Germania Bank (St Paul, MN)

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TODAY'S - NEWS A STORM OF PROSPERITY. The Germania Bank of St. Paul Assigns on Account of a Run. St. Paul, Jan. 4 -The Germania bank, a state institution, assigned today on account of a run made during the last two business days. Capital $400,000, deposits $1,000,000, reserves $1,625,000.

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ANOTHER BANK FAILS

Germania of St. Paul Assigns to Its Cashier. Hanover National Was the New York Correspondent of the Concern. ST. PAUL, Minn., Jan . 4.-The Germania Bank today assigned to Karst, its cashier. ST. PAUL, Minn., Jan. 4.-Allemania Bank, capital $400,000, and having a clientage similar to that of the Germania Bank, closed its doors soon after the other bank had announc a its assignment. The Allemania Bank was organized last year, being the successor of the Commercial Bank.

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More Bank Failures

ST. PAUL, Minn., Jan. 4.-The Germania Bank of this city closed its doors this morning. Its capital was $400,000, with a surplus of $59,000. December 17 the loans and discounts amounted to $975,000 and its deposits to $1,091,968. The Allemania Bank, of this city, closed its doors today. Its statement on December 17 shows as follows : Loans and discounts, $706,842; cash on hand and due from other banks, $192,066; deposits, $602,305. It held on January 1 St. Paul city funds to the amount of $51,000 and State funds aggregating $35,302. DUBUQUE, lowa, Jan. 4.-The City Bank of Nora Springs, Iowa, suspend. ed to-day.

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ANOTHER BANK

St. Paul, Minn., Jan. 4.-The Germania bank, a state institution, capital $400,000, did not open for business this morning, but announced an assignment to Peter M. Kerst, cashier of the bank. The liabilities of the bank are given at $1,625,768 and its resources at $1,625,788. The bank had been oragnized for many years ex-Governor Alex Ramsey being for a time its president, and Wm. Bickel, cashier. President Williams said to an Associated Press reporter today that the closing was the résult of the unreasonable panic, and that the bank would be opened for business as soon as people regained their usual good sense. The bank, as a result of the panicky feeling. had paid out to depositors $335,000 in the last nine days, and as they saw what continuation of this would lead to the directors decided to close for the present. Mr. Williams said he fully expected to have the bank open ready for busi ness by the last of March.

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St. Paul Banks Suspend. St. Paul, Minn., January 4.-The Germania bank of this city closed its doors this morning. Its capital was $400,000 with a surplus of $59,000. December 17 the loans and discounts amounted to $975,000 and the deposits to $1,091,968. The Allemania and West Side banks have also closed their doors.

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St. Paul, Minn., Jan. 4.-The Germania bank, of this city, closed its doors this morning. The capital was $400,000. Dec. 17 the loans and discounts amounted to $975,000, and its depisits to $1,091,968. The iannouncement was made by the officers of the bank that the institution had been assigned to Peter M. Kerst, who for the past year or two, has been the cashier of the bank. The announcement stated that the action was taken after full consideration of all the phases of the situation, the directors having decided it was best for all concerned that they should close. The bank stood a run for nearly two weeks, its depositors beginning to withdraw their accounts at the time the Bank of Minnesota closed on Dec. 22.

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BANKS SUSPEND

Two St. Paul Institutions Forced to Close Their Doors. Sr. PAUL, Jan. 5.-The Germania bank, one of the larger state institutions of the city, has closed its doors. The action is stated to have been taken in order to protect depositors. No statement has yet been made as to assets and liabilities. Half an hour after the failure of the Germania a run was started on the Allemania, which soon closed its doors. Various rumors were afloat, as to some of the other smaller banks but no serious trouble is anticipated.

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HREE BANKING HOUSES FAIL AT ST

PAUL AND A SAVINGS BANK TAKES ADVANTAGE OF 60-DAY CLAUSE. SEVERAL OTHER BANK FAILURES Assignments at Different Cities in the Northwest and Several in Texas. Causes Given for the Trouble of the St. Paul Banks. St. Paul, Jan. 4.-The Germania bank, a state institution, did not open for business today, but announced its assignment to the cashier. The bank stood a run of two weeks, the depositors starting drawing on the failure of the Bank of Minnesota. The last report, December 17, showed esources to be $1,625,768.01. Liabilities: Capital stock, $400,000; surplus and undivided profits, $508,087.25; dividends anpaid. $20.000: bank building, $75,000;

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BANKS BRACING UP

St. Paul and Minneapolis Concerns Recovering from Last Week's Shock ST. PAUL, Minn., Jan. 8, 1837.-The banks of St. Paul and Minneapolis are recovering much more rapidly than was expected from the shock of the past two weeks. The assets of the Germania Bank of St. Paul have been found in excellent shape and the reorganization will be pushed with all possible speed. The committee appointed by depositors of the/Bank of Minnesota to look after their interests while a reorganization is being perfected has met Wm. Dawson, President, and Wm. Dawson, Jr., Cashier of the bank, and obtained from them detailed accounts of the actual condition of the bank as they could furnish. This committee represents depositors who had on deposit more than $1,000,000, and are willing to act together in the matter of reorganization through the committee, It expects to have a plan to present to the depositors shortly by which they will eventually receive dollar for dollar. A serious question now being agitated is what the city and county is to do for funds with which to carry on the current business. In round figures there is tied up in the city and county funds in the four suspended banks $300,000, of which $247,000 belongs to the city and $53,000 to the county.

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St. Paul Banks Closed. ST. PAUL, Jan. 5.-The Germania bank, with deposits of $1,091,968 and the Allemania bank. with deposits of $602,305. have suspended payment. The trouble was caused by runs. Later the West Side bank closed its doors, and when a run on the Minnesota Savings bank began the officials decided to take advantage of the rule requiring sixty days' notice before withdrawing deposits.

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MINNESOTA BANKS RECOVERING, Reorganization to Be Pushed Forward Speed. ST. PAUL, MINN., Jan. 8.-The banks of St. Paul and Minneapolis are recovering much more rapidly than was expected from the shock of the past two weeks. The assets of the Germania Bank of St. Paul have been found in excellent shape and the reorganization will be pushed with all possible speed. The committees appointed by depositors of the Bank of Minnesota to look after their interests while the reorganization is being perfected, has met Wm. Dawson, president, and Wm. Dawson, Jr., cashier of the bank, and obtained from them as detailed accounts of the actual condition of the bank as they could furnish. This committee represents depositors who had on deposit more than $1.000,000, and are willing to act together in the matter of reorganization through the committee. It expects to have a plan to present to the depositors shortly by which they will eventually receive dollar for dollar. A serious question now being agitated is what the city and county is to do for funds with which to carry on business. In round figures there is fied up in city and county funds in the four suspended banks $300,000. of which $247,000 belongs to the city and $53,000 to the county

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ST. PAUL BANK CIRCLES SERENE. The Situation in Minneapolis Also Improving Rapidly. St. Paul, Minn., Jan. 8.-The banks of St. Paul and Minneapolis are recovering much more rapid than was expected from the shock of the past two weeks. The assets of the Germania Bank of St. Paul have been found in excellent shape, and the reorganization will be pushed with all possible speed. The committee appointed by the depositors of the Bank of Minnesota to look after their interests while a reorganization is being perfected has met William Dawson, president, and William Dawson, Jr., cashier, of the bank, and obtained from them as detailed accounts of the actual condition of the bank as they could furnish. This committee represents depositors who had on deposit more than $1,000,000, and are willing to act together in the matter of reorganization through the committee. It expects to have a plan to present to the depositors shortly by which they will eventually receive dollar for dollar. A serious question now being agitated is what the city and county is to do for funds with which to carry on the current business. In round figures, there is tied up in city and county funds in the four suspended banks $300,000, of which $247,000 belongs to the city and $53,000 to the county.

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WESTERN BANKS TO REORGANIZE

A Better Outlook in St. Paul and Minneapolis. Sr. PAUL, Minn., Jan. 8.-The banks of St. Paul and Minneapolis are recovering much more rapidly than was expected from the shock of the last two weeks. The assets of the Germania Bank of St. Paul have been found to bein excellent condition, and the reorganization will be pushed with all possible speed. The committee appointed by depositors of the Bank of Minnesota to look after their interests while a reorganization is being perfected has met William Dawson. President, and William Dawson. Jr., cashier of the bank. and obtained from them detailed accounts of the condition of the bank. This committee represents depositors who had on deposit more than $1,000,000. and are willing to act together in the matter of reorganization through the committee. It expects to have a plan to present to the depositors soon by which they eventually will receive dollar for dollar. A serious question now being agitated is what the city and the county are to do for funds with which to carry on current business. In round figures there is tied up in city and county funds in the four suspended banks $300,000. of which $247,000 belongs to the city and $53,000 to the county.

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ST. PAUL BANKS RECOVERING. Reorganization Proceeding - Question as to Public Funds. ST. PAUL, MINN., January 8.-The banks of St. Paul and Minneapolis are recovering much more rapidly than was expected from the shock of the past two weeks. The assets of the Germania Bank of St. Paul have been found in excellent shape, and the reorganization of the institution will be pushed with all possible speed. The committee apppointed by the depositors of the Bank of Minnesota to look after their interests while reorganization is being perfected has met William Dawson, president, and William Dawson. Jr., cashier of the bank, and obtained from them as detailed accounts of the actual condition of the bank as they could furnish. This committee represents depositors who had on deposit more than $1,000,000 and are willing to act together in the matter of reorganization through the committee. It expects to have a plan to present to the depositors shortly, by which they will eventually receive dollar for dollar. A serious question now being agitated is what the city and county are going to do for funds with which to carry on current business. In round figures, there is tied up in city and county funds in the four suspended banks $300,000, of which $247,000 belongs to the city, and $53,000 to the county.

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CONDITION AT ST

PAUL. Marked Activity in Banking Circles-The City in a Bad Way Financially. St. Paul., Minn., Jan. 8.-The banks of St. Paul and Minneapolis are recovering much more rapidly than was expected from the shock of the past two weeks. The assets of the Germania bank of St. Paul, have been found in excellent shape and the reorganization will be pushed with all possible speed. The committee appointed by depositors of the Bank of Minnesota to look after their interests while a reorganization is being perfected has met William Dawson, president, and William Dawson, Jr., cashier of the bank, and obtained from them as detailed accounts of the actual condition of the bank as they could furmish. The committee represents depositors who had on deposit more than $1,000,000, and are willing to act together in the matter of reorganization through the committee. It expects to have a plan to present to the depositors shortly by which they will eventually receive dollar for dollar. A serious question now being agitated is what the city and county is to do for funds with which to carry on the current business. In round figures there is tied up in the city and county-funds in the four suspended banks $300,000, of which $247,000 belongs to the city, and $53,000 to the county.

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St. Paul Bank Fails. The Germania Bank of St. Paul did not open for business Monday, but announced its assignment to Peter M. Kerst, who for the last year or two has been its cashier. The bank stood a run for nearly two weeks, its depositors beginning to withdraw their deposits at the time the Bank of Minnesota closed.

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St. Pan! Bank Fails. The Germania Bank of St. Paul did not open for business Monday, but announced its assignment to Peter M. Kerst, who for the last year or two has been its cashier. The bank stood a run for nearly two weeks, its depositors beginning to withdraw their deposits at the time the Bank of Minnesota closed.

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Asks for a Receiver

ST. PAUL, Minn., March 6.-William P. Jewett and Alexander M. Drake as trustees for land grant bondholders of the Sioux City & St. Paul Railroad company, have begun suit against the Germania bank of St. Paul, which failed January last, cashier and assignee, Peter M. Kerst, and all the stockholders of the bank to enforce the double liability of stockholders and asking the removal of Mr. Kerst as assignee on the ground that he was the cashier who received a deposit of $10,000 from the railroad company, knowing the bank to be insolvent, and that as cashier he was ineligible to serve as assignee. The petition further asks the appointment of a receiver for the bank.

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LAST week arrangements were completed by which the Germania Bank of St. Paul was allowed to reopen its doors for the transaction of business. This good news should be spread as widely as the announcement of its suspension six months ago.

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Now the Northern Pacific railroad has a new president, and he is an Eastern man. The Germania bank of St. Paul, which suspended last winter, has reorganized and is again open for business.