American Trust & Savings Bank (Cedar Rapids, IA)

Episode Information

Episode UID
987504091612
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
98750409 hash
Start Date
April 24, 1934
Location
Cedar Rapids, Iowa (42.008, -91.644)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8a58a717a715c2aa

Response Measures

None

Description

Receivership under state superintendent and liquidation plan indicate permanent closure.

Events (4)
1. April 24, 1934 Suspension
Cause
Government Action
Cause Details
State superintendent D. W. Bates filed petition under Senate File 111 and a receiver was appointed for the bank.
Newspaper Excerpt
appointed receiver the Cedar Rapids Savings bank and the American Trust bank this city Judge the district after Bates had filed petition
Source
newspapers
2. May 3, 1934 Other
Newspaper Excerpt
Legal entanglements ... plan of liquidation for the Cedar Rapids Savings bank and the American Trust bank ... depositors ... will receive 50 percent pay-out of their frozen funds ... first pay-out will aggregate $1,500,000 and will be made through the new bank, the Guaranty Bank & Trust
Source
newspapers
3. July 14, 1934 Other
Newspaper Excerpt
claimants ask the court to declare their claims against the American Trust and Savings bank to be preferred claims ... petitions filed in district court
Source
newspapers
4. September 29, 1934 Other
Newspaper Excerpt
appointed permanent appraisers in the receiverships of the Cedar Rapids Savings bank ... and the American Trust and Savings bank ... application ... made by D. W. Bates, state superintendent of banking, as receiver for both banks
Source
newspapers

Newspaper Articles (7)
1. April 8, 1934 The Sioux City Journal Sioux City, IA

Article Text

Nebraska Negro Gets Life Term in Murder Case Gering, district court jury late Friday night convicted Bert Williams, 40, North Platte Negro, of murder in the first degree, and set his penalty life imprisonment. It deliberated five hours. Williams was charged with the murder "Happy Joe" Camper, Negro restaurant owner, in Scottsbluff March On the Williams said he "shot Camper to keep him from killing me." He accused Camper of drawing pistol from pocket, before he was shot. Other witnessee denied that Camper made any move to defend himself. Bank Receiver Suits Cedar Rapids, asking appointment of receivers for the Cedar Rapids Savings bank and the American Trust and Savings bank of this and attacking the stitutionality senate file 111, under which those banks have been operating, were filed Saturday in district court by Harry Paar as executor of the H. Foy estate. Emery Business Men Organize Emery, The Emery Business Men's association has been formed here. Floyd Hanlon has been named president; Tom Nolan, secretary Melvin Swyter, Litz and Ed Leiten were elected directors.

2. April 18, 1934 The Daily Nonpareil Council Bluffs, IA

Article Text

DISMISS CEDAR RAPIDS BANK RECEIVER PLEA CEDAR April 18. (P) filed April and which to be heard today asking the of receivers the Cedar Rapids Savings bank and the American Trust and Savings bank. this city, and which attacked of Senate File 111, under which those banks have have court the plaintiff. Harry executor the Foy estate. The dismissal order was entered by Judge John Moffit.

3. April 24, 1934 The Courier Waterloo, IA

Article Text

Cedar Rapids Bank in Receiver's Hands Cedar Rapids, Bates. of banking day appointed receiver the Cedar Rapids Savings bank and the American Trust bank this city Judge the district after Bates had filed petition such action Judge Clark's order specified receiver should proceed liquidation until further order the status insofar deposits the Senate File 111, under which banks have been Deposits the banks under Senate File fected the receivership

4. May 3, 1934 The Daily Times Davenport, IA

Article Text

$1,500,000 CEDAR RAPIDS, May sociated Press) Legal entanglements which had blocked posed plan of liquidation for the Cedar Rapids Savings bank and the American Trust bank of this city, and the organization of new bank, were cleared today with the result that depositors in the two old banks will receive 50 pay-out of their frozen funds per within few days, possibly this week. The first pay-out will aggregate $1,500,000 and will made through the new bank, the Guaranty Bank & Trust which capitalized with $50.surplus and undivided profits. Heading the new bank president will Van Vechten Shaffer Cedar Rapids, former vice president of the National bank. George Laird, general manager of the Quaker Oats plant here, will be vice president the bank and Reginald B. Figge of Ossian will be cashier. suits which had been filed state and federal courts by the Order of Railway Conductors and James Lavelle against the Cedar Rapids Savings the American Trust the receivership obtained by Bates, state superintendent of banking, against both banks was vacated and Mr Bates' application for new ceivership of the two banks under senate file 111 was approved.

5. July 14, 1934 The Gazette Cedar Rapids, IA

Article Text

Ask Preferred Claims. In four petitions filed Friday in district court, the claimants ask the court to declare their claims against the American Trust and Savings bank to be preferred claims, and that they be paid by the bank receiver from funds in the bank at the time of closing. Howard H. Cherry, Ralph R. Ellis, and Kenneth Lindsay presented a claim for $147.41 against the bank as executors of the Fred A. Lyman estate. Gus Freeman asked $6,716.21 as executor of the Doris Kine estate. Ira D. Hendrickson asks that a trust fund of $804.84 left in the bank at the time it closed be ruled a preferred claim. Harold E. Travis, guardian for Harlan D. Travis, asks that a claim of $291.46 be set aside as a preferred claim against the bank. Edward J. Nemec, in a petition filed Saturday in district court, asks a divorce from Leona Nemec on grounds of cruel and inhuman treatment. Mr. and Mrs. Nemec were married in Cedar Rapids July 18, 1932. Will Of Ida Blocklinger. The will of Ida Blocklinger of Cedar Rapids was admitted to probate Saturday in district court, with bequests made equally to Christian Blocklinger, husband; Clara Hendryx, niece; Cecil Ross Folkins, nephew; Joseph Blocklinger, son; and Lydia Blocklinger, niece. Christian Blocklinger was appointed executor of the estate without bond.

6. July 14, 1934 The Gazette Cedar Rapids, IA

Article Text

Sues Life Ins. Co. Isla M. Gibson filed notice of suit against the Bankers Life Insurance company of Des Moines in district court Saturday, asking for $831.52 allegedly due her by the company from a life insurance policy on Oliver J. Boland. The policy was for $2,000, of which the plaintiff is claiming one-third, with interest. Bldg. Accts. To Be Separate. Judge A. B. Clark in district court Saturday granted the plea of D. W. Bates, receiver for the American Trust and Savings bank and the Cedar Rapids Savings bank and Trust company, that the building accounts of the two bank buildings

7. September 29, 1934 The Gazette Cedar Rapids, IA

Article Text

Appraisers Appointed In Two Bank Receiverships Horace G. Hedges, W. J. Conway, Harvey C. McClary, H. J. Soper, C. M. Doolittle, and Robert I. Safely were appointed permanent appraisers in the receiverships of the Cedar Rapids Savings bank and Trust company, and the American Trust and Savings bank in district court by Judge H. C. Ring Saturday morning. The application for appointment was made by D. W. Bates, state superintendent of banking, as receiver for both banks. Asks For Former Name. Shirley Keith in a district court divorce suit against Floyd D. Keith asks restoration of her former name of Shirley Sauter, a name under a former marriage. The name was erroneously given as her maiden name in Friday's Gazette. Her maiden name, according to Henry Sauter, 818 A avenue NE, was DeWitt. The word "tabloid" was coined fifty years ago as a name for compressed chemical products, and is