Article Text
Brule County Bank Suspends. CHA MBERLAIN, S. D., June 13.-The Brule County bank today closed its doors owing to the failure of the Union Stock Yards bank at Sioux City.
20283. Brule County Bank (Chamberlain, SD)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- June 13, 1893
- Location
- Chamberlain, South Dakota (43.811, -99.331)
Metadata
- Model
- gpt-5-mini
- Short Digest
442263ce
Response Measures
None
Description
The bank 'closed its doors' June 13–14, 1893 due to the failure of the Union Stock Yards Bank at Sioux City (a correspondent failure). Later reports (late July 1893) describe the institution as defunct and show a receiver (J. W. Orcutt) appointed, indicating permanent closure/receivership. No explicit deposit run is described in the articles.
Events (2)
1.
June 13, 1893
Suspension
- Cause
- Correspondent
- Cause Details
- Closed because of the failure of the Union Stock Yards Bank at Sioux City (correspondent/connected bank failure).
- Newspaper Excerpt
- The Brule County bank today closed its doors owing to the failure of the Union Stock Yards bank at Sioux City.
- Source
- newspapers
2.
July 26, 1893
Receivership
- Newspaper Excerpt
- The attachments and executions held by depositors against the property of the defunct Brule County bank have been set aside by Judge Haney, and J. W. Orcutt, of this city, was today appointed receiver of the bank.
- Source
- newspapers
Newspaper Articles (8)
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Faillites de Banques et autres La "Citizens National Bank" de Hilsbora, o, vient de suspendre ses paiements. L3 "Frank A. Lappen Company" de West Superior a fait faillite. La "Hudson Savings Bank" d'Hudson, Wis., a fermé se3 portes. La banque de Jos Higins 84 Wa hington Street Chicago, a déposé son bilan. W. L Sherwood de Chicago à suspendu SPB paiemente. Hobbs et Tacker, banquiers de Savanaugh, Ga. ont fait faillite. La "Bank of Buir Oak," Kan., a fait faillite La "Peoples Guarantee Savings Bank" de Kansas City Mo., a déson bilan. La "Union Stock Yard Bank" de Sioux City S. D. a suspendu ses paiements. Il en est de même de la "Brule County Bank" de Chamberlain S. D. "L'American National Bank" d'Omaha Neb., a ferme S S portes. On dit que le "G'obe Laon & Trust Co" la "Dime Savings Baik" la 'G rmania Savings Bank" et la "Nebraska Savings Bink" sont en danger. Fermée également la "Trust National Bank" de Lakota S. .D. E. S. Howard vient d'etre nommé syndic de la faillite de la Firet National BaLk" de Cedar Falls, Iowa. La banque d'Everett, à Snoho mish, Wash., vient de fermer ses portes. Enfin, la "People Savings Bank"
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and morning, statement is unobtainable. The cause is supposed to be the failure of the Fairchild woolen mills. ARKANSAS CITY, June 15.-The First National bank of this city, one of the oldest, and until recently considered one of the strongest financial institutions in the southwest, failed to open its doors this morning. WESTON, O., June 14.-The Exchange t Banking Company, with 8 capital srock of $50,000, has been compelled to suspend because of the heavy runs the past few days. It is thought the depositors will be paid in full. NEW YORK, June 14.-Ernest E. Kipling, importer of precious stones, with branches at Providence, R. I. and Paris, has suspended and a receiver appointed. The stringency in the money market and the heavy losses by recent jewelry failures is given as the cause. The liabilities are about $150,000, the assets will exceed that amount. ROCKFORD, ILL., June 14.-The Rockford Folding Bed Company assigned. The liabilities, $50,000; assets, $25,000. DENVER, June 14.-The Pioneer Lithographing Company has made an assignment. Liabilities, $35,000; assets, $55,000. CHAMBERLAIN, S. D., June 14.-The Brule county bank closed its doors owing to the failure of the Union Stock Yards bank at Sioux City. PARSONS, KAS., June 13.-The City bank of Angell, Matthewson & Co. of this city made an assignment this morning. The failure is due to an overstock of real estate. The liabilities are between $120,000 and $125,000. The firm has turned over $350,000 in real estate to satisfy creditors. The assignment in no wise affects the other banks of the city, or any other business enterprise. LANSING, MICH., June 13.-The state bank of Crystal Falls made an assignment to-day. The capital stock amounts to but $25,000 and deposits at $60,000. The bank was involved in the failure of the Plankinton bank in Milwaukee. CLEVELAND, O., June 13.-The Williams Publishing company, one of the largest printing houses in the state, passed into the hands of 8 receiver today to avoid a threatening onslaught of creditors. They expect to clear themselves. MOBERLY, Mo., June 13.-At10o'clock this morning the following notice was placed upon the front door of the Exchange bank of this city, of which Adam Given is president and O. E. Hannah cashier: This bank is closed and now in possession of the undersigned assignee under deed of assignment for benefit of creditors. W.A. WRIGHT, Assignee. NASHVILLE, TENN., June 13.-The Nashville Savings Co., Thomas S. Marr, president, the oldest financial institution in Nashville, founded in 1853, nled articles of assignment to-night at 9 o'clock. The liabilities are placed at $222,000, and the assets, accordiug to the president's estimate, will pay not more than 25 or 30 per cent. Among the stated assets is $60,000 due from Arthur &
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Aberdeen News, 22: The rumor that Supreme Judge Kellam was officially connected with the suspended Farmers' and Merchants' bank of Plankinton is absolutely without foundation in fact. The judge never had any connection with that bank in any capacity whatever, The bank directory for the year 1892 shows that he was president during that year of the Brule County bank, of Chamberlain, since defunct, but the News is informed that he was not an officer of even that bank at the time of its failure. The gossips probably got the two banks mixed.
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HERE'S A COMPLICATION. Chief Justice of Supreme Court President of a Busted Bank. Special to the Globe. CHAMBERLAIN, S. D., July 26.-The attachments and executions hela by depositors against the property of the defunct Brule County bank have been set aside by Judge Haney, and J. W. Orcutt, of this city, was today appointed receiver of the bank. The party who held the attachments and execution will appeal the decision of Judge Haney to the state supreme court. It happens that Chief Justice Kellam, of the South Dakota supreme court, is also president of the bank.
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Receiver Appointed. CHAMBERLAIN, S. D., July 28.-Judge Haney appointed J. W. Orcutt receiver of the Brule County bank. which failed here some time ago.
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Brule County Bank Case. AT Chamberlain Judge Haney has set aside the attachments and executions held by depositors in the defunct Brule County Bank against the bank's property. The matter will be appealed to the State Supreme Court, of which Judge Cellam, president of the defunct bank. is chief justice. Judge Haney appointed J. W. Orcutt receiver of the bank.
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Chamberlain Register, 27: In response to the wishes of the creditors of the late Brule County Bank Judge Haney came out from Mitchell Tuesday evening to listen to the arguments pro and con on the application for the appointment of a receiver and the nullification of the recent action of Treasurer House in securing an attachment on the property of the bank. Attorney Brown represented the creditors who asked that the attachment of House be set aside and a receiver appointed. Attorneys Greene and House represented the county treasurer and resisted the application. After hearing the arguments Judge Haney rendered his decision dissolving the attachment and appointing J. W. Orcutt receiver.