20240. Douglas County Bank (Armour, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1893*
Location
Armour, South Dakota (43.319, -98.347)

Metadata

Model
gpt-5-mini
Short Digest
eb0cb1e3

Response Measures

None

Description

The Douglas County Bank at Armour, S.D. closed its doors in mid-June 1893 (articles report June 18, 1893). Reports indicate liabilities and assets roughly $33,000, the bank is described as defunct and later placed in receivership (receiver F. C. Dickson; later George D. Cole). Directors were later sued. No article describes a depositor run triggering the closure; this appears to be a suspension/failure followed by receivership and litigation, i.e., permanent closure.

Events (3)

1. June 1, 1893* Receivership
Newspaper Excerpt
Receiver Dickson, of the defunct Douglas County bank, has sued the directors for $40,000 (Aug. 1893 mentions receiver Dickson). A later article (Apr 20, 1894) notes George D. Cole was appointed receiver for the defunct Douglass County bank, the bank failed last June and no statement has been made of its condition.] (OCR spelling Douglass/Douglas).
Source
newspapers
2. June 18, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed with liabilities roughly equal to assets (~$33,000), described as defunct/insolvent in local reports.
Newspaper Excerpt
ARMOUR, S. Dak., June 18.-The Douglas County Bank, located here, has closed its doors. The liabilities are estimated at $33,000 and the assets at a like amount.
Source
newspapers
3. August 6, 1893 Other
Newspaper Excerpt
Receiver Dickson, of the defunct Douglas County bank, has sued the directors for $40,000. D. P. Slickter, vice president, and James A. Wilson and K. G. Foster... have made bills of sale of their stores and other personal property.
Source
newspapers

Newspaper Articles (8)

Article from The Morning Call, June 19, 1893

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Article Text

RESUMING BUSINESS. On the Whole the Worst of the Bank Trouble Is Over. INDIANAPOLIS, Ind., June 18. -The Capitol National Bank will reopen its doors to-morrow morning with $50,000 more cash on hand than is required by Comptroller Eckels. It is not thought that there will be any extraordinary rush to draw out the deposits which have been tied up. CLEVELAND, Ohio, June 18.-The Lake County Bank at Painesville, Ohio, which was forced to suspend last week because of a run is solvent. The statement shows assets amounting to $450,000 and liabilities of $350,000. ARMOUR, S. Dak., June 18.-The Douglas County Bank. located here, has closed its doors. The liabilities are estimated at $33,000 and the assets at a like amount. CHICAGO, June 18. - The report of the assignment of Hermann, Schaffner & Co., the insolvent bankers, shows liabilities of $2,350,011, with assets estimated as good of $1,894,905 and total sssets of $2,312,818.


Article from The Kinsley Graphic, June 23, 1893

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Article Text

ulation away from that vicinity. THE steamer Falcon has sailed from St. Johns, Newfoundland, for Philadelphia to take the Greenland. She is and Peary fully expedition equipped this to newly fitted especially for voyage. a cure of began graduate SIMON MAHONEY, Niagara Falls, gold N.Y., liquor drinking again the other day and was soon mad. His brothers tried to subdue him and he shot one and beat out the brains of the other. SAMUEL CRAWFORD and ex-Councilthan Charles Gottfreid of Lima, O., both leading business men, have disappeared. NATURAL gas has been struck at the St. Louis dressed beef plant in very considerable quantity. THE Northern Pacific railroad has met the deep cut in rates announced by the Great Northern, commencing June 18. RAIN spoilt the celebration of Bunker Hill day at Boston. THE International Typographical union has published the facts showing gross boodling and mismanagement of the Printers' home at Colorado Springs. CHIEF JUSTICE FULLER refused an injunction to restrain the world's fair from opening on Sunday. This virtually settled the question. It did not, to however, attract any large crowd the world's fair as expected Sunday. WHILE bombarding the heavens for rain at Minneapolis, Kan., a premature discharge of the cannon caused the instant death of S.F. .Redn nd and seriously wounded Rufus Preston and another. Mr. Redmond was captain of Company G., Fourth regiment, K. N. G. AT Rolla, N. D., a cowboy robbed the bank and shot the cashier, after which he was run down and killed by the indignant citizens, FOUR Choctaw Indians who participated in the recent trouble in the nation have been convicted of murder and sentenced to be shot. FIVE trainmen were killed by a collision of two freights at Cameron, W. Va. JUDGE WILLIAMS, of the United States circuit court, has decided that the Leavenworth Coal Co. must pay royalties to the government. The amount is about $200,000. THE evidence brought out at the Ford theater inquest showed that both Contractor Dant and the government were much to blame for the manner in which, the work was done THE United States judge at Seattle, Wash., made an important ruling to the effect that the government has no longer control over land which has been allotted to Indians. A DISASTROUS fire visited the town of Dundoff, Pa., and wiped out the best portion of it. AT Edgerton, Ind., a lumber town, whisky caused a general fight in which two persons were killed. TERRIBLE forest fires have been ragon the Mesaba range in Minnesota for ing three weeks, and several towns have been completely wiped outSTREET car lines in Minneapolis and the Paul were tied up temporarily, men St. refusing to sign a new contract, which was finally withdrawn. THE Douglas county bank at Armour liabiliS. D., has closed its doors. The ties are estimated at $33,000 and the assets at a like amount. THE town of Myers' Falls. Wash., was loss completely wiped out (by fire. The estimated at $10,000; insurance none. inMyers' is Falls contained about fifty habtiants. THE Lake County bank at Painesville, which was forced to suspend because O., run, was solvent. A statement and of shows a that the assets were $450,000 liabilities $350,000. THREE young men were drowned in Cheguamegon bay, near Washburn, which while sailing in a sailboat, Jack capsized. Wis., They were Lyle Kellog, Ford and O. Gay. trial of Armenians, accused of THE concerned in rioting at Cresarea been being Marsovan last spring, has just of the and concluded at Angora. Seventeen Thoumaian including Prof. to prisoners, Prof. Kayana, were condeinned and death; six, including the sentenced Protestant to at Gimeric, were eighteen pastor years' imprisonment; for fifteen sentenced to imprisonment were terms ranging from seven to ten years and fifteen were committed. ADDITIONAL DISPATCHE& NUMBER of United States customs A in the state of Washington service officials been dismissed from: the parties have the charge of collusion ntothe-country. with who on smuggled Chinese of Bo STRIKING miners in a district but were attacked the governor, loss of driven hemia off by the police with life. THE Suburban handicap at Coney Isl-


Article from Baxter Springs News, June 24, 1893

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Article Text

THE WEST. THE total paid admissions to the world's fair, including June 14, were 2,828,759. STREET car lines in Minneapolis and the Paul were tied up temporarily, men St. refusing to sign a new contract, which was finally withdrawn. THE International Typographical unhas published the facts showing of ion boodling and mismanagement gross the Printers' home at Colorado Springs. for WHILE bombarding the heavens rain at Minneapolis, Kan., a premature indischarge of the cannon caused the serideath of S. F. Redmond and and stant ously wounded Rufus Preston another. Mr. Redmond was captain G. of Company G. Fourth regiment, K. N. the AT Rolla, N. D., a cowboy robbed which bank and shot the cashier, after he was run down and killed by the indignant citizens. FOUR Choctaw Indians who partici- nation in the recent trouble in the pated have been convicted of murder and sentenced to be shot. JUDGE WILLIAMS, of the United States Leavcircuit court, as decided that the to enworth Coal Co. must pay royalties about the government. The amount is $200,000. THE United States judge at Seattle, to Wash.. made an important ruling the effect that the government has has no longer control over land which been allotted to Indians. AT Edgerton, Ind., a lumber town, whisky caused a general fight in which two persons were killed. TERRIBLE forest fires have been raging on the Mesaba range in Minnesota for three weeks, and several towns have been completely wiped out. THE Lake County bank at Painesville, O., which was forced to suspend because of a run, was solvent. A statement and shows that the assets were $450,000 liabilities $850,000. THREE young men were drowned in Chegnamegon bay. near Washburn. Wis., while sailing in a sailboat. which capsized. They were Lyle Kellog, Jack Ford and O. Gay. THE Douglas county bankat Armour, S. D., has closed its doors. The liabilities are estimated at $33,000 and the assets at a like amount. THE town of Myers' Falls, Wash., was loss completely wiped out by fire. The is estimated at $10,000; insurance none. Myers' Falls contained about fifty inhabitants. JOHN CONFORS, in the employ of the Wabash Railroad Co. at Springfield, III., was killed by an engine at that place. THE Cudahy Packing Co., at South Omaha has issued a circular proposing to receive deposits from employes and 30 pay interest on amounts remaining days or more. THERE died at Wilber, Neb., a few days aman named Castner Hauway, whose trial for treason in connection with the enforcement of the fugitive slave law of ante-bellum days was a forerunner of the late war. FAST trains on the Missouri. Kansas & Texas collided at Caddo. I. T., and a Wagner car conductor and porter were injured. TERRIBLE forest fires were raging in northern Wisconsin and much destruction of property was reported. THE Western Baseball league gave up the ghost. THE will of John Crerar, the millionaire, has been sustained at Chicago. ENGINEERS on the Michigan division of the Big Four threaten to strike for standard pay. THE California building at the world's fair, one of the finest state buildings, was opened to the public on the 19th. JUDGE CLARK, of the supreme bench of Oklahoma, declined to resign his seat to Judge Dale, the recent appointee. TROUBLE was reported at the Cheyenne agency over the attempted arrest of an Indian. It was said five Indians had been killed. THE Colorado supreme court has decided that Maneater Packer, who killed in 1874 and ate part five men cumulative of their senbodies, must serve the tences for each murder. A WOMAN imposed fast signaled a passenger train near Rantoul, Ill., on the Illinois Central, and prevented a wreck, a bridge just ahead having been burned. THE SOUTH. JOSEPH JEFFERSON, the actor, was suddenly taken ill while on his way to


Article from Union County Courier, August 3, 1893

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Article Text

Sue the Bank Directors. THE latest development in the Douglass County Bank matter at Armour is the suit of receiver Frank C. Dickson, by his attorneys, Maj. Dollard and E. P. Wanzer, against the directors of the bank for $40,000. It is provosed to hold them financially liable to that amount on the ground of the bank's mismanagement.


Article from St. Paul Daily Globe, August 6, 1893

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Article Text

Bank Directors Sued. ARMOUR, S. D.. Aug -Receiver Dickson, of the defunct Douglas County bank, has sued the directors for $40,000. D. P. Slickter, vice president, and James A. Wilson and K. G. Foster, other resident directors, have made bills of sale of their stores and other personal property. Much indignation is felt among the losing depositors. and the aforesaid gentlemen have a stronger public sentiment to work against than before. President Lumley was under custody for nearly two weeks, being unable to secure $2,500 bunds, but has finally succeeded in procuring them from friends at Pierre.


Article from Reporter and Farmer, August 10, 1893

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BANK DIRECTORS SUED. Armour, S. D., Aug. 7.-Receiver Dickson, of the defunct Douglas County bank, has sued the directors for $40,000. D. P. Slicter, vice president, and James A. Wilson and K. G. Foster, other resident directors, have made bills of sale of their stores and other personal property. Much indignation is felt among the losing depositors, and the aforesaid gentlemen have a stronger public sentiment to work against than before. President Lumley was under custody for nearly two weeks, being unable to secure $2,500 bonds, but has finally succeeded in procuring them from friends in Pierre.


Article from Union County Courier, March 15, 1894

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press have been uniformly of an applauding nature. Sheriff Dean left for Armour Tuesday to see the proper authorities who have control of a number of stallions in Elk Point over which there hangs an attachment gotten out by the receiver of the defunct bank of Armour, the Douglas County bank. The feed bill for these animals line approached a large sized sum and the sheriff is anxious to find out "where he is at." The estate of the late John Walsh consisting of 204 acres of land in Elk Peint township and personal property to the value of $500, was probated on Tuesday last. An agreement between the heirs-nine in all -has been entered into for a division of the property. The widow receives the 40 ncres on which the house stands and $150-the land to be seeded and harvested this year for her. The remainder goes to the other agreed heirs. John Walsh has been appointed administrator.


Article from The Pioneer Express, April 27, 1894

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Time n Receiver Got to Work. Armour, S. D., April 20.-George D. Cole, who was appointed receiver for the defunct Douglass County bank, vice F. C. Dickson, resigned, arrived in the city to assume his duties as such. The bank failed last June, and up to the present time no statement of its condition has been made. Mr. Cole promises 11 speedy settlement.