National German American Bank (St Paul, MN)

Episode Information

Episode Type
Suspension β†’ Closure
Start Date
May 1, 1895
Location
St Paul, Minnesota (44.944, -93.093)
Registered Place
Saint Paul
Bank Type
national
Charter Number
2943

Metadata

Notes

Articles state the bank was 'busted' and 'in the hands of a receiver.'

Events (4)

1. May 9, 1883 Chartered
Source
historical_nic
2. May 1, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Listed among 'busted' banks and reported to be in the hands of a receiver, indicating insolvency/failure.
Newspaper Excerpt
In National Geman American, Paul ... In the hands of a receiver
Source
newspapers
3. May 1, 1895 Receivership
Newspaper Excerpt
In National Geman American, Paul ... In the hands of a receiver
Source
newspapers
4. November 27, 1912 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from St. Paul Daily Globe, April 14, 1895

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Article Text

SAINT PAUL

HERE AND THERE. The park board will meet tomorrow night. All city employes will be paid tomorrow, the pay roll aggregating $80,000. The National Association of Letter carriers will hold its first annual ball at Litt's hall, Thursday night. Joseph Schields, a chronic petty thief, was given ninety days in the workhouse yesterday by Judge Twohy. The annual inspection of Company C, M. N. G., will be held at the armory tomorrow night. Dancing will follow the inspection. The state library has received "The Ging Murder and Hayward Trial," illustrated; also Vol. 61 of the Northwestern Reporter. Jerusha Manning has begun an action to recΓ³ver from Mary A. and George W. Faber $500, alleged to be due on a note. The stage hands of St. Paul will give a masquerade ball at Turner hall Tuesday night, which promises to eclipse anything given in this line this season. There has been filed with the state auditor a statement of the miscellaneous receipts of the St. Cloud reformatory up to April 12, the total of which is $3,050.14. A literary and musical entertainment will be given at the Father Mathew T. A. society this afternoon. An address will be delivered by Mr. McGhee, the colored orator. Tomorrow night the Como Christian Temperance club will give an entertainment in the hall at Como Villa. Addresses will be made by Fr. Cosgrove and A. W. Gutridge. Judge Egan yesterday appointed Charles Whitacre temporary receiver for Sylvian Nadeau in the suit of The German-American Bank against John B. Olivier and Sylvian Nadeau. John F. Conlin, aged twenty-eight years, was examined before Judge Willrich yesterday on a charge of insanity, and ordered committed to the asylum at Rochester. Conlin was an Inmate of the Insane asylum before. George W. Womack, George Griggs and Oscar Turner, of this city, heve incorporated the Itasca Investment Company of St. Paul, which will engage in a general real estate and loan business. The capital stock is $10,000. Thomas D. Stanton, a man of fifty, who recently eloped with and married Mary Berger, a girl of fifteon, was arraigned yesterday before Judge Twohy on a charge of abduction. The prisoner was held without bail until next Tuesday. At Woodland Park Baptist church tonight Rev, Addison Moore will deliver the second of his series of sermons on "The Life of Christ." The subject will be "The Ministry of Jesus," and the sermon will be illustrated with stereopticon views of celebrated paintings. Services begin at 7:45. Seats free. The United States court officials returned yesterday from Fergus Falls, the term of court having closed there. Judge Nelson will remain here during the coming week, and will go to Mankato one week from tomorrow to begin a term of court there on the following day. The marriage of John S. Fry and Miss Emma M. Koenig will occur at the Emmanuel Evangelical church, Van Slyke court, on Thursday evening next, at 8 o'clock. A reception at the Hotel Ryan will follow the ceremony. Adjt. Gen. Muehlberg has appointed Henry E. Minty captain, Eugene Handcom first lieutenant, and Harry D. Larkoss second-lientenant of Company A, N. G. S.M., Minneapolis; Frank T. Corriston captain and Charles W. Cartwright first lieutenant in Company I, also of Minneapolis. Joseph Dodge has been named first lieutenant and inspector of small arms' practice of the


Article from The Representative, May 1, 1895

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Article Text

THE STATE GETS BACK $3,000 BOBLETER COUGHS UP AND IS CAHSVMSLIHM The committee appointed in QJanuary last, has after over three months of silence made its report and as was to be expected brought forth a mouse. With ample powers and a broad field to work on it has deliberately scorned the aid of these who would and could lend assistance in hatching a scheme of villaincy to plunder the state, that has been practiced for years past. The committee has found that Bobletter took gifts for lending state money, but whether the committee would have seen fit to so find had they been certain the evidence had not been seen by others we cannot say, but they did have the grace to collect from Bobleter a part of that which he had taken from the state, even if they do tell what a kind, good, clean, generous, honest fellow Bob is. The committe say: "Our investigations have been "limited to an enquiry, first into the "financial condition of banks having on "deposit funds." The committe then give a list of the banks with amount deposited in each -and closes by stating that "we believe them all to be of good financial standing." We know not from what source the committee has received its information bat evidently from no very reliable source Indeed it seems highly probable that the committe did not seek very diligently after any witnesses who could give the facts, but whether this failure was owing to a premeditaed desire to make a whitewash report or from jealous fear that some witness might secure a part of the lustre to attending the work of the committee we do not attempt to state, but we do say that as the result of our labors the state is over $3,000 better off, for Bobletter, ex-state treasurer, found that we had seen checks bearing his endorsement which he had fraudulently gotten as a rake off for depositing state funds in certain broken banks: hence being caught in the act, Bobletter makes a virtue of necessity and coughs up $3,000, but not until he is caught. Nor until every effort has been made to defeat an investigation. Whereupon the committee gave Bob a clean bill of health and certificate of good moral character. It is well known that we drew the resolution, reader, which the committee voted, yet we were not given a chance to go before the committee at any session, neither was another gentleman who possessed many facts. We furnished-to two members of the committee printed data covering two sides of a newspaper showing the management of certain financial concerns, hence it seems that the committee could have had information if it so desired; hence it is to blame for its whitewahsing report. The committee finds that the state has assets in certain banks, which banks they believe to be in good condition, and convey to them following, to which your attention is asked, in order that you may have certain facts which were or could have been known to the committee: In State Bank Minneapolis $75,445.76 In Bank of New England, Min11.208.35 neapolis In the Farmers' and Merchants Bank, Minneapolis In American Exchange Bank, 18003.91 Minneapolis Total In banks that are busted and are now in the hands of a receiver: In National Geman American, Paul 78 68'629'42 In Commercial, St. Paul In Northern Trust Co., MinneapSII Total In concerns that have failed but later said to have resumed: In First National, Minneapolis. $33,647.09 In October, 1893, this bank made a false statement to the comptroller that it had a capital, surplus and profits of $1,409,101.13, yet today its surplus and profits are gone, and the stockholders have been assessed $800,000 to make good the capital; hence the bank's statement was true minus $1,209, 101.13, while soine DATE 01 pels eq pinom sit JO its stock away. In Union National, Min89 $64,465.68 neapolis This bank reported capital surplus of $579,048 68, which is true lacking $329,048.68, since they have had to levy an assessment of $250,000. In Flour City, Minneapolis. $17,110.36 This bank reported capital and surplus $1,167,017.31, and later from some cause is reported to have reduced its capital $500,000, showing a shrinking in say .10 pay 11 000'009$ J3A0 JO capital some very doubtful mortgages assigned to it by the Metropolitan Trust Co., and we would like to ask whether it is not the holder of considerable of the stock of said Trust company, and which even Kenyon finds to he valueless. We would also like to enquire how much of Tom Walker's unsecured paper it holds, and paper of like value. $57,820.77 Communia, uj A charge was made both to a state official and the legislature that this bank loaned money on Germania Bank stock, though said stock had had no money paid in on it. In view of the fact that this bank is run by Bobletter and Kettelson, one if not both of whom have admitted they got a rake off on state funds, we would like to enquire how much rake off they demand from the bank of which they are officials? Also how much of their own notes have been discounted by said bank? If Bobletter for $3,000 will deposit $131,000 of state funds in busted banks he would hardly seem to be a safe man to entrust with the funds of a bank as cashier. Brown County Bank, New Ulm 1011111'01$ Boon County Bank. New Ulm $10,111