10123. First National Bank (Livingston, MT)

View Charter #3006 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3006
Charter Number
3006
Start Date
August 25, 1884
Location
Livingston, Montana (45.662, -110.561)

Metadata

Model
gpt-5-mini
Short Digest
19b4d17b89b3b187

Response Measures

None

Receivership Details

Depositor recovery rate
95.0%
Date receivership started
1884-08-25
Date receivership terminated
1900-12-31
OCC cause of failure
Losses
Share of assets assessed as good
47.2%
Share of assets assessed as doubtful
21.5%
Share of assets assessed as worthless
31.3%

Description

Articles report the First National Bank of Livingston was insolvent, a receiver (C. A. Baker) was appointed by the Comptroller of the Currency (notice dated 1884-08-25), the cashier was later arrested for alleged embezzlement, and the receiver sold/advertised the bank real estate in 1885. No contemporaneous run is described; the bank suspended and was placed in receivership and its assets were offered for sale — consistent with suspension followed by permanent closure. Corrected minor OCR typos (e.g., 'Livingstone' -> Livingston) where obvious.

Events (7)
1. July 16, 1883 Chartered
Source
historical_nic
2. August 25, 1884 Receivership
Source
historical_nic
3. August 25, 1884 Receivership
Newspaper Excerpt
Notice is hereby given to all persons who may have claims against The First National Bank of Livingston, ... present to Charles A. Baker, Receiver, with the legal proof thereof, within three months from this date. (Office of Comptroller of the Currency, WASHINGTON, August 25, 1884.)
Source
newspapers
4. August 25, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Gross mismanagement and insolvency discovered; Comptroller directed operations curtailed and receiver appointed
Newspaper Excerpt
Notice is hereby given ... to present to Charles A. Baker, Receiver, within three months from this date
Source
newspapers
5. August 27, 1884 Other
Newspaper Excerpt
Mr. Pyle ... has been instructed by the comptroller of currency to do no business ... until a receiver is appointed to succeed him. The JOURNAL predicts that the receiver will be appointed in a very few days.
Source
newspapers
6. September 30, 1884 Other
Newspaper Excerpt
D. E. Fogarty, late cashier of the First National Bank, was arrested ... on complaint of C. A. Baker, Receiver of the bank, charging him with embezzlement of the bank's money.
Source
newspapers
7. January 2, 1885 Other
Newspaper Excerpt
By virtue of an order of the District Court ... dated the second day of January, A. D. 1885, bids will be received ... for the purchase of the real estate ... with the Bank Building standing on the same. CHARLES A. BAKER, Receiver of The First National Bank of Livingston, M.T.
Source
newspapers

Newspaper Articles (10)
1. August 27, 1884 Daily Yellowstone Journal Miles City, MT
Article from Daily Yellowstone Journal, August 27, 1884

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Article Text

Livingston's First National A well authenticated rumor is to the effect that Mr. Pyle who was recently appointed assistant cashier of the First National bank of Livingston, by direction of its stockholders, has been instructed by the comptroller of currency to do no business in the said First National, except to collect what be can of any indebtedness due the bank until a receiver is appointed to succeed him. The JOURNAL predicts that the receiver will be appointed in a very few days. An experience of gross mismanagement such as the stockholders of that bank are eompelled to look after and pay for is enough to make them weary of banking business. The Livingston papers are inclined to throw a mantle over what they call "gossip," but where the facts hold out the statements SQ well the gossip must have been well founded.

2. September 30, 1884 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, September 30, 1884

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Article Text

TELEGRAPHIC BREVITIES. It is reported that the Empress of China has decided to conclude peace with France. Admiral Courbet will not, according to official advices, recommence operations in China waters until the 1st of October. M. Barrere has summoned all the French officials in the Egyptian service to return to Alexandria immediately. The French budget asks for 10,000,000 to 15,000,000 francs for the Tonquin expedition and 65,000,000 francs to arm the navy. Rev. Heber Newton appeared in his pulpit at the Anthon Memorial Church. New York, Sunday, after a long absence from illness. George Lorillard has sold his farm at Islip, Long Island, to B. Cutting for $125,000. His celebrated racing stud will be removed. Edward T. Backhouse, President of the Kings County, N. Y., Insurance Company. died Sunday of diphtheria. He was born in 1806. The courage of the King of Italy in visiting Naples has secured to him thelwarm friendship of the Republicans, and has done much for the real unification of Italy. Mrs. Paul Arthur McDonough is separated from her husband in New York. She was Emma Carson, 8 rising soprano from California, and it is thought her many admirers have turned her head. A special from Washington says: It is not believed that Gresham will remain in the Treasury long enough to make the annual report. He takes the stump for Blaine in a few days. The Massachusetts Gas Company struck the largest gas well yesterday morning yet developed in the Tarantum field, says a Pittsburg dispatch. The vein was struck on the Geist farm at a depth of 1,200 feet. The reported revolt against Parnell in county Mayo is denied. Patrick Egan says any candidate approved of by Parnell will be just as certain of election in county Mayo at the next vacancy as in any constituency in Ireland. Officers of the Cincinnati, New Orleans and Texas Pacific Railway report that arrangements are completed for the transfer of passengers at the break caused by the recent burning of a portion of the Lake Pontchartrain bridge. Gladstone's attention being called to the statements published in an anonymous pamphlet, which accuse him of supporting the Roman Catholic Church, he pronounces them grossly untrue, and demands the name of the author. A special from Livingston, M. T., says: D. E. Fogarty, late cashier of the First National Bank, was arrested yesterday by the Deputy United States Marshal, on complaint of C. A. Baker, Receiver of the bank, charging him with embezzlement of the bank's money. French Ministerial papers express satisfaction at the agreement between France and Germany relative to Egyptian affairs. A bill for the organization of a colonial army will be presented to the Chambers soon to convene. The chief feature of the bill will be the transfer of the marines to the control of the Minister of War. The acting Secretary of the Treasury has accepted the offer of Charles H. Barth to pay $32,700 in compromise of a claim of $100,000. alleged to have been embezzled by him while in the service of the United States as clerk in the Quartermaster General's Department at San Francisco several years ago. It was shown that no more could be recovered.

3. September 30, 1884 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, September 30, 1884

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Article Text

CASHIER ARRESTED. Carelessness Which Has Led to a Charge of Embezzlement. . A Livingston (Montana) special to the St. Paul Pioneer Press says that D. E. Fogarty, late cashier of the insolvent First National Bank-of that place, was arrested yesterday by a deputy United States marshal on complaint of C. A. Baker, receiver of the bank, charging him with embezzlement of the bank's money. The specific act charged in the complaint was the collecting of about $500 for J. J. McGrath & Co., of Chicago, which was never remitted, and was not entered on the bank's books. Mr. Baker says this is one of the many instances in connection with Mr. Fogarty's management of the bank. Bail was fixed at $3,000, which he obtained. Fogarty says he has no doubt as to his ability to clear bimself of the charge. He says many collections were made in the latter part of the bank's existence, the proceeds of which were absorbed by the checks that came in from the depositors. Remittances were, therefore, not made, but the records of the collections appear in the books. Fogarty was for several years bookkeeper in the German-American Bank in St. Paul, and while occupying that position several times laid himself open to severe criticism for carelessness, at one time narrowly escaping arrest through a piece of sheer folly, practiced to secure a balance in a hurry, 80 that he might keep a social engagement. Fogarty went to Livingston and assumed the duties of cashier of the First National when that bank was,opened. more than a year ago. His habits are reg. ular so far as known, nor is he charged with outside speculation. " A good deal more fool than knave," is the general comment in St. Paul concerning the man.

4. October 1, 1884 Wheeling Register Wheeling, WV
Article from Wheeling Register, October 1, 1884

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Article Text

ARRESTED. Carelessness Which Has Led to a Charge of Embezzlement. Sr. PAUL, September 30.-A Livingsten, Montana, special to the Pioneer Press says that D. E. Fogarty, late cashier of the insolvent First National Bank of that place was arrested yesterday by a Deputy United States Marshal on complaint of C. A. Baker, receiver of the bank. charging him with embezzlement of the bank's money. The specific act charged in the complaint was the collecting of about $500 for J. J. McGrath & Co., of Chicago, which was never remitted, and was not entered on the bank's books. Mr. Baker says this is one of the many instances in connection with Mr. Fogarty's management of the bank. Bail was fixed a $3,000, which he obtained. Fogarty says he has no doubt as to his ability so clear himself of the charge. He says many collections were made in the latter part of the bank's existence, the proceeds of which were absorbed by the checks that came in from the depositors. Remittances were, therefore. not made, but the records of the collections appear in the books. Fogarty was for several years bookkeeper in in Bank the German-American St. Paul, and while occupying that position several times laid himself open to severe critizism for carelessness, at one time narrowly escaping arrest through a piece of sheer folly, practiced to secure a balance in a hurry, so that he might keep a social engagement. Fogarty went to Livingstone and assumed the duties of Cashier of the First National when that bank was first opened, more than a year ago. His habits are regular so far as known nor is he charged with outside speculation. "A good deal more fool than knave," is the general comment in St. Paul concerning the man.

5. October 3, 1884 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, October 3, 1884

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Article Text

# Mr. Fogarty's Trouble. The late cashier of the First National bank of Livingston, Mr. D. E. Fogarty, whose arrest took place at Livingston on Saturday, on a charge of technical embezzlement preferred by the receiver of the bank, has decided not to undertake to give the $2,000 bail required, but to spend the interval before the sitting of the grand jury of the next term of the district court in the county jail at Bozeman. The offer made to Mr. Fogarty to furnish him bail was declined by him. The case against him appears to be purely technical and the prosecution an instance of persecution that none of the circumstances of the bank's failure demand.

6. October 8, 1884 The Bozeman Weekly Chronicle Bozeman, MT
Article from The Bozeman Weekly Chronicle, October 8, 1884

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Article Text

Fructuary Fogerty. D. E, Fogerty. cashier of the National bank now numbered among the dead institutions of Livingston, was arrested last week for alleged crookedness. Failing to produce $2000 bail on Wednesday was brought to Bozeman and placed in jail to await. the action of the next district court. In referring to the arrest the PioneerPress make a damaging statement, which we hope may be disapproyed. It says : "The above announcement will not cause much surprise in St. Paul, Mr. Fogerty's former home, since the trouble at the Livingston bank and the carelessness of its late cashier have been topics of general comment for some time. In a recent interview in the Pioneer-Press, N. P. Lengford, United States bank examiner, said that while Mr. Fogarty had not, probably, been guilty of any crime, he was none the less amendable to the law on the charge of criminal carelessness. Mr. Langford, in common with all the experts who examined into the affairs of the bank, were surprised, not to say disqusted, at the loose methods of bookkeeping and accounting there in vogue. It was openlp stated in St. Paul when the receiver got at the bottom of affairs there would be trouble for Fogerty. Still, no one believes him guilty of criminal intent, or that he has made any money of the suspended First National or its depositors. He was for several years bookkecper in the German American bank in St. Paul, and while occupying that position several times laid himself open to severe criticism for carelessness, at one time narrowly escaping arrest through a piece of sheer folly, practiced to secure a balance in a hurry that he might keep a social engagement. Fogartv went to Livingston and assumed the duties of cashier of the First National when that bank was opened—more than a year ago. His habits are regular so far as known, nor is he charged with outside speculation. A good deal more fool than knave, is the general comment in St. Paul concering the man."

7. November 15, 1884 The Livingston Enterprise Livingston, MT
Article from The Livingston Enterprise, November 15, 1884

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Article Text

OTICE. N TREASURY DEPARTMENT, Office of Comptroller of the Currency, WASHINGTON, August 25, 1884. Notice is hereby given to all persons who may have claims against "The First National Bank of Livingston," Montana Territory, that the same must be presented to Charles A. Baker, Receiver, with the legal proof thereof, within three months from this date or they will be disaliowid J.S. LANGWORTHY, Deputy and Acting Comptroller ot the Currency. (d6t-w10t)

8. June 27, 1885 The Livingston Enterprise Livingston, MT
Article from The Livingston Enterprise, June 27, 1885

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IDS FOR REAL ESTATE.-By virtue of B an order of the District Court for the First Judicial District for the Territory of Montana, dated the second day of January, A. D. 1885, bids will be received by the undersigned for the purchase of the real estate hereinafter described, FOR THIRTY DAYS from the first issue of this notice. Said property is described as follows, to-wit: Lot number one (1) in Block numbersixty-one(61), in town of Livingston, with the Bank Building standing on the same. I am authorized to sell with this lot and building the Fixtures in the Bank, consisting of Counters, Desks and Safe. The appraised value of the property is Thirteen Thousand and Flve Hundred Dollars ($13,500), and cannot be sold for less than that sum. Terms of sale-CASH. CHARLES A. BAKER, Receiver of The First National Bank of Livingston, M.T. firet pub. may30.

9. August 1, 1885 The Livingston Enterprise Livingston, MT
Article from The Livingston Enterprise, August 1, 1885

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IDS FOR REAL ESTATE.-By virtue of B an order of the District Court for the First Judicial District for the Territory of Montana, dated the second day of January, A. D. 1885, bids will be received by the undersigned for the purchase of the real estate hereinafter described. Said property is described as follows, to-wit: Lot number one (1) in Block number sixty-one (61), in town of Livingston, with the Bank Building standing on the same. I am authorized to sell with this lot and building the Fixtures in the Bank, consisting of Counters, Desks and Safe. The appraised value of the property is Thirteen Thousand and Flve Hundred Dollars ($13,500). The right is reserved to reject any and all bids. Terms of sale-CASH. CHARLES A. BAKER, Receiver of The First National Bank of Livingston, M.T. first pub. may30.

10. August 8, 1885 The Livingston Enterprise Livingston, MT
Article from The Livingston Enterprise, August 8, 1885

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ERVOUS DEBILITATED MEN. N You are allowed a tree trial of thirty days of the use of Dr. Dye's celebrated Voltaic Belt with electric Suspensory Appliances, for the speedy relief and permanent cure of nervous debility, loss of vitality and manhoyd, and all kindred troubles. Also for many other diseases. Complete restoration to health, vigor and manhood guaranteed. No risk is incurred. Illustrated pamphlet, with full information, terms, etc., mailed free by addressing Voltaic Belt Co., Marshall, Mich. FOR PUBLICATION.- -Land OfNOTICE Bozeman, M. T., July 18, 1885. Notice is hereby given that the following-named settler has filed notice of his intention to make final proof in support of his claim, and that said proof will be made before the Register and Receiver at Bozeman, M. T., on August 31, 1885, viz: Benja min V. Clark, D. S. 697, for the Lot 4, S. W. 1/2, of fractional N. W. 14; -N. W. 1/4 of S. W. 1/4, section 29, and S. E. I', of N. E. 1/4, section 30, township 1, So. R. 11 East. The names of the following witnesses to prove his continuous residence upon, and cultivation of, said land, viz: Wm. B. McAdow, Chas. P. Blakely, Andrew J. Smith, George F. Shelton, all of Bozeman, Gallatin Co., M.T. O. P. CHISHOLM. Register. first publication, july 25, 18853 IDS FOR REAL ESTATE.-By virtue of B an order of the District Court for the First Judicial District for the Territory of Montana, dated the second day of January, A. D. 1885, bide will be received by the undersigned for the purchase of the real estate hereinafter described. Said property is described as follows, to-wit: Lot number one (1) in Block number sixty-one (61), in town of Livingston, with the Bank Building standing on the same. I am authorized to sell with this lot and building the Fixtures in the Bank, consisting of Counters, Desks and Safe. The appraised value of the property is Thirteen Thousand and Flve Hundred Dollars ($13,500). The right is reserved to reject any and all bids. Terms of sale-CASH. CHARLES A. BAKER, Receiver of The First National Bank of Livingston, M. T. first pub. may30.