Minnesota Savings Bank (St Paul, MN)

Episode Information

Episode UID
3851930691242
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
385193069 hash
Start Date
June 13, 1903
Location
St Paul, Minnesota (44.944, -93.093)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d46381822ed179c5

Response Measures

None

Description

Article 1 uses variant name 'Minnesota State Savings Bank'; receivers are named in Article 2.

Events (2)
1. June 13, 1903 Other
Newspaper Excerpt
Wants Stockholders Held Liable. Judge Jaggard yesterday had on trial the case of Gertrude L. Longfield against the Minnesota State Savings Bank ... and have a receiver appointed.
Source
newspapers
2. April 3, 1904 Receivership
Newspaper Excerpt
BAD FOR DEPOSITORS Minnesota Savings Bank Receivers Promise Little. Messrs. Sheehan and Dickson, the receivers of the Minnesota Savings bank, yesterday filed with Judge Lewis, of the district court, an account brought to date.
Source
newspapers

Newspaper Articles (2)
1. June 13, 1903 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, June 13, 1903

Click image to open full size in new tab

Article Text

Wants Stockholders Held Liable. Judge Jaggard yesterday had on trial the case of Gertrude L. Longfield against the Minnesota State Savings Bank and persons who held stock in the bank. Plaintiff is a creditor of the defunct institution to the extent of $1,356.88, and brought action to fix the liability of the stockholders, and have a receiver appointed. One of the witnesses who testified yesterday afternoon was Congressman F. C. Stevens, who was formerly identified with the bank.

2. April 3, 1904 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, April 3, 1904

Click image to open full size in new tab

Article Text

BAD FOR DEPOSITORS Minnesota Savings Bank Receivers Promise Little. Messrs. Sheehan and Dickson, the receivers of the Minnesota Savings bank, yesterday filed with Judge Lewis, of the district court, an account brought to date. A very poor showing is made. A total of $19,407.32 has been collected by the receivers, of which $11,118.30 has been consumed in expenses, leaving $8,289.02 on* hand. The remainder of the assets, it is contended by the receivers, is composed of real estate of questionable value. Not much will be realized from this source, and it is recommended that it be disposed of in bulk. At the time of the failure of the bank the schedule of assets exceeded the claims of $248,000 that were filed, but it was found the bills. receivable were comparatively valueless and the notes said to be on hand were worth but little, or had been discounted at other banks, with the result that but little more than $8,000 is left. To make it still more likely that the depositors will not receive a dividend the Mechanics National bank of New York recites the court that it should be made a preferred creditor, having acquired from the Allemania bank $10,000 worth of security that had been pledged by the Minnesota Savings bank that could not be disposed of for the amount. The discrepancy is not cited. The Savings Bank of St. Paul seeks to be made a preferred creditor on the same grounds, claiming that $247.25 was lost on an investment of $1,000.