9963. Seven Corners Bank (St Paul, MN)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: August 1, 1893
Location: St Paul, Minnesota (44.944, -93.093)

Metadata

Model: gpt-5-mini
Short Digest: 185be3ee

Response Measures

Accommodated withdrawals, Full suspension

Description

Contemporary reports (Aug 1-2, 1893) show a run/heavy withdrawals and that the Seven Corners State Bank 'assigned' (closed) Aug 1-2. Later reporting and assignee statements attribute the failure to misconduct by cashier C. A. Hawks (embezzlement/irregular loans). The bank did not resume; receivership/assignment proceedings and sale of assets followed.

Events (3)

1. August 1, 1893 Run

Cause: Bank Specific Adverse Info
Cause Details: Depositors made heavy withdrawals amid talk about the bank's weakness; subsequent investigation attributes collapse to irregular loans/looting by cashier C. A. Hawks.
Measures: Bank paid those who demanded funds initially (per 1892 note); no special reopening measures reported before assignment.
Newspaper Excerpt: there was a considerable run on the institution during the early hours to day.
Source: newspapers

2. August 1, 1893 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank 'assigned' (closed) after being 'weak for months' and later shown wrecked by its cashier C. A. Hawks (losses from irregular loans and misappropriation).
Newspaper Excerpt: The Seven Corners State bank, capital $100,000, failed this afternoon. / The Seven Corners Bank ... closed its doors at one o'clock this afternoon.
Source: newspapers

3. August 2, 1893 Receivership

Newspaper Excerpt: The Seven Corners' bank in this city ... assigned yesterday afternoon. / Assignee Westfall filed a statement of the assets and liabilities of the bank this afternoon. ... wrecked by its cashier, C. A. Hawks.
Source: newspapers

Newspaper Articles (23)

1. May 14, 1892 The Irish Standard Minneapolis, Saint Paul, MN

Article from The Irish Standard, May 14, 1892

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NOTES. Our best bow is due to Judge Conroy, the newly-elected justice of the peace for the east Tom, beg pardon, Judge Conroy, is entitled and fully merits the honors bestowed upon him. James Burns, Tim Kelliher and Chas. McDermott, of this city, in company with John McCarthy and John O'Shaughnessy, of Stillwater, left for New Orleans last Friday to attend the national convention of the A. O. H. St. Lnke's Literary society held their second post lenten social at the residence of Hon. Judge McDonald last Thursday evening. Despite the inclemency of the weather the gathering was of large proportions and the entertainment par +xcellent. Among those who took part in the same were the Misses Egan, Miss Franklyn, Miss Campbell and Messrs. Donnelly, Cole and McCarthy. Bishop McGolrick, of Duluth, was in the city last Sunday, the occasion being the blessing of St. Vincent's church, of which Rev. Father Cosgrove is the esteemed and beloved pastor. Bishop McGolrick preached an eloquent and instructive sermon relative to the occasion at High Mass, and in the afternoon confered confirmation on about one hundred children. At 7:80 in the evening vespers were sung, after which a sermon on Total Abstinence Was delivered by the Rt. Rev. Bishop. This prodigions success, "Spider and Fly," will be presented at the Grand Opera House week commencing May 15, with manifold novelties and a company numbering forty-six who were mostry recruited abroad. The play has been entirely rewritten and reconstructed. The costumes which are said to be very handsome were made especially for this production by Chas. Alias, Costumer for the Drury Lane Theatre, London. The "Spider and Fly" in its new dress has proved one of the strongest novelties and most successful production of the present season. The failure of the Commercial Bank of this city, in some measure, created a panic here last Monday. It was given out that a run would be made on the Seven-corners Bank, of which Billy Banholzer is the esteemed president. The run started, but the complacent air with which Billy sat in the front office of the bank smoking a cigar and paying all who demanded their money, the amount due them had a tendency to quiet the nerves of the depositors. All who want their money can have it, said Mr. Banholzer. we are prepared to meet any kind of a run. But it did not come and Tuesday found everything all serene at the Seven Corners Bank. Not the least of the regrets to be offered by Democrats and Republicans alike is the loss of the present head of the city detective force, John J. O'Connor. To attempt to eulogize him for a past record that is without a stain during his nine years as chief of that department would be superfluous. John O'Connor leaves that office with a consciouspess of having well and truly performed his duties. He has instilled into the minds of the thieving fraternity the one lesson, that St. Paul is a good place for them to keep away from. Socially Mr. O'Connor is one man in a thousand. To see him is to know him, to know him is to respect him and not soon forget him; but to be missed he always will be. The election is over and the question which is now agitating the mind of spoil hunters is the filling of the office of the Chief of Police. Had the late Capt. John Bresette lived to see the result of this late election the question of the selection of chief of police would soon be settled. Bat aspirants for the office are besinging Mayor-elect Wright and a Kilkenny cat fight is now going on among the Republican office seekers. Prominent among them is the present Sheriff, Ed. S. Bean, and the mantle could not fall on better or worthier shoulders. He is eminently qualified to fill the porition and would hold it with the same becoming grace and dignity with which he fills the present office. But his chief opponent is one of his deputies, John Harris. and Harris has a "pull" of no small quantity. The friends of Harris are not few nor isolated, but Bean has a monopoly in that direction and if he really desires the plum will undoubtedly be wearing the star of Chief of Police soon after making his

2. August 2, 1893 The Helena Independent Helena, MT

Article from The Helena Independent, August 2, 1893

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TELEGRAPHIC BREVITIES. ST. PAUL, Aug. 1.-The Seven Corners State bank, capital $100,000. failed this afternoon. UPPER SANDUSKY, O., Aug 1.-The Wyandot County bank suspended. Assets $100,000, liabilities $75,000. NEW ROCHELLE, N. Y., Aug. 1. -John Stephenson, the well known our builder, died yesterday, aged 89 years. CLEVELAND, Aug. - The officers and directors of all savings banks of this city decided to require of depositors notice before the withdrawal of funds. CHICAGO, Aug. 1. - The formal opening of the congress of architects occurred today. The American institute of arenitects elected D. H. Burnham resident. PHILADELPHIA, Aug. 1.-Col. Wm. Fris. muth, aged 70 years. a well known inventor and active organizer of obs du ing the civil war, committed suicide to-eay. OMAHA, Aug. 1.-At a meeting of the presidents of Omaha savings banks this morning it was resolved to require sixty days' notice for the withdrawal of deposits. LONDON, Aug. 1.-The regular of the Royal Southampton Yacht club was held to-day. The course was fifty miles. The Britaunia and Valkyrie died not sail. The American yecht Navahoo wou with case. Satanita second. NEW YORK, Aug. 1.-James Mitchell, of the New York Athletic olub. to-day broke the world's record for putting the fifty-six pound weight. He made thirtv-eight feet one and one-half incues, which is suree feet further than the record. LONDON, Aug. -The Vienna correspond. on' of the News says Russia has resolved to ask China for an explanation of her uiiitude in the Pamire question, in view of the euormous masses of Chinese troops concentrated in the vioinity of Pamire. BUENOR AYRES, Aug. 1.-The radicals at the head of the revolutionary movement now in progress declare their object is to effect a complete revolution, as that of 1890, and to destroy surviving elements of the regime of Ex-President Colman.

3. August 2, 1893 The Evening Herald Shenandoah, PA

Article from The Evening Herald, August 2, 1893

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Bank Failure in St. Paul. ST.: PAUL, Aug. 2.-The Seven Corners' bank in this city, a state institution with a $100,000 capital, assigned yesterday afternoon. It is the first bank failure in St. Paul in more than & year and it is not believed to be a bad one.

4. August 2, 1893 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, August 2, 1893

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St. Paul's First Bank Failure. ST. PAUL, Aug. 2-The Seven Corners' bank in this city, a state institution, with $100,000 capital, assigned. This is the first bank failure in St. Paul in more than a year.

5. August 2, 1893 New-York Tribune New York, NY

Article from New-York Tribune, August 2, 1893

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BANKS CLOSE THEIR DOORS. COMPARATIVELY INSIGNIFICANT CONCERNS WITH SMALL ASSETS AND LIABILITIES. Steubenville, Ohio, Aug. 1 (Special).-The Toronto Banking Company, at Toronto, this county, suspended this morning, and Robert M. Francy was appointed receiver. The bank has securities sufficient to pay depositors, but could not realize enough cash to meet daily demands. The assets are $80,000 and the liabilities $50,000. The suspension of the Toronto Pottery Company was precipitated by the suspension of the banking company. J. McClave was appointed receiver. Its assets are $90,000 and the liabilities about the same. Whatcom, Wash., Aug. 1.-The Bellingham Bay National Bank did not open its doors yesterday morning. Its temporary suspension was caused by the constant withdrawal of deposits for the last ninety days. The assets are $270,000, and the liabilities $160,000. The officers expect to resume in a short time. St. Paul, Minn., Aug. 1.-The Seven Corners Bank, in this city, a State Institution with $100,000 capital, made an assignment this afternoon. It is the first bank failure in St. Paul in more. than a year, and is not believed to be a bad one. The bank was comparatively weak, but its failure will not affect any other banks in this city, as all are in first-class condition. Charleston, S. C., Aug. 1.-The Nickel Savings Bank made an assignment to-day. The Habilities are $20.000, and the nominal assets $41,000. The deposits amount to only $5,000 and will be paid in full. Astoria, Ore., Aug. 1.-The private bank of I. W. Case closed its doors yesterday morning on account of the constant withdrawal of deposits. It is said that the depositors will be paid in full.

6. August 3, 1893 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, August 3, 1893

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$ Chicago, Ill., August 2.-A receiver has for and one the Dierkes been Furniture appointed Company, the Denme of most extensive manufacturers and dealers in the West. The firm's assets are $400,000, and their stated liabilities, $120,000. The failure is attributed to financial depression and suspension of bank credits. Wholesale Druggists Assign. Helena, Mont., August 2.-P. M. Parchen of Parchen & Co., wholesale druggists, made an assignment yesterday. Their liabilities are $247,000 but no schedule of their assets has been filed. St. Paul Gets Its First Shock. St. Paul, Min., August 2.-The Seven Corners Bank with a $100,000 capital stock assigned yesterday. It is the first a bank failure in St. Paul in more than year. It is not believed to be serious. Another Chicago Failure. Chicago, Ill., August 2.-D. Eggleston & Co., one of the biggest carrying brokers on the board of trade, has failed. Denver Concern Carried Under. Denver, Col., August 2.-The Denver Safe Deposit & Trust Company assigned last evening. The firm's assets are $40,000 and their liabilities $100,000. Eastern creditors caused the assignment by pushing the concern. Minneapolis Millers Assign. Minneapolis, Minn.. August 2.-Crocker, Fiske & Co., millers, assigned vesterday. Their assets and liabilities run about $200,000. More Chicago Failures. Chicago Ill., August 2.-The failure of George G. Parker and of T. M. Gregg has been announced on the board. Parker did a large business. Gregg's failure is a small one. The North American Provision Company assigned this morning. Their assets are scheduled at $500,000 and their liabilities not estimated. The failure is one result of yesterday's board of trade troubles, Adam Smith & Co., wholesale liquor dealers, assigned today. Their assets are $150,000 and their liabilities, $125,000. Agricultural Works Shut Down. Massilon, O., August 2.-Russell & Co.'s agricultural and engine works, employing 800 men will close for an indefinite period abcut August 15th on account of the uncertainty concerning the business future. Heavy Liabilities. San Francisco, Cal., August 2.-W. Freeze & Co., general importers, have filed a petition in insolvency. Their liabilities are $144,000 assets $100,000. National Bank Failure, Boise City, Idaho, August 2.-First National Bank of Nampa failed yesterday. No statement of its assets and liabilities has been made. Largest Brass Works in the Country Close. Elyria, Ohio, August 2.-The Lorain Manufacturing Company assigned yesterday. It is estimated that their liabilities are $105,000 and their assets $192,500. The company had the largest brass works in the country and employed about 600 men. Cutting Down the Force. Hartford, Conn., August 2.-Fiftythree employes in the car repair shops of the New York, New Hampshire & Hartford Railroad Company of this city were discharged today. The men were carpenters, joiners and painters and earned from $2 to $2.50 a day. Pottery Company Suspends, Steubenville, Ohio, August 2.-The suspension of the Toronto Pottery Company was announced today assets $90,000, liabilities nearly the same. Affecting Railroad Traffic. New Haven, Conn., Aug. 2.-The consolidated road has begun to be affected by the general business depression. During the past week freight traffic has decreased more than 10 per cent. Passenger traffic has fallen off considerably. The road has laid off seven work trains. One gang of freight trainmen was dismissed from the Shore Line division yesterday. It is said here eighty men were discharged at Hartford shops yesterday. New York Failures. New York, Aug. 2.-A receiver has been appointed for Amasa Lyon & Co., manufacturers of umbrellas of this city. Sulzbacher, Gitteman and Wedells, importers of woolens, assigned today. Liabilities $320,000, assets nominally the same. The Potter Publishing Company. Boston, August 2.-The investigation committee of the creditors of the Potter Publishing Company today reported liabilities $40,535; assets $23,516. John an offered per cent OF 18 Wood, cash to take old 30 the employe per assets cent of and in 6, the pay 12 firm, and 20 months without interest. The committee was instructed to accept the offer if a better one was not received in six days. Partial Shut Down at Lawrence. Lawrence, Mass.. August 2.-The directors of Washington mills today decided to partially shut down next week. 1200 men and women operatives

7. August 3, 1893 The Seattle Post-Intelligencer Seattle, WA

Article from The Seattle Post-Intelligencer, August 3, 1893

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CONDENSED DISPATCHES. Archbishop Corrigan has not left for Rome. The First National bank, of Nampa, Idaho, failed on Tuesday. Vice President Stevenson and party arrived at St. Paul on August 2 The Milwaukee & St. Paul railroad has redeced wages 10 per cent. The Seven Corners State bank, at St. Paul, with a capital of $100,000, failed yesterday afternoon. = Jeffrey, president of the Rio Grande, has been appointed receiver of the Rio Grande Southern. It is positively stated that Hawaiian Minister Blount will leave Honolulu August 6, for Washlagton City. President Cleveland will leave for Washington City on Saturday. Mrs. Cleveland will remain at Burnard's Bay. An extensive forest fire is raging at Colfex, Cal. Railroad and telegraph companies suffer the of their lines. The Wyandos County bank, at Upper Sandusky, O., has suspended, with liabilities of $15,000, assets $100,000. B. Cornely, assistant director general of 'the san Francisco Midwinter fair, has left for Chicago to secure foreign exhibits, M. Caro, the alleged smuggler of Portland. was arraigned in San Francisco Wednesday. He gave a bond of $2,500 for his appearance. The presidents of the Omaha savings banks have given notice that the banks will enforce the sixty-day notice of withdrawal of deposits. The Fall River banks have notified treasurers of mills that no more checks will be paid in currency. But they will take care of deposits already made. At San Francisco the judge of probate has deolded that Chris Ryer, the illegitimate son of Dr. Washington Ryer, is not entitled to any share of the estate. Bishop Mullin, of Erie, Pa., celebrated the twenty-dith anniversary of his elevation to the episcopacy on Wednesday. Cardinal Gibbons preached the sermon. Baroness Do Roque, mother of Mrs. Maybrick, the alleged husband poisoner, has begun suit to net aside deeds given to Armstrong, of Louisville The case invoives several million acres et land in Virginia, West Virginia and Kencucky. Fraud is claimed. la the United States court at Now York city, on August 2, Judge Lacombe refused to grant a preliminary injunction in favor of the Edison Electric Light Company against the United States Electric Light Company, as the action of the Edison people seemed to him unjust

8. August 3, 1893 Rock Island Daily Argus Rock Island, IL

Article from Rock Island Daily Argus, August 3, 1893

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ABBREVIATED TELEGRAMS. The Seven Corner bank at St. Paul has closed its doors. Deposits amount to $195,166, and it has a capital stock of $100,000. The Denver Safety Deposit and Trust company has suspended. Its assets are placed at $400,000; liabilities, $100,000. George Kistner, one of the fourteen men arrested at Quincy, III., for the murder of Bradshaw, has confessed that he fred the fatal shot. He says he supposed the revolver contained only blank cartridges, the intention being merely to frighten Bradshaw and Mrs. Breckinridge. Two hundred and sixty-twothousand recruits for the Russian army are to be drawn by conscription this year. The new tax on stock exchange transactions, which went into force in France the 1st. of last month, has well nigh paralyzed business on the French market. The tirailleurs of the Russian army are to be equipped with snow shoes next winter. President Barton O. Aylesworth has written a letter declining the prohibition nomination for governor of Iowa on the ground that the death of Chancellor Carpenter and the serious illness of Dean Hobbs throws the entire management of the Drake university on his shoulders. Ruth Brown Thompson, oldest daughter of Ossawatomie John Brown, of Harper's Ferry fame, is now llving on a ranch near Pasadena, Cal. The negro writers of New York state have formed themselves into the Colored American Press association, of which Rush F. Simms is the president and Christopher Stewart the secretary. Lemuel Stevenson, for twenty years a clown with Barnum's and other circuses, has connected himself with the Salvation Army at Springfield, Mo. Governor Reyes, of the state of Nuevo Leon, Mexico, saw apicture of George Washington hanging near the front door of asaloon in Monterey, and compelled its removal to a more fit place. Fifty-six men deserted the coast defense vessel Monterey at San Fransisco because of the heat when the ship is under steam. William Bedick, a farmer near St. Joseph, Mo., thought he was to get $15,000 in counterfeit greenbacks for his $4,000 good money, and found he had only a package of green paper on his return home from New York. G. C. Trumpff, president of the defunct South Side Savings bank, Milwaukee, has disappeared and, as in the case of Cashier Koetting, his whereabouts is unknown. Thirty-five horses perished in a fire at the Kansas City (Mo.) stock yards. Loss, $18,000.

9. August 3, 1893 The Austin Weekly Statesman Austin, TX

Article from The Austin Weekly Statesman, August 3, 1893

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ing of the presidents of the savings banks it has been decided to require 60 days notice for withdrawal of deposits. WYANDOTTE COUNTY BANK SUSPENDS. UPPER SANDUSKY, O., Aug. 1.-The Wyandotte County Bank of this place has suspended payment. The matter created but little excitement as the general impression is that the bank is thoroughly solvent, its suspension being brought about by lack of confidence by depositors and impossibility of converting its paper into ready cash. Liabilities are about $70,000, while assets are about $100,000. Dr. R. N. McConnell and J. R. Layton have been appointed receivers. A ST. PAUL BANK COLLAPSES. ST. PAUL, Aug. 1.-The Seven Corners bank of this city, a state institution with $100,000 capital, assigned this afternoon.

10. August 5, 1893 The Times Richmond, VA

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worst, as the people are greatly excited over this failure. LEBANON, PA., Argust 4.-The Lebanon Trust and Safe Deposit Bank falled to open its doors this morning. The announcement made was: "This bank is closed by order of the directors." The bank is a State institution, with a capital of $50,000. ST. PAUL, MINN., August 4.-The People's Saving Bank, one of the small concerns of this city, closed its doors at noon to-day. WASHINGTON, D. C., August 4.Treasury officials are advised that the National German-American Bank, of.St. Paul, Minn., capital $2,000,000; the First National Bank, of Hammond, Ind., capital $50,000, and the Citizens' National Bank, of Muncie, Ind., capital $200,000, closed their doors to business this morning. Bank Examiner Cannon, on orders from Washington, closed the Texas National Bank, of San Antonio, Texas, today. Comptroller Eckels has authorized the Farmers' National Bank, of Henrietta, Texas, to resume business. NEW YORK, August 4.-Messrs. Parrott Bros., members of the Cotton Exchange, have announced their inability to meet their engagements. NEW YORK, August 4.-N. L. Corte & Co., importers of tin, tin-plate and other metals, made an assignment to-day. The liabilities are about $350,000; the assets are large, but the actual amount cannot be given. S. Jacoby & Co., cigar manufacture:s, failed to-day. The liabilities are $150,000, with large assets. ST. PAUL, MINN., August 4.-The temporary suspension of the German American National Bank last night, although not unexpected in banking circles, was a great surprise to the general community. So confident are the people of the strength of the remaining banks that, although some depositors are quietly withdrawing mont from a few banks, there is no particular excitement or general run on any of the banks. The savings banks for several days have been enforcing the sixty day rule, although most of them have abundant resources for any emergency. The failure of the Seven Corners' Bank on Tuesday attracted little attention, as it had been known to be weak for months. Some of the banks had helped at times, but felt at the present time a disinclination to continue their help, which seemed only to postpone the failure that finally came. But the closing of the German-American Bank last night was of a different character. It and its predecessors have been in the city as institutions for years, the first organization having been effected in 1856, and all subsequent changes strengthening and enlarging the bank, which now has $4,000,000 of good commercial paper, its banking house and property besides, worth at least $200,000. and other assets, which will make $400,000 more, or a total of $5,000,000. The People's Bank, of a capacity of $200,000. suspended, but no figures have as yet been given out concerning it. The failure is not considered an important one. DENVER, COL., August 4.-Charles B. Mason has been appointed receiver of the Equitable Accident Insurance Company. The outstanding risks amount to $6,000,000, and have been reinsured with the Union Casualty Company, which, it is claimed, will fully protect them. MANKATO, MINN., August 4.-At noon to-day the First National Bank closed its doors. At 1:30 P. M. the National Citizens' Bank did the same, and fifteen minutes later the Mankato National Bank followed suit. All three banks are solvent. and the suspensions are expected to be temporary only.

11. August 8, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC

Article from The Progressive Farmer, August 8, 1893

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this city to day have occurred as a consequence of yesterday's collapse. ELYIDO, Ill, Aug. 2 -The Lorain Brass anufacturing Co. has a signed. Liabilities over $100,000. SAN FRANCISCO, Aug. 2.-Fresh Co., Importers, have failed. Liabilities, $150,000. DENVER, Col., Aug. 2 -The Safe De posit and Trust Co. has assigned. Liabilities $100,000. BIRMINGHAM, Ala, Aug. 2.-The First National Bank did not open its doors this morning. A notice says all de positors will be paid in full. Inability to realize was the cause. All excitement was promptly allayed and a slight run on the other banks discontinued at noon. CHICAGO, Aug. 2 -The failure of D. Eggleston has been announced on the board of trade. Failures of George G. Parker and T. M. Gregg have been announced. Parker did a large business. Gregg's failure was a small one. AURORA, Iil., Aug. 2.-A cotton mill in this city employing 500 hands has shut down for an indefinite length of time because of lack of demand for its manufactures. WOONSOCKET, R. I., Aug. 2.-The local plant of the Valley Falls Company, engaged in the manufacture of colored cotton dress goods, and running 340 looms with 135 hands and a weekly pay roll of $1,000, shut down yesterday for an indefinite period O Ving to the lack of market for their goods. The same company's mills at Valley Falls, running 1,500 looms and employing 600 hands, shut down also. MITHEUN, Mass, Aug. 2.-The Metheuna cotton mills suspend operations Saturday for one month. Three hun dred operatives will be out of employment and will suffer the loss of $12,000, the amount of the monthly pay roll. The shut down is ascribed to the financial stringency. The Knitted Fabries Company, employing fifty hands, has also issued notices that the works will close Saturday for a month. BOSTON, Aug. 2.-The works of the American Rubber Company, at Cam bridgeport, Mass., closed down this morning for two weeks. This action throws 1,700 operatives out of work CHICAGO, Aug. 2.-Adam Smith & Co., wholesale liquor dealers, assigned this morning. The assets were scheduled at $150,000, liabilities at $125,000. STEUBENVILLE, Ohio, Aug. 1 -R M Francy was appointed receiver of the Toronto Banking Company this morn ing on a suit entered by J M :Clave, cashier, against Jefferson Saltzman, president, and John Logan, partner in the concern The cause of the failure is said to be the stringency in the money market and inability to realize on as sets. The bank commenced business in 1889. ST. PAUL, Minn.. Aug. 1 -The Seven Corners Bank-aStatebank, organ zed September 15, 1886-closed its doors at one o'clock this afternoon. There had been talk about the bank for several weeks, and there was a considerable run on the institution during the early hours to day. WHATCOM, Wash., Aug 1.-The Bell ingham Bay National Bank did not open its doors yesterday morning. Temporary suspension was caused by constant withdrawal of deposits for the last ninety days. The bank officers expect to resume in a short time.

12. August 9, 1893 Morris Tribune Morris, MN

Article from Morris Tribune, August 9, 1893

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Financial Flurry In St. Paul. Sr. PAUL, Aug. 7.-St. Paul experienced a financial flurry this week. Four banks suspended payment. They were the National German-American, West Side, Seven Corners and Peoples. They were all smali banks except the German-American, which had a capita! os $2,000,000. All but the Seven Corners bank will resume in a short time.

13. August 10, 1893 The Manitowoc Pilot Manitowoc, WI

Article from The Manitowoc Pilot, August 10, 1893

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By the suspension of the Seven Corners Bank at St. Paul the city and county funds are tied up.

14. August 10, 1893 The Redwood Gazette Redwood Falls, MN

Article from The Redwood Gazette, August 10, 1893

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Financial Flurry In St. Paul. ST. Paul, Aug. 7.-St. Paul experienced a financial flurry this week. Four banks suspended payment. They were the National German-American, West Side, Seven Corners and Peoples. They were all small banks except the German-American, which had a capital os $2,000,000. All but the Seven Corners bank will resume in a short time.

15. August 11, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, August 11, 1893

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O'BRIEN *WAGON WORKS GONE UP. Receiver Appointed Yesterday at Lafayette, Where Hard Times Caused the Failure, Special to the Indianapolis Journal LAFAYETTE, Ind., Aug. 10.-This morning the O'Brien Wagon Works Company. of this city. went into the hands of Jacob Marks, receiver. At the beginning of the month the company notified their employes that there would be a reduction of 10 per cent. in wages. The men, or a portion of them, refused to accept the cut, and the company closed down the entire plant, throwing out 165 men. The firm was doing a good business and was making steady shipments of wagone, and, until the stringency in the money market came along, was able to promptly discount good paper. Collections among the wholesalers and retailers were poor, and the company reached a point where their paper, although firstclass, would not be cashed by the banks. They have a large amount of material and orders on hand, but concluded it was better not to make up the wagons and scatter them all over the country and wait for the money, 80 the receiver was appointed. A rough estimate of the obligations of the firm puts the figures at $90,000 or $100,000. They have a good plant, located on the line of the Beltrailway. Other Business Troubles. ST. PAUL, Aug. 10.-The Seven Corners Bank, which closed its doors Aug. 4, was not the victim of the financial stringency. The showing made by the official statement of the assignee was filed late this afternoon, and shows the institution was wrecked by its cashier. C. A. Hawks, who lossed from $25,000 to $50,000 of the bank's money to some people almost without security. HUTCHINSON, Kan., Aug. 10.-The Hutchinson & Southern railroad, with headquarters in this city, and operating letween Hatchinson and the Indian Territory, passed into the hands of a receiver to-day. Otto Miller, the superintendent of theroad, was appointed receiver by the United States District Court for the district of Kansas. KINGSTON, Mo., Aug. 10.-The Caldwell County Bank, of this place, and the Exchange Bank at Polo have closed their doors. Both banks were owned by John D. Cox. The Polo bank was the county depository and all of the county revenue 18 tied up. SEDALIA, Mo., Aug. 10.-The Evening Bazoo, having been published for nearly a quarter of a century without missing an issue, went to the wall last evening. The paper is owned by the J. West Goodwin Printing Company. LEROY, N. Y., Aug. 10.-Frank C. Lathrop's Bank has closed its doors. He has made an assignment to James Kinny. He claims all depositors will be paid in full, and ascribes the failure to the tightness of the money market. MARSHALLTOWN, Ia., Aug. 10.-The Hamilton County State Bank, of Webster City, closed its doors to-day. bnt the officers say it will only be temporary. The assets are reported at $145,000 and the liabilities at $130,000. EBENSBURG, Pa., Aug. 10.-Johnson, Buck & Co.'s bank, of this place, with branches at Carroltown and Hastings, closed its doors at noon to-day. Assets in excess of liabilities. CINCINNATI, O., Aug. 10.-The Central Forniture Association. a co-operative concern. was to-day placed in the hands of C. F. Spreen. receiver. Assets, $63,000; liabilities. 84,000. NEW ORLEANS, Aug. 10.-Thecommercial community uniformly approves the action of the clearing-house banks of this city in deciding to limit cash withdrawals to $50 per day. NEW YORK, Ang. 10.-Judge Ryan has appointed Miles M. O'Brien and Peter F. Meyer receivers of the Madison-square Bank. Their bond 18 placed at $200,000. BOSTON, Aug. 10.-Henry A. Hartley & Co., carpet dealers, doing business on the corner of Washington and Elm streets, made an assignment yesterday. CINCINNATI, Aug. 10.-Henry Brackman. dealer in gentlemen's furnishing goods, has assigned. Liabilities, $40,000; assets nominally the same.

16. August 11, 1893 Oakes Weekly Republican Oakes, ND

Article from Oakes Weekly Republican, August 11, 1893

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Financial Flurry In St. Paul. Sr. PAUL, Aug. 7.-St. Paul experienced a financial Hurry this week. They suspended pay MY Four Dn were the National German-American West Side, Seven Corners and Peoples. 'They were all small banks except my Geritatt=American, which had a capital os $2,000,000. All but the Seven Corners bank will resume in it short time,

17. August 16, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, August 16, 1893

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TIED UP COUNTY FUNDS. County Commissioners Discuss Their Status Friday. The county committee on claims has been called to meet Friday evening at S o'clock for the purpose of meeting the sureties on bonds given to the county by banks that have funds in their possession and are at present suspended. These are four banks, as follows: National German-American, the Peoples', the West Side and the Seven Corners. The county attorney will be present, and the situation will be discussed, preparatory to making report to the board of county commissioners, which convenes in regular session the following Monday at 10 a. m. By a misunderstanding the bondsmen of the banks referred to met in the room of the board of county commissioners yesterday morning, but the board of county commissioners had not been called to meet by the mayor as given out to the newspapers, and consequently nothing was done.

18. August 17, 1893 Union County Courier Elk Point, SD

Article from Union County Courier, August 17, 1893

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College, charging malfeasance in office. THEOPHILUS RACINE, of Fort Wayne, Ind., was thrown against a steel point in his barn floor by restless horses and killed. THE Lebanon, Pa., Trust and Safe Deposit Bank has failed. It has a capital of $50,000. It is believed the suspension is temporary. THE Nebraska Wesleyan University, at Lincoln, has a new Chancellor, Dr. Isaac Crook, late President of the University of the Pacific. ARCHBISHOP REDWOOD, of Wellington, New Zealand, who will attend the Catholic Congress at Chicago, has arrived at San Francisco. SIXTY persons, including the sheriff and other officers, have been indicted at Memphis for lynching and cremating the negro, Lee Walker. WHILE the agent of a mortgage security company was removing her fur niture, Mrs. Harriet Hill, of Indianapolis, fell dead from heart disease. AT St. Louis, a dilapidated old building collapsed, the whole structure failing into the cellar. Three persons are supposed to be in the ruins. IT has been discovered that irregular loans to himself by C A. Hawks, ex cashier of the Seven Corners Bank at St. Paul, made the suspension of the bank. necessary. PARROTT BROS., cotton commission dealers at New York, have announced their suspensión. They have been heavy operators, but it is not expected the failure will be large. THE President has appointed E. Ellery Anderson, of New York, one of the Pacific Railroad Commissioners, in place of Mr. Dimmick, who was appointed by Mr. Cleveland, but declined the position. As A CANNON was being charged at St. Louis a ball from a Roman candle fell into the cannon's mouth and discharged the piece. Emil Hill, Robert Merriman and Frank Welch were seriously injured. THERE is a piratical craft cruising in Long Island Sound, and for some time past the crew aboard of her have been robbing vessels, stripping yachts and committing all sorts of depredations at farm-houses and cottages along the shore. EMPLOYES of the Cincinnati and Bedford Railroad tried to tunnel under the Evansville and Richmond Road at Bedford, Ind., because the latter would not grant permission to cross their tracks. The hole was filled by the opposing road and litigation will ensue.

19. August 22, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC

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three cays and acquamted facts relating to the suspension of the bank. As soon as the necessary prep arations can be made warrants will be issued for the arrest of the men who appear to be guilty of having violated the national banking laws. NASHVILLE, Tenn Aug. 9 The First Nation Bank of this city suspended after banking hours this afternoon. A statement has not yet been given out WASECA, Minn., Aug. 9.-The Peo ple's Bank of this city failed to open yesterday. The directors held a meet ing Monday evening and voted to suspend. Saturday and Monday there was a heavy run on the bank, with drawing SO much of the funds that demands could not be met. Assetsare $135,000, liabilities $67,000. NEW ORLEANS, La, Aug. 9.-A - run was started yesterday on the Germania Savings Bank, and all who came were promptly paid. When the doors of the Germania were opened this morn ing there was a motley group of people waiting on the outside with their deposit books. The savings bank man agers last night night decided to enforce the sixty day clause. Thisaction has apparently had the effect of allay ing the fears of depositors and the run has ceased. MINNEAPOLIS, Aug 9 The Commer cial Bank of this city closed its doors this morning. The Hamilton Loan and Trust Co. New York, has gone into the hands of a receiver. Fuller Bros & Co. one of the largest hardware firms in New York, and a very old firm, assigned on the 9th. The Automatic Piano Company, New York is in the hands of a receiver. The liabilities are $40,000; assets $10,000 WASHINGTON, Aug 11 -Comptroller Eckles was informed this morning of the suspension of the Waxahachi Na tional Bank, of Waxahachie, Texa Capital, $100,000 NEW YORK, Aug. 11.-The failure of Washington Burrows was announced at the Consolidated Exchange this morning EBENSBURG Pa Aug. - The bank ing firm of Johnston, Buck & Co, of this place, conducting banks at Ebens burg, Carrolltown and Hastings, closed their do rs at noon to day and placed the following notice at the entrance: We have assets in excess of our liabili ties, but owing to the constant demand on us for currency in the last twenty four hours we consider it to the best interest of all concerned to suspend payment for the present Twenty big failures was the record made in New York City on the 10th. NASHVILLE, Tenn, Aug 10.-The suspension of the First National Bank last evening was followed to day by the suspension of payment by the American National Bank, one of the largest and strongest in the city. The bank has a capital stock of $1,000,000 and a surplus fund of $116,000 LEROY, N. Y., Aug -Frank C. Lathrop's bank has closed its doors. He has made an assignment to James Kinny. He claims all depositors will be paid in full and ascribes the failure to the tightness of the monev market. CHICAGO, III Aug. 10.-The South Side State Bank, State and Thirty first streets, passed into the hands of a re ceiver yesterday afternoon. The bank has been doing businesssince. June and the volume of business transacted has been small. The capital stock wasplaced at $200,000, but it is alleged only a small percentage of this sum was paid in The deposits will not exceed $18, 000 and were made largely by the various stockholders of the bank. From present indications it appears that John B. Koetting, cashier of the now defunct South Side Savings Bank, practically looted the bank before leav ing the city. It is estimated that he took at least $109,000 in money and securities, and now Receiver Barth has at ached Koetting's individual property in the hope that some of the stolen money may be recovered. KINGSTON, Aug. 10.-The Caldwell County Bank at this place and the Ex change Bank of Polo closed their doors yesterday morning. Both banks are owned by John D. Cox. There is no run on other banks. ST. PAUL, Minn., Aug. 10.-Assignee Westfall filed a statement of the assets and liabilities of the bank this afternoon. Even the most cursory reading of the documents shows that the Seven Corners Bank was not swamped by hard times, but was wrecked by its cashier, C. A. Hawks. BEATRICE, Neb., Aug. 10.-Jacob Bond, president of the defunct Bank of Cortland, was arrested last night. F. C. Severine, a member of the State legislature, swore out the complaint against him, and the principal charge is that of receiving deposits after the bank was known to be insolvent. LOWELL, Mass., Aug. .-Faulkner's Mills have posted a notice of shut down for two weeks from Friday night in all but the dyeing and finishing departments. The mill runs 9,200 spindles and 142 looms and employs 500 hands. WINSTON, N, C., Aug. 12.-King Brothers' Pure Food Company, doing business on Third street, assigned to day, naming Colonel Thomas H. Stratton trustee. Liabilities, about $5,000; assets, $3,500.

20. November 29, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, November 29, 1893

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# SEVEN CORNERS BANK. A Suit Commenced Against the Stockholders. Otto Walther has begun an action against the Seven Corners bank and the stockholders thereof to enforce the collection of a judgment for $414.85. The court is asked to make the stockholders contribute on the double liability of stock to an extent sufficient to pay the judgment, and also to appoint a receiver to wind up the affairs of the concern. Judge Willis has made an order in the cause requiring all creditors of the bank to file answers setting up their claims

21. September 9, 1894 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, September 9, 1894

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Charles Joy vs. Burlington Insurance Company; disclosure of garnishee taken and submitted on motion for judgment. Gustave Martini vs. Nils Christenson et al.; motion for new trial denied. Anton Kerman, as administrator, vs. People's Ice Company; submitted on motion for new trial. Herman Pepin vs. City of St. Paul; submitted on motion for new trial. Robert Seelen vs. St. Paul City Railway Company; hearing on motion for new trial set for Monday. Judge Otis-W. G. Hollis et al. vs. Bohn Manufacturing Company; submitted on demurrer to complaint. In re assignment of Johnson & Co.; sale of stock confirmed. John T. Ritchie vs. John B. Dow et al.; sheriff's report of sale confirmed. R. Gertrude Dorn vs. William Kuehn et al.; application for receiver granted with a stay of one week. Judge Willis-E. S. Burbank et al., as executors, vs. E. S. Burbank et al.; report of surviving trustees confirmed. In re receivership of Porter & Lovering; application of certain creditors for a dividend dismissed. Emily H. Babcock vs. Caroline C. Murray et al.; continued to Sept. 12 at 2 p. m. Judge Egan-Charles Lehman, Henry Boetler and Henry Endewardt were granted final naturalization papers. In re assignment of Adolph Frederick; hearing continued one week. In re assignment of Seven Corners bank; leave given Mullen & O'Dowd to file claim. Isaac Solomon & Co. vs. Charles D. Smith and The Great Northern Railway Company as garnishee; to be argued on briefs. On application of Henry Belrose and Odile, his wife, they were given leave to adopt a minor child. In re assignment of Charles Matheis: leave given Lawrence Stone and Lizzie Matheis to file releases and final account of assignee approved. Jennie Sevenis vs. Horace J. Brainard; application for receiver of effects of defendant granted. People's Bank of St. Paul vs. Bernhardt Roessler; judgment on pleadings ordered in favor of plaintiff.

22. October 7, 1894 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, October 7, 1894

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SPECIAL TERM. Saturday's Grind Before the District Judges. The Ramsey county district court special term work yesterday developed the following preliminary proceedings: Judge Brill-William F. Merrill vs. Willians S. Runyon et al.; decree in foreclosure ordered. I. Solomon & Co. VS. Kennedy & Durkee; referred to E. V. Harman to take disclosure of St. Paul & Duluth Railway company as garnishee. In re assignment of D. D. Merrill; order signed limiting time to file claims. In re assignment of Seven Corners Bank; sale of real estate by assignee confirmed. Judge Kelly-Nellie James Ruffner Jackson vs. Annastein W. Hugeman; taken under advisement upon application for leave to file supplemental answer. Louis J. Galvin. VS. City of St. Paul; taken under advisement on motion to set aside judgment and to grant a new trial. John P. Waish vs. City of St. Paul; motion to set aside judgment and to grant a new trial taken under advisement. Macourt Sewer Pipe Company vs. Mary A. Hanley: motions of both parties for judgment on pleadings taken under advisement. Judge Otis-Ancher Investment Company, vs. Columbian Electric Company: demurrer to complaint overruled. John Wilkes vs. C. Shields; submitted on demurrer to complaint. Judge Kerr-In re assignment of Hans 0. Sarby; bids on stock and soda fountain approved. Francis H. Boitwick VS. Robert J. Strong; sheriff's report of sale confirmed. Judge Egan-Mary E. Sauerwein vs. Egbert G. Handy; to be taken up next week. John Date et al., vs. The Eureka Improvement Company et al.; motion granted to set cause for trial during the present general term. Judge Willis-Hersey Lumber Company vs. James Matthews and others; heard on motion to dissolve a temporary injunction. In re assignment of Mast, Buford & Burwell Company; heard on an accounting by the assignee.

23. March 19, 1895 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, March 19, 1895

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# HAWKS SETTLES. Pays in Full the Claim of the Seven Corners Bank. Judge Kerr yesterday made an order directing W. P. Westfall, a receiver of the defunct Seven Corners bank, to accept the proposition of Charles A. Hawks in selltement of the bank's claim against him, and give him and Kate Nelson Hawks a full release. Hawks' offer was to pay $4,000 in cash and turn over lot 10, block 71, Dayton & Irvine's addition, subject to the encumbrances upon it. The property is on Nina avenue, and is valued at $3,500 above the encumbrance.