Security Bank (Duluth, MN)

Episode Information

Episode UID
6528648291160
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
652864829 hash
Start Date
August 11, 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
a082146590e42c11

Response Measures

None

Description

Sources conflict on whether labeled a state or national bank; examiner took possession and a receiver was later appointed.

Events (3)
1. August 11, 1896 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy and unlooked-for withdrawals driven by inability to make speedy collections (liquidity stress)
Newspaper Excerpt
Heavy and unlooked-for withdrawals of deposits, and the impossibility of making speedy collections have compelled us to close our doors.
Source
newspapers
2. August 11, 1896 Suspension
Cause
Government Action
Cause Details
State bank examiner (M. D. Kenyon) took possession after suspension; notices posted on door
Newspaper Excerpt
In my official capacity as Superintendent of Banks of the State of Minnesota, I have taken possession of the books, records and assets of every description of this bank as provided by law.
Source
newspapers
3. August 14, 1896 Receivership
Newspaper Excerpt
M. D. Kenyon applied ... for the appointment of a receiver for the Security bank, and ... A. R. MacFarlane was named.
Source
newspapers

Newspaper Articles (19)
1. August 11, 1896 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, August 11, 1896

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GOLDBUG OBJECT LESSONS. Beauties of the Beneficent Gold Standard Policy Exemplified--Banks 60 to the wall. New York, Aug. 11. - The following notice, signed by F. D. Kilburn, superintendent of banking, was ported on the Murray Hill bank to-day: "This bank is closed pending an examination of the condition of its affairs." The bank is one of the oldest state institutions of this city. The deposits amount to about $1,250,000. It is believed that they will be paid in full. One reason advanced for the suspension is that the bank had to take a considerable amount of real estate for loans. BANK CLOSED IN DULUTH. Duluth, Minn.-The Security bank, capital $100,00, one of the leading banks of the city, closed this morning. Heavy withdrawals and the impossibility of making speedy collections is given as the cause. M. D. Kenyon, state bank examiner, is in charge. The deposits are in the neighborhood of $300,000. BANK FAILURE IN CHICAGO. Chicago.-The private bank of L.D. Taylor & Co., successors to North & Taylor, closed to-day. By an order of the court, the Equitable Trust company was made receiver. The assets are $150,000; liabilities $100,000.

2. August 11, 1896 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, August 11, 1896

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Bank Closed. DULUTH, Minn., Aug. 11.-The Security Bank of Duluth, one of the largest State banks in the State, closed its doors this morning. Heavy and unlooked for withdrawals of deposits and the impossibility of making speedy collections were the causes. The capital stock of the bank was $100,000, and its surplns $40,000. Its last statement showed total resources of $535,835.

3. August 12, 1896 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, August 12, 1896

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BRIEF TELEGRAMS. At the meeting of the Democratic national committee in New York yesterday it was resolved to appoint an executive and finance committee of 25 each, and a campaign committee of nine. The campaign committee is empowered to select permanent headquarters. West Virginia was represented by proxy in the person of O. Moore, The International chess tournament at Nuremberg is over. Prizes have been awarded as follows: First prize. Lasker; second prize. Maroczy: third and fourth prizes divided by Pilisbury and Tarrasch; fifth prize, Janowski: sixth prize, Stelnitz: seventh prize. divided by Schlecter and Walbrodt. At least three persons and possibly others were burned to death in a fire that destroyed n six-story brick buildIng at No. 465 Greenwich street, New York. yestérday afternoon. Several persons were injured by the smoke and heat and by jumping, and two of them are expected to die. According to commercial agent Moore, at Welmar. Germany, the consumption of rye bread in that country has materially decreased since 1S79, and that Imports of American wheat and flour are steadily on the increase. The Security bank of Duluth, Minn. closed its doors yesterday. Capital $100,000. Heavy withdrawals of depositore was the cause of suspension. John Thompson and Jay Leonard were killed by lightning nt Sandusky yesterday. They had steel augers in their hands at the time. Harry K. Brown. clerk of the Bullion and Exchange bank, Carson, Nevada, is missing and n defaulter to the amount of $75,000. George and Isane Ferguson, ten and eight years. drowned at Middletown. Their father, unable to swim. saw both drown. The Murray HIII bank. of New York, suspended yesterday. $1,250,000 are due its depositors. It is said all will be paid in full. The Kansas Republicans yesterday re-nominated Governor E. N. Morrill and endorsed the St. Louis platform. The private bank of L. D. Taylor & Co., Chicago, closed yesterday. Assets $150,000; liabilities $100,000. The Pittsburgh plate glass combine has suspended work at their factories.

4. August 12, 1896 The Norfolk Virginian Norfolk, VA
Article from The Norfolk Virginian, August 12, 1896

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A New York Bank Closes I14 Doors. New York, Aug. 11.-The Murray Hill bank. doing business at 760 Third avenue, one of the oldest State banks in the city. has closed its doors. Notices signed by the superintendent of banking. which are posted on the door, state that the bank closed pending an examination of its affairs. The bank has deposits of about $1,250,000. which it Is beHeved will be paid in full. It is understood that the bank was compelled to suspend because it had taken a good deal of real estate for loans. Duluth. Minn., Aug. 11.-The Security Bank of Duluth, one of the largest national banks in the State. closed its doors this morning. Two notices were posted on the door. one reading: "Heavy and unlooked-for withdrawals of deposits, and the impossibility of making speedy collections, have compeled us to close our doors. We think depositors need have no fear regarding the ultimate safety of their funds. (Signed) "W. P. LARDNER, "Cashier." The other notice reads. "In my official capacity as Superintendent of Banks of the State of Minnesota, I have taken possession of the books. records and assets of every description of this bank as provided by law. (Signed) "M. D. KENYON, "Examiner." The capital stock of the bank was $100,000 and its surplus $40,000. Its last statement showed total resources of $35.835. There was $6.740 of undivided profits on hand. The total deposits July 22d. the date of the bank's last statement, were $329,324. None of the officers of the bank will talk about the bank's affairs further than to say that they expect to pay all deposits in full.

5. August 12, 1896 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 12, 1896

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BANK FAILURE AT DULUTH. Considerable Excitement, and Further Failures Feared. DULUTH, MINN., August 11.-The Security Bank of Duluth, one of the largest State banks in Minnesota, closed its doors this morning. A notice posted on the door signed by the cashier stated that heavy and unlooked-for withdrawals of deposits, and the impossibility of making speedy collections, compelled the bank to close its doors, and also that depositors need have no fear regarding the ultimate safety of their funds. Another notice, signed by the bank examiner, said that he had taken possession of the books. The failure caused considerable excitement, and further failures are feared. The bank was organized in 1889, with Joseph Sellwood as president, and F. W. Paine, cashier. The capital stock is $100,000, the surplus is $40,000, and the average deposits are $425,000.

6. August 12, 1896 Birmingham State Herald Birmingham, AL
Article from Birmingham State Herald, August 12, 1896

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Another One Fails. Duluth, Minn., Aug. 11.-The Security bank of Duluth, one of the largest national banks in the state, closed doors this morning. Two notices were posted on the doors, one reading: "Heavy and unlooked for withdrawals of deposits and impossibility to make speedy collections have compelled us to close our doors. We think our depositors need have no fear regarding ultimate safety of their W. P. LARDNER, funds. "Cashier." The other notice reads: "In my official capacity of superintendent of banks of the state of Minnesota, I have taken possession of the books, records and assets of every description of this bank as provided by law. "M. D. KENYON, Examiner." The capital stock of the bank was $100,000 and its surplus $40,000. Its last statement showed resources of $535,835. There was $6740 of undivided profits on hand. The total deposits on July 22, the date of the bank's last statement, were $329,324. None of the officers of the bank will talk about the bank's affairs further than to say that they expect to pay all deposits in full.

7. August 12, 1896 The Morning News Savannah, GA
Article from The Morning News, August 12, 1896

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A BIG BANK BREAKS. Deposits Withdrawn Faster Than Collections Could Be Made. Duluth, Minn., Aug. 11.-The Security Bank of Duluth, one of the largest national banks in the state, closed its doors this morning. Two notices were posted on the door, one reading: "Heavy and unlooked for withdrawals of deposits, and the impossibility of making speedy collections have compelled us to close our doors. We think that depositors need have no fear regarding the ultimate safety of their funds. Signed, W. P. Lardner, cashier." The other notice reads: "In my official capacity as superintendent of banks of the state of Minnesota, I have taken possession of the books, records and assets of every description of this bank as provided by law. Signed, M. I, Kendren, examiner." The capital stock of the bank was $100,000 and its surplus $40,000. Its last statement showed resources of $535,835. There was $6,740 of undivided profits on hand. Total deposits July 22, the date of the banks last statement, were $329,324. None of the officers of the bank will talk about the bank's affairs, further than to say that they expect to pay all depositors in full. Duluth, Minn., Aug. 11.-The Security Bank of Duluth, one of the largest state banks in the state, closed its doors this morning. A notice posted on the door signed by the cashier, stated that heavy and unlooked for withdrawals of deposits and the impossibility of making speedy collections compelled the bank to close the doors; also that depositors need have no fear regarding the ultimate safety of their funds. Another notice signed by the bank examiner said that he had taken possession of the books, funds and assets of the bank of every description as provided by law. The failure has caused considerable excitement and further failures are feared. The bank was organized in 1889, with Joseph Sellwood, president and F. W. Paine, cashier. The average deposits were $425,000.

8. August 12, 1896 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, August 12, 1896

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BANKS CLOSED. DULUTH, Minn., Aug. 11.-The Security bank, of Duluth, one of the largest state banks in the state, closed its doors this morning. This notice was posited: "Heavy and unlooked for withdrawals of deposits and the impossibility of making speedy collections compelled us to close our doors." The last statement of the bank deposits on July 22 were $329,324. Officials say they expect to pay the debts in full. NEW YORK, Aug. 11.-The Murray Hill bank, doing business on Third avenue, one of the oldest state banks in the city, has closed its doors. The notice states that the bank is closed pending an examination of its affairs. The bank has deposits of $1,250,000, which it is believed will be paid in full. It is understood the bank was compelled to suspend because it had to take a good deal of real estate for loans.

9. August 12, 1896 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, August 12, 1896

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SEVERAL BANK FAILURES Peculiar Condition of the Money Market Causes Suspensions. Depositors Will Be Paid in Full When Securities Can Be Realized On. NEW YORK, N. Y., Aug. 11.-The Murray Hill Bank, doing business on Third avenue, one of the oldest State banks in the city, has closed its doors. A notice states that the bank was closed pending an examination of its affairs. The bank has deposits of $1,250,000, which it is believed will be paid in full. It is understood that the bank WAS compelled to suspend because it had to take a good deal of real estate for loans. BOSTON, Mass., Aug. 11.-W. H. Tre worky, wholesale dealer, has made an assignment for the benefit of his creditors. No statement of assets and liabilities has yet been prepared, but it is understood that the liabilities are in the neighborhood of $200,000. DULUTH, MINN., Aug. 11.-The Security Bank of Duluth, one of the largest banks in the State, closed its doors this morning. A notice was posted on the door, saying: "Heavy and unlooked for withdrawais of deposits, and the impossibility of making speedy collections compelled us to close our doors." The last statement of the bank deposits on July 22 was $329,324. The officials say that they expect to pay depositors in full. The failure caused considerable excitement, and other failures are feared. CHICAGO, ILL., Aug. 11.-North & Taylor, private bankers, who did business at 959 West Madison street, suspended today. The banks depositors are working men and the total amount of their savings is placed at $100,000. The firm had a capital of $50,000. Charles A. North and Luis D. Taylor, the partners, have been in business for several years. They were compelled to discontinue because of the extraordinary condition of the money market and inability to realize on securities. Depositors are promised full payment. The Equitable Trust Company was appointed receiver.

10. August 12, 1896 New-York Tribune New York, NY
Article from New-York Tribune, August 12, 1896

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WESTERN BANKS GO UNDER. Duluth, Minn., Aug. 11.-The Security Bank of Duluth, one of the largest State banks in the State, closed its doors this morning. Two notices were posted on the door, one reading: Heavy and unlooked-for withdrawals of deposits and the impossibility of making speedy collections have compelled us to close our doors. We think depositors need have no fear regarding the ultimate safety of their funds. W. P. LARDNOR, Cashier. The other notice reads: In my official capacity as Superintendent of Banks of the State of Minnesota I have taken possession of the books, records and assets of every description of this bank, as provided by law. M. D. KENYON, Examiner. The capital stock of the bank was $100,000, and its surplus $40,000. Its last statement showed total resources of $535,835. There was $6,740 of undivided profits on hand. The total deposits on July 22, the date of the bank's last statement, were $329,324. None of the officers of the bank will talk about the bank's affairs further than to say that they expect to pay all deposits in full. The failure has caused considerable excitement, and further failures are feared. The bank was organized in 1889, with Joseph Sellwood, president, and F. W. Paine, cashier. The capital stock is $100,000; surplus, $40,000, and average deposits, $425,000. Chicago, Aug. 11.-The private bank of North & Taylor, No. 959 West Madison-st., was closed this morning. No statement has as yet been made.

11. August 12, 1896 Evening Star Washington, DC
Article from Evening Star, August 12, 1896

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CAUSED BY WITHDRAWALS. The Security Bank of Duluth Closes Its Doors. The Security Bank of Duluth, capital $100,000, one of the leading banks of the city, closed its doors yesterday. Heavy withdrawals of deposits and impossibility of making speedy collections are given as the cause. M. D. Kenyon, state examiner, is in charge. The bank's deposits are in the neighborhood of $300,000. The private bank of L. D. Taylor & Co., successors to North & Taylor, 959 West Madison street, Chicago, was closed yesterday. By order of the court the Equitable Trust Company was made receiver. The assets are $150,000; liabilities about $100,000.

12. August 12, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 12, 1896

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Bank Failures. Chicago, Aug. 11.-The private bank of L. D. Taylor & Co., successors to North & Taylor, was closed today by order of court. The Equitable Trust Company was made receiver. Assets, $150,000; liabilities, about $100,000. Duluth, Minn., Aug. 11.-The Security bank, capital $100,000, one of the leading banks of the city, was closed this morning. Heavy withdrawals of deposits and impossibility of making speedy collections are given as the cause. M. D. Kenyon, state examiner, is in charge. The deposits are in the neighborhood of $300,000. New York, Aug. 11.-The following notice, signed by F. D. Kilburn, superintendent of banking. was posted in the Murray Hill bank today: "This bank closed pending examination of the condition of its affairs." The bank is one of the oldest state institutions in the city. The deposits amount to about $1,250,000. It is believed they will be paid in full. One reason advanced for the suspension is that the bank had taken a considerable amount of real estate for loans.

13. August 13, 1896 The Princeton Union Princeton, MN
Article from The Princeton Union, August 13, 1896

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DULUTH'S Security bank closed Tuesday morning. The cause was slow collections which showed a weakness in its published statement and caused a run. It is said the depositors will receive 100 cents on the dollar.

14. August 14, 1896 The Wilson Times Wilson, NC
Article from The Wilson Times, August 14, 1896

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Closed Its Doors. DULUTH, MINN.. August 11.-The Security Bank. of Duluth, one of the largest State Banks in the State, closed its doors this morning. A notice posted on the door, signed by the cashier, stated that heavy and unlooked for withdrawals of deposits and the small collections, caused the bank to close its doors. Another notice, signed by the Bank Examiner, stated that he had taken possession of its books The failure caused considerable excitement, and further failures are feared The bank was organized in 1889, wi U hos. Sellwood, president, and F. ayne, cashier. The capital 100,000; surplus, $40,000, an eposits, $435,000.

15. August 14, 1896 Twice-A-Week Plain Dealer Cresco, IA
Article from Twice-A-Week Plain Dealer, August 14, 1896

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BANKS CLOSE. Various Causes for the Suspension of Financial Institutions. THREE OF THEM CLOSE THEIR DOORS. They Are the Murray Hill Bank of New York, North & Taylor of Chicago, and Security of Duluth-All Will Pay in Full. New York, Aug. 12..-The Murray Hill bank, doing business at 760 Third avenue, one of the oldest state banks in the city, has closed its doors. A notice, signed by the state superintendent of banking, which was posted on the door, states that the bank is closed, pending an examination of its affairs. It is stated that the Murray Hill bank was closed by order of Superintendent of Banks Kilburn because it was behind in its legal reserve of money and could not carry on business. The directors say the bank will resume in a few daysand pay 100 cents on the dollar. The total assets are expected to be $1,000,000, about $500,000 greater than the liabilities. Many of the depositors are willing to sell their deposits for onehalf their value. Chicago Bank Goes Under. Chicago, Aug. 12.-North & Taylor, private bankers, who did business at 959 West Madison street, suspended Tuesday. The bank depositors are working men and the total amount of their savings is placed at $100,000. The firm had a capital of $50,000. Charles A. North and Louis D. Taylor, the partners, have been in business for several years. They were compelled to discontinue because of the extraordinary condition of the money market and inability to realize on securities. Depositors are promised full payment. The Equitable Trust company was appointed receiver. Security Bank of Duluth Closed. Duluth, Minn., Aug. 12.-The Security bank, of Dulnth, one of the largest state banks in the state, closed its doors Tuesday morning. The capital stock of the bank was $100,000 and its surplus $40,000. Its last statement showed total resources of $535,835. There was $6,740 of undivided profits on hand. The total deposits on July 22, the date of the bank's last statement, were $329,324. The officers of the bank say that they expect to pay all deposits in full. Millers Assign. Hamilton, O., Aug. 12.-The Carr & Browne company, of this city, which runs a large flouring mill, assigned Tuesday morning to William E. ,Browne, president of the Second national bank. The assignee gave bond in the sum of $30,000. Assets, $26,000; liabilities not given. Liabilities of $200,000. Boston, Aug. 12.-The assignment is announced of W. H. Treworgy, wholesale lumber dealer. It is understood that the liabilities are in the vicinity of $200,000.

16. August 15, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, August 15, 1896

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Receiver for the Security. DULUTH, Minn., Aug. 14.-M. D. Kenyon applied yesterday to the district court for the appointment of a receiver for the Security bank, and on motion of Attorney General Childs, A. R. MacFarlane was named. Mr. MacFarlane was for many years vice president of the American Exchange bank. He gave bonds for the amount of $375,000. The assets of the bank amount to $362,261.10, and the liabilities $374,416.71. The movement to reopen the bank is still under way, and with good prospects of success.

17. August 19, 1896 Mower County Transcript Austin, Lansing, MN
Article from Mower County Transcript, August 19, 1896

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NEWS IN MINNESOTA Melrose has granted a 40-year electric lighting franchise. The South St. Paul belt line railroad will begin to run trains before Sept. 1. Democrats of the Third congressional district have nominated H. J. Peck of Shakopee. Congressman Kiefer of St. Paul, has withdrawn from the contest for a renomination. The remains of Judge A. J. Edgerton were laid at rest with Masonic honors at Mantorville. The 7-year-old daughter of a farmer named Rosseland, of Chester, was killed in a hailstorm. Governor Clough has issued a proclamation declaring Labor Day, Sept. 7, a general holiday. The body of Adolph Franzen, who was drowned at Winona, has been found at Davenport, Ia. A movement is on foot to reorganize the Security bank of Duluth and place it upon its feet again. The Berlin Summit creamery, near Albert Lea, was destroyed by fire. Loss $8,000; insurance $1,700. An application has been filed to change the name of the town of Thief River Falls to Beau Falls. Stratton Bros.' drug store at Belle Plaine was burglarized of jewelry and money amounting to $125. Bertha Tuchenhagen of Waverly was accidentally shot by Joseph Gibbin. She is not expected to live. Horejs Bros., bakers, at St. Paul, lost 34 horses, 12 wagons and 4 carriages by the burning of their stables. Harvest hands returning from the West report a demoralized state of affairs in the wheat belt of Minnesota, and North and South Dakota. Italian laborers on the Great Northern returning from work on hand cars collided and two men were run over and seriously injured at Melrose. James Prince, John Langren and Frank Treat of New Brighton were convicted by a jury of illegal shooting of prairie chickens and were assessed $28 each. Judge Severance denied the injunction filed in May last by L. G. M. Fletcher against the city of Mankato to restrain it from purchasing an electric light plant. President Northrup of the state university prophesies that the coming year will see an enrollment of 2,600 students in that institution. The Red River valley drainage commission has let three more contracts for ditches to be constructed at Spring Creek, in Norman county, and at Manston in Wilkin county. Two suits of clothes were found on

18. August 19, 1896 The Ely Miner Ely, MN
Article from The Ely Miner, August 19, 1896

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THE NEWS. Compiled From Late Dispatches. DOMESTIC. Linn O'Neill, of Toledo, O., aged five years and blind, one of the greatest musical prodigies the world ever produced, died from the effects of the heat. During a storm at Cleveland many small boats on the lake were wrecked but no lives were lost. Bob Pierson and Morris Jacobs, pugilists, who attempted to fight near Cincinnati, were arrested and fined $100 each and sent to jail for 50 days. Harry K. Brown, exchange clerk of the Bullion and Exchange bank of Carson, Nev., is said to be a defaulter to the extent of $75,000. The Security bank of Duluth, Minn., one of the leading banks of the city, closed its doors with deposits of $800,000. A fire on the water front of Norfolk, Va., destroyed property valued at $100,000. Five lives were lost in a fire which occurred in A. K. Warren & Co.'s electrical supply manufactory in New York, the property loss being $100,000. The Murray Hill bank in New York suspended payments with liabilities of $500,000. S. K. Martin, president of the S. K. Martin Lumber company of Chicago, the largest lumber firm in the world, died at Alma, Mich., aged 59 years. Joseph Kohler and his wife were killed by the cars at a crossing near Canton, O. Fire in the penitentiary at Anamosa, Ia., destroyed the large library-room of 8,000 volumes, the tailor shop, the dining-room and chapel. The hot wave was broken in the northwest on the 11th, but continued in the east and south. On the date named 146 persons died from the heat in New York, 22 in Brooklyn, 18 in Philadelphia, 12 in St. Louis, 16 in Terre Haute, Ind., 8 in Chicago and several in other towns, the total reported being 265. The reports as to the condition of the crops throughout the country are favorable, corn especially having been greatly benefitted by the hot weather. During a thunder-shower at Rogers, Ark., B. J. Bryant and his five-year-old daughter were struck by lightning and killed. W. H. Treworgy, wholesale lumber dealer in Boston, failed for $200,000. North & Taylor, private bankers in Chicago, suspended payments, with liabilities of $100,000. Lena Rivitt, aged 16, and Cora Goanette, aged ten, were drowned while bathing in Pinedale pond near Athol, Mass. A ten-year-old boy named Mills killed the two little children of Frank Powers at Hollywood, N. C., because they would not stop crying. By a flood in the Tiptown river in the vicinity of Bourbon, Ind., houses, barns and crops were destroyed and 25 persons lost their lives. E. S. Sanborn & Co., of Lynn, Mass., manufacturers of ladies' shoes, failed for $100,000. A strike has been ordered in all mines in Ohio where the men are working for less than the rate established at the last scale meeting, and all mines operated under the contract lease system. Josiah E. Kelley, for 27 years assistant cashier of the First national bank at South Bend, Ind.. killed himself because of a shortage of $24.000 in his accounts. The Manhansett hotel at Shelter Island, one of the largest and most fashionable of the summer hotels on the Long Island coast, was burned, the loss being $100,000. The Michigan Buggy company's factory at Kalamazoo was burned, the loss being $100,000. Miss Celia Rose, 24 years old, is in jail at Mansfield, O., charged with killing her father, mother and brother with poison. In a wreck on the Lake Shore road near Otis, Ind., Engineer James Griffin and Fireman Michael Roach, both of Elkhart, Ind., were killed. The Knights and Ladies of Industry, a benevolent order with headquarters in St. Louis, went out of existence. S. F. Myers & Co., manufacturing jewelers in New York city, failed for $500,000. During a storm at Pittsburgh, Pa., and vicinity six lives were sacrificed and thousands of dollars' worth of property laid waste.

19. August 20, 1896 The Pioneer Press Miller, SD
Article from The Pioneer Press, August 20, 1896

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A Receiver Named. Duluth, Aug. 15 -M. D. Kenyon has applied to the district court for the appointment of a receiver for the Security bank, and on motion of Attorney General Childs, A. R. Macfarlane was named. Mr. Macfarlane was for many years vice president of the American Exchange bank. He gave bonds to the amount of $375,000. The assets of the bank amount to $362,261.10; and the liabilities are $374,416.71. The local liabilities are $279,000 and the rediscount $95,156.67. The movement to reopen the bank is still under way and with good prospect of success.