12698. First National Bank (Alma, NE)

View Charter #3580 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3580
Charter Number
3580
Start Date
January 9, 1897
Location
Alma, Nebraska (40.098, -99.362)

Metadata

Model
gpt-5-mini
Short Digest
ae169ca7

Response Measures

None

Receivership Details

Depositor recovery rate
3.7%
Date receivership started
1897-01-12
Date receivership terminated
1901-05-20
OCC cause of failure
Fraud
Share of assets assessed as good
1.2%
Share of assets assessed as doubtful
51.0%
Share of assets assessed as worthless
47.8%

Description

Contemporary newspapers report the First National Bank of Alma, Neb., was closed by order of the Comptroller of the Currency in early January 1897 with liabilities roughly $125k–$134k and assets about equal. There is no description of a depositor run; the closure is by government action and the bank subsequently was in receivership (by August 1897 a receiver is explicitly referenced in litigation).

Events (4)
1. October 28, 1886 Chartered
Source
historical_nic
2. January 9, 1897 Suspension
Cause
Government Action
Cause Details
Closed by order of the Comptroller of the Currency; placed in hands of bank examiner/officials.
Newspaper Excerpt
The First National bank of Alma, Neb., was closed by order of the comptroller of the currency and is now in the hands of the bank examiner.
Source
newspapers
3. January 12, 1897 Receivership
Source
historical_nic
4. August 15, 1897 Receivership
Newspaper Excerpt
the bank ... became insolvent and passed into the hands of the receiver, and that officer refused to turn the money over to the McCord-Brady company.
Source
newspapers

Newspaper Articles (10)
1. January 10, 1897 New-York Tribune New York, NY
Article from New-York Tribune, January 10, 1897

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TWO MORE WESTERN BANKS FAIL. Omaha, Neb., Jan. 9.-The First National Bank of Alma, Neb., has closed its doors. It had a capital of $50,000. The liabilities are $134,000, including $40,500 belonging to the State and $1,600 belonging to Harlan County. The assets are reported equal to liabilities. St. Paul, Minn., Jan. 9.-Judge Bunn, upon the petition of Public Examiner Kenyon, yesterday appointed J. F. Fitzpatrick receiver for the Bank of North St. Paul. The bank was capitalized at $25,000, and Captain Henry A. Castle, its president, and until recently postmaster of St. Paul, says it had deposits of only $21,000 and assets of about $35,000. Its deposits were mainly public funds. Its reserve fund was deposited with the Allemania Bank, which failed on Monday, and this was one of the causes of the suspension.

2. January 10, 1897 The Herald Los Angeles, CA
Article from The Herald, January 10, 1897

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DEPOSITORS GET NOTHING Out of the Defunct Dreyer Bank at Chicago Business Failures Reported From Various Parts of the Country, But None of Them of Any Importance. CHICAGO, January 9.-Sensational charges concerning the business of E.S Dreyer & Co., bankers, whose assignment was forced through the collapse of the National Bank of Illinois, were made in Judge Freeman's court today, in an intervening petition brought in behalf of Mrs. Leicht. It is charged that the property mortgaged as security for a note for $3000, upon which Mrs. Leicht was regularly paid interest, had been disposed of without her knowledge and that the schedule of liabilities prepared by the receiver will be greatly increased if other charges of a similar nature, soon to be made the subject of petition are substantiated. The Economist says today, referring to the Dreyer failure: "The depositors in the bank will get little or nothing. A statement that has been prepared shows the bank was an empty shell with some $1,400,000 liabilities when the bank closed with only $9000 cash on hand." WHITE LEAD COMPANY FAILS. CINCINNATI, Jan. 9.--The Walker White Lead company today confessed judgments for about $10,000, and was taken charge of by a deputy sheriff. The paid-up capital of the company is $504,000. No statement of liabilities has been made. The recent sudden death of Martin Weber. its vice-president and financial backer, brought about a pressure by creditors. A receiver will be appointed A CERAMIC COMPANY. NEW YORK, Jan. 9.-The Stewart Ceramic company, manufacturers of washtubs, basins and ceramic ware, today assigned to Anthony R. Porter. The company was incorporated in New Jersey in 1892 with a capital of $200,000. AN ORCHARDIST. SAN JOSE, Jan.9.-A. E. Newby, orchardist and fruit dryer, has gone into insolvency. Liabilities, $32,947, with assets valued at $12,000. consisting of a tract of land near the city. This is mortgaged for its full value. Of the liabilities $9,144 is due the Union Savings bank of this city and is secured by the mortgage. The sum of $8019 is due J. K. Armsby company, San Francisco He ascribes his failure to general dull times. AT ALMA, NEBRASKA OMAHA, Neb. Jan. 9.-A special to the Bee from Alma, Neb., says: The First National bank of this city was closed this morning by order of the comptroller of the currency and is now in the hands of the bank examiner. Liabilities are $125,000, with assets about the same. The chief item of indebtedness is a state deposit of $40,000 A BOS CORE GONE. SYRACUSE TBY Jan. 9. The book and stationery firm of Thomas Durston & Son was closed today.

3. January 12, 1897 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, January 12, 1897

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Troubles in the Business World. NEW YORK, Jan. 11.-Koch, Dreyfus & Co., wholesale jewelers, have suspended. The amount involved is said to be about $200,000. The firm came from New Orleans in 1889, where its business was established forty years earlier by Nathan Koch. ALMA, Neb., Jan. 11.-(Special Telegram.) -Over complications arising from the failure of the First National bank, in this city, the hardware firm of Moore & Mudgett was closed this morning on a. chattel mortgage held by the Lee-Clarke-Andreesen Hardware company of Omaha. The mortgage calls for $2,084. and there are other obligations, aggregating $900 more. The stock will more than pay the claims against it, but the failure is a surprise to everybody. Moore & Mudgett have been in business in Alma for twelve years, and were considered among the best of business men.

4. January 14, 1897 The Worthington Advance Worthington, MN
Article from The Worthington Advance, January 14, 1897

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Five young men who comprise a gang of the most daring bank swindlers and forgers that has operated in this country in 20 years were captured in Chicago. The number of steerage passengers landed at Ellis island during 1896 was 252,350. There were 99,223 cabin passengers landed at the port of New York during the same period. Fire destroyed property at Athens, Tex., valued at $100,000. Fire destroyed the entire business portion of Royalton. Wis. In Minnesota the Bank of Canton at Canton and the Citizens' bank of Lanesboro, both owned and operated by Field, Kelsey & Co., suspended business. J. H. Johnston & Co., silversmiths and jewelers in New York, failed for $250,000. Simon Cooper, a negro outlaw, murdered Ben Wilson, aged 80 years, his son Wesley, aged 40. and Mrs. Wesley Wilson, aged 35, and a colored man at Magnolia, S. C. The refusal of Wilson to loan Cooper a buggy was the cause. Senator-elect Money, of Mississippi, arrived at Tampa, Fla., from Cuba and left for Washington. The Bankers' exchange bank in Minneapolis, Minn., which suspended some days ago, has resumed business. William J. Bryan was the guest of the Bryan league at a banquet given at the Tremont house in Chicago in celebration of the anniversary of Andrew Jackson's birth and made the principal speech. Anthony Henderson, a negro arrested for the murder of George Summer at Unadilla, Ga., and attempted assault upon his daughter, was lynched by a mob. John Vaughan and Gus Homer, armed with a pistol and knife, engaged in a duel at Memphis, Tenn., and both were fatally wounded. The fiftieth session of the general assembly of Indiana met in Indianapolis. Henry C. Pettit, of Wabash, was chosen speaker of the house. The American national bank of Denver, Col., which suspended April 21, 1896, has reopened its doors. The United States dispatch boat Dolphin arrived at Jacksonville, Fla., to watch filibusters. Howard Wilson and Miss Fay Rawls broke through the ice while skating at Creston, la., and in saving the life of the young lady Wilson lost his own. William Speidel, 21 years of age, was robbed and murdered while on his way to be married at Port Jervis, N. Y. R. G. Dun & Co., of New York, in their weekly review of trade say that while banking failures have not ceased at the west, apprehension about them has almost wholly subsided and no serious influence upon general trade is expected Thomas Wilson, accompanied by his daughter, Mrs. Kinnery, and her tive children, attempted to ford Práirie creek near Plato, Mo., and the children were all drowned. The exchanges at the leading clearing houses in the United States during the week ended on the 8th aggregated $1.144,639,080, against $1,055,921,223 the previous week. The decrease compared with the corresponding week of 1896 was 7.6. There were 488 business failures in the United States in the seven days ended on the 8th, against 329 the week previous and 405 in the corresponding period of 1896. In his message to the Missouri legislature Gov. Stone advocated the hanging of persons convicted of train robbery. The Bank of North St. Paul, Minn., closed its doors with liabilities of $25,000. Robbers blew open a safe in the post office at Blooming Grove, Tex., and secured $9,000. The office of the Leader, a newspaper at Montpelier, O., was burned, the loss being $10,000. Simon Cooper, a negro outlaw, who murdered thaee members of the Wilson family and a colored servant, was lynched near Sumter. S.C. Gov. Matthews in his last message to the Indiana legislature expressed strong sympathy for the Cuban insurgents and advocated compulsory education and a law prohibiting the formation of trusts in the state. The North Carolina legislature passed a resolution instructing the senators and congressmen from that state to try and bring about the passage of an act recognizing the independence of the patriots of Cuba. Charles Walstrom and Mike Martin, who lived on an island across the bay from Charlevoix, Mich., were murdered by unknown parties. The First national bank of Alma, Neb., was closed with liabilities of $134,000. Robert Laughlin was hanged at Brooksville, Ky., for the murder of his invalid wife and 14-year-old niece. After the murder he set fire to the house and the bodies were consumed. Senator-elect Money, of Mississippi, who has just returned to Washington from a two weeks' visit to Cuba, says that Spain is unable to cope with the insurrection: that she will never put it

5. January 14, 1897 River Falls Journal River Falls, WI
Article from River Falls Journal, January 14, 1897

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At Unodilla,Ga.,Anthony Henderson,a negroarrested for the murder of George Summer and attempted assault upon his daughter, was lynched by a mob. Gus Homer and John Vaughn, armed with a pistol and knife, engaged in a duel at Memphis, Tenn., and both were fatally wounded. The general assembly of Indiana met in Indianapolis. Henry C. Pettit, of Wabash, was chosen speaker of the house. At Denver, Col., the American national bank, which suspended April 21, 1896, has reopened its doors. While skating at Creston, Ia., Howard Wilson and Miss Fay Rawls broke through the ice and in saving the life of the young lady Wilson lost his own. Near Plato, Mo., Thomas Wilson, accompanied by his daughter, Mrs. Kinnery and her five childrer. attempted to ford Prairie creek, and the children were all drowned. Gov. Stone in his message to the Missouri legislature advocated the hanging of persons convicted of train robbery. Near Sumter, S. C., Simon Cooper. a negro outlaw, who murdered three members of the Wilson family and a colored servant, was lynched by a mob. The doors of the Bank of North St. Paul, Minn., were closed with liabilities of $25,000. Burglars blew open a safe in the post office at Blooming Grove, Tex., and secured $9,000. In his last message to the Indiana legislature Gov. Matthews expressed strong sympathy with the Cuban insurgents and advocated compulsory education and a law prohibiting the formation of trusts in the state. A resolution was passed by the North Carolina legislature instructing the senators and congressmen from that state to try and bring about the passage of an act recognizing the independence of the patriots of Cuba. Fire destroyed the office of the Leader, a newspaper at Montpelier, O., the loss being $10,000. Mike Martin and Charles Walstrom, who lived on an island across the bay from Charlevoix, Mich., were murdered by unknown parties. Flames destroyed the stables of the Norfolk (Va.) Driving Club and Fair association, together with 13 race horses valued at $30,000. The oldest odd fellow in Missouri, John T. Dowdall, and the second oldest in the United States, died in St. Louis. At Janesville, Wis., Herman Slimm killed his wife and son and then committed suicide. Domestic trouble was the cause. A train on the Big Four road ran from St. Louis to Cleveland, 548 miles, in 10 hours and 4 minutes. The doors of the First national bank of Alma, Neb., were closed with liabilities of $134,000. At Brooksville, Ky., Robert Laughlin was hanged for the murder of his invalid wife and 14-year-old niece. After the murder he set fire to the house and the bodies were consumed. Fire destroyed the First Baptist church at Portage, Wis. The packing houses of the Anchor flour mill at Minneapolis, owned by the Pillsbury-Washburn Milling company, was burned. Loss, $200,000. A fire in the big leaf tobacco factory of the American Tobacco company at Danville, Va., caused a loss of $150,000. P. W. Hisson and James O'Connell, two bridgemen, fell from a trestle near Butte, Mont., and were killed. The following governors were inaugurated: John R. Tanner (rep.), IIIinois; James A. Mount (rep.), Indiana; John W. Leedy (pop.), Kansas, and Lon V. Stephens (dem.), Missouri. Chicago consumed 3,198,222 barrels of beer during the past year, an increase of 549,887 over the year 1895. In Cincinnati the Ohio Photograph company, capitalized at $1,000,000, went into the hands of a receiver. An attempt was made to wreck a through express between Chicago and CL Poul on the Chicago,

6. January 16, 1897 The Neihart Herald Neihart, MT
Article from The Neihart Herald, January 16, 1897

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The Oregon Shortline sells for $5,447,500. Late reports from Cuba state that Maceo still lives. James J. Corbett knocks ont his stage manager at Detroit, Mich. Daniel F. Dawes ex-governor of Maine dies of heart disease. American Tobacco Works in Danville, Va. goes up in smoke. Loss $150,000. An earthquake shakes up the Swedes in Stockholm, Sweden. The First National bank of Alma, Neb. goes under, liabilities $125,000. Gov. Matthews, of Indiana, in his message to the legislature strongly advocates the recognition of Cuban beligerency. The city of Bozeman is considering a proposition to bond the city for $200,000 in order to purchase the Bozeman Waterworks. 160 Texans put to flight 300 Spanish soldiers, killing 5 and wounding 40 more, besides capturing a supply train. Special Bank Examiner Foreman, of Missouri, takes the place of E. D. Edgerton as rcceiver of the First National of Helena. Senator Hansbrough has been chosen as the nominee for the Senate by the republicans of North Dakota, which means his re-election on Jan. 19. A strike made in the Kennedy mine at Grass Valley, Cal., at a depth of 2,100 feet shows a body of very rich ore 30 feet wide. Lady Selina Scott, mother-in-law of Earl Russell gets 8 months in the British pen for slandering her sonin-law. Presidential electors Brown, Frank and Maginnis met last Monday and went through the formality of casting their votes for Bryan. Mill workers in the employ of Carnegie, at Pittsburg and Homestead, Pa. organize a company with $2,000,000 capital, to build and operate iron and steel works at Port Angeles, Puget Sound. Senator Vest receives the Democratic caucus nomination for the United States Senate at Jefferson, Mo. The legislature will vote on the subject Jan. 19, and it is assured that he will be re-elected.

7. January 16, 1897 The Diamond Drill Crystal Falls, MI
Article from The Diamond Drill, January 16, 1897

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a resolution instructing the senators and congressmen from that state to try and bring about the passage of an act recognizing the independence of the patriots of Cuba. Charles Walstrom and Mike Martim. who lived on an island across the bay from Charlevoix, Mich., were murdered by unknown parties. The First national bank of Alma, Neb., was closed with liabilities of $134,000. Robert Laughlin was hanged at Brooksville, Ky., for the murder of his invalid wife and 14-year-old nieco. After the murder he set fire to the house and the bodies were consumed. Senator-elect Money, of Mississippi, who has just returned to Washington from a two weeks' visit to Cuba, says that Spain is unable to cope with the insurrection; that she will never put it down; and will never end the war with victory to herself. Altman & Co., clothiers at Buffalo, N. Y., suffered a less of $150,000 by fire. Prof. Brooks, of Geneva, N. Y., announces observations of an enormous sun spot now on the sun's face and visible to the naked eye through a smoked gless. Fire destroyed the stables of the Norfolk (Va.) Driving Club and Fair association. together with 13 race horses valued at $30,000. Herman Slimm killed his wife and son at Janesville, Wis., and then committed suicide. Domestic trouble was the cause. A national congress of mothers will assemble in Washington on February 17 next to discuss the best methods of inculcating into the minds of children principles of patriotism and humanity and the development of all qualities tending to ennoble the minds of the young. The First Baptist church at Portage, Wis., was destroyed by fire. Mrs. Oscar Adams was found starved to death in her home in Altoona. Pa., and her husband was nearly dead for want of food. A special train on the Big Four road ran from St. Louis to Cleveland, 548 miles, in 10 hours and 4 minutes. The Merchants' state bank of Hoising ton, Kan., has gone out of business, pay ing depositors in full. Fire destroyed the packing houses of the Anchor flourmill at Minneapolis. owned by the Pillsbury-Washburn Milling company. Loss, $200,000. Fire in the big leaf tobacco factory of the American Tobacco company at Danville, Va., caused a loss of $150,000. James O'Connell and P. W. Hisson, two bridgemen, fell from a trestle near Butte, Mont., and were killed. The ashes of Kate Field were interred in Mount Auburn cemetery in Boston by the side of her mother. The visible supply of grain in the United States on the 11th was. Wheat. 53,872,000 bushels; corn, 20,526,000 bushels; oats, 13,676,000 bushels; rye. 3,160,000 bushels; barley, 4,076,000 bushels. A counterfeit of the $20 United States silver certificate has been discovered in Washington. The note is of the series of 1891, check letter B, and the treasury numbers are too heavy and out of alignment. Secretary Olney, in behalf of the United States, and Sir Julian Pauncefote, on the part of Great Britain, have affixed their signatures to a new treaty by which, for a term of five years, the two English-speaking nations agree to settle all questions of controversy by arbitration. The Ohio Photograph company, capitalized at $1,000,000, went into the hands of a receiver in Cincinnati. Koch, Dreyfus & Co., wholesale jewelers in New York, failed for $200,000. Governors were inaugurated as follows: John R. Tanner (rep.), Illinois; James A. Mount (rep.), Indiana; John W. Leedy (pop.), Kansas, and Lon V. Stephens (dem.), Missouri. The formal hearings by the waysand means committee of representatives of various industries who seek to have the tariff rates changed were concluded in Washington. While attending a dance in Rowan county, Ky., Gus Springer and Mack Mullen fought with knives and both were fatally wounded. The banking house of Smith, Holtz & Ranney, of Greensprings, O., closed its doors. During the past year Chicago consumed 3,198,222 barrels of beer. an increase of 549,887 over the year 1895. A desperate attempt was made to wreek a though express between Chiengo and St. Paul on the Chicago & Northwestern road at Tiffany, Wis., but the obstructions placed on the track were discovered and removed. John L. Sullivan, whose fists have earned for him in his time nearly $500.000, made oath in the poor debtors' court in Boston that he was penniless. Joseph Burkhardt, an old and promi nent resident of Edwardsville, III., shot and killed his wife and then fataliy shot

8. January 16, 1897 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, January 16, 1897

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commodations and in every way less likely that they will be affected by the embarrassment of unstable firms. This is causing much trouble to legitimate firms who have temporary need of credit. NEW YORK, Jan. 8.-R. G. Dun & Co. 8 weekly review of trade tomorrow will say Of the 15,286 commercial and banking failures in 1896, with liabilities of $276,845,749, a large share represented crippling losses in previous years, or the violence of speculative storms in 1895 or the first half of 1896, while thousands more resulted from the fury of the political tornado last fall. Banking failures amounting to $50,718,915 during the year averaged $256, each, and were 145 per cent. larger than in 1895. Commercial failures amounted to $226. 996,834, a little over $1, 000, 000 having been added by the last day of the year. but the average of liabilities, $14,992, was smaller than in some years of great prosperity. The failures of brokerage and 'other' commercial concerns averaged $58,418 each increasing 183 per cent. over 1895, while manufacturing failures averaged $28,808 each and increased 34 per cent., and trading failures increased not 18 per cent. and averaged only $9,066 each. Over four-fifths of the increase in manufacturing and trading failures was in lumber manufacturing, 170 per cent. dry goods, 50 per cent.; woolen manufacturing, 161; clothing trade, 20; shoe trade, 87; leather and shoe manufactures, 167; grocery trade, 33; machinery, 70; milling, 117; furniture, 90, and printing, 97 per cent. In ten other branches the increase was moderate in amount, and in five, with the unclassified manufacturing and trading failures, the liabilities were smaller than in 1895. Bradstreet's tomorrow will say With the exception of reports from a dozen South Atlantic Coast and Gulf State cities jobbers at nearly all distributing centres say business is dull and without new features. At most centres salesmen are just starting out. Collections are reported unsatisfactory, but in many instances merchants express themselves as hopeful of good spring business. J. W. S. Lindley, treasurer of Humboldt county, Iowa, has been arrested charged with being $20,000 short in his accounts. Fall River mill owners are considering an agreement to curtail production two days a week, and also a plan to export one million pieces of the present stock of cloth. On Sunday Mrs. Oscar Adams was found starved to death in an upper room of a Fourth street tenement house at Altoona, Pa. Her husband was found by her side half crazed, and in a critical condition for want of food. The coroner says he will make a thorough investigation of the case. The Board of Health reports 65 families, 300 persons in all, utterly destitute. Marshal Frey, of Baltimore, Md., says that there-has been more distress and robbery in that city than for a long period. Jones & Laughlin, manufacturers of architectural iron, of Pittsburg, Pa., brought suit in the United States Court, at Columbus, Ohio, on Saturday, for a receiver for the Southern Hotel Company. The company has a capital stock of $400, 000. The Central Trust Company, of New York, has filed a suit in the United States Court, at Columbus, Ohio, against the Columbus and Hocking Coal and Iron Company, to foreclose a mortgage securing $910,000 of the company's bonds held by the Trust Company. The Walker White Lead Company, of Cincinnati, which has a capital of $500,000, is reported in financial difficulties. An application having previously been made at Ashland, Wisconsin, for the appointment of a receiver for the Shores Lumber Company, E. A. Shores and his son, E. A. Shores, Jr., made a personal assignment on Saturday morning to exGovernor Upham, who filed a bond in the sum of $200,000. The Builders and Traders' Exchange Company, of Milwaukee, Wisconsin, has assigned. The assets are about $120,00 The First National Bank of Alma, Nebraska, closed its doors on Saturday. Liabilities about $134,000, and assets $160,000. A receiver was appointed on Saturday for the Bank of North St. Paul, Minnesota. Noble H. Creager, J. Reese Pitcher and Harry S. Rayner, co-partners. trading as Pitcher & Creager, and also individually, made an assignment for the benefit of their creditors on Monday. They are one of the largest brick manufacturers in Baltimore, Md. Paralyzed the Old Man. Loador

9. January 26, 1897 The Silver Messenger Challis, ID
Article from The Silver Messenger, January 26, 1897

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"The Prosperity Wave." The "wave of prosperity" that has struck our country since the election of McKinley has been something wonderful. Following tells the story of last week's "good times :" The Commercial bank of Eau Claire, capital $30,000, closed on Thursday. McMaster & Co., wholesale dry goods dealers, at Toronto, Ont., have assigned. J. H. Johnston & Co., of New York city, dealers in jewelry, have assigned. A receiver of the Milledgeville Cotton Mills, in Montgomery county, N. C., has been appointed. J. H. Valentine, formerly of Lynchburg, Va., but now of Norfolk, has filed a deed of assignment. Modiste Dupuis, of Chicago, has made an assignment. In March he claimed a capital of $13,000. The Decamp-Levy Company, of Cincinnati, Ohio, wholesale saddlery manufacturers, assigned Thursday. Storm Lake College, at Jefferson, Iowa, is financially embarrassed, and the president and faculty have resigned. W. H. Spaulding & Co., dealers in paints and paper hangings, Lowell, Mass., havegone into insolvency. Lincoln B. Wells, of Deerfield, Mass., a farmer and dealer in cream and milk has made a voluntary assignment. H. L. Kennedy, of Lexington, Va., general dealer in queensware, tinwars, etc., has assigned for the benefit of his creditors. The Columbia Drill Company, of Liberty, Ind., which manufactured farm implements, has gone into the hands of a receiver. The Smith-Kavanah Company, shoe manufacturers of Rochester N. Y., has been closed by the sheriff on judgments for $6,200. Brown & Tilton, shoe manufacturers, at Haverhill, Mass., have made an assignment. They began business in July last with $5,000 capital. The Mercantile Trust Com pany, of New York, has filed a bill in St. Louis for a foreclosure against the St. Louis, Salem and Arkansas railroad. The G. H. Raynor Company, of Kalamazoo, Mich., booksellers and stationers, have filed trust mortgages aggregating $10,000 in favor of a number of creditors. The First National Bank of Alma, Nebraska, was closed on Saturday morning by order of the Comptroller of the Currency and is now in the hands of the bank examiner. Frank H. Boughton, dealer in dry goods, at Toledo, Ohio, has made an assignment. He also has a branch at Bowling Green, Ohio. He claimed a capital of $50,000. W.P. Callahan & Co., of Cin cinnati, Ohio, manufacturers of ice-making machinery, have filed a petition in the common pleas court for the appointment of a receiver. The Southern Paper and Wood enware Company, of Memphis Tenn., has made an assignment On November 1 the compan claimed to have assets of $84, 000 and liabilities, $2,000,

10. August 15, 1897 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, August 15, 1897

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# Sues a Defunct Bank. The McCord-Brady company of this city has brought an action against the First National bank of Alma to recover on some paper sent to the bank for collection. The plaintiff sent a note for $500 to the bank, and also a check for $47.77. The bank collected $100 on the note, and made out its draft for the check, but before turning either over to the plaintiff, became insolvent and passed into the hands of the receiver, and that officer refused to turn the money over to the McCord-Brady company.