12854. Central Nebraska National Bank (Broken Bow, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3927
Charter Number
3927
Start Date
June 12, 1891
Location
Broken Bow, Nebraska (41.402, -99.639)

Metadata

Model
gpt-5-mini
Short Digest
21bc183d

Response Measures

None

Receivership Details

Depositor recovery rate
5.0%
Date receivership started
1891-07-21
Date receivership terminated
1897-09-07
OCC cause of failure
Fraud
Share of assets assessed as good
26.9%
Share of assets assessed as doubtful
66.3%
Share of assets assessed as worthless
6.7%

Description

Newspaper dispatches (June 12, 1891) report the Central Nebraska National Bank of Broken Bow was closed by order of the Comptroller of the Currency; crop failures and poor investments caused the failure. A receiver (Henry C. Russell) was appointed by the comptroller later in July 1891. No run or depositor panic is described in the articles.

Events (4)

1. September 28, 1888 Chartered
Source
historical_nic
2. June 12, 1891 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Crop failures and poor investments led to insolvency; closed by order of the Comptroller and examiner took charge.
Newspaper Excerpt
The Central National bank, of Broken Bow, Neb., closed its doors this morning. ... The Central National bank closed its doors this morning on an order from the comptroller of currency at Washington. John McHughes, United States bank examiner, has taken charge of the institution. Crop failures last year and poor investments led to the failure.
Source
newspapers
3. July 21, 1891 Receivership
Source
historical_nic
4. July 21, 1891 Receivership
Newspaper Excerpt
The comptroller of the currency has appointed Henry C. Russell of Schuyler, Neb., receiver of the Central Nebraska National Bank of Broken Bow, Neb.
Source
newspapers

Newspaper Articles (6)

Article from The Wichita Daily Eagle, June 13, 1891

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FAILURES. OMAHA, Neb., June 12.-The Central National bank, of Broken Bow, Neb., closed its doors this morning. No particulars are yet obtainable. BROKEN Bow, Neb., June 12.-The - Central National bank closed its doors this morning on an order from the comptroller of currency at Washington. John McHughes, United States bank examiner, has taken charge of the institution. Crop failures last year and poor investments led to the failure. It is believed, however, that the depositors will be paid in full and that the stockholders will lose but little. NEW York, June 12.-The London clothing store, at Nos. 84 and 86 Bowery, and Mack & Co., clothiers, at 433 to 437 Broadway, both owned by Isaac Rosenheim and Isaac Mack, assigned today. Dull trade and unfortunate note endorsements are given as the causes of the failure. Mr. Mack says the firm's liabilities are between $250,000 and $275,000, only 10 per cent being borrowed money. The assets are not made public.


Article from The Seattle Post-Intelligencer, June 13, 1891

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SEATTLE, WASHINGTON, SATURDAY, JUNE 13, 1891. General Wagner before the council comby the supre mittee of Philadelphia. Nettleton said law is un THE BANK SCANDALS I never backed Nelson F. Evans or any other against a O. RETURN OF LAUGHTON. person as a candidate for the receivership of the WAS today suspended Keystone bank. After the bank had Dealers' Asso all stands wb been closed some days, and when the comptroller of the currency, who had little acquaintto close up a Assistant Secretary of the Treasance in Philadelphi. was considering several under pain o The Violinist Emerges From names for the receivership, I suggested Evans open on Sun ury Nettleton Smirched. the Conconully Hills. and recommended that the comptroller makeinQuite a few quiries in Philadelphia as to his fitness, which wardly at the be proceeded to do. I had not a suspicion compelling t HE OWED THE SPRING GARDEN. of any financial weakness nor complication on say they are will close als the part of Evans or of the Spring Garden bank WANTS HIS MINING BILLS PAID. until the announcement of the failure of the pose a picnic Restaurant bank. Evans had no knowledge that his name ICES. Endeavored to Have a Friend Made would be mentioned for the Keystone receiverafternoon by ers' Associat ship until some time after it was done. I sugA Cowlitz County Logger Fatally Receiver of the Keystone. gested his name simply because I had known Sunday. uded him long and believed him in every way fit. I Impaled by a Splinter. DICE have borrowed no money from the Spring Garden bank, but it is probable there are certain acNotorious 8 Examiner Drew Prefers the Chargecommodation notes on which I am responsible. the If so I simply among the losers by the bank's Death of Dick Gerdes, Leader of the Wanamaker's Skirts Clear-Another PORTLAND, failure, which I regret. Portland Democracy-Fatal Accident Pal of Bardsley's Arrested-Deficit Richard Ger BROKEN Bow, Neb., June 12.-The Centhis evening in State Funds Growing. in the Big Bend-Decision Against tral National bank closed its doors this debility, aged Agricultural College Commissioners. morning on an order from the comptroller a prominent of the currency. The bank examiner has municipal pc elected to th taken charge. The crop failure last year present term fact PHILADELPHIA, June 12.-National Bank and poor investments led to the failure, As the electic OLYMPIA, June 12.-[Special.]-LieutenExaminer Drew was seen tonight in rebut it is believed that the depositors will ant-Governor Laughton arrived this evennotice requir gard to the statement attributed to him by be paid in full and that the stockholders to be appoint ing, and tomorrow a meeting of the minGeneral Wagner this afternoon, that Netwill lose but little. The bank officials exGerdes was ing bureau will be held, and a test case will pect to reopen soon. ticton was a large borrower of the Spring resident of be made as to the position of the state auGarden bank. When first asked if he had Oregon and 1 NEW York, June 12.-The London and ditor in refusing to honor vouchIt is stated th made such a statement to Wagner, Drew Liverpool Clothing Company, 86 and 88 San Francisc ers of the surveyors and geologist in S, said it was absolutely false. Drew afterBowery, and Mack & Co., clothing, 467 cause of deat charge of the geological survey. Connected ward withdrew his denial and qualified it Broadway, failed today. Both concerns a long siege of with the lieutenant governor's return apby saying he had no recollection of having are owned by the same parties, Isadore pears to be a little friction, or at least an Rosenheim and Isaac S. Mack. The firm said anything on the subject, but still it IMPAI assertion of authority, between himself was possible Wagner's memory was better claimed to have a capital of $100,000, and and Governor Ferry as to who has the Horrible I than his. Drew was then asked if it was was carrying a large stock. Mack does power to call a meeting of the mining so that General Nettleton was a qorrower not think the liabilities will exceed $250,KELSO, Jun bureau. The bureau consists of the govof the bank, but refused to answer, saying 000 to $275,000. He could not give any dent, resulti ernor, lieutenant governor and state he was not allowed to answer a question detinite idea of the assets as yet. camp, six m treasurer. The lieutenant governor was like that. Drew was very averse to saying The World prints this dispatch from timber-faller elected president and the state treasurer Philadelphia: The details of the conferanything whatever, intimating that Netwhich, before secretary, consequently a majority of the sapling. The tleton was the proper person to see on ence that occurred on the Saturday night board can call a meeting at any time. back with g the subject, and not he. before President Marsh's flight would cast In the latter part of May Governor Ferry which penetr Another arrest was made this afternoon more light upon the mystery that envelcalled a meeting for June 16, and Lieutenman, going n in connection with the treasury scandal. opes the affairs of the Keystone bank than stick being fe rich ant-Governor Laughton was notified. On anything yet brought out. A large sum H. H. Yard, a former partner of President hours. This Wednesday evening Lieutenant-Governor of money was offered to Marsh and LawLucas, deceased, of the Keystone bank, in have occurred Laughton wired Secretary Lindsley to call ylish seaside speculations, was captured in Trenrence to leave the country. The sum a meeting for the 13th; that he would start Sumas ton, N. where he is being held to await mentioned to your correspondont by his immediately for home. From the lieutenSUMAS, Jun informant is $20,000 each and an assurance requisition papers. Yard was a real estate in S William Dev ant-governor's action it is evidently promoter and closely connected with Presof one week's start on the way to liberty. butcher busin his intention to assert his authority President Marsh sailed for the Barbadoes ident Marsh, of the Keystone bank. He and were arre as president of the mining bureau. left the city a few days after Marsh disapon the following Wednesday, under an asof a telegram Mr. Lindsley will probably remain neutral sumed name. Lawrence, the assistant ing money un peared. The warrant upon which Yard and view the situation from a comfortable home yestero was arrested was issued on a charge of cashier, declined peremptorily. He seat on the fence. It matters but little to preliminary € said that whatever he had done had conspiracy with ex-Treasurer Bardsley him whether they meet or how often, but tice Van Val re. been at the direct command of in stealing city and state taxes. missed after I he will not permit himself to be the cause Lucas and Marsh, and that he had never The alleged conspiracy between Bardshearing. Att of any disagreement between Laughton ley and Yard was discovered profited to the extent of one penny by the of Seattle, w and the governor. falsification of the books of the bank. He debts of Wol by experts Wednesday. On that night a The object of the meeting is to audit the citizens of B warrant was sworn out by Expert Acis already under large bail, which was vouchers of those employed by the geologlosers by the countant Faunce. Yard was finally traced furnished by his father-in-law, and he did ical survey and present them to the audto Trenton this afternoon, after a long not contemplate leaving his bondsmen in He Th itor for payment. The auditor, it is underthe lurch. He has decided to face the chase. Yard was given a hearing on the VANCOUVER stood, will refuse to honor them, on the music and give the committee all the affidavit charging him with conspiracy to ward Payson, ground that the appropriation was illegal, serious diffic misuse public funds and, released on $10,information in his power. John Bardley but the preliminaries will be carried a sum of mon 000 pending requisition proceedings was present at that very important interout and the matter then turned ably languish against him. The public money used by view, and he importuned Marsh and Lawover to the supreme court for decision. It out on a jam Bardsley in conjunction with Yard rence to go away until he could "arrange will take but a short time to gain this inpounded with amounts to $200,000. matters. Bardley never appears as having formation and set matters right. At the plate glas United States District Attorney Reed contemplated flight, but fully expected to drug store. 1 present nearly $2,000 remains unpaid, have the bank reorganized and to come appeared before the investigating commitpassing the n and for which vouchers have been out after entanglement safely. glass front of tee of the council today and made a perdrawn up. Those in the field have


Article from The Morning Call, June 13, 1891

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CONDENSED TELEGRAMS. OMAHA, June 12.-The - Central National Bank of Broken Bow, Nebr., closed its doors this morning. NEW YORK, June 12.-At - Henry Villard's office this morning it was stated that Villard when last heard from was in the Hartz Mountains in Germany. CINCINNATI, June 3.-David L. and John S. Lytle, dealers in boots and shoes, under the firm name of Lytle & Co., assigned last evening. Liabilities, $160,000; assets, $90,000. FOSTORIA (Ohio), June 12.-Two children of William Stewart, while playing with matches in a barn this afternoon, set the structure on fire, and both perished in the flames. BUENOS AYRES, June 12.-Owing to public opposition to the measure, the Senate has decided to reconsider the passage of the bill to suspend gold payments for a period of six months. LONDON, June 12.-A requiem in honor of the late Sir John A. Medonald, Canadian Premier, was sung in Westminster Abbey this morning. A number of the most distinguished people were present. BOSTON, June 2.-Union Pacific's April statement of the entire system shows thenet earnings $925,000, a decrease of $110,000. For four months, to April 30th, the netearnings showed an increase of $417,000. HARTFORD (Conn.). June 12.-Governor Bulkeley denies the rumor that he will resign and allow Lieutenant-Governor Merlin, the Republican candidate for Governor last November, to assume the gubernatorial duties. LONDON, June 12.-The men employed in all the omnibus yards have resolved to accept the employers' offer of twelve hours' work per day and a slight increase in wages. The omnibus traffic will be resumed tomorrow. NEW YORK, June 2.-Friends of John D. Rockefeller deny the report from Cleveland that he is seriously ill. He has been suffering from overwork, and will probably take a complete rest at his Cleveland home for the summer. WASHINGTON, June 12. -The - courtmartial in the case of Commander Lyon, charged with negligence in stranding the Triana while on the way to rescue the crew of the Galena, which was wrecked at Gay Head, found that the officer was not guilty.


Article from St. Paul Daily Globe, June 13, 1891

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FOR BUSY PEOPLE. The Rock Island-Union Pacific bridge trial is still being argued at Omaha. M. E. Stone, of Chicago, yesterday withdrew his name as a candidate for chief of the department of foreign affairs of the world's fair. Gen. N. P. Chipman, of California,was made chief of the bureau of horticulture in place of Walter Maxwell. Extensive preparations will be made for the accommodation of labor and economic congresses of all kinds which may meet in Chicago during the wolrd's fair. The Illinois and Massachusetts legislatures adjourned yesterday. The Central national bank of Broken Bow. Neb., has been closed by order of the comptroller of the currency. Edward A. Hannegan, of Washington, was shot and killed yesterday at Fortress Monroe, Va., by a son of Col. Peter C. Hains, of the engineer corps of the army. The Germans recently captured by Turkish brigands have arrived at Dresden. Banker Pape has died from wounds inflicted by the brigands. Members of an expedition to Alaska for minerals have returned after great hardships. James Ingraham, of San Diego, died of starvation, and his body wasdevoured by wolves. Assistant Secretary Spaulding has decided that queen bees are entitled to entry free of duty. C. Mason Moody, treasurer of Franklin county, Massachusetts, is short $16,168 in his accounts, but relatives have turned over enough property to make good his loss, The National Furniture Manufacturers' association, in session at Boston, adjourned yesterday after electing the following othcers: President. Joseph G. Sextro, Cincinnati secretary and treasurer, Henry "Rikoff, Cincinnati; first vice president, P. N. Davis, St. Louis; second vice president, F. R. HonoΓ, of New York; third vice president, G. W Gay, of Grand Rapids. Comptroller Lacey's statement in regard to the Keystone bank failure was submitted to the president yesterday, but will not be made public until submitted to the Philadelphia common council. The Pacific Portrait company, having branches in Chicago and New York, is in trouble on charges of fraud. The New York manager has been arrested. Edward Atkinson yesterday addressed the typographical convention in Boston on the liberty of the individual, and lively demonstrations of disapproval greeted some of his remarks. A vote of thanks was tendered him, however. at the cl. se of his remarks. Only routine business was transacted. The Elliott murder trial is making slow progress at Columbus, O. A female school teacher has applied for a position as a railway mail clerk, saying she is prepared to face all the trials of the position. The London omnibus strike has been settled on the basis of twelve-hours a day and a slight increase in wages. A requiem in honor of Sir John Macdonald was sung yesterday in Westminster abbey. Sir William Gordon Cumming's name has been dropped from the list of army officers in her majesty's service. Mack & Co., clothing dealers in New-York have assigned, with liabilities of $500,000. Jacoit Morris, of Hamilton university, has been elected to the chair of rhetoric and English literature at Lake Forest university. Rudyard Kipling. the novelist. is repo ted to be dying of consumption. De has been removed from London to Italy. Members of the diplomatic corps at Washington are in Chicago gathering information in regard to the Columbian exposition. The Ill-Fated Number Thirteen. Chicago Herald. Leo Mandlebaum registered at the Richelieu, from Germany, yesterday and was assigned to room 13. He had been in the room but a few minutes when he came rushing into the office and asked for another room at once. "Think I'd sleep in room 13?" he explained. "I'd sleep in the park first. That ill-fated number was never SO dreaded in Germany as it is to day. In most of the hotels there it has been


Article from The Hot Springs Star, July 24, 1891

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Receiver of a Nebraska Bank. WASHINGTON, July 22.-The comptroller of the currency has appointed Henry C. Russell of Schuyler, Neb., receiver of the Central Nebraska National Bank of Broken Bow, Neb.


Article from Mineral Point Tribune, July 25, 1891

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Russell as Receiver. WASHINGTON, July 21.-The comptroller of the currency to-day appointed Herry C. Russell, of Schuyler, Neb., as receiver of the Central Nebraska National bank of Broken Bow, Neb.