9463. Anoka National Bank (Anoka, MN)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
3000
Charter Number
3000
Start Date
May 5, 1889
Location
Anoka, Minnesota (45.198, -93.387)

Metadata

Model
gpt-5-mini
Short Digest
ae309129

Response Measures

Accommodated withdrawals

Receivership Details

Depositor recovery rate
59.7%
Date receivership started
1931-01-27
Date receivership terminated
1937-10-19
Share of assets assessed as good
25.9%
Share of assets assessed as doubtful
70.6%
Share of assets assessed as worthless
3.5%

Description

Multiple contemporary articles (May 5-6, 1889) report a small run on the Anoka National Bank triggered by panic from the Pratt embezzlement and related rumors (also rumors about the Washburn Mill assignment/closing). The bank met all demands with ample cash and there is no mention in these pieces of a suspension or immediate closure. A later 1890 brief mentions a receivership tied to Pratt's actions, but that is separate from the May 1889 run episode.

Events (3)

1. July 10, 1883 Chartered
Source
historical_nic
2. May 5, 1889 Run
Cause
Bank Specific Adverse Info
Cause Details
Panic stemming from the Pratt embezzlement (and attendant rumors) and related rumors about closing/assignment of the Anoka lumber business/Washburn Mill.
Measures
Paid depositors promptly; had ample cash on hand (reported $80,000–$200,000 in deposits and $80,000–$100,000+ cash) and offered to obtain outside financial aid.
Newspaper Excerpt
A run on the Anoka National bank occurred yesterday... less than $20,000 being drawn out, and the bank had over $100,000 on hand to meet it.
Source
newspapers
3. January 27, 1931 Receivership
Source
historical_nic

Newspaper Articles (11)

Article from Daily Kennebec Journal, May 6, 1889

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Article Text

RUN PROMPTLY MET. Farmers Feeling Panicky About Their Savings in the Anoka Bank. ANOKA, Minn., May 5. The run on the Anoka national bank occurred yesterday. It however, amounted to very little less than $20,000 being drawn out and the bank had over $100,000 on hand to meet it. The money drawn out was by farmers. Business men still keep on depositing. The run is supposed to be the result of panic feeling prevailing since the Pratt embezzlement and owing to rumors of closing out of the Anoka lumber business.


Article from Sacramento Daily Record-Union, May 6, 1889

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Article Text

ern section of this city in the person of Mrs. Anna Coates, colored. She was born near Port Tobacco, Maryland. She cannot fix the date of her birth. but was 20 years old when Washington died, in Lecember, 1799. This would make her 110 years old. She has 2 good memory and remembers Washington's funeral and the invasion of Washington City by the British in 1814. She has two living sons over 75 years of age. She works every day at Wasnington. Sorghum Experiments. WASHINGTON, May 5th Chemist Milen of the Agricultural Department left to-night for the purpose of selecting sites for stations to conduct experiments in growing and manufacturing sorghum. He expects to establish stations at Rio Grande, New Jersey; Venner, Louisiana, Cedar Falls, Iowa and at Starling and other points in Kansas. During the past week he has established a station in Maryland, on the gounds of the Maryland Agricultural College. He is sanguine of the successful results of the experiments. An Extra Session Probable. WASHINGTON. May 5th .-Senator Ingalls says that, in his opinion, there will be an extra session of Congress called next fall, probably about the middle of October. This course has been deemed judicious with a view to organizing the House of Representatives and getting the legislation in shape before the holiday recess. Congressmen Reed, Cannon. McKinley and Henderson of Iowa also indorse this belief. whileamong the Senators and members generally the opinion all drifts that way. An Irrepressible Crank. NEW YORK, May 5th.-George Francis Train, who has been fasting for sixteen days, delivered one of his characteristic lectures at the Union Square Theater this evening, to a fairsized audience. He was dressed in a queer and ancient style. The speaker explained that his other clothes did not fit him. There was no particular connection in his remarks, but some of his points were aimed at the late great celebration in this city, which he called a fizzle. Diamond Contests. CHICAGO, May 5th.-The games of baseball played throughout the East to-day resulted as follows At Cincinnati-Cincinnati 12, Louisville 5. At Columbus-Columbus Baltimore 10. At Kansas City-Kanses City 1s, St. Louis 12. At New York-Athletics 5. Brooklyn 1. At Baltimore-Baltimore 10, Columbus 8. Justice Gray to Be Married. WASHINGTON, May 5th.-The marriage of Justice Gray to Miss Jeannette Matchews will take place early in the present month. The Supreme Court will adjourn May 11th, and it is probable that the date for the happy event will be on the following Wednesday. the 15th instant. Owing to the recent death of the bride's father. Justice Matthews, the event will be strictly private. A Military Inspection. CHICAGO, May 5th.-Secretary of War Proctor and Adjutant General Drumm arrived in the city this evening. together with Generals Schefield Crook and Williams. They will leave morrow for the regular inspection of the military posts in the West, going first to Rock Island, thence to Leavenworth, Fort Riley, Denver, Cheyenne, Omaha and St. Paul. Coming to California WASHINGTON, May 5th.-Lieutenant Sumner C. Paine, U. S. N., under orders to join the United States Iroquois at the Navy-yard, Mare Island, Cal., arrived in this city Tuesday from his h me in Bangor, Me., and is stopping with his father-in-law, Prof. J. H. Coffersus. at 1901 I street, northwest. He will report for duty aboard the Iroquois on the 15th inst. A Run On a Bank. MINNEAPOLIS, May th.-There was a run on the Anoka National Bank yesterday. caused by the rumor that the Washburn Mill Company has assigned. The bank had plenty of cash and paid the deposits as fast as ca led for. Senator Washburne is the President and largest stockholder. He says the rumor was groundless. A Palatial Residence. WASHINGTON, May 5th.-Chief Justice Fuller has purchased of Judge Andrew Wylie the later's residence property on Fourteenth street fronting Thomas circle, between Vermont avenue and M streets, for $100,000. The Chief Justice will take possession of the property next autumn. In America at Last. NEW YORK, May 5th.-The passengers of the steamship Danmark, which foundered at sea, who had been left at the Azores by the steamship Missouri, were landed. at Castle Garden from the steamship Wieland to-day. There were 320 of them. A Double Murder. LYKINS (Pa.), May 5th. - An Englishman named Ware snot and killed two persons here last night during a quarrel over agame of cards. His victims were named Jones and Miller. The murderer was arrested. The French Centennial. NEW YORK, May 5th.-The French people of this city to day celebrated the centennial anniversary of the dawn of the French revolution by a mass meeting in Webster Hall. A St. Louis Blaze. ST. LOUIS, May 5th.-A fire to-day destroyed the Harrison Wire Works and the Crown Cartridge Company's factory adjoining, together with five small dwellings. Loss, $50,000.


Article from Evening Star, May 6, 1889

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Prepared to Meet all Demands. St. PAUL. MINN.. May 6.-A rumor that the Washburn Mill company had assigned, caused a run on the Anoka National bank Saturday, Senator Washburn, being president of the bank. W. S. Hale, treasurer of the Mill company, says the amount withdrawn was $25,000 in small sums, none of the heavy depositors taking part in the run. There are $200.000 deposits, and the bank is prepared to pay all demands on the spot. The rumor in question doubtless grew out of the fact that Mr. Washburn is about to close up the Anoka branch of his lumber business, in order to concentrate his interests and relieve himself of some of their active managements, the step made necessary by his new duties as senator. Mr. Washburn is at Hot Springs, but will be home shortly.


Article from St. Paul Daily Globe, May 6, 1889

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Article Text

THE BANK ALL RIGHT. A Slight Run on the Anoka National Bank. Special to the Globe. ANOKA, Minn., May 5.-The Anoka National bank is all right, notwithstanding the scare headlines of the Pioneer Press this morning to the contrary. The slight run of yesterday took about $20,000 to satisfy demands, and it will probably be continued to a small extent to-morrow, but as the bank has between $80,000 and $100,000 cash on hand, and business men depositing instead of checking out, there is no possibility that its resources will be affected. The statement of the Pioneer Press that Pratt had plundered the Anoka National bank is false in every particular, as he has never had any connection whatever with it; neither have the officials ever left the legitimate banking business to indulge in other or wheat speculations. Cashier Guderian said to-day that the bank has cash enough on shand to meet all calls, and has been offered any amount of outside financial aid. Any rerious results are not for a moment to be thought of.


Article from Los Angeles Daily Herald, May 6, 1889

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Article Text

A Run on the Bank. ANOKA, Minn., May 5. -A run on the Anoka National Bank occurred yesterday. It however amounted to very little, less than $20,000 being drawn out. and the bank bad over $100,000 on hand to meet it. The money drawn out was by farmers. The business men still keep on depositing. The run is supposed to result from the panicky feeling prevalent since the Pratt em bezzlement.


Article from Omaha Daily Bee, May 6, 1889

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A Run on a Bank. ANOKA, Minn., May 5.-A run on the Anoka National bank occurred yesterday. It, however, amounted to very little, less than $20,000 being drawn out, and the bank had over $100,000 on hand to meet it. The money drawn out was "by farmers. The business men still kept on depositing. The run is supposed to be the result of the panicky feeling prevalent since the Pratt embezzlement.


Article from Wichita Eagle, May 7, 1889

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A RUN ON A BANK. ANOKA, Minn., May 5.-A run on the Anoka National bank occurred yesterday. It, however, amounted to very little, less than $20,000 being drawn out and the bank had over $100,000 on hand to meet it. The money drawn out was by farmers. Business men still keep on depositing. The run is supposed to be the result of the panicky feeling prevalent since the Pratt embezzlement and owing to rumors of the closing out of the Anoka lumber business.


Article from Telegram-Herald, May 7, 1889

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Not Much of B Run. ANORA, Minn., May 6. Saturday's run on the Anoka National Bank was E small affair. Less than $20,000 was drawn out, and the bank had over $100,000 on hand to meet it The money drawn out was by farmers. Business men still keep on deposting The run is supposed to be the result of the panicky feeling prevalent since the Pratt embezzlement and owing to rumors of the closing out of the Anoka lumber business


Article from St. Paul Daily Globe, May 7, 1889

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Practically Over. Special to the Globe. ANOKA, Minn., May 6.-The Anoka National bank is still in a flourishing condition, therun being practically over at noon. About $12,000 or $13,000 was drawn out to-day. The bank has over $100,000 to start in with to-morrow. No further run is anticipated.


Article from The Hot Springs Star, May 17, 1889

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A Run on a Bank, A run on the Anoka National bank occurred the other day. It amounted to very little, however, less than $20,000 being drawn out, and the bank had over $100,000 on hand to meet it. The money drawn out was by farmers. The business men still keep on depositing. The run is supposed to be the result of the panicky feeling prevalent since the Pratt embezzlement.


Article from St. Paul Daily Globe, January 3, 1890

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DISTRICT COURT BRIEFS. More Reminiscenses of the Missing Cashier Pratt. The absconding of Cashier P. F. Pratt and the consequent wrecking of the Anoka National bank was recalled to mind by a complaint filed in the district court yesterday. This suit is brought by George McNair, of Minneapolis, receiver of the Anoka National bank, to recover $3,800 on a promissory note. Chester & Lindsay made the note to Pratt, who indorsed it and transferred it to the bank. Both Chester & Lindsay and Pratt are made defendants. As Pratt's whereabouts are unknown, an attachment has been issued against Chester & Lindsay. Theo Miller has filed an assignment of all his property to William Baehr. His estate is valued at about $7,000. Baehr filed a bond for $14,000. Solomon C. Herbst has begun an action against William H. Simon and May E. Simon to recover $1.097.57, alleged to be due on seven promissory notes.