DETROIT LAKES CRASH MORE BANKS
Dual Closings Today Boosts Week's Failures To Three
ONE CLOSED MONDAY
Shooting Of Two Bankers With Financial Crises
[By Associated two Callaway with deposits 000 because of depleted reserves. Closing of the Security State Bank of Detroit Lakes its totaling $780,000. Continuation records of the First National the largest bank in the which closed Monday.
Wounded Better
Word from physicians that Norby and Frank Murphy, county bankers, found wounded in the Callaway bank, were improving The two bank closings, one here the other follow closely he discovery of the wounded bankers behind the locked doors the Callaway State Bank. Sletvold County Attorney clines to comment on the developments today before he has made investigation closing and shooting of the SecurBank, brother of Norby Lake Park. of the two found shot in the State Bank of laway, Becker County, Tuesday. A run on the Security Bank the last was responsible for the according to state bank examiner, now in charge.
RUN CLOSES NORBY BANK
Closing of Security State at Detroit Lakes Follows Shooting
The Security State bank of Detroit Lakes of which L. J. Norby is presi. dent, was closed today because of de pleted reserves according to A. J. Veigel, state banking commissioner. run was started on the bank after the recent closing of the First National bank at Detroit Lakes. J. Norby is a brother of W. J. Norby. former cashier of the closed Becker County State bank. who with Frank Murphy. president of the Calla way State bank was found seriously wounded in the Callaway bank on Tuesday Neither Murphy nor W. J. Norby have explained how they were shot. The Security State bank was capl. talized at $25,000 and had $780,000 in deposits.
Three railway systems of the Belgian Congo are to be extended and electrified.
Hanging by a clothes line from an improvised gibbet on the second floor of his home, August Laube, 58 years old, 244 Rondon street, St. Paul, was found dead by his neighbors today. Not having seen him for several days, neighbors entered the house and found the suicide. He had been dead for four days. The body was taken to the county morgue and search was made for relatives.
RUN CAUSES BANK CLOSING. Detroit Lakes, Minn, November 12 (A. P.).-The Security State Bank here, with deposit of $780,000. was closed today, marking the second bank failure here within week. The First National, the largest bank in Becker County. was closed Monday. Norby, President of the Security Bank, brother of W. Norby. of Lake Park. one of two bankers found shot Tuesday. A run on the Security Bank during the three days was responsible for the closing
CRUSHED IN ELEVATOR. Harry Killinger, 22 years old, 4673 McNeil avenue, Norwood, was crushed to death yesterday morning in an elevator cab at the Kinney-Rome Bed Company's factory. West Water street. Killinger was employed shipping clerk at the factory The accident not discovered until smoke from friction, caused by belt on the elevator. filled the factory The Fire Department life saving squad was called. but Killinger was pronounced dead.
RUN CAUSES BANK CLOSING
Detroit Lakes, Minn, November 12 (A. P.).-The Security State Bank here, with deposit of $780,000 was closed today. marking the second bank failure here within week The First National, the largest bank in County. was closed Monday L Norby. President of the Security Bank is brother of W Norby, of Lake Park one of two found shot Tuesday run the Security Bank during the three was re. sponsible for the closing
5.November 13, 1926Evening StarWashington, DC
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TWO BANKS CLOSE AFTER SHOOTING Mystery of Wounding of Two Men in Minnesota Institution Nnexplained. By the Associated Press. DETROIT LAKES, Minn., Novem. ber 13.-The mysterious shooting of two bankers in the Citizens' State Bank of Callaway, Minn., was fol. lowed yesterday by the closing of that bank and the Security State Bank here because of depleted reserves. Physicians said another 24 hours must elapse before they will permit authorities to question W. J. Norby, stockholder in the Callaway Bank, and Frank Murphy, its cashier, found in the bank Tuesday suffering from bullet wounds. H. S. Erickson, president of the Callaway Bank, also is cashier of the Security Bank here and both institutions were closed after runs had caused withdrawals imperiling their resources, the banks' officials said. The Security Bank here had deposits of $780,000 and the Callaway Bank had $150,000 in deposits. A. O. Sletvold, county attorney, said he had found nothing in the closing of the banks to warrant any action by him. The closing of the First National Bank here Monday, followed by the unexplained shooting of Norby and Murphy, "caused uneasiness among depositors of the Callaway Bank and Security Bank," in Sletvold's opinion, and led to the runs that forced their closing.
6.November 13, 1926Palladium-ItemRichmond, IN
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PARAFFIN CAUSES DAMAGE BY FIRE HILTERMAN HOME
Paraffin being heated by Mrs Bernard 412 South Sixth street, ignited and set fire to the dwelling early Thursday morning and caused considerable damage. companies answered the to the fire department extinguished the blaze with chemicals. spark from bonfire in the street thought to have caused small fire Friday the home of Ed Benton, 216 North Second street. small portion of weather boarding and roof was burned.
RUN CAUSES BANK CLOSING DEROIT LAKES, Minn., Nov. The Security State Bank here, with deposit was closed terday, marking the second bank failure here within week. The First National, the largest bank in Becker County, was closed Monday. Norby, president the Security bank brother of Norby, Lake Park,one two bankers found shot Tuesday. run on the Security bank during the three days was responsible for the closing.
7.November 13, 1926The Boston Daily GlobeBoston, MA
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TRUST COMPANY IN KANSAS CITY CLOSES KANSAS CITY, Nov (A. The Federal Trust Company of Kansas City, with deposits about $2,000,was closed late today by the Board Governors who voted the institution the hands of State Commissioner. Heavy by in the last the Laughlin the board the were amply protected.
DETROIT LAKES Minn, Nov 12 of the failure within The First National, the Margest bank in Becker County, Monday Norby, president of the Securbrother Norby Lake Park, the two bankers found shot the bank Callaon the during the responsible for the closing.
8.November 13, 1926Public OpinionChambersburg, PA
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BANK CLOSES DOORS KANSAS CITY, MO. CITY, Mo., Nov. 13 Federal Trust of City, deposits about closed yesterday the board governors, the institution the hands state finance Heavy runs depositors in the last caused the move, Laughlin declared. the board believed the were amply trust company general banking business.
DETROIT LAKES, Minn. Nov. 13 with deposits of failed open marking the bank failure within The First National, the largest bank Becker county, closed Norby, president the Security Bank, brother Norby, the two found shot the State Bank of Callaway, Tuesday the Bank during the last for state bank now in charge.
9.November 13, 1926The Berkshire EaglePittsfield, MA
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Closing of Banks Follows Shooting of Two Bankers DETROIT LAKES. Minn., Nov. mysterious shooting of bankers in the Citizens' State bank Callaway was followed yesterday the closing of that bank and the curity State here because reserves. another 24 hours must elapse before they will permit authorities Norby, stockholder in the Callaway Frank Its cashier, found the Tuosday suffering from bullet wounds. Erickson, Callaway bank, cashier Security bank and booth Instituclosed after runs had caused imperilling their resources, the banks' officials The Security here had posits $780,000 the bank had $150,000 deposits. Sletvold, county said found nothing closing banks warrant any ction by him. closing of First National bank here Monday, followed by the unexplained shooting of Norby and caused among depositors Callaway bank bank, and to that their closing.
10.November 13, 1926The Fresno Morning RepublicanFresno, CA
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Messenger Held Up; Bandits Take $35,000
Nov. masked men tonight held Belmont company West 000 they about to enter the the bank Police the who escaped the band that held robbed member textile firm and his sister payrolls more than $3,500 few hours earlier
Two Banks Close In Minnesota
DETROIT LAKES, Nov. Becker county banks, total deposits were closed today by the state banking department because of depleted reserves. The institutions are the Security State bank of Detroit deposits 780,000 and the Citizens' State bank with posits The First tional bank here was closed Monday. Closing of the Callaway bank folaffray Tuesday in which Frank Murphy, cashier, and Norby. stockholder, found wounded in the former's Board Of Governors Shuts Bank's Doors
KANSAS CITY. Nov. Federal Trust Kansas City closed late today the board and voted place the bank the hands of the state finance commisHeavy runs on the bank in the last weeks caused the move, said. He the board believed the deposiamply protected. posits amounted about
11.November 13, 1926Star-HeraldScottsbluff, NE
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Customers Become Suspicious After Two Officials Had Been Found Wounded.
Detroit Lakes, Nov. Mysterious of bankers the Citizens State bank of Callaway, Minn. was followed today by the closof that bank and the Security State bank here because depleted
Physicians said another hours must elapse before they will permit authorities question Norby, holder in the Callaway bank and Frank Murphy, its cashier, found suffering from bullet wounds received the bank Tuesday. H. Erickson, president of the Callaway bank also cashier the Security bank here and both institutions were closed after runs had caused withdrawals imperiling their resources, the banks' officials said. Norby and Murphy, found unconsclous locked room in the the Callaway bank were reported improving today but were not out danger, their physicians said. There has been definite of sponsibility for the double shooting. The Security bank heer had deposits of $780,000 the Callaway bank $150,000 in deposits. Sletvold, county attorney said he had found nothing in the closing of the banks to warrant any action by him. The closing the First National bank here Monday. followed by the unexplained shooting of Norby and Murphy "caused uneasiness among positors the Callaway bank and curity Sletvold's opinion, and led to the runs that forced their closing.
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.
