is entitled to the rights of a regular endorser and that "a negotiable promissory note, payable in a named village, but without designating any particular place within the village, is sufficiently presented, so as to charge endorsers." Other decisions handed down today by the court include: Ellen Doyle and Agnes Reineke, plaintiffs and appellants, against William J. Doyle, defendant and respondent, an appeal from Ramsey county involving a conveyance of real estate, in which decision was for the respondent. Edla H. Fyten, plaintiff and respondent, vs. A. J. Cummins and C. M. English, defendants and appellants, an action to have a land purchase contract cancelled, in which decision in favor of the former was modified and affirmed. That pottion of the lower court's decision which gave Fyten recovery of $6,113.55 from A. J. Cummins was stricken out. The effort of Golden Valley countv to recover from E. J. Curtin and B. J. McKay on a depository bond, executed by the First National Bank of Beach, which the latter two signed as sureties, failed in the attempt to attach land in Iowa. The lower court's decision for the defendants was upheld, the court holding the attachment was unlawful.

9. March 16, 1925 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, March 16, 1925

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From LaMoure County O. L. Engen, as Receiver of Citizens State Bank of Edgeley, Plaintiff and Respondent, vs. Medberry Farmers Equity Elevator Company, a corporation, et al, Defendants. N. J. Paulson and A. H. Carow, Defendants and Appellants. (Syllabus by the Court.) 1. An irregular endorser of a negotiable promissory note is entitled to the rights of a regular endorser, under sections 6955-6959, C. L. 1913, (Secs. 70 to 74 Uniform N. I. Law), pertaining to presentment, protest, and notice of protest. 2. A negotiable promissory note, payable in a named village, but without designating any particular place within the ¡villagq, is sufficiently presented, so as to charge endorsers, when it is in the possession of a notary in the place named with authority to receive payment, and to protest it for non-payment, the maker not having any place of business or residence within the place named in the note. Appeal from the District Court of LaMoure County, Hon. M. J. Englert, Judge. Affirmed. Opinion of the Court by Johnson, J. A. G. Porter, Edgeley, N. D. and Hutchinson and Lynch, LaMoure, N. D. Attorneys for Defendant and Appellant. O. S. Gunderson and Conmy, Young, Burnett, and Emanuel Sgutt, Fargo, N. D., Attorneys for Plaintiff and Respondent. From Burleigh County Mrs. A. L. Thompson, Plaintiff and Respondent. vs. William M. Ba-

10. April 28, 1925 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, April 28, 1925

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# SUPREME COURT # MAY TERM WILL # OPEN ON MAY 6 The May term of the state supreme court will open on May 6. Twenty cases are on the calendar as follows: 1-First National Bank of McVille vs. Levi Cutru; motion to dismiss appeal. 2-State of North Dakota vs. Oscar Runny; order to show cause why appeal should not be dismissed. 3-State of North Dakota vs. Stanley Wasick and Louis Olson; order to show cause why appeal should not be dismissed. 4-John Nelson vs. L. C. Matthews; order to show cause why appeal should not be dismsised. 5-Stair & Pederson vs. Eva Hibbs. 6-Dalton National bank vs. Lena Johnson and Farmers' Elevator company. 7-Philip J. Young and John C. Young vs. Selzer Lumber company. 8-Charles A. Heinemeyer vs. Mercer county. 9-Peter Kronich vs. McLean county. 10-Joseph E. Rosatti vs. Common School District 95, Cass county. 11-C. L. Engen as receiver of the Citizens State bank of Edgely vs. Medberry Farmers Equity Elevator company. 12-State of North Dakota vs. Anna Cook. 13-North Dakota Trust company vs. City of Hankinson. 14-State of North Dakota vs. City of Hankinson. 15-Standard Oil company vs. W. J. Braun. 16-Estate of Gilbert Coughlin vs. Ella R. Coughlin, administrator of estate. 17-Effie I. Felch vs. S. A. Olsness, commissioner of insurance. 18-B. Anderson vs. C. M. Hanson. 19-State of North Dakota vs. Martin E. Mattson. 20-Schultz Brothers vs. E. M. Truax and John Greenup.