10035. Merchants National Bank (Great Falls, MT)

View Charter #4434 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
4434
Charter Number
4434
Start Date
July 24, 1893
Location
Great Falls, Montana (47.500, -111.301)

Metadata

Model
gpt-5-mini
Short Digest
f4ee82aa8f33e2c4

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
38.0%
Date receivership started
1893-07-29
Date receivership terminated
1900-01-06
OCC cause of failure
Losses
Share of assets assessed as good
26.7%
Share of assets assessed as doubtful
31.0%
Share of assets assessed as worthless
42.4%

Description

Contemporary articles report heavy daily withdrawals/financial stringency leading the Merchants National Bank to close at noon on July 24, 1893, post a notice asking depositors to await a receiver, and a receiver was appointed by late July. Subsequent articles describe the receiver's actions and criminal charges against the ex-president. Classification: a run (withdrawals due to the financial stringency) led to suspension and receivership (permanent closure). Dates taken from articles' publication dates and internal dates (closure reported July 24, 1893; receivership reported July 29-30, 1893; embezzlement arrest Oct 16, 1893).

Events (6)
1. October 7, 1890 Chartered
Source
historical_nic
2. July 24, 1893 Run
Cause
Macro News
Cause Details
Heavy daily withdrawals amid the broader financial stringency/panic of July 1893; bank was low on cash and could not realize loans quickly.
Measures
Posted notice that depositors must await appointment of a receiver; no successful emergency liquidity measures reported.
Newspaper Excerpt
The steady daily drain was too much for it. ... It had little or no ready money on hand.
Source
newspapers
3. July 24, 1893 Suspension
Cause
Macro News
Cause Details
Bank closed at noon after heavy withdrawals and low ready money; directors posted notice and indicated depositors should await a receiver.
Newspaper Excerpt
Great Falls, Mont., July 24.-The Merchants' National Bank closed its doors at noon. A notice signed by the directors stated that all depositors will be paid in full. ... depositors must await the appointment of a receiver.
Source
newspapers
4. July 29, 1893 Receivership
Source
historical_nic
5. July 29, 1893 Receivership
Newspaper Excerpt
Comptroller Eckels has ordered ... Examiner Weirick of the failed First National Bank of Great Falls, Mont. ... Louis F. Phelps, receiver of the Merchants' National Bank of Great Falls, Montt [sic]. / ... Comptroller ... appointed Louis G. Philips/Louis G. Phelps receiver of the Merchants' National bank of Great Falls, Mont.
Source
newspapers
6. October 16, 1893 Other
Newspaper Excerpt
Will Hanks, president of the Merchants National bank, which recently suspended, was arrested this evening on the charge of embezzlement. Complaint was made by L. G. Phelps, receiver of the bank, on the charge of embezzlement. He was released on $5,000 bonds.
Source
newspapers

Newspaper Articles (22)
1. July 25, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 25, 1893

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Other Failures. SYRACUSE, N. Y., July 24.-The extensive manufacturing firm of Bradley & Co. went into a receivership this afternoon. Judge Vann appointed John Dunn, jr., receiver. The firm manufactured trip ham. mers and the plant 18 valued at $500,000. Liabilities about $350,000. The Judge 18sued an order allowing the receiver to continue the manufacture and sale of the stock on hand. NEW YORK, July -Henry Bach, wholesale dealer in clothing. at No. 737 Broadway. with branchesin Boston and Chicago, has become financially embarassed and has confessed judgment. The liabilities are reported to be over $100,000. He owes several creditors large amounts. Mr. Bach said he proposed to call a creditors' meeting at once and to ofter 30 cents on the dollar as a compromise. CINCINNATI. July 21.-Judge Ricks, of the United States Court. to-day appointed John Eaton receiver of the property in Ohio of the Oil Well Supply Company, of Pittsburg. The appointment is at the instance of Edward H. Cole, a stockholder, and is supplementary to the action taken by the United States Court in Pittsburg in the same suit. ELKHART, Ind., July 24.-J. H. Brande, who brought a large stock of dry goods here from Niles, Mich., about three months ago, has made an assignment to J. H. Nicks, of this city. Assets and liabilities have not been made known. Marshall Field & Co., of Chicago, have brought suit against Brande to recover for goods sold him. GREAT FALLS, Mont., 'July -Merchants' National Bank closed its doors to-day at noon. The bank had $21,000 in city funds and $32.000 of the county and $20,000 of State funds, but has little or ,no ready money on hand. BALTIMORE, July 24.-The Southern Electric Company. one of the big enterprises of this city. made a voluntary assignment to-day. to Merrill N. Packard. The assets are estimated at $175,000; liabilities, $100,000. PLAINVIEW, Neb., July 24.-The Plainview State Bank was robbed, Sunday night. of about $3,000 in cash. In consequence the bank did not open its doors this morning. PORTSMOUTH. O., July 24.-The Citizens' Saving Bank, which suspended about the middle of June, resnmed to-day. ORLANDO, Fla.. July - -The First National Bank of this city closed its doors this morning,

2. July 25, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 25, 1893

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BANK FAILURES. Suspension of the National of Louisville. LOUISVILLE. July 24.-The Louisville City National Bank closed its doors this afternoon. Since the financial stringency began the bank has exerted itself to increase its cash resources, but could make little headway against the general tendency. The steady daily drain was too much for it. The last statement, made July 20, showed the following: Capital stock paid in, $400,000; surplus, $80,000; undivided profits, $22,796. It is hardly probable that the bank will resume. Three years ARO W. H. Pope, its teller, fied with over $70,000, and this was a hard blow to the bank. Bank Examiner Escoll has been placed in charge. The depositors will be paid in full. MILWAUKEE, July 24.-John B. Koetting, cashier of the defunct South Side Savings Bank, has disappeared from the city, and simultaneously the discovery has been made that the general ledge of the institution is not among the effects of the the cashier says bank. President left Trumpff Milwaukee of the last bank Friday and before taking his departure left with him (Trumpff) a power of attorney to convert his real estate and homestead. worth $50,000. into cash for the benefit of the bank's creditors. John Barth was appointed receiver of the bank to-night. TACOMA. July 24.-The Tacoma National Bank failed 10 open this morning. It was one of the best and most conservative banks in the city. Its deposit accounts were very large. and since the failare of the Merchants' National early in June it has been made a special point of attack by frightened depositors. In the last seven weeks it has paid out nearly 50 per cent of its deposits. The bank is believed to be entirely sol. vent, and its officers are confident it will reopen within thirty days. The failure was followed by slightly increased withdrawals from other banks, but no other failures are anticipated, as all other banks are said to be well fortified with cash. GREAT FALLS, Mont., July 24.-The Merchants' National Bank closed its doors at noon. A notice signed by the airectors stated that all depositors will be paid in full. The property of President Banks was attached on Saturday for $25,000, and he was deposed. The assets and lin bilities are not yet known. The bank held $21,000 of city, $32,000 of county and $20,000 of State funds, but has little or no ready money on hand. There is no uneasiness about other banks, PLAINVIEW, Nebr.. July 24.-ThePlain-

3. July 25, 1893 The Times Richmond, VA
Article from The Times, July 25, 1893

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Dearborn-street bankers, have closed their institution without even posting a notice. Their whereabouts seem to be known only to themselves. The deposits are said to aggregate between $20,000 and $30,000. The firm started banking after a successful land speculation at Tolleston, Ind. MANCHESTER, N. H., July 24.-The National Bank of the Commonwealth will suspend payment to-morrow morning. This action was determined on at a meeting of the directors to-night, and the National Comptroller was notified. ORLANDO, FLA., July 24.-The First National Bank of this city closed its doors this morning. The withdrawal of deposits, which, it is said, have been heavy, is given as the cause. The general opinion among the bank's officers is that the depositors will not lose a cent. GREAT FALLS, MONT., July 24.-The Merchants' National Bank closed its doors at noon to-day. A notice signed by the directors was posted, and it stated that all the depositors will be paid in full. The bank held $21,000 city funds and $32,000 of the county, and $20,000 of State funds. There is no uneasiness about the other banks here.

4. July 25, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 25, 1893

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Great Falls Bank Closes. Special to the Globe. GREAT FALLS, Mont., July 24.-The Merchants' National bank of this city closed its doors today at 1 o'clock, and the following notice was posted: "This bank is closed and depositors must await a receiver. We have assets amply sufficient to pay all liabilities. "THE BOARD OF DIRECTORS." The last regular statement showed the bank was low on cash. It was carrying sheepmen heavily, and could not realize fast enough to meet the heavy drain of the last few weeks. Five other banks here are not apprehensive, and some of them. had heavy deposits todav. The capital stock was $100,000; sasets and liabilities are not given.

5. July 26, 1893 The Sun New York, NY
Article from The Sun, July 26, 1893

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Other Bank Troubles. MEDFORD. Wis., July 25.-The Taylor County Bank. owned by Hartman and Matt. assigned yesterday for the benefit of creditors to F. L. Urquhart. The bank was the depository for county and city funds. Assets are given at sconded. $16,000. Herman Matt. the cashier. has abCONNORSVILLE, Ind., July 25.-The liabilities of the Citizens' Bank. which failed yesterday. are about $150,000. Mr. Huston's total assets will reach near $500.000. He holds more than enough collateral to liquidate the total indebtedness of the bank as soon as it can be realized upon. WASHINGTON, July 25.-Examiner Ford has been directed to assume charge of the failed Louisville City National Bank of Louisville, Examiner Escott of the failed Kentucky National Bank of Louisville, Examiner Young of the failed Indianapolis National Bank of Indianapolis. Examiner McDonald of the failed First National Bank of Orlanda. Fla., and Examiner Wilson of the failed Merchants' National Bank of Great Falls. Mon. The Comptroller of the Currency is advised that the Hutchinson National Bank of Hutchinson. Kan., which failed some time ago, is preparing to resume business. The First National Bank of Cisco. Tex., which suspended payment on the third instant. having complied with the conditions imposed by the Comptroller of the Currency. has been permitted to reopen its doors for business. The abstract of the condition of the national banks in Chicago. Ill., on July 12 last. shows the reserve to have been 30.6 per cent. The total lonns and discounts were $81,853,000: individual deposits. $66,000,000; surplus fund. $11,522,000, and gold and gold certificates. $12,500,000. The reserve for Detroit was 24.80, and for Minneapolis, 27.21 per cent.

6. July 27, 1893 The Sauk Centre Herald Sauk Centre, MN
Article from The Sauk Centre Herald, July 27, 1893

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Other Failures. POTTSVILLE, Pa., July 26.-E. J. Gayner, the railroad contractor, has made an assignment for the benefit of creditors without preferences. Judgments amounting to nearly $50,000 have thus far been entered. Assets nominal. GREAT FALLS, Mon., July 26.-The Merchants' National bank posted a notice at noon that it had closed its doors and depositors must wait the appointment of a receiver. CHICAGO, July 26. - Bradford & Church, Dearborn street bankers, have closed their financial institution. The deposits will reach $25,000 or $30,000, due to poor people and children. TOLEDO, O., July 26.-The Farmers National bank of Findlay, O., closed its doors at noon. No statement has been given out as yet.

7. July 29, 1893 The Superior Times Superior, WI
Article from The Superior Times, July 29, 1893

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sion FIRE at Paulding, O destroyed the business part of the city Some thirty buildings were destroved The loss is $200,000. THE Merchants National Bank at Great Falls Mont. has suspended Over 870,000 in public funds are tied up in the bank. IT is stated that the Pennsylvania Railroad will use the long-distance telephonesinstead of the telegraph in hanlling trains. ED. MILLER and Amos Jefferson, both volored, quarreled over a game of eraps it Ottumwa, la. Miller shot Jefferson fatally and escaped. THE city of Managua. Nicaragua, has been bombarded by the revolutionists Minister Baker has sent a protest to the leaders of the revolution. Six HUNDRED unemployed men were fed at Denverb charitable people At the headquarters for unemployed, 1,000 men registered mone day THE Citizens' Bank at Connersville, Ind., owned by ex-United States Treasurer Huston, has failed. The assets are 500.000 and the liabilities $150,000 Officialadvie from Naples, received in Washington, state that cholera has appeared in the first-named city, holera also prevails in Senegal. Africa. a JACOB SUNDERLAND was running traction engine near Munie Ind.. when it went through a bridge He was scalded to death In the boiler's con tents GRESHAM denies that be will be a presidential candidate eyeland ill probably elevate him to the supreme bench INVESTIGATION shows that Shoemaker the killed the Lukens brothers at Me tropolis, III. did not commit suicide as reported. AT Friend Neb. Michael Kesler fired his son house in the hope of remating his wife, " the refused to sign mortgages Gov MARKH whas appointed ex-Gov George ( Perkins nited States sena for tosterced the late Leland Stanford, of California ANDREW SPEAR. negro living in Lima, 1.. shot his wife dead for talking. He then decamped with her body and has not been found THE heretofore thriving city of Pitts burg. Kas. contains 6,000 idle miners and has bee ruined by the strike urged on for political ends JoHN KRIDER a wealthy farmer was thrown from his wagon at Elkhart, Ind. and died later 111 the day of the injuries he received THE McKutchan carriage works at Princeton, III.. were burned to the ground. involving a loss of $20,000 and throwing out of employment over fifty men. DANIEL YOMINKLE well-known man of Chanderville, III.. drowned himself in the Sangation River at Virginia. No reason for his suicide is 1 nown LIEUT CLARK aged 30. son of Dr Mark of Baltimore, Md. was drowned at Fort Custer, Mont He was married about year ago, to Miss Elsie ( lemens, of St Louis OFFICERS of the Kansas Farmer's Alli ance have conceived the plan loaning wheat to destitute farmers until next year LETTER from the captain of the Alexandria totally disproves the rumor about the Mohican having been fired upon. LEE JONES of Indianapolis, convicted of the murder of Thomas Moody in 1872. has been pardoned by Gov. Mat thews. ARPER & BROTHERS hav cheen warned in secret service men not to portray government money on books published by them. CHARLES GREETON, year-old bicycle rider, was killed by falling over an embankment with his wheel near Lebanon. O THE engagement of Dr. Albert Shaw editor of the Review of Reviews, and Miss Bessie Bacon. of Reading Pa., is announced The jury at Fresno, Cal. in the case of Richard Heath. charged with the murder of L. B. MeWhirter, was unable to agree BANKER LITTLE, who killed Attorney Johnston at Kansas City Kas. has been held for murder in the first degree by a coroner's jury. Owing to the economical policy of the Nebraska legislature there are noappro priations to meet current expenses of state institutions Pessoxofficials in purging the rolls have ent off Supreme Judire Charles Dean Long. of Michigan, who lost an arm in the service THE steather Paris made the west ward run from Southampton to Fire Island in 16 days, 9 hours and 30 minutes breaking the record THIS Louis Wood and Pump Com pany has failed. ALL THE Banks at Gatherie, Ok., are experiencing runs. THE Yorktown has sailed from New York for the Pacific station Ix a fall from a scaffold at Elgin. III. Edward Dewel was fatally injured for A RECEIVER has been appointed Truth, the New York publication. THE Burlington Railroad decides on general reduction in its working force WILLIAM SCHW ARTZ because of domes tie trouble took poison at Decatur. III E. 11. TAYLOR, the Frankfort. Kv. distiller. made an assignment No figures. WELLS FARGO will establish bank in New York with a capital o Sweet Thesilves convention at Topeka, Kas is all but a failure. There is a scarcity of bigment THE First National Bank at Harrisot ville. Mo.. failed with $80,000 assets au $40,000 liabilities Miss WINNIE DAVIS is slightly ill Narragutsett Pier. but no apprehension is felt by her friends THE Hotel Vorcelli, at Boston has into the hands of an assignee The debts are $20,000 MRS W. HOLMES was buried a Mattoon III She was consin of John Bright English commoner. \ BOUT 1.00 boilermakers and helpers are off a strike at St. Louis for a nine

8. July 30, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 30, 1893

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Bank Receiver. WASHINGTON, July 29.-Comptroller Eckels has ordered Bank Examiner Thompson to take charge of the failed Chamberlain National Bank of Chamberlain, S. D., and Examiner Weirick of the failed First National Bank of Great Falls, Mont. The comptroller of the currency today appointed receivers of insolvent national banks as follows: Charles T. Gates Jr., receiver of the State National Bank of Knoxville, Tenn.; Louis F. Phelps, receiver of the Merchants' National Bank of Great Falls, Mo nt

9. July 30, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 30, 1893

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TELEGRAPHIC BREVITIES. Matilda Thiliadean has been appointed postmaster at Clark's Ford, Idaho, vice Venton resigned. The Barber Asphalt company at Buffalo, N. Y., have discharged 1,000 men because of dull times. At Kankakee, Ills., the First National bank failed yesterday morning. The assets are sufficient to pay the depositors in full. Comptroller Eckles has appointed Louis G. Philips receiver of the Merchants' National bank of Great Falls, Mont. At Norfolk, Va., yesterday, Rear Admiral George Brown took command of the Norfolk navy yard, relieving Captain Potter. Army officers are about to test at the Frankfort arsenal samples of smokeless powder made by a California powder company. The Citizens' and Loan association of Akron, O., has failed. It will pay III full. The capital is $100,000 and the surplus $80,000. The private bank of C. M. and Thomas Kees at Forest Grove, Or., closed its doors this morning. Theinstitution is believed to be solvent. The First National bank of Kankakee, Ill., have closed, owing to financial stringency, Liabilities, $147,000; assets, $224,000. It is thought depositors will lose nothing. President Enoch Bryant of Vincennes, Indiana, university has been elected president of the state agricultural college and school of science at Pullman, Washington. Robert H. Barclay, chief clerk of the railway mail service at Helena, Montana, has been promoted to be Superintendent of the tenth division R. M. S., with headquarters at St. Paul. The McNeal & Urban Safe and Lock company of Hamilton, Ohio, one of the oldest safe firms in the country, has assigned. The assets are $150,000, liabilities are unknown. The firm claims to be solvent. Commercial bank of Ean Claire, Wisconsin, capital $500,000 was placed in the hands of a receiver today. President Allen said "we calculate depositors will not lose a dollor." There were light runs on other banks.

10. August 5, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, August 5, 1893

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JOTTINGS ABOUT TO WN. A. Porter et conjux has sold to H.B. Reed lot 9. block 48, Northern Pacific addition. for $900. L. C. Stebbins will RO to Cineinnati as the local representative there of the Great Northern railroad. A great forest fire was visible to the north of Helena last night. It appeared to be beyond the Missouri river and was spreading out. The Frances E. Willard W. C. T. U. will give a lawn party on next Thursday evening. Aug. 10, at the residence of Mrs. Stewart, Northern Pacific depot. Inspectors Wayland and Clement are expected back to-day from Seattle with Milt Wall, the colored man who confessed to robbing the registered-mail sacks at Livingston. An official circular from President Oakes, of the Northern Pacific, confirms the report that Chief Engineer Kendrick has been appointed general manager in place of W. S. Mellen. Ed Lafferty, the well known Helena horseman, drove the Oakwood farm's W. Wood in a winner in three straight heats 11 few davs ago at Oakland, Cal., in 2:201/5. 2:12 / and 2:121/6 The state treasurer has began suit against H. P. Rolfe, Will Hanks, Wm. Ulm, S. U. Dickey, C. H. Austin, E. R. Clingan, and John Sinolair, directors of the suspended Merchants bank at Great Falls, to recover $18,000 the state had on deposit in that bank when it closed. The entire force of olerks in the county recorder's oflice is now HB work at nights in changing the figures in the assessment books to conform to the 25 per cent raduo. tion ordered by the county board of equalization. The work has to be finished by a week from next Monday. Peter Maher, the heavyweight pugilist, will be at the opera house Monday night, with "Denvel" Ed. Smith. for an exhibition. Tae most interesting part of the programme will be a go between Maher and Ike Haves, the colored heavyweight Hayes gets $100 if he stands before Maher for four rounds, and the "talent" are betting that he wink the money. The 6 ntiment in favor of receiving city employes' warrants in payment of city taxes and licenses found great favor yester day, and the council will without doubt take steps looking to that end on Tuesday. Employes who could stand the waiting generally held on to their warrants yesterday and refused to stand the exorbitant ahave exacted by the money brokers. With city warrants in the same position as cash for paying taxes and licenses the merchants who receive them for goods will get the benefit of the interest up to the day they are turned into the treasurer.

11. October 13, 1893 The Weekly Tribune Great Falls, MT
Article from The Weekly Tribune, October 13, 1893

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# THE SCHOOL TRUSTEES MEET A School Ordered at Watson-Action on the Black Eagle Falls School Was Deferred. A Helena Man Wants an Option on the Bonds-Cooper and Kellison in a Wrangle. An adjourned school board meeting was held last night. Present, Trustees Wright, Kellison, Atkinson, Cooper, and Gockstetter. The first named acted as chairman in the absence of President Hanks. A school was ordered at Watson for six months and W. G. Frisbie was appointed teacher at $50 per month. Kellison brought up the matter of the Black Eagle Falls addition school, which was asked for at a previous meeting, and stated that there were twenty-two children living in that vicinity. The matter was laid one side until a committee, consisting of Cooper, Atkinson, and Kellison, had time to visit the Boston & Great Falls school and ascertain whether the children can be accommodated there, where they are supposed to attend. A. B. Cook of Helena appeared before the board and asked for an option for fifteen days on the $80,000 high school bonds, which are lying in the vault of a Chicago bank. No action was taken in the matter, but it brought out a lengthy discussion of the bond affair in which all the trustees participated. Wright read a letter from the assistant cashier of the American Exchange National bank of Chicago. That gentleman stated he had received severel inquiries from Great Falls in reference to the bonds, but in the future only communications which came through the receiver of the Merchants National bank would be considered. Attorney Cooper said the receiver of the Merchants bank had been advised by the Chicago bank that the status of the bonds was being looked into. Mr. Cooper gave it as his opinion that the bonds would be here in ten or fifteen days. Kellison made a motion that the county attorney be requested to be present at the next meeting of the board, as he is by law its only legal adviser. This called forth a sharp debate between Cooper and Kellison, during which each paid his compliments to the other. The motion prevailed. Some routine matters were considered, and then the meeting was enlivened by another one of Kellison's motions. It was to the effect that the Townsite company should be compelled to give a bond for a deed to the site of the proposed new high school. The chair refused to entertain the motion and the meeting was adjourned.

12. October 17, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, October 17, 1893

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WILL HANKS ARRESTED. / Charged With Embezzlement by the Con. version of Bonds. Special to The Independent. GREAT FALLS, Oct. 16.-Will Hanks, president of the Merchants National bank, which recently suspended, was a:reited this evening on a complaint sworn out by L. G. Phelps, receiver of the bank, on the charge of embezzlement. He was released on $5,000 bonds. His bondemen are C. D. Wilt, cashier of the same institution, and H. P. Rolfe, one of its directors. The charge of embezzlement is based on the conversion to his own use of fifty shares of Cascade bank stock, assigned to Geo. R. Weils, at one time cashier of the Merchants bank.

13. October 17, 1893 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, October 17, 1893

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Got Another One. Helena, Mont., Oct. 17.-Will Hanks, president of the suspended Merchant's National bank at Great Falls, has been arrested on the charge of embezzlement. He was subsequently released on $5,000 bail.

14. October 17, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, October 17, 1893

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CHARGED WITH EMBEZZLEMENT The President of n Great Falls Bank Ar. rested on a Serious Charge Special Dispatch to the Standard. GREAT FALLS, Oct. 16.-On complaint made by L. G. Phelps, receiver of the suspended Merchants' bank, Will Hanks, expresident, was arrested this evening on the charge of embezzlement. Hanks was arraigned before United States Commissioner Pomeroy and held to appear for hearing Monday under $5,000 bonds. which were furnished. The complaint charges that Hanks converted to his own use 50 shares of Cascado National bank stock with a par value of $5,000, which had been assigned to George A. Wells, cashier, for security.

15. October 17, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, October 17, 1893

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Special to the Globe. GREAT FALLS, Mont., Oct. 16.-Will Hanks, ex-president of the suspended Merchants' National bank, was arrested this evening on the charge of embezzlement. Complaint was made by Receiver L. G. Phelps. and charges that Hanks converted to his own use fifty shares of Cascade bank stock, of the par value of $5,000, which had been assigned to the Merchants' bank as security. Hanks was arraigned before United States Commissioner Pomeroy and placed under $5,000 bonds, which were furnished. The hearing will take place next Monday.

16. October 18, 1893 The Yellowstone Journal Miles City, MT
Article from The Yellowstone Journal, October 18, 1893

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Arrested fo" Embezzlement. GREAT FALLS, Oct. 17. Will Hanks. ex-president of the suspended Merchants national bank. was arrested this evening on a charge of embezzlement. The complaint was made by Receiver L. G. Phelps and charges that Hanks converted to his own use fifty shares of the Cascade National Bank stock. with a par value of $5,000. which had been assigned to the Merchants Bank as security. Hanks was arranged before U. S. Commissioner Pomeroy and placed under 85,000 bonds, which were furnished. Hearing Monday.

17. October 19, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, October 19, 1893

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WILL BE A BUSY TERM. The United States Court Will Have Lots of Business Before It Next Month. Case Against Will Hanks to Be Tried and the Northern Pacific Train Robbers. Men Who Committed Offenses on Indian Reservations Big Damage Sult Against a Mining Company. Judge Knowles will open the term of the United States court in Helena Nov. 6. and the term promises to be a very busy one. There is a large amount of civil business to be attended to, and in addition there are some very important criminal cases to be tried. The case of Will Hanks, president of the suspended Merchants National bank, of Great Falls, will be among the important ones. Hanks is charged by Receiver Phelps, of the Merchants National, with having converted to his own use securities to a large amount that were the property of the bank. Another very important case, and one that will attract A great deal of attention ill be that of Charles Jones and James Smoot, who are now in the county jail. Jones was the leader of the gang that held up the Northern Pacific train in eastern Montana in August. Smoot was with him when one of the possee in pursuit of the robbers was killed at Big Medicine. The charge against them is murde, committed on the Blackfeet reservation. Another important case is that of Milt Wall, who is charged with robbing the Livingaton postoffice. Wall was in the employ of the railroad company at Livingston and his duties were to carry the mail from the postoffice to the depot and vice ve sa. Contrary to the rules in such cases he was allowed to enter the mailing room of the postoffice, a place where others than employes are not supposed to go. He had a key to the room and often when there was an early mail to be sent out he had oppotunities of being there nione. The mail pouches. when made up for the train, are always locked. The keys to the looks, however, are hung on the rack where the mail is made up. In that way Wall had complete necess not only to the mailing room, but to the inside of the mail pouches as well. Something like fifty-six registered letters mailed at Livingston were reported lost. He left Livingaton suddenly, but was arrested in Seattle. He confessed. It is supposed his stealings amounted to about $1,500. Another case involving robberv of the mails that will come up is that of Goo. W. Mo gan. He was a postal clerk, running between Butte and Havre. He opened letterm and took anything of value he could negotiate. He was caught by means of a decoy letter, arrested and confessed. He is supposed to have stolen several hundred dollars. Another case that will attract A great deal of attention is that of the United States against Edmundson and Russell. The charge against them is grand larceny on the Crow reserve. They found a wagon and a camping outfit on the reserve and appropriated it. Edmundson was only pardoned out of the penitentiary in April last. Two of the most ungrateful criminals that will appear before the court are Brennan and Hewitt, if the charge against them is proven. They are cowboys who were in Wyoming and wanted to get to Fort Custer. There is a stage line between Custer and the point where they were in Wyoming, and the driver of the coach, on the day Brennan and Hewitt wanted to make the trip, had six passengers. The cowboys had no money. but the stageman nevertheless ng eed to carry them. which he did to Fort Custer. The next day. on the return trip, it is charged that Brennan and Hewitt held the driver up and robbed bim of the fares he had collected on the trip on which they had been deadbeaded. There are two cases against men on the charge of selling whisky to Indians. One is against a man named Puivis, the offence alleged to have been committed on Blackfeet reservation. The other is against a man named Smith, charged with selling whisks to the Crows

18. October 19, 1893 The Worthington Advance Worthington, MN
Article from The Worthington Advance, October 19, 1893

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Embezzlement Charged. GREAT FALLS, Mon., Oct. 18.-Will Hanks, ex-president of the suspended Merchants National bank, has been arrested on the charge of embezzlement. Complaint was made by Receiver L. G. Phelps, and charges that Hanks converted to his own use 50 shares of Cascade bank stock.

19. May 4, 1894 The Weekly Tribune Great Falls, MT
Article from The Weekly Tribune, May 4, 1894

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A marriage license was issued yesterday to James Daugherty, aged 24, of Sand Couiee, and Annie Rue. aged 24, of Great Falls. The following suits were commenced against H. P. Rolfe in the district court yesterday: L. G. Phelps, receiver of the Merchants National bank of Great Falle, two suite, one for $26,780, and one for $12,500; Great Falls Water company for $199. The Yellowstore Journal says: Fergus county is now in the lead in the way of supplying the reform school, the first consignment having arrived this morning and consisting of four children of Mrs. French of Lewistown-three girls and a boy-who where here at the instance of their mother for incorrigibility. The Caledonian club gave a social at Elks' hall on May 1 which proved to be a most enjoyable affair. There was instrumental music by Mr. Shields; a brief historical sketch of Scotland by J. R. Mackenzie; addresses by Mr. Burrell of Sand Coulee, and Dan McKay of this city; a song by Mr. Green; a solo by Mr. Goldie and a duet by Messrs. Hawber and McDonald. There were a large number present who greatly enjoyed the exercises.

20. May 6, 1894 The Helena Independent Helena, MT
Article from The Helena Independent, May 6, 1894

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# ONE OF THE DIRECTORS. He Wasn't Informed of the Condition of the Accounts of Bank Patrons. An "Irish Dividend" the Only One Declared by the Merchants. Bookkeeper Burns Figuring up Hanks' Individual Liability - Indictments Found by the Grand Jury. The United States court only put in half a day on the trial of Will Hanks yesterday, the jury being excused for the afternoon. Thos. E. Brady, one of the directors of the Merchants' National Bank of Great Falls, wanted to get home on account of sickness in his family. Bookkeeper Brady was allowed to stand aside so that Mr. Brady could go on the witness stand. Mr. Brady testified that he was a director in the Merchants National Bank of Great Falls from the latter part of January, 1892, until the close of the bank. He did not know that W. H. Burgess & Co. had an account at the bank until after its suspension. Hanks had never mentioned the fact to him that Burcess & Co. had ove drawn their account at the bank; nor had witness ever been advised as to Hanks' individual indebtedness until a few days before the bank closed. Cashier Wilt, at the first meeting of the directors after witness was elected, presented a statement to the board of directors, which indicated an excellent condition of affairs, and that a dividend might be expected shortly. On being interrogated by Attorney Carter as to whether a dividend had ever been pail, he eplied that an "Irish dividend" had been declared, and that was all. Witness was asked by J. B. Leslie, assistant prosecuting attorney, if he ever saw a certifente of stock of the Cascade Bank of Great Falls, and said he had not; that he did not know the Merchants bank owned such a certificate of stock. The attorneys for the defense, on cross-examination, endeavored to prove by Mr. Brady that the directors had full knowledge of the condition of the accounts of patrons. The witness, however, testified that the board of directors had no such facts brought to their attention. Bookkeeper M. S. Buns was recalled. He was made to identify another lot of checks and some more book entries relating to Hanks' individual account at the bank. The prosecution was not through with him when the case was adjourned until Monday. At the time of adjournment witness had run up Hanks' individual indebtedness to something over $20,000. From present indications the case will run for more than a week yet.

21. December 9, 1894 The Helena Independent Helena, MT
Article from The Helena Independent, December 9, 1894

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HANKS NOW TURN The Defendant's Story of His Connection With the Merchants Bank of Great Falls. HIS ASSETS WERE ABOUT $120,000. The Reasons Given for Nogotiating the Different Notes and the Transfer of His Ranch. R cross-examination of Dr. was A. concluded The the treasury expert, court yesBarrett. in the United States was government terday and then the against will through with its case with misapprowhom it charges the MerHanks, $25,000 of the funds of Falls priating National bank, of Great opening chants' Carter then made the said that Lawyer statement for the defense. He of rectihad pursued a course Falls Hanks community of Great He tude in the man might be proud of. Merthat any the organization of the the subspoke of in 1890. and of make chants bank who falled to scribers to the stock Hanks was their subscriptions of good prosperous circumstances all as an then credit in and regarded by man. good young business the enterprising of the subscribers to good When some the bank falled to make order to stock subscriptions, of Hanks, in in his their the organization understa put facilitate it was the the own note to which, be carried along until parties. Ing. was sold to other stock should be carried along until the This note Hanks sales of closed. reducing it as when bank made. Then. in 1891, withdraw. stock were Wells decided to Hanks stock. George and R. other directors of the This bank acdecided to take $10,125 up his note in the needed Chicounted for the Later the bank negocago money bank and the $28,000 note was Cartiated. At the beginning Hanks' of indebtedness 1893, Lawyer to $20.- the property bank ter claimed. individually did not exceed worth $120.000. 000. while Then he there had came over session the of country events. most unexpected of long standing, in one with common ample e Houses involved Merchants bank, assets, destructive became ruin. became The involved difficulties and of Great Falls, which beset bank. in the country. general Depositors of sity the withthe through fear or July 1893. the either their deposits. In condition human a con drew Merchants' had foresight reached could dition not have bethe that anticipated control It of was Hanks. transact Mr sactions Carter yond then reviewed with the all bank the and held that and Hanks were had perfectly the legitimat credit of the but institution, of meant, they not to harm to assist it in the course Lobenbusiness Downing and Valentine witnesses for the heimer C. P were the first examined mainly near defense the They value were of considered Hanks' ranch worth acre as to Falls. One knew of Hanks refor Great the other $25,000 on it. fusing $150am to give an testified option to good Hanks repBoth utation witnesses for integrity being now called to the stand. it had The defendant At this point was the prosecution to stand indictment announ ced that counts of the and the charging on the false entries, and harging not to abstraction. four charging conviction on the nine said if that he would ask for conv Col. Sanders ask that the Judge was the instructed case to acquit. the and motion Knowles jury be said Col. he Sanders would took an exHe ception. then began his testimony. in Craw ford Hanks with his birth the story O., in 1860, and time gave he settled Falls went county of his life down in to 1885. the and started into the the in Great He r wards business and Tribune. esta and Insurance granized the Cas- of bank. real in the spring He of 1890 owned Later one-elghth he helped cade the stock the of that Merchants bank. was bank subscribed All the stock organize of the to the Merchants opening of tion the came bank. a to When prior the time for subscribers organiza did not re- in spond. the of stock was not number and of one large block taken. Cashier of it part particular his note to carry to carry the Wells put in put in his note was that as and Hanks underst erstanding disposed of the rest. The stock was taken from fast as the should be then traced to amount of received the notes. reduced Hanks until it got by either his note $2,500. it was when it was replaced dow the Benson note Hanks said his 160 prop- acre half On Jan 1891. sisted of his interest erty holdings near Great coal Falls land a Color at Nelthe 320 acres of townsite and Columbia to in in the Fris Falls townsi Great addition in the hart Highland park interest himself of inFalls the Fullerton insurance worth busing $5,000 worth sixth $2,500; nd F in the Liberty the Goodric mine drich Lumber 25,000 shares comthe have pany, worth in $1,250: Cornucopia some Mining realized comor which in which he 40 would cents share 18 and 20 and the third time he did sell for Baltimore, and Six Little Jodes inmarter the House worth $3,000; Maginnia Maiden the bond 25,000 on shares of the Prosp and silver share; 50,000 Helt company Mining a 10 share had of com the Mining Savage cents to worth Bear Paw, in the intere Altoget his up that 1, on 1893, March his in 1894 him that half the other half of the Hershtie de he said of the 150 acres Hershfield the MerH the note By doing NO bank of Helena relief from the Hel- All at Great get Falls bank

22. July 24, 1897 The Coeur D'alene Press Coeur D'alene, ID
Article from The Coeur D'alene Press, July 24, 1897

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Fifteen per cent of the school children of Flathead county will have their books furnished them, according to the vote just taken on the question of free text books. The ranges are in excellent condition and stock rolling fat in the famous Judith basin. The Cascade county commissioners have ordered suit brought against the bondsmen of ex-Treasurer McClelland, for county funds deposited with the defunct Merchants' National bank of Great Falls. There is said to be a shortage of over $30,000 in that connection. Since the planting of so many trees in Billings the increase in the number of singing birds of all kinds is remarkable. Now the lawns and shrubbery are full of the creatures, and the citizens are treated to one of nature's concerts every morning. The growth of the grain in the past three weeks has been wonderful. Fields where two or three weeks ago there seemed to be hardly a blade of grain, are now covered with tall, thrifty oats. In the cleared lands below Frenchtown, in the vicinity of Hudson and down as far as Nine Mile, the grain is splendid and the ranchmen are happy, according to reports received at Missoula. The Ashley Lake Irrigating Company is at work on what will be the largest irrigation enterprise in Flathead county so far. The ditch will be about nine miles in length and will cover some 6000 acres of land northwest of town. It is taken from Ashley creek near the site of old Flathead City, and runs around the foothills to the northwest. As judged by this year's assessment, Teton county is more prosperous now than last year. The assessment as returned by the county assessor to the seate board of equalization shows an increase over that of last year of $144,396. The total assessment as returned is $1,749,726, of which $1,053,444 is taxed against personal property and $696,282 against real estate. The assessment book of Yellowstone county has just been completed. It shows a gain over last year of $260,639. The total personal property returned, including money, is $1,575,753; real estate and improvements, $1,812,477; total, $3,388,230. To this total will be added the amount assessed to the several railways running through the county by the state board of assessment. This amount is not known at present, but last year it was as follows: Rocky Fork, $5500; Big Horn Southern (Burlington), $188,360; Northern Pacific, $286,902.