Article Text
Bank Suspends. MORRIS, Minn., March 30.-The First national bank of this city . suspended 10-day.
9814. First National Bank (Morris, MN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 2933
- Charter Number
- 2933
- Start Date
- March 30, 1896
- Location
- Morris, Minnesota (45.586, -95.914)
Metadata
- Model
- gpt-5-mini
- Short Digest
7e741f9f
Response Measures
None
Description
Multiple contemporaneous newspapers report the First National Bank of Morris, MN suspended on March 30, 1896. Articles state the bank was known to be in a 'shaky' or 'embarrassed' condition, an examiner was placed in charge, and liquidation was anticipated — indicating suspension due to adverse bank-specific condition and likely permanent closure.
Events (3)
1.
April 24, 1883
Chartered
- Source
- historical_nic
2.
March 30, 1896
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank long known to be in a shaky/embarrassed financial condition; examiner placed in charge; liquidation anticipated; liabilities exceeded capital per reports (capital $50,000; liabilities ~ $100,500).
- Newspaper Excerpt
- MORRIS, Minn., March 30.-The First national bank of this city suspended 10-day.
- Source
- newspapers
3.
May 26, 1896
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (10)
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Article Text
NEWS NUGGETS. Brought by the Wires from the North. East. South and West. The annual city election was held at Danbury, Ct., Monday, and resulted in a victory for the Republicans, they gaining one aldermen and two councilmen. The First National Bank of Morris, Minn., closed its doors, Monday. The bank had a capital of $50,000: and the liabilities are estimated at $100,500. All three of S. H. Howe Shoe Co.'s factories at Marlboro, Mass., started up on the 10 hour schedule, Monday. All the shops in the city, excepting one, are now running on full time. Part of the crew of the Portland brig Hattie M. Bain, Capt. Gross, lost at sea, Feb. 11, in lat. 37.09; lon. 62.07, arrived at New York, Monday, having been picked up at sea, and brought home. The building at 338 to 354 Wabash avenue, Chicago, occupied by the Davis and White Sewing Machine Cos.; Dayton Bicycle Co.; Oxford Merchandise Co. and other firms, was burned Monday, Loss, $80,000; insurance, $55,000. The 10-round bout between Frank Erne of Buffalo, and Jack Downey of Brooklyn, before the Empire Athletic Club, Maspeth. L. I., Monday night. resulted in a draw. Leeds was knocked out by Everhardt in the 15th round. Schooner Belle Hardy. before reported ashore on Norton's Shoals, in the Vineyard, ran ashore at 3 P. M.. Sunday, during a thick southeast storm She has a cargo of plaster. The Boston Tow Boat Co. with make an effort to save her. Lord Gifford, director of the British South Africa Co., received a cable dispatch at London, Monday, from Buluwayo, dated Sunday, saying the situation there is very serious. A laager for the defence of the people has been constructed. All mining operations have been suspended. The Park Congregational church of Hartford. Ct., has extended a call to Rev. W. W. Ranney. and Mr. Ranney accepted. He is a graduate of Williams college, class of '85, and Andover Theological seminary, and has been prominent in Y. M. C. A. work and missionary work in Maine. The stockholders of the Brockton Base Ball Association met at Brockton, Mass., Monday and elected the following directors: Horace A. Keith, Wm. B. Foster, John P. Morse. Frank E. Packard was elected secretary and treasurer. The directers elected Horace A. Keith president, and Wm. B. Foster vice president. Fifty-six weavers at the Boston Manufacturing Co's. mill at Waltham, Mass., went on strike, Monday. The strikers claim that the company wants them to do more work for less money, and they were introducing work on woolen goods at the same price. A committee was appointed to confer with the mill officials. The first game in the series of the international billiards tournament for a purse of $2000, was played Monday night. in Concert hall of the Madison Square Garden. New York, between AI-
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Morris, Minn., March 30.-The First National Bank of this place suspended this morning. Depositors will be paid in full.
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Morris. Mian., March 30.-The First Na. tional bank of this place suspended this morning. Depositors will be paid in full.
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MORRIS BANK CLOSED. Its Shady Condition No Surprise to Business Men. Special to the Globe. MORRIS, Minn., March 30.-The suspension of the First National Bank of Morris, which occurred today, did not cause much excitement, for the bank was known to be in a shaky financial condition, and hence the failure was not wholly a surprise. The capital of the bank was $50,000; H. S. Judson, president, and L. O. Hollister, cashier, the principal stockholder being the Travelers' Insurance company. The state, county and village had funds on deposit aggregating about $15,000, but the bondsmen are responsible if called upon to make good any loss. The individual losses in any case are not large. National Bank Examiner C. H. Brush is here, and will make a right examination. and it is thought that, unless the stockholders come to the rescue, the bank will go into liquidation. The examiner will not give any information at present, and consequently no facts as to assets or liabilities is obtainable, but the general impression is that the bank's affairs are in bad shape. The failure has caused no run on the Stevens County bank whatever.
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Minnesota Bank Suspends. WASHINGTON, April 1.-The comptroller of the currency has received a telegram announcing the suspension of the First National bank of Morris, Minn. Bank Examiner Brush has been placed in charge.
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Morris Bank Suspended. The First National Bank of Morris has suspended. The following telegram under date of Monday, tells the story: This community has had an exciting day owing to the suspension of the First National bank, of which H. S. Judson is president and L. O. Hollister cashier. The bank has a capital of $50,000, and National Bank Examiner Brush is in charge. A notice posted on the door, signed by the cashier, announces that the bank has suspended payments and states thatanew bank with new capital and competent management will soon occupy the premises, and that depositors will be paid in full. The suspension was not unexpected, as the bank was kno wn to be embarrassed, but much inconvenience will result from its failure, and if reports are true there will be some who will feel-the results ot the collapse very seriouslv. The bank had about $5,000 state funds on deposit, $8,000 county money and $16,000 of village funds, but the bonds are supposed to be ample for the protection of these deposits. There has been no panicky feeling. The failure, it is feared, is a serious one, but the examiner can give no information until the bank's affairs haye been thoroaghly investigated. It is hardly possible the bank will resume, although every effort is being made to get the stockholders to come to to the rescue.
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A Morris Suspension. Morris, Minn., April 1. - The First National bank of this place suspended payment this morning. The examiner is in charge. Depositors will be paid in full.
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Minnesota Bank Suspended. Morris, Minn., March 30.-The First National bank of this place suspended this morning. The depositors will be paid in full.
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Mar. 9.-Sherman county, Goodland, Kan. Bloomfield (Neb.) State Commercial and Savings, San Jose, Cal. Mar 27-Midway (Ky.) Deposit. Mar 30-First national, Morris, Minn. Apr. 4--Farmers', Decatur, III. Apr 11-Chadron (Neb.) Banking Co. Apr. 16-First national, and Liberty savings. Bedford City, Pa. Apr. 22-American national, Denver, Col., $865,231. Apr. 24-Grand Forks (N. D.) national May 1-City savings, Hot Springs, Ark.... Bank of Fairland, III. May 7-Citizens', Union City, Ind. May 14-Sumner national, Wellington, Kan May 19-Citizens', Edwardsburg, Mich. May 26-National, Jefferson. Tex. May 28-Bank of New England, Manchester, N H. June 2-Bank of Maroa, Ill. June 3-Farmers' deposit, Creighton, Mo. June 11-John A. Thompson's bank, Edinburg. Ind First national. Larned, Kan. June 16-First national, and Bank of Cheney Cheney, Wash. June 25-Security savings, Winchester, N. Hinsdale (N. H.) savings. H July 13-Peot It's savings. Lansing, Mich. July 16-First national, Hillsboro, O. July 23-German savings, Omaha July 27-Farmers' bank, Rock Valley, Ia. July 29-Denison (O.) deposit. Aug. 6-American national, New Orleans Conkling Bros, Nevada (Mo.) bankers Banks at Bronaugh and Richards, Mo. Aug. 7-Lake county, East Chicago, Ind. Inghar: county savings, Lansing, Mich. Aug. 11-Security, Duluth, Minn.: $800,000 Murray Hill, New York, $500,000. Aug 12-Bank at National City, Col. Aug 14-State bank. Peru, Ill. Aug 19-Bank of Argentine, Kan. Aug. 21-Bank of Wymore, Neb. Aug 24-Church & Son's state bank at Lowell, Mich Aug. 28-Sioux national, Sioux City, Ia., $900.000 Sept 1-First national, Beatrice. Neb. Sept 2-Manufacturers' bank, West DuJuth, Minn State Loan & Trust Co. bank. Ogalalla, Neb. Sept. 4-First national. Helena, Mont. Sept. 5-Jackson county, Black River Falls, Wis. Sept. 10-Mutual national, New Orleans. Sept. 11-Bankof Commerce, New Orleans. Sept. 14-Bennett national, New Whatcom. Wash Sept. 16-Midland state, Omaha, Neb. Sept 17-Shellsburg (Wis.) bank. Sept. 19-National, Troy, N. Y.; $449,000. Sept. 22-Pawnee (III.) bank. Sept. 23-Mapleton (Minn.) bank. Sept. 25-Argonia (Kan.) state bank. Sent. 26-Tribune (Kan.) bank. Oct. 5-First national, Mount Pleasant, Mich Oct. 7-First national, Ithaca, Mich. Oct. 10-Security Trust Co., Nashua, N. H. Oct. 12-First national, Eddy. N. M. Oct. 14-Marine national, Duluth, Minn Second national, Rockford, Ill Bank of Commerce. Buffalo, N. Y. Bank Oct. 16-Merchant's, Atlanta, Ga of Pukwana, S. D. Oct. 19-Marion (0.) Deposit. Oct. 28-At Big Rapids, Mich., Mecosta savings. Nov. 5-Marine national, Duluth, Minn. Nov. 10-Iowa savings, Sloux City First national, Decorah, la. Nov. 14-La Harpe (III.) bank. Nov 19-First national, Sioux City, Ia Sioux City, Ia. Nov. 22-First national, East Saginaw Mich. Nov. 23-Dakota national, Sloux Falls, S D. Nov. 24-Davis County Savings associa tion Gallatin, Mo. Nov. 28-Citizens' bank, Midlothian, Tex Mis Nov. 30-First national, Tyler, Tex souri national. Kansas City: $1,131,000. Dec. 1-German-American, Portage, Wis Bank of Westport, Mo. Dec. 5-Baxter, of Baxter Springs, Kar Henry county, at Clinton, Mo. Dec. 10-Harlan (Ia.) state Jonatha Easterly, Columbiana (O.) bankers. Dec. 11-National Bank of Commerce Duluth, Minn First national, Niagara N.Y. Dec. 14-First national. Holidaysburg Pa Banks at Martinsburg and William burg, Pa. Dec. -National bank of Illinois, at Ch cago-E. S. Dreyer & Co., Chicago, $1,200,80 Wasmansdorff, Heinemann & Co. Dec. 22-Bank of Minnesota, and Unio stockyards bank, at St. Paul. Dec. 23-Bank of West Superior, Wis American Banking & Trust Co., Aubur Me. Dec. 24-Calumet state bank, Blue Islan III. Dec. 26-Security Mortgage & Trust Co Dallas, Tex.: $2,000,000-Atlas national, Ch cago. Dec. 28-Bank of Superior. Wis Sca dia, at Minneapolis McCoy Banking C Independence, Mo. LARGER COMMERCIAL CONCERN INVOLVING LIABILITIES OF $500,0