11065. Bank of Minot (Minot, ND)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 2, 1892
Location
Minot, North Dakota (48.233, -101.296)

Metadata

Model
gpt-5-mini
Short Digest
46e8d92516cfba5f

Response Measures

None

Description

Contemporary reports (Jan 1892) describe a run on the Bank of Minot triggered when the county treasurer withdrew his deposits over a tax dispute; the bank reopened next day. Later items (1893 and 1895 references) indicate the bank went into the hands of a receiver (closure). Thus sequence: run, later suspension/receivership/closure. OCR dating in mortgage notice is messy (mentions multiple years); receiver references dated in 1893–1895.

Events (4)
1. January 2, 1892 Run
Cause
Bank Specific Adverse Info
Cause Details
County treasurer withdrew county deposits after dispute with president A. E. Mears over payment of taxes, prompting panic withdrawals by other depositors.
Measures
Bank obtained more currency and opened the next day, paying those who demanded funds.
Newspaper Excerpt
The treasurer withdrew his deposits. This alarmed the other depositors, and they commenced withdrawing, causing the bank to run out of funds about an hour before the usual time for closing. They opened up next day, having received more currency, and the bank is running as usual.
Source
newspapers
2. January 27, 1893 Other
Newspaper Excerpt
The Minot Journal has it on good authority that before long the bank of Minot will go into the hands of a receiver and that Hon. C. E. Gregory will be the receiver.
Source
newspapers
3. June 18, 1895 Other
Newspaper Excerpt
Mortgage ... assigned by A. B. Guptill as receiver of said Bank of Minot, Mortgagee ... will be foreclosed by a sale ... (mortgage sale notice references receiver).
Source
newspapers
4. December 6, 1895 Other
Newspaper Excerpt
Chief Justice Wallin ... announced its decision, sustaining Judge McConnell in sentencing Mears to jail for contempt of court in refusing to sign deeds as president of the Bank of Minot, and deliver them to the receiver.
Source
newspapers

Newspaper Articles (5)
1. January 3, 1892 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 3, 1892

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Article Text

BANK RUNNING AGAIN. The Trouble at Minot Is Only Temporary. DEVILS LAKE, N. D., Jan. 2.-Reports of trouble with the Bank of Minot are conflicting. A. E. Mears, president of the bank, is also president of the Merchants' National bank of this city, the National Bank of North Dakota at Fargo, and a number of other banks in this state, and the trouble at Minot will probably affect them all more or less. The officers of the bank here state that the trouble at Minot was caused by Mears refusing to pay his taxes, considering them exorbitant. This incensed the county officials, and the treasurer withdrew his deposits. This alarmed the other depositors, and they commenced withdrawing, causing the bank to run out of funds about an hour before the usual time for closing. They opened up next day, having received more currency, and the bank is running as usual. When the report reached this city depositors in the Merchants' National bank became somewhat alarmed, and about $9,000 was withdrawn. The cashier, however, assured them that there was no cause for alarm. He received any deposits offered, and stated that he had funds to pay all in full, excepting the county, and could pay it in two days should it demand it. The county has about $20,000 in bank at present. A good deal of it will be paid out to the state, city anu townships in a few days. Mears' cashier. Peterson, Mears' son and other officers of the bank are on the county treasurer's bond for $30,000. County Auditor Hale and County Treasurer Lee on hearing reports of trouble made a critical examination of the books, papers, etc., of this bank and concluded that it was sound. The bank has about $80,000 worth of paper and claims not to owe a cent. Certain it Is that its doors were open all day yesterday and every persón demanding his money was paid promptly. It is reported that the cashier of the Minot bank notified his father-in-law some time ago to withdraw his deposit. This. however, the officers here say is not the case, and that the bank just happened to get caught as any other bank in the country is liable to should all depositors suddenly withdraw.

2. January 3, 1892 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 3, 1892

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Article Text

BANK RUNNING AGAIN. The Trouble at Minot Is Only Temporary. DEVILS LAKE, N. D., Jan. 2.-Reports of trouble with the Bank of Minot are conflicting. A. E. Mears, president of the bank, is also president of the Merchants' National bank of this city, the National Bank of North Dakota at Fargo, and a number of other banks in this state, and the trouble at Minot will probably affect them all more or less. The officers of the bank here state that the trouble at Minot was caused by Mears refusing to pay his taxes, considering them exorbitant. This incensed the county officials, and the treasurer withdrew his deposits. This alarmed the other depositors, and they commenced withdrawing, causing the bank to run out of funds about an hour before the usual time for closing. They opened up next day, having received more currency, and the bank is running as usual. When the report reached this city depositors in the Merchants' National bank became somewhat alarmed, and about $9,000 was withdrawn. The cashier, however, assured them that there was no cause for alarm. He received any deposits offered, and stated that he had funds to pay all in full, excepting the county, and could pay it in two days should it demand it. The county has about $20,000 in bank at present. A good deal of it will be paid out to the state, city and townships in a few days. Mears' cashier, Peterson, Mears' son and other officers of the bank are on the county treasurer's bond for $30,000. County Auditor Hale and County Treasurer Lee on hearing reports of trouble made a critical examination of the books, papers, etc., of this bank and concluded that it was sound. The bank has about $80,000 worth of paper and claims not to owe a cent. Certain it is that its doors were open all day yesterday and every person demanding his money was paid promptly. It is reported that the cashier of the Minot bank notified his father-in-law some time ago to withdraw his deposit. This, however, the officers here say is not the case, and that the bank just happened to get caught as any other bank in the country is liable to should all depositors suddenly withdraw.

3. January 27, 1893 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, January 27, 1893

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Article Text

# AROUND THE STATE. Diphtheria is reported from Grand Forks. The Casselton Fire department gives a masquerade ball Feb. 8. An athletic organization has been organized in the Fargo Agriculture college. Mr. and Mrs. Radford, of Fargo, lost two children with scarlet fever within a week. The Devils Lake schools have been closed, owing to a prevalence of typhoid fever in that city. Arne Arneson, who until recently has resided with his wife in Fargo, has mysteriously disappeared. Lafayette Beleal is adjudged insane by the Fargo board of examiners and sent to Jamestown for treatment. Sargent county, after paying over $4,000 rental for the county building it uses, has purchased it for $2,500. The Jamestown city council could not meet last Monday night because of the absence of so many members in Bismarck. Recent orders from headquarters have cut off a number of night operators along the Northern Pacific. Among the list Steele is prominent. The stores which were burned in the recent Jamestown fire will be rebuildea. Temporary headquarters have already been established by the owners. The Minot Journal has it on good authority that before long the bank of Minot will go into the hands of a receiver and that Hon. C. E. Gregory will be the receiver. The institution of a new lodge of the Order of Elks took place Saturday at Grand Forks. A delegation of forty of the leading Elks from the twin cities were in attendance. The seventeen half-breeds indicted at Grand Forks for perjury has been taken to Rolette county jail to await trial at the July term of the United States district court. Wolves are proving very troublesome to the sheepmen of Emmons county. S. F. Brindle had some twenty head killed in broad daylight, on the Shelly place, a few miles from Williamsport. The celebrated and somewhat complicated case of the State vs. McGahey, adultery, in Grand Forks, has been postponed for the seventh time. It now goes ever to the 28th of February. Editor Graver of the Benson County News publishes a realistic article, in which he describes how he was pretty badly pounded by a couple of persons, who took offense at some published article, regarding them. Dickinson Press: The Lehigh Coal Mining company of Dickinson, received a full car of blasting powder from Chicago, Wednesday morning. This gives one something of an idea of the magnitude of the business carried on at this mine. It is stated that upon the opening of the new Lloyd Opera house in Jamestown next month, special railroad rates will be given by the Northern Pacific to accommodate out-of-town visitors desiring to attend the dedication of this handsome theatre. The annual meeting of the stockholders of the Ellendale roller mill was held last week. The statement of the year's business shows a handsome profit. A dividend of 10 per cent was paid to the stockholders and a handsome sum was carried to the surplus fund. Devils Lake News: Marshal Hurst has gone round and round to all the blind piggers, even unto the twelfth and thirteenth, and given them fair warning to "close up" under penalty of being prosecuted. They were knocked into such a state of consternation by the threat coming from the head of our police force that they all at once simultaneously closed up.

4. December 6, 1895 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, December 6, 1895

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Article Text

WEDNESDAY. Alexander McKenzie came in from a western trip on last night's train. J. E. Phelan of the railroad commission came in from the west last night. The Guild will meet with Mrs. Macnider, Thursday afternoon at 2 o'clock. Mrs. F. A. Eaton, of Medora, who has been in the city attending court, returned home today. Governor and Mrs. Allin are in Jamestown and will visit for a time with Dr. Archibald at the asylum. The governor has had printed and is sending out his proclamation relative to the delivery and acceptance of the code. Brigadier General Brooke has appointed Captain W. A. Shunk of Fort Yates to witness the issue of annuity supplies to the Indians. At Mandan, before Clerk Montgomery of the United States court, testimony relative to the claims against the receiver of the North Dakota Milling association is being taken. J. M. Cochrane, attorney for the receiver, is there looking after the case. There are all kinds of claims from large and small creditors of the association, many of them being represented by attorneys. It will take several days to conclude the work. The hearing on the writ of habeas corpus, issued by the supreme court, and returnable on the 27th ult., at Fargo, was resumed Monday morning, and after the argument Chief Justice Wallin, on behalf of the court, announced its decision, sustaining Judge McConnell in sentencing Mears to jail for contempt of court in refusing to sign deeds as president of the Bank of Minot, and deliver them to the receiver.

5. May 7, 1898 The Washburn Leader Washburn, ND
Article from The Washburn Leader, May 7, 1898

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Article Text

MORTGAGE SALE. [First publication May 7th, 1898.] Noti 'C is hereby given that that certain mort gage. executed and delivered by Frank Johnson, single man, mortgagor. to the Bank of Minot. mortgagee. dated the 19th day of September, 1890, and filed for record in the office of the. register of deeds of the County of McLean and State of North Dakota. on the 8th day' of October, 1890, and recorded in book C of Mortgages at page 1 (and assigned by A. B. Guptill'as recelver of said Bank of Minor, Mortgagee), to William H. Mann, will be forectored by a sale of the premises in such murtgage and hereafter described, at the front door of the courthouse in the County of McLean and State of North Dakota at the hour of 10.o'clock, A. M. on the 18th day of June. 1895, to satisfy the amount due upon such mortga:re on the day of sale. The premises described 1b such mortgage and which will be sold to satisfy the same are described as follows: North East Quarter (N E of. Section Fourteen (14); in Township One hundred and forty-six (146), North of Range Eighty-one (81). west of the Fifth Principal Meridian. Mcl.ean County, N.D. There will be due on such mortgage at the date of sale the sum of $80f.37, besides taxes, If any. lat d Bismarc:, N.D., Stay 2. 1893. WILLIAM II. MANN Assignee of Mortgagee. BOUCHER, PPILBRICK it COCHRANE. Attorneys for Assignée.