Battle Mountain State Bank (Battle Mountain, NV)

Episode Information

Episode UID
94003271595
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
9400327 routing
Routing Number
94-0032
Start Date
November 1, 1932
Location
Battle Mountain, Nevada (40.642, -116.934)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d4534b82d66a402b

Response Measures

None

Description

The bank entered a moratorium on Nov 1, 1932, and was taken over by the examiner on Dec 13, 1932. While depositors petitioned to reopen in 1934, it remained classified as a closed institution under the examiner.

Events (3)
1. November 1, 1932 Suspension
Cause
Government Action
Cause Details
The bank took advantage of a state-wide banking holiday/moratorium called to prevent receiverships.
Newspaper Excerpt
Nevada's banking holiday, which started on November 1, came to an end last night when E. J. Seaborn, state bank examiner, took charge of all the closed state banks in the Wingfield chain and also the Battle Mountain State Bank.
Source
newspapers
2. December 13, 1932 Receivership
Newspaper Excerpt
E. J. Seaborn, state bank examiner, took charge of all the closed state banks in the Wingfield chain and also the Battle Mountain State Bank.
Source
newspapers
3. June 6, 1934 Other
Newspaper Excerpt
Depositors of the closed Battle Mountain State Bank have petitioned for permission to reopen under restrictions. Hearing has been set for June 6
Source
newspapers

Newspaper Articles (3)
1. December 13, 1932 Reno Gazette-Journal Reno, NV

Article Text

BANK EXAMINER NOW IN CHARGE OF WINGFIELD BANKS Reorganization Status Not Changed, However, by Official Move Nevada's banking holiday, which started on November 1, came to an end last night when E. J. Seaborn, state bank examiner, took charge of all the closed state banks in the Wingfield chain and also the Battle Mountain State Bank. The holiday was scheduled to end next Saturday night but the action of the examiner automatically ends the bank holiday. The fact that the state bank examiner now has charge of the state

2. December 14, 1932 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, December 14, 1932

Click image to open full size in new tab

Article Text

Examiners Take Over 13 Banks in Nevada Reno, Nev., Dec. 14.-(P)-Nevada's banking holiday was history Wednesday with the 13 institutions which took advantage of the moratorium called Nov. 1, in the hands of bank examiners. E. J. Seaborn, state bank examiner, said the 12 banks of the Wingfield chain and the Battle Mountain State bank were taken over Tuesday to forestall filing of actions to establish preferential claims. The holiday was ordered to prevent the Wingfield banks. from going into receivership with a consequent liquidation of assets. The Wingfield banks have combined assets of $15,000,000 and nosources of about $21,000,000.

3. June 1, 1934 Mason Valley News Yerington, NV

Article Text

13 STATE BANKS STILL OPEN RENO, Nev., (UP)-Thirteen banks in Nevada are open for business, compared to 31 before the depression, a United Press survey showed. Of the banks open six are national banks, four state banks are operating without limitations and three under restrictions. Thirteen of the 18 closed institutions are in hands of receivers. 4 others have been reorganized into liquidatating companied and one, Bank of, Southern Nevada at Las Vegas, is in voluntary liquidation. Depositors of the closed Battle Mountain State Bank have petitioned for permission to reopen under restrictions. Hearing has been set for June 6 before Judge Edgar Eather at Austin. If the depositors' petition is granted the Batle Mountain institution will be opened for limited business similar to the Lander County Bank, Austin, the Mason Valley Bank at Yerington, and the Wells State Bank. Banks reopening for restricted business under the supervision of State Bank Superintendent E. J. Seaborn are required to freeze all old deposits for a four year period. New deposits must be held in cash, be, deposited with a Federal Reserve bank or invested in federal securities. Banks open for unrestricted business are: Ely National Bank and First National Bank, both at Ely; First National Bank, Lovelock; First National Bank, Elko; First National Bank, Reno: Ruth Bank, Ruth; First State Bank, Las Vegas; First National Bank, Eureka; Farmers Bank of Carson Valley, Minden, and the Bank of Pioche. Those under restrictions are: Lander County Bank, Austin; Wells State Bank, and the Mason Valley Bank. Closed Banks under Leo F. Schmitt as receiver are: Carson Valley Bank, Carson City; Bank of Nevada Savings and Trust, Riverside Bank, and United Nevada Bank, all of Reno; Bank of Sparks; Tonopah Banking Corporation, of Tonopah, and Virginia City Bank. Seaborn is in charge of the following closed institutions: Battle Mountain State Bank; Douglas County Farmers' Bank Gardnerville; The Quinn River Bank, McDermiat; Winnemucka State Bank and Trust Co. The Reno National Bank is in charge of Walter J. Tobin, national bank receiver. Receiver H. S. Streeter is in charge of the First National Bank of Winnemucca. MRS. JOHN FEENEY, former resident of Wabuska, accompanied by her son John, is spending a short vacation visiting at the home of Mrs. Gelmstedt. She will return to San Francisco on Monday. Subscribe to the News.