9487. Barnesville National Bank (Barnesville, MN)

View Charter #6098 on SPMC

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 6098
Charter Number: 6098
Start Date: January 14, 1914
Location: Barnesville, Minnesota (46.652, -96.420)

Metadata

Model: gpt-5-mini
Short Digest: d642cc73

Response Measures

Full suspension, Books examined

Other: Receiver later appointed (J. A. Kemp); bank remained in receivership with assets being liquidated.

Receivership Details

Depositor recovery rate: 27.0%
Date receivership started: 1914-01-14
Date receivership terminated: 1919-10-31
OCC cause of failure: Fraud
Share of assets assessed as good: 14.1%
Share of assets assessed as doubtful: 80.6%
Share of assets assessed as worthless: 5.3%

Description

Multiple contemporaneous articles (Jan 14-15, 1914) report 'unfounded rumors caused a run' which forced the Barnesville National Bank to close its doors; state/federal examiner expected and a receiver was later appointed/assumed charge (receiver J. A. Kemp took charge April 15, 1914). No articles indicate a reopening; receiver handled asset sales later in 1914.

Events (5)

1. January 18, 1902 Chartered

Source: historical_nic

2. January 14, 1914 Receivership

Source: historical_nic

3. January 14, 1914 Run

Cause: Rumor Or Misinformation
Cause Details: Unfounded newspaper rumors published in another town a week earlier sparked heavy withdrawals.
Measures: Bank officials closed the bank's doors; bank examiner expected to take charge.
Newspaper Excerpt: They claimed that unfounded rumors caused a run, making the closing necessary.
Source: newspapers

4. January 14, 1914 Suspension

Cause: Rumor Or Misinformation
Cause Details: Officials closed the bank following the run attributed to unfounded newspaper rumors; state bank examiner/comptroller involvement anticipated and receiver later appointed.
Newspaper Excerpt: The Barnesville National bank ... was closed by officials today. It is claimed unfounded rumors caused a run, making closing of the bank necessary.
Source: newspapers

5. April 15, 1914 Receivership

Newspaper Excerpt: J. A. Kemp of this city yesterday took charge of the defunct Barnesville National bank at Barnesville, Minn., under the orders of the comptroller of currency. Mr. Kemp ... was ordered to take immediate charge. The bank failed several months ago and has since been in the hands of the federal examiner.
Source: newspapers

Newspaper Articles (18)

1. January 14, 1914 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, January 14, 1914

Click image to open full size in new tab

Article Text

BARNESVILLE BANK CLOSED An Associated Press dispatch to The Forum this afternoon states that the Barnesville National bank, the oldest banking institution there. was closed by officials today. It is claimed unfounded rumors caused a run, making closing of the bank necessary. The state bank examiner is expected to take charge tomorrow. Bank officials declare that every depositor will be paid in full. In connection with the closing, it is alleged that it has been brought about by financial difficulties and disputes within the circles of the Red River

2. January 14, 1914 The Evening Times Grand Forks, ND

Article from The Evening Times, January 14, 1914

Click image to open full size in new tab

Article Text

BIG BARNESVILLE BANK IS CLOSED Oldest Institution in Minnesota City Could Not Withstand Run. Barnesville, Minn., Jan. 14.-The Barnesville National bank, the oldest here, was closed by officials today. They claimed that unfounded rumors caused a run, making the closing necessary. The bank examiner is expected to take charge tomorrow. Bank officials declare every depositor will be paid in full.

3. January 15, 1914 The Mitchell Capital Mitchell, SD

Article from The Mitchell Capital, January 15, 1914

Click image to open full size in new tab

Article Text

MINNESOTA BANK CLOSED AS RESULT OF A RUN Barnesville, Minn.-The Barnesville National bank, the oldest here, was closed today by officials. It is claimed that unfounded rumors caused a run, making the closing necessary. The bank examiner is expected to take charge tomorrow. The bank officials declare every depositor will be paid in full.

4. January 15, 1914 The Madison Daily Leader Madison, SD

Article from The Madison Daily Leader, January 15, 1914

Click image to open full size in new tab

Article Text

BANK IS FORCED TO CLOSE Institution Says Newspaper Caused the Trouble. Barnesville, Minn., Jan. 15.-The Barnesville National bank, one of the oldest banking institutions in Barnes. ville, closed its doors through action of its officers. It is said that newspaper articles published in another town a week ago caused a run that the bank could not withstand. C. H. Anhier, national bank examiner, has been telegraphed for and is expected to arrive shortly to check over the affairs. A receiver will be appointed, according to a statement made by Cashier Vangerpen. Every depositor will be paid in full, he says.

5. January 15, 1914 The Bemidji Daily Pioneer Bemidji, MN

Article from The Bemidji Daily Pioneer, January 15, 1914

Click image to open full size in new tab

Article Text

BANK IS FORCED TO CLOSE Institution Says Newspaper Caused the Trouble. Barnesville, Minn., Jan. 15.-The Barnesville National bank, one of the oldest banking institutions in Barnesville, closed its doors through action of its officers. It is said that newspaper articles published in another town a week ago caused a run that the bank could not withstand. C. H. Anhier, national bank examiner, has been telegraphed for and is expected to arrive shortly to check over the affairs. A receiver will be appointed, according to a statement made by Cashier Vangerpen. Every depositor will be paid in full, he says.

6. January 21, 1914 Willmar Tribune Willmar, MN

Article from Willmar Tribune, January 21, 1914

Click image to open full size in new tab

Article Text

BANK IS FORCED TO CLOSE Institution Says Newspaper Caused the Trouble. The Barnesville National bank, one of the oldest institutions in Barnesville, closed its doors through action of its officers. It is said that newspaper articles published in another town a week ago caused a run that the bank could not withstand. C. H. Anhier, national bank examiner, has been telegraphed for and is expected to arrive shortly to check over the affairs. A receiver will be appointed, according to a statement made by Cashier Vangerpen. Every depositor will be paid in full, he says.

7. January 21, 1914 New Ulm Review New Ulm, MN

Article from New Ulm Review, January 21, 1914

Click image to open full size in new tab

Article Text

BANK IS FORCED TO CLOSE Institution Says Newspaper Caused the Trouble. The Barnesville National bank, one of the oldest institutions in Barnesville, closed its doors through action of its officers. It is said that newspaper articles published in another town a week ago caused a run that the bank could not withstand. C. H. Anhier, national bank examiner, has been telegraphed for and is expected to arrive shortly to check over the affairs. A receiver will be appointed, acrording to'a statement made by Cashler Vangerpen. Every depositor will. be paid in full, he says.

8. January 23, 1914 Morris Tribune Morris, MN

Article from Morris Tribune, January 23, 1914

Click image to open full size in new tab

Article Text

BANK IS FORCED TO CLOSE Institution Says Newspaper Caused the Trouble. The Barnesville National bank, one of the oldest institutions in Barnesville, closed its doors through action of its officers. It is said that news. paper articles published in another town a week ago caused a run that the bank could not withstand. C. H. Anhier, national bank examiner, has been telegraphed for and is expected to arrive shortly to check over the affairs. A receiver will be appointed, ac. cording to a statement made by Cashier Vangerpen. Every depositor will be paid in full, he says.

9. January 29, 1914 The Sauk Centre Herald Sauk Centre, MN

Article from The Sauk Centre Herald, January 29, 1914

Click image to open full size in new tab

Article Text

BANK IS FORCED TO CLOSE Head of Institution Says Newspaper in Neighboring Town Is Responsible for Trouble. The Barnesville National Bank, one of the oldest institutions in Barnesville, closed its doors through action of its officers. It is said that newspaper articles published in another town a week ago caused a run that the bank could not withstand. C. H. Anhier, national bank exeminer, has been telegraphed for and is expected to arrive shortly to check over the affairs. A receiver will be appointed, according to a statement made by Cashier Vangerpen. Every depositor will be paid in full, he says.

10. March 9, 1914 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, March 9, 1914

Click image to open full size in new tab

Article Text

cast is rehearsing another play for production later in the spring. T. Yuster, a junk peddler from Fargo, was before Justice Torson in the local police court last Saturday, charged with the alleged larceny of brass and other material and trespass on the property of the Dwight Baldwin flouring mills. The defendant proved he had no criminal intent and after being apprised of all the circumstances, the court dismissed the case. Gilbert T. Gilbertson, a well known farmer residing near Lawndale, passed away at a Fargo hospital Thursday morning. Funeral services were held at Barnesville last Saturday afternoon. Mrs. Ben Varholt is a sister of the deceased. State officials confiscated a large quantity of cigarette papers found in stores at St. Cloud. They were all burned up. All claims against the Barnesville National bank of Barnesville according to notice from Washington must be presented in proper form to Christopher H. Anheler, the receiver.

11. April 15, 1914 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, April 15, 1914

Click image to open full size in new tab

Article Text

CITY IN BRIEF Phone 212.-Advt. For good photos see Erickson.-Advt. In placing the next order, phone 212. -Advt. Erickson photographs everybody. -Advt. If you want quality and service, phone 212.-Advt. For sale-black dirt and clay. Bowers Bros.-Advt. The complete shop, engraving, printing, blank book. Knight Printing Co. -Advt. Engraved and embossed work of every description. Knight Printing Co. -Advt. Auction posters and other printing on short order. Ulsaker Printing Co., 315 Broadway. Phone 791.-Advt. If you are in business, it will pay you to look up the firm whose phone is 212, especially if you want quality and service.-Advt. R. A. Erickson departed for the Shakopee springs yesterday afternoon. While there he will take medical treatment for his nerves. Buy your wall paper, paints. brushes, mouldings and glass at Fred Johnson Co., 71 Fifth street north, and get green trading stamps.-Advt. We represent the leading manufacturers of the country on standard lines of desks, chairs and tables, also Y & E filing cabinets. Walker Bros. & Hardy.-Advt. The telephone directory is widely used as a city directory. If your name does not appear, order a telephone now, as the next directory goes to press April 15.-Advt. The Standard Oil Co. announces a reduction of one-half cent a gallon on gasoline, effective April 16 at all points in North Dakota and Minnesota. This will be good news for auto owners. I. B. Richards of Chicago, district superintendent of the Pullman Co., who was passing through the city yesterday on the North Coast Limited, was taken suddenly ill and taken to a local hospital. John Bruce, wanted in Grand Forks on the charge of embezzlement, was taken back to that city this morning by the deputy sheriff from Grand Forks county. Walter Coles, colored, anda lady, arrested at the same time, were fined $20 or 16 days in jail in police court today, on the charge of being drunk and disorderly. Deputy County Auditor Buchholz has gone to Chicago to attend the graduation of his son, Clarence, who graduates from the college of dentistry of Northwestern university Before returning to Fargo, Mr. Buchholz will visit relatives in Peoria. Dr. Martin A. Rindlaub is home from his trip abroad. While gone he visited many points of interest, including the holy lands, in addition to many European cities. While in V1enna he attended several clinics conducted by noted physicians and he visited several of the large London hospitals. A. E. Hutchinson of Minnewaukan was in the city last night at the Gardner hotel, en route to Ft. Wayne and Indianapolis, Ind., and Henderson, Ky., where he will close several large land deals. Mr. Hutchinson is a candidate as a progressive republican for the republican nomination for commissioner of agriculture and labor. Two years ago he polled a big vote against Commissioner Gilbreath. The Calkins-Murphy Co. received six new Studebaker cars today. They report the number of sales so far this season as being very favorable to the automobile business, and Mr. Calkins stated today that they were in a fine condition to care for all orders for cars if placed soon. They handle four well known lines in the Studebaker, Paige and Lozier, and this gives them the best chance to serve their customers promptly Joseph A. Kemp has gone to Barnesville, Minn., where yesterday he assumed his duties as receiver of the Barnesville National bank, to which he was recently appointed by the acting comptroller of currency at Washington. Mr. Kemp, originally from Kempton, Ind., is a son-in-law of State Chairman McArthur of the North Dakota democratic central committee. For five years he was president of the North Dakota School of Forestry at Bottineau. Three years ago he came to Fargo, where he has since been engaged in the real estate business. He will continue to make his home here.

12. April 15, 1914 Grand Forks Daily Herald and the Evening Times Grand Forks, ND

Article from Grand Forks Daily Herald and the Evening Times, April 15, 1914

Click image to open full size in new tab

Article Text

KEMP IS NAMED Former Forestry School Head Recelver of Barnesville Bank. Fargo, N. D., April 15.-J. A. Kemp of this city yesterday took charge of the defunct Barnesville National bank at Barnesville, Minn., under the orders of the comptroller of currency. Mr. Kemp was recently tendered the appointment, and on his acceptance, he was ordered to take Immediate charge. The bank failed several months ago and has since been in the hands of the federal examiner. The bank receiver formerly was president of the state school of forestry at Bottineau, N. D.

13. July 24, 1914 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, July 24, 1914

Click image to open full size in new tab

Article Text

FOR SALE-Se½ 31, and sw½ 32-13647, Wilkin county, Minn., 5 miles east from Wolverton, improved. For price and terms see J. A. Kemp, receiver of the Barnesville National bank, at bank in Barnesville, Minn., or at Fargo phone 2179. (212-238)

14. July 28, 1914 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, July 28, 1914

Click image to open full size in new tab

Article Text

# FOR SALE Se¼ 31, and sw¼ 32-136-47, Wilkin county, Minn., 5 miles east from Wolverton, improved. For price and terms see J. A. Kemp, receiver of the Barnesville National bank, at bank in Barnesville, Minn., or at Fargo phone 2179. (212-238)

15. August 11, 1914 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, August 11, 1914

Click image to open full size in new tab

Article Text

# FOR SALE Se¼ 31, and sw¼ 32-136-47, Wilkin county, Minn., 5 miles east from Wolverton, improved. For price and terms see J. A. Kemp, receiver of the Barnesville National bank, at bank in Barnesville, Minn., or at Fargo phone 2179. (212-238)

16. August 14, 1914 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, August 14, 1914

Click image to open full size in new tab

Article Text

FOR SALE-Se% 31, and sw½ 32-13647, Wilkin county, Minn., 5 miles east from Wolverton, improved. For price and terms see J. A. Kemp, receiver of the Barnesville National bank, at bank in Barnesville, Minn., or at Fargo phone (212-238) 2179,

17. August 20, 1914 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, August 20, 1914

Click image to open full size in new tab

Article Text

FOR SALE-Se¼ 31, and sw¼ 32-136-47, Wilkin county, Minn., 5 miles east from Wolverton, improved. For price and terms see J. A. Kemp, receiver of the Barnesville National bank, at bank in Barnesville, Minn., or at Fargo phone 2179. (212-238)

18. November 20, 1914 The Washburn Leader Washburn, ND

Article from The Washburn Leader, November 20, 1914

Click image to open full size in new tab

Article Text

Notice By Mortgage Sale By Advertisement Notice is hereby given that that certain mortgage, executed and de. livered by Florence D. Cary and Francis C. Cary, her husband, Mortgagors, to Christopher H. Anheier, as Receiver of the Barnesville National Bank of Barnesville, Minnesota, Mortgagee, and filed for record in the office of the Register of Deeds of the county of McLean, and state of North Dakota, on the 28th day of February A. D. 1914, and recorded in Book "B-39" of Mortgages, at page 433, will be foreclosed by a sale of the premises in such Mortgage and hereinafter described, at the front door of the Court House in the City of Washburn in the County of McLean, and State of North Dakota, at the hour of 10 o'clock a. m., on the 30th day of November 1914, to satisfy the amount due upon said Mortgage on the day of sale. The premises described in said Mortgage and which will be sold to satisfy the same, are those certain premises situated in the County of McLean, and State of North Dakota, and described as follows, to wit: The Northwest Quarter of the Northwest Quarter, and Lots one and Two of Section Twenty-nine, in Township One hundred forty seven Range Seventy nine, containing One hundred five and 80-100 acres, also Lots One, Two, Three, Four, Five, Six, Seven, Eight, Nine, Ten, Eleven, and Twelve, of Section Twenty-five, in Township One hundred forty seven Range Eighty, containing, Two hundred ninety eight and 96 100 acres, more or less according to the U. S. Government survey thereof. There will be due on such mort. gage at the date of sale the sum of Three Thousand One Hundred Thirty Four and 98-100 Dollars, exclusive of cost of foreclosure. J. A. KEMP, As Receiver of the Barnesville National Bank of Barnesville, Minnesota, a Corporation, successor to Mortgagee. A. T. Cole Attorney for Mortgagee, 714 Front Street, 17-23. Fargo, N. D.