Columbia National Bank (Minneapolis, MN)

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Episode Information

Episode UID
473901164
Episode Type
Run β†’ Suspension β†’ Closure
Bank Type
national
Bank ID
47390 national
Charter Number
4739
Start Date
December 29, 1896
Location
Minneapolis, Minnesota (44.980, -93.264)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2df8b6b3e36ba46d

Response Measures

Full suspension, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1897-01-14
Date receivership terminated
1900-01-22
OCC cause of failure
Losses
Share of assets assessed as good
34.4%
Share of assets assessed as doubtful
46.2%
Share of assets assessed as worthless
19.4%

Description

Suspension followed heavy withdrawals; receiver later appointed (per Jan 1897 reports).

Events (6)
1. May 13, 1892 Chartered
Source
historical_nic
2. December 29, 1896 Run
Cause
Correspondent
Cause Details
Recent withdrawals of city and state funds and large withdrawals by country correspondents precipitated heavy withdrawals
Measures
Officers consulted clearing house committee; bank closed early to protect majority; placed in charge of deputy comptroller
Newspaper Excerpt
Owing to recent heavy withdrawals and inability to make collections, payment has been suspended
Source
newspapers
3. December 30, 1896 Suspension
Cause
Correspondent
Cause Details
Closed after heavy withdrawals and inability to make collections, including withdrawals of city and state funds and by country correspondents
Newspaper Excerpt
The Columbia National bank ... has closed its doors and is now in the hands of the bank examiner
Source
newspapers
4. January 14, 1897 Receivership
Source
historical_nic
5. January 26, 1897 Receivership
Newspaper Excerpt
The comptroller of the currency appointed J. B. Atwater of Minneapolis receiver of the Columbia National bank of Minneapolis.
Source
newspapers
6. May 29, 1897 Other
Newspaper Excerpt
A dividend of 40 per cent, amounting to $500, has been paid ... by Receiver Atwater of the Columbia National bank.
Source
newspapers

Newspaper Articles (25)
1. December 29, 1896 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, December 29, 1896

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The Day's Failures. Minneapolis, Dec. 29-The Washington bank, a state institution closed its doors at noon. It had a capital of $100,000. The statement Dec. 17 showed loans and discounts $507,145; cash, $88,272; other assets, $48,868; deposits, $523,667. Minneapolis, Dec. 29.-The Columbia National bank, comparatively recently established, with a capital of $200,000, was sent into the hands of the bank examiner this morning. The statement Dec. 17 showed loans and discounts of $348,145. while other resources aggregate $188,000. The deposits were $183,000, due other banks $137,000, notes outstanding $45,000. Chicago, Dec. 29.-The attorney for Van Norwick Bros., manufacturers of papers and other things, of Batavia, Ill., who assigned yesterday, says the exact figures are not yet obtainable, but believes the assets are fully a million, and the liabilities cannot possibly exceed half that amount. They must, however, have time in order to pay in full.

2. December 30, 1896 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, December 30, 1896

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National bank, of Roanoke, Va., and the Columbia National bank, of Minneoplis, were added to the list today. They are comparatively small institutions, however, and, under ordinary circumstances, their failure, it is said, would attract only passing attention. Mr. Eckles, when asked today by a representative of the Associated Press as to the general banking situation, said: "Of course bank failures are more or less disquieting, but those which have occurred recently have little or no general significence attached to them. They were due largely to local causes, wholly unconnected with the general condition of the bank throughout the country at large. The case of the Atlas bank was not a failure at all, but was a mere voluntary liquidation, every depositor being paid in full. The two failures today are of minor importance, in each case the bank's capital being only $200,000. As against these few failures, based on local causes, the general condition of the banks is excellent. The reports received under the last call, that of December 17, are uniformly favorable and show an average reserve held of considerably above the 25 per cent required by law. One of the last reports, that of the Brooklyn banks, shows the average reserve held to be 34.02 per cent, and most of the reports run 5 or 10 per cent above the legal requirements. In each case, too, the assets in detail make an entirely satisfactory showing, as compared with the liabilities. On the whole, it is evident that the national banks today are as stable as they ever were, and the sporadic failure of a bank here and there through defects peculiar to the failing bank, is of small importance, wholly without general significance. "I am advised from Minneapolis that the failure there has occasioned no disturbance beyond the institution concerned."

3. December 30, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, December 30, 1896

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TWO FAILURES IN MINNEAPOLIS. Columbia National and the Washington Close Doors. MINNEAPOLIS Dec. 29.-The Columbia National bank. a small Institution of comparatively recent establishment and $200.000 capital, closed this morning and is in the hands of the bank examiner. According to the last statement. December 17. its affairs stood: Loans and discounts, $348.145: bonds to secure circulation, $50,000; real estate and mortgages, $48,728; due from other banks. $42,897; cash reserve, $34,872; other cash items. $11,852. Liabilities are: National bank notes outstanding. $45,000 due other banks. $136,579 deposits subject to check. $101.157; certificates of deposit, $63,594 certified and cashiers' checks, $3,313; bills payable, $15,000. Cashier Joseph Bobleter said: 'We could have stood the pressure a little longer, but to protect the majority we closed this morning. We have $33,000 cash. and inside of sixty days expect to have fully $100,000 more collected. Our total liabilities are only $247,000. There is no doubt that we will be able to pay depositors in full and to effect a fair settlement with the stockholders. Recent withdrawals of city and state funds, and by country correspondents, caused the trouble." The officers are: President. Charles Kittleson; vice president, H. Thorson; cashier, Joseph Bobieter. The bank is in charge of George H. Coffin, deputy comptroller. "I believe," said he. "that the suspension will not cause any further trouble. The national banks of this city are strong financially, as we have satisfied ourselves by examination. The Washington bank. a state Institution, closed its doors at noon. It had a capital of $100,000. and in its last statement at the close of business, December 17. had $706,104 in loans and discounts, $14,228 overdrafts secured, $20,165 in stocks and bonds, $14,475 real estate, and $88,272 cash on hand. Deposits were $363.132. certifled deposits, $112,587 bank deposits, $84,937 A C. Haugan, city treasurer, was one of the founders of the bank. and one of the directors. O. E. Breecke is cashier. The suspension of the Washington bank was due to the fact that its clientele, being the same as that of the suspended Columbian National bank and Scandia bank, became alarmed and began to draw out deposits this morning at such & rate that the management decided that the best interests of all would be served by closing the bank. Its condition is most excellent, the assets being $600,000. and the liabilities $500,000. There is little real estate among the former. and they can be quickly converted into money. The following anouncement was made by the clearing house committee this afternoon The clearing house committee deem it their duty to announce that their investigations warrant them in advancing whatever sum of money may be needed by the Scandia bank to meet promptly any calls upon them by the depositors. This bank has an unusually large available cash reserve, amounting to about 55 per cent. of its obligations, and its bills receivable are of such a class that we have no hesitation in saying we will make them the necessary advances to meet all demands, and that we do not Book for further trouble among the banks of this city." A Virginia Bank Succumbs. ROANOKE Va. Dec. 29. The Commercial National bank of this city closed Its dcors this morning by order of the board of directors On December 9. J.C. Davenport. the cashier, resigned, and his succersor was elected. The matter was kept quiet until Sunday night. when Davenport left the city for his home at Charleston. W Va. As soon as this became known a general run was made on the bank. and it ofwas compelled to go to the wall. The ficials say depositors will be paid in full. The liabilities are about $65,000. while the valuable assets are estimated to be worth double that amount The last report November 1 showed the assets of the bank to be $263,704. including bonds for circulation: stocks. $100,000; surplus, $25,000; undivided profits $6,000: owing depositors, $75,000: other liabilities $35,000. The failure is attributed by Mr. Eckeis in part to speculation. New Cashier Chosen. DENVER Col. Dec. 29 Dr. D. H. Dougan, president of the Carbonate National bank. of Leadville, has been chosen cashter of the Bank of Commerce in this city. He says the Carbonate bank will probabiy liquidate gradually during the next year. as Leadville in no longer a profitsbie field for so large an Institution. The Batavia Assignment. A. CHICAGO. Dec. -Attorney W. Green who drew up the assignment papers for the Batavia bank. disclosed the principal causes which led up to the assignment in an interview today. Aside from the Atlas bank liquidation, the most important factor that caused the Van Nortwick crash, he said, was the recent failure to dispose of $300,000 worth of bonds in the

4. December 30, 1896 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, December 30, 1896

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WILL PAY IN FULL Columbia National Bank at Minneapolis Concludes to Close Its Doors. Decision Reached After Conference With the Clearing House Committee. The Van Nortwick Bank of Batavia, Ills., Also Suspends Payment. MINNEAPOLIS. Dec. 30.-The Columbia National bank a small institution of comparatively recent establishment and $200,000 capital, has closed its doors and is now in the hands of the bank examiner. According to its last statement. 1 le Dec. 17, it had loans and discounts, $348,145; United States bonds to secure circulation, $50,000; real estate and mortgages, $48,728; due from other banks, $42,897; cash reserve, $34,672; other cash items, $11,852. National bank notes outstanding, $45,000; due other banks, $136,579; deposits subject to check, $101,507; certificatss of deposit, $63,594; certified and cashier's checks, $3,313; bills payable, $15,000. Will Pay All 1 epositors. Ex-State Treasurer Joseph Bobleter was cashier. and Ex-Treasurer Charles Kittelson was president. Cashier Bobleter said : "We could have stood the pressure a little longer. but to protect the majority we closed. We have $33,000 cash in the vault, and inside of 60 days expect to have fully $100,000 more `collected. Our total liability is only $247,000, and much of that, you understand, is not immediate. Thereis no doubt but what we will be able to make a full accounting with our depositors and a fair settlement with the stockholders. The recent withdrawals which caused the trouble were city and state funds, of which we had large deposits, and also by country correspondents. Of the city and state money, only about $1,200 remains in the bank. The majority of our individual depositors were business men." Other Banks Are Strong. The bank is in the immediate charge of George M. Coffin, deputy controller of the currency. He states that officers of the bank applied to the clearing house committee for assistance Monday, but this body and the directors of the bank, finally agreed that the best thing would be to close. "I believe," said Mr. Coffin, "that this action was anticipated by all parties interested and the suspension will not cause any further trouble. All the national banks of this city are in a very strong condition financially, as we have satisfied ourselves by examination."

5. December 30, 1896 The Times Richmond, VA
Article from The Times, December 30, 1896

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BUSINESS TROUBLES. Two Minneapolis Banks Close Their Doors Other Failures, MINNEAPOLIS, MINN., Dec. 29.-The Columbian National bank, of this city, closed its doors this morning owing to inability to make collections. It is a comparatively new bank, having been organized about five years ago with exState Treasurer Charles Kittleson as its president and ex-State Treasurer Bobleter as cashier, which positions they still held. Its capital on December 18th was $200,000 with a surplus of about $6,000. loans and discounts were $348,000 and its deposits $264,000. It has never been profitable. Deputy Controller of the Currency George W. Coffin, who happened to be in the city, took charge of the bank. Its officers claim that they will be able to pay depositors in full. The Washington Bank, of this city, has closed its doors. Its last statement, December 17th, shows loans and discounts of $500,000. and deposits of $540,000. Its capital is $100,000 and its surplus $13,000. A. C. Haugan, its president, is city treasurer and it is likely that quite an amount of city funds will be lΓΆcked up by the failure. Its business is largely with working people. The officers claim that they will be able to pay them in full. The#suspension of the Scandia yesterday and the Columbia this morning created consternation among the patrons of the Washington Bank, and such a "run" ensued that the bank was compelled to close its doors about noon. Cashier Brecke stated this afternoon that aside from the matter of cash on hand, the bank was in excellent shape. Exactly what will be done has not yet been determined. It is very likely that the suspension will be only temporary, as the resources of the bank are in such shape that its depositors can be paid in full in a comparatively short time. and fifty cents on the dollar within two months. In round numbers, the liabilities are $500,000 and the assets $600,000. the latter only $14,500 is real estate. The announcement of the failure of the Columbia and Washington Banks caused a considerable flurry at nearly all of the other banks of mers city. The and biggest run was on the Mechanics Bank, the largest savings institution in the Northwest, with deposits of over $6,000,000. This bank is said to be entirely safe. It stood a run of eight days during the panic of 1893. PROVIDENCE, R I., Dec. 29.-The Phoenix Woolen Company filed its petition of insolvency in the Appellate Court to-day. Liabilities, $300,000. The assets about $250,000. CHICAGO, ILL., Dec. 29.-As a result of the voluntary liquidation of the Atlas National Bank, of this city, W11liam M. and John S. Van Nortwick, who held 464 shares of stock in that bank, and were borrowers therefrom to the amount of $300,000, made an assignment yesterday to the Equitable Trust Company, of Chicago, who took possession of the Van Nortwick's bank at Batavia yesterday. The failure involves the entire interests of the Van Nortwicks, whose estimated wealth. according to their last statement, is $2,500,000, often estimated at three times that amount, and representing besides the Van Nortwick Bank and other property at Batavia, large manufacturing interests. The total nabilities will be near $2,000,000. BALTIMORE, Dec. 29.-L. Snellberger & Son, leading retail dry-goods merchants, of South Baltimore, made an assignment Mo-day. Liabilities, $50,000; assets, about the same amount. Pressure of creditors and slow collections caused the suspension. SIOUX CITY IA.. Dec. 29.-On application of W. T. Honsinger, vice-president, and a large shareholder in the Farmers' Trust Company, of this place; G. H. Hollister was to-day appointed receiver for the institution. Receiver Hollister estimates assets at $238,000 and lia-

6. December 30, 1896 The Evening Herald Shenandoah, PA
Article from The Evening Herald, December 30, 1896

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THE BANK FAILURES. Comptroller of the Currency Eckels Feels No Apprehension. HAVE NO GENERAL SIGNIFICANCE. The Comptroller Declares That the Suspensions Are Wholly Due to Local Causes Not Connected with the Condition of Banks in the Country at Large. WASHINGTON. Dec. 30.-Comptroller of the Currency Eckels said today that he feels no apprehension over the bank failures which have occurred of late. Two more failures, the Commere 11 National bank, of Roanoke, Va., and the 3016 mbia National, of Minneapolis, were added to the list yesterday. They are comparatively small institutions, however, and under ordinary circumstances their failure, it is said, would attract only passing attention. Mr. Eckels when asked today by a representative of the Associated Press as to the general banking situation, said: "Of course bank failures are more or less disquieting, but those which have OCcurred recently have little or no general significance attached to them. They were due largely to local causes, wholly unconnected with the general condition of the banks through the country at large. The case of the Atlas bank, of Chicago, was not a failure at all, but was a mere voluntary liquidation, every depositor being paid in full. The two failures yesterday are of minor importance, in each case the bank capital being only $200,000. As against these few failures, based on local causes, the general condition of banks is excellent. The reports received under the last call-that of Dec. 17-are uniformly favorable, and show an average reserve held of considerable above the 25 per cent. required by law. One of the last reports, that of the Brooklyn banks, shows the average reserve held to be 34.02 per cent., and most of the reports run 5 or 10 per cent. above the legal requirement. In each case, too, the assets in detail make an entirely different showing as compared with the liabilities. "On the whole it is evident that the national banks today are as stable as they ever were, and the sporadic failure of a bank here and there through defects peculiar to the failing bank is of small importance, wholly without general significance. I am advised from Minneapolis that the failure there has occasioned no disturbance beyond the institution concerned."

7. December 30, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 30, 1896

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COLUMBIA SHUTS UP. The Young National Bank Fails to Open. Upon the front door of the Columbia National bank yesterday morning was this notice signed by Joseph Bobleter, its cashier: Owing to recent heavy withdrawals and inability to make collections, payment has been suspended, and the bank is in charge of the comptroller of the currency pending an investigation of its affairs. George M. Coffin, deputy comptroller of the currency, was in the city and took charge of the bank. He said: "The officers of the bank consulted the local clearing house committee yesterday afternoon, for advice, and it was decided that the best thing to do was to close this morning before any further withdrawals were made. Consequently, quite a large amount of cash remains in the vault. It is impossible to say what the final settlement with the creditors will be, because we have made no canvass of the assets." Cashier Bobleter said: "We could have stood the pressure a little longer, but to protect the majority we closed this morning. We have $33,000 cash in the vault, and inside of 60 days expect to have fully $100,000 more collected. Our total liability is only $247,000, and much of that, you understand, is not immediate. There is no doubt but what we will be able to make a full accounting with our depositors, and a fair settlement with the stockholders. "The recent withdrawals which caused the trouble were city and state funds, of which we had large deposits, and also by country correspondents. Of the city and state money, only about $1,200 remains in the bank. The majority of our individual depositors were business men, the bank having very little patronage from the laboring people." The following is a statement of the condition of the bank as reported Dec. 17, 1896:

8. December 30, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 30, 1896

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WASHINGTON, Dec. 29.-Comptroller Eckels has ordered Bank Examiner Cook, of Illinois, to go to Minneapolis and take charge of affairs of Columbia National bank. Mr. Eckels says he will not name a receiver until Mr. Cook reports. Examiner Brush is at Duluth and cannot leave, hence Mr. Cook's transfer from Illinois. Mr. Eckels said: "I have received several telegrams from Minneapolis saying that the failure of the Columbia will not affect banking circles seriously. I was informed yesterday that the bank was not permitted to clear through the Clearing House association."

9. December 30, 1896 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, December 30, 1896

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ECKELS ON THE SITUATION. He Feels No Apprehension on Account of Recent Failures. Washington, December 29.-Comptroller of the Currency Eckels said this afternoon that he feels no apprehension over the bank failures which have occurred of late. Two more failures, the Commercial National bank of Roanoke, Va., and the Columbia National bank of Minneapolis, were added to the list today. They were comparatively small institutions, however, and under ordinary circumstances their failure, it is said, would attract only passing attention. Mr. Eckels when asked today by a representative of the Associated Press as to the general banking situation said: "Of course bank failures are more of less disquieting, but those which have 00curred recently. have little or no general significance attached to them. They were due largely to local causes, wholly unconnected with the general condition of the banks through the country at large. The case of the Atlas bank was not a failure at all, but was a mere voluntary liquidation, every depositor being paid in full. The two failures today were of minor import$200,000. ance, in each case the assets being only "As against these failures, based on local causes, the general condition of the banks is excellent. The reports received under the last call, that of December 17, are uniformly favorable and show an average reserve held of considerably above the 25 per cent required by law. "One of the last reports, that of the Brooklyn banks, show the average reserve held to be 34.02 per cent and most of the reports run 5 or 10 per cent above the 10gal requirements. "In each case the assets in detail make an entirely satisfactory showing as compared with the liabilities. On the whole it is evident that the National banks today are as stable as they ever were, and the sporadic failures of a bank here and there through defects poculiar to the failing bank is of little importance and wholly without general significance. I am advised from Minneapolis that the failure there has occasioned no disturbance beyond the institution concerned."

10. December 31, 1896 The Times Richmond, VA
Article from The Times, December 31, 1896

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Another Minneapolis Bank Closes-Condition of Other Institutions. MINNEAPOLIS, MINN., Dec. 30.-The Bankers' Exchange Bank went into the hands of Bank Examiner Kenyon this morning. Depositors have drawn out about $35,000 the past few days, and President Field concluded to close, though he had in the vaults nearly 30 per cent. of all the money en deposit The bank is less than a year old, having been incorporated last year. Its loans and discounts are $68,000; its capital $30,000, and its deposits are about $40,000. Depositors will be paid in full, and a fair sum will be left for stockholders George Maxwell, vice president of the Northern Trust Company, made application this morning for a receiver of the company. A. R. McGill ex-Governor of Minnesota, is the president of the or ganization. The following statement was issued by the company "This company has for some time been seeking to realize upon its loans and securities, and has until now been able to maintain itself without difficulty, but the depressed condition of finances is such that it has been unable to realize as it had hoped, and the suspension within two or three days of some of the banks of the city, in which was deposited some of its available funds, has somewhat embarrassed it in the transaction of its business, Independent of its assets, the company has a list of responsible stock holders, who are abundantly able to make good any deficiency that may result from depreciation in value of its assets, so that the creditors of the company need have no apprehension as to the ultimate results, their claims will all be paid in full, even if the company is not permitted to immediately resume, as is now hoped. The liabilities of the company are about $500,000. Judge Jamison issued a restraining or der. returnable at 10 o'clock to-morrow morning. Judge Belden signed an order this morning appointing Judge A. Ueland receiver of the Washington Bank under a bond of $200,000 The petition recites that the bank has $27.77 more liabilities than assets. Deputy Comptroller Coffin is still in charge of the Columbia National Bank awaiting the arrival of Bank Examiner Cooke The Farmers and Mechanics Bank issued a notice this morning requiring all depositors to give sixty days notice before being permitted to draw deposits. The bank issued a statement saying it had $800,000 in its vaults. The ClearingHouse Association held a meeting and resolved to stand by all of the ten banks which are members of the organization. There was a heavy run on the St. Anthony Fall Bank of this city this forenoon. All demands were paid, and the excitement quieted down. CHICAGO Dec. A. Paulsen, who was the principal owner of the failed Central Trust and Savings Bank filed a bill in the Circuit Court to-day to restrain the Atlas National Bank from disposing of a note for $30,000 made by him to the bank and to restrain President Grannis and Charles B. Farwell, a director and x-United States senator, from disposing of their own property, so that Paulsen cannot collect any of the damages he may be awarded at the trial of his suit for $250,000 against the bank Grannis and Farwell in connection with the $30,000 note and the closing of Paulsen's bank by the failure of the Atlas to clear for it. In his bill Paulsen sets up the liquida. tion of the Atlas Bank now in progress and states his belief. that. notwithstanding all the depositors are being paid in full. it is hopelessly insolvent and will not pay its depositors from its own funds He also alleges that the Atlas Bank still holds him as endorser on the $30,000 note although the courts have held it to be fraudulent. and also unlawfully withholds $40,000 of collateral bonds belonging to him APPLETON WIS. Dec. 0.-John S Van Nortwick to-day made an individual assignment of his Fox river interests naming Postmester John M. Bear of this city, as receiver the latter giving bonds for $250,000. The principal property included in this assignment are the plants of the Combined Locks Paper Company, the Appleton Pulp and Paper Company, Union Paper Company at Kaukauna Wis.: Fibre Company at Monoca: 740 shares in the Green Bay and Mississippi Canal Company the face value of which is $740,000. and miner interests, including his residence in this city. DALLAS TEXAS. Dec. 30.-Telegrams to commercial agencies at Dallas announce the failure of A.A. Bahn feweler at Austin Texas Liabilities $30,000: assets. $10,000 Eastern creditors are caught for only $5,000. Three Austin banks are owed $10,000. PARKERSBURG W. VA., Dec. 30.-Isaac Prager & Sons, extensive retail dry-goods dealers, made an assignment yesterday. Assets and liabilities are estimated at $100,000. MONTGOMERY, ALA., Dec. -The Commercial Bank of Selma failed to open its doors for business to-day. instead a notice was posted stating that the Board of Directors had decided to make an assignment The cause of this action was the heavy run made on the bank in the last few days. The bank was a heavy debtor to New York banks, among them the Chemical, American Exchange Nattobal City, Third National of Montreal, and National Bank of the Republic, and they sent an attorney some days ago to investigate its condition. The knowledge of the attorney's presence had a great deal to do with the run. The Board of Directors arrived at the conclusion to assign after a long and continued session lasting until after midnight last night. The officers of the bank are. R. M. Nelson, president: Geo. A. Wilkins, vice-president; A. E. Baker, cashier. The patrons of the bank have cont. dence that it will soon resume business and are signing an agreement to withdraw their deposits. one-third in three months. one-third in six months, and one-third in nine months. There is no public statement as yet of assets and liabilities. The business men are hopeful that the failure will not be detrimental to their interests. HORRIBLE BRUTALITY

11. December 31, 1896 The Morning News Savannah, GA
Article from The Morning News, December 31, 1896

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MONEY PANIC OF MINNEAPOLIS BANKERS EXCHANGE BANK NOW SHUTS ITS DOORS. Signs of a Run Induce the President to Suspend Business-Money Representing One Third of Its Deposits Now in Its Vaults-Some of Its Funds Tied Up in Other Banks in the City That Have Closed. Minneapolis, Minn., Dec. 30.-The Bankers' Exchange Bank went into the hands of Bank Examiner Kenyon this morning. Depositors have drawn about $35,000 the past few days, and President Field concluded to close, though he had in the vaults nearly 30 per cent. of all the money on deposit. The bank is less than a year old, having been incorporated last year. Its loans and discounts are $68,000; its capital $30,000, and its deposits are about $40,000. Depositors will be paid in full, and a fair sum will be left for the stockholders. George Maxwell, vice president of the Northern Trust Company, made application this morning for a receiver for the company. A. R. McGill, ex-governor of Minnesota, is president of the organization. The following statement was issued by the company: "This company has for some time been seeking to realize on its loans and securities, and has until now been able to maintain itself without difficulty, but the present depressed condition of finances is such that it has been unable to realize as it had hoped, and the suspension within two or three days of some of the banks of the city, in which was deposited some of its available funds, has somewhat embarrassed it in the tranaction of its business. "Independent of its assets, the company has a list of responsible stockholders, who are abundantly able to make good any deficiency that may result from depreciation in the value of its assets, so that the creditors of the company need have no apprehension as to the ultimate results. Their claims will all be paid in full, even if the company is not permitted to immediately resume business as is now hoped." The liabilities of the company are about $500,000. Judge Jamison issued a restraining order returnable at 10 o'clock tomorrow morning. Judge Belden signed an order this morning appointing Judge Neland receiver of the Washington bank, under a bond of $200,000. The petition recites that the bank has $27,774 more liabilities than assets. Deputy Controller Coffin is still in charge of the Columbia National Bank, awaiting the arrival of Bank Examiner Cooke. The Farmers and Mechanics Bank issued a notice this morning requiring all depositors to give sixty days notice before being permitted to draw deposits. The bank issued a statement saying it had $800,000 in its vaults. The clearing house associated held a meeting and resolved to stand by all of the ten banks which are members of the organization. There was a heavy run on the St. Anthony Falls Bank of this city this forenoon. All demands were paid and the excitement quieted down.

12. December 31, 1896 The Sauk Centre Herald Sauk Centre, MN
Article from The Sauk Centre Herald, December 31, 1896

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Two Minneapolis Bank Failures. MINNEAPOLIS, Dec. 30.-The Columbia National bank, a small institution of comparatively recent establishment and $200,000 capital, has closed its doors because of heavy withdrawals. The Washington bank, a state institution, has also suspended. It had a capital of $100,000.

13. December 31, 1896 The Butler Weekly Times Butler, MO
Article from The Butler Weekly Times, December 31, 1896

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Washington, D C., Dec. 29.Comptroller of the Currency Eckels said this afternoon that he feels no apprehension over the bank failures which have occurred of late Two more failures, the Commercial National bank of Roanoke, Va. and the Columbia National of Minneapolis, were added to the list to day. They comparatively small institutions, however, and under ordinary circumstances their failure, it is said, would attract only passing attention. Mr. Eckele, when asked to day by a representative of the Associated Press as to the general banking situation, said: "Of course bank failures are more or less disquieting, but those which have occurred recently have little or no general significance attached to them. They were due largely to local causee, wholly unconnected with the general condition of the banks through the country at large. The case of the Atlas bank was not a failure at all, but was a mere voluntary liquidation, every depositor being paid in full. The two failures to day are of minor importance. As against these few failures, based on local causes, the general condition of the banks is excellent. The reports received under the last call, that of December 17, are uniformly favorable, and show an average reserve held of considerably above the 25 per cent required by the law. One of the last reports, that of the Brooklyn banks, shows the average reserve held to be 34 02 per cent, and most of the reports run 5 or 10 per cent above the legal requirements. In each case, too, the assets in detail make an entirely satisfactory showing as compared with the liabilities. On the whole, it is evident that the national banks to-day are as stable as they ever were, and the sporadic failure of a bank here and there through defects peculiar to the failing bank is of small importance, wholly without general significance. "I am advised from Minneapolis that the failure there has occasioned no disturbance beyond the institu tion concerned." Golden City, Mo., Dec. 29.-The Aldrich Banking Company has gone out of business. BUSINESS FAILURES M. Frank & Co., Fort Wayne, Indiana, have assigned. H. A and G. M. Alishouse of Hannibal, Mo, have gone into the hands of a trustee. Albert Cohn, dry goods dealer of Brenham, Tex., hes failed. The Trenton (N. J.) Dry Goods Co. is in the hands of a receiver.

14. January 1, 1897 Little Falls Weekly Transcript Little Falls, MN
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Two Minneapolis Bank Failures. MINNEAPOLIS, Dec. 30.-The Columbia National bank, a small institution of comparatively recent establishment and $200,000 capital, has closed its doors because of heavy withdrawals. The Washington bank, a state institution, has also suspended. It had a capital of $100,000.

15. January 2, 1897 Semi-Weekly Register Brookings, SD
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THE MEASURE READY Bill to Promote Bimetallism Completed by the Senate Committee. Will Be Presented to the Republican Caucus Probably Next Week. Details of the Plan Left: to the Discretion of the President. WASHINGTON, Dec. 31.-The Republican caucus committee appointed to draft a measure providing for an international conference to secure the re-establishment of bimetallism was in session for two hours during the day, and when it adjourned had agreed upon a bill to be presented to the Republican caucus which will be held soon after the assembling of congress next Tuesday. The bill agreed upon is brief and merely confers upon the president the right to appoint delegates "to any conference which may be called which has for its object the re-establishment of bimetallism." It does not distribute the selection of delegates as did the legislation of the Fifty-third congress between the president and the two houses of congress, and, moreover, leaves the number to be selected Entirely to the Discretion of the president. Senator Wolcott gave the committee a full account of his conference with President-elect McKinley, from which he had just returned, reassuring them of Mr. McKinley's hearty interest in the committee's proceedings and his earnest desire to do all in his power to carry into execution the promise of the St. Louis convention to secure international bimetallism if possible. It was announced after the close of the conference that the committee would press for early consideration its bill with the hope of securing all the legislation needed at this session-so that Mr. McKinley could take whatever steps he might deem proper to carry it into effect immediately upon entering upon his duties. Two Minneapolis Bank Failures. MINNEAPOLIS, Dec. 30.-The Columbia National bank, a small institution of comparatively recent establishment and $200,000 capital, has closed its doors because of heavy withdrawals. The Washington bank, a state institution, has also suspended. It had a capital of $100,000.

16. January 2, 1897 Semi-Weekly Register Brookings, SD
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Two Minneapolis Bank Failures. MINNEAPOLIS, Dec. 30.-The Columbia National bank, a small institution of comparatively recent establishment and $200,000 capital, has closed its doors because of heavy withdrawals. The Washington bank, a state institution, has also suspended. It had a capital of $100,000. Failure at Roanoke. WASHINGTON, Dec. 30.-Controller Eckels was wired notice that the Commercial National bank of Roanoke, Va., has closed its doors and suspended payment. Bank Examiner Sands was sent to take charge of the institution.

17. January 5, 1897 Willmar Tribune Willmar, MN
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Two Minneapolis Bank Failures. MINNEAPOLIS, Dec. 30.-The Columbia National bank, a small institution of comparatively recent establishment and $200,000 capital, has closed its doors because of heavy withdrawals. The Washington bank, a state institution, has also suspended. It had a capital of $100,000.

18. January 6, 1897 The Norfolk Virginian Norfolk, VA
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Prob: h y is Scheme. Minneapolis, Minn., Jan. 5.-The report that Senators Davis and Nelson have recommended-Ed Henry Gjertsen, a lawyer of this city, for receiver of the failed Columbia National Bank of Minneapolis has aroused a great commotion among the depositors in that bank. They have united in a telegram to Comptroller Eckels asking him to delay action in the matter until they can be heard. In the meantime charges of crookedness in the management of the bank are in circulation.

19. January 7, 1897 Mineral Point Tribune Mineral Point, WI
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NEWS OF THE WORLD. HOME NEWS. Kingston, N. Y.-The thermometer was 16 below. New York-Isaac Zucker was convicted of arson. Pittsburg-Another armor plate factory will start here. Isaac Ruker was sentenced to thirtysix years in prison in New York for arson. The new cotton mill at Centreville, R. I., was started, giving work to 600 operatives. The commissioners of Lane county, Kan., have declared the county insolvent. Wm. Whaley and his wife were murdered by unknown men at Seviersville, Tenn. Col. Thomas A. Dent, who was connected with the Steelton (Pa.) National bank, died of pneumonia. Archbishop Martinellli, the papal delegate, was given a reception and banquet at Springfield, Mass. Philadelphia-Charles B. Parrish, one of the oldest and wealthiest coal operators in Pennsylvania, is dead. It is said that Judge Simonton will order the sale of the Cape Fear and Yadkin Valley railroad as a whole. Archbishop Corrigan said he had received no announcement that he was to be appointed a cardinal, as reported. The Columbia National Bank and the Washington Bank, a state institution, closed their doors at Minneapolis. New York-Thomas C. Platt in an interview said. "I am satisfied that Mr. Choate will not be the next senator. California orange growers will send a delegation to present the needs of the orange men to the tariff committee. The republican club of New York decided not to indorse the candidacy of Joseph H. Choate for the United States senate. Franklin, Tenn., was nearly wiped out by fire early Sunday morning. The loss runs up into the thousands. The Dime Savings bank of Chicago took advantage of the ninety-day withdrawal notice law and suspended payment. Fire at Nashville, Tenn., early Sunday morning destroyed a number of business block, causing a loss of $500,000. The Commercial National Bank of Roanoke, Virginia, suspended payment. It is said that the depositors will be paid in full. Wm. J. Bryan, in a speeca at Lin coln, Neb., said that business ires have increased since the electice of McKinley. The Bank of Superior, at West Superior, Wis., suspended payment on account of a run with which it was threatened. Tammany will invite all soundmoney as well as silver democrats in New York to participate in the next primary election. The Atlas National bank of Chicago will liquidate and go out of business. The clearing house will pay deposItors in full. New York-Isabelle Evesson, the actress, has brought suit for $8,000 against T. Henry French, the theatrical manager. Edward Avery, who was for several terms chairman of the Massachusetts democratic state committee, died aged 58 years. Frederick, Md.-Charles W. Hoffman, LL. D., Hbrarian of the United States supreme court since 1878, is dead, aged 67. Fire in the building occupied by the Consolidated Stock and Petrofeum exchange, New York, did damage to the extent of $2,000. Charles Boemer was arrested at his wife's grave in Chippewa Falls on complaint of a young girl at Sparta charging him with being the father of her child. Louisville-Governor Bradley declared that it was his purpose to resign the office of governor, saying that it was killing him. At least twenty-one bodies have been taken from the debris of the wrecked train at the Onhaba river bridge, near Blocton, Ala Mount Vernon, Ill-Granville Fyko's sawmill blow up and killed his wife and seriously and perhaps mortally wounded Fyko and one child. The jury at Dayton, Onio, in the case of Albert Franz, tried for the murder of Bessie Little, ga e a verdict of murder in the first degree. James W. Brady, a clerk in the sixth auditor's office at Washington, fell dead in " street car in that city. He lived at Catonsville, Md. A strike instituted at Georgetown Mass., has thrown out of work 150 men and promises to embrace the entire six shoe factories of the town. Bob Breckinridge, a son of the excongressman, has returned home after a three years' tramp all over the world. He worked his own way. Ex-Queen Lil has taken a residence in Boston's fushionable suburb, Brook-

20. January 13, 1897 The Ely Miner Ely, MN
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News in Brief, Among the funds tied up in the Columbia bank of Minneapolis at its failure was about $3,000 belonging to the Ole Bull fund. The annual report of J. B. McArdle, of the United States revenue office at Minneapolis shows a heavy increase in the amount of taxes imposed over the report of last year. There was an increase of $28,976. Gov. Clough has appointed George L. Bunn to succeed the late Judge Kerr on the district bench of Ramsey county. Cruelty to animals comes high in Marshall county. A young man will serve 60 days for saying sic 'em to his pup when a neighbor's pig was handy. An elevator at Wells, belonging to the Ketzeback Milling company, collapsed and let out about 3,000 bushels of wheat. Most of it will be saved. Andrew Johnson, a patient at the St. Peter hospital, committed suicide by hanging himself with a cord taken from the window. Louis Balser was convicted at Mankato of murder in the second degree. He killed his wife November 2. An unknown man about 60 years old was run down and killed by a passenger train at Elk River. The infant son of Mr. and Mrs. Holland, of St. Paul, was smothered to death while sleeping between its parents. William Rankin was arrested in St. Paul for tampering with the mails. He would get other people's letters and then demand ransom money for the same. The annual report of Chief Jackson of St. Paul shows that the losses by fire in that city during the past year amounted to $371,946.17, and that there were 483 alarms of fire.

21. January 14, 1897 Warren Sheaf Warren, MN
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News in Brief. Among the funds tied up in the Columbia bank of Minneapolis at its failure was about $3,000 belonging to the Ole Bull fund. The annual report of J. B. McArdle, of the United States revenue office at Minneapolis shows a heavy increase in the amount of taxes imposed over the report of last year. There was an increase of $28,976. Gov. Clough has appointed George L. Bunn to succeed the late Judge Kerr on the district bench of Ramsey county. Cruelty to animals comes high in Marshall county. A young man will serve 60 days for saying sic 'em to his pup when a neighbor's pig was handy. An elevator at Wells, belonging to the Ketzeback Milling company, collapsed and let out about 3,000 bushels of wheat. Most of it will be saved. Andrew Johnson, a patient at the St. Peter hospital, committed suicide by hanging himself with a cord taken from the window. Louis Balser was convicted at Man. kato of murder in the second degree. He killed his wife November 2. An unknown man about 60 years old was run down and killed by a passenger train at Elk River. The infant son of Mr. and Mrs. Holland, of St. Paul, was smothered to death while sleeping between its parents. William Rankin was arrested in St. Paul for tampering with the mails. He would get other people's letters and then demand ransom money for the same. The annual report of Chief Jackson of St. Paul shows that the losses by fire in that city during the past year amounted to $371,946.17, and that there were 483 alarms of fire.

22. January 26, 1897 Willmar Tribune Willmar, MN
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LOSENNIN NI SMITH The state forestry association & state board and a forest reserve Lamberton's new school buildi erected at a cost of $6,000, has dedicated. St. Paul's public building will completed June 30, 198, Secretary lisle thinks. Mankato will have an electric plant of its own. Bids have been vertised for. Three rinks of the St. Paul Curli club will go to the Northwestern spiel at Portage. George Zilsberger reported to Winona police that $8,205 buried in tellar had been stolen. The Northern Pacifies of St. Duluth proved themselves the pion polo team of the state. Mayor Doran of St. Paul has elected commander of the state tion of ex-Prisoners of War. The sale of a large tract of Chippe pine in Northern Minnesota will ably be set aside on the ground of accuracy. Lyman W. Hall. father of H. P. and for many years a prominent paper man of St. Paul, is dead at 68 JO 0.80 Edward Belanger, the escaped vict from Stillwater, was captured Bald Eagle lake, after being shot Nicolaus Semolten. The comptroller of the currency appointed J. B. Atwater of Minnea lis receiver of the Columbia Natio bank of Minneapolis. At the meeting of the Masonic lodge in St. Paul last week it was cided to bar saloon keepers and tenders from the order. The old cers were re-elected. The president sent to the senate following nominations of Minnes Poterson. V Peter non Fails: John Schmelz, Springfic James F. Maher. Litchfield. Governor Clough has appointed Weaver of Mankato a member of state capitol commission in place Hon. Daniel Shell, who resigned order to hold his place in the senate Comptroller Eckels has given abstract of the reports of the condit us[uuq 11/10/19 T9 one JO LT Dec. tio Minnesota, outside of Minneapolis St. Paul, The average reservo 31.20 per cent. The school building at Lake valued at about $10,000 has been stroyed by fire. A large supply hand grenades were in the building had been stored safely out of the in the basement. Axel A. Lindross, aged 19, and Mary Pikkarinen are under Wadena charged with the murde the woman's husband Friday The young man admits the crime alleges that the woman asked ***** ΠΌΠΎΠΏ V known as the Winoua Business association, is to be formed, its to be to improve the local markets, nish protection to the credit and bring about the securing of a ket place. Governor Tanner has honored go out JO understand sota for the extradition of Charles Haney of Minneapolis, under Normal, Ills. Haney is charged attempting to bribe certain aldermer Minneapolis while acting as city of that city. Minnesota Stock Breeders', Breeders' and Sheep Breeders' tion met in St. Paul last week. Curryer of Mankato was elected

23. May 29, 1897 The Saint Paul Globe Saint Paul, MN
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MINNEAPOLIS. OFFICE 29 SOUTH FOURTH STREET, MINNEAPOLIS GLOBULES. A dividend of 40 per cent, amounting to $500, has been paid to City Treasurer Hulbert by Receiver Atwater of the Columbia National bank. From 1:30 to 2:30 p. m. today while the Memorial day parade is forming, a concert of patriotic airs will be played on the court house chime by E. S. Rhind. This evening's performance and a matinee will terminate the successful week's run of "East Lynne" at the Metropolitan. The piece has drawn the largest audiences of anything Eugenie Blair and company have presented. The forthcoming engagement of the English Mystic, Alexander J. McIvor-Tyndall, who will appear at the Bijou tomorrow, has made thought reading, hypnotism, clairvoyance and kindred subjects topics of conversation. Fred Lee was arraigned in the police court yesterday morning charged with breaking into Charles N. Charbourne's residence. He asked for an examination and it was set for June 1, bail being fixed at $300. The Camera club will have its annual outing today, leaving for the lake via the Minneapolis & St. Louis at 9:15 a. m., and spending the day afloat on a chartered launch. A prize contest for photographs taken on the trip will lend interest to the occasion. The case of Alice N. Clayton, of Chicago, against George C. Ripley was dismissed by Judge Lochren yesterday morning. The plaintiff claimed that Attorney Ripley and his law partner had defrauded her out of certain building lots, but the court decided that there was no ground for action. Judge Jamison has disallowed the claim by W. D. Hale, as receiver of the American Savings and Loan association for $21,290.94 alleged to be due against the Irish-American bank. It is alleged that the savings association had this amount on deposit in the bank, but the court finds the claim invalid. Ida Fuller and her company of clever entertainers continue to draw large audiences at the Taken as a whole, it is by far the Bijo mos satisfactory entertainment of the summer season. Miss Fuller's dances are beautifully artistic and abound in the most novel and original light effects. The entire assisting contingent is competent. A celebration at Lake Harriet is announced for this evening. This will be the first entertainment of the season at the pavilion, and, If the weather is favorable, a large crowd will be attracted. The programme will consist of music to be rendered by Watson's First Regiment band, and a display of fireworks. The announcement for the fourth week of the summer season at the Metropolitan is a production of "Jane Eyre," with Eugenie Blair as the heroine and William Bramwell as Lord Rochester. The play has not been seen here for years and considering that it is regarded as one of the best of the old-time dramas it is expected to prove a strong drawing card.

24. June 2, 1897 The Saint Paul Globe Saint Paul, MN
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closed, and that it would be as well to draw the check, and have the Columbia bank pay it directly. The teller agreed to this, and paid the money. After both banks failed, the city of Minneapolis did not want to take the payment as a charge against the city deposit in the Scandia bank, and the Scandia receiver did not want to have the payment a credit for the Columbia against its deposit. Since Mr. Kittleson had telephoned from across the street at a drug store, and not from the bank, where a state examiner then was, the receiver insisted that the payment was not authorized by the Scandia officials. It was all referred to the court, however, and the decision was that the payment was a valid one. This is the true explanation of that $10,000 deal which has puzzled the creditors, and which at one time, was to be brought before the grand jury.

25. August 5, 1898 The Saint Paul Globe Saint Paul, MN
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# THERE WAS CONSIDERATION. Smith Note Was Not Made Without a Tangible Reward. In the supreme court yesterday it was he'd that the Columbia National bank was entit'ed to recover for the note of Edward Smith. The syllabus is as follows: John B. Atwater, as receiver of the Columbia National Bank of Minneapolis, respondent, vs. Edward Smith, appellant. Syllabus-Held. on the conceded facts in an action brought by the receiver of an insolvent national bank that there was no want of consideration for the execution and delivery of the promissory note on which the action was based. Order affirmed. -Collins, J.