10352. Lombard Investment Company (Kansas City, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
September 19, 1893
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
cd55b052

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (Sept 19–20, 1893) report that receivers were appointed for the Lombard Investment Company by Judge H. C. Caldwell on the application of the New York Security and Trust Company. There is no mention of a depositor run or a temporary suspension/reopening — the company was placed in receivership (closure). I infer 'private' for bank_type because the name is an investment company (not 'National'/'State'/'Trust' as primary).

Events (1)

1. September 19, 1893 Receivership
Newspaper Excerpt
Receivers appointed for the Lombard Investment Company. The appointments were made by Judge Henry C. Caldwell ... on the application of the New York Security and Trust Company.
Source
newspapers

Newspaper Articles (7)

Article from The Indianapolis Journal, September 20, 1893

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Article Text

BUSINESS TROUBLES. Receivers Appointed for the Lombard Investment Company. KANSAS CITY, Mo., Sept. 19.-The news was given out, this evening, at the headquarters of the Lombard Investment Company, that receivers have been appointed for the company. The appointments were made by Judge Henry C. Caldwell, of the Eighth judicial circuit, at St. Paul, Minn., yesterday, on the application of the New York Security and Trust Company. The receivers appointed are: Charles S. Fairchild. of New York. ex-Secretary of the Treasury: M. E. Whitney, a banker. of Westfield, Mass.; Sanford B. Ladd and Frank Hagerman, attorneys, of Kansas City, and H. E. Mooney, vice president of the Lombard Company, also of this city. The Lombard Investment Company has a capital of $4,000,000 paid up, and the other subsidiary companies, which wereorganized by the parent company to take care of the different branches of business, have paid up capitals varying from $300,000 to $500.000, all owned by the parent company. The company has now outstanding in guaranteed loans over $30,000,000 at 6 per cent. interest. The assets of the company equal that amount, but they consist of property not now negotiable. and upon which not enough money. 80 the complainants to the suit allege, could be raised to meet maturing debts.


Article from St. Paul Daily Globe, September 20, 1893

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Article Text

THE LOMBARD IN TROUBLE. KANSAS CITY, Mo., Sept. 19.-The news was given out this evening at the headquarters of the Lombard Investment company that receivers have been appointed for the company. The appointments were made by Judge Henry C. Caldwell, of the Eighth judicial circuit, at St. Paul, Minn., yesterday, on the application of the New York Security and Trust company. Maria H. Hotchkiss and George Burnham, the title of the suit being these parties as complainants against the Lombard Investment Company of Kansas. the Lombard Investment Company of Missouri Valley, Loan and Trust company, Investors' company. City Real Estate company, Alliance Trust company, corporations, defendants. The receivers appointed are: Charle Fairchild, of New York, ex-secretary of the treasury: M. B. Whitney, a banker of Westfield. Mass.: Sanford A. Ladd and Frank Hagerman, attorneys of Kansas City. and H. E. Mooney, vice president of the Lombard company, also of this city. The Lombard company has a capital of $4,000,000 paid up, and the other subsidiary companies, which were organized by the present company to take care of its different branches of business, have paid-up capital varying from $300,000 to $500,000 allowed by the parent company. The company has for years been doing a guarantee mortgage business. It has now outstanding in guaranteed loans over $300,000,000 at 6 per cent interest. The assets of the company equal that amount, but thev consist of property not now negotiable and upon which not enough money, so the complainants to the suit allege, could be raised to meet maturing obligations. The complainants set forth that up to Dec. 31 the company must pay out $90,000 for general expenses, $79,626 for interest on debentures. $74,000 interest on loans in process of foreclosure, $102,300 in taxes-an aggregate of $345,926while to meet these obligations there will be only $52,143.21 in available cash. In addition the interest which the company will have to meet in the performance of its guarantees is placed at $150,000 per month. Upon these allegations the receivers were appointed. The company did not resist the application.


Article from The Guthrie Daily Leader, September 21, 1893

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Article Text

# IN THE HANDS OF RECEIVERS. The Lombard Investment Company Undergoes a Change in Business Affairs. KANSAS CITY, Mo., Sept. 20.-The Lombard Investment company of Kansas City, Philadelphia and London and its auxiliaries, the Missouri and Kansas Trust company, the Valley Loan and Trust company, the Investors' company, the City Real Estate company and the Alliance Trust company were placed in the hands of receivers yesterday by Judge II. C, Caldwell, of the United States circuit court of the Eighth district, sitting at St. Paul. The following were appointed receivers: Hon. M. B. Whitney of Westfield, Mass.; ex-Secretary Charles S. Fairchild of New York; Sandford B. Ladd, Fraak Hagerman and H. E. Mooney of Kansas City. They were appointed upon application of the New York Security and Trust company: Maria H. Hotchkiss of New York and George Burnham of Philadelphia.


Article from The Red Cloud Chief, September 22, 1893

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LARGE KANSAS CITY FAILURE. Receivers Appointed For the Lombard In vestment Company. KANSAS CITY, Sept. 20.-It was announced here that before Judge Henry C. Caldwell, of the Eighth judicial circuit at St. Paul, receivers were appointed for the Lombard Investment company. They are Charles S. Fairchild of New York, ex-secretary of the treasury; M. B. Whitney, a banker of Westfield, Mass.; Sanford B. Ladd and Frank Hagerman, attorneys, of Kansas City, and H. E. Mooney, vice president of the Lombard company, also of this city. The receivers were appointed on the bill of complaint of the New York Se. curity and Trust company, Martha D. Hotchkiss and George Burnham. The New York Security and Trust company is a trustee of property deposited with it to secure two series of debentures issued by the Lombard Company of Missouri, amounting to $200,000. Mrs. Hotchkiss is the owner of loans guaranteed by the defendant, amounting to $150,000, and is also owner of 416 shares of stock in the Lombard Company of Missouri. Mr. Burnham is the owner of 900 shares of the capital stock of the Lombard Company of Missouri, amounting to $90,000. The company has offices in Kansas City, Boston, New York and Philadelphia.


Article from The Kimball Graphic, September 23, 1893

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Different Method Necessary. KANSAS. CITY, Sept. 20.-Last week all roads lead to the Cherokee Strip. This week they all seem to be leading away from it. Over 1,000 ex-boomers passed through the union depot enroute home, making a total of at least 4,000 for the past three days. Out of this number not a score could be found who secured a claim. Some of those who returned were boomers who, although they had secured a chance for a claim, were unwilling longer to endure the hardships of the Strip for the sake of a piece of land. It is the opinion of all who witnessed such a rush that the gov. ernment will have to find a different method of throwing lands open to settle. ment if it desires to avoid such disastrous failures as that of last week. LARGE KANSAS CITY FAILURE. Receivers Appointed For the Lombard In vestment Company. KANSAS CITY, Sept. 20.-It was announced here that before Judge Henry C. Caldwell, of the Eighth judicial circuit at St. Paul. receivers were ap. pointed for the Lombard Investment company. They are Charles S. Fairchild of New York, ex-secretary of the treasury; M. B. Whitney, a banker of Westfield, Mass.; Sanford B. Ladd and Frank Hagerman, attorneys, of Kansas City, and H. E. Mooney, vice president of the Lombard company, also of this city. The receivers were appointed on the bill of complaint of the New York Security and Trust company, Martha D. Hotchkiss and George Burnham. The New York Security and Trust company is'a trustee of property deposited with it to secure two series of debentures issued by the Lombard Company of Missouri, amounting to $200,000. Mrs. Hotchkiss is the owner of loans guaranteed by the defendant, amounting to $150,000, and is also owner of 416 shares of stock in the Lombard Company of Missouri. Mr. Burnham is the owner of 400 shares of the capital stock of the Lombard Company of Missouri, amounting to $90,000. The company has offices in Kansas City, Boston, New York and Philadelphia.


Article from The Coconino Weekly Sun, September 28, 1893

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MISCELLANEOUS. THE steamer Montgomery, twin ship to the United States steamer Detroit, on her third private trial trip, when off Thomas Point, Chesapeake bay, burst a steam pipe, and Chief Engineer Meshaw and Coal Heaver John Doyle were scalded to death. THE $5,000 race from Chicago to Milwaukee between the whaleback steamer Christopher Columbus, of Chicago, and the Goodrich line steamer Virginia, was won by the Columbus. THE jury at Topeka, Kan., found Secretary of State Osborn guilty of libelling Cy Leland. Osborn, in an interview, had stated that Leland was in collusion with George H. Case at the penitentiary in defrauding the state. JUDGE PUTNAM at Boston ordered a verdict of not guilty in the case of ExPresident Potts, of the Maverick bank, on the grounds of insufficient evidence. FIVE men were killed and six injured by a gas explosion in Lany No. 11 mine near Wilkesbarre, Pa. The disaster was caused by a naked light. THE mystery of the disappearance of Miss Jennie Mehl, the daughter of Eugene Mehl, formerly proprietor of the Ryan hotel, in St. Paul, Minn, has been solved. It has been learned that she was married to James Robinson, a young mulatto, formerly an elevator boy in the Ryan hotel. AN express on the Illinois Central was held up at Centralia, Ill. The trainmen showed fight, resulting in the defeat and wounding of two of the robbers. The fireman and engineer were wounded. Two of the bandits were captured, one of whom confessed. EIGHT of the rioters were killed and twenty-five wounded by the militia at Roanoke, Va. The negro was finally secured by the mob, hanged, shot and burned with the usual horrible incidents. THE executive committee of the fair have decided not to extend it beyond the time originally Set. GREAT excitement prevails among the colored people of Jefferson parish, adjoining New Orleans, over the recent lynchings there and a race war is believed to be imminent unless the governor interferes. AUTHENTIC information has been received of the sinking of the British schooner Windmere, with five persons. Two Chicago policemen and a crook in a street battle were all shot, the crook and one policeman fatally. THE town of Perry in the Cherokee strip is rapidly assuming city proportions. THE Memphis Appeal-Avalanche is about to change hands. THERE have been recent developments tending to show that the Louisville & Nashville will soon absorb the Cheapeake, Ohio & Southwestern. THE date of the race for the America's cup has been changed to October 5. EX-SECRETARY CHARLES FAIRCHILD, one of the receivers of the Lombard Investment Co., of Kansas City, does not think the company will be able to resume. EIGHTY-THREE lives were lost by the e foundering of the Haytien warship Alessandro Peton.


Article from The Meeker Herald, September 30, 1893

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# Telegraphic Brevities. The Lombard Investment Company assigned on the 19th. A family of six persons was murdered near Washington, Indiana, by robbers. Michigan officers have obtained $30,000 of the money taken from the train last week. The New York bankers are gradually reducing the amount of their clearing house certificates. Frederick L. Ames, the Boston millionaire, gave none of his money to charities or publio institutions. The French government is about to use force, if necessary, to compel Siam to comply at once with the conditions of the treaty. The first thing that the Democrats in the House will do, will be to pass a bill repealing the laws providing for supervisors of federal elections. The National Rolling Mill Co., which employs a large number of men at McKeesport, Pennsylvania, positively refuses to re-employ foreigners. St. Joseph, Missouri, suffered from a $1,000,000 fire on the 25th, and the fire department had to work hard to save the business portion of the city. Four steamers of the Belgian Anti-Slavery society have been lost on Lake Tanganyika, Central Africa, which greatly hampers the work of the society. By the carelessness of a mine foreman an explosion of gas was caused in Plymouth mine at Wilkesbarre, Pennsylvania, on the 21st, in which five were killed and six injured. The English yacht Valkyrie, which comes to compete with our crack vessels, arrived at New York on the 22nd after being out thirty-two days. She experienced continuous storms. The anarchists at New York have been making threats against the Fifth Avenue millionaires and the latter are hiring large numbers of special watchmen to guard against bombs. Dr. J. M. Norman, of Denver, has been chosen secretary of the Sovereign Grand Lodge of Odd Fellows recently meeting at Detroit. Richard Hoe, of Wisconsin, was made president. Governor West, of Utah, has declined the invitation to send delegates to the meeting of the Pan-American Bimetallic Association to be held at St. Louis. He thinks it might do more harm than good. Archbishop Ireland says that the "Farlbault plan" for partial union of Catholic and public schools has not been abandoned in Minnesota, although it has been suspended in the town of Faribault itself. It is reported that the Haytien war ship Alessandre Petion suddenly sank near Hayti on the 6th of September, and that all but one on board, numbering eighty, were lost. The cause is unknown. She was a new vessel. President Bonney, chlef of the world's fair congress auxiliary, has refused to allow the International congress of free-thinkers the use of the art institute. The free-thinkers have secured another hall, however, and will meet October 1. The United States fishery steamer Albatross arrived at Victoria, British Columbia, on the 24th. She reports having made deep sea soundings off the coast of Alaska, reaching a depth of 4,500 fathoms, the greatest depth ever reached. A meeting of the American Protestant Association at Kansas City ended in a fight. As the members reached the street they were attacked by a crowd of Catholies. In the fight which followed several were hurt and a number of arrests made. A sopho-freshman "rush" took place at Princeton Friday. The sophs used their fists and a free fight followed. Many were injured on both sides, black eyes and broken arms and legs were numerous, while some received severe internal injuries. There was a severe riot in Brooklyn the other day between Italians and Americans working on a street railway. The large body of policemen which attempted to disperse the riotors was attacked by the Italians and a great number were hurt. James J. Corbett, the pugilist, signed the formal articles of agreement at Asbury park Monday morning to fight Charles Mitchell, the English champion, before the Coney Island club sometime in December. Mitchell had already signed the articles. A dispatch from Rome says that the Vatican Tugworgura protes which formerly belonged to the pope. This installation is declared to be a direct insult to the Vatican. The recent train robberies at Kendallville, Indiana, and Hallack, Michigan, have aroused the Canadian express companies to a lively sense of the dangers that threaten that side of the border. It has been decided to arm crews on every express train with Winchester rifles. Ten more new cases of cholera, of which two have proven fatal, were reported at Hamburg on the 20th. The cases are all scattered about the suburbs, Six cases and five deaths were reported in Holland. Four new cases and nine deaths at Palermo and five cases and two deaths at Leghorn. Six robbers attempted to hold up express train No. 3 on the Kansas City, St. Joe & Council Bluffs road, one mile north of St. Joe at 1 o'clock Monday morning. The railroad officials had wind of it and sent out an exact duplicate of train No. 3 loaded with policemen. Two robbers were killed, three captured and one escaped. The statement of the New York banks for week ending September 23rd shows the following changes: Reserve, Increase, $7,008,250; loans, decrease, $735,200; specie, increase, $2,505,200; legal tender, increase, $3,471,100; deposita, increase, $6,673,400; circulation, increase, $856,700. The banks now hold $17,609,951 in excess of the requirements of the 25 per cent, rule. The bark Alamba of Glasgow, after being 161 days at sea, has reached New York. She left Colombo, Ceylon, April 11, laden with cocoanut oil and plumbago and was storm-beaten during nearly the entire passage. She came in battered and weather-worn, but sound. On August 19 and 21 she lost nearly all her saile. Captain Max Falck told a reporter who boarded the vessel that it was the roughest voyage he ever made. The suffering of the Cherokee Strip settlers from the recent drought and lack of water was relieved Thursday night by a coplous shower of rain. The rain will at once relieve the water famine, lay the dust and prevent the recurrence of the fearful sand storms of the past two weeks, besides putting the ground in condition for the plow. The rain began falling at 5 o'clock and continued for six hours. Eleven cases of small-pox were reported to the health officers at New York on the 20th. It is the greatest number on any one day this season. Dr. Doty, the head of the department on contagious diseases, with a staff of eight physicians and five police officers began a thorough search of the infected districts, to find all concealed cases, vaccinate every person liable to have small-pox and take other precautions to prevent the spread of the disease. For the first time a speaker in the parliament of religions was interrupted Wednesday by those in attendance who took exceptions to what he was saying. Mohammed Webb, the English convert to Islam, raised a storm by attempting to defend polygamy. The audience cried, "No! no!" He dropped the subject in despair. In the yells of protest many female voices could be plainly heard above the din. Archduke Frans Ferdinand, heir to the Austrian throne, has started from Spokane for the East over the Northern Pacific. Brigadier General Carlin, acting under orders from the war department, invited the prince to inspect or review the troops under General Carlin's command, but Count Wurmbrand, head chamberlain in waiting to the archduke re