Northwestern State Bank

Episode Information

Episode UID: 75008871521
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7500887 routing
Routing Number: 75-0088
Start Date: September 13, 1926
Location: Cloquet, Minnesota (46.722, -92.459)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 72d09d31947de4fb

Response Measures

None

Description

Article states the Northwestern State Bank closed Monday after a nearby loan-company failure; no reopening or receiver mention in this piece.

Events (1)

1. September 13, 1926 Suspension

Cause: Local Banks
Cause Details: Closed following the Sept. 1926 failure/closing of the Bankers Mortgage Loan Company and contemporaneous runs on other Cloquet banks; contagion from local institutions appears to have triggered the closure.
Newspaper Excerpt: The Northwestern State Bank of Cloquet closed Monday, less than an hour after the closing of the loan company.
Source: newspapers

Newspaper Articles (1)

1. September 14, 1926 The Minneapolis Star Minneapolis, MN

Article from The Minneapolis Star, September 14, 1926

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Article Text

People's Bank, Cloquet, Is Closed After Run Another bank closed its doors today as a result of the closing Monday of the Bankers Mortgage Loan company of Minneapolis. The latter institution was not a bank. The Peoples State Bank of Cloquet closed after a run this morning, according to A. J. Veigel, state bank commissioner. Deposits were approximately $100,000 and capital $25,000. The Northwestern State Bank of Cloquet closed Monday, less than an hour after the closing of the loan company. Deposits in the three institutions totalled approximately $620,000. C. W. Gardner was president of all three organizations. C. P. Osborn was vice president of the two banks and secretary-treasurer of the loan company. LINCOLN ESTATE PROBATED Washington, Sept. 14.—Robert Todd Lincoln, son of President Lincoln, left an estate of $1,125,000, petition for probate of the estate revealed today. Mrs. Lincoln and two daughters, Mary Lincoln Isham, New York, and Jessie Lincoln Johnson, are named as heirs at law.