11247. State Savings Bank (Butte, MT)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
savings bank
Start Date
October 17, 1907
Location
Butte, Montana (46.004, -112.535)

Metadata

Model
gpt-5-mini
Short Digest
053ab16e

Response Measures

Borrowed from banks or large institutions, Capital injected, Partial suspension, Books examined

Description

Contemporary articles report a run precipitated by news of the suspension/failure of Otto Heinze & Co. (and related foreign/brokerage failures), after which the State Savings Bank availed itself of the 30-day privilege and suspended in mid-October 1907. The bank remained under examiner/court supervision through winter, with court-ordered deposits, loans, and an approved $200,000 loan facilitating resumption. The bank reopened Feb 15, 1908. I classify the immediate trigger as information about other financial failures (runs driven by news about affiliated brokerage and foreign bank failures), labeled here as 'local_banks'.

Events (5)
1. October 17, 1907 Run
Cause
Local Banks
Cause Details
Stories/reports of suspension/failure of Otto Heinze & Co. (and reports of failure in Hamburg) tied to F. Augustus Heinze precipitated heavy withdrawals.
Measures
Management posted notice citing unsettled rumors and shortage of currency; bank availed itself of the 30-day privilege (suspended payments).
Newspaper Excerpt
a run started today on the State Savings Bank ... because of the suspension of what are known as the Heinze brokerage firms in New York
Source
newspapers
2. October 17, 1907 Suspension
Cause
Local Banks
Cause Details
Suspension enacted after run caused by reports about Heinze brokerage suspension/failures; declared solvent but closed for the time being to protect depositors and arrange affairs.
Newspaper Excerpt
the bank, availing itself of the thirty days privilege, closed its doors
Source
newspapers
3. December 28, 1907 Other
Newspaper Excerpt
Judge ... continued the matter of the receivership ... on condition that Heinze place $250,000 to the credit of the bank; Largey $75,000 or receiver to be appointed March 2 if not ready to resume by that date (decisions and court conditions during receivership proceedings).
Source
newspapers
4. January 24, 1908 Other
Newspaper Excerpt
loan of $200,000 by Edward Creighton Larget to the State Savings Bank to enable the institution to resume business; court approved loan to resume operations.
Source
newspapers
5. February 15, 1908 Reopening
Newspaper Excerpt
The State Savings Bank of Butte ... today resumed business. The petition for a receiver pending in the district court was dismissed. F. A. Heinze has retired from the board of directors.
Source
newspapers

Newspaper Articles (23)
1. October 17, 1907 The Roswell Daily Record Roswell, NM
Article from The Roswell Daily Record, October 17, 1907

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idency of the Mercantile National National Bank today, and Wm. B. Ridgely, comptroller of the currency, has been invited to accept the presidency of the bank. Causes Run on Montana Bank. Helena, Mont., Oct. 17.-A special from Butte states that because of the suspension of what are known as the Heinze brokerage firms in New York, a run started today on the State Savings Bank in which Heinze is a leading stockholder and director, and that the bank, availing itself of the 30-day privilege, closed its doors. None of the other banks, it is said, are affected. They experienced no runs. The deposits of the savings bank are in the neighborhood of $25,000 and the savings department about $125,000, the latter largely from working people of Butte. The state has about $75,000 of state funds in the bank. Early Effects in Wall Street. New York, Oct. 17.-Sentiment in Wall street today was divided between a feeling of relief that the situation created by United Copper manipulation had been cleared up and the feeling that the failure of the brok ers for Heinze might have an unfavcrable effect generally. That firm claims that its inability to meet obligations was due to the purchase of United Copper for Otto Heinze & Co., but not accepted by them. This has brought the name of Augustus Heinze into Wall street comment, although it is denied that he is interested in the firm of Otto Heinze & Co., Augustus Heinze, president of the United Copper Co., has peen a prominent figure in New York financial circles since the settlement has involved long drawn out litigation with Amalgamated Copper interests. It is understood that he received a large sum in cash as part settlement, and he soon afterwards became president of the Mercantile National Bank, one of the larg est financial institutions of the city. Late last night there were conferences on the situation, and afterwards it was rumored that Heinze agreed to resign the presidency of the bank today, and that he would be succeeded by Wm. B. Ridgely, comptroller of the currency. Ridgely, however, denied that he had accepted the presidency. Heinze said today that he was considering resigning the situation. The copper market has been unfavorable for some time, and today it was announced that following the policy of the Amagamated Company in restricting the output, the Clark and Phelps-Dodge interests and others have reduced their output 75 per cent. New York, Oct. 17.-Otto Heinze & Co. made the following statement at the opening of the Stock Exchange today: Augustus Heinze is no longer a member of the firm of Otto Heinze & Co. The firm feels itself perfectly solvent, and will pay all its just obligations in full. The firm, however, refuses to pay debts which it does not consider legal or just until proper ad judication of the matter has been made." "The troubles of the copper company," said Augustus Heinze, "are incidental, and were brought about differences between certain iterests. I have much to do at this time in bringing about a settlement of affairs, and there is nothing more I can say at this time."

2. October 17, 1907 The Seattle Star Seattle, WA
Article from The Seattle Star, October 17, 1907

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(By United Press.) BUTTE, Mont., Oct. 17.-The State Savings bank, in which the Heinzes are Interested, closed its doors today. A run had been precipitated because of stories receiv. ed over private wires that the firm of Otto Heinze & Co. of New York and a large German bank in Berlin had failed. These interests are closely identified with F. Augustus Heinze in his copper mining operations. Heinze is the largest stock. holder and a director in the State Savings bank, which has deposits of about $4,250,000. The following bulletin was posted: "Because of unsettled conditions and rumors that cannot be verified that may cause unusual demands by depositors, and owing to the shortage of currency and inability to secure additional currency Immediately to pay demands which may be made, the management has deemed it advisable in the interest of all the depositors to suspend for the time being. The bank is solvent." A large crowd is gathered in front of the bank, but considering the circumstances and conditions are quite undemonatrative, although there are occasional cries demanding revenge on Heinze and his institutions. The state of Montana is a depositor to the extent of $75,000, but is amply secured. Further than the notice, the bank officials will make no statement. None of the other banks are affect. ed. The deposits of the bank are in the vicinity of $3,250,000, and of the savings department about $1,250,000, the latter largely from the working people of Butte.

3. October 17, 1907 Evening Star Washington, DC
Article from Evening Star, October 17, 1907

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Run on a Butte Bank. HELENA, Mon., October 17.-A special from Butte says that because of the suspension of what are known as the Heinze brokerage firms in New York, a run was started today on the State Savings Bank, in which Heinze is the leading stockholder and a director, and that bank, availing itself of the thirty days privilege, closed its doors. None of the other banks, It is said, are affected. They experienced no runs. The tenosits of the bank are in the vicinity of $3,500,000, and of the savings department about $1,250,000. The latter largely from the working people of Butte. The state has about $75,000 of state funds in the bank.

4. October 18, 1907 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, October 18, 1907

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COPPER DROPS ONE MORE NOTCH SENSATIONS THICK IN FINANCIAL CIRCLES Failures Announced From Hamburg, Germany; Butte, Mont.; and Houston, Texas; Heinze Quits New York Bank [By Morning Journal Special Leased Wire.] New York, Oct. 17 1.-Sensations followed each other in rapid succession in the financial district today as the result of the collapse of the projected corner in United Copper and the suspension of a prominent brokerage firm yesterday. The firm of Otto Heinze & Co. was suspended on the stock exchange. F. Augustus Heinze, the Butte cop per magnate, resigned the presidency of the Mercantile National bank of New York. The Amalgamated Cop. per company, at its directors' meeting. cut its quarterly dividend from per cent to 1 per cent. The directors of the Boston and Montana Copper company declared a quarterly dividend of $6 in place of a former dividend of $12. The failure of Haller, Soehl & Co., prominent bankers of Hamburg. Germany, with liabilities that may reach $7,000,000. was announced. The State Savings bank of Butte, Mont., of which the Heinzes are the principal stockholders, suspended. As a result of these sensations the stock market was halting and irregular, but there was apparent feeling that the break of the attempted COP ner in United Copper had cleared the atmosphere somewhat, and the market rallied before the close The suspension of Otto Heinze & Co., of which firm Max M. Schultz is the stock exchange member was based on a complaint to the exchange made by Gross & Kleeberg, the stock exchange firm which failed yesterday. In communication to the president of the stock exchange this sm charged Otto Heinze & Co. with refusing to accept 3,211 shares of United Copper said to have been bought on order of the Heinze firm. This action, Gross & Kleeberg state, was responsible for their failure. Attorneys for this firm stated today that the amount owed to the firm by the Heinze firm aggregated $600,000. The Heinze firm announced that it is perfectly solvent and that all its legal obligations will be met. The attorneys say that the suspension by the stock exchange was accepted by the firm in order to give the latter an opportunity to sift its legal obligations from numerous claims which have been made against it which it is al. leged, they are not legally obliged to pay. The resignation of F. Augustus Heinze from the presidency of the Mercantile National bank, it is said. was decided on at a midnight meeting at the home of C. W. Morse, who is largely interested in the bank. It was announced this morning that Mr. Heinze at the same time gave out a statement in which he said that his resignation was due to the fact that he wished to devote all of his time to straightening out the business of his brother's firm. He stated positively that he had not disposed of his holdings in the bank, and that the control would remain where it had been, and that he would continue as a director William B. Ridgely, at present United States comptroller of the currency. has been tendered the office of president of the Mercantile National bank. but has not decided whether he will accept. The low price of refined copper, which dropped even lower today, and the disorganized condition of that metal in the market, is the reason given for the reduction of the dividends of the copper companies The announcement of the Amalgamated quarterly dividend of 1 per cent came as a surprise. The failure of the Hamburg firm and the Butte bank both followed closely on the news of the suspension of the Heinze firm on the stock exchange The Butte bank was largely controlled by the Heinze interests. F. Augustus Heinze's suspension from the stock exchange and the failure of the Hamburg firm precipitated a run which immediately caused the suspension of the bank In a statement is sued by the officials it was declared that the bank is perfectly solvent and that suspension is solely for the protection of depositors and of obtaining time to arrange the bank's affairs. A number of meetings were held today in the offices of Otto Heinze & Co., but no statement of any sort was given out. It is said that the claims against the firm growing principally out of the attempted corner in United

5. October 19, 1907 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, October 19, 1907

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EXAMINER IN CHARGE OF BUTTE BANK Depositors, Mostly Working People, Remain Optimistic Despite, Difficulties of Heinze Institution. By Morning Journal Special Leased Wire.] Helena, Mont., Oct. 18.-According to long distance telephone messages to the Associated Press from Butte, received tonight, there has been practically no developments in the State Savings bank situation there today. State Bank Examiner Collins today assumed charge of the situation, and after making a hurried inspection of the books announced that from the figures at hand, the bank is in a better condition than when it submitted its last quarterly report to him. The whole question, however, is said to depend upon the value of the collateral which the Institution holds on outstanding loans. The depositors, who principally are working men and women, were cheerful today over the outlook Examiner Collins is making a thorough investigation of the bank's books and willMater make a statement to the depositors. The Silver Bow National bank. which is also controlled by F. A Heinze, is said to be safe and will not be involved in the copper magnate's financial difficulties There was no sign of a run on this institution today. The officers of the State Savings bank tonight refused to make any statement. saying that the bank is now in the hands of the state examiner. and that any official statement given out must come from him.

6. October 19, 1907 Grant County Herald Lancaster, WI
Article from Grant County Herald, October 19, 1907

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Those Under It Get a Squeeze That Gives Them a Fit of Melancholy. OTTO HEINZE IS HARDEST HIT Firm Suspends and Brother Drops a Bank to Help Him. Can Pay All He Owes-Butte Savings Bank Also Suspends, but Is Solvent-Big Failure in Germany. New York, Oct. 18.-Sensations followed each other in rapid succession in the financial district as the result of the collapse of the projected corner in United Copper and the suspension of a prominent brokerage firm. List of the Sensations. The firm of Otto Heinze & Co. was suspended on the Stock Exchange. F. Augustus Heinze, the Butte copper magate, resigned the presidency of the Mercantile National bank, of New York. The Amalgamated Copper company at its directors' meeting cut its quarterly dividend from 2 per cent. to 1 per cent. The directors of the Boston and Montana Copper compâny declared a quarterly dividend of $6, in place of a former dividend of $12. The failure of Haller-Soehle & Co., prominent bankers of Hamburg, Germany, with liabilities that may reach $7,500,000. was announced. The State Savings bank, of Butte, Mont., of which the Heinzes are the principal stockhold, suspended. Market Rallies at the Close. As a résult of these sensations the stock market was halting and irregular, but these was apparent a feel. ing that the break of the attempted corner in United Copper had cleared the atmosphere somewhat, and the market rallied before the close. A number of meetings was held in the offices of Otto Heinze & Co., but no statement of any sort was given out. It is said that the claims against the firm, growing principally out of the at. tempted corner in United Copper may reach $2,500,000.

7. October 23, 1907 The Mercur Miner Mercur, UT
Article from The Mercur Miner, October 23, 1907

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BUTTE BANK HAS CLOSED ITS DOORS Fear of Run on Institution Causes One of the Strongest Banks in Montana to Close up. The Statement is Made That the Bank is Solvent and That the 6,000 Depositors Will Receive Their Money Within the Next Sixty Days. Butte.-The State Savings bank of Butte, one of the largest institutions of the kind in Montana, which was generally spoken of as the Heinze bank, closed its doors shortly after 10 o'clock Thursday morning. This proceeding was the result of a meeting of the directors, who posted this notice on the door: "Because of unsettled rumors that cannot be verified that may cause unusual and excessive demands by depositors, and owing to a shortage of currency and inability to secure additional currency immediately with which to pay demands which may be made, the management has decided it advisable in the interests of all depositors to suspend for the time being. The bank is solvent." It is stated that the bank is solvent and will pay out inside of sixty days. Otto Heinze & Co. did not owe the bank a dollar, and F. A. Heinze owes it less than $300,000, which is amply secured. Mr. Largey, president, owes it about $7,500, and he is able to pay many times that amount. The bank holds on hand about $300,000, and its deposits amount to about $3,000,000. There are about 6,000 depositors, and of this number 575 are commercial deposits; the others are savings of working men and women. The directors announce that they will proceed with the building of the new bank, which is nearing completion, and which will cost $200,000. State Examiner Collins will take charge of the bank.

8. October 23, 1907 The Lamar Register Lamar, CO
Article from The Lamar Register, October 23, 1907

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Stuyvesant Fish has secured a temporary injunction to prevent E. H. Harriman voting stock controlled by him in the Illinois Central Railroad company on the ground that state laws prevent one railroad company owning stock in another. Hampton G. Westcom testified at the hearing of the federal suit against the Standard Oil company that the company found it "expedient" to sell much of their product through socalled independent companies that were really owned and operated by the Standard. The Commercial elegraphers by a referendum vote have declared their intention to continue the strike. A difference of opinion has arisen in Porto Rico between the insular authorities and officers of the United States courts over the payment of the expenses of the latter. The Wall street stock market was recently thrown into turmoil by the collapse of prices of United copper company stock. The stock dropped from $50 to $10 in one day. Two large brokerage firms suspended and F. A. Heinze was compelled to resign from the presidency of the Mercantile bank of New York. A meeting between King Edward of England and the czar of Russia is to take place at Copenhagen. The passing of sentence on the Santa Fe railroad convicted of rebating at Los Angeles, Cal., has been postponed until November 4. The executive committee of the National Telegraphers' union has suspended S. J. Small as president of the organization. The stock market of Montreal, Canada, was recently thrown into a panic by the passing of the quarterly dividend of the Detroit United Street Railway company, most of the stock of which is held in that city. The Nebraska railway commission has issued an order limiting the speed of trains on the Missouri Pacific in that state to 25 miles an hour until the roadbed has been repaired. Five persons, two men and three women, have been arrested in Joplin, Mo., suspected of blowing up the News-Herald printing plant with dynamite. The last Indian pow-wow was recently held in Collinsville, I. T. Geronimo, the old Apache chief, was the principal figure. J. N. Sapp has employed counsel to aid in the prosecution of S. F. Whitlow, charged with the murder of May Sapp at Moran, Kan. A dollar a bushel was recently offered for wheat at Arkansas City, Kan. By a cave-in in the ballast quarries of the Mexican Central railroad at Victoria 16 laborers were killed and 11 others fatally injured. The trial of George A. Pettibone, charged with complicity in the assassination of ex-Gov. Steunenberg, of Idaho, is set for October 28 at Boise. The failure of Haller, Sochle & Co., an old banking house of Hamburg, Germany, has been announced. The liabilities are estimated at $7,000,000. Commercial business between Glace bay, N. S., and Clifden, Ireland, is now being accepted by the Marconi Wireless Telegraph company. The first carload of buffalo from the New York gardens have been turned loose in the government reserve in the Indian territory. Interstate Commerce Commissioner Lane is authority for the statement that the Southern Pacific railroad has continued to give rebates to shippers in defiance of the Hepburn law. The facts will be laid before the department of justice. Attorney General Hadley of Missouri has given an opinion in which he holds that the state railroad commissioners have the power to reduce the rates charged by express companies in that state. The Santa Fe Railroad company has announced a voluntary raise in salary to all telegraph operators in the employ of the company. Fifty persons were killed and 600 injured and every building in the town of Fontinet, Ind., was wrecked recently by the explosion of the Dupont Powder company's works there. The shock of the explosion was felt 200 miles away and buildings two miles distant were destroyed and the occupants injured. Judgment has been entered in the St. Louis courts against John Morton, a Joplin, Mo., mining promoter, for $537,030.22. He was charged with selling a "paper" mine in the zinc district. The State Savings bank of Butte, Mont., in which F. Augustus Heinze is the principal stockholder. closed its doors on account of a run caused by the failure of Heinze brokerage firms in New York. The farmers and their wives from all parts of the country to the number of 3,000 attended the National Farmers' congress recently held at Oklahoma City. Robbers dynamited the safe in the Kiefer I

9. October 25, 1907 Rocky Ford Enterprise Rocky Ford, CO
Article from Rocky Ford Enterprise, October 25, 1907

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Stuyvesant Fish has secured a temporary injunction to prevent E. H. Harriman voting stock controlled by him in the Illinois Central Railroad company on the ground that state laws prevent one railroad company owning stock in another. Hampton G. Westcom testified at the hearing of the federal suit against the Standard Oil company that the company found it "expedient" to sell much of their product through socalled independent companies that were really owned and operated by the Standard. The Commercial Telegraphers by a referendum vote have declared their intention to continue the strike. A difference of opinion has arisen in Porto Rico between the insular authorities and officers of the United States courts over the payment of the expenses of the latter. The Wall street stock market was recently thrown into turmoil by the collapse of prices of United copper company stock. The stock dropped from $50 to $10 in one day. Two large brokerage firms suspended and F. A. Heinze was compelled to resign from the presidency of the Mercantile bank of New York. A meeting between King Edward of England and the czar of Russia is to take place at Copenhagen. The passing of sentence on the Santa Fe railroad convicted of rebating at Los Angeles, Cal., has been postponed until November 4. The executive committee of the National Telegraphers' union has suspended S. J. Small as president of the organization. The stock market of Montreal, Canada, was recently thrown into a panic by the passing of the quarterly dividend of the Detroit United Street Railway company, most of the stock of which is held in that city. The Nebraska railway commission has issued an order limiting the speed of trains on the Missouri Pacific in that state to 25 miles an hour until the roadbed has been repaired. Five persons, two men and three women, have been arrested in Joplin, Mo., suspected of blowing up the News-Herald printing plant with dy. namite. The last Indian pow-wow was recently held in Collinaville, I. T. Geronimo, the old Apache chief, was tife principal figure. J. N. Sapp has employed counsel to aid in the prosecution of S. F. Whitlow, charged with the murder of May Sapp at Moran. Kan. A dollar a bushel was recently offered for wheat at Arkansas City, Kan. By a cave-in in the ballast quarries of the Mexican Central railroad at Victoria 16 laborers were killed and 11 others fatally injured. The trial of George A. Pettibone, charged with complicity in the assassination of ex-Gov. Steunenberg, of Idaho, is set for October 28 at Boise. The failure of Haller, Sochle & Co., an old banking house of Hamburg, Germany, has been announced. The liabilities are estimated at $7,000,000. Commercial business between Glace bay, N. 8., and Clifden, Ireland, is now being accepted by the Marconi Wireless Telegraph company. The first carload of buffalo from the New York gardens have been turned loose in the government reserve in the Indian territory. Interstate Commerce Commissioner Lane is authority for the statement that the Southern Pacific railroad has continued to give rebates to shippers in deflance of the Hepburn law. The facts will be laid before the department of justice. Attorney General Hadley of Missouri has given an opinion in which he holds that the state railroad commissioners have the power to reduce the rates charged by express companies in that state. The Santa Fe Railroad company has announced a voluntary raise in salary to all telegraph operators in the emplov of the company. Fifty persons were killed and 600 injured and every building in the town of Fontinet, Ind., was wrecked recently by the explosion of the Dupont Pow. der company's works there. The shock of the explosion was felt 200 miles away and buildings two miles distant were destroyed and the occupants injured. Judgment has been entered in the St. Louis courts against John Morton, a Joplin, Mo., mining promoter, for $537,030.22. He was charged with selling a "paper" mine in the zinc district. The State Savings bank of Butte, Mont., in which F. Augustus Heinze is the principal stockholder, closed its doors on account of a run caused by the failure of Heinze brokerage firms in New York. The farmers and their wives from all parts of the country to the number of 3,000 attended the National Farm.

10. October 26, 1907 New Iberia Enterprise and Independent Observer New Iberia, LA
Article from New Iberia Enterprise and Independent Observer, October 26, 1907

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Dr. Shoop's Rheumatic Remedy "ALL DEALERS" Butte, Montana, Oct. 24.-Two applications for the ap pointment of receivers for the State Saving Bank have been made to the court here to-day. The Bank closed its doors last week. State Bank Examiner Collins gave out a statement which intimated there was movement on foot looking to the reopening of the Banks.

11. November 1, 1907 The Kendrick Gazette Kendrick, ID
Article from The Kendrick Gazette, November 1, 1907

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MONTANA NOTES. Isaac H. Morrison, a pioneer printer and Publisher of Montana, died recently at his ranch near Helena. Of late years Mr. Morrison had beeen prominently identified with mining interests. If a ruling made by the court in the trial of Theodore Canteloni, charged with the murder of Mollie Quinn, which opened Saturday morning, is sustained by the supreme court of the state, the death penalty is practically abolished in Montana. The court ruled that a juror who was opposed to the death penalty might sit on the jury, over the contention of the state that the law excluded him, and overruled the state's challenge to prevent his sitting. Ed Murphy and George Howard have been sentenced at Butte to seven years in the penitentiary on their plea of guilty of highway robbery. The men are both young and their crime was the attempted robbery of a sub postoffice and the shooting of Mrs. Rago, the postmistress, through the arm. Acting Governor Norris has appointed the following persons to represent Montana at the 10th annual convention of the American mining congress at Joplin, Mo., November 11-16; William Walsh, Helena; W. B. Orem, Butte; W. R. Allen, Anaconda; C. S. Muffly, Winston; H. M. Rae, Gilt Edge; E. B. Howell, Butte; C. E. Newman, Helena; J. L. Templeman, Butte; Harry H. Armstead, Polaris; Emerson Hill, Bedrock. Application for the appointment of a receiver for the State Savings bank, the Butte financial house of F. Augustus Heinze, by George Dodson, was brought before Judge Bouquin and continued until after the hearing of the petition of the state in the same matter November 15. The Royal Milling company, the big grain buying company in Montana for eastern account, announces the suspension of further wheat purchases, owing to unsettled conditions in the grain market. The crop is only onefourth sold in northern Montana and farmers. a reduction will fall heavily upon the Patrol Driver William McManus at Butte shot and killed a brewery driver, C. L. Hicks, in the "bad lands." Hicks had broke away from McManus after being arrested at another officer's call, and had run into an alley, first knocking McManus down.

12. November 1, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, November 1, 1907

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MONTANA HAS MONEY. Butte and Helena Banks Cash All Checks Presented. Butte, Mont., Oct. 31.-With the single exception of the State Savings bank, which probably will be reopened shortly, Butte banks are transacting business as usual. They are cashing checks as presented and have not curtailed depositors in any way. The banks are in excellent financial shape and their managers say they will not be compelled to resort to methods now being employed elsewhere because of currency shortage. Deposits are increasing and there are no unusual demands on the banks here. State Examiner T. E. Collins, who is in charge of the State Savings bank, said today: "There is no financial anarchy in Montana. Every bank in the state, with the exception of this one concern which suspended recently, is doing business as usual, paying cash as checks are presented. The state, generally speaking, is in splendid financial condition." Helena, Mont., Oct. 31.-There is no change in the local financial institutions. No restrictions have been placed on withdrawais, nor have there been any unusua! demands upon the banks. Local bankers feel that the strained situation is rapidly drawing to a close and they anticipate no excitement in this state. They are prepared. however, for any emergency. It is improbable that either certificates, notices or holidays will be utilized. Missoula, Mont., Oct. 31.-There has at no time been any alarm concerning fiContinued on Page 2.

13. December 28, 1907 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, December 28, 1907

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HEINZE CAN SAVE IT. With $250,000 He Can Prevent a Receivership. Butte, Mont., Dec. 28.-District Judge George M. Bourquin has continued the hearing for the appointment of a receivership for the State Savings bank to January 16, with the condition that F. Augustus Heinze deposit to the credit of the bank $250,000 and M. S. Largey, president of the institution, $75,000. These sums are rated on the stock held in the State Savings bank by the two gentlemen. Judge Bourquin announced that if the bank was not ready to resume January 16, he would wait until March 2, when he would appoint a receiver.

14. December 28, 1907 The Spokane Press Spokane, WA
Article from The Spokane Press, December 28, 1907

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BETTER TO REPEAL THAN TO IGNORE SUNDAY LAW Heinze Must Dig Mayor Moore Makes Plain Statement Up $250,000 to of His Position. Reopen His Bank BUTTE, Dec. 28.-In the district court late yesterday Augustus Heinze was given until March 2 to get Will Place Non-Enforcement Petition the affairs of the State Savings bank in condition Before City Council. to open and operate the bank. Unless he does so by that date the court will appoint a receiver. Mayor Moore today came out would do more harm than good. To do this Heinze must flatly in favor of repealing the SunSuch laws it is better to repeal than raise $250,000 and deposit to day closing ordinance and went on to enforce or ignore them. I beto the credit of the bank. record to that effect in a plain letlieve the Sunday closing ordinance ter as a reply to the petition which is one of that class of laws.

15. December 30, 1907 Semi-Weekly Herald Durango, CO
Article from Semi-Weekly Herald, December 30, 1907

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Matters of the Heinze Montana Savings Bank Butte, Mont., Dec. 28.-District Judge George M. Bourquin has continued the matter of the receivership for the State Savings bank, the financial institution in Montana of F. Augustus Heinze, until March 2, on condition that Heinze places a quarter million to the credit of the bank. If the money is not deposited the bank will not open for business on March 2: then It must liquidate. The State Savings bank suspended payment following the failure of Otto Heinze & Company in New York recently.

16. January 11, 1908 Elk City Mining News Elk City, Red River Hot Springs, Red River, Newsome, Dixie, Buffalo Hump, Buffalo, Crooked River, ID
Article from Elk City Mining News, January 11, 1908

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NEWS OF THE WORLD SHORT DISPATCHES FROM ALL PARTS OF THE GLOBE. A Review of Happenings In Both Eastern and Western Hemispheres During the Past Week-National, Historical, Political and Personal Eventa. Amoy, China.-Active construction work has begun on the government telephone lines which are to connect Amoy with Tsunchou Fu, 50 miles to the north, and Changchou Fu, 30 miles to the west. Thomas Worell, prominent in Nebraska politics and the man who exposed the alleged grain trust, committed suicide at Lincoln recently by taking poison. Suffering from a broken heart, caused by sorrow over his son's disgrace, Ira C. Hoops, 60 years old, a wealthy attorney of Kokomo, Ind., committed suicide today at his home. An authoritative statement confirms the statement that the condition of the empress of Russia is no less critical, but that her convalescence has been slower than her physicians had hoped. Rio De Janeiro, Brazil.-The senate, on a third reading, approved the government bill requiring obligatory military service under conscription. Jacobs Creek, Pa.-The total of bodies recovered from the Pittsburg company's mine now reaches 175. Rutland, Vt.-Three were drowned and six barely escaped the same fate by the breaking of thin ice on a skating bond at Castleton. Kate, Mary and George Clark, all under 10 years of age, were skating on the pond and ventured on to unsafe ice. The ice broke and they went into the water. Washington.-John Chandler Bancroft Davis, for the last 24 years reporter for the United States supreme court and formerly United States minister to Germany, died here recently. He was born in Worcester, Mass., December 29, 1822. San Francisco.-Affidavits have been served on District Attorney Langdon by T. C. Coogan, Louis Glass' attornev, in his attempt to get his client, the Pacific States Telephone magnate, out of jail. Denver.-Miss Cora Marie Arnold of this city was married recently in Santa Fe, N. M., to Albino Chavarria, a full-blood Indian. Thornville, Ohio.-Kinsa Belt, one of the captors of Jefferson Davis, died at Thornville recently, aged 63 years. He was a member of the One Hundred and Thirty-eighth Ohio cavalry. Cholera is ravaging the pilgrims of Mecca, the deaths at Mecca, Medina and Yemho averaging 100 a day. Despondent over continued ill health Henry F. Terry, a well known society man of Brooklyn, committed suicide by shooting himself. Colorado Ute Indians are traveling in bands in southern Utah, raiding sheep and cattle men, according to a report. In a pistol battle following the robbery of the Vandalia passenger depot in Smithboro, Ill., recently, one of two robbers was shot five times and Emory Brown, city marshal of Sorento, Ill., was wounded twice. Both men are reported as being in a serious condition. Senator Newlands of Nevada is endeavoring to prevent withdrawal of the government troops from Goldfield until some other means of protection is had. Butte, Mont.-On the showing made by counsel representing the parties interested, Judge George M. Bourquin in the district court continued the matter of the appointment of a receiver for the State Savings bank until January 16, on condition that by that time F. Augustus Heinze will place $250,000 in cash and M. S. Largey $75,000 in cash to the credit of the bank. The Great Northern Railroad company has given notice of appeal to the United States circuit court of appeals at San Francisco in the case of the Kalispell Lumber company and others against the Great Northern Railroad company, in which Federal Judge Hunt granted a temporary restraining order preventing the railroad from putting into effect a higher tariff on lumber shipments until the inter-

17. January 16, 1908 The Evening Star and Newark Advertiser Newark, NJ
Article from The Evening Star and Newark Advertiser, January 16, 1908

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HEINZE PAYS UP TURNS OVER $250,000 TO CLOSED BANK. Montana Savings Institution May ReOpen in March-Others Reimburse, BUTTE, Mont., Jan. 16.-State Bank Examiner T. E. Collins,- in charge of the State Savings Bank, will report to Judge Bourquin today that F. Augustus Heinze, who owned 52 per cent. of the stock of that institution when it suspended a few months ago, has turned over to him securities to secure the debt he owes the bank. On December 27 last District Judge Bourquin, at a hearing incident to the proceedings growing out of the application of creditors to have a receiver appointed for the bank, announced that if by January 16 Mr. Heinze had deposited $250,000 in cash or marketable securities to the credit of the bank, and M. S. Largey, president of the bank, had deposited $75,000, he would give the bank until March 2, if necessary, to reopen. If by that time it was not prepared to reopen, liquidation, the court sald, must follow. Largey has deposited the $75,000, all in cash.

18. January 17, 1908 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 17, 1908

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MADE SOME ARRANGEMENT Secrecy Regarding Heinze's Settlement With Butte State Savings Bank. Butte, Jan. 16.-Judge Bourquin, in the district court, today continued the hearing incident to the application for a receiver for the suspended State Savings bank until February 17. On December 27 Judge Bourquin directed M. S. Largey, president of the bank. to put up $75,000 and F. Augustus Heinze, who owned a controlling interest in the bank, to pay $250,000, to secure their indebtedness to the bank, by January 16. The credit was to be put up in money or marketable securities. Largey has put up the cash. At the request of counsel for the bank, the court did not announce today whether or not Heinze had put up the $250,000. The state examiner will not make the facts public. After a conference with the lawyers in chambers, the court said from the bench that he believed the bank would be opened by February 17.

19. January 25, 1908 New-York Tribune New York, NY
Article from New-York Tribune, January 25, 1908

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LOAN TO HEINZE'S BUTTE BANK. Butte, Mont., Jan. 24.-District Judge George N. Bourquin has approved a loan of $200,000 by Edward Creighton Larget to the State Savings Bank to enable the institution to resume business. Mr. Larget, who is the son of the founder of the bank, accepts as security the building recently erected by the bank for its new home. The State Savings Bank was F. Augustus Heinze's financial institution in Montana, which suspended some months ago.

20. January 25, 1908 The Evening Statesman Walla Walla, WA
Article from The Evening Statesman, January 25, 1908

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in the attempted robbery of the postoffice at Pendleton. Ore., are now under arrest there. Who the men are the officers refuse to say, but it is understood they are transients and were arrested yesterday in the belief that they were connected with the attempted burglary. Rather than see the State Savings bank at Butte, Mont., go into the hands of a receiver because of the failure of F. A. Heinze to pay in $250,000 and required by the court, Edward Creighton Largey, the youngest son of Mrs. Lulu Largey-Catron, offered to loan the bank $200,000 which was accepted by the court. The North Yakima city council has passed a resolution of intention to pave 32 of its main business streets, covering a distance of two miles, with vitrified brick. A sharp contest between two leading paving companies of the coast has been in progress for two weeks. The estimated cost of this pavement is $245,000. Samuel Stewart, wanted by the Helena officers for passing bogus checks, has been arrested at Butte just as he was about to leave the county jail, where he had been confined on a charge of attempting to pass a fraudulent check for $120. Stewart had been released for want of prosecution, when it was learned he was wanted in Helena. Numerous blunders are coming to light in the new state "Booster" book just issued by Secretary of State Nicholls. It has been discovered that in addition to fixing the population of Spokane at 80,000 instead of 90,000, as he had promised, the towns of Sprague, in Lincoln county, and Blaine, in Whatcom county, are entirely omitted, I:0 mention of them being made in any way.

21. February 4, 1908 Wausau Pilot Wausau, WI
Article from Wausau Pilot, February 4, 1908

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ALL AROUND THE GLOBE. Fire destroyed the Sunflower Glass Company's plant at Coffeyville, Kan. Loss $100,000. Fire destroyed the pattern shop and armature winding plant of the Cleveland Steel Casting Company. Loss $100,000. Emperor William of Germany in disguise attended a masked ball given by Prince Adalbert, one of his sons, at Kell. Lord Curzon, elected a representative peer of Ireland, may lose his place by not having qualified as a voter at the election. The Mine Operators' Association at Goldfield, Nev., decided to abolish the card system which required all employes to sign an agreement renouncing the Western Federation of Miners. District Judge George M. Bourquin at Butte, Mont., has approved a loan of $200,000 by Edward Creighton Largey to the State Savings bank, a suspended Heinze institution, to resume business. For the first time in twenty-five years a woman has been convicted of arson in New York. Mrs. Aggie Ackerly was found guilty of setting fire to an apartment building in a tenement district in Brooklyn. John D. Rockefeller heard a sermon in the Tabernacle Baptist church (colored). Augusta, Ga. The Rev. C. T. Walker got out of a sick bed to preach. A deserting sailor from the Norwegian steamship Tyrea reports in Seattle that the Tyrea sighted the missing British ship Hartfield, forty miles inside the straits, on her beam ends, with her forward ensign inverted as a distress signal, Fire in Royal street, in the heart of the business district of New Orleans, caused daraage to the extent of $250,000. The five-story building occupied by the W. G. Tebault furniture house was destroyed. Mrs. Ed H. Lund, cashier of the Tebault firm, was badly injured.

22. February 6, 1908 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, February 6, 1908

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ALL AROUND THE GLOBE. Fire destroyed the Sunflower Glass Company's plant at Coffeyville, Kan. Loss $100,000. Fire destroyed the pattern shop and armature winding plant of the Cleveland Steel Casting Company. Loss $100,000. Emperor William of Germany in disguise attended a masked ball given by Prince Adalbert, one of his sons, at Kell. Lord Curzon, elected a representative peer of Ireland, may lose his place by not having qualified as a voter at the election. The Mine Operators' Association at Goldfield, Nev., decided to abolish the card system which required all employes to sign an agreement renouncing the Western Federation of Miners. District Judge George M. Bourquin at Butte, Mont., has approved a loan of $200,000 by Edward Creighton Largey to the State Savings bank, a suspended Heinze institution, to resume business. For the first time in twenty-five years a woman has been convicted of arson in New York. Mrs. Aggie Ackerly was found guilty of setting fire to an apartment building in a tenement district in Brooklyn. John D. Rockefeller heard a sermon in the Tabernacle Baptist church (colored), Augusta, Ga. The Rev. C. T. Walker got out of a sick bed to preach. A deserting sailor from the Norwegian steamship Tyrea reports in Seattle that the Tyrea sighted the missing British ship Hartfield, forty miles inside the straits, on her beam ends, with her forward ensign inverted as a distress signal. Fire in Royal street, in the heart of the business district of New Orleans, caused damage to the extent of $250,000. The five-story building occupied by the W. G. Tebault furniture house was destroyed. Mrs. Ed H. Lund, cashier of the Tebault firm, was badly injured.

23. February 15, 1908 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, February 15, 1908

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BUTTE SAVINGS BANK RESUMES Institution Which Closed Last Octo. ber Reopens for Business-Heinze Deposed. Butte, Mont., Feb. 15.-The State Savings Bank of Butte, which closed its doors last October, today resumed business. The petition for a receiver pending in the district court was dis. missed. F. A. Heinze has retired from the board of directors. There was no run and many persons opened new accounts.