First National Bank (Fergus Falls, MN)

Article Text

Money Flows Back to Bank In Fergus Falls

Depositors Return Funds After Run in Which President Challenged Anyone to Break Institution

Depositors in the First National Bank at Fergus Falls, which with the Fergus Falls National Bank Friday suffered heavy run, Saturday returning withdrawn funds the institution. Scenes excitement when long lines of depositors demanded their money were by lunches of cofand icecream served the bank, replaced by quiet returning the bank with their funds to reopen their accounts. The depositors at the height of run Friday were greeted with the challenge from Elmer Adams, president the institution to to break this The line persisted until the bank remaining six hours beyond the regular time return money to the withdrawers. "It's all over now," Mr. Adams said today. 'People are coming return their funds. We showed Continued on Page 2

Article Text

Serve Doughnuts, Coffee to Halt Run on Bank

Dec. FOR Dry Fergus cord delivered. Officials local banks today had staved off run by coffee and doughbuts with his eash each The run developed yesterday after the closing of other banks. Ave. Officers of the First National and Forgus Falls National banks backed up their claim that they had ample funds pay all depositors by keeping doors open past the usual closing Phone time as well as serving refreshments.

Article Text

Bank Pays Depositors, Serves Lunch

(Taken from Poplar Standard)

A most interesting bank run occurred just recently in Fergus Falls, Minn. when the First National Bank o f that city served coffee and doughnuts to depositors while they waited their turn to get their money. Although they were paying as fast as they could, the crowd was such that they could not all get inside an d many were waiting on the side walk. Feeling sure they were cold and hungry, the bank arranged to, serve coffee a n d doughnuts to all who W e r e waiting. G. A. Lundeen of Poplar, has just had aninteresting account of the run, which attained national prominence. from h 18 brother, Leonard Lundeen,w resides ergus Falls. The latter writes thatduring h e ruo the bank remained open until night to pay all who waited. In addition t o serving its customersthe lunch the bank's president 8 t o o d outside and assured everyone that their deposits would b e paid as soon as they could get to them Currency in huge amounts was brought in from Minneapolis, by airplanes. Mr. Lundeen writes that $1,000,000.00 was brought in one day, and that $750,000.00 the following day The cash W a 8 rushed to Fergus Falls b y planes, heavily guarded b y machine gunners. Few banks are in 21. position to stand a sustained run, and the fact that this bank could not be broken, along with its serving lunch, was 80 unusual as to gain the institution national prominence.

Article Text

WINTER RESIDENT IN CONGRESS RACE

E. E. Adams Candidate in Minnesota

Elmer E. Adams. Fergus Falls. Minn., who has spent many winters in running for Congress on the ticket in Minnesota. according to informareceived by friends here. Mr. Adams president of the First National Bank in his city, and achieved much publicty by serving coffee and cake and all comers to their money they wanted "run" on his bank threatened. The "run" stopped Before becoming banker Mr. Adams was for many years editor of the Fergus Daily Journal, and is still one of the owners of the paper.

CITY PRINTING NOTICE INVITING STREET WORK PROPOSALS OR BIDS

PURSUANT TO STATUTES. Resolution No. Board dena, the said Board invites sealed proposals doing the work LAKE AVENUE between Colorado Street Orange Grove Avenue Intention No. 6435 Resolu- Board Directors Pasadena Reference hereby made to said

Article Text

THE PASADENA PARADE Reflections of a Man About Town

SARTORIAL Note: George Raft, the movie star, buys his shirts and cravats in Pasadena. Thus the Hollywood mime proves himself a gentleman of discernment and taste, emulating Bill Horrell, Dr. Joseph P. Szukalski, Charles L. Wright and many another well-groomed worthy along the Boul.

AS a matter of fact, our bazaars, with their infinite variety and up-to-dateness, attract custom not only from Hollywood but from the four corners of the continent. Winter guests buy things here and take them back to New York, St. Paul, Montreal, St. Louis, Detroit, Philadelphia, East Orange, Greenwich, Lake Forest and elsewhere.

Naturally, these sojourners learn the names and addresses of the bazaars and the nature of the goods and services proffered from advertisements in their favorite newspapers, The Star-News and The Post. (Adv.)

MANY of the owners of horses being raced at Santa Anita Park are now in our midst. I wish the owners might have run in place of the horses upon which I ventured a few timid wagers. I dare say the owners could have run faster.

SPEAKING of horsemen, one of the best amateur riders in California is Conrad Aronson of Pasadena. Used to be in the Cavalry. He is also one of the most avid bookworms on the Boul.

Good at reading and riding, what?

AN interesting winter visitor in Pasadena this season is Elmer E. Adams of Fergus Falls, Minn., who has for years successfully carried on the dual role of bank president and newspaper editor. And he even found time to serve in the Minnesota legislature. He is the head of the First National Bank and also head of the Fergus Falls Daily Journal. He is a lucky editor to own a bank. Most ink-slingers are not so fortunate.

Mr. Adams' bank is a first-rate one, too. A few years ago, when some Midwest banks were bursting fairly in the faces of officers and depositors, someone started a run on Mr. Adams' bank. He sent out for an orchestra to play and a caterer to serve coffee and doughnuts in the lobby. As people came in, he invited them to take out their money if they wanted to, but also to have a snack. They decided not to take their money out after all, but remained for refreshments. The "run" was turned into a jolly community social gathering.

MR. ADAMS is one of the gentlemen at whom I used to peg snowballs when I was a boy. But after I got out of school I stopped throwing snowballs at newspaper editors. I threw bouquets, and said "Yes, Sir," very politely.

A VIEW to me absolutely untenable is that fans wouldn't like fair Evelyn Venable.

—The Boulevardier