Mortgage Bank & Investment Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: June 6, 1893
Location: Fargo, North Dakota (46.877, -96.790)

Metadata

Model: gpt-5-mini
Short Digest: d462ec06

Response Measures

None

Description

Article (New-York Tribune, 1893-06-07) reports Judge Rose (Jamestown) appointed R. S. Lewis receiver of the Mortgage Bank and Investment Company (Fargo) and that Mr. Lewis took possession. No run or prior suspension is described; receiver appointment implies closure. Date in article is June 6, 1893.

Events (1)

1. June 6, 1893 Receivership

Newspaper Excerpt: Fargo, N. D., June 6.-In the absence of Judge McConnell, Judge Rose, of Jamestown, has appointed R. S. Lewis, cashier of the Mortgage Bank, as receiver of the Mortgage Bank and Investment Company, ... Mr. Lewis took possession this morning.
Source: newspapers

Newspaper Articles (1)

1. June 7, 1893 New-York Tribune New York, NY

Article from New-York Tribune, June 7, 1893

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Article Text

ECHOES OF EARLIER FAILURES. Indianapolls, June 6.-The directors of the Capital National Bank held a meeting yesterday afternoon and went carefully over the books of the bank to determine the condition of the institution. After looking the grounds all over they found the bank solvent and decided to resume business. The Controller of the Currency has given the directors two weeks in which to resume business, but no definite decision has been reached regarding the exact time of resumption. Fargo, N. D., June 6.-In the absence of Judge McConnell, Judge Rose, of Jamestown, has appointed R. S. Lewis, cashier of the Mortgage Bank, as receiver of the Mortgage Bank and Investment Company, and the State Bank of Minot. which has no connection with the National Bank of Minot. Judge Rose fixed the bonds at $75,000, which Mr. Lewis bas secured and qualified yesterday. Mr. Lewis took possession this morning. These are collateral institutions of E. S. Ashley Mears. Floux City, Iown. June 6.-In the case of Wells W. Miller against the Sioux Investment Company, the order appointing a receiver was vacated on Funday In the District Court. and the suit was dismissed at the platntiff's cost. Eastern men are heavily interested In the company. The vacation of the court order is taken as an indication that its affairs are sound. Troy, N. Y., June 6.-The Inventory and schedules of James H. Carpenter, banker and Eastern agent of the Northwestern Guaranty Loan Company, were filed to-day. The statement shows the liabilities to be $235,223 2 and the nominal assets $237,852 94. The actual assets are placed at $131,671 95.