9761. Northwestern Guaranty Loan Company (Minneapolis, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 7, 1895
Location
Minneapolis, Minnesota (44.980, -93.264)

Metadata

Model
gpt-5-mini
Short Digest
9c3ad521

Response Measures

None

Description

Articles document the Northwestern Guaranty Loan Company as insolvent with the Minneapolis Trust Company acting as receiver and court-ordered sale/advertising of assets in 1896. No contemporaneous bank run or reopening is mentioned; the bank is in receivership and assets are being sold, consistent with permanent closure/receivership.

Events (3)
1. August 7, 1895 Receivership
Newspaper Excerpt
The trouble which has been brewing ... between Attorney W. E. Hale and the receiver of the Northwestern Guaranty Loan company, the Minneapolis Trust company, was aired yesterday all day in the district court.
Source
newspapers
2. April 1, 1896 Other
Newspaper Excerpt
the undersigned, Receiver of the Northwestern Guaranty Loan Company, insolvent, was duly authorized and directed to advertise for bids for the whole or any part of the property remaining in its possession and control, assets of the estate of the Northwestern Guaranty Loan Company, insolvent, not disposed ofconsisting of real estate and personal propertydescribed as to character, location and par value in Schedule A Guaranty Loan Company Assets.
Source
newspapers
3. May 9, 1896 Other
Newspaper Excerpt
Said bids are to be opened, considered and approved or disapproved by said District Court at a Special Term thereof to be holden at the Court House in said city of Minneapolis, May 9th, 1896, at 9 o'clock a. m.
Source
newspapers

Newspaper Articles (10)
1. August 7, 1895 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 7, 1895

Click image to open full size in new tab

Article Text

ROW H NI LAMYERS ATTORNEY HALE'S LITTLE BILL JO SLOT CHEVRING SI FUN. A MEETING OF THE BENCH HEARS THAT SUITS WILL NOW BE BEGUN AGAINST STOCKHOLDERS IN LOUIS F. MENAGE'S CONCERN. The Receiver's Bulky Report Objected To by Some Creditors. The trouble which has been brewing between Attorney W. E. Hale and the receiver of the Northwestern Guaranty Loan company, the Minneapolis Trust company, was aired yesterday all day in the district court. It was considered of SO much importance that all of the members of the bench in the city, Judges Russell, Pond and Belden, sat to hear the arguments. In addition nearly half of the prominent members of the bar in the city were present either as counsel for the creditors of the defunct concern or as witnesses. The first speaker following the opening of the court was Col. Ripley, who maintained that no money should be paid over to the receiver trust company at this time. There was but a small amount on hand, and that should be kept for any exigency which might arise. Col. W. E. Dodge called the colonel to order, and suggested that his report was the first thing on the programme. He asked first that the court pass upon the receivership claims in order that the trust company might know exactly what it was to receive for its services. He added that there would be $20,000 more on hand than was included in the report. MR. HALE'S STATEMENT. At this juncture in the proceedings Attorney Hale interposed: "Before proceeding further I wish to make a statement in justice to my position as an officer of the court. "The receiver is an officer of this court. I began to be counsel at the appointment, and I have had charge of all the matters connected with this receivership. I have given my entire time for the past two years to that work, and I have heard no complaint but what I have done my duty. Regarding my removal, reports soon get abroad that it was because of unprofessional conduct on my part. I have practiced law in this state for years, and was never charged with such a thing until the executive committee of this trust company made it." Mr. Hale, continuing, went into details regarding his fees, and his correspondence with Charles N. Hamblin. "I got this letter from the board," he said, "stating that my conduct in not presenting to them my bill for allowance was in a degree unprofessional. I considered it, in black and white, a libel and a slander. I waited until I cooled off, and I wrote a letter to them." Mr. Hale said that he replied with a rather pacific letter in which he denied the charge, saying that it was false and malicious. He thought the whole action very peculiar in view of the fact that the Minneapolis Trust company had been made receiver upon the express condition

2. March 28, 1896 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 28, 1896

Click image to open full size in new tab

Article Text

RESIDENT MEMBERS LIABLE. Decision in the Northwestern Guaranty Loan Case. Judge Elliott has filed his decision in the case of Arthur B. Rogers against the Minneapolis Trust company, as receiver, and the stockholders of the Northwestern Guaranty Loan company. The action was brought to enforce the liability of the four hundred and odd stockholders of the bankrupt organizafor tion the $2,548,689.29 of claims liable to be paid from a fund which might be raised in such a manner. The action was tried in July last, and was quite extensively argued by counsel, the main question raised by the opposition being one of jurisdiction. The court in its decision holds that no service was secured upon the non-resident stockholders, hence no decision as to them can be made in the action. The court, however, finds that the following resident stockholders have been regularly served with complaints, and are liable for the following amounts of stock: Ben S. Benton, $2,000; F. R. Chase, $16,000; William G. Crocker, $13,100; N. Stafford Coffin, $1,000; Carrie L. Dean, $8,000; Alfred J. Dean, $700; Elizabeth Dean, $200; William E. Dean, $200; George F. Dean, $200; Loren Fletcher & Co., $1,000; Curtis H. Pettit, $1,000; George A. Pillsbury, $1,000; George C. Ripley, $1,000; Florence P. Robinson, $1,000; Thomas Lowry, $10,000; W. S. Streeter, as trustee, $4,000; W. S. Streeter, $2,000; W. D. Washburn, $1,000. Louis F. Menage, who held $230,800 of stock, not being a resident of the state of Minnesota at the time of the lodging of the action, escapes a judgment for that amount. The court continues the case to the next term calendar in order to determine the amount of the shortage and ascertain what percentage each will be obl. 1 to pay.

3. April 2, 1896 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, April 2, 1896

Click image to open full size in new tab

Article Text

Sell Guaranty Loan Assets. MINNEAPOLIS, April 2.-Judge Russell of the district court has issued an order to the Minneapolis Trust company as receiver for the Northwestern Guaranty Loan company to advertise for bids for the entire assets of the Menage and the Guaranty Loan insolvent estates.

4. April 8, 1896 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, April 8, 1896

Click image to open full size in new tab

Article Text

THE BEST IN EVERY RESPECT MARCH, GOPHER, SUMMIT. F. SMITH & BRO., 395 WABASHA STREET. STATE OF MINNESOTA, COUNTY OF HENnepin-In District Court, Fourth Judicial District. In the matter of the receivership . of the Northwestern Guaranty Loan Company, insolvent. REQUEST FOR BIDS. To the Creditors of the Northwestern Guaranty Loan Company, insolvent, and to whom it may concern: Whereas, by virtue of an order of the District Court of Hennepin County, Minnesota, made and filed on Tuesday, the 31st day of March, 1896, the undersigned, Receiver of the Northwestern Guaranty Loan Company, insolvent, was duly authorized and directed to advertise for bids for the whole or any part of the property remaining in its possession and control, assets of the estate of the Northwestern Guaranty Loan Company, insolvent, not disposed of-consisting of real estate and personal property-described as to character, location and par value in Schedule "A""Guaranty Loan Company Assets," hereunto annexed and made a part of this notice pursuant to said order: Now, Therefore, Notice Is Hereby Given that all persons desiring to purchase said property, or any specific part, parcel or portion thereof, are hereby requested to file a bid or bids in writing for the purchase of said property, or such part, parcel or portion thereof as they may desire to purchase, with the undersigned Receiver at its office, in the city of Minneapolis, county and state aforesaid, on or before Saturday, May 2nd, 1896, at 5 o'clock p. m. Said bids are to be opened, considered and approved or disapproved by said District Court at a Special Term thereof to be holden at the Court Hsuse in said city of Minneapolis, May 9th, 1896, at 9 o'clock a. m. Each bid so filed must be accompanied, when filed, by cash or a certified check equal in amount to 5 per cent of the amount of such bid as a guarantee of good faith and the consummation of such purchase as the Court may approve. All bids for the whole or any part of said property must be for cash, and all payments made in cash, unless otherwise ordered by the Court. Dated this 1st day of April, A. D. 1896. MINNEAPOLIS TRUST COMPANY, As Receiver for the Northwestern Guaranty Loan Company. By ROBT. W. WEBB, Assistant Secretary. W. E. Dodge, Attorney for Receiver, Minneapolis, Minn.

5. April 8, 1896 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, April 8, 1896

Click image to open full size in new tab

Article Text

STATE OF MINNESOTA, COUNTY OF HENnepin-In District Court, Fourth Judicial District. Minneapolis Trust Company, as Receiver of the Northwestern Guaranty Loan Company, Plaintiff, vs. Louis F. Menage; St. Paul & Minneapolis Trust Company, as Receiver of Louis F. Menage, Insolvent; Northwestern Guaranty Loan Company; G. S. Lacy; First National Bank of Athens, Pennsylvania, et al., Defendants.

6. April 9, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, April 9, 1896

Click image to open full size in new tab

Article Text

STATE OF MINNESOTA, COUNTY OF Hennepin. In district court. Fourth judicial district. Minneapolis Trust Company, as receiver of the Northwestern Guaranty Loan Company, plaintiff, vs. Louis F. Menage, St. Paul and Minnespolls Trust Company. as receiver of Louis F. Menage, Insolvent: Northwestern Guaranty Loan Company, G. S. Lacy, First National Bank of Athens, Fennsylvania et al., defendants. Request for Bids. To the defendants In the above entitled action. and to whom It may concern: Whereas. by virtue of an order of the district court. Hennepin county, Minnegota, made and filed on Tuesday, March 21st, 1896, the undersigned trustee of the so-called "Menage collaterals," held for the benefit of the defendants in the above entitled action, was duly authorized and directed to advertise for bids for the whole or any part of the property remainIng in its possession and control as such trustee, not disposed of and described as follows, to-wit: Stock of the Minneapolis Loan and Investment Company, par value $ 45,000.00 Stock of the Northwestern Knit4,100 00 ting Company. par value Stock of the Tilden Heater and 2,100 00 Closet Company, par value Stock of the Northern Car Com5,000 pany. par value Stock of the Minneapolis Knit8,000 00 ting Works, par value Bonds of the Minneapolis Club, 8,000 par value Bonds of the Northwestern Trust 262,500 00 Company, par value Bonds of the Great Falls Street 15,000 00 Railway, par value Bonds of the Chicago Dock and Investment Company, par value 700,000 00 Now, therefore, notice is hereby given that all persons desiring to purchase said property. or any specific part thereof, are hereby requested to file a bid or bids in writing for the purchase of said property. or such part thereof as they may desire to purchase with the undersigned trustee at Its office in the city of Minneapolis, county and state above named, on or before Saturday, May 2nd, 1896, at 5 o'clock p. m. Said bids are to be opened, considered, approved or disapproved by said district court at a special term thereof to be holden at the courthouse in said city of Minneapolis, May 9th. 1896, at 9 o'clock 3. m. Each bid so filed must be accompanied, when filed. by cash or a certified check equal in amount to 8 per cent. of the amount of such bid as a guarantee of good faith and the consummation of such, purchase as the court may approve. All bids for the whole or any part of such property must be for cash. and all payments made in cash unless otherwise ordered by the court. Dated this 1st dav of April. 1896. MINNEAPOLIS TRUST COMPANY, Trustee. By ROBT W. WERB, Assistant Secretary. W. E. Dodge, Attorney for Trustee.

7. April 11, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, April 11, 1896

Click image to open full size in new tab

Article Text

LEGAL NOTICES. STATE OF MINNESOTA, COUNTY OF Hennepin. In district court Fourth judiclal district. In the matter of the receivership of the Northwestern Guaranty Loan Company, insolvent. Request for bids. To the Creditors of the Northwestern Guaranty Loan Company. Insolvent, and to Whom It May Concern. Whereas, by virtue of an order of the district court of Hennepin county, Minnesota, made and filed on Tuesday the 31st day of March, 1896, the undersigned, receiver of, the Northwestern Guaranty Loan Company, insolvent, was duly authorized and directed to advertise for bids for the whole or any part of the property remaining in its possession and control, assets of the estate of the Northwestern Guaranty Loan Company, insolvent, not disposed of, consisting of real estate and personal property, described as to character, location and par value in schedule "A," "Guaranty Loan Company Assets," hereunto annexed and made a part of this notice pursuant to said order: Now, therefore, notice is hereby given that all persons desiring to purchase caid property or any specific part, parcel or portion thereof, are hereby requested to file a bid or bids in writing. for the purchase of said property, or such part, parcel or portion thereof as they may desire to purchase, with the undersigned receiver at its office in the city of Minneapolis, county and state aforesald, on or before Saturday. May 2, 1896, at 5 o'clock p. m. Said bids are to be opened. considered and approved or disapproved by said district court at a special term thereof to be holden at the court house in said city of Minneapolis, May 9, 1896. at 9 o'clock a. m. Each bid so filed must be accompanied, when filed, by cash or a certified check equal in amount to 5 per cent. of the amount of such bid as a guarantee of good faith and the consummation of such purchase as the court may approve. All bids for the whole or any part of said property must be for cash, and all payments made in cash, unless otherwise ordered by the court. Dated this 1st day of April, A, D. 1896. MINNEAPOLIS TRUST COMPANY, As Receiver for the Northwestern Guaranty Loan Company, By ROBT. W. WEBB, Assistant Secretary. W. E. DODGE. Attorney for Receiver, Minneapolis, Minn.

8. April 15, 1896 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, April 15, 1896

Click image to open full size in new tab

Article Text

STATE OF MINNESOTA, COUNTY OF HEN+ nepin-In District Court, Fourth Judicial District. Minneapolis Trust Company, as Receiver of the Northwestern Guaranty Loan Company, Plaintiff, vs. Louis F. Menage; St. Paul Minneapolis Trust Company, as Receiver of Louis F. Menage, Insolvent; Northwestern Guaranty Loan Company; G. S. Lacy; First National Bank of Athens, Pennsylvania, et al., Defendants.

9. April 18, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, April 18, 1896

Click image to open full size in new tab

Article Text

LEGAL NOTICES. STATE OF Hennepin. MINNESOTA,COUNTI cial district. In the matter of the ceivership of the Northwestern anty Loan Company, insolvent. for bids. To the Creditors of the North Guaranty Loan Company, Insolvent. to Whom It May Concern. Whereas, by virtue of an order of district court of Hennepin county, sota, made and filed ceiver of the day of March, Northwestern.Com Loan Company, insolvent, was duly thorized and directed to advertise for for the whole or any part of the pro remaining in its possession and assets of the estate of the Northw Guaranty Loan Company, insolvent. disposed of, consisting of real estate personal property, described as to char ter, location and par value in "A." "Guaranty Loan Company hereunto annexed and made a part this notice pursuant to said order: Now, therefore, notice is hereby that all persons desiring to purchase property or any specific part, parcel portion thereof, are hereby requested file a bid or bids in writing, for the chase of said property, or such part. cel or portion thereof as they may to purchase, with the undersigned ceiver at its office in the city of Minn olis, county and state aforesaid, on or fore Saturday. May 2, 1896, at 5 o'clock m. Said bids are to be opened. consid and approved or disapproved by said trict court at a special term thereof to holden at the court house in said city Minneapolis, May 9, 1896, at 9 e'clock Each bid so filed must be accompash a when filed, by cash or a certified equal in amount to 5 per cent. of amount of such bid as a guarantee good falth and the consummation of purchase as the court may approve. All bids for the whole or any part said property must be for cash, and payments made in cash. unless oth ordered by the court. Dated this 1st day of April. A. D. MINNEAPOLIS TRUST COMPANY, As Receiver for the Northwestern anty Loan Company, By ROBT. W. WEBB, Assistant Secretary. W. E. DODGE. Attorney for Receiver, Minneapolis, Minn.

10. April 22, 1896 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, April 22, 1896

Click image to open full size in new tab

Article Text

STATE OF MINNESOTA, COUNTY OF HEN. nepin-In District Court, Fourth Judicial District. Minneapolis Trust Company, as Receiver of the Northwestern Guaranty Loan Company Plaintiff, vs. Louis F. Menage; St. Paul & Minneapolis Trust Company, as Receiver of Louis F. Menage, Insolvent; Northwestern Guaranty Loan Company; G. S. Lacy; First National Bank of Athens, Pennsylvania, et al., Defendants. REQUEST FOR BIDS. To the Defendants in the above entitled a.Co tion, and to whom it may concern: Whereas, by virtue of an order of the District Court, Hennepin County, Minnesota, made and filed on Tuesday, March 31st, 1896, the undersigned Trustee of the so-called "Menage Collaterals," held for the benefit of the defendants in the above entitled action, was duly authorized and directed to advertise for bids for the whole or any part of the property remaining in its possession and control as such Trustee, not disposed of, and described as follows, to-wit: Stock of the Minneapolis Land and Investment Co., par value $45,000.00 Stock of the Northwestern Knitting 4,100.00 Co., par value Stock of the Tilden Heater and Closet Co., par value 2,100.00 Stock of the Northern Car Co., par value 5,000.00 Stock of the Minneapolis Knitting Works, par value 8,000.00 Bonds of the Minneapolis Club, par value 8,000.00 Bonds of the Northwestern Trust 262,500.00 Company, par value Bonds of the Great Falls Street Rail15,000.00 way, par value Bonds of the Chicago Dock and Investment Co., par value 700,000.00 Now, therefore, notice is hereby given that all persons desiring to purchase said property, or any specific part thereof, are hereby requested to file a bid or bids in writing for the purchase of said property, or such part thereof as they may desire to purchase, with the undersigned Trustee, at its office, in the city of Minneapolis, county and state above named, on or before Saturday, May 2nd, 1896, at 5 o'clock p. m. Said bids are to be opened, considered, approved or disapproved by said District Court at a special term thereof to be holden at the Court House, in sald city of Minneapolis, May 9th, 1896, at 9 o'clock a. m. Each bid so filed must be accompanied when filed, by cash or a certified check equal in amount to 5 per cent of the amount of such bid as a guarantee of good faith and the consummation of such purchase as the Court may approve. All bids for the whole or any part of such property must be for cash, and all payments made in cash unless otherwise ordered by the Court. Dated this 1st day of April, 1896. MINNEAPOLIS TRUST COMPANY, Trustee. By ROBT. W. WEBB, Assistant Secretary, W. E. DODGE, Attorney for Trustee.