First National Bank (Harlowton, MT)

Episode Information

Episode UID
927001478
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
92700 national
Charter Number
9270
Start Date
February 20, 1923
Location
Harlowton, Montana (46.436, -109.834)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d65ee23a3a9b3e8c

Response Measures

Full suspension

Receivership Details

Depositor recovery rate
14.5%
Date receivership started
1923-03-07
Date receivership terminated
1929-03-05
OCC cause of failure
Economic conditions
Share of assets assessed as good
14.1%
Share of assets assessed as doubtful
15.6%
Share of assets assessed as worthless
70.3%

Description

The articles describe a gradual run ('gradually withdrawing funds out of proportion to the receipts') leading to suspension and permanent closure.

Events (5)

1. November 10, 1908 Chartered
Source
historical_nic
2. February 20, 1923 Run
Cause Details
Gradual withdrawal of funds out of proportion to receipts
Newspaper Excerpt
inability of the bank to meet the demands of depositors who had been gradually withdrawing funds out of proportion to the receipts
Source
newspapers
3. February 20, 1923 Suspension
Cause Details
Inability to meet depositor demands due to heavy withdrawals
Newspaper Excerpt
This bank suspended business February 20, 1923 on account of the inability of the bank to meet the demands of depositors
Source
newspapers
4. March 7, 1923 Receivership
Source
historical_nic
5. March 7, 1923 Receivership
Newspaper Excerpt
prior to the assumption of control by the receivership in the hands of Mr. J. A. Gamble
Source
newspapers

Newspaper Articles (6)

Article from The Times Clarion, May 29, 1924

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Article Text

DEPOSITORS TO RECEIVE A DIVIDEND RECEIVER OF FIRST NATIONAL BANK AUTHORIZED TO PAY A DIVIDEND TO DEPOSITORS Joseph A. Gamble, receiver of the First National Bank of this city, has been authorized by the Comptroller of the currency to pay the depositors a first dividend of six and one-half per cent. The dividend checks will be ready for delivery the latter part of this week. This first dividend represents the amount accumulated to the present time by the management and will be followed by others. Mr. Gamble is devoting his time to the interests of the large number of depositors of the bank and is meeting with gratifying success in that particular. His work has received the unqualified approval of the department and progress is being made along the most efficient lines towards the ultimate winding up of the affairs of the institution as soon as it is possible to be done. This bank suspended business February 20, 1923 on account of the inability of the bank to meet the demands of depositors who had been gradually withdrawing funds out of proportion to the receipts. National Bank Examiner Irwin D. Wright, assisted by F. J. McCullough of the Federal Reserve, temporarily assumed charge of the institution, prior to the assumption of control by the receivership in the hands of Mr. J. A. Gamble. Over $500,000 in assets were carried by the bank which had a capital and surplus of $85,000. ——BUY A POPPY—— Any Fisherman to His?? (Dedicated to Don Grivetti) Wish the wind was in the south, Then the fishin' would be right. (Hold this leader in your mouth, Wet it good and—gosh, don't bite!) Careful? Lordy, woman, gee! These poor fish have brains—they'll see Us first—and disappear— Never'll land one in a year. Guess I'll try a Grizzly King, Had good luck with one last spring. Holy mackerel! Gotta rise! Now don't stand and criticize! Grab the net and wade—'taint deep; Quick, slow poke, good night, don't weep! Golly, watch him run and dive. He's a big 'un—man alive! There, now gently—he's a winner, Weighs three pounds or I'm a sinner (Bless your heart, old sweet patoots, Sure, I'll buy you some new boots.) Glad you picked a Walton keen In preference to a Jelly-bean?


Article from Lewistown Daily News, June 2, 1924

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Article Text

HARLOW BANK PAYS ITS DEPOSITORS DIVIDEND HARLOWTON, May 31.—Joseph A. Gamble, receiver of the First National Bank of this city, has been authorized by the comptroller of the currency to pay the depositors a first dividend of six and one-half per cent. The dividend checks will be ready for delivery the latter part of this week. This first dividend represents the amount accumulated to the present time by the management and will be followed by others. Mr. Gamble is devoting his time to the interests of the large number of depositors of the bank and is meeting with gratifying success in that particular. His work has received the unqualified approval of the department and progress is being made along the most efficient lines towards the ultimate winding up of the affairs of the institution as soon as it is possible to be done. This bank suspended business February 20, 1923 on account of the inability of the bank to meet the demands of depositors who had been gradually withdrawing funds out of proportion to the receipts. National Bank Examiner Irwin D. Wright, assisted by F. J. McCullough of the Federal Reserve, temporarily assumed charge of the institution, prior to the assumption of control by the receivership in the hands of Mr. J. A. Gamble. Over $500,000 in assets were carried by the bank which had a capital and surplus of $85,000.


Article from Great Falls Tribune, June 3, 1924

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Article Text

Harlowton Bank Pays Dividend Special to The Tribune. Harlowton, June 2.—Joseph A. Gamble, receiver of the First National bank of this city, has been authorized by the comptroller of the currency to pay the depositors a first dividend of 6 1-2 per cent. This first dividend represents the amount accumulated to the present time by the management, and will be followed by others. Mr. Gamble is devoting his time to the interests of the large number of depositors of the bank and is meeting with gratifying success in that particular. His work has received the unqualified approval of the department and progress is being made along the most efficient lines toward the ultimate winding up of the affairs of the institution as soon as it is possible to be done. This bank suspended business February 20, 1923, on account of the inability of the bank to meet the demands of depositors who had been gradually withdrawing funds out of proportion to the receipts. National Bank Examiner Irwin D. Wright, assisted by F. J. McCullough of the federal reserve, temporarily assumed charge of the institution prior to the assumption of control by the receivership in the hands of J. A. Gamble. Over $500,000 in assets were carried by the bank which had a capital and surplus of $85,000.


Article from The Times Clarion, November 27, 1924

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Article Text

SHERIFF'S SALE Wells-Dickey Company, a corporation, Plaintiff vs. Jesse E. Langston and Dora V. Langston, his wife; Joseph A. Gamble, receiver of the First National Bank of Harlowton, a corporation; F. H. Kauffman; Urner Mercantile Company, a corporation and Ryan Fruit Company, a corporation, Defendants To be sold at Sheriff's Sale, on the 6th day of December, 1924 at 12 o'clock M. at the front door of the Court House, in the City of Harlowton, County of Wheatland, State of Montana, to the highest bidder for cash in hand the following described property, to-wit: The east half of the northeast quarter (E1/2NE1/4) the southeast quarter (SE1/4) and the south half of the southwest quarter (S1/2SW1/4) of section ten (10) in township six (6) north of range fourteen (14) east of the Montana Meridian. Together with all and singular the tenements, hereditaments and appurtenances thereunto belonging or in anywise appertaining. Dated at Harlowton, Mont., November 10th, 1924. L. W. Clark, Sheriff By J. A. Ehler, Under Sheriff Maddox and Church, Attorneys for Plaintiff, Great Falls, Montana.


Article from The Billings Gazette, March 14, 1925

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Article Text

Call Bank Receiver To Washington Job Harlowton. March (Special) Joseph A. Gambel. receiver of the First National bank of this city and at Moore, received word last from the comptroller directing him Washington immediately to assist in the handling of receiverships of national banks The comptroller stated In his telegram that he might need Mr. Gamble's Mr. Gambel left immediately for Washington


Article from The Times Clarion, April 22, 1926

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Article Text

SHERIFF'S SALE Company, corporation, Plaintiff Fred P. Marrs and Eula F. Marrs, his wife; the National Bank of Lewistown, corporation; John H. Freeser; Hunt, as Treasurer of the City of Harlowton, Nels Nelson; Joseph Gamble, as Receiver of the First National Bank of Harlowton, a corporation: Joseph A. Herron; and Williams, as Receiver of the First National Bank of Fergus County, Montana. Defendants To be sold at Sheriff's Sale, on the 30th day of April 1926 at 12 o'clock M. at front door of the Court House in the City of Harlowton, County Wheatland, State of Montana, to the highest bidder for cash in hand, the described property, to-wit: The East half of the northeast quarter northeast quarter of southeast quarter (NE%SE%), northwest quarter of the northeast quarter of section ten (10) all of section eleven (11), in township eight (8) north of range fourteen (14) east of the Montana Meridian. Together with all and singular the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. Dated at Harlowton, Montana, April 2, 1926. L W. Clark, Sheriff Ehler, Under Sheriff Maddox and Church, Attorneys for Plaintiff, Great Falls, Montana