17662. First National Bank (Hot Springs, SD)

View Charter #4370 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
4370
Charter Number
4370
Start Date
July 8, 1893
Location
Hot Springs, South Dakota (43.432, -103.474)

Metadata

Model
gpt-5-mini
Short Digest
79171637cf73e1ba

Response Measures

Borrowed from banks or large institutions, Full suspension, Books examined

Other: A receiver was appointed after suspension (receivership), and receiver undertook asset realization and foreclosure actions.

Receivership Details

Depositor recovery rate
45.5%
Date receivership started
1893-08-17
Date receivership terminated
1897-10-28
OCC cause of failure
Losses
Share of assets assessed as good
54.5%
Share of assets assessed as doubtful
43.8%
Share of assets assessed as worthless
1.7%

Description

Contemporary articles report a depositor run and heavy withdrawals in early July 1893 that forced the First National Bank of Hot Springs, SD to suspend payment (closed doors July 7-8, 1893). Efforts to resume failed and a receiver was requested/appointed in August 1893 (receiver Alvin Fox appointed mid-August). Cause of the run/suspension is described as widespread financial stringency and withdrawals following the drop in silver / national panic, not a discrete false rumor or isolated bank-specific scandal.

Events (5)
1. July 15, 1890 Chartered
Source
historical_nic
2. July 8, 1893 Run
Cause
Macro News
Cause Details
Large withdrawals and a general run amid the national financial stringency and drop in silver prices; nearly $39,000 withdrawn in ~two months per cashier's statement.
Measures
Closed its doors / suspended payment; public statements by cashier appealing for patience and indicating intent to resume when funds could be realized.
Newspaper Excerpt
Recent withdrawals of deposits and a general run caused the break.
Source
newspapers
3. July 8, 1893 Suspension
Cause
Macro News
Cause Details
Inability to obtain ready cash on collateral and persistent withdrawals during the national money stringency; suspension initiated by bank after run depleted cash resources.
Newspaper Excerpt
The First National Bank of this city closed its doors yesterday. ... the bank was forced to suspend payment.
Source
newspapers
4. August 17, 1893 Receivership
Source
historical_nic
5. August 17, 1893 Receivership
Newspaper Excerpt
The controller of the currency today appointed Mr. Alvin Fox of Deadwood receiver of the First National Bank of Hot Springs, S. D.
Source
newspapers

Newspaper Articles (21)
1. July 8, 1893 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 8, 1893

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TELEGRAPHIC BREVITIES. Peary's [arctic ship Falcon nearly overturned in her berth at Custom house dock at Portland, Me., last night. Cardinal Gibbons arrived at Narragansett Pier, R. I., yesterday afternoon. He was escorted by Bishop Harkins, of Providence; Bishop Jas. A. Healy and others. The steamship State of Texas of the Mallory line of New York, is disabled and is drifting off the outer shore of Mount Desert Island, Me., with a broken propeller. President Barrios, the Dictator of Guatemala, has declared G. Santalana, a young Guatemalan inventor, a traitor to that republic, and death awaits him should he fall into the clutches of Barrios. The President's condition this morning remains about the same as last night. He goes about the house, at Buzzards Bay, Mass., and out upon the veranda and a gradual improvement is noticeable. The financial crisis through which the Duke of Veragua is now passing seems to have been caused in a great measure by speculation in Paris, the Duke having intrusted his money to another. Henry Merrill, who shot Jones Ellison, an old man of 60 years, on June 23rd, was found dead in a coffin near Wardner, Idaho, yesterday. He had evidently committed suicide by shooting himself. An exhibitor in the Italian section of the World Fair was arrested yesterday by agents of the Treasury for selling goods in violation of the customs laws. He was held to the federal grand jury in the sum of $700. Some time before daylight yesterday morning the safe in the office of a real estate dealer in Patchogue, L. I., was broken into and robbed of valuables to the amount of $20,000. There is not the slightest clue to the thieves. The Citizens' Bank, of Wenneconne, Wis., closed its doors yesterday. Its cashier, Varwacter, was arrested on the charge of receiving deposits after he knew the bank to be insolvent. He claims the bank can pay in full. Mgr. Satolli is investigating charges made by Catholic priests against Rev. Martin Marty, Catholic bishop of South Dakota. Last winter anonymous circulars were sent over the State charging the bishop with immorality, incompetency and sectionalism. The failure of Coffin and Stanton to take the $600,000 of the Indianapolis, Ind., refunding bonds has led to a serious complication, and the city treasis practically bankrupt, not a dolury the offilar being on hand even to pay cers' salaries or keep the several departments running. A terrific head-end collision occurred between Philadelphia and Erie freights, near Johnsonburg this afternoon. When the trains came together 2 engines and 18 cars were piled high as the telegraph poles. The engineer on the east-bound freight was killed; his head brakeman was orushed to death and his fireman was so badly bruised that he will die. The engineer, conductor, firemen and two brakemen of the West bound train, are seriously injured. John W. Flood, who was convicted of em$164,000 from the Donohue-Kelly bezzling SeaBank, was granted a new trial by Judge well at San Francisco yesterday. Bail was fixed at $50,000. The First National Bank of Hot Springs, S. D., closed its doors yesterday.

2. July 8, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 8, 1893

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BRIEF TELEGRAMS. Three hundred and ninety thousand ounces of silver will go out in one steamer today. Patrick Riley & Co., a leather firm in Newark, N. J., assigned yesterday afternoon. The assets are about $142,875 and the liabilities $200,000. A receiver was appointed yesterday for the heavy iron firm of Corrigan, Ives & Co., agents of twenty-four of the largest iron mines in the Lake 8 uperior region. Comptroller Eckles is informed that the First National Bank of Hot Springs, S. D., and the Livingston National Bank of Livingston, Mont., have closed their doora to business. A judgment was entered yesterday in the supreme court in favor of the First National Bank of Chicago against ex-Governor Campbeil of Ohio in a suit brought on a promissory note for $5000. A rule was yesterday granted to show cause why a receiver should not be appointed for the Bomerset Bank of Somerville. It has deposits of is quarter of a million, capital stock of a hundred thousand and a surplus of fifteen thousand.

3. July 8, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 8, 1893

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CRASH OF BANK Two Northwestern Institutions Close Their Doors. WASHINGTON, July 7.-Comptroller Eckels is informed that the First National Bank of Hot Springs, S. D., and the Livingston National Bank of Livingston, Mont., have closed their doors to business. Bank Examiner Diamond has been ordered to take charge of the Hot Springs bank, and Bank Examiner Flynn of the Livingston bank. RED CLIFF, Col., July 7.-The Eagle County bank has suspended payment. Its capital is $12,000, and its assets, which are estimated at $40,000, are considered worth 100 per cent. Liabilities, $38.000. The withdrawal of large sums on account of tne drop in silver was the cause. TRENTON, N.J., July ChancellorMeGill this morning grantedia rule to show cause why a receiver should not be appointed for the Somerset County bank, a state bank at Somerville. The bank's embarrassment is due to that of exCongressman Paddock, whose paper the bank carridd to the extent of b at $90,000. The capital stock of the institution is $100,000, surplus $16,000, and deposits about $25,000. DEDHAM, Mass., July 7.-0. E. Littleton, stock broker doing business in this place, has filed a petition in insolvency in the Norfolk registry at Dedham Center. No schedule of liabilities or assets was filed. NEW YORK, July 7.-A judgment was entered yesterday in the supreme court in favor of the First National bank of Chicago against ex-Gov. James E. Campbell on a promissory note for $5,000.

4. July 8, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 8, 1893

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TROUBLES OF WESTERN BANKS. Omaha, Neb., July 7.-The American Savings Bank. which closed on Wednesday night. was put in charge of a special examiner by the State Banking Board yesterday. The bank is believed to be solvent. The National Bank of Ashland, an offshoot of the American Loan and Trust Company, also failed. It had a capital of $100,000. Minneapolis, Minn., July 7.-The Bank of NewEngland assigned yesterday to Judge John P. Rea. as the result of a suit brought by the Attorney-General on behalf of the State, alleging that the bank holds a balance of State funds now on deposit. aggregating $81,331 17. which it is unable to pay. The assets are placed at $280,000. Pueblo, Col., July 7.-There was no further run on the First National Bank to-day. Bank Examiner Adams has taken charge of the suspended banks here. and will push the examination of their affairs as rapidly as possible. Pine Bluif, Ark., July 7 (Special).-The Arkansas State Bank. of Stuttgart, and the Arkansas Farmers and Traders' Bank, of Dewitt. near this city, have closed their doors. Neither institution had large assets and depositors will not suffer to any considerable degree. Both banks were under the same management, and the recent failure of the Stutigart and Kansas River Railway, of which T. H. Leslie, the father of C. K. Leslie, the cashier of the banks, was president, precipitated the collapse. Red Cliff, Col., July 7.-The Eagle County Bank has suspended payment. Its capital is $12,000 and its assets, which are estimated at $40,000, are considered worth 100 per cent. The liabilities are $34, 000. The withdrawal of large sums on account of the drop in silver was the cause. Washington, July 7.-Controller Eckels is informed that the First National Bank of Hot Springs, S. D., and the Livingston National Bank of Livingston, Mont.. have closed their doors to business. Bank Examiner Diamond has been ordered to take charge of the Hot Springs bank. and Bank Examiner Flynn will take charge of the Livingston bank.

5. July 9, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 9, 1893

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South Dakota Bank Suspends. (By telegraph to the Dispatch.} Hor SPRINGS, S. D., July 8.-The First National Bank of this city closed its doors yesterday.

6. July 13, 1893 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, July 13, 1893

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BUSINESS EMBARRASSMENTS. Assignment of the Kansas City Safe Deposit and Savings Bank. KANSAS CITY, Mo., July 11.-The Kansas City Safe Deposit and Savings bank, one of the largest institutions of the kind in Missouri, assigned to-day. The statement places its assets at $2,000,000; liabilities, $1,700,000. The bank was capitalized for $300,000. Its president is J. C. Darragh. It is asserted by the officers that they will be able within 30 days to pay all obligations in full. The bank will go out of business after winding up its affairs. First National Bank, Hot Springs, S. D. Hor SPRINGS, S. D., July 11. - The First National bank of this city has been forced to close its doors. Recent withdrawals of deposits and a general run caused the break. It is thought they will be able to resume in 30 days.

7. July 13, 1893 Reporter and Farmer Webster, SD
Article from Reporter and Farmer, July 13, 1893

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CLOSED ITS DOORS. Hot Springs, S. D., July 10.-The First National bank of this city was forced to close its doors. Recent withdrawals of deposits and a general run caused the break. They have on deposit $120 of county money, $400 of the school distriet building fund and some city money. It is thought the bank will be able to resume in thirty days. The failure will not affect the new school house building as most of the building fund is with the Omaha National bank. The deposits are mostly small amounts and depositors are not worried over the outcome.

8. July 14, 1893 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, July 14, 1893

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trict has a balance of $4,000. While these amounts are temporarily tied up we do not believe there is any uneasiness as to the outcome. EXPRESSIONS OF CONFIDENCE. W. J. MAGOWAN have 80 much confidence in the First National Bank that I will take checks on the bank at full value in payment of accounts, and if had $5,000 they could have it. F. c. SILKENSON:-I don't think it really half as bad as some people are making it. C. G. FARGO:-The bank is all right and every depositor will get every dollar he has in it. L. S. CULL:-Prevalent hard times and inability to realize on their paper are the causes, and I feel confident they will resume and pay deposit ore in full. M. C. BARNES:-I am sorry about it. I have quite an amount in there, but have such confidence that 1 wish it was $10,000. C.E. SAWYER:-I feel that they can't be in very bad shape and am certain that they will resume in a very short time. WILL CRANE:- I believe they will be running again in ten days at least. E. B. WARREN:-It depositors will only be patient I have no doubt but that they will get 100 cents on every dollar. G. A. FIELD:-Ithink thebank will resume. E. ELSEY:-I a Borry to see it, and hope it can resumeinashort time. FRANK BENTON:-If had $10,000 it would go into the First National to-day. President Englesby of the Minnekahta State bank assures us that the securities of the First National are gilt edge and just as soon as it is possible to realize money on any kind of collateral the bank will be able to pay its depositors. There are very few depositors in our bank at present and it will no doubt weather the fright al right. Eart Hare went to Kansas City last night to take a position that will require his attention until Sept. 1. Some forty or fifty farmers haveappeared before the county board of equalization to have their assessment reduced. The chair of Greek in Black Hills College, Prof. Maynad's place, will be filled by Prof. Myers of Baker university of Baldwin, Kas. The school board will hold a meeting on Friday evening of this week, to allow the mid-month estimate and take action concerning the building. P. O. Lancaster wili take the road next week in the interest of the Baker Plaster company, and more especially to introduce their manufactured stone which is becoming so popular. It is a new thing and looks very pretty. Prof. Maynard left for Sac City, Ia., Friday, where he had a call to the M. E. church of that place. The family made a great many warm friends during their residence here, who will wish them success and happiness at their new home. The matter of appointing a receiver for the Catholicon company was virtually decided in favor of the defendants by Judge Thomas last evening. He made an order, however, requiring Mr. Eastman to put up a $2,500 bond that he would turn in all the receipts and profits of the company in the hotel and spring to the court every three months, that it might be justly distributed toward the liquidating of the indebtedness and the satisfaction of claims. The recent gold finds by some of our people near Hot Springs, an account of which was published in the STAR yesterday, has created considerable excitement and this morning James Lessard took out the following party to the region of the finds: Chas. S. Buck, R. R. Ream and Jno. P. Reynolds. They will remain four or five days or a some prosand pecting week locating. and will the do The first of Koker the brothers will go out week and commence the work of putting in a ten stamp mill. We hope they may all strike it rich. Another Victory...

9. July 14, 1893 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, July 14, 1893

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A PANICKY DAY. The First National Bank Closes Its Doors. Financial Stringency of the Times. and Want of Confidence by Depositors the Cause. a Will Doubtless be Reopened in Short Time and Depositors Paid in Full. STATEMENT FROM THE CASHIER. Nothing has ever stirred the city of Hot Springs from center to circum- of ference like the closing of the doors the First National bank last Friday. The news of the event cast a gloom over the town that was ominous. While the reports coming daily from points throughout the country of the failures of banks gave matters a serious aspect here, it was hoped that the confidence of the people in our local institutions would forestall a run being made by depositors. But the hope was vain and the First National was forced to suspend payment. The recent statement of the bank shows that its resources are ample to cover all liabilities. but inability to procure ready cash upon collateral that at any other time would be regarded as "gilt edge," has brought about this unpleasant state of affairs. The following satement from Cashier Parks explains the situation very fully: TO THE CITIZENS OF HOT SPRINGS:This issue of the STAR will contain the somewbat startling announcement of the closing of the doors of the First National Baok of this city, and having acted in the capacity of cashier since few its orgination 1 beg to submit a facts to our people touching upon the causes leading to his unfortunate condition. Briefly stated, the direct cause a of the closing of our doors is due to systematic and persistent withdrawal The of deposits since the 1st of May. bank having lost on deposit account over $32,000, and we were compelled to pay to our eastern correspondents from whom we had borrowed money, $7,000. making the total reduction in our liabilities up to date (in about two months) of $39,000, more than 50 per cent of our deposits during this short period. This we could have withstood had it not been that financial matter have been and are now in the most deplorable condition that this country has witnessed since 78. if not worse than at that time. We as a bank, and our president especially so, have used every effort within our power to raise money with which to tide us over until times get better, but without success as we have by actual experience learned that today it is practically impossible to borrow a singledollar kind of security, and just as imany possible to collect a dollar from those who are owing the bank, regardless of the security we hold against such loan: therefore after we had made the best efforts within our power, to raise money outside of our own vicinity, where it was, as I have said before, an immpossible thing to do, and seeing our cash resources fast going out, without a semblance of let-up in its of course, and the further endurance alarm yesterday afternoon, in some of most trusted friends in withdrawour ing their deposits. which assumed, sized before we closed at 4 o'clock, a good healthy run, there then seemed nothing for else for us to do but close our doors, the present at least, until we can will realize on our paper. No depositor lose a cent by our closing, and I trust they will not be inconvenienced but a short time by reason of the suspension. It has ever been the policy ef this bank to promote the interests of our beautiful little city, and it is a source of gratification to me of the seen much evidences appreciation to have of some of our citizens who have come this to me personally to speak to me in spirit since our doors were closed this morning. We hope our friends will support us in our efforts to re-instate this bank in the confidence of the people, and I feel quite sure that the result will justify their patience. J. F. PARKS, Cashier. Depositors generally take the matter very philosophically, and express the confidence in the business in a very suming greatest Bradley short bank's had time. re- a County Treasurer the bank. of

10. July 14, 1893 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, July 14, 1893

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ABOUT BANK DIFFICULTLE. The Spearfish Bulletin in commenting on the failure of the First National bank at this place makes the following sensible remarks: "It is not only a misfortune to Hot Springs but to the entire Hills country, to have the news sent broadcast that any trouble exists in banking circles. So far the Black Hills banks have, with the exception of a little flurry at Rapid City, withstood the financial depression in excellent shape. Probably there is not a bank in the Hills today that is not in good shape, but it is also true many of them could be wrecked by some senseless gossip-monger starting a rumor regarding their condition, as was the case with the First National at Hot Springs. Such rumors are usually started by some person whose deposits are little or nothing, but who have a faculty of alarming the heavy depositors as well as the small ones. The power of such persons to injure reputable institutions is incalculable." It is indeed strange and most surprising that men who are generally regarded as possessing good business sense should gloat over the failure of a bank, or any business institution in their midst. Yet we regret there are some such men in Hot Springs-men who daily express their delight over the suspension of the First National bank, and who are doing their utmost to prejudice the minds of the people against its solvency and inability to re-open. If such individuals have any friends they should use their influence toward stopping such injurious slurs upon our city. No legitimate business institution can be defamed in these times without injuring the town, and we cannot forego the opportunity of expressing our disgust with such people. We believe the First National will open its doors soon, and every reasonable, sensible person will rejoice thereat.

11. July 15, 1893 Custer Weekly Chronicle Custer, SD
Article from Custer Weekly Chronicle, July 15, 1893

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First National at Hot Springs Fails. A ripple of the great wave of financial disaster which has been sweeping the country reached the Hills on Friday morning of last week, when the First National Bank of Hot Springs closed its doors. A few hours later Cashier Parks made a public statement to the effect that the closing was the result of the withdrawal of deposits, and the inability of the bank to immediately convert its securities into cash. The bank officials claim that their securities are first class, that depositors will be paid one hundred cents on the dollar, and further that the bank will be opened again in a short time. During the sixty days preceding the failure nearly $40,000 in deposits had been withdrawn, and with no prospects that the run would cease, the suspension was inevitable. The bank had $20,000 of city, school and county money on deposit, and it is hinted that the recent judgment of the court, compelling the county treasurer to honor the large warrants held by Fred Evans, had something to do with the failure. A run was made on the Minnekahta State bank the same day the National went under, but it weathered the storm.

12. August 11, 1893 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, August 11, 1893

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A Receiver for the First National. The STAR man called upon Bank Examiner Diam nd Wednesday at the First National to ascertain the outlook for resumption. Mr. Diamond regretted very much to be compelled to announce that owing to the continued stringency in the money market it had become absolutely impossible for the First National to resume, and he had therefore been forced to ask for the appointment of a receiver. This is serious news for our people, and while it will probably not affect the the town in any material manner. the breaking down of one of its leading financial institutions is a deplorable matter. Mr. Diamond has exerted himself nobly in behalf of the resumption ot the bank, and the people of Hot Spring greatly appreciate his efforts. Ho.. truly a Diamond.

13. August 12, 1893 Custer Weekly Chronicle Custer, SD
Article from Custer Weekly Chronicle, August 12, 1893

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The First National Bank of Hot Springs has 80 far been unable to resume and a request for the appointment of a receiver has been made. This turn in the affairs of the institution is a great disappointment to the citizens of the Springs. On Saturday, the 5th inst., V. E. Prentice, the well known real estate dealer of Hot Springs, made a voluntary assignment to E. C. Canaldson, of Madison, Wis., and H. W. Carter, of Chicago. His assets are estimated at $37,599, and his liabilities at $59,474. A meeting of the Black Hills wheelmen will be held at Deadwood to-morrow for the purpose of organizing a wheelemen's association. If a strong and prosperous organization can be effected it is very likely that a tournament will be arranged for some time this fall. The preliminary examination of Geo. Whittecar, the young man who was charged with the larceny of a satchel and contents, owned by Oscar Jacobson, occured before Justice Wells in the office of the states attorney, on Friday afternoon of last weeks. After the examination of several witnesses the case was dismissed upon motion of the defendant's attorney, H. D. Reynolds. A letter written by Jos. E. Pilcher, at Chicago, to his brother, C. W. Pilcher, of this place, states that the directors of the world's fair have re-instated J. H. Thornby as squad inspecter, and that his pay was continned from the date of his suspension. Mr. Thornby's Custer friends will be pleased to know that he was not made to suffer for doing his duty. A rumor comes from the stock ranges north of the Hills to the effect that Stevenson Bros., well known stock men, have been ordered to leave the country if they value their lives. It is said that this firm is regarded with suspicion by the other stockmen of that section, and that last Saturday night a mob of men in disguise waited upon them, and imparted the information alluded to above. The last report received was that the Stevenson's were packing up and preparing to move out. Judging from the newspaper accounts of this years assembly of the Black Hills Chautauqua, it has been no more of a financial success than it was last year, and there are prospects that the next meeting will not be held at the Springs. The citizens of that place are making a great effort to make up the deficiency, and the Chautauqua management has appointed a committee to investigate and report upon the advisability of removing the headquarters of the organization to some other Black Hills point. F. E. Johnesse, who went from this place to Hailey, Idaho, several months ago, writes his Custer relatives that he has invented an improved valve for use on a. steam engine, and he has made as fortunate disposal of a one-third interest in it. Hailey parties are the purchasers. They pay him one thousand dollars down, and put up the cash to pay the expenses of a trip to the east where and the

14. August 17, 1893 Evening Star Washington, DC
Article from Evening Star, August 17, 1893

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Receivers Appointed. The controller of the currency today appointed Mr. Alvin Fox of Deadwood receiver of the First National Bank of Hot Springs, S. D. He also appointed Mr. Sterling R. Cockrill receiver of the First National Bank of Little Rock, Ark., in place of Mr. David Armstrong, resigned.

15. August 25, 1893 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, August 25, 1893

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A Receiver Appointed. Bank Examiner Diamond received word Friday of the appointment of Alvin Fox of Deadwood as receiver for the First National bank of this place. Mr. Fox was formerly cashier of the Merchant's National bank of Deadwood and has been interested in tinancial institutions in the hills from their earliest history. It is understood that his appointment came through the IIIfluence of Col. Steele, who was in the city a few days since.

16. September 29, 1893 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, September 29, 1893

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CHATTEL MORTGAGE SALE. Default having been made in the condition of & certain chattel mortgage bearing date the 3rd day of December, 1892, executed and delivered by C. c. Chambers as mortgagor, to the First National bank of Hot Springs, S. D., mortgagee, to secure one certain promissory note of two hundred and sixty-eight dollars and sixty cente ($268.6 dated December 2nd, 1892, payable four months after date and demand of the performance of said. condition having been duly made of the mortgagee, which was refused, I have taken possession of the personal property described therein, to-wit: One black stallion 8 years old, weight about 1,000 pounds, named Prince, no brand; one sorrel horse 9 years old, weight about 1,100 pounds, branded (2) on left shoulder, named Selum: one large, light red cow, star in face, short tail; one light roan cow branded U & on left hip: one black mare colt one year old, white spot in forehead, and one calf. The debt secured by said mortgage is $268.60 with interest at 12 per cent per annum from the maturity of said note and an attorney's fee of $5.00 in care of foreclosure, of which amount the sum of $285.15 is claimed to be due at the date of this notice by reason of default having been made in the failure to pay said amount when due as stipulated in and by said mortgage. Notice is hereby given that by virtue of the power in said chattel mortgage contained and in pursuance of the statute in such case made and provided an 1 by order of receiver of said First National bank, mortgagee, and the present owner thereof. I will sell at the front door of the court house in Hot Springs, in Fall River county, 8. D. on the 7th day of October, 1898, at 2 o'clock p. m. at public auction to the highest bidder for cash the said personal property, or so much thereof as may be necessary to pay the debt secured by said mortgage, and interest and reasonable expenses, unless the same is sooner redeemed, as provided by law. Dated at Hot Springs, South Dakota, this 25th day of September. 1893. FIRST NATIONAL BANK of Hot Springs, Mortgagee. By ALVIN Fox, Receiver. L. S. CULL, En. W. BLAKEY, Sheriff and Auctioneer. Attorney

17. November 3, 1893 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, November 3, 1893

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A Short Reply to the Herald. In consequence of the feart financial stringency in money matters, not only in Hot Springs, bu throughout the United States, the First National bank of Hot Springs was compelled to close its doors. Not only was this bank compelled to close. but many hundred other good banks were closed all over the country. No man or woman who has a dollar in the First National bank will ever loose a cent of it. It is only the trouble and inconvenience consequent upon such great financial troubles as has taken place throughout the entire nation that makes it disagreeable. The condition of the bank since its close has been examined by Hon. John E. Diamond, National Bank Examiner: by a committee of our best citizens, none of whom were connected with the bank; and Col. Alvin Fox, the present receiver. all of whom found the assets in good condition. This should settle the question of the banks condition. BONDS. To approve or disapprove of bonds is a matter of frequent occurrence, not only with Judge Gardner but with every judge in the country. If Judge Gardner had refused to approve the bond would not every intelligent, unprejudiced citizen in the county say he had done wrong ? If Bradley's bond with the names thereon as security had not been taken what bond would be? for it embraces nearly one sixth of the valuation of the entire county. The editor of the Herald must he ressonable if he expects to influence many votes of this county. The Herald appears to be dissatisfied because Judge Gardner approved the bond of Mr. Bradley. If be is really dissatisfied he should give better reasons than he has, otherwise his objections must fall to the ground. And now for the facts: Mr. Bradley presented a bond to the county commissioners in the sum of fifty thousand dollars with Edmund Petty, W. P. Phi!lips, C. G Fargo, A. S Stewart, et al. which the commissionere failed to approve. According to the assessment as equalized by this same board of county commissioners four of the bondsmen are assessed as follows: E 'mund Pettv $ 89,892 00 W.P. Phillips 28,606.00 C. G. Fargo 71,800.00 A. S. Stewart 72,876.00 66 " half interest in Cascade 32,885.00 Total $240,059.00 Remember this is on the assessment roll. Now Mr. Herald if you Lad offered a bond under the same circumstances would you not have appealed to the court? and If he had not approved the bond what would have been your opinion Could the judge, or any other honest man, have done otherwise? We are here, I hope, to build up Fall River county and Hot Springs, and we cannot afford to tear down unnecessarily any enterprise in our midst nor to injure any individual who has the interests of our people at heart. Stop this everlasting snarl, and work together for the common good of Fall River county, and lend a word of encouragement to everyone who will assist in the A. S. STEWART. eommon good.

18. December 14, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, December 14, 1893

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Suit Against Receivers. Special to the Globe. HOT SPRINGS, S. D., Dec. 13.-District Attorney Chambers Keller has brought suit on behalf of Fall River county against R. K. Fox and John L. Burke, receivers of the First National and Minnehaha State banks respectlively to compel them to declare the sum of $19,000, which the county had on deposit at the time of the bank failure, a trust fund to be paid in full before any distribution to creditors is made. Comptroller Eckels is of the opinion that the suit cannot be maintained.

19. May 25, 1894 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, May 25, 1894

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From Thursday's Daily. Pete Franzen over from Edgemont doing a little courting. George Turner has moved into bis big house on Jennings avenue again. Mrs. Knott has taken a position in Crane Bros store and makes an excetlent saleslady. Frank Benton left last night for southern Colorado and Oklahoma to buy more cattle. W. A. Wheel aas made a score of abstracts for property near Edgemont in the last few days. Col. Clough came down from Deadwood last night on business connected with the soldiers' home. Ex-Commissioner Wood Craven is in the city on business. Me says the Lady Gay is right "in it." Fred Noremberg, the-genial heat of the Ca-cade hotel, is a visitor in the city today. Hitching posts have been put in op posite the Presbyterian church for the benefit of those who come to service with teams. Jimmie Stark, the well known old soldier who saws wood, has received notice that his pension claim has been allowed and he is as happy as a boy with copper-toed boots. The Ladies Aid society of the M. E. church will meet with Mrs. L. K. Moore on Wednesday afternoon, May 30, at m. All members are urged to be present. MRS A. W. MAGOWAN. W. H. Johnson IS over from Edgehand in a a mont sling, this morning caused by carrying mule bis kicking him. He says work on the big irrigating ditch is progressing rapidly. Miss Potts and a lady friend had a narrow escape from serious accident yesterday afternoon by being thrown from their horses while out borseback riding. They were fortunate in being only slightly bruised. Mrs. Fred P. Baker and daugbter, Miss Grace, arrived from Constantine, Mich. this morning and at once commenced arranging their home on "Mt. 0-lymp-us as Mr. Baker calls college hill. They are pleased with what they have seen of our city. Harry Hare returned from Minneapolis this morning to take part in the commencement exercises in Black Hills college, from which he graduates this year. His host of friends are glad to see him, and so much improved in health. C.D. Bailey received a letter from Kaneas this morning saving that bis crop of winter wheat with that of others in that vicinity had been killed by as it was are it heading frost, out. which Farmers caught it just cutting and burning it, plowing up the land and planting it in corn. Fred. T. Evans, J. B. Dickover, J.L. Baker and John Perkins of the Sioux City Journal took the B. & M. for Mystic this morning to investigate the Cutty Sark gold claims recently purchased by Messrs Evans & Dickover. Mr. Dickover recently sent some of the concentrates to Deadwood for treatment which yielded $600 per ton. The owners are over erty a and think much they elated have big the thing. propMr. William C. Stanisby, examiner of receivers of national banks, comfor pleted left over his the work Burlington here yesterday Denver. and In conversation with a STAR representative Mr. Stanisby stated that while collections had been very slow and creditors of the First National bank are getting uneasy by reason of the slow payment of dividends he considers that the affairs of the trust have been managed very judiciously by Mr. Fox and that the ensuing year, if favorable, will see the creditors largely if not fully satisfied. The base ball boys got together last evening and organized a club and 30th form expect when they to practice hope they daily will until be the in to make it interesting for the soldiere from Fort Robinson. They bave had their a car will friends word that haye the chartered soldier boys and and come to play for half the gate receipts

20. May 25, 1894 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, May 25, 1894

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From Saturday's Daily. Alva Magowan has built an addition to his residence. Al. Hora came down from Deadwood last evening to attend court in which he has a case to be tried. Neely Parsons is in the city and reports the coal prospects brightening with every foot deeper into the mountain he goes. The program for Decoration day services has not been furnished by the committee as yet. There will probably be a game of ball, however. W. C. Stainsby, a special 'examiner for receivers of national banks, is in the city looking over the work of Receiver Fox, of the First National bank, and will remain over Sunday. He resides at Newark, N. J. The B. & M. will sell tickets one fare for the round trip to the Black Hills Pioneers' pienic at Spearfish on June 7 and 8, and to Deadwood on the meeting of the Knight Templars' commandery on the 15th and 16th. The people of Oelrichs want to be connected with telephone to the county seat and have offered to furnish poles and set them as far as the Cheyenne river. They could only gaurantee one instrument at present, but think there would be more taken in the near future. A. H. Bacon, brother of H. E. Bacon, came in from Cincinnati, Ohio, yesterday, and will perhaps locate in this county. He is suffering from rheumatism and partial paralysis, and will take baths in the hope of being cured. The Minneapolis Journal is authority for the statement that it is conceded that Hot Springs will secure the next grand lodge of Odd Fellows. Three cheers for Johnnie Richer, and Benedict, who will make a long and a short pull for it, Robt. Buchanan is building a pretty little house to be placed in Evergreen cemetery for storing tools, plats and other property. A new bridge is to be built across the gully just this side, the road fixed up generally, water taken up by a hydraulic ram and many other improvements made. Our enterprising merchant, E. Elsey has concluded to open a branch house at Edgemont to be known as the Bargain Store. H. W. Mattley has gone over and is fixing up the room for the reception of the goods which have been ordered. The STAR wishes the new venture success. J. W. Martin, who has spent the winter in Florida, returned to Hot Springs yesterday. He IS looking well f and says he has spent a very pleasant winter. He will not occupy his house here this summer but will divide his time between this place and Deadwood staying most of his time with his son, E. W., at Deadwood. It has been decided to hold the a Memorial day exercises in the Chaud tauqua grounds, and arrangements are being made for putting up a flight of steps from the grounds to the cemetery, just above to remain there permanently. This will enable those who care to decorate the graves of the heroic dead, to get there without so much effort. The Burlington route is doing a e great deal to advertise Hot Springs this summer. To their agents at all stations they have sent a circular letter stating that "Hot Springs, South g Dakota, is the greatest health and pleasure resort in the west. It has excellent hotels, bath houses and plunge baths. Its surroundings are exceptionally pleasant. Its climate, all the year round, is all that can be desired. Its healing waters are equal, if not superior, to any in the country. n Last, but not least, it IS easily reached. During the coming summer we will make a vigorous effort to bring these facts to the attention of the traveling public. A well written and beautifully k illustrated folder descriptive of Hot Springs is being printed and will be d ready for distribution inside of ten n days, copies of which will be sent to any address on application. The local papers along the line will be furnished

21. August 10, 1894 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, August 10, 1894

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From Thursday's Daily. R. F. Connor went to Rapid this morning. A New sidewalk is being laid in front of Dudley & Sawyer's real estate office. Rev. Baker's subject for Sunday evening's service will be "Counting the Cost." A man by the name of Haltener of Gayville, suicided by cutting his throat yesterday. Chris Meyer went down the Cheyenne today to lay in a stock of good beef cattle. The Evans has a new inside steward, named Mateede, of Omaha, where he was for years employed by the Millard. The Elkhorn train came in loaded with guests this morning, many of them Chicago people who will stay some time. J.J. Jones formerly of the plunge, is driving the bath wagon for the Minnekahta bath, and hopes to have his new outfit the last of the week. A little shower of rain last night refreshed things wonderfully. It extended down the line into Nebraska and was heavier at Chadron than here. The new receiver of the First National and Mr. Shurts have commenced the examination of the affairs of the bank and have found nothing irregular so far. Miss Olive Jones, of Plattsmouth, Neb., cousin of the Magowan brothers, arrived yesterday morning, and will visit her relatives in the city for a few weeks. Walter Anderson will remain in Deadwood for a week fixing up the affairs of the tournament. The boys say the Deadwood girls have him corralled. Charley and Harry Stewart, Lloyd Boomer and Harry Calhoun returned yesterday afternoon from their overland trip to Deadwood. They report a big time. Mrs. H. T. Catlin writes her husband that her sister's little child is getting along nicely. Mrs. Catlin will be joined by Karl in a few days and they will make a trip to Omaha. Mrs. E. J. Godfrey, mother of Frank and Mrs. M. C. Barnes, is here from North Platte, Neb., to spend a month visiting her children. She reports no crops in western Nebraska. The stock season has opened up in earnest. Division Freight Agent Harmon of the Elkhorn says they shipped 100 cars in the last two days from the west end and fully as many from the north end duriug this week. They look for the heaviest shipments they have ever had, this year. Prof. E. H. Barbour of the University of Nebraska, and his family with Messrs. Everett and Rowe of Lincoln who constitute the remnant of the geological expedition from that institution to gather fossils in the Bad lands, returned here last evening. They will remain several days taking in the attractions of the city. Company C. Eighth U. S. Infanty who have been guarding the Union to Wyo., Pacific against railroad the interests strikers, at returned Evanston, their quarters at Ft. Robinson last night after having spent three weeks roughing it in that country. The other companies of the 8th station at Rawlins and other points will return tonight. Hot Springs does not fully realize how big a crowd of sportsmen will be here to attend the shooting tournament. The event has been thorougly advertised, and on our trip to the west we found people in almost every town talking about it and making ready to send representatives. It will bring hundreds of people here who will spend their money freely. Ed. Moore and family and Mrs. Wood and Claire returned from their week's outing in the Casper mountains this morning. They report a most delightful trip and all look tanned and rugged. They report abundance of game and mountain trout, and would have brought more home with them but for the difficulty in bringing it through this hot weather. They will not soon forget their pleasant experiences. A very pleasant party was given at the Gillespie last night which was greatly enjoyed. The following guests took part: Mrs. Eugene Kennedy and the Misses Denny of Chicago; Mesdames Grace Taylor, Patterson Emma and McElroy, Dean and Maudie Misses Hunter, Maud Roberts, Stella Haley