9908. Allemannia Bank (St Paul, MN)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
January 3, 1897
Location
St Paul, Minnesota (44.944, -93.093)

Metadata

Model
gpt-5-mini
Short Digest
2e765071

Response Measures

Capital injected, Full suspension, Books examined

Description

A depositor run precipitated by failures of other local banks (notably the Germania and Bank of Minnesota) forced the Allemannia to suspend in early Jan 1897; a receiver was appointed and the bank underwent reorganization and legally reopened under court decree on 1898-05-27.

Events (5)
1. January 3, 1897 Run
Cause
Local Banks
Cause Details
Run precipitated by news of the assignment/suspension of the nearby Germania bank and prior failures (Bank of Minnesota, Minneapolis banks) creating panic.
Measures
Bank Examiner Kenyon notified; officers closed doors; police called to keep crowd moving; books and assets taken by superintendent/examiner.
Newspaper Excerpt
The Allemannia bank evidently saw it was useless to try to stem the tide of depositors who were thronging the building and demanding their money. The news of the assignment of the Germania bank spread with rapidity, and hundreds of depositors of the Allemannia made an attempt to get out their money.
Source
newspapers
2. January 3, 1897 Suspension
Cause
Local Banks
Cause Details
Suspension due to heavy withdrawals and withheld deposits after news of nearby bank failures (Germania) intensified panic.
Newspaper Excerpt
The doors of the bank were closed... A sign was hung: 'I have taken possession of the books, records and assets of every description of this bank in my official capacity as superintendent of banks' - M. D. Kenyon.
Source
newspapers
3. January 5, 1897 Receivership
Newspaper Excerpt
The Allemannia closed a few minutes before 11 o'clock, with a crowd of depositors... The Germania is in the hands of P. M. Kerst as assignee, and the other two are in the hands of Bank Examiner Kenyon. A receiver will be appointed for the Allemannia tomorrow... (Record-Union 1897-01-05).
Source
newspapers
4. April 10, 1897 Other
Newspaper Excerpt
Albert Scheffer... filed a petition... asking the court to approve the plan of reorganization of the bank, set forth in the petition, to discharge the receiver from his trust and to direct him to return all property and assets of the bank remaining in his hands to the officers and directors of the bank.
Source
newspapers
5. May 27, 1898 Reopening
Newspaper Excerpt
The Allemannia bank will throw open its doors for business this morning, under an order issued by Judge Willis... approving the reorganization plan, and ordering title to all property in the hands of the receivers pass to the bank.
Source
newspapers

Newspaper Articles (24)
1. November 8, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, November 8, 1896

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sion or for fear of the instability of the banks. In many, if not most instances, the depositors were out of employment and needed their savings. Of course there were some who closed their accounts and put their money in safety deposit vaults and other places for safe keeping. The usual effort to withdraw in gold was resisted by the banks and most of the money is now coming back to us in rolls of bills that the depositors have had hoarded in secret places since its withdrawal. Less than $60,000 was withdrawn in this way during the past four months. Most of It has returned, the balance will sooner or later, and we are opening new accounts with new depositors hourly. There are many who are holding back until they are quite certain that the election of McKinley means a stable money market, and then they will come in again, also. The future is bright with the prospect of a business revival." "Eastern capital is already seeking investment in Minnesota," said C. W. Eberlein, secretary of the St. Paul Trust company, "and the election of Gov. Clough means as much to the people of Minnesota as the election of McKinley to the nation. The money lenders of the East have had experience with the Populist states of the West and they are shy of placing their money in such states. If Minnesota had been so unfortunate as to be under the reign of a Populist governor, I doubt if the Eastern men could have been persuaded to send their money here. As it is, they are offering it freely. There will be plenty of money offered now to move the crops and that is the basis of our business in this country. The good effects of the election will be felt in every channel of trade within a short time. I have had little opportunity to judge whether there was much hoarding or withdrawals from the banks, but I do know. that while there was plenty of money, none could be borrowed while the uncertainty concerning the financial policy of the nation existed. Now there is no more money, but there is a freedom of movement and willingness to invest. There is already noticeable in the business of this company a more prompt payment of interest, and rents and other accounts that have been neglected during the past four months. There is no question but that the tide has already turned and that good times will follow on the heels of the general feeling of confidence." One banker cited as an instance of the general feeling that the election of McKinley would have a beneficial effect on the money market, the fact that a customer of the bank, who had $20,000 in gold on deposit, loaned half the amount the day after election, before even the official figures had been hinted at. "McKinley's elected, and that's all I want to know," said the man with the $20,000 and he was given the sum he wanted to loan, which went at once into the grain business of the Northwest. This man was but a single instance of the many whom the bankers cite as evidence that only confidence in the stability of the money system was needed to restore that measure of confidence that insures success in business circles. Some men, large holders of ready capital, too, were anxious to secure their deposits from the banks in gold. This was denied them, as the bankers knew that the men had no place to lend money, but sought to withdraw It simply for the purpose of placing it in safety deposit vaults. Frustrated in their designs some of the depositors bought drafts and in this way secured their gold from the subtreasuries. But all that money is finding its way back into the banks and will soon be oiling the wheels of commerce. President Albert Scheffer, of the Allemannia bank, said that as the result of the financial agitation, business had been practically at a standstill during

2. January 5, 1897 The Record-Union Sacramento, CA
Article from The Record-Union, January 5, 1897

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Demands Made Upon Them. Expected That They Will Soon be Reorganized and Reopened. The President of One of the Institutions Makes a Statement in Which He Charges That Evil Disposed Persons Maliciously Directed the Attempt to Break the Bank Over Which He Presided. ST. PAUL, Jan. 4.-The Germania, Allemannia and West Side Banks, all doing business as State Banks, to-day closed their doors. The failure of the Bank of Minnesota December 22d caused unrest in the community, and depositors withdrew their money from these banks to such an extent that they were forced to go to the wall because they had not Lunds enough on hand to meet the demands made upon them. Any of the three, however, is solvent, and they will be re-organized as soon as the money for that purpose can be put into use. The directors of the Germania met this afternoon and appointed a committee on re-organization. The Germania is in the hands of P. M. Kerst as assignee, and the other two are in the hands of Bank Examiner Kenyon. A receiver will be appointed for the Allemannia tomorrow, and the West Side Bank will try to make arrangements with its creditors and re-open without the intervention of receiver. The last official statement of the Germania Bank showed total resources of $1,625,768, $253,847 of this being in the building and $975,420 in loans and discounts. Liabilities $1,625,768, including $400,000 capital stock and $633,019 in time certificates of deposits. The deposits subject to check are $44,551. The closing of the Germania was in pursuance of the action of the directors on Saturday night, who concluded to protect their depositors by suspending. President Willius prepared a statement in which he said: "As soon as the result of the Presidential election became known matters began to improve in a remarkable degree. and there did not seem to be any doubt on May 1st the bank would be in so strong and impregnable condition that an assessment could successfully be made on the stock. This was the condition on the 22d of December, when the suspension of the Bank of Minnesota occurred, following immediately upon the failure of the National Bank of Illinois of Chicago, which came as unexpectedly as a stroke of lightning in midwinter. Failures of other Minnesota banks increased the panicky feeling, but I did not fear any disastrous outcome until it became apparent that certain eveil disposed persons maliciously directed the attempt toward the Germania Bank, circulating false and manufactured reports regardI ing it with systematic persistency. hoped from day to day that the excitement would subside and make room for better judgment, but it grew in intensity. The attack became bolder every day. After the close of business on Saturday, the 2d of January, we found that the withdrawal of deposits had assumed such dimensions that we did not feel justified to continue receiving deposits or to pay out money beyond that day without submitting the condition of affairs to the directors. Consequently we called a special meeting of the board on said day at 7:30 p. m. We had paid off nearly $225,000 deposits in nine business days, and kept on hand and in reserve fund $70,000. which shows the unreasonableness of the attack. The directors came immediately to the conclusion that the action of the officers had been correct, and however deplorable it might be, it became their duty, for the protection of depositors and other creditors, to close the doors and place the assets of the bank in charge of an assignee." The Allemannia closed a few minutes before 11 o'clock, with a crowd of depositors clamoring at the paying telJer's window for their money. President Scheffer said: "Our suspension is due to the large number of withdrawals this morning, and the fact that most of the new depositors withheld their deposits. The news of the suspension of our neighbor, the Germania, precipitated the run here, and of course with all the deposits being withheld, and the fact that there was a steady withdrawal we could not stem the tide. When the full force of the Germania's failure burst on them the crowd seemed to become panic-stricken, and they came down upon us like a wolf on the fold. When the Bank of Minnesota failed the business men fortunately were not disturbed, and few were caught. The feeling of ease returned shortly. and might have continued had it not beeen for the failure of the four banks in Minneapolis. Then the panicky feeling came back, and was intensified by the fact that the business men caught it very badly. The feeling naturally spread over here. and the people have not been easy since then. When the Germania closed its doors this morning that was the last straw in the case, and they came down upon us like a herd of wolves." The total resources of the Allemannia, according to their report of the same day. was $1,061,009. including $706,842 of loans and discounts. Liabilities also $1,061,009. including capital stock of $400,000 and deposits of $329, 789. Speaking of the failure of the West Side Bank, President Staples said: "Our suspension was due to the Allemannia. We did all of our clearing through the Allemannia. and this morning they failed to cover our clearings, and sent them all back to us. News of the suspension of the Germania and Allemannia spread through West St. Paul, and our depositors began scram-

3. January 5, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 5, 1897

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# ALLEMANNIA GOES, TOO. Couldn't Stand the Drain and Had to Close, The Allemannia bank evidently saw it was useless to try to stem the tide of depositors who were thonging the building and demanding their money. The news of the assignment of the Germania bank spread with rapidity, and hundreds of depositors of the Allemannia made an attempt to get out their money. Albert Scheffer, president of the institution, realized that the steady drain going on and no deposits being made would work harm to the customers and depositors if continued, and Bank Examiner Kenyon was notified. The doors of the bank were closed, and a couple of police officers called to keep the crowd moving and allow the officers of the institution to get in and out of the building. Depositors who were in the bank, were pacified as much as possible by the officers, and while some were willing to listen to argument, the majority were too excited to listen. Half an hour after the bank closed its doors, the following sign was hung out: I have taken possession of the books, records and assets of every description of this bank in my official capacity as superintendent of banks, as provided by law -M. D. Kenyon, Per O. Lonegran, Assistant Bank Examiner. President Scheffer had only this to say: "Our suspension is due to the large number of withdrawals this morning and the fact that most of our depositors withheld their deposits. The news of the suspension of our neighbor, the Germania, precipitated the run here, and, of course, with the fact that there was a steady withdrawal, we could not stem the tide. When the full force of the Germania's failure burst on them, they seemed to become panic stricken and they came down on us like a wolf on the fold. "When the Bank of Minnesota failed the business men, fortunately, were not much disturbed and few were caught. The feeling of ease returned shortly and might have continued, hid it not been for the failure of the four banks in Minneapolis. Then the panicky feeling came back and was intensified by the fact that the business men then caught it very badly. The feeling naturally spread over here and the people have not been at ease since then, When the Germania closed its doors this morning that was the last straw in the case and they came down on us like a herd of wolves. "Now that the suspension has been made we will get right to work for a reorganization." Assistant Bank Examiner Lonegran had nothing to say further than that the excitement in banking circles was responsible for the suspension of the bank. There were no figures he could give out at present, and none would be given out until he had consulted with Mr. Kenyon. The bank is officered by the following gentlemen: President, Albert Scheffer; vice presidents, William Bickel and William Hamm; cashier, E. De F. Barnett; assistant cashier, Edmund J. Devitt; directors, Moses E. Clapp, W. H. Lightner, A. E. Whitney, James Middleton, E. D. F. Barnett, Timothy Reardon, Col. Welz, William Hamm and Edward Yanish. The report of the condition of the bank, at the close of business on Dec. 17. was as follows:

4. January 5, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 5, 1897

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WEST SIDE BANK PULLED IN. Decided Best for All Parties to Suspend. Blinds on the windows of the West Side bank were drawn shortly after 1 o'clock yesterday, and the sign "Bank Closed," was hung on the door. A group of depositors were in waiting at the time, and they were informed that the bank directors had determined to suspend. The suspension of this bank was directly due to the suspension of the Allemannia bank. When the news of the suspension of the Allemannia and Germania banks reached the West side, a run began on the West side bank. The officers of the bank realizing that all the funds would soon be exhausted, determined to close the doors and if possible save the bank. The directors went into session and remained closeted in the little room back of the bank all the afternoon. No offi-

5. January 6, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 6, 1897

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Rubber company. A deputy sheriff served copies of the attachments on the Hanover National bank. An attachment for $3,000 was issued today against property of the Allemannia Bank of St. Paul in favor of the American Exchange National bank on a bill of exchange made Dec. 31. A deputy sheriff served copies of the attachment on two banks." County Treasurer Elmund reports $56,000 as being the amount of county funds tied up in the suspended banks.

6. January 9, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 9, 1897

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ancient prestige. The bank has honor-* ed me with the presidency, and I feel that I am under a moral obligation to leave nothing undone that will tend to a reorganization. That is my position. The press and the public have treated us with uniform kindness and courtesy, and we are under a deep sense of obligation to them." WEST SIDE BANK. Assignee Staples, of the West Side bank, was seen also on the status of affairs at that institution. Said he: "We are busily at work on the schedules, and it will be impossible to do anything until that matter is settled." "How about reorganization?" "The people are all anxious that the West Side bank be reorganized, but no definite action has been taken in that direction, and will not be until such time as the statement is got ready for presentation to the court. Several members of the board of directors are inclined that way, and everything looks favorable." NORTH ST. PAUL BANK. Capt. H. A. Castle, president of the North St. Paul bank, said yesterday, speaking about the appointment of John F. Fitzpatrick as receiver of that institution, that he was assured the bank would be able to pay all its depositors in full. He said that the total deposits amounted to less than $22,000. while the petiti n for the receiver stated that the assets of the bank would amount to about $35,000. Capt. Castle said that he thought this was a trifle larger than it should be. The bulk of the money in the bank is public money, the deposits of the state, county, village and school district. Capt. Castle took hold of the bank about three years ago. At that time the officers in control of the bank were ready to throw up the entire matter, and Capt. Castle took charge to protect himself, he being on the bonds of the bank. In the three years he has had control the deposits have been greatly reduced, and it was the intention to further reduce the indebtedness and the capital stock until it reached a point where it was of the right size for a bank in a town the size of North St. Paul. As an instance of the way in which the indebtedness has been reduced Capt. Castle stated last evening that when he took charge of the bank it owed the state over $24,000, which amount has been reduced to $2,900. The reserve fund of the bank was deposited in the Allemannia bank. ATTACHMENTS ISSUE. NEW YORK, Jan. 8.-An attachment for $10,000 was issued today against property of the Allemannia Bank of St. Paul in favor of the American Exchange National bank on two bills of exchange made last week. The sheriff today received another attachment against the Germania Bank of St. Paul in favor of Houston M. Sadler for $3,249 on an assigned claim of the St. Paul Rubber company.

7. February 10, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, February 10, 1897

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BANK VERSUS BANK. West Side Wants Notes Held by the Allemannia, Charles F. Staples, as assignee of the West Side Bank of St. Paul, has brought an action in the district court against Maurice Auerbach as receiver of the Allemannia Bank of St. Paul to recover the possession of thirteen promissory notes, or the value thereof, aggregating $11,595. The plaintiff alleges that the notes belong to the West side bank and that Receiver Auerbach, of the Allemannia bank, has refused to deliver the notes to the piaintiff.

8. April 10, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, April 10, 1897

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# READY TO TRY AGAIN THE ALLEMANNIA BANK ASKS THE COURT TO APPROVE OF ITS PLAN FOR THE REORGANIZATION AND TO HAVE THE RECEIVER TURN OVER ALL THE PROPERTIES. MR. SCHEFFER'S APPLICATION. The Court Will Consider the Matter At the Special Term on May I. Albert Scheffer, president of the Allemannia bank, filed a petition in the district court yesterday on behalf of the majority of the unsecured creditors of said bank, asking the court to approve the plan of reorganization of the bank, set forth in the petition, to discharge the receiver from his trust and to direct him to return all property and assets of the bank remaining in his hands to the officers and directors of the bank. After setting forth the facts and circumstances which caused the Allemannia bank to close its doors and the subsequent appointment of Maurice Auerbach as receiver, Mr. Scheffer's petition continues: "That thereafter a majority in number and amount of the creditors of said bank, exclusive of the state of Minnesota and exclusive of such other creditors of said bank as are secured by lien or statutory preferences, formulated and agreed upon a plan of reorganization of said bank and of adjustment of its affairs; that this affiant is the committee of and for such depositors, and herewith presents to this court on behalf of said unsecured creditors a plan of reorganization." The plan of reorganization provides, first, for the payment in full of the state of Minnesota and all the secured creditors, and then for the payment of all unsecured creditors of said bank by issuing to each of them certificates of deposit of said bank for the full amount of their respective claims, payable in five consecutive annual installments of 20 per cent of said respective claims each, bearing interest at the rate of 2

9. May 5, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, May 5, 1897

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Assets. | Assets. | Bank's Valuation | Receiver's Valuation | | -------------------------- | ---------------- | -------------------- | | Bills receivable (new) | $247,485 03 | | | Bills receivable (old) | 368,931 69 | $113,267 48 | | Bills, receivable (in attorneys' hands) | 102,171 17 | 5,036 87 | | Judgments | 13,859 | 10,000 00 | | Stocks and bonds | 86,750 00 | 56,750 00 | | Overdrafts | 1,752 72 | 800 00 | | Due from banks | 9,913 05 | 1,658 32 | | Furniture and fixtures | 13,372 31 | 4,000.00 | | Bank building and lot | 60,000 00 | 30,000 00 | | Anchor Investment Co., open account | 21,255 70 | | | Cash and cash items | 18,331 29 | 16,160 65 | | | | $237,673 32 | There was owing to other banks by the Allemannia the following: Bank of Glencoe, Glencoe, Minn.... $691 93 Bank of Pine Island, Pine Island, Minn 1,699 73 Bank of Eureka, Eureka, S. D. 10,190 53 Bank of North St. Paul, North St. Paul, Minn 5,641 03 Commercial bank, Eau Claire, Wis. 2,156 72 German-American bank, Hastings, Minn. 4,301 97 German-American bank, Winona.. 120 10 Douglas County bank, Superior, Wis. 409 46 McLeod County bank. Glencoe, Minn 1,184 37 Redwood County bank, Redwood Falls, Minn. 65 94 Provident Trust Co., St. Paul, Minn. 6,209 31 Security Trust Co., St. Paul, Minn. 68 97 Exchange bank, Alma, Wis.... 184 82 First National bank, Chicago, Ill... 376 84 First National bank, Milwaukee, Wis. 52 54 Northwestern National bank, Minneapolis, Minn. 1,792 69 West Side bank, St. Paul, Minn. (reserve account) 10,000 00 Total .$45,147 15 City of Lisbon 300 00 Total .$45,447 15 Of the bills receivable amounting to $616,415.72 the receiver finds, in his judgment, $113,267.48 good, $33,252.42 of doubtful value, and $469,895.82 as worthless, or of little value. The total receipts of the receiver since taking charge of the bank are $50,402.47, of which $18,331.29 is made up of currency and coin, checks and cash items; $19,359.88 in bills receivable and the balance in sundry items. The total amount disbursed was $21,568.79, leaving remaining, cash on hand, $26,734.12, and cash items, $2,009.56. Since printing this report the Anchor Investment company has delivered to the receiver certain mortgages said to be collateral to notes of C. J. Alloway, the value of which cannot now be determined. The indebtedness of W. R. Merriam, both direct and as endorser, has been fully secured by the assignment to the receiver of 250 shares of the Superior Water, Light and Power company, and the assignment of sheriff's certificate of sale of lots 12, 13, 14, 15, 16, 17, 18, 19, 20 and 21, of W. R. Merriam's rearrangement. Schedule A shows the bills receivable discounted since the reorganization of the old Commercial bank, and includes about 400 bits of paper. Among the bills which reach or exceed $500 are the following: C. J. Alloway, $1,502.53, due Dec. 26, 1896. Same, $5,404.80, same. American Hoist and Derrick company, $500, Feb. 3, 1897. J. C. Bailie, five notes, $650, February, 1897. E. D. F. Barnett, $647.28, Jan. 15, jewelry stock security. J. P. Berchelm, $1,600, Nov. 26, John Wagener indorser, coal mining stock security. W. C. Bredenhagen, $2,633.65, tobacco stock security. Casserly & Prince, $506.67, Feb. 21. R. N. Cardozo, $500, March, 1897, two notes. J. W. Cooper, $1,000, check security. Delta Lumber company, $500, Feb. 25. H. E. Driese company, $500. J. G. Earhuff company, $1,050, March 17, Bank of North St. Paul security. Fleigler & Co., $524, Jan. 14. E. A. Fitzgerald, $1,100.14, May 2, stock security. German and Heckla syndicate, $10,309.31, Feb. 25. Grand Army Republic, $1,250, Feb. 8, certificate of deposit security. H. Grunhagen, $15,750.77, Feb. 4, security stock Elk laundry and life insurance. Nic Hardy, $1,006.74, March 10, stock Allemannia bank. Hauser Malting company, $8,587.15, March 29, security undivided interest in eighty acres near fair grounds held by William Dawson, trustee, unmortgaged. R. Igel, $500. Helen M. Johnson, $500, Feb. 8, security note for $5,000 signed by Hugh Thompson, A. D. Stevens and Marcus Johnson. A. M. Lawton, $530, March 20, security five shares Allemannia bank. C. H. and T. A. Lienau, $7,168.05, Feb. 1, security Volkszeitung Publishing company stocks and bonds. McDonald and B., $863.83, Feb. 24, warranty deed eighty acres St. Croix county, Wisconsin, chattel mortgage on horses and farm machinery. Sarah Mabon, three notes, $870. A. Mackenzie, $506.67, Dec. 30, 1896, J. H. Southall indorser. A. Mathews, $2,041.34, secured by 220 acres Sheridan county, Kansas, lot in New ston, Minneapolis, and woolen mill stock, gourney, Io. A. C. Mathews, $510.34, March 22, notes of C. C. Hatchard and C. Prosch, due September and October, 1897. W. R. Merriam, two notes, $23,100, demand.

10. May 5, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, May 5, 1897

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Liabilities. Time certificates of deposit $149,173 10 Time certificates of desposit, in- terest to maturity included 12,928 83 Demand certificates of deposit 6,808 34 Individual deposits subject to check 95,852 85 Cashiers' checks outstanding 3,190 03 Due State of Minnesota 37,033 33 Due County of Ramsey 25,730 15 Due City of St. Paul 120,479 17 Due to banks and bankers 45,147 15 Due City of Lisbon, N. D., coupon account 300 00 Certified checks 1,820 18 Bills rediscounted held by other banks 224,193 88 Capital stock 400,000 00 Undividued profits (less expenses) 56,858 83 Receiver's valuation of assets $1,179,515 84 The following is a statement of the valuations of the assets of the Alle- mannia bank showing both the valuations at which the bank carried the same on its books and the values placed upon the same by the receiver. Nearly all the receivables consist of past due paper. Not having any "quick assets," the valuation placed upon them by the receiver can only be realized by careful management:

11. May 14, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, May 14, 1897

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DIRECTORS OF THE ALLEMΑΝΝΙΑ ORDER AN ASSESSMENT ON THE STOCKHOLDERS. AMOUNTS TO ABOUT $200,000. ENOUGH EXPECTED TO BE PAID TO MEET THE BANK'S OBLI- GATIONS. IN THE PLAN OF REORGANIZATION It Is Not Proposed to Reorganize as a Bank of Discount and Deposit. After a somewhat protracted meet- ing, held yesterday afternoon in the of- fice of Dickson & Donnelly, a majority of the directors of the suspended Alle- mannia bank adopted a resolution pro- viding for the levying of an assessment of 50 per cent upon the capital stock of the bank for the general purpose of reorganization with a view to liqui- dating the obligations of the institu- tion. President Albert Scheffer, Vice Presi- dent William Hamm, Cashier E. De F. Barnett were on hand with enough of the directorate to make a quorum, and after some discussion the following resolution was framed and adopted: Resolved, by the board of directors of the Allemannia bank, That an assessment of 50 per cent be made upon the entire capital stock and against the stockholders of said bank, and that said assessment be made to facilitate the liquidation of said bank, and that the presi- dent take the proper and necessary steps to effect said assessment. It appears that the meeting was held to allow the agreement upon some such action as that taken, so as to allow a report to be made to the court tomor- row when an application will be made to have the assets of the bank returned to be used in liquidating its indebted- ness. No statement was made as to what action will be taken following favorable action by the court, the sen- timent being that the understanding be had now that the bank at this time is reorganizing merely to meet its obli- gations and not as a bank of discount and deposit. What will be done later is a matter which will depend very much on the times and surrounding conditions. As the capital stock of the bank is $400,000, the action taken yes- terday will raise $200,000, if all the as- sessments are paid, and this amount is said to be ample to meet the entire in- debtedness of the insolvent bank. Al- though the present standing indebted- ness of the Allemannia is about $490,- 000, it is provided that a majority in number and amount of the unsecured creditors may propose a plan of reor- ganization. The statement is made that over 90 per cent of the Allemannia unsecured creditors have joined in a plan which must of necessity provide for the payment of such preferred or secured claims as stand against the bank. The only preferred claim against the bank which will require cash outright is that of the state, in amount some- thing over $25,000, the others being re- discounts for which the bank is, of course, liable only as an indorser, and which will in a large degree pay for themselves under proper handling. There was little doubt expressed even before the meeting was held, the situ- ation having been pretty thoroughly canvassed, and the directors are con- fident that the plan to provide for the payment of dollar for dollar will meet the approval of the court. A meeting was held later in the evening with some of the attorneys to arrange the legal details of the petition which has been prepared, asking for the adoption of the reorganization plan.

12. May 19, 1897 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, May 19, 1897

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GRAND LARCENY CHARGED. President Scheffer of the Allemannia Bank Indicte I at St. Paul. ST. PAUL, May 19.-Another sensational indictment in the bank cases was reported by the grand jury late in the afternoon. the Allemannia bank has been among the list of those that failed during the past winter into whose affairs the grand jury have been looking, and this indictment was for grand larceny against Albert Scheffer, president of that bank. The ground for the charge is an overdraft of his personal account to the amount of $6,475. Mr. Scheffer has for several years been very prominent in Republican politics in the Northwest, serving in the state senate and being recognized as one of the leaders of the party. The Allemannia closed its doors because of a run inaugurated after some of the other banks had failed and has been going through the preliminary steps for reorganizing. President Scheffer was arraigned before Judge Lewis and released on $8,000 bail.

13. May 21, 1897 Little Falls Weekly Transcript Little Falls, MN
Article from Little Falls Weekly Transcript, May 21, 1897

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President Scheffer of the Allemannia Bank Indicted at St. Paul. Crime, Alleged Was an Overdraft of His Account of $6,475. Accused a Prominent Figuro in Minnesota Politics for Years. ST. PAUL, May 8.-Another sensational indictment in the bank cases was reported by the grand jury late in the afternoon. The Allemanna bank has been among the list of those that failed during the past winter into whose affairs the grand jury have been looking, and this indictment was for grand larceny against Albert Scheffer, president of that bank. The ground for the charge is an overdraft of his personal account to the amount of $6,475. Mr. Scheffer has for several years been very prominent in Republican politics in the Northwest, serving in the state senate and being recognized as one of the leaders of the party. The Allemannia closed its doors because of a run inaugurated after some of the other banks had failed and has been going through the preliminary steps for reorganizing. President Scheffer was arraigned before Judge Lewis and released on $8,000 bail.

14. May 26, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, May 26, 1897

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WAS OUT OF ORDER. Allemannia Creditors' Request for the Removal of Auerbach. Judge Kelly announced from the bench yesterday, his decision in the matter of the petition for the reorganization of the Allemannia bank, heard the day before, as announced in yesterday's Globe. The petitioners did not stick to the text of their petition and submit their plan of organization, but instead, asked the court to remove Receiver Auerbach from his trust and appoint in his place William Hamm, Bernard Kuhl and Edward Yanish, to serve without compensation. Judge Kelly denied the application, but, "without prejudice," which will permit another application, if the petitioners desire to make one. The application is denied because the petitioners submitted a proposition quite different from the petition on file, and of which the creditors had no notice. The memorandum of the court is as follows: "Conceding, for the sake of argument, that the court has power, summarily and without notice, to remove a receiver and appoint others, yet it is manifestly unjust and unwise to exercise such power in this case upon this notice. There are, I am told, in round numbers, 1,300 creditors and others interested in this bank. Not one of them could possibly spell out from this order to show cause, or from the petition upon which it is based, that merely a change in the receivers was intended. Necessarily, the proposed reorganization plan involved the winding up of the insolvency proceedings and the discharge of the receiver; yet the plan being abandoned or held in abeyance, does not make a change in receivers, even germane to the object stated in the notice served on the creditors. If I considered at this hearing this proposition to change the receiver, it would be for all practical purposes without notice to the parties in interest. "It goes without saying that any plan which will materially reduce the expense of the receivership is commendable. And if in addition, it result, as it is claimed, in increasing the collections from the bank's assets, it should be adopted. But possibly these 1,300 interested persons, or any considerable number, may not approve this proposed change. In any event they should have an opportunity to be heard."

15. June 17, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, June 17, 1897

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# GRAND JURY GRIND. City Officials Among the Number of Witnesses. The grand jury spent another busy afternoon yesterday. Several witnesses were called in, conspicuous among whom were City Comptroller McCardy, City Treasurer Horst, and William Hamm. It is supposed that the comptroller and city treasurer were required to testify concerning the deposits of city funds in the suspended banks, and more especially the Allemannia bank, which was the depository of $120,000 of the city's money. Other witnesses in attendance were A. De Barnett, Louis Betz, Ed Devitt, R. L. Ware, W. J. Wood, P. Cohenhower, of the Lehigh Coal company; N. Schrantz, Carl J. Siebold, E. J. Hodgson. Mary Atkinson also appeared before the grand jury to testify in the case of William Patton, who is charged with indecent assault. The only indictment returned was that against the two Zschau boys and George Jackson, as related elsewhere. The grand jury adjourned until 2 p. m. today.

16. June 17, 1897 The Saint Paul Globe Saint Paul, MN
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ALLEMANNIA DEPOSITORS. Meeting of Those Opposed to Present Reorganization Plans. A score of depositors of the Allemannia bank held a meeting at 15 East Third street last evening. Otto Silberman acted as chairman and secretary and a resolution was passed requesting the judges of the district court not to appoint as receiver of the bank any person who was interested in the institution as a stockholder nor the relative of any stockholder. It was stated that the appointment of William Hamm, Bernard Kuhl and J. M. Pottgeiser as receivers of the bank would not be in the best interests of the depositors. Mr. Silberman said it was just the same as appointing a man receiver of his business after he had failed. He was not blaming any person for working. for their own interest, but in his opinion none of the proposed receivers would feel like commencing suit against themselves to enforce the stockholders' liability. A committee of three, consisting of T. J. Kennedy, Jacob Copilovich and George A. Ladd, to which was added the chairman of the meeting, was appointed to confer with attorneys who had opposed the outside of M. Auerbach as receiver of the bank when the matter was up in the district court two weeks ago. This committee will report at an adjourned meeting of the depositors to be held at the same place Friday evening.

17. June 20, 1897 The Saint Paul Globe Saint Paul, MN
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# WHO WILL NOW SUCCEED HIM? # VIGOROUS PROTEST MADE AGAINST NAMING HAMM, KUHL AND POTTGIESER. # COURT TAKES UNDER ADVISEMENT. Several Creditors Represented by Attorneys Who Want Others Than These Selected. Who will succeed Maurice Auerbach as receiver or receivers of the Allemannia bank was the question thoroughly discussed before Judge Kelly at special term, yesterday afternoon. The matter of the resignation of Receiver Auerbach came on for hearing in the forenoon before Judge Kelly, Attorney Briggs appearing for the receiver and presenting his final account. The receiver's fees were placed at $3,600, and attorneys' fees at $2,500, covering five months of the receivership. The hearing in the matter of the appointing of a successor to Mr. Auerbach was continued to 2 p. m. The court room was filled with attorneys at that hour, John D. O'Brien representing 512 out of 1,000 creditors, whose deposits amount to $210,000, presented a petition signed by the 512 creditors asking for the appointment as receivers of William Hamm, Bernard Kuhl and J. M. Pottgieser. Fred G. Ingersoll, representing a number of objecting creditors, thereupon presented a petition signed by some thirty-five creditors and representing $21,000, protesting against the appointment as receivers of any officer, stockholder or debtor of the bank, or relative of any such officer, stockholder or debtor. Mr. Ingersoll said that his clients did not consider Messrs. Hamm, Kuhl and Pottgieser proper persons to be appointed as receivers, inasmuch as they were more or less affiliated with the interests of the bank, and were until quite recently stockholders thereof. Mr. Ingersoll was not prepared, however, to suggest the names of any persons for the position. Stan Donnelly here arose and stated that Mr. Pottgieser had not been a stockholder in the Allemannia bank since 1893. Humphrey Barton, on behalf of other objecting creditors, contended that justice required the appointment of some entirely disinterested person as receiver. There was no reason for appointing more than one receiver, who would prove just as efficient and less expensive. Mr. Barton was opposed to the appointment of a banker as receiver, inasmuch as the receiver, whoever he might be, was not employed to do a banking business; experience had shown that bankers were not the most successful business men. Mr. Barton urged the appointment of a fearless man in no wise connected with any of the banks. In conclusion, he hoped that it would not be deemed presumptuous if he mentioned or suggested the name of Arthur G. Otis, an honored member of the bar, and not a stockholder, officer or debtor of the bank. E. S. Durment, representing other objecting creditors, read to the court the affidavit of Catherine Jungmann, who has a deposit of $5,600 in the Allemannia bank, protesting against the appointment of Messrs. Hamm, Kuhl and Pottgieser as receivers. The affidavit alleged that the stockholders of the bank are using their influence and every means in their power to avoid enforcement of their liability, and are trying to secure the appointment of receivers who will not enforce such liability. The affiant further alleges that Albert Scheffer is in debt to the bank in the sum of $166,000, and that he and J. M. Pottgieser have opened an office in the Ryan hotel from which they have sent out circulars urging the appointment of Messrs. Hamm, Kuhl and Pottgieser as receivers. The affiant alleged that Messrs Hamm, Kuhl and Pottgieser are directors of the bank and were, until recently, stockholders thereof, but that they unloaded their stock shortly before the bank suspended. In conclusion the affiant asked that disinterested parties be appointed as receivers. Mr. Durment, as representative of other stockholders, also asked that the court appint disinterested parties. Stiles Burr and S. C. Olmstead made similar reuests in behalf of their clients. In behalf of the creditors urging the appointment of Messrs. Hamm, Kuhl and Pottgieser as receivers as well as on behalf of Albert Scheffer, G. M. Nelson in reply to the objecting creditors, contended that there was no force in the argument that they had been connected with the bank. As for the affidavit read by Mr. Durment, it was based simply on information and belief. There could be no justifiable objection to the three men named. Mr. Nelson cited the instance of the Bank of Minnesota where one of the receivers is a stockholder and the other a debtor of the bank. The question was who was the best qualified to convert the assets into cash. A suit to enforce the liability of the stockholders must be begun when directed by the court. There was no sense in the argument that these three men, if appointed receivers, would refuse or delay to bring such suit. These three gentlemen offered their time, energies and abilities for nothing. They were entirely competent because perfectly familiar with the affairs of the institution. No one had or could impugn their motives. It was to their interest to realize all possible from the assets, and it was therefore only right, reasonable and proper that they should be appointed. M. D. Munn, representing other objecting creditors, said that the feeling certainly existed that these three gentlemen were not sufficiently disinterested; whether that feeling was well founded or not, made no difference, inasmuch as it existed. It appeared to him that the court should appoint some one who could satisfy all parties, and he trusted that the person appointed would go to work in a practical manner to collect the assets without ruining anybody. In conclusion, Mr. Munn said that he trusted the court would not make the appointment at the immediate conclusion of the hearing. Judge Kelly replied that he would not, and announced that he would take the matter under advisement. This closed the hearing. The final account submitted by Receiver Auerbach is as follows: Receipts $61,799.07, and disbursements. $18,150.75; balance on hand, $13,648.32. Of the receipts, $10,331.29 is in cash and cash items; $5,818.47 is collections; bills receivable, $22,145; overdrafts, collaterals, $389.17. The total amount paid by voucher is $36,914.76, of which $4,000.73 is for expense account and $9,735.59 for deposits returned. The preferred claim by the state for $15,000 was duly paid, also life insurance premiums to the amount of $1,287.03.

18. September 16, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, September 16, 1897

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ganization set forth in the order are as follows: 1. To pay to the objecting creditors the amount of their respective claims in full. 2. To pay to the state of Minnesota any balance which shall then be due from said bank to said state. 3. To pay or arrange for the payment to the mutual satisfaction of the bank, the county of Ramsey and the city of St. Paul, the amount due to the county and the city. 4. To have returned to the Allemannia bank a certificate of deposit for $10,000 of the West Side Bank of St. Paul, now in the possession of the Mechanics' National Bank of New York, and to make adjustment and mutual offsets of the various claims as to the said bank and the West Side Bank of St. Paul. 5. To pay all of its unsecured indebtedness in five equal installments, and payable, respectively, in 1, 2, 3, 4, and 5 years after the date of the reopening of said bank under said reorganization plan, with interest from the date of such reopening at the rate of 2 per cent per annum. 6. To have an unimpaired capital stock of at least $100,000, and to have cash on hand to the amount of at least $100,000. Continuing, the order provides as follows: The said Allemannia bank, by its officers, shall present to Judge John W. Willis, at his chambers, Monday, Oct. 18, at 12 o'clock, or at such other time, not exceeding ninety days from the date of this order, which the said judge may, on Oct. 18, determine satisfactory evidence in the following facts: 1. That bank has an unimpaired capital stock of at least $100,000 paid up in cash or in approved secured evidence of indebtedness. 2. That it has placed in the hands of its receivers, John D. O'Brien and Timothy R. Palmer, for the parties respectively entitled thereto, the certificates of indebtedness covering all of its secured indebtedness made and executed in the manner and according to the terms and conditions in that behalf hereinbefore set forth. to be by said recoivers held for and delivered to said parties, respectively, on demand and upon the surrender by them to said receivers of such evidences of indebtedness as they may hold, and in place of which such new certificates are to be issued. 3. That bank is pledged to the careful, conservative and economical administration of its affairs, and that until the certificates are paid in full, the president and cashier will devote their whole time and attention to such administration, with salaries not to exceed in the aggregate $5,000 per annum. All other officers of the bank not occupying clerical positions and not devoting their entire time thereto, to receive no compensation for their services. 4. That in payment of the indebtedness of the bank there shall be no preference Or priority, save as herein provided, and all creditors of the same class shall receive like treatment and be paid equally and ratably, provided that the bank may Inticipate and make prepayment of any of its indebtedness upon such terms and conditions as its board of directors may from time to time prescribe, in case in their judgment the best interests of the bank will be thereby subserved. The stockholders present and past of the bank shall not in any way or to any extent be relieved from any existing liability by reason of the reorganization, except as to the amount which any such stockholder shall pay into said bank prior to the reorganization, and "the entry of said udgment of reorganization herein provided for shall operate as a bar to all proceedings and all suits and proceedings now pending against said stockholders or any of them for the enforcement of stockholders' liability, and all such suits and proceedings shall be thereupon dismissed by proper proceedings therein to that end. Speaking of the city's deposit of $120,000, Corporation Attorney Markham said yesterday that he was informed that the officers of the bank were preparing a proposition to be submitted to the common council relative to the payment of the bank's indebtedness to the city. If the proposition was satisfactory to the council it would be accepted. In the meantime the city does not waive any of the rights possessed by the objecting creditors. The immediate payment of the $120,000, Mr. Markham said, was out of the question, as it was impossible to get that amount out of the $100,000 the bank will have on hand when it reopens. Should the bank's proposition prove

19. February 3, 1898 The Saint Paul Globe Saint Paul, MN
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will build a $1,000 frame house on Tuscarora street, near Chatsworth. # Residence Scorched A two-story frame dwelling at 2503 Riverside avenue, Minne- apolis, was damaged to the extent of $100 yesterday afternoon. The fire originated in some unknown cause at the rear of the sec- ond story and burned the roof and rear walls. # January in Court The report of the municipal court at Minneapolis for the month of January is ready. It shows a total of 311 cases tried in the criminal branch. The itemized list is as follows: Drunkenness, 96; disorderly conduct, 15; vagrancy, 46; assault, 16; petit larceny, 32; grand larceny, 12; keep- ing disorderly houses, 27; c. p.'s, 2; violat- ing liquor laws, 3; gambling, 2; incorrigibil- ity, 2; embezzlement, 2; miscellaneous of- fenses, 33. # His Arm Snapped E. B. Wakeman, superintendent of the Minneapolis union depot, broke his right arm just above the wrist Tuesday evening. Mr. Wakeman slipped on a sidewalk while walking in East Minneapolis, with the above result. He was taken home and will be incapacitated for some time. # Relief Society Needs Secretary Hutchins, of the St. Paul Relief society, writes: We need a bedstead, bedding, small heating stove and a cooking stove, clothing, etc., for a family just burned out on the flats. We are also much in need of a man's overcoat, some infant's clothing and an invalid's chair. # Gets the Press Carter, Rice & Co., of Minneapolis, has sued the Cream of Wheat company, of North Dakota, for possession of a printing press. Judgment has been or- dered for the plaintiff, and the defendant or- dered to give up the property, or pay $1,250 therefor. # Contagious Diseases Scarlet fever has been reported at the health office existing at 847 Woodbridge street; diphtheria at 471 Ful- ler street. # Will Consider Paving This afternoon the board of public works will consider the proposed paving of Summit avenue from Sixth to Jackson, and also portions of Min- nesota and Cedar streets. # Winnipeg Official Here Dr. Maxwell E. Inglis, commissioner of health at Winni- peg, called upon Health Officer Stone yester- day, with a view of gaining some idea of the workings of the St. Paul health department. # Taken By Mistake Henry Ott, accused of the theft of an overcoat, in a trial be- fore Judge Twohy yesterday, satisfied the court of his good character and was dis- charged. Ott testified that he had taken the coat by mistake for his own. He said he had been asleep and awoke in a confused condition. In view of other testimony show- ing Ott to be a hard-working young man, the court ordered his discharge. # Municipal Court Receipts The monthly report of the clerk of the municipal court shows receipts for January in the amount of $1,238. The major portion is from fines collected in the criminal branch of the court, only $129 accruing from the civil branch. The total amount is $459 below the receipts for December. # Candlemas Day The Catholic church yesterday celebrated the feast of the purifica- tion of the Blessed Virgin, popularly known as Candlemas day. There were services in all the churches of that denomination, at which candles for use in homes, on the altars and in the sacraments were blessed. # Assembly Meets Tonight A regular meeting of the assembly will be held this evening. The street railway ordinance passed by the board of aldermen will be the im- portant matter to be considered. # Offer of the Allemannia The committees on ways and means from the alder- men and assembly will have a joint session at 7 o'clock this evening to consider the proposition of the Allemannia bank for an adjustment of the $120,000 of city funds which was on deposit when the bank sus- pended. After the committee meeting is over the aldermen will hold an adjourned session to take action on the proposition.

20. May 1, 1898 The Saint Paul Globe Saint Paul, MN
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ment of Details. The reorganization of the Allemannia bank was practically decided upon, in special term before Judge Willis yesterday, where the entire day was spent in consideration of the questions bearing upon the case. The matter went over, however, without formal adjustment, until April 16, when the final order granting the permission to reopen the bank's doors, it is understood, will be granted. The reorganization plan provides that all creditors objecting to the reorganization shall be paid in full and that the unsecured indebtedness shall be paid in five equal installments. These installments will be paid yearly In one, two, three, four and five years, with interest at 2 per cent. Edward Yanish will be the president of the reopened bank and E. J. Devitt will be the cashier. It Is provided that these two officers shall give their entire attention to the affairs of the institution and shall receive as compensation a salary aggregating not more than $5,000 per annum during the existence of the reorganization plan. The capital stock of the bank is provided for in the sum of $100,000. There is at present $20,000 in the hands of the receivers. In granting a continuance of the case Judge Willis directed an accounting of the receivers April 16. During yesterday's proceedings there were but few objectors among the creditors of the bank to the plan of reorganization and the demands of such of these were met and in a manner leaving no obstacles in the way of the bank resuming business. When the final order of the court is made two weeks from yesterday the institution will be at liberty to open its doors as soon as those having its affairs in charge shall desire. The bank expects to open in the building formerly occupied by the old Commercial bank at Third and Robert street. The Allemannia bank closed its doors Jan. 3, 1897. Shortly afterward Maurice Auerbach was appointed receiver. Mr. Auerbach subsequently resigned and was succeeded by Edward Yanish. The petition of Albert Scheffer, on behalf of a majority of the creditors for the reorganization of the bank, was filed April 9, 1897, and the matter has since been in litigation in the district seourt.

21. May 27, 1898 The Saint Paul Globe Saint Paul, MN
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BANK TO REOPEN TODAY ALLEMANNIA TO RESUME ON EAST THIRD STREET Judge Willis Formally Announces in District Court the Terms on Which the Reorganization Is to Be Permitted-Those Who Helped With Cash Are to Be Exempt From Further Liability. The Allemannia bank will throw open Its doors for business this morning, under an order issued by Judge Willis in the district court yesterday afternoon. The reorganization plan was formally submitted to Judge Willis in chambers yesterday by the creditors and an hour later the final judgment and decree. authorizing the bank to again begin business and approving of the reorganization plan, were filed. In his decree Judge Willis deals in a brief way with the indebtedness of the bank and the plans that have been made to discharge the obligations. He approves of the reorganization plan and confirms it, and orders that title to all property in the hands of the receivers pass to the bank. Under the decree the bank is compelled to resume business today and will at once pay to the city in cash $24,770.51, and certificates of indebtedness for the balance due. $5,289.12 must be paid at once to Ramsey county with certificates of indebtedness for the balance due and the state will receive in cash $20,482.80. It is further ordered that all the creditors objecting to the reorganization plan, sixteen in number, shall be paid in full. These sixteen claims aggregate $14,496.54. The remainder of the indebtedness will be paid in five equal installments, one, two, three, four and five years from date. All creditors with unsecured indebtedness are restrained from enforcing or attempting to enforce payment of their claims except in accordance with the plans of reorganization. It is provided that the capital stock shall be reduced to $100,000, but the present stockholders shall not be released in any way from any existing liability by reason of the reorganization, except those that have, prior to the reorganization, paid into the bank money to aid in the reorganization. Such stockholders are released from further liability on the amounts so paid in. Judge Willis states that the entry of the decree shall operate as a bar to all further proceedings in any and all suits and proceedings now pending in the courts against the stockholders of the bank in the enforcement of stockholders' liability, and that all such suits are to be dismissed on eight days' notice. It is provided that until the indebtedness of the bank is satisfied the president and cashier shall give their undivided attention to the affairs of the bank at a joint salary not to exceed $5,000 per year, and that no other offlcials in the bank, except those occupying clerical positions, shall receive pav. With the decree of Judge Willis was filed the final report and account of the receivers, Timothy R. Palmer and J. D. O'Brien. The report shows that the total receipts from all sources were $59,430.97, of which $30,525.97 was for notes, rents, interest, etc., and $28,905 amounts paid in by stockholders and others. The total amount of bills receivable collected was $18,255.47. The total disbursements were $9,449.51 and cash on hand, $49,981.46.

22. May 28, 1898 The Saint Paul Globe Saint Paul, MN
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CITY WAS PAID EARLY. Allemannia Bank Pays Off an Old Obligation. City Treasurer Horst yesterday received the first installment of the moneys to be paid to the city under the plan of reorganization of the Allemannia bank. It was in the form of a check for $24,770.51, which was perfectly good. The payment is the first made of five that were provided for. The payments were arranged and the pledges put in tangible form by the issuance of five certificates of deposits ranging over a period of five years. By an understanding arrived at with the city treasurer the last of these certificates was paid first, and the others will be paid at the end of each year for four years. State Treasurer Koerner also received $21,482.60, that being the sum which the state had in the Allemannia bank at the time that it suspended.

23. October 2, 1898 The Saint Paul Globe Saint Paul, MN
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# WILL BE RESTORED. Missing Order in the Allemannia Bank Case. Judge Brill, in special term yesterday, directed that the lost order in the Allemannia bank case be restored to the files. The paper which is missing is an order made by Judge Kelly May 25, 1897, dismissing the petition for the dismissal of Mr. Auerbach as receiver and the appointment of Messrs. Yanish, Hamm and Kuhl as receivers in his place. This petition was dismissed without prejudice. Subsequently, during the absence from the city of Judge Kelly, the Allemannia bank reorganization came before Judge Willis and such proceedings were had as to permit the bank to reopen according to stipulated plans. After hearing arguments of counsel Judge Brill said that he would make an order that the missing order be filed, as it was proper that it should be so filed to preserve the record, but he would in no wise decide at this time any other question which counsel might claim followed the order. The filing of the order of Judge Kelly, it was held, could in no way affect the rights one way or the other. The court declined to dismiss the order of Judge Willis. The hearing was on an order to show cause why the lost order should not be replaced, the petitioners being the Armour Packing company, Cudahy & Co., Schwarzschild & Sulzberger Beef company, Nelson Morris & Co., Swift & Co., National Beef company and P. S. Schufeldt. The claim of the petitioners against the bank amounts to $1,050.

24. May 1, 1899 The Saint Paul Globe Saint Paul, MN
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DEBTS OF ALLEMANNIA. Mr. Welz's Application Suggests a Hitch in the Plans. The application made to the board of county commissioners by F. R. Welz, that a settlement be made by the county for $7,000 in cash to cover the $20,000 due from the Allemannia bank, is under consideration. When the Allemannia closed its doors in January, 1897, it had on deposit $25,000 belonging to the county and $123,000 of the city funds on its books. Receivers were appointed, and after these officers were discharged and the bank started on a reorganization an agreement was made by which one-fifth of the amounts due the county and city were paid in cash, and the balance to be met, with certificates of indebtedness running for four years and drawing 2 per cent interest. The county treasury received $5,289.12 as the first of the five payments, and the city treasury received $24,770.51. The other certificates, the first of which are due and payable to the city and county next month, are in the hands of the respective treasurers. The application of Mr. Welz, who is one of the securities on the bond given the county by the bank, would indicate that there will be some hitch in the payment of the first certificate due the county by the reorganized bank. In fact Mr. Welz, in his application, states that the certificates cannot be paid by the bank. Edward Yanish, president of the reorganized Allemannia bank, seen Saturday evening, said he did not care to discuss the matter. As to whether the bank would again go into the hands of a receiver Mr. Yanish also declined to discuss. The agreement made between the city and the bank provides that in case of failure to pay any of the certificates given in the settlement action shall be commenced against the sureties on the bond given the city for the original deposit. The first certificate, for $24,770.51, given to the city is due May 23. City Treasurer Horst stated that he had heard nothing about the possibility of a default in the payment of the first certificate given by the bank. The amount still owing the city is $99,082.04.