Northern Pacific Bank - Brainerd, MN

1. May 17, 1905 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, May 17, 1905

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BANK LACKING CASH IS CLOSED. Brainerd, Minn., Institution With $165,000 Deposits Embarrassed. Brainerd, Minn., May 17.-Public Examiner P. M. Kerst, has closed the Northern Pacific Bank, a state institution, for the purpose, as stated in a notice posted on the door, "of making a thorough examination of its affairs." The immediate cause of closing the institution, Mr. Kerst stated was a lack of sufficient cash on hand. The bank is capitalized at $25,000, and has a surplus of $13,000. Its deposits amounted to $165,000, and its total liabilities to $200,000. It is believed that the closing is only temporary. An investigation by the governor started a run on the bank yesterday.

2. May 17, 1905 Rock Island Argus Rock Island, IL

Article from Rock Island Argus, May 17, 1905

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BANK IS CLOSED; SHORT OF MONEY Brainerd, Minn., Institution With $165,000 Deposits Seriously Embarrassed. Brainerd, Minn., May 17.-Public Examiner P. M. Kerst has closed the Northern Pacific bank a state institution, for the purpose, as stated in a notice posted on the door, "of making a thorough examination of its affairs." The immediate cause for closing the institution, Mr. Kerst stated, was a lack of sufficient cash on hand. The bank is capitalized at $25,000, and has a surplus of $13,000. Its deposits amounted to $165,000, and its total liabilities to $200,000. It is believed that the closing is only temporary. An investigation by the governer started a run on the bank yesterday.

3. May 17, 1905 The Minneapolis Journal Minneapolis, MN

Article from The Minneapolis Journal, May 17, 1905

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BRAINERD BANK GLOSED BY STATE Examiner Shuts Doors of Northern Pacific Bank While Investigation Is Made. Brainerd, Minn., May 17.- Closed by order of the public examiner for a thoro examination.' This notice was posted on the door of the Northern Pacific bank of this city yesterday afternoon, and was a blow to citizens, a majority of whom had no suspicion that the soundness of the bank was questioned. Nothing definite was given out until late yesterday afternoon when Superintendent Kerst arrived from St. Paul and said: "The Northern Pacific bank has been temporarily closed by the superintendent of banks for the purpose of making a thoro examination of its affairs. As soon as the examination is finished a statement will be made to the public. "The immediate cause for closing the bank is the absence of cash means.' The Northern Pacific bank was capitalized for $25,000 and had a surplus of $13,000. It had deposits of $165,000, including bills payable, and its total liabilities are $200,000. The superintendent of banks says there was no other reason for closing the bank than that there was absence of cash. His deputies have been in the city for several days and they noticed a natural drawing out of money, what is termed in banking business, "a still run on the bank." The bank officers are among the best-known business men in the city. The president is Dr. Werner Hemstead; vice president, J. F. McGinnis; cashier, H. D. Treglawny. President Hemstead said: "I have enough available resources to place the bank on a footing to pay every depositor dollar for dollar and this we will do at once. It is understood that the directors contemplate a. complete reorganization and the bank will be opened on a sounder and larger basis than ever. There are a great many anxious depositors, but the bank officials offer encouragement in the fact that there are enough resources in the way of good paper to meet all liabilities. Mr. Kerst and a deputy are at work upon the books, but are not ready to make a statement.

4. May 18, 1905 The Bemidji Daily Pioneer Bemidji, MN

Article from The Bemidji Daily Pioneer, May 18, 1905

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STATE INSTITUTION SHUT UP. Northern Pacific Bank at Brainerd, Minn., Closed. Brainerd, Minn., May 18.-"Closed by order of the public examiner for a thorough examination," was the notice found posted on the door of the Northern Pacific bank of this city by astonished citizens during the afternoon. Though no official statement giving the cause of the state's order that the bank be closed can be secured the reason may lie in the fact that the liabilities of the institution are scheduled at $200,000, against deposits of $165,000. The bank is capitalized at $25,000 and has a stated surplus of $13,000. A still run on the bank that state examiners noticed some days ago, it is said, was in danger of draining the institution of what cash it had and that the lack of cash was responsible for the examination.

5. May 18, 1905 The Madison Daily Leader Madison, SD

Article from The Madison Daily Leader, May 18, 1905

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STATE INSTITUTION SHUT UP. Northern Pacific Bank at Brainerd, Minn., Closed. Brainerd, Minn., May 18.-"Closed by order of the public examiner for a thorough examination," was the notice found posted on the door of the Northern Pacific bank of this city by astonished citizens during the afternoon. Though no official statement giving the cause of the state's order that the bank be closed can be secured the reason may lie in the fact that the liabilities of the institution are scheduled at $200,000, against deposits of $165,000. The bank is capitalized at $25,000 and has a stated surplus of $13,000. A still run on the bank that state examiners noticed some days ago, it is said, was in danger of draining the institution of what cash it had and that the lack of cash was responsible for the examination.

6. May 18, 1905 Bismarck Daily Tribune Bismarck, ND

Article from Bismarck Daily Tribune, May 18, 1905

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STATE INSTITUTION SHUT UP. Northern Pacific Bank at Brainerd, Minn., Closed. Brainerd, Minn., May 18.-"Closed by order of the public examiner for a thorough examination," was the notice found posted on the door of the Northern Pacific bank of this city by astonished citizens during the afternoon. Though no official statement giving the cause of the state's order that the bank be closed can be secured the reason may lie in the fact that the liabilities of the institution are scheduled at $200,000, against deposits of $165,000. The bank is capitalized at $25,000 and has a stated surplus of $13,000. A still run on the bank that state examiners noticed some days ago, it is said, was in danger of draining the institution of what cash it had and that the lack of cash was responsible for the examination.

7. May 22, 1905 The Minneapolis Journal Minneapolis, MN

Article from The Minneapolis Journal, May 22, 1905

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HOPE FOR BRAINERD BANK PUBLIC EXAMINER TELLS HOW THE REORGANIZATION MUST BE EFFECTED. Peter M. Kerst, public examiner, believes the Northern Pacific bank of Brainerd, the doors of which were closed on his order, will be reorganized and continue business. "There is an impairment of the capital stock," said Mr. Kerst today, "but to just what extent cannot be determinted until the bank's paper securities are investigated and their true worth ascertained. If the impairment does not exceed the amount of the capital stock, $25,000, and I do not think it does, the bank will be placed in a position where it can reorganize. An assessment will be first levied on the stockholders to make good the deficiency to the depositors. There is a general sentiment. in Brainerd in favor of reopening the bank, but before this can take place I will have to insist on three things. "First-The stockholders must agree to a prompt payment of whatever assessment is levied. "Second-The larger depositors must agree not to withdraw their deposits as soon as the bank is reopened. Such action on their part, creating a disastrous run, would be fatal to the institution. "Third-I shall have to insist that the management of the bank has plenty of cash on hand to operate the institution. 'It was a lack of cash on hand that forced the bank to close its doors. And this lack of cash was the result of inability to realize on paper. Much of this paper can be collected but it may take some time."

8. May 23, 1905 The Minneapolis Journal Minneapolis, MN

Article from The Minneapolis Journal, May 23, 1905

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Looks After Brainerd Bank. Public Examiner Kelso went to Brainerd this morning to help right the affairs of the suspended Northern Pacific bank. A meeting of the stockholders to decide on future action was scheduled for this afternoon.

9. May 23, 1905 The Bemidji Daily Pioneer Bemidji, MN

Article from The Bemidji Daily Pioneer, May 23, 1905

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BRAINERD BANK TO BE REOPENED If Stockholders Will Pay Up Institution Will Be on Sound Footing. In the opinion of Public Ex aminer P. M. Kerst, the Northern Pacific State bank at Brainerd, which was closed by the public examiner pending an investigation of its condition, will be reorganized and will continue business on a solvent basis. Mr. Kerst, who returned to St. Paul from Brainerd yesterday, says, however, that the stockholders will be required to make good the impairment in the capital stock, which was largely the cause for the closing of the bank's doors, and that the larger depositors must agree not to withdraw their deposits as soon as the bank is opened. Naylor's 20 per cent discount

10. May 27, 1905 The Diamond Drill Crystal Falls, MI

Article from The Diamond Drill, May 27, 1905

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WORLD'S.NEWS TOLDINPARAGRAPIS The Capitol City oil mill at Baton Rouge, La, was destroyed by fire. Loss $150,000, fully insured. Gov. Higgins of New York signed the bill fixing a general standard for the investment of savings banks and trust funds. The National Electric company of Milwaukee, of which Frank G. Bigelow was the head, has been placed in the hands of a receiver. The cable between Valdez, Alaska, and Fort Liscom has been laid and is in operation. It replaces a considerable amount of land line difficult to operate in winter owing to excess. ive snow falls. The Northern Pacific bank at Brainerd. Minn., has been closed by the public examiner because of a lack of sufficient cash on hand. Its deposits amount to $165,000 and liabilities are put at $200,000. The sixteenth annual convention of the Travelers' Protective association assembled in Savannah, Ga. Albert Crawford of Evansville, Wis., was killed by a landslide in the gravel pit of the Northwestern railroad. Lightning struck and burned the barn of Fred Bluemyer near Sterling III., and cremated seventy hogs and four horses. Because twenty-eight plasterers from New York were put to work several hundred bricklayers and plasterers in Newark, N. J., went on strike. Mrs. D. W. Carle of Cedar Rapids, Iowa, was fatally injured and her husband and two sons were seriously burned by the explosion of a gasoline stove. John B. Lawrence. a broker. was sentenced in the Baltimore criminal court to four years in the pententiary for obtaining $4,000 from a patron through false pretenses. Gov. Deneen will be asked to grant requisitions to take C. R. Dowd, under arrest at Dixon, III., to Sanilas center. Mich. He is charged with taking a large sum of money. The supreme court of Missouri af. firmed the decisions of the lower courts and sentenced Lambert Niehaus and Henry Heusack. both of St. Louis to hang in St. Louis on June 24 for murder. Secretary Morton returned to Washington from a cruise in Virginia waters and left later for New York. Heinrich Conrad. manager of the Metropolitan opera house, New York, sailed for Europe on the Kaiser Wilhelm II. Oliver M. Maxim. principal clerk in the life-saving service, was appointed assistant superintendent of the lifesaving service, vice Horace L. Piper, deceased. The Springfield coal mine at Pana, III., was purchased by J. Will Smith and Rudy Lohr from the Manufacturers' Fuel Company of Chicago for $100,000. It employs 200 when in operation. Judge Hunt, in the United States court at Helena, Mont., denied an in junction sought by F. A. Heinze against the Parrott Mining company of Butte to prevent its mining in a vein which he contended apexed in the Nipper mine. The Parrott mine, which had been closed down since the proceedings started. will not resume. Superintendent H. M. Crooks of the Lisbon, O., schools has been elected president of Albany college at A1bany, O. E. Warren Toole, one of the foremost lawyers of the northwest and a brother of Gov. Toole of Montana, is dying at his home in Helena. The medical department of the Valparaiso, Ind., college held its commencement exercises and Patrick H. O'Donnell of Chicago made the address. Postmaster General Cortelyou sent a message to President James of the University of Illinois accepting an invitation to address the graduating class of the university June 7. A jury brought in a verdict of guilty against Thomas M. Fields, an attorney of Washington, D. C., charged with the embezzlement of nearly $16,000 of the funds of the defunct Washington Beneficial Endowment association. Steffen Mestinsek, a coal miner, aged 52 years, killed himself at Lincoln, III, by blowing out his heart with a shotgun. Mestinsek received a saber wound on the head while serving in the German army, from which he had never recovered. A head-on collision of two fast freight trains near Hydetown, Pa., resulted in the death of Engineer William Sitting of Oil City and Fireman George Bigman and the injury of several trainmen. The condition of Admiral Dewey, who was taken 111 in New York and who returned to his home in Wash ington, was reported to be better. The Illinois Rural Mail Carriers' as. sociation at Peoria re-elected E. E. Dyer of Aurora president and urged increased salaries. The formal opening the new Union passenger station: which is to replace the antiquated structure in use for years, was made a gala event at Atlanta. Ga. about 50,000 person#

11. July 6, 1905 The Minneapolis Journal Minneapolis, MN

Article from The Minneapolis Journal, July 6, 1905

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NORTHERN PACIFIC BANK RESUMES The Reorganization Committee at Brainerd Meets All Requirements of Examiner. Special to The Journal. Brainerd, Minn., July 6.-The doors of the Northern Pacific bank of this city were opened this morning by order of Bank Examiner P. M. Kerst, and business was resumed after a suspension of several weeks. The bank was opened with the full consent and approval of the public examiner, the reorganization committee having complied with all requirements and all the affairs of the bank having been adjusted satisfactorily. Mr. Kerst said today: "The bank is absolutely in a safe condition. It has been placed under an entirely new management. I have known the new head of the Northern Pacific bank for years and know him to be an able and proficient banker. The conditions which I required have all been met with and in some cases are even better than I had expected. "For instance, one of the conditions was that there be at least $35,000. in hand before the bank could open. The fact is, there is at least $45,000 of cash means in hand. An assessment of 50 per cent of the capital stock of the bank has been paid in in cash. That realized $12,500 and, with the book surplus, $13,000, all of the doubtful assets have been wiped out, leaving the capital stock of the bank. which is $25,000, unimpaired. In addition, there will be a small surplus accumulated during the time the bank has been in the hands of the public examiner." The stockholders held a meeting last night and the resignations of Dr. Werner Hemstead, president, and J. F. McGinnis, vice president, were received. M. T. Dunn of Le Roy, Minn., was elected president and J. A. Batchelder assistant cashier. The offices of vice president and cashier were left open at present, but it is understood some new blood will be infused and the offices filled from members of the new board of directors, which will be elected in a short time.

12. July 10, 1905 The Bemidji Daily Pioneer Bemidji, MN

Article from The Bemidji Daily Pioneer, July 10, 1905

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BRAINERD BANK BEGINS AGAIN Northern Pacific Bank Resumes With Consent of Public Examiner. The doors of the Northern Pacitic bank of Brainerd have been opened by order of Bank Examiner P. M. Kerst, and business was resumed after a suspension of several weeks. The bank was opened with the full consent and approval of the public examiner, the reorganization committee having complied with all require. ments and all the affairs of the bank having been adjusted satisfactorily M. T. Dunn of Le Roy, Minn., was elected president and J. A. Batchelder assistant cashier. The offices of vice-president and cashier were left open at present, but it is understood some new blood will be infused and the offices filled from members of the new board of directors, which will be elected in a short time.

13. July 12, 1905 New Ulm Review New Ulm, MN

Article from New Ulm Review, July 12, 1905

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Bank Opened Again. Brainerd, Minn., July 8.-The doors of the Northern Pacific bank of this city were opened by order of Bank Examiner P. M. Kerst, and business was resumed after a suspension of several weeks. The bank was opened with the full consent and approval of the public examiner, the reorganization committee having complied with all requirements and all the effects of the bank having been adjusted carefully. M. T. Dunn of Le Roy. Minn., was elected president and J A. Batchelder assistant cashier.

14. July 12, 1905 Willmar Tribune Willmar, MN

Article from Willmar Tribune, July 12, 1905

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Bank Opened Again. Brainerd, Minn., July 8.-The doors of the Northern Pacific bank of this city were opened by order of Bank Examiner P. M. Kerst, and business was resumed after a suspension of several weeks. The bank was opened with the full consent and approval ot the public examiner, the reorganization committee having complied with all requirements and all the effects of the bank having been adjusted carefully. M. T. Dunn of Le Roy, Minn., was elected president and J. A. Batchelder assistant cashier.

15. July 13, 1905 The Princeton Union Princeton, MN

Article from The Princeton Union, July 13, 1905

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State News. Drilling for gas will soon be commenced in the vicinity of Foxhome, this State. The public baths on Harriet island, St. Paul, have been closed in consequence of the high water. The Northern Pacific bank at Brainerd has again resumed business after a suspension of many weeks. The State census gives Milaca a population of 1,310. In 1900 the total was 1,204, showing an increase of 106. A heavy hail storm in Roberts county, about six miles west of Brown's Valley, destroyed about 2,000 acres of growing crops. A raid on Winona by representatives of the pure food department has resulted in the imposition of fines amounting to a total of $145. A horse fell through a coal hole at 1608 Stevens avenue, Minneapolis, and it required the combined efforts of ten men and fire truck No. 5 to extricate it. Despite the frequent heavy rains the past month or two the crops about Albert Lea are looking promising and with good weather there will be a heavy yield. The safe of Charles Hanson at Carlton was blown open on the night of July 5 and about $200 in money and valuable papers extracted. No clue to the robbers. The opening to entry of the White Earth and Chippewa reservation lands, comprising about 37,800 acres, will take place on Aug. 15. The government price is $1.25 per acre. In the case of J. T. Roman, an alderman of Winona who sought to assign his salary in advance, Judge Snow of the district court has ruled that such action would be illegal. The slayers of Peter Kracovitch at Evelyth, Frank Lenich and Frank Lonjer, have been found guilty of manslaughter and sentenced to serve ten years each in the penitentiary. Antoinette Seidensticker, the Wheaton girl who was acquitted of murdering her sweetheart, has mailed to each member of the jury one of her photographs with a letter of thanks. The sum of $1,052,628.89 has been deposited in the United States treasury to the credit of the Chippewa Indians as a result of the logging operations in Minnesota during the past winter. In consequence of rain on the Fourth the celebration at Milaca was postponed to the 8th, when fine weather prevailed and the ceremonies, sports, etc., were successfully conducted. Mrs. Wm. Babcock, an old resident of Anoka, died at that place last week, aged seventy-eight years. She had lived in Anoka about twenty years and leaves a husband, three sons and two daughters. As a result of an argument as to the relative merits of a 49-cent and a 50-cent shirt, Dave Skunk, an Indian, was hit over the head by John Ashawa, a brother red, at Sandstone lake and his life crushed out. The population of the State penitentiary is now almost 700 and is gradually increasing. The corridors are being utilized for sleeping places and in the female ward some of the cells are inhabited by two inmates. The report of the first month's work of the State free employment bureau shows that 348 men and eighty-two women and girls have been supplied with work and that the total expense of operation amounted to but $170.38. Nels J. Benson of East St. Cloud attempted suicide last week by cutting his throat. It is said that he will recover. His wife also attempted to drown herself in the Mississippi river but was restrained by bystanders. Sixty thousand school children suffering from defective eyesight and 10,000 afflicted with defective hearing in the Minnesota public schools is the record for the school year just closed as reported by the State board

16. July 13, 1905 Warren Sheaf Warren, MN

Article from Warren Sheaf, July 13, 1905

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Bank Opened Again. Brainerd, Minn., July 8.-The doors of the Northern Pacific bank of this city were opened by order of Bank Examiner P. M. Kerst, and business was resumed after a suspension of several weeks. The bank was opened with the full consent and approval ot the public examiner, the reorganization committee having complied with all requirements and all the effects of the bank having been adjusted carefully. M. T. Dunn of Le Roy, Minn., was elected president and J. A. Batchelder assistant cashier.

17. July 14, 1905 Little Falls Herald Little Falls, MN

Article from Little Falls Herald, July 14, 1905

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NEWS IN MINNESOTA EVENTS OF A WEEK THROUGHOUT THE STATE. About 25,000 people attended the automobile races at St. Paul Saturday. Joseph Tardy, aged eighty-five, a resident of Minneapolis since 1851, is dead. There is no change in the condition of Bishop Joyce, who is seriously ill in Minneapolis. The population of Stillwater under the state census is 12,425, a gain of 107 in five years. Arthur, the three-year-old son of W. J. Jones of Heron Lake, was accidentally drowned in a water tank. Seven boys, leaders in a mutiny at the 'state training school at Red Wing, have been sent to the reformatory at St. Cleud. Judge John B. Ogle, the alleged forger and embeszler, who disappeared from Mankato, has been located on the Isle of Pines. Thomas Brennan, a St. Paul policeman, shot and killed himself at his home in that city. III health is said to have caused his act. Fred Durette, nine years old, was drowned while bathing in a pond of water OR the flats at the foot of Tenmessed street in St. Paul. Mrs. Lydia Porter Fisher, widow of one of the pioneer newspaper men of St. Paul and a resident of that city since 1854, is dead, aged seventy-seven years. Fearing that his wife would contract consumption from him George H. Murray of St. Paul, aged fifty-two years, committed suicide by drinking earbolic acid. John Hutchison, Jr., son of Professor J. C. Hutchison of the Greek department of the state university, was drowned in Ten Mile lake, between Elbow Lake and Dalton. Complete unofficial returns from all but one district of Winona indicate that the present census will show a population of about 20,700, a gain of 1,000 in the past five years. The doers of the Northern Pacific bank of Brainerd have been reopened by order of Bank Examiner P. M. Kerst and business resumed after a suspension of several weeks. Ira Miller of New Ulm was killed by Mghtming while standing in a barn door on a farm near Fairmont. Miller was traveling about the country in search of his wife, who had left him. Daring safecrackers, who departed without leaving a single clew, wrecked the safe in the postoffiee and general store of Woum & Dalens at George town, escaping with $800 in cash and stamps. S. P. Eggen of Minneapolis was chosen president of the Northwestern Photographers' association, in annual meeting at Duluth, and Minneapolis was selected as the next place of meeting. Louis A. Mallory of Minneapolis, fifty years of age, committed suicide in that city by shooting himself. He had been in ill health for some time and on this account was compelled to give up his work. Vernon B. Martin, a well known Minneapolis athlete and university student, was drowned during the Fourth of July yacht races at Lake Minnetonka. He fell OVE hard following the breaking of a man. on the Babbe, which he was sailing. Mrs. Nels Anderson of Two Harbors, who was committed to the Fergus Falls insane hospital about one year ago for insanity and who returned home* two months ago apparently cured, committed suicide by hanging. Her husband discovered her body hanging in the woodshed. The decomposed body of August Byjernson was found in a swamp fifteen miles from Eveleth. Byjornson had been missing from home for a week. A slightly rusted revolver was evidence that it was a case of suicide. He was twenty-two years of age and lived with his widowed mother on a homestead. An argument over the relative merits of two shirts, one costing 49 cents and the other 50 cents, resulted in the killing of an Indian at the settlement north of Grindstone Lake, near Sandstone. The alleged slayer, John Ashawa, is in the lockup at the latter place. The dead Indian's name was Dave Skunk. While the Fourth of July programme was being carried out at the pavilion at Excelsior two men robbed the rooms occupied by George Darsow above his bakery and secured $30 in cash and jewelry. The cashier of the restaurant discovered the men in the act of rifling a dresser and was held up while the burglars finished their ransacking. Fully 60,000 pupils of the Minnesota public schools are suffering from defective eyesight and not less than 10,000 are afficted with defective hearing. This is the record of the first year's inspection of the eyes and ears ef the school_shile which has

18. July 15, 1905 The Irish Standard Minneapolis, Saint Paul, MN

Article from The Irish Standard, July 15, 1905

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Bank Opened Again. Brainerd, Minn., July 8.-The doors of the Northern Pacific bank of this city were opened by order of Bank Examiner P. M. Kerst, and business was resumed after a suspension of several weeks. The bank was opened with the full consent and approval ot the public examiner, the reorganization committee having complied with all requirements and all the effects of the bank having been adjusted carefully. M. T. Dunn of Le Roy, Minn., was elected president and J. A. Batchelder assistant cashier.

9508. Northern Pacific Bank (Brainerd, MN)

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