Celebrating History: Banks close in Hill County

by Emily Mayer

The big news in Havre 100 years ago was not that great. At the time, Havre had two banks-Security State Bank and the Montana National Bank. The following was published on the front page of the January 23, 1924, edition of the Havre Daily Promoter:

SECURITY STATE BANK OF HAVRE CLOSES DOORS

PIONEER BANKING INSTITUTION SUSPENDS AS RESULT OF SERIES OF HEAVY WITHDRAWALS LESSENING DEPOSITS

Officers of the Security State Bank of Havre yesterday morning posted notice that the bank was closed and its affairs were placed in charge of George W. Graff, deputy state bank examiner, sent to Havre on request of the directors of the bank to State Superintendent of Banks L. Q. Skelton.

No statement of the financial condition of the bank was made yesterday by the deputy examiner or by the officials and it will be several days before a complete examination of its affairs is finished.

The action of the officials of the bank followed a series of heavy withdrawals, amounting to about $106,000 last week, and was taken to protect the interests of the depositors.

The statement of the bank made at the time of the last call, December 31, 1923, showed footing of $952,995.81, with deposits aggregating $753,691.30. Officers of the bank and those who had looked into its paper yesterday were optimistic as to the condition of the bank and expressed the opinion that the examination would disclose it was solvent.

There was talk of an effort to reorganize and reopen it and also liquidating and the appointment of a receiver. It was said that the officers of the bank felt that the continual drain that is being made through deposits placed with the government made it advisable to close.

Frank Buttrey organized a meeting at the Elks Lodge and it was reported 200 local business and professional men were present. It was reported that 100 new depositors had opened accounts at the Montana National Bank including civic groups such as the Kiwanis and Rotary, and several of Buttrey’s employees also opened new accounts.

A list of new depositors was published in a separate article, something you wouldn’t ever see today due to privacy laws.

Havre wasn’t the only Hill County community reeling from a bank closure. This short article was found on page 4 of the same edition:

KREMLIN BANK CLOSES

The Farmer’s State Bank of Kremlin closed yesterday following the closing of the Security State Bank in Havre and the directors of the Kremlin bank held a meeting last night with the deputy state bank examiner.

As mentioned above, the meeting took place at the Elks Lodge, which was located where Cottonwood Theatres are today. That wasn’t the only thing going on at the Elks. The January 20, 1924 issue announced the Elks would be hosting a boxing show that coming Tuesday. In Wednesday’s Promoter, January 23, 1924, the results were published:

ATHLETES MATCHED IN SHOW AT ELKS CLUB

Boxing, jiu jitsu and Kin jitsu were the features of the show put on at the Elks hall last night by James Moran, chief of police.

Chief Moran’s class of boys who are taking boxing lessons at the Welfare club gymnasium ranked from the 95 pound class to the 140 pound class, all showing up exceptionally well particularly as it was a first appearance for most of them.

The Japanese men who gave an exhibition of jiu jitsu and kin jitsu were greatly appreciated. The boxing bouts lasted three rounds of two minutes each.

The program was followed by a lunch of hot dogs and coffee. The participants and the class in which they appeared follow:

140 pound class-Chuck Donnelly vs. Walter Jackson.

135 pound class-Earl Moore vs. Paul Faber.

115 pound class-Tony English vs. Conley Lanham.

110 pound class-Ted Johnson vs. Lee Grady.

95 pound class-Roderick Chishelm vs. Sonny Mack.

Jiu jitsu-George Shibata vs. S. Ikeda.

Kin jitsu-H. Kato vs. Islya.

Other events taking place at the Elks would be a dance hosted by the Order of Railway Conductors on St. Valentine’s Day and the Hallowell Concert Company from Chicago was to give a musical program followed by a dance on January 30.

There was more than one “that one” who got ink in the Promoter. The January 22, 1924 issue contained this news:

TWO MEN ARRESTED FOR GAMBLING AT OXFORD

H. E. Pool and a man by the name of McGlinn were arrested last night after Sheriff Timmons and Deputy Herron had raided the Oxford pool hall and broken up a game of poker.

Twelve or 15 men were in the games when the officers appeared. Pool and McGlinn put up a $150 cash bond and were released.

Raids conducted by the sheriff’s force last week netted 82 quarts of gin, whiskey and beer, all of which is now safely stored in the sheriff’s vault.

Saturday evening three raids were pulled off by Sheriff Timmons, Undersheriff George Isaacs and Deputies George Herron and Leonard Clark.

Seventeen quarts of liquor were taken from the Mike Lewis place back of the Bank saloon and a number of jugs and bottles which smelled suspiciously of intoxicants were found at the Tom Foley place next door.

The officers also visited the Oxford pool hall on the lookout for gambling but nothing was found.

It is expected arrests will be made in connection with the raids in a few days.