Article Text
Another Bank Succumbs. COOPERSTOWN, DAK., March 23. - The Bank of Cooperstown suspended today, owing to the recent failure of the Lenham elevator company. There were no very heavy depositors. The county treasurer had $4,000 in the bank.
12152. Bank of Cooperstown (Cooperstown, ND)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- state
- Start Date
- March 23, 1886
- Location
- Cooperstown, North Dakota (47.444, -98.124)
Metadata
- Model
- gpt-5-mini
- Short Digest
623cf0fc
Response Measures
Full suspension
Other: Proprietors assigned for benefit of creditors to an assignee (Theodore Draz), effectively placing bank in receivership/insolvency.
Description
Articles (Mar–Apr 1886) report a brisk run on the Bank of Cooperstown, suspension on March 23, 1886 caused by the failure of the Lenham Elevator Company (a large debtor), and an assignment for benefit of creditors shortly thereafter. Later reports list Cooperstown among failed banks. I classify this as run → suspension → closure. Bank appears to be a private/partnership bank (owned by Julius Stevens, H. G. Pickett, etc.). Dates are taken from article text and publication dates; receivership/assignment reported in early April 1886.
Events (3)
1.
March 23, 1886
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Brisk run triggered by the recent failure of the Lenham Elevator Company, a large debtor of the bank.
- Measures
- Hung up for repairs (temporary suspension of payments following heavy withdrawals).
- Newspaper Excerpt
- On Tuesday, the Bank of Cooperstown, after a brisk run upon it, hung up for repairs.
- Source
- newspapers
2.
March 23, 1886
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Failure of the Lenham Elevator Company, which reportedly owed the bank a large sum (claims up to $10,000$18,000), leading to inability to meet deposits.
- Newspaper Excerpt
- The Bank of Cooperstown suspended today, owing to the recent failure of the Lenham elevator company.
- Source
- newspapers
3.
April 1, 1886
Receivership
- Newspaper Excerpt
- Stevens & Pickett, the proprietors of the bank, assigned, for the benefit of creditors, to Theodore Draz, of the German American Bank of St. Paul, waiving all exemptions. (reported early April 1886).
- Source
- newspapers
Newspaper Articles (8)
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oe E. S. SEYMOUR, County Clerk. The Cooperstown Bank Suspends. News reached Hope on Wednesday that the Bank of Cooperstown closed its doors Tuesday morning. The suspension was caused by the failure of the Lenham Elevator company. The bank was owned by Julius Stevens, a partner of Anton Enger, the county treasurer of Griggs, and H. G. Pickett. The deposits amounted to about $15,000, one-half of which was county and school funds. The capital of the bank was $10,000. It is claimed the Lenham Elevator company owe the bank $10,000, and if, as is expected, the company is able to meet its liabilities, the bank will be able to resume. Mr. J. L. Wilcox, proprietor of the Hope House, had several hundred dollars on deposit in the bank.
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General News. The ladies' hour for swell breakfast parties in New York is 12 30 noon. La x is the way a lazy man wrote Lacrosse, Wis., in the address of a letter. At Los Angeles, Cal., sweet strawberries are plentiful at fifteen sents a quart. One of the London's swell clubs, the Empire, has collapsed, with $40,000 in debts. Half of the adult people of the Sandwich Islands are Chinese. Arrangements for decorating Gen. Grant's tomb on next Memorial day are already under way. The democrats of the Iowa Legislature voted to censure the President for his Des Moines land veto. The great strike of 4000 workmen at the National Tube Works, McKeesport, Pa., has ended satisfactorily to the strikers. The Bank of Cooperstown. Dak, suspended on Tuesday, owing to the recent failure of the Lenham Elevator Company. The postoffice at Hemphead, Texas, was robbed on Tuesday of $2100, of which $700 belonged to the government. Stone quarries on the estate of Mr. Parnell have been opened and material is being taken from them for paving streets in Dublin. Nearly $2,000,000,000 would be due were all insured Americans to die at once. Nearly $1,000,000,000 have already been paid on death losses in America. New Bedford citizens have formed a law and order league. One with a membership
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NEWS OF THE WEEK The Daily News is a new paper to b started at Brainerd, Minnesota, May 1st. The St. Paul carnival receipts amounted $41,000 and the expenditures to $48,000 Counterfeit coin to the amount of £500, 000 has been put in circulation in Egypt Dr. A. A. Ames has been nominated by the democrats of Minneapolis{as their can didate for mayor. O'Doherty, exiled from England to Var Dieman's land in 1848, has been sent to parliament from Queenstown. The Bank of Cooperstown, Dakota, has suspended, owing to the recent failure of the Lenham Elevator company. Helena, Arkansas, had a $290,000 fire on Sunday, three entire blocks, including the opera house, being burned. The Lenham Elevator company, operating eight elevators in Dakota on the line of the Northern Pacific, has failed. Fire destroyed the Standard Oil company's store and stock of 1,200 barrels of oil at Duluth last Sunday, causing a loss of $15,000. A mother arrived at Yankton, Dakota, Monday with three babies born while the train was crossing the Mississippi river from the east. The weekly bank statement shows a decrease of over $3,000,000. The banks now hold over $18,000,000 in excess of the 25 per cent rule. Congressman Anderson of Kansas has introduced a bill in the house to create a commission of arbitration to arbitrate in cases of labor strikes. Many Pacific coast Chinese are taking of the low passenger and are east. Two car advantage going loads rates of the celestials left San Francisco in one day. During 1885 the number of Germans who emigrated to the United States was 84,680; to Canada, 892; to Brazil, 1,000; to the Argentine Republic, 725; to Chili, . 681; to Africa, 294. Frederick Schwatka, the Arctic and Alaska explorer, has lately been made an honorary corresponding member of the Italian and Swiss geographical societies of Rome and Geneva. Fred Gould was killed at Galveston, Tex., by the explosion of an old shrapnel shell which had been found buried near the spot where the confederate forces had The telegraphers between Omaha and San Francisco look upon the proposed affiliation with the Knights of Labor with favor. They will at once join the local assembly in their neighborhood. H. Halthuseu, of Colorado Springs, has contracted to remove the hides from all the cattle in the Arkansas valley in Colo rado, that died from the late storms. These dead cattle are estimated at 20,000 head. Barbara Robinion, a little uneducated nine-year-old negro girl of West Point, Georgia, bids fair to rival Blind Tom as a pianist. She plays with a wonderful correctness any composition that she has once heard. Jay Gould's latest bluff at the strikers in the southwest is his threat to bring suit for damages against the Knights of Labor. He claims that he can recover damages from every member of the organization who has property. Maj. Henry Carroll, First cavalry, Fort Custer, Mont., and Capt. H. H. Humphreys, Fifteenth infantry, Fort Buford, Dak., are ordered to Las Cruces, N. Mex., as witnesses before the United States court in session there. A A Springfield, Mass, special says: valuable strip of mineral bearing ledge, three miles long, has been discovered in the towns of Peru and Worthington, near here. This ledge contains two parallel veins of gold and silver. The Knights of Labor have been very active on the Chesapeake & Ohio road lately and it is said that if they are not granted their request that the ten percent. reduction made several months ago be restored they will strike on May 1. General Thomas Swords, U. S. A., died at New York last Saturday. He fought against the Cherokees in 1830, was assistant quartermaster at Fort Leavenworth, Kansas, in 1835 chief quartermaster of the army of the west in the Mexican war, and chief quartermaster in various departments during the war of the rebellion. A terrible accident occurred Monday in the tunnel of & railroad, at Horse curve, Mahoning morning the Pottsville Shoe Pa. went on a top day near shift Pottsville, tremendous Shortly fall after of the rock took place, burying twenty workmen, Italians. James known as mostly Italian, "number Wright five," and were an killed outright and several others severely
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agree to receive maintain this university in its location, with all its right and privileges as the State University of Dakota, and to devote to its maintenance all public or proceeds thereof received by the state the establishment and maintenance of a state university, and said state accepting the property and trust must forever maintain the institution for the highest education of both sexes in literature, art, science, law, medicine, philos. ophy, mechanics and agriculture. The Bank of Cooperstown suspends by reason of the Lenham Elevator company's failure, Miss Minnie Brown and Edward H. Aplin of Huron were married in Rochelle, III., recently A scheme is broached at Watertown to dig a canal from the city to Lake Kampeska. The distance is about two and one-half miles. The Plankinton Academy association has been organized by members of the Congregational church. An effort will be made to secure funds for building and endowment. The county treasurer at Grafton has furnished new bonds of $113,000. The office has been re-opened. A large number of miners have staked claims in the snow at Ruby basin. vonpostofficein Bon Hommecounty, has lately been re-established and R. L. Wilson, appointed postmaster. Snow in the Bald mountain is from four to five feet deep. There is danger of a destructive flood when the breakup comes. Another very valuable tin ore find has been made six miles north of Custer. The tin is in minute particles and evenly disseminated through the rock. The Dakota Agricultural and Live Stock association organized at Mitchell, and resolved to offer $10,000 in premiums. Miller received $212.50 premium on $10,000 water bonds just sold, the highest price ever paid in the territory for municipal bonds. A government engineer was at Chamberlain recently looking up the location for a pontoon bridge at that place which the Milwaukee railway company will construct if the reservation opens. Judge Seward Smith, formerly of the fifth judicial district of Dakota, is failing rapidly and little hope of his recovery entertained. He is still in the asylum at Mt. Pleasant. The Russian colony at Wayne will build an elevator and ship their own grain to market. The treasure coach from Deadwood recently took out $250,000 bullion. John Hammond of Elk Point has been granted $1,500 arrears of pension. Rev. Stewart Sheldon, for thelast sixteen years general missionary and su perintendent of home missionary work in south Dakota, has been appointed to the field secretaryship of the Congregational Union Church Building society, Boston. David Conway died suddenly of bronchitis, at Hurley, aged seventy two years. Mr. Conway was one of the oldest Odd Fellows in the United States. In twenty two of the states the census shows there are 308,000 more women than men, in Dakota the men exceed the women by 29,415. Mr. Tauss, of Wahpeton, suspected a Mr. Beacham of being unduly intimate with Mrs. Tauss, and after attempting to kill him filed a petition for divorce. Beacham has left town. The Dakota Agricultural and Live Stock association is the name under which Mitchell will hold a fair next fall. Ten thousand dollars in premiums will be offered. The following are the officers: President A. M. Bowdle; vice president, S.A. Goody koontz;secretary, W. M. Hichcock; treasurer, George A. Salisbury Bishop Hare has written from Phil adelphia a very touching letter to the Episcopal congregation in South Da. kota on the occasion of the special mission,services which have just begun. Applications for admission to the school of mines already overrun its accommodations, and additional appropriations will be asked from the next legislature. The Mitchell postoffice will be made second-class April 1. Salary $2,200 per annum. Dr. Archibald, Supt. W. Nickeus Stuart and one or two of the trustees of the North Dakota insane hospital went to Yankton after thirty or forty patients, who belong at Jamestown have been in the Souti Dekota
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Plain Facts. Friday night it was known here that the Lenham Elevator company had suspended. Monday morning the agent of Van Dusen, Elliott & Co., who claimed a bill of sale of all the wheat in the elevator at this point, which was about 1,000 bushels, succeeded in shipping one car, when County Treasurer Enger and the sheriff descended upon the elevator and took possession for taxes in the amount of $350. About 400 bushels of rejected grain was the prize secured. Among the farmers who had wheat stored with the company, at this point, were C. H. Frost, 350 bushels; Iver Thompson, 500; Chris Arestad, 650; Iver Serumgarg, 700; Rollef Berg, 400; Arne Luckason, 400; D. Newell, 1,200. As near as can be estimated, about 5,000 bushels, belonging to our people, are tied up in the failure. On Tuesday, the Bank of Cooperstown, after a brisk run upon it, hung up for repairs. Among the depositors, Anton Enger, county treasurer, is short $5,000; Greendale School township, $2,000; Willow School township, $700; Helena School township, $500, and a few citizens in amounts ranging from $100 to $900. Wednesday morning Stevens & Pickett, the proprietors of the bank, assigned, for the benefit of creditors, to Theodore Draz, of the German American Bank of St. Paul, waiving all exemptions. The Lenham Elevator company is supposed to be indebted to the bank in amount from nothing to $18,000. On Thursday the First National bank of Duluth levied an attachment on the elevator at Cooperstown for the sum of $15,000. The elevator was already heavily encumbered. A report is current that the Bank of Cooperstown, but a few days ago, honored a draft of $16,000 for the Lenbain Elevator company. This report is flatly contradicted by Theodore Draz, the assignee, who believes the amount of indebtedness of the Lenham Elevator company to Stevens & Pickett to be trifting.-Cooperstown Courier.
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said state accepting the property and trust must forever maintain the institution for the highest education of both sexes in literature, art, science, law, medicine, philosophy, mechanics and agriculture. The Bank of Cooperstown suspends by reason of the Lenham Elevator company's failure, Miss Minnie Brown and Edward H. Aplin of Huron were married in Rochelle, Ill., recently. A scheme is broached at Watertown to dig a canal from the city to Lake Kampeska. The distance is about two and one-half miles. The Plankinton Academy associa tion has been organized by members of the Congregational church. An effort will be made to secure funds for building and endowment. The county treasurer at Grafton has furnished new bonds of $113,000. The office has been re-opened. A large number of miners have staked claims in the snow at Ruby basin. Aven'postofficein Bon Homme county, has lately been re-established and R. L. Wilson, appointed postmaster. Snow in the Bald mountain is from four to five feet deep. There danger of a destructive flood when the breakup comes. Another very valuable tin ore find has been made six miles north of Custer. The tin is in minute particles and evenly disseminated through the rock. The Dakota Agricultural and Live Stock association organized at Mitchell, and resolved to offer $10,000 in premiums. Miller received $212.50 premium on $10,000 water bonds just sold, the highest price ever paid in the territory for municipal bonds. A government engineer was at Chamberlain recently looking up the location for a pontoon bridge at that place which the Milwaukee railway company will construct if the reservation opens. Judge Seward Smith, formerly of the fifth judicial district of Dakota, is failing rapidly and little hope of his re" covery entertained. He is still in the asylum at Mt. Pleasant. The Russian colony at Wayne will build an elevator and ship their own grain to market. The treasure coach from Daadwood recently took out $250,000 bullion. John Hammond of Elk Point has been granted $1,500 arrears of pension. Rev. Stewart Sheidon, for the last six. teen years general missionary and superintendent of home missionary work in south Dakota, has been appointed to the field secretaryship of the Congregational Union Church Building society, Boston. David Conway died suddenly of bronchitis, at Hurley, aged seventy-two years. Mr. Conway was one of the oldest Odd Fellows in the United States. In twenty-two of the states the census shows there are 308,000 more women than men, in Dakota the men exceed the women by 29,415. Mr. Tauss, of Wahpeton, suspected a Mr. Beacham of being unduly intimate with Mrs. Tauss, and after attempting to kill him filed a petition for divorce. Beacham has left town. The Dakota Agricultural and Live Stock association is the name under which Mitchell will hold a fair next fall. Ten thousand dollars in premiums will be offered. The following are the officers: President A. M. Bowdle; vice president, S A. Goodykoontz; secretary, W. M. Hichcock; treasurcr, George A. Salisbury. Bishop Hare has written from Philadelphia a very touching letter to the Episcopal congregation in South Dakota on the occasion of the special which have just be-
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THREE BANKS FAIL. Wahpeton, Minneapolis and Cooperstown-Wheat Deals. The total suspension of the First National bank of Wahpeton, Dak., occurred Saturday. To pay the depositors in full an assessment of $20,000 will have to be levied on the stockholders. Cashier Hayward was arrested at the instance of Dunham & Johnson on a claim of $500 for unremitted collections, embezzelment being charged. Keller & Goodhue, general merchants were unable to meet the demands made unon them by the bank and their store was closed. The Mill and Elevator company has stopped operations. F. C. Geddings, the general manager, has been arrested on a charge of embezzlement, preferred by Dunn & Thompson, of Duluth. WAHPETON, Dak., March 26.-John Nelson, dealer in general merchandise, failed here today. No statement of assets and liabilities has yet been obtained. He did a large business. CLOSED ITS DOORS. Hope Pioneer. News reached Hope on Wednesday that the Bank of Cooperstown closed its doors Tuesday morning. The suspension was caused by the failure of the Lenham Elevator company. The bank was owned by Julius Stevens, a partner of Anton Enger, the county treasurer of Griggs, and H. G. Pickett. The deposits amounted to about $15,000, one-half of which was county and school funds. The capital of the bank was $10,000. It is claimed the Lenham Elevator company owe the bank $10,000, and if, as IS expected, the company is able to meet its liabilities, the bank will be able to resume. Mr. J. L. Wilcox, proprietor of the Hope house, had several hundred dollars in the bank. MORE WEHAT DEALS. MINNEAPOLIS, March 26.-The Bank of North Minneapolis failed this morning. It was a private institution, with William Farnsworth and Jacob Rouen as equal partners. It did a good business and the deposits amounted to $57,000. Two weeks ago it is alleged, Mr. Farnsworth went into a $200,000 wheat dealwheat went down and he put up $2000 daily till $21,000 had been sunk. All the money was extracted from the bank without the knowledge, it is so alleged, of Jacob Rouen. It developed that the bank had only $7,500 capital, to begin with. It had a large line of depositors.