8757. Seven Corners Bank (St Paul, MN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
May 14, 1892
Location
St Paul, Minnesota (44.944, -93.093)

Metadata

Model
gpt-5-mini
Short Digest
e763e93e07016bb2

Response Measures

None

Description

Newspapers report runs/withdrawals in May 1892 and a significant run/withdrawals in early August 1893 leading to suspension/assignment (failure). Official statements and later court records attribute the ultimate failure to irregular loans/embezzlement by cashier C. A. Hawks; a receiver/assignee was appointed and the bank did not reopen.

Events (6)
1. May 14, 1892 Run
Cause
Local Banks
Cause Details
Failure of the Commercial Bank of the city created a panic and talk of a run on Seven Corners; depositors withdrew but were paid on demand.
Measures
Paid depositors who demanded their money; management publicly stated they could meet any run.
Newspaper Excerpt
It was given out that a run would be made on the Seven-corners Bank...The run started, but the complacent air with which Billy sat in the front office of the bank smoking a cigar and paying all who demanded their money...
Source
newspapers
2. August 1, 1893 Run
Cause
Local Banks
Cause Details
Part of a wider St. Paul financial flurry and stringency in money markets that produced runs on several small banks in early August 1893.
Measures
None specifically described beyond efforts to meet demands; ultimately unable to meet obligations leading to suspension/assignment.
Newspaper Excerpt
There was a considerable run on the institution during the early hours to day.
Source
newspapers
3. August 1, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Official statements and later reporting attribute the suspension/assignment to massive irregular loans and theft by the cashier C. A. Hawks, which wrecked the bank's finances rather than general stringency alone.
Newspaper Excerpt
The Seven Corners State bank, capital $100,000, failed this afternoon. ... The Seven Corners bank of this city, a state institution with $100,000 capital, assigned this afternoon.
Source
newspapers
4. August 2, 1893 Receivership
Newspaper Excerpt
St. Paul's First Bank Failure. ST. PAUL, Aug. 2-The Seven Corners' bank in this city, a state institution, with $100,000 capital, assigned. ... Assignee Westfall filed a statement of the assets and liabilities of the bank this afternoon. ... the institution was wrecked by its cashier, C. A. Hawks, who lossed from $25,000 to $50,000 of the bank's money to some people almost without security.
Source
newspapers
5. December 10, 1896 Other
Newspaper Excerpt
Findings for plaintiff fixing liability of stockholders and appointing receiver to adjust claims. ... Otto Walther vs. The Seven Corners Bank and W. P. Abbott, Edward Ayd et al.; findings for plaintiff fixing liability of stockholders and appointing receiver to adjust claims. (court proceedings continuing after failure).
Source
newspapers
6. December 5, 1897 Other
Newspaper Excerpt
The affairs of the defunct Seven Corners bank were practically wound up ... the creditors will all receive a further dividend ... The Seven Corners bank is now out of court as well as out of existence.
Source
newspapers

Newspaper Articles (23)
1. May 14, 1892 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, May 14, 1892

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NOTES. Our best bow is due to Judge Conroy, the newly-elected justice of the peace for the east Tom, beg pardon, Judge Conroy, is entitled and fully merits the honors bestowed upon him. James Burns, Tim Kelliher and Chas. McDermott, of this city, in company with John McCarthy and John O'Shaughnessy, of Stillwater, left for New Orleans last Friday to attend the national convention of the A. O. H. St. Lnke's Literary society held their second post lenten social at the residence of Hon. Judge McDonald last Thursday evening. Despite the inclemency of the weather the gathering was of large proportions and the entertainment par +xcellent. Among those who took part in the same were the Misses Egan, Miss Franklyn, Miss Campbell and Messrs. Donnelly, Cole and McCarthy. Bishop McGolrick, of Duluth, was in the city last Sunday, the occasion being the blessing of St. Vincent's church, of which Rev. Father Cosgrove is the esteemed and beloved pastor. Bishop McGolrick preached an eloquent and instructive sermon relative to the occasion at High Mass, and in the afternoon confered confirmation on about one hundred children. At 7:80 in the evening vespers were sung, after which a sermon on Total Abstinence Was delivered by the Rt. Rev. Bishop. This prodigions success, "Spider and Fly," will be presented at the Grand Opera House week commencing May 15, with manifold novelties and a company numbering forty-six who were mostry recruited abroad. The play has been entirely rewritten and reconstructed. The costumes which are said to be very handsome were made especially for this production by Chas. Alias, Costumer for the Drury Lane Theatre, London. The "Spider and Fly" in its new dress has proved one of the strongest novelties and most successful production of the present season. The failure of the Commercial Bank of this city, in some measure, created a panic here last Monday. It was given out that a run would be made on the Seven-corners Bank, of which Billy Banholzer is the esteemed president. The run started, but the complacent air with which Billy sat in the front office of the bank smoking a cigar and paying all who demanded their money, the amount due them had a tendency to quiet the nerves of the depositors. All who want their money can have it, said Mr. Banholzer. we are prepared to meet any kind of a run. But it did not come and Tuesday found everything all serene at the Seven Corners Bank. Not the least of the regrets to be offered by Democrats and Republicans alike is the loss of the present head of the city detective force, John J. O'Connor. To attempt to eulogize him for a past record that is without a stain during his nine years as chief of that department would be superfluous. John O'Connor leaves that office with a consciouspess of having well and truly performed his duties. He has instilled into the minds of the thieving fraternity the one lesson, that St. Paul is a good place for them to keep away from. Socially Mr. O'Connor is one man in a thousand. To see him is to know him, to know him is to respect him and not soon forget him; but to be missed he always will be. The election is over and the question which is now agitating the mind of spoil hunters is the filling of the office of the Chief of Police. Had the late Capt. John Bresette lived to see the result of this late election the question of the selection of chief of police would soon be settled. Bat aspirants for the office are besinging Mayor-elect Wright and a Kilkenny cat fight is now going on among the Republican office seekers. Prominent among them is the present Sheriff, Ed. S. Bean, and the mantle could not fall on better or worthier shoulders. He is eminently qualified to fill the porition and would hold it with the same becoming grace and dignity with which he fills the present office. But his chief opponent is one of his deputies, John Harris. and Harris has a "pull" of no small quantity. The friends of Harris are not few nor isolated, but Bean has a monopoly in that direction and if he really desires the plum will undoubtedly be wearing the star of Chief of Police soon after making his

2. August 2, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, August 2, 1893

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TELEGRAPHIC BREVITIES. ST. PAUL, Aug. 1.-The Seven Corners State bank, capital $100,000. failed this afternoon. UPPER SANDUSKY, O., Aug 1.-The Wyandot County bank suspended. Assets $100,000, liabilities $75,000. NEW ROCHELLE, N. Y., Aug. 1. -John Stephenson, the well known our builder, died yesterday, aged 89 years. CLEVELAND, Aug. - The officers and directors of all savings banks of this city decided to require of depositors notice before the withdrawal of funds. CHICAGO, Aug. 1. - The formal opening of the congress of architects occurred today. The American institute of arenitects elected D. H. Burnham resident. PHILADELPHIA, Aug. 1.-Col. Wm. Fris. muth, aged 70 years. a well known inventor and active organizer of obs du ing the civil war, committed suicide to-eay. OMAHA, Aug. 1.-At a meeting of the presidents of Omaha savings banks this morning it was resolved to require sixty days' notice for the withdrawal of deposits. LONDON, Aug. 1.-The regular of the Royal Southampton Yacht club was held to-day. The course was fifty miles. The Britaunia and Valkyrie died not sail. The American yecht Navahoo wou with case. Satanita second. NEW YORK, Aug. 1.-James Mitchell, of the New York Athletic olub. to-day broke the world's record for putting the fifty-six pound weight. He made thirtv-eight feet one and one-half incues, which is suree feet further than the record. LONDON, Aug. -The Vienna correspond. on' of the News says Russia has resolved to ask China for an explanation of her uiiitude in the Pamire question, in view of the euormous masses of Chinese troops concentrated in the vioinity of Pamire. BUENOR AYRES, Aug. 1.-The radicals at the head of the revolutionary movement now in progress declare their object is to effect a complete revolution, as that of 1890, and to destroy surviving elements of the regime of Ex-President Colman.

3. August 2, 1893 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, August 2, 1893

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St. Paul's First Bank Failure. ST. PAUL, Aug. 2-The Seven Corners' bank in this city, a state institution, with $100,000 capital, assigned. This is the first bank failure in St. Paul in more than a year.

4. August 3, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, August 3, 1893

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ABBREVIATED TELEGRAMS. The Seven Corner bank at St. Paul has closed its doors. Deposits amount to $195,166, and it has a capital stock of $100,000. The Denver Safety Deposit and Trust company has suspended. Its assets are placed at $400,000; liabilities, $100,000. George Kistner, one of the fourteen men arrested at Quincy, III., for the murder of Bradshaw, has confessed that he fred the fatal shot. He says he supposed the revolver contained only blank cartridges, the intention being merely to frighten Bradshaw and Mrs. Breckinridge. Two hundred and sixty-twothousand recruits for the Russian army are to be drawn by conscription this year. The new tax on stock exchange transactions, which went into force in France the 1st. of last month, has well nigh paralyzed business on the French market. The tirailleurs of the Russian army are to be equipped with snow shoes next winter. President Barton O. Aylesworth has written a letter declining the prohibition nomination for governor of Iowa on the ground that the death of Chancellor Carpenter and the serious illness of Dean Hobbs throws the entire management of the Drake university on his shoulders. Ruth Brown Thompson, oldest daughter of Ossawatomie John Brown, of Harper's Ferry fame, is now llving on a ranch near Pasadena, Cal. The negro writers of New York state have formed themselves into the Colored American Press association, of which Rush F. Simms is the president and Christopher Stewart the secretary. Lemuel Stevenson, for twenty years a clown with Barnum's and other circuses, has connected himself with the Salvation Army at Springfield, Mo. Governor Reyes, of the state of Nuevo Leon, Mexico, saw apicture of George Washington hanging near the front door of asaloon in Monterey, and compelled its removal to a more fit place. Fifty-six men deserted the coast defense vessel Monterey at San Fransisco because of the heat when the ship is under steam. William Bedick, a farmer near St. Joseph, Mo., thought he was to get $15,000 in counterfeit greenbacks for his $4,000 good money, and found he had only a package of green paper on his return home from New York. G. C. Trumpff, president of the defunct South Side Savings bank, Milwaukee, has disappeared and, as in the case of Cashier Koetting, his whereabouts is unknown. Thirty-five horses perished in a fire at the Kansas City (Mo.) stock yards. Loss, $18,000.

5. August 3, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, August 3, 1893

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A ST. PAUL BANK. ST. PAUL, Minn., Aug. 2.-The Seven Corners bank of this city, a state institution with $100,000 capital, assigned this afternoon.

6. August 3, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, August 3, 1893

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ing of the presidents of the savings banks it has been decided to require 60 days notice for withdrawal of deposits. WYANDOTTE COUNTY BANK SUSPENDS. UPPER SANDUSKY, O., Aug. 1.-The Wyandotte County Bank of this place has suspended payment. The matter created but little excitement as the general impression is that the bank is thoroughly solvent, its suspension being brought about by lack of confidence by depositors and impossibility of converting its paper into ready cash. Liabilities are about $70,000, while assets are about $100,000. Dr. R. N. McConnell and J. R. Layton have been appointed receivers. A ST. PAUL BANK COLLAPSES. ST. PAUL, Aug. 1.-The Seven Corners bank of this city, a state institution with $100,000 capital, assigned this afternoon.

7. August 8, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 8, 1893

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this city to day have occurred as a consequence of yesterday's collapse. ELYIDO, Ill, Aug. 2 -The Lorain Brass anufacturing Co. has a signed. Liabilities over $100,000. SAN FRANCISCO, Aug. 2.-Fresh Co., Importers, have failed. Liabilities, $150,000. DENVER, Col., Aug. 2 -The Safe De posit and Trust Co. has assigned. Liabilities $100,000. BIRMINGHAM, Ala, Aug. 2.-The First National Bank did not open its doors this morning. A notice says all de positors will be paid in full. Inability to realize was the cause. All excitement was promptly allayed and a slight run on the other banks discontinued at noon. CHICAGO, Aug. 2 -The failure of D. Eggleston has been announced on the board of trade. Failures of George G. Parker and T. M. Gregg have been announced. Parker did a large business. Gregg's failure was a small one. AURORA, Iil., Aug. 2.-A cotton mill in this city employing 500 hands has shut down for an indefinite length of time because of lack of demand for its manufactures. WOONSOCKET, R. I., Aug. 2.-The local plant of the Valley Falls Company, engaged in the manufacture of colored cotton dress goods, and running 340 looms with 135 hands and a weekly pay roll of $1,000, shut down yesterday for an indefinite period O Ving to the lack of market for their goods. The same company's mills at Valley Falls, running 1,500 looms and employing 600 hands, shut down also. MITHEUN, Mass, Aug. 2.-The Metheuna cotton mills suspend operations Saturday for one month. Three hun dred operatives will be out of employment and will suffer the loss of $12,000, the amount of the monthly pay roll. The shut down is ascribed to the financial stringency. The Knitted Fabries Company, employing fifty hands, has also issued notices that the works will close Saturday for a month. BOSTON, Aug. 2.-The works of the American Rubber Company, at Cam bridgeport, Mass., closed down this morning for two weeks. This action throws 1,700 operatives out of work CHICAGO, Aug. 2.-Adam Smith & Co., wholesale liquor dealers, assigned this morning. The assets were scheduled at $150,000, liabilities at $125,000. STEUBENVILLE, Ohio, Aug. 1 -R M Francy was appointed receiver of the Toronto Banking Company this morn ing on a suit entered by J M :Clave, cashier, against Jefferson Saltzman, president, and John Logan, partner in the concern The cause of the failure is said to be the stringency in the money market and inability to realize on as sets. The bank commenced business in 1889. ST. PAUL, Minn.. Aug. 1 -The Seven Corners Bank-aStatebank, organ zed September 15, 1886-closed its doors at one o'clock this afternoon. There had been talk about the bank for several weeks, and there was a considerable run on the institution during the early hours to day. WHATCOM, Wash., Aug 1.-The Bell ingham Bay National Bank did not open its doors yesterday morning. Temporary suspension was caused by constant withdrawal of deposits for the last ninety days. The bank officers expect to resume in a short time.

8. August 9, 1893 Morris Tribune Morris, MN
Article from Morris Tribune, August 9, 1893

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Financial Flurry In St. Paul. Sr. PAUL, Aug. 7.-St. Paul experienced a financial flurry this week. Four banks suspended payment. They were the National German-American, West Side, Seven Corners and Peoples. They were all smali banks except the German-American, which had a capita! os $2,000,000. All but the Seven Corners bank will resume in a short time.

9. August 10, 1893 The Manitowoc Pilot Manitowoc, WI
Article from The Manitowoc Pilot, August 10, 1893

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By the suspension of the Seven Corners Bank at St. Paul the city and county funds are tied up.

10. August 10, 1893 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, August 10, 1893

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Financial Flurry In St. Paul. ST. Paul, Aug. 7.-St. Paul experienced a financial flurry this week. Four banks suspended payment. They were the National German-American, West Side, Seven Corners and Peoples. They were all small banks except the German-American, which had a capital os $2,000,000. All but the Seven Corners bank will resume in a short time.

11. August 11, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 11, 1893

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O'BRIEN *WAGON WORKS GONE UP. Receiver Appointed Yesterday at Lafayette, Where Hard Times Caused the Failure, Special to the Indianapolis Journal LAFAYETTE, Ind., Aug. 10.-This morning the O'Brien Wagon Works Company. of this city. went into the hands of Jacob Marks, receiver. At the beginning of the month the company notified their employes that there would be a reduction of 10 per cent. in wages. The men, or a portion of them, refused to accept the cut, and the company closed down the entire plant, throwing out 165 men. The firm was doing a good business and was making steady shipments of wagone, and, until the stringency in the money market came along, was able to promptly discount good paper. Collections among the wholesalers and retailers were poor, and the company reached a point where their paper, although firstclass, would not be cashed by the banks. They have a large amount of material and orders on hand, but concluded it was better not to make up the wagons and scatter them all over the country and wait for the money, 80 the receiver was appointed. A rough estimate of the obligations of the firm puts the figures at $90,000 or $100,000. They have a good plant, located on the line of the Beltrailway. Other Business Troubles. ST. PAUL, Aug. 10.-The Seven Corners Bank, which closed its doors Aug. 4, was not the victim of the financial stringency. The showing made by the official statement of the assignee was filed late this afternoon, and shows the institution was wrecked by its cashier. C. A. Hawks, who lossed from $25,000 to $50,000 of the bank's money to some people almost without security. HUTCHINSON, Kan., Aug. 10.-The Hutchinson & Southern railroad, with headquarters in this city, and operating letween Hatchinson and the Indian Territory, passed into the hands of a receiver to-day. Otto Miller, the superintendent of theroad, was appointed receiver by the United States District Court for the district of Kansas. KINGSTON, Mo., Aug. 10.-The Caldwell County Bank, of this place, and the Exchange Bank at Polo have closed their doors. Both banks were owned by John D. Cox. The Polo bank was the county depository and all of the county revenue 18 tied up. SEDALIA, Mo., Aug. 10.-The Evening Bazoo, having been published for nearly a quarter of a century without missing an issue, went to the wall last evening. The paper is owned by the J. West Goodwin Printing Company. LEROY, N. Y., Aug. 10.-Frank C. Lathrop's Bank has closed its doors. He has made an assignment to James Kinny. He claims all depositors will be paid in full, and ascribes the failure to the tightness of the money market. MARSHALLTOWN, Ia., Aug. 10.-The Hamilton County State Bank, of Webster City, closed its doors to-day. bnt the officers say it will only be temporary. The assets are reported at $145,000 and the liabilities at $130,000. EBENSBURG, Pa., Aug. 10.-Johnson, Buck & Co.'s bank, of this place, with branches at Carroltown and Hastings, closed its doors at noon to-day. Assets in excess of liabilities. CINCINNATI, O., Aug. 10.-The Central Forniture Association. a co-operative concern. was to-day placed in the hands of C. F. Spreen. receiver. Assets, $63,000; liabilities. 84,000. NEW ORLEANS, Aug. 10.-Thecommercial community uniformly approves the action of the clearing-house banks of this city in deciding to limit cash withdrawals to $50 per day. NEW YORK, Ang. 10.-Judge Ryan has appointed Miles M. O'Brien and Peter F. Meyer receivers of the Madison-square Bank. Their bond 18 placed at $200,000. BOSTON, Aug. 10.-Henry A. Hartley & Co., carpet dealers, doing business on the corner of Washington and Elm streets, made an assignment yesterday. CINCINNATI, Aug. 10.-Henry Brackman. dealer in gentlemen's furnishing goods, has assigned. Liabilities, $40,000; assets nominally the same.

12. August 11, 1893 Oakes Weekly Republican Oakes, ND
Article from Oakes Weekly Republican, August 11, 1893

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Financial Flurry In St. Paul. Sr. PAUL, Aug. 7.-St. Paul experienced a financial Hurry this week. They suspended pay MY Four Dn were the National German-American West Side, Seven Corners and Peoples. 'They were all small banks except my Geritatt=American, which had a capital os $2,000,000. All but the Seven Corners bank will resume in it short time,

13. August 16, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 16, 1893

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TIED UP COUNTY FUNDS. County Commissioners Discuss Their Status Friday. The county committee on claims has been called to meet Friday evening at S o'clock for the purpose of meeting the sureties on bonds given to the county by banks that have funds in their possession and are at present suspended. These are four banks, as follows: National German-American, the Peoples', the West Side and the Seven Corners. The county attorney will be present, and the situation will be discussed, preparatory to making report to the board of county commissioners, which convenes in regular session the following Monday at 10 a. m. By a misunderstanding the bondsmen of the banks referred to met in the room of the board of county commissioners yesterday morning, but the board of county commissioners had not been called to meet by the mayor as given out to the newspapers, and consequently nothing was done.

14. August 17, 1893 Union County Courier Elk Point, SD
Article from Union County Courier, August 17, 1893

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College, charging malfeasance in office. THEOPHILUS RACINE, of Fort Wayne, Ind., was thrown against a steel point in his barn floor by restless horses and killed. THE Lebanon, Pa., Trust and Safe Deposit Bank has failed. It has a capital of $50,000. It is believed the suspension is temporary. THE Nebraska Wesleyan University, at Lincoln, has a new Chancellor, Dr. Isaac Crook, late President of the University of the Pacific. ARCHBISHOP REDWOOD, of Wellington, New Zealand, who will attend the Catholic Congress at Chicago, has arrived at San Francisco. SIXTY persons, including the sheriff and other officers, have been indicted at Memphis for lynching and cremating the negro, Lee Walker. WHILE the agent of a mortgage security company was removing her fur niture, Mrs. Harriet Hill, of Indianapolis, fell dead from heart disease. AT St. Louis, a dilapidated old building collapsed, the whole structure failing into the cellar. Three persons are supposed to be in the ruins. IT has been discovered that irregular loans to himself by C A. Hawks, ex cashier of the Seven Corners Bank at St. Paul, made the suspension of the bank. necessary. PARROTT BROS., cotton commission dealers at New York, have announced their suspensión. They have been heavy operators, but it is not expected the failure will be large. THE President has appointed E. Ellery Anderson, of New York, one of the Pacific Railroad Commissioners, in place of Mr. Dimmick, who was appointed by Mr. Cleveland, but declined the position. As A CANNON was being charged at St. Louis a ball from a Roman candle fell into the cannon's mouth and discharged the piece. Emil Hill, Robert Merriman and Frank Welch were seriously injured. THERE is a piratical craft cruising in Long Island Sound, and for some time past the crew aboard of her have been robbing vessels, stripping yachts and committing all sorts of depredations at farm-houses and cottages along the shore. EMPLOYES of the Cincinnati and Bedford Railroad tried to tunnel under the Evansville and Richmond Road at Bedford, Ind., because the latter would not grant permission to cross their tracks. The hole was filled by the opposing road and litigation will ensue.

15. August 22, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 22, 1893

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three cays and acquamted facts relating to the suspension of the bank. As soon as the necessary prep arations can be made warrants will be issued for the arrest of the men who appear to be guilty of having violated the national banking laws. NASHVILLE, Tenn Aug. 9 The First Nation Bank of this city suspended after banking hours this afternoon. A statement has not yet been given out WASECA, Minn., Aug. 9.-The Peo ple's Bank of this city failed to open yesterday. The directors held a meet ing Monday evening and voted to suspend. Saturday and Monday there was a heavy run on the bank, with drawing SO much of the funds that demands could not be met. Assetsare $135,000, liabilities $67,000. NEW ORLEANS, La, Aug. 9.-A - run was started yesterday on the Germania Savings Bank, and all who came were promptly paid. When the doors of the Germania were opened this morn ing there was a motley group of people waiting on the outside with their deposit books. The savings bank man agers last night night decided to enforce the sixty day clause. Thisaction has apparently had the effect of allay ing the fears of depositors and the run has ceased. MINNEAPOLIS, Aug 9 The Commer cial Bank of this city closed its doors this morning. The Hamilton Loan and Trust Co. New York, has gone into the hands of a receiver. Fuller Bros & Co. one of the largest hardware firms in New York, and a very old firm, assigned on the 9th. The Automatic Piano Company, New York is in the hands of a receiver. The liabilities are $40,000; assets $10,000 WASHINGTON, Aug 11 -Comptroller Eckles was informed this morning of the suspension of the Waxahachi Na tional Bank, of Waxahachie, Texa Capital, $100,000 NEW YORK, Aug. 11.-The failure of Washington Burrows was announced at the Consolidated Exchange this morning EBENSBURG Pa Aug. - The bank ing firm of Johnston, Buck & Co, of this place, conducting banks at Ebens burg, Carrolltown and Hastings, closed their do rs at noon to day and placed the following notice at the entrance: We have assets in excess of our liabili ties, but owing to the constant demand on us for currency in the last twenty four hours we consider it to the best interest of all concerned to suspend payment for the present Twenty big failures was the record made in New York City on the 10th. NASHVILLE, Tenn, Aug 10.-The suspension of the First National Bank last evening was followed to day by the suspension of payment by the American National Bank, one of the largest and strongest in the city. The bank has a capital stock of $1,000,000 and a surplus fund of $116,000 LEROY, N. Y., Aug -Frank C. Lathrop's bank has closed its doors. He has made an assignment to James Kinny. He claims all depositors will be paid in full and ascribes the failure to the tightness of the monev market. CHICAGO, III Aug. 10.-The South Side State Bank, State and Thirty first streets, passed into the hands of a re ceiver yesterday afternoon. The bank has been doing businesssince. June and the volume of business transacted has been small. The capital stock wasplaced at $200,000, but it is alleged only a small percentage of this sum was paid in The deposits will not exceed $18, 000 and were made largely by the various stockholders of the bank. From present indications it appears that John B. Koetting, cashier of the now defunct South Side Savings Bank, practically looted the bank before leav ing the city. It is estimated that he took at least $109,000 in money and securities, and now Receiver Barth has at ached Koetting's individual property in the hope that some of the stolen money may be recovered. KINGSTON, Aug. 10.-The Caldwell County Bank at this place and the Ex change Bank of Polo closed their doors yesterday morning. Both banks are owned by John D. Cox. There is no run on other banks. ST. PAUL, Minn., Aug. 10.-Assignee Westfall filed a statement of the assets and liabilities of the bank this afternoon. Even the most cursory reading of the documents shows that the Seven Corners Bank was not swamped by hard times, but was wrecked by its cashier, C. A. Hawks. BEATRICE, Neb., Aug. 10.-Jacob Bond, president of the defunct Bank of Cortland, was arrested last night. F. C. Severine, a member of the State legislature, swore out the complaint against him, and the principal charge is that of receiving deposits after the bank was known to be insolvent. LOWELL, Mass., Aug. .-Faulkner's Mills have posted a notice of shut down for two weeks from Friday night in all but the dyeing and finishing departments. The mill runs 9,200 spindles and 142 looms and employs 500 hands. WINSTON, N, C., Aug. 12.-King Brothers' Pure Food Company, doing business on Third street, assigned to day, naming Colonel Thomas H. Stratton trustee. Liabilities, about $5,000; assets, $3,500.

16. November 29, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, November 29, 1893

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# SEVEN CORNERS BANK. A Suit Commenced Against the Stockholders. Otto Walther has begun an action against the Seven Corners bank and the stockholders thereof to enforce the collection of a judgment for $414.85. The court is asked to make the stockholders contribute on the double liability of stock to an extent sufficient to pay the judgment, and also to appoint a receiver to wind up the affairs of the concern. Judge Willis has made an order in the cause requiring all creditors of the bank to file answers setting up their claims

17. January 14, 1894 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 14, 1894

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SPECIAL TERM. # Usual Saturday Grind of District Judges. Business was disposed of in special term of the district court yesterday as follows: Before Judge Brill-C. McV. Tobey vs. C. W. Youngman and E. W. Burden, as garnishee; referred to F. W. Benz to take disclosure of garnishee. Evan E. Davies vs. W. H. Hooker & Co. and others as garnishees; referred to A. P. Lathrop to take disclosures. In re assignment of Mast, Buford & Burwell; partly heard on application to remove assignee. Before Judge Otis--In re petition for receiver of the effects of George W. Duks, an insolvent; heard on order to show cause why First National Bank of Butte, Mont., should not join in petition; ordered that petition and answer be amended and case continued two weeks. Anna C. Paegel vs. National German-American Bank; heard on motion for a new trial. The motion for a new trial in a second case between the same parties was denied. Charles Kennedy vs. St. Paul City Railway Company; submitted on motion for a new trial. Before Judge Kelly-Otto Walther vs. Seven Corners Bank et al.; taken under advisement on motion to appoint a receiver. In re assignment of Reuben Rittenmaster; final account of assignee allowed. petition to appoint a receiver for effects of Hudson G. Fogg granted and bond fixed at $6,000: assignee to be agreed upon. In re assignment of Nickel Savings bank: leave given to Michael Machacek to file claim. Nellie McCarthy vs. James McCarthy; taken under advisement on application to allow temporary alimony and attorney fees. William A. Jones vs. Henderson Mountain Mining and Milling Company; application to appoint a receiver granted. Before Judge Kerr-Henry Benedict vs. C. E. Heidel et al.; case continued on calendar after hearing motions to strike from calendar and to dissolve attachment. In re appeal of Ellen Terry from order of probate court in the matter of the estate of Frederick Terry; stay of proceedings ordered, and motion for new trial heard. Before Judge Willis - Charles H. Lathrop vs. William E. Schutte et al; partly heard on motion to file supplemental answers, and further hearing continued two weeks. Emily H. Babcock vs. Caroline C. Murray et al.; motion for new trial denied. Frank C. Laird vs. Roscoe W. Gilkey; judgment for plaintiff ordered. Nellie Keldaas vs. Fifth Ward Building Society; motion to strike out answer denied. In re assignment of Anderson & Heifman; sale of property confirmed. The Connecticut

18. April 1, 1894 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, April 1, 1894

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SPECIAL TERM. The Saturday Grind of D istrict Judges. Following is a resume of the business done in special term of the district court yesterday; Judge Brill-Stillwater ManufacturCompany vs. R. L. Hall & Co.; partly heard on motion to strike out answer. Great Northern Railway Company vs. City of St. Paul; motion for new trial argued and denied. In re assignment of Thomas Riley; leave given assignee to accept certain bids for real estate. Judge Kelly - George D. Rogers vs. J. M. Lauterelle; taken under advisement on motion to exempt certain property from execution. In re assignment of Seven Corners Bank; sale of certain real estate confirmed. In re assignment of Catherine Devitt: final account of assignee approved. in re assignment of Herman Ferlinde; leave given assignee to accept bids for persona! property. Caroline B. Merrill et al. vs. Timothy A. Bowen et al.; foreclosure of mortgage ordered. Judge Otis-Traders' Bank of Tacoma vs. Charles Marvin; submitted on motion of plaintiff for judgment on pleadings. Cunningham & Haas vs. Minneapolis Stockyards and Packing Company; submitted on demurrer to complaint. In re assessment for widening an alley in block 4, of St. Paul proper, and the appeal of D. J. Hennessy; leave given to change attorney of record. In re assignment of C. Q. Rice & Co.; submitted on application to allow final account of assignee. In re application of Graham Paper company to appoint receiver for Daily News Publishing company; Title Insurance and Trust company named as receiver. Judge Willis-Harriet McCauley vs. Dennis Ryan; motion for judgment for defendant in accordance with answer denied. Anchor Investment Company vs. E. G. Handy et al.; leave given Handy to answer, but judgment previously entered IS to stand as to other defendants; motion for a new trial as to defendant Kirkpatrick taken under advisement. Judge Egan-Final naturalization papers granted to D. H. Sullivan and to Julia Scanlan. In re estate of John Scharfbillig, deceased; motion for new trial on the appeal of Mary Walther et al. from probate court taken under advisement. Ida J. Newstrom, as administratrix, vs St. Paul & Duluth Railway Company; taken under advisement on motion for a new trial. Jennie Severns vs. Horace J. Brainard; new trial granted as stipulated. Simon Comfeldt, by guardian, vs. The City of St. Paul; taken under advisement on application of defendant to allow expert witness fees.

19. March 19, 1895 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 19, 1895

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# HAWKS SETTLES. Pays in Full the Claim of the Seven Corners Bank. Judge Kerr yesterday made an order directing W. P. Westfall, a receiver of the defunct Seven Corners bank, to accept the proposition of Charles A. Hawks in selltement of the bank's claim against him, and give him and Kate Nelson Hawks a full release. Hawks' offer was to pay $4,000 in cash and turn over lot 10, block 71, Dayton & Irvine's addition, subject to the encumbrances upon it. The property is on Nina avenue, and is valued at $3,500 above the encumbrance.

20. April 11, 1895 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, April 11, 1895

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NEWS IN MINNESOTA A Masonic lodge has been instituted at Wood Lake. Luverne has only one saloon. License has been raised to $1,250. An order has gone forth closing Minneapolis gambling joints. Seven persons over 90 years of age died at St. Paul during March. The no license ticket was elected at Wakefield by a majority of three. A stock company is being formed to build a $15,000 hotel at Montevideo. A state camp of the order of Maccabees has been organized at Minneapolis. The new bridge across the Mississippi at South St. Paul has been informally opened. A new bank at St. Charles to take the place of the one recently suspended, is talked of. Smoking has been forbidden on the State University campus or in the buildings. A postoffice has been established at Cashel, Swift county. John Pearson, postmaster. Anton Thoreson, a farmer living near Jackson was overcome by chokedamp while working in a well. Assets of the Woods Harvester company, according to schedules filed, are three times the liabilities. The next annual convention of the Republican League of College clubs will be held at Minneapolis. Four hundred Dunkards from Indiana and Kansas passed through St. Paul Thursday. They will settle near Mayville, N. D. Directors of the failed Seven Corners bank at St. Paul have compromised with Ramsey county and will pay the amount of deposit without interest. There is a movement on foot at Hills to move the business portion of the town six blocks east to a ridge overlooking a 20-mile stretch of lower ground on all sides. The owner of the property donates a lot to every business man. John Wacac, ex-representative from Le Sueur county, and now city justice of New Prague, was convicted of issuing a warrant on his own complaint in order to get a settlement from P. Dunn. He was fined $50 or 60 days in the county jail. State Auditor Dunn cancelled the first permit for cutting timber since he has been in office on Friday. It was a permit granted to Holmes & Brown, Becker county, to cut hardwood timber on section 35, township 140, range 41, in Becker county, and the cancellation was peremptory. For the three months ended March 31, 1895, the receipts of hogs at South St. Paul show an increase over the same period of 1894 of 75 per cent, or 44,000 head. Cattle increased over 3,000 head for the same period, and 20,000 more sheep were received during the first quarter of 1895 than in the first quarter last year. Skyeberg, near Kenyon, has a young man, who promises in time to be a regular Goliath His name is Harry McCadden. In height he is 6 ft. 31/4 ins.; his weight is 353 pounds. He measures around the arm, 193/4; the chest, 61; the hips, 54, and around the thigh 37½ inches. Young McCadden is 20 years old and an industrious farmer. At a meeting of the Minnesota Cricket club, held at the Windsor hotel in St. Paul, arrangements were made for matches at Kittsondale with some famous clubs. A game will be played between the New York-St. Paul teams in May. On July 4 the Minnesotas will play the Omaha team, and on Memorial day there will be two games with Pipestone in the morning and with Win-

21. April 17, 1896 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, April 17, 1896

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Notes of the Courts. Thomas Davis, who made an assignment a few days ago yesterday filed a schedule of his assets and liabilities. The aggregate of the former is $4,892.77, and the latter foot up $9,273.10. Judge Egan is hearing the case of Otto Walther against The Seven Corners Bank et al., being an action to establish the liabilities of the stockholders for the debts of that defunct institution. The claims aggregate $170,000. Celia Rosell was given a verdict for $570 in Judge Kelly's court yesterday in her suit for damages against Benjamin Braunstein for being run over by one of his delivery wagons.

22. December 10, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 10, 1896

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DISTRICT COURT ROUTINE. New Cases Begun Yesterday-Actions on Trial. The following new cases were begun in the district court yesterday: 67,489-Eleanor Tatum vs. Ramsey County Land and Loan Co.; action to recover $58.78 alleged to be due on a promistory note and interest on $1,500 for three years at rate of 7 per cent per annum. 67,490-Chapman Drake Co. vs. Simon E. Goodrich; suit to recover judgment of $431. 67,462-In re assignment of Francis J. Berrisford; schedule of assets and liabilities filed. Assets, $653.09; liabilities, $2,876.02. Orders and Decisions-65,303-Charles P. Marvin vs. W. H. McDonald et al.; order granting motion of plaintiff to set aside struck jury. Brill, J. 66,724-Ellen Rush, for Phillip Rush, vs. The St. Paul City Railway Company; order granting motion of plaintiff to set aside struck jury. Brill, J. 65,951-In re guardianship of A. B. Weide: appeal from allewance of claim of Herman Hess; decision allowing modified claim in the sum of $395. Kelly, J. 53,664-Otto Wather vs. The Seven Corners Bank and W. P. Abbott, Edward Ayd et al.; findings for plaintiff fixing liability of stockholders and appointing receiver to adjust claims. 64.788-John W. Lane et al., executor, vs. Charles Eaton et al.; decision adjusting bequests of will. Otis, J. Before the Judges66,656-James H. Butterfield vs. George W. Freeman; motion of defendant to amend answer granted and cause continued. Willis, J. 65,153 - Julia E. Ccombs vs. James A. Coombs; decree of divorce granted on ground of desertion. Willis, J. 66.692-Haitie Olson vs. Anthony Olson; decree of divorce granted on ground of cruel and inhuman treatment. Willis, J. 67,185-Champion Iron Company vs. Northern Building Company; on trial. Kelly, J. 67,306-Harry A. De Mesteri, by guardian, vs. St. Paul City Railway Company; on trial. Brill, J.

23. December 5, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 5, 1897

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SEVEN CORNERS' BANK. Is Finally Disposed of in the District Court. The affairs of the defunct Seven Corners bank were practically wound up yesterday before Judge Bunn at special term. The court granted the final account of Receiver John P. Hoffman and to permit the receiver to pay out all moneys still remaining in his possession as receiver, to the persons entitled thereto. In consequence the creditors will all receive a further dividend of five per cent, when this is paid the creditors will have received altogether something over a 35 per cent dividend. The court allowed Receiver Hoffman $2,500 for his services, and W. P. Westfall, his attorney, $3,386. Of the entire dividend, the assets of the bank paid 10 per cent and the stockholders 30 per cent. The Seven Corners bank is now out of court as well as out of existence.