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Report of the Receivers. Sr. PAUL, Jan. 15.-The receivers of the Bank of Minneapolis have filed with the court their statement of their assets and liabilities. The nominal assets amounted to $8,170,726, and the liabilities to creditors $2,825,592. Including cash on hand when the receivers took possession they have now on hand $165,218. This amount includes about $21,000 realized from deposits on Dec. 32, 1896.
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STATEMENT FILED. St. Paul, Minn., Jan. 14.-The receivers of the Bank of Minneapolis filed with the court their statement late this afternoon. The nominal assets amounted to $3,170,726 and the liabilities to creditors, $2,325,522. Including cash on hand when the receiver took possession they now have on hand $165,213. This amount includes about $25,000, cash realized from deposits on December 22, 1896.
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STATE OF MINNESOTA, DISTRICT Court: County of Hennepin, Fourth Judicial District. Luth Jaeger, as Receiver of the Scandia Plaintiff, Bank of Minneapolis, vs. D Anln
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BANK OF MINNEAPOLIS CLOSED. Trouble with the Clearing House Ends Its Sensational Career. MINNEAPOLIS, Minn., Aug. 27.-The Bank of Minneapolis closed its doors at noon to-day by order of its President, R. D. Kirby of Chicago. There was but little surprise in banking circles, as the failure or suspension of the bank bad been regarded for some time as inevitable. The investments of the bank were unproductive, and the institution had been undergoing a process of dissolution for several years, the capital having been reduced from $300,000 to $100,000 and the deposits from $500,000 to $150,000. Officials of other banks in the city say the defunct concern will pay its depositors in full. The direct cause of closing is a request made by the Clearing House a few days ago that the bank charge off its real estate investments. This President Kirby refused to do. To-day $17,000 of demand certificates were presented, and the bank was closed without paying them. The Bank of Minneapolis has had a sensational history. First was the embezzlement and flight of Phil Scheig, the teller. Then came the suicide of Cashier Bofferding. then the story about the torture and imprisonment of Director Holbrook by a bloodthirsty desperado. These stories had the effect of weakening the bank's standing, and it has been on the down grade for several years.
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KENYON IN CHARGE. He Finds the Bank of Minneapolis' Affairs in Good Shape. Bank Examiner Kenyon has taken charge of the Bank of Minneapolls, and is now engaged ir looking over its business. He states that as soon as possible he will apply to the courts for a receiver to wind up the affairs of the institution. Mr. Kenyon also said that the action of President Kirby, of Chicago, in summarily closing the bank, was entirely unwarranted, and it appeared to him unnecessary. "From my knowledge of the business and the paper of the bank," he said, "I believe it could have continued in business and liquidated itself without any loss to the depositors. Now, with the expense and embarrassment caused by legal proceedings, I only hope the depositors will not suffer any losses. As to the trouble Mr. Kirby had with the Minneapolis Clearing House association, I do not know. It was about the value of certain real estate, which the bank held as security. As far as I have been able to look the assets over, I find the bank's business not to have been in a bad shape." A statement was asked from Vice President and Cashier W. B. Augir, and he expressed his surprise and disapproval of the action taken by Mr. Kirby, in no uncertain words. "You can not say that Mr. Kirby was ill advised," he said, "for he took no advice. He was rather unadvised, as he did not consult the Minneapolis directors in the proceedings. The matter was a complete surprise to them, as it was to the general public. "Could the bank have liquidated without closing?" was asked. "Liquidate? Why, it could have continued in business and carried on a profitable business," was the reply. "I have not seen Mr. Kirby since the bank closed and cannot understand his reason for taking the summary action he did." A notice was posted on the bank's doors stating that it was in the hands of the bank examiner. The doors were locked, but this did not deter a large number of depositors from an attempt to secure an interview with the bank officials. They were rarely successful, but were not generally apprehensive of losing their money, but of their misfortune in-having their funds tied up while the bank went through the legal proceedings of a receivership.
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NYE AS RECEIVER. He Is Put in Charge of the Bank of Minneapolis' AGairs. The expected application for the appointment. of a receiver for the Bank of Minneapolis has been made. The bank examiner petitioned the court for an appointment, in order that the affairs of the bank might be wound up, and the only question was as to whether President Kirby would like some other plan of liquidation. Since he lent his voice to the petition, there was no alternative, and Judge Russell appointed Frank M. Nye to look after the affairs of the bank. The court entered his name in the order, fixing the amount of his bond at $250,000, which he immediately furnished, with a surety company as surety, at the expense of the estate. The order and bond were filed at once, and the receiver entered into the discharge of his duties. Schedules will be prepared at once, and filed as soon as complete. Receiver Nye expects to name no attorney, at least for the present, as he will conduct the legal work himself as economically as possible.
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LOCAL BUSINESS COMPLICATIONS. The Sheriff has received an attachment against the Bank of Minneapolis, Minn., which suspended a few days ago, from Kneeland, Thomson. Stewart & Hoeljes for $9,000. in favor of Charles J. Ferrin, jr., on an assigned claim for money deposited in the bank by Austin Hall & Co., of Minneapolis. The arrangements for the attachment were made over the long-distance telephone The attachment was served on the National Bank of Commerce here. The Sheriff received two attachments yesterday against Charles H. Peckham. wholesale jeweller. of No. 45 Maiden Lane, in favor of Monroe Engelsman for $1,286 and Philip Silberman for $323. They were served on Mr. Peckham's assignee.
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RECORD BROKEN OVER A WIRE, Affidavits Sent by Telephone from Minneapolis to New York. The record for the transmission by long distance telephone of affidavits in an attachment case was beaten the other day by the sending of an affidavit from Minneapolis to New York city. The law firm of Knecland, Thompson, Stewart & Hoelljes, 320 Broadway, received a telegraphic message from Austin, Hall & Co., of Minneapolis, stating that they had obtained an attachment against the Bank of Minneapolis for $9,000 for money deposited. The message said the bank had suspended and that it bad a balance at the National Bank of Commerce of New York city which the firm desired to obtain. The firm saw the necessity for haste and advised their clients by wire to assign the claim by telephone to some representative at New York city. Arrangements were accordingly made and the telephoned affidavits were written out at this end, and an affidavit was made as to the identity of the voice. All these papers were attested by a notary, taken into court and, after being approved, placed in the hands of the sheriff for service. This prompt action tied up the funds of the Bank of Minneapolis on deposit with the National Bank of Commerce. A member of the law firm that transacted the business admits that there can be no question as to the legality of proceedings of this nature, provided care is taken to identify the voice as heard over the telephone as that of the maker of the affidavit. He said the .court of appeals had thrown out one case in which the voice was not identified, but that other cases have been indorsed by the higher courts.
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Plenty of Cash for Creditors. Frank M. Nye, as receiver of the Bank of Minneapolis, filed his inventory of the insolvent concern with the clerk of the district court yesterday. The schedules are very voluminous and show that at the time of the receivership the appointee received from the bank assets amounting to $228,319.94, valued by the rece ver at $127,580.88; besides n lot of "charged off" paper, whose face value was $167,040.53, which the receiver thinks might possibly be worth $10,000, making the total valuation of all the assets, $137,569.92. The receiver has paid the state from the cash on hand, $18,694.58. The amount of cash received up to Oct. 1 by the receiver was $3,899.62. The total liabilites, exclusive of stock, are $107,940.
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Judge Eliott has issued an order permitting the Crown Chemical company to bring an action to enforce the stockholders' liability against the stockholders of the Bank of Minneapolis. Judge McGee has issued an order to Paul Swenson, assignee of the West Minneapolis Supply company, to dispose of $2,300 worth of accounts in his hands, the balance of the assets of the company. C. H. Childs, receiver to collect and enforce the statutory liability of the stockholders of the Bank of New England, has been ordered by Judge Simpson to pay a dividend of 25 per cent to the creditors of the defunct bank. James Finley and Frank Pierce were arrested Thursday night on Twelfth street, between First and Second avenues south, on a charge of vagrancy. The men are alleged to have contemplated holding up an old man named Deutsche. The Minnesota Academy of National Sciences will celebrate the twenty-fifth anniversary of its organization with a public meeting early in January, at the public library. Scientific papers will be presented and features of interest arranged which the general public may enjoy. President Folwell, of the park board, is opposed to the action of the charter commission in taking from the park board the right to purchase and condemn land. The parks need something more, he says, than mere administration. They call for the exercise of discretion, taste and special skill. The material and parts for the new organ of Westminster church have arrived, and the workmen are busy night and day putting the parts together. The work is necessarily slow and it will be a number of weeks before it will be ready for use. The committee does not expect it to be ready much before the middle of January A quarterly conference of the Associated Charities will be held this evening at the residence of Mrs. S. B. Williams, 406 Ninth street south. The topic for discussion will be "Friendly Visiting." A large attendance is desired, and representatives from churches and missions will be cordially welcomed. L. F. Griffith, 78 years old, a trusted employe of the Western Union Telegraph company, died at the family residence, 13½ Fifth street northeast, Tuesday. The funeral took place yesterday afternoon at 2 o'clock,-interment at Lakewood. The deceased was prominently identified with the fight for Irish freedom and his memory will be held sacred by his countrymen.
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News in Brief. The livery stable of Thomas Kehoe, Minneapolis, with 43 head of horses, was destroyed by fire. Loss, $20,000. Crookston is going to build a $6,000 steel bridge. Andrew Elkton, who claims to have been drugged and robbed in a Moorhead saloon, has sworn out a complaint against the owner of the place where the affair occurred. Russell Delano, aged 7 years, was killed by an electric car in front of his home in Minneapolis. The accident occurred about 7 o'clock in the evening, but it was nearly midnight before his parents knew what had happened to their only child. While walking on the railroad track between Moriska and Auburn, Mr. Miller, of Biwabik, lost a roll of bills containing $500. The Winona street railway company has laid off its conductors. Fare boxes have been placed in the cars. and hereafter the motormen will have entire charge of the running. There is talk of establishing a home for aged people without relatives by the German Lutherans of Belle Plaine. Frank M. Nye, réceiver' of the Bank of Minneapolis, has been authorized to pay a dividend of 40 per cent to the creditors. Invitations have been issued for the wedding of Ignatius Donnelly and Miss Marion Olive Hanson at the Norwegian Methodist church in Minneapolis, Feb. 22.
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News in Brief. The livery stable of Thomas Kehoe, Minneapolis, with 43 head of horses, was destroyed by fire. Loss, $20,000. Crookston is going to build a $6,000 steel bridge. Andrew Elkton, who claims to have been drugged and robbed in a Moorhead saloon, has sworn out a complaint against the owner of the place where the affair occurred. Russell Delano, aged 7 years, was killed by an electric car in front of his home in Minneapolis. The accident occurred about 7 o'clock in the evening, but it was nearly midnight before his parents knew what had happened to their only child. While walking on the railroad track between Moriska and Auburn, Mr. Miller. of Biwabik lost a roll of bills containing $500. The Winona street railway company has laid off its conductors. Fare boxes have been placed in the cars. and hereafter the motormen will have entire charge of the running. There is talk of establishing a home for aged people without relatives by the German Lutherans of Belle Plaine. Frank M. Nye, receiver of the Bank of Minneapolis, has been authorized to pay a dividend of 40 per cent to the creditors. Invitations have been issued for the wedding of Ignatius Donnelly and Miss Marion Olive Hanson at the Norwegian Methodist church in Minneapolis, Feb. 22. More than half of the business portion of Hoffman was wiped out by fire. The new Odd Fellows nall at Mankato was formally dedicated with appropriate ceremonies. Joseph Makowsky, of Hopkins, was found by the roadside with his skull fractured. He died the next day. Duncan Cameron, an explorer, was killed by wolves near the boundary line north of Ely. Eleven dead wolves were found around him. Joseph Bisnett, a farmer near Win, nebago City, fell off a load of hay and broke his neck.
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BANK SETTLEMENT. Receiver Frank M. Nye Makes a Report for the First Year. MINNEAPOLIS, Nov. 10.-Frank M. Nye, receiver of the Bank of Minneapolis, has made a report to the court covering the first year, and asks that it be accepted and his compensation fixed. The receiver has collected $64,507.20. and of this he has paid out $30,622.58 in dividends on order of the court. The receiver has taken. on account of services, $2,000. and clerk and attorney fees have used $2,900. There is $6.920 on hand, and incidental expenses have amounted to $1,500. Among the collections $6,000 were secured on the sale treal estate. The account does not include various settlements which have been effected where there were no cash payments, but where they were made by order of the court.
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Claims Cleaned Up. The final account of Frank M. Nye, as receiver of the Bank of Minneapo.is, just filed with Court Clerk Dickey, shows a very satisfactory condition of affairs. Of $136,393.06 in claims filed against the receiver, including $59832.96 in preferred claims, all but $.0,599.31 has been cleaned up.
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BANK IS WOUND UP. Receiver Nye, of the Bank of Minneapolis, Steps Out. Judge Simpson yesterday filed an order allowing the final account of Frank M. Nye as receiver of the Bank of Minneapolis, and fixing his compensation at $4,000, inclusive of clerk hire, which was itemized in the bill for services rendered at $1,500. The expense account was allowed with the exception of one item of $250, which was disallowed, and $50 was added to the account as the estimated expense of completely winding up the business of the estate.