Scandia Bank (Minneapolis, MN)

Episode Information

Episode UID
2156251891164
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
215625189 hash
Start Date
December 28, 1896
Location
Minneapolis, Minnesota (44.980, -93.264)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9e60d8e99c06cc3f

Response Measures

None

Description

Assets largely real estate and unable to realize value; receiver appointed Feb 1897.

Events (3)

1. December 28, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Loaded up with real estate that could not be realized; depression led to temporary suspension that became permanent.
Newspaper Excerpt
The Scandia bank, of this city, closed its doors this afternoon.
Source
newspapers
2. December 29, 1896 Other
Newspaper Excerpt
Scandia Bank Suspends. MINNEAPOLIS, Dec. 29.-The Scandia bank has suspended. It was ... loaded up with real estate on which it could not realize.
Source
newspapers
3. February 17, 1897 Receivership
Newspaper Excerpt
order made and filed in this court, by the court, in the matter of the receivership of the Scandia Bank of Minneapolis, on the 17th day of February, 1897
Source
newspapers

Newspaper Articles (21)

Article from The Herald, December 29, 1896

Click image to open full size in new tab

Article Text

NEWS OF THE MORNING By Telegraph: Rain is likely today with frost at night. Six-day bicyclists get to work at Washington. Governor Budd completes his message to the legislature. The famous Santa Fe receivership case knocked out; railroad notes. Mme. Stambouloff creates a sensation at the trial of her husband's alleged murderers. The state department will act regarding official annoyance of American traders in Colombia. Spain will accept the good offices of the United States to propose conditions to the Cuban insurgents. The number of killed at the Birmingham railroad disaster admitted to be 24, and claimed to be still larger. A serious hitch in the Venezuelan treaty matter; Venezuela insists upon the production of the complete treaty. A Kansas county goes into insolvency. The Scandia bank of Minneapolis fails; other business disasters reported. Paint and dye manufacturers and wine growers have a hearing before the committee on ways and means; each wants more tariff.


Article from Birmingham State Herald, December 29, 1896

Click image to open full size in new tab

Article Text

FINANCIAL. Macon, Ga., Dec. 28.-The wholesale whisky house of the Siecel & Wolff company has been closed under mortgages held by the Exchange bank of this city to the amount of $20,000. It is said the assets of the company will cover this indebtedness Mr. Siecel, the senior member of the firm charges Jake Wolff, the secretary and treasurer with being a defaulter. Wolff has been absent a week and cannot be located. The failure is due in part to this alleged shortage. Superior, Wis., Dec. 8.-Anticipating a run today the Bank of Superior did not open for business this morning. Henry S. Butler is assignee and has assumed charge of the Bank's affairs. The failure is due to poor business and heavy withdrawals since recent failures in St. Paul, Chicago and this city. The capital of this bank was $25,000 with surplus of $6,000. The deposits were nearly $100,000, including $13,210 of city funds. This makes nearly $30,000 of public funds tied up in a week. Officials of the bank say they will pay in full Minneapolis, Minn, Dec. 28.-The Scandia bank, of this city, closed its doors this afternoon. It was organized some fifteen years ago by Mons. Grinager, a prominent Scandinavian politician of this state who died in 1893. Its president is R. Sunde, who came to Minneapolis ter years ago from Wilmar, Minn., where he had made quite a fortune as a money lender. The last obtainable statement of the condition of the bank was made Oct. 6 last. It showed loans and discounts amounting to $189,288 and deposits aggregating $225,337 Its business has been almost wholly with Scandinavians. Marquette, Mich., Dec. 28.-Louis Grabower, the leading dry goods merchant of this city and having a large branch store at Baraga, failed this morning. His store being closed under foreclosure of chattel mortgages aggregating $22,000. No statement of assets and liabilities has yet been made. 1 Chicago, Dec. 28.-The Excelsior Machine and Boiler Works company, Western avenue and Sixteenth street, failed today. The company made an, assignment in the county court to the Equitable Trust company. The assets of the corporation are $40,000 and the liabilities are said to be about the same. The only cause assigned for the failure is hard times and business depression. The assignee took charge of the works. I Cincinati, Dec. 28.-George A. Grassell & Co., dry goods dealers. assigned today. They have been in business for twenty years. Assets $20,000; liabilities $30,000. VOLUNTARY LIQUIDATION. Kansas City, Mo., Dec. 28.-The McCoy Banking company, of Independence, Mo., went into voluntary liquidation today. The reason given is that its president, William McCoy, is too advanced in years to manage its affairs longer. The capital stock of the bank is $50,000. On August 10, when the last report was made it owed to its denositors $55.180


Article from The Madison Daily Leader, December 29, 1896

Click image to open full size in new tab

Article Text

Scandia Bank Suspends. MINNEAPOLIS, Dec. 29.-The Scandia bank has suspended. It was one of the smaller banks of the city, and was loaded up with real estate on which it could not realize.


Article from The Saint Paul Globe, December 29, 1896

Click image to open full size in new tab

Article Text

SCANDIA BANK CLOSES. Officials Confident Depositors Will Be Paid in Full, The Scandia bank of Minneapolis, located at 401 Cedar avenue, closed its doors at noon yesterday. A notice was posted by the president of the institution, R. Sunde, stating that, owing to depression, business was temporarily suspended, but that there was every probability that all depositors would be paid in full. Superintendent of Banks W. C. Kenyon was early on the scene and added a notice that he had assumed charge of the books and records of the bank. It was officially estimated that the liabilities of the institution would probably aggregate $300,000. The assets consist largely of real estate, and, with a reasonable realization, will net, it is thought, above that amount, possibly reaching $350,000. The last published statement of the bank was Oct. 6, and was as follows:


Article from New-York Tribune, December 30, 1896

Click image to open full size in new tab

Article Text

MORE BANKS GO DOWN. TWO SUSPENSIONS IN MINNEAPOLIS THE COLUMBIA NATIONAL AND THE WASHINGTON SHUT THEIR DOORS-THE FAILURES START A FLURRY. Minneapolis, Dec. 29.-The Columbia National Bank, whose president is Charles Kittleson, exState Treasurer. and whose cashier is Joseph Bobleter, also an ex-State Treasurer, failed to open its doors this morning, and George M. Cofiln, Deputy-Controller of the Currency, who happened to be in the city, took charge. Cashier Bobleter said that the liabilities, not including the capital stock. etc., and including principally deposits. amount in round numbers to $247,000. while the assets, mostly notes, amount to $450,000. He said that he had no doubt but that the depositors would in time be paid in full. The State is creditor to the amount of $16,000 and the county to about $5,000. The city had $1,200 on deposit. At the present time, according to Cashier Bobleter, there is $33,000 cash in the vault, and $100,000 will be collected within the next thirty days. The suspension was ordered for the purpose of protecting the majority of the creditors. The bank's capital is $200,000. The suspension of the Scandia yesterday and the Columbia this morning created consternation among the patrons of the Washington Bank, and such a run ensued that the bank was compelled to close its doors shortly after noon. Depositors drew their checks directly at the bank and through the clearing-house at such a rate that it was evident that the interests of all the depositors demanded suspension of business The bank knew that its strength would be sorely taxed to-day. and had made arrangements to get $50,000 in cash. which would have tided it over safely. but the money was not forthcoming this morning. and after a vain attempt to stand the demands, Cashier Brecke telephoned Bank Examiner Kenyon that the off!cials had decided to close the bank, and asked him to take charge. Cashier Breck said this afternoon that, aside from the matter of cash on hand. the bank was in excellent shape. Exactly what will be done has not yet been determined It is likely that the suspension will be only temporary, as the resources of the bank are in such shape, according to Mr. Breeke, that its depositors can be paid in full in a comparatively short time. and 50 cents on the dollar within two months. In round numbers the liabilities are $500,000. and the assets $600,000. Of the latter, only $14,500 is real estate. The bank had some city deposits, $3,000 of State money and $4.000 of the county's The bank officials are: President, A. C. Haugan, who is at present City Treasurer: vice-president. K.S.E. Johnson: casnier. O. E. Brecke. The bank's loans and discounts are $507,145. Its deposits are $458,000. and its capital stock is $100,000. The announcement of the failure of the Columbia and Washington banks caused a considerable flurry at nearly all of the other banks of the city. The biggest run was on the Farmers and Mechanics" Bank, the largest savings institution in the Northwest. with deposits of over $6,000,000. This bank is said to be entirely safe. It stood a constant run of eight days during the panic of 1893. The correspondent in New-York of the Columbia National Bank, of Minneapolis, was the Hanover National Bank, the cashier of which, William Halls said: "The Columbia Bank failed because it could not borrow money. The day after the failure of the Bank of Minnesota it asked us for money. and 1+ asked '18 again the next day. but we refused The bank's account with 113 had been declining for five months, and we knew it was weak." The correspondent In New-York of the Washingfor Bank of Minneapolis was the Seaboard Na tional Bank, the vice-president of which Stuart G. Nelson, sail: "The Washington Bank was not strong It owes US $2,700. which it borrowed sixty days ago We hold $15,000 in collateral against the loan."


Article from The Morning News, December 30, 1896

Click image to open full size in new tab

Article Text

MONEY MAD IN MINNEAPOLIS. TWO MORE BANKS FORCED TO CLOSE THEIR DOORS. The Columbia National and the Washington Bank the Institutions Involved-The Closing of the Former Precipitated n Run on the Latter-Both Institutions Expect to Pay Their Creditors in Full-Failures in Other Cities. Minneapolis, Minn., Dec. 29.-The Columbia National Bank, whose president is Charles Kittleson, ex-state treasurer, and whose cashier is Joseph Bobleter, also an ex-state treasurer, failed to open its doors this morning and George M. Coffin, deputy controller of the currency, who happened to be in the city, took charge. Cashier Bobleter said that the liabilities, not including the capital stock, etc., and including principally deposits, amount in round numbers to $247,000, while the assets, mostly notes, amounted to $450,000. He said that he had no doubt but that the depositors would in time be paid in full. The state is creditor to the amount of $16,000 and the county to about $5,000. The city had $1,200 on deposit. At the present time, according to Cashier Bobleter, there is $33,000 cash in the vault, and $100,000 will be collected within the next thirty days. The suspension was ordered for the purpose of protecting the majority of the creditors, The bank's capital is $200,000. The suspension of the Scandia Bank yesterday and the Columbia this morning created consternation among the patrons of the Washington Bank, and I such a "run" ensued that the bank was compelled to close its door shortly after noon. Depositors drew their checks directly at the bank and through the clearing house at such a rate that it was evident that the interests of all the depositors demanded the suspension of business. The bank knew that its strength would be sorely taxed to-day, and had made arrangements to get $50,000 in cash, which would have tided it over safely, but the money was not forthcoming this morning, and after a vain attempt to stand the demands, Cashier Brecke telephoned Bank Examiner Kenyon that the officials had decided to close the bank, and asked him to take charge. Cashier Brecke stated this afternoon that aside from the matter of cash on hand, the bank was in excellent shape. Exactly what will be done has not yet been determined. It is very likely that the suspension will be only temporary, as the resources of the bank are in such shape, according to Mr. Brecke, that its depositors can be paid in full in a comparatively short time, and 50 cents on the dollar within two months. In round numbers, the liabilities are $500,000, and the assets $600,000. Of the latter only $14,500 is real estate. The bank had some city deposits, $3,000 of state money and $4,000 of the county's. The banks officials are: President, A. C. Haugan, who is at present city treasurer; vice president, K. S. E. John; cashler, O. E. Brecke. The bank's loans and discounts are $507,145. Its deposits are $458,000, and its capital stock $100,000. The announcement of the failure of the Columbia and Washington banks caused a considerable flurry at nearly all of the other banks of the city. The biggest run was on the Farmers and Mechanics Bank, the largest savings institution in the northwest, with deposits of over $6,000,000. This bank is said to be entirely safe. It stood a constant run of eight days during the panic of 1893.


Article from The Salt Lake Herald, December 30, 1896

Click image to open full size in new tab

Article Text

Minneapolis, Dec. 29.-The Columbia National bank, whose president is Charles Kittleson, ex-state treasurer, and whose cashier is Joseph Bobleter, also an ex-state. treasurer, failed to open its doors this morning, and George M. Coffin, deputy comptroller of the currency, who happened to be in the city, took charge. Cashier Bobleter said that the liabilities. not including the capital stock, etc., and including principally deposits, amount in round numbers, to $247,000, while the assets mostly notes, amounted to $450,000. He said he had no doubt the depositors would in time be paid in full. The state is a creditor to the amount of $15,000 and the county about $5,000. The city had $12,000 on deposit. At the present time, according to Cashier Bobleter, there is $33,000 cash in the vault and and $100,000 will be collected within the next 30 days. The suspension was ordered for the purpose of protecting the majority of the creditors. The bank's capital is $200,000. CAUSED A R.UN. The suspension of the Scandia yesterday and the Columbia this morning created consternation among the patrons of the Washington bank, and such a run ensued that the bank was compelled to close its doors shortly after noon. Depositors drew their checks directly at the bank and through the clearing house at such a rate that it was apparent that the interests of all the depositors demanded a suspension of business. The bank knew that its strength would be sorely taxed today, and had made arrangements to get $50,000 in cash, which would have tided it over safely, but the money was not forthcoming this morning and after a vain attempt to stand the demands cashier Brecke telephoned Bank Examiner Kenyon that the officials had decided to close the bank and asked him to take charge. THE OLD STORY. Cashier Brecke stated this afternoon that aside from the matter of cash on hand the bank was in excellent shape. Exactly what will be done has not yet been determined. It is quite likely that the suspension will be only temporary as the assets of the bank are in suchshape, according to Mr. Brecke, that its depositors can be paid in full in a comparatively short time and 50 cents on the dollar within two months. In round numbers the liabilities are $500,000 and assets $200,000. Of the latter only $14,500 is real estate. The bank had some city depositors, $300,000 of state money and $4,000 of the county's. The bank's officials are: President, A. C. Haughan, who is at present city treasurer; vicepresident, K. S. E. Johnson; cashier, O. E. Brecke. LOANS AND DISCOUNTS. The bank's loans and discounts are $507,145. Its deposits are $485,000 and its capital stock $100,000. The announcement of the failure of the Columbia and Washington banks caused a considerable flurry at nearly all of the other banks of the city. The biggest run was on the Farmers' and Merchants' bank, the largest savings institution in the northwest. with deposits of over $6,000,000, this bank is said to be entirely safe. It stood a constant run of eight days during the panic of 1895.


Article from The Saint Paul Globe, January 1, 1897

Click image to open full size in new tab

Article Text

OBJECT TO BYERS CREDITORS OF THE SCANDIA BANK INDIGNANT AT THE COURT'S ACTION. ROAST ON THE RECEIVER. REASONS SET FORTH WHY APPOINTMENT OF A NEW MAN IS SOUGHT. WASHINGTON MAY REORGANIZE. Its Affairs Said to Be in Most Favorable Condition-Minneapolis Matters. "Byers as receiver won't do," was the unanimous expression of the depositors of the defunct Scandia bank, registered in no uncertain way a a mass meeting of the bank's creditors, held at 1805 Franklin avenue south, last night. The meeting had been called to take steps looking to the removal of the receiver and at 8 o'clock not less than 1,000 men and women, for there were a few women on deck, were present. The large hall was packed to suffocation, not even the secretary having room to sit down, and the crowd which stood on the sidewalk and in the street resembled very much a run upon the bank the day it closed its doors. William K. Hicks was chosen chairman of the meeting, and Lewis Gjertsen secretary. The objects of the meeting were stated by the chair, after which a series of resolutions were read by the secretary, as follows: To the District Court of Hennepin County, in the mater of the Receivership of Scandia Bank of Minneapolis: We, the undersigned creditors of the above named bank, do hereby petition the court to appoint as receiver of said bank a person in whom the creditors have confidence, and that the person now appointed by the court may be removed: that we have no confidence in him, and that his financial record is such that we do not hesitate to say that it is unreasonable to appoint a man for such a position against whom judgments of thousnds of dollars are entered of record unsatisfied, and who is debtor to said bank in the sum of $2,000 on a note which is past due since 1893, and is protested for nonpayment. Now, therefore, we, the undersigned creditors of said bank, in mass meeting assembled. do hereby resolve that a committee be appointed, consisting of seven persons, to institute proceedings for the removal of said receiver, John F. Beyers, and that a person in whom we have confidence be appointed in his stead. That owing to the fact that a large majority of the creditors of said bank are of Scandinavian birth, we insist that a Scandinavian be appointed as such receiver. Dated Dec. 31, 1896. The resolution was satisfactory, with the exception of the last clause, to the effect that the person to be appointed should be of Scandinavian birth. This was unanimously stricken from the resolution. The appointment of the committee provided for to institute proceedings to remove the present appointee of the court was then taken up. On motion the chairman was authorized to appoint the committee, his nominees to be voted upon by the meeting. There was considerable difference of opinion as to whether or not attorneys should be eligible as members of this committee, but it was decided that a knowledge of law need not bar any one. The committee selected inclu led Julius A. Newgard, W. H. Hicks, Jacob Stoft, Robert Christensen, Lewis Cjertsen, D. Eagstrom and C. Birkhoffer, who were given power to suggest to the court a man for receiver, who would be acceptable to the depositors, in case Mr. Byers is removed. Several names were mentioned for the place of receiver, among whom were D. C. Bell, Jacob Stoft, Hans Simonsen, Ernest Kempe, Judge Uhland and others. D. C. Bell would seem to be the favorite. As to the choice of the seven men who have the suggesting power, none were willing to express a decided preference, and thought it would be time enough to consider that question after the court should have re-


Article from The Diamond Drill, January 2, 1897

Click image to open full size in new tab

Article Text

William M. & J. S. Van Nortwick. bankers and manufacturers, made au assignment at Batavia, III., with liabilities of $2,000,000. At the opening day in Washington of the hearings before the ways and means committee in preparation for the framing of a tariff bill representatives of hundreds of millions of dollars made brief statements of their views. Eleven cracks in the bicycle world entered a six days'. eight hours a day. international bicycle contest in Washington. Statistics from 1,388 industrial establishments in 46 states show that 52,448 less hands were employed in those es. tablishments in 1896 than in 1892. and that $19,214,448 less was paid out in wages. Frank E. Clark, for 18 years editor of the Grayville (TII.) Independent. committed suicide by taking poison. No cause is known. The Scandis bank st Minneapolis suspended payments with liabilities of $300,000. Will Robinson (colored). who Allled sweetheart in a church in Pike counMo., was taken to the penitentiary for 102 years. The large furniture house of Julius Lansburg in Washington was destroyed by fire. the loss being $160,000. The McCoy Banking company of Independence, Mo., went into voluntary liquidation with liabilities of $125,000. The Bank of Superior at Superior, Wis., closed its doors with liabilities of $100,000. By the explosion of a lamp Gregor Kirchbaum and his wife were burned to death in their home at Johnston, R. 1. One thousand Chicago saloon keepers have been compelled during the last three months to retire from business because of hard times. The state of Iowa celebrated its 50th birthday. At Stamford, Conn., Mrs. Henry Ward Beecher fell and broke her hip and may be forced to use crutches for the rest of life. She is 84 years old. At the annual meeting in Chicago-of the Northwestern Traveling Men's association William H. Cribben was electpresident. The death payments for the year amounted to $169,400. Gov. R. M. Harris, of Indian territory, has called the legislature to meet in extraordinary session at Tishmingo January 5. Lane county, Kan., has formally been declared insolvent by the county commissioners. A new counterfeit ten dollar national bank note on the Union national bank of Detroit, Mich., is in circulation. One distinguishable feature is that the back of the note is upside down. It is announced that Gov. Bradley intends to resign the office of governor of Kentucky at an early date because of failing health. The wedding of Count Adam de Moltke Huitfeldt, of Denmark, and Miss Louise Eugenie Bonaparte, daughter of the widow of the late Jerome Bonaparte, took place in Washington. The People's Electric Light & Power company's plant at Newark, N. J., was burned, the loss being $175,000. The Columbia national bank in Minneapolis closed its doors with liabilities of $247,000, and the Washington bank, a state institution in the same city, also suspended. The Commercial national bank of Roanoke, Va., closed its doors with liabilities of $100,000. William W. Whaley and wife, living near Seaviersville, Tenn., were murdered in their home by unknown persons. Henry F. Strauss, aged 72, county clerk of Langlade county, Wis., commitsuicide at Antigo. He was a defaulter to the amount of $3,770. It is officially denied at the state department in Washington that Spain has consented to grant home rule to Cuba Edward Rosa shot and killed his sweetheart, Miss Mary Brehl, at the home of her sister, Mrs. Stewart, in Forest City, S. D., and then killed himself. Jealousy was the cause. The Farmers' Trust company at Sioux City, Ia., failed with liabilities of 000


Article from Decorah Public Opinion, January 5, 1897

Click image to open full size in new tab

Article Text

NEWS OF THE WEEK Advices from Cuba state that attacks upon the suburbs in and around Havana have become a common affair now. Some nights the firing can be heard in the city proper, while the fires from burning buildings can casily be seen. The officials are sending out extra troops for guard duty. Gov. Bradley, of Kentucky says The will resign on account of ill health. A bog slide at Castle Island, Ireland, has carried a mass of bog a mile and a half wide into Lake Killarney. It is said Gomez has crossed the eastern trocha, going west. Services over the remains of Kate Field were held at San Francisco, after which the body was incinerated. The ashes will be placed in Mount Auburn cemetery, Boston. William Waldorf Astor is said to have sworn allegiance to Queen Victoria. The Russian ambassador to Turkey, acting in concert with the representatives of Great Britain, France, Italy, Germany and Austria, recently told the sultan that certain reforms must be executed in Turkey and that failure to profit by the advice would involve most disagreeable consequences. It is said the sultan refused to consent to the proposed reforms. Near Birmingham, Ala., recently, plunging down 110 feet through an iron trestle, an accommodation train on the Birmingham Mineral road landed its passengers and train crew in a death trap on the rocky bottom of the Cahawba river. Of those on board only nine escaped alive, and of these few only will recover. The number of the dead is estimated at between thirty and thirty-five. So far twentyeight bodies have been recovered. Many of the victims were burned alive. The Atlas National bank, of Chicago, decided to pay its depositors and close out its business. As a result the Van Nortwick bank at Batavia suspended. The Bank of West Superior, at West Superior, Wis., and the Scandia bank, at Minneapolis, have alsosuspended. The filibustering steamer Three Friends has been seized by the United States authorities, who will try to convict her of carrying arms and ammunition to Cuba. Thomas J. O'Mailey, alderman of the Twenty-third ward of Chicago, has been indicted for complicity in the murder of Gus Colliander, in that city on election night, 1894. Consul General Lee is again at his post in Havana. A union miner at Leadville was killed at his doorstep by non-union miners recently imported from Missouri. Trouble is anticipated. Washington authorities deny having received any notice that European powers will assist Spain in case of war over Cuba. By an explosion of fire damp in a mine at Princeton, Ind., eight or nine men were instantly killed and four injured, one probably fatally. Peter Maher whipped Steve O' Donnell in a fight at New York in just twenty-seven seconds. It is said the European powers have informed the United States government that they will not be passive if this government recognizes or encourages the Cuban insurgents. Chas. Elliott was convicted at Omaha for the murder of Guy Hutsonpiller and sentenced to prison for life. Both were formerly with the Wild West show. It is announced from both London and Constantinople that the powers have decided that they must bring coercion to bear upon Turkey to secure the needed reforms and such action is contemplated at an early day. Blue Cut, near Kansas City, made historic through the operations there of the James and Younger bands, when they were pioneers in the train robbing industry, has again been the scene of a hold-up. The St. Louis & Chicago express, which left Kansas City a few nights ago at 8:45 p. m., was flagged at Blue Cut and came to a standstill. The robbers then uncoupled the express car from the train and ran it and the engine a few miles east, where they were stopped in a cut. Then they entered the car and, overpowering the messenger, took the keys of the safe from him. In a few


Article from Warren Sheaf, January 7, 1897

Click image to open full size in new tab

Article Text

THE NEWS. Compiled From Late Dispatches. DOMESTIC. The visible supply of grain in the United States on the 28th was: Wheat, ยฃ21,443,000 bushels; corn, 18,893,000 bushels; oats, 13,476,000 bushels; rye, 996,000 bushels; barley, 4,875,000 bushels. William M. & J. S. Van Nortwick, bankers and manufacturers, made au assignment at Batavia, Ill., with liabilities of $2,000,000. At the opening day in Washington of the hearings before the ways and means committee in preparation for the framing of a tariff bill representatives of hundreds of millions of dollars made brief statements of their views. Eleven cracks in the bicycle world entered a six days', eight hours a day, international bicycle contest in Washington. Statistics from 1,388 industrial estabdishments in 46 states show that 52,448 less hands were employed in those establishments in 1896 than in 1892, and that $19,214,448 less was paid out in wages. Frank E. Clark, for 18 years editor of the Grayville (III.) Independent, committed suicide by taking poison. No cause is known. The Scandia bank at Minneapolis suspended payments with liabilities of $300,000. Will Robinson (colored), who killed his sweetheart in a church in Pike county, Mo., was taken to the penitentiary for 102 years. The large furniture house of Julius Lansburg in Washington was destroyed by fire, the loss being $160,000. The McCoy Banking company of Independence, Mo., went into voluntary ^liquidation with liabilities of $125,000. One thousand Chicago saloon keepers have been compelled during the last three months to retire from business because of hard times. The state of Iowa celebrated its 50th birthday. The Bank of Superior at Superior, Wis., closed its doors with liabilities of $100,000. By the explosion of a lamp Gregor Kirchbaum and his wife were burned to death in their home at Johnston, R.1 At Stamford, Conn., Mrs. Henry Ward Beecher fell and broke her hip and may be forced to use crutches for the rest of her life. She is 84 years old. Gov. R. M. Harris, of Indian territory, has called the legislature to meet in extraordinary session at Tishmingo January 5. At the annual meeting in Chicago of the Northwestern Traveling Men's association William H. Cribben was elected president. The death payments for the year amounted to $169,400. Lane county, Kan., has formally been declared insolvent by the county commissioners. A new counterfeit ten dollar national bank note on the Union national bank of Detroit, Mich., is in circulation. One distinguishable feature is that the back of the note is upside down. It is announced that Gov. Bradley inAends to resign the office of governor of Kentucky at an early date because of failing health. The wedding of Count Adam de Moltke Huitfeldt, of Denmark, and Miss Louise Eugenie Bonaparte, daughter of the widow of the late Jerome Bonaparte, took place in Washington. The People's Electric Light & Power company's plant at Newark, N. J., was burned, the loss being $175,000. The Columbia national bank in Minties neapolis of $247,000, closed its and doors the Washington with liabilibank, a state institution in the same city, also suspended. The Commercial national bank of Roanoke, Va., closed its doors with liabilities of $100,000. William W. Whaley and wife, living near Seaviersville, Tenn., were murdered in their home by unknown persons. Henry F. Strauss, aged 72, county clerk of Langlade county, Wis., committed suicide at Antigo. He was a defaulter to the amount of $3,770. It is officially denied at the state department in Washington that Spain has consented to grant home rule to Cuba. Edward Rosa shot and killed his sweetheart, Miss Mary Brehl, at the home of her sister, Mrs. Stewart, in Forest City, S. D., and then killed himself. Jealousy was the cause.


Article from The Abbeville Press and Banner, January 13, 1897

Click image to open full size in new tab

Article Text

Domestic. The long threatened split in Tammany Hall, New York City, came when Henry D. Purroy, with several district leaders, openly bolted the organization and announced that he would form a new Tammany. Isaac Zuker was sentenced to thirty-six years' imprisonment for arson by Judge Fursman, in the Criminal Branch of the Supreme Court, New York City. Burglars entered the branch office of the Metropolitan Insurance Company, in West Forty-second street, New York City, and after blowing open a big safe in front of an open window stole $1500 in cash and valuable jewelry. Mrs. James Abercrombie Burden, wife of a millionaire iron founder. was attacked on Fifth avenue, in New York City, in broad daylight, by a highwayman, who flourished a knife, threw her down and ran off with her pocketbook. He was captured by Policeman Young after a hot chase. The Columbia National and Washington Banks of Minneapolis. the Commercial National Bank of Roanoke, Va., and the Van Nortwick Bank at Batavia, III, closed. Fire destroyed the electric light plant in Newark, N.J., and the city and'several nearby towns were left in darkness for a right. Isnac Zuker was convicted of arson in the first degree in having planned the burning of his building in New York City in January, 1892. The Atlas National Bank, of Chicago, Ill., began liquidating its affairs, and the Dime Savings Bank, of the same city, required depositors to give ninety days' notice of withdrawals. Three masked men, armed with revolvers, entered the saloon of Mrs. Mary Bernhardt, In Chicago, at 11 o'clock p. m., and robbed the place of $450. Mrs. Bernhardt was bebind the bar when the men came in, and two patrons of the place were sitting at a table playing dominoes. Two men were killed and another was fatally shot in a general fight six miles north of Mount Vernon. Ky. The dead are A. Rowland and Jack Rigsby. The wounded man is Greeley Lear. The fight began at a merrymaking. and was fought out on the highway in Kentucky feudal fashion between opposing factions. At Superior, Wis.. anticipating a run, the Bank of Superior did not open for business. Henry S. Butler is assignee. and has assumed charge of the bank's affairs. The failure is due to poor business and heavy withdrawals since recent failures in St. Paul and Chicago. The capital of the bank was $25,000, with a surplus of $6000. The deposits were nearly $100,000, including $13,210 of city funds. More than $1,500.000 was voted to hospitals, asylums and other charitable institutions for 1897 by the Board of Estimate, of New York City. The Lehigh Mills, in South Easton, Penn., manufacturers of cotton goods, have shut down for four months. and there is said to be but little prospect of a resumption at the end of that period. Depression in business is given as the cause of the shut-down, and one hundred employes are affected. The plant was started nearly one hundred years ago, and this is the first shut-down it has experienced. City Treasurer Turner. of Boston. Mass., opened bids for $1,890,000 3ยฝ per cent. and four per cent. ten, twenty, and thirty year loans. The contract was awarded to Blake Brothers and R. L. Day. whose bid was $1,944,286 for the entire loan. The Scandia Bank, of Minneapolis, Minn., closed its doors. It was organized fifteen years ago by M. Grinager, a prominent Scandinavian politician. who died in 1893. Its President is R. Sunde, who came to Minneapolis ten years ago from Wilmar. Minn., where he had made a fortune as a money lender. Thomas J. O'Malley, a Chicago Alderman, has been indicted for the murder of "Gus" Colliander, in an election booth in 1894. A mail train from the West was robbed at one of the New York City stations and a large sum of money taken from letters addressed to New York firms. The letters, without in. closures, were found in the lower bay. Mrs. Agnes Antoinette Halpin, wife of ex. Assemblyman William Halpin, died in New York City of nervous exhaustion, collapse and gastritis, caused by the excessive use of Jamaica ginger. This habit is said to be prevalent in many places. The West End Street Railway Company of Boston, on which a strike occurred recently, discharged 700 union men, including the members of the Conference Committee and officers of the union. The Board of Directors of the Security Mortgage and Trust Company, Dallas, Texas, made application for the appointment of a receiver. The liabilitieso the company are, approximately, $2,000,000. Georgia's alleged titled convict, "Lord Beresford, as Sidney Lascelles called himself, was madea freeman by act of Governor Atkinson, who took pity upon him and pardoned him for his model conduct while in prison. The Atlas National Bank, Chicago, decided not to open its doors again, and the Clearing House will advance $600,000 tc help it pay all claims on demand. The bank has a capital of $700,000. W. C. D. Grannis is President. Thesecurities were examined and found to be ample to pay all claims in full.


Article from Barton County Democrat, January 14, 1897

Click image to open full size in new tab

Article Text

idea-that build a house you should first put up the parlors and receptions rooms, and afterwards the foundation, the cellar and the kitchen? Is the gold-standard theory of adopting a system of finances that the bankers and monied men want, regardless of what the PRODUCERS, the LABORERS-the foundation of all national prosperity-needs, thus far proving a good thing for the country? Here is a record of failures for the 15 days ending January 4, 1897: Dec. 21-National Bank of Illinois, Chicago. Dec. 21-Roseland Bank, Chicago. Dec. 21-E.S Dreyer & Co. Chicago. Dec. 21 -Wusmansdorff & Heinemann, Chicago. Dec. 22-Bank of Minnesota. St. Paul. Dec. 22-State Bank of St. Paul. Dec. 22-Union Stock Yards Bank, St. Paul. Dec. 23-Chicago Bank, West Superior, Wis. Dec. 23-Bank of West Superior, West Superior, Wis, Dec. 23-American Banking and Trust Co., Auburn, Me. Dec. 28-Dime Savings Bank, Chicago. Dec. 28--Atlas National Bank, Chicago. Dec. 28-Scandia Bank, Minneapolis. Dec. 28-Bank of Superior, Supe rior, Wis. Dec. 29-Columbia Bank, Minneapolis. Dec. 29--Washington Bank, Min8 neapolis. i Dec.29--Commercial National Bank, D Va. Dec. 30-Northern Trust Company, r Minneapolis. Dec. 30 Bankers' Exchange Bank, 1 Minneapolis. . Dec. 30 Northwestern Loan and e Building Association, Minneapolis. Dec. 30 Commercial Bank, Selma, Al. Dec. 30 Farmers' Trust Company, Sioux City, Iowa, y t Jan. 4 Germania Bank, St. Paul. y Jan, 4 Allemania Bank, St. Paul. r Jan. 4 West Side Bank, St. Paul. it Jan. 4 Minnesota State Savings e Bank, St, Paul. Jan. 4 Citizens' National Bank, r. Fargo, N. D. d Jan. 4 City Bank, Nora Springs, If Iowa, a Total amount reported, $21,354,779 c OTHER HOUSES DRAGGED DOWN BY THE e CRASH, of Dec, 22 Angus & Giudele, contract rors, Chicago. of Dec. 23 American Brewing and Y, Malting Co., Chicago, Dec. 23 George A. Weiss Malting Co., Chicago. Dec. 23 George A. Weiss, Chicago r. Dec. 28 Excelsior Machinery an t, Belting Co., Chicago, st Dec. 29 Western Paper Bag Co. iBatavia, III. a Dec. 29 Appleton Manufacturing be Co., Van Nortwick, III, ch Jan. 4 Snow & Earl Co., druggist ct supplies, Providence, R. I IJan. 4 L. W. Alet & Co., wholesal ojewelers, Chicago, Ill. SUICIDES CAUSED BY THE BANK FAILURES if Otto Wasmandorff, head of th " banking firm of Wasmandorff & Heine of mann, of Chicago, shot himself in tha of city. Suicide due to worry over th I's failure of his firm, which occurred o December 21. ry George A. Wilkins, vice president o the suspended Commercial Bank, o ds Selma, Ala., shot himself on Decembe 31, in front of the altar of St. Paul'


Article from The Irish Standard, March 6, 1897

Click image to open full size in new tab

Article Text

ORDER. STATE OF MINNESOTA, DISTRICT Court. County of Hennepin, Fourth Judicial District. Luth Jaeger, as Receiver of the Scandia Plaintiff, Bank of Minneapolis, vs. Reinert Sunde, Rasmus B. Anderson, Charles E. Vanderburgh, Lafayette Woodward, Ray B. Towne, James B. Secombe, Dora Roos, Emma D. Johnson, Alfred Menzel, C. M. Johnson, H. R. Goodnow, F. J. Goodnow, George W. Jenks, Swedish American National Bank, Harold G. Kjellesvig, Charles Kittelson, Willis S. Williams, Albert C. Amundsen, Julius E. Olson, Jennie Osmer, Mary 8. Kirkbride, Ole C. Jacobson, Matt. Jensen, Anne Grinager, Anne Marie Engebretson: Henry A. Grinager, Carrie Faegre, Alexander Grinager, William F. Grinager and Harris Norman Defendants. Grinager, Whereas, under an order made and filed in this court, by the court, in the matter of the receivership of the Scandia Bank of Minneapolis, on the 17th day of February, 1897, this action was authorized and directed under and in pursuance of Chapter 145, of the General Laws of this State, for the year 1895, for the purpose of enforcing the liability of the stockholders of the Scandia Bank of Minneapolis to the plaintiff herein, as receiver of said bank, and to the creditors of said insolvent bank who should become parties to such action; and Whereas, it being made to satisfactorily appear to the court that it is necessary and proper that the notice required and prescribed under Section 23 of Chapter 76 of General Statutes, 1878, should be given in this action; which is brought for the purpose of enforcing the liability of the stockholders of said Scandia Bank of Minneapolis to plaintiff herein as receiver of such bank, and to the creditors of said bank who shall become parties hereto, as provided under the terms of said order: Now, therefore. on motion of Charles M. Pond, Esq., the plaintiff's attorney herein, It is Hereby Ordered and Directed: That all the creditors of said Scandia Bank of Minneapolis be, and they are hereby required, within six (6) months after the date of the first publication of this order, to exhibit their claims against the said Scandia Bank of Minneapolis and become parties to this action, and that in default thereof they be preciuded and forever barred from all the benefits of the judgment which shall be rendered in this action and from any and all distributions. which shall be made under such judgment. And it is Hereby Further Ordered and Directed: That said claims shall each be exhibited by delivering to the clerk of this court, at his office, in the court house, in the city of Minneapolis, in said county, a verified complaint entitled in this action, setting out a brief description of such claims and all such complaints SO delivered to said clerk, shall be filed by him, In his said office, as one of the files in this action, and that any of the parties to this action and any of the creditors of said Scandia Bank of Minneapolis may at any time within said period of six (6) months heren mentioned, or within twenty (20) days thereafter, by a duly verified answer Interpose objections to the allowance of any claims SO exhibited: which said answer shall be delivered to said clerk and filed by him in his said office, and a copy thereof shall also be served by the parties to answering upon the attorney for the llaimant whose claim is EO objected to. And it is Further Hereby Ordered: That notice of this order be given to all the preditors of said Scandia Bank of Minneapolis by causing a copy thereof to be published once in each week for six (6) successive weeks in the "Irish Standard,' a weekly newspaper printed and published in said county of Hennepin and state aforesald, the first publication to be made on the 6th day of March, 1897; and by mailing a copy of this order to all credftors of said bank whose names and places of residence are known to the plaintiff. By the Court: ROBERT JAMISON, District Judge. March 2d, 1897. CHARLES M. POND, Attorney for Plaintiff, 709 New York Life Building. Minneapolis, Minn.


Article from The Irish Standard, March 13, 1897

Click image to open full size in new tab

Article Text

ORDER. STATE OF MINNESOTA, DISTRICT Court. County of Hennepin, Fourth Jue dictal District. Luth Jaeger, as Receiver of the Scandia Plaintiff, Bank of Minneapolis, vs. Reinert Sunde, Rasmus B. Anderson, Charles E. Vanderburgh, Larayette Woodward, Ray B. Towne, James. B. Secombe, Dora Roos, Emma D. Johnson, Alfred Menzel, C. M. Johnson, H. R. Goodnow, F. J. Goodnow, George W. Jenks, Swedish American National Bank, Harold G. Kjellesvig, Charles Kittelson, Willis 9. Williams, Albert C. Amundsen, Julius E. Olson, Jennie Osmer, Mary S. Kirkbride, Ole C. Jacobson, Matt. Jensen, Anne Grinager, Anne Marie Engebretson; Henry A. Grinager, Carrie Faegre, Alexander Grinager, WIIliam F. Grinager and Harris Norman Defendants. Grinager, Whereas, under an order made and filed in this court, by the court, in the matter of the receivership of the Scandia Bank of Minneapolis, on the 17th day of February, 1897, this action was authorized and directed under and in pursuance of Chapter 145, of the General Laws of this State, for the year 1895, for the purpose of enforcing the liability of the stockholders of the Scandia Bank of Minneapolis to the plaintiff herein, as receiver of said bank, and to the creditors of said insolvent bank who should become parties to such action: and Whereas, it being made to satisfactorily appear to the court that it is necessary and proper that the notice required and prescribed under Section 23 of Chapter 76 of General Statutes, 1878, should be given in this action, which is brought for the purpose of enforcing the liability of the stockholders of said Scandia Bank of Minneapolis to plaintiff herein as receiver of such bank, and to the creditors of said bank who shall become parties hereto. as provided under the terms of said order: Now, therefore, on motion of Charles M. Pond, Esq., the plaintiff's attorney herein. It Is Hereby Ordered and Directed: That all the creditors of said Scandia Bank of Minneapolis be, and they are hereby required, within six (6) months after the date of the first publication of this order, to exhibit their claims ugainst the said Scandia Bank of Minneapolis and become parties to this action, and that in default thereof they be precluded and forever barred from all the benefits of the judgment which shall be rendered in this action and from any and all distributions which shall be made under such judgment. And It is Hereby Further Ordered and Directed: That said claims shall each be exhibited by delivering to the clerk of this court, at his office, in the court house, in the city of Minneapolis, in said county, a verified complaint entitled in this action, setting out a brief description of such claims and all such complaints 80 delivered to said clerk, shall be filed by him, in his said office, as one of the files in this action, and that any of the parties to this action and any of the creditors of said Scandia Bank of Minneapolis may at any time within said period of six (6) months heren mentioned, or within twenty (20) days thereafter, by a duly verified answer. interpose objections to the allowance or any claims so exhibited; which said answer shall be delivered to said clerk and filed by him in his said office, and a copy thereof shall also be served by the parties EO answering upon the attorney for the claimant whose claim 1S so objected to. And it is Further Hereby Ordered: That notice of this order be given to all the creditors of said Scandia Bank of Minneapolis by causing a copy thereof to be published once in each week for six (6) successive weeks in the "Irish Standard," a weekly newspaper printed and published in said county of Hennepin and state aforesaid, the first publication to be made on the 6th day of March, 1897; and by mailing a copy of this order. to all creditors of said bank whose names and places of residence are known to the plaintiff. By the Court: ROBERT JAMISON. District Judge. March 2d, 1897. CHARLES M. POND, Attorney for Plaintiff, 709 New York Life Building, Minneapolis, Minn,


Article from The Irish Standard, March 13, 1897

Click image to open full size in new tab

Article Text

purpose of enforcing the liability of the stockholders of said Scandia Bank of Minneapolis to plaintiff herein as receiver of such bank, and to the creditors of said bank who shall become parties hereto, as provided under the terms of said order; Now, therefore, on motion of Charles M. Pond, Esq., the plaintiff's attorney herein, It is Hereby Ordered and Directed: That all the creditors of said Scandia Bank of Minneapolis be, and they are hereby required, within six (6) months after the date of the first publication of this order, to exhibit their claims against the said Scandia Bank of Minneapolis and become parties to this action, and that in default thereof they be precluded and forever barred from all the benefits of the judgment which shall be rendered in this action and from any and all distributions which shall be made under such judgment.


Article from The Irish Standard, April 3, 1897

Click image to open full size in new tab

Article Text

STATE OF MINNESOTA, Court, County of Hennepin, Fourth dicial District. Luth Jaeger, as Receiver of the Scandis Plaintis Bank of Minneapolis, vs. Reinert Sunde, Rasmus B. Anders Charles E. Vanderburgh, Lafayette Woodward, Ray B. Towne, James B. Secombe, Dora Roos, Emma D. Johnson, Alfred Menzel, C. M. Johnson, H. R. Goodnow, F. J. Goodnow, George W. Jenks, Swedish American National Bank, Harold G. Kjellesvig, Charles Kittelson, Willis S. Williams, Albert C. Amundsen, Julius E. Olson, Jennie Onmer, Mary S. Kirkbride, Ole C. Jacobson, Matt. Jensen, Anne Grinager, Anne Marie Engebretson; Henry A. Grinager, Carrie Faegre, Alexander Grinager, Willliam F. Grinager and Harris Norman Defendants. Grinager, Whereas, under an order made and filed in this court, by the court, in the matter of the receivership of the Scandia Bank of Minneapolis, on the 17th day of February, 1897, this action was authorized and directed under and in pursuance of Chapter 145, of the General Laws of this State, for the year 1895, for the purpose of enforcing the liability of the stockholders of the Scandia Bank of Minneapolis to the plaintiff herein, as receiver of said bank, and to the creditors of said insolvent bank who should become parties to such action; and. Whereas, it being made to satisfactorily appear to the court that it is necessary and proper that the notice required and prescribed under Section 23 of Chapter 76 of General Statutes, 1878, should be given in this action, which is brought for the purpose of enforcing the liability of the stockholders of said Scandia Bank of Minneapolis to plaintiff herein as receiver of such bank, and to the creditors of said bank who shall become parties hereto, as provided under the terms of said order; Now, therefore, on motion of Charles M. Pond, Esq., the plaintiff's attorney herein. It is Hereby Ordered and Directed: That all the creditors of said Scandia Bank of Minneapolis be, and they are hereby required, within six (6) months after the date of the first publication of this order, to exhibit their claims against the said Scandia Bank of Minneapolis and become parties to this action, and that in default thereof they be precluded and forever barred from all the benefits of the judgment which shall be rendered in this action and from any and all distributions which shall be made under such judgment. And it is Hereby Further Ordered and Directed: That said claims shall each be exhibited by delivering to the clerk of this court, at his office, in the court house, in the city of Minneapolis, in said county, a verified complaint entitled in this action. setting out a brief description of such claims and all such complaints so delivered to said clerk, shall be filed by him, in his said office, as one of the files in this action, and that any of the parties to this action and any of the creditors of said Scandia Bank of Minneapolis may at any time within said period of six (6) months heren mentioned, or within twenty (20) days thereafter, by a duly verified answer, interpose objections to the allowance of any claims SO exhibited; which said answer shall be delivered to said clerk and filed by him in his said office, and a copy thereof shall also be served by the parties so answering upon the attorney for the claimant whose claim IS so objected to. And it is Further Hereby Ordered: That notice of this order be given to all the creditors of said Scandia Bank of Minneapolis by causing a copy thereof to be published once in each week for six (6) successive weeks in the "Irish Standard,' a weekly newspaper printed and published in said county of Hennepin and state aforesaid, the first publication to be made on the 6th day of March, 1897; and by mailing a copy of this order to all creditors of said bank whose names and places of residence are known to the plaintiff. By the Court: ROBERT JAMISON, District Judge. March 2d, 1897. CHARLES M. POND. Attorney for Plaintiff, 709 New York Life Building, Minneapolis, Minn.


Article from The Times, April 8, 1897

Click image to open full size in new tab

Article Text

SENSATIONAL DISCLOSURES MADE A Legislative Committee Investigating Bank Failures. St. Paul, Minn., April 7.-The jointlegislative committee investigating insolvent banks in this city and Minneapolis has made public the testimony secured during the past two months. Some of the disclosures are highly sensational. As to the Bank of Minnesota, of which William Dawson, Sr., was the president, and William Dawson, jr., cashier, W. H. Lightner, one of the receivers, stated that on October 7 $135,606 was due to the bank from the Fort Dearborn National Bank of Chicago. The balance, he said, was incorrect, accounts between these two banks being falsified to the extent of $100,000. At the time of the failure of the bank there was owing to it by the officials the following sums: William Dawson, sr., about $90,000; William Dawson, jr., $59,950: R. A. Smith, $50,000, of which he has since paid $35,000. In addition to that, William Dawson, jr., was guarantor of $53,000, of which $30,000 was overdrawa. As to thecause of the failure of the bank, it was testified that William Dawson, sr., owed it $281,000. The schedules of assets and liabilities of William Dawson, jr., have been filed in the district court. The assets are placed at $239,168.78, and the liabilities, $868,452.47. The face value of the assets is much higher. By far the largest portion of Mr. Daw. son's direct liabilities consists of in dividual notes. A few of these are secured, but most of them only by the indorsement of William Dawson, sr. As to the Scandia Bank, of Minneapolis, the committee states that its failure, according to the evidence, was honest, and it may yet pay in full. The committee says that the Washington Bank, of Minneapolis, went under for want of paid-up capital, direct and indirect loans to its officers, and from a lack of supervision. Dwelling upon the affairs of the Allemania Bank, of St. Paul, the report says that the assets, or a large portion of them, were worthless. The directors, it states, were heavy borrowers, and were guilty of misstatements. As to the affairs of the Minnesota Savings Bank, of St. Paul, the committee states the officers were borrowers. directly or indirectly. to an amount more than double the capital stock.


Article from The Irish Standard, April 10, 1897

Click image to open full size in new tab

Article Text

ORDER. STATE OF MINNESOTA, DISTRICT Court, County of Hennepin, Fourth Judicial District. Luth Jaeger, as Receiver of the Scandia Plaintiff, Bank of Minneapolis, vs. Reinert Sunde, Rasmus B. Anderson, Charles E. Vanderburgh, Lafayette Woodward, Ray B. Towne, James B. Secombe, Dora Roos, Emma D. Johnson, Alfred Menzel, C. M. Johnson, H. R. Goodnow, F. J. Goodnow, George W. Jenks, Swedish American National Bank, Harold G. Kjellesvig, Charles Kittelson, Willis S. Williams, Albert C. Amundsen, Julius E. Olson, Jennie Osmer, Mary S. Kirkbride, Ole C. Jacobson, Matt. Jensen, Anne Grinager, Anne Marie Engebretson; Henry A. Grinager, Carrie Faegre, Alexander Grinager, William F. Grinager and Harris Norman Defendants. Grinager, Whereas, under an order made and filed in this court, by the court, in the matter of the receivership of the Scandia Bank of Minneapolis, on the 17th day of February, 1897, this action was authorized and directed under and in pursuance of Chapter 145, of the General Laws of this State, for the year 1895, for the purpose of enforcing the liability of the stockholders of the Scandia Bank of Minneapolis to the plaintiff herein, as receiver of said bank, and to the creditors of said insolvent bank who should become parties to such action; and Whereas, it being made to satisfactorily appear to the court that it is necessary and proper that the notice required and prescribed under Section 23 of Chapter 76 of General Statutes, 1878, should be given in this action, which is brought for the purpose of enforcing the liability of the stockholders of said Scandia Bank of Minneapolis to plaintiff herein as receiver of such bank, and to the creditors of said bank who shall become parties hereto, as provided under the terms of said order; Now, therefore, on motion of Charles M. Pond, Esq., the plaintiff's attorney herein, It is Hereby Ordered and Directed: That all the creditors of said Scandia Bank of Minneapolis be, and they are hereby required, within six (6) months after the date of the first publication of this order, to exhibit their claims against the said Scandia Bank of Minneapolis and become parties to this action, and that in default thereof they be precluded and forever barred from all the benefits of the judgment which shall be rendered in this action and from any and all distributions which shall be made under such judgment. And it is Hereby Further Ordered and Directed: That said claims shall each be exhibited by delivering to the clerk of this court, at his office, in the court house, in the city of Minneapolis, in said county, a verified complaint entitled in this action, setting out a brief description of such claims and all such complaints so delivered to said clerk, shall be filed by him, in his said office, as one of the files in this action, and that any of the parties to this action and any of the creditors of said Scandia Bank of Minneapolis may at any time within said period of six (6) months heren mentioned, or within twenty (20) days thereafter, by a duly verified answer, interpose objections to the allowance of any claims so exhibited; which said answer shall be delivered to said clerk and filed by him in his said office, and a copy thereof shall also be served by the parties so answering upon the attorney for the claimant whose claim is so objected to. And it is Further Hereby Ordered: That notice of this order be given to all the creditors of said Scandia Bank of Minneapolis by causing a copy thereof to be published once in each week for six (6) successive weeks in the "Irish Standard," a weekly newspaper printed and published in said county of Hennepin and state aforesaid, the first publication to be made on the 6th day of March, 1897; and by mailing a copy of this order to all creditors of said bank whose names and places of residence are known to the plaintiff. By the Court: ROBERT JAMISON, District Judge. March 2d, 1897. CHARLES M. POND, Attorney for Plaintiff, 709 New York Life Building, Minneapolis, Minn.


Article from The Saint Paul Globe, October 23, 1897

Click image to open full size in new tab

Article Text

M INNEAPOLIS. OFFICE 65 SOUTH FOURTH STREET. MINNEAPOLIS GLOBULES. Judge McGee granted a divorce to Philip F. Mitnor from Jennie F. Mitnor, on the ground of desertion. The defendant is 75 years of age and the plaintiff 45. A demurrer has been entered to the indictment returned against Theron H. Bly, accused of practicing medicine without a license. The demurrer will be argued Oct. 26. Mrs. R. B. Langdon received a telegram from Arizona yesterday noon, stating that Judge Truesdale is steadily improving and the highest hopes for his recovery are entertained. Judge Simpson's condition is reported by his physician as considerably improved, and although it is impossible to say how long It will be before he is entirely well, there is no doubt but that he is on the speedy road to recovery. Boutell Brothers and their salesmen enjoyed a banquet in the club room of the West hotel last evening. The event was the first of what is expected to become a regular institution with the proprietors and salesmen of this house. Mr. and Mrs. H. W. Mellen, of Juneau, Alaska, are at the Nicollet house. They have just returned from Alaska, where they went last June, and will remain here until spring, when they will again try their fortunes in the famous Klondike region. The Minneapolis Whist club opened the winter's tournament Thursday at the Commercial club. Play will be conducted under the Howell system for pair contests. Potter and Williams, of St. Paul, made the highest score, 9. Briggs and Hemphill won high score badges. The jury in the case of Luth Jaeger, as receiver of the Scandia bank, against the trustees of the Franklin Cook estate, brought in a verdict yesterday morning awarding the plaintiff judgment in the sum of $2,894. The action was brought to recover on a note. After sixteen months' confinement in the reformatory at St. Cloud, Harry Wiggins, who was sentenced for five years, was released on parole Wednesday, Oct. 13. He figured with Fred Whittaker and Henry Wyman in a series of hold-ups. The latter got fifteen years each in the penitentiary. Wiggins secured work with his old employer, A. C. Hill, proprietor of the New York Kitchen.


Article from The Saint Paul Globe, November 11, 1899

Click image to open full size in new tab

Article Text

MUST PAY TAXES. Judge Pond Hands Down an Important Decision. An important decision was rendered yesterday by Judge Pond in the case of the state against Luth Jaeger, as receiver of the Scandia Bank of Minneapolis, in which action was brought to enforce the payment or taxes on the sum of $2,485, held as assets of the bank by the receiver. In substance, the court holds that funds in the hands of a receiver of an insolvent bank are subject to taxation, the same as any other personal property. The action was brought by the receiver on the grounds that the money was in trust and that it was exempt from taxation the same as if it were on deposit. In a memorandum the court says: "It would certainly seem reasonable that after the property of such a defunct corporation has been forever passed from its control into the hands of a receiver and is no longer to be used for banking purposes, it should be as subject to taxation, the same in all respects as is personal property in the hands of a receiver of any other corporation. The powers, duties and obligations of receivers of banking corporations are substantially the same as receivers of other corporations, and no good reason can be assigned why the assets in their hands should not be subject to the same burdens."