11376. First National Bank (Helena, MT)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 1649
Charter Number: 1649
Start Date: July 27, 1893
Location: Helena, Montana (46.593, -112.036)

Metadata

Model: gpt-5-mini
Short Digest: 4c975aab

Response Measures

Capital injected, Full suspension, Books examined

Other: Consolidation with Helena National in Dec 1894 (capital injection/reorganization). Comptroller placed an examiner in charge after 1896 failure; receiver appointed for related small bank after 1896 failure.

Description

Contemporary articles show a run and suspension during the summer panic of 1893 (banks failed to open July 27, 1893), followed by a resumption of business Jan 22, 1894. The bank later consolidated (Dec 1894) and ultimately failed/was placed in receivership in Sept 1896; that later failure is recorded here as a receivership event but the initial episode corresponds to a run → suspension → reopening (classified accordingly).

Events (5)

1. July 27, 1893 Run

Cause: Macro News
Cause Details: Stringency of the money market and the wider financial panic of summer 1893 precipitated heavy withdrawals and runs in Helena.
Measures: Failed to open; suspension of payments (see suspension event same date).
Newspaper Excerpt: The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city.
Source: newspapers

2. July 27, 1893 Suspension

Cause: Macro News
Cause Details: Institution closed at start of panic; inability to open caused by drain on cash and money-market stringency during the 1893 panic.
Newspaper Excerpt: The First National and Montana National banks failed to open this morning.
Source: newspapers

3. January 22, 1894 Reopening

Newspaper Excerpt: As previously announced the First National bank of Helena will resume business this morning after being closed since the financial panic of last summer. ... the bank opens with more than $500,000 cash on hand and in other banks, a sum many times in excess of demand liabilities.
Source: newspapers

4. December 6, 1894 Other

Newspaper Excerpt: The First National and the Helena National Banks have been consolidated and the new bank will take the name of the First. ... It reopened under agreement with depositors to take deferred certificates.
Source: newspapers

5. September 4, 1896 Receivership

Newspaper Excerpt: The failure of the First National Bank of this city was announced this morning by the posting of a notice that the bank was unable to meet the withdrawals demanded of it. The notice was signed by E. D. Edgerton, vice president and manager, who says creditors will be paid in full. ... Comptroller Eckels has placed Bank Examiner Flynn in charge of the bank.
Source: newspapers

Newspaper Articles (23)

1. July 28, 1893 Morning Journal and Courier New Haven, CT

Article from Morning Journal and Courier, July 28, 1893

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MONTANA BANKS CLOSED. A Run in Progress at Helena-Assignments of Business Men-Other Banks Fail to Open Their Doors. HELENA, Mon, July 27.-The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city. C. W. Cannon, a local dealer in real estate, assigned yesterday. He wasa large endorser on corporation paper, and stringency of the money market caused the assignment. The liabilities are $240,000; assets, $1,500,000. A M. Halper also made a personal as signment. He, too, was a heavy endorser of corporation paper. His liabilities are $600,000; assets, $1,000,000. The Halper Hardware company, of which he is president, is not affected by the assignment. MOUNT STERLING, Ky., July 27.-The new Farmers' bank here failed to open its doors this morning, owing to a heavy run during the past week. All depositors will be paid in full. The capital stock is $250,000, and the bank was supposed to be one of the strongest in Kentucky. EXETER, N. H., July 27.-The National Granite State bank temporarily suspended payment this morning. The institution is declared by officials to be perfectly sound, the present embarrassment having been caused by a drainage of the cash supply and delayed remittances from Boston. An immediate resumption of business is expected. PORTAGE, Wis., July 27.-The City bank closed its doors this morning. The suspension is due to the condition of the money market. PORTLAND, Ore., July 27.-The Oregon National bank and the Northwest Loan & Trust company of this city suspended this morning. George B. Markle is president of both institutions. The capital stock of the Oregon National is $200,000; surplus, g $40,000; average deposits $500,000. Capiy tal stock of the Northwest Loan & Trust company $250,000; surplus $25,000. Rev. O. D. Taylor, manager of the In8 terstate Investment company at The Dalles has been arrested on a charge of embezzlement. It is alleged that Taylor is short $50,000 in his accounts.

2. August 2, 1893 The Star Reynoldsville, PA

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LATE TELEGRAPHIC JOTTINGS BOTH FROM HOME AND ABROAD. What is Going On the World Over. Important Events Briefly Chronicled. Financial and Commercial. MORE BANKS ARE REOPENING.-The comptroller of the currency is advised that the Hutchinson national bank of Hutchinson, Kan., which failed sometime ago, is preparing to resume business. The First National Bank of Cisco, Tex., which suspended, has been permitted to reopen its doors. Business men of Pueblo, Col., declared their faith in Colorado's business stability and denounced the intemperate language of the rabid silverites. Parkhust & Wilkinson, iron merchants, Chicago, assigned. Assets estimated at $1,000,000. Ripley & Bronson, :iron merchants. St. Louis, assigned. assets $150,000; liabilities about the same. The suspended Queen City Ban's, Buffalo, N.Y., will resume business the first week of August with a capital reduced to $300,000. At Findlay, O., the Farmers National Bank closed its doors. Depositors will be paid in full. The J. Oberman Brewing Company, Milwaukee, assigned. The bank panic at Milwaukee is over. Financial disturbances at Louisville, Ky., are over. In the banks every depositor who wanted his money got it. Some of the suspended banks, it is said, will soon resume. At Lacrosse, Wis., the private bank of John Dienlokken has closed its doors. At Portage, Wis., the German Exchange Bank has failed, At Helena, Mont., the First National bank and the Montana National bank suspended. Both has ample assets and will pay in full. At Middlesborough, Ky., the First National Bank has closed its doors. At Portland, Ore., the Oregon National Bank and the Northwest Loan and Trust Company suspended. At Spokane, Wash., the First National Bank, paid up capital $200,000, and the Spokane Savings Bank, its dependent. tem. porarily suspended. At Portage, Wis., the City Bank closed its doors. At Mt. Sterling, Ky., the Farmers' bank closed its doors.

3. January 22, 1894 The Helena Independent Helena, MT

Article from The Helena Independent, January 22, 1894

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FIRST NATIONAL OPENS. The Pioneer Bank of Montana Again Doing Business. As previously announced the First National bank of Helena will resume business this morning after being closed since the financial panic of last summer. All the preparations have been made and the doors will swing open at ten o'clock. The bank is all in order to do business with all its functions, including the United States depository and other privileges restored by the comptroller. As Special Examiner Lynch officially stated a few days ago the bank opens with more than $500,000 cash on hand and in other banks, a sum many times in excess of 1.3 demand liabilities. The opening of this old institution will be hailed with delight by our citizens. The last vestiges of the summe.'s panic have now departed.

4. February 2, 1894 Shenandoah Herald Woodstock, VA

Article from Shenandoah Herald, February 2, 1894

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South and West. ALL the banks of Helena, Montara, which closed during the financial panic 11st summer are new open. The First National Bank of Helena during the first day received deposits aggregating $200,000. A BLIZZARD raged in Kansas and other Western States. MRS. ANNA LINDGREN was crushed to death at Chicago, Ill., while struggling for bread at a relief station. Her husband was too weak to go into the crowd and her children were starving. A BAND of train robbers was captured by police in the Indian Territory ; one of the gang was killed and another mortally wounded. THE Mirz and Daniels brothers fought to the death in Arkansas. of the four three were killed. MR. AND MRS. GUSTAVE P. TYSON and Miss Minnie Chapman, teachers in the Sac and Fox Indian School. at Guthrie, Oklahoma, were drowned while attempting to ford Deep Fork Creek. FIFTY conviets confined in the branch State prison at Coal Creek. Tenn., escaped by crawling through the bars of the water gate leading into the stockade. Two earthquake shocks were felt in Annapolis, Md. By a Supreme Court decision in Minnesota 500 inmates of insane asylums may be released,

5. December 7, 1894 The Morning Call San Francisco, CA

Article from The Morning Call, December 7, 1894

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MONTANA'S GREAT BANK. — Once More a Power in the World of Finance. HELENA, Mont., Dec. 6. - The First National and the Helena National Banks have been consolidated and the new bank will take the name of the First. The First is the great bank that has given Montana renown in the financial world, but the panie caught it and for a few weeks it was closed. It reopened under agreement with depositors to take deferred certificates. Under the terms of the consolidation the stock of the First National Bank will be $800,000 and the undivided profits $200,000. The general balances of the new institution will be very little short of $5,000,000. Ex-Governor Hauser will continue to be president, Hon. E. D. Egerton will be general manager and George F. Cope, cashier.

6. December 7, 1894 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, December 7, 1894

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BANKS CONSOLIDATE, First National and Helena National Get Together. Helena, Mont., Dec. 6.-The First National and the Helena National banks have consolidated and the new bank will take the name of the First. The First is the great bank that has given Montana renown in the financial world, but the panic caught it and for a few weeks it was closed. It reopened under an agreement with the depositors to take deferred certificates. Under the-terms of the consolidation, the capital stock of the First National bank will be $800,000 and the undivided profits $200,000.

7. December 7, 1894 San Antonio Daily Light San Antonio, TX

Article from San Antonio Daily Light, December 7, 1894

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A Strong Consolidation. HELENA, Mont., Dec. 7.-The First National and the Helena National banks have been consolidated and the new bank will be known as the First National. The First is the great bank that has given Montana renown in the financial world, but the panic caught it and for a few weeks it was closed. It reopened under agreement with depositors to take deferred certificates. Under the terms of the consolidation the capital stock of the First National will be $8 0.000 and the undivided profits $200,000. The general balance of the new institution will be very little short of $5,000,000. Ex-Governor Hauser will continue to be president, Hon. D. Edgerton will be vice president and general manager and Geo. F. Cooper cashier.

8. September 5, 1896 The Morning News Savannah, GA

Article from The Morning News, September 5, 1896

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Helena, Mont., Sept. 4.-The failure of the First National Bank of this city was announced this morning by the posting of a notice that the bank was unable to meet the withdrawals demanded of it. The notice was signed by E. D. Edgerton, vice president and manager, who says creditors will be paid in full. The directors refuse to talk and no statement of assets and liabilities has been made. It is said the failure is due to the banks inability to realize on assets to cover demands of eastern creditors. Heavy demands have been made on the bank for for the past week, it is said, and coming so close together caused trouble. The bank's capital and surplus is $1,000,000 and it is the United States depository with large United States funds on hand. Its officers are S. T. Hauser, president; E. D. Edgerton, vice president and general manager, and George Hill, assistant cashier. Its directors are among the strongest men in Helena. The failure was not a surprise to all, for it was current talk on the streets last night that it would not open to-day. The officials had tried to suppress the rumors, hoping that the bank might open, and if it did they wanted to avoid a run. The A. J. Davis estate, famous for the litigation over the millions left by Davis, owns 55 per cent. of the capital, and it was claimed here last night young A. J. Davis, whose possession of the stock, was a few weeks ago allowed by the claimants after a long fight, was coming from Butte with the cash to tide the bank over. Davis came, but the bank did not open. Vice President Edgerton says depositors will be paid in full. The failure of the bank caused no panic, the other banks being in good conditon. The First National failed in 1893.

9. September 5, 1896 The Wichita Daily Eagle Wichita, KS

Article from The Wichita Daily Eagle, September 5, 1896

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HADN'T THE MONEY TO PAY Helena, Montana, Bank Succumbs to the Demands of Depositors, Helena, Mont., Sept. 4--The failure of the First National bank of this city was announced this morning by the post ing of a notice that the bank was unable to meet withdrawals demanded of it. The notice was signed by E. D. Edgerton, vice president and manager, who says creditors will be paid in full. The directors refuse to talk and no statement of assets and diabilities have been made. It is said the failure is due to the bank's inability to realize on assets to cover demands of eastern creditors. Heavy demands have been made on the bank for the past week, it is said, and coming SO close together caused trouble. Vice President Edgerton said this afternoon that without doubt the assets would more than pay the depositors in full and leave something for the stock(holders. The way business is now, it will take quite a while to close up the affairs of the bank and realize on the assets. However, Comptroller Eckels has placed Bank Examiner Flynn in charge of the bank. The last statement published shows that at the close of business July 14, there was due to other banks, depositors and on checks outstanding, a total of $3,500,000. Loans and discounts were $3,500,000; stocks and securities $300,000; due from other banks and reserve agents $680,000. There were no signs of a run on any other banks.

10. September 5, 1896 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, September 5, 1896

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TWO HEAVY FAILURES FIRST NATIONAL BANK OF HELENA, MONT., FORCED TO CLOSE. Receivers for the J. B. Watkins Land and Mortgage Company, of Kansas-Liabilities, $4,250,000. HELENA, Sept. 4.-The failure of the First National Bank of this city was announced this morning by the posting of a notice that the bank was unable to meet withdrawals demanded of it. The notice was signed by E. D. Edgerton, vice president and manager, who says creditors will be paid in full. The directors refuse to talk and no statement of assets and liabilities has been made. It is said the failure is due to the bank's inability to realize on assets to cover demands of Eastern creditors. Heavy demands have been made on the bank for the past week, it is said, and, coming so close together, caused trouble. The bank's capital is $1,000,000, and it is the United States depository, with large United States funds on hand. Its officers are: S. T. Hauser, president; E. D. Edgerton, vice president and manager, and Geo. Hill, assistant cashier. Its directors are among the strongest men in Helena. The A. J. Davis estate, famous for the litigation over the millions left by Davis, owns 55 per cent. of the capital, and it was claimed here last night that young A. J. Davis, whose possession of the stock was a few weeks ago allowed by the claimants after a long fight, was coming over from Butte with the cash to tide the bank over. Davis came, but the bank did not open. Vice President Edgerton says depositors will be paid in full. The failure of the bank caused no panic, the other banks being in good condition. The bank failed in 1893.

11. September 15, 1896 The San Francisco Call San Francisco, CA

Article from The San Francisco Call, September 15, 1896

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RECEIPTS OF PRODUCE. FOR 24 HOURS. Flour, gr sks Butter. ctls 139 28,982 Oregon 6 3,552 Cheese, ctls Wheat, etls 157,413 Eggs: doz 14,520 Oregon 619 Hides, no 1,380 Barley, ctls 565 Pelts, bdis 18,562 Beans. sks 1.418 35,400 Wine, gals Oats, ctls 180 1,320 Wool, bis Oregon 585 444 Sugar, bbls Corn, Neb, ctls 20 1,510 Lumber, M feet. Potatoes. sks 116 5,554 Quicksilver, fisks Onions, sks 19 970 Leather, rolls Bran. sks 120 85 Lime, bbls Middlings, sks. 196 841 Alfalfa Seed, sks Hay, tons 1,000 2,000 Paper, reams PACIFIC COAST BONDS. The assessment against the stock of the Merchants' National Bank of Seattle has been canceled under a ruling of Judge Langley, in the Superior Court, and the county officers are restrained from attempting to collect it. The case is entitled Charles H. Baker, as receiver, against the County of Kings. From the complaint it appears that the Assessor added together the amount of the capital stock at its par value, the amount of the nominal surplus and undivided profit, making $227,000 in all, and then deducted from that amount real estate valued at $111,400, leaving a balance of $115,600. Following out this system of fixing valuations the Assessor finally assessed the bank for $69,360, against which the bank has been fighting. The Board of Equalization upheld the asessment on appeal, and the bank thereupon appealed to the Superior Court and won its case. L. P. Mathews, a citizen of Nebraska, has begun suit against Philip Tillinghast, as receiver of the Columbia National Bank, to restrain him from beginning any suit against the stockholders of the increased capital stock of the Columbia National Bank; also to require him to expunge the credit of the city of Tacoma to the amount $112,000. An injunction has been granted by Judge Gilbert, which holds good until to-day (the 15th inst.), on the representation that the receiver was about to declare a dividend, to the injury of the p. aintiff. Concerning the claim of the city of Tacoma, it is alleged that it is not valid or legal as against the banking association. which is in no manner indebted to the city, but that, on the contrary, the city is indebted to the bank in the sum of about $8000. This claim involves the history of the defalcation of G. W. Boggs, formerly Treasurer of the city of Tacoma, who deposited in the bank unpaid warrants of said city, supposedly, but which it was afterward demonstrated were worthless, they having actually been paid. The bank shows a credit of $104,000 in favor of the city, which if expunged would leave a balance of $800 in favor of the bank. The Tacoma savings Bank and Trust Company, the State Savings Bank and the German-American Bank have also filed suits of similar tenor against THiinghast as receiver. City Attorney Judson is of opinion that the Mathews suit will determine the validity of the outstanding warrants of the city, which it is now proposed to refund. The Helena (Mont.) Independent furnishes many particulars concerning the failure of the First National Bank of Helena, and says it was not wholly unexpected. Heavy withdrawals by

12. September 16, 1896 The Ravalli Republican Stevensville, Hamilton, MT

Article from The Ravalli Republican, September 16, 1896

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In a Receiver's Hands. Helen, Sept. 10.-Judge Buck today, on the petition of James T. Pronger, appointed Wm. T. Bickett of this city receiver of the Marvsville bank, which suspended as soon as the failure of the First National bank at Helena was announced. The bank was owned by the petitioner and E. 1). Edgerton and John Edgerton@who formed a copartnership in 1893. It was closely allied with the First National and its failure was due entirely to the suspension of of the latter. The liabilities of the bank are about $39,000 and the asThe bank sets an equal amount. began business on a set of books without capital..

13. September 24, 1896 The Pioche Weekly Record Pioche, NV

Article from The Pioche Weekly Record, September 24, 1896

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TELEGRAPHIC RESUME Things That Have Happened all Over the Country. SPOKEN OF IN THIS COLUMN. Selections,That-Will_Greaily,Interest our Readers Beth Old and Young. A New York man has been cured of lockjaw by the use of anti-toxine. The Cabinet has decided to send two battalions of marines to the Philippine Islands. Herron, Taylor & Co., wholesale grocers of Memphis, assigned; assets, $124,000; liabilities, $90,000. It is expected that the Orange and Santa Ana motor line will be extended to the railroad depots at Santa Ana. The Candee Company, one of the largest members of the United States Rubber Company, resumed operations the other day. A New York dispatch says W. L. Poll & Co., diamond dealers, have failed. The liabilities are $125,000, assets known. The Mutual National Bank of New Orleans has closed its doors. Henry Maspero is its president and James J. Tarleton cashier. The President has pardoned Oscar E. Hill, a Utah man sentenced to ten years for making false entries in the books of a national bank. Charles Bryan, cashier of the Detroit Custom-house, was arrested last week for embezzlement. His shortage, to which he has confessed, 18 about $3600. Maj. Thaddeus S. Clarkson, of Omaha, was elected Commander-inchief of the G. A. R. at the thirtieth annual encampment held in St. Paul. About $25,000 worth of express matter and the United States mail, bound for Chicago via the Lake Shore road, from New York, has been destroyed by fire. General Miles has written a book entitled "Personal Recollections and Observations of General Nelson A. Miles, Embracing a Brief Review of the Civil War.' Senator Tillman is accused of having appropriated to his own use, while Governor of South Carolina, the rebate allowed by liquor dealers on liquor furnished the State dispensary. Five hundred mechanics of various trades have a strike at the large store building of Siegel, Cooper & Co., of New York, on account of the employment of non-union marble-workers. North American Review, published in New York, has been changed. David Monroe, who has been connected with the publication for the past seven years, is the president and treasurer of the new company. Chauncey M. Depew has denied a report that there was friction between himself and W. K. Vanderbilt, and that in the event of Mr. McKinley's election he would resign the presidency of the New York Central to accept a Cabinet or diplomatic position. A Columbus (0.) dispatch says the Columbus Central Street Railroad Company was thrown into the hands of a receiver, George H. Worthington being appointed. The trouble was precipitated by Michael Degnot, who built the road. Business was light. The road is new and occupies new territory, the old line having the best streets. A Kingston, N.Y., dispatch says the consecration of the new altars of St. Mary's Church in that city recently was a notable event in the history of that important Roman Catholic parish. Archbishop Corrigan celebrated high mass at the early service, and officiated at the consecration ceremony later. The sermon was by Bishop John Shanley of North Dakota. Hundreds were unable to get into the building. A dispatch from Helena, Mont. says the failure of the First National Bank was announced the other morning by posting a notice in the window that the bank is unable to meet withdrawal demands made on it. The notice was signed by E. D. Edgerton, vice-president and manager, who says the creditors will be paid in full. The directors refuse to talk and no statement of assets and liabilities was made. It is said the failure was due to the bank's inability to realize on the assets to cover the demands of eastern creditors. Heavy demands have been made on the bank in the past week, and all coming SO close together caused the trouble. The Smithsonian Institute has just celebrated fifty years of existence. While there will be no public demonstration, the regents have ordered an issue of a valuable work containing the achievements and history of the great seat of science. They will also erect tablets in honor of its founder, who was an Englishman, who bequeathed his property to the United States to found at Washington, under the name of the Smithsonian Institution, an establishment for the increase and diffusion of knowledge among men. James Lewis, who afterward assumed the name of Smithson, son of the first Duke of Northumberland, was the founder of the institution, and by his

14. October 27, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, October 27, 1896

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HELENA BANKS. A Startling Rumor That Many of Them Were on the Verge of Collapse Is Denied. (Special to The Herald.) BUTTE, Mont., Oct. 26.-The startling rumor that several additional banks in Helena were on the verge of collapse was circulated in business circles today, but the following special received in Butte this evening indicates that the runs on the banks is not so serious as reported: "The run on the Merchants' Nationl bank, which began last week, has almost abated, and the institution is meeting every demand, and claims it will hold out till every depositor is paid in full. The Montana National had a little run for a day or two, but as the depositors soon found out it was invulnerable, and had more money than depositors could possibly call for, they soon got tired and quit. The trouble all grew out of the distrust created by the failure of the First National of Helena, and the methods of the management of that institution. It advertised to pay interest and accented deposits from all over Montana, and as far off as Minnesota, and when it had corralled all the loose money it could expect, it failed because the Northern Pacific drew out a paltry $60,000. "One man in Beaverhead county had $60,000, every dollar he had on earth, deposited in that institution.

15. January 12, 1897 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, January 12, 1897

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TRIAL OF BANKERS IT MAY NOT TAKE PLACE BEFORE SPRING. Judge Knowles Does Not Want to Preside, and It's Difficult to Get "Sub." Special Dispatch to the Standard Helena, Jan. 11.-There is a prospect that the trials of Vice President and Manager and Receiver Edgerton of the late First National bank, and of Former Director E. D. Beattle and Late Assistant Cashier George H. Hill of the same Institution, will not take place until late in the year. and, indeed. that the hearing of the motion to quash the indictments against them recently interposed and set for hearing to-day may not come out until late in the spring. The probability that there will be a delay was made apparent yesterday when Judge Knowles announced that the case had been "passed generally. Judge Knowles said to-day that there was some prospect that Judge Bellinger of the Oregon district would be the man to proside when the hearing was had. Judge Beattle of Idaho, who was asked by Judge Knowies to preside, did not want to come, and Judge Gilbert, who presides over the Ninth circuit, and who could assign any judge in the circuit to the duty, said that he had made gome effort to persuade Judge Beattle to come. but unsuccessfully. It is said that Judge Beattle lost a large sum in a bank failure and feels deeply on that subject Judge Beliinger. Judge Gilbert wrote, would be required to go to San Francisco on duty at the hearing of the circuit court of appeals and be did not believe be would be able to come to Helena before some time in March or April So. unless Judge Beattle changes his determination there is a prospect of a long delay ahead in the bank eases. Judge Knowles' reasons for not dealting to officiate are his connection with the First National bank of Butte, of which he is president and which had intimate relations with the First National bank of Helena.

16. February 19, 1897 Shoshone Journal Shoshone, ID

Article from Shoshone Journal, February 19, 1897

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Salt Lake City, Feb. 15.-A special to the Salt Lake Tribune from Helena, Mont., says: The suspension of the Merchants National bank on Saturday the 13th Inst., may bring about a public Investigation to Inquire more closely Into the factsleading up to the failure. This Inquiry will not be by process of law, but by Indignant citizens. With the exception of a certain class, the fallure of L. H. Hershheld banks is looked upon as one of the reatest outrages perpetrated on the citizens of this State. Ever since the First National bank of this city falled, rumors have been current not only In this city but throughout the State that the Merchants' was unsound. The First National failed six months ago, and these rumors have not been allowed to die in the meantime. The result was that money was continu. ally withdrawn by the effect of the rumors and by persuamon, until the time came when Mr. Hershneld was compelled to close to save his depositors, who will get 100 cents on the dollar. President Marlowe of the Montana National bank of this city says the Merchants' bank is perfectly sound and need not have shut down had It been left alone for a week or two and been given an opportunity to realize on its assets, The fact that It stood a run for six months shows that It was sound In the first place. The citizens of Helena are Incensed that some of its citizens would circulate rumbers and be so persistent in this as to break a bank. When once the t investigation is started, no stone will be unturned to find out who started the rumors, and to punish the origin tors. t

17. May 27, 1897 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, May 27, 1897

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# The Hope Mine in Montana. Lee J. Pitner, president of the Hope Mining company, was in the city this week, says the Butte Miner. He said: "The Hope mine, which is one of the best mining propositions in the state of Montana, has again been flooded, the pumps having been pulled by orders of the receiver for the First National bank in Helena. The bank now holds the property on a mortgage foreclosure, and of course not intending to operate it the expense of keeping it pumped out was not allowed to go on. The mine cost $96,000 in cash in six months while it was being operated by P. A. H. Franklin. Mr. Franklin was not a mining man, and did not know anything at all about the business. I am now endeavoring to get possession of the property for the benefit of the stockholders, and if I succeed we will have money to pay off all the indebtedness of the company and go ahead and successfully operate the mine. The property is a good one, and it has always been handicapped with very bad management. I am hopeful of seeing the property successfully operated again soon.

18. June 25, 1897 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, June 25, 1897

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# MONTANA. The Park Opera House at Livingston was destroyed by fire last Tuesday. Sun river, near Great Falls, was visited by a cloud burst last Tuesday. The Sun river dairy was badly damaged and the Montana Central track was washed out in six places. The Sun river rose three feet in an hour. J. Hugh Adams, a switchman in the Misscula yards was run over and instantly killed last Tuesday. William R. Gallagher was badly injured by a fall of ground in the St. Lawrence mine at Butte Tuesday morning. Several of his ribs were broken and he also sustained some severe internal injuries, but it is thought that he will recover. The Helena Independent changed hands last Tuesday. It was one of the assets of the suspended First National bank and was offered for sale several months ago. The purchasers are eastern parties, but their names are not given out. The Independent has been an ably conducted free coinage paper and it is feared that it has fallen into the hands of gold bugs. The Helena city council knocked the gold clause out of a proposed bond issue and inserted "lawful money." The councilmen are determined that no bonds payable in gold shall be issued.

19. July 5, 1897 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, July 5, 1897

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MONTANA. The district court at Great Falls has decided that sheriffs may charge mileage at the rate of 10 cents per mile for transporting insane persons to the asylum. Fred McKay, a hostler in the employ of the Northern Pacific at Wallace, fell under an engine and lost a leg. The management of the Montana railroad has decided to put on a daily train service. Harvey Barbour of Helena has brought suit against Andrew J. Davis of the First National bank of Butte for 5,365 shares of stock in the Helena and Frisco Mining company, valued at a total of $53,650, and for a receiver's receipt issued by the receiver of the First National bank of Helena, valued at $1,475. He claims that they are his personal property, that Davis took them in trust for him, and refuses to give them up. Captain John McCornick of Butte had a narrow escape from suffocation early last Friday morning. The wardrobe in his room was all ablaze when he awoke and in a few minutes more he would have been cremated.

20. July 9, 1897 Shoshone Journal Shoshone, ID

Article from Shoshone Journal, July 9, 1897

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# NORTHWEST NOTES. Pioneer B. F. Leete, of Reno, Nevada is dead. William J. McConnell of Idaho has been nominated for Indian inspector. The management of the Montana railroad has decided to put on a daily train service. The Helena Water company threatens to shut off the city's water unless back accounts are settled up. Fred McKay, a hostler in the employ of the Northern Pacific at Wallace, fell under an ergine and lost a leg. Vaso Bielich, a miner employed at the Oriental mine at Butte was caught betwen the cage and timber and instantly killed. Cattlemen say there will not be the increase of stock this year that was expected. The continued spring rains killed many of the young calves. Santos Lugo, the notorious horse-thief, who has stolen over 1,000 horses during his career of outlawry, has been captured in California, and taken to Hanford. The district court at Great Falls, Mont., has decided that sheriffs may charge mileage at the rate of 10 cents a mile for transporting insane persons to the asylum. Frank Benton, one of the most prominent cattlemen of Wyoming, recently bought 9,000 head of cattle, 6,500 of which will be fattened on Wyoming ranges. Judge Allen at Denver has granted an order permitting Frank C. Young, assignee of Maxey Tabor, to join with the co-owners in leasing the Montgomery mine at Leadville. The assignee was also authorized to pay the delinquent taxes of 1894-5-6. The discovery of coal about four miles southeast of Garlock, Nevada, is raising an excitement in that region. The discoveror has bonded a mine for $15,000. The coal is bituminous, and of good quality. Plans are being consummated for the erection of a smelter in which the coal is to be used. The tide of immigration which set in early in the spring towards Big Horn county, Wyoming, is increasing in volume as the summer months advance. Every day in the week at present sees several prairie schooners wending their way throug the valleys hauling home-seekers, most of whom are well equipped for making a good start in a new country. Through the carelessness of herders four bands of sheep belonging to the Platte Valley Sheep company, Patterson & Stanley and McDermott & Moran, became mixed on the range near Douglass, Wyoming. The sheep number about 10,000, are unmarked and about half of them are lambs, making the mix-up a very serious matter for the owners. The United States land office at Helena is after a number of prominent persons in Flathead county on the charge of making fraudulent proofs on land. Already it is said that three citations, which are practically warrants, have been issued, and parties have been summoned to Helena to explain. The charges, it is said, include that of perjury and will be filed, in all, against about fifteen persons. Harvey Barbour of Helena has brought suit against Andrew J. Davis of the First National bank of Butte for 5.365 shares of stock in the Helena and Frisco mining company, valued at a total of $53,650, and for a receiver's receipt issued by the receiver of the First National bank of Helena, valued at $1,475. He claims that they are his personal property, that Davis took them in trust for him, and refuses to give them up. Mrs. W. D. Coppernall, wife of a prominent attorney at Belt, Mont., arrived at Great Falls the other night and solicited aid to get to Helena before her husband should overtake her. She came into the city on a coal train and was endeavoeing to hide until she could raise the money to get away. Mrs. Coppernall tells a story of abject cruelty and stated that she was compelled to flee from her home to escape bodily harm. She was furnished aid to continue her journey. Achille F. Migeon and Franklin Farrell have filed a suit in the United

21. February 15, 1898 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, February 15, 1898

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# CIRCUIT COURT OF APPEALS. One Decision Affects the First National Bank of Helena. San Francisco, Feb. 14.-Judges Ross, Gilbert and Morrow, in the United States circuit court of appeals this morning rendered several decisions in cases on appeal from Washington, Montana and other parts of the circuit. In the case of D. Albert Hiller and Sarah F. Hiller, his wife, plaintiff and appellants, vs. Caroline A. Ladd et al., as executors of the last will and testament of William S. Ladd, deceased, judgment was rendered against the appellants, affirming the decree of the circuit court.. In the case of the Farmers' Loan & Trust company and the Northern Pacific railroad vs. the Fidelity Trust company, the judgment of the circuit court in favor of the Fidelity Trust company was reversed, Judge Hawley dissenting. In the case of William Grossett vs. H. C. Townsend, the decree of the circuit court was reversed. The same fate befell the decree of the circuit court in the cases of Isaac Moreland vs. J. Sam Brown, as receiver of the First National bank of Helena, and the Thames and Merzy Marine Insurance company vs. Mary O'Connell, administratrix of the estate of Thomas O'Farrell, deceased. From the last decision Judge Gilbert dissented.

22. February 26, 1898 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, February 26, 1898

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THE FACTS MAY COME OUT A CASE AGAINST THE FIRST NATIONAL OF HELENA. One of the Most Interesting Cases Growing Out of the Failure of the Institution, Special Dispatch to the Standard. Helena, Feb. 25.-A trial that bids fair to be among the most interesting of the several litigations growing out of the failure of the First National bank of this city, came on in department 1 of the district court to-day. The entire day was devoted to the selection of a jury, and just before court was adjourned the 12th man was secured. The regular panel of jurors and two special venires were nearly exhausted before a jury suitable to both sides was had. Forty-five talesmen in all were put through a searching examination. Twenty-two of these were disqualified. either because they owed the bank or the bank owed them, or they had interests with the plaintiffs. One man. a populist member of the legislature of 1895, was promptly excused for pronounced bias: he was opposed to national banks on general principles. Interest in the outcome of the case is heightened because it involves the proposition of a debtor to a suspended bank, who is also a creditor. effecting an offset. The title of the case is Stadler and Kaufman vs. the First National bank of Helena and the First National bank of Butte. The case has been hanging fire ever since the bank closed. It was removed to the federal court once and remanded by Judge Bellinger. July 18, 1896, the plaintiffs, who had about $14,000 on deposit in the bank in the shape of certificates of deposit, borrowed $6,000 on their note. Atter the bank closed they learned upon inquiry that the note had been transferred to the First National bank of Butte, and that that institution was about to commence an action for its collection. They at once brought suit against both banks for the note's cancellation. After nearly a year's battling with the technicalities, the case now comes on for trial. Cullen and Day appear for the plaintiffs and William Wallace and exGovernor Carpenter for the defendants. It is anticipated that something of the unwritten history of the wrecked concern will be brought out before the trial is ended.

23. August 4, 1898 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, August 4, 1898

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United States Court. Special Dispatch to the Standard. Helena, Aug. 3.-Judge Knowles to-day listened to arguments for a modification of the injunction in the case of the St. Louis Mining and Milling company vs. the Montana Mining company, and upon a motion in the case of Montana vs. the First National bank of Helena, Judgment was reserved in the former case. In the latter the ruling was against the bank, being in effect that the bank must pay the plaintiff interest as well as principal of a draft in transit the day of the suspension. This case has been to the circuit court once. The court has signed the order to show cause in the Mayor Edwards contempt case but has not fixed a time for hearing the petition.