gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3f9d819066b24f84
Response Measures
None
Receivership Details
Depositor recovery rate
75.8%
Date receivership started
1889-04-22
Date receivership terminated
1896-05-04
OCC cause of failure
Fraud
Share of assets assessed as good
57.5%
Share of assets assessed as doubtful
30.7%
Share of assets assessed as worthless
11.8%
Description
Closure followed discovery of large embezzlement by the cashier; receiver appointed.
Events (4)
1.October 21, 1882Chartered
Source
historical_nic
2.April 7, 1889Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed after discovery that cashier P. F. Pratt had embezzled roughly $100,000; directors placed bank in hands of bank examiner.
Newspaper Excerpt
The doors of the First National Bank were closed last evening and the cashier is in Canada.
Source
newspapers
3.April 22, 1889Receivership
Source
historical_nic
4.April 22, 1889Receivership
Newspaper Excerpt
It has been decided that the First National Bank ... shall go into the hands of a receiver.
Source
newspapers
Newspaper Articles (20)
1.April 8, 1889The Portland Daily PressPortland, ME
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Article Text
Stole Nearly $100,000. ANOKA, Minn., April 7.-The doors of the First National Bank were closed last evening and the cashier is in Canada. There is a woman in the case as handsome as she is wicked. P. F. Pratt, the cashier, went to Minneapolis a week ago Thursday, complaining that he was not well. Friday the bank officials were startled to hear from the Merchants Bank of St. Paul that their account was overdrawn $20,000. Pratt had drawn about $3000 due the bank and over twice as much more on a cashier's check. The overhauling of Pratt's accounts show matters in a bad mess. Pratt is a thief to an amount of nearly $100,000. The directors decided to place the bank in the hands of the bank examiner, who will appoint a receiver to settle its affairs or close up the business.
2.April 8, 1889Evening JournalWilmington, DE
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Article Text
A MINNESOTA BANK RUINED. The First National at Anoka Robbed of About $100,000 by its Cashier. ANOKA, Minn., April The doors of the First National bank are closed. The cashier is in Canada, The matter has been kept quiet. The particulars, as fully as could be learned, are as follows: P. F. Pratt, cashier of the First National bank of Anoka, went to Minneapolis a week ago last Thursday, complaining that he was not well. On Saturday he telephoned the assistant cashier about some matters of business, and to the inquiry as to his health jokingly remarked: "I am sick abed and looking for watchers." On Friday the bank officials were startled by a notice from the Merchants Bank of St. Paul that the account of the First National was overdrawn $20,000. A trusted messenger was at once dispatched to St. Paul to investigate, and the discovery made that Pratt had draw. out about $8,000 due the tank and over twice as much were on his cashier's check, The bank examiner was notified of the situation, and, in company with the cashier of the Merchants National Bank of St. Paul and a Minneapolis expert, gave a hasty overhauling of the affairs, Enough was learned to show that matters were in a bad mess and that Pratt is a thief to the extent of nearly $100,000. Not knowing when or where the end might be, the directors concluded to place the bank in the hands of the bank examiner and he will appoint a receiver to settle the affairs or close up the business, It is impossible to tell how great has been Pratt's villainy and the ba k's correspondent in both Chicago and New York allowed him to overdraw to the amount of $15,000. It is probable that he has drawn to the full limit of both banks, They have been telegraphed to refuse payment on all checks signed by Pratt. In addition to this he raised about $30,000 on his personal note, indorsed by Mrs. Nelland, an aged widow résiding in Dayton, who trusted Pratt to manage her business matters to a large extent.
3.April 8, 1889Morning Journal and CourierNew Haven, CT
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Article Text
A WESTERN DEFAULTER. The First National Bank of Anoka, Minn., Closes Its Doors - Cashier Pratt Missing With About One Hundred Thousand Dollars-A Woman at the Bottom of It. ANOKA, Minn., April 7.-The doors of the First National bank closed last evening. The cashire is in Canada. The matter has been kept quiet. On Friday the bank officers were startled to hear from the Merchant bank of St. Paul that their account was over-drawn over $20,000. A trusted messenger was at once dispatched to St. Paul to investigate and the discovery made that Pratt had drawn out about $8,000 due the bank and over twice as much more on his cashier's check. The bank officers were notified, and, in company with the cashier of the Merchant's National bank of St. Paul, and a Minneapolis expert, gave a hasty overhanling of Pratt's accounts. Enough was learned to show that matters were in a bad way and that Pratt is a thief to the amount of nearly $100,000. The directors decided to place the bank in the hands of the bank examiner and he will appoint a receiver to settle the affairs or close up the business. Mr. Pratt has a private record which is not at all enviable, and his scandalous history shows that a woman who is as pretty as she is wicked is probably the cause of his troubles. Most of the stockholders were local business men. All the money taken on deposit yesterday will be returned in full, but that previously deposited will have to await the settlement. Unless matters prove worse than expected the depositors will probably be paid in full. Salem Carpenters Will Strike. SALEM, Mass., April 7.-The carpenters will to-morrow inaugurate a general strike for nine hours as a day's work. Early in January the Carpenters' union notified the bosses that on April 1 they should demand nine hours and last Monday they began at that rate. Last evening on receiving their pay those who had only worked nine hours were docked six hours in their week's pay. It is expected that there will be at least two hundred men here out of work.
4.April 10, 1889The True NorthernerPaw Paw, MI
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Article Text
A MISSING CASHIER. P.F. Pratt Runs Away with $100,000 and a Grass Widow. The doors of the First National Bank at Anoka, Minn., are closed. The cashier, P. F. Pratt, is in Canada, having stolen about $100,000. A woman as handsome as she is wicked is in the case. The cashier went tc Minneapolis recently and the authorities 01 the local bank received notice from the St. Paul Merchants' Bank that their account had been overdrawn $20,000. Investigation showed that Pratt had drawn out $8,000 due the bank and twice as much more on his cashier's check. The bank examiner Wa; called in and found that Pratt was a thief to the amount of nearly $100,000. The directors at once closed their doors. and a receiver was appointed. It is impossible to tell the extent of Pratt's villainy, as the bank's correspondents in New York and Chicago allowed him to overdraw $15,0.0. In addition he raised $30,000 on his personal note, indorsed by an a:ed widow, whose affairs he managed. The woman with whom Pratt skipped was a Mrs. Jacobsen. a grass-widow. Mrs. Pratt never suspected her husband until an anonymous note told her of his doings. She then left him and went to her home in Boston, Mass.
5.April 11, 1889Echo De L'ouestMinneapolis, MN
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Article Text
Un caissier en fuite. La "First National Bank" d'A noka, vient de suspendre ses paiements par suite de la fuite de son caissier M. P. F. Pratt, qui vient de passer la ligne 45ème en emportant environ 110,000 dollars. Comme toujours il y a une f-mme au fond de la chose, et au élections dernières des officiers de la banque M. Pratt avait été sur le point d'être revoqué de ses fonctions par suite du scandale qu'il avait causé par ses relations avec une jeune femme avec laquelle il vient de s'enfuir au Canada. On avait cru qu'une dimunution de salaire serait suffisante pour le punir, mais il vient de s'en venger en emportant tout ce qu'il a pu réaliser d'arger. On croit que les dépositaires SEront payés intégralement. CROOKSTON Le Senateur Sampson a été pendu en effigie dans la nuit de vendredi. Son image fut trouvée samedi matin, suspendue aux fils télégraphiques coin de la rue Main et de la deuxième rue. Le manequin était habillé de vetements noirs un bonnet de même couleur était rabattu sur ses yeux, aux pieds il portait deux mocassins. Sur le dos on lisait: Vendu et traitre; sur la poitrine. "Sentiments des citoyens de Crookston pour le Sénateur Sampson." A sept heures 1 la police enleva le manequin. A vendre a bon march4 un harmonium (cabinet tout nouf S'adrossor i
ANOTHER THIEF IN CANADA. The Cashier of a Minnesota Bank Steals a Large Sum and Flees. The doors of the Anoka, Minn., First National bank are closed. The cashier is in Canada. The matter has been kept quiet. There is a woman in the case. The particulars, as fully as could be learned, are as follows: P. F. Pratt, cashier, went to Minneapolis a week or more ago, complaining that he was not well. Later he telephoned the assistant cashier about some matters of business, and to the inquiry as to his health, jokingly remarked: "I am sick abed and looking for watchers." He is still looking. Last week the bank officials were startled to hear from the Merchants bank of St. Paul that their acc unt was overdrawn $20,000. A trusted messenger was at once dispatched to St. Paul to investigate, and the discovery made that Pratt had drawn out about $8000 due the bank and over twice as much more on his cashier check. The bank officers were notified and in company with the cashier of the Merchants National bank of St. Paul and a Minneapolis expert, gave a hasty overhauling of Pratt's accounts. hough was learned to show that matters were in a bad mess, and that Pᵢ att is a thief to the amount of nearly $100,000. The directors decided to place the bank in the hands of the examiner, and he will appoint a receiver to settle the affairs or close up the business.
7.April 11, 1889Crawford AvalancheGrayling, MI
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Article Text
A MISSING CASHIER. P. F. Pratt Runs Away with $100,000 and a Grass Widow. The doors of the First National Bank at Anoka, Minn., are closed. The cashier, P. F. Pratt, is in Canada, having stolen about $100,000. A woman as handsome as she is wicked is in the case. The cashier went to Minneapolis recently and the authorities of the local bank received notice from the St. Paul Merchants' Bank that their account had been overdrawn $20,000. "Investigation showed that Pratt had drawn out $8,000 due the bank and twice as much more on his eashier's check. The bank examiner was called in and found that Pratt was a thief to the amount of nearly $100,000. The directors at once closed their doces, and a receiver was appointed. It is impossible to tell the extent of Pratt's villainy, as the bank's correspondents in New York and Chicago allowed him to overdraw $15,000. In addition he raised $30,000 on his personal note, indorsed by an aged widow, whose affairs he managed. The woman with whom Pratt skipped was a Mrs. Jacobsen. a grass-widow. Mrs. Pratt never suspected her husband until an anonymous note told her of his doings. She then left him and went to her home in Boston, Mass.
8.April 11, 1889The Telegraph-CourierKenosha, WI
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Article Text
A MISSING CASHIER. P. F. Pratt Runs Away with $100,000 and a Grass Widow. The doors of the First National Bank at Anoka, Minn., are closed. The cashier, P. F. Pratt, is in Canada, having stolen about $100,000. A woman as handsome as she is wicked is in the case. The cashier went tc Minneapolis recently and the authorities Of the local bank received notice from the St. Paul Merchants' Bank that their account had been overdrawn $20,000. Investigation showed that Pratt had drawn out $8,000 due the bank and twice as much more on his cashier's check. The bank examiner was called in and found that Pratt was a thief to the amount of nearly $100,000. The directors at once closed their doors, and a receiver was appointed. It is impossible to tell the extent of Pratt's villainy, as the bank's correspondents in New York and Chicago allowed him to overdraw $15,000. In addition he raised $30,000 on his personal note, indorsed by an aged widow, whose affairs he managed. The woman with whom Pratt skipped was a Mrs. Jacobsen, a grass-widow. Mrs. Pratt never suspected her husband until an anonymous note told her of his doings. She then left him and went to her home in Boston, Mass.
9.April 12, 1889The Springdale NewsSpringdale, AR
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OVER THE BORDER. The Cashier of the First National Bank of Aneka, Mion., Crosse. Into Canada, Leaving a D fieit of Nearly $100,000. ANOKA, Mino. April 8.-The doors of the First National Bank closed Saturday evening. The cashier is in Canada, The matter has been kept quiet. The partic. ulars, as fully as could be learned, are as follows: P. F. Pratt, cashier of the First National Bank of Asoka went to Minneapolis a week ago last Thursday, com. plaining that he washnot well. On Saturday he telephoned the assistant cashier about some matters of business, and to the inquiry as to his health, jokingly remarked: "I am sick abed and looking for watchers." On Friday the bank officials were startled by a notice from the Merceants' Bank of St. Paul that the account of the First National was overdrawn $20,000. A trusted messenger was at once dispatch+ ed to St. Paul to investigate, and the discovery was made that Pratt had drawn out about $8,000 due the bank and over twice as much more on his cashier's check. The bank examiner was notified of the situation, and in company with the cashier of the Merchants' National Bank of St. Paul and a Minneapolis expert, gave a hasty over-hauling of the affairs. Enough was learned to show that matters were in a bad mess, and that Pratt is a thief to the amount of nearly $100,000. Not knowing when or where the end might be, the directors concluded to place the bank in the hands of the bank exam. iner, and he will appoint a receiver to settle the affairs or close up the business. It is impossible to tell how great has been Pratt's villainy, and the bank's correspondents in both Chicago and New York allowed him to overdraw to the amount of $15,000. It is probable that he has drawn to the full limit of both banks, They have been telegraphed to refuse payment on all checks signed by Pratt. In addition to this, he raised about thirty thousand dollars on his personal notes, indorsed by Mrs. Nelland, an aged wid W residing in Dayton, who trusted Pratt to manage her business matters to a large extent.
10.April 12, 1889Essex County HeraldIsland Pond, Guildhall, VT
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ANOTHER THIEF IN CANADA. The Cashier of a Minnesota Bank Steals a Large Sum and Flees. The doors of the Anoka, Minn., First National bank are closed. The cashier is in Canada. The matter has been kept quiet. There is a woman in the case. The particulars, as fully as could be learned, are as follows: P. F. Pratt, cashier. went to Minneapolis a week or more ago, complaining that he was not well. Later he telephoned the assistant cashier about some matters of business, and to the inquiry as to his health. jokingly remarked: "I am sick abed and looking for watchers." He is still looking. Last week the bank officials were startled to hear from the Merchants bank of St. Paul that their account was overdrawn $20,000. A trusted messenger was at once dispatched to St. Paul to investigate, and the discovery made that Pratt had drawn out about $8000 due the bank and over twice as much more on his cashier check. The bank officers were notified and in company with the cashier of the Merchants National bank of St. Paul and a Minneapolis expert, gave a hasty overhauling of Pratt's accounts. E ough was learned to show that matters were in a bad mess, and that P, att is a thief to the amount of nearly $100,000. The directors decided to place the bank in the hands of the examiner, and be will appoint a receiver to settle the affairs or close up the business.
11.April 19, 1889Los Angeles Daily HeraldLos Angeles, CA
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Result of Pratt's Clean-Up. ANOKA, Minn., April 18.-It has been decided that the First National Bank of this city, which was recently closed, being cleaned out by cashier Pratt, shall go into the hands of a receiver. Mrs. Nell, the lady who was on the absconded cashier's paper to the extent of about $40,000, refuses to pay the notes, and a long lawsuit is in progress.
12.April 19, 1889Pittsburg DispatchPittsburgh, PA
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A BANK IN BUSINESS NO MORE. It Has to Quit Because Its Cashier's Paper is Good for Nothing. ANOKA, MINN., April 18.-It has been decided that the First National Bank of this city, which was recently cleaned out by Cashier Pratt, shall go into the hands of a receiver. The directors do not think itwise to resume business until all outstanding claims are settled. Mrs. Nell, the lady who was on the absconding cashier's paper to the extent of about $40,000, refuses to pay the notes, and a long lawsuit is in prospect.
13.April 20, 1889The Morning NewsSavannah, GA
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ANOKA'S BROKEN BANK. The Woman Who Indorsed the Cash ier's Checks Refuses to Pay. MINNEAPOLIS, MINN., April 19.-The Tribune's special from Anoka, Minn., says: "It has been decided that the First National Bank of this city, which was recently cleaned out by Cashier Pratt, shall gointo the hands of a receiver. The directors do not think its wise to resume bosiness until all the outstanding claims are settled. Mrs. Nell, the lady who was on the absconding cashier's paper to the extent of about $40,000, ref ises to pay the notes, and a long law suit is in prospect.
14.April 20, 1889Richmond DispatchRichmond, VA
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A Bank to Go into the Hands of a Receiver. (By telegraph to the Dispatch.] MINNEAPOLIS, April 10.-A special from Anoka. Minn., to the Tribune says It has been decided that the First National Bank of that city, which was recently cleaned out by Cashier Pratt, shall go into the hands of a receiver. The directors do not think it wise to resume business until all outstanding claims are settled. Mrs. Nell, the lady who was on the absconding cashier's paper to the extent of about $40,000. refuses to pay the notes and a long lawsuit is in prospect.
15.April 21, 1889St. Paul Daily GlobeSaint Paul, MN
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WILL HAVE WATERWORKS. Anoka Begins Business in That Direction. Special to the Globe. ANOKA, Minn., April 20.-The committee on water works appointed by the mayor, met this afternoon and engaged G. E. Beach, of Minneapolis, to draw up plans and specifications for a system in this city. Mr. Beach will begin his work Monday. L. G. Browning has been appointed receiver of the First national bank. A frame house owned by George Warren, was burned last night. It was valued at $1,800; fully insured. It was doubtless the work of an incendiary.
16.April 21, 1889St. Paul Daily GlobeSaint Paul, MN
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WILL HAVE WATERWORKS. Anoka Begins Business in That Direction. Special to the Globe. Anoka, Minn., April 20.-The committee on water works appointed by the mayor, met this afternoon and engaged G. E. Beach, of Minneapolis, to draw up plans and specifications for a system in this city. Mr. Beach will begin his work Monday. L. G. Browning has been appointed receiver of the First national bank. A frame house owned by George Warren, was burned last night. It was valued at $1,800; fully insured. It was doubtless the work of an incendiary.
17.April 23, 1889Evening JournalWilmington, DE
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National Capital Notes. WASHINGTON, April 23.-Postmaster General Wannamaker has made the following appointments: Paul Vandervoort, of Nebraska, to be superintendent of mails at Omaha, Neb., and Henry A. Thomas, of Massachusetts, to be superintendent of mails at Boston, Mass., vice Peter J. Hughes, resigned. Irvine Miller, of Chicago, was appointed secretary of the Sioux Indian commission. Mr. Milier is a son of Associate Justice Miller, of the supreme court. The acting comptroller of the currency has appointed George McNeir, of Minneapolis, receiver of the First National Bank of Anoko, Minn., which failed April 6 last.
18.April 25, 1889Delaware Gazette and State JournalWilmington, DE
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Broken by Cashier Pratt. ANOKA, MINN April 19.-I has been decided that the First National Bank of this city which was recently cleaned out by Cashier Pratt shall go into the hands of a receiver. The directors do not think It wise to resume business until all out-stand. ing claims are settled. Mrs. Nell, the lady who was on the absconding cashier's paper to the extent of about $11,000, refuses to pay the notes and a long law suit 18 in prospect.
19.May 17, 1889The Hot Springs StarHot Springs, SD
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What Pratt Stole. Receiver McNeir, of the First National bank at Anoka, has completed his statement of assets and liabilities and forwarded the same to the controller at Washington. The exact figures are not made public, but the liabilities amount to about $100,000. Unless the bank is held for the Nell notes, the assets will more than cover the indebtedness. Mr. McNeir is of the opinion that Pratt lost the most of his plunder in speculations, and that he got away with only about $5,000 in cash.
20.March 6, 1891St. Paul Daily GlobeSaint Paul, MN
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The Anoka Bank Settlement. George McNeir, the receiver of the First National bank, of Anoka, has made the following cash settlement with stockholders: H. L. Ticknor,$8,000; A. C. Frauman, $5.000; H. N. Peck, Minneapolis. $6.500; E. L. Reed, $1.000; Carlton college, $3,000; C. G. Jackson, $1,000; Clark Bros., $1,000; C. T. Woodbury, $1,000; D. Woodbury. estate, $1,000; Henry Bogel, $1,000; E. S. Page, $1,000; total, $32.500. The following stockholders were unable to pay their assessment: D. C. Dunham, $4,500; W. Hammons, $2,000; P. F. Pratt, $10,000; George I. Giddings, $1,000; total, $17,500.
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.
