Seven Corners Bank (St Paul, MN)

Episode Information

Episode UID
9335596391124
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
933559639 hash
Start Date
August 1, 1893
Location
St Paul, Minnesota (44.944, -93.093)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2c8b1779343ce71c

Response Measures

None

Description

Contemporary reports attribute failure to internal malfeasance by the cashier; bank made assignment and did not resume.

Events (3)
1. August 1, 1893 Receivership
Newspaper Excerpt
The Seven Corners' bank in this city ... assigned yesterday afternoon. / assignee Westfall filed a statement of the assets and liabilities of the bank this afternoon.
Source
newspapers
2. August 1, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Depositors withdrew heavily amid knowledge/speculation of the bank's weakness and later revelations of cashier embezzlement.
Measures
Some depositors were paid at opening but withdrawals continued until assignment.
Newspaper Excerpt
there was a considerable run on the institution during the early hours today.
Source
newspapers
3. August 1, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was weak and management/cashier misconduct (embezzlement) left it insolvent, producing assignment/suspension of payments.
Newspaper Excerpt
The Seven Corners Bank ... failed this afternoon. / assigned this afternoon.
Source
newspapers

Newspaper Articles (24)
1. May 14, 1892 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, May 14, 1892

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NOTES. Our best bow is due to Judge Conroy, the newly-elected justice of the peace for the east Tom, beg pardon, Judge Conroy, is entitled and fully merits the honors bestowed upon him. James Burns, Tim Kelliher and Chas. McDermott, of this city, in company with John McCarthy and John O'Shaughnessy, of Stillwater, left for New Orleans last Friday to attend the national convention of the A. O. H. St. Lnke's Literary society held their second post lenten social at the residence of Hon. Judge McDonald last Thursday evening. Despite the inclemency of the weather the gathering was of large proportions and the entertainment par +xcellent. Among those who took part in the same were the Misses Egan, Miss Franklyn, Miss Campbell and Messrs. Donnelly, Cole and McCarthy. Bishop McGolrick, of Duluth, was in the city last Sunday, the occasion being the blessing of St. Vincent's church, of which Rev. Father Cosgrove is the esteemed and beloved pastor. Bishop McGolrick preached an eloquent and instructive sermon relative to the occasion at High Mass, and in the afternoon confered confirmation on about one hundred children. At 7:80 in the evening vespers were sung, after which a sermon on Total Abstinence Was delivered by the Rt. Rev. Bishop. This prodigions success, "Spider and Fly," will be presented at the Grand Opera House week commencing May 15, with manifold novelties and a company numbering forty-six who were mostry recruited abroad. The play has been entirely rewritten and reconstructed. The costumes which are said to be very handsome were made especially for this production by Chas. Alias, Costumer for the Drury Lane Theatre, London. The "Spider and Fly" in its new dress has proved one of the strongest novelties and most successful production of the present season. The failure of the Commercial Bank of this city, in some measure, created a panic here last Monday. It was given out that a run would be made on the Seven-corners Bank, of which Billy Banholzer is the esteemed president. The run started, but the complacent air with which Billy sat in the front office of the bank smoking a cigar and paying all who demanded their money, the amount due them had a tendency to quiet the nerves of the depositors. All who want their money can have it, said Mr. Banholzer. we are prepared to meet any kind of a run. But it did not come and Tuesday found everything all serene at the Seven Corners Bank. Not the least of the regrets to be offered by Democrats and Republicans alike is the loss of the present head of the city detective force, John J. O'Connor. To attempt to eulogize him for a past record that is without a stain during his nine years as chief of that department would be superfluous. John O'Connor leaves that office with a consciouspess of having well and truly performed his duties. He has instilled into the minds of the thieving fraternity the one lesson, that St. Paul is a good place for them to keep away from. Socially Mr. O'Connor is one man in a thousand. To see him is to know him, to know him is to respect him and not soon forget him; but to be missed he always will be. The election is over and the question which is now agitating the mind of spoil hunters is the filling of the office of the Chief of Police. Had the late Capt. John Bresette lived to see the result of this late election the question of the selection of chief of police would soon be settled. Bat aspirants for the office are besinging Mayor-elect Wright and a Kilkenny cat fight is now going on among the Republican office seekers. Prominent among them is the present Sheriff, Ed. S. Bean, and the mantle could not fall on better or worthier shoulders. He is eminently qualified to fill the porition and would hold it with the same becoming grace and dignity with which he fills the present office. But his chief opponent is one of his deputies, John Harris. and Harris has a "pull" of no small quantity. The friends of Harris are not few nor isolated, but Bean has a monopoly in that direction and if he really desires the plum will undoubtedly be wearing the star of Chief of Police soon after making his

2. August 2, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, August 2, 1893

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TELEGRAPHIC BREVITIES. ST. PAUL, Aug. 1.-The Seven Corners State bank, capital $100,000. failed this afternoon. UPPER SANDUSKY, O., Aug 1.-The Wyandot County bank suspended. Assets $100,000, liabilities $75,000. NEW ROCHELLE, N. Y., Aug. 1. -John Stephenson, the well known our builder, died yesterday, aged 89 years. CLEVELAND, Aug. - The officers and directors of all savings banks of this city decided to require of depositors notice before the withdrawal of funds. CHICAGO, Aug. 1. - The formal opening of the congress of architects occurred today. The American institute of arenitects elected D. H. Burnham resident. PHILADELPHIA, Aug. 1.-Col. Wm. Fris. muth, aged 70 years. a well known inventor and active organizer of obs du ing the civil war, committed suicide to-eay. OMAHA, Aug. 1.-At a meeting of the presidents of Omaha savings banks this morning it was resolved to require sixty days' notice for the withdrawal of deposits. LONDON, Aug. 1.-The regular of the Royal Southampton Yacht club was held to-day. The course was fifty miles. The Britaunia and Valkyrie died not sail. The American yecht Navahoo wou with case. Satanita second. NEW YORK, Aug. 1.-James Mitchell, of the New York Athletic olub. to-day broke the world's record for putting the fifty-six pound weight. He made thirtv-eight feet one and one-half incues, which is suree feet further than the record. LONDON, Aug. -The Vienna correspond. on' of the News says Russia has resolved to ask China for an explanation of her uiiitude in the Pamire question, in view of the euormous masses of Chinese troops concentrated in the vioinity of Pamire. BUENOR AYRES, Aug. 1.-The radicals at the head of the revolutionary movement now in progress declare their object is to effect a complete revolution, as that of 1890, and to destroy surviving elements of the regime of Ex-President Colman.

3. August 2, 1893 The Evening Herald Shenandoah, PA
Article from The Evening Herald, August 2, 1893

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Bank Failure in St. Paul. ST.: PAUL, Aug. 2.-The Seven Corners' bank in this city, a state institution with a $100,000 capital, assigned yesterday afternoon. It is the first bank failure in St. Paul in more than & year and it is not believed to be a bad one.

4. August 2, 1893 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, August 2, 1893

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St. Paul's First Bank Failure. ST. PAUL, Aug. 2-The Seven Corners' bank in this city, a state institution, with $100,000 capital, assigned. This is the first bank failure in St. Paul in more than a year.

5. August 2, 1893 New-York Tribune New York, NY
Article from New-York Tribune, August 2, 1893

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BANKS CLOSE THEIR DOORS. COMPARATIVELY INSIGNIFICANT CONCERNS WITH SMALL ASSETS AND LIABILITIES. Steubenville, Ohio, Aug. 1 (Special).-The Toronto Banking Company, at Toronto, this county, suspended this morning, and Robert M. Francy was appointed receiver. The bank has securities sufficient to pay depositors, but could not realize enough cash to meet daily demands. The assets are $80,000 and the liabilities $50,000. The suspension of the Toronto Pottery Company was precipitated by the suspension of the banking company. J. McClave was appointed receiver. Its assets are $90,000 and the liabilities about the same. Whatcom, Wash., Aug. 1.-The Bellingham Bay National Bank did not open its doors yesterday morning. Its temporary suspension was caused by the constant withdrawal of deposits for the last ninety days. The assets are $270,000, and the liabilities $160,000. The officers expect to resume in a short time. St. Paul, Minn., Aug. 1.-The Seven Corners Bank, in this city, a State Institution with $100,000 capital, made an assignment this afternoon. It is the first bank failure in St. Paul in more. than a year, and is not believed to be a bad one. The bank was comparatively weak, but its failure will not affect any other banks in this city, as all are in first-class condition. Charleston, S. C., Aug. 1.-The Nickel Savings Bank made an assignment to-day. The Habilities are $20.000, and the nominal assets $41,000. The deposits amount to only $5,000 and will be paid in full. Astoria, Ore., Aug. 1.-The private bank of I. W. Case closed its doors yesterday morning on account of the constant withdrawal of deposits. It is said that the depositors will be paid in full.

6. August 2, 1893 The Sun New York, NY
Article from The Sun, August 2, 1893

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More Banks Suspend. ST. PAUL. Aug. 1.-The Seven Corners Bank in this city, a State institution with $100,000 capital. assigned this afternoon. The bank was comparatively weak. but its failure will not affect any other banks in this city. all being in first-class condition. WHATCOM. Wash.. Aug. 1.-The Bellingham Bay National Bank did not open its doors yesterday morning. Temporary suspension was caused by the constant withdrawal of deposits for the past ninety days. The assets are $270,000: liabilities. $160,000. The bank officers expect to resume in a short time. ASTORIA. Or., Aug. 1.-The private bank of I. W. Case closed its doors yesterday morning on account of the constant withdrawai of deposits. The depositors will be paid in full. CHARLESTON. S.C., Aug. 1.-The Nickel Savings Bank assigned to-day: liabilities. $20.000: nominal assets. $41,000. The deposits amount to $5,000 only and will be paid in full.

7. August 3, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, August 3, 1893

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A ST. PAUL BANK. ST. PAUL, Minn., Aug. 2.-The Seven Corners bank of this city, a state institution with $100,000 capital, assigned this afternoon.

8. August 3, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, August 3, 1893

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ing of the presidents of the savings banks it has been decided to require 60 days notice for withdrawal of deposits. WYANDOTTE COUNTY BANK SUSPENDS. UPPER SANDUSKY, O., Aug. 1.-The Wyandotte County Bank of this place has suspended payment. The matter created but little excitement as the general impression is that the bank is thoroughly solvent, its suspension being brought about by lack of confidence by depositors and impossibility of converting its paper into ready cash. Liabilities are about $70,000, while assets are about $100,000. Dr. R. N. McConnell and J. R. Layton have been appointed receivers. A ST. PAUL BANK COLLAPSES. ST. PAUL, Aug. 1.-The Seven Corners bank of this city, a state institution with $100,000 capital, assigned this afternoon.

9. August 5, 1893 The Morning News Savannah, GA
Article from The Morning News, August 5, 1893

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ST PAUL BANKS GO UNDER. The Suspension of the German-American a Surprise. St. Paul, Minn., Aug. .-The temporary suspension of the German-American National Bank last night, although not unexpected in banking circles, was a great surprise to the general community. Still so confident are the people of the strength of the remaining banks, that, although some depositors are quietly withdrawing money from a few banks, there is no particular excitement or general run on any of the banks. Thesavings banks for several days have been enforcing the 60 day rule, although most of them have abundant resources for anyemergency. The failure of the Seven Corners bank on Tuesday attracted little attention as it had been known to be weak for months. Some of the banks had helped it at times, but felt at the present time a disinelination to continue their help, which seemed only to postpone the failure that finally came. The closing of the German-American bank last night was of a different character. It and its predecessors have been in the city as institutions for years, the first organization having been effected in 1856, and all subsequent changes strengthening and enlarging the bank, which now has $4,000,000 of good commercial paper, its banking house as property besides, worth tleast $1,200,000. and other assetts, which will make $500,000 more, or a total of $5,000,000. The People's bank with a capital of $200,000 has suspended, but no figures have as yet been given out concerning it. Its failure is not considered an important one.

10. August 8, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 8, 1893

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this city to day have occurred as a consequence of yesterday's collapse. ELYIDO, Ill, Aug. 2 -The Lorain Brass anufacturing Co. has a signed. Liabilities over $100,000. SAN FRANCISCO, Aug. 2.-Fresh Co., Importers, have failed. Liabilities, $150,000. DENVER, Col., Aug. 2 -The Safe De posit and Trust Co. has assigned. Liabilities $100,000. BIRMINGHAM, Ala, Aug. 2.-The First National Bank did not open its doors this morning. A notice says all de positors will be paid in full. Inability to realize was the cause. All excitement was promptly allayed and a slight run on the other banks discontinued at noon. CHICAGO, Aug. 2 -The failure of D. Eggleston has been announced on the board of trade. Failures of George G. Parker and T. M. Gregg have been announced. Parker did a large business. Gregg's failure was a small one. AURORA, Iil., Aug. 2.-A cotton mill in this city employing 500 hands has shut down for an indefinite length of time because of lack of demand for its manufactures. WOONSOCKET, R. I., Aug. 2.-The local plant of the Valley Falls Company, engaged in the manufacture of colored cotton dress goods, and running 340 looms with 135 hands and a weekly pay roll of $1,000, shut down yesterday for an indefinite period O Ving to the lack of market for their goods. The same company's mills at Valley Falls, running 1,500 looms and employing 600 hands, shut down also. MITHEUN, Mass, Aug. 2.-The Metheuna cotton mills suspend operations Saturday for one month. Three hun dred operatives will be out of employment and will suffer the loss of $12,000, the amount of the monthly pay roll. The shut down is ascribed to the financial stringency. The Knitted Fabries Company, employing fifty hands, has also issued notices that the works will close Saturday for a month. BOSTON, Aug. 2.-The works of the American Rubber Company, at Cam bridgeport, Mass., closed down this morning for two weeks. This action throws 1,700 operatives out of work CHICAGO, Aug. 2.-Adam Smith & Co., wholesale liquor dealers, assigned this morning. The assets were scheduled at $150,000, liabilities at $125,000. STEUBENVILLE, Ohio, Aug. 1 -R M Francy was appointed receiver of the Toronto Banking Company this morn ing on a suit entered by J M :Clave, cashier, against Jefferson Saltzman, president, and John Logan, partner in the concern The cause of the failure is said to be the stringency in the money market and inability to realize on as sets. The bank commenced business in 1889. ST. PAUL, Minn.. Aug. 1 -The Seven Corners Bank-aStatebank, organ zed September 15, 1886-closed its doors at one o'clock this afternoon. There had been talk about the bank for several weeks, and there was a considerable run on the institution during the early hours to day. WHATCOM, Wash., Aug 1.-The Bell ingham Bay National Bank did not open its doors yesterday morning. Temporary suspension was caused by constant withdrawal of deposits for the last ninety days. The bank officers expect to resume in a short time.

11. August 9, 1893 Morris Tribune Morris, MN
Article from Morris Tribune, August 9, 1893

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Financial Flurry In St. Paul. Sr. PAUL, Aug. 7.-St. Paul experienced a financial flurry this week. Four banks suspended payment. They were the National German-American, West Side, Seven Corners and Peoples. They were all smali banks except the German-American, which had a capita! os $2,000,000. All but the Seven Corners bank will resume in a short time.

12. August 10, 1893 The Manitowoc Pilot Manitowoc, WI
Article from The Manitowoc Pilot, August 10, 1893

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By the suspension of the Seven Corners Bank at St. Paul the city and county funds are tied up.

13. August 10, 1893 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, August 10, 1893

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Financial Flurry In St. Paul. ST. Paul, Aug. 7.-St. Paul experienced a financial flurry this week. Four banks suspended payment. They were the National German-American, West Side, Seven Corners and Peoples. They were all small banks except the German-American, which had a capital os $2,000,000. All but the Seven Corners bank will resume in a short time.

14. August 11, 1893 Oakes Weekly Republican Oakes, ND
Article from Oakes Weekly Republican, August 11, 1893

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Financial Flurry In St. Paul. Sr. PAUL, Aug. 7.-St. Paul experienced a financial Hurry this week. They suspended pay MY Four Dn were the National German-American West Side, Seven Corners and Peoples. 'They were all small banks except my Geritatt=American, which had a capital os $2,000,000. All but the Seven Corners bank will resume in it short time,

15. August 11, 1893 The Iola Register Iola, KS
Article from The Iola Register, August 11, 1893

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THE WEST. THE attorney-general of Colorado has rendered an opinion that the state legislature can take action establishing bullion depositories and issuing certificates thereon which shall be legal tender in the state. JOSEPH DEBOGUE, who is insane over a pump of his own invention, has been brought back to the hospital for the insane at Jacksonville, Ill., from Orange, N.J. THE Seven Corners bank, of St. Paul, Minn., has assigned. THE Wyandotte county bank, of Upper Sandusky, 0., has closed its doors. THE national silver convention met as arranged at Chicago on the 1st. THE Milwaukee & St. Paul earnings for June make a most satisfactory showing. THE Journal, of Mianeapolis, Mina, says that Mgr. Satolli is resolved upon humbling Archbishop Corrigan, of New York. FIVE section men on a hand car on the Vandalia railroad were held up by a single masked man and robbed of nearly $150.

16. August 16, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 16, 1893

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TIED UP COUNTY FUNDS. County Commissioners Discuss Their Status Friday. The county committee on claims has been called to meet Friday evening at S o'clock for the purpose of meeting the sureties on bonds given to the county by banks that have funds in their possession and are at present suspended. These are four banks, as follows: National German-American, the Peoples', the West Side and the Seven Corners. The county attorney will be present, and the situation will be discussed, preparatory to making report to the board of county commissioners, which convenes in regular session the following Monday at 10 a. m. By a misunderstanding the bondsmen of the banks referred to met in the room of the board of county commissioners yesterday morning, but the board of county commissioners had not been called to meet by the mayor as given out to the newspapers, and consequently nothing was done.

17. August 17, 1893 Echo De L'ouest Minneapolis, MN
Article from Echo De L'ouest, August 17, 1893

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C. A. Hawke, ex-caissier de la Seven Corners Bank de St. Paul, qui a dernièrement suspendu ses paiements, a été arrêté sous accu- sation de détournement de 3000 dollars, porté par le président de cette Banque M. W. Bankolzer.

18. August 22, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 22, 1893

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three cays and acquamted facts relating to the suspension of the bank. As soon as the necessary prep arations can be made warrants will be issued for the arrest of the men who appear to be guilty of having violated the national banking laws. NASHVILLE, Tenn Aug. 9 The First Nation Bank of this city suspended after banking hours this afternoon. A statement has not yet been given out WASECA, Minn., Aug. 9.-The Peo ple's Bank of this city failed to open yesterday. The directors held a meet ing Monday evening and voted to suspend. Saturday and Monday there was a heavy run on the bank, with drawing SO much of the funds that demands could not be met. Assetsare $135,000, liabilities $67,000. NEW ORLEANS, La, Aug. 9.-A - run was started yesterday on the Germania Savings Bank, and all who came were promptly paid. When the doors of the Germania were opened this morn ing there was a motley group of people waiting on the outside with their deposit books. The savings bank man agers last night night decided to enforce the sixty day clause. Thisaction has apparently had the effect of allay ing the fears of depositors and the run has ceased. MINNEAPOLIS, Aug 9 The Commer cial Bank of this city closed its doors this morning. The Hamilton Loan and Trust Co. New York, has gone into the hands of a receiver. Fuller Bros & Co. one of the largest hardware firms in New York, and a very old firm, assigned on the 9th. The Automatic Piano Company, New York is in the hands of a receiver. The liabilities are $40,000; assets $10,000 WASHINGTON, Aug 11 -Comptroller Eckles was informed this morning of the suspension of the Waxahachi Na tional Bank, of Waxahachie, Texa Capital, $100,000 NEW YORK, Aug. 11.-The failure of Washington Burrows was announced at the Consolidated Exchange this morning EBENSBURG Pa Aug. - The bank ing firm of Johnston, Buck & Co, of this place, conducting banks at Ebens burg, Carrolltown and Hastings, closed their do rs at noon to day and placed the following notice at the entrance: We have assets in excess of our liabili ties, but owing to the constant demand on us for currency in the last twenty four hours we consider it to the best interest of all concerned to suspend payment for the present Twenty big failures was the record made in New York City on the 10th. NASHVILLE, Tenn, Aug 10.-The suspension of the First National Bank last evening was followed to day by the suspension of payment by the American National Bank, one of the largest and strongest in the city. The bank has a capital stock of $1,000,000 and a surplus fund of $116,000 LEROY, N. Y., Aug -Frank C. Lathrop's bank has closed its doors. He has made an assignment to James Kinny. He claims all depositors will be paid in full and ascribes the failure to the tightness of the monev market. CHICAGO, III Aug. 10.-The South Side State Bank, State and Thirty first streets, passed into the hands of a re ceiver yesterday afternoon. The bank has been doing businesssince. June and the volume of business transacted has been small. The capital stock wasplaced at $200,000, but it is alleged only a small percentage of this sum was paid in The deposits will not exceed $18, 000 and were made largely by the various stockholders of the bank. From present indications it appears that John B. Koetting, cashier of the now defunct South Side Savings Bank, practically looted the bank before leav ing the city. It is estimated that he took at least $109,000 in money and securities, and now Receiver Barth has at ached Koetting's individual property in the hope that some of the stolen money may be recovered. KINGSTON, Aug. 10.-The Caldwell County Bank at this place and the Ex change Bank of Polo closed their doors yesterday morning. Both banks are owned by John D. Cox. There is no run on other banks. ST. PAUL, Minn., Aug. 10.-Assignee Westfall filed a statement of the assets and liabilities of the bank this afternoon. Even the most cursory reading of the documents shows that the Seven Corners Bank was not swamped by hard times, but was wrecked by its cashier, C. A. Hawks. BEATRICE, Neb., Aug. 10.-Jacob Bond, president of the defunct Bank of Cortland, was arrested last night. F. C. Severine, a member of the State legislature, swore out the complaint against him, and the principal charge is that of receiving deposits after the bank was known to be insolvent. LOWELL, Mass., Aug. .-Faulkner's Mills have posted a notice of shut down for two weeks from Friday night in all but the dyeing and finishing departments. The mill runs 9,200 spindles and 142 looms and employs 500 hands. WINSTON, N, C., Aug. 12.-King Brothers' Pure Food Company, doing business on Third street, assigned to day, naming Colonel Thomas H. Stratton trustee. Liabilities, about $5,000; assets, $3,500.

19. October 7, 1894 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, October 7, 1894

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SPECIAL TERM. Saturday's Grind Before the District Judges. The Ramsey county district court special term work yesterday developed the following preliminary proceedings: Judge Brill-William F. Merrill vs. Willians S. Runyon et al.; decree in foreclosure ordered. I. Solomon & Co. VS. Kennedy & Durkee; referred to E. V. Harman to take disclosure of St. Paul & Duluth Railway company as garnishee. In re assignment of D. D. Merrill; order signed limiting time to file claims. In re assignment of Seven Corners Bank; sale of real estate by assignee confirmed. Judge Kelly-Nellie James Ruffner Jackson vs. Annastein W. Hugeman; taken under advisement upon application for leave to file supplemental answer. Louis J. Galvin. VS. City of St. Paul; taken under advisement on motion to set aside judgment and to grant a new trial. John P. Waish vs. City of St. Paul; motion to set aside judgment and to grant a new trial taken under advisement. Macourt Sewer Pipe Company vs. Mary A. Hanley: motions of both parties for judgment on pleadings taken under advisement. Judge Otis-Ancher Investment Company, vs. Columbian Electric Company: demurrer to complaint overruled. John Wilkes vs. C. Shields; submitted on demurrer to complaint. Judge Kerr-In re assignment of Hans 0. Sarby; bids on stock and soda fountain approved. Francis H. Boitwick VS. Robert J. Strong; sheriff's report of sale confirmed. Judge Egan-Mary E. Sauerwein vs. Egbert G. Handy; to be taken up next week. John Date et al., vs. The Eureka Improvement Company et al.; motion granted to set cause for trial during the present general term. Judge Willis-Hersey Lumber Company vs. James Matthews and others; heard on motion to dissolve a temporary injunction. In re assignment of Mast, Buford & Burwell Company; heard on an accounting by the assignee.

20. May 15, 1895 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, May 15, 1895

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KOERNER RECEIVES CASH. Insolvent Minnesota Banks Make Payments to the State Treasurer. ST. PAUL, May 15.-State Treasurer Koerner has received $5,000 from A. R. McGill, receiver of the Farmers' and Merchants' bank of Minneapolis, as a partial payment on $27,000 of the state's money on deposit with that institution when it became insolvent during the balance financial panic of 1894. The will be made up shortly. Of the amount of state funds carried by banks which became insolvent during the crisis there are now $125,500 outstanding and unpaid. These banks are all located in Minneapolis. The only bank in St. Paul on which the state was caught was the Seven Corners bank. That institution had $10,000 of the state's money when its doors were closed. This was made good by the bondsmen of the bank. Mr. Koerner thinks nearly the whole amount outstanding will be paid to the state before the end of the year.

21. May 17, 1895 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, May 17, 1895

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KOERNER RECEIVES CASH. Insolvent Minnesota Banks Make Pay. ments to the State Treasurer. ST. PAUL, May 15.-State Treasurer Koerner has received $5,000 from A. R. McGill, receiver of the Farmers' and Merchants' bank of Minneapolis, as a partial payment on $27, 000 of the state's money on deposit with that institution when it became insolvent during the financial panic of 1894. The balance will be made up shortly. Of the amount of state funds carried by banks which became insolvent during the crisis there are now $125,500 outstanding and unpaid. These banks are all located in Minneapolis. The only bank in St. Paul on which the state was caught was the Seven Corners bank. That institution had $10,000 of the state's money when its doors were closed. This was made good by the bondsmen of the bank. Mr. Koerner thinks nearly the whole amount outstanding will be paid to the state before the end of the year.

22. April 17, 1896 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, April 17, 1896

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Notes of the Courts. Thomas Davis, who made an assignment a few days ago yesterday filed a schedule of his assets and liabilities. The aggregate of the former is $4,892.77, and the latter foot up $9,273.10. Judge Egan is hearing the case of Otto Walther against The Seven Corners Bank et al., being an action to establish the liabilities of the stockholders for the debts of that defunct institution. The claims aggregate $170,000. Celia Rosell was given a verdict for $570 in Judge Kelly's court yesterday in her suit for damages against Benjamin Braunstein for being run over by one of his delivery wagons.

23. January 25, 1897 New-York Tribune New York, NY
Article from New-York Tribune, January 25, 1897

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WHERE FIVE ACRES WAS ENOUGH St. Paul, Minn., Jan. 24.-According to a decision rendered here yesterday a man's homestead is an indefinite sert of a thing, valued anywhere from $50 to $500,000. A Chicago bank asked for a receiver for William Banholzer, the St. Paul brewer, on a note of $20,000 it had against the old Seven Corners Bank, which failed in 1893. Judge Bunn denied the application, and said: "This cause presents in a very forcible manner the injustice that may be worked by our Homestead law. The defendant is allowed to hold as his homestead five aeres of land in the city of St. Paul, of great value, occupied not only by his dwellinghouse, but by his father's and by a brewery and buildings connected with it, a beer garden and a dancing parlor, and used not only for residence purposes. but for the purpose of carrying on a brewing business. The statute and the decisions of our Supreme Court seem to me absolutely to protect the defendant in his enjoyment of the entire five acres, however he way elect to use his property."

24. February 1, 1897 Vilas County News Eagle River, WI
Article from Vilas County News, February 1, 1897

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A PECULIAR HOMESTEAD LAW. Bank's Suit Brings Out on Odd State of Affairs in Minnesota. St. Paul. Minn., Jan. 25.-It came out in a trial here that a man can hold as a homestead five acres of land, two houses and a brewery. The property is valued at over $100,000. The case was that of the National Bank of the Republic of Chicago for the appointment of a receiver for William Banholzer. Banholzer was president of the Seven Corners bank, which failed August 1, 1893, owing the Chicago bank $19,000. In denying the application Judge Bunn said the case presented in a very forcible manner the injustice that may be worked by the Minnesota homestead law. He proceeds: "The defendant is allowed to nold as his homestead five acres of land in the city of St. Paul. of great value, occupied not only by his dwelling house, but by his father's, and by a brewery and buildings connected with it, a beer garden and & dancing parlor, and used not only for residence purposes, but for the purpose of carrying on a brewing business. The statute and the decision of our Supreme court seem to me to absolutely protect the defendant in his enjoyment of the entire five acres, however he may elect to use his property."