gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f10b59b6a8f1de2c
Response Measures
None
Description
State Banking Department took charge; receiver H.C. Skarie later appointed and pursued liquidation.
Events (3)
1.January 16, 1924Run
Cause
Macro News
Cause Details
Widespread banking failures and national withdrawals made it impossible to withstand heavy withdrawals.
Measures
Representative of the State Banking Department to examine and take charge; plans for reorganization or liquidation.
Newspaper Excerpt
Owing to a heavy run on the bank, the Citizens State Bank of Culbertson was forced to close its doors on January 16, 1924.
Source
newspapers
2.January 16, 1924Suspension
Cause
Government Action
Cause Details
Closed after heavy run and placed under examination by the State Banking Department for reorganization or liquidation.
Newspaper Excerpt
On the day following the closing of the State Bank the Citizens State Bank did not open for business...
Source
newspapers
3.May 21, 1925Receivership
Newspaper Excerpt
H. C. Skarie, as Receiver of The Citizens State Bank of Culbertson, Montana, a corporation, Plaintiff, ... (Notice of Sheriff's Sale).
Source
newspapers
Newspaper Articles (14)
1.January 18, 1924The SearchlightCulbertson, MT
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Article Text
Doors of Both Banks Closed
Owing to a constant withdrawal of funds during the fall and winter the State Bank of Culbertson did not open its doors on Monday, January 14th. A representative of the State Banking Department is making a thorough examination and plans for reorganization or liquidation will be carried out as soon as the examination is completed.
On the day following the closing of the State Bank the Citizens State Bank did not open for business and as a result Culbertson is left without banking facilities. Business proceeds as usual all with a firm conviction that the above is but a temporary inconvenience.
A report of the directors of the Citizens State Bank follows:
Owing to a heavy run on the bank, the Citizens State Bank of Culbertson was forced to close its doors on January 16, 1924.
The present banking failures throughout the country today has made it a very hard matter to withstand withdrawals and demands as they are being made and it is impossible to face a run of this nature.
The representative of the State Banking Department will take charge and the affairs of the bank gone over thoroughly and such plans for reorganization or liquidation to the depositors will be arranged on the completion of his report.
We do not know, at this time, how long this will take but the public and depositors can rest assured that everything will be done to arrange matters as soon as possible.
Citizens State Bank of Culbertson.
Board of Directors.
Phone the news to 123.
CLOSES SECOND TIME WITHIN TWO YEARS Culbertson, Jan. -Owing to a NORTHRUP PLEADS constant withdrawal of funds during the fall and winter the State Bank of Culbertson did not open its doors GUILTY TO THEFT on Monday, January 14th. A representative of the State Banking Department is making a thorough exMedicine Lake Man Appears Before amination and plans for reorganizaJudge Comer and Receives Senttion or liquidation will be carried out ence of From 3 to 6 Years. as soon as the examination is completed. John Northrup, who was placed in This is the second time within the jail some time ago on the charge of past two year that the above bank being implicated in the stealing of has closed its doors. automobiles at Medicine Lake, plead On the day following the closing guilty before Judge Camer last Wedof the State Bank. the Citizens State nesday and was sentenced to three to Bank did not open for business and six years in the state penitentiary at as a result, Culbertson is left without Deer Lodge. banking facilities. Business proceeds Due to the efforts of Sheriff Salisas usual but business is very much bury the auto thieves of Sheridan inconvenienced by the sudden stopcounty are being apprehended one page of the general flow of currency. by one and it is reported that there Owing to a heavy run on the bank, will be more arrests follow, until the the Citizens State Bank of Culbertson gang of auto thieves which have been was forced to close its doors on Januoperating in this county for the past ary 16, 1924. year have been cleaned up. The representative of the State Banking Department will take charge and the affairs of the bank gone OVJ.J. CARROL HOME er thoroughly and such plans for reorganization or liquidation to the depositors will be arranged on the comBURNS FRIDAY pletion of his report. Culbertson has been hard hit by this sudden failure of the two banks Five Room House of C. C. Carrol, of the town and many people are Situated 11 Miles Southwest of wondering how they are going to Plentywood Completely Destroyed meet their obligations for the rest of By Fire-Loss Estimated at About the winter. Business has received a $2,000.00. hard blow as a great amount of the cash money of the town was carried Last Friday morning, while Mr. in the banks and is new tied up or Carrols was doing chores in the barn, sunk in those institutions. None of his house, located on the farm, 11 the depositors are able to see the miles southwest of Plentywood caught great Republican cry of four years fire from what is supposed to have ago, "Back to Normalcy." been an over-heated stove and burned
CLOSES SECOND TIME WITHIN TWO YEARS
Culbertson, Jan. 18.—Owing to a constant withdrawal of funds during the fall and winter the State Bank of Culbertson did not open its doors on Monday, January 14th. A representative of the State Banking Department is making a thorough examination and plans for reorganization or liquidation will be carried out as soon as the examination is completed.
This is the second time within the past two year that the above bank has closed its doors.
On the day following the closing of the State Bank, the Citizens State Bank did not open for business and as a result, Culbertson is left without banking facilities. Business proceeds as usual but business is very much inconvenienced by the sudden stoppage of the general flow of currency.
Owing to a heavy run on the bank, the Citizens State Bank of Culbertson was forced to close its doors on January 16, 1924.
The representative of the State Banking Department will take charge and the affairs of the bank gone over thoroughly and such plans for reorganization or liquidation to the depositors will be arranged on the completion of his report.
Culbertson has been hard hit by this sudden failure of the two banks of the town and many people are wondering how they are going to meet their obligations for the rest of the winter. Business has received a hard blow as a great amount of the cash money of the town was carried in the banks and is now tied up or sunk in those institutions. None of the depositors are able to see the great Republican cry of four years ago, "Back to Normalcy."
NORTHRUP PLEADS GUILTY TO THEFT
Medicine Lake Man Appears Before Judge Comer and Receives Sentence of From 3 to 6 Years.
John Northrup, who was placed in jail some time ago on the charge of being implicated in the stealing of automobiles at Medicine Lake, plead guilty before Judge Comer last Wednesday and was sentenced to three to six years in the state penitentiary at Deer Lodge.
Due to the efforts of Sheriff Salisbury the auto thieves of Sheridan county are being apprehended one by one and it is reported that there will be more arrests follow, until the gang of auto thieves which have been operating in this county for the past year have been cleaned up.
J. J. CARROL HOME BURNS FRIDAY
Five Room House of C. C. Carrol, Situated 11 Miles Southwest of Plentywood Completely Destroyed By Fire—Loss Estimated at About $2,000.00.
Last Friday morning, while Mr. Carrols was doing chores in the barn, his house, located on the farm 11 miles southwest of Plentywood caught fire from what is supposed to have been an over-heated stove and burned
4.January 25, 1924The Medicine Lake WaveMedicine Lake, MT
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Article Text
BOTH CULBERTSON BANKS CLOSED
Owing to a constant withdrawal of funds during the fall and winter the State Bank of Culbertson did not open its doors on Monday, January 14th. A representative of the State Banking Department is making a thorough examination and plans for reorganization or liquidation will be carried out as soon as the examination is completed.
On the day following the closing of the State Bank the Citizens State Bank did not open for business and as a result Culbertson is left without banking facilities. Business proceeds as usual all with a firm conviction that the above is but a temporary inconvenience.
A report of the directors of the Citizens State Bank follows:
Owing to a heavy run on the bank, the Citizens State Bank of Culbertson was forced to close its doors on January 16, 1924.—The Searchlight.
5.May 21, 1925The Wolf Point HeraldWolf Point, MT
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Article Text
# NOTICE OF SHERIFF'S SALE
In the District Court of the Twentieth Judicial District of the State of Montana, in and for the County of Roosevelt.
H. C. Skarie, as Receiver of The Citizens State Bank of Culbertson, Montana, a corporation, Plaintiff,
6.February 16, 1927The Great Falls LeaderGreat Falls, MT
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Article Text
COURT UPHOLDS BANK RECEIVER
Helena Feb. 16 long the district court handling the 11quidation of a closed state bank 14 satisfied that the assets of the bank are insufficient to pay its liabilities, it is justified in ordering the receivto collect stockholders' liability the supreme court says. The judgment of the district court for Roosevelt county in the action of H. C. Skarle, receiver of the Citizens State bank of Culbertson, against Peter Marron. is affirmed The receiver did not need to wait until the bank's assets had been converted Into cash and applied to the payment of claims, the appellate court says.
Bank Receiver May Assess Stockholders Any Time, Says Court
Helena, Feb long as the district court handling the liquidation of closed bank is satisfied that the assets of the bank are insufficient to pay liabilities, is justified in ordering the receiver to collect stockholders' liabilities, the court ruled Tuesday The judgment the district court for Rooseve county the action of H. Skarie, receiver of the Citizens' State bank of Culbertson against Peter Marron is affirmed The receiver did not need wait until the bank's had been converted cash and applied to the payment of claims, the appellate court
8.February 18, 1927The Wolf Point HeraldWolf Point, MT
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Article Text
LIABILITY DECIDED IN COURT DECISION Helena, Feb. 15.-So long as the district court handling the liquidation of a closed state bank is satisfied that the assets of the bank are insufficient to pay its liabilities, it is justified in ordering the receiver to collect stockholders' liability the supreme court says today. The judgment of the district court for Roosevelt county in the action of H. C. Skarie, receiver of the Citizens State Bank of Culbertson against Peter Marron, is affirmed. The receiver did not need to wait until the bank's assets had been converted into cash and applied to the payment of claims, the appellate court says.
Supreme Court Says, Peter Marron Liable Helena, Feb. 15.-So long as the district court handling the liquidation of a closed bank are insufficier t to pay its liabilities, it is justified in ordering the receiver to collect stockholders' liability, the supreme court says. The judgment of the district court for Roosevelt county in the action of H C. Skarie, receiver of the Citizens State bank of Culbertson, against Peter Marion, is affirmed. The receiver did not need to wait until the bank's assets had been converted into cash and applied to the payment of claims, the appellate court says.
10.November 11, 1927The Wolf Point HeraldWolf Point, MT
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Article Text
# NOTICE OF SHERIFF'S SALE
# OF REAL PROPERTY
In the District Court of the Twen-tieth Judicial District of the State of Montana, in and for the County of Roosevelt.
Lethe B. Morrison, Plaintiff
VS
Emma Weist, formerly Emma Grund, and the Citizens State Bank of Culberston, a corporation, and H.C. Skarie as Receiver of the Citizens State Bank of Culbertson, a corporation, Defendants
NOTICE is hereby given, that I, the undersigned Sheriff of
11.November 18, 1927The Wolf Point HeraldWolf Point, MT
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Article Text
Lethe B. Morrison, Plaintiff vs Emma Weist, formerly Emma Grund, and the Citizens State Bank of Culberston, a corporation, and H.C. Skarie as Receiver of the Citizens State Bank of Culbertson, a corporation, Defendants NOTICE is hereby given, that I, the undersigned Sheriff of Roosevelt County, Montana, pursuant to the Order of Sale in the decree of foreclosure entered in the above entitled action in the above entitled court, will on Saturday, the 3rd day of December, A. D. 1927, at the hour of Two 0'clock P. M. on said day, sell at public auction to the highest and best bidder for cash, in front of the Court House in the City of Wolf Point, Roosevelt County, Montana, the following described real property, to-wit:
12.November 25, 1927The Wolf Point HeraldWolf Point, MT
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Article Text
Lethe B. Morrison, Plaintiff
VS
Emma Weist, formerly Emma Grund, and the Citizens State Bank of Culbertson, a corporation, and H.C. Skarie as Receiver of the Citizens State Bank of Culbertson, a corporation, Defendants
NOTICE is hereby given, that I, the undersigned Sheriff of Roosevelt County, Montana, pursuant to the Order of Sale in the decree of foreclosure entered in the above entitled action in the above entitled court, will on Saturday, the 3rd day of December, A. D. 1927, at the hour of Two o'clock P. M. on said day, sell at public auction to the highest and best bidder for cash, in front of the Court House in the City of Wolf Point, Roosevelt County, Montana, the following described real property, to-wit:
13.December 2, 1927The Wolf Point HeraldWolf Point, MT
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Article Text
Lethe B. Morrison, Plaintiff vs Emma Weist, formerly Emma Grund, and the Citizens State Bank of Culbertson, a corporation, and H.C. Skarie as Receiver of the Citizens State Bank of Culbertson, a corporation, Defendants NOTICE is hereby given, that I, the undersigned Sheriff of Roosevelt County, Montana, pursuant to the Order of Sale in the decree of foreclosure entered in the above entitled action in the above entitled court, will on Saturday, the 3rd day of December, A. D. 1927, at the hour of Two 0'clock P. M. on said day, sell at public auction to the highest and best bidder for cash, in front of the Court House in the City of Wolf Point, Roosevelt County, Montana, the following described real property, to-wit:
14.March 14, 1930The Wolf Point HeraldWolf Point, MT
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CIVIL COURT ACTIONS Several civil matters have come up before Judge Paul this week. In the matter of the State VS. The Citizen's State Bank of Culbertson, H. C. Skarie receiver, the court signed an order approving the sale of the remaining assets of the bank. The court also signed a similar order in connection with the State Bank of Culbertson. Titles were quieted in the suit of A. E. Kelsey against Ole Sandness and in the suit of A. E. Kelsey against Schmide. Eric Moum was appointed 0.torney to defend Wm. Ledbetter. The charge is that of selling liquor to minors. Willard Butzlaff and Roy Curry have qualified as bondsmen in the case of the State against Robert McKenzie.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
