Security Bank - Pipestone, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 28, 1933
Location: Pipestone, Minnesota (44.001, -96.318)

Metadata

Model: gpt-5-mini
Short Digest: 02ee2c97

Response Measures

None

Description

Article states Security Bank of Pipestone was closed and a receiver (John Salstrom Bigelow) has arrived to take charge. No mention of a depositor run; closure with receiver implies suspension leading to permanent closure/receivership.

Events (2)

1. June 28, 1933 Receivership

Newspaper Excerpt: New Bank Receiver Pipestone, John Salstrom Bigelow, Minn., has arrived here to take charge of the affairs of the closed Security bank of Pipestone.
Source: newspapers

2. June 28, 1933 Suspension

Cause: Government Action
Cause Details: Bank was closed and a receiver appointed to take charge of its affairs.
Newspaper Excerpt: New Bank Receiver Pipestone, John Salstrom Bigelow, Minn., has arrived here to take charge of the affairs of the closed Security bank of Pipestone.
Source: newspapers

Newspaper Articles (1)

1. June 28, 1933 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, June 28, 1933

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Article Text

son of Benson, was an honored guest banquet The timonial was arranged by friends of the policeman in recognition his coolness bravery denced roundup the Bonud gang of bandits and kidnapers last winter. Elevator Pays Dividens Windom, Minn. Special: The stockholders of the Farmers tor company here are happy. The board of directors has just dividend of per and payment will be made Charles Hofstrom, manager, declared that the year just passed was the est year in the last 23. Lincoln County to Hold Fair Tyler, Minn. Special: Lincoln county will have fair the coming fall as in the past. This decision has been arrived at by the directors of the agricultural organization and the date of the event will soon be fixed. New Bank Receiver Pipestone, John Salstrom Bigelow, Minn., has arrived here to take charge of the affairs of the closed Security bank of Pipestone. He succeeds C. Berg. Corn and Machinery Burn Westbrook, 200 bushels of corn when the corn crib the Roy farm. three miles east threshing machine also was destroyed.