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Bank in Receiver's Hands. Lake City, Minn., Feb. 25.-The Merchants' bank of this city is closed and in charge of the public examiner. Proceedings have been taken to annul its charter, and a receiver has been appointed. No statement has yet been given out as to the assets and liabilities or as to the cause of the failure,
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Bank Closed. Sr. PAUL, MINN., Feb. 25.-A Lake City, Minn., special to the Dispatch says: The Merchant's Bank is closed and in the hands of the public examiner. Proceedings have been taken to annul charter. R. ii. Moore has been appointed receiver. No statement has yet been given to the public. No information is obtainable as to the cause of the failure, the stockholders being ignorant un to the last moment of the state of affairs. The bank examiner has found that Prisident Holmes had loaned himself between $30,000 and $40.000, while the capital stock was but $50,000 and the surplus but $40,000. Legally he could/have loaned but $9,000. The bank will be dissolvod.
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Lake City Crash. LAKE CITY, Minn., Feb. 25. - -The Merchants' bank, of this city, is closed and in charge of the public exeaminer. Proceedings have been taken to annul its charter. R. H. Moore, of this city, has been appointed receiver, and is likely to qualify within a few days. No statement has as yet been given to the public as to the assets or liabilities, and no information is obtainable as to the cause of the failure. The stockholders were ignorant up to the last moment of the state of affairs. Bank Examiner Lonegren had examined into the bank's condition, and it is doubtless on his report that this action is taken.
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Minnesota Bank Closed. LAKE CITY, Minn., Feb. 25.-The Merchants' Bank is closed and in the hands of the public examiner. Proceedings have been taken to annul its charter. R. H. Moore has been appointed receiver. No information is obtainable as to the cause of the failure, the stockholders being ignorant up to the last moment of the state of affairs. The bank examiner has found that President Holmes had loaned himself between $30,000 and $40,000, while the capital stock was but $50,000 and the surplus but $40,000. Legally he could have loaned but $9,000. The bank will be dissolved.
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Lake City Crash. LAKE CITY, Minn., Feb. 25.-The Merchants' bank, of this city, is closed and in charge of the public exeaminer. Proceedings have been taken to annul its charter. R. H. Moore, of this city, has been appointed receiver, and is likely to qualify within a few days. No statement has as yet been given to the public as to the assets or liabilities, and no information is obtainable as to the cause of the failure. The stockholders were ignorant up to the last moment of the state of affairs. Bank Examiner Lonegren had examined into the bank's condition, and it is doubtless on his report that this action is taken.
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Bank President Violates the Law. LAKE CITY, Minn., Feb. 26.-The Merchants' bank is closed and in the hands of the public examiner. Proceedings have been taken to annul its charter. R. H. Moore has been appointed receiver. The bank examiner has found that President Holmes had loaned himself between $30,000 and $40,000, while the capital stock was but $50,000 and the surplus but $40,000. Legally he could have loaned but $9,000.
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Lake City Bank Closed. LAKE CITY, Minn., Feb. 27.-The Merchant's bank of this city did not open for business Monday, being in charge of Public Examiner Kenyon, the attorney general kaving taken steps to annul its charter. R. H. Moors . has been appointed receiver and will shortly qualify. Assets and liabilities have not yet been made public.
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Another Bank in Trouble. : LAKE CITY, Minn., Feb 26.-A receiver has been appointed for the Merchants bank of this place whose president had borrowed $40,000 of its funds.
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Granted More Time. LAKE CITY. Minn., March 28.-Another extension of time has been granted the Merchants bank corporat on of this city in which to recover its standing without go ng into the hands of a receiver. A settlement of dfficulties is yet probable.
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Granted More Time. LAKE CITY, Minn., March 28.-Another extension of time has been granted the Merchants bank corporation of this city in which to recover its standing without going into the hands of a receiver. A settlement of dfficulties is yet probable.
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LAKE CITY, Minn., July 3.-R. H. Moore, receiver of the Merchants bank of this city, has obtained an order from Judge Gould for a first payment of 25 per cent to depositors, which will amount to about $40,000.
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Depositors but a Dividend. LAKE CITY, M.n., July 3.-D H. Moore, receiver of the Merchants bank of to : city. has obtained an or ier from Judge Gould for is items I syment of 25 per cent to depositors, which will amount to about $40.000.
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Depositors Get a Dividend. LAKE CITY, Minn., July 3.-R. H. Moore, receiver of the Merchants bank of this city, has obtained an order from Judge Gould for a first payment of 25 per cent to depositors, which will amount to about $40,000.
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Sentence Not Yet Passed. Special to the Globe. LAKE CITY, Minn., Nov. 27.-The absurd statement published in an evening paper to the effect that R. H. Moore had been convicted of embezzling funds from the Merchants' bank last January, caused considerable amusement among readers here. W. F. Holmes was the president of the defunct bank and has been convicted of embezzlement, sentence not yet having been passed. At the time of the bank's failure Attorney R. H. Moore was appointed receiver, thus the misconception.
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Second Dividend to Creditors, Special to the Globe. LAKE CITY, Minn., April 25.-R. H. Moore, receiver for the defunct Merchants' bank, of this city, today paid a dividend of 10 per cent to the creditors of that bank. This is the second dividend which has been declared within the past year.