10713. Bankers Trust Company (St Louis, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
November 30, 1916
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
48bcc0ab

Response Measures

None

Description

The articles consistently state the Bankers Trust Company now is in the hands of the receiver and describe indictments, restraint of bond sales, and sales of collateral and railroad holdings. There is no mention of a depositor run or temporary suspension and reopening; the bank is in receivership and assets are being sold, so this matches a suspension leading to permanent closure/receivership.

Events (5)

1. November 30, 1916 Other
Newspaper Excerpt
Indictments charging use of the United States mails to defraud, returned by the federal grand jury November 18 against John E. Franklin and Charles E. Marsh, former officers of the Bankers' Trust company ...
Source
newspapers
2. November 30, 1916 Receivership
Newspaper Excerpt
St. Louis, Nov. 30.-Indictments ... former officers of the Bankers' Trust company, which now is in hands of the receiver, were made public yesterday ...
Source
newspapers
3. December 8, 1916 Other
Newspaper Excerpt
Bonds ... were held by the National Bank of Commerce of St. Louis as security for indebtedness of the Bankers Trust company, a corporation that promoted the railroad and that now is in the hands of a receiver.
Source
newspapers
4. December 16, 1916 Other
Newspaper Excerpt
Sale of the bonds of the San Antonio, Uvalde and Gulf railway to John T. Milliken ... Federal Judge Dyer dismissed the injunction suit of the Bankers' Trust company ... which had appointed a receiver for the Bankers' Trust company.
Source
newspapers
5. March 10, 1917 Other
Newspaper Excerpt
A. R. Pon... paid $1,000,000 in cash to Leon W. Quick, receiver of the Bankers' Trust company, for the San Antonio, Uvalde and Gulf railroad, the chief asset of the trust company.
Source
newspapers

Newspaper Articles (6)

Article from The Topeka State Journal, November 30, 1916

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Article Text

INDICT BANKERS Officials of Defunct Company Held on Two Counts. Allege False Statement and Defrauding a Bank. St. Louis, Nov. 30.-Indictments charging use of the United States mails to defraud, returned by the federal grand jury November 18 against John E. Franklin and Charles E. Marsh, former officers of the Bankers' Trust company, which now is in hands of the receiver, were made public yesterday when the two defendants in the indictments furnished bonds. The bonds in each indictment were fixed at $5,000. The charges, as set forth in the indietments, arose out of the transactions of the two men while officers of the Bankers' Trust company. One indictment charges the men with sending thru the mails false reports of the condition of the Bankers' Trust company in order to inflate the price of the company's stocks. The second indictment charges that the State Bank of Little Rock, Ark., was defrauded of $30,626, which should have been turned over to cover notes which the bank held, but instead were paid to companies n which the officers of the Bankers' Trust company were interested.


Article from Iron County Register, December 7, 1916

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Article Text

St. Louishas advertised for sale, Friday, December 8th, a lot of collateral placed with the bank by the Bankers' Trust to secure a note given by the Trust Company to the Bank of Commerce. Among the assets offered for sale are the bonds of the San Antonio, Uvalde & Gulf railroad, a note of W. C. Gunn, notes of the Littlejohn Irrigation Company, a note of the Franklin Development Company, and a note of the Cross S. Farming Company. The receiver of the Bankers' Trust Company, Leon W. Quick, recently called a meeting of the stockholders in St. Louis to try and save this property from sale, but nothing was accomplished, those interested saying it looked too much like "sending good money after bad." One evening several weeks ago Fred Cureton, the merchant at Bixby, in the west end of the county, was held up and robbed of several hundred dollars. That evening after Cureton had closed his store for the night a couple of men appeared at his residence and said they wanted to buy some lunch. Cureton then went to the store and got them what they wanted. One of the men tendered a five dollar bill in payment of their purchases. Mr. Cureton opened his safe to get the change and took out a drawer full of money. As he did so a revolver was thrust in his face and he was told to give up the money. There was nothing else to do and Mr. Cureton had to comply with their demands. The men then backed him out of the store at the point of their guns, and disappeared in the darkness. The robbers were strangers and wore no masks or disguises. It is not likely they will be apprehended. The money taken amounted to between $500 and $700. Miss Regina Thome, formerly of Iron county, a sister of Gregor Thome, in St. Louis, and sister of Mrs. Christ Shafer, of Roselle was united in marriage at Quincy, Ills., Wednesday, November 29, 1916. The followin g account of the wedding is reproduced from a Quincy paper: "The marriage of Frank H. Zehnle a grocer of 1216 Spruce street, and Miss Mary Regina Thome, who until three months ago lived in St. Louis, took place at 6 o'clock, Wednesday morning in St. John's Catholic church, Father Joseph Postner officiating. They were attended by Miss Maggie Schnier and John Schutte, and after the ceremony there was a wedding breakfast in the Zehnle home to which about 30 were invited. Pink and white decorations were used about the rooms. In the afternoon a reception was held, a nd in the evening Mr. and Mrs. Zehnle whre charivaried by a company of friends and the members of the R. A. R. band. They will go at once to housekeeping. The REGISTER tenders congratulations and very best wishes! Prominent among the divorce cases on the docket for the October term of circuit court was that of Pernecia Robbins vs. William M. Robbins, brought here from Madison county on a change of venue. Both parties were prominent in their homeand the defendant a man of wealth. Gross indignities and misconduct were alleged in the petition. Some forty witness were here in attendance and there seemed to be considerable bitter feeling. But before going to trial an agreement was reached out of court, the plaintiff being given a decree of divorce and awarded alimony to the extent of $5,000 or more. That was supposed to terminate affairs between Mr. and Mrs. Robbins,' but it didn't. Bright and early Monday morning the divorced man and wife put in an appearance before Recorder Hawkins, asked for a marriage license, sent for Rev. N. B. Henry who solemnized the marriage in the Recorder's office. Robbins is a man probably fifty-two


Article from The Fargo Forum and Daily Republican, December 8, 1916

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Article Text

RESTRAIN BOND SALE. (By Associated Press.) St. Louis, Dec. 8.-Suit to restrain the National Bank of Commerce of St. Louis from selling at auction mortgages and bonds of the Bankers' Trust company, with a face value of $4,539,000 to satisfy a claim of $776,000 was filed in the federal district court here. The suit was filed by two creditors of the Bankers' Trust company, which now is in receivership. The auction is scheduled for Friday afternoon, Judge Dyer heard arguments on the suit for an injunction this morning. The Bankers' Trust company held stock in small town banks throughout the southwest,


Article from Tulsa Daily World, December 9, 1916

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Article Text

MILLIKEN BUYS RAIL BONDS Millionaire Pays $785,000 for Large Block of Securities. ST. LOUIS, Dec. 8.-Bonds of the San Antonio, Uvalde & Gulf railroad with a par value of $3,647,000 were sold today to John T. Milliken, multimillionaire manufacturer and mine owner of St. Louis, for $785,000. The bonds were held by the National Bank of Commerce of St. Louis as security for indebtedness of the Bankers Trust company, a corporation that promoted the railroad and that now is in the hands of a receiver. The amount paid by Mr. Milliken for the bonds covers in part the indebtedness of the Bankers Trust company to the National Bank of Commerce. He bought the bonds at private sale after a proposed auction announced for today had been cancelled. Other collateral held by the National Bank of Commerce against the Bankers Trust company was released to the receiver. This collateral represents Texas real estate and about $60,000 in the stock of small banks.


Article from The Waxahachie Daily Light, December 16, 1916

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Article Text

# MAY BE NO APPEAL IN RAILWAY CASE SALE OF BONDS OF UVALDE RAILWAY RATIFIED BY FEDERAL CIRCUIT COURT. Bonds Bought By John T. Milliken for $785,334.17—Securities Held By a Trust Company. ST. LOUIS, Dec. 16.—Doubt was expressed today whether an appeal would be filed in the decision of Circuit Judge Koerner, who late yesterday ratified the sale of the bonds of the San Antonio, Uvalde and Gulf railway to John T. Milliken. The purchase price was $785,334.17. The bonds are said to have a face value of $3,467,000. An appeal was consedered when Federal Judge Dyer dismissed the injunction suit of the Bankers' Trust company to prevent ratification of the sale on December 7. The dismissal was made on the grounds that it was a fitting case for decision by the circuit court, which had appointed a receiver for the Bankers' Trust ompany. Milliken bought the bonds for the National Bank of Commerce which held the securities for loans to the trust company. The injunction suit was filed by W. E. Brauer of Hoyelton, Illinois, and W. W. Holt of Tuckerman, Ark. Both said they would appeal but the attorney claim that an appeal would be useless. The securities, which Milliken says, are not worth more than the purchase price, can be bought by the receiver for the trust company in ninety days through a compromise agreement.


Article from The Lakeland Evening Telegram, March 10, 1917

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Article Text

U. S. MERCHANTMEN WILL FIRE ON SUBMARINES THE MOMENT CRAET SIGHTED MILLION CASH BUYS $54,000,000 RAILROAD This Step Is St. Louis, March 10.-A. R. PonBased On der, Southeast Missouri railroad builder: paid $1,000,000 in cash to Leon W. Quick, receiver of the BankGermany's ers' Trust company, for the San Antonio, Uviede and Gulf railroad, the Declaration chief asset of the trust company. The road is 310 miles long and cost more than $54,000,000. ALL U-BOATS ARE HOSTILE SINCE