Article Text
Receiver Put in Charge. WASHINGTON, Dec. 12.-The comptroller has appointed J. Leslie Thompson. of Sioux Falls, receiver of the Citizens' National Bank of Madison, S. D., which closed its doors Dec. 3.
20407. Citizens National Bank (Madison, SD)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 3151
- Charter Number
- 3151
- Start Date
- December 3, 1894
- Location
- Madison, South Dakota (44.006, -97.114)
Metadata
- Model
- gpt-5-mini
- Short Digest
9b6fce86
Response Measures
None
Receivership Details
- Depositor recovery rate
- 17.3%
- Date receivership started
- 1894-12-12
- Date receivership terminated
- 1897-10-30
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 5.6%
- Share of assets assessed as doubtful
- 69.9%
- Share of assets assessed as worthless
- 24.5%
Description
The bank closed its doors on Dec 3, 1894 and the Comptroller appointed a receiver (J. Leslie Thompson) Dec 12, 1894. Articles link the institution to the broader Taylor/state treasurer defalcation and cashier misconduct, indicating bank-specific adverse information leading to failure. No article describes a depositor run or later reopening.
Events (4)
1.
April 10, 1884
Chartered
- Source
- historical_nic
2.
December 3, 1894
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank closed Dec 3, 1894 amid insolvency tied to state treasurer Taylor's defalcation and related cashier misconduct; articles discuss investigations and receiver appointment.
- Newspaper Excerpt
- the Citizens' National Bank of Madison, S. D., which closed its doors Dec. 3.
- Source
- newspapers
3.
December 12, 1894
Receivership
- Source
- historical_nic
4.
December 12, 1894
Receivership
- Newspaper Excerpt
- The comptroller has appointed J. Leslie Thompson. of Sioux Falls, receiver of the Citizens' National Bank of Madison, S. D., which closed its doors Dec. 3.
- Source
- newspapers
Newspaper Articles (12)
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THE CITY. PERSONAL ITEMS. P. N. Laine arrived from Sioux Falls. Geo. R. Farmer went west on the evening passenger. A. L. Rankin was a passenger for Howard at 4 p. m. Grant Crossman was a noon passenger returning to Fulda, Minn. H. P. Sweet of Los Angeles, Cal., departed east by the noon train. John Caldow, a merchant of Colman, transacted business in the city to-day. Mrs. Derr, who has been visiting Mrs. E. A. Rippe for reveral weeks, returned home. Wm Adams of Waseca, Mina, who has been visiting friends in this vicinity, returned home this morning. Miss Maggie Callinan arrived from Austin, Minn., this evening and will again make her home in Madison. Mrs. H. Jacobshagen, who has been visiting with Mrs. Chas. Bergstresr for a week, returned home to Willow Lakes. T. L. Wood, an old-time resident of Madison. now à citizen of Iowa, is in the city transacting business and visiting friends. Miss Mary Jones of Marshall, Minn., is in the city visiting her mother, Mrs. Morgan, and may conclude to remain here permanently. J. Leslie Thompson of Sioux Falls, appointed by Comptroller Eckles to the receivership of the Citizens National bank in this place, arrived last evening and assumed his duties. We have just received a full line of fancy chinaware, just the thing for Xmas presents. Call and examine. MOFFIT & CLINE. The best quality of baled hay at the Farmers' warehouse, $8.50. Fresh milch cow for sale. O. S. Merager, Wentworth.
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Receiver For a Medison Bank. J. Leslie Thompson of Sioux Falls, was appointed receiver of the Citizen's National Bank of Madison, by Comptal er Eckels.
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ANOTHER SHOCK. WITHDRAWAL OF $2,150,000 FROM THE SUB-TREASURY. The Full Tide of Gold Exportation Seems to Have Set in-The Treasury Balance. Washington, Dec. 13.-The net gold balance in the treasury received another heavy shock by the withdrawal of $2,150,000 from the sub-treasury in New York, which leaves a true balance of $103,378,475. Of this amount withdrawn only $1,300,000 is thought to be for export. The full tide of the gold exportation seems to have set in, and when it will cease is the problem which the treasury officials do not care to discuss. The cash balance in the treasury was $155,571,782. So far this month the expenditures of the treasury department exceed the receipts by $4,204,530, making a total deficit, since July, 1894, the beginning of the fiscal year, of $26,499,645. The comptroller of currency has appointed J. Leslie Thompson, of Sioux Falls, receiver of the Citizens' National bank, of Madison, S. D., which closed its doors December 3.
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NEWS ITEMS. Earthquakes are still shaking the New Hebrides. Another break in the Russian ministry-Tchikhatchoff has resigned. There will be a big entertainment at the Ohio penitentiary. Christmas. W. L. Corrigan, a brother of Archbishop Corrigan, has become insanc. The Coshocton (0.) opera house was badly damaged by fire Friday morning. Baroness De Rothschild. widow of the late head of the Frankfort house, is dead. Mrs. Ida Netzen drowned herself and two small children at Omaha. Demented. A young Negro, who outraged a white girl near Hope, Ark., was lynched. The president's family has abandoned Woodley and moved into the white house. Earlham college. Richmond, Ind., has passed a rule making gymnasium work compulsory. A freight train near Sioux City ran into a drove of cattle and killed twenty-two without being derailed. Bowling Green (Ky.) bakers have a bread war on. and as a result two loaves are being sold for five cents. At Pomeroy, O., Robert Campbell, aged 55, was killed in the Coal Ridge mine by a fall of slate. He leaves a family. The Kearney (Neb.) national bank has failed. The officers refuse to make a statement. The bank had $10,000 of county money. Controller Eckels has appointed J. Leslie Thompson, of Sioux Falls. S. D., receiver of the Citizens' National bank, of Madison, S. D. The jury found George Laneham, of Lime Springs, Ia., guilty of conspiracy to bribe the Cresco board of pensions' examing surgeons. As the result of a newspaper advertisement and subsequent correspondence, G. E. Wright, of Heppner, Ore., married Minnie E. Green, of Cadiz, O. John M. White, one of the most prominent men of West Virginia, is dead at St. Cloud. For three weeks he conscious and without food or drink. Elkhart (Ind.) citizens are patitioning the city council to compel the electrie railway company to use iron trolley posts through the business portion. The National Water Purifying Co. of New York, filed suit against the New Orleans Water Works Co. for $134,500, the alleged value of a filter plant. Co-operative colonies of unemployed workmen from Pittsburgh are to be established in West Virginia. Similar colonies will also be started in Michigan, The statement of the Atchison railroad for the first week in December shows a decrease of $26,210 as compared with the receipts for the same month last year. A masked mob at Fort Jones, Cal.. took Wm. Dean, an Indian who murdered Wm. Barmore, from the custody of Constable Dixon and hanged him to a derrick. The directors of the Western Union Telegraph Co., at their meeting Wednesday, declared the regular quarterly dividend of 1/4 per cent., payable January 1, 1895. Judge Dallas filed an opinion in the United States circuit court, at Philadelphia, granting a motion for receiver for the Mutual National Bank and Investment Co. An assassin shot at Sam Lazzio in his bed at Houston, Tex., but fatally wounded his little daughter. Assailant supposed to be a Negro who had quarreled with Lazzio. Third Vice President Baldwin, of the Southern Railway Co., says he has no fear whatever of a strike of the employes on the system as a result of the time and pay schedule. Daniel M. Robertson, a carpenter, 49 years old, born at Fredericton. Prince Edward's Island, of respectable parents, was hanged Friday for the murder of his wife, September 9, 1893. In the United States court of appeals at Chicago, President Geo. McDonald, of the Guarantee Investmentand Bond Co., was remanded to the custody of the marshal to serve eleven months in jail. W. B. Simpson, a prominent jeweler of Holden, Johnson county, Mo., died Wednesday morning of a broken heart. His 18-year-old son was convicted of embezzlement and sent to prison for two years. A petition formidable in size, numbering 133 printed pages, consisting largely of exhibits and signed by Wm K. Tubman, was Friday presented in the house for the enforcement of the anti-trust law. The democrats of Muncie, Ind., held an election Wednesday and selected as their next postmaster Edward Tuhey who received over half of the 1,082 votes cast. Ephraim Smell and Eugene Kelly were the other candidates. The directors of the American Bell Telephone Co. Wednesday declared the regular quarterly dividend of 3 per cent., and an extra dividend of 1½ per cent., the latter "out of the surpius earnings of the six months ending December 31." Sam Ford. who lives in Noxubee county, Miss., ten miles from Macon, enraged because his wife refused to live with him, sent a bullet through
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# THE LEGISLATIVE MILL. The senate has killed bills appropriating 40,000 acres of land for an insane asylum at Redfield and the same for the Springfield normal school, also the bill allowing county commissioners to deposit public funds in banks subject to interest, and the Kelley automatic ballot box bill. The joint resolution calling on Nebraska for a commission to locate the boundary line between the two states passed. The house passed the big irrigation bill, the bill providing that the auditor shall issue warrants only to the amount of appropriations for the current year and a joint resolution for a constitutional amendment increasing the limit of state debt to $350,000. The divorce bill has been favorably reported but stands so far down on the calendar that it has a poor show of passing. The unhappy fate of the judges salary bill also casts a shadow across the pathway of any bill intended mainly to put money into some one's pocket. The work of the Taylor investigating committee is drawing to a close but in quite a sensational way. Following up the arrest of McCoy for complicity with Taylor he has been served with attachment papers to prevent him from disposing of any moneys or property now in his possession. Cashier Humphrey of the Redfield bank is also recalled and will be dealt with summarily for giving false testimony in his former hearing. He then admitted he had made a false certificate to the public examiner last April and the other day he swore point blank that he had not done virtually the same thing to Ruth's bank at De Smet when he had. In addition to this legendary testimony the presence of ex-State Treasurer Smith and Receiver J. Leslie Thompson of Madison is desired. As Mr. Smith is just on his way back to England, his former partner in the banking business J. A. Trow was summoned to Pierre, perhaps in his stead, and perhaps, anyway. The idea of summoning Smith is if possible to ascertain the truth or falsity of the report that he was at the time he turned the office over to Taylor short to the state in the sum variously estimated from $8,000 to $25,000. Smith was president of the Citizens National bank at Madison while Thompson is the receiver of the institution. It is charged as well that there is a letter in existence said to have been written by Taylor in which he offered to loan the bank sufficient funds in order to tide over its difficulties. It is known that Taylor actually did negotiate a loan for the bank and it is proposed to ascertain whether this money belonged to the state or to private parties.
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receiver of the Citizens National bank, who is lazgely interested in the property. The regular monthly W. C. T. U. meeting will be held Wednesday afternoon at 3 o'clock in the basement of the Presbyterian church. Subject, "Social Purity." Following is the program: Reading, The Cross of Lead, Mrs. S. M. Jenks; paper, Mrs. W. F. Smith; What Shall We Do About It? Discussion opened by Mrs. Blackman. Ladies interested in the subject, whether members of the Union or not, are cordially invited to attend the meeting. Clerk of Court Preston, who thought to assist many of the needy ones in Lake county to a small supply of government garden seeds, and sent their names to the Mitchell land office, to day received the reply that there were no more seeds on hand, as the office bad distributed all the seeds to the fourthclass postmasters in the needy districts of the nineteen counties comprising the land office district, to be given to the poor. Following is the wording of the circu lar of State Superintendent Frank Crane on the patriotic salute to be given the national hymn: "Wednesday, April 3, has been designated as the day of patriotic expression of sympathy with the grand old national hymn, 'My Country, "Tis of Thee.' Rev. Samuel F. Smith, D. D., author of the national hymn, still lives and will join with us in singing 'America' at noon on the day above named. Will you see that the national hymn is sung and all the school and church bells in 'your city are rung for five minutes at noon on April 3, 1895?" Jerry Hurley fell into the clutches of the law rather unexpectedly this morning again. It will be remembered that about the 8th of March last the sheriff entered Jerry's joint and clapped an injunction upon his doing business there, though he failed of getting any liquor by the adroitness of the bar-tender in turning the door and lock of the vault in which the liquor was hid. Because of this failure to obtain the liquor, Jerry must have supposed the injunction failed, but it did not. The business was resumed with not less patronage, but a little more care in letting patrons in and out than formerly. This becoming known to Judge Jones, he ordered the body of Jerry Hurley brought before him on a bench warrant to show cause why he should not be held in contempt of court for continuing the business in the enjoined premises. Jerry this morning gave the officer a good and sufficient bond in the sum of $200 to appear before His Honor, Judge Jones, at Sioux Falls, Friday, April 5, to answer the charge of contempt. Dell Rapids Tribune, 30: The ladies of the Presbyterian church of Madison edited and published the Saturday edition of THE MADISON DAILY LEADER. With the assistance of the artistic printers of THE LEADER the ladies issued a very handsome paper, filled with appropriate reading matter and attractive advertisements. The business men gave the ladies a very generous patronage which will no doubt net them a good sum for their church. Of course it is much easier to get out one big paper than to edit and publish a good paper day after day or week after week, but this fact is offset in large measure by the inexperience of the ladies in the work and does not detract from their success and the credit which they deserve. Bro. Stahl, of THE LEADER, would no doubt like to issue such a paper every day in the week-and he might well do so if the business men of Madison would give him the same patronage that they gave to the ladies special edition. The more patronage the better the paper is the general rule. Business men in every town should remember this in dealing with their local papers. For rent, five-room cottage. M. W. DALY. Taylor Not Located Yet. PIERRE. S. D., April 2.-Dispatches sent from here announcing the locating in Valparaiso, Chili, of Taylor, the defaulting state treasurer, do not seem upon investigation to have good foundation. No one can be located who has heard any such report Took a Wagon Load. YANKTON, S. D., April 2.-Thieves drove a wagon up to the store of Jacobson & Thrane at Wakonda and loaded up $250 worth of merchandise, consisting of clothing. drv goods and jewelry
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LOCAL BREVITIES. City election to-morrow. Weather report: Local rain or snow and colder to-night. Tuesday fair with warmer by evening. Special meeting of Modern Woodmen at the office of W. E. Daniels to-morrow evening at 8 o'clock. The ladies of Grace church will give a supper and sale at the opera house to. morrow evening. Supper from 5 to 9 p. m. Adults, 25 cents; children, 15 cents. The clay pigeon shoot Saturday evening resulted in victories for John Moore and Ves O'Gar, the former hitting 47 out of a possible 60 and the latter 43 out of 60. The citizens' relief committee will meet at the office of Geo. R. Farmer Wednesday evening, April 17, at 8 o'clock to close up the business of the committee. Deputy Clerk of Courts Hugh Murray Saturday issued a license to wed to Albert S. Anderson, aged 33, and Nellie Erickson, 32, both of Towles, Lake county, S. D. Mrs. Sarah J. Clark, grand worthy matron, grand chapter, O. E. S., of South Dakota, will be present at the regular meeting of Madison chapter tomorrow evening. All members will take pleasure in being present W. F. Roberts, son of John Roberts of this city, and formerly a farmer boy in Chester township, has recently been promoted to the fast mail route between Minneapolis and Sioux City at a salary of $1,150 per year. The reward of dilligence. Township Assessors will meet with the county commissioners Saturday, April 27, to agree on a geueral plan of assessment of property that will be equable throughout the county. The county commissioners will also meet again next Friday. Chamberlain Journal, 11: J. Leslie Thompson, receiver of the Citizens National bank at Madison, S. D., is in the city this week making his quarterly reports to the comptroller of currency concerning the status of the defunct Chamberlain National. The Odd Fellows and Rebekahs of the city turned out in genèrous numbers last evening to the Presbyterian church to hear Dr. Wolff` discourse upon "The Good Samaritan," and were well repaid, evidently, for their visit. They all speak highly of the sermon and the evening's enjoyment of the occasion. Dell Rapids Times, 12: The committee on speakers for the encampment to be held by the Lake Madison Veterans' association has received word in answer to a letter to Senator Kyle, requesting him to de'iver an address here at that time. The senator has accepted the invitation and will arrange to be here July 2, the first day of the encampment. Bryant dispatch, 12: A sad and prob-
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# TAYLOR'S BONDS The Victims of His Peculation Appear in Circuit Court. # OUR GIRL GRADUATES Items of Local Interest Gathered To- gether During the Week Gone By. The Taylor bondsmen case came up in circuit court Tuesday morning and defense presented an order from Judge Edgerton ordering the case to be tried in the United States circuit court. Judge Gafly denied the order. The defense objected to any- one serving on the jury who had heard of the alleged defalcation of W. W. Tay- lor. The objection was overruled. The witnesses sworn for the state were Governor Sheldon, Treasurer Phillips, Auditor Hipple, Asst. Secretary of State Gillett, Deputy Treasurer Burrington, Examiner Meyers and Terrill Pattison. Attorney General Crawford read deposi- tions of F. W. Humphrey, formerly cash- ier of the Redfield National bank, and Robert Moody, president of the Aberdeen National bank, in reference to the sig- natures of the different bondsmen. W. A. Barrington and Terrell Pattison testified to the identity of the cash books of the state. This closed the first day's proceedings. The first witness called yesterday was Terrell Pattison, who testified that the amount on hand at the first Taylor term was $82,000. The attorney general then read the dep- ositions of Chas. B. Kennedy, president of the Madison State bank; J. Leslie Thomp- son, receiver of the Citizens National bank, of Madison; S. A. Trow, cashier same bank; before the letter was finished, however, the officials of the Pierre banks were heard. P. F. McClure, president of the Pierre National bank, gave deposits turned over by ex-Treasurer Smith to Taylor as $16,- 313.31, and the deposits at the end of Tay- lors' first term as $21,347.43. B. A. Cummins, cashier of the first Na- tional bank, gave as deposits turned over by Smith to Taylor as $3,323.78, and the deposits at the end of Taylor's first term as $25,931.36. A. Ewert, cashier of the National bank of Commerce, gave as the deposit turned over by Smith to Taylor as $2,578.72, and the Taylor deposit at the end of his first term as $5,959.73. The case is attracting much attention and everyone is interested in the outcome. The court room is usually crowded with eager spectators. Attorney General Crawford is making a manful fight to recover for the state and will have the hearty endorsement of every right-minded citizen in the state.
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THE CITY. LOCAL BREVITIES. A. E. Rippe returned from LaCrosse. Harry Boswell was an arrival on the train from the east. Geo. R. Farmer, Esq., was an east going passenger today. Gen. Beadle returned from Yankton on the evening passenger. The finest tables in the land hold bread made from Dwight's flour. Weather report: Generally fair and cooler tonight. Saturday fair, northwest winds. The Madison gun club will give a handicap shoot tomorrow evening for a prize given by Johnson Bros. This contest is open to everybody with a handicap to meet their ability. Conductor Callinan, wife and daughter Margaret took the east going train today for Danville. Ill., where he will visit a week and Miss Margaret will probably remain during the summer. The following former residents of Milbank, Grant county, in 1889, gathered in Madison today: A. O. Antleman, Chas. Jacquot, E. C. Hill, J. A. McGovern, S. C. Jones, Henry Neill. The boys' residences are now scattered in longitude from Minneapolis to Aberdeen. A. Frizzell, Esq., went to Sioux Falls today to bring before Judge Jones for confirmation the decision of the referee, Judge Carland, which Mr. Frizzell won in favor of his client, the receiver of the Citizens National bank as representing a large proportion of the bondholders in the contest of the E. P. Allis Co., against the Madison Electric Light and Power Co. carload of butter firkins-4,500-attracted our attention towards J. E. Turner's cold storage house and we found that Mr. Turner IS shipping about 15,000 pounds of butter and 12,000 pounds of eggs each week to the Boston market. He is buying and shipping much of the butter made in surround. ing creameries from here north to Lake Preston and west to Roswell, getting a cent better market in Boston than in Chicago for it. This is a fine thing for our farmers. Sioux Falls Press, 1: The name of the convict who escaped from the penitentiary Tuesday afternoon, as published in the Press yesterday morning, is Leonard Hallonen. He was sent from Lawrence county to serve a two and a half years' sentence for grand larceny, and, including good time, had only about eight months more to remain. He has been a trusty for some time, and was engaged at work in the prison garden when he took leg bail. It is thought he skipped out immediately after dinner and had a pretty good start before his absence was known. He is a Finlander, talking pigeon English, 23 years old and very small-not over five feet, three inches tall. Efforts to recapture him are being made.
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# Notice of Sheriff's Sale on Execution. Notice is hereby given, that by virtue of a special execution issued out of the circuit court of the second judicial circuit of the State of South Dakota, within and for the County of Lake in the case of Alex D. Forbes plaintif vs. Marie P. Sobstad, John H. Sobstad the Citizens National Bank of Madison, S. D., and J. Leslie Thompson as receiver of said Bank, Wilber P. Smith and A. W. McCready, defendants, upon a judgment for the foreclosure of the mortgage de-
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# Notice of Sheriff's Sale on Execution. Notice is hereby given, that by virtue of a special execution issued out of the circuit court of the Second Judicial circuit of the state of South Dakota, within and for the county of Lake, in the case of John Ogden, plaintiff, vs. James A. Trow, Eva N. Trow, J. Leelie Thompson, as receiver of the Citizens National Bank of Madison, S. D., and the county of Lake, South Dakota, defendant, upon a judgment for the foreclosure of the mortgage described in the complaint in said action to raise the sum of five thousand nine hundred forty dollars and twenty cents, damages and costs, with interest thereon from the date of said judgment, which said judgment was dated the 16th day of September, A. D. 1895, and was duly filed and docketed in the office of the clerk of the circuit court of the Second Judicial circuit of the state of South Dakota, within and for the county of Lake, upon the 25th day of September, A. D. 1895, I have levied upon the real estate described in said judgment and situated in the county of Lake, and state of South Dakota, and described as follows, to wit: The northeast quarter (¼) of section eight (8), in township one hundred and six (106) north of range fifty-two (52) west of the 5th P. M., except two acres previously deeded to William and Charles Kumpf, and five (5) acres deeded to Abbie Bullock, and lots one, two, three, four, five, six, seven, eight, nine and ten, of block three (3), Morning Side addition, railroad and motor rights of way, and the following tract: Commencing at a point 48.4 feet south of the southeast corner of what was formerly block 4 of Morning Side addition, now the north boundary line of the Chicago, Milwaukee and St. Paul Railway company's right-of-way, thence running easterly along said right-of-way four hundred feet from place of beginning, and from this point on the same line go east a distance of fifteen hundred and sixty-nine feet (1,569), thence northwesterly on the left angle 77 degrees 35 minutes, a distance of 900 feet to intersect with Madison motor railway right of way, thence west along the south boundary of said right of way a distance of 1,332 feet, thence due south 321 feet, thence east 302 feet, thence due south 402 feet to place of beginning, containing one hundred and twenty (120) acres more or less. And that the premises aforesaid will be sold to satisfy the said execution together with the costs and expenses of sale, in the manner directed by said judgment, at public auction to the highest bidder for cash, at the south front door of the court house, in the city of Madison, in the county of Lake, and state of South Dakota, on Saturday, the 2d day of November, A. D. 1895, at the hour of 2 o'clock in the afternoon of that day. Dated at Madison, in the county of Lake, and state of South Dakota, this 25th day of September. A. D. 1895 N. A. FOX. Sheriff of Lake county, South Dakota. A. FRIZZELL, Attorney for Plaintiff.