Weiser National Bank (Weiser, ID)

View Charter #8139 on SPMC View balance sheet

Episode Information

Episode UID
813901494
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
81390 national
Charter Number
8139
Start Date
June 21, 1924
Location
Weiser, Idaho (44.251, -116.969)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
94d821cb2a2baa6d

Response Measures

None

Receivership Details

Depositor recovery rate
22.2%
Date receivership started
1924-06-23
Date receivership terminated
1930-07-14
OCC cause of failure
Economic conditions
Share of assets assessed as good
11.8%
Share of assets assessed as doubtful
38.8%
Share of assets assessed as worthless
49.4%

Description

OCR variant 'Welser' appears in some articles; corrected to Weiser.

Events (4)
1. March 15, 1906 Chartered
Source
historical_nic
2. June 21, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended business in late June 1924 following failure/insolvency; assets later sold by receiver.
Newspaper Excerpt
The bank was suspended June 21, 1924.
Source
newspapers
3. June 23, 1924 Receivership
Source
historical_nic
4. June 23, 1924 Receivership
Newspaper Excerpt
The suit was the outgrowth of the failure of the Weiser National bank in June, 1924 ... sale of assets was held ... brought approximately $30,000, being for most part securities held by the bank at the time it suspended business. John H. Smith, receiver for the Weiser National bank ... ordered first dividend ... by the comptroller of currency has ordered the first dividend of 10 per cent to be paid depositors ... the bank was suspended June 21, 1924. (articles describing receiver actions and asset sale).
Source
newspapers

Newspaper Articles (7)
1. October 3, 1924 The Rathdrum Tribune Rathdrum, ID
Article from The Rathdrum Tribune, October 3, 1924

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Article Text

D F. Banks, state treasurer, IIceived a check for $18,256 72 from J. J. McCue. attorney for the United States Fidelity & Guaranty company, covering that company's liability for funds lost when the Welser National bank closed its doors recently. The state public utilities commission has ordered the O. W. Railway company to construct a spur track at Black Lake in Kootenai county in response to a petition by ratchers who claimed they had 00 facilities for loading cordwood, stulls, etc., for shipment. Senator Borah's name can legal's be considered as on the Progressive party nomination certificate, according to the ruling of Attorney General Conner. The senator's name bad been s'ricken off the list of nominers by some one after the convention, but is being replaced by affidavits. Verdict of acquittal for C F. Larson, Payette, former cashier of the Payette National bank, whose trial on au indictment charging witapplication and abstraction of funds and false reports to the comptroller of the currency started Sept. 18 in U. S. district court at Boise was returned by a jury Sept. 23. In a signed statement F. A. Jeter, secretary of state, says the 1925 legistature will be asked to change the motor vehicle law so as to eliminate the truck rate in licensing Ford runabouts which have a small box at the back. He says he will ask the governor to refund the $7.50 to each owner who paid truck license on such cars.

2. December 25, 1924 The Greenfield Vedette and the Dade County Advocate Greenfield, MO
Article from The Greenfield Vedette and the Dade County Advocate, December 25, 1924

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Article Text

Letters From Our Subscribers Weiser, Ida., Dec. 8, 1924.—The Vedette: Please find enclosed check for $2.00, for which please send me your paper for another year. The mail carrier comes past our place about nine o'clock, and we are especially glad to see him come on Monday morning, as that is the time we always get The Vedette — and then we make a rush for the old neighborhood news. We are having our first spell of winter; about three inches of snow in the last few days, but not very cold. We are farming and dairying, so we have a job, all right. We have a dairy association, and the Payette Co-operative creamery buys our cream, and the cream truck comes three times a week for cream. This is a great dairy country, and we understand the pay check for the Weiser Valley Dairymen's association amounts to $500 daily and there are three other cream stations besides in Weiser, as the old cow is the main standby since the banks went broke. The Weiser National bank closed its doors the last of June. One million, seven hundred and fifty thousand dollars were involved. Then on August first, the Weiser Loan and Trust company closed, or failed to open, and Weiser was left without a bank, and the money is still tied up, or gone. But in less than 30 days from the time of the failure of the loan and trust company, a new bank, the Weiser State bank, was doing business. Weiser is the county seat of Washington county, and has about 4,000 inhabitants. The city is located on the banks of Snake river, just below where Weiser river empties into Snake, and the valleys are mostly irrigated. It is a great fruit country, there being many ranches that produces fruits exclusively, while others raise grain, hay, spuds and sugar beets. There is quite a boost for raising head lettuce, and quite a bit has been shipped out and sold for a good price, but the expenses eat up most of the profits. There are two state highways across the county, one from east to west along Snake river, through Weiser and on down to Old's ferry, where you may cross over into Oregon; or you may cross on a bridge at Weiser and strike the Oregon state road two miles out, which is a fine road. My daughter, Bertha, is teaching school at Durkee, Oregon; Aden Rogers, our eldest son, is teaching at Rifle, Colorado, and the youngest one lives on and farm a part of my ranch here on Man creek. Golda Rogers Webb lives on a ranch next above us. Arzo Rogers was recently married, and is making his home on Man creek for the present. C. P. Ellis lives about two miles farther up the valley. These are all Dade county people, and are doing well. Man creek has a small valley that is irrigated with the water from the creek, and the hills on either side of the valley are dry farmed. P. E. Rogers.

3. January 14, 1925 The Idaho Statesman Boise, ID
Article from The Idaho Statesman, January 14, 1925

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Article Text

COURT HOLDS BOND INVALIDATED WHEN SURETIES RETIRE County Cannot Recover From Bank When One or More Guarantors Refuse to Continue, Says Judge Lee. Withdrawal of one or more sureties on a bond to cover deposits of a county in a bank cancels the bond according to a decision by Judge T. Bailey Lee of the Eleventh judicial district, handed down this week at Weiser in the suit of Washington county against the Weiser National bank, its receiver, and approximately 59 sureties on its bond. The case was one of four heard by Judge Lee, the others being decided in favor of the county where bonding companies were concerned. The case may be appealed to the state supreme court. It is understood, also, that the bonding companies have asked for a reopening of the other cases, due to a technical point in which the court held in the last case that a bond given to the county covers only such money as the county may prove title to. The suit involved approximately $132,000, representing money collected by the county treasurer for county, city, school and road districts, paid all at the same time, and later, according to the procedure, to be apportioned less a certain per cent for collection. The bank closed in 1923, and according to testimony at the trial, two of the sureties gave notice of withdrawal about 90 days previously to the bank's failure to resume business. It was the opinion of the court that the county treasurer should have taken steps immediately to transfer the funds from the bank.

4. September 29, 1926 The Idaho Statesman Boise, ID
Article from The Idaho Statesman, September 29, 1926

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Article Text

DEFUNCT WEISER BANK PAYING FIRST DIVIDEND has been made by John H. Smith, receiver of the Weiser National bank to the effect that the comptroller of currency has ordered the first dividend of 10 per cent to be paid depositors and that dividend checks are being issued on proper receipts. The bank was suspended June 21, 1924. HOLD FUNERAL SERVICES. services will be held the Robinson funeral chapel Wednesday afternoon at o'clock for Nicholas Fox, aged 93 years, who died Sunday morning the of his daughter, Mrs. Margaret Johnson, Thirteenth avenue and Third street north, the Rev. Butterworth, pastor of the Christian church, conducting the services. Mr. Fox is survived by five sons and three Mrs. Margaret Johnson and John Fox, both of Nampa; Fred Fox and Mrs. Bessie David, of California; Albert and Charles Fox of Iowa, Adam Fox of Minnesota and Mrs. J. R. Freidenger Pocatello.

5. December 31, 1926 The Idaho Statesman Boise, ID
Article from The Idaho Statesman, December 31, 1926

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BRIEF CITY NEWS Bank Receiver Here-E. E. Church, receiver the Weiser National bank, business visitor in Boise Thursday. He was caller at the federal court during Takes Homestead Nelson Thursday filed 40 acres of desert land in Payette county, located section 10, township north, range west. Loses Ames ported police Thursday that his light gray overcoat stolen sometime during Wednesday night from his home, State street Year's of the Columbian club will be home" members friends from afternoon. The past presidents will receive the guests by the officers Sisson E. Sisson of Portland, former commissioner of education for Idaho, who now tending the teachers' being held was regular luncheon of Boise Rotary club Thursday noon. Several teachers from guests the club. Upham Broadcasts H. Upham, the University Idaho, spoke by radio Thursday night the Boise high school station. His state wide Fourt, field for the division of the university, Prisoner Bound Over Mike Glavota, with the prohibition bound over Thursday United States district court by Wright Stacy, of the peace, the preliminary ing from the United States commissioner's Forward Construction ment of the federal mation fund by the New York irrigation was reported Thursday by officers of the district. This the total due from the district this year, and the first time in years, said, when there have Year's Eve Busiclub the Columbuilding this at o'clock. The and guests will attired mother daughter, and be special stunts evening 1mpressive watch party midnight. flashlight picture be taken at Collides With Street street car into the back car when stopped her machine right way approaching tomobile, Mrs. Manson Thursday. The accident happened Thursday afternoon Main street near Tenth. The tire carrier and fender on Mrs. Manson's car damaged. Accepted Minof 1612 North Fifth street, and Lloyd Hanson Clark, of Willow street, who for service and passed preliminary examinations here, have successfully passed the nal examination Lake, said William Hendry, recruiting officer Thursday. They Diego for naval service.

6. March 13, 1927 The Idaho Statesman Boise, ID
Article from The Idaho Statesman, March 13, 1927

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RECEIVER OF BANK WILL APPEAL CASE Former Officers of Defunct Weiser Bank Are Defendants in Action to Collect. An appeal will be taken from the decision 0 fthe United States district court in the case of John H. Smith, receiver for the Weiser National bank of Weiser against Herman Haas, George W. Nesbit and Bernard Haas, It was announced Saturday by counsel for the defendants, following a hearing before Judge C. C. Cavanah when an order of sale of the banks' assets was confirmed and a deficiency judgment totalling $248,000 e against the defendants. The sale of assets was held last week by Frank Breshears, United States marshal, and brought approximately $30,000, being for most part securities held by the bank at the time It suspended business. The deficiency judgment represents the difference between what the assets brought and the amount which former District Judge F. S. Dietrich held should be recovered, approximately $278,000. The decision of the court was handed down December 31, 1926. The suit was the outgrowth of the failure of the Weiser National bank in June, 1924, a little more than year after Its consolidation with the First Natlonal bank of Weiser. The three defendants were formerly officials of the First National, and were alleged to have entered an indemnity agreement which the bank's receiver claimed obligated the men for large sum which should go into the receivership's estate. others. The suit was to recover on a note. S. R. Miller was awarded judgment of $3135.18 against Carl A. McKimmy and others in a foreclosure proceeding over a note. Rollo C. Fry was awarded judgment in suit to quiet title to land in Ada county The defendants were Hiram Ames and others. The Boise Valley Packing company won judgment in its suit against John P. Gray and others to quiet title to land in Ada county. Judgment was entered in favor of the Federal Land Bank of Spokane in its suit against E. D. Shaw and others on an action to reçover money alleged due on note. The divorce action of Letisha A. Winn against Joseph W. Winn, which was filed in district court Thursday, was dismissed Saturday on motion of the plaintiff. POLICE COURT. Joe McCarthy and Pearl Prohl, arrested March 6 on statutory charges, were tried in police court Saturday and found not guilty. C. G. Young and Harry S. Bower, both charged with violations of the parking ordinance, were warned. O. F. Rankin and J. H. Fulner, separately charged with exceeding the speed limit, were each fined $10. N. P. Patterson, charged with speeding, was fined $6. Mrs. P. Tayler, John Rader and H. J. McGirr, all charged with violations of the parking ordinance, the first two forfeited $1 bond each and McGirr was fined $1: BUILDING PERMITS. G. H. Carbridge, to excavate basement and erect two flues and install a furnace at 1707 Idaho street at cost of $400. C. P. Wilson, to reroof frame dwelling at 1118 East Jefferson street at a cost of $275. Howard Day, to reroof frame dwelling at 2316 Woodlawn avenue at a cost of $250. UNITED STATES LAND OFFICE. Noah Minor, Weiser, Saturday filed a homestead application in the United States land office for 320 acres in section 25, township 12 north, range 6 west, Boise Meridian. REAL ESTATE TRANSFERS. John C. Nelson and Frances E. Nelson, oBise, to Laura Chaney, Boise, a 40-foot lot in block 116 original townsite of Boise; consideration $2200. INDUSTRIAL ACCIDENT BOARD. The board Saturday closed 26 claims for compensation under the terms of the workmen's compensation act. The following claimants received awards aggregating more than $100: Frank Taylor, Orofino, employed by L. R. Olson, $708; loss of thumb and two first fingers of left hand. J. C. Cook, Firth, employed by Ida-

7. March 15, 1927 Baker City Herald Baker City, OR
Article from Baker City Herald, March 15, 1927

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Receiver of Bank Will Appeal Case An appeal will be taken from the decision of the United States district court in the case of John H. Smith, receiver for the Welser National bank of Weiser against Herman Haas. George W. Nesbit and Bernard Haas, it was announe ed Saturday by counsel for the defendants, following hearing before Judge C. C. Cavanah when an order of sale of the banks' sets was confirmed and deficiency judgment totalling $248,000 entered against the defendants. The sale of assets was held last week by Frank Breshears, United States marshal, and brought approximately $30,000. being for most part securities held by the bank at the time it suspended busi ness. The deficiency judgment presents the difference between what the assets brought and the amount which former District Judge F. S. Dietrich held should be recovered. approximately $278000. The decision of the court was handed down December 31, 1926 The suit was the outgrowth of the failure of the Weiser -National bank in June 1924, little more than year after its consolidation with the First National bank Weiser. The three defendants were formerly officials of the First Nation al. and were alleged to have en tered an indemnity agreement which the bank's receiver claimed obligated the men for large sum which should go into the ceivership's