Click image to open full size in new tab
A Moorhead Institution Goes to the Wall-Said to Be Temporary. MOORHEAD, Minn., Feb. 9.-The Merchants' bank of this city has closed its doors. There is $175,000 on deposit, besides a large amount of county funds, in the bank. A receiver will probably be appointed.
Click image to open full size in new tab
The Merchants' of Moorhead May Pay Sixty Cents. Special to the Globe. MOORHEAD, Minn., Feb. 8. - The Merchants' bank of this city closed its doors today: liabilities, including deposits and obligations to other banks, $175,000; assets, $200,000. A large part ot the assets is thought to be worthless paper. A petition for a receiver has been made. It is thought that after a liquidation has been made the bank will be able to pay 60 cents on the dollar. At present looks as though the bank could not be reopened. Much sympathy is felt for T. C. Kurtz. one of the partners. It was a private institution.
Click image to open full size in new tab
That Is What Depositors of the Moorhead Bank Will Realize. MOORHEAD, Feb. 9.-As stated in yesterday's GLOBE. the Merchants bank of Moorhead closed its doors this morning. The event was a surprise to many, although there had hitherto been rumors of trouble afloat for some time. However, the confidence reposed in T. C. Kurtz, one of the partners, was SO great that few believed that a close would result. So far as can be ascertained the liabilities of the bank, including deposits and obligations to other banks, amounts to about $175,000, and the assets are said to be upwards of $200,000. A large portion of the latter, however, is said to be individual paper which is believed to be uncollectable. It is believed by those who are in a position to know something of the condition of the affairs of the bank that on a liquidation depositors will be paid 60 cents, or more. on the dollar. The bank is a private one, the partners being H. A. Burns and T. C. Kurtz. A meeting of a large number of the creditors was held yesterday afternoon, when the matter was talked over. Such is the confidence reposed in Mr. Kurtz that the meeting decided to petition Judge Mills to appoint him receiver of the bank, in connection with County Auditor Van Blessingen. If not deemed wise to appoint Mr. Kurtz, then the court is requested to name Andrew Hobbs or George E. Perly.
Click image to open full size in new tab
MOORHEAD, Minn., Special Telegram, Feb. 9.-The Merchants Bank of Moorhead closed to-day. It is a private bank, H. A. Bruns and T. C. Kurtz forming the partnership. It 18 believed that on liquidation depositors will receive .rom 60 10 70 per cent or their deposits. Public sympathy is largely with Mr. Kurtz. A petition has been signed by the creditors and sent to Judge Mi. Is requesting the appointment of receivers, uding thenamed C. Kurtz. The deposits aggregate $175,000.
Click image to open full size in new tab
President Bruns Was Overdrawn MOORHEAD, Minn, Feb. 13.-The developments in the Merchants bank failure show that President Bruns owes the bank $175,000, and.that he actually overdrew his account $34,000. Cashier Kurtz also owes $14,000. A receiver has been appointed.
Click image to open full size in new tab
THE Merchants bank of Moorhead has failed for $175,000. H. A. Bruns is the president and he says the suspension is only temporary.
Click image to open full size in new tab
ply for $150,000 apiece. The other claims vary from $100,000 to $30,000. Bob Ford, the slayer of the notorious Jesse James, was shot to death in a saloon at Creede, Colo., on Wednesday. The state insane asylum at Jackson, Miss., was burned Tuesday morning, but only one of the inmates perished. Mrs. Mary Clements, who died in New York city last Saturday at the age of 103, had 80 living descendants. She was a native of Ireland. A regularly established bank has began business at the Boston English High school. Its aim is to give the students a practical training in business methods. George Bennett, a farmer 70 years old and reputed to be worth $150,000, disappeared from his home at Canton, Pa., and no trace of him can be found. Henry Miller, a farmer, his wife and mother, were found dead in their house at Hope, Kan., a few days ago. The rooms were full of gas from a coal stove. Sarah Althea Terry, who gained such notoriety by her divorce suit against exSenator Sharon, and her subsequent marriage with Judge Terry, has become insane over spiritualism. The great 130-yards foot race for £100, was run at Manchester, Eng., on Monday, and was won by Henry Budd of Meriden, Conn. He was a favorite in the betting and his backers won $15,000. H. A. Bruns, president of the defunct Merchants' bank at Morehead, Minn., has been arrested on the charge of defrauding the depositors out of $80,000. He lost the money by speculating in the Chicago wheat markets. Six members of the family of James Broad, a slate manufacturer, have died within ten days of malignant scarlet fever at Belvidere, N. J. The only member of the family left is the wife and mother, who is very ill. A large carpet mill belonging to John and James Dobson at the falls of Schuylkill, a suburb of Philadelphia, was burned Monday. Loss $150,000. The 250 hands at work in the mill escaped, only a few being slightly damaged.
Click image to open full size in new tab
The Moorhead Bank Case, Special to the Globe. MOORHEAD, Feb. 29.-A meeting of the creditors of the Merchants' bank of this city was held today. Receiver Von Vlessinger submitted a report showing face assets of $310,790.91 and liabilities of $208,073.54. The individual resources of T. C. Kurtz, exclusive of his interest in the bank, are $73,907.08.
Click image to open full size in new tab
The Moorhead Bank Case, Special to the Globe. MOORHEAD, Feb. 29.-A meeting of the creditors of the Merchants' bank of this city was held today. Receiver Von Vlessinger submitted a report showing face assets of $310,790.91 and liabilities of $208,073.54. The individual resources of T. C. Kurtz, exclusive of his interest in the bank, are $73,907.08.
Click image to open full size in new tab
MOORHEAD Minn. Special Telegram, March I.-At a meeting of the creditors of the Merchants' bank to-day Receiver Von Vlissenger read a statement: Assets (face), $310,790.91; liabilities, $208,073.54. T.C. Kurtz; individual resources, exclusive of interest in bank, $73,907.08.
Click image to open full size in new tab
MOORHEAD, July 14.-The county commissioners have instructed their committee to make a demand on the sureties of the late Merchants' bank for a settlement. At the time of the bank failure there were about $20,500 of county funds on deposit. Of this the receiver will pay a certain per cent and the bondsmen will have to stand the balance.
Click image to open full size in new tab
Failures, Assignments, Suspensions, Etc. Among Merhants, Bankers and Others, FEBRUARY 2. The Comperelal and Savings bank of Kearney Neb., suspended. 8. The Merci nts' bank of Moorehead, Minn closed doors APRIL 25. John H. ingsbury, banker. assigned is Brockpet. N.Y. The March Clothing company assigned is St. Loui) liabilities, $175,000. MAY. St. Coster &Martin, crain speculators, falled in Chiefo for $500,000. JUNE. 8. The Neworiental bank of London fallee for el. John Mann.jeweler,assigned in New York city: ilities, $167,000. JULY 11. McConna & Shaws, leather merchants failed Boston for $200,000. 19. Robert incan, leather manufacturer M Wohnt Mass., assigned with $100,000 liabilities ADGRST. 16. The Mari Banking company assigned in Philadephia. 21. Coburn Leavitt, operating hosiery milla at Labila, N. H., assigned; liabilities, $30.00 SEPTEMBER 9. The Labon Home and Land Trust Hulld. ing society failed for $2,000,000. 14. Spiegest Co., furniture dealers, failed in Chicago liabilities over $150,000. OCTOBER 1. Scholt® private bank failed In Berlin for 30,00 marks. 8. A. B. Men & Co., straw goods manufac. tures 11 New York city, assigned: liabilitless 20. Burkli & Co., wholesale grocers in New Yorking assigned; liabilities, $700,000. NOVEMBER 18. Moma & Co., importers, assigned in New Yerminy: liabilities, $150,000. DECEMBER. 8. Caroband Bartels, brokers, assigned in liabilities, 7,500,000 marks.
Click image to open full size in new tab
FEBRUARY. 2. At Kearney, Neb., the Commercial and Savings bank suspended. 8. At Moorehead, Minn., the Merchants' bank suspended. APRIL. 25. In Brockport, N. Y., Banker J. H. Kingsbury assigned. In St. Louis the Martin Clothing company assigned with $175,000 liabilities. MAY. 31. In Chicago grain speculators Coster & Martin failed for $500,000. JUNE. 21. In New York city Jeweler John Mason assigned with debts of $167,000. JULY. 11. In Beston McConnell & Shaws failed for $300,000. 19. At Woburn, Mass., Robert Duncan, leather maker, assigned with debts of $100,000. AUGUST. 16. In Philadelphia the Mutual Banking association assigned. 21. At Laconia, N. H., Coburn & Leavitt. mill operators, assigned with $30,000 debt. SEPTEMBER. 14. In Chicago Spiegel & Co., furniture dealers, failed for over $150,000. OCTOBER. 8. In New York city A. B. Alden & Co., straw goods, assigned with debts of $150,000. 20. In New York city Burkhalter & Co., wholesale grocers, assigned owing $700,000. NOVEMBER. 18. In New York city Mommer & Co., importers, assigned owing $150,000. DECEMBER. 8. In Hamburg, the brokers Carow and Bartels assigned, owing 7,500,000 marks.
Click image to open full size in new tab
Failures, Assignments, Suspensions, Etc., Among Merchants, Bankers and Others. FEBRUARY. 2. The Commercial and Savings bank of Kearney, Neb., suspended. 8. The Merchants' bank of Moorehead, Minn., closed its doors. APRIL. 25. John H. Kingsbury, banker, assigned in Brocknort N. Y.
Click image to open full size in new tab
Jan. 11—First national bank, of Muncie, Pa. Jan. 20—First national bank of Downs, Kan.; $100,000. Jan. 25—Bank of Jefferson at Shepherdstown, W. Va. Jan. 29—Fall River county bank at Oelrichs, S. D.; $30,000 ... Butler county bank at Chicora, Pa.; $60,000. Feb. 2—Commercial loan and savings bank at Kearney, Neb.; $150,000. Feb. 3—National bank of Silver City, and Feb. 4—Marcy, Geer & McCann's bank at Raton, N. M.; $800,000 First national bank of Deming, N. M. Feb. 6—Western Farm Mortgage Company at Denver; $1,000,000. Feb. 8—Merchants' bank of Moorehead, Minn.; $175,000. Feb. 26—Newmarket (N. H.) savings bank suspended; $191,000. Mar. 1—Lima (O.) national bank. Mar. 21—Painesville (O.) Savings and Loan Association bank. Mar. 24—American national bank of Birmingham, Ala. Apr. 15—Interstate national bank of New York. Apr. 27—Commercial bank of St. Paul, Minn.; $1,000,000. May 25—People's bank of Sea Isle City, N. J. June 4—Platte Valley bank at Central City, Neb. June 25—First national bank at Erie, Kan., Nesha county; losses, $30,000. Sep. 2—Nebraska State bank, at Crete. Sep. 23—Richmond (Me.) savings bank. Sep. 24—People's bank at Hope, Ark. Oct. 17—Two Nebraska state banks, one at Ainsworth, the other at Springview. Oct. 27—Hot Springs (Ark.) Valley bank (private); $80,000. Nov. 5—Continental bank at Kansas City, Mo. Nov. 30—Stone City bank, of Joliet, Ill., and Joliet Enterprise Co. (barb wire manufacturers); $1,000,000. Dec. 6—Wholesale mercantile firm of Wilczinski & Nelson at Greenville, Miss.; $100,000. Dec. 13—Black Hills national bank at Rapid City, S. D. Dec. 13—Lipman & Co., jute merchants at Dundee, Scotland, failed for $1,250,000. Dec. 15—National bank of Newton, Kan. Dec. 18—Wholesale grocery in Brooklyn, N. Y.; $400,000.
Click image to open full size in new tab
FEBRUARY. 2. At Kearney, Neb., the Commercial and Savings bank suspended. 8. At Moorehead, Minn., the Merchants' bank suspended. APRIL. 25. In Brockport, N. Y., Banker J. H. Kingsbury assigned. In St. Louis the Martin Clothing company assigned with $175,000 liabilities. MAY. B1. In Chicago grain speculators Coster & Martin failed for $500,000. JUNE. 21. In New York city Jeweler John Mason assigned with debts of $167,000. JULY. 11. In Boston McConnell & Shaws failed for $300,000.19. At Woburn, Mass., Robert Duncan, leather maker, assigned with debts of $100,000. AUGUST. 16. In Philadelphia the Mutual Banking association assigned. 21. At Laconia, N. H., Coburn & Leavitt, mill operators, assigned with $30,000 debt. SEPTEMBER. 14. In Chicago Spiegel & Co., furniture dealers, failed for over $150,000. OCTOBER. 8. In New York city A. B. Alden & Co., straw goods, assigned with debts of $150,000. 20. In New York city Burkhalter & Co., wholesale grocers, assigned owing $700,000. NOVEMBER. 18. In New York city Mommer & Co., importers, assigned owing $150,000. DECEMBER. 8. In Hamburg, the brokers Carow and Bartels assigned. owing 7,500,000 marks.
Click image to open full size in new tab
FEBRUARY. 2. At Kearney, Nob., the Commercial and Savings bank suspended. 8. At Moorehead, Mins, the Merchants' bank suspended.
Click image to open full size in new tab
Special to the Globe. MOORHEAD, Feb. 25. - Paul Van Vlissengen has sent in his resignation as receiver of the Merchants' Bank of Moorhead. Judge Baxter will be presented with petitions for the appointment of George E. Perley and Leslie Welter to fill the vacancy.
Click image to open full size in new tab
Special to the Globe. MOORHEAD, Feb. 25. - Paul Van Vlissengen has sent in his resignation as receiver of the Merchants' Bank of Moorhead. Judge Baxter will be presented with petitions for the appointment of George E. Perley and Leslie Welter to fill the vacancy.
Click image to open full size in new tab
Bank Building Under the Hammer Special to the Globe. MOORHEAD, Minn., Aug. 22.-Receiver F. G. Barrows today sold at private sale the Merchants' Bank building to F. G. Asseltine and V. Fischer, of this city, for $20,250.
Click image to open full size in new tab
a "turning over" will not be to the dis- advantage of the state.
### MOORHEAD
presents a singular contrast to any of the other towns that I have visited in the district. It is aware that a great national campaign is in progress, but it does not seem to be greatly worried about it. The financial argument is omnipresent, of course, just as it is everywhere else in free America whenever two men meet. But "politicians are quiet," so Receiver F. G. Barrows, of the Merchants' bank, told me, and I found his statement correct. There have been all the incentives to enthusiasm here that there have been elsewhere-speeches, torchlights, free silver and Republican newspapers, etc.-but for some unexplained reason the