Article Text
A Trust Company Assigns. KANSAS CITY, Mo., Nov. 6.-The Continental Trust Company has assigned to O. S. Young. The stock is $100,000. The company has $60,000 on deposit. The assets will probably fully cover the liabilities.
10304. Continental Trust Company (Kansas City, MO)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- trust company
- Start Date
- November 5, 1892
- Location
- Kansas City, Missouri (39.100, -94.579)
Metadata
- Model
- gpt-5-mini
- Short Digest
a8827359
Response Measures
None
Description
The Continental Trust Company (Kansas City, MO) failed/assigned in early November 1892 (failure/suspension dated Nov 5–6, 1892). Coverage describes insolvency and officers' large indebtedness to the bank (embezzlement/looting), an assignment to an assignee (O. S. Young / Adus G. Young), and later criminal charges (Dec 1893). No run is described; the bank suspended/failure and was assigned/placed in receivership.
Events (3)
1.
November 5, 1892
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank failed/was insolvent due to officers' loans/indebtedness to the bank (notes of officers/directors nearly equal to deposits; $30,000 borrowed by a director days before assignment).
- Newspaper Excerpt
- failure, November 5, 1892, of the Continental Trust Co.
- Source
- newspapers
2.
November 6, 1892
Other
- Newspaper Excerpt
- KANSAS CITY, Mo., Nov. 6.-The Continental Trust Company has assigned to O. S. Young.
- Source
- newspapers
3.
December 5, 1893
Other
- Newspaper Excerpt
- Warrants for the arrests of George S. Toulmin, President of the suspended Continental Trust Company, and Horace S. Lynn, Vice-President and Treasurer ... charged with grand larceny by receiving a deposit of $738 while they knew that their company was in an insolvent condition.
- Source
- newspapers
Newspaper Articles (4)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
Charged with Grand Lareeny. KANSAS CITY, Mo., Dec. 5.-Warrants for the arrests of George S. Toulmin. President of the suspended Continental Trust Company. and Horace S. Lynn. Vice-President and Treasurer of the same institution. were issued late this afternoon on complaint of County Prosecutor Brown. They are charged with grand lareeny by receiving a deposit of $738 while they knew that their company was in an insolvent condition. Hearing that the warrants had been issued. both men surrendered themselves, and were taken before Justice Latshaw and held in $4,000 bonds to appear on Friday for a preliminary examination. The Continental Bank suspended a year ago, with assets of $115,000 and liabilities of an equal amount.
Click image to open full size in new tab
Article Text
A GUTTED CONCERN. How the Officers Wrecked the Continental Trust Co. of Kansas City. KANSAS CITY, Mo., Dec. 4.-It is probable that the affairs of another suspended bank will soon receive the attention of Prosecuting Attorney Marcy K. Brown. During the trial of a suit over a check for $196 brought by the Midland national bank against the Roll Lumber Co., growing out of the failure, November 5, 1892, of the Continental Trust Co., Assignee Adus G. Young, testified that depositors of the trust company have thus far received a dividend of only 3 per cent. and that it is very doubtful if they will receive 3 per cent. more. He testified that he held the notes of officers and directors of the bank for nearly the entire amount of its deposits. The deposits subject to check shortly before the failure of the bank were about $97,000, and the time deposits about $10,000. The witness said that $30,000 in cash was borrowed from the bank by one of the directors only a few days prior to the assignment. The total indebtedness to the bank of its officers. as evidenced by their notes, was stated to be about $115,000.
Click image to open full size in new tab
Article Text
MISSOU been started in Louis looking ministers A MOVEMENT of the to has Christian the taxation church of of Kansas believes THE that lizing of safe their police blowers forces and for burglars a raid association, are upon mobel that town. State Dairy session THE Missouri hold its annual 19. will of dairy which will January 11 exhibitors papers. products dairy subjects, aggregating Carrolton premiums to Missouri and readers of in value of the state about and 200. THE an order discharging the First, Second Carand thage has issued private tes from at St. discharged their having served forty Fourth Brookfield. infantry the full term of senrecently men enlistment MARION HOVEY penitentiary was for for the life whose murtenced to guilty a the at Vanduson, Dexter, with Mrs. Vanduson der plea of Matthew was intimate life sentence wife Harvey is already is serving assault violent and the the State as as necessory. THE grip people has made of Jefferson a istration. City, Lesueur, upon tacked Secretary of Stephens Gov. even Stone, ibert, the clerks Treasurer about departments of Auditor and nearly half were of the sufferers from its the secretary in sidious GEORGE at P. SCOTT. and principalitation.at figure at Grocers union sunday closing with the KansaM recen City, has of organization the gone He that a young 8600 deserted of the funds his wife typewriter and had terJUDGE day other were with him REQUA to Greaseria died in and the the Indian body was He interment was ritory taken the to Nevada Vernon for county, court and helped organize of the first county county in the was state the represented in mber ted the terms. He the present was legislature Hon. two J. J. Requa, Vernon, and father of tive from Jefrepresent of age. of V. J. Reid, City, on was ST : years resi lence in Kansas night, and ferson THE street. fire the other time to escape destroyed by barely had their night the family building in one of from the servants. from the save herself Jumped the window. third-story was and clothes. Anna To Nelson, The loss about on furniture dwelling Fairly recentis 000. mandamus the supreme sought court, to be Is a before dentist under the instituted St. Louis service the ccurt exempt which from jury physicians, not exempt law exemptentists were divided. how held that was closely Barclay, Gantt court Sherwood. the opinion. Chief ever, The Justices joining in and Justices and Burgess Justice Black dissentir Burgess and Brace and supreme Macfarlane court Judge day in a case in IN the the of the law an opinion The judge regard to deal involving filed dealing a consti involving in grain. the delivery and property held that a was the under concurred of misdemeanor no Gantt and Sher wood by Judge Bur Judges in the The views decision expressed former is more ruling first far of ruling law, the gess. ing than any in fact. is the dealing court, and. anti-option deafwhere the has teen years invoked. old, dumb 12 deaf and FREI student LAMAR, in the was frozen the to death instiasylum mute at Fulton, pasture, near He and some in the the asylum other night. out gathering boys tution. students were the time the and The other About fell in fit. boy could hazlenuts started home Lamar went to Lamar, him. and left ground. smaller boy not wake The officials searching went says him lying he on at the supper. him. and but did not He next missed him to look for morning. nd an orphan party till early and granted a find from him Jasper of county state has Chicago was THE River & stock $1, of charter to the The capita the articles Railway Co. According to will be con 200,000. a railroad the Missouric Calla associati from a point railroad, in and structed & Eastern near St. Aubert direction Kansas county northwesterly from the lat diFulton northern near way thence in a and Columbia, and easterly Centralia, point in a Wabash counties ter to the through the Marion 120 to Hannibal, Audrian, a distance rection and thence Monroe. Ralls and of about miles. of anthe affai that City will bank the receive During other IT 18 suspendention suppended probable Kansas of the the grand trial jury for a note case which the sued been at an the early other day. day in as a result of Trust Continental failure $196 had in 1892 of testified the that per cent. and Co. the assignee been paid if three they would receive that had only doubtful He testified diheld that it is cent. more. officers and bank The three per the notes, of for nearly the depos- enrectors he of the of its deposits. shortly before $97,000. the the tire amount ubject the to check bank were about about $10,000. cash by its failure of time deposits that $30,000 in one of and witness said from the bank days prior to court was The directors borrowed only a Upon few the assignee directed the the assignment testimony matter the before the giving the clerk this to attorney lay the for man his action. about f prosecuting ASHCHAFT, a by the Chicago, Edg 0 WILLIA'S old. was run over railway at night, at and Rock years Island & Pacific the other intoxicated, Junction. He was train while erton legs cut off to board the and fell beboth and in trying lost his footing in motion ears. of selling tween the JENNINGS convicted territory day' and JOHN the Indian and one a a sentenced in from liquor in to one the year penitentiary United t imprisonment O., escaped at Rockville, Columbus, Adams by jumping on Mo., the the window States Marshal other morning a Missouri livery through & Texas car. fired the Kansas AN exploding Howell lantern & at Nevada, th of