Chadron Banking Company (Chadron, NE)

Episode Information

Episode Type
Suspension → Closure
Start Date
April 12, 1896
Location
Chadron, Nebraska (42.829, -103.000)
Bank Type
trust

Metadata

Notes

President arrested after receivership; articles report insolvency and receiver appointment.

Events (2)

1. April 12, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors amid undisclosed financial condition; officers declined to give estimate of resources and liabilities, indicating insolvency.
Newspaper Excerpt
The Chadron Banking Company, the oldest banking institution in this city, closed its doors yesterday morning.
Source
newspapers
2. April 30, 1896 Receivership
Newspaper Excerpt
Judge W. H. Westover to-day appointed A. A. Record of this city receiver of the Chadron Banking Company. The report of the bank examiner shows that a number of persons owe the bank, which will probably be lost.
Source
newspapers

Newspaper Articles (12)

Article from New-York Tribune, April 13, 1896

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TELEGRAPHIC NOTES

Akron, Ohio, April 12.-John Smith, the self-confessed murderer of the Stones, was arraigned in the jail here yesterday afternoon by Justice A. W. Hall. Smith entered a plea of "not guilty." The preliminary examination was set for next Tuesday. Chadron, Neb., April 12.-The Chadron Banking Company, the oldest banking institution in this city, closed its doors yesterday morning. A. C. Putnam is president. Officers of the bank decline to give any estimate of the resources and liabilities. Corning, N. Y., April 12.-Walter E. Bidler, aged ten years, living at Cooper's, a few miles west of here. committed suicide last night. He took a double-barrelled shotgun and put the charge through his side. The day before he told his schoolmates that It was his last day of school, as he intended to kill himself. Louisville, Ky. April 12.-The Lexington and Carter Mining Company. owning 10,000 acres of land in Carter County and capitalized at $300,000, was yesterday placed in the hands of the Columbia Finance and Trust Company as receivers, on application of employes, who are suing for wages, said to be overdue. The debts, it is said, will reach $50,000. but the receivers expect to put the concern on its feet in a short time. Cleveland, April 12.-At 2 o'clock this morning fire broke out in the Gehring apartment-house, on Murison-st. Forty families live in the building. and as they rushed pell-mell for the fire escapes and stairways, a wild scene of confusion ensued. Mary Cox, a waitress, aged seventeen. was cut off from the fire-escape. With her nightgown and hair in flames she jumped to the sidewalk, breaking her arm and receiving other severe injuries. Mrs. John Berlotuccia jumped from the second story and was badly bruised. James Kinswater fell through a burning floor and was seriously injured.


Article from The San Francisco Call, May 1, 1896

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Receiver of a Bank

CHADRON, NEBR., April 30.-Judge W. H. Westover to-day appointed A. A. Record of this city receiver of the Chadron Banking Company. The report of the bank examiner shows that a number of persons owe the bank. which will probably be lost. The deposits amount to $20,000, of which there is $4000 county funds.


Article from The Herald, May 18, 1896

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A Banker Arrested OMAHA, Neb., May 17.-A special from Chadron, Neb., to the Bee says: A. C. Putman, president of the Chadron Banking company, which went into a receiver's hands recently, was arrested today for receiving money when he knew the institution was insolvent. Creditors declare that Putman has wealthy relatives at Fredonia, N.Y., who are ready to make good all losses.


Article from Kansas City Daily Journal, May 18, 1896

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Nebraska Banker Arrested

Chadron, Neb., May 17.-A. C. Putnam, president of the Chadron Banking Company, which went into a receiver's hands recently. was arrested to-day for receiving money when he knew the institution was insolvent. Creditors declare that Putnam has wealthy relations at Fredonia, N. C., who are ready to make good all losses.


Article from San Antonio Daily Light, May 18, 1896

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Bank President Arrested

CHADRON, Neb., May 18.-A. C. Putman, president of the Chadron Banking company, which went into a receiver's hands recently has been arrested for receiving money when he knew the insolvency of the institution. Creditors declare that Putman has wealthy relatives at Fredonia, N. Y., who are ready to make good all losses.


Article from The Providence News, May 18, 1896

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His Relatives May Settle

CHADRON, Neb. May 18.-A. C. Putnam, president of the Chadron Banking Company, which went into receivership and recently. has been rrested charged with receiving money when be knew the institution was insolvent. Creditors declare that Putnam has wealthy relations at Fredonia, N. Y., who are ready to make good all losses.


Article from Evening Star, May 19, 1896

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Bank President Arrested

A. C. Putnam, president of the Chadron, Neb., Banking Company, which went into a receiver's hands recently, has been arrested for receiving money when he knew the institution was insolvent. Creditors declare that Putnam has wealthy relations at Fredonia, N. Y., who are ready to make good all losses.


Article from The Evening Herald, May 19, 1896

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Another Crooked Banker Arrested

CHADRON, Neb., May 19.-A. C. Putnam president of the Chadron Banking com pany, which went into a receiver's hands recently, has been arrested for receiving money when he knew the institution was insolvent. The creditors declare that Mr Putnam has wealthy relations at Fredonia N. Y., who are ready to make good all the losses.


Article from The Madison Daily Leader, May 19, 1896

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Nebraska Banker Arrested

CHADRON, Neb., May 19.-A. C. Pitman, president of the Chadron Banking company, which went into a receiver's hands recently. has been arrested for receiving money when he knew the institution was insolvent.


Article from The Pioneer Press, May 28, 1896

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Miscellaneous.

Rockford (Ill.) society women, in the interest of charity, ran all the electric cars of the city for a day.

Gov. Morton has signed the bill of Assemblyman Austin authorizing an increase in the New York police force of 600 patrolmen.

Mrs Catherine Alice Tingley of New York is now the recognized successor of the late W. Q. Judge as the head of the Theosophical society.

Dresser & Goodrich, commission merchants of New York, through their lawyers, have attached the Goodrich Rubber company, Newport, R. I., for $168,000.

A. C. Putnam, president of the Chadron Banking company of Chadron, Neb., which went into a receiver's hands recently, was arrested for receiving money when he knew the institution was insolvent.

J. C. McNew of Kokomo, Ind., bought a suit to be buried in. Before reaching home the same evening he was injured by a horse and he died from the wounds. He was 87 years old and a prominent citizen.

Morris Pront, the 19-year-old son of Herman Pront of 205 Delancey street, New York, has been unconscious, apparently sleeping, for the past twenty-one days, and so far shows no signs of awakening.

Among the passengers on the steamship China, bound for San Francisco, is a special commission from the Mikado of Japan to study the working of electrical power and the telephone systems in the United States.


Article from The Princeton Union, May 28, 1896

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Miscellaneous.

Rockford (Ill.) society women, in the interest of charity, ran all the electric cars of the city for a day.

Gov. Morton has signed the bill of Assemblyman Austin authorizing an increase in the New York police force of 600 patrolmen.

Peter McNabb, a fern gatherer of Columbus, Ohio, found in his wanderings through a forest what seems to be the petrified remains of a man.

Mrs Catherine Alice Tingley of New York is now the recognized successor of the late W. Q. Judge as the head of the Theosophical society.

Sixteen hundred dollars was raised in St. Louis in one day among the business men of the city for the relief of those who had suffered from the cyclone in Texas last week.

Mrs. B. F. Young of Cincinnati has passed the examination required by the United States government for a first mate's license. She is the only woman with this distinction.

Dresser & Goodrich, commission merchants of New York, through their lawyers, have attached the Goodrich Rubber company, Newport, R. I., for $168,000.

The twenty-fifth annual meeting of the American Fisheries society, which is composed of members of the fisheries commissions of the various states, began in New York.

A. C. Putnam, president of the Chadron Banking company of Chadron, Neb., which went into a receiver's hands recently, was arrested for receiving money when he knew the institution was insolvent.

J. C. McNew of Kokomo, Ind., bought a suit to be buried in. Before reaching home the same evening he was injured by a horse and he died from the wounds. He was 87 years old and a prominent citizen.

John Clarke, an employe of the Illinois Eastern Hospital for the Insane at Kankakee, has received word from his solicitors in England that he had fallen heir to an estate valued at over $100,000.

While Dr. A. H. Bradford of Mont Clair, N. J., was offering prayer in Bettell chapel, Yale, a beautiful green snake, about three feet long, created a scene in the center aisle. Students had placed it there.

Morris Pront, the 19-year-old son of Herman Pront of 205 Delancey street, New York, has been unconscious, apparently sleeping, for the past twenty-one days, and so far shows no signs of awakening.

Among the passengers on the steamship China. bound for San Francisco, is a special commission from the Mikado of Japan to study the working of electrical power and the telephone systems in the United States.


Article from Hopkinsville Kentuckian, January 8, 1897

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CHRONOLOGICAL.

Brief Notes of the More Important Happenings of 1896.

THE YEAR AT HOME AND ABROAD.

Financial and Industrial Interests—Notable Disasters of Various Kinds—Crimes and Lynchings—The Political Arena—Sportsman's Column.

BUSINESS FAILURES.

BANKS GENERALLY — INCLUDING VOLUNTARY SUSPENSIONS.

Jan. 11—Exchange, Greeley Center, Neb. Fifth Avenue savings, Columbus, O. Jan 13—Bank of Ogalalla, Neb. Jan. 14—Banks at Blue Springs and Stratton, Neb. Jan. 15—Bank of Wauneta, Neb City bank, Minneapolis. Jan. 16—Irish-American, Minneapolis. Jan. 17—Farmers' national, Portsmouth, O. Jan. 20—Bank of Commerce, Grand Island, Neb. Feb. 5—At Momence, Ill., bank of Wilton M. Durham Maurice, Ia., State Citizens', Connersville, Ind. Feb. 14—Exchange, Flemingsburg, Ky. Feb. 17—McCague savings, Omaha. Mar. 3—Central Trust and Savings, Chicago. Mar. 6—Bank of Frankfort, Mich Malachi Maynard's, Apple River, Ill. Mar. 9.—Sherman county, Goodland, Kan. Bloomfield (Neb.) State Commercial and Savings, San Jose, Cal. Mar. 27—Midway (Ky.) Deposit. Mar. 30—First national, Morris, Minn. Apr. 4—Farmers', Decatur, Ill. Apr. 11—Chadron (Neb.) Banking Co. Apr. 16—First national, and Liberty savings, Bedford City, Pa. Apr. 22—American national, Denver, Col., $865,231. Apr. 24—Grand Forks (N. D.) national. May 1—City savings, Hot Springs, Ark Bank of Fairland, Ill. May 7—Citizens', Union City, Ind. May 14—Sumner national, Wellington, Kan. May 19—Citizens', Edwardsburg, Mich. May 25—National, Jefferson, Tex. May 28—Bank of New England, Manchester, N. H. June 2—Bank of Maroa, Ill. June 3—Farmers' deposit, Creighton, Mo. June 11—John A. Thompson's bank, Edinburg, Ind First national, Larned, Kan. June 16—First national, and Bank of Cheney, Cheney, Wash. June 25—Security savings, Winchester, N. H Hinsdale (N. H.) savings. July 13—People's savings, Lansing, Mich. July 16—First national, Hillsboro, O. July 23—German savings, Omaha. July 27—Farmers' bank, Rock Valley, Ia. July 29—Denison (O.) deposit. Aug. 6—American national, New Orleans Conkling Bros., Nevada (Mo.) bankers Banks at Bronaugh and Richards, Mo. Aug. 7—Lake county, East Chicago, Ind. Ingham county savings, Lansing, Mich. Aug. 11—Security, Duluth, Minn.; $800,000 Murray Hill, New York; $500,000. Aug. 12—Bank at National City, Col. Aug. 14—State bank, Peru, Ill. Aug. 19—Bank of Argentine, Kan. Aug. 21—Bank of Wymore, Neb. Aug. 24—Church & Son's state bank at Lowell, Mich. Aug. 28—Sioux national, Sioux City, Ia., $900,000. Sept. 1—First national, Beatrice, Neb. Sept. 2—Manufacturers' bank, West Duluth, Minn State Loan & Trust Co. bank, Ogalalla, Neb. Sept. 4—First national, Helena, Mont. Sept. 5—Jackson county, Black River Falls, Wis. Sept. 10—Mutual national, New Orleans. Sept. 11—Bank of Commerce, New Orleans. Sept. 14—Bennett national, New Whatcom, Wash. Sept. 16—Midland state, Omaha, Neb. Sept. 17—Shellsburg (Wis.) bank. Sept. 19—National, Troy, N. Y.; $449,000. Sept. 22—Pawnee (Ill.) bank. Sept. 23—Mapleton (Minn.) bank. Sept. 25—Argonia (Kan.) state bank. Sept. 26—Tribune (Kan.) bank. Oct. 5—First national, Mount Pleasant, Mich. Oct. 7—First national, Ithaca, Mich. Oct. 10—Security Trust Co., Nashua, N. H. Oct. 12—First national, Eddy, N. M. Oct. 14—Marine national, Duluth, Minn Second national, Rockford, Ill Bank of Commerce, Buffalo, N. Y. Oct. 16—Merchant's, Atlanta, Ga Bank of Pukwana, S. D. Oct. 19—Marion (O.) Deposit. Oct. 28—At Big Rapids, Mich., Mecosta savings. Nov. 5—Marine national, Duluth, Minn. Nov. 10—Iowa savings, Sioux City First national, Decorah, Ia. Nov. 14—La Harpe (Ill.) bank. Nov. 19—First national, Sioux City, Ia Sioux City, Ia. Nov. 22—First national, East Saginaw, Mich. Nov. 23—Dakota national, Sioux Falls, S. D. Nov. 24—Davis County Savings association, Gallatin, Mo. Nov. 28—Citizens' bank, Midlothian, Tex. Nov. 30—First national, Tyler, Tex Missouri national, Kansas City; $1,131,000. Dec. 1—German-American, Portage, Wis. Bank of Westport, Mo. Dec. 5—Baxter, of Baxter Springs, Kan. Henry county, at Clinton, Mo. Dec. 10—Harlan (Ia.) state Jonathan Easterly, Columbiana (O.) bankers. Dec. 11—National Bank of Commerce, Duluth, Minn First national, Niagara, N. Y. Dec. 14—First national, Hollidaysburg, Pa Banks at Martinsburg and Williamsburg, Pa. Dec. 21—National bank of Illinois, at Chicago—E. S. Dreyer & Co., Chicago, $1,200,000 Wasmansdorff, Heinemann & Co. Dec. 22—Bank of Minnesota, and Union stockyards bank, at St. Paul. Dec. 23—Bank of West Superior, Wis American Banking & Trust Co., Auburn, Me. Dec. 24—Calumet state bank, Blue Island, Ill. Dec. 26—Security Mortgage & Trust Co., Dallas, Tex.; $2,000,000—Atlas national, Chicago. Dec. 28—Bank of Superior, Wis Scandia, at Minneapolis McCoy Banking Co., Independence, Mo.

LARGER COMMERCIAL CONCERNS, INVOLVING LIABILITIES OF $500,000 OR OVER.

Jan. 3—At Philadelphia, Solicitors' Loan & Trust Co. Jan. 10—At Philadelphia, Keene, Sutterlee & Co., exporters and importers, $4,000,000. Jan. 14—At Minneapolis, American Savings and Loan association. Jan. 23—William Foster, Jr., mining and manufacturing (office in New York), $500,000. Jan. 29—At Louisville, Belle of Nelson distillery, $709,242. Feb. 6—At New York, R. & H. Adams, cotton goods manufacturers; $500,000. Feb. 10—At Columbus, O., Northern Fire association, $900,000. Feb. 20—Baltimore & Ohio Railroad Co. Mar. 9—At Holyoke, Mass., Albion Paper Co.; $500,000. Mar. 14—At St. Paul, Patrick H. Kelly, wholesale merchant; $1,000,000. Mar. 16—At New Haven, Conn., Peck Bros. & Co., manufacturers of plumbers' and steam fitters' materials; $650,000. Apr. 22—At Cincinnati, Smith & Nixon, piano dealers; $800,000. Apr. 23—At Little Rock, Ark., James E. Joyce & Co.; $525,000. May 1—At Detroit, J. L. Hudson & Co., clothiers; $500,000. May 5—At New York, American Trading society; $526,000. May 9—At Akron, O., Ferdinand Schumacher, president American Cereal Co.; $1,500,000. May 30—At St. Louis, United Elevator Co.; $2,000,000. June 4—At San Jose, Cal., Jacob Rich, and First St. railroad; $600,000. July 23—At Wyandotte, Mich., James T. Hurst, lumberman; $500,000. Aug. 1—Columbus (O.) Buggy Co.; $500,000 At Bay City, Mich., Samuel G. M. Gates, lumberman; $644,000. Aug. 3—At Chicago, Moore Bros., dealers in Diamond Match and New York Biscuit stocks; $20,000,000. Aug. 4—At Chicago, George W. Hankins;