10353. Lombard Investment Company (Kansas City, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 18, 1895
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
4c40a7e5

Response Measures

None

Description

The Lombard Investment Company was placed in federal receivership (court-appointed). Articles describe foreclosure suits and the eventual discharge of the receiver, indicating the company was closed under court control rather than experiencing a depositor run. No run described. Dates: receivership in place by March 1895 (article references contracts made by receivers on or before 1895-03-18); receiver discharged 1896-10-06.

Events (3)
1. March 18, 1895 Suspension
Cause
Government Action
Cause Details
Company placed in federal receivership / court control (receiver appointed prior to or by March 18, 1895).
Newspaper Excerpt
The title is Subject to any contracts made by a majority of the five receivers on or before March 18, 1895, or by the sole receiver since that time.
Source
newspapers
2. October 1, 1896 Other
Newspaper Excerpt
The Atlantic Trust company of New York, has filed in the Federal court, a bill in equity against Frank Hagerman, receiver of the Lombard company of Kansas City, ... asking for a decree of foreclosure in the matter of a million dollar debenture bond ... The suit is the first step towards the re-organization of the Lombard company.
Source
newspapers
3. October 6, 1896 Receivership
Newspaper Excerpt
Yesterday morning in the federal court Judge Philips made an order discharging Frank Hagerman as receiver of the Lombard Investment Company and releasing his bondsmen. This closes up the receivership entire, ...
Source
newspapers

Newspaper Articles (4)
1. January 31, 1896 New-York Tribune New York, NY
Article from New-York Tribune, January 31, 1896

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Article Text

BUSINESS EMBARRASSMENTS. Minneapolis, Minn., Jan. 30.-The Northern Savings and Loan Association went into the hands of a receiver yesterday. Its last statement showed a total of $12,217 assets. The association was lable on its instalment stock of $23,822. Kansas City, Mo., Jan. 30.-Judge Phillips yesterday confirmed the sale of the assets in the case of the New-York Security and Trust Company et al against the Lombard Investment Company et al. The title is invested in the purchasers-James Salman, Frank K. Hipple and William W. Crapo-upon their paving the balance of the purchase price of $200.000. The properties enumerated are the Lombard Investment Company, of Kansis: the Lombard Investment Company, of Missouri: Valley Loan and Trust Company, Alliance Trust Company and City Real Estate Company. The title is Subject to any contracts made by a majority of the five receivers on or before March 18, 1895. or by the sole recelver since that time.

2. October 1, 1896 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, October 1, 1896

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Article Text

BIG SUIT ON HAND. Topeka, Kas., Oct. 1.-The Atlantic Trust company of New York, has filed in the Federal court, a bill in equity against Frank Hagerman, receiver of the Lombard company of Kansas City, and others asking for a decree of foreclosure in the matter of a million dollar debenture bond, delivered by the Lombard company to the plaintiff in trust for money loaned. The suit is the first step towards the re-organization of the Lombard company.

3. October 2, 1896 Pine Bluff Daily Graphic Pine Bluff, AR
Article from Pine Bluff Daily Graphic, October 2, 1896

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Article Text

Filed & Bill. TOPEKA, Oct. 2.-The Atlantic Trust company of New York has filed in the Federal court a bill in equity against Frank Hagerman, receiver of the Lombard company of Kansas City and others, asking for a decree of foreclosure in the matter of $1,000,000 debenture bonds delivered by the S, Lombard company to the plaintiff in trust for money loaned. The suit is the first step towards the reorganization of the Lombard company.

4. October 6, 1896 Kansas City Daily Journal Kansas City, MO
Article from Kansas City Daily Journal, October 6, 1896

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Article Text

# LOMBARD RECEIVERSHIP CLOSED. Receiver Frank Hagerman Discharged and Bondsmen Released. Yesterday morning in the federal court Judge Philips made an order discharging Frank Hagerman as receiver of the Lombard Investment Company and releasing his bondsmen. This closes up the receivership entire, with the exception of the final settlement of the questions pertaining to the disposition of the Kansas guarantee fund and the Montana Savings bank trust fund, in both of which matters there are some questions of the priority of liens and rights that will have to be determined by the court, and are now in process of solution, and will be reached some time during the winter. In the long litigation that has resulted from the receivership and in untangling the great mass of facts and complications surrounding the affairs of the company, Mr. Hagerman has handled the matter so that his every act has had the indorsement of the court, and his discharge closes one of the heaviest and most arduous tasks that has been in the federal court for many years.