1.
December 27, 1920
Grand Forks Herald
Grand Forks, ND
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TWO MOREN.D. BANKS CLOSED Institutions at Minot and Carpio Report Insufficient Cash Reserve. Minot. Dec. 27.-The First Farmers Bank of Minot. capitalized at $50.000 with $5,000 surplus. owned by the Savings Loan and Trust company of which Anthony Walton is president, and G. A. Ebbert, general manager, closed voluntarily today. The First Security Bank of Carpio, owned by the same trust company, also closed and G. A. Ebbert instructed the American Exchange Bank of Watford City, also owned by the-Savings Loan and Trust company to remain. open unless depositors institute a run on the institution. Up to a late hour this afternoon no information has been received as to whether Watford City Bank had closed or not. According to a statement made by Mr. Ebbert the bank closed voluntarity because of a shortage of cash reserve which condition is traceable to the refusal of farmers to sell their grain and pay indebtedness. to the bank. O. E. Lofthus, state bank examiner, is in this section of the state and is expected to arrive in Minot tonight and take charge of the bank. The annual meeting of the Savings Loan and Trust company will be held January 4 and at that time the matter of the farmers' liquidating their paper with the bank will be considered and an ample cash reserve created to enable the bank to reopen in the very near future, Mr. Ebbert states. The other banks of the trust company will reopen when the Minot bank secures a sufficient cash reserve. The banks were organized by Grant C. Youmans, former Minot banker and now of Minneapolis. He resigned as president of the trust company and banks more than a year ago.
2.
December 28, 1920
New-York Tribune
New York, NY
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Chicago Bank Wrecked By Losses in Hold-Ups Special Dispatch to The Tribune CHICAGO, Dec. 27.-The Dressel Commercial and Savings Bank, 2322 West Roosevelt Road, the scene of three holdups in the last two years, was placed in the hands of a receiver to-day by Federal Judge Carpenter. It is believed that the raids of the robbers, which netted them $7,250, placed the bank in an embarrassing position. Special Dispatch to The Tribune FARGO, N. D., Dec. 37.-Three more Non-partisan League banks closed their doors to-day. They were the First Farmers' Bank of Minot, the Security State Bank of Carpio and the Peoples' State Bank at Hatton. In the last two months twenty-seven state banks in North Dakota have closed. The Minot and Carpio banks had aggregate deposits of about $400,000 and capital of $65.000. The Hatton bank had deposits of $100,000 and capital of $50,000. Officials said the institutions were solvent and would open. PRIMEVILLE. Ore., Dec. 27.-The Crook County state bank of this place failed to open its doors to-day. Shrinkage of values of cattle and sheep on which the institution had made loans was said to have been responsible.
3.
December 28, 1920
Alexandria Gazette
Alexandria, VA
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CHICAGO BANK CLOSED; PRESIDENT IS MISSING Chicago, Dec. 28.-Depositors of the Dressel Commercial and Savings Bank waited in vain for its doors to open vesterday and when the president Andrew Dressel, could not be found, creditors petitioned Judge Carpenter in Federal District Court to adjudge the bank bankrupt. The Chicago Tile and Trust Company was appointed receiver, Other bank officials said the Dressel bank's funds had been depleted through the operations of hold un men and burglars during the past two years. Minot. N. D., Dec. 28.-The First Farmers' Bank of Minot was closed yesterday. Depleted reserve was given as the reason. The First Security Bank of Carpio, N. D., associated with the First Farmers of Minot, was closed yesterday afternoon. The closing of the People's State Bank at Hatton, N. D., was announced in Fargo. Princeville, Ore., Dec. 28.-The Crook County State Bank. of this place. failed to open its doors yesterday Shrinkage of values of cattle and sheep on which the institution had made loans was said to have been responsible.
4.
December 29, 1920
Grand Forks Herald
Grand Forks, ND
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Receiver Named For Minot Bank; Probably Will Open In January Minot, N. D., Dec. 29.-O. E. Lofthus, state bank examiner, arrived in Minot Monday night and placed Ole Lovik of the state bank examiner's office in charge of the First Farmers Bank of Minòt which closed yesterday. Mr. Lovik is checking up the institution. Mr. Lofthus remained in Minot until early Tuesday morning, going from here to Mohall. He expects to return to Bismarck Tuesday night. G. A. Ebbert, general manager of the Savings Loan and Trust Co., which owns the First Farmers Bank of Minot, the First Security Bank of-Carpio, which also closed and the American Exchange bank at Watford City, stated today that the Watford City institution has not closed and will remain open. The opinion is generally expressed by those connected with the trust company that the Minot and Carpio banks will re-open the fore part of January. The shareholders of the company hold their annual meeting in Minot January 4.
5.
December 29, 1920
Every Evening, Wilmington Daily Commercial
Wilmington, DE
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CHICAGO BANK CLOSED. Three in North Daketa Also Forced to Shut Doors. Chicago, Dec. 29.-Depositors of the Dressel Commercial and Savings Bank waited in vain for its doors to open Monday and when the president. Andrew Dressel. could not be found. creditors petitioned Judge Carpenter in Federal District Court to adjudge the bank bank rupt. The Chicago Title and Trust Company was appointed receiver Other bank officials said the Dressel bank's funds had been depleted through the operations of hold-up men and burglars during the past two years. Minot. N D. Dec. 29.-The First Farmers Bank of Minot was closed Monday Depleted reserve was given as the reason The first Security Bank of Carpio, \ D., associated with the First Farmers of Minot. was closed Monday afternoon. The closing of the People's State Bank of Hatton. N. D., was announced in Fargo.
6.
December 30, 1920
The Ward County Independent
Minot, ND
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Institution Owned by Savings Loan and Trust Co. Expects to Reopen Soon-Security Bank at Carpio Also Closed. The First Farmers Bank of Minot, capitalized at $50,000 with $5,000 surplus, owned by the Savings Loan and Trust Co., of which Anthony Walton is president and G. A. Ebert general manager, closed voluntarily Monday. The First Security Bank of Carpio owned by the Savings Loan and Trust Co., also closed, but Manager Ebert stated that the American Exchange Bank at Watford City, N. D., a kindred institution, would remain open unless the depositors made a run on the bank. Mr. Lovik, a state bank examiner, who resides in this city, is now in charge of the affairs of the bank. Altho there is a sign on the front of the bank notifying the public that the institution has been temporarily closed, the Savings Loan and Trust Co. is still doing business in the building occupied jointly with the bank. A representative of the Independent interviewed Mr. Walton Tuesday. He stated that the reopening of the bank would depend largely upon the decision of the stockholders who will hold their annual meeting Jan. 4. Mr. Walton explained that poor collections during the fall made it necessary to close the bank temporarily at least. While there are over $300,000 bills receivable, very little money has been paid in during the fall, he said. Money kept going out, and little came in, consequently it was decided to close until conditions could be re-adjusted. The checking account was very light at the time the bank closed, something like $20,000. There were 171 depositors with an average checking account of less than $5.00, Mr. Walton stated. Since the bank closed many of the stockholders have asked Mr. Walton if $100 each from them would be of any assistance in re-opening the institution and he states that an attempt will probably be made at the annual meeting to raise enough money so the affairs of the institution may be carried on. Mr. Walton stated that since closing the bank, he has been figuring up the bills receivable and finds there is over $300,000 of this kind of paper. "Our bills are considered good, only we cannot realize on them at this time," he said. The Trust Co. has an equal amount of assets. The Trust Co. has thirty houses all bringing in rent and will keep on doing business just the same." The following statement was given out by Mr. Ebbert: "The closing of the First Farmers Bank of Minot was due to the simple
7.
January 6, 1921
The Ward County Independent
Minot, ND
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The annual meeting of the stockholders of the Savings Loan and Trust Co. was held at the hall in the Farmers store building on the afternoon of Tuesday, Jan. 4, and the question of re-opening the First Farmers Bank of Minot and the First Security Bank of Carpio, closed voluntarily on Dec. 27, for lack of sufficient cash reserve, was taken up. The meeting was at tended by fully 200 shareholders and after the matter had been thoroly discussed by G. A. Ebert, general manager, and Anthony Walton, president of the Savings Loan and Trust Co., the shareholders were unanimously in favor of proceeding with the re-opening of the two banks and pledged their combined resources, if necessary, in order that the institutions may be reopened. An Independent representative who called at the bank the following day and interviewed Messrs. Walton and Ebert, was informed by those gentle> men that they were very hopeful of reopening the two banks about January 15. At Tuesday's meeting, the shareholders pledged $10,000, raising more than half of that amount that day. Committees were appointed to work in the various townships in Northwestern North Dakota and assistance is even forthcoming from sections of eastern North Dakota. Among some of the items offered Tuesday's meetings was a $600 hail insurance warrant, railroad pay checks, Liberty Loan bonds, Thrift Stamps, and cash running in amounts
8.
February 10, 1921
Emmons County Record
Linton, Williamsport, ND
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nybrook State Bank is listed as under obligations to the Bank of North Dakota to the extent of $93,534.31. It is the home of the famous Del. Patterson. No wonder that bank decided to close its doors, when it owed one bank alone such an amount. The First Farmers' Bank of Minot is another institution run until recently by Grant Youmans, former socialist treasurer of the state organization, and a friend of Townley. On Dec. 3d, last, it had a total obligation to the Bank of North Dakota of $65,966.52. The above figures are taken from the Bridgeman-Brissman audit as of Dec. 3d. Undoubtedly, still more startling conditions would be developed if the house investigating committee could get access to all records of the bank, and would know where to go to find the suspicious details. But Manager and Director General Cathro has indicated that he would ratner go to jail than let the committee have access to the records of even the Scandinavian-American Bank deals only. The people of North Dakota builded better than they knew when they vot ed in favor of the initiated law calling for the examination of the Bank of North Dakota.
9.
April 7, 1921
The Ward County Independent
Minot, ND
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Van Sickle Receiver of First Farmers Bank G. R. Van Sickle has been appointed receiver of the First Farmers Bank of Minot, the appointment being made by O. E. Lofthus, State Bank Examiner. Mr. Van Sickle began his duties at the bank today. He has just started checking the business of the bank and is in no position to make public any figures at this time. He firmly believes that everything will be found in first class condition, with the exception of the low cash reserve, which caused the bank to close some months ago, and he informs the Independent that he hopes to have the business in such shape within a few weeks so that the bank will be in a position to re-open. Anthony Walton, president of the Savings Loan & Trust Co., is attending to the usual business of the Trust Co., which is located in the same room as the bank. The appointment of Mr. Van Sickle is regarded as a very wise selection as he has gained the reputation of being one of the very best accountants as well as one of the most competent credit men in the state.
10.
April 14, 1921
The Ward County Independent
Minot, ND
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CITY NEWS IN BRIEF John Renz started seeding Monday. Atty. K. E. Leighton is transacting legal business in Bismarck. Dr. J. T. Newlove is looking after his farming interests at Stirling, Alta. James Kimball of Crosby, a former resident of this city, is visiting with friends and relatives in Minot. Geo. W. Kemper has returned from an auto trip to Washburn on business. He reports the roads excellent. Mrs. H. M. Erenfeld left Sunday for Madison, Wis., to spend a week with her son, Fritz, who is attending the University there. G. R. Van Sickle, receiver of the First Farmers Bank of Minot, is planning on motoring to Bismarck Friday on business connected with the bank. Mrs. G. D. Colcord, who has been in St. Joseph's hospital for two weeks, following an operation, returned home Tuesday. She is recovering nicely. Petty thieves have now taken to stealing radiator caps in Minot. Dr. Wheelon and R. W. Kennard report such losses. The caps were provided with therometer and are reported to be worth about $15. R. W. Du Vall have a three returned Mr. and from Mrs. months visit in Spokane and. points in California. They visited at the home of- their son, Bruce, at Ripon, Calif., and spent some time at Palo Alto and Los Angeles. Miss Helen Harrison of Wadena, Minnesota, is a guest at the home of her sister, Miss L. L. Carpenter, 719 N. E. Miss nurse a Fifth graduate street and has Harrison been con- is nected with Minneapolis hospitals for several years. Henry Dana Jewett, of Dryden, Ont., has been visiting W. O. Doolittle for several weeks. Mr. Jewett and Mr. Doolittle were together in the Forestry school of Northern Michigan at the time Mr. Doolittle was instructor there. Andrew Jacobson, prominent Burlington township farmer, was in the and that he city dependent Wednesday finished informs seeding the 100 Inacres to wheat Tuesday and has:several outfits busily engaged in preparing about 300 acres more for spring seeding. Mrs. George Ingebrand, who subto an at last week for mitted hospital operation appendicitis St. Joseph's and complications, is recovering nicely. Mr. Ingebrand's father is seriously ill from stomach trouble in St. Paul and it may be necessary for him to go to his bedside this week. W. O. Doolittle left some choice pure maple sugar at this office, which he secured from near his old home, Geauga county, O., where 600,000 maple trees are tapped every spring. This county furnishes almost as much ma-
11.
April 21, 1921
The Ward County Independent
Minot, ND
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NOTICE TO CREDITORS In the matter of the insolvency of First Farmers Bank of Minot, Minot, N. Dak.: To the creditors of the First Farmers Bank of Minot: Notice is hereby given to the creditors of the above named insolvent bank that the time for presenting claims against said bank will expire on October 22nd, 1921, and you are hereby notified that any claim against said insolvent bank must be filed with the Receiver before that date. Dated at Minot, North Dakota, April 22, 1921. G. R. VAN SICKLE, 4/21-2t Receiver.
12.
April 21, 1921
The Ward County Independent
Minot, ND
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G. R. Van Sickle Receiver of Security Bank of Carpio G. R. Van Sickle, who was appointed receiver of the First Farmers Bank of Minot recently, returned from Bismarck Saturday night where he conferred with the state banking department. Mr. Van Sickle has been appointed receiver of the First Security Bank of Carpio, a bank allied with the First Farmers Bank of Minot, which closed at about the same time as the Minot institution closed. Mr. Van Sickle found the roads ideal for motoring, making the return trip in 4 1/2 hours.
13.
January 10, 1922
Grand Forks Herald
Grand Forks, ND
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NEW PLAN FOR RECEIVERSHIPS SAVES MONEY Twenty-five Per Cent Saving in Salaries Has Already Been Accomplished. Bismarck, N. D., Jan. 10.-Reduction of 25 per cent in the salaries paid receivers of closed banks in North Dakota already has been accomplished through consolidation of receiverships, it is said. With the announcement by the banking board of the appointment of three more receivers for groups of banks, there remains but two or three more groups in the state for which receivers will be named under the consolidated plan. The consolidation has not been carried to its full extent because of the fact that some receivers obtained confirmation of their appointments try courts and have refused to resign. The question of whether the court or state examiner, with approval of the state banking board, shall have power to name receivers will be settled through an appeal of a Dickinson case to the supreme court. W. E. Burgett, of Flaxton, president of the Citizens State bank of that city, has been named receiver for closed banks at Greene, Tolley, Fortuna. Columbus, Loraine and for the Security State of Mohall. G. R. Van Sickle, of Minot. has been appointed receiver for the Williston State bank of Williston. He also is receiver for the First Farmers bank of Minot and the First Security of Carpio. J. W. Lee, of Rhame, has been named receiver for closed banks at Haynes, Marmarth and for the First State bank of Amidon. He has been receiver for the Farmers State of Rhame and continues to act as receiver for that institution.
14.
January 26, 1922
The Ward County Independent
Minot, ND
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be mainained in very good shape. Bids are to be opened on Feb. 6. Depositors Receive 40% Dividend On Closed Carpio Bank G.R. Van Sickle, who has been acting as receiver for the First Farm-, ers Bank of Minot and the First Security Bank of Carpio, has succeeded in declaring a dividend of 40% for the depositors of the latter institution. He reports that the affairs of the Carpio bank are not in bad condition and he believes that with a little careful work, that bank never would have needed to close. Mr. Van Sickle was recently made receiver for the Williston State Bank and is now having the records of that institution forwarded to Minot, so that the work of closing up the affairs of the three banks can be done most economically.
15.
December 27, 1922
The Devils Lake World
Devils Lake, ND
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JUDGE C. W. BUTTZ WILL TRY BANK CASES AT MINOT Judge C. W. Buttz and Court Steno. grapher Lloyd B. Stevens leaves next Tuesday for Minot to try about 20 civil cases in district court wherein the judges in that district are disqualified. The cases to be tried are practically all brought by the receiver of the First Farmers Bank of Minot, which was organized by Grant S. Youmans a number of years ago, and which was closed in the fall of 1920, against farmers who gave notes in payment of bank stock. Judges John C. Lowe of Minot and Geo. H. Moellr_ ing of Williston both owned stock in the defunct bank, and were therefore disqualified to act. A large per cent of the farmers in Ward, Williams, Burke, Divide, Mountrail and other counties in the vicinity of Minot signed notes for stock in the bank which was organized by Mr. Yeomans, and in which the Savings Loan & Trust Co. of the same city owned the majority of the stock. The bank was organized after another bank in which Yeomans held a heavy stock was closed by the state banking department. At the time the first bank was closed Mr. Yeomans brought a damage suit against L. B. Hanna, who was then governor, and the state banking department, for putting him out of business, but the case was dismissed after the evidence was heard by the court. The new bank was in business for several years, and during the time of tight money in 1921 received several quite large deposits from the Bank of North Dakota. In spite of this it was unable to hold out and closed its doors in the fall of 1920, and a receiver was appointed to liquidate it. Many farmers paid their notes a short time after they were given, but many resisted payment on various grounds. The notes are now in possession of- the receiver, and he is bringing action to enforce collection. Among the farmers who are resisting payment are those who claim that Mr. Youmans did not keep his part of the agreement, that no stock was ever issued to them, and that no value was given for the notes. In the vicinity of Bowbells, in Burke county, the stock salesman told the farmers that Mr. Yeomans was planning on starting a bank in Bowbells and stock being sold in the new bank to be established: Farmers signed notes with the idea of getting stock in a Bowbells bank, but such bank was S never established, and the notes were S never returned to the signers. These notes are now in the possession of the 1 receiver of the Minot bank, and action is being brought to compel the farmy ers to pay them. The cases will involve many new points to be decided by the court, and outcome will be watched with considerable interest by people all over the state.
16.
May 15, 1923
The Bismarck Tribune
Bismarck, Mandan, ND
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# EYESIGHT FAILS,
# MAN RELIEVED
# FROM HIS NOTE
Minot, N. D., May 15.-Judge C. W. Buttz of Devils Lake, deciding in the action brought by C. A. Haines and Mrs. C. A. Haines, farmers, against G. R. Van Sickle, receiver of the First Farmers bank of Minot, to set aside and cancel a real estate mortgage on their homestead and a chattel mortgage on the crops there, holds the notes secured by the mortgages were without consideration, or that consideration had failed.
The plaintiff signed a written contract to buy five shares of capital stock of the Savings Loan and Trust company of Minot and gave his note therefor. The shares were never issued to him because the company could not deliver the shares of stock until the note was paid, under the terms of statutes cited by Judge Buttz.
Haines, who is nearsighted and unable to read without a high powered magnifying glass, was approached by a stock selling agent of the Savings Loan and Trust company while harvesting and without his magnifying glass was unable to read the documents he signed. He claimed that when he signed there was talk about organizing the First Farmers bank of Minot, or a farmers bank of some sort, and that he was contracting for stock in this proposed banking institution, and not in the Savings Loan and Trust company.
17.
January 23, 1924
The Bismarck Tribune
Bismarck, Mandan, ND
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RECEIVER SUES ON MANY NOTES Minot, N. D., Jan. 23. - Papers have been served in approximately 75 civil district court actions instituted by L R. Baird of Bismarck, as receiver of the First Farmers bank of Minot. seeking to recover on stock notes totaling approximately $25,000. originally given to the Savings Loan & Trust company of Minot and later transferred to the First Farmers bank. G. R. Van Sickle of Minot, district manager of closed banks. announced today. The notes, according to Mr. Van Sickle, were surrendered by the Savings, Loan & Trust company to the First Farmers bank to pay the double liability incurred under the statutes by the trust company as stockholder- of the First Farmers bank of Minot and associated banks. following the closing of the latter institution.
18.
June 6, 1924
The Bismarck Tribune
Bismarck, Mandan, ND
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# POST-DATED
# CHECKS ASKED
# ORDERED SOLD
Foreclosure Suit Instituted on
Loan Made by Nonpartisan
League
Suit has been instituted in Burleigh county district court by Dickinson and Johnson, Minot attorneys, for the receiver of the First Farmers Bank of Minot, against the National Nonpartisan League, to foreclose on security given for a loan made by the bank to the organization.
The loan, for $6,000, was made March 25, 1920, due in 90 days, according to the complaint. About 800 post-dated checks, aggregating about $12,000, given by individuals on banks in North Dakota, Nebraska, Oklahoma, Wisconsin, Idaho, Kansas, Montana and Washintgon, were given the bank as security. The unpaid portion of the note is alleged to be $2,658.37.
The court is asked to order the security foreclosed and the checks sold.
19.
September 22, 1924
The Bismarck Tribune
Bismarck, Mandan, ND
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SUMMONS STATE OF NORTH DAKOTA, County of Burleigh. In District Court, Fourth Judicial District. L. R. Baird, as Receiver of the First Farmers Bank of Minot, a corporation, Plaintiff, vs. National Nonpartisan League, a corporation, Defendant. The State of North Dakota to the above named defendant: You are hereby summoned and required to answer the Complaint in this action, which is now on file in the office of the Clerk of the District Court of Burleigh County and to serve a copy of your said Answer upon the subscriber, at his office, mentioned below, within thirty days after the Service of this Summons upon you, exclusive of the day of service; and you are hereby notified that in case of your failure to appear or answer, the plaintiff will take judgment against you by