Second National Bank (Grand Forks, ND)

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TWO DAKOTA BANKS FAIL

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 and deposited It in the defunct Bank of Minnesota of St. Paul and the Columbia National Bank of Minneapolis. The new bank was to be of $20,000 capital and to begin business January 1, 1897. The total amount involved is $14,500. Grand Fork. 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 Controller has been notified of our action." Immediately following the failure of the National Bank of Illinois and the Bank of Minnesota the bank sustained a shrinkage of $10,000 In deposits.

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Decided to Close

Grand Forks, N.D., Dec. 31.--Ata 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: "Onaccountofrecentheavy withdrawals of deposits and the impossibility of realizing on our assets, it has been decided by our board of directors to suspend, and the comptroller has been advised of our action."

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North Dakota Bank Closes

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 impossibilities 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 fourteen days.

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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.

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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."

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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.

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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.

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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.

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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.

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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.

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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.

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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

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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.

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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.

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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.

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Eckels Orders an Assessment

Grand Forks. N. D., June 28.-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.

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ARE PAYING UP

Assessment Met by Stockholders at Grand Forks. GRAND FORKS, N. D., Aug. 18.-On July 14 the controller of the treasury assessed the stockholders of the Grand Forks National bank and the Second National bank, both of this city, 100 per cent, and a later order made it necessary to pay 10 per cent of that amount at once. On Aug. 14, 40 per cent of the amount was due. Receiver Tourtelot states that 30 per cent is already liquidated. With the coming of more prosperous times after harvest, it is quite likely that most of the stockholders will have paid their share, and the depositors will get another dividend.

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AT GRAND FORKS

The Street Fair to Be a Great Sneсеяя 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.

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Cash for Bank Creditors

Snecial to the Globe. GRAND FORKS, N. D., Oct. 15.-The comptroller of the currency has authorized a dividend of 20 ner cent to depositors of the suspended Second National bank. Claims in now aggregate $150,000.

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DITCH TANGLE

Trouble in Grand Forks County Over the Drainage Question. Grand Forks. N. D., Special.-Saturday was the day for letting contracts for the construction of the big drainage ditches in the northern part of the county, but the drainage commissioners were kept SO busy hearing the numerous petitions and protests that nothing was done. Many farmers object to the location of the ditch, as being either too near or too far from their property, while some property owners object to the ditch entirely. The legality of the law providing for the construction of these county ditches has not yet been tested, but suits are about to be started in Cass county in order to decide several disputed points, and it is now probable that no work will be done on the Grand Forks ditch until the courts have passed upon the matter. Controller Eckels has wired Receiver Tourtelot, of the Second National bank, that a dividend of 20 per cent has been declared, and depositors will receive their checks as soon as the necessary work can be done. This will probably require from two to three weeks. This bank suspended in December, 1896, with liabilities of about $150,000. Since that time the stockholders have been assessed 50 per cent on the par value of their stock, but there are many assessments still unpaid. a Deputy Sheriff Collins has closed blind pig in Mekinock, the proprietor of the place being Nels Fosness. The closing was effected by means of the injunction process, which appears to be the most satisfactory method of dealing with offenses against the prohibition law. The evidence in this case was secured by the officers of the state enforcement league. The elevators are just beginning to store a little wheat. Practically all the wheat that has been hauled from the farms has been sold, and the earnings of country elevators from storage have been lighter than usual. An effort will be made to have D. L. Moody, the evangelist, here for one or more addresses some time within a month, as it is learned that there is a possibility of securing him.

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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.