11235. Aetna Banking and Trust company (Butte, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 8, 1908
Location
Butte, Montana (46.004, -112.535)

Metadata

Model
gpt-5-mini
Short Digest
9a5db930

Response Measures

None

Description

Articles describe the Aetna Banking and Trust Company as having failed ~1.5 years before Feb 1908 with a receiver in place; multiple articles report receiver actions (lawsuits) to recover funds. No run or depositor panic is described. Cause for suspension/closure is bank-specific insolvency/misconduct (claims against former officers).

Events (3)

1. February 8, 1908 Receivership
Newspaper Excerpt
BUTTE, Mont., Feb. 8.-Robert Lyons, receiver of the Aetna Banking and Trust company, was directed by Judge Lynch of the district court to institute suit against ... Augustus Heinze ... and A. B. Clements ... for $97,000, the amount of stock subscriptions that were not paid for in cash.
Source
newspapers
2. May 8, 1908 Other
Newspaper Excerpt
A suit to recover approximately $180,000 from F. Augustus Heinze and A. B. Clements was begun ... by Robert Lyons, receiver of the Aetna Banking and Trust company of Butte, Mont.
Source
newspapers
3. * Other
Newspaper Excerpt
The Aetna Banking company failed a year and a half ago and depositors lost $600,000. but about 20 per cent in dividends has been paid by the receiver.
Source
newspapers

Newspaper Articles (4)

Article from The White Pine News, February 9, 1908

Click image to open full size in new tab

Article Text

RECEIVER MUST SUE HEINZE. Montana Court Orders Action to Recover Aetna Bank Subscription. BUTTE, Mont., Feb. 8.-Robert Lyons, receiver of the Aetna Banking and Trust company, was directed by Judge Lynch of the district court to institute suit against ⑇ Augustus Heinze, former president of the Aetna, and A. B. Clements, cashier, for $97,000, the amount of stock subscriptions that were not paid for in cash. The receiver says Heinze and Clements, when the bank was organized. put up their personal notes for the total bank stock, $100,000, and later exchanged for the notes $2,500 in cash and stock in a building and loan concern, known as the Aetna Savings and Trust company, not now in existence. The Aetna Banking company failed a year and a half ago and depositors lost $600,000. but about 20 per cent in dividends has been paid by the receiver.


Article from Deseret Evening News, May 9, 1908

Click image to open full size in new tab

Article Text

HEINZE SUED BY RECEIVER OF AETNA BANK & TRUST CO New York, May 8.-A. suit to recover approximately $180,000 from F. Augustus Heinze and A. B. Clements was begun in the supreme court here today by Robert Lyons, receiver of the Aetna Banking and Trust company of Butte, Mont. Heinze formerly was president and Clements manager of the institution. They are asked to account for $100,000 worth of stock, a credit of $37,770 and for another amount of $43,000. It is stated in the complaint that in November, 1906, Heinze paid $100,000 to E. T. Wilson, acting receiver of the bank, for the benefit of its creditors. This $100,000. according to the complaint, was distributed among the creditors of the bank, reducing its liability to that extent. The receiver now asks the court that, if this application of the $100,000 was proper, Heinze and Clements be required to account for stock of the bank having a face value of $100,000. They also are asked to account for alleged loss and damages to the company which, it is charged, were due to their negligence, unlawful acts, misconduct and fraud.


Article from Arizona Republican, May 9, 1908

Click image to open full size in new tab

Article Text

SUIT AGAINST HEINZE Receiver of a Montana Bank Wants an Accounting. New York, May 8.-A suit to recover approximately $180,000 from F. Augustus Heinze and A. B. Clements was begun in the supreme court here today by Robert Lyons, receiver of the Aetna Banking and Trust company of Butte, Mont. Heinze was formerly president and Clements was manager of that institution. They are asked to account for $100,000 worth of stock, a credit for $37,770. and another of the amount of $43,000. It is stated in the complaint that in November, 1906 Heinze paid $100,000 to E. T. Wilson acting receiver of the creditors. This $100,000 according to the complaint was distributed among the creditors of the bank, reducing its liability to that extent. The receiver now asks in court if this application


Article from Camas Prairie Chronicle, May 15, 1908

Click image to open full size in new tab

Article Text

MONTANA NOTES. W. G. Conrad, multimillionaire banker, mine owner and rancher, who is an avowed candidate for the vice presidential nomination on the democratic ticket, has opened headquarters, and Warner G. Stensel of New York has been engaged to manage his campaign. Edward Brennan, lawyer, of Butte, who was arrested last week in New York city on a charge of attempting to extort $40,000 from F. Augustus Heinze in connection with the matter of the Aetna Bank and Trust company of Butte, waived examination in police court, gave bond and was released. Surprised in his retreat at the Bonnabel ranch, in Valley county, Montana, "Pigeon-Toed Kid," a notorious cattle rustler and one of the few remaining bad men of Montana, attempted to make a stand against a sheriff's posse recently when asked to surrender, and was killed by a deputy named Calderwood. The bullet passed completely through his body and struck John Maybelle, a herder, in the shoulder. It is learned through the report of Dr. M. E. Knowles, state health officer, that there are between 50 and 60 cases of smallpox at Havre. All the schools, theaters and other public meeting places have been closed. The state boar dis considering the advisability of quarantining the town. Howard Elliott, president of the Northern Pacific, who was a Helena visitor for two days last week, said that his company would throw open immediately 200,000 acres of land near Glendive and in the near future 500,000 acres near Billings. The company will endeavor to bring in only actual settlers, the deeds being conditioned on residence. Sheriff Edward Martin and Deputy Sheriff Al Morgan, now in the field after the notorious halfbreed outlaw, Mosney, are uninjured and have the desperado cornered in a cave near Arrow creek. A suit to recover approxximately $180,000 from F. Augustus Heinze and associate, A. B. Clements, was begun in the supreme court, New York, recently, by Robert Lyons, receiver of the Aetna Banking and Trust company of Butte, Mont. They are asked to account for $100,000 worth of stock, a credit of $37,770 and for another amount of $43,000. The odd spectacle of a pedler endeavoring to sell Bibles, two for 25 cents, and finally entering several saloons, where he tried in vain to trade a Bible for a flask of booze, led to the arrest of William Pitts recently in Butte.