10856. Citizens National Bank (Fargo, ND)

View Charter #3602 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3602
Charter Number
3602
Start Date
January 2, 1897
Location
Fargo, North Dakota (46.877, -96.790)

Metadata

Model
gpt-5-mini
Short Digest
e579c2d7b5208aae

Response Measures

None

Receivership Details

Depositor recovery rate
71.2%
Date receivership started
1897-01-07
Date receivership terminated
1903-06-15
OCC cause of failure
Losses
Share of assets assessed as good
17.2%
Share of assets assessed as doubtful
66.3%
Share of assets assessed as worthless
16.5%

Description

Multiple contemporaneous newspaper reports (Jan 2–8, 1897) state the Citizens' National Bank of Fargo was taken into possession by the national bank examiner (suspended) on Jan 2, 1897; a temporary receiver was appointed by the Comptroller on Jan 7, 1897 and later paid dividends to creditors. Articles explicitly note there was no run. The sequence is a suspension by government action followed by receivership and winding up, so classify as suspension_closure.

Events (5)
1. December 14, 1886 Chartered
Source
historical_nic
2. January 2, 1897 Suspension
Cause
Government Action
Cause Details
National bank examiner took possession and closed/suspended the bank; officials said cash items were unavailable and examiner thought best to close. Reports state there was no run.
Newspaper Excerpt
FARGO, N. D., Jan. 2.-National Bank Examiner Anheier took possession of the Citizens' National bank at 2 o'clock this afternoon.
Source
newspapers
3. January 7, 1897 Receivership
Source
historical_nic
4. January 7, 1897 Receivership
Newspaper Excerpt
The comptroller of the currency has appointed ... Examiner Anheirr receiver of the Citizens National of Fargo, N. D.
Source
newspapers
5. October 29, 1897 Other
Newspaper Excerpt
Checks were received this morning from the comptroller of the currency for payment of the 20 per cent dividend recently declared in favor of creditors of the Citizens' National bank. Receiver Anheiner will distribute the funds at once.
Source
newspapers

Newspaper Articles (21)
1. January 2, 1897 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, January 2, 1897

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Failures of the Day. aha, Jan. 2.-The Omaha Sav1.60 bank failed to open this morning. The liabilities are $850,000, the assets $200,000 in excess of this. Cleveland, Jan. -Thirty judgments aggregating $85,000 were filed against the Dorner & Dutton Man facturing company and Derner Foundry company, among the largest car wheel manufacturers in the country. A receiver is applied for. Batavia, Ill., Jan. 2.-The Western Paper Bag company, one of von Norwick's plants, was placed in the hands of a receiver by the United States courts. Whitehall, Mich., Jan. 2. -The bank examiner took possession of the Whitehall savings bank today. Fargo, N. D., Jan. 2.-The Citizens' National bank failed this afternoon.

2. January 3, 1897 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, January 3, 1897

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First National of Cripple Creek-The Van Nortwicks Let the Western Paper Bag Company go-Car Wheel Companies Fail-Other Smashes. Omaha, Jan. 2.-The Omaha Savings bank failed to open its doors this morning, and it is in the hands of the state banking board. A meeting of the clearing house was held yesterday, à most unusual proceeding on a holiday, and it is presumed that they took action which caused the Savings bank to close. The total liabilities of the institution is $830,000, and the assets exceed this sum by $200,000. "The Omaha Savings bank was organized fifteen years ago," said General Manderson, its president. "It was started because of the apparent demand for such an institution in Omaho. It is the oldest bank of that character in the city and the only one that during its career has confined itself structly to the legitimate business of a savings bank. "The bank today owes $750,000 to its depositors and $140,000 to the commercial banks, making the total liabilities cost $890,000. Taking our real estate at our real estate and other securities have simply and at their face value, we liabilinearly $200,000 of assets beyond this While the bank is unable at it ties. to pay its depositors on demand take time amply solvent, and while it will be is time to realize, not a dollar will In some by any double liability addition lost to the the the the the stocknolders.whic the the stockholderswhich swells the amount to at least $1,200,000. expectation is that with careful bank management My of the affairs of the will closing its business, much labor with in saved. The simple fact is that dedebtors be of a bank in these times of and pression unable to pay their loans the cash reserve having run below 5 our cent required by law, for the protec- close per of our depositors, we had to business. tion The community need feel it." no alarm, for there is no necessity for BANK FAILURE AT FARGO.® Minneapolis, Jan. 2.-A special to cit- the Journal from Fargo, N. D., says the izens National bank failed this afternoon. SIXTY DAYS NOTICE WAIVED. Minneapolis, Jan. 2.-The Farmers and Mechanics Savings bank has decidto waive its privilege of demanding of ed sixty days notice before withdrawal a deposits. This is taken to indicate cirmuch better feeling in local banking cles. RUN AT CRIPPLE CREEK. Cripple Creek, Colo., Jan. 2.-There has been a run today on the First National bank which, the bank's officers say, was caused by the circulation of a report by that the bank would not open today, man whon, they had refused a loan. a Small depositors formed in line and were A paid. No big deposits were touched. special train was run from Colorado Springs with $50,000. President Parker than "We have on deposit more be enough said: to pay every dollar, should it demanded, but only small depositors seem anxious, and business men, mining men and personal friends are depositing more than is being drawn out." VON NORTWICK'S AFFAIRS. Chicago. Jan. 2.-The Western Paper company, one of the Van NortPag wick's plants, was placed in the hands of of receiver today by Judge Grosscup G. a United States court. William Stevens the was appointed receiver. No statement of assets and liabilities was but from the amount of the receiver's filed, bond, which was placed at $100,000, and the general statement of the attorthe liabilities will probably exceed neys, with assets about the same. $100,000, Confessions of judgment were made to N. Brokaw for $2,850 and to Karne- the Holmes H. & Krauthoff of Kansas City, latter firm filing a bill for the appointment of a receiver in connection with its attachment. CAR WHEEL COMPANIES AIL. Cleveland. O., Jan. 2.-Thirty judgments, aggregating about $85,000, court have been taken in the common pleas the Dorner & Dutton manufacagainst turing company and the Dorner Found- are company. Both concerns, which among ry the largest car wheel manufacof the country. are practically An owned turers by H. A. and R. H. Dorner. application has been filed asking believed for the appointment of a receiver. It is that the assets will exceed liabilities many times over. BUCKLEN'S ARNICA SALVE. The Best Selva in the world

3. January 3, 1897 The News & Observer Raleigh, NC
Article from The News & Observer, January 3, 1897

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OMAHA BANK FAILURE. / The Usual Excellent Condition is Reported and Lack of Significance. Omaha, Neb., Jan. 2.-The Omaha Savings bank failed to open its doors this morning and is in the hands of the State banking board. A meeting of the clearing house was held yesterday, a most unusual proceeding on a holiday and it is presumed they took action which caused the Savings bank to close. Total liabilities of the institution is $850,000 and the assets exceed this amount by $200,000. The securities are excellent and but little loss can result to depositors. The bank has been existence for 15 years. It has no connection with any other bank and will not cause other Omaha institutions any inconvenience. FARGO'S BANK GOES. Fargo, N. D., Jan. 2.-The Citizen's National bank failed this afternoon. The bank is in the hands of the National bank examiner, Anheimer. The capital is $100,000. The president is H. F. Miller, Cashier, C. C. Schuyler. The bank's accounts were slow. The failure has had little effect in Fargo. THE BOOM COMING. Bethlehem, Pa., Jan. 2.-It was announced to-day that the Bethlehem Iron Company intends to renew operations in all its mills, giving employment to thousands of mon. The Blooming mill started to-day and the other departments will resume on Monday. The companies ordnance will continue running day and night. A large shipment of turret armor plates was made to-day for the Iowa. RUN ON CRIPPLE CREEK BANK. Cripple Creek, Col., Jan. 2.-There was a run to-day on the First National bank, which the bank's officers say was caused by the circulation of a report that the bank would not open to-day by a man whom they had refused a loan. Small depositors formed in line and were paid. No big deposits were touched. A special train was run from Colorado Springs with $50,000. THE BANKER GOES FREE. Denver, Col., Jan. 2.-Under| instructions of Judge Butler, who said the evidence was sufficient to convict, the jury in the district court to-day returned a verdict of not guilty in the case of Frank Atkins, president of the Colorado Savings banks, indicted on a charge of having

4. January 3, 1897 The Herald Los Angeles, CA
Article from The Herald, January 3, 1897

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THE BEST PRESCRIPTION he receivers acting "The Omaha Savings bank was organ3 to realize all they ized fifteen years ago," said Gen. Manbefore looking into derson, its president. "The bank today $ of the law. owes $750,000 to its depositors and $140,000 to the Commercial bank, making the to) was one of Mr. tal liabilities $890,000. Taking our real timate friends and estate at cost and other securities simply was the last man at their face value, we have nearly $200,nond. Mr. Palmer 000 of assets beyond liabilities. While Hammond' called at the bank is unable at this time to pay Evanston, which is depositors on demand, it is amply solalk from the house vent, and while it will take some time to ammonds, about 8 realize, not a dollar will be lost by any He remained there creditor or depositor. In addition to versation with Mr. the assets, there is also the double lia1 of the future, and bility of the stockholders, which swells to place Mr. Hamthe amount to at least $1,200,000." eet. Mr. Palmer IN NORTH DAKOTA. mmond frequently MINNEAPOLIS, Minn., Jan. 2.-A the general theme, special to the Journal from Fargo, N.D., ) to be entirely obsays the Citizens' national bank failed ce of any one. He this afternoon. an effort to underIN MICHIGAN. g said to him, but WHITEHALL, Mich., Jan. 2.-Bank aw plainly that Mr. Examiner Angell took possession and vas weakened and closed the Whitehall State Savings bank ere weighing more today. No statement is made. The last n had been noticed report showed deposits of $80,000; loans and discounts, $92,000. arrival home he PAID ALL COMERS. s room, and Mrs. CRIPPLE CREEK, Col., Jan. 2.-A run lmost Immediately was precipitated at the First National mbers Mr. Hambank today by a man to whom was rethe room about 2 fused: a small loop, saying the bank eir baby. The supwould not open today. Small depositors ammond left the formed in a line and were paid. No big fter this with only deposits were touched. A special train d a dressing gown was run from Colorado Springs with r his apparel was $50,000 belonging to President J. M. Parapparently as he ker. Parker said: "We have on hand ught by Mr. Palmer a deposit more than enough to pay every went directly to the d'ollar should it be demanded, but only lung himself in the small depositors seem anxious, and busi: said it was his ness men, mining men and personal ond had carried in friends are depositing more than is be: $60,000 of life ining drawn out." er said that ever BETTER FEELING PREVAILS. I of the articles reMINNEAPOLIS, Minn., Jan. 2.-The It he had not been Farmers and Mechanics' Savings bank : he worried about has decided to waive its privilege of des certain. manding sixty days' notice before withHammond is situdrawal of deposits. This is taken to d) boulevard, in indicate a much better feeling in local erected five years banking circles. 55 than $30,000. and

5. January 3, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 3, 1897

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Fargo Bank Suspends. FARGO, N. D., Jan. 2.-National Bank Examiner Anheier took possession of the Citizens' National bank at 2 o'clock this afternoon. The officers of the bank are H. F. Miller, president; C.C. Schuyler, cashier. The last statement published at the close of business Dec. 17, shows bills payable and notes and bills rediscounted $55,000, with a capital of $100,000. Cash items were strong, about 50 per cent. but only little of it available. Little excitement was created, as it is the general opinion the embarrassment is only temporary. Statements of all other banks published within the last two weeks are remarkably strong, and there was no run on other institutions. The bank examiner and bank officials will make no statement until the examination is completed.

6. January 4, 1897 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, January 4, 1897

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Citizens' National Bank of Fargo. FARGO, N. D., Jan. 2.-Bank Examiner Anneir has been in possession of the Citizens' National Bank since 2 o'clock this afternoon. No statement of the affairs of the institution will be given out by either the examiner or officials till the examination of the books is completed. The last statement Dec. 17. showed bills discounted and payable $55,000, while the capital was only $100,000. The cash items were unavailable and the examiner seemed to think it best to close the institution. As no run was made on the bank and the assets are unimpaired, the embarrassment will probably be only temporary and reorganization will be easy. There was no excitement nor anything approaching a run on the other banks. Some business interests closely allied with the bank will suffer, but it is not thought the effect will be serious. President Miller is in Boston negotiating for funds.

7. January 7, 1897 Jamestown Weekly Alert Jamestown, ND
Article from Jamestown Weekly Alert, January 7, 1897

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Chizen's National Bank. The Citizens National bank at Fargo eed down Saturday afternoon and nk Examiner Anheir took charge. ere was no run and no embarraesment the other Fargo banks. It 18 said suspension will be but temporary. esident H. F. Miller is in the east. cashier is C. C. Schuyler. Martin ector is vice president. Directors are P. Lough, Max Stern, W. B. Doug38, Geo. V. Smith, J. F. Schoeninger Hector. Capital paid in $100,000, rplus $35,000. The bank had a hard to pull through several years ago. be other banks organized a clearing use and to protect themselves and hers ecided to pay no time certificates itil they matured. a wise precaution. The directore of the Union National ak at Grand Forksamong them Judge o:liee, have publicly assured depositore the bank has su fficient t cash resources pay alliite deposits due on demand. action was taken since the closing the Second National bank of that ts.

8. January 7, 1897 River Falls Journal River Falls, WI
Article from River Falls Journal, January 7, 1897

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stove. Near Decatur, Ga., Tom Flanagan, wh e drunk, shot and killed G. W. Allen and wife and Miss Ruth Slack. The doors of the Second national bank at Grand Forks, N. D., wereclosed, with liabilities of $150,000. In Colorado the production of precious metals in 1896 was: Gold, $16,500,000; silver $12,058,000. In Utah the production was: Gold, 93,896 fine ounces; silver, 8,728,705 fine ounces. Hazen S. Pingree was inaugura governor of Michigan. The oldest railroad director in the world, Samuel M. Young, died in Tole do, 0., in his 91st year. In ten days the five children of Ja is Vogel, of Sandusky, O., died from diphtheria. Charles A. Weyrich, aged 24, and Charles D. Carpenter, aged 29, two close friends, ended their lives in the Planter's hotel in St. Louis by taking poison. No cause is known for the deed. Cyclone nearly demolished the town of Mooringsport, La., and killed the four children of Jesse Goodman. Many other persons were injured, some fatally. The Tennessee legislature convened at Nashville for a session to last 75 days. A freight train ran into a landslide near New Haven, Mo., killing Engineer Homar Evans, Fireman Henry Horkup and Brakeman J. E. McQueen. The doors of the State savings bank at Whitehall, Mich., were closed with liabilities of $100,000. In Chicago William A. Hammond, aged 45 years, second vice president of the National Bank of Illinois, that failed recently, committed suicide by drowning himself in Lake Michigan. At Fargo, N. D., the Citizens' national bank suspended payment. At Omaha, Neb., the savings bank closed its doors with liabilities of $850,000; assets, $1,000,000. Flames which started in Lebeck's dry goods store in Nashville, Tenn., destroyed ten buildings, the total loss being $400,000. After 30 years of judicial service Jus. tice R. Rothrock has retired from the supreme court of Iowa. At Devil's Lake, N. D., the Merchants' national bank closed its doors, with liabilities of $50,000. Edward Scofield was inaugurated a3 governor of Wisconsin. Advices from different sections of Michigan say that great damar has been done by heavy rains. In Chicago an ordinance passed by the city council will have the effect of obliterating the high hat in theaters and music halls. Seven miles northeast of Nelson, Neb., three stock men were frozen to teath. Five men were killed by an explosion in a mine at Hartshorne, I. T. The Germania bank in St. Paul closed its doors with liabilities of $1,000,000 and the West Side bank followed suit owing depositors $113,000. Richard Cornelius, cashier of the National farmers' and planters' bank in Baltimore, Md., being a defaulter to the extent of $60,000, committed suicide by drowning himself. Legislatures of California, Montana and Idaho met in their respective capitals. In Montana Robert B. Smith was inaugurated as governor and in Idaho Gov. Frank Steunenberg took the oath of office. Fire destroyed the Wyoming state

9. January 7, 1897 The Globe-Republican Dodge City, KS
Article from The Globe-Republican, January 7, 1897

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LATE NEWS NOTES. Nashville, Tenn., had a $400,000 fire. During 1896 English railway receipts increased $16,000,000. The health of the crazy King Otto of Bavaria has remarkably improved of late. General Daniel E. Sickles is very ill from the effects of overwork in the recent campaign. As the result of a telephone war Northern Michigan towns are enjoying free telephones. Governor Leedy, of Kansas, will continue the police board system of the cities of the first-class. It is said that Mr. Bryan is using his influence in Kansas for John Atwood for United States senator. The Western Paper Bag company of Chicago. one of the Van Nortwick plants, is in the hands of a receiver. Lord Penrhyn has closed down his state quarries in Wales and thrown 5,000 men out of work rather than give in to the union. Attorney General Boyle of Kansas has appointed George R. Snelling of Anthony. a Silver Republican, assistant attorney general. The Pennsylvania senatorial contest is very warm. Wanamaker and Penrose are the only candidates. Quay is working for Penrose. The increase in the French army is to be offset in Germany by a similar increase in the army and navy atacost of 50,000,000 marks. Nearly every oatmeal and cereal mill in the United States has just entered into a trust, and prices will be advanced. Jimmy Duffy, a featherweight pugilist, of Boston was killed in a ten round contest with George Justice in New York. Miss Emma Spreckels, daughter of the sugar multi-millionaire, was secretly married to Thomas Watson, a grain broker, of San Francisco. The Omaha Savings bank has failed. Liabilities, $890,000; assets, over $1,000,000. White Hall, Mich., Savings bank failed. Citizens' National bank of Fargo, N. D., failed. It is practically decided that J. T. Lloyd of Shelbyville is to be the Democratic nominee for congress in the First Missouri district to succeed the late R. P. Giles. The six davs' international bicycle race was won by Waller, the "Flying Dutchman" by one and one-half laps ahead of Harry Maddox. Waller 874 miles, 5 laps. Maddox 874 miles, 3½ laps. The Illinois Steel company has given notice of a cut in wages, to go into effect on February 1, from the highest salaried employe down to the rawest recruit. The cut is to be from 10 to 50 per cent. The Bayview mills at Milwankee have received similar notice. A canvass of the members of the New York legislature shows that Tom Platt has a walk away for senator. Mr. Hanna has accepted an invitation to attend the dinner in honor of the event on January 26. The New York Tribune charges that the sugar trust has bought up the California legislature and will elect Samuel Shortridge, the counsel of John C. Spreckels, United States senator to succeed Perkins, who was thought to be sure of re-election. Henry Husted, cashier Union County National bank, Liberty, Ind., committed suicide by hanging. Ilis accounts all straight. Nellie Uren. 19 years of age, and Obbie Heath. 18, of Chicago, decided to commit suicide together because their parents opposed their marriage. The boy watched the girl kill herself by drinking carbolic acid, and then backed out at the last minute. On January 1. Missouri had a balance in the treasury of $577,463.05, with a bonded debt of $5,000,000, bearing interest at the rate of 3½ per cent. and all subject to call at the option of the state. Senator Wolcott of Colorado is going to Europe to confer with bimetallists on the subject of a monetary conference. The silver senators have unanimously decided to oppose all confirmations of appointments to office made in place of silver men who were removed because of their support of Bryan. A Cleveland justice court hasdecided that Chairman Hanna's son must pay his election bets. Burglars blew open the safe of the bank of Alma, Mo., with dynamite and stole $1,S00. Two Chinamen were murdered and robbed by unknown parties at Butte, Mont. William G. Park of Duluth committed suicide rather than stand prosecution for stealing $8,000 from the sugar trust. Thomas Kay of Mound City, Kan., got ten years for killing his wife and then burning the body. He is 79 years old. County Teasurer Jenrigan, of Austin, Texas, shot himself. He was $6,000 short. Two negroes are under arrest for causing the Cahaba River, Ala, railroad wreck. Eugene V. Debs has left the Populist party and is now a straight Socialist. The directors of the Dime Savings bank of Chicago saved the institution by paying in an assessment of fifty per cent. The Farmers' and Merchants' bank

10. January 7, 1897 The Worthington Advance Worthington, MN
Article from The Worthington Advance, January 7, 1897

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The five children of Jacob Vogel, of Sandusky, 0., died in ten days from diphtheria, Two close friends, Charles A. Weyrich, aged 24, and Charles D. Carpenter, aged 29, ended their lives in the Planter's hotel in St. Louis by taking poison. No cause is known for the deed. Ex-Congressman Augustus W. Cutler died at his residence in Morristown, N. J., from the effects of a surgical operation, aged 61 years. Edward Wright (colored) was hanged at Wilmington, Del., for kiling Ida Crummel (colored), of whom he was jealous, on July 30, 1896. The production of precious metals in Colorado in 1896 was: Gold, $16,500,000; silver, $12,058,000. In Utah the production was: Gold, 93,896 fine ounces; silver, 8,728,705 fine ounces. Helen M. Gougar, of Indiana, the pioneer champion of prohibition and universal suffrage, and a member of the central committee of the national prohibition party, has been expelled from that committee. At the capitol in Lansing Hazen S. Pingree was inaugurated governor of Michigan. Frank S. Black was inaugurated at Albany as governor of New York. A cyclone struck and almost literally demolished the town of Mooringsport, I.a., and killed the four children of Jesse Goodman. Many other persons were injured, some fatally. The Fiftieth general assembly of Tennessee convened at Nashville for a session to last 75 days. A Missouri Pacific freight train ran into a landslide near New Haven, Mo., killing Engineer Homar Evans, Fireman Henry Horkup and Brakeman J. E. McQueen. The State savings bank at Whitehall, Mich., closed its doors with liabilities of $100,000. William A. Hammond, aged 45 years. second vice president of the National Bank of Illinois, that failed recently in Chicago, committed suicide by drowning himself in Lake Michigan. The Citizens' national bank at Fargo, N.D., suspended payment. The total government receipts during December were $25,857,114, and the expenditures $23,812,664, which leaves a surplus for the month of $2,044,450. For the six months of the fiscal year a deficit is shown of $87,902,397. The monthly statement issued by the comptroller of the currency shows the amount of national bank notes outstanding at the end of the year to have been $235,576,381, an increase for December of $264,278, and for the 12 months of $21,948,560. The Omaha (Neb.) savings bank closed its doors with liabilities of $850,000; assets, $1,000,000. Sixteen men perished in the wrecking of the filibustering steamer Commodore, which was sunk about 20 miles off New Smyrna. A fire which started in Lebeck's dry goods store in Nashville, Tenn., destroyed ten buildings, the total loss being $400,000. The public debt statement issued on the 2d showed that the debt decreased $2,839,577 during the month of December. The cash balance in the treasury was $853,463,551. The total debt, less the cash balance in the treasury, amounts to $1,221,249,961. At the close of the six-day international bicycle race in Washington the score stood as follows: Waller, 874 miles 5 laps; Maddox, 874 miles 3 laps; Ashinger, 873 miles 7 laps; Lawson, 871 miles 10 laps; Hunter, 871 miles 10 laps; Forster, 870 miles 10 laps. The visible supply of grain in the United States on the 28th was: Wheat, 521,443,000 bushels; corn, 18,893,000 bushels; oats, 13,476,000 bushels; rye, 996,000 bushels; barley, 4,875,000 bushels. One thousand Chicago saloon keepers have been compelled during the last three months to retire from business because of hard times. Frank E. Clark, for 18 years editor of the Grayville (III.) Independent, committed suicide by taking poison. No cause is known. The Bank of Superior at Superior, Wis., closed its doors with liabilities of $100,000. By the explosion of a lamp Gregor Kirchbaum and his wife were burned to death in their home at Johnston, R.1. At Stamford, Conn., Mrs. Henry Ward Beecher fell and broke her hip and may be forced to use crutches for the rest of ber life. She is 84 years old. Will Robinson (colored), who killed his sweetheart in a church in Pike county, Mo., was taken to the penitentiary for 102 years. The large furniture house of Julius Lansburg in Washington was destroyed by fire, the loss being $160,000. The McCoy Banking company of Independence, Mo., went into voluntary liquidation with liabilities of $125.000. PERSONAL AND POLITICAL. Lansing W. Bancker, who enjoyed the distinction of being the oldest living clown except Dan Rice, died in Philadelphia, aged 75 years.

11. January 8, 1897 The New North-West Deer Lodge, MT
Article from The New North-West, January 8, 1897

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LONG LIST OF FINANCIAL ILLS. Omaha Savings Bank and Smaller Fry Failed to Open. Omaha, Neb., Jan. 2.-The Omaha Savings bank failed to open this morning and is in the hands of the state banking board. A meeting of the clearing house yesterday, it is presumed, took action which caused the savings bank to close. The total liabilities are $850,000. Assets exceed this amount by $200,000. The resources are excellent, and but little loss can result to depositors. The bank has been in existence for 15 years. The failure will not cause other Omaha institutions any inconvenience. "The Omaha Savings bank was organized 15 years ago," said General Manderson, its president. "The bank today owes $750,000 to its depositors and $140,000 to the Commercial bank, making a total liability of $890,000. Taking our real estate at cost and other securities at face value, we have nearly $200,000 of assets beyond liabilities. While the bank is unable to ait this time pay depositors on demand, it is amply solvent, and not a dollar will be lost by any creditor or depositor." The Run Soon Stopped. Cripple Creek, Colo., Jan. 2.-A run was precipitated on the First National bank today by a man to whom was refused a small loan, saying the bank would not open today. Small depositors formed in line and were paid. No big deposits were touched. A special train was run from Colorado Springs with $50,000 belonging to President J. M. Parker. Parker said: "We have on deposit more than enough to pay every dollar, should it be demanded; but only small depositors seem anxious, and business men, mining men and personal friends are depositing more than is drawn out." Paper Bag Plant Fails. Chicago, Jan. 2.-The Western Paper Bag Company, one of the Van Nortwick plants, was placed in the hands of a receiver today by Judge Grosscup, of the United States court. William G. Stevens was appointed receiver, bond being placed at $100,000. The liabilities will probably exceed $100,000, with assets the same. Judgments for $85.000. Cleveland, Jan. 2.-Thirty judgments, aggregating about $85,000, have been taken in the common pleas court against the Dorner & Dutton Company and the Dorner Foundry Company, which are among the largest car wheel manufacturers in the country. Application for a receiver has been filed. It is believed the assets greatly exceed the liabilities. Banker Goes Free. Denver, Jan. 2.-Under the instructions of Judge Butler, who said the evidence was insufficient to convict, the jury today found Frank Atkins, president of the defunct Colorado Savings bank, not guilty under the indictment which charged him with having received deposits knowing the bank to be insolvent. Fargo Bank Closed. Minneapolis, Jan. 2.-A special to the Journal from Fargo, N. D., says the Citizens' National bank failed this afternoon. The bank is in the hands of Bank Examiner Asheimer. The capital is $100,000. Michigan Failure. White Han, Mich., Jan. 2.-Bank Examiner Angell took possession and closed the White Hall State Savings bank today. No statement. The last report showed deposits of $80,000; loans and discounts, $92,000.

12. January 8, 1897 Cottonwood Report Cottonwood, ID
Article from Cottonwood Report, January 8, 1897

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Omaha Savings Bank and Smaller Fry Failed to Open. Omaha, Neb., Jan. 2.-The Omaha Savings bank failed to open this morning and is in the hands of the state banking board. A meeting of the clearing house yesterday, it is presumed, took action which caused the savings bank to close. The total liabilities are $850,000. Assets exceed this amount by $200,000. The resources are excellent, and but little loss can result to depositors. The bank has been in existence for 15 years. The failure will not cause other Omaha institutions any Inconvenience. "The Omaha Savings bank was organized 15 years ago," said General Manderson, its president. "The bank today owes $750,000 to its depositors and $140,000 to the Commercial bank, making a total liability of $890,000. Taking our real estate at cost and other securities at face value, we have nearly $200,000 of assets beyond liabilities. While the bank is unable to at this time pay depositors on demand, it is amply solvent, and not a dollar will be lost by any creditor or depositor." The Run Soon Stopped. Cripple Creek, Colo., Jan. 2.-A run was precipitated on the First National bank today by a man to whom was refused a small loan, saying the bank would net open today. Small depositors formed in line and were paid. No big deposits were touched. A special train was run from Colorado Springs with $50,000 belonging to President J. M. Parker. Parker said: "We have on deposit more than enough to pay every dollar, should it be demanded; but only small depositors seem anxious, and business men, mining men and personal friends are depositing more than is drawn out." Paper Bag Plant Fails. Chicago, Jan. 2.-The Western Paper Bag Company, one of the Van Nortwick plants, was placed in the hands of a receiver today by Judge Grosscup, of the United States court. William G. Stevens was appointed receiver, bond being placed at $100,000. The liabilities will probably exceed $100,000, with assets the same. S Judgments for $85.000. Cleveland, Jan. 2.-Thirty judgments, aggregating about $85,000, have been tak] en in the common pleas court against the Dorner & Dutton Company and the t Dorner Foundry Company, which are C among the largest car wheel manufacturC ers in the country. Application for a reS ceiver has been filed. It is believed the a assets greatly exceed the liabilities. Banker Goes Free. e Denver, Jan. 2.-Under the instructions e of Judge Butler, who said the evidence in was insufficient to convict, the jury today b found Frank Atkins, president of the defunct Colorado Savings bank, not guilty T under the indictment which charged him with having received deposits knowing L the bank to be insolvent. Fargo Bank Closed. Minneapolis, Jan. 2.-A special to the Journal from Fargo, N. D., says the Citire zens' National bank failed this after. th noon. The bank is in the hands of Bank Y g Examiner 00. Asheimer. The capital is $100,Michigan Failure. be White Han, Mich., Jan. 2.-Bank Examth ner Angell took possession and closed the be White Hall State Savings bank today. No A tatement. The last report showed de. of osits 00. of $80,000; loans and discounts, $92,so

13. January 8, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 8, 1897

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RECEIVERS NAMED. Pending the Resumption of Suspended National Banks. WASHINGTON Jan. 7.-The comptroller of the currency has appointed Bank Examiner Blading temporary receiver of the First National Bank, of Sioux City, and Examiner Anheirr receiver of the Citizens National of Fargo, N. D. Both of these appointments are temporary, pending resumption. Bank Examiner Turtilot has been appointed receiver of the Second National Bank, of Grand Forks, N. D. The comptroller has re eived information that the Commercial National Bank, of Roanoke, Va., which suspended some time ago, has raised sufficient funds with which to go into liquidation without the intervention of a receiver. Denver, Col., Jan. 7.-The American National Bank reopened today under new management, with $600,000 cash on hand to meet the liabilities and conduct business. There remains but $200,000 of liabilities to be provided for out of all the other assets of the bank. Eau Claire, Wis., Jan. 7.-The Commercial Bank of Eau Claire, capital $30,000, closed today. The failure is due to the suspension of the Allemannia bank, of St. Paul. President Allen states that the Eau Claire institution will wind up affairs, and that depositors will be paid in full.

14. January 8, 1897 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, January 8, 1897

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Receivers for National Banks. WASHINGTON, Jan. 7.-The comptroller of the currency has appointed Bank Examiner Blancing temporary receiver of the First National bank of Sioux City and Examiner Anheir receiver of the Citizens' National bank of Fargo, N. D. Bank Examiner Turilot has been appointed receiver of the Second National bank of Grand Forks, N. D.

15. January 20, 1897 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, January 20, 1897

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Several Institutions Weakened by Steady Withdrawals of Deposits. Four more banks have been added to the list of those at St. Paul, Minn., whose doors have been closed since December 21. They are the Germania, the Allemania, the Minnesota State Savings and the West Side. Of this quartette the most important member is the Germania. This institution, which is a State and not a National bank, was founded in 1884. Its capital was $400,00C, with a surplus of $59,000. On December 17 the loans and discounts amounted to $975,000 and the deposits to $1,091,968. The Allemania Bank, with a capital of $400,000, having a clientage similar to that of the Germania, closed its doors also soon after the other bank had announced its assignment. The Allemania Bank was organized last year, being the successor of the Commercial Bank. The West Side Bank of St. Paul cleared through the Allemania Bank, and the latter failure compelled it to close. It is a small concern. There was a heavy run on the Minnesota Savings Bank, which is intimately connected with the Germania Bank. As a result of the run the Minnesota Savings Bank has taken advantage of the sixty-day notice. The Germania, the Allemania and the West Side banks all did business as State banks. Every one of them was literally pulled down by the depositors The Citizens' National Bank of Fargo. North Dakota, is in the hands of the National Bank Examiner. Its capital is 100,000. The City Bank of Nora Springs, Iowa, has suspended.

16. February 11, 1897 Jamestown Weekly Alert Jamestown, ND
Article from Jamestown Weekly Alert, February 11, 1897

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$258,883 02 In the various suspended banks of the state the treasurer has $65,772.91, as followe: Citizens National bank, Fargo, 847,801 93 30 Grand Forke National bank 9,712 Second National bank, Grand 3,124 95 Forks 2,866 64 First National bank, Minot First National bank, Minot, draft deposited, payment stopped and now in litiga2,267 09 tion Treasurer Nichols says: Each of the above depositories have given bonds to the state of North Dakota for double the amount of deposit, which, in every case is ample security for the amount asked for. I have carefully investigated the bonds of the suspended banks, and am satiefied that the state is well secured and will receive every dollar that is due. SENATE. Among the new bills introduced in the senate yesterday was by Greene: Prescribing duties and obligation of herders. Marshall, providing that pledgee can sell collateral in default. Enger, giving three representatives to sixteenth district, consisting of Steele and Grigge counties. Dunlop, repealing the office of oil inspector. Strom, requiring one-third the available school funds to be invested in farm mortgages. Dunlap, 120 oil test. Haggart, $2,000 for advertising school land leases. House bille passed: Amending the good time law of convicte; allowing witnesses awaiting trials 50 cents 8 day; Twitchel's bail on appeal; Francis' challenges of jurore rec. ommended by judiciary. Little's, counties to pay for transporting conviots and ineane, WAS lost. The one hundrad thousand dollar irrigation memorial was lost. Senate refused to concur in Creel's armory bill. HOUSE. The resolution to investigate the gambling and liquor selling at Bismarck created a good hot debate in the house yesterday. There was bitter opposition to the report, Cole and Hankinson leading. It was alleged by several that there are open violations of the law in Case Richland Weleh and Footer conn.

17. June 8, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, June 8, 1897

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Stockholders Assessed. WASHINGTON, June 7.-Comptroller Eckels has ordered an assessment on the stockholders of the Citizens' National Bank of Fargo. N. D., of 100 per cent. This will enable Receiver Anbeier to pay all approved claims and also other expenses incidental to winding up the affairs of the bank.

18. October 30, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, October 30, 1897

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Cash for Bank Creditors. Special to the Globe. FARGO, N. D., Oct. 29.-Checks were received this morning from the comptroller of the currency for payment of the 20 per cent dividend recently declared in favor of creditors of the Citizens' National bank. Receiver Anheiner will distribute the funds at once.

19. November 1, 1897 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, November 1, 1897

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Cash for Bank Creditors. FARGO, N. D., Nov. 1.-Checks were received during the morning from the comptroller of the currency for payment of the 20 per cent dividend recently declared in favor of creditors of the Citizens National bank. Receiver Anheiner will distribute the funds at once.

20. November 4, 1897 Courier Democrat Langdon, ND
Article from Courier Democrat, November 4, 1897

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Complaint Against Eckels. Fargo, N. D., Special.-In Saturday's Forum Vice President Clendening, of the Moorhead National bank, severely scores Controller Eckels on his action in the proposed reorganization of the Citizens' National bank. He publishes all the correspondence in the matter, and seems to have slightly the best of Eckels. Mr. Clendening shows letters written the controller and signed by such prominent business men as Alex Stern, I. P. Clapp, Edwin Morris and others, offering to pay off all the de- positors of the institution 100 cents on the dollar if the assets of the bank are turned over to them. The controller turned them down in every case and implicitly followed the advice of his receiver, whom Clendening thinks was against the proposition from its in- ception.

21. January 30, 1904 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, January 30, 1904

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Bondsmen of Bank Are Protected. In a suit by the state against the bondsmen of the Citizens' National bank of Fargo to recover for state funds deposited there, the defendants set up the statute of limitations, as the bank failed six years ago. The state claimed that the statute did not apply as the last payment was made just prior to the discharge of the receiver about a year ago. It was claimed suit could not be brought prior to that time. as it could not be known how much was still due. The receivership paid about 50 cents on the dollar. Judge Pollock held that the statute ap. plied and dismissed the action. An appeal will be taken.