Philipsburg State Bank (Philipsburg, MT)

Episode Information

Episode UID
93022071489
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
9302207 routing
Routing Number
93-0220
Start Date
January 18, 1924
Location
Philipsburg, Montana (46.332, -113.294)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5edf16b9e113fc31

Response Measures

None

Events (2)
1. January 18, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed (suspended) on Jan 18, 1924 due to insolvency/need for liquidation; receiver later appointed.
Newspaper Excerpt
The bank closed January 18, 1924 and I assumed charge of the affairs on March 10 1924.
Source
newspapers
2. March 10, 1924 Receivership
Newspaper Excerpt
H. A. Featherman was named by Judge Winston as receiver for the Philipsburg State bank. ... I assumed charge of the affairs on March 10 1924.
Source
newspapers

Newspaper Articles (8)
1. March 11, 1924 The Butte Miner Butte, MT
Article from The Butte Miner, March 11, 1924

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PHILIPSBURG PHILIPSBURG, March 10. (Special)—Mrs. F. Tinklepaugh and Mrs. H. Conn, who have been visiting with friends and relatives the past few days, left for their homes in Hall this morning. Angus Murray was a business visitor to the capitol city Friday. Mr. and Mrs. H. A. Murphy left for Butte Thursday for a few days' visit with friends and relatives. F. G. Haverty left for Butte Wednesday morning to see the automobile show. Mrs. Wally Frost and Mrs. J. R. Page returned Saturday from Butte, where they spent a couple of days visiting and shopping. Mrs. Daigle and Mrs. Sherberg returned Saturday from Missoula, where for the past few days they had been visiting relatives. Mrs. A. Anderson was a passenger for Missoula Friday morning. Mrs. E. Terry is up from Garnet for a few days' visit with relatives. Mrs. Melvin Johnson left Friday morning for Wallace, Idaho, where she will join her husband, who has secured a position as machinist with one of the railroad companies there. Mrs. M. Malcolm was a passenger for Missoula Saturday. Mrs. Pete Perreaut returned Saturday from Missoula, where she had gone to attend the funeral of her son-in-law. She was accompanied by her daughter and little grandson. H. A. Featherman was named by Judge Winston as receiver for the Philipsburg State bank. The judge called a meeting of the stockholders and depositors and it was upon their recommendation that he appointed Mr. Featherman. The women of the Pocahontas lodge will give their card party Thursday evening. Light refreshment will be served to all players. On Thursday, March 13, a tea will be given at the home of Mrs. H. A. Featherman, who will be assisted by Mrs. R. S. Blitz, Mrs. Fred Bowen and Mrs. A. E. Fritzberg. The Ladies' Aid divided its membership into committees of five, each committee making itself responsible for some entertainment. Refreshments will be served beginning at 2:30 p. m. The members, friends and general public are invited to attend.

2. June 13, 1924 The Philipsburg Mail Philipsburg, MT
Article from The Philipsburg Mail, June 13, 1924

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DISTRICT COURT NEWS Judge G. B. Winston held a term of court in Philipsburg last week, when the following business was transacted: State of Montana vs. Wm. A. Coffron. On application of the county attorney, the information against the defendant was dismissed without prejudice. Defendant was charged with being implicated in the attempted burglary of the Granite County Bank at Hall last October. The defendant was released and was immediately re-arrested and taken to Salt Lake City on a charge of highway robbery. State vs. Maurice Thompson. The defendant appeared for arraignment upon information charging him with removing mortgaged property from Granite county without the written consent of the mortgagee, Drummond State Bank. Being unable to employ counsel, the Court appointed Attorney J. J. McDonald to defend him. Defendant pleaded not guilty and was discharged under bail to await trial. Federal Land Bank of Spokane vs. Frank I. Lindsey et al. Default of defendants entered; plaintiff then introduced its evidence and a decree of foreclosure of mortgage was entered. P. McGurk vs. M. L. Bashor. Default of defendant entered. Plaintiff then introduced his proofs and a judgment by default was entered. The action was based on a note given the plaintiff by the defendant. David Dahlberg vs. Mary B. Goldberg. Plaintiff's motion to strike certain parts of defendant's answer submitted to the Court on May 25th was overruled and plaintiff granted 20 days to reply. State of Montana vs. Philipsburg State Bank. Receiver's report No. 1, for the two months ending May 10, approved by the Court. Receiver's petition No. 3, for an order of court for receiver to enforce stockholders' liability, set for hearing Thursday, June 26, at 1:30 p.m. In the matter of the application of Sarah A. Metcalf for an order fixing inheritance tax in re estate of Geo. Metcalf, deceased, amended order determining inheritance tax entered. Order directing payment of witness fees entered. Estate Frank D. Morse, deceased. Final account of administrator settled. Order determining inheritance tax, decree of distribution of estate, and final discharge of administrator entered. Administrator V. B. Morse and Attorney J. Miller Smith, Helena, were present on the hearing. Estate Geo. W. Walters, deceased. Report of public administrator of summary settlement of estate approved. Estate Mike Jurovich, deceased. Decree of settlement amended final account entered. (Continued on page four)

3. December 5, 1924 The Philipsburg Mail Philipsburg, MT
Article from The Philipsburg Mail, December 5, 1924

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Judge Winston Presides in District Court Doings The December term in the district court convened in Philipsburg on Tuesday, Judge George B. Winston presiding. The following list of jurors was drawn and ordered to appear Dec. 2 at 1:30 p.m. Andrew Anderson, Philipsburg; Eli Barney, James Bradley, W. D. Barrieth, Walter Brooks, David T. Bowen, L. M. Busbee, R. S. Blitz, Philipsburg; E. R. Burt, Drummond. F. E. Cumming, Fred Cyr, Philipsburg. Nate Donithan, Philipsburg; John C. Dooly, Drummond. Omer Edgar, Hall. Milton Frogge, Philipsburg; B. H. Firestone, Drummond. C. E. Goldberg, Hall. Clarence Hamm, Bonita; Wm. C. Hull, Milo Hoyt, John Hickey, John Huddleston, Kenneth Hannah, Maynard Hunt, Philipsburg; R. T. Hall, Drummond. Henry Kolbeck, Hall. Emil Long, Hall. V. B. Morse, Hall; Joe P. Miller, James W. Malone, Drummond. Patrick McGarvey, Philipsburg; Thos. McCarthy, Hall. H. A. Nicolaysen, Philipsburg. Robt. Owsley, John Olson, Philipsburg. Harry Parfitt, Philipsburg. Andy Ryan, Garnet. J. W. Stephens, Drummond; F. J. Spon, Philipsburg; J. I. Smith, Maxville. Oscar Williamson, Henry S. Wyman, Philipsburg. Tuesday, Dec. 2. Anton Christensen vs. Chicago, Milwaukee and St. Paul Railway Co. Order setting case for trial on Dec. 5th vacated in accordance with stipulation of parties. The State of Montana vs. Harry Holland. Demurrer to complaint sustained and complaint dismissed. Order setting case for trial Dec. 4, vacated. The State of Montana vs. Maurice Thompson. Trial of case continued to Dec. 3 at 9:30 a.m. John A. Featherman et al. vs. D. W. Hennessy et al. Motion of Sam Gunnell to retax costs of water commissioner O. W. McGowan, overruled. Vancouver National Bank vs. D. T. Bowen, dismissed as settled on application of counsel for plaintiff. D. C. Lingenfelter vs. Mary E. Lalor et al., dismissed without prejudice on agreement of counsel; order setting case for trial Dec. 4th vacated. J. S. Huffman vs. Mike Mungas and Geo. Mungas, dismissed as settled. Deer Lodge Lumber Co. vs. Joseph Mitten et ux. Default of defendants entered on application of plaintiff, for failure to answer within time allowed by Court on overruling demurrer to complaint. State of Montana vs. Philipsburg State Bank. Receiver granted leave to pay preferred claims of the National Surety Co. and the Royal Indemnity Co., totalling $4,875.54, the amount on deposit by the State Treasurer at the time bank closed, and for which the companies were surety. Order was entered fixing terms of court for 1925; first term to begin first Tuesday in March; second, first Tuesday in June; third, first Tuesday in September; fourth, first Tuesday in December. The State of Montana vs. Charles Lewis. Defendant was tried before a jury on a charge of unlawfully possessing intoxicating liquor. Found not guilty. The jury was composed of E. R. Burt, Wm. C. Hull, B. H. Firestone, John Huddleston, Henry Kolbeck, Eli Barney, Pat McGarvey, F. E. Cumming, Clarence Hamm, D. T. Bowen, Emil Long and Walter H. Brooks. In the matter of the organization of the Trout Creek Basin Irrigation District: The testimony of State Engineer Benj. Buck in support of the organization of the district was introduced and then on agreement of counsel for the petitioners and contestants, Louis Miller and Margaret Miller, the hearing was continued to Friday, Dec. 5, at 1:30 p.m. Wednesday, Dec. 3. The State of Montana vs. Maurice Thompson. Defendant was tried before a jury on a charge of removing mortgaged property from the county without the consent of mortgagee, Drummond State Bank. Defendant was found guilty and his punishment fixed at 50 days in jail and a fine of $70. Judgment is to be pronounced tomorrow. State of Montana vs. John Ryan. Trial of the defendant on a charge of unlawfully possessing and selling intoxicating liquor was begun before a jury and completed Dec. 4, defendant being found not guilty. The jury: E. Long, D. T. Bowen, E. R. Burt, R. Owsley, F. J. Spon, H. Kolbeck, W. C. Hull, J. I. Smith, W. D. Barrieth, W. H. Brooks, B. H. Firestone and F. E. Cumming. A poll of the jury showed eight to four for the verdict, those not voting being Burt, Spon, Hull and Firestone. Thursday, Dec. 4. The State of Montana vs. Henry Philbrick. The defendant was tried before a jury on a charge of unlaw-

4. August 14, 1925 The Philipsburg Mail Philipsburg, MT
Article from The Philipsburg Mail, August 14, 1925

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Disposition Made of District Court Cases On Thursday of last week, Judgeo Geo. B. Winston made disposition as follows in the matters of the district court: In the matter of the Estate of Charles E. McJilton, deceased, letters of administration were issued to Alice McJilton. In the action entitled Henry A. Kroger Treasurer of Granite County vs. J. E. Meyers, V. B. Morse, Gust Johnson, William Lyon and H. T. Cumming, the separate demurrers of all the defendants excepting J. E. Meyers were submitted to the court and taken under advisement. The defendants were granted five days in which to file and serve proof in support of special and general demurrers and the plaintiff was granted five days from date of service to reply thereto. In the case of Katy Davis vs. J. E. Manley et al., the defendant's demurrer to the plaintiff's complaint was overruled and the defendant was granted 30 days in which to answer. In the matter of Cyrus J. Morgan vs. A. S. Huffman, judgment was signed and ordered entered in favor of the defendant. State of Montana vs. Drummond State Bank. Receiver's petitions No. 1, 2, 3, 4, 5, 6, and 7 were submitted to the court. Orders were made and signed granting the first six petitions and petition No. 7 was taken under advisement. The decree of settlement of final account of Amanda Hardtla, administratrix for the Estate of Frank B. Johnson, deceased, was signed this day. In the matter of the Estate of Louis Bolich, deceased, a petition for order of sale of personal property of said estate was submitted and an order signed setting hearing on application for the first day of Sept The following cases have been set for trial on Tuesday and Wednesday, September 1st and 2nd: David Dahlberg ve. Mary B. Goldberg. Set for trial Sept. 1st at 1:30 o'clock. The Continental Casualty Company a corporation, vs. George Metcalf, E. E. Springer, C. A. Pike, S. M. C. Hughes, John Rodda and A. L. Powers. Set for trial September 2nd at 1:30 o'clock. A, S. Huffman, Elizabeth Huffman, Dora V. Huffman, Florence E. Huffman, and Elizabeth A. Huffman as guardian of Elza Huffman, doing business under the name of Huffman Grocery vs. J. J. Kneale and H. A. Featherman as receiver of the Philipsburg State Bank. Set for trial September 1st at 1:30 o'clock. John W. Duffy and E. A. Hannah vs. Malon L. Hastings et al. Set for trial September 2nd at 9:30 A. M. First National Bank of Missoula a corporation vs. John L. Hagg. Set for trial Sept. 1st at 9:30 o'clock.

5. October 23, 1925 The Philipsburg Mail Philipsburg, MT
Article from The Philipsburg Mail, October 23, 1925

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STATEMENT OF PROGRESS IN LIQUIDATING BANK ASSETS Philipsburg, Montana, October 22, 1925. To the Depositors, Stockholders and all persons interested in the liquidation of the Philipsburg State Bank: take great pleasure in submitting the following statement of progress made since my appointment as receiver. The bank closed January 18, 1924 and I assumed charge of the affairs on March 10 1924. At the date of suspension, the bank had collateral pledged to secure borrowed money and special deposits in the sum of $62,000.00 Money borrowed on re discounts and bills bayable 36,690.00 City of Philipsburg Special Deposit 2,000.00 State of Montana and Interest 4,900.00 Postal Savings Postmaster Special Deposit 2,100.00 Unpaid Drafts and Cashier's Checks 3,400.00 All of the pledged collateral has been redeemed and all of the above loans and special deposits have been paid in full. I have collected from interest, premiums and rents the sum of $11,208.00 from which is paid the entire expenses of the bank since the date of suspension, which includes the salary of the receiver and attorney rents, light, phone, stationery, etc., a sum of $8,715.00 which leaves a net earning of $2,493.00. In connection with this is the item of accrued interest now due and most of which will be collected, the sum of $2,000.00. The amount allowed as attorney fees in foreclosures and Judgments will be added to the earnings of the bank. At present this amount exceeds the salary paid the attorney. The advances made are very light only those made to protect the assets of the bank, such as first mortgages and taxes. I have paid two dividends of 10 per cent each and this is your notice to call and get your check dividend No. 3 of 10 percent. Compare this statement with the result of the closed bank East or the one West, or ny of them that closed at or near date this bank suspended, and last but not least, there are other dividends to come. Very truly yours H. A. FEATHERMAN, Receiver.

6. September 10, 1926 The Philipsburg Mail Philipsburg, MT
Article from The Philipsburg Mail, September 10, 1926

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Brief Session of District Court Held Last Tuesday Judge George B. Winston held a brief session of district court Tuesday but attended to a number of cases. Adetailed account of the matters is as follows. In the matter of the estate of Peter S. Mussigbrod, deceased the hearing on the petition for an order directing executors to convey certain real property to petitioners and the hearing on the objections thereto were this day continued to Tuesday the 7th day of December, 1926, at 9:30 a. m. In the matter of the estate of Edward Challander, deceased, Hearing was this day had upon the petition for the determination and adjudiciation of heirship in the above entitled matter. Documentary evidence in support of said petition was offered, produced and the matter submitted to the Court for consideration and decision. In the matter of the estate of Enos Lish, deceased, a hearing was this day had upon an order to show cause why sale of real estate should not be made. Documentary evidence in support of the petition for an order of sale of real estate was offered and produced and presented to the Court and the matter submitted to the Court and the Court having duly considered the same, ordered that said petition be granted and an order of sale of real estate was signed and ordered filed in said matter. In the two actions entitled G. C. Dalberg VS. Chris Lannen, the demurrer to plaintiff's amended complaint and the demurrer to plaintiff's complaint were thi S day by the Court overruled and defendant granted up to and including the 1st day of October. 1926, in which to In the action entitled Henry A. Kroger, treasurer of Granite County vs. William Lyon, et al, defendant's demurrer to plaintiff's complaint was by the Court overruled and defendants granted up to and including the 1st *day of October, 1926, in which to answer. In the actions entitled Julia S. Morse, vs. Sam B. Clark, et al, and Frank M. Morse vs. Sam B. Clark et al, an order was made overruling the motions to strike of the plaintiff's and the defendant, V. B. Morse. tiffs' and the defendant, V. B. Morse, were granted 10 days in which to further plead. The bonds of the County Commissioners were this day inspected by the Court and by the Court found to be sufficient. Reports of the month of August of persons heretofore granted an allowance under the mother's Pension act of the State of Montana, were this day examined by the Court and by the Court approved. In the matters of the State of Montana vs. the Philipsburg State Bank and the State of Montana VS. the Drummond State Bank, several receiver's petitions were presented to the Court and orders authorizing the granting of said petitions were signed and ordered filed. In the matter of the estate of Ellen Thomas, deceased, an order fixing Tuesday. the 21st day of September, 1926 as the time for hearing the final account of the executors of the last will and testament of said hearing the petitions for distribution and the determination and adjudiciation of inheritance tax.

7. April 15, 1927 The Philipsburg Mail Philipsburg, MT
Article from The Philipsburg Mail, April 15, 1927

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NOTICE OF SHERIFF'S SALE ON FORECLOSURE OF MOTGAGE In the District Court of the Third Judicial District of the State Montana, in and for the County of Granite. John W. Duffy and A Hannah, Plaintiffs. Malon L Hastings and Myrtle L Hastings, his wife, W Hover and Lucille Hover, his wife, Beverly Hill Stock Farm a corporation, Philipsburg State Bank, corporation, and H A as Receiver of the State Bank a corporation, Defendants. Under and by virtue of a Decree of Foreclos duly, given, made and entered in the District Court of the Third Judicial District of the State of Montana, in and for County on the 29th, day October, in the year 1925, in the above entitled action, wherein John W Duffy and E Hannah the above named plaintiffs, obtaine judgment and Decree against Malon L Hastings Myrtle L Hastings, W Hoover and Lucille Hover his wife, the Philipsburg State Bank, a corporation and which and decree has been duly recorded in the Records of said am court, commanded to sell all that certain lot, piece and parcel of land situated in the County of Granite and State of Montana and bounded and described as follows, All of Section Eleven (11) except Northern Pacific Railway Company, right of-way and Southeast Quarter Section Ten (10), both in Township Sev en (7), North of Range Fourteen (14) West, M M, with all ditch and water rights used or appertaining thereto. Together with all improvements thereon or And appertaining. is hereby given that on the 25th day'of April 1927, at ten o'clock A M of that day in front of the Court House in the City of Philipsburg in Granite County, State of Montana in obedi ence to said Decree of Forectos sell described property or so much thereof as may be necessary to satisfy plaintiffs with interest thereon and costs to the highest and best bidder for cash, lawful money of the United States Dated March 28, 1927. SAM CLARK Sheriff of Granite County, State of By Metcalf, Undersheriff First Pub April 1st 1927 14-17

8. March 18, 1932 The Philipsburg Mail Philipsburg, MT

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SHERIFF'S SALE The Federal Land Bank of Spokane, a corporation, plaintiff. Emily Weaver George Maurice Weaver and Rose Weaver, husband and wife Philipsburg State Bank, corporation as Receiver of the Philipsburg State Bank, corporation The Mountain States Telephone & Telegraph Company corporation James H Weaver, Dorothy Weaver Charles G. Wea ver, single man Harry Weaver Florice Weaver George Maurice Weaand Walter Kroger, as Executors the Last Will and Testament of George Weaver, deceased and New Chicago National Farm Loan Association, corporation, To be sold at Sheriff's Sale on Saturday the 9th day of April A. D. 1932, at the hour of o'clock P. at the front door of the Granite County Court House the city of Philipsburg. Granite County, Montana, all those certain lots, pieces and parcels of land and premises situated in the County of Granite, State of Montana, described as follows, to-wit The North Half of the Southeast Quarter, the South Half of the Southwest Quarter of Section Seventeen, the Northwest and the South Half of Section Eighteen, the East Half of Section Nineteen, the Northwest Quarter of Section Twenty, all in Township Eleven North of Range Fourteen, est of the Montana Principal Meridian containing 1120 ac res Granite County, subject to Railroad rights of way and county roads now constructed over and across said lands. Together with all and singular the tenements, hereditaments appurtenances thereunto belonging, and the reversions, remainder rents, sues and profits thereof, also any and all water rights, water ditches and water easements thereunto belonging or in anywise appertaining, which are now, or hereafter may be used on said they may be with all shares of stock or shares of water in any ditch or irrigation company which in any manner entitle said mortgagors to water for or domestic purpursoses an said premises. Dated at Philipsburg, Granite County Montana, this the 15th day of March A, D. 1932. ANGUS McDONALD Sheriff of County, Montana Philipsburg, Montana, J. 12-15 Attorney for Plaintiff