Second National Bank - St Paul, MN

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 725
Charter Number: 725
Start Date: December 31, 1896
Location: St Paul, Minnesota (44.944, -93.093)

Metadata

Model: gpt-5-mini
Short Digest: 40f0762c

Response Measures

Full suspension

Other: Bank suspended and notified the Comptroller; cited inability to realize assets after heavy withdrawals following failures of other banks.

Description

Dateline in article is Dec. 31 and paper published Jan 1, 1897 — I use 1896-12-31 as the event date (dateline likely the last day of 1896). The article describes heavy withdrawals after failures of other banks, directors decided not to open and suspended and notified the comptroller; no reopening mentioned, so classified as permanent closure after a run.

Events (4)

1. January 19, 1865 Chartered

Source: historical_nic

2. December 31, 1896 Run

Cause: Local Banks
Cause Details: Depositors withdrew after the failure of the National Bank of Illinois and the Bank of Minnesota, causing a $30,000 shrinkage in deposits.
Measures: Directors decided not to open for business; notified the comptroller and suspended payments.
Newspaper Excerpt: On account of the recent heavy withdrawals of deposits and the imposibility of realizing upon our assets, it has been decided by our board of directors to suspend...
Source: newspapers

3. December 31, 1896 Suspension

Cause: Local Banks
Cause Details: Suspension followed heavy withdrawals precipitated by failures of other banks and inability to realize assets.
Newspaper Excerpt: ...decided not to open for business. The following notice was posted: 'On account of the recent heavy withdrawals of deposits ... it has been decided by our board of directors to suspend, and the comptroller will be advised of our action.'
Source: newspapers

4. December 31, 1912 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. January 1, 1897 The Herald Los Angeles, CA

Article from The Herald, January 1, 1897

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Article Text

CLOSED BY A RUN ST. PAUL, Minn., Dec. 31.-A Grand Forks, N. D., special to the Dispatch says: The directors of the Second National bank of this city this city this morning decided not to open- for business. The following notice was posted: "On account of the recent heavy withdrawals of deposits and the imposibility of realizing upon our assets, it has been decided by our board of directors to suspend, and the comptroller will be advised of our action." It is said that after the failure of the National Bank of Illinois and the Bank of Minnesota the banks deposits suffered a shrinkage of $30,000. The statement of December 17th gave loans and discounts of $158,086; due other banks and depositors, 179,749.78. The capital stock was $50,000, undivided profits $40,000.