8446. Security Bank (Duluth, MN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
August 11, 1896
Location
Duluth, Minnesota (46.783, -92.107)

Metadata

Model
gpt-5-mini
Short Digest
cc18fd30ec13a076

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Aug 11–15, 1896) state heavy and unlooked-for withdrawals and inability to make speedy collections forced the Security Bank of Duluth to close on Aug 11; the state bank examiner took possession and a receiver was appointed Aug 14–15. Thus a depositor run led to suspension and eventual receivership/closure.

Events (3)
1. August 11, 1896 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy unexpected withdrawals combined with inability to make speedy collections (liquidity strain evident in published statements) prompted depositors to withdraw.
Measures
Bank closed doors; notices posted; state bank examiner took charge of books and assets.
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
Bank Specific Adverse Info
Cause Details
Suspension/closing followed the heavy withdrawals and inability to make speedy collections; state examiner M. D. Kenyon took possession.
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. (Aug. 14–15, 1896 reports.)
Source
newspapers

Newspaper Articles (21)
1. August 11, 1896 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, August 11, 1896

Click image to open full size in new tab

Article Text

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 The Evening Times Washington, DC
Article from The Evening Times, August 11, 1896

Click image to open full size in new tab

Article Text

TWO BANKS CLOSE DOORS. Murray Hill in New York, Security in Duluth. New York, Aug. 11.-The Murray Hill Bank, doing business at No. 760 Third avenue, one off the oldest State banks in the city, has closed its doors. The bank has deposits of about $1,250,000, which, it is believed, will be paid in full. It is understood that the bank was compelled to suspend because it has had to take a good deal of real estate for loans. It is understood that the directors held a meeting this morning for the purpose of raising the $500,000 said to be needed to carry on the bank's business. The bank cleared through the First National. The First National will clear for it today, and it is stated that the Murray Hill has a large surplus with the first named. Bankers say that the suspension is due to dry rot more than anything else. Duluth. Minn., Aug. 11. The Security Bank of Duluth. one of the largest national banks in the State. "closed Its doors this morning. A notice posted on the door. stated that heavy and unlooked-for withdrawals of deposits and the impossibility of making speedy collections compelled it. The capital stock of the bank was $100,000 and its surplus $40,000. Its last statement show total resources of $535,835. There was, 6,740 of undivided profits on hand, The total deposits on July 22, the date of bank's last statement, were $329,324 None of the cers of the bank will talk about the k's affairs further than to say that th expect to pay all deposits in full,

3. August 11, 1896 The Jersey City News Jersey City, NJ
Article from The Jersey City News, August 11, 1896

Click image to open full size in new tab

Article Text

MINNESOTA FEELS THE STRAIN. The Security Bank of Deluth Closes Its Doors. DULUTH, Minn., Aug. 11, 1896.-The Security Bank of Duluth, one of the largest national banks in the State, closed its doors this morning. Two notices are 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, LARDNER, (Signed) "Cashier."

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

Click image to open full size in new tab

Article Text

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.

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

Click image to open full size in new tab

Article Text

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.

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

Click image to open full size in new tab

Article Text

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.

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

Click image to open full size in new tab

Article Text

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.

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

Click image to open full size in new tab

Article Text

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.

9. August 12, 1896 The Ely Miner Ely, MN
Article from The Ely Miner, August 12, 1896

Click image to open full size in new tab

Article Text

SOLID Such is the Condition of the Exchange Bank of Ely as Proved Yesterday. RUMOR DID IT. Large Amounts Paid Out to Depositors up to Noon Today. Telegrams arriving yesterday conveyed the information to our citizens that the Security Bank of Duluth had closed its doors. The report spread quite rapidly and caused considerable excitement in this city, as it was known that Jos. Sellwood, president of the Exchange Bank of Ely, was heavily interested in the Security Bank. This morning almost before six o'clock, many people were congregated before the bank building carrying certificates of deposit, bent on withdrawing their money. Before nine o'clock the street was blocked with depositors and this condition of affairs prevailed until dinner time. Women ran hither and thither, many bound for the mines to get their husbands to come up and save their cash. Of course, as is usual in such cases, several agitators were there to help swell the insecure feeling, many of those doing the larger part of the talking not having a cent deposited. The rush had been expected and it came. Last evening Smith, of Duluth, arrived in the city having in charge something like $30,000 and prepared to stay and assist Cashier James today. All this forenoon a steady stream of people were pouring from the bank with withdrawn wealth and up to the noon closing hour about $40,000 had been paid out. A few minutes after 1. o'clock Cashier James announced that he would not pay anymore until tomorrow morning at 9 o'clock as the finances had run low but that enough money would be forthcoming on the train to meet all obligations. This announcement caused consternation among those waiting, and the announcement was not received with the best of grace. Several, violently inclined, advocated mob rule and it was only through calmer council that the storming of the bank wasaverted. The disappointed crowd hung around all afternoon and when the passenger train arrived that evening many were at the depot to see "if the money came." The money came and all was serene, many of those who had withdrawn their deposits in the morning

10. August 12, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, August 12, 1896

Click image to open full size in new tab

Article Text

FAILURE WAS EXPECTED. Duluth Bank Goes to the Wall-No Firms Affected. DULUTH, Minn., Aug. 11.-The Security bank, of Duluth, capital $100,000, one of the leading banks of this city, closed its doors this morning. Heavy withdrawals of deposits and the impossibility of making speedy collections is given as the cause. M. D. Kenyon, state examiner, is in charge. The bank's deposits are in the neighborhood of $300,000. The bank has been operated under state laws, and is the outgrowth of the business of F. W. Paine & Co., bankers. It has been a corporation for a dozen years, and has been very successful until now. Among its stockholders are some very wealthy men, and its depositors will not, probably, lose a cent. Its officers are Joseph Sellwood, president; F. W. Paine, vice president, and Henry Lardner, cashier. Its failure is a decided shock to business interests here, but no other bank is believed to be affected. No statement has been made as yet. According to the last one, published July 14, the bank was running pretty close. Its deposits then were $334,000 and its loans $425,000. Rediscounts were $94,000 and the capital $100,000, while the amount of available cash on hand was $71,000. Since the publication of that statement there have been heavy withdrawals and that is said to have brought on the closing. This has been among the leading banks of the city and is a member of the clearing-house association. The failure has so far caused no excitement and none of the other banks are feeling any effect from it.

11. August 12, 1896 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, August 12, 1896

Click image to open full size in new tab

Article Text

BANK DOORS ARE CLOSED One of New York's Solid Institutions Suecumbs to Real Estate Security. New York, Aug. 11.-The following notice signed by F. D. Kilburn, superintendent of banking, was posted on the door of the Murray Hill bank today: "This bank is closed, pending an investigation of the condition of its affairs." The bank is one of the oldest state institutions in this city. The deposits amount to albout $1,250,000, and it is believed that they will be paid in full. One reason advanced for the suspension is the fact that the bank had to take a considerable amount of real estate for loans. The Murray Hill bank was organized in 1870. It has been regarded as one of the strongest of the smaller up-town institutions. It is understood there is due its depositors about $1,250,000. The customers of the bank were cheifly local tradesmen and it had some brewery accounts. The capital of the bank was $100,000. Mr. F. T. Hopkins is president, and the directors are Rufus M. Stiver, John Weier, James Carney, Bernard Metzger, F. Hopkins and Phillip Diehl. Examiner Kilburn gave out a statement this afternoon that the cash assets of the bank amountel to $130,000, and $34,000 due from the clearing house. Of this amount $45,000 at least may be deducted in exchange for yesterday's business. It also has $56,400 unavailable assets in the shape of bonds of a brewing company to which the bank loaned large amounts but which are said to be not worth 10 cents on the dollar. The bank has sold $122,000 in second mortgage bonds and $108,000 of this amount is hypothecated for a loan of $84,000. The deposits of the bank have fallen off $250,000 in the last few months. Three hundred thousand dollars of the $872,000 which is outside available assets is hypothecated to secure large houses and another loan on the outside of $50,000. There are 1,254 depositors affected by the closing of the bank. Mr. Kilburn also said: "I closed the Murray Hill bank because it was in an unfit condition, after consulting with the clearing house committee and the board of directors of the bank. The trouble is, as far as I am able to ascertain, that they have not sufficient money to do business and no way of raising it without great sacrifice. It is my opinion that the depositors will be paid in full. "I had a meeting with the directors this morning and proposed to them that if they could raise $100,000 and put it into the assets, I would allow them to continue. I found this impossible and believing that a further continuance of business would develop into a worse state of affairs, I deemed it advisable to close the bank at once." Duluth, Minn., Aug. 11.-The Security Bank of Duluth, capital $100,000. one of the leading banks of the city, closed its doors this morning. Heavy withdrawals of deposits and impossibility of making speedy collections is given as the cause. M. D. Kenyon, state examiner, is in charge. The bank's deposits are in the neighborhood of $300,000. Chicago, Aug. 11.-The private bank of L. D. Taylor & Co., successors to North & Taylor, 959 West Madison street, was closed today. By order of the court the Equitable Trust company was made receiver. The assets are $150,000; liabilities about $100,000. Dallas, Tex., Aug. 11.-Hetherington and Nelson, dealers in machinery supplies, filed a deed of trust yesterday; liabilities $34,430.

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

Click image to open full size in new tab

Article Text

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.

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

Click image to open full size in new tab

Article Text

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.

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

Click image to open full size in new tab

Article Text

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.

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

Click image to open full size in new tab

Article Text

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.

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

Click image to open full size in new tab

Article Text

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.

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

Click image to open full size in new tab

Article Text

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.

18. August 15, 1896 The Cook County Herald Grand Marais, MN
Article from The Cook County Herald, August 15, 1896

Click image to open full size in new tab

Article Text

OF LOCAL INTREST The Security bank of Duluth failed Tuesday. There will be plenty of time to get hot discussing politics after the weather gets cooler. Mr: and Mrs. Schofield arrived here Sunday evening for a visit with Mr. and Mrs. Nauffts. "Cyclone" Davis has been nominated for Congress by the Taxas populists of Fourth district. Dr. Mayhew, accompanied by his granddaughters, Misses Ella and Carrie Mayhew, returned from Duluth Sunday eyening. Misses Dora Schultz and Clara Murphy who have been visiting friends here returned to their homes in West Duluth yesterday. Running a foot race was the novel method adoped by two New Yorkers to settle which of them should marry a girl that both wanted, and who would not decide between them. At the Republican judicial convention held in Duluth last week W. A. Cant was nominated for district judge to succeed Judge Morris, and JudgeE nsign was nominated to succeed himself. The family of Peter Backlund, who is employed on the new residence being erected for the light house keeper, arrived here Wednesday evening. They willreside for the present in the residence recently vacated by Register Tucker. To us, of the north shore of Lake Superior, who are constantly fanned by the cool, refreshing breezes which predominate here, it is hard to contemplate that scores of people are dying from the effects of the heat within a few hundred miles of us, A party of West Duluthians consisting of Messrs. J. Cochran, Emil Zauft, L. A. Barnes, Mr. and Mrs. R. L. Cochran and Misses Cochran and Rockwell passed through town on the Dixon Wednesday evening en route to Isle Royale where they will enjoy camp life for a couple of weeks.

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

Click image to open full size in new tab

Article Text

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

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

Click image to open full size in new tab

Article Text

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.

21. August 22, 1896 The Madisonian Virginia City, MT
Article from The Madisonian, August 22, 1896

Click image to open full size in new tab

Article Text

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. McFarlane was named. He gave bonds to the amount of $375,000.