Ringling State Bank (Ringling, MT)

Episode Information

Episode UID
93033171478
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
9303317 routing
Routing Number
93-0331
Start Date
February 1, 1923*
Location
Ringling, Montana (46.272, -110.807)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
528805839049ce3b

Response Measures

None

Description

Articles state the bank suspended in Feb 1923 and later remained in receivership with assets sold in 1924; cause not explicitly detailed.

Events (4)

1. February 1, 1923* Receivership
Newspaper Excerpt
Judge W. L. Ford has signed an order permitting the receiver of the Ringling State bank, George Fowlie, to dispose of its assets. The Commercial bank of Ringling filed ... to buy the assets of the defunct bank for the sum of $36,605.18, which bid was approved by the court and an order authorizing the sale was signed. (Article date: 1924-04-21.)
Source
newspapers
2. February 1, 1923* Suspension
Cause
Local Banks
Cause Details
Suspension occurred in same week as the State Bank of Martinsdale closed and was closely associated with it; closures among local banks in the region.
Newspaper Excerpt
the Ringling State Bank suspended, according to the Ringling Independent.
Source
newspapers
3. March 1, 1923* Other
Newspaper Excerpt
The Ringling State Bank is also arranging to reopen, the depositors taking time certificates of from one to three years to assist in the reopening process.
Source
newspapers
4. July 21, 1927 Other
Newspaper Excerpt
Judge Ford has signed the application discharge of the the Ringling State Bank. All have been paid in full, and positors other obligations pending the the bank suspended have beer discharged.
Source
newspapers

Newspaper Articles (5)

Article from The Clyde Park Herald, February 16, 1923

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Article Text

At the meeting of the State County Commissioners Association in Helena the work of the extension agent occupied most of the attention. Commissioners from some of the timber and mining counties were interested in the extension work although these agents were not so necessary in their counties, it was reported. From the farming counties, however, there was a great majority of favor for extension work. D. N. Miles of Livingston, president. The action of the Montana county commissioners follows similar action in other states. In Oregon one county has made its extension work "permanent". The importance of the extension work nationally is shown in the report of Secretary Wallace where he says agricultural agents are employed in 2,100 counties, home demonstration agents in 800 counties and club agents in 200 counties. These agents come in contact with 2,500,000 farm homes annually. The Farm Bureaus And Experiment Stations "The Farm Bureau in its work has dealt with all the factors influencing farm life, including production, economics, education and social life," said Dean E. C. Johnson of the State College of Washington to a Farm Bureau gathering at the Walla Walla Chamber of Commerce recently. "It has stressed the first three, and especially the economic side. The agricultural experiment stations of necessity have first of all stressed production, because without it there can be no permanent progress. Production is basic and will remain so always. "The experiment stations have, however, done much work also in development of marketing and organization." No Royal Road To Dry Land Wealth Dry land farming in the famous "triangle" of north central Montana can be made a success with the right kind of farmers doing their farming in the right way, says M. L. Wilson of the State College Extension Service. Mr. Wilson has just finished a survey of typical dry farming areas of this section, getting records from farmers who have been "successful" enough to permit them to show a labor income in spite of recent years of drouth. A summary of Mr. Wilson's findings was made before the Rotary Club of Great Falls and again before the State College advisory council at Bozeman. Some of his points, summarized, are as follows. Enough diversification must be practiced to assure the family a living each year independent of the main grain crop. Flood water irrigation should be utilized to its fullest extent, and most of the farms in this section have flood water possibilities. The crop land will probably be one-third fallow, one-third crop on fallow and the other one-third crop on unfallowed land. Fallow provides a more uniform yield each year, while the crop on unfallowed grounds allows building up of surplus profits in the good years, at small expense. Where cheap pasture land is available the tendency will be toward greater amount of livestock in the diversification. The farm garden is perhaps the most important point in the diversification base on which all farming practice must be constructed. All farming in this section must be built around control of the Russian thistle. It is improbable that the section will experience soon again a succession of years of drouth such as have marked the past five years. Speculative farming cannot succeed; the farmer must build with an idea towards a permanent home. Greatest economy in man labor must be practiced. The use of eight, ten, or twelve-horse teams will grow in favor. Soil blowing will become an increasingly difficult problem. Fallowing without plowing may be practiced more each year. The double rod weeder and duck foot type of cultivator are the best types for control of Russian thistle in fallowing. Sudden or easy wealth in this section should not be expected. It is a section for thrifty, careful farmers who will farm intelligently and who will farm with the idea of home building for permanency. The State Bank of Martinsdale closed its doors Saturday, February 3, in the same week that the Ringling State Bank suspended, according to the Ringling Independent. It is stated that the closing of the Martinsdale bank was expected after the closing of the Ringling State Bank, owing to the close association of the two.


Article from Winnett Times, March 16, 1923

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Article Text

Schwartz Well To Drill Deeper A deal is now being closed whereby the Schwartz well in the SEΒΌ NWΒΌ of section 22-15-25, on the McDonald creek structure is to be completed to the Madison lime. This well was drilled to the Ellis sand a few weeks ago without finding production and was temporarily shut down. The depth to the bottom of the Ellis in the location is 1720 feet. The Ellis sand was found to be perfectly dry, according to the official log of the well. The Kootenai sands yielded heavy flows of water, but the Ellis being perfectly dry, leads to the belief that the lower sands will be found free from water and will likely produce oil. It is estimated that an added depth of 500 feet will explore all the quadrant sands. The water will be shut off with 8-inch casing, leaving a hole of ample size to reach the Madison lime. The well thus far has been drilled by the Schwartz exploration company, composed of practically all Lewistown men. It is to be completed by eastern capital on an acreage basis, it is understood. Wm. Thomas who has had charge of the drilling will also be in charge under the new arrangement. The equipment is of the standard variety and it will require only a day or two before actual drilling can be resumed. John O'Neil, who is associated with his brother, Tip, in the oil business, arrived in the city Monday to look after the O'Neil interests in Cat Creek. BANK CONDITIONS IMPROVING. J. R. Slayton, recent state senator from Musselshell county and one of the first county commissioners of Fergus county, was in Winnett the fore part of the week enroute to Lewistown. Mr. Slayton is one of the heaviest stockholders in the Citizens State Bank at Roundup which closed its doors about a month ago due to a run on its deposits caused by false reports that was circulated against the bank. Mr. Slayton announced that the Citizens State Bank will reopen May 15th with increased capital the directors and stockholders taking any loss that occurred due to the run. The bank will be reopened as a bigger and stronger institution and with no loss registered against its depositors. The Ringling State Bank is also arranging to reopen, the depositors taking time certificates of from one to three years to assist in the reopening process. Several of the other closed banks in the state are also planning on reopening this summer, the stockholders taking any loss that was caused by the suspension of business and doing so with the feeling that Montana is coming back and that in the course of time they will be able to make up their losses and a neat profit besides.


Article from The Billings Gazette, April 22, 1924

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Article Text

Court Makes Order Sell Ringling Bank Ringling, April 21. β€” (Special) β€” Judge W. L. Ford has signed an order permitting the receiver of the Ringling State bank, George Fowlie, to dispose of its assets. The Commercial bank of Ringling filed with the court a written bid offering to buy the assets of the defunct bank for the sum of $36,605.18, which bid was approved by the court and an order authorizing the sale was signed. This sale practically disposes of the affairs of the Ringling State bank, although the receiver will not be discharged at the present time, the court deeming it inadvisable to do so in less than a year's time.


Article from The Times Clarion, July 21, 1927

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Article Text

RINGLING STATE BANK PAYS ALL Judge Ford has signed the application discharge of the the Ringling State Bank. All have been paid in full, and positors other obligations pending the the bank suspended have beer discharged. This includes payment bonds removed from bank, and debt of more the War Finance Corporation. Everything has been fully paid except part the county deposit at the time old bank closed its doors. This obligation has been assumed the Commercial Bank and will discharged by them. The bank has been in the hands George Fowlie, since 1923. now sound and condition, and the confidence support of the community. Perhaps no bank the state more deplorable shape than Ring ling bank at time of its failure, and region harder hit by the business depression following 1921 than that section of the country.


Article from The Meagher County News, July 22, 1927

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Article Text

RINGLING PAGE RINGLING STATE BANK SOUND FINANCIALLY Judge Ford has signed the application for discharge of the receivership of the Ringling State Bank. All depositors have been paid in full. and all other obligations pending at the time the bank suspended have been discharged. This includes a payment for government bonds removed from the bank, and a debt of more than $10,000 owing to the War Finance Corporation. Everything has been fully paid except a part of the county money on deposit at the time the old bank closed its doors. This obligation has been assumed by the Commercial Bank and will be discharged by them. The bank has been in the hands of George Fowlie, receiver, since 1923. It is now in a sound and prosperous condition, and commands the confidence and support of the community. Perhaps no bank in the state was in more deplorable shape than the Ringling bank at the time of its failure, and no region harder hit by the business depression following 1921 than that section of the country. Arch Middleton made a business trip to Bozeman Wednesday. Herman Harder spent a few days in Livingston this week. He returned Thursday, accompanied by Chas. H. Brumfield. Wm. Rae of Billings was a business visitor here Wednesday and Thursday. Mr. and Mrs. Elliott Lindsey arrived Friday morning from Frisno, California to spend few days at the G N. Higgins ranch. Mrs. Geo Heath made a business trip to Livingston Thursday, returning Saturday. The Ladies Aid met at Sixteen Thursday, at the home of Mrs. T. P. Kerr. Those attending from RingMontana ling were Madames J. B. Seeley, Henry Foster, A. J. Vinton, Chas, T. Plumb, W. P. Shuyler and Mrs. J. P. Harden. Mrs. Mary Lucas and daughter, Marie, motored out from White Sulphur Springs Thursday Lowell Robertson and Horace Redmond motored to Helena Thursday, returning Friday. Loyd Foster went out to the A. J. Vinton ranch Thursday to spend the week-end with Fern. Mrs. J. H. Meusey and sons, Cyrel and Wayne, motored to Bozeman Thursday and spent the day. Mr. and Tusco Heath were passengers to Three Forks Frdiay morning to take their small son, George, who underwent an operation for appendcitis. He is improving rapidly and will be home again next week. Mrs. S. C. Romine left Friday morning for Bozeman to spend a few days. Mr. and Mrs. J. H. Meusey and family and Mr. and Mrs. Frank Morgan and family motored to White Sulphur Springs Saturday to attend the circus. Horace Redmond and Lloyd Robertson attended the circus at White Sulphur Springs Saturday and the dance at Moss Agate. Among the people motoring to Livingston Sunday to attend the funeral of Ervin Triplett were, Horace Redmond, Nich Lihes, Enoch Brekke, Oscar Belgum, S. H. Goodwin, Walter Gundecker, Lowell Rob ertson, the Misses Volga and Gladys Arthun, Mary Lyndes, and Mr. and Mrs. R. L. Copp. Mrs. Geo. Heath left Monday for Bozeman, Mont., to spend a few days. Mr and Mrs. M. F. Taylor and family motored to White Sulphur Springs Monday. Mrs. Thomas McCurry, Jr., accompanied by the Misses Mabel Gundecker, Mary Lyndes and Katherine McCurry motored to White Sulphur Springs Monday and were guests of Miss Bessie Shearer. The Ladies Aid will meet at the home of Mrs. Alva J. Vinton Thursday, July 28th. Shearing was completed this week at Smith Bros. Sixteen Mile Creak. Mrs. Ed. McReynolds and daughter, Grayce, accompanied by Mrs. France of White Sulphur Springs spent a few hours here Monday Mrs. John Donovan and sister, Mrs L. W. Brewer and children, motored 'to the Springs Saturday. Rev. Miss Rhoda Jane Dickenson of Roundup, Mont., will hold a Communion Service at the Congregational church Sunday evening at eight o'clock. The rite of baptism will also be administered, Mr. and Mrs. Jno. Rees, Jr., and family motored up from Billings Sunday. They brought John's mother home, who has been visiting there since the fourth. Miss Rhoda Jane Dickenson of Roundup was a dinner guest of Mr. and Mrs J. P. Harden Sunday Mr. and Mrs. W. P. Frantz and Mrs. Ross Higgins motored to Bozeman Monday to take Mr. and Mrs. Elliott Lindsay. who have been visiting Mr. and Mrs. G. N. Higgins. Lowell Robertson and Enoch Brekke left Monday morning for a short trip through the Yellowstone Park. Miss Rhoda Jane Dickenson of Roundup was a dinner guest of Mr. and Mrs. Chas. Plumb Monday.