10. Fairbanks Banking Company (Fairbanks, AK)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 29, 1914
Location
Fairbanks, Alaska (64.838, -147.716)

Metadata

Model
gpt-5-mini
Short Digest
f3dfd9a9

Response Measures

None

Description

Articles consistently describe the Fairbanks Banking Company as defunct and under a receiver (Receiver Noyes). There is no mention of a depositor run prior to suspension — instead the bank is in receivership and involved in litigation. Therefore this is classified as a suspension leading to permanent closure (suspension_closure).

Events (3)
1. January 29, 1914 Receivership
Newspaper Excerpt
The report of the receiver of the Fairbanks Banking company... showed a balance on hand of $51,084.33. ... Now that Receiver Noyes, of the defunct Fairbanks bank, has a new attorney ... is devising ways of earning his salary. (1915 article references Receiver Noyes).
Source
newspapers
2. January 29, 1914 Suspension
Cause
Government Action
Cause Details
Bank is in receivership and described as defunct; court-appointed receiver managing assets following bank failure/insolvency.
Newspaper Excerpt
The report of the receiver of the Fairbanks Banking company, Capt. Barnette's bank, showed a balance on hand of $51,084.33.
Source
newspapers
3. June 11, 1914 Other
Newspaper Excerpt
After hearing the arguments in the suit brought by Receiver Noyes... Judge Noyes... decided today for the plaintiffs, the receiver having failed to prove to the satisfaction of the court that the bank was insolvent at the time the dividend was declared. (court decision regarding recovery suits).
Source
newspapers

Newspaper Articles (10)
1. January 29, 1914 The Alaska Daily Empire Juneau, AK
Article from The Alaska Daily Empire, January 29, 1914

Click image to open full size in new tab

Article Text

# GLEANINGS OF GREAT # NORTHERN EMPIRE The report of the receiver of the Fairbanks Banking company, Capt. Barnette's bank, showed a balance on hand of $51,084.33. Much of this sum, however, is held to pay dividends already allowed by the court to persons where the money has been garnished or where there is dispute as to whom it should be paid. M. E. Lane, the Myers Chuck, Ketchikan district, salmon salter, has sold his saltery at Myers Chuck, and will build a salting station at Kendrick Arm. Nome has an indoor baseball league, and the contest for the pennant is becoming one of absorbing interest in the Seward peninsula metropolis. There are 115 pupils enrolled in the Nome public school. Late reports received at Fairbanks indicate that the Tanana Crossing country will develop into a good placer camp. It is said that the results obtained by those doing assessment work last fall were very favorable. There are 25 new cabins in the district, and a good deal of work is planned for next year.

2. February 6, 1914 The Ketchikan Miner Ketchikan, AK
Article from The Ketchikan Miner, February 6, 1914

Click image to open full size in new tab

Article Text

principal is now being con- structed at Nome. While it will have in operation a somewhat similar idea to that which is utilized in the cassion dredge, this machine is to work on the ice during the winter time, and its promoters are confident that it will be the machine that will succeed. The ice an Atlin Lake is in a bad condition for teaming work A team and two tons of grub belonging to J. M. Ruffner, the mine owner and operator in that locality, went through the ice and were lost. Charles Vansomers lost a load of wood by going through the ice on Lake Bennett a few days ago, he managed to save his team The ice is about seven inches in thickness.-Whitehorse Star. Wood sells for $7.00 a cord at Cordova. It is rumored that Deputy Marshal Wood, of Chitina, is a candidate for the marshel-ship of the First division, The report of the receiver of The Fairbanks Banking company, Capt. Barnette's bank, showed a balance on hand of $51,084.33. Much of this sum however, is held to pay dividends already allowed by the court to persons where the money has been garnished or here there is dispute as to hom should be paid. Women are not wanted in the Bushana according to Grace Bostwick. She wrote that there fifteen women in the camp, but there is however business opening for women any sort whatever.

3. March 4, 1914 Douglas Island News Douglas, AK
Article from Douglas Island News, March 4, 1914

Click image to open full size in new tab

Article Text

So far as we know Cordova boasts of being the only town in Alaska which harbors a woman juror. Mrs. Sophia Scott is the lady who has the unique distinction, for she was duly summoned on a panel while in the states, but owing to having to leave for Alaska she failed to qualify.-Ex. A buoy lost overboard from the steamship Empress of Russia near Yokokama, Japan, was picked up recently off the west coast of Prince of Wales island, Southeastern Alaska. The speed of the Japan current is estimated from the rate at which the buoy traveled at forty miles a day. It was reported at Kake not long ago that the Killisnoo natives still followed their old custom of hunting deer with their dogs on Admiralty island. It is claimed that they start their dogs at one end of the island while some of the natives at the other end await the arrival of the deer and shoot them. The report of the receiver of the Fairbanks Banking company, Capt. Barnette's bank, showed a balance on hand of $51,084.33. Much of this sum, however, is held to pay dividends already allowed by the court to persons where the money has been garnished or where there is a dispute as to whom it should be paid. Delegate Wickersham, of Alaska, made the longest continuous speech on record in congress while speaking on the Alaska railroad bill. He remained on his feet for five and three quarter hours, and ably answered the interruptions of Representative Davenport, of Oklahoma, one of the leaders of the opposition to the measure. W.H. McNair, better known in Alaska as "Hal" McNair, for many years chief deputy United States marshal for Alaska and afterwards for the First division, serving through the administrations of both L. L. Williams and James M. Shoup at Sitka and Juneau, has been made cashier of the First National bank of Ashland, Oregon, of which institution he has been a director for several years. That the trial marriages among the natives of Alaska under the ancient tribal customs works out better than the modern system is the opinion of Commander Ballinger of the revenue cutter Bear, and in his annual report to the department he recommends that either proper facilities for obtaining divorces in Alasks should be provided or greater precaution should be taken in marrying the native under the Alaska code. Alaska, the Yukon and other British Columbia points where the narrow 36-inch wide dog and sledge trails predominate offer a new field for the light weight, narrow tread, air cooled cycle car. An Indiana firm reports the sale of ten of these cars for immediate shipment to Nome, Alaska, in the Arctic circle. In addition to the regular equipment these ten cycle cars will have spiked rear wheels and runners in front for winter use. This Alaskan order shows that the field of the cycle car and its possibilities know no geographical limit.

4. June 12, 1914 Valdez Daily Prospector Valdez, AK
Article from Valdez Daily Prospector, June 12, 1914

Click image to open full size in new tab

Article Text

FAIRBANKS BANK CASES UNJLU ULUIUCU NY Judge Noyes Renders Opinion Against the Receiver in Efforts to Recover From Directors. FAIRBANKS, June 11.-After hearing the arguments in the suit brought by Receiver Noyes, of the Fairbanks Banking Company and the Washington-Alaska Bank against the stockholders of the bank to recover the amount of money paid the stockholders in dividends, decided today for the plaintiffs, the receiver having failed to prove to the satisfaction of the court that the bank was insolvent at the time he dividend was declared. The case agains Dick Wood and the directors of the bank to recover $13,000 paid by the directors to Wood, the court held' that the defendants were not liable for the money taken. The only case now pending is that of Noyes as receiver versus the former receivers, Hawkins and Mack, who were discharged by Judge Overfield because they paid to themselves from the. funds entrusted to them without securing an order of court so to do. They are being sued for money because of illegal compromise alleged by the receiver by which the bank creditors lost.

5. June 15, 1914 The Alaska Citizen Fairbanks, AK
Article from The Alaska Citizen, June 15, 1914

Click image to open full size in new tab

Article Text

Stockholders Win Out in Bank Case Stockholders of the WashingtonAlaska bank will not be required to make good to the defunct institution the money paid them as dividends. This was decided by Judge Fuller Saturday. The money paid to the bank's directors as dividends must be returned, however. It was held by the court that as the dividends had been paid when the bank was supposed to be solvent, the stockholders were not responsible, even if the dividends were not proper. The court also decided the case of the receiver of the bank against R. C. Wood for $13,000 paid to Mr. Wood for his stock in the Fairbanks Banking Co., by the directors, and Mr. Wood will not have to make the payment. The only remaining case now to be tried is that of Receiver F. G. Noyes against the former receivers of the bank and their bondsmen, and it is probable that the case will not go to trial until after the court returns in September from Iditarod.

6. July 4, 1914 The Socialist Press Fairbanks, AK
Article from The Socialist Press, July 4, 1914

Click image to open full size in new tab

Article Text

Lugubrious wail of An Exploiter Ex-Operator In From The Outside Says Unions Are Hurting BUSINESS. "Throughout the States at writer during the strike in part of men who have money the present time there is invested, or have it to invest, this district, several years aa general business depresand to ask the question what go by another operator who denounced labor unions asun sion, attributable to many are they going to do about canses, and it is difficult to it? Hardly a day goes by but necessary, unfair, unAmerisay where it will end" said can, ruinous to business, to we hear something of the E. R. Jesson, upon arriving investments ele., etc. This hazards that beset capital be man stated that he would in town after having spent cause of the "pernicious acthe winter Outside. "In the shut down his works, throwtivity" of labor unions. West business is very quiet, Wherever poor, oppressed, ing twenty-five men out of and especially in San Francis harassed capital seeks lodgeemployment, and would nevco," he continued ''where er invest another cent in the ment and attempts to multiply itseIf for the benefit of labor unions are perniciously country; that he would take active." its owners by swearing divihis money Outside and put it "While I was in San Frandends out of the hide of the into some enterprise wherein ci-co, representatives of sevworkers, it finds an ever-inhe would be assured of peace cral large manufacturing creasing determination aand prosperity. We may replants came there to look over mong the workers to stand mark parenthetically that the ground, but before they up for their rights and dethis man, so far as closing mand better conditions unhad even decided to build, down and throwing men out the unions made all sorts of a der which to work and of work is concerned, adhergrea'er share in the product demands as to the help and ed to his program, also that of their toil. Up in this isolathe I egulations they should he kept his word in failing to follow. As a result none of ted corner of the earth, alinvest another cent in the most within the Arc ic circle, them would consider settling country, even in wages, for where it could be least exin San Francisco." he failed to pay his men, and pected, this determination The above is the lamentahis name is conspicuous on was encountered. Here in an tion of a gentleman in an in the list of worthless securiunfavorable environment, terview published in the ties that the receiver of the with little experience in conTimes, who is just in from Fairbanks Banking Company ducting industrial warfare, the outside, and who used is advertising for sale. the miners dealt those who to be an operator on Ester But the point we are getwere playing the part of cap Creek. It brings to mind a ting at is the universality italists a blow that many of of such dolorous cries on the similar plaint made to the

7. April 26, 1915 The Alaska Citizen Fairbanks, AK
Article from The Alaska Citizen, April 26, 1915

Click image to open full size in new tab

Article Text

sent or request of the holders 01 of the stock with the secretary filed poration. three-fourths which shall be of evidenced corporate the thereof. corby certificate under the the consolidating corporasigned by the secretary seal tions. a of reciting the and act president of each, sought to be accomplished and the to property sought to be conveyed, gether with the name of the receivwhich of be filed in the cate ing corporation, must said of office certifi- which the secretary of state, none was done. That he the said de Journel. had been informed by Honorable Brodigan. secretary of the State of had Nevada, that no other documents been filed in his office except the original articles of incorporation and the certificate of amendment changing its name. the latter filed on October 8th. 1910. and that therefore there had been no consolidation in law or in fact and no attempt made to comply with the statute in any respect and there was not thereunder. even an ostensible consolidation STOCK SALE VOID. That he, the said de Journel, of believed 8. that the pretended sale the stock of the Washington-Alaska Fairbank of Washington to the banks Banking company was ultra vires and void. for the reason that the minute books of the two corporashow that such a sale was made tions knowingly by the stockhold of the Washington-Alaska bank ers of Washington. directly to the Fair that banks Banking company. and Section 43 of Chapter 191 of the General Laws of Nevada, approved and effective March 24, 1909 provid ed that no bank or trust company. etc., shall invest any of its funds in the stock of another bank or trust company. nor be the purchaset or holder of any shares therein, and the said pretended sale so made on the 12th day of September after 1909. four and one-half months was the said statute had come into effect. and that the statutes of like the State of Washington have a forbidding clause de Journel also stated to he believed that at9 that Said void the and tempted me sale was further of no force and effect, on the furth vio grounds that it was a plain lation er of Section 3. of the Federal 26 Anti-trust Law of July 2. 1890. statute at large. 209. and that therefore Parsons, Schram. Webster, and the Washington Securities company who were seemingly the stockholders who received $250,000. taken Fair- out of the depositors money of the banks Banking company, were the accountable to the receiver of for Fairbanks Banking company and that same could be resame. if suit be brought prior to covered the extinguishment of the remedy by force of the statute of limitations that is to say in September, 1915 That interest could also be recovered upon the said moneys from the of at the usual rate interest, said parties, from the 12th day of Sep- for tember. 1909. that is to say. five and one-half years. MAY REGAIN FUND. 10. That upon the grounds said that there was no valid sale of the Parstock by the owners thereof, sons, Schram, et al., to the Fairbanks said Banking company, and that the thereparties were still the owners Par of. it followed that the said sons, Schram, et al., were liable of to Washington-Alaska bank the Washington and its creditors for for the superadded liability provided in the statutes of Washington of in Article 12, Section 11. wherein constitution of that state, adopt- each the in 1889. it is provided that stockholder ed of any banking corpora- of shall be liable for all debts of such tion corporation to the extent amount of their stock therein addi the the par value thereof. in tion at to the amount invested in such the shares. which said provision of the constitution is repeated in Act of Washington (Rem Banking & Ballinger's Amended Code, ington Section 3698) and that the constitutional and statutory provisions trans- were in force at the time of the action 11.-That alleged. 1 have never before apprised by any attorneys employed, that sums from might be recovered heretofore of been money such Websaid Parsons, Schram, the and the Washington Securities ster or at all. I then looked company. the matter as much as it was be into power so to do. and upon there in my further informed that where were ing only a few months left brought. such action could' be the in and after having read myself provisions of the statutes being hereinbe- no mentioned. and there the left to correspond time fore with entering back and forth as court action necessitated the publica- and tion such of summons in this district the State the entering of actions in and the condition 1 the trail being of my mind about remaining de changed of Washington, threatening. said and brought t e this to Fairbanks and matcourt to present same honorable Outside Journel before have the ters to the said court and passed upon. ATTORNEY NEEDED. NEW -That there were heretofore in the this 12 case, six attorneys three successively judges of appointed by judicial division, and that all successively of was due as to the their the them Fourth resignation resigned: uncomfortable I verily in which they were the influence3 and the opposed ated situation believe. by by first. interests factions placed in sec- cre- the matter of these bank failures;

8. May 15, 1915 The Seward Gateway Seward, AK
Article from The Seward Gateway, May 15, 1915

Click image to open full size in new tab

Article Text

FAMOUS FAIRBANKS BANKING CASE (Continued from Page 1) Banking company was not legal, and for that reason the former stockholders of the Washington corporation are liable for the sum of $150,000, as provided by the constitution of the state, and are also liable for the$250,000 paid out of the deposits of the Fairbanks Banking company. Owing to the fact that the consolidation of the banks was not legal, according to the contention of the receiver, it will be necessary to appoint a receiver to take charge of the assets of the Washington-Alaska bank of Washington and to bring suit against the former directors and stockholders, in the name of the depositors. Mr. de Journel, whom Mr. Noyes wishes to employ as attorney, was the one who first advised the receiver as to the contemplated action. It was he who "dug up" the law applicable, and it was he, assisted by his son Robert, who prepared the brief which was submitted to the court After preparing the brief, he submitted it to one of the foremost firms ofattorneys in the city of San Francisco, and after careful consideration of the matter, he was advised that he was perfectly correct in his contentions."

9. June 1, 1915 The Chitina Leader Chitina, AK
Article from The Chitina Leader, June 1, 1915

Click image to open full size in new tab

Article Text

Now that Receiver Noyes, of the defunct Fairbanks bank, has a new attorney, that gentleman is devising ways of earning his salary. As a consequence Fernand de Journel has induced Judge Bunnell to sign an order citing E. T. Barnette and Isabelle Barnette to appear in court and show cause why they should not be declared in contempt of court for suing the receiver of the Washington-Alaska Bank, without first obtaining permission from the court. According to the contention of the attorney, no one can start suit against a receiver without first obtaining permission to do so. The object of this is to prevent frivolous and expensive litigation for the purpose of hampering or tying up an estate. Last fall, the Barnettes brought suit against the receiver, while there was no judge in the Fourth division, asking that they be awarded the property which is held by the receiver under a trust deed given by Mr. and Mrs. Barnette. They also asked that the $30,000 collected for rent be turned over to them.

10. September 4, 1915 The Nome Daily Nugget Nome, AK
Article from The Nome Daily Nugget, September 4, 1915

Click image to open full size in new tab

Article Text

DEPOSITORS SUE WASHINGTONALASKA BANK A. P. A. Service. SEATTLE, Sept. 4. -Two suits were filed against the Washington-Alaska bank of Fairbanks in the superior court today, the plaintiffs being creditors of that institution who were caught in the late financial troubles of that institution. The two suits involve a total of $3,669.77 alleged to have been deposited in the bank by Elizabeth Smart and W. A. Schienkle. The former asks the restoration of the sum of $865.25 while Schienkle demands the return of $2.804.52. The latter also asks the court to appoint a receiver for sureties held in this state by the bank and also its parent company, the Fairbanks Banking Company.