Marine National Bank (Duluth, MN)

Episode Information

Episode UID
442101162
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
44210 national
Charter Number
4421
Start Date
October 14, 1896
Location
Duluth, Minnesota (46.783, -92.107)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
07a1fa9ae985a3b0

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
65.5%
Date receivership started
1896-11-11
Date receivership terminated
1900-04-16
OCC cause of failure
Losses
Share of assets assessed as good
12.0%
Share of assets assessed as doubtful
63.4%
Share of assets assessed as worthless
24.6%

Events (4)

1. September 23, 1890 Chartered
Source
historical_nic
2. October 14, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Inability to make collections rapidly enough to meet withdrawals (liquidity shortage due to heavy withdrawals).
Newspaper Excerpt
The Marine National bank has suspended. Inability to make collections rapidly enough to meet withdrawals is assigned as the cause.
Source
newspapers
3. November 11, 1896 Receivership
Source
historical_nic
4. November 12, 1896 Receivership
Newspaper Excerpt
William E. Lucas has been appointed receiver of the Marine National Bank of Duluth, Minn.
Source
newspapers

Newspaper Articles (22)

Article from Rock Island Argus, October 14, 1896

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Bank Suspende. Duluth, Minn., Oct 14.-The Marine National bank has suspended. Inability to make collections rapidly enough to meet withdrawals is assigned as the cause. No state. ment of assets or liabilities has yet been made. The bank has a capital of a quarter of a million.


Article from The Providence News, October 14, 1896

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A Bank in Trouble. DULUTH. Minn., Oct. 14.-The Marine National Bank has suspended, and the bank examiner is in charge. Inability to make collections rapidly enough to meet withdrawals 13 assigned as the cause The bank has a capital stock of $2.0,000. No statement has been issued asTyet.


Article from The Wichita Daily Eagle, October 15, 1896

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LATE NEWS BY WIRE Items of General Interest From All Over the Universe. San Francisco, Oct. 14.-The First batalion of the Fifth artillery regiment left here last night for the east. It consisted of four batteries, commanded by Lieutenant Colonel Sinclair. The second battalion. with Colonel Graham in command, follows tomorrow night. Duluth, Minn., Oct. 14.-The Marine National bank has suspended, and the bank examiner is in charge. Inability to make collections rapidly enough to meet withdrawals is assigned as the cause. The bank has a capital of $250,000. No statement has been made Berlin, Oct. 14.-The Frankfurter Zeeitung again announces that Dr. Kayser, director of the colonial office, has resigned. A similar announcement was made in March last and his resignation has for a long time past been looked upon as being among the probabflities. London, Oct. 14-The Daily Mail says over two million pounds in security was ready in court to be offered as ball for Mr. and Mrs. Castle. Lord Rothschild offered all the assistance in his power and the managers of seyen leaeding London banks made a simflar offer. San Francisco, Oct. 14.-Colonel Hen. ry Brady and R. P. Hammond, j1,, left for Oreegon last night as members of a government commission to settle the disputedboundary line of the Klamath Indian reservation. The question, which involves $0,000 acres, has been in dia pute for many years. St. Louis, Obt. 14.-The national board of steam navigation associations has elected the following officers and membens of the executive committee: Cap. tain Gue C. Meiseonneir, St. Louis, president: B. L Wood. New Orleans, first vice-president: W. W. O'Neil, Pittsburg, second vice-premident; W. J. Wood, Pittsblung, treasurer; Charles H, Boyer, New York, secretary. Remington. Ind., Oct. 14.-Frank Holmes, an old resident of this place, visIted the home of Charles Bartholomew, where & picture of McKinley irang in the window. Holmes made a remark about H which angered Hartholomew. who seized a hasbell bat and struck Holmesover the head. franturing his skull family. Bartholomew has been placed under heavy bonds


Article from The Copper Country Evening News, October 15, 1896

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Bank Suspends at Duluth. Duluth, Minn., Oct. 15.-The Marine National bank has suspended and the bank examiner is in charge. Inability to make collections rapidly enough to meet withdrawals is assigned as the cause, The bank has a capital of $250,000. No statement has been issued as yet.


Article from Wheeling Register, October 15, 1896

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NEWSLETS. FRANKFORT, Ky.-The Seventh district Republican committe to-day nominated W. C. P. Breckinridge as that party's candidate for Congress. SPRINGFIELD, Ills.-The sixth anual convention of the Illinois Bankers' Association convened to-day. The attendance was meagre. WASHINGTON-The treasury to-day lost $234,800 in gold coin and $45,000 in bars. which leaves the true amount of the gold reserve $124,504,585. ST. LOUIS Mo.-The registration of voters is unprecedetned, a gain of 40,000 over 1892. CLEVELAND Ohio.-In a barroom early this morning, Pat Tebeau, captain of the Cleveland team. and Catcher O'Conor gave a newspaper reporter a severe beating for writing an article criticizing Tebeau. COLUMBIA, S. C.-Two trains collided on the Florida Central to-day. Express messenger W. B. Lines and Mail Agent L. A. Thomas were caught under the wreck and roasted to death before the, eyes of the helpless trainmen. CINCINNATI, O.-In the U. S. court today Judge Sage held that the Fidelity bank receiver must pay the New York Chemical National Bank $300,000 with interest. money borrowed by President Harper without the sanction of the Trustees. LOUISVILLE, Ky.-To-night at nine o'clock at the residence of ex-Governor John Young Brown. his daughter, Virginia Singleton, was married to Major Miss Brown is a army. Charles Alfred Booth, beautiful United States young woman of the blonde type. a great belle in Louisville society and leader of Frankfort society during her father's administration. REMINGTON Ind., October 14.-Frank Holmes. an old man. visited the home of Charles Bartholomew, where a picture of McKinley hung in the window. Holmes made a remark which angered Bartholomew. who seized a base ball bat and fractured his skull. DULUTH, Minn.-The Marine National Bank has suspended through inability to make collections. PITTSBURG-The eleventh annual convention of the Brotherhood of St. Andrew of the United States. opened here this afternoon at Trinity Episcopal church. NEW YORK-The Appellate division of the Supreme court to-day decided that the use of the name National Democratic party" on the official ballot is permissible. This reverses Justice Clements. DETROIT. Mich.-Miss Floise Mortimer. prima donna of the Wilbur Opera Company was married to-night to Louis F. Schmidt. of Rochester N. Y., in Whitney's Opera House. by Rev. Stuart. HAZLETON, Pa.-Jefferson Kirchner and David John Williams, telegraphers, were a and William Stapleton, The killed struck in trolley wreck to-night. car a Delaware locomotive. Twenty others were hurt. five fatally. COLUMBUS Ga.-Officers Richard M. Adams and William Jackson went to arrest J. A. White, a former policeman. considered ecentric. White and son his who nineteen-year-old was Henry. opened fire with Winchesters, and killed both They then barricaded their before the elder officers. home. and wounded two White of the was atkilled. he fatally tacking party. The younger White escaped. Blood hounds are after him.


Article from The Madison Daily Leader, October 15, 1896

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Duluth Bank Suspends. DULUTH, Oct. 15.-The Marine National bank has suspended and the bank examiner is in charge. Inability to make collections rapidly enough to meet withdrawals is assigned as the cause.


Article from The Guthrie Daily Leader, October 16, 1896

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A Duluth Bank's Doors Closed. DULUTH, Minn., Oct. 15.-The Marine National bank has suspended and the bank examiner is in charge. Inability to make collections rapidly enough to meet withdrawals is assigned as the cause. The bank has a capital of $250,000. No statement has been issued as yet.


Article from Great Falls Weekly Tribune, October 16, 1896

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Another Duluth Bank Gone. DULUTH, Oct. 14.-The Marine National bank has suspended and the bank examiner is in charge. Inability to make collections rapidly enough to meet the withdrawals is assigned as the cause. The bank has a capital of $250,000. No statement has been issued yet.


Article from The Diamond Drill, October 17, 1896

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LATER. Mrs. Col. Vernon, of Red Key, Ind., gave her two small children a dose of poison and then poisoned herself. No cause is known for the deed. Michael Boyd and a man named Murphy were asphyxiated in a large gas tank at Syracuse, N.Y. Thomas White Ferry, ex-United States senator, died at his residence in Grand Haven, Mich., from cerebral apoplexy, aged 69 years. The Marine national bank at Duluth, Minn., suspended with heavy liabilities. The Second national bank. the oldest financial institution in Rockford, III., closed its doors, having gone into voluntary liquidation. Settlers in Ontonagon and Gogebic counties, Mich., were meeting with heavy losses by forest fires. The Bank of Commerce, one of the leading financial institutions in Buffalo, N. Y., suspended because of heavy withdrawals. The Union Pacific fast mail was held up by three masked men near Uintah, Utah, and the mail car was robbed. James Michael, the Welshman, broke the world's five-mile bicycle record ons the Garfield park track in Chicago, his time being 9:17 1-5. A gang of masked men looted the little town of Peryear, Tenn., and then started fires in many places, but the were extinguished with small loss. ) George Harris, William Smith an Charles Jones were killed and two cit! zens were wounded during an attemp to rob the bank at Meeker, Cal. Cummings Bros., exporters of hard wood lumber and logs at Houston, Texa failed for $100,000. Three men were fatally injured anti 20 others were more or less seriously injured in a trolley accident at a rail way crossing in Hazleton, Pa. J. A. White shot and killed Richard M. Adams and William Jackson, police officers who were trying to arrest him at Columbus, Ga., and was himself shot dead. In a wreek on the Florida Central road near Swansea, Gr... Baggage Master Lines and Mail Clerk Thomas were pinned down in the debris and burned to death. The annual report of the third assistant postmaster general for the past fiscal year shows that the total expenditure for the year was $90,626,296 and receipts $82,499,208, leaving a deficiency of $8,127,088, or a reduction of $1,679,956 less than the preceding year.


Article from The Ely Miner, October 21, 1896

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THE NEWS. Compiled From Late Dispatches. DOMESTIC. Gen. Edward S. Bragg, of Wisconsin, has been appointed by Attorney-General Harmon especial assistant to the United States district attorney for the eastern district of Wiscons:n. For the first time in the history of New York state courts women were appointed receivers in supplementary proceedings of insolvency in New York city. A statement prepared by the bureau of mints shows that during the month of September last the mints of the United States coined 2,700,100 silver dollars. The Cooperative Fruit company of New Castle, Cal., failed for $100,000. The notorious Bill Green gang of desperadoes. composed of Bill, Edward and Arthur Green, was found near Oologah, I. T., and Bill and Edward were killed by the officers. The barkentine Thomas J. Stewart, of Boston, was lost at sea with her crew of 11 men. An organized effort is being made in South Dakota to boycott the hard coal combine throughout the northwest by inducing as many consumers as possible to substitute corn for fuel. Later advices from the storm on the Atlantic coast say that the property damage at Coney Island and other places in the vicinity will amount to over $500,000. Six lives were also lost. The Sherburne (Minn.) bank robbers have been identified as Lu Kellihan and his brother Hans, the latter, who was killed by his captors, being only 18 years old. Knights of the Golden Eagle from nearly every part of the United States met at Reading, Pa., in annual convention. The first irrigation fair in the history of the west opened at North Platte, Neb., with many thousands in attendance. George Harris, William Smith and Charles Jones were killed and two citizens were wounded during an attempt to rob the bank at Meeker. Cal. The Marine national bank at Duluth, Minn., suspended with heavy liabilities. Cummings Bros., exporters of hardwood lumber and logs at Houston, Tex., failed for $100,000. The J. & P. Coates company of Glasgow, Scotland, has bought Clark's MileEnd thread mills at Newark, N. J., for $1,250,000. Three men were fatally injured and 20 others were more or less seriously injured in a trolley accident at a railway crossing in Hazieton, Pa. The Second national bank. the oldest financial institution in Rockford. III., closed its doors, having gone into voluntary liquidation. James Michael, the Welshman, broke the world's five-mile bicycle record on the Garfield park track in Chicago, his time being 9:17 1-5. The annual report of the third assistant postmaster general for the past fiscal year shows that the total expenditure for the year was $90,626,296 and receipts $82,499,208, leaving a deficiency of $8,127,085. or a reduction of $1,679,956 less than the preceding year. J. A. White shot and killed Richard M. Adams and William Jackson, police officers who were trying to arrest him at Columbus, Ga., and was himself shot dead. Michael Boyd and a man named Murphy were asphyxiated in a large gas tank at Syracuse, N. Y. In a wreck on the Florida Central road near Swansea, Ga., Baggage Master Lines and Mail Clerk Thomas were pinned down in the debris and burned to death. The Bank of Commerce, one of the leading financial institutions in Buffalo, N. Y., suspended because of heavy withdrawals. The Military Order of the Loyal Legion of the United States at its annual meeting in Philadelphia elected Rear Admiral Bancroft Gherardi, U. S. N., commander-in-chief. Settlers in Ontonagon and Gogebic counties, Mich., were meeting with heavy losses by forest fires. The president has appointed Robert A. Smith postmaster at St. Paul, Minn. The appointment ends a long contest over the office. Four members of the volunteer fire department of Blue Island, III., have been placed under arrest charged with burning the principal business block in that place some time ago.


Article from The Dakota Chief, October 22, 1896

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Duluth Bank Goes Under. The Marine National Bank at Duluth, Minn., has suspended. Inability to make collections rapid y enough to meet withdrawals was the cause. The bank has a capital of $250,000.


Article from The Worthington Advance, October 22, 1896

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News in Brief. The 3-year old daughter of Joseph Hershtowitz, of Minneapolis, overturned a lighted candle on herself setting her clothes on fire. Her injuries were fatal. Frederick Gagne, night watchman at the Minneapolis postoffice, while riding to work on a bicycle was run down by an interurban car and killed. J. M. U. Thompson, of Mathawa, was sentenced under the forestry law to pay a fine of $75 for setting a prairie fire and leaving it unprotected. The Marine National bank of Duluth has gone into liquidation. Burglars entered the residence of M. A. Lang, of Minneapolis, chloroformed the whole family, ransacked the entire house and carried off considerable plunder. Two troiley cars collided under the Milwaukee railway bridge in Minneapolis. B. O. Silverson was slightly injured. Pickpockets did a flourishing business at the Bryan meeting at Duluth. Twenty pockets were picked of wallets, according to the latest returns, and a number of diamonds were stolen. F. E. Brady, of St. Paul, lost a $200 stud, and E. C. Howard. of Duluth, lost a $200 stone and money and other articles to the value of $2,000. The president has appointed Robert A. Smith postmaster at St. Paul, Minn. The appointment ends a long contest over the office. Smith succeeds Henry A. Castle, commission expired. An unknown man was found dead in bed at the Hotel Ryan at Lake City. Death occurred from natural causes.


Article from The Salt Lake Herald, November 6, 1896

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RECEIVER FOR A BANK. WASHINGTON, Nov. 5.-Acting Comptroller Coffin says it will be necessary to appoint a receiver for the Marine National bank of Duluth, Minn. The assets of the bank from the examiners' report are $47,000, and liabilities $270,000.


Article from The San Francisco Call, November 6, 1896

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Necessary to Appoint a Receiver. WASHINGTON, D. C., Nov. 5.-Acting Comptroller Coffin says it will be necessary to appoint a receiver for the Marine National Bank of Duluth, Minn. The assets of the bank from the examiner's report are $472,000, and liabilities $270,000.


Article from Evening Star, November 12, 1896

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Bank Receiver Appointed. William E. Lucas has been appointed recelver of the Marine National Bank of Duluth, Minn. -


Article from The Worthington Advance, November 12, 1896

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The News Condensed. Important Intelligence From All Parts. DOMESTIC. The receipts of the United States for the month of October were $25,282,829 and the expenditures were $38,978,277, showing a deficit for October of $7,655,458. The total deficit since July 1, 1896, is $32,889,577. The wholesale clothing firm of Reis, Toons & Co. in Philadelphia failed for $100.000. About 2,100 employes have been added to the classified service by the issuance of an order by President Cleveland directing that the rules of the navy department regulating the employment of labor at the navy yards shall not be changed without the approval of the rivil service commission. The United States Carriage company's works at Columbus. O., were burned. Mrs. Annie Schrieber. aged 28, and her nepbew. a lad of 14, eloped from their nomes in Chicago and committed suicide in Elgin, III. Three vast waterspouts connecting clouds and sea was the rare phenomena witnessed by residents of Cottage City, Mass. Jeff Jackson, John Adams, William Taylor and Robert Allison, negro laborers, were murdered by white caps near Wild Fork. Ala. The Emerson Piano company that failed recently in Boston has resumed business. At Merlens, Tex., Peter Hansen split his wife's head open with an ax and then committed suicide by shooting himself. He charged his wife with infidelity. A telegram from Lick observatory in California announces the discovery of a faint comet by Perrine, an assistant at Lick. Consul General Fitzhugh Lee arrived in New York from Havana. Half an hour after Harrison Bacon. aged 73, a pioneer of Courtland, O., had cast his vote he dropped dead in the street of heart disease. Capt. Hatfield, of Hatfield-McCoy fame, killed Henderson Chambers and John and Elliott Rutherford at Matewan, W. Va., during a quarrel over politics. Hatfield escaped. Constable Francis De Long, one of the oldest residents of Joliet. III., was shot and instantly killed by Lyman Hall, a young man 24 years old, whom De Long was trying to arrest. The following officials have been removed from the treasury department by Secretary Carlisle for offensive partisanship: Judge W. E. Fleming, of Kentucky; Thomas F. Brantley, of South Carolina. and Burton T. Doyle. In a battle at Winchester, Ky., between a posse of policemen and at squad of negroes six colored men and three whites were shot, three of the negroes being fatally wounded. President Cleveland issued a proclamation naming Thursday, November 26. as Thangsgiving day. The Gem theater in St. Louis was destroyed by fire and William Gray. the stage manager, was fatally injured by jumping from a tbird-story window. The Carter-Crume company's woodPD disb factory in Saginaw, Mich., was destroyed by fire. W. White & Co.. one of the largest and oldest cotton-buying firms in Texas, failed in Dallas for $200,000. The Chicago stock exchange opened for business after being closed for six months. During a storm on Lake Erie several sailboats were capsized and Henry Mayo and Jacob and George Vergt were drowned. John H. Inman, head of the cotton house of Inman, Swan & Co., and a business man of national reputation, died in New York of heart failure, aged 53 years. William Mann (white) and Abe Goss (colored) were killed by the explosion of a locomotive boiler at Atlanta, Ga. Arthur L. Snook, a brakeman. shot and killed his wife in Kansas City, Mo., and then killed himself. cause is know & A receiver was asked for for the Marine national bank of Dulutb, Minn. The liabilities are $270,000. Stanley Barrows achieved the feat in Denver of riding the fastest mile ever made on a wheel, and that is without any pacing, his time being 58 seconds. All the pork butchers at the packing houses in Chicago struck because of the failure to advance their wages. Rev. E. S. Nicholson, of Kokomo, Ind., father of the temperance law. has been reelected to the legislature, with 800 votes to spare. The Golden Scepter Mining company at Quigley, Mont., has assigned with debts of $285,000. Conrad Eichhorn deliberately put his 13-year-old son to death in Toledo, O., and then committed suicide. Domestic trouble was the cause. The Manhattan Clothing & Shoe company at Dayton, O., assigned with liabilities of $100.000. The exchanges at the leading clearing houses in the United States during the week ended on the 6th aggregated $991,552,065, against $968,781,558 the previous week. The decrease compared with the corresponding week in 1895 is 12.6. Gaines Murphy, who was put on the ticket as a joke, was elected sheriff of Gibson county. Ind. Mrs McCarthy. of Scranton. Pa


Article from Little Falls Weekly Transcript, November 20, 1896

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-W. E. Lucas has been appointed receiver of the Marine National bank of Duluth, of which F.E. Searle was cashier.


Article from Iowa County Democrat, November 26, 1896

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TELEGRAMS IN BRIEF. DOMESTIC DOINGS. Mr. Bryan made a speech at Lincoln and his voice failed him. The second day's session of the National Grange at Washington was devoted to hearing reports and discussions. Former Congressman William S. Forman, of Illinois, was given the position of internal revenue commissioner. Chicago-A $75,000 fire burned the city manual training school. McKenzie, Tenn.-Charlie Allen, negro, was lynched for rape. New York-Mr. Moody has started a big revival in Cooper union. Gen. Thomas M. Vincent retires from active service in the army. New York-Horseless mail wagons are to be put on here next week. The national convention of the Woman's Christian Temperance union began in St. Louis. The Ozark Implement company of Springfield, Mo., has assigned, with liabilities of $19,000. Hudson, N. Y.-Dr. W. H. Stickles, a physician of Philmont, shot himself and is not expected to live. Detroit, Mich.-The Methodist bishops voted $134,000 for the work in India and $48,576 for work in Japan. The comptroller of the currency has appointed Willam E. Lucas receiver of the Marine National bank of Duluth. New York-Another bit of church gossip, probably without foundation, is the Cardinal Gibbons is in disfavor at Rome. Washington-Two hundred and one sound money republicans are elected to congress, with three districts in doubt. The Missouri river is frozen over at Chamberlain, S. D., the ice being strong enough to permit the passage of teams. The electric power generated by Niagara Falls and communicating with Buffalo was turned on and worked satisfactorily. The will of Mrs. W. H. Vanderbilt was filed for probate. By it most of her estate of $1,100,000 goes 10 the Kissam family. The Studebaker Manufacturing company of South Bend, Ind., has increased its capital stock from $1,000,000 to $3,600,000. Two more alleged girl burglars have been arrested at Milwaukee. They are Ida Muska, aged 16, and Theresa Retzak. aged 18. The board of aldermen of New York will be asked to pass an ordinance forbidding boys and girls to be in the streets at night. Fred Switzer, 18 years old, aceidentally shot himself through the heart at Owoso, Mich., while examining 1b revolver. Clapp & Co., doing a brokerage Iilli Now


Article from St. Johnsbury Caledonian, January 1, 1897

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assigned; aggregate liabilities, nearly $500,000. The Chicago Consolidated Iron and Steel Co. assigned; liabilities, about $300,000. B. Hilton, Hughes & Co., successors to A. T. Stewart & Co., New York, made a general assignment and closed business; liabilities over $1,000,000. 31. The Kings County Elevated Railway Co. of Brooklyn placed in hands of a receiver. SEPTEMBER. 4. The First National bank of Helena, Mon., failed, with heavy liabilities. 26. The First National bank of Springville, N. Y., suspended. Wolf Bros.' dry goods establishment in Little Rock closed by attachments; liabilities, $500,000. OCTOBER. 6. The Car and Lumber Co. of Tyler, Tex., failed; liabilities, $250,000. John Maclean & Co., wholesale millinery, failed in Montreal; liabilities, $175,000. B. L. Price & Co., clothing manufacturers, failed; liabilities, $125,000. 7. The First National bank of Ithaca, Mich., failed. 14. The Marine National bank of Duluth failed. 15. The Bank of Commerce of Buffalo closed its doors. 16. Merchants' National bank of Atlanta failed. 19. The Western New York Preserving Co., at Buffalo, seized by the sheriff for debt; 11abilities, $167,323. Charles Bertrand & Co., merchants, of Isle Verte, Que., failed, with liabilities of $235,000. 29. The Mecosta County Savings bank, at Big Rapids, Mich., suspended. NOVEMBER. 20. The First National bank of Sioux City, Ia., failed. 23. The Dakota National bank of Sioux Falls failed. 30. The Missouri National bank, at Kansas City, passed into the hands of the comptroller of the currency. The First National bank of Tyler, Tex., failed. DECEMBER. 1. Gage & Felton, bankers and brokers, failed in Boston.


Article from The Saint Paul Globe, March 9, 1897

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NEW YORK MINING STOCKS. Bulwer $0 50, Ontario $9 00 Cholor 80 90 Ophir 15 Crown Point 20 Plymouth Con. Cal. & Va. 1 40 1 00 Quicksilver Deadwood 1 25 10 00 do pfd 30 25 Sierra Nevada Gould & Curry Hale & Norcross. 80 Standard 1 75 Homestake 29 00 25 Union Con Iron Silver 39 20 Yellow Jacket Mexican 25 BOSTON MINING SHARES. Allouez Min. Co.. 1 Franklin 10ยฝ Atlantic 21 181/4 Kearsarge 32 Osceola Boston & Mont 120% 111 Butte & Boston 18ยฝ Quincy Calumet & Hecla.375 120 Tamarack Centennial Wolverine 891/4 97/8 FOREIGN FINANCIAL. NEW YORK, March 8.-Evening Post's London financial cablegram: Nothing is doing in the stock markets, pending Greece's definite reply to the powers, and the course of prices merely reflects local opinion on the situation. That this at the moment is favorable may be gathered from the rise of 1ยฝc in consols and the material gains in all the leading securities. Turkish securities were especially good. Briefly put, London has made up its mind that the powers want peace. Germany is supposed to be the only power really wishing to apply immediate and excessive coercion to Greece. Japan continues to absorb all the arrivals of gold other than sovereigns. Silver is demoralized by Japan's abandonment of the silver standard. Brazils were exceptionally flat on unfavorable reports of that country's finance and on the further fall in exchange. The Berlin market was steady. The Paris bourse was better, the settlements hi ving only forced one failure. INSOLVENT DIVIDENDS. WASHINGTON, March 8.-The comptroller of the currency has declared dividends in favor of the creditors of insolvent national banks, as follows: 10 per cent, the Marine National bank, of Duluth, Minn.; 10 per cent, the American National bank, of New Orleans; 5 per cent, Central National bank, Rome, N. Y. NEW YORK MONEY. NEW YORK. March 8.-Money on call easy, 11/2@1% per cent; last loan, 1ยฝ; closed at 1ยฝ @1% per cent. Prime mercantile paper, 3@4 per cent. Sterling exchange strong, with actual business in bankers' bills at $4.87ยฝ for demand and $4.85% for sixty days. Posted rates, $4.861/2 and $4.881/2. Commercial bills, $4.841/2. Silver certificates, 63%@64/c. Bar silver, 63%c. SAVINGS COMPANY FAILS. CINCINNATI, 0., March 8.-Hermann Brockman was this afternoon appointed receiver of the Consolidated Building and Savings company. The shareholders are mostly street railway employes. Liabilities, $230,000; assets, $175,000. BANK CLEARINGS. St. Paul-$448,426.47. Minneapoiis-$1,032.459. New York-Clearings, $63,703,781; balances, $3,878,296. Boston-Clearings, $11,384,010; balances, $1,156,608. TREASURY STATEMENT. WASHINGTON. March 8.-Today's statement of the condition of the treasury shows: Available cash balances, $212,245,324; gold reserve, $150,804,733. CHICAGO MONEY. CHICAGO, March 8.-New York exchange, 55c discount. Foreign exchange firm; demand, $4.871/4; sixty days, $4.851/2.


Article from The Madison Daily Leader, June 9, 1897

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BRIEF BITS OF NEWS. Byron McClelland, the well known turfman, is critically ill at Lexing ton, Ky. Dr. J. H. Michael, president of Monmouth college, Monmouth, Ills., has resigned his office, after 23 years of active service. The comptroller of the currency has declared a dividend of 10 per cent in favor of creditors of the Marine National bank of Duluth. A receiver has been appointed for the Centralia and Chester railroad running from Salem, Ills., to Evansville, a distance of 86 miles. Eight Democrats voted with the Republicans in favor of the lumber schedule in the tariff bill. Several of them were Southerners. An English syndicate has options on all the coal mines and lands in East Tennessee and Southern Kentucky along the Cincinnati Southern road. Formal application has been made by the Western Union Telegraph company to list $2,000,000 stock on the New York exchange. The stock is issued against improvements.


Article from The Saint Paul Globe, June 22, 1897

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Assessed the Stockholders. DULUTH, Minn., June 21.-Controller Eckels has notified Receiver William E. Lucas, of the Marine National bank, that an assessment of $78 per share has been levied on the stockholders of the bank, payable July 15.