9736. Guaranty Loan Company (Minneapolis, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 22, 1897
Location
Minneapolis, Minnesota (44.980, -93.264)

Metadata

Model
gpt-5-mini
Short Digest
b3e7f4b1

Response Measures

None

Description

Articles describe the failure of the Guaranty Loan Company and appointment of the Minneapolis Trust Company as receiver; no run is mentioned. This is a suspension/closure leading to receivership and litigation (libel suit referencing receiver). Dates drawn from newspaper publication (receiver referenced by Dec 22, 1897).

Events (3)

1. December 22, 1897 Receivership
Newspaper Excerpt
The Minneapolis Trust pany was appointed receiver of the funct company and trustee of the lateral. In this collateral there $308,000 of bonds of the West Pullma: company, secured on lands in the of Chicagolands of considerable value (Saint Paul Globe, 1897-12-22).
Source
newspapers
2. December 22, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure of the Guaranty Loan Company and issues with held collateral (large Menage notes and West Pullman bonds); trustee/receiver appointed to administer collateral.
Newspaper Excerpt
The Minneapolis Trust pany was appointed receiver of the funct company and trustee of the lateral.
Source
newspapers
3. February 4, 1898 Other
Newspaper Excerpt
The article on which the indictment was based attacked the management of the Minneapolis Trust Company as receiver for the Guaranty Loan Company.
Source
newspapers

Newspaper Articles (7)

Article from The Saint Paul Globe, December 22, 1897

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Article Text

HART AFFIDAVIT JUDGE ELLIOTT ADMITS IT ENTIRE AND IT IS READ TO THE JURY. HATCH ON CRIMINAL HE GOES INTO THE WEST PULLMA DEAL AT SOME THE NO TIIH SAMULE Clear in His Answers-Says He Consulted Regarding the West Pullman Deal. The case of the state against W. Haskell, manager of the Times, libel, was well under way yesterday the defense introducing and reading the Hart affidavit, which was the lication commented upon in the objec tionable editorial. There was little jection by the state, except as to tain portions of it, which it thought was foreign to the subject The whole article went in, however and was read to the jury. Following this, Samuel Hill, presi dent of the Minneapolis Trust pany, was put on the stand by the fense and asked regarding his connec tion with the company, and especiall; his connection with the West Pullmar deal, about which all the troubl arose. Mr. Hill was clear in his swers, and appeared to be trying cover up nothing. He admitted tha he was consulted in regard to move in that matter when he was the city. What occurred out of city he did not know. The defense peared to have use for Mr. Hill showing from the records of the pany every move it made in the transaction, and when court adjourne at 5 o'clock he was still on the answering the questions of Mr. 'uos At the opening of the court Hatch, of Chicago, discussed the law lible. He said Mr. Haskell was trial exactly as though he were not publisher of a newspaper. Any perso who had taken the paper and circulate or called attention to the article equally guilty with Mr. Haskell. Hatch promised to prove that Mr. Has kell did not write the article in tion; that he knew nothing of it unti the noon of the day it was published The prosecution knew that and knev who published it. How under heaven he could be held for criminal libel der the circumstances was beyond planation. Taking up the facts in case Mr. Hatch reviewed the failure the Guaranty Loan company and holding of collateral in trust as guaran ties of the Menage notes amounting $1,000,000. The Minneapolis Trust pany was appointed receiver of the funct company and trustee of the lateral. In this collateral there $308,000 of bonds of the West Pullma: company, secured on lands in the of Chicago-lands of considerable value After the right of the trust compan to administer the collateral had litigated, the company set about posing of them. The West Pullma: company made offers to the trustee fo the bonds. In the meantime some them had been paid and the remaining total was $295,000. The trust company refused the offer of sixty cents on dollar, on the ground that the were worth more. About that time Hamblin, assistant secretary of company, evolved a scheme and East with it. Within forty-five day the after


Article from The Record-Union, February 5, 1898

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Article Text

# Not Guilty of Libel. MINNEAPOLIS, Feb. 4.-The jury in the criminal libel case against Colonel W. E. Haskell, manager of the "Times," has brought in a verdict of not guilty. The article on which the indictment was based attacked the management of the Minneapolis Trust Company as receiver for the Guaranty Loan Company.


Article from The Anaconda Standard, February 5, 1898

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Article Text

Colonel Haskell Acquitted. Minneapolis, Feb. I.-The jury in the criminal libel case against Colonel W. E. Haskell, manager of the Times, has brought in a verdict of not guilty. The article on which the indictment was based attacked the management of the Minneapolis Trust company as receiver of the Guaranty Loan company.


Article from Rock Island Argus, February 5, 1898

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Article Text

Editor Acquited of Libel. Minneapolis, Feb. 5.-The jury in the criminal libel case against Colonel W. E. Haskell, manager of The Times, brought in a verdict of not guilty. The article on which the indictment was based attached the management of the Minneapolis Trust company as receiver for the Guaranty Loan company.


Article from The Daily Morning Astorian, February 5, 1898

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Article Text

VERDICT OF NOT GUILTY / Minneapolis, Minn., Feb. t-The Jury in the criminal libel case against Col. W. E. Haskell, manager of the Times, has brought in a verdlet of not guilty. The article oct which the indictment was based attacked the management of the Minneapolla Trust Company as the receiver of the Guaranty Loan Company


Article from The Owosso Times, February 11, 1898

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Article Text

Editor Acquited of Libel. Minneapolis, Feb. 5.-The jury in the criminal libel case against Colonel W. E. Haskell, manager of The Times, brought in a verdict of not guilty. The article on which the indictment was based attached the management of the Minneapolis Trust company as receiver for the Guaranty Loan company.


Article from The Saint Paul Globe, May 22, 1898

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Article Text

Ask Receiver's Removal. The latest move in the war between the La Salle National bank, one of the creditors of the defunct Guaranty Loan company, and the Minneapolis Trust company, receiver, is an application by the former for the removal of the latter as receiver. The petition was filed with the clerk of court vesterday morning, and will probably be argued at special term next Saturday.