Article Text
Bank Suspended. The controller has received notice of the suspension of the First National Bank of Minot, North Dakota. The capital of the bank is $50,000.
First National Bank (Minot, ND)
Episode Information
- Episode UID
400901159- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
40090national - Charter Number
- 4009
- Start Date
- July 18, 1896
- Location
- Minot, North Dakota (48.233, -101.296)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
40cd82d1058cb445
Response Measures
None
Receivership Details
- Depositor recovery rate
- 26.0%
- Date receivership started
- 1896-08-12
- Date receivership terminated
- 1899-10-30
- OCC cause of failure
- Excessive lending
- Share of assets assessed as good
- 17.8%
- Share of assets assessed as doubtful
- 52.5%
- Share of assets assessed as worthless
- 29.7%
Description
Receivership appointment reported 1896-08-12 following suspension reported mid-July; no run or cause given in articles.
Events (4)
1.
April 13, 1889
Chartered
- Source
- historical_nic
2.
July 18, 1896
Suspension
- Cause Details
- Notice of suspension reported to the Comptroller of the Currency; no cause or precipitating run given in the articles.
- Newspaper Excerpt
- The controller has received notice of the suspension of the First National Bank of Minot, North Dakota.
- Source
- newspapers
3.
August 12, 1896
Receivership
- Source
- historical_nic
4.
August 12, 1896
Receivership
- Newspaper Excerpt
- Jos. Roach of Northfield, Minn., has been appointed receiver of the First National Bank, Minot, N. D., by Acting Controller Coffin.
- Source
- newspapers
Newspaper Articles (20)
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A Bank Failure. W ASHINGTON, July 18.--The comptroller of the currency has received notice of the suspension of the First National bank of Minot, N. D. The capital of the bank is $50,000.
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National Bank Suspends. WASHINGTON, July 18.-The Controller of the Currency has received notice of the suspension of the First National Bank of Minot, North Dakota. The capital of the bank is $50,000.
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1201 RIE Minot Bank Closed. WASHINGTON, July 18.-The comptroller of the currency has received notice of the suspension of the First National Bank of Minot, N. D. The capital of the bank is $50,000.
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Bank Suspension at Minot. W ASHINGTON, July 21.-The controller of the currency has received notice of the suspension of the First National bank of Minot, N. D. The capital of the bank is $50,000.
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Bank Suspension at Minot. WASHINGTON, July 20.-The controller of the currency has received notice of the suspension of the First National bank of Minot, N. D. The capital of the bank is $50.000.
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Bank Suspension at Minot. Washington, July 21.-The controller of the currency has received notice of the suspension of the First National Bank of Minot, N. D. The capital of the bank is $50,000. L
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La First National Bank, de Mi. not, N. D., a suspendu ses painments. Son capital est de $50,000.
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Went Under. WASHINGTON, July 18.-The comptroller of the currency has received notice of the suspension of the First National bank of Minot, N. D. The capital of the bank is $50,000.
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Receiver Appointed. Jos. Roach of Northfield, Minn., has been appointed receiver of the First National Bank, Minot, N. D., by Acting Controller Coffin.
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MINOR ITEMS OF INTEREST. The Spanish government is inviting tenders in England for the construction of a floating dock at Havana. Li Hung Chang received an arbitra. tion deputation at London and expressed cordial sympathy with the objects of the association. Dr. A. C. Hickey, aged 65, one of the pioneer organizations of the Grand Army of the Republic, died of heart disease at Kingston, Ont. Mollah Reza, who assassinated the late shah of Persia in May last, was hanged at Teheran in the presence of an immense concourse of people. Deputy Comptroller Coffin has appointed Joseph Roach of Northfield, Minn., receiver of the First National bank of Minot, N. D., recently failed. In the International yacht races at Cleveland, Canada finished first in the 46 foot class, Vivia was first in the 40foot class, and Sybil won the 25-foot class. E. S. Sanborn & Co., of Lynn, Mass., manufacturers of ladies shoes, have suspended. Liabilities are placed at $75,000; assests between $50,000 and $60,000.
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BRIEF BITS OF NEWS. The British yacht Valkyrie III, from New York, on July 15, has arrived in / the Clyde. The Second California district Republican convention has renominated Grove L. Johnson. The American Philatetic association is holding a convention at Hotel Lafayette, Lake Minnetonka. Democrats of the Third Minnesota congressional district have nominated H. J. Peck of Shakopee. Floods are doing terrible damage in China. In many places entire towns and villages are submerged. Miss ( ena Rose, a young woman 24 years old, is in jail at Mansfield, O., charged with killing her father, mother and brother with poison. Deputy Comptroller Coffin has uppointed Joseph Roach of Northfield, Minn., receiver of the First National bank of Minot, N. D.. recently failed
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Sparks from the Wires. Major James C. Worthington, of the U. S. A., died at Louisville, Ky., aged 43. Chairman Holt, of the Indiana Democratie committee, says the free silver men will carry the State by 40,000. A dispatch to the London Daily Telegraph from Rio Janeiro says that the Frias Hermanos, engaged in the cattle trade, have failed with $3,000,000 liabilities. Deputy Comptroller Coffin has appointed Joseph Roach, of Northfield, Minn., receiver of the First National Bank of Minot, N. D., which recently failed. The ratification at Columbus of the Republican ticket and opening of the Ohio campaign was a stupendous affair. It was under the auspices of the State Executive Committee and the Ohio League of Republican Clubs, and there was an immense influx of organized clubs and adherents to the party from all over the State. The features of the day were a parade and a mass meeting under a mammoth tent. Senator Sherman presided and Senator-elect Foraker and Gen. Stewart L. Woodford of New York were among the speakers. Among the passengers on the steamship Peru, which arrived at San Francisco from Yokohama and Honolulu, was Mrs. Sanford B. Dole, wife of the president of the Hawaiian republic. The steamship Etruria of the Canard line, while passing Liberty Island, New York harbor, out bound, struck and sunk a grain elevator. Those on board the elevator were picked up by a tug. According to mail advices from the Orient, the commercial treaty between Japan and Germany has been approved by the privy council. The exchange of ratification, and the subsequent publication of the treaty are expected to take place within sixty days.
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BANKERS INDICTED. Prominent North Dakota Men Arrested for Making False Returns. BISMARCK, N. D., March 25.-The banking methods of some of the suspended national banks of the state are being investigated by the United States grand jury now in session. Two indictments have already been found, one against L. E. Booker, ex-state treasurer and president of Grand Forks national band, and the other against H. F. Salyards, president of the First national bank of Minot. Booker is charged with making false returns to the comptroller of the currency. Booker is one of the most popular men in the state and his arrest caused a decided sensation.
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Action on a Note. Joseph Roach, as receiver of the First National Bank of Minot, has commenced action against H. F. Salyards to recover $1,000 on a note given the bank. E. M. Prouty & Co. have been garnisheed in connection with the case and a writ of attachment has been issued.
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Receivers of North Dakota Banks. Washington special says: Senator Hansbrough and W. B. Woods of Grand Forks, called on the controller of the currency in the interests of the latter for the appointment as receivor of the First National Bank at Grand Forks. It is probable that Mr. Woods will receive the appointment. This is one of the few candidates for office in North Dakota who has received the joint indorsement of Senator Hansbrough and Representative Johnson. The controller of the currency said that before any action would be taken towards the removal of Receiver Roach from the First National Bank of Minot, a bank examiner will be detailed to make an inspection of the affairs of the bank. Maj. Edwards of Fargo, who has left for home, was here in the interest of Maj. Murphy's candidacy for receiver of the Minot bank. Maj. Murphy is indorsed by Representative Johnson and will probably secure the place.
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will Send a Man. F. W. Robinson of West Virginia, who was offered the receivership of the First National bank of Minot, has declined the position because of the short time he will be employed. Controller of the Currency Daws has received a number of applications for the place. After a carefull review of the situation with reference to the trust in connection with the report of the special examiner, he is convinced that the trust should be closed in from sixty to ninety days. He has therefore determined to send a man from his office, with instructions to close the business and make a final dividend.
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State Money. Speaking of the state funds in insolvent banks The Wahpeton Globe says: It is quite likely that the Citizens National of Fargo and the First National of Pembina will pay out entirely, while the Grand Forks National may pay 50 per cent. The Second National of Grand Forks has already paid more than 50 per cent, and will pay more. The Minot bank is a case where little will be paid by the receiver and nothing can be collected from the bondsmen. Deputy State Treasurer Cook furnishes The Globe with the following statement which shows the amounts that were in the state depositories at the time of their suspension, and the amounts that are due: Citizens National Bank, Fargo, $48,024.80, balance due, $22,016.16. Grand Forks National Bank, $10,791.44, balance due, $7,554.02. First National Bank, Pembina, $10,508.24, balance due, $3,677.90. Second National Bank, Grand Forks, $3,124.95, balance due, $1,562.51. First National Bank, Minot, $2,866.64, balance due. $2,121.31. Total $76,216.64, balance due, $36,931.90. When the bank pays out the limit then it will be time enough for the state to commence action on the bonds to recover the amounts still unpaid.
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SUMMONS. State of North Dakota. an County of Ward. In District Court, Eighth Judicial District. Joseph Roach, Plaintiff. VS. Solomon G. Comstock. Northwest Land Company. First National Bank of Minot, N. D. The Wood County National Bank of Grand Rapids, Wis., C, E. Rittenhouse as Receiver Summons. of the First National Bank of Minot. N. D. William Hope, Andrew Hope. All other persons unknown claiming any estate or interest in. or lien or incumbrance upon the property described in the complaint and their unknown heirs. The State of North] Dakota to the above named defendants: You and each of you are hereby summoned to answer the complaint in this action and to serve a copy of your answer upon the subscriber within thirty days after the service of this summons upon you, exclusive of the day of service. and in case of your failure to appear or answer judgment will be taken against you and against each of vou by default for the relief demanded in the complaint. C. AURLAND. Dated Nov. 19. 1905. Attorney for Plaintiff, P. O. Address and Office. Minot. N. D. To the Defendants above named: You and each of you take notice that the above entitled action is brought to determine adverse claims and to quiet title to lot 13, in block 7. of the townsite of Minot in Ward county. North Dakota and no personal claim is made against you or either of you, C. AURLAND, Attorney for Plaintif. P. O. Address and Office. Minot. N. D. Dated Nov. 19. 1004. 12-28
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# SUMMONS. State of North Dakota. County of Ward. In District Court, Eighth Judicial District. Joseph Roach. Plaintiff. vs. Solomon G. Comstock. Northwest Land Company. First National Bank of Minot, N. D. The Wood County National Bank of Grand Rapids, Wis.. C. E. Rittenhouse as Receiver of the First National Bank of Minot, N. D. William Hope. Andrew Hope. All other persons unknown claiming any estate or interest in, or lien or incumbrance upon the property described in the complaint and their unknown heirs. Summons. The State of North Dakota to the above named defendants: You and each of you are hereby summoned to answer the complaint in'this action and to serve a copy of your answer upon the sub- scriber within thirty days after the service of this summons upon you, exclusive of the day of service, and in case of your failure to ap- pear or answer judgment will be taken against you and against each of you by default for the relief demanded in the complaint. C. AURLAND, Dated Nov. 19, 1905. Attorney for Plaintiff, P. O. Address and Office, Minot. N. D. To the Defendants above named: You and each of you take notice that the above entitled action is brought to determine adverse claims and to quiet title to lot 13, in block 7, of the townsite of Minot in Ward county, North Dakota and no personal claim is made against you or either of you. C. AURLAND, Attorney for Plaintiff. P. O. Address and Office, Minot. N. D. Dated Nov. 19. 1904 12-28.