350401164 35040
national
36078fa169c9644cCapital injected, Full suspension
Other: Comptroller-appointed receiver was named; controller later ordered a 100% assessment on stockholders to raise funds for depositors.
Click image to open full size in new tab
Decided to Close. Grand Forks, N.D., Dec. 31.--Ata meeting of the directors of the Second National Bank, this morning, they decided not to open for business The following notice was posted on their doors: "Onaccountofrecentheavy withdrawals of deposits and the impossibility of realizing on our assets, it has been decided by our board of directors to suspend, and the comptroller has been advised of our action."
Click image to open full size in new tab
North Dakota Bank Closes. GRAND FORKS, N. D., Dec. 31.-The directors of the Second National Bank of this city to-day decided not to open for business. The following notice was posted: "On account of recent heavy withdrawals of deposits and the impossibilities of realizing upon our assets, it has been decided by our board of directors to suspend and the comptroller be advised of our action." It is said by the officers that immediately following the failure of the National Bank of Illinois and the Bank of Minnesota, the bank had sustained a shrinkage of $40,000, while their deposits amounted to about $17,000 during the past fourteen days.
Click image to open full size in new tab
ANOTHER BANK CLOSES. St. Paul, December 31.-A Grand Forks, North Dakota, special to the Dispatch says: The directors of the Second National Bank of this city this morning decided not to open for business. The following notice was posted. "On account of the recent heavy withdrawals of the deposits, and the impossibility of realizing upon our assets, it has been decided by our board of directors to suspend. The comptroller has been advised of our action." It is said that after the failure of the National Bank of Illinois and other banks in Minnesota, the bank's deposits sustained a shrinkage of $40,000. The statement of December 17 gave loans and discounts, $158,036; due other banks and depositors, $179,749.76. The capital stock was $50,000; undivided profits, $40,000.
Click image to open full size in new tab
Grand Forks Bank Closed. Grand Forks, N. D., Jan. 1.-The directors of the Second National bank of this city Thursday morning decided not to open for business. The following notice was immediately posted on their doors: "On account of reçent heavy withdrawals of deposits and the impossiblities of realizing upon our assets it has been decided by our board of directors to suspend and the comptroller be advised of our action."
Click image to open full size in new tab
Receiver for Two Banks. Special to the Globe. GRAND FORKS, N. D.,Jan. 6.-E. C. Tourtelot, receiver of the Grand Forks National bank, has been apointed receiver of the Second National bank.
Click image to open full size in new tab
BANK FAILURES. Big Concerns All Over the Country Closing Down. The McKinley "wave of prosperity" seems to be spreading all over the country and banks and large business concerns are going into liquidation by the score, The following failures were reported over the private wire of E. B. Outhbert & Co., yesterday and they were kindly furnished to the HERALD cry the above named firm: There were two failures in North Dakota yesterday (Saturday) morning The Second National Bank, at Grand Falks, N. D., closed its doors soon after opening. The cause of the failure was on account of heavy withdrawals of de posits and the impossibility of realizing on the assets. Soon after the above failure the Farmers & Merchants bank, at the same place, went into voluntary liquidation. Nebraska also had a failure. At Omaha the Savings Bank closed its doors yes terday morning for the same cause as those given above. The bank was capitalized at $150,000 and had on deposit $1,300,000. The "Lone Star State" does not escape either. Friday evening the large retail dry goods house of Fellman & Grumback, of Galveston, and one of the oldest business firms in Texas announced their inability to continue business. Vesterday the preferences were given to the amount of $195,000. The liabilities, it is said, will be at least one million dollars.
Click image to open full size in new tab
Receiver for Two Banks. GRAND FORKS, N. D., Jan. 7.-E. C Tourtelot, receiver of the Grand Forks National bank, has been appointed receiver of the Second National bank.
Click image to open full size in new tab
The Insolvent Banks, WASHINGTON, Jan. 8.-The comptroller of the currency has appointed Bank Examiner Blanding temporary receiver of the First National bank of Sloux City, Ia., and Examiner Anheir receiver of the Citizens' National bank of Fargo, N. D. Both of these appointments are temporary, pending resumption. Bank Examiner E. C. Turtelot has been appointed receiver of the Second National bank of Grand Forks, N. D. The comptroller has received information that the Commercial National bank of Roanoke, Va., which suspended some time ago, has raised sufficient funds with which to go into liquidation without the Intervention of a receiver.
Click image to open full size in new tab
RECEIVERS NAMED. Pending the Resumption of Suspended National Banks. WASHINGTON Jan. 7.-The comptroller of the currency has appointed Bank Examiner Blading temporary receiver of the First National Bank, of Sioux City, and Examiner Anheirr receiver of the Citizens National of Fargo, N. D. Both of these appointments are temporary, pending resumption. Bank Examiner Turtilot has been appointed receiver of the Second National Bank, of Grand Forks, N. D. The comptroller has re eived information that the Commercial National Bank, of Roanoke, Va., which suspended some time ago, has raised sufficient funds with which to go into liquidation without the intervention of a receiver. Denver, Col., Jan. 7.-The American National Bank reopened today under new management, with $600,000 cash on hand to meet the liabilities and conduct business. There remains but $200,000 of liabilities to be provided for out of all the other assets of the bank. Eau Claire, Wis., Jan. 7.-The Commercial Bank of Eau Claire, capital $30,000, closed today. The failure is due to the suspension of the Allemannia bank, of St. Paul. President Allen states that the Eau Claire institution will wind up affairs, and that depositors will be paid in full.
Click image to open full size in new tab
Receivers for National Banks. WASHINGTON, Jan. 7.-The comptroller of the currency has appointed Bank Examiner Blancing temporary receiver of the First National bank of Sioux City and Examiner Anheir receiver of the Citizens' National bank of Fargo, N. D. Bank Examiner Turilot has been appointed receiver of the Second National bank of Grand Forks, N. D.
Click image to open full size in new tab
Lynched an Incendiary. ORANGEBURG, S. C., Jan. 8.-Lawrence Brown, the negro who is generally believed to have been connected with the burning of Robert Wanamaker's barns and stables at Stiliton last week, was lynched during the might. Receiver for Two Banks. GRAND FORKS. N. D., Jan. 8.-E. C. Tourtelot. receiver of the Grand Forks National bank, has been appointed receiver of the Second National bank
Click image to open full size in new tab
Assessed Stockholders the Limit. GRAND FORKS. N. D., June 26.-Controller Eckels has ordered an assessment of 100 per cent on stockholders of the suspended Grand Forks National and Second National banks. The capital stock of the former is $20,000 and of the latter $50,000. The entire amount must be paid by July 14 or payments in three monthly installments from that date secured at once.
Click image to open full size in new tab
Assessed Stockholders the Limit. GRAND FORKS, N. D., June 26.-Controller Eckels has ordered an assessment of 100 per cent on stockholders of the suspended Grand Forks National and Second National banks. The capital stock of the former is $20,000 and of the latter $50,000. The entire amount must be paid by July 14 or payments in three monthly installments from that date secured at once.
Click image to open full size in new tab
Eckels Orders an Assessment. Grand Forks, N. D., June 29.--Controller Eckles has ordered an assessment of 100 per cent on the stockholders of the suspended Grand Forks National and Second National banks. The capital stock of the former is $20,000 and of the latter $50,000. The entire amount must be paid by July 14. or payments in three monthly installments from that date secured at once.
Click image to open full size in new tab
Eckels Orders an Assessment. Grand Forks. N. D., June 28.-Controller Eckles has ordered an assessment of 100 per cent on the stockholders of the suspended Grand Forks National and Second National banks. The capital stock of the former is $20,000 and of the latter $50,000. The entire amount must be paid by July 14, or payments in three monthly installments from that date secured at once.
Click image to open full size in new tab
New Reading of Banking Laws. GRAND FORKS, N. D., July 22.-E. C. Tourtelot, as receiver of the Second National bank, which closed its doors some time ago, has brought suit against the wholesale firm of Nash Bros. for $3,000, on the ground that the firm drew that amount from the bank just before its close, knowing that the bank was insolvent and that the amount was necessarily an asset of the bank. The case is one that is entirely new in this state. The suit is brought under the national banking laws.
Click image to open full size in new tab
ARE PAYING UP. Assessment Met by Stockholders at Grand Forks. GRAND FORKS, N. D., Aug. 18.-On July 14 the controller of the treasury assessed the stockholders of the Grand Forks National bank and the Second National bank, both of this city, 100 per cent, and a later order made it necessary to pay 10 per cent of that amount at once. On Aug. 14, 40 per cent of the amount was due. Receiver Tourtelot states that 30 per cent is already liquidated. With the coming of more prosperous times after harvest, it is quite likely that most of the stockholders will have paid their share, and the depositors will get another dividend.
Click image to open full size in new tab
AT GRAND FORKS. The Street Fair to Be a Great SneΡΠ΅ΡΡ and a Unique Feature. Grand Forks, N. D., Special.-One of the most important cases to come up at the next term of the federal court is that of E. C. Tourtelot, receiver of the Second National bank, against Nash Bros., wholesale grocers and fruit merchants of this city. Just before the bank closed Nash Bros. drew a considerable amount from the bank, and the receiver claims the sum as a part of the assets of the institution. Already the merchants of the city are at work on booths for the street fair. Interest in the fair is increasing and it bids fair to be the event of the year in this part of the valley. The county jail is filled to overflowing. and Judge Fisk will convene a term of court Oct. 6 for the purpose of disposing of cases. There are no very important ones in the list, most of them being for evading the liquor law and hold-ups.
Click image to open full size in new tab
Cash for Bank Creditors. Snecial to the Globe. GRAND FORKS, N. D., Oct. 15.-The comptroller of the currency has authorized a dividend of 20 ner cent to depositors of the suspended Second National bank. Claims in now aggregate $150,000.
Click image to open full size in new tab
in bis report as stockholder's agent of the North Dakota National bank. Mr. Hanway was given twenty days to secure bondemen, and the extension was made on the request of the Security Trust company, which will, it is said, go on his bonds on January 22. Mr. Hanway is still in New York. A. A. Trovaten, formerly editor of the 'Dakota" at Fargo, and now a merchant at Kent, Minn., has been held to the grand jury at that place in $10,000 bonds. Torvaten had a mortgage on some oats belonging to a farmer, and on finding that the latter had sold them, proceeded to his place and began to help himself to other oats. The wife of the man interfered, and in a scuffle Trovaten pushed her down, she breaking several ribs in the fall, and her life being still despaired of by physicians. A suit of considerable importance, and of somewhat unusual character is in process of trial in Grand Forks county, the taking of testimony having begun Tuesday. When the Second National bank was in operation Nash Bros., wholesale fruit dealers, were among its heaviest depositors. On Dec. 29, 1896, the firm withdrew a deposit of 83,000, and on Dec. 31, the bank closed its doors. Receiver Tourtelot who was in charge of the affairs of the bank, has brought suit in the district