Central Bank & Trust Company (Lewiston, MT)

Episode Information

Episode UID
93050871490
Episode Type
Run β†’ Suspension β†’ Reopening
Bank Type
trust
Bank ID
9305087 routing
Routing Number
93-0508
Start Date
February 1, 1924
Location
Lewiston, Montana (46.464, -111.986)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5dcc2143ccb61730

Response Measures

None

Description

Newspaper text uses Lewistown while provided city was Lewiston; article context indicates Lewistown, MT.

Events (3)

1. February 1, 1924 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals/renewal of withdrawals and demands to meet payrolls produced a run on the Empire & State bank.
Newspaper Excerpt
The Empire & State withstood a heavy run for a couple of days thereafter and appeared to be safe, when a renewal of withdrawals on Feb. 1 ... forced it to close.
Source
newspapers
2. February 2, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure forced by renewed withdrawals and heavy demands for funds (result of the run).
Newspaper Excerpt
the Empire bank was compelled to close its doors on the second of February
Source
newspapers
3. June 3, 1924 Reopening
Newspaper Excerpt
The doors of the institution will swing open promptly at nine o'clock Tuesday morning ... The reopened bank ... is the Central Bank & Trust company, a reorganization of the Empire State Trust company. The bank was closed in February of this year ... resumed business Tuesday at Lewiston/ Lewistown, a city which has had to struggle along without banking service since its last remaining bank was closed in February.
Source
newspapers

Newspaper Articles (4)

Article from Lewistown Daily News, June 1, 1924

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Article Text

FORMAL PROTEST JAPAN RECEIVED THE TEXT OF THE DOCUMENT IS FORMALLY HANDED TO THE STATE DEPARTMENT BY JAP AMBASSADOR HANIHARA. WASHINGTON, May 31.β€”Japan's "solemn protest" against the exclusion section of the new immigration law was formally presented to Secretary Hughes today by Ambassador Hanihara, and was made public at the state department without comment. Coupled with the protest is the request of the Japanese government that the American government "take all possible and suitable measures" for removal of "discrimination." The communication declares international discriminations are particularly "unwelcome" when "based on race" and adds that discrimination of that character is expressed in the exclusion statute. The history of commercial agreements between the two countries, it is declared, shows that the Japanese government has sought to protect its nationals from "discriminatory immigration legislation in the United States," which position was "fully understood and appreciated by the American government." "The Japanese government desires now to point out," says the note, "that the new legislation is in entire disregard of the spirit and circumstances that underlie the conclusion of the treaty (of 1911)." It is added that the provisions of the new law "have made it impossible for Japan to continue the undertakings assumed under the gentlemen's agreement. "The patient, loyal, and scrupulous observance by Japan for more than 16 years, of these self-denying regulations, in the interest of good relations between the two countries, now seems to have been wasted," the protest continues. At the end Ambassador Hanihara appended the following paragraph: "I am instructed further to express the confidence that this communication will be received by the American government in the same spirit of friendliness and candor in which it is made." Despite the silence of administration officials, it can be said definitely that the state department is in a position to challenge in its reply the Japanese contention that the exclusion act can be construed as a particular discrimination against Japan, and also to take the position that the negotiations leading up to the commercial treaty of 1911, in no way justified an assumption that the United States was willing to limit its complete freedom to deal with immigration questions as it sees fit. In that respect, it is understood that the correspondence between the two governments incidental to negotiation of the treaty shows the specific reservation by the United States of immigration matters from the scope of the treaty. The Japanese argument as to racial discrimination is not regarded here as borne out by the language of the exclusion clause itself. The clause excludes all races not eligible to American citizenship. After working unceasingly for the four months which have elapsed since their old institution, The Empire & State Bank, was closed, the men chiefly interested in that bank are able to announce the success of their efforts and the opening of the new Central Bank & Trust Company next Tuesday. It had been semi-officially announced that the bank would be opened for business Monday, but the great amount of clerical work which it was found necessary to do at the last moment, together with a slight error in the articles of incorporation which was discovered only Saturday by the authorities, made unavoidable the delay of twenty-four hours. The doors of the institution will swing open promptly at nine o'clock Tuesday morning, however, and Lewistown will lose its dubious distinction of being the largest city in the United States without any banking facilities. The directorate of the new bank, which is really a complete reorganization of the old one, will contain the names of several men who have always been dominant in the affairs of the Empire. Samuel Phillips, M. L. Woodman, Harrison Green, H. L. DeKalb, Mathias Wildschultz, John McMillan and Tom Stout comprise the new board and the other officers are: Samuel Phillips, president; M. L. Woodman and Harrison Green, vice-presidents; Henry Skaug, cashier. The names of the assistant cashiers and other members of the working force will be made public soon. Mr. Skaug, the new cashier, while still a young man, has had extensive and valuable banking experience. He came here as a member of the staff of the state banking department to take charge of the affairs of the Empire bank when that institution was compelled to close its doors on the second of February, and has remained ever since. He is thus very familiar with all details of the bank's business and of general conditions in the community as well. The Central Bank & Trust Company starts with a clean slate and under the most favorable of auspices. Ample new capital and surplus have been provided and the deposit of $250,000 obtained from the Agricultural Credit corporation will further strengthen the bank very vitally. It will take over from the old bank other assets which will doubtless prove far more valuable than they are now considered even by the bank officials themselves. The stockholders and officers of the Central Bank & Trust Company desire first of all to provide this community with adequate banking facilities and to so advance the welfare of the institution as to bring about the liquidation of the affairs of the old bank at the earliest date possible. With the co-operation which they hope to deserve and to receive from the people of Lewistown and vicinity, they firmly believe that this liquidation can be completed much sooner than was thought possible at the time of the bank's suspension. Due to the last few day's rush of work incident to the reopening of the bank it was announced yesterday that certificates of deposit would not be disbursed until Monday, June 9. In order to facilitate this work the officials of the bank would appreciate having all old certificates of deposit turned in as early as possible this week in order that new certificates may be issued in lieu of the old ones.


Article from Great Falls Tribune, June 2, 1924

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Article Text

Special to The Tribune. Lewistown, June 1.β€”It had been the intention of the officials of the Central Bank & Trust company which has taken over the old Empire & State bank to re-open the doors of this institution on Monday but Saturday it was found necessary to defer the opening until Tuesday morning. The necessity of a slight change in the articles of incorporation, together with the amount of clerical work to be


Article from Star Tribune, June 4, 1924

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Article Text

Montana Bank Reopens, Aided by Credit Body Agricultural Corporation Enables Lewiston Institution to Resume. The first Montana bank to be reopened through the assistance of the Agricultural Credit Corporation of Minneapolis resumed business Tuesday at Lewiston, a city which has had to struggle along without banking service since its last remaining bank was closed in February. The Lewistown institution is the fourth which the Agricultural Credit corporation has enabled to reopen by advances of funds, the others being in North Dakota. The reopened bank, which is reported to have experienced a heavy run of business during the first hours of its new existence, is the Central Bank & Trust company, a reorganization of the Empire State Trust company. The bank was closed in February of this year, having at that time capital and surplus of $175,000 and total deposits of $1,200,000. The Central Bank & Trust company is capitalized at $100,000 with surplus of $10,000. It resumed business without a dollar of bills payable, according to Ed Schulenberg, Montana executive of the Agricultural Credit corporation, who supervised arrangements for the reopening and made the announcement Tuesday. The officers of the reorganized bank are Samuel Phillips, Lewistown rancher and banker, president, and Henry Skaug, bank examiner in charge of the closed institution, cashier.


Article from The Chester Reporter, June 5, 1924

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Article Text

LEWISTOWN BANK OPENS FOR BUSINESS TUESDAY Lewistown, June 2.β€”It had been the intention of the officials of the Central Bank & Trust company which has taken over the old Empire & State bank to re-open the doors of this institution on Monday but Saturday it was found necessary to defer the opening until Tuesday morning. The necessity of a slight change in the articles of incorporation, together with the amount of clerical work to be done made this delay of a day desirable. The new bank is capitalized for $110,000. Samuel Phillips is the president; M. L. Woodman and Harrison Green, vice presidents; Henry Skaug, cashier and Judge H. L. DeKalb, Mathias Wildschutz, John McMillan and Tom Stout, directors. Lewistown has been without banking facilities for three months. It was on Dec. 10 that the First National the largest financial institution in central Montana, closed its doors. The Empire & State withstood a heavy run for a couple of days thereafter and appeared to be safe, when a renewal of withdrawals on Feb. 1, together with heavy demands to meet payrolls, forced it to close.