12349. Lloyd's bank (Jamestown, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 27, 1893
Location
Jamestown, North Dakota (46.911, -98.708)

Metadata

Model
gpt-5-mini
Short Digest
a25ec008

Response Measures

None

Description

Articles report the Lloyd's bank as suspended in late July 1893 and a receiver (John D. Benton) appointed Sept 22, 1893. A later article (1909) recounts a gold brick swindle that was disclosed after the bank had failed (Feb 1894). There is no description of a depositor run in the supplied articles; sequence is suspension then receivership/closure due to bank-specific fraud/asset problems.

Events (3)

1. July 27, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended amid later-disclosed gold brick swindle and related bad assets that undermined solvency (fraud by a man named Harper).
Newspaper Excerpt
An effort is being made to arrange for opening the suspended Lloyd's bank at Jamestown again.
Source
newspapers
2. September 22, 1893 Receivership
Newspaper Excerpt
AND now Hon. John D. Benton has been appointed receiver for the Lloyd's bank at Jamestown.
Source
newspapers
3. February 1, 1894* Other
Newspaper Excerpt
The disclosure of the swindle of the Lloyd's bank was not made public until February. 1894, long after the bank had failed.
Source
newspapers

Newspaper Articles (3)

Article from The Dickinson Press, August 5, 1893

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Article Text

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.


Article from Bismarck Weekly Tribune, September 22, 1893

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Article Text

AND now Hon. John D. Benton has been appointed receiver for the Lloyd's bank at Jamestown. Ten dollars a day for this job in addition to a like sum as receiver for the Mears institution in Fargo, is not so bad-in fact it is about as good as being United States senator -unless a man wants honor for pay.


Article from Bismarck Daily Tribune, October 20, 1909

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Article Text

CHAFFEE SWINDEER HAD SPENT N. DAK. MONEY MADE IN JAMESTOWN Jamestown Alert: Frank Lenz, who was assistant to Receiver Johnson in the Lloyd's bank, recalls further interesting details in connection with the gold brick swindle perpretrated by Harper on the Lloyd's bank about two years before it closed its doors. He states this swindle was known to a few individuals but it took the receiver of the bank quite a while to run down the consideration for the $10,000 note left by O. H. Holt among the assets of the bank. which was the money paid out for the gold brick. They finally learned that Harper had been located, after the swindle, in Minneapolis, and admitted to Mr. Lloyd that he was the man who did the job. but, owing to the fact that to arrest him and cause publicity to the transaction at that time would have probably caused a run on the bank, no action was taken to bring him to justice. The "gold brick" was thrown in the Jim river from the Sixth street bridge, but no one has ever found it as far as is known. The disclosure of the swindle of the Lloyd's bank was not made public until February. 1894, long after the bank had failed. The same Harper is evidently doing business as seen in the Chaffee incident. It is said that another well known North Dakotan afterwards admitted that he had narrowly escaped being a victim of this same old man Harper. How many other victims have been caught by him, who have never squealed, is npt known-possibly there are several such.