9829. Bank of Ortonville (Ortonville, MN)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
December 23, 1896
Location
Ortonville, Minnesota (45.305, -96.445)

Metadata

Model
gpt-5-mini
Short Digest
44251ef3

Response Measures

Accommodated withdrawals

Description

Multiple newspapers (Dec 24, 1896) report that the Bank of Ortonville 'had a run this morning' triggered by the failure/receivership of the Bank of Minnesota (connection: William Dawson Jr., vice-president). Articles state the bank 'had plenty of funds and is in no danger of suspension,' so the event is a run only with no suspension or closure reported. Date taken as 1896-12-23 (reports datelined Dec 23 saying 'this morning').

Events (1)
1. December 23, 1896 Run
Cause
Local Banks
Cause Details
Run triggered by connection to the failing Bank of Minnesota (vice-president of Ortonville bank was cashier of the failed Bank of Minnesota).
Newspaper Excerpt
At Ortonville, the Bank of Ortonville had a run this morning, because of the fact that William Dawson, Jr., cashier of the Bank of Minnesota, is its vice president. The bank had plenty of funds, and is in no danger of suspension.
Source
newspapers

Newspaper Articles (7)
1. December 24, 1896 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, December 24, 1896

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Article Text

MINNESOTA BANKS. Failure of the Bank of Minnesota Causes Wide-Spread Panic. St. Paul, Minn., Dec. 23.-This afternoon Judge Otis appointed William H. Lightner and Frank A. Saymour, cashier of the Merchants' National bank, receivers of the Bank of Minesota. Public Examiner Kenyon, in his petition to the court, stated that the assets are $281,000 in real estate, $45,000 in cash and $1,650,000 in loans and discounts. Some surprise was expressed over the last item, as when the bank's last statement, on October 6, was made, the loans and discounts were given as $2,300,000. The public examiner has evidently given these at what he regards their actual value. The bank is independent to depositors in the sum of $2,341,000, and its liabilities over all assets are $340,000. As the capital stock is $600,000, and every stockholder is liable to twice the amount of his stock, it is pretty certain that every depositor will be paid nearly dollar for dollar. There was a short run on two small state banks this morning, but both went through the clearing house all right and declared themselves ready to meet any demands. At Ortonville, the bank of Ortonville, had a run this morning because of the fact that William Dawson, jr., cashier of the Bank of Minnesota, is its vice president. The bank has plenty of funds and is in no danger of suspension.

2. December 24, 1896 The Norfolk Virginian Norfolk, VA
Article from The Norfolk Virginian, December 24, 1896

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Article Text

PRICE TWO CENTS. over the last item, as when the banks last statement, October 6th. was made "ANCIENT LANDMAR the loans and discounts were given as $2,300,000. The public examiner has evidently given these at what he regards as their actual value. The bank is Indebted to depositors in the sum of $2,341.The Lecture of Hon. William J. Bry 000 and Its liabilities over all assets are $340,000. As the capital stock Is $600,000 livered to a large Audience and every stockholder liable to twice the amount of his stock. it is pretty certain that every depositor will be paid nearly dollar for dollar. TOUCHES BUT LITTLE UPON PO At Ortonville, the Bank of Ortonville had a run this morning because of the fact that William Dawson, cashier of A Masterly Dissertation Upon the Bank of Minnesota, is. Its vice-president. The bank had plenty of funds and of the Evils in Our Govern is in no danger of suspension. and Suggestions

3. December 24, 1896 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, December 24, 1896

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Article Text

BANK OF MINNESOTA. Machinery for Closing It Up Started-Two Short Runs. ST. PAUL, MINN., December 23.-The machinery for closing up the business of the Bank of Minnesota was set in motion this afternoon by Judge Otis, in the appointment of William H. Lighter and Frank A. Seymour, cashier of the Merchants' National Bank, as its receivers. M. D. Kenyon, the public examiner, in his petition to the court, stated that the assets of the bank were $281,000 in real estate, $45,000 in cash, and $1,675,000 in loans and discounts. Some surprise was expressed over the last item, as when the bank's last statement, October 6th, was made, the loans and discounts were given as $2,300,000. The public examiner has evidently given these at what he regards as their actual value. The bank is indebted to depositors in the sum of $2,341,000. and its liabilities over all assets are $340,000. As the capital stock is $600,000. and every stockholder is liable to twice the amount of his stock, it is pretty certain that every depositor will be paid nearly dollar for dollar. There was a short run on two small State banks this morning, but both went through the Clearing-House all right, and declared themselves ready to meet any demands. At Ortonville, the Bank of Ortonville had a run this morning, because of the fact that William Dawson, Jr., cashier of the Bank of Minnesota, is its vice president. The bank had plenty of funds, and is in no danger of suspension.

4. December 24, 1896 The Morning News Savannah, GA
Article from The Morning News, December 24, 1896

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Article Text

SHAKY LOANS AT ST. PAUL. Depositors of the Defunct Concern Likely to Be Paid in Full. St. Paul, Minn., Dec. 23.-The machinery for closing up the business of the Bank of Minnesota was set in motion this afternoon by Judge Otis, in the appointment of William H. Lighter and Frank A. Seymour, cashier of the Merchants National Bank, its receivers. M. D. Kenyon, public examiner, in his petition to the court, stated that the assets of the bank were $281,000 in real estate, $45,000 in cash and $1,675,000 in loans and discounts. Some surprise was expressed over the last item, as when the bank's last statement, Oct. 6, was made the loans and discounts were given as $2,300,000. The public examiner has evidently given these at what he regards their actual value. The bank is indebted to depositors in the sum of $2,341,000, and its liabilities over all assets are $340,000. As the capital stock is $600,000, and every stockholder is liable to twice the amount of his stock, it is pretty certain that every depositor will be paid nearly dollar for dollar. There was a short run on two small state banks this morning, but both went through the clearing house all right, and declared themselves ready to meet any demands. At Ortonville, the Bank of Ortonville had a run this morning, because of the fact that William Dawson, Jr., cashier of the Bank of Minnesota, is its vice president. The bank had plenty of funds, and is in no danger of suspension.

5. December 24, 1896 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, December 24, 1896

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Article Text

BANK OF MINNEAPOLIS. Machinery For Closing It Up In Operation. St. Paul, Dec. 25 -The machinery for closing up the business of the Bank of Minnesota was set in motion this afternoon by Judge Otis in the appointment of William H. Lightner and Frank A. Seymour, cashier of the Merchants' National bank, its receivers. M. D. Kenyon, public examiner, in his petition to the court, stated that the assets of the bank were $281,000 in real estate; $45,000 in cash and $1,675,000 in loans and discounts. Some surprise was expressed over this as when the bank's last statement, October 6, was made, the loans and discounts were given, as $2,300,000. The public examiner has evidently given these at what he regards their actual value. The bank is indebted to the depositors in the sum of $2,341,000, and its liabilities over all assets are $350,000. As the capital stock is $600,000, and every stockholder liable to twice the amount of his stock, it is pretty certain that every depositor will be paid nearly dollar for dollar. There was a short run on two small state banks this morning but both went through the clearing house all right and declared themselves réady to meet any demands. At Ortonville the bank of Ortonville had a run this morning because of the fact that William Dawson, jr., cashier of the Bank of Minnesota, is its vice-president, The bank had plenty of funds and is in no danger of suspension.

6. December 24, 1896 New-York Tribune New York, NY
Article from New-York Tribune, December 24, 1896

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Article Text

THE SITUATION IN ST. PAUL. DEPOSITORS IN THE BANK OF MINNESOTA LIKELY TO LOSE LITTLE. St. Paul, Dec. 23.-The machinery for closing up the business of the Bank of Minnesota was set in motion this afternoon by Judge Otis, in the appointment of William H. Lightner and Frank A. Beymour, cashier of the Merchants' National Bank, Its receivers. M. D. Kenyon, Public Examiner, in his petition to the Court, stated that the assets of the bank were $281,000 in real estate, $45,000 in cash and $1,675,000 in loans and discounts. Some surprise was expressed over the last item, as when the bank's last statement, October 6, was made, the loans and discounts were given as $2,300,000. The Public Examiner has evidently given these at what he regards their actual value. The bank is indebted to depositors in the sum of $2,341,000, and its liabilities over all assets are $340,000. As the capital stock is $600,000. and every stockholder is llable to twice the amount of his stock, it is pretty certain that every depositor will be paid nearly dollar for dollar. There was a short run on two small State banks this morning, but both went through the Clearing House all right and declared themselves ready to meet any demands. At Ortonville, the Bank of Ortonville had a run this morning because of the fact that William Dawson. jr. cashier of the Bank of Minnesota. is its vice-pre lent. The bank had plenty of funds and is in no danger of suspension. Great sympathy is felt for William Dawson. who. after a banking career of thirty-five years in this city, full of success and honor, is confronted by this calamity. His personal estate is valued at $2,000,000, and other directors are also millionaires. The Sheriff received three attachments against the Bank of Minnesota, of St. Paul, in favor of J. S. Bache & Co. for $2,000, Cornellus S. Loder for $5,000, and Henry W. Mittag for $24,361, the latter being for collections made for the Third National Bank, of Boston, by the Bank of Minnesota, which have not yet been paid. The Sheriff served the at-

7. December 24, 1896 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, December 24, 1896

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Article Text

DEPOSITORS RE SECURED. Report of the Receivers of the Bank of Minnesota. ST. PAUL, MINN., Dec. 23.-The machinery for closing up the business of the Bank of Minnesota was set in motion this afternoon by Judge Otis in the appointment of William H. Lightner and Frank A. Seymour, cashier of the Merchants' National Bank, its receivers, M. D. Kenyon, public examiner, in his petition to the court stated that the assets of the bank were $281,000 in real estate, $45,000 in cash and $1,675,000 in loans and discounts. Some surprise was expressed over the last item, as when the bank's last statement, October 6, was made the loans and discounts were given as $2,300,000. The public examiner has evidently given these at what he regards as their actual value. The bank is indebted to the depositors in the sum of $2,341,000, and its liabilities over all assets are $340,000. As the capital stock is $600,000 and every stockholder liable to twice the amount of his stock it is pretty certain that every depositor will be paid nearly dollar for dollar. There was a short run on two small State banks this morning, but both went through the clearing-house all right and declared themselves ready to meet any demands. At Ortonville the Bank of Ortonville had a run this morning because of the fact that William Dawson Jr., cashier of the Bank of Minnesota, is its vice-president. The bank had plenty of funds and is in no danger of suspension.