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More Bank Failures, JAMESTOWN, N. D., July 10.-Lloyd's National Bank suspended to-day. Deposits about $220,000. The assets are double the amount of the liabilities.
10973. Lloyds National Bank (Jamestown, ND)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 4561
- Charter Number
- 4561
- Start Date
- July 10, 1893
- Location
- Jamestown, North Dakota (46.911, -98.708)
Metadata
- Model
- gpt-5-mini
- Short Digest
104b1c652bc2b0ea
Response Measures
None
Receivership Details
- Depositor recovery rate
- 55.5%
- Date receivership started
- 1893-09-14
- Date receivership terminated
- 1896-01-22
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 38.1%
- Share of assets assessed as doubtful
- 46.1%
- Share of assets assessed as worthless
- 15.8%
Description
Articles report Lloyds National Bank (Jamestown, ND) suspended July 10, 1893 due to the financial stringency and inability to realize on securities (no explicit run described). Comptroller laid out conditions for resumption (July 22) but a receiver was appointed in September 1893 and the bank remained in receivership and wound up. Thus this is a suspension followed by permanent closure/receivership. OCR variants (e.g., Floyd's in one article) appear but other articles consistently give Lloyds National Bank.
Events (5)
1.
May 4, 1891
Chartered
- Source
- historical_nic
2.
July 10, 1893
Suspension
- Cause
- Macro News
- Cause Details
- Suspension attributed to the financial stringency and inability to realize promptly on its securities (money market/stringency rather than depositor panic).
- Newspaper Excerpt
- Lloyd's National Bank suspended to-day. Deposits about $220,000. The assets are double the amount of the liabilities.
- Source
- newspapers
3.
July 22, 1893
Other
- Newspaper Excerpt
- Lloyds' National bank at Jamestown, N. D., will be allowed to resume business under conditions laid down by Comptroller Eckels ... enough money must be paid in to carry the bank ninety days ... not be borrowed by the bank, but paid in by the shareholders - new capital, in other words.
- Source
- newspapers
4.
September 14, 1893
Receivership
- Source
- historical_nic
5.
September 14, 1893
Receivership
- Newspaper Excerpt
- The comptroller of the currency ... has appointed Mr. John D. Benton of Fargo, to be receiver of Lloyds' National bank, temporarily.
- Source
- newspapers
Newspaper Articles (23)
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A North Dakota Bank Closed. Jamestown, N. D., July 10.-Floyd's National Bank suspended to-day. The deposits are about $220,000. The assets are double the amount of the liabilities.
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Failure of n Jamestown, N. D., Bank. JAMESTOWN. July 0.--This morning Lloyd's National Bank announced that. owing to the financial stringency and inability to realize on its securities. the bank would suspend business. The capital stock is $100,000. The deposits are said to be about $220,000. with assets double the liabilities nt greatly depreciated values. It is believed that the bank will pay depositors in full. Citizens took measures to protect the other bank here to-day by calling is meeting of depositors.
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FINANCIAL CRASHES. Temporary Suspension of a Jamestown (N. D.) Bank. Special to the Globe. JAMESTOWN, N. D., July 10.-Lloyd's National bank temporarily suspended, The assets are largely in excess of the liabilities, and there IS no fear but the bank will pay dollar for dollar. Messrs. Lloyd expect to resume as soon as the bank examiner makes his report. DENVER, Col., July 0.-The Chamberlain Investment company made an assignment this afternoon to Lewis C. Ellsworth. This action was precipitated by the action of the Denver Savings bank. which attached the property last night for an indebtedness of $3,669.10. Liabilities, $1,112,188.30; assets, $2,940,691.45. The company is heavily involved in real estate in Texas and Puget Sound cities, which swamped it. Following the assignment of ChamberJain Investment company, came the appointment of a receiver for the Liabler Stove company. This action was taken on motion of A. W. and B. Chamberlain. Plaintiffs represented that they had indorsed notes for the defendant company to the amount of $250,000, and that the company was indebted to various parties to the amount of $300,000. PHILADELPHIA, July 10. -The failure of A. Y. Davidson. stock broker, trading as A. Y. Davidson & Co., was announced on the stock exchange this afternoon. Mr. Davidson was unable to make any statement as to the assets or liabilities. The failure is said to be due to the decline in St. Paul. CINCINNATI, July 10.-The Madisonville Planing Mill company, of Madisonville, O., made an assignment this morning. Assets and liabilities about $20,000. Stringency of the money market's the alleged cause of the failure. CLEVELAND, O., July 10.-Henry A. Dörner, president of the Kennard Hotel company, made an assignment this morning. The hotel has only been open under the present company for about six weeks. Inability of subscribers of stock to get money is given as the cause. Assets, $25,000; liabilities about the same. FALLS CITY, Neb. July 10.-The state bank at Schubert, a small town south of here, hasfailed. The bank exannuer investigated the books, and Saturday night G. V. Argaboright, the cashier, left the country, leaving a statement that he was$$1,000 short, and that he preferred to leave his family to going to the penitentiary. Argaboright is also treasurer of the American Bond company.
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The Examiner in Charge. Special to the Globe. JAMESTOWN, N. D., July 11.-G. G. Thorne, national bank examiner for Minnesota and Wisconsin districts, arrived today, and at once proceeded to inquire into the condition of Lloyd's national bank, which suspended payments yesterday. Considerable uneasiness was evinced yesterday lest depositors would not be paid, but today, as the smatter is considered, confidence is expressed in the integrity and ability of the Messrs. Lloyds to pay all. Besides the bank the Lloyds own or control the Jamestown electric light plant, the Gladstone hotel and the opera housethe finest in the state-besides being largely interested in real estate.
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e Faillites de Banques et autres depuis quelques jours -Edw. J. Binford de Denver,Col., a fait faillite. Passif 218,000 dollars. L. Banque of Lesueur, de Le sueur, Minn., a ferme 8°B portes. Passif 225,000 dollars. La Albuquerque National Bank d'Albuquerque, N. M, a suspendu ses paiements. L'American National Bank de Puibla, Col., a déposé son bilan. Fermée est la Puget Sound Na tional Bank de Everett, Wash. La National Bank of Ashland, Neb., a fait faillite, ainsi que la First National Bank de Winston, N. C. M. Ward banquier de Forestville N, Y. g'est suicidé et il parait que le déposants ne verront ja mais grand chose de leurs 100,000 dollars. La Northern National BaLk de Big Rapids, Mich, a fermé ses portes. La Lloyd's National Bank de Jamestown N. D. a suspendu ses paiements. La "Normania Society" de Min neapolis a fait faillite. Passif 75,000 dollars. John L. Davie, banquier d'Auburn, Ill la Thorton Banking House de Shelleyville, Ill., et la Holt county of O'Neil, Nebraska ont fait faillite. Insolvables sont: L'Arkansas State Bank de Stuttgard. La Farmers et Traders Bank de De Wett, Ark. La Chamberlin Investement Co. de Denver, Col. A. Y. Davidson et Co. banquiers de Philadelphie, Pa. La State Bank de Shurbert Neb. La North Galveston Loan et Investement Association de Galveston Texas. La Kangas City Safe Deposit et Trust Co. de Kansas City, Mo., au capital de 300,000 dollare. Passif 1,700,000 doliars.
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SUSPENDED. Jamestown, N. D., July fl.-This inorning Lloyd's National bank announced that owing to the financial stringency and inability to realize on its securities promptly the bank would have to suspend business. The capital stock is $100,000. The deposits are said to be about $220,000, with assets double the liabilities at greatly depreciated values.
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THE LLOYDS' BANK. Conditions Under Which It Will Be Allowed to Resume. Special to the Globe. WASHINGTON, July 22.-Lloyds' National bank. at Jamestown, N. D., will be allowed to resume business under conditions laid down by Comptroller Eckels today as follows: First, all moneys owed the bank by directors or officers must be paid or secured at once; second, enough money must be paid in to carry the bank ninety days and enable it to meet all demands from depositors who do not agree to continue their deposits for a time. This money must not be borrowed by the bank, but paid in by the sharehiolders-new capital, in other words. The probabilities are that the bank will resume with a change of management or not at all. In the latter case a receiver will shortly be named.
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BANK NOTES. Depositors ask for a Longer Time for Resumption of Business. Prospective Re-opening. General Good Conditon of State Banks. A Bit of Bank History in Connection With the Carrington Bank. Mr. Harry Lloyd of the state bank at LaMoure, furnishes the cheerful news that at a meeting of the principal stockholders of that bank Saturday, it was decided to protect the bank if it would reopen, and arrangements have SO far been made as to practically warrant the statement that the bank will be open again for business in about ten days. This action will be very gratifying to all in LaMoure county, and the home officers, who closed the doors simply to prevent a run and further complications, The people who have always done businees at the LaMoure bank have great faith and confidence in the management, and are willing and anxious to help in getting the institution again on its feet. It is understood that the general business of the bank has been conservative, and successfully conducted, and that there are parties-willing to go ahead as if nothing had occurred, and deposit their funds as heretofore. Concerning the Lloyde bank at Jamestown, the following dispatch, sent out from Washington to the northwestern papers is of interest: The Lloyds National bank at Jamestown, N.D., will be allowed to resume business under conditions laid down by Comptroller Eckele, as follows: First, all moneys owed the bank by directors or officers must be paid or secured at once; second, enough money must be paid in to carry the bank ninety days and enable it to meet all demands from depositors who do not agree to continue their deposits for a time. This money must not be borrowed by the bank, but paid in by the shareholders-new capital, in other words. The probabilities are that the bank will resume with a change of management or not at all. In the latter case a receiver will shortly be named. In reference to the above dispatch it is learned that it is not autbentic and is probably a garbled report of several messages, adjusted to suit the occasion. Mr. Thorne, the bank examiner, says that Comptroller Eckele has been in telegraphic communication with the bank on the subject of resuming business, but that the above dispatch is not authentic, and that nothing concerning the bank's affairs has yet been authoratively published by the comptroller.
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ALL OVER THE WORLD. Current Hap, ags of General Interest to the Re ding Public. SERIOUS AND SENSATIONAL SORTINGS. A Comprehensive Epitome of the Lastest News Culled from the Leading Dailies of the Country for the Past Week. At Terre Haute, It.d., the letter carriers removed by Postmaster Donham appealed through one of their number to the National Civil Service Commission, and received the following: "In reply to your telegram of July 5, stating that you had been removed from the postal service without cause, you are informed that the commission can take no action in the matter unless it is alleged with other proof, that the removal was for political reasons." At Salt Lake, Utah, it has been discovered by a prominent mining man that insurance companies have decided ithdraw from the mining camps West. Representatives of all ance companies in Utah were and admitted that nearly all banies are refusing to renew polimining property and in mining The decline in the value of properties on account of the silver ic is given as the cause. A Mr. Thompson, who lives at West Hurly, near Kingston, N. Y., recently got mad at his young wife, and proposed to sell her for forty-five cents to a friend of his named Lewis, Lewis took him up, paid him, and they took a drink of cider. Thompson informed his wife, and she assented and went home with Lewis, and now Thompson wants her back again and she refuses to live with him any more. Leon S. Smith, of Grand Rapids, was arrested recently at Port Huron, Mich., for passing nearly $4,000 worth of forged papers, the victims being the banks of Flint and Grand Rapids. When searched he had $8,100 in money on his person, and paper enough to make $500,000. His capture is due to the fact that he tarried too long here bidding his sweetheart good-by before starting for Europe. Jerry Sheenan, twelve years old, ragged and barefooted, with a thick mass of red hair covering his little round head, and his eyes looking in opposite directions, was found in a move-wagon recently in New York. He stared vacantly at the policeman who roused him and swore vigorously. He was turned cereif to the So lat idren ae Prevention of Cruelty to Justice Feltner. Fifty-four acres in Concert Valley, Golden Gate Park, San Francisco, have been formally dedicated to the Midwinter Fair by the Park Commissioners and negotiations for a site are thus definitely concluded. The British battleship Inflexible, twelve guns, has been ordered to proceed immediately to Alexandria, Egypt. It is rumored the hurried dispatch of the Inflexible is owing to disturbances in Alexrndria. At Taunton, Mass., It is reported by a near friend of the Bordens that prominent women in New York and Boston are raising funds to prosecute extensive enquiries into the Borden murder mystery. Lloyds National bank of Jamestown, N. D., has suspended. The capital stock is $100,000. The deposits are said to be about $220,000, with assets double the liabilities at greatly depreciated values. John Foley, of Philadelphia, while working at Fifty-fourth street and Girard avenue, fell down a man-hole and had his skull fractured. He was removed to the Presbyterian hospital and died there. The bank of Round Valley, Kan., was robed by three men who rode into the town and entering the bank, tied and gagged Cashier Wilson. and secured the money in sight, $600. They escaped. The corn crop in the valley of Mexico and through all the Southern states of the republic is the most abundant for years, and the price of grain has already taken a big decline. The running expenses of the Exposition ane non
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THROUGHOUT THE STATE. INTERESTING NEWS FROM ALL PARTS OF THE STATE. A Condensed Record of the Important Hapenings of the Week in North Dakota, Aranged for Rapid Reading. Thursday, July 27. An effort is being made to arrange for opening the suspended Lloyd's bank at Jamestown again. Gov. Shortridge and family and State Auditor Porter and family will camp out at Spiritwood lake for the next few weeks. William Patterson was instantly killed while riding on the trucks of a stock train at Dickinson. His mother and sister live at Ottawa, Out. A large force of convicts at the state prison are making brick for the addition to the state capital. Auditor i'orter estimates that the cash outlay for bricks thus made will not exceed $2.50 per 1,0000.
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A RECEIVER IS APPOINTED John D. Benton of Fargo to Take Charge of Lloyds National Bank. Ninth Anniversary of Organization of Hook and Ladder Company. Farmers in Several Localities Having to Dodge the Debt Collector. The United States bank examiner, Mr. Gilbert G. Thorne, has received a telegram from the comptroller of the currency saying that he has appointed Mr. John D. Benton of Fargo, to be receiver of Lloyds' National bank, temporarily. This appointment will facilitate the adjustment of many things not within the power of an examiner, but Mr. Thorne has received instructions to remain here until further notice in order to assist in adjusting the affairs of the suspended bank. Mr. Benton will arrive in the city tomorrow morning. It is understood that at the request of the examiner, Mr. Wm. Lloyd today confessed judgment for the amount of his indebtedness to the bank, $26,344.42.
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Monday, Sept. 1. Charles Lock is wanted by Edward Kennedy of Eureka for selling mortgaged property. Theib Keiser, a farmer near Valley City, was arrested for assault and battery with intent to rape Mrs. John Keim, and fined $40. Another mineral water spring has been discovered near Edgely. North Dakota is certain to be a healthy resort. Barney Lovejoy, a child seven years of age, who lives in Grafton, broke his collar bone while playing with some other children. Wild ducks and geese are congregating on the Little Missoudi river one month earlier than in former years. It is looked upon by some as an indication of a hard winter. The committee of depositors appointed to examine into the condition of Lloyd's National bank, Jamestown, recommends that the bank resume business. Martin Hovde, son of Lars Hovde of Hillsboro, who was killed in a threshing machine accident some days ago, has become insane from grief and been taken to the asqlum. Six Mayville hobos went over to Portland the other night and robbed four Portland hobos who were reposing in a box car, securing a silver watch and $7.37 in cash. The miners at the Plenty mine in Mercer county have been discharged and the mines closed down for the season. The sinking of the first barge, S which was loaded. was too great a drawback to be overcome this year. By the decision of the United States circuit court at St. Paul, the receiver of e the Northern Pacific Elevator company will be required to distribute to farmers the wheat they have delivered to the company, upon return of the company's receipt.
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TELEGRAPHIC BREVITIES. I M. L. Buchonnel, Swiss minister of justice and police, is dead, after a long illness. President Cleveland has consented to aet as arbitrator in the boundary dispute between Brazil rnd Argentine. Deputy Comptroller Tucker has appointed J. D. Benton receiver of the Lloyd's National bank of Jamestown, N. D. Renert Malon, the well known French socialist author, is dead, aged 52 years. His death was caused by laryngical phythis. Ex-Judge Richard Ludlow Larrimore, a well known member of the New York bar and for more than 29 years a judge of the court of common pleas, is dead.
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Monday, Sept. 4. Charles Lock is wanted by Edward Kennedy of Eureka for selling mortgaged property. Theib Keiser, a farmer near Valley City, was arrested for assault and battery with intent to rape Mrs. John Keim, and fined $40. Another mineral water spring has been discovered near Edgely. North Dakota is certain to be a healthy resort. Barney Lovejoy, a child seven years of age, who lives in Grafton, broke his collar bone while playing with some other children. Wild ducks and geese are congregating on the Little Missoudi river one month earlier than in former years. It is looked upon by some as an indication of a hard winter. The committee of depositors appointed to examine into the condition of Lloyd's National bank, Jamestown, recommends that the bank resume busiuess. Martin Hovde, son of Lars Hovde of Hillsboro, who was killed in a threshing machine accident some days ago, has become insane from grief and been taken to the asqlum. Six Mayville hobos went over to Portland the other night and robbed four Portland hobos who were reposing in a box car, securing a silver watch and $7.37 in cash. The miners at the Plenty mine in Mercer county have been discharged and the mines closed down for the season. The sinking of the first barge, which was loaded, was too great a drawback to be overcome this year. By the decision of the United States circuit court at St. Paul, the receiver of the Northern Pacific Elevator company will be required to distribute to farmers the wheat they have delivered to the company, upon return of the company's receipt.
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THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. THE secretary of the treasury has asked for the resignations of Philip M. Hildebrand, surveyor of customs at Indianapolis, Ind., and Michael E. Smith, assayer of the mint at Denver, Col. THE "national congress of business men" met at Washington on the 12th with a slim attendance. ATTORNEY-GENERAL OLNEY has issued B statement defining the attitude of the administration with regard to the enforcement of the Geary act. EXTENSIVE changes among pension agencies will soon be made by Secretary Smith. Consideration has been given to this matter for some weeks and a number of agents have been decided upon for early appointment. FIRE recently destroyed the office of the Western Union Telegraph Co. at Washington, burning out over 400 wires. A DISPATCH from the mayor of Caldwell, Kan., to Hoke Smith informed the secretary that he had been burned in effigy by boomers who were indignant over the registration scheme. I HENRY N. COLLIER, of Georgia, ap03 pointed special agent of the general S land office, has been detailed to examine surveys in the Cherokee strip. i MRS. CLEVELAND'S baby will be named Esther. TO THE acting secretary of war has reno dered a decision holding that a dishont orable discharge from the service is an r entire expulsion from the army and covers all unexpired enlistments. 1 THE comptroller of the currency has appointed Mr. John Benton receiver of t the Lloyds' national bank at Jamesr town, N. D. A DISPATCH was received at the navy t department stating that the Charlesr ton's steering gear had broken down, S and that it would be necessary to coal a before leaving for Brazilian waters. THE state department was notified c. that Portugal had declared a quaranR tine against the United States on acM count of cholera. Secretary Gresham protested against such an unjust acIl tion, as there has not been a case of tl cholera in this country since August 14. P THE president has sent the nomination of Dr. S. Hazeltin, of Michigan, to it be consul of the United Statesat Milan, it Italy, vice W. J. Maynard. A REPORT to the war department says 0 the Mexican customs officials have rein turned to their owners the sheep seized on disputed territory. The United W States troops will now be withdrawn. ke WHILE it is within the possibilities, B it is not at all probable that President re Cleveland, his wife, daughter Ruth and fr baby Esther will visit the world's fair this fall. m CONGRESSMAN GEARY, Senator White by and the other Pacific coast members have decided to fight the Everett bill, ec amending the Geary law, and they say Ch that even if it passes the house they ta will be able to defeat it in the senate.
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AN INJUNCTION SERVED. Legal Proceedings to Prevent the Transfer of Certain City Property. The Flickertail State Hasa Day at the World's Exposition. The Program. A Cinch Club Organized with Thirty Members.-County Finances. An injunction was served Friday in the matter of an assignment of sheriff's certificate of sale by Lloyd's National bank to Kate E. Glaspell, involving certain city lots in Jamestown and other property. The injunction is issued from the office of Clerk Montgomery of the United States court, in an action entitled Jno. D. Benton, receiver, vs. S.L. Glaspell and Kate E. Glaspell, defendants, and was served by Depaty U. S. Marshal Hurst of Devils Lake. It is to restrain and prevent the transfer of any of said property pending a hearing of issues pertaining to it. Another matter of interest in connection with the bank affairs is the filing of the bond in the amount of $50,000 of F. B. Fancher, to whom W. M. Lloyd recently made a general assignment of property for the benefit of the bank's creditore; also the publication of the inventory of Mr. Lloyd's assets and liabilities. This inventory is given as follows:
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DECREPIT BEASTS AS SECURITY. On These Lloyd of the Bank Lent Money to Lloyd of the Live Stock Company. JAMESTOWN, N. D., Nov. 17.-Now that a permanent receiver has been appointed for the Lloyds National Bank the management of affairs of that institution is being shown. In a list of assets furnished to the Comptroller of the Currency were found 116 notes with chattel security taken by the Northwestern Live Stock Company. of which William M. Lloyd, President of the bank. was President. These 116 notes. popularly known here as "bronco notes." aggregated in amount $21,875.64. These represent the sales of Western horses which. it is said. can be bought for from $15 to $25 each. On Saturday one light bay or sorrel horse about eleven years old will be sold at auction to satisfy a debt which now amounts to $624.16. original17 $500. with 12 per cent. interest. At the same time there will be sold one black mare about nine years old, and one roan hornless cow about eight years old, to recover the sum of $881.63. with 12 per cent. interest from Nov. 1. 1892. the total debt being now $990.41. These are sample cases. In addition to the above. the Northwestern Live Stock Company borrowed $1,000 from the bank. and for this amount no security was given. David Russell. who has been identified with the management of the Northwestern Live Stock Company. has borrowed $10,000 from the bank, and no security except promissory notes exists. The assets of the bank foot up to $41,875.64. all in securities like the above.
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Lloyds' Bank Report. 81 JAMESTOWN, N.D., Jan. 13.-Hon. C.C. Johnson. receiver for Lloyds' National bank, has forwarded his report, upon receipt of which at Washington a dividend to the creditors will be paid. The first dividend will be about 10 per cent.
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STOCKHOLDERS CAUGHT. They Must Pony Up for Lloyd's National. JAMESTOWN, N.D., Feb. 24.-Comptroller Eckels has ordered an assessment of the shareholders of Lloyd's National bank in the amount of $100,000. Those holding stock at the time of the failure of the bank are assessed $100 each for each share of the stock of the institution. The assessment it to be ratably, and due on or before the 19th of March. The receiver is appointed to take all the necessary steps to enforce the collection to the extent of the individual liability of the shareholders.
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Special Bank Examination. Among the Gladstone arrivals 18 W. C. Stainsby, of Newark, N. J., one of the two special bank examiners of the United States, whose duties are to examine and report the condition of national banks in the hands of receivers. "Before the cyclone of last year," says Mr. Stainsby, "there was but one special examiner on this work. Two of us now have about all we can attend to. The work is chiefly a verification of the receivers reports to the comptroller, and the preperation of a more condensed statement of the condition of such banks for the information and ready reference of the comptroller. In Washington they call us the "undertakers."" The examiner will remain several days on the work of the Lloyds bank and will be assisted by Receiver Johnson whereever possible. It is learned that Kansas has more defunct national banks than any other western state, there being 18 or 20 now in the hands of receivers in that state. There are but three in North Dakota, the two Mears' institutions at Fargo and Lakota, and the Lloyds at this place. The Mears bank at Fargo has been examined, and after the work IS completed here, the same kind of an investigation will be given the Lakota bank.
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Lloyds Bank Matters. In the transaction in which the intereet of the Lloyds bank in the lots on Fifth avenue was bought by S. R Kitchell Saturday, the purchaser paid the bank $100 in addition to $910 at 12 per cent interest for one year, the total amounting to $1,119.20 for which the receiver assigned the certificate of purchase held by the bank. This was done on consultation with creditors, and on account of the uncertainty of partition, held to be a good trade. As mentioned in The Alert yesterday Mr. Kitchell is desirous of getting full title to other property in which the bank creditors are interested. Another item of interest to depositors was learned to day. D. McK. Lloyd of Pitteburg, has evidently decided to fight the suit brought against him by the Lloyds bank, and has filed an answer in which he says he sold his interest in the bank and surrendered the notes on which suit has been brought, prior to the bringing of the snit. This means no doubt, an extended litigation. The bank's attorneys were hopeful that their care was of such strength as to secure a settlement without further recourse to the courts. The comptroller of the currency bas of late been declaring 5 per cent dividends in a number of banks, and it may be that such action will shortly be taken with this bank. There are at present about $13.000 to the credit of the bank in Washington. The dividend mav not. on the other hand be declared until further disposition is made of real estate on which the bank has a claim.
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MADE A SETTLEMENT. The Case Against D. McK. Lloyd Withdrawn by Order Comptroller. Statement of Reasons for the Same-23,000 Dollars Accepted. Receiver Johnson returned Wednesday morning from Pittsburg, Pa., where he went in company with Col. J. D. Benton of Fargo, as attorney, to reach a settlement, or final conclusion in regard to the claim of the Lloyd's bank against David McK Lloyd. The claim of the bank has been, as all the creditors know, in the hands of Pittsburg attorneys for bringing a suit against Mr. Lloyd, who offered $20,000 in settlement to prevent tiling of the suit. This, it is said, was done on the advice of his attorneys and against the advice of friends and relalives who desired him to take other action. But in order to save his credit and to prevent making an assignment the above proposition was made some weeks ago to the attorneys of this bank. In going over the whole ground, Receiver Johnson for the second time and Col. Centon as a matter of precaution, both came to the same conclusion that a compromise with Mr. Lloyd was the only thing to do to save the creditore anything. except an expensive, uncertain lawsuit. With the authority of the comptroller, a settlement was therefore made last Saturday, and the amount of $23,000 accepted from Mr. Lloyd in lien of taking further legal proceedinge in the case. The Alert is informed that Col. Benton himself made a personal examination of the assets of Mr. Lloyd, as found by the receiver as the result of his former examination; that while it is generally believed that Mr. Lloyd is, and has been, a wealtby man, it developed that since the failure of the Jamestown bank he has lost in money or what he is obligated to pay about $167,000;tha this largest present property interests, constitute a one-seventh interest in certain property, subject to large dower rights; that if he paid his debts he would be insolvent today and if a bill against him were filed, it would result in an assignment of his property and a judgment would be of doubtful value thereafter. Col. Benton, who was at first inclined to pursue the litigation, at the end of his examination, was satisfied that the above action was the best to take for all the creditors of this bank. It was shown by Mr. Lloyd that he has already paid or obligated himself to pay $93,000 on account of this bank failure alone; that with other losses in mining enterprise, he has been crippled to the amount above stated. These are the facts in the case as The Alert is informed. Receiver Johnson had closed this matter Saturday, before the arrival of Aug. Haight, who was expected Monday following, to look up certain statements for creditors of the bank.