9832. Osseo State Bank (Osseo, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
*
Location
Osseo, Minnesota (45.119, -93.402)

Metadata

Model
gpt-5-mini
Short Digest
393cfdf7

Response Measures

None

Description

Articles (Nov 22–23, 1917) state the Osseo State Bank is 'defunct' with F. E. Pearson as state superintendent of banks and receiver; failure followed misappropriation by former cashier James B. Thompson (sentenced to prison). A 15% dividend to creditors to be paid about Dec 15 after a $10,000 surety payment is announced. No run or reopening is mentioned; bank is in receivership.

Events (2)

1. * Receivership
Newspaper Excerpt
The announcement was made by F. E. Pearson, state superintendent of banks and receiver of the Osseo institution, following the payment of $10,000 by the surety company on the bond of James B. Thompson, former cashier of the bank, who was sentenced to state prison for misappropriation of bank funds.
Source
newspapers
2. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure tied to misappropriation of bank funds by former cashier James B. Thompson, who was sentenced to state prison; surety payment used to pay dividend.
Newspaper Excerpt
A new dividend of 15 per cent will be paid creditors of the defunct Osseo State bank about Dec. 15. The announcement was made by F. E. Pearson, state superintendent of banks and receiver of the Osseo institution, following the payment of $10,000 by the surety company on the bond of James B. Thompson, former cashier of the bank, who was sentenced to state prison for misappropriation of bank funds.
Source
newspapers

Newspaper Articles (2)

Article from Askov American, November 22, 1917

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Article Text

or IS Ottawa, Anderson, Gonvick, Minn., listed among the wounded and missing. Eighteen Minnesota merchants paid fines totaling more than $750 last month for violations of the state pure food laws, Commissioner James Sor. ensen of the dairy and food department announces. With road conditions growing worse daily, the prospects for relief of the International Falls wood famine grows more unfavorable. No hard coal can be secured by dealers, so the fuel situation is very serious. Inheritance taxes of $793 were paid the state on the estate of Emerson Hadley, a St. Paul attorney, who died Nov. 11, 1916. Mr Hadley left property valued at $89,565 to his widow, daughter and grandchildren. Several bad cases of black diphtheria have developed in the Kuppela family, living about four miles east of Plummer. Mary, eight-year-old daughter, and John, a 14-year-old son, passed away. The school in that district has been closed. Fergus Falls Elks donated $150 to the Y. M. C. A. fund and $50 to the Knights of Columbus fund for the boys at the front. They also set aside $50 for the poor fuel bills in the city, besides making arrangements for their Christmas charities. The little parks of the Great Northern at Barnesville will not receive their usual winter covering to protect the tender plants and shrubs this winter. as the officials of the Fergus Falls division refused the expense necessary for their protection. Red Cross organizations are now established and at work in the follow. ing Polk county centers: Angus, Beltrami, Chester township Climax, Crookston. Erskine, Euclid. Fertile, Fisher, Fosston, Lengby. Mallory, McIntosh, Mentor. Neilsville. Trail, Tabor. Key West. Sarah Olson, mother of Baby Ruth Olson, who is fighting George Weston, living near Faribault, for the return of her baby, is willing to take her chances on a jury of 12 men. Through her attorney. James B. Hickey, the mother asked Judge Childress of Rice county to have a gury trial. When the case goes to trial Nov. 23 a mother's might to her child born out of wedlock will be considered by the jury. A new dividend of 15 per cent will be paid creditors of the defunct Osseo State bank about Dec. 15. The announcement was made by F. E. Pearson, state superinteadent of banks and receiver of the Osseo institution, for lowing the payment of $10,000 by the surety company on the bond of James B. Thompson, former cashier of the bank. who was sentenced to state prison for misappropriation of bank funds. The entertainment committee of the Crookston Red Cross chapter has planned a series of afternoon or evening chain parties, each member of the committee to entertain four of their friends at a party, each one of the four bringing 25 cents for the Red Cross. The four guests are then to promise that they will each entertain four of their friends, who will contribute a quarter. Each of these guests will be requested to do the same thing. thus making a continuous chain. It has been figured up that this series for six weeks would raise $5,260. From now on all manufacturers, miners, dealers and foremen handling explosives in Minnesota will be ob liged to take out licenses, and to keep itemized records of all such explosives that come into their possession, a telegram from Washington to Labor Commissioner W. F. Houk stated. The state labor department is charged with the enforcement of the law. Postmaster Henry J. Schaefer of Albaay sent in his resignation last June and not until recently was it accepted by the postmaster general. Owing to the vacancy there will be an examination for the position at St. Cloud


Article from The Ely Miner, November 23, 1917

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Article Text

In the last casualty list sent ou from Ottawa, Ont.. is the name of E Anderson, Gonvick, Minn., liste among the wounded and missing. Eighteen Minnesota merchants pai fines totaling more than $750 las month for violations of the state pur food laws, Commissioner James So ensen of the dairy and food depart ment announces. With road conditions growing wors daily, the prospects for relief of th International Falls wood famine grow more unfavorable. No hard coal car be secured by dealers, so the fuel sit uation is very serious. Inheritance taxes of $793 were pai the state on the estate of Emerso Hadley, à St. Paul attorney, who die Nov. 11, 1916. Mr. Hadley left prop erty valued at $89,565 to his widow daughter and grandchildren. Several bad cases of black diphthe ria have developed in the Kuppel family, living about four miles east o Plummer. Mary, eight-year-old daugh ter, and John, a 14-year-old son, passe away. The school in that district ha been closed. Fergus Falls Elks donated $150 t the Y. M. C. A. fund and $50 to th Knights of Columbus fund for th boys at the front. They also set asid $50 for the poor fuel bills in the city besides making arrangements for thei Christmas charities. The little parks of the Great North ern at Barnesville will not receive their usual winter covering to protec the tender plants and shrubs this win ter, as the officials of the Fergus Fall division refused the expense necessar: for their protection. Red Cross organizations are nov established and at work in the follow ing Polk county centers: Angus, Bel trami, Chester township, Climax Crookston, Erskine, Euclid, Fertile Fisher, Fosston, Lengby, Mallory, Mc Intosh, Mentor, Neilsville, Trail, Ta bor, Key West. Sarah Olson, mother of Baby Rutl Olson, who is fighting George Weston living near Faribault, for the return o her baby, is willing to take he chances on a jury of 12 men. Through her attorney, James B. Hickey, th mother asked Judge Childress of Ric county to have a jury trial. When the case goes to trial Nov. 23 a moth er's right to her child born out of wed lock will be considered by the jury. A new dividend of 15 per cent wil be paid creditors of the defunct Osse State bank about Dec. 15. The an nouncement was made by F. E. Pear son, state superintendent of banks an receiver of the Osseo institution, foi lowing the payment of $10,000 by th surety company on the bond of James B. Thompson, former cashier of th bank. who was sentenced to stat prison for misappropriation of banl funds. The entertainment committee of the Crookston Red Cross chapter ha planned a series of afternoon or even ing chain parties, each member of the committee to entertain four of thei friends at a party, each one of the fou bringing 25 cents for the Red Cross The four guests are then to promis that they will each entertain four o their friends, who will contribute a quarter. Each of these guests will b requested to do the same thing, thu making a continuous chain. It ha been figured up that this series for si: weeks would raise $5,260. From now on all manufacturers miners, dealers and foremen handling explosives in Minnesota will be ob liged to take out licenses, and to keep itemized records of all such explo sives that come into their possession a telegram from Washington to Labo Commissioner W. F. Houk stated. Th state labor department is charged with the enforcement of the law. Postmaster Henry J. Schaefer of Al bany sent in his resignation last Jun and not until recently was it accepted by the postmaster general. Owing t the vacancy there will be an examina tion for the position at St. Cloud. Andrew M. Halseth, Bemidji, wh died in the transport service Nov. from concussion of the brain, fell from a hammock, it is believed. He lef Bemidji with the Bemidji division o Minnesota naval militia in April. Hi sister, Anna Halseth, is chief operato