12466. First National Bank (Minot, ND)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
national
Bank ID
4009
Charter Number
4009
Start Date
January 4, 1892
Location
Minot, North Dakota (48.233, -101.296)

Metadata

Model
gpt-5-mini
Short Digest
b355e8e1

Response Measures

Full suspension

Other: County treasurer withdrew county funds; run tied to refusal to pay taxes by principal proprietor.

Description

Newspaper reports (Jan–Mar 1892) state the Ward County treasurer withdrew county funds because the bank's principal proprietor refused to pay taxes; this withdrawal caused a run and led to the bank's suspension. There is no clear information in the provided clippings about a reopening or permanent closure, so outcome is uncertain.

Events (2)

1. January 4, 1892 Run
Cause
Bank Specific Adverse Info
Cause Details
County treasurer withdrew deposits because the bank's principal proprietor refused to pay taxes; that withdrawal triggered a run on the bank.
Measures
Withdrawal of county funds; bank subsequently suspended
Newspaper Excerpt
It is stated that the reason why the county treasurer of Ward county withdrew the county funds from the First National Bank of Minot, causing its suspension
Source
newspapers
2. January 4, 1892 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension followed after large withdrawals precipitated by the county treasurer removing public deposits due to proprietor's refusal to pay taxes.
Newspaper Excerpt
It is stated ... the county treasurer of Ward county withdrew the county funds from the First National Bank of Minot, causing its suspension
Source
newspapers

Newspaper Articles (3)

Article from The Washburn Leader, January 9, 1892

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Article Text

Why He Withdrew the Deposits. MINOT, N. D., Jan. 4, 1892.- [Special.] -It is stated that the reason why the county treasurer of Ward county withdrew the countv funds from the First National Bank of Minot, causing its suspension, was because the principal proprietor of the bank refused to pay taxes. It is also rumored that he intends to pursue the same policy of refusing to pay taxes at Fargo and other points in the state, the ruling of the supreme court making it feasible in some cases to dodge taxes without incurring any penalties.


Article from The Washburn Leader, January 16, 1892

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Article Text

The Bismarck Tribune says: "The legislature, in passing the state bank law, builded better than they knew. It has stood the test of criticism and is now considered the best state banking law in the United States. Public Examiner Wallace says that it 18 an excellent law, but that two or three amendments are necessary---------------one in particular, giving the examiner the same power to take charge of and close up the affairs of a shaky institution that is given the national examiners of national banks. The new law has added over $1,000,000 to the taxable property of the state." Minot, N. D., Jan. 4, 1892.-[Special] -It is stated that the reason why the county treasurer of Ward county withdrew the county funds from the First National Bank of Minot, causing its suspension, was because the principal proprietor of the bank refused to pay taxes. It is also rumored that he intends to pursue the same policy of refusing to pay taxes at Fargo and other points in the state, the ruling of the supreme court making it feasible in some cases to dodge taxes without incurring any penalties. Jamestown Alert: This year the people of this state will elect state senators in the odd numbered districts, and the entire membership of the lower house of the legislature, and that legislature will elect a United States senator. A member of congress will be elected, also an entire state ticket, one judge of the supreme court, and three presidential electors. In addition to these each county will elect county officers. There will be some politics in this state this year. Hon. Allen W. Thurman shows himself a worthy son of the "Old Roman" when he says of the wool tariff: "The principal objection that I have to the tariff on wool is the same that I have against all tariffs, viz., that I do not see what right I have to compel others by law to assist me in my business." Mr. Thurman is himself an extensive woolgrower. Sargeant Conuty Item: North Dakota is sure to enjoy an era of prosperity next season. The effect of the past season's crop has been almost magical in the east and already preparations are being made to bring hundreds of settlers into the state next spring. Lieutenant Maxwell, of the United States army, says the Dakota climate adds to one's stature. When ordered to that country he was over twenty-one years old and had reached the age when growth is supposed to stop, but during a residence there of over a year he grew 3½ inches. Dakotans say the climate often has that effect.-El Paso Herald. It is thought the present congress may admit two more states, New Mexico and Arizona. That will leave only Utah, Oklahoma and the Indian Territory out in the cold. Lowenthal, Livingstone & Co. of San Francisco have failed, with liabilties of about $220,000.


Article from The Bottineau Pioneer, March 5, 1892

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Article Text

A decision was rendered recently by Judge Morgan in the case of Ward county against the First National Bank of Minot. The suit was brought to enforce the collection of taxes, amounting to about $2000. It was the bank's refusal to pay which caused the run on that institution some time ago. The bank alleged that the assessment was defective, in that the taxes were assessed against the bank, and not against