9955. Savings Bank (St Paul, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
July 7, 1899
Location
St Paul, Minnesota (44.944, -93.093)

Metadata

Model
gpt-5-mini
Short Digest
dd557ba8

Response Measures

None

Description

State bank examiner Gen. Pope took possession and the court moved toward appointment of a receiver. Depositors gathered at the closed bank, but articles do not describe a classic depositor run prior to suspension; closure resulted from examiner action and insolvency findings. Receiver and liquidation proceedings followed.

Events (3)
1. July 7, 1899 Suspension
Cause
Government Action
Cause Details
State Public Examiner Gen. Pope took possession of the bank in the interest of depositors after examinations showed capital lost and impaired assets; ordered closed by the examiner at direction of governor
Newspaper Excerpt
Public Examiner Pope and his deputies took charge of the Savings Bank of St. Paul late yesterday afternoon
Source
newspapers
2. July 9, 1899 Other
Newspaper Excerpt
From early yesterday morning long before banking hours ... the sidewalk in front of the Savings Bank of St. Paul ... was obstructed by groups of people. The publication ... that Bank Examiner Pope had taken charge ... was a surprise and a shock to the general public.
Source
newspapers
3. July 9, 1899 Receivership
Newspaper Excerpt
Application made for a receiver ... Judge Brill issued an order to show cause why application for a receiver should not be granted; complaint states entire capital stock is lost and assets impaired upwards of $200,000. Receiver E. J. Hodgson later served as receiver (Edward J. Hodgson). (articles Jul 9 and later mention receiver).
Source
newspapers

Newspaper Articles (24)
1. July 8, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, July 8, 1899

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POPE TAKES CHARGE SAVINGS BANK OF ST. PAUL IS CLOSED BY THE PUBLIC EXAMINER RECEIVER TO BE ASKED FOR The Institution Holds Over a Million Dollars in Deposits, and Was Considered Entirely Sound-Some of Its Real Estate Securities Are of Doubtful Worth-Expenses Are Said to Have Exceeded Revenue. Public Examiner Pope and his deputies took charge of the Savings Bank of St. Paul late yesterday afternoon in the interest of the depositors and other creditors of the institution. The announcement will no doubt be received with surprise by the public. Public Examiner Pope follows his action with the statement that the other savings banks of the city have been thoroughly examined and found to be solvent. The condition of the Savings Bank of St. Paul has been receiving the attention of state officials at intervals since the first of the year, and final-action only delayed in the hope that some arrangement might be made whereby the bank could continue business, and at the same time fully protect the depositors. This was found to be impracticable and Gov. Lind yesterday directed Gen. Pope to take possession of the assets, and requested Attorney General Douglas to make application for a receiver. Gen. Pope last night, for the information of the public, made the following statement to the Globe: OFFICIAL STATEMENT. State of Minnesota, Office of Public Examiner-To the Public: After a careful examination and consideration it has been determined, in the interest of the savings depositors of the Savings Bank of St. Paul, that the superintendent of banks should take possession of the books, records and assets of every description of said bank and hold the same pending an application to the district court of Ramsey county for a receiver. In this connection and to allay unnecessary anxiety I desire to say for public information that this department has recently made a careful examination of each and every savings bank in this city, and, with the single exception above noted, has found each and every one to be solvent and fully able to carry out all their obligations to depositors and other creditors. It is yet too early in the day to anticipate the amount which the creditors will get out of the assets of the bank, as it is difficult to estimate just how much will be derived from the enforced liquidation. The bank carries on its books something over a million dollars in deposits, and a good deal of the real estate property is considered as doubtful security. Several examinations have been made of the condition of the bank and a rough draft of the condition of the concern at the close of business yesterday gives the following result:

2. July 8, 1899 The Labor World Duluth, MN
Article from The Labor World, July 8, 1899

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CLOSED BY POPE. Savings Bank of St. Pul Forced to Suspend. ST. PAUL, July 7.-The Savings Bank of St. Paul, established in 1867, capital $100,000, Thomas A. Prendergast, president, has been compelled to close its doors. The deposits exceeded $1,000,000. The bank was closed by State Bank Examiner Pope, who says it had an excessive amount of

3. July 9, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, July 9, 1899

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SURPRISE AND SHOCK NEWS OF THE CLOSING OF THE SAVINGS BANK OF ST. PAUL CAUSED A BIG COMMOTION Five Thousand Depositors, None of Whom Had Any Intimation That the Institution Was Not Solvent Until They Read of Its ClosingApplication Made for a Receiver -Effect on Other Banks. From early yesterday morning long before banking hours and until after dark last night the sidewalk in front of the Savings Bank of St. Paul, at Sixth and Cedar streets, was obs-ructed by groups of people. The publication in the Globe yesterday morning that Bank Examiner Pope had taken charge of the institution in the interest of the depositors and creditors was a surprise and a shock to the general public, and more SO to the depositors of the bank. The scenes around the door of the bank during the day were anything but pleasant. The window curtains were closely drawn, and a small card on the door stated briefly that the bank examiner of the state had taken charge VI the institution. The crowd at 9 o'clock numbered 100 persons, and all seemed to have but one object in view, and that was to get near enough to the door of the bank to read the notice. This having been done the depositors gathered in groups, and fell to discussing the situation of affairs, sympathizing with each other, and arguing as to the amount which the bank would pay the depositors. Gen. Pope placed J. O. Davis and Capt. Compton of his staff in charge, and these gentlemen will remain until the court has appointed a receiver. The application for a receiver was made by Assistant Attorney General Donahower before Judge Brill in the district court yesterday morning. After reading the complaint, and hearing the assistant attorney general briefly Judge Brill issued an order to show cause. why application for a receiver should not be granted. The order is returnable Monday morning at 10 o'clock. The complaint on which the application is based sets forth that according to the report of the public examiner the entire capital stock of the bank, amounting to $100,000, is lost, and that in addition the assets of the bank are impaired to an amount upward of $200,000; that its annual business for a period of four and one-half years past has been conducted at a loss of $20,000 per annum. It further alleges that prior to the 6th day of May, 1899, the defendant loaned of the assets of the bank, in direct violation of law, the aggregate sum of $43,619.06 to divers trustees and employes of the bank. The examination of April 22 showed that on that date the aggregate liability of the bank to its depositors and stockholders amounted 'to the sum of $1,170,517.48. The book value of the assets is placed at $1 48 divided

4. July 9, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, July 9, 1899

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SURPRISE AND SHOCK NEWS OF THE CLOSING OF THE SAVINGS BANK OF ST. PAUL CAUSED A BIG COMMOTION Five Thousand Depositors, None of Whom Had Any Intimation That the Institution Was Not Solvent Until They Read of Its ClosingApplication Made for a Receiver -Effect on Other Banks. From early yesterday morning long before banking hours and until after dark last night the sidewalk in front of the Savings Bank of St. Paul, at Sixth and Cedar streets, was obs-ructed by groups of people. The publication in the Globe yesterday morning that Bank Examiner Pope had taken charge of the institution in the interest of the depositors and details creditors was a surprise and a shock to the general public, and more so to the depositors of the bank. The scenes around the door of the bank during the day were anything but pleasant. The window curtains were closely drawn, "and a small card on the door stated briefly that the bank examiner of the state had taken charge VI the institution. The crowd at 9 o'clock numbered 100 persons, and all seemed to have but one object in view, and that was to get near enough to the door of the bank to read the notice. This having been done the depositors gathered in groups, and fell to discussing the situation of affairs, sympathizing with each other, and arguing as to the amount which the bank would pay the depositors. Gen. Pope placed J. O. Davis and Capt. Compton of his staff in charge, and these gentlemen will remain until the court has appointed a receiver. The application for a receiver was made by Assistant Attorney General Donahower before Judge Brill in the district court yesterday morning. After reading the complaint, and hearing the assistant attorney general briefly Judge Brill issued an order to show cause why application for a receiver should not be granted. The order is returnable Monday morning at 10 o'clock. The complaint on which the application is based sets forth that according to the report of the public examiner the entire capital stock of the bank, amounting to $100,000, is lost, and that in addition the assets of the bank are impaired to an amount upward of $200,000; that its annual business for a period of four and one-half years past has been conducted at a loss of $20,000 per annum. It further alleges that prior to the 6th day of May, 1899, the defendant loaned of the assets of the bank, in direct violation of law, the aggregate sum of $43,619.06 to divers trustees and employes of the bank. The examination of April 22 showed that on that date the aggregate liability of the bank to its depositors and stockholders amounted to the sum of $1,170,517.48. The book value of the assets is placed at $1,170,517.48, divided, as follows:

5. July 11, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, July 11, 1899

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SIZE UP THE ASSET JUDGE BRILL WILL NAME TW COMMITTEES TO EXAMINE THE HOLDINGS OF THE SAVINGS BANK CLOSE Three Bankers and Three Real E. tate Men to Be Selected-In th Meantime the Affairs of the In stitution Will Be Looked Afte by E. J. Meier, While Bank Ex aminer Will Remain in Charge. Judge Brill yesterday, in the district court, decided to appoint two commi tees, one of three real estate men to a) praise the real estate, and the other . three bankers to appraise the other a sets of the defunct Savings Bank of S Paul. The court also filed an order a pointing E. J. Meier, cashier, and one the trustees, to carry on the business unt July 20, when the matter will again con up before Judge Brill, at 10 a. m. T1 possession of Cashier Meier, under tl order, is to be in connection with the bar examiner, but Mr. Meier will "have fu authority to perform all acts and cari out the provisions of this order witho the authorization of the bank examiner Mr. Meler is authorized to retain su employes as may be necessary and keep full account of the moneys paid o and received, and a record of the busine transacted to report to the bank e aminer. It is also ordered that the d fendants shall have to July 15 in which prepare their answer to Attorney Ge eral Douglas. The court room was thronged yeste day when the case of the state ex r W. B. Douglas against the Savin Bank of St. Paul was called before Jud Brill, in the district court. The heari was on an order to show cause why a I ceiver should not be appointed. Amor those who crowded the court room wer Thomas Prendergast, president of t bank; J. F. Hoyt, J. C. Prendergas James King, W. P. Murray, Jam O'Brien, William Lee, J. N. Roger Thomas Cochran, E. S. Horton, D. Smith, W. H. Mead, Frank Hanson, N. Bell, John Prince, Dr. Ancker, .De nis Ryan, W. H. Lightner, Phil Schwel zer, John Caulfield and James A. Nowe No opposition developed during t hearing to the plan submitted by ti representatives of the trustees and stoc holders, and after an argument with \ J. Donahower, representing the attorn general, the court acquiesced to a prop sition for a continuance until July 20. C. D. O'Brien and M. D. Munn, atto neys representing the bank, stated th the bank examiner had made a grievo mistake and proposed to substantia their declaration at the proper tin through competent testimony of undoub ed credibility. W. J. Donahower asked the court for continuance for the present. Mr. O'Brien addressed the court, spea ing substantially as follows: REPRESENT THE BANK. "Mr. Bell, Mr. Munn and myself a here today to represent the bank, ar we propose to put in issue here the all gations made by the bank examiner insolvency, mismanagement, of any u: lawful act, or undue borrowing by tl officers of this bank-in short, we wis to put in issue the entire complain There is another matter to be raised b fore the court at the proper time, ai that is the jurisdiction of the bank e: aminer, for we claim that by the tern of the law under which this bank ha been doing business the bank examin has no such power over the bank which he has taken possession. As to the CO

6. July 13, 1899 Elmore Bulletin Rocky Bar, Mountain Home, ID
Article from Elmore Bulletin, July 13, 1899

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space au one exposi" tion. Mrs. McKinley. who has been prostrated by the warm weather, is improving. Kansas rivers are out of their banks and doing considerable damage. There have been recent heavy rains. An earthquake shock was felt in Cal Ifornia Friday. The vibration was from east to west. No particular damage was reported. Governor Pingree of Michigan, denies that he is in a combine with Secretary Alger to control state politics and put Alger in the senate. The health of the United States troops in Havana is remarkably good and makes a better showing than at many posts in the United States. Willard E. Baker, wanted in Boston for embezzlement. escaped from two police officers from that city in San Francisco and has not been captured. Queen Victoria entertained a number of American ladies at tea last week. They were delegates to the Internaional Congress of Women, which meets in London. At Pittsburg orders have been issued for the resumption on Monday of all idle coke ovens and all ovens heretofore run five days a week will be put on full time. Nothing is known in Vienna confirmatory of the published story of revolutionary disturbances at Solia, Bulgaria. In official@quarters the report is utterly discredited. The Savings bank of St. Paul, Minn. established in 1867, capital $100,000, Thomas A. Pendargast. president, has been compelled to close its doors. Deposits exceed $1,000,000. The flood situation in Texas is not abating. People all over the Brazos valley are being taken off high knolls to which they have been driven, almost perished from exposure. The London Times announces that several officers have been ordered to proceed to South Africa to organize the residents as well as the police and local forces at various points in the frontier. The ten regiments of volunteers will be equipped throughout as are the regulars. The ordnance department has on hand a sufficient supply of Krag Jorgensen rifles and other arms to equip the regiments. Governor Rogers of Washington has refused the request of the governor of Idaho for the extradition of Francis Butler, who, it is alleged, was implicated in the recent miners' riot. He is charged with murder. It is regarded a probable that Gen. eral Faure Buguel will be appointed military governor of Paris and that General Zurlinden, the present incum bent of that post, will be transferred to the command of an army corps. The contract for building the Palmer and Auburn cut-off of the Northern Pa. cific was let to P. J. Henry of Seattle and Nelson Bennett of Tacoma. The contract price for building the twentytwo miles of tr ack is understood to be about $400,000. The Ohio Association of Democratic clubs was organized in Columbus Friday, with General E. B. Findlay of Bucyrus as permanent chairman and Charles L. Swain of Cincinnati, secretary. The association delared for Bryan. Ambassador Choate and Lord Salisbury are almost deadlocked over the modus vivendi fixing the boundary between Alaska and the British possessions. Neither side will accept the provisional line proposed by the other. Mrs. May Wright Sewall, president of the United States Council of Women's International congress, has been elected to succeed the Countess of Aberdeen as the president of the congress, which will hold its next session in Berlin. The Transvaal government has decided to prosecute on charge of high treason the three principal defendants whose complicity in the recent attempt to promote a rebellious rising at Johannesburg has been for several weeks under judicial investigation. The agricultural bank has been organized at Santa Clara, Cuba, by a number of prominent citizens, including the mayors of various towns in the province. The bank proposes to lend farmers amounts necessary to cultivate their lands. Advices from Dawson say that the steamer Robert Kerr left there on June < to with over $3,000,000 in gold dust, for St. Michaels, where she will touch t 1 en route to Seattle. At St. Michael she will take on additional passengers and more gold. t Rioting at Barcelonia still continues A mob stoned a number of shops an t were charged by the police. The mo a

7. July 13, 1899 River Falls Journal River Falls, WI
Article from River Falls Journal, July 13, 1899

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in Indianapolis of osteopathists. At Carthage, Mo., James McAfee was hanged for the murder of Eben Brewer, a merchant of Joplin, whom he attempted to rob July 30, 1897. In a quarrel over getting married Charles Saltzman and Miss Kate Horfoldsteimer fought a duel with revolvers in a buggy near Seatonville, III., and both were fatally injured. At the age of 102 years F. M. Chapman died at Kingston, Tenn. He was the first captain to operate a steamboat on the Tennessee river. Reports from 250 cities and towns in the United States show that 33 persons were killed and 1,730 injured by accidents on the Fourth of July. In California a severe shock of earthquake was felt from San Francisco to Monterey. In Kentucky the socialist labor party met in Louisville and nominated a state ticket headed by Albert Schmutz, of Louisville, for governor. The latest news from Texas says that the entire valley of the Brazos, from Brenham on the north to its mouth at Quintana, is flooded, and its current is filled with the debris of wrecked houses, stock and farming implements. Secretary of War Alger has placed at the disposal of the governor 10,000 rations to be supplied to the destitute and famishing sufferers. A hail and windstorm devastated the country for miles around Kendalls, Wis., ruining large tracts of valuable timber. Fire wiped out the mining town of Coulterville, Cal. At Bakus, Minn., Ed Cinch, a dealer in general merchandise, shot his wife and then committed suicide. In Chicago August Albert Becker was found guilty of wife murder and sentenced to be hanged. Several persons were injured in a wreck on the Chicago, Burlington & Quincy railroad at Waldron, Mo. The chairman of the reorganization committee of the Wisconsin Central railway lines bid in the system in entirety for $7,300,000. The oldest savings institution in Minnesota, the Savings bank of St. Paul, closed its doors with deposits of nearly $1,000,000. At Medina, O., burglars tried to rob the country treasury, but were frightened away after they had blown off the outer door of the safe. In Texas many plantations are still under water and hundreds of persons who had taken refuge on a mound three miles below Sealy are slowly perishing for want of food. In Columbus a state organization to be known as the Ohio Association of Democratic Clubs was formed to disseminate democratic principles as enunciated in the last democratic platform. The death of John H. Stallings, 108 years of age, occurred near Sevierville, Tenn. At the age of 82 years George W. Julian, several times a congressman and at one time one of the most prominent men in national affairs in the west, died at his home in Irvington, Ind. Yellow fever caused the death in Santiago of Maj. Joseph Heatwole, chief commissary of Cuba. He was a resident of Indiana. La in Dt One the No

8. July 16, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, July 16, 1899

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LET IT BE REORGANIZED The citizens of St. Paul generally, whether depositors in the Savings Bank of St. Paul or not, will rejoice at the announcement which appears in our local columns that the trustees and stockholders of the bank have taken up the work of reorganizing that institution. It is clearly the duty of the trustees and stockholders to devote themselves earnestly to the task of seeing that every dollar's worth of assets held by the bank goes to the depositors. The people of this community have received too many object lessons as to the enormous expense of receiverships, even with the most economical management possible, and it is highly gratifying to find that the gentlemen who have had charge of the savings bank realize this, and have determined that their efforts at least shall be directed to avoiding the disastrous consequences of a receivership. It is not claimed by any person that the assets of the bank fall SO far below its liabilities but that the depositors will be paid most, if not all, of their claims. The most sanguine friends of the bank confidently assert that under the improved business conditions there will be a surplus after paying the depositors in full; while the most pessimistic concede that the assets are worth at least 75 per cent. Both of these claims, of course, are based upon the theory that the assets will be carefully nursed; for it is conceded upon all sides that, if litigation is to continue, two or more receivers to be appointed, and the assets thrown upon the market and sold at a forced sale, great loss is inevitable. There is no question but that the condition of the bank is the result of the business depression which has existed for the past few years. It will not be claimed by any person that the management of the bank has fraudulently diverted any of its assets. The bank has been compelled to keep invested in real estate a large proportion of its deposits. Necessarily the unprecedented fall in the prices of real estate has been injurious to the bank, but everything that the bank has received is now available to pay its depositors. In any plan of reorganization which may be adopted it must be expected that the depositors will consent to an extension for the payment of their claims in full; and it would further seem, naturally, that the trustees would be unable to absolutely guarantee the full amount of each depositor's claim, but there is no reason why the trustees and public officials should not be able in the course of the next few days to formulate a plan in which they could definitely state to the depositors when and what proportion of their entire claims could be paid to a moral certainty, with the further provision that, after that amount has been paid, the residue shall be applied to the payment of the remainder of the claims, so that the depositors may feel assured that they are getting the full benefit of all the assets of the bank in the speediest possible manner, and at the lease possible expense. It has often happened in the past that the officers of financial institutions have been overwhelmed and have given up in despair when disaster has overtaken them. This makes the spirit shown by the officers of the Savings Bank of St. Paul the more commendable, and in their efforts to carry out the laudable intentions they can, the Globe believes, feel secure of the sympathy and support of the people of St. Paul.

9. July 21, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, July 21, 1899

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DOLLAR FOR DOLLAR THAT IS WHAT DEPOSITORS OF ST. PAUL SAVINGS BANK EXPECT SENATE CHAMBER MEETING Committee Not Ready to Make Full Report, as the Time Allowed Was Too Short-It Is Demonstrated That Affairs of the Bank Are in Such Shape That the Appointment of a Receiver Can Be Avoided.

10. July 25, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, July 25, 1899

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A meeting of the trustees of the Savings Bank of St. Paul was held yesterday afternoon and a plan talked over which has the approval of Bank Examiner Pope and will obviate the necessity of the appointment of a receiver. Another meeting of the trustees will be held this morning at 11 o'clock, and the minor details of the plan decided upon. The plan is to petition the court to allow the bank to go into voluntary liquidation, with four of the trustees to be elected by the full board to have charge of the affairs of the institution. This plan will permit the bank to open its doors and receive new deposits, and avoid the expense of a receivership. In short the plan is more for a continuance than a reorganization, and as it appears to be the best plan that has been submitted, and is for the interest of all parties concerned, it will doubtless be allowed by the court, if the necessary number of depositors' signatures is secured. A paper will be immediately circulated among those holding pass books for their signatures, and if 85 per cent of the depositors favor this course the affairs of the bank will be wound up by liquidation. The following, without any of the smaller details, is the plan which has been submitted to the bank examiner and which has been approved and will doubtless be adopted at today's meeting and submitted to the depositors: First-The immediate payment of 15 per cent on all deposits. Second-The payment of 60 per cent within the next three years, or 20 per cent in each of the years, 1900, 1901 and 1902; 20 per cent to bear interest at 2 per cent from July 1, 1900. Third-The balance of the 25 per cent in residue certificates, to be payable without interest, July 1, 1903. All of the assets of the bank and the earnings of the future to be appropriated to the payment of these certificates. Fourth-The deposits received in the future, to be invested separately, and not to be used under any circumstances for the payment of old indebtedness. Fifth-The stockholders to deposit their entire holdings with the state bank examiner, with the stipulation that in so doing the liability of stockholders is not waived in the least. Sixth-No new stock is to be issued from now on. Seventh-The bank hereafter is to do purely a savings bank business and no commercial banking business. Eighth-During the continuance of the agreement, the bank examiner is to have the right, after consulting with the creditors, to appoint four of the trustees of the bank. Gen. Pope was seen yesterday regarding the matter and said, "The plan has the approval of this office, and will doubtless be sanctioned by the depositors. The payment of 15 per cent. of all claims against the bank includes interest up to July 1. The bank, if reopened for the purpose of liquidation, will confine its business entirely to straight savings bank business, and no commercial transactions will be permitted. In this way the depositors will get much more out of the assets than if a receiver was appointed. The money deposited with the bank, if it is reopened under the proposed plan, will be invested under savings bank rules. The plan leaves the nomination of the four trustees to have charge of the bank with the public examiner, and men will be nominated who will represent the depositors." Thomas D. O'Brien, who represents the bank, was seen yesterday and had little to say regarding the plan, except that he thought no doubt it would be adopted, and said he thought it for the best ininterests of all concerned. There are fully 5,000 deposiors and if the plan goes through a meeting will be called to explain the plan in detail. Something more than a rough draft will be prepared at today's meeting of the trustees and the matter put in greater detail.

11. July 25, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, July 25, 1899

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# SAFE AND REASONABLE. The plan of adjustment between the St. Paul Savings bank and its creditors, as outlined in these columns, will, no doubt, provoke much discussion as to its acceptability. It is, however, a measure which the second thought of depositors and business public alike will uphold as a reasonable and secure method of adjusting an unfortunate difficulty. The fact that 15 per cent of existing indebtedness is available shows that the resources of the bank were and are entirely adequate to the ordinary demands of its business. The additional fact that within three years it is found practicable to realize an additional 60 per cent from the existing assets of the bank bears out the claim of the friends of the management that the embarrassment which led to the closing of their doors was a legacy of the unhappy failures of the past which it was happily in a position to survive. The depositors of the savings bank should, in our opinion, not hesitate to accept this proposal. It meets with the approval of the state authorities. It is secured by the holdings of the stockholders. It is based entirely on the present holdings of the bank, without being in anywise dependent on the future business of the bank. Standing on its own merits the proposal is worthy of acceptance. But as an alternative to winding up the affairs of the bank with the aid of a receiver, it is a method of settlement which should be joyfully accepted by even the most skeptical. The submission of the proposed plan to a mass meeting of creditors is, we suppose, inevitable. Yet the intelligent consideration of any proposal of that character is usually wholly beyond the capacity of such a gathering, in which one ill-advised word is likely to be fraught with the most dangerous results to valuable interests. Each depositor of the bank should consider this proposition on its merits, and reach his or her conclusion after the exercise of the best judgment and advice available. It secures in their entirety the moneys of the depositors within a briefer period than these moneys would, in all probability, be sought by their owners were the bank's solvency beyond all question. It furthermore secures the payment of a rate of interest which many believe is as high as should be paid by any institution whose function is merely that of the safe-keeping of the moneys of others. If there is any reason why the plan should not be at once adopted by the depositors, the Globe does not know it. It is incontestably the best plan to be pursued, while the other courses left open are such as remove all question as to its desirability.

12. August 3, 1899 The Pioche Weekly Record Pioche, NV
Article from The Pioche Weekly Record, August 3, 1899

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Kansas rivers are out of their banks and doing considerable damage. There have been recent heavy rains. An earthquake shock was felt in Cal" ifornia Friday. The vibration was from east to west. No particular damage was reported. Governor Pingree of Michigan, denies that he is in a combine with Secretary Alger to control state politics and put Alger in the senate. The health of the United States troops in Havana is remarkably good and makes & better showing than at many posts in the United States. Willard E. Baker, wanted in Boston for embezzlement, escaped from two police officers from that city in San Francisco and has not been captured. Queen Victoria entertained a number of American ladies at tea last week, They were delegates to the Internaional Congress of Women, which meets in London. At Pittsburg orders have been issued for the resumption on Monday of all idle coke ovens and all ovens heretofore run five days a week will be put on full time. Nothing is known in Vienna confirmatory of the published story of revolutionary disturbances at Solia, Bulgaria. In officialgquarters the report is utterly discredited. The Savings bank of St. Paul, Minn., established in 1867, capital $100,000, Thomas A. Pendargast. president, has been compelled to close its doors. Deposits exceed $1,000,000. The flood situation in Texas is not abating. People all over the Brazos valley are being taken off high knolls to which they have been driven, almost perished from exposure. The London Times announces that several officers have been ordered to proceed to South Africa toorganize the residents as well as the police and local forces at various points in the frontier. The ten regiments of volunteers will be equipped throughout sare the regnlars. The ordnance department has on hand a sufficient supply of Krag. Jorgensen rifles and other arms to equip the regiments. Governor Rogers of Washington has refused the request of the governor of Idaho for the extradition of Francis Butler, who, it is alleged, was implicated in the recent miners' riot. He Is charged with murder. It is regarded a probable that General Faure Buguel will be appointed military governor of Paris and that General Zurlinden, the present incum* bent of that post, will be transferred to the command of an army corps. The contract for building the Palmer and Auburn cut-off of the Northern Pa. cific was let to P. J. Henry of Seattle and Nelson Bennett of Tacoma. The contract price for building the twentytwo miles of track is understood to be about $400,000. The Ohio Association of Democratic elubs was organized in Columbus Friday, with General E. B. 1 ndlay of Bucyrus as permanent chairman and Charles L. Swain of Cincinnati, secretary. The association delared for Bryan. Ambassador Choate and Lord Salisbury are almost deadlocked over the modus vivendi fixing the boundary between Alaska and the British possessions. Neither side will accept the provisional line proposed by the other. Mrs. May Wright Sewall, president of the United States Council of Women's International congress, has been elected to succeed the Countess of Aberdeen as the president of the congress, which will hold its next session The Transvaal government has decided to prosecute on charge of high treason the three principal defendants in HE Berlin. whose complicity in the recent attempt to promote a rebellious rising at Johan mesburg has been for several weeks under judicial investigation. The agricultural bank has been or ganized at Santa Clara, Cuba, by a number of prominent citizens, includ ing the mayors of various towns in the province. The bank proposes to lend farmers amounts necessary to cultivate their lands. Advices from Dawson say that the steamer Robert Kerr left there on June 20 with over $3,000,000 in gold dust for St. Michaels, where she will toucl en route to Seattle. At St. Michae she will take on additional passenger and more gold. Rioting at Barcelonia still continues A mob stoned a number of shops an were charged by the police. The mo fired their revolvers at the officers, wh returned the fire. In the encounte three officers and a number of rioter were wounded. About 325 Cuban soldiers have bee disbanded at Saneti Spiritus, Cuba province of Santa Clara delivering

13. August 4, 1899 The Philipsburg Mail Philipsburg, MT
Article from The Philipsburg Mail, August 4, 1899

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additional space at the Paris exposition. Mrs. MeKinley, who has been prostrated by the warm weather, is improving. Kansas rivers are out of their banks and doing considerable damage. There have been recent heavy rains. An earthquake shock was felt in Cal ifornia Friday. The vibration was from east to west. No particular damage was reported. Governor Pingree of Michigan, denies that he is in a combine with Secretary Alger to control state polities and put Alger in the senate. The health of the United States troops in Havana is remarkably good and makes a better showing than at many posts in the United States. Willard E. Baker, wanted in Boston for embezzlement. escaped from two police officers from that city in San Francisco and has not been captured. Queen Victoria entertained number of American ladies at tea last week. They were delegates to the Internaional Congress of Women, which meets in London. At Pittsburg orders have been issued for the resumption on Monday of all idle coke ovens and all ovens heretofore run five days a week will be put on full time. Nothing is known in Vienna confirmatory of the published story of revolutionary disturbances at Solia, Bulgaria. In official@quarters the report is utterly discredited. The Savings bank of St. Paul. Minn., established in 1867, capital $100,000, Thomas A. Pendargast. president, has been compelled to close its doors. Deposits exceed $1,000,000. The flood situation in Texas is not abating. People all over the Brazos valley are being taken off high knolls to which they have been driven, almost perished from exposure. The London Times announces that several officers have been ordered to proceed to South Africa to organize the residents as well as the police and local forces at various points in the frontier. The ten regiments of volunteers will be equipped throughout as are the regulars. The ordnance department has on hand a sufficient supply of Krag Jorgensen rifles and other arms to equip the regiments. Governor Rogers of Washington has refused the request of the governor of Idaho for the extradition of Francis Butler, who, it is alleged, was implicated in the recent miners' riot. He is charged with murder. It is regarded a probable that General Faure Buguel will be appointed military governor of Paris and that General Zurlinden, the present incum* bent of that post. will be transferred to the command of an army corps. The contract for building the Palmer and Auburn cut-off of the Northern Pa. citic was let to P. J. Henry of Seattle and Nelson Bennett of Tacoma. The contract price for building the twentytwo miles of track is understood to be about $400,000. The Ohio Association of Democratic clubs was organized in Columbus Friday. with General E. B. Findlay of Bucyrus as permanent chairman and Charles L. Swain of Cincinnati, secretary. The association delared for Bryan. Ambassador Choate and Lord Salisbury are almost deadlocked over the modus vivendi fixing the boundary between Alaska and the British possessions. Neither side will accept the provisional line proposed by the other. Mrs. May Wright Sewall, president of the United States Council of Women's International congress. has been elected to succeed the Countess of Aberdeen as the president of the congress. which will hold its next session in Berlin. The Transvaal government has decided to prosecute on charge of high treason the three principal defendants whose complicity in the recent attempt to promote a rebellious rising Johannesburg has been for several weeks under judicial investigation. The agricultural bank has been organized at Santa Clara. Cuba, by a number of prominent citizens, including the mayors of various towns in the province. The bank proposes to lend farmers amounts snecessary to cultivate

14. September 15, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, September 15, 1899

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# OBJECTS TO FEES. Receiver Hodgson Opposes the Claim of Bank Attorneys. Judge Brill yesterday heard arguments on an application filed by Attorneys C. D. and T. D. O'Brien and M. D. Munn, for an allowance of $800 for services rendered the Savings Bank of St. Paul prior to the appointment of a receiver. The matter was partially heard by the court, and the petitioners withdrew their application which will be renewed in another form. Receiver E. J. Hodgson entered a strenuous protest to the allowance of the fees on the ground that they were excessive.

15. October 18, 1899 New Ulm Review New Ulm, MN
Article from New Ulm Review, October 18, 1899

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abonsued. AS the Navy Department does not believe him there really is no reason why anybody else should. It is coming to about that time in the state campaigns where the Administration may be expected to do more or less romancing. It may deceive the Republicans but is not likely to affect the Democrats. RETURN OF CHAIRMAN JONES. Senator James K. Jones, chairman of the Democratic National Committee has returned with much improved health and is enthusiastic over the prospects of Democratic success in the coming campaign. The Facts Regarding Gen. Pope's Bond. If the persisted attacks on members of the Lind administration are as groundless as in the case of the attempted/withdrawal of the American Bond and Trust Company from the bond of Public Examiner Pope, they will all come through unscathed. Some apparent misgivings among our press, and the persistent misrepresentations of the more rabid republican papers, make it opportune as well as just, to summarize the real facts in the case. It will be seen that the case is founded entirely on malice and petty revenge. The local manager of the American, is James A. Nowell, and the executive officer who approves the bonds given in bonding, is Ed. S. Meier, who was a Trustee and Cashier of the Savings bank of St. Paul, which is now in the hands ef receiver as result of Examiner Pope's sworn discharge of duty. Nowell and Meier executed Gen. Pape's bond upon his induction into office last January, having been paid for the same by Gen. Pope. The facts of the placing the bank in the hands of a receiver, by the court, after the court's committee had found the assets of the bank thousands of dollars lower than the Examiner Pope had reported, are well known, as well as the fact that James A. Nowell was especially active, and specially vicious, in his efforts to prevent a receiver being appointed. The reason will be made clear. and light be thrown on the action of Meier as an official of the Bond Company, by the following: Cashier Meier is Vice-President of the American Bond and Trust Company. At the time of closing the bank, Meier was charged in the Examiner's sworn statement, with being one of the officials of the bank who had illegaily loaned its funds to the amount of $40,000, of which amount $18,000 was due from said Trustee and Cashier Meier, and he was besides charged with having taken money from the drawer illegally, which statements and charges have never been deried so far as known. It is found also that the bonding company was in the bank to the amount of $10,968.55, from being on the bond of Violet K. Kittson, guardian, having under its privilege of depositing her funds, had the same in t the bank at time of closing, for which claim it has since taken the assignment. Also, Nowell was interested as a depositor, as member of the firm of Bend, Pendergast & Co., and as member of the f firm of Boedigheimer & Nowell. Thus the act of attempting to withdraw from the bond was a mere act of S petty malice, and all who have unjustly y reflected o: `xaminer Pope will right n and the it. The bond holds, of course. o Examiner suffered no inconvenience, r whatever, although to guard against any possible claim of not being bonded, n he accepted another bond in another e company. In this state of facts people will natuf rally be chary of doing business with concern that permits so flagrantly vick ious action on the part of its officials. The Chiesgu Record is doing a valuan able work in showing the unmistakable e ownership of the Illinois legislature, for many sessions, by corporate interests. It is education along this line that will n lead to the settlement of the problems of today. e 11 "We want the Philippines for the trade they will give us." We can get no more of their trade by reason of owni or +1 less we subject their per me wrongs that we as in little , ation of 3,000,000 people is resiste y force of arms?

16. November 19, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, November 19, 1899

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SPECIAL TERM CASES. Motions and Orders in the Actions Under Consideration, At special term in the district court yesterday the following matters came up for consideration: Nettle Thomas vs. City. Demurrer to complaint. Plaintiff given leave to amend complaint. State ex rel. Attorney General vs. Savings Bank of St. Paul. Application by R. H. Dougan and J. W. Shepard for compensation in the savings bank matter. Continued one week. State ex rel. Attorney General vs. Sav. ings Bank of St. Paul. Petition of W. E. Caldwell for return of deposit granted. In re receivership of A. J. Goss, insolvent. Application for appointment of receiver. J. A. Lorimer appointed, with bond $1,500. Golden West Packing company vs. B. Presley company. Order to show cause why complaint alleging plaintiff is a partnership. instead of a corporation, should not be amended. Denied. Connecticut Life Insurance company VS. Joseph Bolt et al. Order confirming sheriff's report of sale. F. R. Hills et al. against Julia B. Hornick et al. Judgment in foreclosure granted. Crane-Ordway company vs. RobinsonCary company. Order to show cause why defendant should not be permitted to examine plaintiff's books. Heard and submitted. Final citizenship papers issued to E. H. Randall. Germania Bank of Minneapolis vs. G. A. Eddington, defendant. and Great Northern Railway company, garnishee. Referred to J. E. Hearn to take disclosure. Frank Nordstrom VS. Crist Johnson. Motion to set aside an order in supplementary proceedings. Denied. Mary Franheim vs. Sovereign Camp Woodmen of the World. Motion to strike out portion of reply. Submitted. Della McCormack vs. Robert Kirkland and P. T. Kavanagh, garnishee, and Mary C. Kirkland, claimant. Motion for judgment, etc. Submitted. Wright, Barrett & Stilwell company et al. vs. Harry P. Robinson et al. Motion to punish St. Paul Dispatch et al for contempt in making a levy on goods in hands of receiver.

17. November 21, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, November 21, 1899

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# WANT $15 A DAY. Appraisers of Savings Bank Assets Put in a Bill for Services. R. H. Dougan and J. W. Shepard, two of the appraisers who valued the assets of the Savings Bank of St. Paul, have made application to the district court for an order directing the receiver, E. J. Hodgson, who was the third appraiser, to pay them $15 per day for twenty-four days' work. The matter will come up for hearing before Judge Brill at special term next Saturday.

18. November 26, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, November 26, 1899

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# THEIR CLAIM FOR FEES. Savings Bank of St. Paul Appraisers' Bill Argued in Court. The application of R. H. Dougan and J. W. Shepard to be paid for their services as appraisers of the assets of the Savings Bank of St. Paul, came up for hearing yesterday, before Judge Brill, at special term in the district court and, after argument, was taken under advisement. Judge Brill understood when appointing the appraisers that they were to serve without pay. However, the fact was not plainly stated in the order of appointment and there was a misunderstanding and the committee asks that it be given $15 per day for its services. The appellants were represented by J. E. Stryker, and the respondent, the receiver, by J. C. Michael. R. H. Dougan testified that he had understood from Mr. Prendergast that the work of appraisal would only occupy three or four days and this amount of time he was willing to contribute. He had stated at the time of appointment if the work occupied a longer period he was unwilling to serve. Mr. Shepard testified that if he had known there was to be no remuneration he would not have undertaken the task, which consumed nearly a month. Other witnesses were Cyrus Walsh, J. R. Walsh, M. D. Munn and C. N. Darling. Attorney Munn testified that he had never said anything to the appraisers about compensation. He had supposed that they were willing to serve without pay. During the hearing the court room was filled with depositors and others interested in the defurct institution who were interested spectators.

19. January 21, 1900 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 21, 1900

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Notice to the Depositors of the Savings Bank of St. Paul. The time for filing claims against the said bank expires February 23, 1900. EDWARD J. HODGSON, receiver.

20. February 27, 1900 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, February 27, 1900

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# Fee for Legal Services. The matter of the claim of Ambrose Tighe against the Savings Bank of St. Paul is on trial before Judge Otis in district court. The plaintiff asks $500 for legal services rendered the bank prior to the appointment of a receiver.

21. May 12, 1900 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, May 12, 1900

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# Not Preferred Claim. Judge Bunn yesterday in the district court filed an order denying the application of Ellen Sanden for an order directing the receiver of the Savings Bank of St. Paul to pay her $517.62 received by the bank June 28, 1899, as the proceeds of a collection.

22. September 21, 1902 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, September 21, 1902

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# OBJECTS TO TEARING # DOWN OF BUILDINGS H. C. McNair Secures an Injunction Against Alphonse Farrell and John A. Bayne. Henry C. McNair yesterday began suit in the district court against Al- phonse Farrell and John A. Bayne for an injunction restraining them from tearing down and removing the build- ing on land occupied by them as ten- ants and owned by the plaintiff, at 517 and 519 St. Peter street. Mr. McNair recently purchased the property from Edward J. Hodgson, re- ceiver of the Savings Bank of St. Paul. The buildings were standing on it at that time and are claimed by him as fixtures. The defendants allege that the buildings are their private prop- erty by virtue of a contract between themselves and the preceding tenant, who had erected them on a contract with the former owner. They have al- ready removed the barn, it is charged, and threaten to tear down the other buildings before the expiration of their lease. Judge Bunn yesterday issued a tem- porary restraining order pending the determination of the rights of the par- ties.

23. December 30, 1904 The Minneapolis Journal Minneapolis, MN
Article from The Minneapolis Journal, December 30, 1904

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ing company, appellant. Order affirmed. Brown, J. Charles E. Otis, as receiver of the Savings Bank of St. Paul, respondent, vs. the city of St. Paul, appellant. Order affirmed. Brown, J. Jens G. Jenson, respondent, vs. the Commodore Mining company and E. D. McNeill, appellants. Judgment affirmed. Start, C. J. Peter Gallagher, appellant, vs. Northern Pacific Railway company, a corporation, respondent. Order affirmed. Start, C. J. Ann Cody, respondent, vs. Duluth Street Railway company, et al., defendants; Duluth-Superior Traction company, appellant. Order reversed and new trial granted. Douglas, J. State of Minnesota, respondent, vs. Frank Minck, appellant. Judgment and order affirmed. order affirmed. Douglas, J.

24. January 19, 1906 The Minneapolis Journal Minneapolis, MN
Article from The Minneapolis Journal, January 19, 1906

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# Supreme Court Sylvester Kipp, respondent, vs Henry Clinger et al., defendants, Lilian Lambert, appellant. Syllabus: First-Johnson VS. Johnson, 92 Minn., 167, to the effect that a memorandum of a trial court attached to, but not expressly made a part of its order or decision, may be referred to when it furnishes a "controlling reason for the court's decision," followed and applied. Second-Such memorandum may not, however, be referred to for the purpose of impeaching or contradicting express findings of fact, or conclusions necessarily following from the decision made. Third-The grantee of a defendant in an action to determine adverse claims to real property, wherein judgment has been rendered by default, may move the court to vacate and set aside the judgment and for leave to defend therein, but his right to that relief depends upon whether the defendant, to whose rights he succeeeded, would, on the facts disclosed, be entitled to it. Fourth-It must affirmatively appear, to justify granting such a motion, when addressed to the discretion of the court under General Statutes 1894, section 5267, that it was made with due diligence and within one year from actual notice of the judgment. Fifth-An affidavit by such grantee stating in general terms that the defendant, his grantor, had no actual notice or knowledge of the judgment, is hearsay evidence, and insufficient to establish the fact of want of notice in defendant. Sixth-The rule excluding hearsay evidence applies to affidavits used upon motions to vacate and set aside judgments. Seventh-The rule that an order or decision of the court below, otherwise right as a matter of law, will not be reversed merely because the reasons assigned therefor by the court were wrong, applied. Order affirmed. -Brown, J. In re estate of James A. Bradley, deceased, Henry W. Bradley, administrator, appellant, vs. Bradley Estate company, respondent. Syllabus: First-An appeal to the district court from an order of the probate court vacating and setting aside an administrator's account presents for review, in the appellate court, ordinarily, the propriety of the order appealed from and not the merits of the administrator's account. Second-But where on such an appeal the parties voluntarily litigate the merits of the administrator's account, and the court hears, adjusts and determines the same, the parties are bound by the result to the same extent as tho the matters were properly before the court Third-An order granting a new trial will not be sustained as one having been based upon the ground that the verdict or findings were not sustained by the evidence; and therefore a discretionary order within the rule of Hicks vs. Stone, unless it affirmatively appears from the record to have been so granted. Fitger vs. Guthrie, 83 Minn., 330, followed. Order reversed. -Brown, J. Kathryn Carlin, respondent, vs. Charles D. Kennedy, appellant. Syllabus: First-The evidence was sufficient to justify the jury in finding that, the ironing mangle involved in this action was defective in that it did not have a suitable guard over the rollers to protect employees while engaged in putting a covering upon the rollers, and that the employer was negligent in directing an inexperienced employee to assist in putting a covering on the rollers, without giving her suitable instructions, and warning her as to the danger connected therewith. Second The evidence was sufficient to justify the jury in finding that respondent did not assume the risks and was not guilty of contributory negligence in performing the work. Third-Expert testimony was proper with reference to the proper and customary way of putting coverings upon such rollers, and as to whether such machines could reasonably be equipped with a proper guard to protect employees. Fourth-Damages, as found by the jury, were not excessive. Order affirmed. -Lewis, J. State ex rel, Charles E. Otis, as receiver of the Savings Bank of St. Paul, et al., petitioners, vs. the district court of Ramsey county and Grier M. Orr, one of the judges of said court, respondents. Syllabus: The amendment of 1898 to section 36, article 4, of the constitution to the effect that a legislative body shall be a feature of home-rule charters, was not intended to prevent the board of public works, an appointive body, from exercising the duties imposed by the St. Paul city charter in respect to reassessment. Former decisions adhered to which hold that in local improvements reassessments made by the board of public works under the St. Paul charter, are valid, notwithstanding the occurrence of jurisdictional defects in the original assessment proceedings. Order affirmed. -Lewis, J. In re estate of Catherine Kenny, deceased, St. Paul Gaslight company, appellant, vs. Mary T. Kenny, respondent. Syllabus: First-Real property inherited by a child from its father's estate descends under subdivision 7, section 4471, general stautes of 1894, whtre the child dies without issue and befo