11225. Aetna Bank (Butte, MT)

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Start Date: October 19, 1906
Location: Butte, Montana (46.004, -112.535)

Metadata

Model: gpt-5-mini
Short Digest: ae3ff917

Response Measures

None

Description

The Aetna Bank in Butte was closed by order of the Acting Comptroller of the Currency in October 1906 (no run is described; closure was government-ordered). A receiver (Wilson) was appointed and the bank is repeatedly described as 'wrecked' and 'defunct' with receiver actions and later litigation (1906 receiver receipts; 1908 suit). OCR names referencing related Aetna Savings and Trust/Aetna Banking and Trust indicate connected institutions, but the closure was by the Comptroller, implying a national bank.

Events (3)

1. October 19, 1906 Suspension

Cause: Government Action
Cause Details: Closed by order of the acting Comptroller of the Currency (official closure by federal regulator).
Newspaper Excerpt: Aetna bank, which closed its doors yesterday under orders of the acting comptroller of the currency
Source: newspapers

2. December 1, 1906 Receivership

Newspaper Excerpt: Receiver Wilson of the wrecked Aetna bank of Butte today announced that he had received a check from Augustus Heinze for $100,000.
Source: newspapers

3. February 4, 1908 Other

Newspaper Excerpt: Judge Lynch ... directed to bring suit against F. Augustus Heinze ... receiver in charge of the Aetna Bank, which failed in October, 1906, is directed to bring suit ... for $97,000
Source: newspapers

Newspaper Articles (7)

1. October 21, 1906 The Salt Lake Tribune Salt Lake City, UT

Article from The Salt Lake Tribune, October 21, 1906

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Article Text

WARRANT NOT SERVED Cashier of Aetna Bank Refunds Money to His Late Depositors. BUTTE, Mont., Oct. 20 -A warrant for the arrest of F. E. Garside, cashier of the Aetna bank, which closed its doors yesterday under orders of the acting comptroller of the currency, was issued this afternood on the instance of a lady depositor who had deposited ten dollars in the defunct institution shortly before it closed. The warrant was not served. however, as the lady, with all others who had deposited money with the Aetna yesterday, were refunded their money. Cashier Garside showed to the officers that the depositors of yesterday had not been entered on the books of the bank, but were placed in envelopes and deposited in the vaults, as though they were aware of the straightened condition of the bank, and official orders closing the Butte institution had not yet been received from Washington. Rather than precipitate a run, and excite the people it was decided by Cashier Garside to accept deposits and lay them aside for the depositors, as was done. The closing of the bank hardly caused a ripple of excitement in the city, business conditions remaining as usual.

2. October 21, 1906 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, October 21, 1906

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Article Text

TROUBLES OF BUTTE BANK Warrant Issued for Cashier Garside of the Aetna, Which Was Not Served. Butte, Mont., Oct. 20.-A warrant for the arrest of F. E. Garside, cashier of the Aetna bank, which closed its doors yesterday under orders of the acting comptroller of the currency, was issued this afternoon on the instance of a lady depositor, who had deposited $10 in the defunct institution shortly before it closed. The warrant was not served, however, as the lady. with all others who had deposited money with the Aetna yesterday, were refunded their money. Cashier Garside showed to the officers that the deposits of yesterday had not been entered on the books of the bank, but were placed in envelopes and deposited in the vaults, as though they were aware of the straightened condition of the bank, and official orders closing the Butte institution had not yet been received from Washington. Rather than precipitate a run, and excite the people it was decided by Cashier Garside to accept deposits and lay them aside for the depositors, as was done. The closing of the Aetna hardly caused a ripple of excitement in the city, business conditions remaining as usual.

3. December 1, 1906 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, December 1, 1906

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Article Text

Heinze Helps. Butte, Mont., Dec. 1.-Receiver Wilson of the wrecked Aetna bank of Butte today announced that he had received a check from Augustus Heinze for $100,000. Heinze formerly was president of the bank but withdrew in 1903. Believing, however, that many depositors had not known of his withdrawal, although it was widely advertised at the time, and that through confidence in his reputation many of his friends may have lost their money, Heinze says in his letter to Wilson, he contributes $100,000 toward the bank's assets and forwards his check for that amount. The contribution should increase the bank's assets 30 per cent.

4. December 1, 1906 The Times Dispatch Richmond, VA

Article from The Times Dispatch, December 1, 1906

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Article Text

AUGUSTUS HEINZE SENDS CHECK TO HELP BANK [Special to The Times-Dispatch.] BUTTE, MONT., November 30.-Receiver Wilson, of the Aetna Bank, of Butte, to-day said that he had received a check from F. Augustus Heinza for $100,000. Mr. Heinze formerly was president of the bank. but withdrew in 1903. Believing, however, that many depositors had not known of his withdrawal, although it was widely advertised at the time, and that through confidence in his reputation many of his friends may have lost their money, Mr. Heinze says in whis letter to Mr. Wilson that he contributes $100,000 towards the bank's assets. The contribution increases the bank's assets 30 per cent.

5. December 3, 1906 The Madison Daily Leader Madison, SD

Article from The Madison Daily Leader, December 3, 1906

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Article Text

HEINZE'S GENEROSITY. Donates $100,000 to Depositors of Defunct Bank. Butte, Mont., Dec. 3.-Receiver Wilson of the wrecked Aetna bank of Butte has announced that he received a check from Augustus Heinze for $100,000. Mr. Heinze formerly was president of the bank, but withdrew in 1903. Believing, however, that many depositors had not known of his withdrawal, although it was widely advertised at the time, and that through confidence in his reputation many of his friends may have lost their money, Mr. Heinze says in his letter to Mr. Wilson he contributes $100,000 towards the bank's assets and forwards his check for that amount. The contribution should increase the bank's assets 50 per cent.

6. December 7, 1906 Little Falls Herald Little Falls, MN

Article from Little Falls Herald, December 7, 1906

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Article Text

HEINZE'S GENEROSITY. Donates $100,000 to Depositors of Defunct Bank. Butte, Mont., Dec. 1.-Receiver Wilson of the wrecked Aetna bank of Butte has announced that he received a check from Augustus Heinze for $100,000. Mr. Heinze formerly was president of the bank, but withdrew in 1903. Believing, however, that many depositors had not known of his withdrawal, although it was widely advertised at the time, and that through confidence in his reputation many of his friends may have lost their money, Mr. Heinze says in his letter to Mr. Wilson he contributes $100,000 towards the bank's assets and forwards his check for that amount. The contribution should increase the bank's assets 50 per cent.

7. February 5, 1908 Tonopah Daily Bonanza Tonopah, NV

Article from Tonopah Daily Bonanza, February 5, 1908

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Article Text

SUIT AGAINST HEINZE ORDERED BUTTE, Mont., Feb. 4.-By an order signed by Judge Lynch of the State District Court this morning, Robert M. Lyons, receiver in charge of the Aetna Bank, which failed in October, 1906, is directed to bring suit against F. Augustus Heinze, former director,, and A. B. Clements, former treasurer, for $97,000, held by Heinze in the bank, and which, it has developed, Heinze never paid for. In the recent trial of Clements for false certification, it developed that of the $100,000 worth of capital stock owned by Heinze, only $2500 of this was paid in, and that Clements took it himself and gave his note for it, shortly after the amount was received. Judge Lynch's order, authorizing suit for $97,000, directs that interest from the time of the issue of the stock was not paid for be included in the suit. The deal apepars to have been complicated. E. A. Heinze owned capital stock in the Aetna Savings and Trust Company, and when that went out of existence, deposits in lieu of cash this stock was exchanged for stock of the Aetna Banking and Trust Company, the concern now in the hands of a receiver.