1209. Alamosa bank (Alamosa, CO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 5, 1905
Location
Alamosa, Colorado (37.469, -105.870)

Metadata

Model
gpt-5-mini
Short Digest
c2f6f46b

Response Measures

None

Description

Multiple articles (early Oct 1905) report the Alamosa bank 'went into the hands of a receiver' (suspended) after large sums were missing and owners arrested for embezzlement. No newspaper explicitly describes a depositor run; the trigger is bank-specific adverse information (embezzlement/insolvency). The bank was placed in receivership and effectively closed.

Events (3)
1. October 5, 1905 Other
Newspaper Excerpt
I. W. Schiffer, one of the owners of the Alamosa bank, was arrested tonight on the charge of embezzlement ... Six other warrants were sworn out ... charging him with receiving deposits when he knew the Alamosa bank was insolvent.
Source
newspapers
2. October 5, 1905 Receivership
Newspaper Excerpt
the Alamosa bank, which went into the hands of a receiver a day or so ago, was arrested last night on the charge of embezzlement ...
Source
newspapers
3. October 5, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed and placed in receivership after discovery of missing funds and insolvency tied to alleged embezzlement by owners; assets described as 'of indefinite commercial value' and liabilities exceed deposits.
Newspaper Excerpt
the Alamosa bank, which went into the hands of a receiver a day or so ago
Source
newspapers

Newspaper Articles (14)
1. October 6, 1905 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, October 6, 1905

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I. W. SCHIFFER ARRESTED ON CHARGE OF EMBEZZLEMENT Is One of the Owners of the Alamosa Colo, Bank- Wide Alarm Sent Out for His Brother. Alamosa, Colo., Oct. 5.-I. W. Schiffer, one of the owners of the Alamosa bank, was arrested tonight on the charge of embezzlement of a sum in excess of $5,000 belonging to the San Louis Building and Loan association, of which he is treasurer. A preliminary examination was held and bonds were placed at $10,000. Six other warrants were sworn out against Schiffer, charging him with receiving deposits when he knew the Alamosa bank was insolvent. Bonds in these cases totaled $6,000. Failing to supply the entire bond of $16,000 Schiffer was placed in jall. A warrant has been sworn out for Abe Schiffer, another part owner of the suspended bank, but he has not yet been located. It is believed he is in New York. A sensational development today in connection with the investigation of the bank's affairs was the discovery that Hermann Schiffer, a. wealthy silk merchant of New York, was in no way connected with the Alamosa bank. It was his name and reputation, which is considered the best in Alamosa, that gave the bank its prestige. A report of the depositors' committee made tonight showed the bank to have assets "of indefinite commercial value" amounting to $373,444. Liabilitles include $198,964 to depositors and $95,000 due to other banks. The report says that considerable paper of the bank is held by other banks as collateral for loans made to the Alamosa bank. ALARM FOR A. SCHIFFER. New York, Oct. 6.-Through police headquarters a country wide alarm has been sent out for Abraham Schiffer, a

2. October 6, 1905 Arizona Republican Phoenix, AZ
Article from Arizona Republican, October 6, 1905

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Article Text

COLORADO BANKERS. One Under Arrest, Another Sought For. Alamosa, Colo., Oct 5.-I. W. Schiffer, one of the owners of the Alamosa bank. which went into the hands of a receiver, a day or so ago, was arrested tonight on a charge of embezzlement of a sum of money in excess of $5,000. Six other warrants have been sworn out against Schiffer charging him with receiving deposits when he knew the bank to be insolvent. A warrant was issued for Abe Schiffer, another part owner in the bank, but he has not been located.

3. October 6, 1905 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, October 6, 1905

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BANK OWNER ARRESTED. Charged With Embezzlement of the Funds. Denver, Oct 6.-A special to the Republican from Alamosa. Col, says: "I. W. Schiffer. one of the owners of the Alamosa bank. which went into the hands of a receiver a day or 80 ago, was arrested last night on the charge of embezzlement of a sum in excess of $5,000 belonging to the San Luis Building and Loan association, of which he is treasurer. "Six other warrants were sworn out against Schiffer. charging him with receiving deposits when he knew the Alamosa bank was insolvent. Failing to supply bonds aggregating $16,000. Schiffer was placed in jail. "A warrant has been sworn out for Abe Schiffer, another part owner of the suspended bank, but he has not yet been located. It is believed he is in New York. "A sensational development yesterday in connection with the Investigation of the affairs of the bank was the discovery that Hermann Schiffer. a wealthy silk merchant of New York, was in no way connected with the Alamosa bank. It was his name and reputation, which is considered the best in Alamosa, that gave the bank its prestige. "A report of the depositors' committee made last night showed the bank to have assets of indefinite commercial value." amounting to $373,744. The IIabilities include $198,964 to depositors and $95,000 due to other banks. The report says that considerable paper of the bank is held by other banks as collateral for loans made to the Alamosa bank."

4. October 6, 1905 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, October 6, 1905

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CAN'T BE FOUND. An Alarm Is Sent Out for Abraham Schiffer Who Was Part Owner of Failed Alamosa Bank. ONE BROTHER IN JAIL. I. W. Schiffer Arrested on Embezzlement Charge. Was Unable to Give a Bond of $16,000. New York, Oct. 6.-Through police headquarters a country-wide alarm has been sent out for Abraham Schiffer, a part owner of the Alamosa bank of Alamosa, Colo., which closed its doors a few days ago after $250,000 of its funds were reported missing. Mr. Schiffer left New York last Thursday, ostensibly for Alamosa, and has not been heard from since. He did not reach his destination and telegraph messages to various parts of the country having failed to reach him his brother Herman, fearing that he has met with violence, has asked the police to aid in finding him. One Brother in Jail. Denver, Oct. 6.-A special to the Republican from Alamosa, Colo., says that I. W. Schiffer, one of the owners of the Alamosa bank which went into the hands of a receiver a day or so ago, has been arrested on the charge of embezzlement of a sum in excess of $5,000 belonging to the San Luis Building & Loan association, of which he is treasurer. A preliminary examination was held and bond was placed at $10,000. Other warrants were sworn out against Schiffer charging him with receiving deposits when he knew the Alamosa bank was insolvent. Bonds in these cases totaled $6,000. Failing to supply the entire bond of $16,000, Schiffer was placed in jail. A warrant has been sworn out for Abe Schiffer, another part owner of the suspended bank. but he has not yet been located. It is believed he is in New York. A. sensational development today in connection with the investigation Nof the bank's affairs was the discovery that Hermann Schiffer. a wealthy silk merchant of New York, was in no way connected with the Alamosa bank. It was his name and reputation, which is considered the best in Alamosa, that gave the bank its prestige. A report of the depositors' committee shows the bank to have assets "of indefinite commercial value," amounting to $373,744. Liabilities include $198,964 to depositors and $95,000 due to other banks. The report says that considerable paper of the bank is held by other banks as collateral for loans made to the Alamosa bank.

5. October 7, 1905 Daily Press Newport News, VA
Article from Daily Press, October 7, 1905

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Officials Gained Confidence of Public by a Fake. ONE IS NOW UNDER ARREST An Owner, 1. W. Schiffer Is In Jail Charged With Embezzlement-As. sets Will Not Cover Liabilities-Paper Is Said to Be Worthless, (By Associated Press.) ALAMOSA, Col., Oct. 6.-1. W. Schiffer, one of the owners of the Alamosa bank, which went into the hands of a receiver a day or so ago, was arrested last night on a charge of embezzlement of a sum in excess of, $5,000 belonging to the San Luis Building and Loan Association, of which he is treasurer. Six other warrants were sworn out against Schiffer charging him with receiving deposits when he knew the Alamosa bank was insolvent. A warrant has been sworn out for Abe Schiffer. another part owner of the bank. but he is believed to be in New York. A sensational development in connection with the investigation of the bank's affairs was the discovery that Hermann Schiffer, a wealthy silk merdhnat of New York. was in no way connected with the Alamosa bank. It was his name and reputation. which is considered the best in Alamosa, that gave the bank its prestige. A report of the depositors shows the bank to have assets of "indefinite com. mercial value" amounting to $373,744. The liabilities include $198,964 to depositors and $95,000 due to other banks. The report says that considerable paper of the bank is held by other banks as collateral for loans made to the Alamosa bank.

6. October 9, 1905 Durango Semi-Weekly Herald Durango, CO
Article from Durango Semi-Weekly Herald, October 9, 1905

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no of the person. he can or will fear been that of his place of give he has any description in captivity Oct. 4. --Speculation ALAMOSA. Silverton. combined handling of mines at loss in the attributed the the deposits, apparent is of the the reason Alamosa bank, de for the closing small and large affects both that the depospositors. which bank It is claimed should amount to hand. $203.000 its in and the that only $2,200 been is heard on from So far nothingg has manager of the inAbraham Schiffer, the opinion is prevalent and has something that his bank's stitution. disapearance failure. The do with the school funds. all to and $25,000, county town to something over was amounting defunct bank as were in the building and loan be- as$10,000 of a and $1,000 aloo located here societies. sociation the local secret here to is stated longing BERLIN. Oct. 6.-It and French inGerman, English are planning to surance that companies of insurance conditions in New York. take in advantage the United States to establish inbranches III., Oct. Twelve New PEORIA were returned againt superindietments Dougherty, former state of the charge es ton schools. Ten two for tendent are for of embezzlement and forgery. LOUIS, Oct. Argument to pre- on ST. Ramsey's injunction voting Joseph the Missouri Pacific heard from today before charged for stock vent in Judge the Wabash Taylor. was Counsel that Ramsey for the the Missouri Pacific bad faith and to suit re-election purpose of the brought of causing in his Wabash. a the presidency Oct. -Alone in GILMAN III., with thirty lions, and huge steel cage, 10,000 horrified before the Blondel. a spectators, Miss attacked eyes Aimee of and shockinngly lion of tamer, was a performance mudiated John Robinson's during circus is thought by the trick Miss Roosevelt. It only saved lion. Blondel will die. death She was in the cage States by from immediate troop of United the bullets of a with the circus. a who poured the cavalrymen traveling volley into the body of lion. at 4 o'clock that Miss Blon for It was has handled Roosevelt appearance del, who years. made her lions. Af several thirty performing through with the had put the animals play see-saw their ter she paces, and do making other beasts tricks, them in a circle jump. Miss down Blon del ranged of the the arena or cage, feeding to re the ward center them for their work by them raw meat. has existed for some anoth time between Jealousy the lion Roosevelt Today and Miss lion named Bryan. meat er threw Bryan one bit of smaller Blondel threw Roosevelt a seized and of rage at once cirthen A fit in the piece. the biggest lion Roosevelt. with a roar he sprang move upon cus. and Blondel before she could through the Miss the tawny body shot a gasp As whole audience gave lion's claws air the Then, as the blood of horror. the woman's back and broke spurted sank into forth, pandemonium Men shrieked and loose in the tent. Miss Blondel was and women unconscious fainted. by the attack, with the made the floor of the cage after lay on above her. Roosevelt, in the brute his tamer severely arm wounding back, from the nearly socket. dragged Before injury her right the the caval- beast further from could inflict taken a position fear rymen had could shoot without the audiwhich they Miss Blondel and into lion's body. of ence injuring and had sent a volley the head his afterward risk the of Immediately Harry Reed, at the from the keeper. Miss Blonder circus. life. pulled All the animals in stricken the by cage. the lions, were din was this including time with panic and the tremendous. circus attendants got the as terri- soon The out of the tent still fied audience while Miss Blondel, physh as unconscious, possible, was examined by cians. Roosevelt, meanwhile, score is not of places dead although wounded in made a to save him. he lives An attempt will be will be shackled. He valued and if he superb specimen and is shown is a never been before had exhibitat $5,000. He widely to had accustomed viciousness is thoroughly the animals crowde ed and He was n-American one of exposition and also 6. leased to shown the at the St. Louis fair. Buck, Dudley NEW well-known YORK, American Oct. composer country of to church residence the music. left this abroad. The reason take up permanent for his self-expatriation is not generally known. meeting OURAY, Oct.6- mass for the purheld here last night proposition subwas of considering a on solicitation pose by Otto Mears, to build an mitted people of Ouray, through from the from Ouray Mounelectric railway canon to Red the Uncompahgre with the Silverton connect

7. October 12, 1905 Iron County Register Ironton, MO
Article from Iron County Register, October 12, 1905

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CHARGE OF EMBEZZLEMENT One of the Owners of the Alamosa (Col.) Bank in Jail in Default of $16,000 Bonds. Denver, Col., Oct. 6.-A special to the Republican from Alamosa, Col., says: I. W. Schiffer, one of the owners of the Alamosa bank, which went into the hands of a receiver a day or so ago, has been arrested on the charge of embezzlement of a sum in excess of $5,000 belonging to the San Luis Building and Loan Association, of which he is treasurer. A preliminary examination was held and bonds were placed at $10,000. Six other warrants were sworn out against Schiffer, charging him with receiving deposits when he knew the Alamosa bank was insolvent. Bonds in these cases totalled $6,000. Failing to supply the entire bond of $16,000, Schiffer was placed in jail.

8. October 13, 1905 The Tupelo Journal Tupelo, MS
Article from The Tupelo Journal, October 13, 1905

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CHARGE OF EMBEZZLEMENT One of the Owners of the Alamosa (Col.) Bank in Jail in Default of $16,000 Bonds. Denver, Col., Oct. 6.-A special to the Republican from Alamosa, Col., says: I. W. Schiffer, one of the owners of the Alamosa bank, which went into the hands of a receiver a day or so ago, has been arrested on the charge of-embezzlement of a sum in excess of $5,000 belonging to the San Luis Building and Loan Association, of which he is treasurer. A preliminary examination was held and bonds were placed at $10,000. Six other warrants were sworn out against Schiffer, charging him with receiving deposits when he knew the Alamosa bank was insolvent. Bonds in these cases totalled $6,000. Failing to supply the entire bond of $16,000, Schiffer was placed in jail.

9. October 13, 1905 Morgan County Democrat Versailles, MO
Article from Morgan County Democrat, October 13, 1905

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CHARGE OF EMBEZZLEMENT One of the Owners of the Alamosa (Col.) Bank in Jail in Default of $16,000 Bonds. Denver, Col., Oct. 6.-A special to the Republican from Alamosa, Col., says: I. W. Schiffer, one of the owners of the Alamosa bank, which went into the hands of a receiver a day or so ago, has been arrested on the charge of embezzlement of a sum in excess of $5,000 belonging to the San Luis Building and Loan Association, of which he is treasurer. A preliminary examination was held and bonds were placed at $10,000. Six other warrants were sworn out against Schiffer, charging him with receiving deposits when he knew the Alamosa bank was insolvent. Bonds in these cases totalled $6,000. Failing to supply the entire bond of $16,000, Schiffer was placed in jail.

10. October 14, 1905 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, October 14, 1905

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CHARGE OF EMBEZZLEMENT One of the Owners of the Alamosa (Col.) Bank in Jail in Default of $16,000 Bonds. Denver, Col., Oct. 6.-A special to the Republican from Alamosa, Col., says: I. W. Schiffer, one of the owners of the Alamosa bank, which went into the hands of a receiver a day or so ago, has been arrested on the charge of embezzlement of a sum in excess of $5,000 belonging to the San Luis Building and Loan Association, of which he is treasurer. A preliminary examination was held and bonds were placed at $10,000. Six other warrants were sworn out against Schiffer, charging him with receiving deposits when he knew the Alamosa bank was insolvent. Bonds in these cases totalled $6,000. Failing to supply the entire bond of $16,000, Schiffer was placed in jail.

11. October 14, 1905 The Leader Brookhaven, MS
Article from The Leader, October 14, 1905

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CHARGE OF EMBEZZLEMENT One of the Owners of the Alamosa (Col.) Bank in Jail in Default of $16,000 Bonds. Denver, Col., Oct. 6.-A special to the Republican from Alamosa, Col., says: I. W. Schiffer, one of-the owners of the Alamosa bank, which went into the hands of a receiver a day or so ago, has been arrested on the charge of embezzlement of a sum in excess of $5,000 belonging to the San Luis Building and Loan Association, of which he is treasurer. A' preliminary examination was held and bonds were placed at $10,000. Six other warrants were sworn out against Schiffer, charging him with receiving deposits when he knew the Alamosa bank was insolvent. Bonds in these cases totalled $6,000. Failing to supply the entire bond of $16,000, Schiffer was placed in jail.

12. November 30, 1905 Durango Semi-Weekly Herald Durango, CO
Article from Durango Semi-Weekly Herald, November 30, 1905

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ants to account for depositors money lost in the failed Alamosa bank. People with money in Denver greed. lly up an to a will earn 6 annum. it is house pick that In Durango opportunity per different cent build per per cent dethe best manded. where 18 100 of per annum newspapers is on earth and all the boosters in Chris not do a is in the the city. tendom Durango could much midst, to build center, of the most resourceful 100 miles square on earth. The work of rebuilding the burned Famous store building has been necessarily retarded by the storms of the past few days. First, gangs of men were wheeling snow out in barrows and the storm continuing this was found to be very ,slow work: then it became so cold that a workman dress ed for an excursion to the North pole could not live in the building. Contractor Bell probably hopes for better conditions next summer. People who pay from $10 up for shacks in Durango that coal will not keep warm in winter do 80 because of the city's importance as an educa tional center. Beginning in Septem her those who reside where there are no schools, with those who have worn out the usefulness of the rural school flock to Durango to temporarily create a demand for any kind of abode that would do to hitch a mule in. There is room in Durango for 400 new build ings or apartments at $10 each which will pay 10 per cent net per annum on the investment There is room in Durango for 100 more buildings at $15 which will pay the same annual earn ing. and fifty buildings worth $20 each per month could be rented in a day. -0A miner who has worked in both the La Plata and Silverton districts explained last night why miners prefer to work at Silverton instead of La Plata, where living conditions are bet ter for being where people are a little closer to the world. He said: "You can work anywhere in the Silverton country and come down the hill any day and get your money because the jobs are on producing mines. where men come and go daily. In the La Platat disrict there are few producers and most of the jobs are with companies where you must wait till they make up in the East or West, or somewhere, the amount of the month's pay roll. It will be better in La Plata bye and bye, when there are more producers, and Durango should hope for this consummation. The miner's I wage will always be the most importd ant factor in Durango's trade." Andy Chitwood is down from the y ranch. saying he could not enjoy it if it were not for digging through snow to see if the calf had been to h the cow. s A B. Lowe and M. J. Powers. connected with the Railway Maintenance of Way organization, were on the eastIt ern train this morning, having returned from Silverton. r o Matt Harrington was expected to r arrive in Durango last night, but the train failing to get through, could not come. Mr. Dwyer said today that no d arrangements could be made for the It l'uneral of Jerry Harrington until his y brother arrived. If the train gets o through this evening Matt will come with It. d A four months' building campaign, reconstructing and enlarging the salesrooms of the Graden Mercantile company, has kept a nice, steady flow p of coin drifting toward the open cof fers of many mechanics. is -0o The delayed trains are causing inconvenience to local dealers. W. S. Weightman has sweet potatoes, cel e ery, etc., not to mention $50 worth of r cut flowers tied up. And he is not in e a happy frame of mind over it. b e A tour among the merchants and t markets this afternoon developed that preparations for the holiday tomorrow are quite general. It is indicated that e most of the people have money and Thanksgiving day should be universal ] ly happy in Durango. d Neil Campbell is down from the May Day mine. where he is running t te big cross-cut. Like other people o employed by a company, he knows nothing about the mine. He came down to pay his taxes and had the t money. n e P.B. McAtee says If the people will . read the papers they will discover t that his railroad is not the only one having trouble and not the only one failing to carry freight in or out: that there are others. Mr. McAtee had just got the 1,717th kick about a box his road had shipped that had never gotten through. Building of the two-mile spur of one

13. March 3, 1906 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, March 3, 1906

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HE IS $62,000 SHORT County Treasurer in Colorado Confesses to Dipping Into Funds. DENVER March 2.-Charles H. Brickenstein, who resigned yesterday the office of treasurer in Conejos county, in the southern part of Colorado, has confessed to a shortage of $62,000. Of this amount $19,000 was on deposit in the defunct Alamosa bank. but the balance is unaccounted for. Fred Warshauer, one of the treasurer's bondsmen, has notified the county board that he will pay the shortage In full.

14. April 5, 1906 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, April 5, 1906

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Alamosa Bank Failure Recalled Court Decides Herman Schiffer Was Not a Director. Puehlo, Colo., April 5.-Judge Riuer, of the United States district court, today handed down a decision in the Schiffer bankruptcy case in which he decided that the evidence was insuffleient to show that Herman Schiffer of New York was a director of the Alamosa bank. This released Schiffer from liability of about $200,000, which as a director he had been sued for by the depositors, The proceedings grew out of the failure of the bank at Alamosa which was owned by Isaac and Jacob Schiffer. The case today was to determine whether Herman Schiffer, who is said to be wealthy, was actually a member of the banking firm. The failure was most sensational and created much bitterness against the Schiffers. Out of the deposits, more than $200,000, less than $2,500 was found by the receiver.