11912. American Savings Bank (Omaha, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
February 28, 1897
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini
Short Digest
ec5e35b105ceacdb

Response Measures

None

Description

Articles describe the American Savings Bank as insolvent and put in receivership under J. W. Thomas (no article describes a depositor run). The receiver liquidated assets and paid depositors in full; later (July 1910) the receiver applied for and received final discharge. Thus the bank was suspended/closed and wound up rather than reopened. OCR corrected minor typos in articles (e.g., 'lie quidate' -> liquidate).

Events (3)
1. February 28, 1897 Receivership
Newspaper Excerpt
The affairs of the American Savings bank ... the insolvent institution ... compliment the receiver, J. W. Thomas, on the business-like way in which he had conducted the affairs of this bank.
Source
newspapers
2. July 20, 1910 Receivership
Newspaper Excerpt
On reading and filing the petition of Joseph W. Thomas, receiver, for passing of his accounts and discharge of himself as receiver ... setting forth that all of the debts and liabilities of said bank have been fully paid.
Source
newspapers
3. July 22, 1910 Other
Newspaper Excerpt
Receiver is Discharged--J. W. Thomas has been discharged as receiver for the American Savings bank, which failed sixteen years ago. By subscription the stockholders have paid all claims against the institution.
Source
newspapers

Newspaper Articles (6)
1. February 28, 1897 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, February 28, 1897

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Article Text

MAY PAY OUT IN TWO WEEKS American Savings Bank Affairs in Prospect of Settlement. DEPOSITORS' CLAIMS TO BE PAID IN FULL Money in Sight with Which to Lie quidate All the Claims Against the Insolvent Institution. The affairs of the American Savings bank formed the subject of a short discussion in Judge Scott's court yesterday, and the announcement made by the court will be received with rejoicing by the depositors in that institution, this announcement being to the effect that the depositors will probably receive full payment on their deposits within the next two weeks. The matter came up on an application by a number of depositors represented by their attorney, these depositors being anxious to know more about the affairs of the bank and the probability of their ever getting anything out of the assets of the bank. When the attorney brought the matter to the attention of the court Judge Scott interrupted him to say that he was glad to inform him and his clients as well as all other depositors that within the next ten days or two weeks there would be paid in the sum of $25,000, with which all undisputed claims against the bank would be paid. The court said the disputed claims and the liability of the stockholders would be settled. If the $25,000 was not enough to pay all claims then remaining the stockholders would be required to pay the balance. Continuing, the court said there would probably be no litigation, but that all disputes would be settled amicably and the affairs of the bank wound up in an expeditious manner. In commenting on this case Judge Scott said he wanted especially to compliment the receiver, J. W. Thomas, on the business-like way in which he had conducted the affairs of this bank. The court said the affairs had been carried on in a most satisfactory way and the receiver had used excellent business tact in getting the matters in such shape that the liabilities would probably be settled without litigation. The attorney stated that the desire of the stockbolders was to preserve the assets of the bank intact, so far as possible. He said his clients had made no objection to this, but they had insisted that the stockholders should pay the depositors. He said the capital stock of the bank was /$100,000, on which only 25 per cent had been paid, and there was enough still due from solvent stockholders to pay 85 per cent of the claims. The attention of the court was called to the fact that Judge Ambrose had fixed the compensation of the receiver at $300 per month and asked to reduce this amount. Judge Scott said he would not acknowledge the right of another judge to fix the compensation of a receiver in a case under his jurisdiction and he said he would set the order aside temporarily, leaving the matter of compensation to be determined later. The court said he wished to be (understood as not objecting to the amount fixed, but said this was a question which could only be determined when the matter was settled. The order was set aside and the application was put over for two weeks, pending the payment by the stockholders.

2. July 17, 1910 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, July 17, 1910

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Article Text

In the District Court of Douglas County, Nebraska. DOCKET 51-NO. 215. State of Nebraska, Plaintiff, against the American Savings Bank, Defendant. Order for publication of notice of application of receiver for final discharge. On reading and filing the petition of Joseph W. Thomas, receiver, for passing of his accounts and discharge of himself as receiver, and also for the discharge of his sureties on his official bond, and for the discharge of such bond, and said petition setting forth that all of the debts and liabilities of said bank have been fully paid and that the costs and expense of said receivership have been fully paid, and that there are no funds remaining in his hands as such receiver. It is therefore ordered that said petition be heard at court room No. 7, in the Bee building, on the 20th day of July, 1910, at 10 o'clock a. m. of said day, and that notice be given of said hearing to all parties Interested by publishing the same for three (3) successive days in the morning edition of The Omaha Daily Bee, Omaha, Neb., beginning with Sunday morning, July 17, 1910. Dated July 16. 1910. (Signed) GEORGE A. DAY, Jyl7-18-19 Judge.

3. July 18, 1910 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, July 18, 1910

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Article Text

LEGAL NOTICES In Nebraska. the District Court of Douglas County, DOCKET 51-NO. 215. State of Nebraska, Plaintiff, against the American Savings Bank, Defendant. Order for publication of notice of application of receiver for final discharge. On reading and filing the petition of Joseph W. Thomas, receiver, for passing of his accounts and discharge of himself as receiver, and also for the discharge of his sureties on his official bond, and for the discharge of such bond, and said petition setting forth that all of the debts and liabilities of said bank have been fully paid and that the costs and expense of said receivership have been fully paid, and that there are no funds remaining in his hands as such receiver. It is therefore ordered that said petition be heard at court room No. 7, in the Bee building, on the 20th day of July, 1910, at 10 o'clock a. m. of said day, and that notice be given of said hearing to all parties interested by publishing the same for three (3) successive days in the morning edition of The Omaha Daily Bee, Omaha, Neb., 1910. beginning with Sunday morning, July 17, Dated July 16, 1910. (Signed) GEORGE A. DAY, Jy17-18-19 Judge.

4. July 19, 1910 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, July 19, 1910

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Article Text

LEGAL NOTICES In the District Court of Douglas County, Nebraska. DOCKET 51-NO. 215. State of Neoraska, Plaintiff, against the American Savings Bank, Defendant. Order for publication or notice of application of receiver for final discharge. On reading and filing the petition of Joseph W. Thomas, receiver, for passing of his accounts and discharge or himself as receiver, and also for the discharge of his sureties on his official bond, and for the discharge of such bond, and said petition setting forth that all of the debts and liabilities of said bank have been fully paid and that the costs and expense of said receivership have been fully paid, and that there are no funds remaining in his nands as such receiver. It is therefore ordered that said petition be heard at court room No. T, in the Bee building, on the 20th day of July, 1910, at lv o'clock a. m. of said day, and that notice be given of said hearing to all parties interested by publishing the same for three (3) successive days in the morning edition or The Omaha Daily Bee, Omana, Neb., beginning with Sunday morning, July 17, 1910. Dated July 16, 1910. (Signed) GEORGE A. DAY, Judge. Jy17-18-19

5. July 22, 1910 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, July 22, 1910

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Article Text

BRIEF CITY NEWS Have Root Print It. Take your printing to the Times. Electric Fans--Burgess-Granden Co. Thomas W. Blackburn for congress. Ber Dry Cleaning of gurments. Twin City Dye Works, 407 South Fifteenth. Make Your Savings increase your earnings by becoming a member or Nebraska Savings and Loan Ass'n. Earns 6 per cent per annum. 1603 Farnam St., Omaha. Money to Loan to Home Builders at lowest association rates and easiest methods of répayment. Nebraska Savings and Loan Ass'n. 106 Board of Trade Bidg. Bodies Are Moved-The bodies of Mrs. Elizabeth Schindier and son, Chilstoph, were removed from Prospect HIM cemetery and placed in the family 101 at Forest Lawn. Receiver is Discharged--J. W. Thomas has been áischarged as receiver for the American Savings bank, which railed SIXteen years age. By subscription the stockholders have paid all claims against the institution. Burmester is Better-Charles 11. Burmester, chief clerk in the money order department at the postoffice, who was stricken with paralysis several days ago, is reported as recovering very slowly. As yet he is allowed no visitors. Sues for Husband's Death-Mrs. Emma H. F. Pauisen, widow or Hans F. Pauisen, who was drowned at Florence in a settling basin of the Omaha Water company on June 25, 1910, has started suit for damages against the water company and George Dial, foreman at the basin, for $25,000. In the Divorce Court-Maude M. Adams has brought suit for divorce agianst Chester E. Adams, alieging nonsupport. The following decrees were granted: Lilliam M. Harrison from Clarence Harrison, desertion; Emma Osborn from Thomas B. Osborn, desertion; Mollie Chapman from Charles Chapman, nonsupport; Lydia Sorensen from Martin Sorensen, desertion; Margaret Hofman from Gustave H. Hofman, cruelty. Mid-West Incorporates-A corporation known as the Mid-West Aviation Meet company, for the purpose of conducting the Mid-West Aviation meet at Omaha this year, has been formed and articles of incorporation filed with the county clerk. The company is capitalized at $10,000, no person being allowed to hold more than five $100 shares. The incorporators are J. J. Deright, Gould Dietz and Clark G. Powell. Infant Sues for Injury-Fred Lovetinsky, described in his petition "an infant 20 years of age," has brought suit for $2,000 against the James Black Masonry & Contracting Co. for an injury he received while working on the new City National bank building, through his next friend, Carrie Whitmore. He claims that on May 12, 1910, while working near an elevator, he was struck on the head by a descending car, losing the sight of his left eye. Saves Ancient Badge-Charles L. Sykes, of Fort Worth, Tex., secretary to assistant general passenger and ticket agent Northern Texas Traction" company, a delegate at the ad men's convention, is the son of the late State Senator Tracy P. Sykes of Adams county. Mr. Sykes has an emblem of the Ak-Sar-Ben of 1896, presented to his father, when the members of the legislature were invited in a body to partake of the ceremony of that year. His mother has cherished this remembrance of Omaha and Mr. Sykes brought the token with him. Novak Will to Stand-Judge Leslie of the Douglas county court Thursday morning handed down a decision in the will contest case of the late Mary Novak, admitting the will to probate. Mary Novak died May 17, 1910. leaving an estate estimated at $15,000 to Ernest P. Derck. Three sisters contested the will, charging Derck had influenced Mrs. Novak in his favor. The sisters were Rose Tauchen, Omaha; Theresa Vondries, Klamath Falls, Ore.; Josephine Lensing, Oak Park, III. Judge Leslie held that undue influence by Derck had not been proven. Promotion for Griffin-L. G. Griffin, who has been the general agent of the Pennsylvania lines in Omaha since the death of W. N. Buchmum two years ago, has been promoted to take the same posttion in their Kansas City office. Next to the office in Milwaukee the Kansas City division is the most important position, outside of the offices on the lines of the road itself. Mr. Griffin, although his home is in Chicago, is an Omaha man as he has been in positions here, chiefly With the railroads, since he was a boy. and considers Omaha his town. His place will be filled here by W. Blessig of the Sioux

6. January 21, 1920 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, January 21, 1920

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Article Text

# Pioneer Banker Dies # Following Operation (Continued From Page One.) State bank. He made an enviable record in closing the affairs of the American Savings bank, as this is perhaps the only instance in Omaha where the receiver of a bank paid all depositors every dollar they had on deposit in the failed institution. This firmly established his reputation for ability and integrity as a banker. Inf 1895 Mr. Thomas became cashier of the Union National bank of Omaha, which was consolidated 10 years later with the United States National bank. In 1909 Mr. Thomas, together with Joseph Hayden and T. E. Stevens, organized the Corn Exchange National bank of Omaha, of which institution he was vice president until he retired from active business about seven years ago. Owned Nebraska Farms. He has since then devoted much of his time to some farms that he owned in eastern Nebraska. Mr. Thomas formerly was prominently identified with civic activities of Omaha. He was a charter member of the Omaha Field club, the University club and the Omaha Grain Exchange. Mr. Thomas was a 32d degree Mason, a Shriner and a life member of the Omaha lodge of Elks. He was greatly interested in the work of the Nebraska Children's society, of which he had been the state treasurer for many years. For four years Mr. Thomas was police commissioner of Omaha, being originally appointed by Gov. Ezra Savage and reappointed by Gov. John H. Mickey, both his life-long friends. He was married to Della Wagner of Carroll, Ia., June 14, 1878. Their two children live in Omaha, Mrs. Wayland W. Magee of Bennington and Fred W. Thomas, vice president of the First National bank of Omaha. Funeral arrangements have not been made.