Bank of Woonsocket - Woonsocket, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 7, 1891
Location: Woonsocket, South Dakota (44.054, -98.276)

Metadata

Model: gpt-5-mini
Short Digest: 66677e4a

Response Measures

None

Description

Newspaper (The Indiana State Sentinel, 1891-01-07) reports the bank as 'failed' and its president arrested; liabilities $20,000 and assets small. No mention of a depositor run; bank failure/receivership implied. Date taken from publication.

Events (2)

1. January 7, 1891 Receivership

Newspaper Excerpt: Leon L. Stevens, president of the failed bank of Woonsocket, S. D., has been arrested. The liabilities are $20,000 and assets small.
Source: newspapers

2. January 7, 1891 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank described as 'failed' with liabilities of $20,000 and only small assets (insolvency).
Newspaper Excerpt: Leon L. Stevens, the pioneer in introducing American hog products in England, died at Liverpool. ... Leon L. Stevens, president of the failed bank of Woonsocket, S. D., has been arrested. The liabilities are $20,000 and assets small.
Source: newspapers

Newspaper Articles (1)

1. January 7, 1891 The Indiana State Sentinel Indianapolis, IN

Article from The Indiana State Sentinel, January 7, 1891

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Article Text

nies that his works will be shut down, and says no great number of men will be discharged by the trust. Charles Banford, the pioneer in introducing American hog products in England, died at Liverpool. The miners in the Broad Top and East Broad Top bituminous coal fields of Pennsylvania are on a strike. F. E. Dubedot of F. E. Dubedot & Son, stock brokers of London, was officially adjudicated a bankrupt. S. A. Kean, the Chicago banker, offers to pay 35 cents cash and 15 cents secured if legal proceedings are stopped. Colorado people have taken steps to prove that the government has no right to to refuse the free coinage of silver. The men at the West End mines, Springfield, III., are on a strike, and the operators threaten to shut down the mines. Thursday 1,500 miners in the Phillipsburg and Beach Creek districts of Pennsylvania will probably strike for an increase. The Norwegian ship Struan from Port Discovery for Melbourne was abandoned Dec. 15. Her crew was taken to San Fran cisco. The Trenton pottery manufacturers have ordered a reduction of 33} per cent. in wages, and a national strike may be ordered. The long talked of divorce has been granted to Mme. Eyraud, wife of Michael Eyraud, the convicted murderer of Gouffe. The government press at Ottawa urges the settlement of the Berhing sea difficulty by the purchase of Alaska by the Dominion. Business and labor circles in South Chicago are greatly alarmed at the prospect of a prolonged shut-down of the Illinois steel works. Leon L. Stevens, president of the failed bank of Woonsocket, S. D., has been arrested. The liabilities are $20,000 and assets mall. Secy. Windom in a Chicagocase decided that an alien could not beemployed nominally as a sailor while performing an officer's duties. The Northwestern traveling men's association at Chicago elected George J. Reed president and N. J. Shinn vice-president for Indiana. The receipts of Egyptian cotton at Cairo to date amount to 2,700,000 cantars, against 2,200,000 cantars at the corresponding date last year. Those opposed to the present antibucket shop policy bave put a ticket in the field for all officers of the board of trade except president. The Illinois Steel company claims it shut down its works merely for repairs and to adjust a wage scale, which will be lower than that now paid. The Truitt block, and stores of Frank Powers & Co., general dealers, John Shafer, groceries and S. L. Snow, hardware, at Noble, Ill., burned. St. Louis butchers have fully decided to erect a $100,000 abattoir and do their own killing, SO that the Big Four's deal for the stock yards will not affect them. The fight between those who favor and those who oppose the continuance of the war on the bucket shops is waxing very hot on the Chicago board of trade. M. W. Dubois, the cattle man of Elgin. III., places his liabilities at $400,000, and assets at $1,300,000. He will probably effect a settlement with his creditors. Schedules in the assignment of the Colbrun Chauncey company, New York brokers, show liabilities, $200,147; nominal assets, $710,223, and actual assets, $10,000. Fire at Clarence, Ia., destroyed the stores of Hecht & Thorn, Hanna & Co., J. L. Escher & Co., and Reichart's agricultural store. Loss$35,000, insurance Smallpox is raging alongthe Rio Grande in both Mexicos, and a strict quarantine is being maintained. The Mexican government will use soldiers to compel vaccination. Advices from Uganda state that in a recent conflict on the irontier the Chr Stian forces defeated the Moslems and that peace has been established throughout the country. The selling price of billets for the ensuing three months was fixed at $27 per ton. Under the sliding scaie adopted two years ago this will reduce the wages of the 2,000 employes of the Homestead mills over 10 per cent. The receiver's statement of the North River bank of New York show: Assets, nominal, $2,436,944; liabilities, $2,255,663 ; surplus assets, nominal, $181,281. Actual liabilities, $2,255,693; assets, $1,835,103; deficiency, $420,559. It appears that Page, Cary & Co., of which ex-Congress nan D. R. Page is the head. owes the bank half a