Merchants State Bank - Cass Lake, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Cass Lake, Minnesota (47.379, -94.604)

Metadata

Model: gpt-5-mini
Short Digest: ecdbf983

Response Measures

None

Description

Article (1906-03-02) reports that Merchants State Bank was organized shortly after First State Bank and 'suspended after a few months.' No run is mentioned. The piece also mentions a rumored merger of the two remaining banks, implying the suspended institution did not continue independently and may be taken over; because a permanent reopening is not reported and a takeover/merger is discussed, I classify this as suspension_closure. Date of initial suspension is not specified in the article.

Events (1)

1. * Suspension

Cause Details: Article gives no specific cause for the suspension; simply states the bank 'suspended after a few months.' No rumors, runs, or government action are described in connection with the suspension.
Newspaper Excerpt: The latter institution suspended after a few months.
Source: newspapers

Newspaper Articles (1)

1. March 2, 1906 Little Falls Herald Little Falls, MN

Article from Little Falls Herald, March 2, 1906

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Article Text

BANK MERGER AT CAS3 LAKE. Feb. 23.-There is a well-defined rumor here to the effect that there will shortly be a merger of the two banks that are now doing business here. The banking situation in Cass Lake has, during the past year, been a somewbat strenuous one. About a year ago the First State bank was organized in opposition to the First National bank, which had been doing business here ever since the organization of the town. Snortly afterwards, another bank was organized, known"as the Merchants State bank. The latter institution suspended after a few months. Since that time there has been very active rivalry between the two banks for the business of the town. It is stated that H. E. Reed, now cashier of the First State bank, will remain with the merger instituton.