10799. Night & Day Bank (St Louis, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 29, 1925
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
4e6d07ac

Response Measures

None

Description

Articles describe the Night & Day Bank as already defunct and discuss embezzlement by Donald W. Ross and legislative debate over reimbursing depositors. No run or depositor run is reported; the bank had failed/closed (permanently). Date of failure not specified in these clippings; articles from Jan and Mar 1925 refer to the bank as defunct and to criminal actions.

Events (2)

1. January 29, 1925 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Defalcation/embezzlement by Donald W. Ross (deputy state finance commissioner) leading to the bank's failure/defunct status.
Newspaper Excerpt
the assets the defunct Night and Day Bank Louis, who ordered to Jall Judge Anthony Ittof the Louis circuit court.
Source
newspapers
2. March 27, 1925 Other
Newspaper Excerpt
an amendment providing for an appropriation ... for the reimbursement of the depositors and stockholders of the defunct Night and Day Bank of St. Louis, funds stolen by one Donald Ross.
Source
newspapers

Newspaper Articles (2)

Article from Skidmore News, January 29, 1925

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Article Text

Many Measures Are Being Prepared Both Houses for Introduction. After nearly two weeks being taken selection mittees and settlement of the troubleproblem of taking the applicants clerkships, doorkeepers other the Senate and House Legislature turned to business and began bills the first eleccontest was filed in the House, James Republican, Greene filing proceedings unseat Warren, Democrat, Representative from the Second District Greene County. The contest was filed through David Peters of Cole County, Republican floor leader. Warren was elected over Glass by majority than Glass contestthe ground that Warren Ineligible candidate because he state county for the preceding his election. Republicans are decidedly the majority Elections Committee, with memberships out of Should the Democrats ousted from seats, Republican membership House would increased and the Democratic reduced to Includamong the great number of bills being drafted for early Introduction in the House Senate the following measures: enable to enact zoning laws through their own legislative bodies. Amending the St. Louis County law governing registration voters, correct omissions and enable registration of absentees. Providing for completion of the 1,500-mile primary system of state before any contracts are let for additional construction on secondary road construction. Establishing police force In Louis County and abolishing special deputy sheriff jobs now authorized law. Strengthening the banking !aws, placing greater safeguards around bank deposits and creasing the penalties for embezzlement bank funds. Seeking to check or solicitation damage for prosecution of offenders. workmen's compensation act, patterned aftthe act passed in 1921, which referendum to the people. Establishing an Intermediate reformatory for young men, graded between reformatory and the penitentiary. Taxing domestic Insurance companies of the state on capital stock surplus. circuit judges discretionary power to refuse bond defendants, convicted criminal on charges, pending appeal to the Supreme Court. Amendment of the state Income tax laws to place administration the Income tax under the State Tax Commission, and give the mission's agents authority to inspect Income returns. To require property subject taxes to be assessed value on January of each Instead of June at present, and that taxes be levied and collected the year the assessment is máde, instead of the following year, as under the present That of property gas companies, water companies, heating plants and similar utilities, now sessed locally, be returned for ment to the Tax Commission. RequirIng drivers of motor vehicles to licenses, and to undergo mental and physical tests to their qualifications to drive motor vehicle. Establishing state highway patrol, with police power, regular traffic and enforce the road laws on all state highIng the state "bone-dry" law, to make mandatory Jall or prison sentences for certain infractions. Establishing counwelfare agencies in each county. Community high school designed give children In rural districts the vantages of high school. Creation of budget system for the state. There will be another road contract let State Highway Engineer Piepmeier January 31, announced his office Jefferson City. The contracts be will cover 24 located in projects. counties, and small bridges. Classified. bids will be total of 21.861 miles of concrete roadway, miles gravel construction, and 25.289 miles of graded earth, the total mileage of highway construction called for under the letting being temporary writ of habeas corpus Issued City by Justice Graves of the Supreme Court bane admits bond in the sum of $5,000 Donald W. Ross, former state deputy finance commissioner in charge the assets the defunct Night and Day Bank Louis, who ordered to Jall Judge Anthony Ittof the Louis circuit court. Chief Justice Graves conditioned the bond for Ross upon the approval of Circuit Judge Taylor. The Priests of Pallas, an annual fall festival, traditional in Kansas City, ceased exist when the directors votdissolve the company organized for its presentation. The post office at Woodlandville, small Inland town ten miles northwest Colambia, was robbed of $92.28. All of the money in the money taken. but the stamp drawer was not molested. debating has been organized the Richmond High School and will soon arrange schedule of debates other schools Former Judge H. Baskett fell the slippery ice at Elsberry, breakshoulder and wrist. His age makes his recovery doubtful. The establishment state patrol force. with police for the regulation of curbspeeding and enforcement against overloading of motor trucks favored by the State Department, and bill to estabsuch patrol probably will be troduced in the legislautre during the present session. The patrol should be the control of the State Highway Commission, State Highway Engineer Piepmeier and police powers limited to supervision over all state roads outside the corporate limits of In placing such sysoperation, not more than would be needed at the outset, said, to patrol the roads the larger of the state. The number could be increased as more high type roads are completed in the state highway system. Such patrol would save the state many times the cost of the patrol by the present law fixing maximum weight of 14 tons for motor truck load, Piepmeter said. Overloadtrucks results in breaking down surface and foundation the Plepmeter continued, and comthe state to expend thousands dollars for repairs and maintenance, addition to expenditure required for average maintenance. The present law considheavy by the department, which favors or ton maximum, no definite maximum weight has been adopted for proposed amendments being drafted by the torneys in the department. Some of the state employes have collected that exceed their annual salaries, the says islative auditing committee appointed former Governor Hyde, in its report submitted to the House and the Senate. believe that there has been manifest in the last few years desire employes to cut down living in travel," the report comments. suggests that maximum daily traveling expense be fixed to check this thrifty tendency. The report further observes that in the automobile registration department state employes fees from the public as notaries. good practice," the report permit salaried employes of state to look around in their places employment for opportunities make money on the side, even though, in this case, the same fairly done, openly and above board." Clerical rors are blamed for difference in the revenue fund account dating back to for which the committee cannot account, difference of $127.11 between the auditor's voucher jackets and the warrants. At the request of Governor Baker, the Senate Jefferson City voted return all the vacation appointments submitted Governor before he retired from office, and also those that he failed to send in, which requested by the Secretary of State. When the Senate convened January 15 Governor Baker sent communication in which he "respectfully requested" that the appointments returned. motion offered by Senator Frank H. Farris, Democratic floor leader, that the Governor's quest be complied with, was carried without opposition. "This will afford opportunity for consideration the appointments," Governor Baker said, "and chance to confer with members of the Senate and others regarding the qualifications of such ap pointees." Embezzlement indictments were dismissed in circuit court at Lamar against Thomas Egger and his daughAnna, in connection with the fail. ure of Egger's private bank. which closed last May after 43 years' operation. Judge Thurman ruled, after argument, that there was nothing in Missouri law that would hold private banker guilty of embezzlement. As law stands, he held, whatever money the private banker has is his own, in the same that the money borrows is his own. On the suggestion of Judge Frey of the criminal division of the circuit court of St. Louis, Otto Jefferson City will in the future supply proper form for instruction in the trial of criminal cases, when asked to do so by the prosecuting torney, or circuit as the case may In his letter to the Attorney General, Judge Frey said that, having recently been transferred from civil criminal division his court, he therefore, interested in the forms for proper instruction, and that had not had the time nor opportunity to in touch with the rulings of the Supreme Court in several important cases. delegation of prominent Fulton went to recently the first ride on the new electric car that has been placed service the Fulton division of the Chicago and Alton Railroad between Mexico and Jefferson City and take the place one of the steam trains. Another large delegation met the car the Fulton station, the ception being similar to the old days when the pioneers welcomed the first train. Bert Jackson, 19 years old, burned to death at Rolla in fire that destroyed the home of Mrs. Annie Adms. Two sons, Frank and James, daughters of Mrs. Adams were severely burned. One daughter, Sarah, her hair nearly burned head. Jackson roomer. An increase the capital stock from $500,000 to $1,000,000 nounced at meeting the board directors the Sedalla Savings Loan Association. The association eleven years old and has never had loss or foreclosure.


Article from The St. Joseph Observer, March 27, 1925

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Article Text

ROB THE TAXPAYERS A STEALAGE A Dishonest Scheme Is Defeated By Hot Fight Up By the Democrats Who Resented the Plot Exposed to Repay the Money Stolen By Donald JEFFERSON March of the warmdebates of the present session legislature came suddenly when, Representative Davidson, republican, Louis, offered an amendment providing for an appropriation from the general revenue fund of for the reimbursement of the depositors and stockholders of the defunct Night and Day Bank of St. Louis, funds stolen by one Donald Ross. deputy state finance commissioner. Immediately upon the reading of the amendment, democratic members launched bitter attack on what they deemed unjust expenditure of the people's money to cover up the dishonesty of state official." Dave Peters. republican floor leadled the fight for the appropriation. basing his argument on the fact that the supreme court of Missouri had held valid the payment of sum of money by the state to the stockholders and depositors of the Holland Banking Company of Springfield. Went Down In Merited Defeat Representative Lon Haymes, of Springfield, explained that the payment of the funds to the Green couninstitution was obligatory on the state, Inasmuch as the failing condition of the bank was known to the state officials at least eight months before the final collapse of the bank. During this time, the board of fund commissioners, composed of Attorney General Barrett and State Treasurer Thompson, refused to withdraw or protect the several hundreds of thousands of dollars of state money in the failing bank. The defalcation on the part of on the other the deliberate thievery state deputy finance commissionunexpected and unheralded, rather than an act of unwarranted and of duty on the part of several state officials who had been apprised of the impending disaster. The amendment went down under the caustic fire of attack from the democratic side of the chamber. despite the sturdy defense of floorleader Peters his cohorts. Moved To His Home Bank Approximately $160,000 of the personal savings of despositors and sources of stockholders of defunct Missouri banks has been moved from all sections of the state and deposited in the Canton Trust Company at Canton. Missouri, the personal, "hometown" bank of Finance Commissioner Frank C. Millspaugh, It was shown