17694. Bank of South Dakota (Madison, SD)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 11, 1890
Location: Madison, South Dakota (44.006, -97.114)

Metadata

Model: gpt-5-mini
Short Digest: 7b142e332179aa37

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (Jan 11–12, 1890) report the Bank of South Dakota at Madison 'assigned to M. W. Daly' with books 'in bad shape' and assets about $150,000. There is no mention of a depositor run; the bank was assigned (receiver/assignee) and therefore failed/closed. Date taken as 1890-01-11 from the dispatches. OCR typos corrected (e.g., 'Madeson' -> Madison).

Events (2)

1. January 11, 1890 Receivership

Newspaper Excerpt: The Bank of South Dakota has assigned to M. W. Daly. The assignee is engaged in looking over the books, which are in bad shape, learning how the concern stands.
Source: newspapers

2. January 11, 1890 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank assigned to an assignee (M. W. Daly) due to insolvency/bad books; assets claimed $150,000; liabilities unknown.
Newspaper Excerpt: The Bank of South Dakota has assigned to M. W. Daly. The assets are claimed to be $150,000; liabilities unknown. The assignee is engaged in looking over the books, which are in bad shape, learning how the concern stands.
Source: newspapers

Newspaper Articles (12)

1. January 11, 1890 Rock Island Daily Argus Rock Island, IL

Article from Rock Island Daily Argus, January 11, 1890

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ABBREVIATED TELEGRAMS. Fire losses at Chicago during 1889 foot up $2,251,471.91, which is $800,000 more than for 1888. Hobbs, Glidden & Co., of Boston, dealert in building materials, have failed with liabilities of $150,000. Rachel Dee, of Danville, Ills., charges her husband, Anderson Dee, with having another wife at Williamsport, Ind. The Bank of South Dakota, at Madison, S. D., assigned Thursday. Assets claimed, $150,000; liabilities. not given. Nelson's jewelry store at Mandan, N. D., was robbed Friday at noon of $600 worth of watches and rings. The proprietor was at dinner. Col. J. G. Stowe, of Kansas City, was attacked by footpads Thursday night, but he used his cane so vigorously that his assailants ran away. A petition has been filed in the Indiana supreme court asking that the case against Chicago dressed beef, recently dismissed, be reinstated on the docket. United States District Judge Foster, at Topeka, Kan., refused to receive the evidence of "spotters" Friday in liquor selling cases unless corroborated by other testimony. The First National bank of Chehalis, Washington, capital $50,000, and the Hazleton, Pennsylvania, National bank, capital $100,000 have been authorized to begin business. In the international chess congress now in progress at Havana, Cuba, a game between Tschigorin, the Russian champion,and Gunsberg required seven hours to finish. Gunsberg won. It is said at New York that a combination of Pennsylvania oil producers is preparing to build a new pipe line between the oil fields and the coast, in opposition to the Standard Oil company. Safe-breakers made a raid on the safe of Selz, Schwab & Co., at 190 Franklin street, Chicago, early Friday morning and got away with about $500 in cash. The work was done by experts. W. H. Bennett, who moved several years ago from Sterling or La Salle, Ills., to Council Bluffs, Ia., is in trouble because he is sweet on a woman other than his wife. In fact, he has fled with the other woman. The "Lucy" furnace at the Carnegie works, Pittsburg, exploded Friday, instantly killing Michael Welsh and seriously burning with molten metal Thomas Welsh, Thomas Summerlee, Henry Skilford, John Quigley, Michael Morrissey, Martin Summerlee, Henry Shilkin, and James Duffee. Hollanders who want to send watches and jewelry by mail to their friends in the old country are notified that they had better save their money. Such articles are dutiable in Holland, and the authorities there simply throw them into a pile until enough has accumulated, and then put them in a machine and pound them to pleces.

2. January 12, 1890 New-York Tribune New York, NY

Article from New-York Tribune, January 12, 1890

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FAILURE OF THE BANK OF SOUTH DAKOTA. Madison, S. D., Jan. 11.-The Bank of South Da. kota has assigned to M. W. Daly. The assets are claimed to be $150,000, liabilities unknown. The assignee is engaged in looking over the books, which are in bad shape, learning how the concern stands. The assignment of the bank forced the La Belle Ranch Horse Importing Company to make an assignment yesterday, as the ranch and bank are closely connected. George L. Wright, late secretary and treasurer, is the assignee. The ranch's assets are about $150,000. mostly in land and horses. Liabilities about $60,000

3. January 12, 1890 The Helena Independent Helena, MT

Article from The Helena Independent, January 12, 1890

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Hard Times in South Dakota. MADESON, S. D., Jan. 11.-The bank of South Dakota has assigned to M. W. Daly. Assets $150,000; liabilities unknown. The assignment of the bank forced the Labelle Ranch Horse Importing company to assion yesterday. The ranch assets are $150,000, mostly in land and horses: liabilities $60,000.

4. January 12, 1890 Wichita Eagle Wichita, KS

Article from Wichita Eagle, January 12, 1890

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DAKOTA FIRMS FAILING. MADISON, S. D., Jan. 11.-The bank of South Dakota has assigned to M. W. Daly. The assets are claimed to be $150.000; liabilities unknown. The asignee is engaged in looking over the books, which are in a bad shape, learning how the concern does stand. The assignment of the bank forced the La Belle Ranche Horse Importing company to assign yesterday, as the ranche and bank were closely connected. George L. Wright, late secretary and treasurer, is the assignee. The ranche assets are about $150,000, mostly in land and horses, Liabilities about $60,000.

5. January 12, 1890 The Morning News Savannah, GA

Article from The Morning News, January 12, 1890

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DOUBLE ASSIGNMENT. A Bank and a Ranch in South Dakota Go to the Wall. MADISON, S. D., Jan. 11.-The Bank of South Dakota has assigned to M. W. Daly. The assets are claimed to be $150,000; liabilities unknown. The assignee is engaged in looking over the books, which are in bad shape, learning how the concern does stand. The assignment of the bank forced the La Belle Ranch Horse Importing Company to assign yesterday, as the ranch and bank were closely connected. George L. Wright, late secretary and treasurer, is assignee. The ranch's assets are about $150,000, mostly in land and horses; liabilities, about $60,000.

6. January 12, 1890 The Cheyenne Daily Leader Cheyenne, WY

Article from The Cheyenne Daily Leader, January 12, 1890

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Two Assignments. MADISON, S. D., Jan. 11.-The bank of South Dakota has assigned to M. W. Daly; assets $150,000; liabilities un known. The assignment of the bank forced the LaBelle Ranch Horse Importing company to assign yesterday. The rauch assets are $150,000, mostly in land and horses; liabilities $60,000.

7. January 12, 1890 The Daily Citizen Asheville, NC

Article from The Daily Citizen, January 12, 1890

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Two Heavy Dakota Failures. MADISON, S. D., January 11.-The bank of South Dakota has assigned to M. W. Daly. The assets are claimed to be $150,000; liabilities unknown. The assignee is engaged in looking over the books which are in bad shape, and learning how theconcern stands. The assignment of the bank forced the La Belle ranche horse importing company to assign yesterday, as the ranche and bank were closely connected. Geo. L. Wright, late secretary and treasurer, is the assignee. The ranche's assets are about $150,000, mostly in land and horses. Liabilities are about $60,000.

8. January 18, 1890 Baxter Springs News Baxter Springs, KS

Article from Baxter Springs News, January 18, 1890

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THE WEST. THE West Indianapolis hominy mill, owned by C. E. Hall, which was running day and night, was destroyed by fire the other morning. Loss, $75,000. THE oka river at Jasper, Ind., has been on a rampage. INFLUENZA has demoralized the Llissouri penitentiary. TWENTY-NINE Germans at Waltham, Minn., were recently suffering from trichinosis, caused by eating raw pork. A boy has died. JUDGE SHEPARD, of the Chicago Superior Court, has made perpetual the injunction prohibiting the West Side Cab e Company from using State street in that city. SPECIAL dispatches report that many farms in Southern Illinois are almost submerged with water, the result of a long-continued rainfall. Thousands of bushels of corn in that part of the State remain ungathered. THE trial of A. H. Livingston for killing Henry Summers at West Plains, Mo., April 25 last, resulted in an acquittal on the ground of self defense. A BOILER exploded in the basement of the Morris Printing Company, Chicago, recently. The front of the building was blown out and many of the empl yes were injured, but no one was killed. The damage was $20,000. THE artesian well completed at Woonsocket, S. D., a few days ago, threatens to flood the town. A solid column of water as big as a man's body is thrown sixteen feet high from the top of the standpipe. A SERIOUS tornado passed through St. Louis and into Illinois on the afternoon of the 12th. Among the buildings demolished was a house which fell upon the inmates, killing four and seriously injuring as many more. HON. NEHEMIAH GREEN, ex-Governor of Kansas, died at Manhattan on the 12th. He was elected LieutenantGovernor in 1866 and served the unexpired term of Governor Crawford, who resigned. THE Bank of South Dakota at Madison, S. D., has assigned. THE Monarch distillery at Peoria, III., has been destroyed by fire. Loss, $165,500. GEORGE W. DOCKER, a gas fitter in the employ of the West Side Gas and Coke Company at Chicago, while repairing a leak in a gas pipe was fatally asphyxiated recently. JAMES E. CAMPBELL was inaugurated Governor of Ohio on the 13th. THE International Bricklayers' and Masons' Union met in annual convention at Kansas City, Mo., on the 13th. HENRY and Martin Reimus, section hands, were run down near Wheeler, Ind., the other day by a light locomotive and killed. MONTANA'S financial situation is first-class. There is a cash balance of $33,251, while the revenue exceeds the expenses by $80,000. WARREN BRISTOKA, for thirteen years Associate Justice of the New Mexico Supreme Court, died in Deming recently. aged sixty-eight. THE fast Chicago express on the Erie road struck a fallen tree north of Peru, Ind., the other morning. The baggage and express cars were thrown into a ditch and the engine and chair car derailed, but noone was hurt.

9. January 24, 1890 Iowa County Democrat Mineral Point, WI

Article from Iowa County Democrat, January 24, 1890

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FIRES AND CASUALTIES THE Bank of South Dakota, located at Madison, S. D., has assigned. The assets are said to be $150,000; liabilities unknown. EDWARD AND MICHAEL GALLAGHER and their sister, Mrs. Kate Stockhouse,

10. January 2, 1891 Middlebury Register Middlebury, VT

Article from Middlebury Register, January 2, 1891

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7. Great storm in Great Britain. ASSIGNMENTS AND SUSPENSIONS. The most important assignments and suspensions of the year are mentioned below: JANUARY. Bank of South Dakota and La Belle Ranch Horse Importing Co., Madison, S. D.; L. H. Stone, horses, San Francisco; A. W. Morris & Co., cordage, Montreal; John B. Lalande, cotton factor, New Orleans: Central Wagon Co., Lan sing, Mich. FEBRUARY. A. G. Leonard & Co., Chicago, boots and shoes MARCH. Atlantic Fire Insurance Co., Providence, R I.; R. R. Donnelly & Son, printers, Chicago; Monroe Eckstein & Leopold Wortheimer, N Y.; Belloc Bros., private bankers, San Francisco; John F. Plummer & Co., dry goods commission merchants, New York: J. S. Murphy & Co., lumber, Montreal. APRIL Manhattan Bank of Manhattan, Kan.: Merchants and Traders' Produce Exchange, Nashville, Tenn.: Louis Francke & Co., silk importers, New York; Carl Spengler, liquors, Kansas City, Mo.; Bank of America, Philadelphia, Pa. MAY. Gloucester City National Bank, Gloucester. N. J.; Fechheimer, Rau & Co., New York: Fidelity Surety, Trust and Safe Deposit Co., Camden, N. J.; Port Norris (N. J.) Bank; Merchants' Bank, Pleasantville, N. J.; Merchants' Bank, Atlantic City, N. J.; Doran & Wright, brokers, New York and elsewhere; Smith, Wade & Co., lumber, Quebec. JUNE. Bank of Hartford, Hartford, Wis JULY. J. E Tygert & Co., fertilizers. Philadelphia SEPTEMBER. Hixie & Meller, lumber, Ontigo, Wis : Potter Lovell & Co., publishers, Boston; Sawyer, Wallace & Co, commission merchants, New York; Jackson Woolen Mills, Jackson, Tenn. Bank of Madison, Jackson, Tenn. OCTOBER. Forestal Bros, contractors, St. Paul: F H. Hagerty & Co, bankers, Aberdeen, S. D.; Curry & Hosmer, hardware, Boston: Isaac L. Falk & Co., clothing, New York; Isidore Rosenthal, coats, New York: Leopold Bros. & Co. clothiers, Chicago NOVEMBER. Packing and Refrigerator Co., Kansas City: Barker Bros. & Co., bankers, Philadelphia: U 8. Rolling Stock Co., Ohio, Illinois and Alabama: Thomas Faweett & Co. coal dealers, Pittsburg: Richard H. Allen & Co., bankers and merchants, New York: Thomas Hallen & Co., tankers and merchants, Memphis: Ore gon Improvement Co., New York: Bell & Eysier, backers, Duluth, Minn.; B K. Jamison & Co. bankers, Philadelphia; Walker & Sons, importers New York: Decker Howell & Co., New York DECEMBER. Rittenhouse Manufacturing Co., Passaic, N. J.; Delamater & Co, Meadville, Pa.: V.A. Meyer & Co., cotton, New Orleans; liabilities $2,000,000, nominal assets $3,000,000

11. January 3, 1891 The Dickinson Press Dickinson, ND

Article from The Dickinson Press, January 3, 1891

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IN THE FINANCIAL WORLD. JANUARY. 12 Bank of South Dakota at Madison assigned; assets, $150,000; liabilities not stated; as a result the La Belle Ranch Horse Importing company assigned; liabilities. 300,000; assets, $150,000. 16. L. H. Stone, San Francisco harness dealer, as signed: liabilities, $204,000; assets small. 28. John B. Lalande, cotton factor, assigned in New Orleaus: liabilities, $764.000: assets, $514,000. 80. The First National bank, the Lenox Hill bank, and the Equitable bank, all in New York, closed by order of the United States bank examiner; George II. Pell, a broker, and P. J. Claassen, president of the Sixth National, arrested. MARCH. 7. Monroe Eckstein and Leopold Wertheimer, New York brewers, assigned: liabilities, $000,000. Belloe freres, bankers, San Francisco. failed; liabilities large. 19. John F. Plummer & Co., one of the largest dry goods commission firms in the business, assigned in New York; liabilities, $1,00,000; assets about the same. APRIL. 8. Manha:tan bank, of Manhattan, Kan., failed; liabilities, $600,000. 17. Louis Francke & Co., silk importers, assigned in New York; liabilities, $900,000. 30. The Bank of America, a state institution, at Philadelphia. suspended. MAY. 1 The Gloucester City National bank At Glouces. ter City, N.J., carried under by failure of Bank of America. Fechheimer, Rau & Co., shirt makers, failed in

12. January 8, 1891 Herald and News Randolph, VT

Article from Herald and News, January 8, 1891

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ASSIGNMENTS AND SUSPENSIONS. The most important assignments and suspensions of the year are mentioned below: JANUARY. Bank of South Dakota and La Belle Ranch Horse Importing Co., Madison, S. D.: L. H Stone, horses, San Francisco: A. W. Morris & Co., cordage, Montreal: John B. Lalande, cotton factor, New Orleans: Central Wagon Co., Lan sing, Mich. FEBRUARY. A. G. Leonard & Co., Chicago, boots and shoes MARCH Atlantic Fire Insurance Co., Providence, R. L; R. R. Donnelly & Son, printers, Chicago: Monroe Eckstein & Leopold Wortheimer, N. Y.; Belloc Bros., private bankers, San Francisco; John F. Plummer & Co., dry goods commission merchants, New York: J. S. Murphy & Co., lumber, Montreal. APRIL Manhattan Bank of Manhattan, Kan.: Merchants and Traders' Produce Exchange, Nashville, Tenn.: Louis Francke & Co., silk importers, New York: Carl Speagler, liquors, Kansas City, Mo.: Bank of America, Philadelphia, Pa. MAY Gloucester City National Bank. Gloucester. N. J.; Fechheimer, Rau & Co., New York: Fidelity Surety, Trust and Safe Deposit Co., Caniden, N. J.; Port Norris (N J.) Bank; Merchants' Bank, Pleasantville, N. J.; Merchants' Bank, Atlantic City, N. J.; Doran & Wright, brokers, New York and elsewhere; Smith, Wade & Co., lumber. Quebec. JUNE. Bank of Hartford. Hartford. Wis JULY. J. E. Tygert & Co., fertilizers, Philadelphia SEPTEMBER. Hixie & MeHer, lumber, Ontigo. Wis.: Potter. Lovell & Co., publishers, Boston; Sawyer, Wallace & Co, commission merchants, New York; Jackson Woolen Mills, Jackson, Tenn.: Bank of Madison, Jackson. Tenn. OCTOBER Forestal Bros, contractors, St. Paul: F. H. Hagerty & Co., bankers, Aberdeen, S. D.: Curry & Hosmer, hardware, Boston; Isaac L. Falk & Co., clothing, New York; Isidore Rosenthal, coats, New York: Leopold Bros. & Co. clothiers, Chicago NOVEMBER. Packing and Refrigerator Co., Kansas City; Barker Bros. & Co., bankers, Philadelphia; U. S. Rolling Stock Co., Ohio, Illinois and Alabama: Thomas Faweett & Co, coal dealers, Pittsburg: Richard H. Allen & Co., bankers and merchants, New York; Thomas Hallen & Co., bankers and merchants, Memphis: Oregon Improvement Co., New York: Bell & Eyeler, bankers, Duluth, Minn.; B. K. Jamison & Co. bankers, Philadelphia; Walker & Sons, importers, New York; Decker Howell & Co., New York. DECEMBER. Rittenhouse Manufacturing Co, Passaic, N. J.; Delamater & Co, Meadville, Pa.: V. A. Meyer & Co., cotton, New Orleans; liabilities $2,000.000, nominal assets $8,000,000. Thousands of men and women in the United States recall their membership in the Greek letter fraternities as one of the most enjoyable and profitable features of their college life. Longafter the last traces of memory of the Greek conjugation have vanished, after the Odes of Horace and the swinging lines of the AEneid have faded into the irrevocable past; after all mathematics but the rule of three has lapsed into the secret recesses of the mind; after the finer classifications of the "genus" and "species" have given place to such everyday terms as "mud cat" or "dog fennel;" after all these and a hundred other once important departments of learning have been forgotten, still the recollections of the fraternity, the jolly meetings in the old hall, the exclusive pienics and parties: the dinners, cheap but seasoned with wit and warm geniality; the solemn advice to the erring brother, the sitting up at nights with the unfortunate of the number who fell sick, the anxiety to outdo all rival fraternities in securing good men who entered college, the throb of pride when one of "our boys" won a prize or some special college honor-these things remain as vividand fresh in the memory as though commencement day were only yesterday. -Indianapolis News.