20339. First National Bank (Fort Pierre, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4237
Charter Number
4237
Start Date
December 29, 1894
Location
Fort Pierre, South Dakota (44.354, -100.374)

Metadata

Model
gpt-5-mini
Short Digest
dd6dc100

Response Measures

None

Description

The First National Bank of Fort Pierre made a general assignment and had a receiver (C. D. Meade) appointed in late December 1894. Articles state the bank assigned and was obliged to close on account of slow collections, with one report explicitly citing crop failure and consequent non-collections. No contemporaneous run is described; the event is a suspension/assignment leading to receivership/closure.

Events (4)

1. February 19, 1890 Chartered
Source
historical_nic
2. August 28, 1894 Voluntary Liquidation
Source
historical_nic
3. December 29, 1894 Receivership
Newspaper Excerpt
The First National bank of Fort Pierre has assigned to its creditors, and C. D. Meade of this city has been appointed receiver. The principal creditors are: Georgetown National bank..., The bank holds plenty of collateral to satisfy all claims. It was obliged to close on account of slow collections. (reported Dec. 29/31, 1894).
Source
newspapers
4. December 29, 1894 Suspension
Cause
Local Shock
Cause Details
Slow collections due to crop failure and consequent non-collections forced closure/assignment of the bank; assets said to exceed liabilities but bank closed for lack of collections.
Newspaper Excerpt
Pierre, S. D., Dec. 29.-The First National bank of Fort Pierre assigned today. and C. D. -Meade, of this city, was appointed receiver. The bank holds plenty of collateral to satisfy all claims. It was obiged to close on account of slow colections.
Source
newspapers

Newspaper Articles (6)

Article from The Seattle Post-Intelligencer, December 30, 1894

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Article Text

Business Failurre. Fort Dodge, Iowa, Dec, 29.--R. W. Craw. ford & Co., wholesale and retail druggists and the largest house in Northern Iowa, failed to-day. The stock and credits were turned over to W. N. Morrit for the beneat of all creditors, and $20,000 worth of real estate was deeded In trust for local creditors. Slow collections were the cause. Pierre, S. D., Dec. 29.-The First National bank of Fort Pierre assigned today. and C. D. -Meade, of this city, was appointed receiver. The bank holds plenty of collateral to satisfy all claims. It was obiged to close on account of slow colections. New York, Dec. 28.-The dry goods and millinery firm of J. L. Lyehenstein & Sons baz gone to the wall. The Dabilities will probably amount to $450,000, while the assets are not expected to reach more than half that much.


Article from The Providence News, December 31, 1894

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Article Text

South Dakota Bank Assigns. PIERRE, S. D., Dec. 31.-The First Naonal bank of Fort Pierre has assigned its creditors, the principal of whom are e Georgetown National bank of Georgetwo, Mass.; John Fhrnsworth of Cresco, and the bank of Volga, S.D. The .nk holds plenty of collateral, but was viged to close on account of slow collerthis.


Article from Reporter and Farmer, January 3, 1895

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Article Text

Penalty of Slow Collections. Pierre, S. D., Jan. 1.-The First National Bank of Fort Pierre has assigned to its creditors, and C. D. Meade of this city has been appointed receiver. The principal creditors are: Georgetown National bank, Georgetown, Mass.; John Farnsworth, Cresco, Iowa; Bank of Volga, S. D. The bank holds plenty of collateral to satisfy all claims. It was obliged to close on account of slow collections.


Article from The Dakota Chief, January 10, 1895

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Article Text

Two Banks to Close. The First National Bank of Fort Pierre has assigned to its creditors, and C.D. Meade of Pierre was appointed receiver. The principal creditors'are the Georgetown National Bank of Georgetown, Mass.: John Farnsworth of Cresco, Iowa: Bank of Volga, Volga, S. D. The bank holds plenty of collateral to satisfy all felaims, but was obliged to close on account of slow collections. The Bank of Edgerton has also closed its doors. A general assignment has been made to Henry Harding, the present county treasurer and the largest creditor of the institution. Crop failure and consequent non-collections is given as the cause. The assets are in excess of the liabilities, and depositors will be paid in full.


Article from Union County Courier, April 11, 1895

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Article Text

the October term of court. When he reached Deadwood he found a burdened docket, which, despite his own ill health, he proceeded to clear, and the term lasted until a few days before Christmas. Judge Edgerton was in Arkansas on account of kis illness. Just before adjourning the term Judge Dundy laid before the bar certain correspondence between himself and Edgerton, and asked the bar to decide whether it was their wish that he return and hold the Feburary term. The bar unanimously asked Dundy to hold the term. # Two Banks to Close. The First National Bank of Fort Pierre has assigned to its creditors, and C. D. Meade of Pierre was appointed receiver. The principal creditors'are the Georgetown National Bank of Georgetown, Mass.: John Farnsworth of Cresco, Iowa; Bank of Volga, Volga, S. D. The bank holds plenty of collateral to satisfy all claims, but was obliged to close on account of slow collections. The Bank of Edgerton has also closed its doors. A general assignment has been made to Henry Harding, the present county treasurer and the largest creditor of the institution. Crop failure and consequent non-collections is given as the cause. The assets are in excess of the liabilities, and depositors will be paid in full. # South Dakota Presbyterians, The annual minutes of the synod of South Dakota Presbyterian Church, just sent out by Rev. H. P. Carson, D. D., of Scotland, show it includes 126 churches, of which 99 are American, 18 Indian, 6 German, 2 Bohemian and one Holland. Eighty-three of these have houses of worship and twenty-five have manses. The total membership is 5,014, a net gain of 208 over last year. One minister died and six more were ordained. The total benevolent contribution was $6,385. The total of the home expenditures of these churches was $39,368.


Article from Pierre Weekly Free Press, June 6, 1895

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Article Text

speaks well for the Sioux range when horses are shipped from here to the south and money made on them, and that is the kind of business we do here in all kinds of stock. Fort Pierre Fairplay: One of the most needful improvements is a mail route from Fort Pierre to Hultman due south of Fort Pierre and on the Chamberlain and Black Hills route. There are 100 to 200 families along the line of such a route who now have to drive from ten to twenty miles for mail that would be supplied by the establishing of such a route and two new postoffices between Hultman and Fort Pierre. The distance is about thirty-five miles and the line between Presho and Pratt counties is the most feasible course as there is no obstruction to a good road. Lawrence Underwood, of Huron, a brother of Stenographer Underwood of the circuit court, was visiting in the city a few days last week. Mr. Underwood was the youngest member of the graduating class in that city and was awarded first place. His brother, Leonard, agreed to make him a present of a bicycle if he should capture the graduating honors and he came up to claim the reward. He made many friends during his short stay here. The baccalaureate sermon to the graduating class, students and others interested in the Pierre university, was preached Sunday evening by Wm. M. Blackburn, D. D. LL. D., at the Baptist church. It was a mastertul address and one of the doctor's best efforts. The attendance was large, despite the inclemency of the weather. # BLUNT ADVOCATE The Pierre FREE PRESS has recently crept up to its "teens." The PRESS has seen and recorded a good deal of interesting and local history, and long may it flourish to be of use to the community and of benefit to its publishers. Brothers Dewell and Wheelon are energetic and pushing and well deserve prosperity. The school board met Monday night to elect teachers for the coming year. Those chosen are Prof. French, superintendent; Miss Ida Hatch, principal; Mrs. Farr, Misses French and Willsey and Mrs. Orr, for the Central building. Mrs. Horr and Miss Stone for the Fourth ward, and Miss Pierce for the First ward. A caravan of several families passed through the city Saturday from Sioux Falls on their way to Oregon. Usually the people who leave the state for a better location are glad enough to get back again. There is always a certain class of people who are willing to exchange hope for certainty. We notice by the Fort Pierre Fairplay that Dr. W. P. Wimmer has lately purchased 250 head of range cattle, which he has branded and driven out to his ranch on Lance creek. The doctor is constantly adding to his flocks, pinning his faith on the great stock industry. A number of our prominent citizens were called upon to deliver the Memorial day addresses in different places throughout the state. Pierre has many efficient speakers and their services are in great demand. Attorney General Crawford has returned from Iowa City, Iowa, where he went to leave his children the coming summer. Miss Lavinna Robinson, his sister-in-law, accompanied the party. The public schools closed Friday for the regular summer vacation. The average attendance during the past year was 311 scholars daily. Over 400 have been enrolled during the year. H. W. Young, of Cresco, Iowa, arrived last week. Mr. Young is interested in the settlement of the affairs of the First National bank at Fort Pierre, which suspended some months ago. Mrs. E. W. Menaugh, accompanied by little Miss Gertrude, arrived Saturday morning from Salem, Ind., for a several months' visit. Mrs. Menaugh is a sister of Kemp brothers. The dedication of the New Baptist church will occur on Sunday, June 16, at 11 o'clock. The General Baptist association of South Dakota meets here on Friday, June 14. Mrs. H. A. Warneke departed Monday morning for an extended visit with relatives and friends at Waverly, Iowa. She was accompanied by her daughter, Miss Nellie. The wives of members of Pierre Masonic Lodge and Chapter are requested to meet at the Locke hotel parlors on Saturday afternoon, June 8, at 3 o'clock, sharp. E. J. Warner, of the mission at Fort Bennett, accompanied by Mr. and Mrs. Parmelee, of Rosebud agency, was in the city last week on business and pleasure bent. Judge Gaffy and Court Stenographer Underwood departed for Ipswich Monday morning, where they will hold the Edmonds county term of court. The ladies of the Methodist church and Catholic church are serving ice cream and lunch to the visiting delegates and members to the encampment. H. P. Walsh came in last week with a