12350. Lloyd's bank (Jamestown, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 19, 1895
Location
Jamestown, North Dakota (46.911, -98.708)

Metadata

Model
gpt-5-mini
Short Digest
a5e49416

Response Measures

None

Description

Articles (Apr–Aug 1895) report Lloyd's bank as defunct and in hands of Receiver Johnson; no article describes a depositor run. Receiver negotiated settlement with D. McK. Lloyd for $23,000. Therefore this is a suspension/closure (failure) with receivership, not a run-driven episode. Bank type not specified in articles.

Events (3)
1. April 19, 1895 Receivership
Newspaper Excerpt
D. McKay Lloyd's proposition ... has been refused by Receiver Johnson... (and) Lloyd's defunct bank of this city, accompanied by Col. John D. Benton...succeeded in effecting the settlement of the claim of Lloyd's bank against David McK. Lloyd. Receiver Johnson accepted a compromise, and the amount of $23,000 was accepted. (May 3 report).Special National Bank Examiner Seeley is in Jamestown, checking up the accounts of Lloyd's bank, since it was placed in the hands of a receiver. (Aug 2).”,
Source
newspapers
2. April 19, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank placed in hands of a receiver due to insolvency/claims related to D. McK. Lloyd and losses; bank described as 'defunct' in later articles.
Newspaper Excerpt
D. McKay Lloyd's proposition to settle the case against him in the Lloyd's bank matter at Jamestown by the payment of $20,000, has been refused by Receiver Johnson, who deems the amount insufficient.
Source
newspapers
3. May 3, 1895 Other
Newspaper Excerpt
Receiver Johnson accepted a compromise, and the amount of $23,000 was accepted from Mr. Lloyd in lien of taking further legal proceedings in the case.
Source
newspapers

Newspaper Articles (7)
1. April 19, 1895 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, April 19, 1895

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Article Text

# STATE NEWS. Items of Interest Gathered From All Parts of North Dakota. The holdup season has begun in Fargo. Ex-Governor Burke is visiting in the eastern part of the state. Jamestown's mayor tells bicyclists they mustn't ride on the sidewalks. A convention of Catholic laymen has been called to meet at Fargo May 29 and 30. Engineer Mallick of Jamestown, has about completed the model of a flying machine, which it is said will work very well. The contract for remodeling the Argus block in Fargo, and converting it into a hotel, has been let for $10,200. Work will be commenced at once. The commissioners of LaMoure county at their last meeting offered a reward of $200 for the body of August Tromer, if dead, or himself in person, if alive. F. H. Farmer was made president and W. F. Crewe secretary and treasurer of the North Dakota Veterinary Examining board at its session at Fargo Wednesday. Dr. DeVaux, superintendent of the North Dakota vaccine station at Valley City, received an order for $300 worth of points from the city of St. Louis a day or two ago. Captain Lindeman, a lady staff officer of the Grand Forks barracks of the Salvation Army, was seriously injured in a row with hoodlums, two of whom have been arrested. Steele White Ribbon women made a personal visit to the blind pigs in that city the other day, and as a result of their work the several places have been closed up tight. At a meeting held at Mayville $5,000 was raised in an hour for the state normal school. This will insure its being kept open for the next two years, and the citizens of that place are happy. D. McKay Lloyd's proposition to settle the case against him in the Lloyd's bank matter at Jamestown by the payment of $20,000, has been refused by Receiver Johnson, who deems the amount insufficient. In 1893, 85 acres were planted to corn in Stutsman county. Last year this was increased to 237, and if any reliance can be placed in reports, the acreage this year will be large increased and will run up to 700 acres or more. At the meeting of the county commissioners of Wells county, at Fessenden, they ordered a special election for the purpose of voting on the issue of $12,000 in bonds for the erection of a court house at Fessenden. Friends of North Dakota have formed a big immigration scheme, to get all the Dunkards in the United States to form a community in this state. The advance guard has already arrived and from the reports of children and stock being born on the train the idea is propagated that the new colonists are prolific, if nothing else. The second coursing given by the Oakes Coursing club commenced yesterday morning. Everything indicated that the races would be a complete success. Thirty-two dogs fill the race, enough to more than fill. Some of the best dogs in the United States and some in England were entered. The purses amount to $256.80. Circulars are being sent out urging all who are interested in amateur journalism to do all they can in their power to bring about a permanet organization of an Amateur Press association. William Hancock, chairman, and Alson Brubaker, secretary of the Fargo committee on organization, are doing all they can to bring about this movement, and they are working earnestly. According to the Grand Forks News ex-Speaker Geo. H. Walsh is home from Fort Smith, Ark., looking well, and happy. He reports Fort Smith in a state of activity. He has a 40-acre suburban property, with a typical southern-mansion, and Mrs. Walsh and the children are content. Stewart is a conductor on the electric street railway, and he expects to run right up to the Walsh mansion soon.

2. May 2, 1895 Jamestown Weekly Alert Jamestown, ND
Article from Jamestown Weekly Alert, May 2, 1895

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Article Text

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.

3. May 4, 1895 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, May 4, 1895

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Article Text

Lloyd Settles. JAMESTOWN, N. D., May 3.-Receiver Johnson, of Lloyd's defunct bank of this city, accompanied by Col. John D. Benton, of Fargo, as attorney, has returned from Pittsburg, Pa., where they succeeded in effecting the settlement of the claim of Lloyd's bank against David McK. Lloyd. Receiver Johnson accepted a compromise, and the amount of $23,000 was accepted. From a personal examination of the assets of Mr. Lloyd, it was found that, while the general belief is that he is wealthy, it developed that since the failure here of the Lloyds' bank he has lost about $167,000. It was shown that Mr. Lloyd has paid, or obligated himself to pay, $93,000 on account of this bank failure. The failure of mining enterprises is said to have crippled him.

4. May 24, 1895 Oakes Weekly Republican Oakes, ND
Article from Oakes Weekly Republican, May 24, 1895

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Article Text

NORTHDAKOTANEWS. Valley City has a bicycle rider 70 years old. The North Dakota Dental society met at Fargo last week. Stutsman county hes organized a Wool Growers' association. The railroad commissioners will start on their inspection trip June 3. A 15 per cent dividend for creditors of Lloyd's bank at Jamestown is expected by June 15. The Jamestown city council refused to grant a 25-year franchise to an electric light company. Editor R. N. Stevens of the Bismarck Tribune will deliver the Memorial day address in Jamestown. The North Dakota Sportsmen's association will hold its first aunual tournament at Fargo June 13 and 14. Jamestown has been sued by Mrs. Eunice Carpenter for $10,000 damages on account of defective sidewalks. T. J. Lamb, recently elected mayor of Michigan C.ty, is the youngest man holding that position in the state. The Grandin elevator, with 10,000 bushels of wheat and two cars, burned at Alton. The elevator was valued at $12,000. There is a report that the Milwaukee will extend north from Edgeley to the Turtle Mountains, crossing the Soo at Harvey. Railroad Commissioner Currie was elected vice-chairman of the National Organization of Railroad Commissioners at Washington. The Valley City Fair association will hold a June race meeting. Prizes are up for trotting, running and ladies' and gentlemen's bicycle races. The proposed Grand Forks-Fargo telephone line has been. surveyed and stakes set, marking the location of the poles between Hillsboro and Fargo. The Duluth and North Dakota railroad seems to be doing business. Grading, it is said, will commence between Drayton and St. Thomas next week. An association with a capital of $20,000 has been organized at Cando for the purpose of encouraging the breeding and training of fast and blooded horses. It is state.l that on the Missouri division of the Northern Pacific upwards of 25 bridges are to be done away withfilled in, and immense culverts put in their places. Fargo's scheme to feed tramps who will work an hour for a meal, has resuited in 250 meal tickets being handed out since the project was p.aced in vogue one month ago. George Purvis, land agent of the Great Nortnern, says that the lands of the Red it.Ver valley are being rapidly settled. h. has located a large number of mmigrants from Wisconsin on Great Northern hands. Henry E ickson of Towner a few days ago P. d to the Sout 1 St. Paul stock yaras as carioad ot choice wheatfed cattle, four of which topped the market for the season, iringing 5 cents, the inguest since 1801.

5. June 15, 1895 The Bottineau Courant Bottineau, ND
Article from The Bottineau Courant, June 15, 1895

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Article Text

Tuesday, June 11. There are 300 inmates in the Jamestown insane asylum. Cavalier county land is in great demand. Sneak thieves are stealing screen doors off the hinges at Fargo. The Chautauqua summer assembly, Devils Lake, June 28 to July 21. The July racing meet at Grand Forks promises to be a decided success. Grand Forks has eight attorneys, each of whom wants to be municipal judge. Judge Sauter is doing good work in the new district and the attorneys in the Seventh praise him mightily. J. J. Rogalla was run in at Minto for running a blind pig. So was William Hummelspangh. James Rice, a farmer from McCanna, was before the insanity board at Grand Forks. His debts drove him crazy. Receiver Johnson, of Lloyd's bank, Jamestown, has received a draft for $23,000 in settlement of the bank's claim against D. McK. Lloyd. The First National Bank of Casselton has been requested to arrange to pay drafts for a Chicago bank that has business in this state. The Jamestown asylum has contracted for North Dakota coal this year at $3.15 per ton. Last year the figure was $2.89. It has been decided to employ JUV laborers at the Pacific terminus of the proposed Panama canal. The Spanish chamber of deputies adopts a vote censuring the government, which the republicans seem determined to overthrow.

6. June 20, 1895 Courier Democrat Langdon, ND
Article from Courier Democrat, June 20, 1895

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Article Text

Tuesday, June 11. There are 300 inmates in the Jamestown insane asylum. Cavalier county land is in great demand. Sneak thieves are stealing screen doors off the hinges at Fargo. The Chautauqua summer assembly, Devils Lake, June 28 to July 21. The July racing meet at Grand Forks promises to be a decided success. Grand Forks has eight attorneys, each of whom wants to be municipal judge. Judge Sauter is doing good work in the new district and the attorneys in the Seventh praise him mightily. J. J. Rogalla was run in at Minto for running a blind pig. So was William Hummelspaugh. James Rice, a farmer from McCanna, was before the insanity board at Grand Forks. His debts drove him crazy. Receiver Johnson, of Lloyd's bank, Jamestown, has received a draft for $23,000 in settlement of the bank's claim against D. McK. Lloyd. The First National Bank of Casselton has been requested to arrange to pay drafts for a Chicago bank that has business in this state. The Jamestown asylum has contracted for North Dakota coal this year at $3.15 per ton. Last year the figure was $2.89.

7. August 2, 1895 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, August 2, 1895

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Article Text

Special National Bank Examiner Seeley is in Jamestown, checking up the accounts of Lloyd's bank, since it was placed in the hands of a receiver.