Article Text
Crandon-According to Herbert Pearson, receiver, the first dividend of the defunct First National bank of Crandon is now being paid to all creditors of the institution who had claims filed and affirmed prior + Oct. 31.
First National Bank (Crandon, WI)
Episode Information
- Episode UID
938701504- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
93870national - Charter Number
- 9387
- Start Date
- April 1, 1925*
- Location
- Crandon, Wisconsin (45.572, -88.903)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
eb453c30b951a170
Response Measures
None
Receivership Details
- Depositor recovery rate
- 41.3%
- Date receivership started
- 1925-05-29
- Date receivership terminated
- 1932-09-14
- OCC cause of failure
- Governance
- Share of assets assessed as good
- 46.8%
- Share of assets assessed as doubtful
- 44.8%
- Share of assets assessed as worthless
- 8.4%
Description
Some articles inconsistently state suspension as April 1925 vs April 1926; known receivership date is 1925-05-29.
Events (4)
1.
April 13, 1909
Chartered
- Source
- historical_nic
2.
April 1, 1925*
Suspension
- Cause
- Government Action
- Cause Details
- Bank suspended business and was taken under the control of a receiver appointed by the Comptroller of the Currency.
- Newspaper Excerpt
- The bank suspended business in April, 1925.
- Source
- newspapers
3.
May 29, 1925
Receivership
- Source
- historical_nic
4.
May 29, 1925
Receivership
- Newspaper Excerpt
- the first dividend of the defunct First National bank of Crandon is now being paid to all creditors ... according to Herbert Pearson, receiver, the first dividend ... is now being paid to all creditors ... Oct. 31. (Article mentions receiver and dividends).
- Source
- newspapers
Newspaper Articles (10)
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Article Text
SUIT BROUGHT AGAINST BANK STOCKHOLDERS stockhold ers of the defunct First National Bank of Crandon, Wis., were sued in Feder al court here today for amounts which were assessed against them by the comptroller of currency and which, It is alleged, they have falled to pay The suit was brought by James B. Bereth. receiver for the bank. The bank suspended business in April, 1926. Later the comptroller of the currency assessed each stockhold et $100 for each share of stock held. total of $50,000. The defendants in of their assessments.
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STOCKHOLDERS DEFUNCT BANK SUED MILWAUKEE. Fourteen stockholders of the defunct First National bank of Crandon. Wis. sued in federal court here day for amounts which sessed against them by the comptroller of currency and which. it alleged. they have failed to pay The suit was brought by James Bereth. receiver for the bank The bank suspended business in Later the comptroller April, of the currency assessed each stockholder $100 for each share of stock held. total of $50,000 The defendants in the suits are said to owe all 01 part of their assessments.
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STOCKHOLDERS DEFUNCT BANK SUED Wis. Fourteen stockholders of the defunct First National bank of Crandon, Wis. were sued in federal court here today for amounts which were assessed against them by the comptroller of currency and which, it alleged. they have failed to pay. The suit was brought by James B. Bereth, receiver for the bank. The bank suspended business in April, 1925. Later the comptroller of the currency assessed each stockholder $100 for each share of stock held, total of $50,000. The defendants in the suits are said to owe all or part of their assessments.
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SUIT BROUGHT AGAINST BANK STOCKHOLDERS Fourteen stockholders of the funct First National Bank of Crandon, were sued in Federal court Milwaukee, for which were assessed against them by the comptroller of currency it is alleged, they have failed to The suit was brought by James Bereth, receiver for the bank The bank suspended business in April, 1926. Later the comptroller the currency assessed each stockhold. er $100 for share of stock total of $50,000. The defendants in the suits are said to owe all or part of their assessment.
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CLAIM IS MADE THAT ONLY FEW GOT DIVIDENDS Special Prosecutor for Forest County Grand Jury Permitted to Examine Records of Bank Receiver CRANDON Wis.-Roland Steinle, Milwaukee, special prosecutor for the Forest county grand jury, has received permission to examine the records of Major James A. Bereth, receiver for the First National Bank of Crandon, which went to the wall some time ago. Major Bereth, appointed by the Comptroller of Currency, has been unravelling the affairs of the bank for the last year, and recently instituted suit in federal court in Milwaukee, to recover $131,000 from the bank's directors. The complaint in the suit alleges that during the time John T. Fielding was cashier and a director of the bank, he was guilty of "criminal, reckless, illegal, and improvident acts, which caused loss to stockholders and depositors." This, the complaint said, should have been known to the other directors. Another charge in the suit is that when dividend of $3,000 was declared, only 15 of the 64 stockholders participated. Those named as receiving a cut on the mellon are: Fielding; Pat Shay, Crandon; Barney McGinley, Argonne; J. F. Sparks, Crandon; J. Breakstone, formerly of Crandon; M. D. Kieth, G. W. Ison, and A. E. Carlberg, of Crandon; and T. W. O'Brien, Argonne. Though Fielding, who disappeared from Crandon shortly after the failure of the bank, is reported to have died in Chicago, he is named as a defendant in the suit. Steinle is to make a personal investigation of conditions in a few towns of the county, where conditions are reported exceptionally bad. One of his trips will be to investigate the deaths of a number of persons at Armstrong Creek, at which place several bodies were found under mysterious- circumstances.
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SUIT OF BANK RECEIVER OPENS IN FEDERAL COURT United Press.) suit of James B Bereth. receiver for the First National bank of Crandon, Wis. against stockholders for their 100 percent of the value of 120 shares. par the which disputed. opened in federal The Crandon bank recently* became
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STOCK HOLDERS HELD LIABLE Milwaukee, (AP) Four holders of block of 120 shares of stock in the defunct first National Bank of Crandon were held to be owners of the stock in decision given Friday afternoon by Judge F. Geiger in the district court. The court ruled that the quartet must pay the sessment of $3,000 levied on each by the bank receiver, James Bereth. The four defendants are Barney McGinley, M. Keith, Karlsberg and Dr. Ison. Then denied ownership of the shares, alleging that they merely held the stock as collateral for note.
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Held Owners Of Bank's Stock Milwaukee, April holders block of shares stock in the defunct First National Bank of Crandon held to stock in decision given Friday afternoon Judge Geiger in the United district court. ruled that the must pay the $3,levied each by the bank ceiver, James Bereth. The defendants are Barney McGinley, Keith, Karlsberg, Ison. They denied ownership of the shares, leging that they merely held the stock Mr. Bereth started suit in the Milwaukee ownerand to collect the he under the National bankact.
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FOUR MEN OWNERS OF CRANDON BANK STOCK (By Associated Press) MILWAUKEE. Apr. holders of block of 120 shares of stock the defunct first national banks held to owners the stock in decision given Friday by Judge Geiger the United States district court. court ruled that the quartet pay the of the bank receiver, James Bereth. The four defendants are Barney McGinley, Keith, KarlsIson. They ownership of the shares.alleging that they had the stock for note. Mr. Bereth suit the Milwaukee court ownership the assessments he under the nationbanking act.