Bank of Edgerton (Edgerton, SD)

Episode Information

Episode UID
8668113691141
Episode Type
Suspension โ†’ Closure
Bank Type
private
Bank ID
866811369 hash
Start Date
January 2, 1895
Location
Edgerton, South Dakota (43.339, -98.827)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5173f42a1035045c

Response Measures

None

Description

Bank made a general assignment to Henry Harding (county treasurer), assets reportedly exceed liabilities.

Events (2)

1. January 2, 1895 Other
Newspaper Excerpt
A general assignment has been made to Henry Harding, the present county treasurer and the largest creditor of the institution.
Source
newspapers
2. January 2, 1895 Suspension
Cause
Local Shock
Cause Details
Crop failure and consequent slow collections/non-collections forced a general assignment and closure of the bank.
Newspaper Excerpt
Irving H. Welch, manager and owner of the Bank of Edgerton, of this place, has assigned.
Source
newspapers

Newspaper Articles (3)

Article from St. Paul Daily Globe, January 3, 1895

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Article Text

Edgerton Banker Assigns. EDGERTON, S. D., Jan. 2.-Irving H. Welch, manager and owner of the Bank of Edgerton, of this place, has assigned. Henry Harding, the county treasurer, whose term expired Jan. 1, 1895, is assignee. Welch has had the county funds, and is unable to pay, and it IS presumed the assignment is made to protect the county treasurer. Assets and liabilities are unknown at this time, but it is supposed that they are about equal, and that no one will lose much.


Article from The Madison Daily Leader, January 4, 1895

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Article Text

South Dakota Banker Assigns. EDGERTON, S. D., Jan. 4.-Irving H. Welch, manager and owner of the Bank of Edgerton, has assigned. Assets and liabilities are unknown at this time, but it is supposed that they are about eqn::1 and that no one will lose much.


Article from Union County Courier, April 11, 1895

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Article Text

the October term of court. When he reached Deadwood he found a burdened docket, which, despite his own ill health, he proceeded to clear, and the term lasted until a few days before Christmas. Judge Edgerton was in Arkansas on account of kis illness. Just before adjourning the term Judge Dundy laid before the bar certain correspondence between himself and Edgerton, and asked the bar to decide whether it was their wish that he return and hold the Feburary term. The bar unanimously asked Dundy to hold the term. # Two Banks to Close. The First National Bank of Fort Pierre has assigned to its creditors, and C. D. Meade of Pierre was appointed receiver. The principal creditors'are the Georgetown National Bank of Georgetown, Mass.: John Farnsworth of Cresco, Iowa; Bank of Volga, Volga, S. D. The bank holds plenty of collateral to satisfy all claims, but was obliged to close on account of slow collections. The Bank of Edgerton has also closed its doors. A general assignment has been made to Henry Harding, the present county treasurer and the largest creditor of the institution. Crop failure and consequent non-collections is given as the cause. The assets are in excess of the liabilities, and depositors will be paid in full. # South Dakota Presbyterians, The annual minutes of the synod of South Dakota Presbyterian Church, just sent out by Rev. H. P. Carson, D. D., of Scotland, show it includes 126 churches, of which 99 are American, 18 Indian, 6 German, 2 Bohemian and one Holland. Eighty-three of these have houses of worship and twenty-five have manses. The total membership is 5,014, a net gain of 208 over last year. One minister died and six more were ordained. The total benevolent contribution was $6,385. The total of the home expenditures of these churches was $39,368.