West Side State Bank (Great Falls, MT)

Episode Information

Episode UID
93046771488
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
9304677 routing
Routing Number
93-0467
Start Date
December 21, 1923
Location
Great Falls, Montana (47.500, -111.301)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a3c58647858eb432

Response Measures

None

Description

The bank suspended in Dec 1923 and was placed in receivership; it did not reopen as an operating bank.

Events (5)
1. December 21, 1923 Suspension
Cause
Government Action
Cause Details
Directors ordered bank not to open and the state bank examiner took charge, prompting suspension.
Newspaper Excerpt
The West Side State bank of Great Falls ... today failed to open its doors on an order of the directors and the state bank examiner took charge.
Source
newspapers
2. June 28, 1924 Receivership
Newspaper Excerpt
On December 21, 1923, the institution suspended operations and Mr Doyle was appointed receiver on June 28, 1924.
Source
newspapers
3. July 3, 1924 Other
Newspaper Excerpt
Receiver H. M. Emerson ... applied to the District Court for permission to pay a 35 per cent dividend to depositors, and checks for the various amounts will be issued July 3rd.
Source
newspapers
4. May 25, 1927 Other
Newspaper Excerpt
Remaining assets of the West Side State bank ... were sold in bulk Wednesday afternoon to Herman Ofstedahl for $2,400 by Doyle, receiver the bank.
Source
newspapers
5. July 15, 1927 Other
Newspaper Excerpt
Doyle is discharged from receivership of West Side bank ... receivership terminated soon as possible after distribution of the dividend.
Source
newspapers

Newspaper Articles (11)
1. December 21, 1923 The Producers News Plentywood, MT
Article from The Producers News, December 21, 1923

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Article Text

BEST PEOPLE FOR 25 YEARS R. B. Noble has lived for 30 years in Great Falls, is head of the Noble Mercantile company, the largest retail grocery house of Great Falls, owns many ranches and much city property, was chairman of the Great Falls school board, former alderman, president of the West Side bank and prominent in civic life of the city for a quarter of a century. Peters is a man 36 years of age and has a wife and three children, while Noble is 58 and has a wife and nine children living. Stay on execution of sentence was given until Saturday when motion for new trial will be heard and decided. Thus the spell of the formerly charmed life of bankers seems to be broken. GETS CHILDREN'S PENNIES This bank just before it closed its doors, carried on a Thrift campaign among the school children of Great Falls, whereby it got possession of hundreds of dollars in pennies and dimes from the kids. aluminum coffee percolator. Marion Foley was neither absent or tardy the whole term. BLAIN DEAN UNDERGOES EYE OPERATION Blain Dean was operated upon Thursday afternoon by Dr. Storkan at the Memorial hospital. PROMOTE BIG MATCH EVENTS ARE FAST COMING TO SHOW DOWN WHEN PUBLIC WILL HAVE OPPORTUNITY TO SEE MOE AND HOUSE IN TITANIC STRUGGLE TO SETTLE SUPREMACY ON PADDED MAT. At the regular meeting of the local Post of the American Legion it was decided to promote a wrestling match between Moe and House if arrangements could be made between these two well known artists of the padded mat. The public has been clamoring for these two men to meet and each week the public demand grows stronger that Moe and House meet on the mat and settle their difficulties so that the world may know who is the best man. There is no doubt but this will be the star attraction of the winter in the line of sports and it is to be hoped that the Legion boys will be able to get these two high class men together. The result will be watched with interest.

2. December 27, 1923 The Chester Reporter Chester, MT
Article from The Chester Reporter, December 27, 1923

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Article Text

WEST SIDE STATE BANK OF GREAT FALLS CLOSES (By The Associated Press) Great Falls, Dec. 21.—The West Side State bank of Great Falls, the institution of which R. B. Noble was president and organizer, today failed to open its doors on an order of the directors and the state bank examiner took charge. The bank was organized in 1918 with a capital stock of $25,000 to which has been added $1,000 surplus and had $85,000 deposits with about the same amount of loans. No paper was out, and the stockholders' liability is about $25,000. Noble was sentenced to two and a half years in Leavenworth on a charge of making false entries in the closed Commercial National bank of which he had been manager and vice president.

3. June 25, 1924 The Cody Enterprise Cody, WY
Article from The Cody Enterprise, June 25, 1924

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Article Text

Montana Bank To Pay About Third Great Falls, Mont.-Receiver H. M. Emerson, of the West Side State Bank of Great Falls, last Wednesday applied to the District Court for permission to pay a 35 per cent divident to depositors, and checks for the various amounts will be issued July 3rd. The bank closed December 20th, 1923, the claims against the bank being something over $70,000.

4. July 29, 1924 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, July 29, 1924

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Article Text

Probe Fire Menace J. E. Mitchell and other residents of Fifth avenue south petitioned the council for the removal of an unoccupied frame building at 1109-11 Fifth avenue south. The house is termed a menace to the community and a fire hazard which operates to increase insurance rates. The fire chief and the fire committee were ordered to investigate. S. D. Largent was given permission to reshingle two frame buildings at 608 and 610 Third avenue south after a letter had been read stating that the owner was not aware that the houses were in the special fire zone, thus requiring a permit from the city council. Receipts from the water department for the month of June were listed at $12,743.60 in a report from John J. Holmes, registrar of the water department. During the same time the expenditures were $7,317.47. A resolution from the committee on public improvement recommended the creation of a sprinkling district on Second avenue north between Twenty-sixth and Thirty-sixth streets and the council adopted it on first reading. An ordinance establishing a sprinkling district to include the following streets was adopted on final reading: First avenue southwest from Railroad avenue to Ninth street; Sixth avenue north from Twentieth to Twenty-third streets and Twentieth street from Fourth to Sixth avenues. The bid of the West Side State bank receiver for a vault door and safe for the city treasurer's office was adopted by the council. The price to be paid is $575 when the safe and door is delivered to the treasurer's office.

5. July 29, 1924 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, July 29, 1924

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Article Text

Paving Cleared Streets Mayor H. B. Mitchell called attention to the fact that paving operations had made a rigorous enforcement of the law and Alderman B. Joyce then moved that the police department give a week's notice before making any arrests. Aldermen A. Haugse and Harvey Read asked to be shown how it is possible for the city council to order a stay in the enforcement of any city ordinance, but the other councilmen answered by passing the resolution. Specifications for a motor driven, combination chemical pumping engine and hose cart for the fire department were read and a resolution was adopted directing the city clerk to advertise for bids. Chief A. J. Trodick estimates that it will cost $11,000. The engine must be capable of developing 100 horse power north between Twenty-sixth and Thirty-sixth streets and the council adopted it on first reading. An ordinance establishing a sprinkling district to include the following streets was adopted on final reading: First avenue southwest from Railroad avenue to Ninth street; Sixth avenue north from Twentieth to Twenty-third streets and Twentieth street from Fourth to Sixth avenues. The bid of the West Side State bank receiver for a vault door and safe for the city treasurer's office was adopted by the council. The price to be paid is $575 when the safe and door is delivered to the treasurer's office. George Knutson, a member of the police force and a republican candidate for sheriff was granted a 30-day leave of absence effective August 1.

6. January 6, 1925 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, January 6, 1925

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Article Text

STOCKETT STATE BANK PAYS DIVIDEND TODAY Initial Distribution of 10 Per Cent, Totaling $15,000 Authorized by Court; Will Deliver Checks at Sand Coulee Distribution of a 10 per cent dividend to the depositors of the State Bank at Stockett will be begun today following submission Monday of a petition in district court for authority to take that action, it was announced by Receiver Herman Lescher. The dividend will total approximately $15,000 and will be the first the bank has paid since it was closed in March, 1922. Payment of the dividend is made possible through collections received during the season just closed, Receiver Lescher stated. The dividend checks will be delivered at the Miners State Bank of Sand Coulee, of which Mr. Lescher also is receiver. Mr. Lescher is the third bank receiver in Cascade county to announce a dividend within the last two weeks and it is reliably reported that another closed concern is making ready to petition the court for permission to issue a payment on deposits. The American Bank & Trust company of Great Falls shortly before Christmas distributed $123,000 to depositors in the second 10 per cent dividend paid by Receiver A. W. Springhorn and Receiver C. W. Blomquist of the State bank of Belt last week paid a 10 per cent dividend totaling $12,000, to depositors of that concern. Men in close touch with the west side state bank of Great Falls said Monday that Receiver S. J. Doyle expects to pay a dividend of between 20 and 25 per cent within the present month. This would mean a distribution of approximately $14,000 and make a total of $164,000 in dividends paid by the four banks this fall. The West Side bank paid a dividend of 35 per cent early last summer. The bank closed with deposits of approximately $80,000 but a portion of this was county deposits and protected by bonds. Depositors claims aggregate about $67,000. Dividends were paid earlier in the year by the Commercial National bank of Great Falls and the Miners State bank of Sand Coulee, their distributions added to those made by the other banks this fall representing a total of considerably more than $300,000, returned to depositors in the last year.

7. August 14, 1926 The Great Falls Leader Great Falls, MT
Article from The Great Falls Leader, August 14, 1926

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STOCKHOLDERS OF WEST SIDE BANK DEFAULT Default Judgments Against W. W. Moses and L. H. Hamilton Granted by Judge H. H. Ewing to S. J. Doyle. Receiver S. Doyle as receiver of the West Side State bank of Great Falls was yesterday granted default judgments against W Moses and L. H. Hamilton for $605 65 and $1,205 65, respectively, In district court by Judge H. H. Ewing The enforcement of phyment of stockholders' statutory liability was the object of the The bank Receiver Doyle stated In the action. is "hopelessly insolvent. and in order to pay its debts and liabilities it was necessary to collect the full amount for which the stockholders were liable Such collection was authorized by the court on April 23. 1924. when an order was Issued requiring the payments to be made on or before May 1926. The other stockholders who are residents in the United States paid the full amount of their liability.

8. August 14, 1926 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, August 14, 1926

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Article Text

ENTER DEFAULT JUDGMENTS TO BANK RECEIVER Two Stockholders in West Side Institution Have Not Paid Liability Default judgments' for $605.65 and against W. W Moses and L. H. Hamilton, respectively, were Friday granted S. Doyle. as receiver of the West Side State bank of Great Falls, by District Judge H. H. Ewing. The action was instituted to enforce payment of stockholders' statutory liability. The bank, according to the complaint. was capitalized at $25,000. divided into 250 shares of $100 par value each, On December 21. 1923, the institution suspended operations and Mr Doyle was appointed receiver on June 28. 1924. Needs Full Liability In the action, the receiver stated that the bank is "in hopelessly insolvent condition." and that in order to pay its debts and liabilities it was necessary to collect the full amount of stockholders' liability. Such action was authorized by the court on April 23. 1924. which issued an order requiring the payments to be made ratably on or May 1926. G. P. Andrews, Newman. James Byre. Jone Boehme F. G. Givens, W. H. George. L. H. Diehl. Margaret B. Johnson Lucy A. Major. Robert Rundle Minnie Schubert. Mary E. Stone. W Sherwood, Lorene Burks and D. K. Schrader. all stockholders. it was stated. remitted the full amount of their liability. Two Have Not Paid Moses. however. was alleged to have failed and refused to pay $500 asand similar charge was made against Hamilton, who was liable for $1,000. The two defendants are the only persons against whom action can be taken as Berry McDonald Edna O'Brien. the Ottawa Banking & Trust company as trustee for Katherine Lou Rhoades and Horace Rhoades. other stockholders. are residents of Canada and cannot be sued.

9. May 26, 1927 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, May 26, 1927

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BANK'S ASSETS SELL FOR $2,400 ON WEST SIDE Herman Ofstedahl Buys Remaining Property Subject to Court Order Remaining assets of the West Side State bank of Great Falls, which have an approximate face value of $35,000, were sold in bulk Wednesday afternoon to Herman Ofstedahl for $2,400 by Doyle, receiver the bank. The sale subject to confirmation by the district court. Sale of the assets of the insolvent bank attracted but little and the bidding quiet. held at the bank building at 501 First avenue and assets were offered for sale by individual items shortly after The only asset to bring fair price the south 40 feet the east half of lot block 594. Great Falls, which sold to D. Stevenson for $920. Lot 6. bleck 13. west Great Falls, was tentatively sold to H. Usher. The total of individual sales reached $2, 104. The property was then sold in bulk and bidding keen short between Mr. Ofstedahl. D. Crich ton. H. Corcoran, Frank Wallace and E. Murphy. The sale price was increased to by Mr. Ofstedabl and the property tentatively sold to him. Included among the assets sold were unsecured bills receivable of $23,463. secured bills receivable of $9.notes in judgment $1,354. real estate and the banking house furniture and fixtures. The West Side bank suspended 1923, and has since that time paid three dividends totalling 65 per cent. Total liabilities of the institution were $69,000. Following confirmation of Wednesday's sale, an additional dividend of five per cent expected. Receiver Doyle stated that the receivership would be terminated soon as possible after distribution of the dividend.

10. May 29, 1927 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, May 29, 1927

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DOYLE REPORTS ON WEST SIDE BANK'S ASSETS Only 12 Unsecured Notes of Total of 61, Bid Upon, Says Receiver A report on the sale of all assets of the West Side State bank and petition for confirmation of the sale were Saturday filed in district court by S. J. Doyle, receiver of the bank. A hearing to show cause why the sale should not be approved was set for June by Judge H. H. Ewing. The property of the bank. it is stated in the petition, was sold tentatively bulk to Herman Ofstedahl for $2,400. The face value of the accounts due, secured and unsecured. judgments, etc., was in excess of $35,000. The sale of the assets on May 25 was without material interest, it shown by the report, and of a total of 61 notes but 13 were bid upon. These were sold at the following prices: Walter Weller note, $314.41. sold to H S. Hansen. $4: T. Quady note, $169. sold to H. S. Hansen, $1; Julius Peters note for $500, sold to J. E. Peters for $10; Gordon Nelson note for $149. sold to H. S. Hansen for $1; A. Porter note for $99. sold to Frank Wallace for E. and William Mann note for $116. sold to H. S. Han sen for $5; H Mann notes. totaling $893. sold to H. S. Hansen, $10: C. Morin's notes of $150. sold to Frank Wallace, $2: John Dirschman note $182, sold to H. W. Usher, $1; J. F. note, $135. sold to A. Larson. $1, and Sarah and William Cline note of $135, sold to H. S. Hansen, $1. Practically all secured notes were sold individually, and were notes of Mann, $159. sold to H. S. Hansen, $5: E. Dykeman note for $1,340 sold to Frank Wallace. $850 Dahlin notes of $4,015. sold to Dahlin, $11 Martin Frey note of $559. sold to Frank Wallace. $10: Nellis note of $610. sold to Wallace, $15: R. B. Noble note of $2,000. sold to H. W. Usher. $40. and Wallace Sharp note for $104 sold to Wallace, $1. Other property sold individually includes partof lot 8, block 594. Great Falls, sold to D. Stevenson for $920: lot 6, block 13. West Great Falls, sold to W. Usher. $50; A judgment for $143, sold to J. H. Corcoran for $10.50, and office furniture and fixtures. The of the individual sales was but $2,103.

11. July 15, 1927 The Great Falls Leader Great Falls, MT
Article from The Great Falls Leader, July 15, 1927

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Doyle Is Discharged From Receivership of West Side Bank Doyle receiver the West Side Great has been discharge by Judge H. Ewing district and all by checks not yet received dividend creditors of the bank be received Harper from clerk of the court George The West Side bank suspended December paid 70.8 per on general which the highest yet recordered for end the state in liquidated When closed the bank had of day $112.770 liabilities of individual deposits of public posits $24,950 and $17,720 paid up as $26.460 collected from bill receivable and $8,651 from sources