9762. Northwestern Guaranty Loan Company (Minneapolis, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 29, 1897
Location
Minneapolis, Minnesota (44.980, -93.264)

Metadata

Model
gpt-5-mini
Short Digest
be78194c

Response Measures

None

Description

Newspaper items indicate the Northwestern Guaranty Loan Company was insolvent and placed in the hands of the Minneapolis Trust Company as receiver; court sales of its assets were ordered and a receiver's estate report was filed. There is no mention of depositor runs in the provided articles, only receivership and asset liquidation, so this is classified as a suspension leading to closure/receivership. 'Loan Company' does not clearly indicate a national/state/trust charter, so bank_type set to unknown.

Events (4)
1. December 29, 1897 Other
Newspaper Excerpt
Minneapolis Trust company as receiver of the Northwestern Guaranty Loan company. Capt. Hart appeared ... objecting to the account of the Minneapolis Trust company as receiver of the Northwestern Guaranty Loan company.
Source
newspapers
2. February 14, 1898 Receivership
Newspaper Excerpt
Pursuant to an order made and entered on the 14th day of February, 1898, by the District Court of Hennepin County, Minnesota, in the matter of the Minneapolis Trust Company, as Receiver of the Northwestern Guaranty Loan Company, insolvent,
Source
newspapers
3. March 7, 1898 Other
Newspaper Excerpt
the Sheriff of Hennepin County ... will sell at Public Auction ... on Monday, the 7th day of March, 1898 ... the following described securities ... MINNEAPOLIS TRUST COMPANY, Trustee.
Source
newspapers
4. June 17, 1898 Other
Newspaper Excerpt
the Minneapolis Trust company, as receiver of the Northwestern Guaranty Loan company, has filed a report of the estate covering the period from Jan. 1, 1897, to May 31, 1898.
Source
newspapers

Newspaper Articles (4)
1. December 29, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 29, 1897

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Article Text

CLAIMS OF ASSIGNEES. Several Who Want an Adjustment of Fees. Judges Smith, Simpson, McGee and Lancaster occupied the bench in the main court room yesterday for the purpose of hearing the arguments and evidence in the applications for fees in eight assignments. This is the first sitting in which the new rule has been put into effect, which requires attorneys in assignments, and assignees, to appear before the full bench in support of their demands. Only two matters were heard in the morning, and both were taken under advisement. In the assignment of A. E. Horton the assignee had been unable to collect enough to pay the expenses and fees asked. There was about $600 short of paying the attorney and assignee. However, they were willing to take all they had, and give the court a quit claim. There were several attorneys present to object, who insisted that they should have a few dollars out of the $2,500 that was left. In the assignment of the M. D. Cox Furniture company, S. S. Kilvington has left it to the court as to what his fees shall be. His attorney, J. L. Dobbin, asked the court for $510 as his share, and there was no one present to object. However, it is the court that is doing the objecting now, and the matter was taken under advisement like the other one. John W. Arctander presented a bill for $3,385 for legal services in the case of Olson vs. the State Bank, after the entry of judgment. He had already been paid $6,500 in the matter. The report of Gen. Hahn, as receiver, was also submitted, and the court took the matter under advisement. Capt. Hart appeared with a request that he be allowed $2,000 for his work in objecting to the account of the Minneapolis Trust company as receiver of the Northwestern Guaranty Loan company. It was true that Judge Russell had denied the same petition, but Hart brought it again before the full bench. He claimed that he had saved the estate considerable money and was entitled to his fees. "The work that was done by Capt. Hart," said Col. Dodge, appearing for the Trust company, "was not of any great good to the estate. I think I give a summary of the records when I say that the various objections delayed the settlement of this estate fully two years, and cost the estate $6,000 in cash." The court took the matter under advisement, as in all the other cases. J. W. Cohen asked for $400 for fees in the assignment of Frudenfeld & Co., and a like amount for the assignee. Wadsworth Wadsworth wanted $2,000 in the Crittenden assignment, to which there was some objection. The court will pass upon all the matters later.

2. February 21, 1898 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, February 21, 1898

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Article Text

NOTICE OF SALE-Pursuant to an order made and entered on the 14th day of February, 1898. by the District Court of Hennepia County, Minnesota, in the maiter of the Minneapolis Trust Company, as Receiver of the Northwestern Guaranty Loan Company, insolvent, Plaintiffs, vs Louis F. Menage et al., Defendants, the Sheriff of Hennepin County, lanesoca, will sell at Public Auction to the highest bidder. at the main door or entrance, on 4th Street, of the County Court House in the City of Minneapolis, on Monday, the 7th day of March. 1898. at 10:00 o'clock of the forenoon of said date, the following described securities, co-wit: Bonds of the Chicago Dock and Investment Company, Nos. 327 & 334. of the face value of $50,000 each, total $100,000; Nos. 345 to& 348, of the face value of 200,000 each, tal $200,000; Nos. 309 to 314. inclusive, of the face value of $25,000 each, total $150,000; Nos. 290 to 299 inclusive, of the face valu of $10,000 each, $100,000; Nos. 270 to 274, of the face value of $5,000 each. $25,000: Nos 61 to 185, of the face value of $1,000 each, $125,000; in all a total of 150 bonds, of the face value of $700,000. Bonds of the Northwestern Trust Company. Nos. 1 to 75 inclusive, of the face value of $1,000 each. total $75,000; Nos 101 to 192 inclusive, of the face value of $1,000 each, total $92,000; Nos. 213 to 362 inclusive, of the face value of $500 each. total $75,000; in all a total of 317 bonds of the face value of $242,000. Stock Tilden Heater & Closet Company. Certificate No. 10, 10 shares of the par value of $100 each, and Certificate No. 11 for eleven shares of the par value of $100 each; total, 21 shares, of the par value of $2,100. Stock, Northern Car Company, Certificates 54 to 58, 10 shares each, of the par value of $5,000. Stock, Minneapolis Land & Investment Company, Certificates 5, 6. 67 to 76. total shares, par value $45,000. MINNEAPOLIS TRUST COMPANY, Trustee. NOTICE OF SALE-Pursuant to an order made and entered in the District Court of Hennepin County, Minnesota, on the 14th day of February, 1838, in the matter of the Minneapolis Trust Company, as Receiver for the Northwestern Guaranty Loan Company. insolvent, Plaintiffs, vs. Minnesota Agricultural Company et al., Defendants, the Sheriff of Hennepin County will sell at Public Auction to the highest bidder for cash, six (6) bonds of the Chicago Dock & Investment Company, numbers 328 to 333 inclusive, each of the face value of $50,000. or a total of $300,000. which said sale will take place at the 4th Street door or entrance of the County Court House in the CI of Minneapolis, Hennepin County, Minnesota, on Monday, the 7th day of March, 1898, at 10:00 o'clock in the forenoon of said date. POLIS TRUST COMPANY, Trustee. COMPOSITION-We are now prepared to do composition for the trade (any measare) in Nonparell, Minon, Brevier and Long Primer. Satisfaction guaranteed. Call or address Post-Intelligencer, Seattie. SPECIAL INFORMATION tntirere business houses and

3. February 24, 1898 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, February 24, 1898

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Article Text

NOTICE OF SALE-Pursuant to an order made and entered on the 14th day of February 1898, by the District Court of Hennepin County, Minnesota, in the matter of the Minneapolis Trust Company, as Receiver of the Northwestern Guaranty Loan Company, insolvent, Plaintiffs, VS. Louis F. Menage et al., Defendants, the Sheriff of Hennepin County, Minnesora, will sell at Public Auction to the highest bidder. at the main door or entrance, on 4th Street of the County Court House in the City of Minneapolis, on Monday. the 7th day of March, 1898, at 10:00 o'clock of the forenoon of said date, the following described securities, to-wit: Bonds of the Chicago Dock and Investment Company, Nos. 327 & 334, of the face value of $50,000 each, total $100,000; Nos. 345 & 348, of the face value of $100,000 each. total $200,000; Nos. 309 to 314. inclusive, of the face value of $25.000 each, total $150,000; Nos. 290 to 299 inclusive, of the face value of $10,000 each, $100,000; Nos. 270 to 274. of the face value of $5.000 each, $25,000 Nos. 61 to 185. of the face value of $1,000 each, $125,000 in all a total of 150 bonds, of the face value of $700,000. Bonds of the Northwestern Trust Company. Nos. 1 to 75 inclusive, of the face value of $1,000 each, total $75,000; Nos 101 to 192 inclusive, of the face value of $1,000 each. total $92,000 Nos 213 to 362 inclusive, of the face value of $500 each, total $75,000; in all a total of 317 bonds of the face value of $242,000. Stock Tilden Heater & Closet Company Certificate No. 10. 10 shares of the par value of $100 each. and Certificate No. 11 for eleven shares of the par value of $100 each: total, 21 shares, of the par value of $2,100. Stock. Northern Car Company Certificates 54 10 58. 10 shares each, of the par value of $6.000. Stock. Minneapolis Land & Investment Company Certificates 5. 6. 67 to 76, total 450 shares, par value $45,000. MINNEAPOLIS TRUST COMPANY Trustee. NOTICE OF SALE-Pursuant to an order made and entered in the District Court of Hennepin County Minnesota on the 14th day of February 1898. in the matter of the Minneapolls Trust Company AS Receiver for the Northwestern Guaranty Loan Company Insolvent, Plaintiffs, VS. Minnesota Agricultural Company et al., Defendants, the Sheriff of Hennepin County will sell at Public Auction to the highest bidder for cash. six (6) bonds of the Chicago Dock & Investment Company. numbers 338 to 333 inclusive, each of the face value of $50,000. or a total of $000,000. which said sale will take place at the 4th Street door or entrance of the County Court House in the City of Minneapoils, Hennepin County Minnesota on Monday the 7th day of March 1898 at 10:00 o'clock in the forenoon of said date. APOLIS TRUST COMPANY Trustee. SPECIAL NOTICE.- W. Mann and A. W. Home have sold their two-thirds interest in the steamer North Pacific to Capt. John Barneson, who will pay all bills and collect all money due. W. MANN A W. HORNE COMPOSITION-We are now prepared to do composition for the trade (any measure) in Nonpareil Minon Brevier and Long Primer. Satisfaction guaranteed. Call or address Post-Intelligetcer. Seastle SPECIAL INFORMATI manufacturers, business houses and public men by the Press Clipping Bureau (Allen's), room 42 McKay building. Portland Or UMBRELLA REPAIRING UMBRELLAS - Manufactured recovered and repaired: general repairing 213 Columbia street. Robeson Bros,

4. June 17, 1898 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, June 17, 1898

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Article Text

Pursuant to a recent order of the full bench the Minneapolis Trust company, as receiver of the Northwestern Guaranty Loan company, has filed a report of the estate covering the period from Jan. 1, 1897, to May 31, 1898. It is summarized as follows: