Franklin State Bank - Minneapolis, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 28, 1892
Location: Minneapolis, Minnesota (44.980, -93.264)

Metadata

Model: gpt-5-mini
Short Digest: f271aa68

Response Measures

None

Description

Article (St. Paul Daily Globe, 1892-08-28) reports Judge Smith appointed a receiver (John T. Baxter) to wind up the affairs of the Franklin State Bank. It states the bank is solvent and stockholders wish to invest elsewhere, indicating a voluntary winding-up/closure with a receiver assigned. No run or suspension prior to closure is described.

Events (1)

1. August 28, 1892 Receivership

Newspaper Excerpt: Judge Smith made an order yesterday appointing Attorney John T. Baxter a receiver to wind up the affairs of the Franklin State Bank. The bank is solvent but its stockholders believe their money can be more profitably invested.
Source: newspapers

Newspaper Articles (1)

1. August 28, 1892 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, August 28, 1892

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Article Text

# MINNEAPOLIS. # MINNEAPOLIS GLOBULES. Sarah H. Chestnut has brought suit for divorce against William Chestnut on the ground of cruelty. The hearing of the case of the Northborough National Bank of Northborough, Mass., against John R. Francis has been postponed until next week. Chief of Police Fobertson, of St. Cloud was a visitor at the police headquarters yesterday morning. He was en route to Duluth. Mrs. L. D. Mitchell, Mrs. C. Liuton and L. H. Smith are the new executive committee of the Central W. C. T. U., together with the new officials. Sheriff P. P. Swenson denies the truth of the rumor that he is to shake the dust of Minneapolis from off his feet and become a Montana cowboy. John Peti, a carpenter living at 1900 Sixth street north, is missing. He has not been home since Thursday night, and his family is fearful some harm may have befallen him. H. G. Roth, the Nicollet avenue grocer who has given the grocers' association so much trouble as a cutter of regular prices, has sold out.. The successors are Stevens & Co. Bishop Fowler will preach in the Hennepin Avenue M. E. church today at 10:30 a. m. This is the first opportunity Minneapolis will have to hear the new resident bishop. The East, siders are complaining of the smell of the mass of old bark and other refuse that has been allowed to accumulate in the ruins of the burned McMullen mill. Orlando C. Merriman has filed his bond as receiver of the Educational Endowment association in the sum of $75.00, with John S. Pillsbury and Winthrop Young as sureties. The Bank of Minneapolis has filed with Bank Examiner Kenyon a certificate showing an increase in its capital stock of $50,000. The paid-in capital now amounts to $300.-000. ii. D. Johnson. the youth arrested for stealing a horse and buggy from M. D. Wilson, the liveryman, was released yesterday by Judge Elliot. Wilson declined to prosecute, so the case was dismissed. Rev. J. J. Faude will conduct service today at Camp Memorial chapel, Minnetonka Beach. Music will be rendered by the Masonic quartette. This will be the last service of the season. N. P. Clark, the lumberman, imported yesterday forty-nine horses from Scotland. They left Scotland Aug. 12, and came through to Minneapolis in bond. Two of them are Olenburg coach horses, and the other forty-seven are pure-bred Clydesdales. The following marriage licenses were issued yesterday: Peter J. Shogren and Matilda A. Carlson, John C. Whalen and Annie M. Ward, John D. Shoglund and Senia J. Westinus, Fred W. Moshier and Mabel Cotton, Nels Thysdell and Eva Peterson, Steve Eskra and Mary Stefnaek. An abstract of the assessed valuation of personal and real property was yesterday afternoon forwarded to the state auditor by County Auditor Ledgerwood. The real estate amounts to $132,857,893; the personal to $21,234,091, and the exempt property to $25,780,765; total exclusive of exempt property, $154,091.984. Divorces were granted yesterday to James G. Moulton from Adeline J. Moniton, Mary Goodrich from Samnel H. Goodrich, Susie Sewall Pratt from H. W. Pratt, Phebe H. Slocum from Amaziah Slocum, Julia Bley from Frederick Bley, Joseph Freldheim from Helen Freidheim. Martha Enggren from Bert Enggaen, Bridget Laing from James B. Laing. Judge Smith made an order yesterday appointing Attorney John T. Baxter a receiver to wind up the affairs of the Franklin State Bank. The bank is solvent but its stockholders believe their money can be more profitably invested. The capital is $50,000 and Mr. Brxter's bund was fixed at $60.000. No petition for a receiver was signed by the bank's chiefest stockholders The special committee having in charge the location of the site for the new German Lutheran college has made its report, giving a decision in favor of the Midway district, the spot selected being at a point at Snelling avenue and Seventh street, about a mile and half south of Macalester college. The site comprises six acres, and is on the bluff overlooking the Mississippi. The Northwestern Railroader has brought suit in the district court, through Frank H. Morrill, against C. H. Prior, Ben Davenport, W. W. Huntington, John Day Smith, J. R. Hofflin, Dexter Thurber. Frank Gale and others on behalf of itself and other stockholders in the Cyclone Steam Snow Plow company to enforce the constitutional double liability of $31,000 of debts in the snow plow concern, hich is now insolvent. The World's Fair Butter and Egg company was incorporated yesterday. The company's headquarters will be in Minneapolis with an important branch in Chicago. The company will forward to Chicago all the butter and eggs it can gather in the Northwest. G. L. Hunt, C. N. Hunt, G. McCullough, Н. Е. Johnson, W. James, H. H. Harris, F. H. Morrill, of Minneapolis, and some twelve or fifteen citizens of North Dakota are named as incorporators. The Minnesota Loan and Trust Co. Allows 5 per cent interest on six-months