First National Bank (Anoka, MN)

Episode Information

Episode Type
Suspension → Closure
Start Date
April 7, 1889
Location
Anoka, Minnesota (45.198, -93.387)
Bank Type
national
Charter Number
2800

Metadata

Receivership Details

Depositor recovery rate
75.8%
Date receivership started
1889-04-22
Date receivership terminated
1896-05-04
OCC cause of failure
Fraud
Share of assets assessed as good
57.5%
Share of assets assessed as doubtful
30.7%
Share of assets assessed as worthless
11.8%

Notes

Government-record receivership date (1889-04-22) used as authoritative though press reports describe earlier closing and receiver appointment.

Events (4)

1. October 21, 1882 Chartered
Source
historical_nic
2. April 7, 1889 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier P. F. Pratt absconded to Canada after embezzling about $100,000, prompting directors to close the bank and call the examiner.
Newspaper Excerpt
The doors of the First National Bank were closed last evening and the cashier is in Canada.
Source
newspapers
3. April 22, 1889 Receivership
Newspaper Excerpt
It has been decided that the First National Bank ... shall go into the hands of a receiver; L. G. Browning (reports) named receiver; government receiver date recorded 1889-04-22.
Source
newspapers
4. April 22, 1889 Receivership
Source
historical_nic

Newspaper Articles (19)

Article from The Portland Daily Press, April 8, 1889

Click image to open full size in new tab

Article Text

Stole Nearly $100,000. ANOKA, Minn., April 7.-The doors of the First National Bank were closed last evening and the cashier is in Canada. There is a woman in the case as handsome as she is wicked. P. F. Pratt, the cashier, went to Minneapolis a week ago Thursday, complaining that he was not well. Friday the bank officials were startled to hear from the Merchants Bank of St. Paul that their account was overdrawn $20,000. Pratt had drawn about $3000 due the bank and over twice as much more on a cashier's check. The overhauling of Pratt's accounts show matters in a bad mess. Pratt is a thief to an amount of nearly $100,000. The directors decided to place the bank in the hands of the bank examiner, who will appoint a receiver to settle its affairs or close up the business.


Article from Evening Journal, April 8, 1889

Click image to open full size in new tab

Article Text

A MINNESOTA BANK RUINED

The First National at Anoka Robbed of About $100,000 by its Cashier. ANOKA, Minn., April The doors of the First National bank are closed. The cashier is in Canada, The matter has been kept quiet. The particulars, as fully as could be learned, are as follows: P. F. Pratt, cashier of the First National bank of Anoka, went to Minneapolis a week ago last Thursday, complaining that he was not well. On Saturday he telephoned the assistant cashier about some matters of business, and to the inquiry as to his health jokingly remarked: "I am sick abed and looking for watchers." On Friday the bank officials were startled by a notice from the Merchants Bank of St. Paul that the account of the First National was overdrawn $20,000. A trusted messenger was at once dispatched to St. Paul to investigate, and the discovery made that Pratt had draw. out about $8,000 due the tank and over twice as much were on his cashier's check, The bank examiner was notified of the situation, and, in company with the cashier of the Merchants National Bank of St. Paul and a Minneapolis expert, gave a hasty overhauling of the affairs, Enough was learned to show that matters were in a bad mess and that Pratt is a thief to the extent of nearly $100,000. Not knowing when or where the end might be, the directors concluded to place the bank in the hands of the bank examiner and he will appoint a receiver to settle the affairs or close up the business, It is impossible to tell how great has been Pratt's villainy and the ba k's correspondent in both Chicago and New York allowed him to overdraw to the amount of $15,000. It is probable that he has drawn to the full limit of both banks, They have been telegraphed to refuse payment on all checks signed by Pratt. In addition to this he raised about $30,000 on his personal note, indorsed by Mrs. Nelland, an aged widow résiding in Dayton, who trusted Pratt to manage her business matters to a large extent.


Article from Morning Journal and Courier, April 8, 1889

Click image to open full size in new tab

Article Text

A WESTERN DEFAULTER

The First National Bank of Anoka, Minn., Closes Its Doors - Cashier Pratt Missing With About One Hundred Thousand Dollars-A Woman at the Bottom of It. ANOKA, Minn., April 7.-The doors of the First National bank closed last evening. The cashire is in Canada. The matter has been kept quiet. On Friday the bank officers were startled to hear from the Merchant bank of St. Paul that their account was over-drawn over $20,000. A trusted messenger was at once dispatched to St. Paul to investigate and the discovery made that Pratt had drawn out about $8,000 due the bank and over twice as much more on his cashier's check. The bank officers were notified, and, in company with the cashier of the Merchant's National bank of St. Paul, and a Minneapolis expert, gave a hasty overhanling of Pratt's accounts. Enough was learned to show that matters were in a bad way and that Pratt is a thief to the amount of nearly $100,000. The directors decided to place the bank in the hands of the bank examiner and he will appoint a receiver to settle the affairs or close up the business. Mr. Pratt has a private record which is not at all enviable, and his scandalous history shows that a woman who is as pretty as she is wicked is probably the cause of his troubles. Most of the stockholders were local business men. All the money taken on deposit yesterday will be returned in full, but that previously deposited will have to await the settlement. Unless matters prove worse than expected the depositors will probably be paid in full. Salem Carpenters Will Strike. SALEM, Mass., April 7.-The carpenters will to-morrow inaugurate a general strike for nine hours as a day's work. Early in January the Carpenters' union notified the bosses that on April 1 they should demand nine hours and last Monday they began at that rate. Last evening on receiving their pay those who had only worked nine hours were docked six hours in their week's pay. It is expected that there will be at least two hundred men here out of work.


Article from Echo De L'ouest, April 11, 1889

Click image to open full size in new tab

Article Text

Un caissier en fuite

La "First National Bank" d'A noka, vient de suspendre ses paiements par suite de la fuite de son caissier M. P. F. Pratt, qui vient de passer la ligne 45ème en emportant environ 110,000 dollars. Comme toujours il y a une f-mme au fond de la chose, et au élections dernières des officiers de la banque M. Pratt avait été sur le point d'être revoqué de ses fonctions par suite du scandale qu'il avait causé par ses relations avec une jeune femme avec laquelle il vient de s'enfuir au Canada. On avait cru qu'une dimunution de salaire serait suffisante pour le punir, mais il vient de s'en venger en emportant tout ce qu'il a pu réaliser d'arger. On croit que les dépositaires SEront payés intégralement. CROOKSTON Le Senateur Sampson a été pendu en effigie dans la nuit de vendredi. Son image fut trouvée samedi matin, suspendue aux fils télégraphiques coin de la rue Main et de la deuxième rue. Le manequin était habillé de vetements noirs un bonnet de même couleur était rabattu sur ses yeux, aux pieds il portait deux mocassins. Sur le dos on lisait: Vendu et traitre; sur la poitrine. "Sentiments des citoyens de Crookston pour le Sénateur Sampson." A sept heures 1 la police enleva le manequin. A vendre a bon march4 un harmonium (cabinet tout nouf S'adrossor i


Article from The Londonderry Sifter, April 11, 1889

Click image to open full size in new tab

Article Text

ANOTHER THIEF IN CANADA

The Cashier of a Minnesota Bank Steals a Large Sum and Flees. The doors of the Anoka, Minn., First National bank are closed. The cashier is in Canada. The matter has been kept quiet. There is a woman in the case. The particulars, as fully as could be learned, are as follows: P. F. Pratt, cashier, went to Minneapolis a week or more ago, complaining that he was not well. Later he telephoned the assistant cashier about some matters of business, and to the inquiry as to his health, jokingly remarked: "I am sick abed and looking for watchers." He is still looking. Last week the bank officials were startled to hear from the Merchants bank of St. Paul that their acc unt was overdrawn $20,000. A trusted messenger was at once dispatched to St. Paul to investigate, and the discovery made that Pratt had drawn out about $8000 due the bank and over twice as much more on his cashier check. The bank officers were notified and in company with the cashier of the Merchants National bank of St. Paul and a Minneapolis expert, gave a hasty overhauling of Pratt's accounts. hough was learned to show that matters were in a bad mess, and that Pᵢ att is a thief to the amount of nearly $100,000. The directors decided to place the bank in the hands of the examiner, and he will appoint a receiver to settle the affairs or close up the business.


Article from Crawford Avalanche, April 11, 1889

Click image to open full size in new tab

Article Text

A MISSING CASHIER

P. F. Pratt Runs Away with $100,000 and a Grass Widow. The doors of the First National Bank at Anoka, Minn., are closed. The cashier, P. F. Pratt, is in Canada, having stolen about $100,000. A woman as handsome as she is wicked is in the case. The cashier went to Minneapolis recently and the authorities of the local bank received notice from the St. Paul Merchants' Bank that their account had been overdrawn $20,000. "Investigation showed that Pratt had drawn out $8,000 due the bank and twice as much more on his eashier's check. The bank examiner was called in and found that Pratt was a thief to the amount of nearly $100,000. The directors at once closed their doces, and a receiver was appointed. It is impossible to tell the extent of Pratt's villainy, as the bank's correspondents in New York and Chicago allowed him to overdraw $15,000. In addition he raised $30,000 on his personal note, indorsed by an aged widow, whose affairs he managed. The woman with whom Pratt skipped was a Mrs. Jacobsen. a grass-widow. Mrs. Pratt never suspected her husband until an anonymous note told her of his doings. She then left him and went to her home in Boston, Mass.


Article from The Telegraph-Courier, April 11, 1889

Click image to open full size in new tab

Article Text

A MISSING CASHIER

P. F. Pratt Runs Away with $100,000 and a Grass Widow. The doors of the First National Bank at Anoka, Minn., are closed. The cashier, P. F. Pratt, is in Canada, having stolen about $100,000. A woman as handsome as she is wicked is in the case. The cashier went tc Minneapolis recently and the authorities Of the local bank received notice from the St. Paul Merchants' Bank that their account had been overdrawn $20,000. Investigation showed that Pratt had drawn out $8,000 due the bank and twice as much more on his cashier's check. The bank examiner was called in and found that Pratt was a thief to the amount of nearly $100,000. The directors at once closed their doors, and a receiver was appointed. It is impossible to tell the extent of Pratt's villainy, as the bank's correspondents in New York and Chicago allowed him to overdraw $15,000. In addition he raised $30,000 on his personal note, indorsed by an aged widow, whose affairs he managed. The woman with whom Pratt skipped was a Mrs. Jacobsen, a grass-widow. Mrs. Pratt never suspected her husband until an anonymous note told her of his doings. She then left him and went to her home in Boston, Mass.


Article from The Springdale News, April 12, 1889

Click image to open full size in new tab

Article Text

OVER THE BORDER

The Cashier of the First National Bank of Aneka, Mion., Crosse. Into Canada, Leaving a D fieit of Nearly $100,000. ANOKA, Mino. April 8.-The doors of the First National Bank closed Saturday evening. The cashier is in Canada, The matter has been kept quiet. The partic. ulars, as fully as could be learned, are as follows: P. F. Pratt, cashier of the First National Bank of Asoka went to Minneapolis a week ago last Thursday, com. plaining that he washnot well. On Saturday he telephoned the assistant cashier about some matters of business, and to the inquiry as to his health, jokingly remarked: "I am sick abed and looking for watchers." On Friday the bank officials were startled by a notice from the Merceants' Bank of St. Paul that the account of the First National was overdrawn $20,000. A trusted messenger was at once dispatch+ ed to St. Paul to investigate, and the discovery was made that Pratt had drawn out about $8,000 due the bank and over twice as much more on his cashier's check. The bank examiner was notified of the situation, and in company with the cashier of the Merchants' National Bank of St. Paul and a Minneapolis expert, gave a hasty over-hauling of the affairs. Enough was learned to show that matters were in a bad mess, and that Pratt is a thief to the amount of nearly $100,000. Not knowing when or where the end might be, the directors concluded to place the bank in the hands of the bank exam. iner, and he will appoint a receiver to settle the affairs or close up the business. It is impossible to tell how great has been Pratt's villainy, and the bank's correspondents in both Chicago and New York allowed him to overdraw to the amount of $15,000. It is probable that he has drawn to the full limit of both banks, They have been telegraphed to refuse payment on all checks signed by Pratt. In addition to this, he raised about thirty thousand dollars on his personal notes, indorsed by Mrs. Nelland, an aged wid W residing in Dayton, who trusted Pratt to manage her business matters to a large extent.


Article from Essex County Herald, April 12, 1889

Click image to open full size in new tab

Article Text

ANOTHER THIEF IN CANADA

The Cashier of a Minnesota Bank Steals a Large Sum and Flees. The doors of the Anoka, Minn., First National bank are closed. The cashier is in Canada. The matter has been kept quiet. There is a woman in the case. The particulars, as fully as could be learned, are as follows: P. F. Pratt, cashier. went to Minneapolis a week or more ago, complaining that he was not well. Later he telephoned the assistant cashier about some matters of business, and to the inquiry as to his health. jokingly remarked: "I am sick abed and looking for watchers." He is still looking. Last week the bank officials were startled to hear from the Merchants bank of St. Paul that their account was overdrawn $20,000. A trusted messenger was at once dispatched to St. Paul to investigate, and the discovery made that Pratt had drawn out about $8000 due the bank and over twice as much more on his cashier check. The bank officers were notified and in company with the cashier of the Merchants National bank of St. Paul and a Minneapolis expert, gave a hasty overhauling of Pratt's accounts. E ough was learned to show that matters were in a bad mess, and that P, att is a thief to the amount of nearly $100,000. The directors decided to place the bank in the hands of the examiner, and be will appoint a receiver to settle the affairs or close up the business.


Article from Middlebury Register, April 12, 1889

Click image to open full size in new tab

Article Text

Francis, who had been ha day at Lebanon, and that he uscitated by his relatives. was not broken, and as he was not strangled. had hung for 20 minutes tl pronounced him dead. You have sent two of my cou jail and you will die for it faced Russian to Justice S Newark, N. J., Saturday the latter was on his wa The stranger referred to couple whom the judge had 9 months for bigamy two " stice Sommers laughed at the and went on his way, bu his office, opposite the co found a round package on Iressed to himself. When th opened a two and half incl pipe was disclosed, in on was discovered a fuse. dynamite. The judge care yed the instrument of death sewer and lowered it wit the bottom. He is now hu would-be murderer. Inspector Byrnes of New the arrest of Henry uben Lomis, William Avery wyer and John H. Hill, accus a gang of "fire bugs," said onsible for the several atten burn the Catholic protectory ester county. They are betwe years of age. Sawyer is a others are white. All live of East 142d street. T Cassidy, only 19, who seer rfect fiend. He was discharge protectory for impudence ago, and in revenge ha destroy the buildings. He engineer, his father being Both were discharged, the ence being drunkenness. to burn the building w some outbuildings were des Special Treasury Agent Sim earthed one of the most uggling operations ever cari York city. Thus far the I vernment, it is estimated, an $50,000, and it is expected the end is reached the total to $250,000. Allard & Sons No. 304 Fifth avenue is the The partners are in Fran remain most of the time, b esented here by an agent, P Allard & Sons deal in furniture, articles of vertu, bestries and various other a and number among a some of the wealthiest United States. In many of on Murray hill are to be f valuable articles which I over the ocean by this firn the customs authorities already discovered be take of the general practi most of these never paid to Uncle Sam, and Allard only pocketed the profits tl the sales, but added largely t pocketing the duties which been paid into the treasury The doors of the First natio Anoka, Minn., were closed ening. The cashier is in Ca is a woman in the 0920


Article from Los Angeles Daily Herald, April 19, 1889

Click image to open full size in new tab

Article Text

Result of Pratt's Clean-Up

ANOKA, Minn., April 18.-It has been decided that the First National Bank of this city, which was recently closed, being cleaned out by cashier Pratt, shall go into the hands of a receiver. Mrs. Nell, the lady who was on the absconded cashier's paper to the extent of about $40,000, refuses to pay the notes, and a long lawsuit is in progress.


Article from Pittsburg Dispatch, April 19, 1889

Click image to open full size in new tab

Article Text

A BANK IN BUSINESS NO MORE

It Has to Quit Because Its Cashier's Paper is Good for Nothing. ANOKA, MINN., April 18.-It has been decided that the First National Bank of this city, which was recently cleaned out by Cashier Pratt, shall go into the hands of a receiver. The directors do not think itwise to resume business until all outstanding claims are settled. Mrs. Nell, the lady who was on the absconding cashier's paper to the extent of about $40,000, refuses to pay the notes, and a long lawsuit is in prospect.


Article from The Morning News, April 20, 1889

Click image to open full size in new tab

Article Text

ANOKA'S BROKEN BANK

The Woman Who Indorsed the Cash ier's Checks Refuses to Pay. MINNEAPOLIS, MINN., April 19.-The Tribune's special from Anoka, Minn., says: "It has been decided that the First National Bank of this city, which was recently cleaned out by Cashier Pratt, shall gointo the hands of a receiver. The directors do not think its wise to resume bosiness until all the outstanding claims are settled. Mrs. Nell, the lady who was on the absconding cashier's paper to the extent of about $40,000, ref ises to pay the notes, and a long law suit is in prospect.


Article from Richmond Dispatch, April 20, 1889

Click image to open full size in new tab

Article Text

A Bank to Go into the Hands of a Receiver. (By telegraph to the Dispatch.] MINNEAPOLIS, April 10.-A special from Anoka. Minn., to the Tribune says It has been decided that the First National Bank of that city, which was recently cleaned out by Cashier Pratt, shall go into the hands of a receiver. The directors do not think it wise to resume business until all outstanding claims are settled. Mrs. Nell, the lady who was on the absconding cashier's paper to the extent of about $40,000. refuses to pay the notes and a long lawsuit is in prospect.


Article from St. Paul Daily Globe, April 21, 1889

Click image to open full size in new tab

Article Text

WILL HAVE WATERWORKS

Anoka Begins Business in That Direction. Special to the Globe. ANOKA, Minn., April 20.-The committee on water works appointed by the mayor, met this afternoon and engaged G. E. Beach, of Minneapolis, to draw up plans and specifications for a system in this city. Mr. Beach will begin his work Monday. L. G. Browning has been appointed receiver of the First national bank. A frame house owned by George Warren, was burned last night. It was valued at $1,800; fully insured. It was doubtless the work of an incendiary.


Article from St. Paul Daily Globe, April 21, 1889

Click image to open full size in new tab

Article Text

WILL HAVE WATERWORKS

Anoka Begins Business in That Direction. Special to the Globe. Anoka, Minn., April 20.-The committee on water works appointed by the mayor, met this afternoon and engaged G. E. Beach, of Minneapolis, to draw up plans and specifications for a system in this city. Mr. Beach will begin his work Monday. L. G. Browning has been appointed receiver of the First national bank. A frame house owned by George Warren, was burned last night. It was valued at $1,800; fully insured. It was doubtless the work of an incendiary.


Article from Delaware Gazette and State Journal, April 25, 1889

Click image to open full size in new tab

Article Text

Broken by Cashier Pratt

ANOKA, MINN April 19.-I has been decided that the First National Bank of this city which was recently cleaned out by Cashier Pratt shall go into the hands of a receiver. The directors do not think It wise to resume business until all out-stand. ing claims are settled. Mrs. Nell, the lady who was on the absconding cashier's paper to the extent of about $11,000, refuses to pay the notes and a long law suit 18 in prospect.


Article from The Hot Springs Star, May 17, 1889

Click image to open full size in new tab

Article Text

What Pratt Stole

Receiver McNeir, of the First National bank at Anoka, has completed his statement of assets and liabilities and forwarded the same to the controller at Washington. The exact figures are not made public, but the liabilities amount to about $100,000. Unless the bank is held for the Nell notes, the assets will more than cover the indebtedness. Mr. McNeir is of the opinion that Pratt lost the most of his plunder in speculations, and that he got away with only about $5,000 in cash.


Article from St. Paul Daily Globe, July 3, 1889

Click image to open full size in new tab

Article Text

LEGAL AND ILLEGAL.
A Mother's Kick---Defrauding a Bank---A Cool Thousand for Picture Pins.

Judge Kelly finished the special term calendar at noon yesterday. All courts, except that of Judge Vilas, were adjourned until this morning, when Judge Kelly will take up the Kavanaugh-Chance habeas corpus case. The order to have the girl in court was issued on Saturday, but the sheriff, after diligent search, only found her yesterday at the home of her mother, the petitioner for the writ. The girl does not want to live with her mother, but will stay with her father. The matter will be determined this morning. Judge Brill will also hold court. George C. McNair, as receiver of the First National Bank of Anoka, sues Henry W. Carter and Jane E. Everts to have the court decree that certain conveyances of property which Carter made to Jane Everts were null and void and without effect, for the reason that said conveyances were made to defraud the plaintiff, who was about to recover judgment against the defendant Carter. E. L. Kimball sues Blakemore & Angell to recover $1,075 damages, alleged as follows: On the 6th day of June the defendants wrongfully and unlawfully, intending to harass, oppress and injure the plaintiff, did willfully and maliciously and with great force break and enter into the home and residence of the plaintiff and did then and there carry away three pictures of the value of $75. The plaintiff further claims that defendants did assault her with force and arms, grievously bruising and wounding her. They tore down the picture pins from the wall and otherwise injured and defaced the premises. For this she claims $1,000 damages. Noyes Bros. & Cutler sue Anton Wagner to recover $280.50 for goods sold. The Ridgely National Bank of Springfield sues the Illinois Fuel company to recover on a note of $3,000. In the case of Marie H. Hornsby against the city of St. Paul, an action to quiet title and recover for damages done to a part of the south half of the southwest quarter, section 5, town 28, range 22 west, the court finds the plaintiff entitled to judgment on part of her pleadings and portions of land claimed.

UNITED STATES COURT. In the case of Randolph Jasper against the Moorhead Manufacturing company, an action to recover $5,500 damages for the loss of two fingers, the jury rendered a verdict for the defendant. The case of Albert L. Babcock, administrator, etc., against Northern Pacific Railroad company, an action to recover $5,000 for personal injuries, resulting in the death of the plaintiff's charge, deceased, is on trial before Judge Nelssn.