11233. Aetna Banking and Trust Company (Butte, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 1, 1906*
Location
Butte, Montana (46.004, -112.535)

Metadata

Model
gpt-5-mini
Short Digest
474b7ecf

Response Measures

None

Description

Newspaper articles state the Aetna Banking and Trust Company suspended business in August 1906 and a receiver (Robert Lyons) is handling recovery actions by 1911. No article describes a depositor run; the suspension and subsequent receivership point to permanent closure due to alleged fraud/insolvency.

Events (3)

1. August 1, 1906* Receivership
Newspaper Excerpt
Robert Lyons, as receiver of the Aetna Banking and Trust company, seeks to recover $250,000 ... and later articles reference receiver Robert Lyons bringing suit in 1911.
Source
newspapers
2. August 1, 1906* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent through fraudulent practices; assets only about 8% of liabilities (liabilities ~$400,000).
Newspaper Excerpt
Business was suspended in August, 1906.
Source
newspapers
3. December 28, 1911 Other
Newspaper Excerpt
An amended complaint was filed today in the district court in the suit of Robert Lyons, receiver. Alleging that F. Augustus Heinze ... secured possession of the bulk of its assets and that the bank was insolvent through fraudulent practices.
Source
newspapers

Newspaper Articles (2)

Article from The Yale Expositor, August 24, 1911

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Article Text

A pistol fight to the death occurred near Goat Rock, Ga. The combatants were Sam Gordon, a white man, and George Caldwell, a negro. The two bodies were found near each other about dusk. Edward Cannessa, a well-to-do Italian, is dead at his Brooklyn home as a result of his efforts to act as peacemaker between two of his friends who fired revolvers on each other in a quarrel over the hand of his daughter. Lewis W. Hoyell, manager of the Toledo Metal Wheel company of Toledo, O., arrived in New York to attend a convention. He had scarcely set foot on the soil of the metropolis when he was robbed of his pocketbok. A solitaire diamond ring, valued at $300 was taken from him a few minutes later. Daughters of the American Revolution gave a reception and dinner on the steamship George Washington in New York in honor of Congressman Richard Bartholdt of Missouri, who sailed in charge of a statue of Baron Von Steuben, which congress will present to the German government. After three years' exile among strangers in Caracas, Venezuela, two Syrian children, Susan and Lucien Lulu, are detained at Ellis Island, New York, prevented by the immigration officials from carrying out their plan to join their parents at Smithton, Pa. Their eyes show symptoms of trachoma. New York state and the middle west have a bumper apple crop this year for export shipments, according to the bulletin of the Boston chamber of commerce. The far west, Virginia and New England have fallen off somewhat, but New York and the middle west bring this year's average up to half as large again as last year. Seven thousand people, representing 44 states, have registered for free homesteads in the Berthold Indian reservation in North Dakota. Of this number 4,412 registered at Minot, the government headquarters. Papers were filed in the district court at Butte in a sensational suit against F. Augustus Heinze, in which Robert Lyons, as receiver of the Aetna Banking and Trust company, seeks to recover $250,000 alleged to have been obtained illegally by Heinze. Andrew O'Hearn and Frank Ellis of Chicago, employed at the Rochelle tanning factory, went to sleep on the Chicago & Northwestern railroad tracks at Rochelle, Ill., and were killed by a fast train.


Article from Daily Capital Journal, December 28, 1911

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Article Text

NOT THE HEINZE WHO DISCOVERED PICKLES (UNITED PRESS LEARED WIRE.1 Butte, Mont., Dec. 28.-Alleging that F. Augustus Heinze, founder and chief officer of the defunct Aetna Banking and Trust company, secured possession of the bulk of its assets and that the bank was insolvent through fraudulnt practices, an amended complaint was filed today in the district court in the suit of Robert Lyons, receiver. Business was suspended in August, 1906. The assets of the company at that time, it is stated, did not exceed eight per cent of the liabilities, which totaled $400,000. Judgment is asked for $300,000, $100,000 having been