Article Text
Two Minnesota Banks Fail. St Paul, Jan. 7.-A Preston, Minn., special to the Dispatch says: The Bank of Canton, at Canton and the Citizens' bank of Lanesboro, both owned and operated by Field Kelsey & Co., suspended business yesterday.
9517. Bank of Canton (Canton, MN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- January 7, 1897
- Location
- Canton, Minnesota (43.530, -91.930)
Metadata
- Model
- gpt-5-mini
- Short Digest
23c01953
Response Measures
None
Description
Multiple newspapers report the Bank of Canton (Canton, Minn.) suspended business on Jan 7, 1897. Articles give no mention of a depositor run, reopening, or receivership in the provided items. Because there is no evidence of reopening and the bank is reported as 'suspended' (and other banks owned by same firm also suspended), I classify this as suspension_closure. Cause is not stated in the articles.
Events (1)
1.
January 7, 1897
Suspension
- Cause Details
- Contemporary reports simply state the bank 'suspended business' on Jan 7, 1897; no explicit cause given in articles.
- Newspaper Excerpt
- The Bank of Canton, at Canton, Minn., ... suspended business yesterday.
- Source
- newspapers
Newspaper Articles (10)
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CLOSED, ASSIGNED, REOPENED. A Day's Record of Basiness Downfalls and Renewals. Lexington, Va., Jan. 7.-H. L. Kennedy, general dealer in queensware, tinware, etc., has assigned for the benefit of his creditors; J. V. Grinstead trustee. The assets will probably pay preferred creditors in first-class; liabilities unknown. Preston, Minn., Jan. 7.-The Bank of Canton, at Canton, with a capital of $10,000. and the Citizens' Bank, of Landsboro, a small Institution, both owned and operated by Field, Kelsey & Co., suspended business yesterday. Eau Claire, WIs., Jan. .-The Commercial Bank. of Eau Claire, capital $30,000. closed 10-day. The failure is due to the suspension of the Allemania Bank, of St. Paul. President Allen states that the Eau Claire institute will wind up its affairs and that depositors will be paid in full. New York, Jan. 7.-J. H. Johnston & Co., dealers in Jewerly. assigned to-day. Liabilities, $219,600; assets, $201,700. Denver, Col., Jan. 7.-The American National Bank reopened this morning with Julius A. Myers president. It means nearly one million dollars tied-up money being put in immediate circulation here. Youngstown, Ohio, Jan. 7.-The Younstown Car Works. which has been idle for more than a year. will resume on Monday. The company. having secured a large order for coke cars. will have a run of at least two months with other orders in prospect.
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TWO BANKS FAIL. Preston, Minn., Jan. 7.-The bank of Canton, at Canton, and the Citizens bank of Lanesboro, both of which are operated by Field Kelsey and Company, have suspended business.
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TWO BANKS SUSPEND. Preston, Minn., January 7.-The Bank of Canton, at Canton, and the Citizens' Bank, of Hanesboro, both owned and operated by Field, Wesley & Co., have suspended business.
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BUSINESS EMBARRASSMENTS. Preston, Minn, Jan. 7.-The Bank of Canton, at Canton, with a capital of $10,000, and the Citizens' Bank, of Lanesboro, a small institution, both owned and operated by Field, Kelsey & Co., suspended business yesterday. Eau Claire, Wis., Jan. 7.-The Commercial Bank of Eau Claire, capital, $30,000, closed to-day. The failure is due to the suspension of the Allemania Bank, of St. Paul. President Allen says that the Eau Claire institution will wind up its affairs, and that depositors will be paid in full. Cincinnati, Jan. 7.-The Decamp-Levy Company, wholesale saddlery manufacturers, assigned last night. The liabilities are placed at $80,000. Dull business is the reason assigned. W. P. Callahan & Co., manufacturers of ice-making machinery. filed a petition in the Common Pleas Court last night for the appointment of a receiver for the Consumers' Ice Company, of this city, The petitioners are creditors of the company, and they aver that the company is unable to pay interest or principal of their claim of $26,000, balance due for machinery. Minneapolis, Minn., Jan. 7.-Owing to the delay in the appointment of a receiver, Jacobs & Co., of NewYork, have attached the collateral of the defunct Columbia National Bank, of this city, on a claim of $10,000. Galveston, Tex., Jan. 7.-Trustee Kempner to-day made the following statement of the affairs of Fellman & Grumbach, the drygoods merchants.who made an assignment a few days ago for the benefit of their creditors: "Total value of stock of drygoods as per the inventories completed, based on New-York cost, with no expenses for delivery or other charges added. is $97,656.08; total amount due the firm in the way of accounts and notes has not been absolutely determined, but can safely be estimated at $30,000. thus making the total assets of the firm $127,656 08.' C. H. Fancher, president of the Irving National Bank, of New-York City, arrived here to-day. At the time of the failure the firm owed Mr. Fancher's bank $25,000. It is reported that an effort is being made to re-establish the firm.
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Two Minnesota Banks Close. The Bank of Canton, at Canton, Minn., and the Citizens' Bank of Lanesboro', both owned and operated by Field, Kelsey & Co., have suspended business.
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Two Banks Suspend. Preston, Minn., January 7.-The Bank of Canton at Canton and the Citizens' bank of Lanesboro, both owned and operated by Field, Kelsey & Co., have suspended business.
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Latest News Notes. The Commercial Bank, of Eau Claire, closed Thursday. Senator Allison says he will not be in Mr. McKinley's cabinet. The Bankers' Exchange, Minneappolis, has resumed. Kruger wants $10,000,000 indemnity for the Transval raid. The Cubans have broken the Trocha by the aid of a dynamite gun. Dr. Belancourt, an American, has been arrested in Havana as a suspect. The Steamer City of Duluth was damaged by fire at Milwaukee Thursday. The American National Bank, Denver, has reopened with capital of $600,000. A colored legislator. Isaac Allen, has been seated in the Massachusetts council. Clara Ward (the Princess De Chimay) warns American girls not to marry for titles. The Bank of Canton and the Citizens' Bank, of Lanesboro, Minn,, suspended Thursday. The entire business portion of Leonard, Wis., was destroyed by fire Wednesday night. Wool manufacturers ask for compensatory duties on woollen goods, not a duty on wool. Under a ruling of Secretary Lamont Duluth harbor money will not be available for more than a year. Capt George Irving, who took the first vessel from Lake Huron to Lake Superior, died in Windsor, Ont., yesterday, aged 81. Frederick Bauman, a prisoner in the county jail, Louisville, Ky., has confessed that he participated in the murder of Frank P. Arbuckle in New York, November 19. A colored man named Cooper, who was wanted for shooting several negroes at Magnolia, S. C., added four more murders to his list yesterday, three being white people named Wilson. Ambassador Bayard was banquetted by the Article Club, in London, Wednesday night. The Earl of Jersey presided and Cardinal Vaughan proposed the the toast to "The people of the United States." He said:" The people of the United States and Great Britain have a common mission of civilization, and Britains extended to their American cousins the hand of fellowship."
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DOMESTIC. In Minnesota the Bank of Canton at Canton and the Citizens' bank of Lanesboro, both owned and operated by Field, Kelsey & Co., suspended business. Simon Cooper, a negro outlaw, murdered Ben Wilson, aged 80 years, his son Wesley, aged 40, and Mrs. Wesley Wilson, aged 35, and a colored man at Magnolia, S. C. The refusal of Wilson to loan Cooper a buggy was the cause. The Bankers' exchange bank in Minneapolis, Minn., which suspended some days ago, has resumed business. William J. Bryan was the guest of the Bryan league at a banquet given at the Tremont house in Chicago in celebration of the anniversary of Andrew Jackson's birth and made the principal speech. Anthony Henderson. a negro arrested for the murder of George Summer at Unadilla, Ga., and attempted assault upon his daughter, was lynched by a mob. John Vaughan and Gus Homer, armed with a pistol and knife, engaged in a duel at Memphis, Tenn., and both were fatally wounded. The fiftieth session of the general assembly of Indiana met in Indianapolis. Henry C. Pettit, of Wabash, was chosen speaker of the house. The American national bank of Denver, Col., which suspended April 21, 1896, has reopened its doors. The United States dispatch boat Dolphin arrived at Jacksonville, Fla., to watch filibusters. Howard Wilson and Miss Fay Rawls broke through the ice while skating at Creston, la., and in saving the life of the young lady Wilson lost his own. The exchanges at the leading clearing houses in the United States during the week ended on the 8th aggregated $1.144,639,080, against $1,085,921,223 the previous week. The decrease compared with the corresponding week of 1896 was 7.6. William Speidel, 21 years of age, was robbed and murdered while on his way to be married at Port Jervis. N. Y. Thomas Wilson, accompanied by his daughter, Mrs. Kinnery, and her five children. attempted to ford Prairie creek near Plato, Mo., and the children were all drowned. R. G. Dun & Co., of New York. in their weekly review of trade say that while banking failures have not ceased at the west, apprehension about them Las almost wholly subsided and no serious influence upon general trade is expected There were 488 business failures in the United States in the seven days ended on the 8th, against 329 the week previous and 405 in the corresponding period of 1896. The Bank of North St. Paul, Minn., closed its doors with liabilities 01 000. Robbers blew open # safe in the post office at Blooming Grove, Tex., and secured $9,000. The office of the Leader, a newspaper at Montpelier, O., was burned, the loss being $10,000.
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The Union Manufacturing company, iron and steel, at Boyertown, Pa., has confessed judgment for $9,000. It was incorporated in May, 1894, with a paid-in capital of $35,000. The Walker White Lead company, of Cincinnati, Ohio, has confessed judgment for $10,000, and was taken charge of by a deputy sheriff. The paid up capital of the company is $50,000. The officers of the San Juan county bank of Aztec, N. M., have decided to close that institution owing to poor business. Depositors will be paid through the Smelter City bank in Durango, Colorado. The Van Wagner-Henney Shoe company, of Sedalia, Mo., has given a trust deed. The business was started eighteen years ago and incorporated in Sept. ember, 1895, with a capital stock of $12,000. Owing to the delay in the appointment of a receiver Jacobs & Co., of New York, have attached the collateral of the defunct Columbia National Bank, of Minneapolis, Minn., on a claim of $10,000. The Bank of Canton, at Canton, Minn., with a capital $10,000, and the Citizens' bank, of Lanesboro, a small institution, both owned and operated by Field, Kelsey & Company, have suspended business. The Stewart Ceramic company, of New York, manufacturers of washtubs, basins, and ceramic ware, have assigned to Anthony R. Porter. The company was incorporated under the laws of New Jersey in 1892, with a capital stock of $200,000. Koch, Dreyfus & Co.. wholesale jewelers, of New York, have suspended. placing their affairs in the hands of attorneys to arrange a settlement with creditors. The amount involved is $200,000. The firm came from New Orleans in 1889. The stockholders of the Dansville Savings and Loan Association, at Dansville, N. Y., have been informed that the assets, $45,000, are exceeded by the lia bilities to the extent of at least n a thousand dollars. Those who will suffer for the most part are working girls. The Dime Savings bank, with 4,000 depositors, one of the old est exclusive banks in Chicago, will go out of existence before the expiration of the ninety-day day notice, which has been re quired of depositors since the suspension of the National bank of Illinois.