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Bank Failures. FRANKLIN, Ohio, Feb. 5.-The First National Bank has suspended. Capital, $100,000; surplus, $20,000; undivided profits, $30,000; deposits, $135,000; loans and discounts, $195,000. GREAT FALLS, Montana, Feb. 5.The Northwestern National Bank of Great Falls was placed in the hands of a receiver this morning.
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BANK FAILURE IN MONTANA. THE NORTHWESTERN NATIONAL GOES TO THE WALL. Directors Charge That It is Due to a Defalcation on the Part of the Cashier. GREAT FALLS (Mont.), Feb. 5.-The Northwestern Bank, one of the oldest institutions in the State, posted a notice announcing its suspension this morning. The Board of Directors and officers charge that the trouble is due to a defalcation on the 'part of the cashier, Benton D. Hatcher, of $180,000. The Comptroller of the Currency has wired Louis C. Phelps to take temporary charge of the bank, pending the arrival of the Examiner. The assets of the institution are given out by the directors as $750,000; liabilities of about equal amount. Cashier Hatcher is lying prostrated at his home here. All day long he refused to say anything for publication. The charges made by the Board of Directors are of a sensational character. It is believed, however, that in the wrecking of the bank more than Cashier Hatcher are implicated. On December 12th the Conrad Brothers, who organized the bank in the early eighties, offered their stock, amounting to $180,000, for sale, as they were retiring from active business. The entire holding was purchased by Cashier Hatcher, who informed the directors of the bank that he had friends in Boston who wanted to purchase the stock. Mr. Hatcher went East in December, and on his return informed the directors that he had sold the stock to his friends. The correspondent of the Northwestern in the East is the Globe National Bank of Boston. Cashier Hatcher, it is alleged, being unable to dispose of the stock as he had agreed to do, drew from the Globe National Bank the amount of the purchase of the stock, $180,000. This was over a month ago, and no suspicion of where the money came from was entertained until just before a mortgage for reorganization was received January 12th. An investigatin was put on foot, but no knowledge of it was published by the officers or directors here until the arrival of President James A. Coram of Boston last night. He at once called a meeting of the directors, and for the first time it was known that the Globe National Bank did not have on deposit the amount reported by the Northwestern books here, $180,000. The directors decided to suspend, and this morning wired the Comptroller to that effect. Cashier Hatcher charges that he drew the money from the Globe National at the direction of President Coram, who had. with other friends, agreed to take up the stock sold by the Conrads and reimburse the draft from the Globe National. He also says that President Coram called at his home this morning and assured him that he had perfect confidence in his honesty.
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TWO BANKS IN TROUBLE. National Concerns in Ohio and Montana Close Their Doors. Washington, Feb. -The comptroller of the currency has received a telegram announcing the suspension of the First National bank of Franklin, O. At the date of its last report the bank owed depositors $75,000, had a surplus of $10,000 and assets, including bonds, of $158,000. Its capital is $50,000. The comptroller also received a telegram from two directors of the North. western National bank of Great Falls. Mont., stating that because of a certainaction of the cashier they had taken possession, and asking instructions. The comptroller directed a receiver in the vicinity to take charge temporarily until the national bank examiner could reach there. Great Falls, Mont., Feb. 5.-The Great Falls, Mont., Feb. 6.-The Northwestern National bank of this city falled to open GOODS r ricay. failure is said to be due to a defalcation.
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CONDENSED NEWS Gathered From All Parts of the Countr by Telegraph. The education bill passed its firs reading in the house of common Thursday. Prof. H. H. Harris, of Louisvill Theological seminary, died in Lynel burg, Va., Thursday afternoon. The Northwestern national bank o Great Falls, Mont., was placed in th hands of a receiver Friday morning. The extensive cotton mill of Dolfu & Mantz at Mulhausen, Alsace, wa burned Friday. The loss was $200.00 Floods are prevailing in the valley of the Thames and Oufe rivers, wher large tracts of land are submerged Great damage has been done to prop erty. Assignee George C. Dixon says, wit respect to the failure of E. C. Hodge & Co., Boston: "It has been ascer tained that the liabilities of the fir are between $225,000 and $250,000, ger erally secured by collateral." The plan formulated by the Englis government for increasing the strengt and efficiency of the navy conten plates the construction of five battle ships and three first-class cruisers an the addition of 10,000 more men. The senate Thursday confirme John F. Valls, of Louisiana, to be con sul of the United States at Matamoras Mex. C. E. Dingle was confirmed t be postmaster at Woodland, Cal., als J. J. Conway, at Harper's Ferry, 11 Va. Dan Stuart, the promoter of the Co bett-Fitzsimmons fight, left Denisor Tex., for Nevada Friday to arrange fo the coming fight. Before leaving Str art said: "The battle will either tak place at Reno or Carson City. Ther will be no hitch in the programme. Secretary of War Lamont, Thurs day evening entertained at dinner brilliant assemblage of guests, num bering among them the vice president Speaker Reed, Senators Cameror Lodge, Hale, Chandler, Aldrich, Gray Murphy, Smith and Brice; Gen. Mile and representative Benton MeMillor A joint committee of the Illinoi legislature was appointed to make an rangements for the trip of the mem bers to Washington toattend the inau guration of Maj. McKinley. The leg islature will go in a body, and Gov Tanner, accompanied by his newly ap pointed staff, will also represent th state at the ceremony. The will of the late Capt. Thomas T Turner, filed for probate Thursday a Clayton, St. Louis county, Mo., dis tributes an estate valued at $15,000,000 Of the nine heirs five live in Washing ton, three in St. Louisand one in Mon treal, Can. At the time of his deatl in New Orleans recently, Mr. Turne was the wealthiest citizen of St. Loui county. After three sessions devoted to th consideration of the petition of Henr A. Dupont, of Delaware, in his clair to a seat in the United States senate the senate committee on privilege and elections Friday morning refuse to re-open the case. Messrs. Mitchel and Pritchard were absent, but ever other member of the committee excep Mr. Chandler voted against again tak ing up the case. Secretary Herbert Thursday award
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TWO BANKS CLOSE THEIR DOORS. SHADY TRANSACTIONS LEAD TO THE DOWNFALL OF A MONTANA INSTITUTION. Great Falls, Mont., Feb. 5.-The Northwestern National Bank of Great Falls was placed in the hands of a receiver this morning. It is said that the directors have discovered a defalcation of about $27,000. The cashier is R. D. Hatcher. The Northwestern had a capital of $250,000 and an advertised surplus of $50,000. Thomas Couch, G. M. Hyams, Frank Kleptko and other prominent stockholders in the Boston and Montana and Butte and Boston Mining companies are members of the Board of Directors of the\bank, and W. G. Conrad, a Great Falls capitalist, is president of the institution. Investigation shows that the trouble arose out of a recent sale of stock, whereby the Conrad brothers disposed of holdings to R. D. Hatcher, who said he represented Eastern parties. The purchase money, amounting to some $180,000. was paid to the Conrads and was supposed to come from Hatcher's clients. Nothing further was known of the matter until it was discovered that $177,000, which the Northwestern National Bank had in the Globe National Bank of Boston, had disappeared. The transfer of the money from the Globe National to a New-York bank was known to the directors, but Hatcher had said that officials of that bank were among the purchasers and it was supposed that the money transferred came from them. Last night President Conrad arrived from Boston and related the condition of affairs as far as the Globe National was concerned. The Northwestern books show a credit there of $177,000, while the Globe National books show a small overdraft. At a meeting of the directors held last night it was decided to close the bank pending an investigation. The last statement of the bank shows deposits $597,394. assets about $750,000. The bank officials say there is no doubt that depositors will be paid in full. There is no trouble in other banks so far. The New-York correspondent of the Northwestern National Bank, of Great Falls, Mont., was the National Park Bank, with which the Great Falls Bank had a moderate credit balance. Washington, Feb. 5.-The directors of the Northwestern National Bank of Great Falls, Mont., took charge of that Institution this morning, superseding the executive officers. They telegraphed the Controller of the Currency that the cashier of the bank had bought securities in violation of instructions, and their action had been based on that fact. In response to a request for instructions the Controller sent a bank examiner to take charge of the bank. Franklin, Ohio, Feb. 5.-The First National Bank has suspended. The capital is $100,000; surplus, $20,000; undivided profits, $30,000; deposits, $135,000; loans and discounts, $195,000.
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WRECKED BY A CASHIER NORTHWESTERN NATIONAL BANK OF GREAT FALLS, MONT., CLOSED. Defalcation of $180,000 Charged to Benton D. Hatcher-Other Business Embarrassments. GREAT FALLS, Mont., Feb. 5.-The Northwestern National Bank, one of the oldest institutions in the State, posted a notice announcing its suspension this morning. The board of directors and officers charge that the trouble is due to a defalcation on the part of Cashier Benton D. Hatcher of $180,000. The controller of the currency has wired Louis G. Phelps to take temporary charge of the bank pending the arrival of the examiner. The assets of the institution are given out by the directors as $750,000; liabilities of about an equal amount. Cashier Hatcher is lying prostrated at his home here. All day long he refused to say anything for publication. The charges made by the board of directors are of a sensational character. It is believed here, however, that in the wrecking of the bank more than Cashier Hatcher are implicated. On Dec. 12 last the Conrad Brothers, who were the organizers of the bank in the early 80's, offered their stock, amounting to $180,000, for sale, as they were retiring from all active business. The entire holding was purchased by Cashier Hatcher, who informed the directors of the bank that he had friends in Boston who wanted to purchase the stock. Mr. Hatcher went East in December, and on his return informed the directors that he had sold the stock to his friends. The correspondent of the Northwestern in the East is the Globe National Bank of Boston. Cashier Hatcher, it is alleged, being unable to dispose of the stock as he had agreed to do, drew from the Globe National the amount of the purchase price of the stock, $180,000. This was over a month ago, and no suspicion of where the money came from was entertained until just before a mortgage for reorganization was received, on July 12. An investigation was put on foot, but no knowledge of it was possessed by the officers or directors here until the arrival of President James A. Coram from Boston last night. He at once called a meeting of the directors and for the first time it was shown that the Globe National Bank did not have on deposit the amount reported by the Northwestern books here$180,000. The directors decided to suspend and this morning wired the controller to that effect. Cashier Hatcher alleges that he drew the money from the Globe National Bank at the direction of President Coram, who had, with other friends, agreed to take up the stock sold by the Conrads and reimburse the draft from the Globe National Bank. He also says that President Coram called at his house this morning and assured him that he had perfect confidence in his honesty. The last statement given out, Dec. 17 last, showed total assets of $1,018,820; liabilities, deposits, $598,166, and other liabilities, $419,654. One of the sensational features of the trouble is told by Vice President Klepeetko. who says that on Saturday last Mr. Hatcher sent a message to the Globe National Bank asking that institution to advise the bank here that it had more money on deposit than it really had. On receipt of this telegram Mr. Coram started at once for Great Falls. The Bank is owned by the Boston and Montana and the Butte and
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Bank Wrecking In Montana. GREAT FALLS, Mon., Feb. 6. - The Northwestern National bank, one of the oldest institutions in the state, has posted B notice announcing its suspension. The board of directors and officers charge that the trouble is due to a defalcation on the part of Cashier Benton D. Hatcher of $180,000. The comptroller of the currency has wired Louis G. Phelds to take temporary charge of the bank pending the arrival of the examiner. The assets of the institution are given out by the directors as $750,000, with liabilities of an equal amount. Hatcher is lying prostrated at his home here. He refuses to say anything for publication. It is believed here, however, that in the wrecking of the bank others than Cashier Hatcher are implitated.
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WEST AND SOUTH. The Missouri house of representatives passed a bill prohibiting the playing of baseball on Sunday in the state. Harry Woods, a boy 13 years of age, was declared insane at Vincennes, Ind., as the result of the use of excessive cigarettes. At Richmond, Va., an ice gorge broke and swept away the wharves, taking vessels from their moorings and doing great damage. The doors of the First national bank of Griswold, Ta., were closed with liabilities of $80,000. At their home in Rockford. III., the three daughters of William Bate were married at the same time. 1 ne couples were Miss Laura Bate to George Chapman, Miss Blanche Date to Rev. G. W. B. Marsh, and Miss Anna Bate to Clyde Safford. In Baltimore William H. Crawford & Co., wholesale dealers in spices, made an assignment with liabilities of $150,000. By order of the president Col. Robert E. Crofton, Fifteenth infantry, has been arbitrarily relieved. In session at Orlando, Fla., the national good roads congress effected a permanent organization, and Gen. Roy Stone, of Washington, was elected president. There are over 50 families at the Belmont coal mines near Bellaire, O., suffering for the necessities of life and some are almost actually starving. John Brohnamann and his wife and two sons, living near North Branch, Minn., were suffocated by carbon dioxide, due to a fire in a closed root house. At her home in Fairbury, Ill., Mrs. Mary Wray celebrated her 105th birthday anniversary. Her eyesight is good and she is able to assist in doing the housework. In Oklahoma the Sae and Fox agency was raided by outlaws and three citizens were killed and Agent Thomas badly wounded. A mob banged Robert Morton (colored) near Rockfield. Ky., for writing an insulting note to Miss Tommie Johnson, a popular white woman. The Six Companies, the most powerful and richest Chinese organization in America, went out of existence in San Francisco with the Chinese New Year. At Franklin, O., the First national bank suspended with liabilities of $75,000. At Great Falls, Mont., the Northwestern national bank closed its doors with liabilities of $700,000; assets, $750,000. John Thomas and Joe Richie, stonemasons, were killed in a premature dynamite explosion at Frankfort, Ky. In a drunken rage Anderson Parker, a farmer of Rock Castle county, Ky., struck his wife and fractured her skull with & club. He then shot his son through the wrist, when the boy secured a revolver and killed his father. In the towns east of Shreveport, La., 20,000 people are said to be in astarving condition. The famous baseball pitcher, Charles Badbourne, so long identified with the National League clubs of Providence and Boston, died in Bloomington, Ill., aged 43 years. At Bengles and Chase's stations in Maryland and also at Baltimore a severe earthquake shock was felt.
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GENERAL NEWS. The death of Gen. Jo Shelby, of Adrian, Mo., is expected. The steamer Natchez was seriously injured below Vicksburg. Senator George, of Mississippi, is a little improved from his dangerous illness. Thirty fine horses were killed in a collision on the Illinois Central railroad near Tolena, III. Joseph L. Rawlins defeated Moses Thatcher for U. S. Senator from Utah. A contest is probable. The British-Venezuelan arbitration treaty has been duly signed and sent to Venezuela for ratification. Up to Feb. 4th there had been 3,841 deaths out of 5,098 cases of the bubonic plague, at Bombay, India. The Birmingham (Ala.) Rolling Mills will be converted into the largest steel mill south of Pittsburgh. The Missouri Legislature will consider a bill to prohibit railroad employes from flirting with female passengers. Spain has promulgated a Cuban Reform decree to go into operation as soon as the rebellion is sufficiently confined. M. B. Leonard, telegraph superintendent of the C. & 0. R. R., died of a cancerons growth in the throat, at Richmond, Va. Cyrus E. Breder, Cashier of the First National of Bethlehem, Pa., stole $12,000 of the bank's money and is sojourning in Canada. In the Tennessee Legislature the House killed the Senate bill reducing salaries of all the State officials except that of the Governor. The new tariff bill will restore the McKinley rates on lumber except that white pine is restored to the 1883 rate, which is double the McKinley rate. The ice-gorges in the Ohio river are playing hob with the steamboats and other river craft. The Buckeye State was sent aground below Louisville. The Southern Mutual Building and Loan Association, of Atlanta, Ga., liabilities of $1,000,000, is al. leged to be insolvent and is in the hands of a receiver. It is reported that McKinley is compelled to reconstruct his Cabinet and leave Sherman and Alger out, owing to the hostility of the Foraker faction in Ohio. The Indiana Supreme Court says the case of Brown and Sexton, the Louisville officers who killed John Rippey at Salem, Ind., by mistake and in self defense, is not bailable. Cuban sharpshooters are making a special target of Gen. Weyler. His horse was shot under him near Santa Clara and he has several times narrowly escaped bullets. Theo. A. Havemeyer testified before the Lexow Committee in New York that he wouldn't go into any business unless he could make 15 to 20 per cent. out of it. He is Vice President of the "Sugar Trust." Maj. Alfred A. Hartridge, of Savannah, Ga., belonging to one of best families, raised two stock certificates of the Southwestern R. R. and went to Europe. A reward of $200 is offered for his capture. Addison Cammack, born in Kentucky about 70 years ago, famous as one of the most daring operators on the New York Stock Exchange, has retired, with a fortune of millions. He offers his Exchange seat for sale. The Northwestern National Bank of Great Falls, Montana, has suspended. The assets and liabilities are each about $750,000. The officers say the defalcation of Cashier Benton D. Hatcher for $180,000 caused the trouble. The President, on recommendation of the Secretary of the Interior for reasons of economy, has signed the order discontinuing ten out of the eighteen pension agen-
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NEWSY CONDENSATIONS. The wife of John Cort threw her children into the Yellowstone river, near Big Timber. Mont., and then jumped in after them. All were drowned. The Northwestern National bank, of Great Falls. Mont., one of the oldest institutions in the state. has suspended, owing to a defalcation on the part of Cashier Benton D. Hatcher of $180,000. Senator Merriam, of VanBuren, does not think the Pingree bills for a 2 cent passenger fare on railroads, and for local taxation of railroad property, will pass, but has great hopes for his bill to raise the specific tax on railroad property throughout the state. A Canton special says Judge Goff. of Maryland, who was slated for a position in McKinley's cabinet. has declined the honor, owing to his wife's health. The question of who shall be the southern representative in the cabinet is now opened again with a dozen prominent candidates. The United States government is rapidly accumulating a collection of useless war vessels, the latest acquisition being the new monitor Puritan which proved unseaworthy in her dock trial. The battleship Indiana has suddenly returned to Hampton roads and it is reported that she cannot be handled in a blow. The Detroit pension office has been discontinued by order of President Cleveland, together with nine others in various parts of the country. Secretary of the Interior Francis recommended this move on the ground that it would reduce the cost of disbursing pensions $150,000 per year. Payments formerly made from Detroit will be made from Indianapolis. Great Britain and France are at odds over the Egyptian campaign, the latter having refused to allow the funds under contro! of the mixed European protectorate to be used to defray the expenses of the present expedition against the dervishes up the Nile. Great Britain has advanced the money, but has the support of Germany, Austria and Italy, and France may be forced to back down. Russia says she has no interests involved.
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Banks and Business Failures. The following banks and business firms have failed since the last issue of this paper: The Northwestern National bank of Great Falls, Montana. It was one of the oldest institutions in the state. The shortage of the cashier is $180,000. The -confiding depositors have the bag to hold. The cashier of the First National bank of Bethlehem, Pa., absconded with $150,000 and left the bank with nothing to do but close its doors and the depositors to bemoan the confidence they had given it. The First National of Franklin, Ind., has also closed its doors. The depositors are going through the same experience. The Duck River Phosphate Co., of Tennessee, assigned Saturday. The Southern Mutual Building and Loan Association of Atlanta was placed in the hands of a receiver Saturday. Thomas Doherty, tea merchant of Montreal, Canada, assigned. Brown and Pillars, of Orlando, grocers, made an assignment Monday. The State Savings bank, of Atlanta, of which Captain H. C. Wright, of this city, was recently elected president, is in the hands of a receiver.
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John Lee, a Philadelphia, Pa., yarn manufacturer, has made an assignment. Mr. Lee says the failure was caused by the general business depression. At Selma, Ala., Maas & Schwartz, cotton commission merchants, and S. Maas & Co., kindred firms, doing a wholesale grocery business, have made an assignment. Liabilities, $300,000. The Consumers' Ice Company, of Cincinnati, has assigned. The First National Bank of Griswold, Iowa, has failed. William H. Crawford & Co., Baltimore, Md., wholesale dealers in spices, have made an assignment. Sheriff Austin has taken possession of the plant of the Syracuse (N. Y.) Specialty Company, on executions issued under judgments amounting to $43,726.28. The company manufactured the Frontenac bicycle. There has been considerable dissatisfaction caused among street-car employes in Toledo, O., on account of a reduction of 10 per cent. in wages, which went into effect February 1. There have been rumors of a strike, but the men have adopted no policy yet. The Metropolitan Iron and Land Company, operating the Norrie, East Norrie and Pabst mines, in Michigan, and employing at present about 700 men, has cut the wages of all its employes 10 per cent. This cut affects every man connected with the mine. At Trenton, N.J., the American Sugar Refining Company has organized the American Coffee Refining Company, with a capital stock of $1,000,000. This is in continuation of the fight with the Arbuckle Coffee Company. The First National Bank of Bethlehem, Pa., is in trouble; cashier a defaulter for $12,500; Northwestern National Bank of Great Falls, Montana, is closed; and the First National Bank of Franklin, Ohio, is closed. The Governor of Wisconsin has decided to foreclose the mortgages held by the State against the Wisconsin Agricultural Society's grounds near Milwaukee. The society has paid no interest at all on the mortgages, which aggregate $168,448.03, and with the unpaid interest amount to over $205,000. A receiver has been appointed for the Lincoln, III., Electric Street Railway Company. The Southern Mutual Building and Loan Association, of Atlanta. Georgia, has been placed in the hands of a receiver. The association has, it is ssid, $1,250,000 loaned on real estate, Three hundred hands employed at Reiling, David & Schoen's silk mill, in West Hoboken, New Jersey, struck on Saturday because the firm refused to restore 20 per cent. taken from their wages four months ago.
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NO BANK STOCK SOLD Depositors of the Defunct Northwestern National Hold a Meeting. CASHIER HATCHER SPEAKS He Offers Several Suggestions, but Doesn't Go Into Details as Far as the Crowd Would Like for Him to. Special Dispatch to the Standard. Great Falls. Feb. 15.-Several hundred depositors of the suspended Northwestern National bank met to-night in Judge Burleigh's office, subject to the call of somebody, and S. B. Robbins was elected chairman and George Raban secretary. Cashier Hatcher of the bank was sent for, and for a time a sensation which did not materialize was looked for anxiously by the crowd. Cashier Hatcher, being called upon, spoke guardedly of the situation and did not go into the details that were evidently asked by many. He said: "I suppose you wish to know the resources of the bank, but I must say to you first that the bank is now in the hands of the comptroller and it would not be right or proper for me to go into details before a statement is made by his authority. So far as I can I will answer you without usurping any of his rights. I having been in the bank for years, do not doubt but that it will pay its depositors in full. A great deal will depend upon the receiver who is placed in charge. The bank has three classes to whom loans have principally been made-business men. sheepmen and cattlemen. The largest single borrowers are sheepmen who will be unable to pay until the July wool sales. I have talked with bankers in this city and they are willing to take up a large number of these loans which would add largely to the bank's cash. As to reorganization, you must understand that the comptroller is first for the depositors and the stockholders, and he would have to be thoroughly satisfied before any reorganization could occur. You will have to see him, and no one else, and he is the one who will take any steps, not you. Until he speaks you can do nothing. The bank transacted a large business and it is a pity it went down. but its resources will now largely depend upon the receiver appointed. My idea would be to appoint a committee of different elements of depositors and have them find out the feeling of the bank's customers. and after the comptroller's statement is out and a conference with him is held, report at a meeting at some future time. You must remember that a large number is interested. "About 1,000 people had deposits subjeet to check and there are about 2,000 certificates of deposits. To make a success the depositors must be almost unanimous, which, you see. is a large undertaking. The bank has now about $100,000 cash, about $12,000 having been collected since the suspension, and there is about $100,000 in paper which might be realized on in 30 days, as other banks would take more of it up. So the bank would have $200,000 to start on. Could you reorganize on the certificate plan, I believe it would be a good thing. "I am not here to give you advice. my connection with the bank being such that I don't feel like standing as an adviser. I would strongly urge you to work with Examiner Lazear, who I know to be competent and able to disentangle these matters, and he is the man to whom you should talk. Myself, my wife and her father have money in the bank as well as other relatives, probably ten or twelve thousand dollars. I assure them they will not lose a cent.' Should not some one be found to father about $180,000 of the bank's stock?" asked some one. "As to that," continued Mr. Hatcher, "I don't know. I am not a lawyer. So far as the stock is concerned that is a delicate matter for me to speak on at present. I can only state that I acted in good faith in purchasing it. Of the stock 1,460 shares are held by the bank. 1.040 shares by outside parties: all the stockholders are wealthy men and should it come to that they will be called upon to put un an assessment of a dollar for every dollar they hold. "Why," asked ex-Alderman Young. "should we be called upon now to take the bank stock when it is practically worthless and render ourselves liable beside. If the matter could not have been adjusted before by the stockholders of the bank. am in favor of letting them shoulder the liability and making them come forward and pay every dollar due the depositors." Mr. Young's speech was greeted with loud applause and the majority of those present evidently were not seeking in vestment in bank stock. After vainly endeavoring to find out who wrote the notice calling a meeting. a committee of five was appointed by the chair and the audience combined to see what could be done. The committee finally selected were George Raban. chairman: Ed Young. Joe Jellicard, Charles Wegper and Frank Scotten. The meeting adjourned subject to the call of the committee. VALUEL ree
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Benton D. Hatcher, cashier of the suspended Northwestern National bank of Great Falls, was arrested last week charged with misapplying the funds and credits of the bank in a sum amounting to $90,000. He was released on $5,000 bonds. Slow progress is being made in straightening out theaffairs of the bank and depositors are becoming anxious.
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WILL PAY DEPOSITORS IN FULL. Great Falls Bank Trouble Satisfactorily Arranged. HELENA, Mont., March %-A. B. Brown, special representative of Comptroller Eckels, who came from Washington to endeavor to adjust the affairs of the suspended Northwestern National bank at Great Falls stated that the bank would reopen or liquidate without the services of a receiver. He held a meeting here tonight with the Conrad brothers, who sold out their holdings in the bank shortly before It closed, and an agreement was reached by which the Conrads will take back their stock, amounting to over $100,000, thereby insuring the payment of every depositor in full.
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Published Every Thursday. A Republican Newspaper devoted to the interests of Dupuyerand Surrounding Communities. Entered at the post office at Dupuyer, Mont., sesond-class mail matter. C. E. Trescott, Publisher. A Washington special to the Helena Herald states that the resumption by the Merchar ts National bank has such official encours agement and sanction as promises to speedly re-open its doors and restore it, to its former prestige and u-efulness to the people of Moutana. President Hershfield is in New York perfecting arrangements to carry out resumption plans at an early date. W. G. Cenrad and Captain Couch are in Washington in connection with the affairs of the suspended Northwestern National bank of Great Falls. The institution will go in to liquidation under the auspices of the old stockholders, who will pay the depositors in full. The Courad Bros. will continue in business in Great Falls as private bankers.
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3 IN RECEIVER'S HANDS. Northwestern Bank Will Not Liquidate as First Announced. A dispatch from Washington announces that Comptroller Eckels has appointed James T. Stanford, of Great Falls, receiver for the suspended North western National bank of that city. This is a surprise to many as it was supposed the bank would liquidate without the appointment of a receiver. It is stated that the comptroller took this action against the protest of the Boston & Montana people, and in a measure because of their refusal to co-operate. He is entirely satisfied with Mr. Stanford and says he is convinced everything will come out right concerning the bank. Sometime ago an agreement was reached by which Conrad Brothers, Capt. Couch and the Boston & Montana company were jointly to furnish enough to pay off all depositors in full immediately. The Conrad Brothers placed the comptroller in possession of the $90,000 paid them by Cashier Hatcher for their stock and the Conrads with Couch stood ready to furnish two-thirds of the money necessary. But the Boston & Montana people failed to perform their part of the agreement and the appointment of a receiver became necessary. The objection offered by the Boston & Montana company to carry out the agreement was that they hold but 500 shares and that the other stockholders would elect Mr. Stanford president of the bank if re-opened. They also protested against Capt. Couch. The comptroller reminded the Boston Montana people that last December, when he changed the receiver of the Helena First National bank they had indorsed Stanford for the new receiver.
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Germany is trying to persuade France and through her Russia, to support Germany in resisting Great Britain's imperious attitude toward the Boers in the Transvaal, in exchange for Germany's support of France in the Egyptian question. Staff correspondents of German and other continental papers with the Turkish army in the field write enthusiastically of the bravery shown at Larissa by Grumbkoff Pasha, who reorganized the sultan's artillery, and is now a member of the Turkish general staff. General. Rev. John C. Sharp of Pittsburg, elected to the presidency of Coe college, Cedar Rapids, Iowa, declines the position. The budget committee of the reichstag has authorized the non-recurring expenditure of 40,000,000 marks to create a reserve of field artillery. The Boone Valley Medical association, composed of the physicians of Wright and Humboldt counties, organized at Eagle Grove, Iowa. The Dawes commission has arranged with the Choctaw and Chickisaw Indians for the allotment of lands in severalty. Col. Wahis, governor general of the Congo Free State, reports a column of native soldiers at Ndirfiwelle mutined in February and killed five white officers. The convention of the International Association of Machinists, in session at Kansas City, has adopted a rule providing for the initiative and referendum. It is reported at Philadelphia that the anthracite coal companies are arranging to advance prices 15 to 25 cents per ton on various sizes about June 1. A man named Lawrence, a confidential servant of Mrs. Arthur H. Blair of Chicago has disappeared, and with him diamonds to the value of $8,000 and $2,500 in money. A private cable dispatch from Bonn, Germany, brings news of the birth of a son to Frau von Rottenburg, wife of Dr. Franz Johannes von Rottenburg, and daughter of the late William Walter Phelps. James T. Stanford is permanent receiver of the Northwestern National bank at Great Falls, Mont. There is $250,000 in cash on hand and it is likely a dividend of 50 per cent will soon be paid. The second annual convention of the Episcopal diocese of Marquette has opened at Marquette. Mich., with a session of the woman's auxiliary. The convention sermon was preached by Rev. J. P. Kaye of Ironwood. As the result of the passage of the manufacture bill in Iowa the Blatz Brewing company will erect a large brewery at Cedar Rapids covering one entire block. The brewery will have a capacity of 300 barrele a day. American Horse and Red Cloud and other Sioux from the Pine Ridge agency in South Dakota, have had an interview with Secretary Bliss, in which they paid their respects and aired their grievancies. Exhibition of kinetoscope pictures of the Corbett-Fitzsimmons fight is to be prohibited in Pueblo, Colo. On petition of the W. C. T. U. of that city the aldermen instructed the city attorney to draw up such an ordinance. There is a movement on foot at Melbourn, Victoria. to send 20,000 sheep and 5,000 bullocks to England in connection with the dinner which the Princess of Wales is promoting for the poor of the slums of London. Dwight W. Andrews, ex-chief grain inspector of Chicago, whose alleged criminal manipulation of state pay rolls has been under investigation. cannot be found. His official bond for $50,000 is regarded as doubtful security. The Bakers' International union has resolved to make a stand for an eighthour day. Resolutions were offered at the session at Cleveland to make the demand uniform throughout the country. and met with enthusiastic approval. The trial of Harris VS. the M. W. A. to recover $20,000 for injuries received during an initiation into a local lodge has begun in the federal court at Dubuque. Iowa, Judge Woolson presiding. By order of Judge Shiras parts of the ritual were submitted in court. By direction of the president the fortification of Lime Point, on the north side of the entrance of the Golden Gate, San Francisco harbor, will hereafter be known and designated as Fort Baker. in honor of the late Col. Edward Dickinson Baker, United States volunteers. Reports that the Northern Michigan Mine Workers' union is moribund are vehemently denied by the organization. Should a crisis in mining affairs, affecting the Interests of the union, present itself, they assert it will be found firm. strong and energetic throughout the entire iron district. A test case is to be made at Webster City, Iowa, of the practice of the 1111nois Central railroad compelling passengers to show their tickets before entering the train. The suit was brought by Ald. Bunker, who was ejected from a train because he did not show his ticket to a person other than the conductor.
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# The Cooper-Martin Case. In the district court last Friday Brady & Freeman, attorneys for Anne Lyon Martin, administratrix of the estate of Stephen C. Martin, deceased, in her suit against O. G. Cooper, filed an application for an order enjoining the sale of a large amount of property belonging to the Cooper-Martin Sheep company. Judge Leslie issued a temporary restraining order and ordered the Northwestern National bank of Great Falls, James T. Stanford, receiver of said bank, and Kyle Price to appear Aug. 18 at 10 a.m. to show cause why the restraining order should not be made permanent. The property involved is several thousand acres of land in Teton county, 17,512 head of sheep and their increase for 1897, 101 head of horses, cattle, farming implements, etc. Several months ago the Northwestern National obtained judgment against the Cooper-Martin Sheep company for $26,000. Cooper is a stockholder of the company. An execution was issued against the company's property and the property was sold to Kyle Price, supposed to represent the bank, for $9,105. Later Mrs. Martin instituted suit against Cooper for $14,000, and obtained judgment. It is alleged that Price did not take absolute possession of the property, but agreed to hold it until the bank
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COMPTROLLER ARRIVES Promises a Ten Per Cent Dividend at Least for the First National. Special Dispatch 13 the Standard. Helena. Aug. 11-Comptroller of the Treasury James H. Eckets, wife and daughter arrived over the Great Northern this morning on their way to the National park. from where they will proceed to Butte and Anaconda and then on to Salt Lake City and Glenwood Cafa Comptroller Eckets trip has no business significance he said 10-day although he is in a measure combining business with the pleasure of an outing He received many callers at the Helena to-day and spent a good share of the afternoon in consultation with Kugene T. Wilson receiver of the Merchants National bank J. Sam Brown receiver of the First National bank and James T. Stanford receiver of the Northwestern National bank of Great Falls Among his catters were a number of First National bank depositors, who took occasion to inquire as to the prospects for u dividend The bank suspended Sept. 1 100% and store then DO sign of a dividend hax been seen by the multitude of depositors Mr. Eckets replied that a to ter cent. dividend at least would be annotanced some time before his report to congress which will be closed Oct. IL He referred to the = per cent. dividend that has just been announced for the use product Merchants' National bank and the experient showing made by the NorthWHITERN National For some time the rumor has been current that J. Sam Brown was to be remayced 8000 all receiver of the First No. tional bank but Mr. Eckels neatly dodged the question when asked it the report had any faculation Mr. Eckels and family will leave to-
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Security Company Sued. Helena, Mont., Special.-James T. Stanford, receiver of the Northwestern National Bank of Great Falls, commenced an action in the district court against the National Surety Company of Kansas City to recover $25,000, the amount of a bond furnished the bank through the defendant company by Benton D. Hatcher, former cashier, who recently pleaded guilty to a charge of misappropriation of funds of the bank, for which he is now serving a five-year term in the penitentiary. It is alleged that Hatcher embezzled more than the amount of the bond furnished by the defendant company.
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IN THE DISTRICT COURT. C. D. and Catherine Wilt Given Fifteen Days to File an Answer. Great Falls, Feb. 24.-In the district court this afternoon the defendants in the action of James T. Stanford, receiver of the Northwestern bank, vs. C. D. and Catharine Wilt were given 15 days in which to answer the complaint of plaintiff. The suit was an action to recover on a note. In the case of the Sisters of Charity of Providence vs. A. E. Dickerman, county treasurer, the defendant was granted until March 20 in which to prepare and file a statement on his motion for a new trial. This was an injunction proceeding to restrain the county treasurer from selling the Columbus hospital property for the delinquent taxes of 1895. The plaintiff won and an injunction was made permanent. If the motion for a new trial is denied the case will probably be appealed by the county to the supreme court. The default of defendants was ordered in the following suits: The Montana Brewing company vs. Ole Ruikka, J. J. Paterson vs. F. E. Evans, Great Falls National bank vs. George Richards, and in the following cases in each of which the Bach-Cory, limited, is the plaintiff against J. W. Cornelius, Frank Boardman and wife, Cresop & Descombes.
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Two Characteristic Incidents in the Career of W. G. Conrad. ditorial in the Great Falls (From "Progressive Men of the State of Montana," by A. W. Bowen.) of May 31, 1908.) In addition to his cattle enterprises, oteworthy incident in the Mr. Conrad engaged in banking, tory of Mr. Conrad is not founding the First National Bank, of Fort Benton, of which he was presinown. In the early days dent during its existence. After some as made to commit the years of successful operation at Fort subsidy for a railread Benton this bank was removed to build into Montana. A Great Falls and the named changed It subsidy bonds to the to the Northwestern National bank, of which he and his brother were sole reillion and a half dollars, owners. In 1894 they sold the Boston bill exempting its propand Montana people one-fifth of this taxation for twenty-one stock and, at their request, R. 11. completion of the road, Hatcher was made cashier and acted fixed for such completion, as their representative. In December, 1896, Hatcher bought the balance of with good prospects the Conrad brother's stock for the Bosthe territorial legislature. ton and Montana people. Two months opposition to railroads later the bank was closed, and the was far from popular, people of Northern Montana well know what then happened. It takes over were ready to grant twenty years to grow men, and as to get a railroad. It was many more to try them to see if they are men. When the wires flashed the Mr. Conrad's far-sighted news to W. G. Convad, then at White dgment asserted itself In Post, Va., the Fumediate message that came back WESLTH want every deposof the people, and he led itor paid in full." in this telegram he aimst the grasping railroad also asked Janies T. Stanford to act as receiver. Mr. Conrad went to Washto mortgage the future of ington, had Stanford appointed, and territory, making the monot only the people of Montana, but feated the measures. When all the bankers of the United States, know how well and quickly the deposthat the proposed subitera got their money. When asked with interest would now why he did this, Mr. Conrad replied: about $13,900,000 and that "The people deposited their money in from taxation for twen account of my connection with this