9878. Marine Bank of St. Paul (Saint Paul, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 13, 1876
Location
Saint Paul, Minnesota (44.944, -93.093)

Metadata

Model
gpt-5-mini
Short Digest
eb3b20c4

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (Nov 13, 1876) report the Marine Bank of St. Paul suspended and call it a bank failure. Articles attribute the cause to mismanagement; a director claimed assets exceeded liabilities but settlement timing was uncertain. No article describes a depositor run or a later reopening, so classified as suspension with eventual closure/ failure.

Events (1)

1. November 13, 1876 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension attributed to mismanagement; director asserted assets exceed liabilities but settlement timing unknown.
Newspaper Excerpt
ST. PAUL, MINN., Nov. 13.-The Marine Bank of St. Paul, established under the State law, suspended this morning. No particulars as to assets or liabilities yet.
Source
newspapers

Newspaper Articles (10)

Article from The Cincinnati Daily Star, November 13, 1876

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Article Text

A Stir Among the Thieves. NEW YORK, Nov. 13.-The Graphic's special cable from Paris says it is understood that international treaties are pending between the United States and foreign Powers, baving in view the interchange of criminals, thus allowing them no asylum in the United States or Europe. It is reported that Peter B. Sweeney has departed in anticipation of Tweed's arrival in New York. Also, that Richard B. Cocnolly has left Swirzerland, and is traveling now with a British passport under an assumed name. Suspended. ST. PAUL, MINN., Nov. 13.-The Marine Bank of St. Paul, established under the State law, suspended this morning. No particulars as to assets or liabilities yet.


Article from New-York Tribune, November 14, 1876

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Article Text

SUSPENSION OF A ST. PAUL BANK. ST. PAUL, Minn., Nov. 13.-The Marine Bank of St. Paul suspended this morning. There are no particulars as to assets or liabilities yet. The bank was established under the State law.


Article from The Cheyenne Daily Leader, November 14, 1876

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Article Text

TELEGRAPHIC TICKS. Gold closed yesterday at 109g. The Marine Bank of St. Paul has suspended. Moulton has withdrawn his suit against Beecher. There has been a terrific hurricane at Lisbon, Portugal. A convicted murderer hung himself in his cell at Watertown, N. Y., Sunday night. A Greek vessel was run down in the English channel Saturday, and eight of her crew perished. Mr. Jorgenson, Republican, is elected to congress from the fourth Virg nia district by over 1,000 majority. A heavy gale prevailed on the coast of England, Sunday, and numerous disasters to vessels are reported. Since the close of the Centennial exhibition the general tendency to a fall in prices has reached the first-class hotels of New York, and reductions have been announced. The president has signed a pardon for Wm. O. Avery, now confined in the penitentiary at Jefferson City, Mo., for complicity in the whisky frauds. The friends of Wm. McKee express absolute confidence that he will be pardoned within a day or two. There is a report that negotiations are pending between this country and foreign powers looking toward an inerchange of criminals. In consequence of this Peter B. Sweeney is said to have left Paris, and Dick Connolly is traveling under an assumed name on British passports.


Article from The Wheeling Daily Intelligencer, November 14, 1876

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Article Text

Bank Suspended. Sr. PAUL, November 13.-The Marine Bank of St. Paul, established under the State law, suspended this morning. No particulars as to the assets or liabilities yet. The failure is attributed to mismanagement and not to any misappropriation of funds. One of the directors states positively that the assets are in excess of the liabilities, but that it is not possible at this time to say how soon a settlement can be made with the creditors.


Article from The Morning Herald, November 14, 1876

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Article Text

Where the Money Goes. By Associated Press, ST. PAUL, Minn., Nov. 13.-The Marine Bank of St. Paul suspended this morning. There are no particulars as to the assets or liabilities yet. The bank was established under the State law.


Article from The Portland Daily Press, November 14, 1876

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Article Text

MINOR TELEGRAMIS. The Marine Bank of St. Paul suspended yesterday. The trial of the $7,000,000 suit against P. B. Sweeney has been adjourned to the first Tuesday in January. The $1,000,000 suit against Tweed will be tried afterwards. The joint commission appointed to frame a bill for the organization of the army, met at the War Department yesterday, but all the members not being present the commission adjourned till next Thursday. A Paris special yesterday says it is understood there that international treaties are pending between the United States and foreign powers, having in view the interchange of criminals, thus allowing them no asylum either in the United States or Europe. It is reported that Peter B. Sweeney has departed in anticipation of Tweed's arrival in New York; also that Richard B. Josnolly has left Switzerland and is now traveling with a British passport under an assumed name. The pending extradition treaty will affect Genet, Wilbur, Connolly, Sweeney and such others of the "Ring" people as are now harbored in different parts of Europe.


Article from The New York Herald, November 14, 1876

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Article Text

BANK FAILURE. Sr. PAUL, Minn. Nov. 13, 1876. The Marine Bank of St. Paul suspended this morning. There are no particulars as to assets or liabilities 6706 The bank was established. under the State law.


Article from Carson Daily Appeal, November 15, 1876

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Article Text

P The Marine bank of St. Paul, Mian. has suspended.


Article from The Jeffersonian, November 16, 1876

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Article Text

The Marine Bank of St. Paul has suspended.


Article from Bozeman Avant Courier, November 30, 1876

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Article Text

NEWS PARAGEAPHS. The invested funds of Harvard University amount to $3,138,128, and the gross yearly income Is $218,715. John Lick, the BOL of the deceased millionaire, is an illegitimate descendant, but proposes to contest the will of his father and break up the trusts if he can. He was left $150,000 by the eccentric old Californian. The Methodist Episcopal Missionary Committee, among others, made the following appropriations: Nevada, $2,500; Rocky Mountains, $6,000; Southern Calirornia, $2,000. The Younger Brothers were brought into court at Fairbault, Minnesota, on the 20th inst., and contrary to expecta tions, plead guilty to the indictment for the murder of Haywood, the Northfield bank cashier. There was no excitement or demonstration. After a vain attempt by the counsel for the prosecution to secure a jury, who, under the Statute, can pass the death sentence in a case like this, the Judge sentenced them to imprisonment in the State penitentiary for life. It is proposed in Boston to raise $50,000 to secure a scries of Moody and Sankey Meetings. The celebrated bull, Duke of Airdrie, the property of Emory Cobb, of Kanka. kee, Illinois, died recently. He was valued at $20,000. John Prouty, an old and widely-known farmer in Cass county, Illinois, failed, with liabilities of over one hundred thousand dollars. His assets are less than than fifty thousand. E. H. Alden has been appointed Agent for the Indians of Fort Berthold Agency, 10 Dakato, yice C. M. Darling resigned. The steamship Russia, which arrived from Liverpool last week, brought £280,000 of gold coin. The flow of water from Sutro tu: n lis 225 minets' inches. Number of feet driven during the month of October is s 321; total teet driven in the tunnel, 14,835. e Ta'em, of Lewis and Clarke will be the only Republican in the Upper House of the Legislature this winter. 3 ) A gentleman who has interviewed 3 Tweed, in answer to inquiries, said: "He B is crushed and broken in spirit, has lost 3 his old buoyancy and defiant spirit. He is suffering from pleurisy now, and is 1 actually ill. He seemed wearied, and only anxions to know about his old ac: quaintances. He is entirely in the dark as to what to do, and is even without I legal advice. He needs medical advice more than anything else now. f 8 The total number of troops ordered to , Washington is from 800 to 900. Tois int cludes the companies of batteries now here and tour companies of infantry which has orders to come east from Fort : Sill. 8 Tilden's majority in Indiana, 5,424. The Marine Bank of St. Paul has suspended. The President has signed a pardon for : Wm. O. Avery, now confined in the pen8 itentiary at Jefferson City, Mo., for 6' complicity in the whisky frauds. The , friends of Wm. McKee express absolute e confidence that he will be pardoned witha in a day or two.