11346. Northwestern National Bank (Great Falls, MT)

View Charter #2476 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2476
Charter Number
2476
Start Date
February 5, 1897
Location
Great Falls, Montana (47.500, -111.301)

Metadata

Model
gpt-5-mini
Short Digest
99cbb210

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1897-03-06
Date receivership terminated
1900-07-05
OCC cause of failure
Fraud
Share of assets assessed as good
43.6%
Share of assets assessed as doubtful
34.0%
Share of assets assessed as worthless
22.5%

Description

The bank posted a notice of suspension in early February 1897 after discovery of a large defalcation by cashier Benton D. Hatcher (reported as $180,000). The comptroller/examiner was called and a receiver was appointed; the institution was placed in receivership and proceeded to liquidation (arrangements made to pay depositors; later a receiver was formally appointed). No contemporaneous article describes a depositor run prior to suspension, so this is a suspension leading to closure/receivership rather than a run-driven suspension.

Events (4)
1. May 14, 1880 Chartered
Source
historical_nic
2. February 5, 1897 Receivership
Newspaper Excerpt
The Northwestern National bank of Great Falls was placed in the hands of a receiver this morning. / Comptroller ... sent a bank examiner to take charge of the bank. / ... was placed in the hands of a receiver for the suspended Northwestern National bank of that city (later named James T. Stanford).
Source
newspapers
3. February 5, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large defalcation/misappropriation by cashier Benton D. Hatcher (reported about $180,000) discovered, prompting directors to suspend and notify Comptroller of the Currency.
Newspaper Excerpt
The Northwestern National bank . . . has posted a notice announcing its suspension this morning. The board of directors and officers charge that the trouble is due to a defalcation on the part of Cashier Benton D. Hatcher, of $180,000.
Source
newspapers
4. March 6, 1897 Receivership
Source
historical_nic

Newspaper Articles (23)
1. February 5, 1897 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, February 5, 1897

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A BANK CASHIER. He Exceeds his Authority and the Institution Tied Up. WASHINGTON, D. C., February 5.Two directors of the Northwestern national bank, of Great Falls, Mont, took charge of that institution, this morning, superceding the executive officers They telegraphed the comp. troller of the currency at Washington, D. C. that the cashier of the bank had bought securities in violation of instructions and that their action has been based on that fact. In response to a request for instructions, the comptroller sent a bank examiner to take charge of the bank. BUTTE, Mont., February 5.-The North western national bank, at Great Falls, Mont., failed to open its doors, this morning. The reason given in the dispatches is a discovered defalca. tion of about $27,000, which sum has been taken from the vaults since yesterday. ANOTHER FAILURE. FRANKLIN, Ohio, February 5.-The First national bank, of this city, has suspended. Capital $100,000 ; surplus, $20,000; undivided profits, $3.000; deposits, $135,000; loans and discounts, $195,000.

2. February 5, 1897 El Paso Daily Herald El Paso, TX
Article from El Paso Daily Herald, February 5, 1897

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Two Bank Failures. FRANKLIN, Ohio, February 5.-The First National bank suspended today. Capital $100,000, surplus $20,000, undivided profits $30,000, deposits $135,000 loans and discounts $195,000. GREAT FALLS, Mont., February 5.The North western National bank of Great Falls was placed in the hands of receivers this morning.

3. February 5, 1897 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, February 5, 1897

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Bank Failures. FRANKLIN, Ohio, Feb. 5.-The First National Bank has suspended. Capital, $100,000; surplus, $20,000; undivided profits, $30,000; deposits, $135,000; loans and discounts, $195,000. GREAT FALLS, Montana, Feb. 5.The Northwestern National Bank of Great Falls was placed in the hands of a receiver this morning.

4. February 6, 1897 Evening Star Washington, DC
Article from Evening Star, February 6, 1897

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SHORTAGE CAUSES A SUSPENSION. Defalcation of the Northwestern National Bank at Great Falls, Mont. The Northwestern National Bank, one of the oldest institutions in Montana, posted a notice announcing its suspension yesterday. The board of directors and officers charge that the trouble is due to a defalcation on the part of Cashier Benton D. Hatcher, of $180,000. The controller of the currency wired Louis G. Phelps to take temporary charge of the bank. pending the arrival of the examiner. The assets of the institution are given out by the directors as $750,000; liabilities about an equal amount. Cashier Hatcher is lying prostrated at his home. All day he refused to say anything for publication. The charges made by the board of directors are of a sensational character. It is believed, however, that in the wrecking of the bank Cashier Hatcher is not the only person implicated. December 12 last the Conrad brothers, who were the organizers of the bank in the early 80's, offered their stock, amounting to $189,000. for sale, as they were retiring from all active business. The entire holding was purchased by Cashier Hatcher. who informed the directors of the bank that he had friends in Boston who wanted to purchase the stock. Mr. Hatcher went cast in December, and on his return informed the directors that he had sold the stock to his friends. The correspondent of the Northwestern in the east is the Globe National Bank of Boston. Cashier Hatcher, it is alleged, being unable to dispose of the stock as he had agreed to, drew from the Globe National the amount of the purchase price of the stock, $180,000. This was over a month ago, and no suspicion of where the inoney came from was entertained until just before a movement for reorganization was revived, January 12. An investigation was put on foot, but no knowledge of it was possessed by the officers or directors until the arrival of President James A. Coram from Boston Thursday. He at once called a meeting of the directors, and for the first time it was known that the Globe National Bank did not have on deposit the amount reported by the Northwestern books, $180,000. The directors decided to suspend. and yesterday morning wired the controller to that effect.

5. February 6, 1897 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, February 6, 1897

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CASHIER STEALS $180,000. National Bank at Great Falls, Mont., Closes. Great Falls, Mont., Feb. 6.-The Northwestern National bank ,one of the oldest institutions in the state, has posted a notice announcing its suspension. The board of directors and officers charge that the trouble is due to a defalcation on the part of the cashier, Benton D. Hatcher, of $180,000. The comptroller of the currency has wired Louis C. Phelps to take temporary charge of the bank. pending the arrival of the examiner. The assets of the institution are given out by directors as $75,000. Liabilities about equal. Cashier Hatcher is lying prostrated at his home here. All day long he refused to say anything for publication. On December 12 last, Conrad Bros., who owned the bank in early 80's placed their stock for sale as they were retiring from active business. The entire holding was purchased by Cashier Hatcher, who informed the directors that he had friends in Boston who wanted to purchase the stock. Mr. Hatcher went east in December. and on his return informed the directors that he had sold the stock to his friends. The correspondent of the Northwestern in the east is the Globe National of Boston. Hatcher it is alleged was unable to dispose of the stock as he had agreed to do, but drew on the Globe National for the amount of the purchase, $180,000.

6. February 6, 1897 The Times Richmond, VA
Article from The Times, February 6, 1897

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Business Troubles, FRANKLIN, O., Feb. 5.-The First National Bank has suspended. Capital $i00.000; surplus $20,000; undivided profits $30.000; deposits $135,000; loans and discounts $195,000. GREAT FALLS, MON., Feb. 5.-The Northwestern National Bank of Great Falls was placed in the hands of a receiver this morning. SYRACUSE, N. Y., Feb. 5.-The Syracuse Manufacturing Company went into the hands of a receiver to-day. Liabilities, $76,000; assets nominal, $105,000: assets, $150,000. The company manufactured hardware specialties and the Frontenac bicycles.

7. February 6, 1897 Marietta Daily Leader Marietta, OH
Article from Marietta Daily Leader, February 6, 1897

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CONDENSED NEWS Gathered From All Parts of the Countr by Telegraph. The education bill passed its firs reading in the house of common Thursday. Prof. H. H. Harris, of Louisvill Theological seminary, died in Lynel burg, Va., Thursday afternoon. The Northwestern national bank o Great Falls, Mont., was placed in th hands of a receiver Friday morning. The extensive cotton mill of Dolfu & Mantz at Mulhausen, Alsace, wa burned Friday. The loss was $200.00 Floods are prevailing in the valley of the Thames and Oufe rivers, wher large tracts of land are submerged Great damage has been done to prop erty. Assignee George C. Dixon says, wit respect to the failure of E. C. Hodge & Co., Boston: "It has been ascer tained that the liabilities of the fir are between $225,000 and $250,000, ger erally secured by collateral." The plan formulated by the Englis government for increasing the strengt and efficiency of the navy conten plates the construction of five battle ships and three first-class cruisers an the addition of 10,000 more men. The senate Thursday confirme John F. Valls, of Louisiana, to be con sul of the United States at Matamoras Mex. C. E. Dingle was confirmed t be postmaster at Woodland, Cal., als J. J. Conway, at Harper's Ferry, 11 Va. Dan Stuart, the promoter of the Co bett-Fitzsimmons fight, left Denisor Tex., for Nevada Friday to arrange fo the coming fight. Before leaving Str art said: "The battle will either tak place at Reno or Carson City. Ther will be no hitch in the programme. Secretary of War Lamont, Thurs day evening entertained at dinner brilliant assemblage of guests, num bering among them the vice president Speaker Reed, Senators Cameror Lodge, Hale, Chandler, Aldrich, Gray Murphy, Smith and Brice; Gen. Mile and representative Benton MeMillor A joint committee of the Illinoi legislature was appointed to make an rangements for the trip of the mem bers to Washington toattend the inau guration of Maj. McKinley. The leg islature will go in a body, and Gov Tanner, accompanied by his newly ap pointed staff, will also represent th state at the ceremony. The will of the late Capt. Thomas T Turner, filed for probate Thursday a Clayton, St. Louis county, Mo., dis tributes an estate valued at $15,000,000 Of the nine heirs five live in Washing ton, three in St. Louisand one in Mon treal, Can. At the time of his deatl in New Orleans recently, Mr. Turne was the wealthiest citizen of St. Loui county. After three sessions devoted to th consideration of the petition of Henr A. Dupont, of Delaware, in his clair to a seat in the United States senate the senate committee on privilege and elections Friday morning refuse to re-open the case. Messrs. Mitchel and Pritchard were absent, but ever other member of the committee excep Mr. Chandler voted against again tak ing up the case. Secretary Herbert Thursday award

8. February 6, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, February 6, 1897

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RESULTS IN THE CLOSING OF THE NORTHWESTERN BANK AT GREAT FALLS. MISAPPROPRIATED $180,000 OF THE BANK'S FUNDS AND PUT THE CASH INTO BANK STOCK. A SENSATION IS PROMISED, Cashier Claiming to Be Innocent of Wrongdoing-Mystery in the Affair, GREAT FALLS, Mont., Feb. 5.-The Northwestern National bank, one of the oldest institutions in the state, posted a notice announcing its suspension this morning. The board of directors and officers charge that the trouble is due to a defalcation on the part of Cashier Benton D. Hatcher, of $180,000. The comptroller of the currency has wired Louis C. Phelps to take temporary charge of the bank pending the arrival of the bank examiner. The asset of the institution are given out by the directors as $750,000, liabilities of about equal amount. Cashier Hatcher is lying prostrated at his home here. All day long he refused to say anything. This evening he was seen. in his bed chamber and commenced to tell his story. He had proceeded but a few words, when he clasped his hands to his head and exclaimed: "Oh, I cannot talk to you now. My head is buzzing. Wait until I am myself, and when I tell my story the world will not think I am a dishonest man. Say forme that none of our correspondents or depositors will lose a dollar." The charges made by the board of directors are of a sensational character. It is believed here, however, that in the wrecking of the bank more than Cashier Hatcher are implicated. On Dec. 12 last the Conrad brothers, who were the organizers of the bank in the early '80s, offered their stock, amounting to $180,000 for sale, as they were retiring from all active business. The entire holding was purchased by Cashier Hatcher, who informed the directors of the bank that he had friends in Boston who wanted to purchase the stock. Mr. Hatcher went East in December, and on his return informed the directors that he had sold the stock to this friends. The correspondent of the Northwestern in the East is the Globe National bank, of Boston. Cashier Hatcher, it is alleged, being unable to dispose of the stock as he had agreed to do, drew from the Globe National the amount of the purchase price of the stock, $180,000. This was over a month ago, and no suspicion of where the money came from was entertained until just before a Ten on mortgage ceived for reorganization was re-

9. February 11, 1897 Owingsville Outlook Owingsville, KY
Article from Owingsville Outlook, February 11, 1897

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GENERAL NEWS. The death of Gen. Jo Shelby, of Adrian, Mo., is expected. The steamer Natchez was seriously injured below Vicksburg. Senator George, of Mississippi, is a little improved from his dangerous illness. Thirty fine horses were killed in a collision on the Illinois Central railroad near Tolena, III. Joseph L. Rawlins defeated Moses Thatcher for U. S. Senator from Utah. A contest is probable. The British-Venezuelan arbitration treaty has been duly signed and sent to Venezuela for ratification. Up to Feb. 4th there had been 3,841 deaths out of 5,098 cases of the bubonic plague, at Bombay, India. The Birmingham (Ala.) Rolling Mills will be converted into the largest steel mill south of Pittsburgh. The Missouri Legislature will consider a bill to prohibit railroad employes from flirting with female passengers. Spain has promulgated a Cuban Reform decree to go into operation as soon as the rebellion is sufficiently confined. M. B. Leonard, telegraph superintendent of the C. & 0. R. R., died of a cancerons growth in the throat, at Richmond, Va. Cyrus E. Breder, Cashier of the First National of Bethlehem, Pa., stole $12,000 of the bank's money and is sojourning in Canada. In the Tennessee Legislature the House killed the Senate bill reducing salaries of all the State officials except that of the Governor. The new tariff bill will restore the McKinley rates on lumber except that white pine is restored to the 1883 rate, which is double the McKinley rate. The ice-gorges in the Ohio river are playing hob with the steamboats and other river craft. The Buckeye State was sent aground below Louisville. The Southern Mutual Building and Loan Association, of Atlanta, Ga., liabilities of $1,000,000, is al. leged to be insolvent and is in the hands of a receiver. It is reported that McKinley is compelled to reconstruct his Cabinet and leave Sherman and Alger out, owing to the hostility of the Foraker faction in Ohio. The Indiana Supreme Court says the case of Brown and Sexton, the Louisville officers who killed John Rippey at Salem, Ind., by mistake and in self defense, is not bailable. Cuban sharpshooters are making a special target of Gen. Weyler. His horse was shot under him near Santa Clara and he has several times narrowly escaped bullets. Theo. A. Havemeyer testified before the Lexow Committee in New York that he wouldn't go into any business unless he could make 15 to 20 per cent. out of it. He is Vice President of the "Sugar Trust." Maj. Alfred A. Hartridge, of Savannah, Ga., belonging to one of best families, raised two stock certificates of the Southwestern R. R. and went to Europe. A reward of $200 is offered for his capture. Addison Cammack, born in Kentucky about 70 years ago, famous as one of the most daring operators on the New York Stock Exchange, has retired, with a fortune of millions. He offers his Exchange seat for sale. The Northwestern National Bank of Great Falls, Montana, has suspended. The assets and liabilities are each about $750,000. The officers say the defalcation of Cashier Benton D. Hatcher for $180,000 caused the trouble. The President, on recommendation of the Secretary of the Interior for reasons of economy, has signed the order discontinuing ten out of the eighteen pension agen-

10. February 11, 1897 Belding Banner Belding, MI
Article from Belding Banner, February 11, 1897

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NEWSY CONDENSATIONS. The wife of John Cort threw her children into the Yellowstone river, near Big Timber. Mont., and then jumped in after them. All were drowned. The Northwestern National bank, of Great Falls. Mont., one of the oldest institutions in the state. has suspended, owing to a defalcation on the part of Cashier Benton D. Hatcher of $180,000. Senator Merriam, of VanBuren, does not think the Pingree bills for a 2 cent passenger fare on railroads, and for local taxation of railroad property, will pass, but has great hopes for his bill to raise the specific tax on railroad property throughout the state. A Canton special says Judge Goff. of Maryland, who was slated for a position in McKinley's cabinet. has declined the honor, owing to his wife's health. The question of who shall be the southern representative in the cabinet is now opened again with a dozen prominent candidates. The United States government is rapidly accumulating a collection of useless war vessels, the latest acquisition being the new monitor Puritan which proved unseaworthy in her dock trial. The battleship Indiana has suddenly returned to Hampton roads and it is reported that she cannot be handled in a blow. The Detroit pension office has been discontinued by order of President Cleveland, together with nine others in various parts of the country. Secretary of the Interior Francis recommended this move on the ground that it would reduce the cost of disbursing pensions $150,000 per year. Payments formerly made from Detroit will be made from Indianapolis. Great Britain and France are at odds over the Egyptian campaign, the latter having refused to allow the funds under contro! of the mixed European protectorate to be used to defray the expenses of the present expedition against the dervishes up the Nile. Great Britain has advanced the money, but has the support of Germany, Austria and Italy, and France may be forced to back down. Russia says she has no interests involved.

11. February 12, 1897 The Ocala Banner Ocala, FL
Article from The Ocala Banner, February 12, 1897

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Banks and Business Failures. The following banks and business firms have failed since the last issue of this paper: The Northwestern National bank of Great Falls, Montana. It was one of the oldest institutions in the state. The shortage of the cashier is $180,000. The -confiding depositors have the bag to hold. The cashier of the First National bank of Bethlehem, Pa., absconded with $150,000 and left the bank with nothing to do but close its doors and the depositors to bemoan the confidence they had given it. The First National of Franklin, Ind., has also closed its doors. The depositors are going through the same experience. The Duck River Phosphate Co., of Tennessee, assigned Saturday. The Southern Mutual Building and Loan Association of Atlanta was placed in the hands of a receiver Saturday. Thomas Doherty, tea merchant of Montreal, Canada, assigned. Brown and Pillars, of Orlando, grocers, made an assignment Monday. The State Savings bank, of Atlanta, of which Captain H. C. Wright, of this city, was recently elected president, is in the hands of a receiver.

12. February 12, 1897 The Columbia Herald Columbia, TN
Article from The Columbia Herald, February 12, 1897

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GENERAL NEWS. The First National Bank of 2ho Franklin, O., has suspended. A German at St. Louis last week was driven by hunger to steal a horse and kill it for food. A receiver has been placed in charge of the Northwestern National Bank, of Great Falls, Mont. The Portsmouth, O., Lumber Company, with a capital of $1,000,000, has made application for a receiver. The Southern Building and Loan Association, of Atlanta, has gone into a receiver's hands; over $1,000,000 is involved. It is charged that the association is insolvent, heavy withdrawals having been made on account of the recent failures at Knoxville. President Cleveland has signed an order reducing the number of pension agencies by half, by which a saving of at least $150,000 per annum is made.

13. February 13, 1897 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, February 13, 1897

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John Lee, a Philadelphia, Pa., yarn manufacturer, has made an assignment. Mr. Lee says the failure was caused by the general business depression. At Selma, Ala., Maas & Schwartz, cotton commission merchants, and S. Maas & Co., kindred firms, doing a wholesale grocery business, have made an assignment. Liabilities, $300,000. The Consumers' Ice Company, of Cincinnati, has assigned. The First National Bank of Griswold, Iowa, has failed. William H. Crawford & Co., Baltimore, Md., wholesale dealers in spices, have made an assignment. Sheriff Austin has taken possession of the plant of the Syracuse (N. Y.) Specialty Company, on executions issued under judgments amounting to $43,726.28. The company manufactured the Frontenac bicycle. There has been considerable dissatisfaction caused among street-car employes in Toledo, O., on account of a reduction of 10 per cent. in wages, which went into effect February 1. There have been rumors of a strike, but the men have adopted no policy yet. The Metropolitan Iron and Land Company, operating the Norrie, East Norrie and Pabst mines, in Michigan, and employing at present about 700 men, has cut the wages of all its employes 10 per cent. This cut affects every man connected with the mine. At Trenton, N.J., the American Sugar Refining Company has organized the American Coffee Refining Company, with a capital stock of $1,000,000. This is in continuation of the fight with the Arbuckle Coffee Company. The First National Bank of Bethlehem, Pa., is in trouble; cashier a defaulter for $12,500; Northwestern National Bank of Great Falls, Montana, is closed; and the First National Bank of Franklin, Ohio, is closed. The Governor of Wisconsin has decided to foreclose the mortgages held by the State against the Wisconsin Agricultural Society's grounds near Milwaukee. The society has paid no interest at all on the mortgages, which aggregate $168,448.03, and with the unpaid interest amount to over $205,000. A receiver has been appointed for the Lincoln, III., Electric Street Railway Company. The Southern Mutual Building and Loan Association, of Atlanta. Georgia, has been placed in the hands of a receiver. The association has, it is ssid, $1,250,000 loaned on real estate, Three hundred hands employed at Reiling, David & Schoen's silk mill, in West Hoboken, New Jersey, struck on Saturday because the firm refused to restore 20 per cent. taken from their wages four months ago.

14. March 13, 1897 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, March 13, 1897

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To Pas " Goodly Dividend. Great Falls. Mont., March 11 - There are now on hand in the Northwestern National bank some $135,000. the ITsult of collections since the failure A receiver will probably be mained sooso. when it dividend of 20 or will be paid.

15. March 27, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, March 27, 1897

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WILL PAY DEPOSITORS IN FULL. Great Falls Bank Trouble Satisfactorily Arranged. HELENA, Mont., March %-A. B. Brown, special representative of Comptroller Eckels, who came from Washington to endeavor to adjust the affairs of the suspended Northwestern National bank at Great Falls stated that the bank would reopen or liquidate without the services of a receiver. He held a meeting here tonight with the Conrad brothers, who sold out their holdings in the bank shortly before It closed, and an agreement was reached by which the Conrads will take back their stock, amounting to over $100,000, thereby insuring the payment of every depositor in full.

16. April 15, 1897 The Dupuyer Acantha Dupuyer, MT
Article from The Dupuyer Acantha, April 15, 1897

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Published Every Thursday. A Republican Newspaper devoted to the interests of Dupuyerand Surrounding Communities. Entered at the post office at Dupuyer, Mont., sesond-class mail matter. C. E. Trescott, Publisher. A Washington special to the Helena Herald states that the resumption by the Merchar ts National bank has such official encours agement and sanction as promises to speedly re-open its doors and restore it, to its former prestige and u-efulness to the people of Moutana. President Hershfield is in New York perfecting arrangements to carry out resumption plans at an early date. W. G. Cenrad and Captain Couch are in Washington in connection with the affairs of the suspended Northwestern National bank of Great Falls. The institution will go in to liquidation under the auspices of the old stockholders, who will pay the depositors in full. The Courad Bros. will continue in business in Great Falls as private bankers.

17. May 4, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, May 4, 1897

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Special Dispatch to the Post-Intelligencer, HELENA, Mont., May 3.-The United States grand jury, after a twelve days' session, made its final and only report today, returning twelve indictments-one against B. D. Hatcher, cashier of the suspended Northwestern National bank, at Great Falls; four against William S. Armstead, Fort Assinneboine, accused of stealing four buffalo overcoats from soldiers; one against Ben Murray, charged with arson in setting fire to the buildings at St. Ignatius mission, on the Flathead reservation, and six against a person who is now under arrest, but whose name is suppressed. There were forty-six counts against Hatcher. The chief count alleges misappropriation of $90,000 of the bank's funds. The rest are for sums ranging from $200 to $5,000. Hatcher is already under $15,000 bond to appear before the grand jury. That no indictments were returned against the officials of the suspended First National bank of this city was a surprise to everybody, even to the court. for Judge Knowles questioned the jury carefully as to whether all the matters presented had been investigated. It is only a few weeks ago that Judge Bellinger quashed the indictments of a previous grand jury against E. G. Edgerton, E. W. Beatty and G. H. Hill, officials of the suspended bank, and It was the general understanding that the present jury would return indictments that would hold. Upon motion of the United States attorney the bondsmen of Edgerton, Beatty and Hill were released this evening, and everybody in Helena is wondering how it all happened.

18. May 5, 1897 Fergus County Argus Lewistown, MT
Article from Fergus County Argus, May 5, 1897

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3 IN RECEIVER'S HANDS. Northwestern Bank Will Not Liquidate as First Announced. A dispatch from Washington announces that Comptroller Eckels has appointed James T. Stanford, of Great Falls, receiver for the suspended North western National bank of that city. This is a surprise to many as it was supposed the bank would liquidate without the appointment of a receiver. It is stated that the comptroller took this action against the protest of the Boston & Montana people, and in a measure because of their refusal to co-operate. He is entirely satisfied with Mr. Stanford and says he is convinced everything will come out right concerning the bank. Sometime ago an agreement was reached by which Conrad Brothers, Capt. Couch and the Boston & Montana company were jointly to furnish enough to pay off all depositors in full immediately. The Conrad Brothers placed the comptroller in possession of the $90,000 paid them by Cashier Hatcher for their stock and the Conrads with Couch stood ready to furnish two-thirds of the money necessary. But the Boston & Montana people failed to perform their part of the agreement and the appointment of a receiver became necessary. The objection offered by the Boston & Montana company to carry out the agreement was that they hold but 500 shares and that the other stockholders would elect Mr. Stanford president of the bank if re-opened. They also protested against Capt. Couch. The comptroller reminded the Boston Montana people that last December, when he changed the receiver of the Helena First National bank they had indorsed Stanford for the new receiver.

19. August 19, 1897 The Dupuyer Acantha Dupuyer, MT
Article from The Dupuyer Acantha, August 19, 1897

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# The Cooper-Martin Case. In the district court last Friday Brady & Freeman, attorneys for Anne Lyon Martin, administratrix of the estate of Stephen C. Martin, deceased, in her suit against O. G. Cooper, filed an application for an order enjoining the sale of a large amount of property belonging to the Cooper-Martin Sheep company. Judge Leslie issued a temporary restraining order and ordered the Northwestern National bank of Great Falls, James T. Stanford, receiver of said bank, and Kyle Price to appear Aug. 18 at 10 a.m. to show cause why the restraining order should not be made permanent. The property involved is several thousand acres of land in Teton county, 17,512 head of sheep and their increase for 1897, 101 head of horses, cattle, farming implements, etc. Several months ago the Northwestern National obtained judgment against the Cooper-Martin Sheep company for $26,000. Cooper is a stockholder of the company. An execution was issued against the company's property and the property was sold to Kyle Price, supposed to represent the bank, for $9,105. Later Mrs. Martin instituted suit against Cooper for $14,000, and obtained judgment. It is alleged that Price did not take absolute possession of the property, but agreed to hold it until the bank

20. September 1, 1897 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, September 1, 1897

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COMPTROLLER ARRIVES Promises a Ten Per Cent Dividend at Least for the First National. Special Dispatch 13 the Standard. Helena. Aug. 11-Comptroller of the Treasury James H. Eckets, wife and daughter arrived over the Great Northern this morning on their way to the National park. from where they will proceed to Butte and Anaconda and then on to Salt Lake City and Glenwood Cafa Comptroller Eckets trip has no business significance he said 10-day although he is in a measure combining business with the pleasure of an outing He received many callers at the Helena to-day and spent a good share of the afternoon in consultation with Kugene T. Wilson receiver of the Merchants National bank J. Sam Brown receiver of the First National bank and James T. Stanford receiver of the Northwestern National bank of Great Falls Among his catters were a number of First National bank depositors, who took occasion to inquire as to the prospects for u dividend The bank suspended Sept. 1 100% and store then DO sign of a dividend hax been seen by the multitude of depositors Mr. Eckets replied that a to ter cent. dividend at least would be annotanced some time before his report to congress which will be closed Oct. IL He referred to the = per cent. dividend that has just been announced for the use product Merchants' National bank and the experient showing made by the NorthWHITERN National For some time the rumor has been current that J. Sam Brown was to be remayced 8000 all receiver of the First No. tional bank but Mr. Eckels neatly dodged the question when asked it the report had any faculation Mr. Eckels and family will leave to-

21. January 20, 1898 The Princeton Union Princeton, MN
Article from The Princeton Union, January 20, 1898

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Security Company Sued. Helena, Mont., Jan. 18.-James T. Stanford, receiver of the Northwestern National Bank of Great Falls, commenced an action in the district court against the National Surety Company of Kansas City to recover $25,000, the amount of a bond furnished the bank through the defendant company by Benton D. Hatcher, former cashier, who recently pleaded guilty to a charge of misappropriation of funds of the bank, for which he is now serving a five-year term in the penitentiary. It is alleged that Hatcher embezzled more than the amount of the bond furnished by the defendant company.

22. December 30, 1898 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, December 30, 1898

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A Pardon for Hatcher. Special Dispatch to the Standard, Helena, Dec. 29.-An effort will be made to induce President McKinley to grant a pardon to Benton D. Hatcher, the ex-cashier of the suspended Northwestern National bank of Great Falls, who pleaded guilty in November of last year to misapplication of the funds of the bank and was sentenced to five years in the penitentiary. His friends are circulating a petition among a few influential people and it is said that quite a number of signatures have been secured here and in Great Falls. It is not known how soon the petition will be laid before the president.

23. July 7, 1908 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, July 7, 1908

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Two Characteristic Incidents in the Career of W. G. Conrad. ditorial in the Great Falls (From "Progressive Men of the State of Montana," by A. W. Bowen.) of May 31, 1908.) In addition to his cattle enterprises, oteworthy incident in the Mr. Conrad engaged in banking, tory of Mr. Conrad is not founding the First National Bank, of Fort Benton, of which he was presinown. In the early days dent during its existence. After some as made to commit the years of successful operation at Fort subsidy for a railread Benton this bank was removed to build into Montana. A Great Falls and the named changed It subsidy bonds to the to the Northwestern National bank, of which he and his brother were sole reillion and a half dollars, owners. In 1894 they sold the Boston bill exempting its propand Montana people one-fifth of this taxation for twenty-one stock and, at their request, R. 11. completion of the road, Hatcher was made cashier and acted fixed for such completion, as their representative. In December, 1896, Hatcher bought the balance of with good prospects the Conrad brother's stock for the Bosthe territorial legislature. ton and Montana people. Two months opposition to railroads later the bank was closed, and the was far from popular, people of Northern Montana well know what then happened. It takes over were ready to grant twenty years to grow men, and as to get a railroad. It was many more to try them to see if they are men. When the wires flashed the Mr. Conrad's far-sighted news to W. G. Convad, then at White dgment asserted itself In Post, Va., the Fumediate message that came back WESLTH want every deposof the people, and he led itor paid in full." in this telegram he aimst the grasping railroad also asked Janies T. Stanford to act as receiver. Mr. Conrad went to Washto mortgage the future of ington, had Stanford appointed, and territory, making the monot only the people of Montana, but feated the measures. When all the bankers of the United States, know how well and quickly the deposthat the proposed subitera got their money. When asked with interest would now why he did this, Mr. Conrad replied: about $13,900,000 and that "The people deposited their money in from taxation for twen account of my connection with this