Citizens State Bank (Flaxton, ND)

Episode Information

Episode UID
77034271508
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
7703427 routing
Routing Number
77-0342
Start Date
August 12, 1925
Location
Flaxton, North Dakota (48.899, -102.392)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
82d1256ec5fbf7d0

Response Measures

None

Description

Bank was closed and placed in state receivership; multiple dividends paid by the state receiver over subsequent years.

Events (6)

1. August 12, 1925 Receivership
Newspaper Excerpt
L. R. Baird, as Receiver of Citizens' State Bank of Flaxton, North Dakota, a corporation, Plaintiff and Respondent, vs. Burke County ...
Source
newspapers
2. February 25, 1926 Other
Newspaper Excerpt
A 10 per cent dividend is being paid by the Citizens State bank of Flaxton ... announced today by L. R. Baird; receiver for closed banks.
Source
newspapers
3. January 17, 1927 Other
Newspaper Excerpt
Citizens State Bank, Flaxton, second dividend of 10 per cent.
Source
newspapers
4. March 10, 1928 Other
Newspaper Excerpt
Payment of a third dividend of 10 per cent to creditors of the Citizens State Bank of Flaxton was announced today by the state receiver of closed banks.
Source
newspapers
5. January 6, 1930 Other
Newspaper Excerpt
A 10 per cent dividend is being paid by the receiver of closed state banks to depositors of the Citizens State Bank of Flaxton, making a total of 40 per cent paid to them.
Source
newspapers
6. * Suspension
Cause
Government Action
Cause Details
Bank closed and placed in custody of the state receiver (state receiver administering closed bank).
Newspaper Excerpt
L. R. Baird, as Receiver of Citizens' State Bank of Flaxton, North Dakota
Source
newspapers

Newspaper Articles (5)

Article from The Bismarck Tribune, August 12, 1925

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Article Text

# SUPREME COURT From Burke County L. R. Baird, as Receiver of Citizens' State Bank of Flaxton, North Dakota, a corporation, Plaintiff and Respondent, vs. Burke County, a quasi-municipal corporation, et al, Defendants and Appellants. (Syllabus by the Court) 1. When the courts are called upon to determine and give effect to the legislative intention, it is proper to take notice of such contemporaneous history as led up to and probably induced the passage of the law, Sec. 7938, Subd. 60, C. L. 1913; to this end the court should place itself, as nearly as possible, in the situation of the legislature, in order to ascertain the necessity and probable object of the statute. 2. The construction of statutes is a judicial function; the action of the legislature of 1923, purporting to construe the statutes of 1917 and 1919 as legislative blunders, and therein attempting to give a meaning to words used by prior legislatures contrary to their ordinary and natural import, is not binding upon the courts. 3. The state constitution is a limitation, not a grant, of power; the legislature has full power of legislation, except as limited by that instrument and the Federal Constitution. Although the people have reserved legislative power, through the initiative and the referendum, the power of the legislature to act upon all proper subjects of legislation is wholly unchanged. Through the initiative, the people have provided against nonaction by the duly constituted representatives in the legislative branch; and through the referendum, an appeal may be taken di-


Article from The Bismarck Tribune, February 25, 1926

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Article Text

Banks at Flaxton and Cartwright Are * Paying Dividends Dividend payments to depositors in closed banks at Flaxton and Cart. wright were announced today by L. R. Baird; receiver for closed banks. A -10 per cent dividend is being paid by the Citizens State bank of Flaxton, and a 10 per cent dividend in,being paid by the First State bank of Cartwright. Both dividends are being paid through. J. P. Reeve, district manager, at Burlington, N. D.


Article from The Bismarck Tribune, January 17, 1927

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Article Text

DIVIDENDS TO BE PAID BY 10 CLOSED BANKS State Receiver Baird Announces Payments Through District Offices Dividends to be paid to the depositors in 10 closed banks were announced here today by L. R. Baird, state receiver of closed banks. Five dividends to be paid through the office of C. W. Conroy, district manager at Devils Lake, are: Security Bank of Oberon, a second dividend of 10 per cent; Security State Bank, Kensal, second dividend of 10 per cent; Farmers State Bank, Hesper, second dividend of 15 per cent; Karnak State Bank, second dividend of 20 per cent; Security State Bank, Brantford, a dividend of 10 per cent. Two dividends will be paid through the office of G. R. Van Sickle, district manager at Minot, as follows: Farmers and Merchants State Bank, Barton, 20 per cent; Towner State Bank, Towner, a second dividend of 30 per cent. Three dividends will be paid through the office of J. P. Reeve, district manager at Burlington, as follows: Farmers State Bank, Noonan, a second dividend of 20 per cent; Citizens State Bank, Flaxton, second dividend of 10 per cent; First State Bank, Lansford, second dividend of 10 per cent.


Article from The Bismarck Tribune, March 10, 1928

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Article Text

PAYING THIRD DIVIDEND Payment of a third dividend of 10 per cent to creditors of the Citizens State Bank of Flaxton was announced today by the state receiver of closed banks, bringing the total payment on this bank to 30 per cent. Payment is being made through J. P. Reeve, district manager for the receiver at Burlington.


Article from The Bismarck Tribune, January 6, 1930

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Article Text

FLAXTON BANK PAYS 10 P. C. A 10 per cent dividend is being paid by the receiver of closed state banks to depositors of the Citizens State Bank of Flaxton, making a total of 40 per cent paid to them. Payment is being made through J. P. Reeve, district manager for the receiver at Burlington.