9856. Robbinsdale State Bank (Robbinsdale, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 28, 1918
Location
Robbinsdale, Minnesota (45.032, -93.339)

Metadata

Model
gpt-5-mini
Short Digest
e47c5998

Response Measures

None

Description

Articles (late Aug 1918) report the Robbinsdale State Bank's doors were closed by the state bank examiner after discovery of $18,850 shortages; cashier attributed suspension to bad loans. No run is mentioned. The report implies serious insolvency and examiner did not expect depositors paid in full; no explicit reopening reported, so classified as suspension leading to closure (suspension_closure).

Events (1)

1. August 28, 1918 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Examiner discovered shortages of $18,850; cashier attributed suspension to losses from bad loans (insolvency/deficiencies).
Newspaper Excerpt
The Robbinsdale State bank's doors were closed by order of F. E. Pearson, state bank examiner, and the bank is undergoing a thorough examination. Shortages of $18,850 have been discovered, Mr. Pearson said.
Source
newspapers

Newspaper Articles (2)

Article from Warren Sheaf, August 28, 1918

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Article Text

assembled following the general election. The purpose is to show the voters just how the vote was cast at the state primary. Minneapolis. - War-time conservation in the postal service is now being practiced by the government. The yearly postoffice inspection is approaching. Normally, uniformed members would have to purchase new clothes. This year, however, the government has sent out word that postoffice employes will not lose any credits if their old uniforms and caps are repaired and put in ordinarily satisfactory condition. St. Paul.-The Robbinsdale State bank's doors were closed by order of F. E. Pearson, state bank examiner, and the bank is undergoing a thorough examination. Shortages of $18,850 have been discovered, Mr. Pearson said. Losses through bad loans are given as the reason for the bank's suspension by W. A. Farr, cashier and majority stockholder. Mr. Pearson said he does not expect to see depositors paid in full. The bank has $10,000 capital and $2,000 surplus. Deposits are approximately $140,000. St. Paul.-Action to avert a shortage of hay in northern Minnesota next winter was continued by State Auditor Preus. An appeal was made to Senator Knute Nelson at Washington to obtain war department assurance that river bottoms will not be flooded by the opening of government dams when hay has been cut there. The Public Safety commission will be asked by the auditor to call attention of farmers through county directors to the law permitting county auditors to lease state-owned meadow land at 10 cents an acre. Hibbing - Findings for the defendants were ordered by Judge Martin Hughes in the case of M. H. Tryder vs. F. A. Moore, which was tried in district court. The case resulted from an action to determine if a partnership existed between the two men in a laundry business formerly conducted in_Hibbing.


Article from The Ely Miner, August 30, 1918

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Article Text

Tyler.-Two of the Tyler residents who were injured in the tornado have died, bringing the death list to thirtyone. Eight of the most seriously injured are not expected to recover. Red Wing.-With a crash that could be heard for a considerable distance, the south wall of Elevator A of the Red Wing Milling company pushed out and resulted in spilling about 1,400 bushels of wheat over the railroad tracks. Asco.-A. A. Beulow, a farmer near here, was stung to death by bees. Beulow attempted to remove honey from a hive. Hundreds of them stung him, and before he was able to get into his home the poison spread through his system. St. Paul.-Julius A. Schmahl, secretary of state, has published the complete primaries vote cast June 17 in pamphlet form. It is the first time since the primary law went into effect that the vote by precincts has been published except in the Blue Book, issued after the legislature has assembled following the general election. The purpose is to show the voters just how the vote was cast at the state primary. Minneapolis. - War-time conservation in the postal service is now being practiced by the government. The yearly postoffice inspection is approaching. Normally, uniformed members would have to purchase new clothes. This year, however, the government has sent out word that postoffice employes will not lose any credits if their old uniforms and caps are repaired and put in ordinarily satisfactory condition. Virginia.-Members of the police and fire commission, the chief of police and the chief of the fire department, the mayor and the city clerk visited the Twin Cities, where they investigated motorized fire trucks and police patrols with a view to purchasing. Bids for a seven-passenger car for the chief of police and a five-passenger car for the chief of the fire department will be opened at a meeting of the commission on Sept. 9. Moorhead.-Close up to the lines, back of the Americans fighting north of the Marne, Miss Rose Clark of Moorhead, a Red Cross nurse, writes to friends in Moorhead of the gratitude of soldiers as they pass through the Red Cross clearing hospital. "Tell the woman at home not to throw down the job of making dressings," Miss Clark appeals. "If you could see how many we use just here; we try to be saving as possible, but one man sometimes has as many as eight or nine wounds." St. Paul.-The Robbinsdale State bank's doors were closed by order of F. E. Pearson, state bank examiner, and the bank is undergoing a thorough examination. Shortages of $18.850 have been discovered, Mr. Pearson said. Losses through bad loans are given as the reason for the bank's suspension by W. A. Farr, cashier and majority stockholder. Mr. Pearson said he does not expect to see depositors paid in full. The bank has $10,000 capital and $2,000 surplus. Deposits are approximately $140,000. St. Paul.-Action to avert a shortage of hay in northern Minnesota next winter was continued by State Auditor Preus. An appeal was made to Senator Knute Nelson at Washington to obtain war department assurance that river bottoms will not be flooded by the opening of government dams when hay has been cut there. The Public Safety commission will be asked by the auditor to call attention of farmers through county directors to the law permitting county auditors to lease state-owned meadow land at 10 cents an acre. Hibbing.-Findings for the defendants were ordered by Judge Martin Hughes in the case of M. H. Tryder vs. F. A. Moore, which was tried in district court. The case resulted from an action to determine if a partnership existed between the two men in a laundry business formerly conducted in Hibbing. Knife River.-The recent difficulty between the D. & N. M. railroad and its shop employes has been adjusted, the men returning to work. The main questions appeared to hinge on back pay, which the employes claimed. No further difficulty is expected. Fairmont.-A young man by the name of Benson, who has been employed in this city, was arrested here. It is alleged that Benson signed the name of his father-in-law, who resides in Faribault county, to a check which he cashed at Wells. St. Paul.Asserting that the soldier vote in the June primaries was a negligible factor, Secretary of State Julius A. Schmahl repeated that he will recommend to the public safety commisthe of pending.plans