12625. Towner State Bank (Towner, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
*
Location
Towner, North Dakota (48.346, -100.405)

Metadata

Model
gpt-5-mini
Short Digest
6ee63c5b

Response Measures

None

Description

The articles (Nov 1916) refer to O. J. Bagley as receiver for the Towner State bank, indicating the bank had been placed in receivership and remained closed. No article text describes a depositor run; evidence is of suspension/receivership (government action). Exact dates of suspension/receivership are not provided in the excerpts.

Events (2)

1. * Receivership
Newspaper Excerpt
O. J. Bagley, receiver for the Towner State bank, T. J, Tonner, cashier of the same, all testifying to accounts carried for the Casselton institution.
Source
newspapers
2. * Suspension
Cause
Government Action
Cause Details
Bank had a receiver appointed (mentioned as 'receiver for the Towner State bank' in trial testimony).
Newspaper Excerpt
O. J. Bagley, receiver for the Towner State bank, T. J, Tonner, cashier of the same, all testifying to accounts carried for the Casselton institution.
Source
newspapers

Newspaper Articles (2)

Article from The Fargo Forum and Daily Republican, November 14, 1916

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Article Text

Tell Seven Witnesses of Business Methods In Casselton Bank Further attempts by the government 000 turned over to the bank by the Frank Lynch Co. for investment. to show up the alleged inconsistency in the business methods of R. C. and Representatives of corresponding banks yesterday testified that the First W. F. Kittel, both of Casselton, chargNational bank of Casselton did not ed with embezzlement and falsifying have amounts to its credit as shown of accounts in connection with the affairs of the First National bank of by the books in that institution. J. L. Wire, attorney for the City that city, were continued in federal National bank of Chicago, testified court before Judge C. F. Amidon this that the First National bank of Casselmorning. Seven witnesses, all of whom testiton had no credits with his bank, while the bank's books showed $25,000. His fied to their business relations with the First National bank, and the testimony was corroborated by George L. Weiss of the same institution. Northern Trading company through F. W. Gann, cashier of the First Nathe Kittel brothers, were put on the tional bank at Watertown, Wis., testistand. The eighth, R. T. Torrence, fied that the Casselton bank had no bookkeeper, for the Frank Lynch Co. credit with his institution, and had not at Casselton, was put on the stand shortly before the adjournment for had for nearly six years, though the luncheon, his examination to be conbank's books showed a credit of $6,000. tinued this afternoon. Others to testify were C. O. SimT. J. Cummings of Towner, J. G. mons, cashier of the Grandin State Robertson of Rushford, Minn., Dr. W. P. Baldwin of Casselton, M. A. Grombank, O. J. Bagley, receiver for the mesch of Casselton, Gustav Schur of Towner State bank, T. J, Tonner, cashier of the same bank. Their testiArthur, Otto Werner of Davenport, mony also related to credits. and R. D. McKonn of Atlanta, III., were those to testify, their testimony R. S. Wilson of Boston, Mass., was on the stand when court adjourned for relating to the handling of farm and real estate loans, and renewals. the afternoon. His testimony related to loans he had made in this state, Through Mr. Torrence's testimony an attempt is being made to trace $15,and handled through the Kittels.


Article from The Weekly Times-Record, November 16, 1916

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Article Text

Damaging Testimony Features Kittel Trial Fargo, Nov. 14.-Several witnesses from points as far east as Boston, Mass., were on the stand yesterday in the trial of R. C. and W. F. Kittel, president and cashier respectively of the First National bank of Casselton, which closed its doors Dec. 6, 1915. They were called by the prosecution, most of them for the purpose or showing the standing of accounts of the defunct institution with various banks. L. E. Correll, who had been on the stand since Friday noon, concluded yesterday morning. His testimony consisted mainly of identifying records and entries in the books of the Casselton bank of which he was cashier. J. L. Wire, attorney for the City National bank of Chicago, testified that the bank which he represented had no credit for the First National bank of Casselton at the time the books of the defunct institution showed that it had deposits totalling $25,000 in the City National bank of Chicago. Geo. L. Wiess, also of the City National bank, likewise testified. Geo. L. Ratt, bookkeeper for the Drexell State bank of Chicago, testified to the same effect. C. C. Boyen, of the First Security bank of Minneapolis, similarly testified the closed bank did not have credits at his institution as its books showed. F. W. Gann, cashier of the First National bank of Watertown, Wis., declared the First National bank of Casselton had had no account at his bank for six years when, on Aug. 1; 1914, it is charged, defendants had made a sworn statement that their bank had $6,000 due it from the Wisconsin institution. other witnesses called by the prosecution yesterday were C. O. Simmons, cashier of the State Bank of Grandin; O. J. Bagley, receiver for the Towner State bank; T. J. Tonner, cashier of the same, all testifying to accounts carried for the Casselton institution. R. S. Wilson, of Baston, Mass., was on the stand when court adjourned. His testimony related to loans he had made in the state and handled by the defendants. Judge John Carmody, assistant district attorney, conducted the examination yesterday for the prosecution, District Attorney M. A. Hildreth not having entirely recovered from his indisposition of Saturday. He is able to be present in the court room, however.