National Bank of Commerce (Duluth, MN)

Episode Information

Episode UID
400101164
Episode Type
Suspension β†’ Reopening
Bank Type
national
Bank ID
40010 national
Charter Number
4001
Start Date
December 11, 1896
Location
Duluth, Minnesota (46.783, -92.107)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
08126d7330208e77

Response Measures

None

Events (4)

1. March 27, 1889 Chartered
Source
historical_nic
2. December 11, 1896 Suspension
Cause Details
Directors voluntarily suspended operations citing inability to make money.
Newspaper Excerpt
A notice posted on the doors stated that owing to inability to make any money in the business the directors had decided to suspend.
Source
newspapers
3. March 17, 1897 Voluntary Liquidation
Source
historical_nic
4. May 1, 1897* Reopening
Newspaper Excerpt
The National Bank of Commerce...suspended in December after paying out eighty per cent. of its deposits. It has reopened within five months from the suspension and paid all of the depositors in full.
Source
newspapers

Newspaper Articles (12)

Article from The Providence News, December 11, 1896

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Article Text

A National Bank Suspends. WEST SUPERIOR, Wis., Dec. 11.-The National Bank of Commerce of Duluth, failed to open for business this morning. A notice posted on the doors stated that owing to inability to make any money in the business the directors had decided to suspend.


Article from Rock Island Argus, December 11, 1896

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Article Text

More Prosperity. Niagara Falls, N. Y., Dec. 11 The First National bank closed its doors today as the result of a run. West Superior, Wis., Dec. 11.-The National Bank of Commerce of Duluth failed this morning.


Article from San Antonio Daily Light, December 11, 1896

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Article Text

ANOTHER BANK SUSPENSION. West Superior, Dec. 11.-The National bank of Commerce of Duluth, fΓ₯iled to open its doors for business this morning. A notice posted on the door stated that the bank expected to pay the depositors at an early.date.


Article from The Scranton Tribune, December 12, 1896

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Article Text

Bank of Commerce Closed. Duluth. Minn., Dec. 11.-The National Bank of Commerce, of this city, closed its doors this morning. Its paid up capital was $200,000. Its last statement showed undivided profits of $10,000; deposits, $200.000, and loans and discounts, $375,000. A notice posted on the door states that owing to inability to make any money in that business, the directors had decided to suspend, and that the bank expected to pay depositors at an early date.


Article from Albuquerque Weekly Citizen, December 12, 1896

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Article Text

Duluth Bank Failure. West Superior. Win. Dec. 11.-The Na. tional Bank of Commerce, of Duluth failed to open this morning. A notice was posted stating that owing to inability to make money the directors had de eided to suspend and expected to pay depositors at an early date. The bank is capitalized at $200,000. has $30,000 sur. plus: deposits $90,000.


Article from The Bryan Daily Eagle, December 12, 1896

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Article Text

Another Bank Goes Under, WEST SUPERIOR, Wis., Dee: 11.-The National Bank of Commerce of Dulu'n failed to open for business this merning. A notice was posted on the door stating that owing to inability to make any money in business the directors decided to suspend. The notice also stated the bank expected to pay depositors at an early date. The bank is capitalized at $200,000 and has $30,000 surplus.


Article from The Saint Paul Globe, December 12, 1896

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Article Text

Duluth Bank Closes. WEST SUPERIOR, Wis., Dec. 11.-The National Bank of Commerce of Duluth failed to open for business this morning. A notice posted on the doors stated that owing to the inability to make any money in the business, the directors had decided to suspend. The notice also stated that the bank expected to pay depositors at an early date. At last report this bank had a capital of $200,000; individual deposits, $867,174; demand certificates of deposit, $29,253; notes and bills rediscounted, $40,000.


Article from The Telegraph-Courier, December 17, 1896

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Article Text

West Superior Bank Suspends. West Superior, Wis., Dec. 12-The National Bank of Commerce of Duluth failed to open for business this morning. A notice posted on the doors stated that, owing to the inability to make any money in the business, the directors had decided to suspend. The notice also stated that the bank expected to pay depositors at an early date. The bank is capitalized at $200,000, and has $30,000 surplus.


Article from Great Falls Weekly Tribune, December 18, 1896

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Article Text

Closed Its Doors. DULUTH, Dec.11.-The National Bank of Commerce failed to open for business this morning. A notice posted on the doors stated that, owing to inability to make any money in the business, the directors had decided to suspend. The notice also etated that the bank expected to pay the depositors at an early date. The bank is capitalized at 8200,000 and has $30,000 surplus. By last report the bank had 8 capital of $200,000; individ ual deposits, $67,174; demand certificates of deposits, $29,258: notes and bills rediscounted, $40,000.


Article from Little Falls Weekly Transcript, December 18, 1896

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Article Text

The National Bank of Commerce of Duluth has closed its doors. The deposits of the bank decreased from $206,000 last June to about $50,000 at the time of its / suspension.


Article from The Black Hills Union, January 15, 1897

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Article Text

DULUTH, Minn., Dec. 12.-The National Bank of Commerce failed to open this morning, and a notice posted on the doors stated that, owing to the inability to make any money in the business, the directors had decided to suspend. The notice also stated that the bank expected to pay depositors at an early date. The bank is capitalized at $200,000 and has $30,000 surplus.


Article from The Mankato Free Press, May 7, 1897

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Article Text

LOCAL ITEMS. -Dora, the daughter of Mr. and Mrs. S. W. Wright, was bitten by a dog on her left cheek Friday evening. Dr. Webster cauterized and dressed the wound, and it is not thought that any harm will result. --The suit of Alexander Anderson VS. Ed. Junket was tried in the municipal court Saturday afternoon. A. E. Hawes, of Chicago, and W. N. Plymat were the attorneys engaged. It will be argued tomorrow afternoon. Geo. Chapman, a well-to-do farmer of Eagle Lake,leftMondaymorning for Port Arthur, Texas, with A. M. Rutan. He will look over the country with a view to locating if he likes it. He wants to live where the winters are shorter than the past one has been. -John Coudert, a traveling man, was arrested ;and locked up Friday for being too noisy, as a result of too great familiarity with the wine cup. The charge of disorderly conduct was preferred against him in the municipal court this morning and he paid a fine of $8.65. -The Republican city committee Saturday filed its financial report with County Auditor Gunders, covering this spring's city election. The total receipts were $302.50 and the total 'expenditnres were $228.46, leaving a cash balance in the hands of the committee of $74.04, -It is not generally known that Jacob Friend, who was tried and acquitted of the alleged murder of Clara Ober,at Blue Earth City, has embarked in the saloon business in this city. He has secured the transfer of a license and is running a saloon in block fourteen,and has been there for about two weeks. -The attention of the county board was taken up Tuesday listening to arguments for and against a petition to form a new joint school district out of parts of districts 112 and 114, of Blue Earth county, and districts 20 and 37, of Brown county, Those who want the new district want a school house nearer to them, while the opponents do not want to pay for another school house. -J. W. Davies, manager of the Judson creamery, was in the city yesterday and expressed himself as strongly in favor of going ahead with the work of the butter board of trade at Tuesday's meeting in this city. He suggests that a weekly selling day be named, and the buyers notified to be present. If a start can be made, there is no doubt that the board will be a success, as Mankato is the natural location for one. -The dog license ordinance is likely to remain a dead letter for another year unless the people of the city show an interest in having it enforced. Mayor Pfau is not likely to order its enforcement unless it is shown to be the desire of the people. From the way the streets are filling up with dogs,it would appear that the services of a dog catcher are needed for a time. -The National Bank of Commerce, of Duluth, of which J. A. Willard is president, suspended in December after paying out eighty per cent. of its deposits. It has reopened within five months from the suspension and paid all of the depositors in full, and is the only suspended bank in Duluth that has done so, and the only suspended bank in the country that has opened within that length of time. In order to do so, a great effort was necessary, and great credit is due to the officers. The bank is now on a more solid foundation than ever before. -The Northwestern May Musical Festival promises to eclipse anything in the way of concert and grand opera ever presented in this part of the country. This splendid affair will be held in the Exposition building, Minneapolis, May 17th and 18th. Special reduced rates will be in effect on all railroads and the very reasonable prices of the festival tickets will induce many people from here and other places to go to Minneapolis for the occasion. The sale of season