Second National Bank (Grand Forks, ND)

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Episode Information

Episode UID
350401164
Episode Type
Run β†’ Suspension β†’ Closure
Bank Type
national
Bank ID
35040 national
Charter Number
3504
Start Date
December 31, 1896
Location
Grand Forks, North Dakota (47.925, -97.033)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d73e75c7ac93177d

Response Measures

Full suspension, Books examined

Other: Comptroller/bank examiner involvement culminating in appointment of a receiver (receivership).

Receivership Details

Depositor recovery rate
99.7%
Date receivership started
1897-01-07
Date receivership terminated
1900-12-01
OCC cause of failure
Losses
Share of assets assessed as good
40.1%
Share of assets assessed as doubtful
56.0%
Share of assets assessed as worthless
3.9%

Description

Failure followed heavy withdrawals after other bank failures; a receiver was appointed and bank did not resume.

Events (6)
1. May 17, 1886 Chartered
Source
historical_nic
2. December 31, 1896 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by failures of the National Bank of Illinois and the Bank of Minnesota, causing a $40,000 shrinkage
Measures
Published statement of condition; directors decided not to open and suspended payments; comptroller to be advised
Newspaper Excerpt
On account of recent heavy withdrawals of deposits ... it has been decided by our board of directors to suspend
Source
newspapers
3. December 31, 1896 Suspension
Cause
Local Banks
Cause Details
Decision to suspend followed heavy withdrawals after failures of other banks (National Bank of Illinois, Bank of Minnesota) and inability to realize on assets
Newspaper Excerpt
The directors of the Second National Bank of this city to-day decided not to open for business. ... it has been decided by our board of directors to suspend and the comptroller be advised of our action.
Source
newspapers
4. January 6, 1897 Receivership
Newspaper Excerpt
E. C. Tourtelot, receiver of the Grand Forks National bank, has been appointed receiver of the Second National bank.
Source
newspapers
5. January 7, 1897 Receivership
Source
historical_nic
6. June 26, 1897 Other
Newspaper Excerpt
Controller Eckels has ordered an assessment of 100 per cent on stockholders of the suspended Grand Forks National and Second National banks.
Source
newspapers

Newspaper Articles (21)
1. January 1, 1897 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, January 1, 1897

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YESTERDAY'S FAILURES. Second National Bank of Grand Forks, N. D., Forced to Close. GRAND FORKS, N. D., Dec. 31.-The directors of the Second National Bank of this city to-day decided not to open for business. The following notice was posted: "On account of recent heavy withdrawals of deposits and the impossibility of realizing on our assets it has been decided by our board of directors to suspend and the controller be advised of our action." It is said by the officers that immediately following the failure of the National Bank of Illinois and the Bank of Minnesota the bank has sustained a shrinkage of $40,000. while its deposits amounted to about $17,000 during the past fourteen days. The bank statement at the close of business Dec. 17 showed: Loans and discounts, $158,086; due from national and State banks and approved reserve agents, $9,342.59; due to banks and depositors, $179,749.76; rediscounts, $4,600. The capital stock paid in was $59,000. with undivided profits amounting to $4,000.

2. January 1, 1897 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, January 1, 1897

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ANOTHER BANK CLOSES. St. Paul, December 31.-A Grand Forks, North Dakota, special to the Dispatch says: The directors of the Second National Bank of this city this morning decided not to open for business. The following notice was posted. "On account of the recent heavy withdrawals of the deposits, and the impossibility of realizing upon our assets, it has been decided by our board of directors to suspend. The comptroller has been advised of our action." It is said that after the failure of the National Bank of Illinois and other banks in Minnesota, the bank's deposits sustained a shrinkage of $40,000. The statement of December 17 gave loans and discounts, $158,036; due other banks and depositors, $179,749.76. The capital stock was $50,000; undivided profits, $40,000.

3. January 1, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 1, 1897

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In North Dakota. Grand Forks, N. D., Dec. 31.-At a meeting of the directors of the Second National bank this morning they decided not to open for business. The following notice was posted on their doors: "On account of recent heavy withdrawals of deposits and the impossibility of realizing on our assets, it has been decided by the board of directors to suspend and the comptroller has been advised of our action." The officers of the bank were interviewed, and while not prepared to make any statement until the comptroller and bank examiner could be heard from, the following facts were gleaned from the statement made by one of the bank officers: Immediately following the failure of the National Bank of Illinois and the Bank of Minnesota, the bank had sustained a shrinkage of $40,000, while their deposits amounted to about $417,000 during the past 14 days. On Monday the bank published a statement of their condition at the close of business, Dec. 17, which showed loans and discounts of $158,086.92; due from national and state bands and approved by reserve agents, $9,342.59; due to banks and depositors, $179,749.76; discounts, $4,600; capital stock paid in, $50,000, with undivided profits amounting to $4,000.

4. January 1, 1897 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, January 1, 1897

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TROUBLES OF THE Y NATIONAL BANKS s Three More Institutions Are Forced to the Wall. b s 1 Two Located in the Dakotas and the Third in the State cf Nebraska. Bondsmen of E. D. Dreyer of Chicago si Will Have to Pay the Banker's Shortages. e 1 GRAND FORKS, N.D., Dec. 31.-At Bank a meeting of the Second National for this morning they decided not to open business. The following notice was posted on the doors: "On account of recent heavy withdrawais of deposits and the impossibility deof realizing on our assets, it has been cided by our board of directors to suspend and the Comptroiler has been advised of our action." The officers of the bank were interviewed and while not prepared to make and any statement until the Comptroller the Bank Examiner could be heard from, following facts were gleaned from the statement made by one of the bank the officers: Immediately following the the Bank of of the failure Bank of Minnesota, Illinois bank while had and their sustained a shrinkage of $40,000, depoists amounted to about $17,000 during the last fourteen days. On last Monday the bank published a statement of this business at the close of business December 17. which showed loans and discounts, $158,086 92; due from national and State banks and approved reserve agents, $9342 due to banks and depositors, $179,749 76; rediscounts, $4600; undicapital stock paid in, $50,000, with vided profits amounting to $4000. CRETE, NEBR, Dec. 31.-The Crete National Bank closed its doors this evening Deand went into voluntary liquidation. posits are only $12,000, and will be paid on demand by the First/ National Bank, where money is deposited to pay them. The Crete National has on hand in cash $57,000. and only closed because the business did not pay. The stock is mostly held by non-resident parties. The bank was organized in 1893, and was capitalized at $50,000. WEBSTER, S. D., Dec. 31.-The new bank recently organized here is already insolvent. T. E. Egge, the moving spirit, collected 50 per cent of the capital stock of and deposited it in the defunct Bank Minnesota of St. Paul and the Columbia National Bank of Minneapolis. The new bank was to be of $20,000 capital and to commence business on or about January 1897. Mr. Egge had collected the the amount 1, above stated and deposited same to his credit, and when the crash came hagave his personal note to each and every stockholder. The total amount involved is $13,500. CHICAGO, ILL., Dec. 31.-Ex-Mayor Hemps:ead Washburne, George Schneider, president of the failed Bank of Illinois, and Philip Henrici, the most prominent German restaurant-owner in the city, who are the bondsmen of the bankrupt banker, West E. S. Dreyer, as treasurer of the Park board, will be formally notified next week that Mr. Drever has failed to acquit a claim of $310,000 in favor of the park board. The bondsmen will be called upon to make the amount good, as they are sure- been for $500,000. This action has attorties decided upon by the board and its ney has been instructed to proceed. Mr. Dreyer is seriously ill at his home his with inflammation of the kidneys, and physician has forbidden any one seeing him to talk over his business difficulties. Because of the banker's physical condition, Bondsmen Washburne and Henrici did not press their inquiries when learn they visited him a few days ago to He how he had invested the park money. admitted, however, that he had sold which park bonds at one time to exceed $50,000, the violation of a promise made at time was a Mr. Henrici signed the bond, accord- He ing to the latter's statement to-day. added "Mr. Dreyer told me he liabili- was worth a million dollars above his ties at the bank. I believed it then, but know better now. I was deceived.' Mr. Washburne says he will not shrink from his obligation. He is also a private banker. At a special meeting of the board of directors of the Dime Savings Bank which elected yesterday Ralph Metcalf was appointed treasurer of the bank, a posi- This tion equivalent to that of manager. from action displaced George W. Reed the treasurership, which he held for years. Mr. Metcalf, to whom the appointment of the a surprise, assumed charge received bank was at noon. He said he had and orders as to the bank's future would no only say the directors had arranged due, meet every dollar of deposits when to before. Interest may be paid January ac2. or The directors are not disposed to to cept any offer of outside business. assistance liquidate or remain in 0 MALLEY KRAIGNED

5. January 1, 1897 Evening Journal Wilmington, DE
Article from Evening Journal, January 1, 1897

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FINANCIAL TROUBLES. A Dakota Bank Announces Its Inability to Meet Obligations, GRAND FORKS, N. D., Jan. -The directors of the Second National bank of this city have decided not to open for business. The following notice was posted: "On account of recent heavy withdrawals of deposits and the impossibility of realizing upon our assets it has been decided by our board of directors to suspend and the comptroller be advised of our action." It is said by the officers that immediately following the failure of the National Bank of Illinois and the Bank of Minnesota the bank had sustained a shrinkage of $40,000, while their deposits amounted to about $17,000 during the past 14 days. The bank statement at the close of business Dec. 17 showed: Loans and discounts, $158,086; due from national and state banks and approved reserve agents, $9, 342.59; due to banks and depositors, $179. 749.76; rediscounts, $4,600. The capital stock paid in was $50,000, with undivided profits amounting to $4,000.

6. January 2, 1897 The Copper Country Evening News Calumet, MI
Article from The Copper Country Evening News, January 2, 1897

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Grand Forks Bank Closed. Grand Forks, N. D., Jan. 1.-The directors of the Second National bank of this city Thursday morning decided not to open for business. The following notice was immediately posted on their doors: "On account of reçent heavy withdrawals of deposits and the impossiblities of realizing upon our assets it has been decided by our board of directors to suspend and the comptroller be advised of our action."

7. January 7, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 7, 1897

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Receiver for Two Banks. Special to the Globe. GRAND FORKS, N. D.,Jan. 6.-E. C. Tourtelot, receiver of the Grand Forks National bank, has been apointed receiver of the Second National bank.

8. January 7, 1897 River Falls Journal River Falls, WI
Article from River Falls Journal, January 7, 1897

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stove. Near Decatur, Ga., Tom Flanagan, wh e drunk, shot and killed G. W. Allen and wife and Miss Ruth Slack. The doors of the Second national bank at Grand Forks, N. D., wereclosed, with liabilities of $150,000. In Colorado the production of precious metals in 1896 was: Gold, $16,500,000; silver $12,058,000. In Utah the production was: Gold, 93,896 fine ounces; silver, 8,728,705 fine ounces. Hazen S. Pingree was inaugura governor of Michigan. The oldest railroad director in the world, Samuel M. Young, died in Tole do, 0., in his 91st year. In ten days the five children of Ja is Vogel, of Sandusky, O., died from diphtheria. Charles A. Weyrich, aged 24, and Charles D. Carpenter, aged 29, two close friends, ended their lives in the Planter's hotel in St. Louis by taking poison. No cause is known for the deed. Cyclone nearly demolished the town of Mooringsport, La., and killed the four children of Jesse Goodman. Many other persons were injured, some fatally. The Tennessee legislature convened at Nashville for a session to last 75 days. A freight train ran into a landslide near New Haven, Mo., killing Engineer Homar Evans, Fireman Henry Horkup and Brakeman J. E. McQueen. The doors of the State savings bank at Whitehall, Mich., were closed with liabilities of $100,000. In Chicago William A. Hammond, aged 45 years, second vice president of the National Bank of Illinois, that failed recently, committed suicide by drowning himself in Lake Michigan. At Fargo, N. D., the Citizens' national bank suspended payment. At Omaha, Neb., the savings bank closed its doors with liabilities of $850,000; assets, $1,000,000. Flames which started in Lebeck's dry goods store in Nashville, Tenn., destroyed ten buildings, the total loss being $400,000. After 30 years of judicial service Jus. tice R. Rothrock has retired from the supreme court of Iowa. At Devil's Lake, N. D., the Merchants' national bank closed its doors, with liabilities of $50,000. Edward Scofield was inaugurated a3 governor of Wisconsin. Advices from different sections of Michigan say that great damar has been done by heavy rains. In Chicago an ordinance passed by the city council will have the effect of obliterating the high hat in theaters and music halls. Seven miles northeast of Nelson, Neb., three stock men were frozen to teath. Five men were killed by an explosion in a mine at Hartshorne, I. T. The Germania bank in St. Paul closed its doors with liabilities of $1,000,000 and the West Side bank followed suit owing depositors $113,000. Richard Cornelius, cashier of the National farmers' and planters' bank in Baltimore, Md., being a defaulter to the extent of $60,000, committed suicide by drowning himself. Legislatures of California, Montana and Idaho met in their respective capitals. In Montana Robert B. Smith was inaugurated as governor and in Idaho Gov. Frank Steunenberg took the oath of office. Fire destroyed the Wyoming state

9. January 7, 1897 The Durham Recorder Durham, Hillsboro, NC
Article from The Durham Recorder, January 7, 1897

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BANK FAILURES. Big Concerns All Over the Country Closing Down. The McKinley "wave of prosperity" seems to be spreading all over the country and banks and large business concerns are going into liquidation by the score, The following failures were reported over the private wire of E. B. Outhbert & Co., yesterday and they were kindly furnished to the HERALD cry the above named firm: There were two failures in North Dakota yesterday (Saturday) morning The Second National Bank, at Grand Falks, N. D., closed its doors soon after opening. The cause of the failure was on account of heavy withdrawals of de posits and the impossibility of realizing on the assets. Soon after the above failure the Farmers & Merchants bank, at the same place, went into voluntary liquidation. Nebraska also had a failure. At Omaha the Savings Bank closed its doors yes terday morning for the same cause as those given above. The bank was capitalized at $150,000 and had on deposit $1,300,000. The "Lone Star State" does not escape either. Friday evening the large retail dry goods house of Fellman & Grumback, of Galveston, and one of the oldest business firms in Texas announced their inability to continue business. Vesterday the preferences were given to the amount of $195,000. The liabilities, it is said, will be at least one million dollars.

10. January 8, 1897 Little Falls Weekly Transcript Little Falls, MN
Article from Little Falls Weekly Transcript, January 8, 1897

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Receiver for Two Banks. GRAND FORKS, N. D., Jan. 7.-E. C Tourtelot, receiver of the Grand Forks National bank, has been appointed receiver of the Second National bank.

11. January 8, 1897 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, January 8, 1897

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GOT A STRAIGHT TIP BANKS THAT STOOD FROM UNDER A GREAT FINANCIAL SMASH. Somebody. Nobody Will Tell Who, Told Certain Favored Banks What Was Going to Happen to the National Bank of IIIIneis, Giving Them an Opportunity to Withdraw Their Deposits Which They Were Swift to Improve-Eckles Names Bank Receivers-American National, of Denver Re-opens-Day's List of Failures Chicago, Jan. 7.-It has been ascertained positively that several banks which had deposits in the defunct Natioral Bank of Illinois were warned of what was to come and as a result their money was withdrawn just in time to save them from being carried down with the wreck. Henry W. Austin, president of the Oak Park State bank, made the statement today that he had received information of the dangerous condition of the Illinois National during the week previous to the failure. Acting upon this tip, Mr. Austin says, he immediately took out of the bank the money his bank had there. Five thousand dollars was withdrawn Friday previous to the Monday in December when the National Bank of Illinois failed to open its doors for business. The following day, Saturday, $45,000 more, which constituted the balance due the Oak Park State bank by the National Bank of Illinois was taken out. Hinckley and Tilden, proprietors of the West Side bank, were also warned In time to withdraw their cash from the tottering institution. Mr. Austin refused positively to state who his informant was. He said, however, that he was not a director or official of the Illinois National. BANK RECEIVERS NAMED. Washington, Jan. 7.-The comptroller of the currency has appointed Bank Examiner Blancing temporary receiver of the First National Bank of Sioux City, and Examiner Anheir receiver of the Citizens National bank, of Fargo, N. D. Both of these appointments are temporary, pending resumption. Bank Examiner Turtilot has been appointed rereiver of the Second National, of Grand Forks, N. D. The comptroller has received information that the Commercial National bank of Roanoke, W. Va., which suspended some time ago, has raised sufficient funds with which to go into liquidation without the intervention of a receiver. DENVER BANK RE-OPENS. Washington, Jan. 7.-The American National bank of Denver, Colo., which suspended payment April 21, 1896, having complied with the conditions imposed by the comptroller of the currency precedent to resumption, has today been permitted to re-open its doors for business as a national banking association. Denver, Colo., Jan. 7.-The American National bank re-opened today under its old management with $600,000 cash on hand to meet liabilities and conduct business. There remains but $200,000 of liabilities to be provided for out of all other assets of the bank. DAY'S LIST OF FAILURES. New York, Jan. 7.-J. J. Johnston & Co., a corporation, dealers in diamonds, jewelry and silverware, today assigned to John R. Keim, and Arthur H. Masten. The liabilities are reported to be $219,000 and assets about $201,000. St. Paul, Minn., Jan. 7.-A Preston, Minn., dispatch to the Dispatch says: The Bank of Canton, at Canton, and the Citizens bank of Lanesboro, both owned and operated by Field, Kelsey & Co., suspended business yesterday. Lancaster, Pa., Jan. 7.-Schroder, Smith & Schroder's ready-mixed paint works were entirely destroyed by fire today. The origin of the fire is unknown. The members of the firm decline to make an estimate of the loss, but it is thought to be fully covered by insurance.

12. January 8, 1897 Evening Journal Wilmington, DE
Article from Evening Journal, January 8, 1897

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The Insolvent Banks, WASHINGTON, Jan. 8.-The comptroller of the currency has appointed Bank Examiner Blanding temporary receiver of the First National bank of Sloux City, Ia., and Examiner Anheir receiver of the Citizens' National bank of Fargo, N. D. Both of these appointments are temporary, pending resumption. Bank Examiner E. C. Turtelot has been appointed receiver of the Second National bank of Grand Forks, N. D. The comptroller has received information that the Commercial National bank of Roanoke, Va., which suspended some time ago, has raised sufficient funds with which to go into liquidation without the Intervention of a receiver.

13. January 8, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 8, 1897

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RECEIVERS NAMED. Pending the Resumption of Suspended National Banks. WASHINGTON Jan. 7.-The comptroller of the currency has appointed Bank Examiner Blading temporary receiver of the First National Bank, of Sioux City, and Examiner Anheirr receiver of the Citizens National of Fargo, N. D. Both of these appointments are temporary, pending resumption. Bank Examiner Turtilot has been appointed receiver of the Second National Bank, of Grand Forks, N. D. The comptroller has re eived information that the Commercial National Bank, of Roanoke, Va., which suspended some time ago, has raised sufficient funds with which to go into liquidation without the intervention of a receiver. Denver, Col., Jan. 7.-The American National Bank reopened today under new management, with $600,000 cash on hand to meet the liabilities and conduct business. There remains but $200,000 of liabilities to be provided for out of all the other assets of the bank. Eau Claire, Wis., Jan. 7.-The Commercial Bank of Eau Claire, capital $30,000, closed today. The failure is due to the suspension of the Allemannia bank, of St. Paul. President Allen states that the Eau Claire institution will wind up affairs, and that depositors will be paid in full.

14. January 8, 1897 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, January 8, 1897

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Receivers for National Banks. WASHINGTON, Jan. 7.-The comptroller of the currency has appointed Bank Examiner Blancing temporary receiver of the First National bank of Sioux City and Examiner Anheir receiver of the Citizens' National bank of Fargo, N. D. Bank Examiner Turilot has been appointed receiver of the Second National bank of Grand Forks, N. D.

15. January 9, 1897 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, January 9, 1897

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Lynched an Incendiary. ORANGEBURG, S. C., Jan. 8.-Lawrence Brown, the negro who is generally believed to have been connected with the burning of Robert Wanamaker's barns and stables at Stiliton last week, was lynched during the might. Receiver for Two Banks. GRAND FORKS. N. D., Jan. 8.-E. C. Tourtelot. receiver of the Grand Forks National bank, has been appointed receiver of the Second National bank

16. February 11, 1897 Jamestown Weekly Alert Jamestown, ND
Article from Jamestown Weekly Alert, February 11, 1897

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$258,883 02 In the various suspended banks of the state the treasurer has $65,772.91, as followe: Citizens National bank, Fargo, 847,801 93 30 Grand Forke National bank 9,712 Second National bank, Grand 3,124 95 Forks 2,866 64 First National bank, Minot First National bank, Minot, draft deposited, payment stopped and now in litiga2,267 09 tion Treasurer Nichols says: Each of the above depositories have given bonds to the state of North Dakota for double the amount of deposit, which, in every case is ample security for the amount asked for. I have carefully investigated the bonds of the suspended banks, and am satiefied that the state is well secured and will receive every dollar that is due. SENATE. Among the new bills introduced in the senate yesterday was by Greene: Prescribing duties and obligation of herders. Marshall, providing that pledgee can sell collateral in default. Enger, giving three representatives to sixteenth district, consisting of Steele and Grigge counties. Dunlop, repealing the office of oil inspector. Strom, requiring one-third the available school funds to be invested in farm mortgages. Dunlap, 120 oil test. Haggart, $2,000 for advertising school land leases. House bille passed: Amending the good time law of convicte; allowing witnesses awaiting trials 50 cents 8 day; Twitchel's bail on appeal; Francis' challenges of jurore rec. ommended by judiciary. Little's, counties to pay for transporting conviots and ineane, WAS lost. The one hundrad thousand dollar irrigation memorial was lost. Senate refused to concur in Creel's armory bill. HOUSE. The resolution to investigate the gambling and liquor selling at Bismarck created a good hot debate in the house yesterday. There was bitter opposition to the report, Cole and Hankinson leading. It was alleged by several that there are open violations of the law in Case Richland Weleh and Footer conn.

17. June 27, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, June 27, 1897

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Assessed Stockholders the Limit. GRAND FORKS, N. D., June 26.-Controller Eckels has ordered an assessment of 100 per cent on stockholders of the suspended Grand Forks National and Second National banks. The capital stock of the former is $20,000 and of the latter $50,000. The entire amount must be paid by July 14 or payments in three monthly installments from that date secured at once.

18. June 29, 1897 The River Falls Times River Falls, WI
Article from The River Falls Times, June 29, 1897

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Eckels Orders an Assessment. Grand Forks, N. D., June 29.--Controller Eckles has ordered an assessment of 100 per cent on the stockholders of the suspended Grand Forks National and Second National banks. The capital stock of the former is $20,000 and of the latter $50,000. The entire amount must be paid by July 14. or payments in three monthly installments from that date secured at once.

19. October 2, 1897 The Washburn Leader Washburn, ND
Article from The Washburn Leader, October 2, 1897

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AT GRAND FORKS. The Street Fair to Be a Great SneсСяя and a Unique Feature. Grand Forks, N. D., Special.-One of the most important cases to come up at the next term of the federal court is that of E. C. Tourtelot, receiver of the Second National bank, against Nash Bros., wholesale grocers and fruit merchants of this city. Just before the bank closed Nash Bros. drew a considerable amount from the bank, and the receiver claims the sum as a part of the assets of the institution. Already the merchants of the city are at work on booths for the street fair. Interest in the fair is increasing and it bids fair to be the event of the year in this part of the valley. The county jail is filled to overflowing. and Judge Fisk will convene a term of court Oct. 6 for the purpose of disposing of cases. There are no very important ones in the list, most of them being for evading the liquor law and hold-ups.

20. November 18, 1897 Courier Democrat Langdon, ND
Article from Courier Democrat, November 18, 1897

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BOOKER'S DISAPPEARANCE. Has Created a Lively Sensation in Grand Forks. Grand Forks, N. D. - There was a marked sensation in the federal court here when it was learned that L. E. Booker, late president of the suspended Grand Forks National bank, whe was indicted by the federal grand jury last spring for irregularities, was not present for trial. Judge Amidon ordered that the names of Mr. Booker's bondsmen be called, and that the bondsmen produce him in court. This formality being complied with and Mr. Booker not appearing, his bail bond for $5,000 was decided forfeited, and a bench warrant was issued for his arrest. An officer was sent in search of him, but he could not be found. Mr. Booker is an old resident of the state, having held various offices of trust, among them being that of state treasurer. He has been a prominent figure in business circles, and at one time was possessed of considerable property. He was president of the Grand Forks National bank at the time of its suspension in April, 1896, and, when the deplorable condition of the bank's affairs became known, it was immediately charged that President Booker had been guilty of criminal use of the funds. The subsequent investigation by the government officials resulted in several indictments against him being found. One of these contains forty-seven counts. The principal charges are receiving deposits when the bank was known to be insolvent, making false statements to the controller, and embezzling and misappropriating the funds of the bank. The men who signed the bond are Fred Falley, secretary of state; J. P. Baker, P. C. Remington, Charles Kupitz and Joseph Hair, all residents of Bismarck. Mr. Booker had retained as his attorneys Col. John D. Benton of Fargo and Hon. Alex Hughes of Bismarck. The former withdrew from the case a short time ago, illness being given as the cause of his withdrawal. Mr. Booker seems to have utterly disappeared, and none of his friends will admit having any knowledge of his whereabouts. The general opinion is that he has gone to Canada. H. F. Salyards of Minot is also on trial on charges similar to those against Mr. Booker. At this term there will also be tried cases brought by Receiver Tourtelot against sixteen of the stockholders of the Grand Forks National and Second National banks who have failed to pay the assessments ordered several months ago. Seed Grain Warrants. Chamberlain, S. D.-The last of the warrants to the amount of $14,000, which were issued by the county in the spring of 1895 to purchase seed grain for farmers who had suffered from drouth the previous year. have just been called in for payment by the county treasurer.

21. November 27, 1897 The Washburn Leader Washburn, ND
Article from The Washburn Leader, November 27, 1897

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BOOKER'S DISAPPEARANCE. Has Created a Lively Sensation in Grand Forks. Grand Forks, N. D. - There was a marked sensation in the federal court here when it was learned that L. E. Booker, late president of the suspended Grand Forks National bank, whe was indicted by the federal grand jury last spring for irregularities, was not present for trial. Judge Amidon ordered that the names of Mr. Booker's bondsmen be called, and that the bondsmen produce him in court. This formality being complied with and Mr. Booker not appearing. his ball bond for $5,000 was decided forfeited, and a bench warrant was issued for his arrest. An officer was sent in search of him, but he could not be found. Mr. Booker is an old resident of the state, having held various offices of trust, among them being that of state treasurer. He has been. a prominent figure in business circles, and at one time was possessed of considerable property. He was president of the Grand Forks National bank at the time of its suspension in April, 1896, and, when the deplorable condition of the bank's affairs became known, it was immediately charged that President Booker had been guilty of crimInal use of the funds. The subsequent investigation by the government of ficials resulted in several indictments against him being found. One of these contains forty-seven counts. The principal charges are receiving deposits when the bank. was known to be insolvent, making false statements to the controller, and embezzling and misappropriating the funds of the bank. The men who signed the bond are Fred Falley, secretary of state; J. P. Baker, P. C. Remington, Charles Kupitz and Joseph Hair, all residents of Bismarck. Mr. Booker had retained as his attorneys Col. John D. Benton of Fargo and Hon. Alex Hughes of Bismarck. The former withdrew from the case a short time ago, illness being given as the cause of his withdrawal. Mr. Booker seems to have utterly disappeared. and none of his friends will admit having any knowledge of his whereabouts. The general opinion is that he has gone to Canada. H. F. Salyards of Minot is also on trial on charges similar to those against Mr. Booker. At this term there will also be tried cases brought by Receiver Tourtelot against sixteen of the stockholders of the Grand Forks National and Second National banks who have failed to pay the assessments ordered several months ago.