10722. Broadway Savings Bank (St Louis, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
May 22, 1879
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
8e914abf

Response Measures

None

Description

The Broadway Savings Bank (St. Louis) closed/suspended on 1879-05-22 by director decision and made an assignment. Articles report large withdrawals (~$100,000) prior to suspension and depositors' excitement; later reporting reveals alleged embezzlement by the cashier and appointment of an assignee/receiver. There is no evidence the bank reopened — assignee/receiver actions and embezzlement indicate permanent closure. Bank type not explicitly stated (savings bank).

Events (4)

1. May 22, 1879 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large withdrawals (~$100,000 since May 1) precipitated suspension; later reporting uncovered alleged embezzlement by the cashier (J. P. Krieger) and large indebtedness of an officer (M. Goldsoll).
Newspaper Excerpt
The Broadway savings bank closed its doors this morning in accordance with a decision reached by the directory at a late hour last night, and made an assignment.
Source
newspapers
2. May 25, 1879 Other
Newspaper Excerpt
J. P. Kreiger, Jr., cashier of the suspended Broadway Savings Bank, for whose arrest for embezzling funds of the bank a warrant was issued ... Kreiger is charged with embezzling from $100,000 to $250,000 of the bank's money. The arrest was ordered by the directors of the bank. (Also reporting of threats against directors.)
Source
newspapers
3. May 26, 1879 Other
Newspaper Excerpt
Dierberger was appointed assignee of the Broadway Savings Bank immediately after its suspension, but was objected to by the depositors of the bank and resigned the position to-day, and Phillip Stock was appointed in his place.
Source
newspapers
4. June 3, 1879 Receivership
Newspaper Excerpt
Judge Boyle has appointed J. M. Franciscus ... to all the position. Mr. Francicus gave bond as once for half a million and will take charge of the affairs of the defunct bank immedi- diately.
Source
newspapers

Newspaper Articles (21)

Article from Daily Press and Dakotaian, May 22, 1879

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tive and judicial appropriation bill, agreed to concur in the senate amendment and instructed Chairman Atkins to report the bill with a recommendation that it pass. TELECRAPHIC BREVITIES. SUNDAY SCHOOL ANNIVERSARY. New York, May 22.-The'Brooklyn Sunday School Union celebrated its 50th anniversary to-day with exercises, a grand parade and bauquet. The various churches were decorated. WM. LOYD GARRISON DYING. New York, May 22.-The death of Wm. Loyd Garrison is hourly expected. LIBERAL CONTRIBUTION. Boston, May 22.-The widow of Daniel P. Stone has given $25,000 to the Young Men's Christian Association, towards the erection of a new building. Several other persons promise liberal contributions. SAVINGS BANK ENJOINED. Lowell, Mass., May 22.-The five cent savings bank has been temporarily enjoined by the bank commissioner. The withdrawal of deposits and the shrinkage of mortgages is the cause. ADJOURNED. Albany, Mav 22.-The legislature adjourned to-day sine die. BANK FAILURE. St. Louis, Missouri, May 22, 1879.The Broadway savings bank closed its doors this morning in accordance with a decision reached by the directory at a late hour last night, and made an assignment to John Dierborger. The principal reason for suspension is said to be the withdrawal of about $100,000 of deposite since May 1, but a report is current that some of the directors of the bank have worked &gainst the interests of the concern, which aided materially in bringing about the failure. The liabilities are put at about seven hundred thousand dollars. The assets cannot be stated, but the president of the bank says that depositors will be paid in full, and there will be something over for the stockholders. Considerable excitement existed among depositors to-day, and there has been quite a crowd about the bank all morning, but it has been orderly. Depositors in some other savings institutions felt some uneasiness, and there have been rumors of runs, &c., but none have yet occurred. THE PRESBYTERIANS. Saratoga, May 22.-In the Presbyterian assembly the question of work among the freedmen was discussed and the necessity of an educated ministry among them urged by the speakers, both white and colored. TRIED FOR AN OLD CRIME. New York, May 22.-Wm. E. Grey, well known in Wall street a decade ago, and recently extradited from England. was placed on trial to-day on the charge of forgery, on an indictment found December 12th 1869. 8


Article from Public Ledger, May 22, 1879

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ST. LOUIS. Savings Bank Suspended-Consequent Excitement. ST. Louis, May 22.-The Broadway Savings Bank closed its doors this morning in accordance with a decision reached by the directory at a late hour last night, and made an assignment. The liabilities are put ) at about $700,000. The assets cannot be stated, but the president of the bank thinks the depositors will be paid in full and that there will be something over for the stockholders. There is considerable excitement among depositors today, and there has been quite a crowd at the bank all morning, but it has been orderly. Depositors in some other savings banks felt some uneasiness, and there have been rumors of runs, etc., but none have yet 00curred.


Article from The Rock Island Argus, May 22, 1879

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MISSOUR! ST. LOUIS, May 22.-The Broad way Savings Bank was closed this morning in accordance with the decision reached by the directors at a late hour last night and made assignment to John Dierborger. The principal reason for the suspension is said to be the withdrawal of about $100,000 of deposits since May 1st, but the report is current that some of the directors of the bank have worked against the interests of the concern which aided materially in bringing about the failure. The liabilities are estimated at about $700,000; the assets cannot be stated, but the president of the bank thinks depositors will be paid in full and there will be something over for stockholders. Considerable excitement existed among depositors to-day and there has been quite a crowd about the bank all the forenoon but it has been orderly. Depositors in some other savings institutions felt some uneasiness and there have been rumors of runs, etc., but none have yet occurred. A fire this morning in the Flaven Printing Co's. establishment, on Pine street between Second and Third, damaged the concern about $20,000.


Article from Evening Star, May 23, 1879

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THE BROADWAY Savings bank, of St. Louts, closed its doors yesterday, and made an assignment. The liabilities are put at about $700,000, but the assets cannot be stated, though the president claims depositors will be paid in full, and that there will be something over. A large withdrawal of deposits is assigned as the rea. son for suspension.


Article from The Cheyenne Daily Leader, May 23, 1879

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A Savings Bank Closed. St. Louis, May 22.-The Broadway savings bank closed its doors this morning, in accordance with tha decision reached by the directory at a late hour last night, and made an assignment to John Dierborger. The principal reason for the suspension is said to be the withdrawal of about one hundred thousand dollars in deposits since May 1st, but there are reports current that some of the directors of the bank have worked against the interests of the concern, which aided materially in bringing about the failure. The liabilities are about $700,000; the assets cannot be stated, but the president of the bank thinks that depositors will be paid in full.


Article from The Wheeling Daily Intelligencer, May 23, 1879

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Couldn't Stand the Run. Sr. Louis, May -The Broadway Sayings Bank closed its doors this morning. It made assignment. The reason for the suspension is said to be the withdrawal of $100,000 since May 1st. Its liabilities are put at about $200,000. Assets cannot be stated, but the Presidentof the bank thinks depositors will be paid in full. A tire this noon in the Flaven Printing Company's establishment, Pine street, damaged the concern about $20,000.


Article from Public Ledger, May 23, 1879

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ST. LOUIS. Savings Bank Suspended-Consequent Excitement. ST. LOUIS, May 22.-The Broadway Savings Bank closed its doors this morning in accordance with a decision reached by the directory at a late hour last night, and made an assignment. The liabilities are put at abont $700,000. The assets cannot be stated, but the president of the bank thinks the depositors will be paid in full and that there will be something over for the stockholders. There is considerable excitement among depositors today, and there has been quite a crowd at the bank all morning, but it has been orderly. Depositors in some other savings banks felt some uneasiness, and there have been rumors of runs, etc., but none have yet occurred.


Article from Daily Globe, May 23, 1879

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Savings Bank Failure at St. Louis. ST. LOUIS, May 22.-The Broadway Savings bank closed its doors this morning, in accordance with a decision reached by the directors at a late hour last night, and made an assignment to John Dierberger. The principal reason for the suspension is said to be the withdrawal of about $100,000 of deposits since May 1st, but there are reports current that some of the directors of the bank have worked against the interests of the concern, which aided materially in bringing about the failure. Liabilities foot up about $700,000. The assets cannot be stated, but the president of the bank thinks depositors will be paid in full and then be something over for the stockholders. Considerable excitement existed among depositors to-day and there has been 8 erowd about the bank all the morning, but it has been orderly.


Article from The Daily Gazette, May 23, 1879

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Suspension of a Savings Bank. ST. LOUIS, May 22.-The Broadway Savings Bank closed its doors this morning, and made an assignment to John Dierborger. The principal reason for the suspension is said to be the withdraw al of about $100,000 of the deposits since May 1, but there are reports current that some of the directors of the bank have worked against the interests of the concern, which aided materially in bringing about the failure. The liabilities are put at about $700,000.


Article from Daily Globe, May 26, 1879

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SUSPECTED BANK CASHIER. A Defalcation of $200,000 Charged Against Cashier Krieger of the Broken St. Louis Savings Bank. [Special Telegram to the Globe.| ST. LOUIS, May 25.-Howard Houghton, one of the victimized patrons of the Broadway Savings Bank, swore out a warrant at a late hour yesterday for the arrest of Phil. Krieger, Jr., cashier of the institution. Deputy marshals have been scouring the city, but have not been able to get on the track of the man. His family say he left home at 8 o'clock telling them he was going down town. Krieger has been rendered almost demented by the bank troubles and it was learned that his friends had had him confined for some days in a private mad house within the past month. One theory to account for his absence is that he has fled from the city. Another, and that which his friends most fear, is that he has committed suicide. The warrant charges him with embezzling funds of the bank to the amount of $200,000. The excitement among depositors continues intense and threats of life taking are freely made against the directors. The Kriegers are among the wealthiest and best known Germans of St. Louis. I Western Associated Press.] ST. LOUIS, May 25.-J. P. Kreiger, Jr., cashier of the suspended Broadway Savings' bank, for whose arrest for embezzling funds of the bank a warrant was issued yesterday, is not found yet. Kreiger is charged with embezzling from $100,000 to' $250,000 of the bank's money. His arrest was ordered by the directors of the bank, not by the depositors as previously stated.


Article from The Cincinnati Daily Star, May 26, 1879

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judged insane, and placed in a Pittsburg insane asylum. Irwin Roberts, brakeman. was killed by cars at Ft. Wayne, Ind. John Miller, aged forty, committed suicide at Round Grove, Ind. President Grevy has signed pardons for four hundred Communists. Mr. Taylor's residence was destroyed by lightning at Lareville, Ind. Dye and Anderson will be hanged at Sacramento, Cal., next Thursday. Thomas Coleman was fatally injured in a street fight at Terre Haute, Ind. Mary Miller, aged seven years, was fatally gored by a cow at Ft. Wayne. Ind. John Detineller's barn, worth $3,000, was destroyed by lightning at Richwood, O. At Barnesville Saturday the saw-mill of Edgar Hogue & Co. was destroyed by fire. Carlos Betts, aged eleven, accidentally shot and killed himself at Mt. Clemens, Mich. The little propeller Ramos capsized in Calcasien River, La., drowning six persons, Saturday. One white and five colored prisoners were publicly whipped Saturday at New Castle, Delaware. De Cassagnac, the notorious French duelist, has challenged one Goblet for words spoken in debate Saturday. J. Pnil. Kreiger, cashier of the suspended Broadway Savings Bank of St. Louis, has been arrested at the instance of one of the depositors, charged with embezzlement. At Des Moines, Iowa, Saturday, a little child of H. L. Skinner fell into a cistern beneath the floor, momentarily left open. Its mother plunged in to save it and both disappeared, the water being eight or ten 0 feet deep. She soon came up with the little one in her arms. At Kewaskum, Wisconsin, Friday, a farmer named Nicholas Altenhafer beat the S brains out of a six weeks' old infant by d knocking its head against the wall and cutting the scalp open with a picture-frame. d He then carried the dead infant two miles n to a priest, and acknowledged his crime. y At Monroeville, Ohio, Saturday evening, d Cahan Maloney shot and killed Bridget d Murphy for refusing to marry him, and then fired twice at D. W. Crane, a telegraph in operator who was assisting in his arrest. 0 Maloney continued firing at the crowd, when Crane drew a pistol and shot Maloney go dead. e


Article from The Cheyenne Daily Leader, May 27, 1879

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Another Rascal Unearthed. St. Louis, Mo., May 26.-J. P. Krieger, cashier of the suspended Broadway savings bank, for whom a warrant was issued Saturday, gave himself up this morning and was put in jail pending the procurement of bonds. Mr. Dierberger, assignee of the bank, has discovered in a private drawer of Krieger, checks, drafts. etc., which conclusively shows that Krieger and Meyer A. Goldsoll have been privately connected in the use of funds of the bank, and that Goldsoll is indebted to the bank in the sum of about $300,000, the recovery of which is very doubtful.


Article from The Cheyenne Daily Leader, May 27, 1879

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A Missouri Embezzler. St. Louis, May 26.-J. P. Kreiger, jr., cashier of the suspended Broadway savings bank, for whose arrest for embezzling the funds of the bank a warrant was issued yesterday, has not been found yet. Kreiger is charged with embezzling from $100,000 to $250,000 of the bank's money. His arrest was ordered by the directors of the bank, not by the depositors, as previously stated.


Article from The New Orleans Daily Democrat, June 1, 1879

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Assignee of the St. Louis Broadway Savings Bank. ST. LOUIS, May 31.-Dierberger was appointed assignee of the Broadway Savings Bank immediately after its suspension, but was objected to by the depositors of the bank and resigned the position to-day, and Phillip Stock was appointed in his place. A


Article from Daily Press and Dakotaian, June 4, 1879

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TELEGRAPHIC BREVITIES. OBITUARY. New York, June 4.-James Orton Woodruff, projector of Woodruff's scientific expedition died this morning of brain discane. RECEIVER APPOINTED. St. Louis, June 3.-The person who was appointed by the circuit court n few days ago assignee of the Broadway Savings bank, having failed to qualify within the preper time. Judge Boyle has appointed J. M. Franciscus, for many years connected with the banking house of Haskel & Co., to all the position. Mr. Francicus gave bond as once for half a million and will take charge of the affairs of the defunct bank imme. dintely.


Article from Wheeling Register, June 4, 1879

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CREAM OF THE NEWS. Gathered from our Dispatches. Bismarck wishes to establish quadronnial for triennial meetings of Parliament. A fire in the Woburn, Mass., chemical works, last night, caused a loss of $70,000. It was insured. A. W. Weeks, book-keeper for the company fell into a pool of vitriol and was fatally burned. Séveral others were burned with the vitriol. The St. Louis Board of Public Schools has brought suit against the securities of J. P. Krieger, Jr., late cashier of the Broadway Savings Bank, who was also Treasurer of the school board, to recover $72,000 school funds in his hands and deposited in the Broadway Savings Bank W hen that concern suspended. Baron Lionell, Nathan De Rothschilds, chief partner in the banking firm of Rothschild & Co., London, is dead. Subscriptions to the four per cent refunding certificates since yesterday's report $1,133,420.


Article from The Leavenworth Weekly Times, June 5, 1879

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-The board of public schools of St. Louis has brought suit against the sureties of J. P. Krieger, jr., late cashier of the Broadway Savings bank, who was also treasurer of the school board, to recover $72,000 of the school funds in his hands and deposited in the Broadway Savings bank when that concern suspended.


Article from Evening Star, June 6, 1879

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SUIT FOR SCHOOL FUNDS.-The St. Louis school board has brought suit against the sureties of J. P. Krieger, jr., late cashier of the Broadway Savings Bank, for $72,000 school funds deposited in the bank before its suspension.


Article from Lexington Weekly Intelligencer, June 7, 1879

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The United Statés Savings Bank, of St. Louis closed its doors last Monday. The failure of the Broadway Savings Bank,a few days previously, had caused a run to be made upon this bank, with the above result.


Article from Memphis Daily Appeal, June 17, 1879

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Assets of the St. Louis Broadway Bank ST. LOUIS, June 16.-J. M. Franciscus, assignee ot the suspended Broadway savings bank, filed in the circuit court this afternoon the schedule of the assets of that institution. They amount to a trifle over eight hundred thousand dollars, face value. The indebtedness of Mayer Goldsoll to the bank is stated to be three hundred and sixty-two thousand five hundred dollars.


Article from Gold Hill Daily News, July 31, 1879

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today while endeavoring to recover an anchor at the battery, the air tube having burst. Sr. LOUIS, Mo., July 31. - J. P. Krieger, Senior President of the defunct Broadway Savings Bank, has been arrested on a charge of embezzlement, in connection with the alleged frauds committed by officers of that institution. He gave bonds and was released. INDIANAPOLIS, July 31.-A shooting affray occurred at a farm, the residence of Lucas Covert, near Columbus, Indiana, at the breakfast table yesterday morning, between his sons Henry and Aleck, in which Henry was instantly killed and Aleck mortally wounded. HARRISBURG, July 31.-The Governor has pardoned Dennis F. Canning. of Schuylkill, convicted of conspiring to commit murder several years ago, in conjunction with Jack Kehoe and other Mollie Maguires. Canning was sentenoed to 14 years' imprisonment. BROCKVILLE, July 31.-Miss Hugel, aged eighteen, and sister, aged five, were drowned in the St. Lawrence, while bathing. Martin, Republican member of the House from North Carolina, says the Sherman boom is gaining in that State, and he thinks Sherman would have a stronger delegation to the National Convention than Grant. Judge Isanc C. Collins, a prominent lawyer of Cincinnati, died on the 29th of heart disease. At East Farrington, Wisconsin, on the 19th, John Kranz, a farmer, drove into a lake to water his horses, and the animals becoming frightened, ran into deep water, upsetting the wagon and drowning Kranz and five children. The sixth swam out. The eldest was a girl, seventeen years old. The Exchange Bank of St. Louis has gone into liquidation. All depositors will be paid in full. The eighteenth annual session of the National Educational Association commenced at Philadelphia on Tuesday. The Chicago Jockey Club announces two running meetings for next year, one in July and one in August.