Bank of South Dakota (Madison, SD)

Episode Information

Episode UID
9153127191081
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
915312719 hash
Start Date
January 11, 1890
Location
Madison, South Dakota (44.006, -97.114)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0910ac18a6b9866f

Response Measures

None

Events (2)
1. January 11, 1890 Receivership
Newspaper Excerpt
The Bank of South Dakota has assigned to M. W. Daly.
Source
newspapers
2. January 11, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Assignment following discovery of books ... in bad shape and insolvency; assets ~ $150,000; liabilities unknown.
Newspaper Excerpt
The Bank of South Dakota has assigned to M. W. Daly.
Source
newspapers

Newspaper Articles (12)
1. January 11, 1890 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, January 11, 1890

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ABBREVIATED TELEGRAMS. Fire losses at Chicago during 1889 foot up $2,251,471.91, which is $800,000 more than for 1888. Hobbs, Glidden & Co., of Boston, dealert in building materials, have failed with liabilities of $150,000. Rachel Dee, of Danville, Ills., charges her husband, Anderson Dee, with having another wife at Williamsport, Ind. The Bank of South Dakota, at Madison, S. D., assigned Thursday. Assets claimed, $150,000; liabilities. not given. Nelson's jewelry store at Mandan, N. D., was robbed Friday at noon of $600 worth of watches and rings. The proprietor was at dinner. Col. J. G. Stowe, of Kansas City, was attacked by footpads Thursday night, but he used his cane so vigorously that his assailants ran away. A petition has been filed in the Indiana supreme court asking that the case against Chicago dressed beef, recently dismissed, be reinstated on the docket. United States District Judge Foster, at Topeka, Kan., refused to receive the evidence of "spotters" Friday in liquor selling cases unless corroborated by other testimony. The First National bank of Chehalis, Washington, capital $50,000, and the Hazleton, Pennsylvania, National bank, capital $100,000 have been authorized to begin business. In the international chess congress now in progress at Havana, Cuba, a game between Tschigorin, the Russian champion,and Gunsberg required seven hours to finish. Gunsberg won. It is said at New York that a combination of Pennsylvania oil producers is preparing to build a new pipe line between the oil fields and the coast, in opposition to the Standard Oil company. Safe-breakers made a raid on the safe of Selz, Schwab & Co., at 190 Franklin street, Chicago, early Friday morning and got away with about $500 in cash. The work was done by experts. W. H. Bennett, who moved several years ago from Sterling or La Salle, Ills., to Council Bluffs, Ia., is in trouble because he is sweet on a woman other than his wife. In fact, he has fled with the other woman. The "Lucy" furnace at the Carnegie works, Pittsburg, exploded Friday, instantly killing Michael Welsh and seriously burning with molten metal Thomas Welsh, Thomas Summerlee, Henry Skilford, John Quigley, Michael Morrissey, Martin Summerlee, Henry Shilkin, and James Duffee. Hollanders who want to send watches and jewelry by mail to their friends in the old country are notified that they had better save their money. Such articles are dutiable in Holland, and the authorities there simply throw them into a pile until enough has accumulated, and then put them in a machine and pound them to pleces.

2. January 11, 1890 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, January 11, 1890

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Assignment. MADISON, S. D., Jan. 11 -The Bank of South Dakota has assigned. The assets are claimed to be $150,000; liabilities unknown. The assignment of the bank forced the La Belle Horse Importing Company to assign yesterday. The ranche's assets are about $150,000, mostly in land and horses. Liabilities about $60,000.

3. January 12, 1890 The Morning News Savannah, GA
Article from The Morning News, January 12, 1890

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DOUBLE ASSIGNMENT. A Bank and a Ranch in South Dakota Go to the Wall. MADISON, S. D., Jan. 11.-The Bank of South Dakota has assigned to M. W. Daly. The assets are claimed to be $150,000; liabilities unknown. The assignee is engaged in looking over the books, which are in bad shape, learning how the concern does stand. The assignment of the bank forced the La Belle Ranch Horse Importing Company to assign yesterday, as the ranch and bank were closely connected. George L. Wright, late secretary and treasurer, is assignee. The ranch's assets are about $150,000, mostly in land and horses; liabilities, about $60,000.

4. January 12, 1890 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, January 12, 1890

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Two Assignments. MADISON, S. D., Jan. 11.-The bank of South Dakota has assigned to M. W. Daly; assets $150,000; liabilities un known. The assignment of the bank forced the LaBelle Ranch Horse Importing company to assign yesterday. The rauch assets are $150,000, mostly in land and horses; liabilities $60,000.

5. January 12, 1890 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 12, 1890

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Heavy Failures in South Dakota. MADISON, S. D., Jan. 11.-The Bank of South Dakota assigned Thursday. The assets are claimed to be $150,000; liabilities not given. The assignee is engaged in looking over the books. which are in bad shape. The assignsurped ment of the bank forced the La Belle

6. January 12, 1890 The Daily Citizen Asheville, NC
Article from The Daily Citizen, January 12, 1890

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Two Heavy Dakota Failures. MADISON, S. D., January 11.-The bank of South Dakota has assigned to M. W. Daly. The assets are claimed to be $150,000; liabilities unknown. The assignee is engaged in looking over the books which are in bad shape, and learning how theconcern stands. The assignment of the bank forced the La Belle ranche horse importing company to assign yesterday, as the ranche and bank were closely connected. Geo. L. Wright, late secretary and treasurer, is the assignee. The ranche's assets are about $150,000, mostly in land and horses. Liabilities are about $60,000.

7. January 12, 1890 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 12, 1890

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Bank of South Dakota Assigns. MADISON, S.D., Jan. 11.-The Bank of South Dakota has assigned to M. W. Daly. Assets $150,000; liabilities unknown. The assignment of the bank forced the Labelle Ranch Horse Importing company to assign yesterday. The ranch sssets are $150,000, mostly in land and horses. Liabilities, $60,000.

8. January 18, 1890 The Livingston Enterprise Livingston, MT
Article from The Livingston Enterprise, January 18, 1890

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The Bank of South Dakota, at Madison, S. D., has assigned. Assets $150,000; liabilities unknown. The assignment of the bank forced the LaBelle Ranch Horse Importing company to assign also. The ranch assets are $150,000, mostly in land and horses; liabilities $60,000. William Black, a colored youth who had just completed a term in the penitentiary and returned to his home in Barnwell county, S. C., was on Saturday tied to a tree by a white man named Ready and shot to death. Before committing the brutal deed Ready knelt down and prayed for his victim. Several white men stood by and witnessed the murder without protest, and no arrests were made. A terrible mistake was made in the family of Merrill Griffin, at Dearborn, Michigan, Saturday night. The family were all suffering with the influenza and took strychnine instead of quinine. Mr. Griffin, his wife, daughter aged 13 and son aged 9 were the victims. The daughter died at 2 o'clock Sunday morning and there is no hope for Mr. Griffin. Mrs. Griffin and the son have a bare chance to pull through. The New York Sun says: A combination is being made between some of principal oil producers of Pennsylvania and owners of foreign capital, for the purpose of constructing new pipe lines between the oil fields and the coast. The move is the most important one in the oil industry which has been attempted since the Standard Oil company secured its monopoly of the pipe line transportation. It contemplates the purchase outright of wells valued at $10,000,000, and the construction of competing lines, and the combination of many of the principal producers who do not want to sell their wells. The stables belonging to Macey Bros. burned at Versailles, Kentucky, Saturday morning, destroying 35 out of the 38 valuable horses. Among the most valuable horses lost are: Bell Boy, 3-year-old, record 2:19¼, the property of Clark & Hopper, bought for $51,000; Argent, value $6,000; a two-year old by Red Wilkes, dam by York Prince, $3,000; Forward, $5,000; Cookey, $3,500; You and I, two-year-old twin fillies, $4,000; Fannie Fern, the great brood mare, $3,000; three Messenger Chief colts, two-year-olds, $5,000; Messenger Chief filly, $5,000; Buckner, 4,000; other horses valued at $2,000 and less. Gus Macey cannot account for the fire except on the theory of incendiarism. The wind sent burning shingles all over the town. The efficiency of the fire department saved all Versailles.

9. January 1, 1891 Gloucester County Democrat Woodbury, NJ
Article from Gloucester County Democrat, January 1, 1891

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IN THE FINANCIAL WORLD. JANUARY. 12. Bank of South Dakota at Madison assigned; assets, $130,000; liabilities not stated; as a result the La Belle Ranch Horse Importing company assigned; liabilities, $00,000; assets, $150,000. 16. L. II. Stone, San Francisco harness dealer, as signed; liabilities, $204,000; assets small. 28. John B. Lalande, cotton factor, assigned in New Orleans: liabilities, $364,000: assets, $544,000. 30. The First National bank, the Lenox Hill bank, and the Equitable bank, all in New York, closed by order of the United States bank examiner; George H. Pell, a broker, and P. J. Claassen, president of the Sixth National, arrested. MARCH. 7. Monroe Eckstein and Leopold Wertheimer, New York brewers, assigned; liabilities, $600,000. Beiloe freres, bankers, San Francisco, failed; liabilities large. 19. John F. Plummer & Co., one of the largest dry goods commission firms in the business, assigned in New York: liabilities, $1,000,000; assets about the same. APRIL. 8. Manhattan bank, of Manhattan, Kan., failed; liabilities, $600,000. 17. Louis Francke & Co., silk importers, assigned in New York; liabilities, $900,000. 30. The Bank of America, a state institution, at Philadelphia. suspended MAY. 1. The Gloucester City National bank at Glouces ter City, N. J., carried under by failure of Bank of America. Fechheimer, Rau & Co., shirt makers, failed in New York; liabilities $350,000; assets, $276,000. 2. The Fidelity, Surety, Trust and Safe Deposit company of Camden, N. J., the Port Morris bank, the Merchants' bank of Atlantic city and the Merchants' bank of Pleasantville, N. J., suspended payment; said to have been caused by failure of Bank of America. 14. The brokerage firm of Doran & Wright, of New York, with branches in the principal cities, suspended for $400,000. JULY. 29. J. E. Tygert & Co., manufacturers of fertilizers, Philadelphia, failed; liabilities, $317,000 AUGUST. 24. Financial panic in Buenos Ayres SEPTEMBER 3. Hixie & Meller, lumber dealers at Ontigo, Wis., failed; liabilities, $518,000. 4. Potter, Lovell & Co., publishers at Boston, sus pended; liabilities, $5,000,000. Sawyer, Wallace & Co., commission mer chants at New York, assigned; liabilities, $1,000,000. 14. Secretary Windom announced that he would buy $16,000,000 4 per cent. bonds and prepay the interest on the 6s in order to relieve financial stringency. OCTOBER 7. Second financial panic at Buenos Ayres. 14. F. H. Hogarty & Co., bankers at Aberdeen, S. Dak., assigned: liabilities, $240,000; assets, $240,000. 80. Isaac L. Falk & Co., New York clothiers, asalamed liabilities enea 000

10. January 2, 1891 Middlebury Register Middlebury, VT
Article from Middlebury Register, January 2, 1891

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7. Great storm in Great Britain. ASSIGNMENTS AND SUSPENSIONS. The most important assignments and suspensions of the year are mentioned below: JANUARY. Bank of South Dakota and La Belle Ranch Horse Importing Co., Madison, S. D.; L. H. Stone, horses, San Francisco; A. W. Morris & Co., cordage, Montreal; John B. Lalande, cotton factor, New Orleans: Central Wagon Co., Lan sing, Mich. FEBRUARY. A. G. Leonard & Co., Chicago, boots and shoes MARCH. Atlantic Fire Insurance Co., Providence, R I.; R. R. Donnelly & Son, printers, Chicago; Monroe Eckstein & Leopold Wortheimer, N Y.; Belloc Bros., private bankers, San Francisco; John F. Plummer & Co., dry goods commission merchants, New York: J. S. Murphy & Co., lumber, Montreal. APRIL Manhattan Bank of Manhattan, Kan.: Merchants and Traders' Produce Exchange, Nashville, Tenn.: Louis Francke & Co., silk importers, New York; Carl Spengler, liquors, Kansas City, Mo.; Bank of America, Philadelphia, Pa. MAY. Gloucester City National Bank, Gloucester. N. J.; Fechheimer, Rau & Co., New York: Fidelity Surety, Trust and Safe Deposit Co., Camden, N. J.; Port Norris (N. J.) Bank; Merchants' Bank, Pleasantville, N. J.; Merchants' Bank, Atlantic City, N. J.; Doran & Wright, brokers, New York and elsewhere; Smith, Wade & Co., lumber, Quebec. JUNE. Bank of Hartford, Hartford, Wis JULY. J. E Tygert & Co., fertilizers. Philadelphia SEPTEMBER. Hixie & Meller, lumber, Ontigo, Wis : Potter Lovell & Co., publishers, Boston; Sawyer, Wallace & Co, commission merchants, New York; Jackson Woolen Mills, Jackson, Tenn. Bank of Madison, Jackson, Tenn. OCTOBER. Forestal Bros, contractors, St. Paul: F H. Hagerty & Co, bankers, Aberdeen, S. D.; Curry & Hosmer, hardware, Boston: Isaac L. Falk & Co., clothing, New York; Isidore Rosenthal, coats, New York: Leopold Bros. & Co. clothiers, Chicago NOVEMBER. Packing and Refrigerator Co., Kansas City: Barker Bros. & Co., bankers, Philadelphia: U 8. Rolling Stock Co., Ohio, Illinois and Alabama: Thomas Faweett & Co. coal dealers, Pittsburg: Richard H. Allen & Co., bankers and merchants, New York: Thomas Hallen & Co., tankers and merchants, Memphis: Ore gon Improvement Co., New York: Bell & Eysier, backers, Duluth, Minn.; B K. Jamison & Co. bankers, Philadelphia; Walker & Sons, importers New York: Decker Howell & Co., New York DECEMBER. Rittenhouse Manufacturing Co., Passaic, N. J.; Delamater & Co, Meadville, Pa.: V.A. Meyer & Co., cotton, New Orleans; liabilities $2,000,000, nominal assets $3,000,000

11. January 3, 1891 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, January 3, 1891

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IN THE FINANCIAL WORLD. JANUARY. 12 Bank of South Dakota at Madison assigned; assets, $150,000; liabilities not stated; as a result the La Belle Ranch Horse Importing company assigned; liabilities. 300,000; assets, $150,000. 16. L. H. Stone, San Francisco harness dealer, as signed: liabilities, $204,000; assets small. 28. John B. Lalande, cotton factor, assigned in New Orleaus: liabilities, $764.000: assets, $514,000. 80. The First National bank, the Lenox Hill bank, and the Equitable bank, all in New York, closed by order of the United States bank examiner; George II. Pell, a broker, and P. J. Claassen, president of the Sixth National, arrested. MARCH. 7. Monroe Eckstein and Leopold Wertheimer, New York brewers, assigned: liabilities, $000,000. Belloe freres, bankers, San Francisco. failed; liabilities large. 19. John F. Plummer & Co., one of the largest dry goods commission firms in the business, assigned in New York; liabilities, $1,00,000; assets about the same. APRIL. 8. Manha:tan bank, of Manhattan, Kan., failed; liabilities, $600,000. 17. Louis Francke & Co., silk importers, assigned in New York; liabilities, $900,000. 30. The Bank of America, a state institution, at Philadelphia. suspended. MAY. 1 The Gloucester City National bank At Glouces. ter City, N.J., carried under by failure of Bank of America. Fechheimer, Rau & Co., shirt makers, failed in

12. January 8, 1891 Herald and News Randolph, VT
Article from Herald and News, January 8, 1891

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ASSIGNMENTS AND SUSPENSIONS. The most important assignments and suspensions of the year are mentioned below: JANUARY. Bank of South Dakota and La Belle Ranch Horse Importing Co., Madison, S. D.: L. H Stone, horses, San Francisco: A. W. Morris & Co., cordage, Montreal: John B. Lalande, cotton factor, New Orleans: Central Wagon Co., Lan sing, Mich. FEBRUARY. A. G. Leonard & Co., Chicago, boots and shoes MARCH Atlantic Fire Insurance Co., Providence, R. L; R. R. Donnelly & Son, printers, Chicago: Monroe Eckstein & Leopold Wortheimer, N. Y.; Belloc Bros., private bankers, San Francisco; John F. Plummer & Co., dry goods commission merchants, New York: J. S. Murphy & Co., lumber, Montreal. APRIL Manhattan Bank of Manhattan, Kan.: Merchants and Traders' Produce Exchange, Nashville, Tenn.: Louis Francke & Co., silk importers, New York: Carl Speagler, liquors, Kansas City, Mo.: Bank of America, Philadelphia, Pa. MAY Gloucester City National Bank. Gloucester. N. J.; Fechheimer, Rau & Co., New York: Fidelity Surety, Trust and Safe Deposit Co., Caniden, N. J.; Port Norris (N J.) Bank; Merchants' Bank, Pleasantville, N. J.; Merchants' Bank, Atlantic City, N. J.; Doran & Wright, brokers, New York and elsewhere; Smith, Wade & Co., lumber. Quebec. JUNE. Bank of Hartford. Hartford. Wis JULY. J. E. Tygert & Co., fertilizers, Philadelphia SEPTEMBER. Hixie & MeHer, lumber, Ontigo. Wis.: Potter. Lovell & Co., publishers, Boston; Sawyer, Wallace & Co, commission merchants, New York; Jackson Woolen Mills, Jackson, Tenn.: Bank of Madison, Jackson. Tenn. OCTOBER Forestal Bros, contractors, St. Paul: F. H. Hagerty & Co., bankers, Aberdeen, S. D.: Curry & Hosmer, hardware, Boston; Isaac L. Falk & Co., clothing, New York; Isidore Rosenthal, coats, New York: Leopold Bros. & Co. clothiers, Chicago NOVEMBER. Packing and Refrigerator Co., Kansas City; Barker Bros. & Co., bankers, Philadelphia; U. S. Rolling Stock Co., Ohio, Illinois and Alabama: Thomas Faweett & Co, coal dealers, Pittsburg: Richard H. Allen & Co., bankers and merchants, New York; Thomas Hallen & Co., bankers and merchants, Memphis: Oregon Improvement Co., New York: Bell & Eyeler, bankers, Duluth, Minn.; B. K. Jamison & Co. bankers, Philadelphia; Walker & Sons, importers, New York; Decker Howell & Co., New York. DECEMBER. Rittenhouse Manufacturing Co, Passaic, N. J.; Delamater & Co, Meadville, Pa.: V. A. Meyer & Co., cotton, New Orleans; liabilities $2,000.000, nominal assets $8,000,000. Thousands of men and women in the United States recall their membership in the Greek letter fraternities as one of the most enjoyable and profitable features of their college life. Longafter the last traces of memory of the Greek conjugation have vanished, after the Odes of Horace and the swinging lines of the AEneid have faded into the irrevocable past; after all mathematics but the rule of three has lapsed into the secret recesses of the mind; after the finer classifications of the "genus" and "species" have given place to such everyday terms as "mud cat" or "dog fennel;" after all these and a hundred other once important departments of learning have been forgotten, still the recollections of the fraternity, the jolly meetings in the old hall, the exclusive pienics and parties: the dinners, cheap but seasoned with wit and warm geniality; the solemn advice to the erring brother, the sitting up at nights with the unfortunate of the number who fell sick, the anxiety to outdo all rival fraternities in securing good men who entered college, the throb of pride when one of "our boys" won a prize or some special college honor-these things remain as vividand fresh in the memory as though commencement day were only yesterday. -Indianapolis News.