9651. Lake City Bank (Lake City, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1897*
Location
Lake City, Minnesota (44.449, -92.267)

Metadata

Model
gpt-5-mini
Short Digest
34f7ea4f

Response Measures

None

Description

Articles (1900) refer to litigation with the Lake City, Minn., bank and its receiver and mention a foreclosure in 1897. No run or depositor panic is described. This indicates the bank had entered receivership/was closed (suspension leading to closure). Exact date of receivership not specified; foreclosure occurred in 1897.

Events (1)

1. January 1, 1897* Receivership
Newspaper Excerpt
he has been in litigation with the Lake City, Minn., bank and its receiver. When the foreclosure was made in 1897, the plaintiff, in addition to taking the real estate security, also took the 1897 crop.
Source
newspapers

Newspaper Articles (2)

Article from Bismarck Daily Tribune, August 28, 1900

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Article Text

AROUND THE STATE. Jamestown's city council may decide to dynamite the old artesian well, to see if the pipe cannot be cleared. A hobo tried to ride on top of the coaches on the North Coast Limited and got ten days in the Jamestown jug. The Minnesota and Northern elevator burned at Arvilla with 30,000 bushels of wheat. The loss will be $20,000. James Monroe, while alighting from the train at Hankinson, was killed by an engine. He is a single man 25 years old. Dr. N. M. Black, who served with the North Dakota regiment in the Philippines and is a son of Major Black of Valley City-has been appointed instructor in a Milwaukee medical college. Clayton Worst of Fargo writes an interesting letter home from Nome City, near where he is located. Clayton is not pleased over prospects at Nome for the winter and is undecided whether he will go to Dawson or to China. Conductor Dunning and Brakeman Melchoir have secured a patent on a car wheel clamp said to be a great saver of time and labor in replacing brasses in car axle boxes. It is used in the N. P. coach yards in St. Paul where brasses are replaced in half the ordinary time. Railroad men who have used it speak in high terms of it. Nels P. Rasmussen: A man named Edward Galmalgard, who lives in the southern part of Griggs county, has the smallest crop of any farmer I know of. He has a half section farm and had several hundred acres in crop, and all he has to show for his summer's work is five shocks of wheat. This grew in a low spot where the moisture gathered. I call that a small crop. Napoleon Homestead: Mr. Loren Hart, of Red Lake is in town today and left a sample of his millet crop at the Homestead office, which is the finest thing in that line we have seen in North Dakota. Mr. Hart sowed his millet about the 25th of June and he informs us that the entire field of twenty-five acres now averages a growth of fully three feet, and is well filled. He is quite enthusiastic over his experiment this year and intends to sow about 100 acres next year. In court at Hillsboro Judge Pollock ordered judgment entered in the case of The State vs. Collar, adjudging the place in which Collar had run an alleged temperance saloon a common nuisance, and ordering the liquor and paraphernalia therein contained to be destroyed as the law directs. The sheriff will carry out the orders of the court at once. The cost which have been assessed against the building, which has now been closed about three months, will be paid by the owner of the building. Fargo Forum: Only one city in this great No. 1 hard wheat state, a part of the "bread provider of the world," reports its bank clearings, viz., Fargo. But that is sufficient to show the wonderful prosperity of its people and the increase in the volume of business they are doing. In the first six months of the year 1894 the bank clearings of Fargo were $3,154,187. For the first six months of 1899 they were $7,270,743, a gain of over four millions, and for the first six months of 1900 they were $8,181,307. For June, 1899, they were $1,380,426 and June, 1900, they were $1,449,442. Alex Gilmore of Buffalo is feeling pretty good these days. For a number of years he has been in litigation with the Lake City, Minn., bank and its receiver. Some years ago he gave a mortgage for $10,000 to the First National Bank of Casselton. Holmes was also president of the Lake City institution and the mortgage was transferred. When the foreclosure was made In 1897, the plaintiff, in addition to taking the real estate security, also took the 1897 crop. Gilmore's suit against the bank was to recover the value of the crop, as he claimed the other security was ample to satisfy the


Article from Bismarck Weekly Tribune, August 31, 1900

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Article Text

storm completely demolished the shack and when found the young lady was lying unconscious some rods from the ruins of her residence. Her nose was broken and her face and arms badly cut. At last accounts she was improving rapidly, but it is feared the wounds received during that frightful storm will disfigure her for life. Conductor Dunning and Brakeman Melchoir have secured a patent on a car wheel clamp sawa to be a great saver of time and labor in replacing brasses in car axle boxes. It is used in the N. P. coach yards in St. Paul where brasses are replaced in half the ordinary time. Railroad men who have used it speak in high terms of it. Nels P. Rasmussen: A man named Edward Galmalgard, who lives in the southern part of Griggs county, has the smallest crop of any farmer I know of. He has a half section farm and had several hundred acres in crop, and all he has to show for his summer's work is five shocks of wheat. This grew in a low spot where the moisture gathered. I call that a small crop. Napoleon Homestead: Mr. Loren Hart, of Red Lake is in town today and left a sample of his millet crop at the Homestead office, which is the finest thing in that line we have seen in North Dakota. Mr. Hart sowed his millet about the 25th of June and he informs us that the entire field of twenty-five acres now averages a growth of fully three feet, and is well filled. He is quite enthusiastic over his experiment this year and intends to SOW about 100 acres next year. In court at Hillsboro Judge Pollock ordered judgment entered in the case of The State vs. Collar, adjudging the place in which Collar had run an alleged temperance saloon a common nuisance, and ordering the liquor and paraphernalia therein contained to be destroyed as the law directs. The sheriff will carry out the orders of the court at once. The cost which have been assessed against the building, which has now been closed about three months, will be paid by the owner of the building. Fargo Forum: Only one city in this great No. 1 hard wheat state, a part of the "bread provider of the world," reports its bank clearings, viz., Fargo. But that is sufficient to show the wonderful prosperity of its people and the increase, the volume of business they are doing. In the first six months of t the year 1894 the bank clearings of Fargo were $3,164,187. For the first 1 six months of 1899 they were $7,270,743, a gain of over four millions, and for the first six months of 1900 they were $8,181,307. For June, 1899, they were $1,380,426 and June, 1900, they were $1,449,442. The Pembina Pioneer-Express: f ground is in fine shape for plowing, but could still store up a large amount more of moisture for next year's crops. The amount of moisture that can thus t be stored in our wonderful soil, is best e attested by the crops of this year, which, short as they are, yet present thousands of acres of wheat that will thresh from 6 to 25 bushels to the acre, which were practically without rain d from seeding to July, and then after a one good rain of three inches at that time, no more moisture until nearly harvest, and f it had not been for hot winds that blew the soil away from the r roots of the early sown grain, the yield would be very much better. S Alex Gilmore of Buffalo is feeling e pretty good these days. For a number of years he has been in litigation with the Lake City, Minn., bank and its receiver. Some years ago he gave a mortgage for $10,000 to the First National Bank of Casselton. Holmes was also president of the Lake City institution and the mortgage was transferred. When the foreclosure was made in 1897, the plaintiff, in addition to, taking the real estate security, also took the 1897 crop. Gilmore's suit against the bank was to recover the value of the crop, as he claimed the other security was ample to satisfy the mortgage. The matter has been fought at great length and Gilmore finally won out on an order of the court that he be returned $2,400 taken by the bank. HE FOOLED THE SURGEONS