9740. Hennepin County Savings Bank (Minneapolis, MN)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
December 30, 1896
Location
Minneapolis, Minnesota (44.980, -93.264)

Metadata

Model
gpt-5-mini
Short Digest
9db69ab9

Response Measures

None

Description

Multiple contemporary newspaper reports (Dec 30, 1896) describe a slight run on Hennepin County Savings Bank tied to runs and a suspension at other Minneapolis banks (Farmers & Mechanics, Bankers' Exchange). No article reports a suspension, receivership, reopening, or closure for Hennepin County Savings Bank — only a 'slight run'.

Events (1)

1. December 30, 1896 Run
Cause
Local Banks
Cause Details
Minor withdrawals triggered by runs and a suspension at other Minneapolis banks (Farmers & Mechanics' Bank and Bankers' Exchange Bank).
Newspaper Excerpt
There is also a slight run on the Hennepin County Savings Bank. It has deposits of $1,200,000.
Source
newspapers

Newspaper Articles (5)

Article from Alexandria Gazette, December 30, 1896

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Article Text

Bank Failures. MINNEAPOLIS, Minn., Dec. 30.-The Bankers' Exchange Bank suspended payment to-day. It is a small concern, and its officers claim that they have money enough to pay every depositor and stockholder. The Northwestern Loan and Building Association to-day made an application Ifor the appointment of a receiver for the Northern Trust Company, of this city, alleging that it is insolvent. Its capital is $500,000 with a guaranty fund of $100,000. Its liabilities are said to be about $500,000. The run on the Farmers' and Mechanics' Bank continues this mording. The bank has taken advantage of the rule which enables it to demand sixty days' notice before paying a depositor. There is also a slight run on the Hennepin County Savings Bank. It has deposits of $1,200,000.


Article from The Daily Morning Journal and Courier, December 31, 1896

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Article Text

Run on Two Banks. Minneapolis, Minn., Dec. 30.-The run on the Farmers' and Mechanics' bank continued to-day. The bank has taken advantage of the rule which enables it to demand sixty days' notice before paying a depositor. There is also a slight run on the Hennepin County savings bank. It had deposits of $1,200,000.


Article from The Scranton Tribune, December 31, 1896

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Article Text

ALL DEMANDS PAID. Runs on Minnesota Banks Fail to Cause a Panic. Minneapolis, Minn., Dec. 30.-The run on the Farmers and Mechanics' bank continued this morning. The bank took advantage of the rule which enables it to demand sixty days' notice before paying a deposit. There was also a slight run on the Hennepin County Savings bank. It has deposits of $1,200,000. There was a heavy run on the St. Anthony Falls bank this forenoon. All demands were paid and the excitement quieted down.


Article from Marietta Daily Leader, December 31, 1896

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Article Text

CONDENSED NEWS Gathered From All Parts of the Globe by Telegraph. Joseph Barbot, the French tenor, died in Paris. He was born in 1824. Halanzier-Dufresnoy, formerly director of the Paris opera, is dead. He was born in 1819. Hon. Edward Avery, for many years a prominent democrat in state politics, died Tuesday morning in Boston. Isaac Prager & Sons, extensive retail dry goods dealers of Parkersburg, W. Va., have made an assignment. Assets and liabilities are estimated at $100,000. The President Tuesday amended the civil service rules so as to include in this service all employes of government penitentiaries in theUnited States which are subject to classification. John Pagan, a wealthy citizen of Yonkers, N. Y., committed suicide Tuesday morning by shooting himself. He was a prominent leader of the prohibition party in West Chester county. At Minneapolis, Minn., the Bankers' Exchange bank suspended payment Wednesday. It is a small concern and its officers claim that they have money enough to pay every depositor and stockholder. When the protocol is signed by Sir Julian Pauncefote and Senor Andrade, the representatives of Great Britain and Venezuela, diplomatic relations between Venezuela and Great Britain will be again resumed. A special from Galveston, Tex., states that 1,000 or more persons in that city are suffering from la grippe, which has been epidemic for nearly two weeks. Every physician in the city is overrun with patients, and druggists are busy night and day filling prescriptions. Senator Dubois, of Idaho, has left Washington for his state to look after his interests in the coming senatorial election. An interesting fact connected with the departure of Senator Dubois is said to be that he will have the support of the democratic party in his fight for re-election. At the state department it is declared that there has been no substantial alteration whatever in the international aspect of the Cuban question since President Cleveland wrote his reference to the matter in his annual message of December 7. It is believed the death of Maceo may have simplified the problem. The run on the Farmers' and Mechanics' bank, at Minneapolis, continues Wednesday morning. The bank has taken advantage of the rule which enables it to demand 60 days' notice before paying a depositor. There is also a slight run on the Hennepin County saving bank. It has deposits of $1,200,000. The Commercial bank of Selma, Ala., (a state institution), failed to open its doors Wednesday morning and soon afterwards it was announced that it had assigned. The local depositors agreed to an extension, but it is understood that several New York banks, which were creditors in large sums, would not agree and hence the assignment. The Northwestern Loan and Building association Wednesday made ap. plication for the appointment of a receiver for the Northern Trust Co. of Minneapolis, Minn., alleging that it is insolvent. The matter was put over until January 7, but the court issued an order restraining the defendant from paying out any more money before that time. A severe famine is reported from western China. It is particularly severe in the city of Chauntung, in Szecheun province, where there has been a prolonged rain, causing foods which have spread over vast areas of country, destroying almost the entire rice and vegetable crops. The inhabitants are dying by scores from starvation, and to add to the horror of it, a large por-


Article from Staunton Spectator and Vindicator, January 7, 1897

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Article Text

Bank Failures. The Bankers' Bank of Minneapolis, suspended payment Dec. 30. It is a small concern, and its officers claim that they have money enough to pay every depositor and stockholder. The Northwestern Loan and Build ing Association of the same place on the same day, made an application for the appointment of a receiver for the Northern Trust Company, of that city, alleging that it is insolvent. Its capi tal is $500,000 with a guaranty fund of $100,000. Its liabilities are said to be about $500,000. The run on the Farmers' and Me chanics' Bank continued. The bank has taken advantage of the rule which enables in to demand sixty days' notice before paying a depositor. There is also a slight run on the Hennepin County Savings Bank. It has deposits of $1,200,000. The Commercial Bank of Selma, Alaband. failed last week for $300,000. The Atlas Bank of Chicago closed its doors last week, but is now paying off its depositors in full and will close without loss to stockholders. The Bank of Superior, in Wisconsin, owing to a run on its deposits, made an assignment last week. The failure of the Mortgage and Trust Company in Dallas, Texas, will cause the suspension of several sub companies. The assets are said to be tied up in mortgages that cannot be realized upon. Out of the thirteen banks in Superior, Wis, which were doing business a year ago, only four are in business at the present time. A plan is on foot to reorganize and consolidate all the various banks into one large institution with a capital stock of $1,500,000.