Article Text
More Bank Failures, JAMESTOWN, N. D., July 10.-Lloyd's National Bank suspended to-day. Deposits about $220,000. The assets are double the amount of the liabilities.
Lloyds National Bank (Jamestown, ND)
Episode Information
- Episode UID
456101123- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
45610national - Charter Number
- 4561
- Start Date
- July 10, 1893
- Location
- Jamestown, North Dakota (46.911, -98.708)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
548abaf35b6ebb8f
Response Measures
None
Receivership Details
- Depositor recovery rate
- 55.5%
- Date receivership started
- 1893-09-14
- Date receivership terminated
- 1896-01-22
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 38.1%
- Share of assets assessed as doubtful
- 46.1%
- Share of assets assessed as worthless
- 15.8%
Description
Some articles give July 10 while others state July 12 for the suspension; OCR variants include Floyd's in one dispatch.
Events (4)
1.
May 4, 1891
Chartered
- Source
- historical_nic
2.
July 10, 1893
Suspension
- Cause
- Macro News
- Cause Details
- Financial stringency (panic of 1893) and inability to promptly realize on securities caused the bank to suspend.
- Newspaper Excerpt
- This morning Lloyd's National bank announced that owing to the financial stringency and inability to realize on its securities promptly the bank would have to suspend business.
- Source
- newspapers
3.
September 14, 1893
Receivership
- Source
- historical_nic
4.
September 14, 1893
Receivership
- Newspaper Excerpt
- AND now Hon. John D. Benton has been appointed receiver for the Lloyd's bank at Jamestown.
- Source
- newspapers
Newspaper Articles (24)
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Article Text
A North Dakota Bank Closed. Jamestown, N. D., July 10.-Floyd's National Bank suspended to-day. The deposits are about $220,000. The assets are double the amount of the liabilities.
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John Syverson went to Valley City Monday morning on business. Dr. E. M. Johnson will make his next regular visit here July 18 to 20. Lloyd's National Bank of Jamestown, N. D., closed its doors and suspended business last Monday, July 10th.
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SUSPENDED. Jamestown, N. D., July fl.-This inorning Lloyd's National bank announced that owing to the financial stringency and inability to realize on its securities promptly the bank would have to suspend business. The capital stock is $100,000. The deposits are said to be about $220,000, with assets double the liabilities at greatly depreciated values.
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DAKOTA BANKS. Washington. July 15.-Directors of the suspended national bank at Hot Springs. S. D., have notified the controller of the currency that they are making an effort to reorganize, and will probably succeed. They will be given every reasonable opportunity by Eckles. Ernest Schwellenbach. Jamestown, N. D., has applied for the appointment as receiver of Lloyd's National Bank of Jamestown.
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THE LLOYDS' BANK. Conditions Under Which It Will Be Allowed to Resume. Special to the Globe. WASHINGTON, July 22.-Lloyds' National bank. at Jamestown, N. D., will be allowed to resume business under conditions laid down by Comptroller Eckels today as follows: First, all moneys owed the bank by directors or officers must be paid or secured at once; second, enough money must be paid in to carry the bank ninety days and enable it to meet all demands from depositors who do not agree to continue their deposits for a time. This money must not be borrowed by the bank, but paid in by the sharehiolders-new capital, in other words. The probabilities are that the bank will resume with a change of management or not at all. In the latter case a receiver will shortly be named.
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BANK NOTES. Depositors ask for a Longer Time for Resumption of Business. Prospective Re-opening. General Good Conditon of State Banks. A Bit of Bank History in Connection With the Carrington Bank. Mr. Harry Lloyd of the state bank at LaMoure, furnishes the cheerful news that at a meeting of the principal stockholders of that bank Saturday, it was decided to protect the bank if it would reopen, and arrangements have SO far been made as to practically warrant the statement that the bank will be open again for business in about ten days. This action will be very gratifying to all in LaMoure county, and the home officers, who closed the doors simply to prevent a run and further complications, The people who have always done businees at the LaMoure bank have great faith and confidence in the management, and are willing and anxious to help in getting the institution again on its feet. It is understood that the general business of the bank has been conservative, and successfully conducted, and that there are parties-willing to go ahead as if nothing had occurred, and deposit their funds as heretofore. Concerning the Lloyde bank at Jamestown, the following dispatch, sent out from Washington to the northwestern papers is of interest: The Lloyds National bank at Jamestown, N.D., will be allowed to resume business under conditions laid down by Comptroller Eckele, as follows: First, all moneys owed the bank by directors or officers must be paid or secured at once; second, enough money must be paid in to carry the bank ninety days and enable it to meet all demands from depositors who do not agree to continue their deposits for a time. This money must not be borrowed by the bank, but paid in by the shareholders-new capital, in other words. The probabilities are that the bank will resume with a change of management or not at all. In the latter case a receiver will shortly be named. In reference to the above dispatch it is learned that it is not autbentic and is probably a garbled report of several messages, adjusted to suit the occasion. Mr. Thorne, the bank examiner, says that Comptroller Eckele has been in telegraphic communication with the bank on the subject of resuming business, but that the above dispatch is not authentic, and that nothing concerning the bank's affairs has yet been authoratively published by the comptroller.
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THROUGHOUT THE STATE. INTERESTING NEWS FROM ALL PARTS OF THE STATE. A Condensed Record of the Important Hapenings of the Week in North Dakota, Aranged for Rapid Reading. Thursday, July 27. An effort is being made to arrange for opening the suspended Lloyd's bank at Jamestown again. Gov. Shortridge and family and State Auditor Porter and family will camp out at Spiritwood lake for the next few weeks. William Patterson was instantly killed while riding on the trucks of a stock train at Dickinson. His mother and sister live at Ottawa, Out. A large force of convicts at the state prison are making brick for the addition to the state capital. Auditor i'orter estimates that the cash outlay for bricks thus made will not exceed $2.50 per 1,0000.
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Monday, Sept. 1. Charles Lock is wanted by Edward Kennedy of Eureka for selling mortgaged property. Theib Keiser, a farmer near Valley City, was arrested for assault and battery with intent to rape Mrs. John Keim, and fined $40. Another mineral water spring has been discovered near Edgely. North Dakota is certain to be a healthy resort. Barney Lovejoy, a child seven years of age, who lives in Grafton, broke his collar bone while playing with some other children. Wild ducks and geese are congregating on the Little Missoudi river one month earlier than in former years. It is looked upon by some as an indication of a hard winter. The committee of depositors appointed to examine into the condition of Lloyd's National bank, Jamestown, recommends that the bank resume business. Martin Hovde, son of Lars Hovde of Hillsboro, who was killed in a threshing machine accident some days ago, has become insane from grief and been taken to the asqlum. Six Mayville hobos went over to Portland the other night and robbed four Portland hobos who were reposing in a box car, securing a silver watch and $7.37 in cash. The miners at the Plenty mine in Mercer county have been discharged and the mines closed down for the season. The sinking of the first barge, S which was loaded. was too great a drawback to be overcome this year. By the decision of the United States circuit court at St. Paul, the receiver of e the Northern Pacific Elevator company will be required to distribute to farmers the wheat they have delivered to the company, upon return of the company's receipt.
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Monday, Sept. 4. Charles Lock is wanted by Edward Kennedy of Eureka for selling mortgaged property. Theib Keiser, a farmer near Valley City, was arrested for assault and battery with intent to rape Mrs. John Keim, and fined $40. Another mineral water spring has been discovered near Edgely. North Dakota is certain to be a healthy resort. Barney Lovejoy, a child seven years of age, who lives in Grafton, broke his collar bone while playing with some other children. Wild ducks and geese are congregating on the Little Missoudi river one month earlier than in former years. It is looked upon by some as an indication of a hard winter. The committee of depositors appointed to examine into the condition of Lloyd's National bank, Jamestown, recommends that the bank resume busiuess. Martin Hovde, son of Lars Hovde of Hillsboro, who was killed in a threshing machine accident some days ago, has become insane from grief and been taken to the asqlum. Six Mayville hobos went over to Portland the other night and robbed four Portland hobos who were reposing in a box car, securing a silver watch and $7.37 in cash. The miners at the Plenty mine in Mercer county have been discharged and the mines closed down for the season. The sinking of the first barge, which was loaded, was too great a drawback to be overcome this year. By the decision of the United States circuit court at St. Paul, the receiver of the Northern Pacific Elevator company will be required to distribute to farmers the wheat they have delivered to the company, upon return of the company's receipt.
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AND now Hon. John D. Benton has been appointed receiver for the Lloyd's bank at Jamestown. Ten dollars a day for this job in addition to a like sum as receiver for the Mears institution in Fargo, is not so bad-in fact it is about as good as being United States senator -unless a man wants honor for pay.
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After a Bank. JAMESTOWN, N. D., Oct 11.-Bank Examiner Thorne has received instructions from the government to commence proceedings against the officers of Lloyd's National bank, which suspended July 12, here. The examiner has gone to Fargo with the books and papers of the bank for the purpose of introducing them as evidence before the United States grand jury, now in session there. It is understood that District Attorney Camp has received instructions to secure the indictments if the evidence warrants.
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AN INJUNCTION SERVED. Legal Proceedings to Prevent the Transfer of Certain City Property. The Flickertail State Hasa Day at the World's Exposition. The Program. A Cinch Club Organized with Thirty Members.-County Finances. An injunction was served Friday in the matter of an assignment of sheriff's certificate of sale by Lloyd's National bank to Kate E. Glaspell, involving certain city lots in Jamestown and other property. The injunction is issued from the office of Clerk Montgomery of the United States court, in an action entitled Jno. D. Benton, receiver, vs. S.L. Glaspell and Kate E. Glaspell, defendants, and was served by Depaty U. S. Marshal Hurst of Devils Lake. It is to restrain and prevent the transfer of any of said property pending a hearing of issues pertaining to it. Another matter of interest in connection with the bank affairs is the filing of the bond in the amount of $50,000 of F. B. Fancher, to whom W. M. Lloyd recently made a general assignment of property for the benefit of the bank's creditore; also the publication of the inventory of Mr. Lloyd's assets and liabilities. This inventory is given as follows:
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After a Bank. JAMESTOWN, N. D., Oct 11.-Bank Examiner Thorne has received instructions from the government to commence proceedings against the officers of Lloyd's National bank, which suspended July 12, here. The examiner has gone to Fargo with the books and papers of the bank for the purpose of introducing them as evidence before the United States grand jury, now in session there. It is understood that District Attorney Camp has received instructions to secure the indictments if the evidence warrants.
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Article Text
After a Bank. JAMESTOWN, N. D., Oct 11.-Bank Examiner Thorne has received instructions from the government to commence proceedings against the officers of Lloyd's National bank, which suspended July 12, here. The examiner has gone to Fargo with the books and papers of the bank for the purpose of introducing them as evidence before the United States grand jury, now in session there. It is understood that District Attorney Camp has received instructions to secure the indictments if the evidence warrants.
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Article Text
After a Bank. JAMESTOWN, N. D., Oct 11.-Bank Examiner Thorne has received instructions from the government to commence proceedings against the officers of Lloyd's National bank, which suspended July 12, here. The examiner has gone to Fargo with the books and papers of the bank for the purpose of introducing them as evidence before the United States grand jury, now in session there. It is understood that District Attorney Camp has received instructions to secure the indictments if the evidence warrants.
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Article Text
After a Bank. JAMESTOWN, N. D., Oct 11.-Bank Examiner Thorne has received instructions from the government to commence proceedings against the officers of Lloyd's National bank, which suspended July 12, here. The examiner has gone to Fargo with the books and papers of the bank for the purpose of introducing them as evidence before the United States grand jury, now in session there. It is understood that District Attorney Camp has received instructions to secure the indictments if the evidence warrants.
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Small Returns for Securities. Special to the Globe. JAMESTOWN, N.D., Nov. 19.-Yesterday Receiver Johnson, of the Lloyds National bank, sold at auction to the highest bidder for cash chattel mortgage securities amounting to about $2,700, and $367 was realized, but from this amount must be deducted about $100, the costs of foreclosure. The securities sold consisted principally of decrepit bronchos, dehorned COWS and dilapidated farm machinery.
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Lloyds' Bank Report. JAMESTOWN, N. D., Jan. 13.-Hon. C. C. Johnson, receiver for Lloyds' National bank, has forwarded his report, upon receipt of which at Washington a dividend to the creditors will be paid. The first dividend will be about 10 per cent.
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Lloyds' Bank Report. 81 JAMESTOWN, N.D., Jan. 13.-Hon. C.C. Johnson. receiver for Lloyds' National bank, has forwarded his report, upon receipt of which at Washington a dividend to the creditors will be paid. The first dividend will be about 10 per cent.
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Get Fifteen Per Cent. Special to the Globe. JAMESTOWN, N. D., Jan. 19.-Receiver Johnson, of Lloyds' bank, has received notice from Comptroller Eckels of a 15 per cent dividend, which has been declared for depositors of that bank. The amount is larger than depositors supposed the first payment would be.
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Will Proceed to Collect. Special to the Globe. JAMESTOWN, N. D., Feb. 26.-Under instructions from Comptroller Eckels, Receiver Johnson is calling on the stockholders in Lloyd's National bank for the full amount of their double liability.
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Special National Bank Examiner Seeley is in Jamestown, checking up the accounts of Lloyd's bank, since it was placed in the hands of a receiver.
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Receiver Johnson, of the Lloyds National Bank of Jamestown, will on the 25th inst. pay a final dividend of 10½ per cent.. making in all 55½ per cont to creditors.-Mpils. Journal.