11492. Merchants & Miners National Bank (Philipsburg, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4843
Charter Number
4843
Start Date
July 28, 1897
Location
Philipsburg, Montana (46.332, -113.294)

Metadata

Model
gpt-5-mini
Short Digest
585a4f62

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1897-07-28
Date receivership terminated
1898-10-22
OCC cause of failure
Fraud
Share of assets assessed as good
9.3%
Share of assets assessed as doubtful
42.5%
Share of assets assessed as worthless
48.2%

Description

Bank suspended July 28, 1897 (notice posted). Receiver Samuel A. Swiggett was appointed; later indictments charged the cashier with embezzlement (Dec 1897). Comptroller administered receivership; final dividend paid and affairs wound up by mid-1898, indicating permanent closure rather than reopening.

Events (6)

1. February 1, 1893 Chartered
Source
historical_nic
2. July 28, 1897 Receivership
Source
historical_nic
3. July 28, 1897 Receivership
Newspaper Excerpt
Notice is hereby given ... that the same must be presented to Samuel A. Swiggett, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. ... posted on the doors of the bank announced that payments had been suspended and the bank closed pending an adjustment of its affairs. In a short time a receiver had been appointed by the comptroller ... Samuel A. Swiggett, receiver of the defunct Merchants and Miners National Bank of Philipsburg ... entered suit ... Samuel A. Swiggett, Receiver of the Bank, at Philipsburg, Montana, on Thursday, August 18, 1898, ... for the purpose of electing an agent, to whom the assets of the bank will be transferred ... CHARLES G. DAWES, Comptroller of the Currency. (combined excerpts).
Source
newspapers
4. July 28, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended and placed in receivership following insolvency related to internal malpractices and later allegations of embezzlement by the cashier; payments suspended July 28, 1897.
Newspaper Excerpt
on July 28, 1897, a notice posted on the doors of the bank announced that payments had been suspended and the bank closed pending an adjustment of its affairs.
Source
newspapers
5. December 8, 1897 Other
Newspaper Excerpt
Charles H. Eshbaugh ... indicted for alleged infraction of the banking laws while cashier of the suspended Merchants & Miners' National bank of Phillipsburg ... one indictment ... embezzlement of $1,000 ... other ... misappropriating the funds ... (indictments reported Dec. 1897).
Source
newspapers
6. July 22, 1898 Other
Newspaper Excerpt
The Merchants and Miners National Bank ... is now paying the final dividend to its depositors with interest ... Less than a year ago, on July 28, 1897, a notice posted on the doors of the bank announced that payments had been suspended ... a receiver had been appointed ... the depositors are being fully paid. A meeting of the stockholders is called for August 18th, when the assets of the bank will be placed in the hands of a trustee ...
Source
newspapers

Newspaper Articles (16)

Article from The Philipsburg Mail, November 12, 1897

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NOTICE TO THE PUBLIC. Treasury Department, Office of the Comptroller of the Currency, Washington, D. C., July 28, 1897. Notice is hereby given to all persons who may have claims against The Merchants and Miners National Bank of Philipsburg, Montana, that the same must be presented to Samuel A. Swiggett, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. JAMES H. ECKELS, 29.3m Comptroller of the Currency.


Article from The Philipsburg Mail, November 19, 1897

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IT'S AWFUL TO BE RICH! A "Busted" Bank Will Try to Get Something Out of a Newspaper That the Latter Don't Owe. S. A. Swiggett, receiver of the defunct Merchants and Miners National Bank of Philipsburg, Monday entered suit in the district court against The Mail Publishing Company for the recovery of $1,035 and interest due on a note. This account is a private matter of T. C. Congdon, secretary of The Mail Publishing Company, in which the company is in no wise connected, though the attempt is being made by the "busted" bank people to saddle the account on The Mail Publishing Company.


Article from The Anaconda Standard, December 8, 1897

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ESHBAUGH ARRESTED. Two Indictments Returned Against Him by the U. S. Grand Jury. Special Dispatch to the Standard. Helena, Dec. -Marshal McDermott returned to-day from Butte, where he arrested Charles H. Eshbaugh, against whom the grand jury returned two indictments for alleged infraction of the banking laws while cashier of the suspended Merchants & Miners' National bank of Philipsburg. His indictments were placed in the secret docket, and until he was arrested could not be mentioned. He has been released on $2,500 bail by Commissioner Naughton, and will present himself in court to-morrow. One of the indictments, which contains three counts, is for the embezzlement of $1,000 belonging to James Murray, a depositor, and for giving to that person a fraudulent statement. The other indictment contains but one count, and charges him with misappropriating the funds of the bank b ymeans of two drafts, one for $50 and the other for $80.


Article from Little Falls Weekly Transcript, December 10, 1897

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Indicted an Ex-Cashier. HELENA, Dec. 9.-One of the indictments of the late federal grand jury proved to be against Charles H. Eshbaugh, former cashier of the now suspended Merchants and Miners' National bank of Phillipsburg, Granite county, charging him with embezzlement of $6,000, and uttering false statements as to his bank accounts. He gave $5,000 bail.


Article from Semi-Weekly Register, December 10, 1897

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Indicted an Ex-Cashier. HELENA, Dec. 9.-One of the indictments of the late federal grand jury proved to be against Charles H. Eshbaugh, former cashier of the now suspended Merchants and Miners' National bank of Phillipsburg, Granite county, charging him with embezzlement of $6,000, and uttering false statements as to his bank accounts. He gave $5,000 bail.


Article from The Philipsburg Mail, December 10, 1897

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ARRESTED IN BUTTE. Cashier Eshbaugh Charged With Embezzlement. A Helena dispatch states that Marshal McDermott had returned from Butte to Helena and that he had C. H. Eshbaugh in custody, against whom the grand jury returned two indictments for alleged infraction of the banking laws while cashier of the suspended Merchants' and Miners' National Bank of Philipsburg. One of the indictments, which contains three counts, is for the embezzlement of $1000 belonging to James Murray, a depositor, and for giving to that person a fraudulent statement. The other indictment contains but one count, and charges him with misappropriating the the funds of the bank by means of two drafts, one for $50 and the other for $80. Mr. Eshbaugh said Wednesday even ing to an Independent reporter that when the proper time came he would be able to explain the charges against him in such a manner that would be agreed that he had not been guilty of a single transaction. "I will show that I do not owe the bank a cent," he said, "and that the charge of embezzlement is all a mistake. Neither do 1 owe Mr. Murray a cent, as I intend to show. The books of the bank will show fully the entire transaction while I was there, and how and why each one was made. I have no uneasiness as to the outcome." Mr. Eshbaugh was accompanied to Helena by his lawyer. E. B. Howell, of Butte, who repeated what Mr. Eshbaugh had said. The amount the indictment charges Mr. Eshbaugh with having embezzled was but $1000 and not $6000 as stated.


Article from The Salt Lake Herald, December 10, 1897

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Montana. Charles H. Eshbaugh has been arrested at Butte, under two federal indictments, charging him with violations of the banking laws while cashier of the suspended Merchants' & Miners' National bank of Phillipsburg. Acting Governor Spriggs has granted diminutions in the following cases, subject to the action of the board of pardons: James Tracey, sent from Flathead county for one year for burglary, 28 days: A. J. Whewell, sent from Silver Bow for a year and a half for burglary, 30 days; James Coburn, sent from Madison for one year for larceny, 28 days: George Kelly, sent from Missoula for one year for burglary, 28 days. Herman Richter, a prominent German-American citizen of Helena, committed suicide Tuesday by shooting himself. Business trouble was the cause. There are 72 children in the state orphans' home. John McCarthy was fatally injured by a cave-in on the Bell mine at Butte last Tuesday. Every bone on the left side of the body was broken. Charles Hunter, of Saco, recently received a bunch of fox hounds from the east and will use them in exterminating the coyote and gray wolf from now until next spring. Two horsemen from Wisconsin are on the Madison in search of smooth, blocky horses, weighing from 1,150 upwards. They are paying $25 for wild horses filling these requirements.


Article from The Coeur D'alene Press, December 11, 1897

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Ex-Cashier in a Pickle. Helena, Mont., Dec. 8.-One of the indictments of the late federal grand jury proved to be against Charles Eshbaugh, former cashier of the now suspended Merchants & Miners' National bank of Phillipsburg, Granite county, charging him with embezzlement of $6000 and uttering false statements as to his bank accounts. He gave $5000 bail.


Article from The Philipsburg Mail, June 3, 1898

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SHERIFF'S SALE Samuel A. Swiggett Receiver of the Merchants and Miners National Bank of Philipsburg, Montana, Plaintiff, versus Philipsburg Townsite and Improve- Dement Company (a corporation), fendant. To be sold at sheriff's sale on Tues the 14th day of June, A. D. 1898, day, 2 'clock p. m. of said day, in front at of the court house door in the City of Philipsburg, Granite county, Montana, to the highest bidder for cash, the following described real estate, or much thereof as may be necessary the SO to raise sufficient money to satisfy judgment with interest and all costs, the said real estate hereinafter mentioned is situated in the Churchhill addition to the City of Philipsburg, Granite county, Montana, to-wit: 9, Lots numbered 1, 2. 3, 4, 5, 6, 7, 8, 10, 11, 12, 13, 14, 15, 16, 17 in block 3, numbered 1, and lots numbered 1. 2, 5, 6, 7, 8, 9, 10 in block 2; lots 4, numbered 1, 2. 3, 4, 5, 6, 7, 8, 9, 10, e 11 in block 3, and lots numbered 1, 2, o 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, block 14, 16, 17, 18, 19, 20, 21, 22 in 1 numbered 15, 4; lots numbered 1, 2, 3, 15, 4, 6. 7, 8, 9, 10, 11, 12, 13, 14, a 5, 16, 17, 18, 19, 20 in block 5; lots num- 10, a bered 1, 2, 3, 4, 5, 6, 7, 8, 9, 21, 1 12, 13. 14, 15, 16, 17, 18, 19. 20, f 11, 23, 24, 25, 26, 27, 28, 29, 30. 31, 1 22, 32, 33 and 34 in block numbered 6, and r lots numbered 1, 2, 3, 4, 5, 6, 7, 8, 22, 9, 13, 14, 15, 16, 17, 18, 19, 20, 21, r 23, 12, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 8, r 34, in block 7; lots numbered 6, 7, 8 it 10, 16, 17, 18, 19, 20, in block d 9. lots numbered 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, n 21, 22, in block 9; lots numbered 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 10 15, of 17, 18, 19, 20, 21, 22 in block 9, lots 16, numbered 1, 2, 3, 4, 5, 6, 7. 8, a 10, 11, 12, 13, 14, 15, 16, 17, 18, 19 and at 20 in block 11; lots numbered 5. 8, 9, r 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 31, ic 21, 10, 22, 23, 24, 25, 26, 27, 28, 29, 30, es 32 in block 12, and lots numbered 10, of 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, of 23, 24, 25, 26, 27, 28, 29 and 30 in of 22, block 13, and lots numbered 1, 2, 3, 16, 4, en 5. 6, 7, 9, 10, 11, 12, 13, 14, 15, All 18, 19, 20, 21 and 22 in block num ed bered 17, 15, together with all the tene ments, herditaments and appurten Ve ances thereunto belonging or in any he wise appertaining, and for a refer more m full description of said premises re is hereby made to the official plat et ence and survey of said Churchhill addition ey to the townsite of Philipsburg. now d file and record in the office of the n on county clerk and Recorder of Granit re es county, Dated Moutana. this 20th day of May, 1898. ng F. J. McDonald, Sheriff. re By Peter Gallagher, Under Sheriff. in Rodgers & Rodgers. in Attorneys for Plaintiff.


Article from The Herald, July 14, 1898

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California at the Capital WASHINGTON, July 11.-California pensions have been granted as follows: Orginal-Orlando I. Rogers of Black Diamond, $6; Frederick Miller of Soldiers' home, $8; Thomas Galvin of San Francisco, $8; Thomas D. Burrows of Soldiers' home, $12; Sylvester K. Wilson of Colton, $8; Jas. W. Walsh of Irvington, $8; William Hickock of Salinas, $8. Widows-May Flaherty of Oakland, $12. The comptroller of currency has declared dividends for the creditors of the insolvent banks as follows: 13 per cent, the Browne National Bank of Spokane, Wash.; 42 per cent, the Merchants and Miners' National Bank of Phillipsburg, Mont. The president today made the following appointments: Robert J. Hendricks, to be appraiser of merchandise in the district of Willamette, Oregon. Frederick P. McKinley of New Mexico, to be receiver of public moneys at Guthrie, O. T. Davis L. Gever of Ohio, to be receiver of public moneys at Roswell, N. M. To be agents for Indians-Charles S. McNichole of Illinois, for Colorado River agency in Arizona; Charles D. Reeves of Texas, for the Fort Apache agency, in Arizona; Frederick D. Spriggs of New York, for the Nevada agency, in Nevada. Grant McLaughlin and F. L. Elworthy of California have been appointed laborers in the Mare Island Navy yard at $2.48 and $2.80 per diem respectively. Austin Young was today commissioned postmaster at Randsburg, Luther King at Moss, and Theodore F. Birch at Orland, Cal.


Article from The Philipsburg Mail, July 22, 1898

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PHILIPSBURG, GRANITE COUNTY, MONTANA, FRIDAY. JULY 22, 1898. Granite last Friday night on horseback. It appears that his horse stumSENATOR CART ADDITIONAL LOCAL bled and fell. throwing him to the ground. Aside from a painful blow on his left knee he was bruised up genle erally. He will no doubt have a stiff Paragraphs For The Mail's Presents a Handsome Silk 1 knee-joint for some time. -Carl Bergstrand went to the head Many Readers. -blood and to the Montana Boys. of Gold creek yesterday in the interest of mines in that section. Mr. Berguit to Close strand has great faith in that portion -Bar silver 591/2 The following letter has bee of the county, and we trust he will -Hans J. Kolbeck, of Stone, was in ceived by The Mail from Will Call some day be rewarded by becoming the city yesterday. one of the mining magnates of Granite the well-known Philipsburg boy county. He was accompanied as far -J. S. Grant, of Willow creek, was encamped at Chicamanga Park, T as Flint by Commissioner Hennessy. in the city yesterday. Overalls where he went with others if V. L. Tissera, representing a tea -Mr. and Mrs. Nick Lutchje, of sponse to President McKinley's house of Ceylon, was a gnest at the Willow creek, were in town Saturday. ach. Kaiser house during the week. Mr. call for men to defend his cour -J. A. Gillis, of Rock creek, was Tissera is making a tour of our contihonor. He writes an interestin among the Phillipsburg visitors this nent introducing different brands of week ter, and especially interesting is Ceylon tea, which are being placed on --R. M. Anderson. of Henderson the market by Chicago wholesale dealpart which refers to the present gulch, is spending a couple of days in ers. He was accompanied by Messrs. of a handsome silk flag, the E town. C. A. Davidson and D. T. Haskett of Montana's representatives to the Batte, T. Rhodes. mayor of Combinawho have volunteered to fight for tion, was a visitor at the 'burg yes-Ed Wilhelm, the jeweler. changed terday. country. Following IS the letter um Boots his business location during the week. -Mrs. Frank Dorand, of New ChiChickamanga Park, July 9. having removed to the Hammond Seal present war will bring about at building. two doors above the Mail cago, was a visitor in the city last one good result in the United S Saturday. office. Mr. Wilbelm's family will ccthat is, the people of the East, copy a portion of the house, while the -Mrs. Annie Milroy, of lower WilNorth and South will become frout part has been fitted up for a low creek, was a visitor in the city acquainted. Sectionalism, which store and repair shop. The old stand during the week. played such a prominent part in with the Campbell Drag Co. proved -Lige Kinney, of the Dan Arms 018 and Shoes political cam aigus, will be to a altogether too sinall for Mr. Wilheln's ranch on Rock creek. spent Saurday extent elimidated steadily increasing business, while his and Sunday in town. When it became known Grigg present stand is roomy and exactly -Ward Beley, of the J. C. McLeod Cowboys Lad arrived at the Park adapted for his purpose, being also furnishing goods house, was a visitor from the East and South were in a better locality. in Anaconda Saturday. auxious to see the 'long-haired -Among the fishermen who reerners, as we were called in th -Miss Rose and Master Wilford turned with empty baskets Sunday pers. They were greatly sur Winninghoff returned yesterday from evening we noticed Messrs. R. P. Para week's visit near Stone. though when they found a lot of y vin and G. S. Williams. Last Sunday ) smooth-shaven fellows like thems -Frank M. Freyschlag came in from was an exceptionally poor day for willing to have a good time as fishing, and several members of the the Antelope road camp last Saturday had in the East, and not in sup finny tribe may thank their stars that evening, returning Sunday. Western style-everyone drunkkind providence interceded for them -Mr. and Mrs. John Bray, of Wilthey amuse themselves with som when Dick Parvin and Grant Williams low creek, made one of their weekly fortunate tenderfoot dancing t called. The respite. however, is until visits to the 'burg this week. music of a dozen six-shooters. next Sunday only. and there is no tell--G. W. Maywood. one of the pillars APER convictions that we were terro ing how many of the tribe that esof Princeton, has been visiting in the the toughest kind was só deepcaped last Sunday will be left to tell city for a few days during the past that we are still treated with the story of the fish that never came week. WINDOW GLASS back. than ordinary respect. in spite resemblance to themselves in on --Alf Ballard of the Carmichael liv. AND The southern portion of the mill appearance. Whatever a Gri ery stables, took a load of passengers to at the Granite Bimetallic Con. Co. says comes very near going. If a Anaconda last Friday, returning Sat. Room works, consisting fifty stamps, has Surday. is in progress he instinctively be been started and is now running in a the leader in the separation or in -Mr. and Mrs. Val Jacky and Mr. satisfactory manner. The northern ing fair play. MOULDINGS and Mrs. Thos. Botcheider spent last part of the mill has been shut down Our regiment is fast gaining t Sunday at Flint Creek Falls fishing and is receiving a thorough overhaulputation of being the most order and pienicking. ing. During the long shut-down the the Park. We had our pay-day tl -Chas. Glass has returned from timbers and bolts have become loosened and though about 150 men have Princeton, where he has been empecialty and it was found necessary to replace to Chattanooga every day since ployed as engineer at the mill of a good many by new material, put in in a single instance have they co Meacham & Clark. new foundations for the mortars in contact with the civil author -Judge Dan Berry, one of the oldseveral places and make other repairs What has greatly increased the time and prominent settlers of Drumbefore it will be in first-class running larity of the Griggbys is the Wi order. tana. mond, was a visitor at the county seat sin incident. an account of several days last week. was published in several of the --Capt. S. A. Swiggett, receiver of dailies of the country. -Dave Haskett. representing Reid, the Merchants and Miners National Murdock & Co., wholesale grocers of The army in a vast majority is bank, is paying the final dividend this posed of the chivalry of the Nort Chicago. has been interviewing our week, interest and all. Mr. Swiggett merchants in the interest of his house South: in fact, the best young in hopes to have his labors completed by for several days. the country. Naturally we red the 28th inst., being exactly a year SON, their moral support. since the bank suspended, and expects -Fred W. Kroger, recently graduatThe Montana ball team is the 1 to leave for his future home in Great ed from our public schools, is now emnized champion of the Park, W Falls, where another federal position ployed as hoisting engineer at the large sin, Illinois and Arkansas h stone quarry of Jos. Tiefenthaler near awaits him, about the Its of August. COAL fallen victims in closely con Gregson Springs. During his stay in our town the capgames: Maine, New York and tain has made many friends, who, A number of men who had been indows, are looking for games, but we ha while sorry to lose his company, will doing repair work were laid off last fear they will take our laurels fro wish him unlimited success in Wednesday by the Granite-Bimetallic The Montana boys at home nee his future field of labor. Capt Con. Co., having completed their lafear our State will be in the r ING COAL Swiggett is a man of excellent qualibors in overhauling the mill. athletics. Although we have ties, and to his untiring effort and -Mrs. Frank Grebil has returned squadron here. we are willing to manner in arranging the affairs of the from Gregson Springs much improved. men and match them against bank, largely due that every deposi) BLACKSMITH Mrs. Grebil will return to the Springs picked from any regiment. tcr has received his money with interand remain for some time in the hope have no fear as to the result, eith est in SO short a time. of fully regaining her health. o The peculiar characteristics -When the fathers of Granite connboys from the East and South -Mr. and Mrs. W. W. Nebethal, ty bought the old scho 1 property and considerable amusement for us Mr. and Mrs. L. M. Busbee, Mr. and remodeled the building for a court RMAN, erners. In a two minutes' wal Mrs. Fred Chandler and Mrs. Edward house, they evidently overlooked the can meet representatives of all Miller and family enjoyed a pleasant fact that by virtue of this purchase The New Yorker, fresh from the outing last Sunday on Rock creek. there also fell heir to a flag-staff which ery. If you attempt to talk t -Pat McGurk, the rustling Granite remains in the back-yard of the counyou had better have an inter merchant, was a familiar figure on ty's executive headquarters. It is a with you if you haven't. his our streets his week. Mr. McGurk matter that might well be taken into will certainly be all Bowery to is one of the pillars of Granite, and consideration by our present board. CERIES Next you will meet an Eastern during the shut-down was the only Granite is. no doubt, the only county boy, probably accompanied by a $ grocer on the hill. in the state which does not display the erner and a -central lad. nation's banner over the court house -Wm. Davey, after spending a week ARE. The Fourth of July here was visiting in Phiilpsburg and vicinity, on gala occasions and national holiquiet, no fire works being allowed left last Saturday for his home in Elk days. The flag-staff mentioned is ing to the great danger of fire. Anybody. horn. Mrs. Davey will remain here about the best one in the viciuity and visit of Senator Thomas H. Car if properly placed in the frout yard, for some time, visiting her parents, the Montana squadron was the Mr. and Mrs. John Rodda. equipped with halyards and the stars interesting feature. The boys and stripes. to be hoisted on national glad to see him, as they knew it -J. J. Carmichael, of the City Liv holidays, it would look better than at greatly through his influence th ery Stables, has added a large band its present place of abode. wagon to his already complete outfit of C CO. are here. He was unexpected, vehicles, and will in the future be were unprepared to meet hin -The attention of the public is di prepared to handle excursion and when it became known he was a rected to the advertisement of John R. picnic parties, which are so frequent jor Monteath's quarters the boys McKenzie, the old reliable transfer during the summer months. quickly assembled and gave him OOFERS man of the town, which will be found rousing cheers. The order 'fal -Ben Ott, ex-alderman of Drum in another column of The Mail. KE-STACKS. was soon given. and in less time Mr. McKenzie needs no introduction mond, arrived in the city during the T OR MINit takes to tell it we had formed week and will become a fixture of to the community. He has been L ORDERS. square and were going throug among us for years, and those who Philipsburg. Mr. Ott will have charge manual of arms for the Senator's have had occasion to do business with of a chair in the tonsorial parlors of fit. Major Monteath introduce his brother, W. G. Ott, where he will him know the value of his services. senator, giving us the first intim be pleased to see his friends. G. MONTANA. During the four or five years just past that he was visiting for the p B. he has made his regular trips to the -County Commissioners J. of presenting to us a squadron fla depot and brought up our freight and Featherman and D. W. Hennessy arpresent of Montana's represent express, whether one box or a load rived in the city on Monday's train, $ in Congress. The senator's it was all the same. His charges have and with Commissioner James Me was the most eloquent I ever at all times been most reasonable, and Donel have been in session during the him make. He made no refere no complaint has ever been heard reweek, looking after the interests of the future policy of the govern garding his work. Mr. McKenzie is the people of Granite county. but in speaking of the past he OCER, fully equipped to handle whatever -Sam Snyder, the old original Sam, the course of diplomacy was e1 work the much-coveted prosperity may came in during the week from his bring with it, and he makes a specialmountain retreat and found the town ty of moving heavy freight, such as about the same. He returned to camp safes, pianos, etc. familiarizing him


Article from The Philipsburg Mail, July 22, 1898

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ITS FINAL DIVIDEND. The Merchants and Miners National Bank Settling Up. Much to the mental relief and satisfaction of President A. A. McDonald of the Merchants and Miners National bank of Philipsburg, that institution is now paying the final dividend to its depositors with interest of an average of 71/4 per cent on all dividends paid. Less than a year ago, on July 28, 1897, a notice posted on the doors of the bank announced that payments had been suspended and the bank closed pending an adjutment of its affairs. In a short time a receiver had been appointed by the comptroller of the currency and that gentleman took charge. The payment of a dividend of 25 per cent was soon announced, and affer awhile another payment of 35 per cent was made. Not wishing to sacrifice any of the bank's assets and unwilling to cause disaster among the community by enforcing collections, it was decided that assessments should be made upon the stockholders. An assessment of 80 per cent was accordingly levied, to which all stockholders promptly responded, Mr. A. A. McDonald holding one-half of the entire capital stock. The result is already known and the depositors are being fully paid. This is an exceptional fast record and speaks well for Philipsburg and Granite county. A meeting of the stockholders is called for August 18th, when the assets of the bank will be placed in the hands of a trustee, and no doubt the stockholders will not fare SO badly after all when a final distribution is made among them. Receiver Swiggett deserves much credit for the manner in which he conducted and directed the bank's closing career. and as to President A. A. McDonald too much cannot be said for his untiring efforts to see every depositor paid in full. an example which some other defunct banks may pattern after.


Article from The Philipsburg Mail, July 29, 1898

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17. First publication. July 8-24, 6t. NOTICE OF STOCKHOLDERS' MEETING. TREASURY DEPARTMENT, OFFICE OF COMPTROLLER OF THE CURRENCY, WASHINGTON. D. C., July 9, 1898. Notice is hereby given to the stockholders of The Merchants and Miners National Bank of Philipsburg, Montana. that a meeting of the stockhelders will bo held at the office of Samuel A. Swiggett, Receiver of the Bank. at Philipsburg, Montana, on Thursday, August 18, 1898, at 2 o'clock p. m., for the purpose of electing an agent, to whom the assets of the bank will be transferred and delivered in accordance with the provisions of Section 3 of the Act of Congress approved June 30, 1876, entitled, "An Act authorizing the appointment of receivers of national banks, and for other purposes. as modified by the Act of Congress approved August 3, 1892, entitled, 'An Act to amend an act entitled An Act authorizing the appointment of receivers of national banks, and for ther purposes, approved June 30, 1876," or for the purpose of continuing the receivership in accordance with the provisions of the las named act. CHARLES G. DAWES, Comptroller of the Currency. First publication July 15-25 30d.


Article from The Philipsburg Mail, August 5, 1898

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PHILIPSBURG, GRANITE COUNTY, MONTANA, FRIDAY, AUGUST 5, 1898. FROM DAWSON CITY M. S. MORRISON'S LETTER A Long Journey, Having Slept Out All Winter in a Tent-Meets Phil- ipsburgers Every Day. The following letter has been received by D. N. McDonald from M. S. Morrison, formerly a partner of Mr. McDonald's in the lumber business, under the firm name of McDonald & Morrison and Philipsburg Lumber and Fuel company. Mr. Morrison is now located at Dawson City, N. W. T., and his letter will be of much interest to our many readers. Following is the letter: Dawson City, N. W. T., June 26.-After a season's experience of placer mining in the Klondike district I thought it would interest you and some of my old acquaintances to learn that I am still living and enjoying my usual good health. There are, however, scores of people who cannot give a like account of themseves, and more than that, thousands of them are sadly discouraged. My friends, do not let yourselves be carried away with the idea that this country is all gold, although there is considerable of it here; but if it were equally divided it would not make very much per capita. Last fall, when I arrived here, provisions were $1 and $1.25 per pound. Three of us took a lease on a piece of ground on Bonanza creek. I had only 500 pounds of provisions, and that was not sufficient for a year for three men, so my partners went to work on the ground and I went to Circle City after more grub. I left camp on the 1st of October and got back on the 20th of March, being out all alone the whole winter with nothing but a drill tent for a winter house. The weather was not very cold, the coldest being 60 degrees below zero. I located a claim that day and got my feet frozen, but was able to build a fire in time to save them from freezing. However, I escaped from contracting that dreaded and miserable disease, scurvy, and have no complaint to offer nor any kick coming. I have my health and some money besides, although I am not figuring on going out yet. To my surprise, I met Jake Franzman. He is here with me in the tent not doing anything. I am not doing any- sign, "The Philipsburg Mail," on the California street side of The Mail office. It is painted on the brick wall large enough to be seen. A picnic party composed of Mrs. Chas. Wallender, Mrs. August Lindstadt and children and Mrs. J. A. McKenna spent last Monday among the pines below Hasmark. The open season for killing grouse, chickens, etc., will begin August 15th and close December 15th. Not more than twenty of these birds may be killed by one person in one day. A party composed of Messrs. Frank J. Wilson, Chas. A. Wilson, Fred Mallette, Jos. Dubrule, Louie Tougas, J. D. Kennedy and Ed Tougas spent last Sunday on Rock creek fishing with good success. Dr. J. H. Owings and family, of Deer Lodge, and Mr. and Mrs. J. H. Williams and children, of this city, expect to pitch camp on Rock creek in a few days and spend some time camping and fishing. Among the Granite residents who attended the funeral of the late Charles Kroger last Sunday were Mr. and Mrs. C. A. Kent, Mr. and Mrs. H. T. Cumming, Mr. and Mrs. James Willoughby and Misses Penaluna and Harris. A bright baby girl arrived at the home of Mr. and Mrs. Julius Hansen on California street last Wednesday morning. Mother and child are doing well and the doctors have hopes of saving Jule. The Mail extends congratulations. Mr. and Mrs. Arthur Durand gave an enjoyable dance at the Nolan house, Kirkville, last Monday evening. Over fifteen couples were in attendance and all had a pleasant time. Music was furnished by Prof. Westphal and Chas. Snyder. Mr. and Mrs. A. H. Barret, of Butte, are contemplating an outing on Rock creek in the near future. They expect to drive overland from Butte, bringing a complete camp outût, and will be joined here by Mr. and Mrs. Valentine Jacky and children. Capt. S. A. Swiggett, formerly receiver of the Merchants and Miners National Bank of this city, has entered upon his duties as clerk of the port at Great Falls, a position recently vacated by the appointment of Maj. T. A. Cummings as paymaster at Duluth. The Rock creek road over the Antelope route has been completed. Frank Freyschlag and others who have been camped on Antelope while work on the road was in progress have come to town. A good deal of travel will no doubt go this new way now as it is said to be one of the best mountain roads in the county. A LARGE F MR. KROGER LAI Masons, Odd Fellows, and Last Sad Tribute to and Honorable The funeral of the late occurred from the family Sunday afternoon and w largest that has taken p for years past. The M Fellows met at their hal o'clock, the latter march Masonic hall, when both to the Kroger residen Fellows services were sisted in the singing by Order Eastern Star. Sh o'clock the remains were hearse by the pall-bearer procession started for th tion of the cemetery, hea Fellows and Masons, in shal S. W. Minshall. T Eastern Star attended i large conveyance. At the grave the sole of the Odd Fellows were by George W. Suppiger Riple, at the conclusion impressive Masonic rites tered by Acting Worshi W. Getty, the ladies of ern Star taking active pa ing. The ceremonies th rendered in a most solemn manner, and the displayed by all indicate teem in which the decea the people of the comm every conveyance in vicinity was pressed into speak of those from G upper and lower valleys. Many a moist eye was remains of Charles K posited in their last res many a time since has t made, "A good man gon The floral offerings v beautiful and were con friends of the family. uted by the Order Eas especially beautiful and Fred Kroger, of Gregs of the deceased; M. J. K D


Article from The Philipsburg Mail, August 5, 1898

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GEORGE D. GREEN, Register. First publication, July 8-24, 6t. NOTICE OF STOCKHOLDERS' MEETING. TREASURY DEPARTMENT. OFFICE OF COMPTROLLER OF THE CURRENCY, WASHINGTON. D. C., July 9, 1898. Notice is hereby given to the stockholders of The Merchants and Miners National Bank of Philipsburg, Montana. that a meeting of the stockholders will bo held at the office of Samuel A. Swiggett, Receiver of the Bank, at Philipsburg, Montana, on Thursday, August 18, 1898, at 2 o'clock p. m., for the purpose of electing an agent, to whom the assets of the bank will be transferred and delivered in accordance with the provisions of Section 3 of the Act of Congress approved June 30, 1876, entitled, "An Act authorizing the appointment of receivers of national banks. and for other purposes. as modified by the Act of Congress approved August 3, 1892, entitled, 'An Act to amend an act entitled An Act authorizing the appointment of receivers of national banks, and for other purposes," approved June 30, 1876, or for the purpose of continuing the receivership in accordance with the provisions of the las named act. CHARLES G. DAWES, Comptroller of the Currency. First publication July 15-25 30d.


Article from The Philipsburg Mail, November 4, 1898

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8 Geo. A. Maywood was up from y Princeton yesterdal. ) Miss Ruth Smith is confined to her home with typhoid fever. The Needlecraft will meet with Mrs. D. M. Durfee next Wednesday afternoon. Capt. S. A. Swiggett arrived in the city Wednesday on business connected with the winding up of the receivership of the late Merchants and Miners National bank and delivered the papers of final adjustment to President A. A. McDonald. For several issues past the columns of The Mail have been largely devoted to campaign matter, which is perhaps not the most interesting to a good many newspaper readers. Before our next issue the political con est will have been over, and the endeavor to present its readers with all the news and items of general interest obtainable, as it has done in the past. Mrs. Eliza M. Welch who passed peacefully away on October 24 was born in New York, and came to Philipsburg seventeen years ago, and has ever since made her home here. She was educated and intelligent and was a cousin to the great writer, Louisa M. Alcott. She leaves a son in Oregon, Fred Welch, brother, John Alcott, in Wisconsin, besides many friends to mourn her loss. The democratic meeting at the opera house last night was well attended, many having come to hear Mr. Hartman and to see Mr. Campbell. The chairman of the meeting introduced Mr. A. J. Campbell as the first speaker. Mr. Campbell dwelt upon his labor record, saying that his conscience dictated that he should vote against the several labor measures and that he acted according to his convictions, believing that he was right, and that he would do the same thing over again Mr. Hartman spoke at length upon the e ilver question, adv support of Mr. Campbell and is no way reflected upon the Granite County Silver Rep: blican ticket, but said that all the p people of Granite county were his friends and that all were in favor of the free coinage of silver, and that he felt very grateful towards them. Mr. Hartman's sole mission is to endeavor to elect Mr. Campbe.l to congress.