gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f0bf1eece2611016
Response Measures
None
Description
Cashier disappeared and officers fled; sheriff forced entry and a receiver was later appointed.
Events (2)
1.August 1, 1903*Receivership
Newspaper Excerpt
went into the hands of a receiver last summer; president of the Farmers & Merchants bank at Montgomery at the time it went into the hands of a receiver last summer.
Source
newspapers
2.August 14, 1903Suspension
Cause
Bank Specific Adverse Info
Cause Details
Officers (cashier and president) disappeared; alleged diversion of deposits to meet a $16,000 claim and insolvency.
Newspaper Excerpt
The Farmers and Merchants' bank of this place was not opened yesterday or to-day ... the whereabouts of the cashier, B. A. Brainerd.
BANK'S DOORS ARE CLOSED Nn One at Montgomery to Explain the Condition of the Farmers and Merchants. Special to The Journal. Montgomery, Minn., Aug. 14.-The Farmers and Merchants' bank of this place was not opened yesterday or to-day, and nothing is known here of the whereabouts of the cashier, B. A. Brainerd. The bank was owned by George and B. A. Brainerd, and very little is known of its actual condition. The deposits have been running from $50,000 to $60,000 and the liabilities are estimated at $150,000. It is not known what the assets, if any, amount to. B. A. Brainerd took his family on Saturday to Blooming Prairie, where his father is engaged in banking. George Brainerd is away on business and there is no one here to explain the situation,
2.August 15, 1903Arizona RepublicanPhoenix, AZ
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Article Text
A MISSING CASHIER. Montgomery. Minn.. Aug. 14.-The Farmers and Merchants' bank was not opened for business yesterday or today and the whereabouts of Cashier D. M. Brainerd is unknown to the depositors. The deposits run from $50,000 to $60.000. and the liabilities are estimated at $150,000. No one knows the assets.
Bank Closed, Cashier Gone. MONTGOMERY, Minn., Aug. 15.The Farmers and Merchants' bank of this place was not opened for business, and the whereabout of the cashier, B. A. Krainer, is unknown. The deposits run from $50,000 to $60,000, and the liabilities are estimated, at $150,000.
Bank Closed. Cashier Gone. MONTGOMERY. Minn., Aug. 15.The Farmers and Merchants' bank of this place was not opened for business, and the whereabout of the cashier, B. A. Krainer, is unknown. The deposits run from $50,000 to $60,000, and the liabilities are estimated at $150,000.
5.August 15, 1903Evening JournalWilmington, DE
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Article Text
Cashier Missing, Bank Closed. Montgomery, Minn., Aug. 15.-The Farmers' and Merchants' Bank of this place is not open for business, and the whereabouts of the cashier, B. A. Krainerd, is unknown. The deposits run from $50,000 to $60,000 and the liabilities are estimated at $150,000.
6.August 17, 1903The Madison Daily LeaderMadison, SD
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Article Text
CASHIER IS MISSING. Private Bank at Montgomery, Minn., Closed. Montgomery, Minn., Aug. 17.-The Farmers and Merchants' bank of this place is closed and nothing is known here of the whereabouts of the cashier, B. A. Brainerd. The bank was owned by George and B. A. Brainerd and very little is known of its actual condition. The deposits have been running from $50,000 to $60,000 and the liabilities are estimated at $150,000. It is not known what the assets, if any, amount to.
7.August 20, 1903Iron County RegisterIronton, MO
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Article Text
The Farmers' and Merchants' bank of Montgomery, Minn., was not opened for business on the 14th, and the whereabouts of the cashier, B. A. Brainerd, is unknown to the depositors. The deposits run from $50,000 to $60,000, and the liabilities are estimated at $150,000.
8.August 20, 1903Missouri Valley TimesMissouri Valley, IA
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Article Text
BANK CLOSES DOORS. Farmers' and Merchants' of Montgomery, Minn., Suspends. St. Paul, Minn., Aug. 18.-The bank examiner's office was notified that the Farmers and Merchants bank of Montgomery, an institution in which there was $50,000 in farmers' deposits, has closed its doors and its officers have disappeared. B. A. Brainerd, the cashler, is missing, and the president cannot be found. On a writ of attachment the sheriff broke into the institution today and found 600 silver dollars and about $6,000 in notes, part of which are negotiable. The bank had a capital of $11,500 and nas always done a business very largey exceeding its capital. About a week ago it was forced to meet a claim of $16,000 and it is alleged that part of the deposits went to meet this obligation. The president of the bank is also the head of a large lumber company Minneapolis.
9.August 21, 1903The Mitchell CapitalMitchell, SD
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Article Text
BANK CLOSES DOORS. Farmers' and Merchants' of Montgomery, Minn., Suspends. St. Paul, Minn., Aug. 18.-The bank. examiner's office was notified that the Farmers and Merchants bank of Montgomery, an institution in which there has was $50,000 in farmers' deposits, closed its doors and its officers have disappeared. B. A. Brainerd, the cashier, is missing, and the president canbroke not found On be a 600 into found. writ silver the of dollars attachment institution and about today the sheriff $6,000 and in notes, part of which are negotiable The bank had a capital of as always done a business very largey exceeding its capital. About week it was forced to meet claim a of $16,000 ago and it is alleged that part a of the deposits went to meet the this obligation. The president of bank is also the head of a large lumber company in Minneapolis.
10.August 21, 1903The Tupelo JournalTupelo, MS
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Article Text
The Farmers' and Merchants' bank, of Montgomery, Minn., was not opened for business on the 14th, and the whereabouts of the cashier, B. A. Brainerd, is unknown to the depositors. The deposits run from $50,000 to $60,000, and the liabilities are estimated at $150,000.
11.January 13, 1904The Redwood GazetteRedwood Falls, MN
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Article Text
GEORGE BRAINERD UNDER ARREST. LeSueur County Grand Jury Returns an Indictment Against Him. The Minneapolis Times of last Friday says that "George S. Brainerd, a member of the defunct Brainerd, Deckert & Blamer lumber company of this city, and president of the Farmers & Merchants bank at Montgomery at the time it went into the hands of a receiver last summer, was arrested last night by Detectives Smith and Bahan at the request of LeSueur county officials, where he is wanted on charges preferred by the grand jury. "The exact nature of the charge against Mr. Brainerd is not known, but it is supposed to be in connection with the affairs of the bank at Montgomery where the creditors were using all, efforts to collect their dues. "Mr, Brainerd came to this city to appear as a witness in a case which came up before Judge Cray yesterday in regard to the accounts between the Montgomery bank and the Brainerd, Decker & Blamer lumber company of this city, and he expected to go to LeSueur as soon as his presence here was no longer required as he had learned that the officers there had a warrant for his arrest. "But no chances were taken and his arrest occurred last night 1 as he was about to leave the courtn room. The action before Judge Cray was brought by Joseph Haggarty, trustee for the George S. Brainerd estate, and he seeks to have judgment against the Brainerd, Decker & Blamer company to such amount as s the court may determine, claiming that the receiver of the Minneapolis firm has money belonging to the estate of Brainerd. "E. D. Decker is the receiver of the Minneapolis company, and the court is asked to restrain him from paying out any money until the claims of the George S. Brainerd
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
