13028. Citizens Bank (Firth, NE)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 19, 1907
Location
Firth, Nebraska (40.533, -96.606)

Metadata

Model
gpt-5-mini
Short Digest
cfb515ca

Response Measures

Full suspension, Books examined

Other: Cashier disappearance and apparent embezzlement; receiver appointed and dividends paid to depositors.

Description

Run began March 19, 1907 after depositors became alarmed at the prolonged absence/disappearance of cashier W. J. Crandall. Examiner/state banking board took charge and the bank was suspended/closed by the state as insolvent; a receiver was appointed March 28, 1907. OCR variations showed both Citizens bank and Citizens' State bank; treated as a state bank. Events supported by Omaha Daily Bee and other Nebraska papers.

Events (3)
1. March 19, 1907 Run
Cause
Bank Specific Adverse Info
Cause Details
Run triggered by alarm over prolonged absence/disappearance of cashier W. J. Crandall and indications he had been speculating/was indebted to the bank.
Measures
State Banking Board examiner sent and Secretary Royce took charge; examiner placed in charge to examine books.
Newspaper Excerpt
an examiner has been sent there to look over the bank's accounts. Mr. Royce acted upon a telephone message from Bookkeeper Auman that a run had been started on the institution. The run ... was due to the absence from the city of the cashier, W. J. Crandall
Source
newspapers
2. March 20, 1907 Suspension
Cause
Government Action
Cause Details
State banking examiner took charge and the institution was suspended/closed by the state after discovery of insolvency related to cashier's disappearance and alleged indebtedness to the bank.
Newspaper Excerpt
Cashier Crandall still missing. ... cashier of the suspended Citizens bank of Firth ... Examiner Mickey, who is in charge of the bank, is unable to say whether it is solvent.
Source
newspapers
3. March 28, 1907 Receivership
Newspaper Excerpt
Fred Whittemore of Lincoln, former state bank examiner, was Monday afternoon appointed receiver of the Citizens' Bank of Firth. The appointment was made by Judge Holmes ... The state board ... declares that on March 19, the bank was insolvent, and the person in charge ... was placed in charge ... Examiner E. S. Mickey ... placed in charge of the affairs of the bank ... when the conditions existing in the institution were discovered.
Source
newspapers

Newspaper Articles (23)
1. March 20, 1907 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, March 20, 1907

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Pago 1 NEBRASKA. Celebrated "Pound Pool" agreement introduced in testimony in the hearing of the alleged Lumber trust before Referee Post. Page 3 Frank Brink of Ponca on trial charged with killing his former sweetheart on evening before she was to have married Page 3 his successful rival. Eagle measuring eight feet four inches from tip to tip is shot in Merrick county. Page 3 Bank examiner takes charge of the Citizens bank of Firth, where run is started owing to citizens of place bePage 3 coming alarmed. DOMESTIC. President Mellen of Hartford railroad spends half hour at the White House. Mr. Roosevelt intimates that he may make statement regarding needed railroad legislation, but in the meantime no inferences as to his attitude must be drawn from informal conversations. Page 1 Twelve hundred men strike at the East Chicago mills of the Republic Iron and Steel company. Boilermakers on Harriman lines may strike, but Omaha will Page 3 probably not be affected. Hill and Harriman stocks greatest sufferers in decline of prices on Wall street. Page 2 g Thaw trial proceeds with Attorney Jer rome cross-examining experts for the de1 , fense who say Thaw was insane when he e shot White. Page 1 / Levee in Feather river breaks and high water causes floods in northern California S Page 1 e FOREIGN. Premier Stolypin of Russia outlines government plan for reform legislation, it n including freedom of press, speech and rePage 8 ligion and habeas corpus. Salvador sends troops to Honduras to T co-operate with Bonella against Nicaragua. Page 1 1. A new election bill is proposed in C. n France which will give proportional rep. 1resentation and permit one candidate to receive as many votes as there are depuA. r ties to be elected from each district. Page 4 of LOCAL. to ; General managers of western railroads will meet next week in Chicago to seek n a settlement of the threatened strike of y k their trainmen. Arbitration is favored. Page 7 S. E. Howell, president of the Omaha be Coal exchange, will be committed to cusi. n. tody of the sheriff Wednesday by Judge Sutton and may spend an hour or two in to jail, but his attorney has all plans made e for a supersedeas bond from supreme of court. Page 7 Tom Lee, city sewer inspector, is killed in railroad yards by freight cars near SPage 7 Eighth and Jones streets. D. Judge Sears commits case of Attorney of F. W. Fitch to the county attorney, who ed will file charges to bring matter to proper head. Page 7 V. Councilman Elsasser advocates ordi. h nance requiring that all wooden Indian signs around the city be painted. y Page 12 of First convention of the northwest dlvision of the Board of Home Missions and it Church Extension of the Methodist EpisW copal church closes after two days of inus spiring work, which was participated in ed by dignitaries of several states. Page 1 he SPORT. of St. Paul and Cincinnati are making hard in he fight for next session of American Bowlng ing Congress. Good scores made in the Page 4 two-men team class. we

2. March 20, 1907 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, March 20, 1907

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EXAMINER TAKES CHARGE OF BANK Absence of Cashier Starts Run on Institution. (From a Staff Correspondent.) LINCOLN, Neb., March 19.-(Special Telegram.)-Secretary Royce of the State Banking board has taken charge of the Citizen's Bank at Firth, this county, and an examiner has been sent there to look over the bank's accounts. Mr. Royce acted upon a telephone message from Bookkeeper Auman that a run had been started on the institution. The run, it is said, was due to the absence from the city of the cashier, W. J. Crandall, who had been gone longer than some of the citizens thought he should be. S. Tilton, president of the bank, has been out of the state for many months attending to business interests elsewhere. The last statement of the bank filed in February showed loans amounting to $50,000, due from other banks and cash in sight, $55,000; deposits $102,000 and capital stock $10,000. The banking board had looked up the amount of money due from other banks and found the items correct. Nothing has been heard from the examiner regarding the condition of the bank at this time.

3. March 21, 1907 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, March 21, 1907

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CASHIER CRANDALL STILL MISSING Has Not Been in Town Where He Said He Was Going. LINCOLN, March 20.-William J. Crandall, cashier of the suspended Citizens bank of Firth, who left that town last Thursday, has not been located. Advices this evening from the Illinois town to which Crandall said he was going say he has not been there. Mrs. Crandall is at the home of relatives in Lincoln and is nearly prostrated. Examiner Mickey, who is in charge of the bank, is unable to say whether it is solvent. A hasty examination of the books indicates that Crandall is indebted to the bank, but the amount cannot be told accurately. Crandall had other interests in the town, and these are declared to be badly involved.

4. March 22, 1907 The Norfolk Weekly News-Journal Norfolk, NE
Article from The Norfolk Weekly News-Journal, March 22, 1907

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CASHIER CRANDALL NOT LOCATED Affairs of Missing Firth Banker Said to Be Badly Involved. Lincoln, March 21.-William J Crandall, cashier of the suspended Citizens' bank of Firth, who left that town last Thursday, has not been located. Advices from the Illinois town of which Crandall said he was going say he has not been there. Mrs. Crandall is at the home of relatives in Lincoln and is nearly prostrated. Examiner Mickey, who is in charge of the bank, is unable to say whether it is solvent. Hasty examination of the books indicates that Crandall is indebted to the bank, but the amount cannot be told accurately. Crandall had other interests in the town, and these are declared to be badly involved.

5. March 28, 1907 The Independent Lincoln, NE
Article from The Independent, March 28, 1907

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Fred Whittemore of Lincoln, former state bank examiner, was Monday afternoon appointed receiver of the Citizens' Bank of Firth. The appointment was made by Judge Holmes of the district court on application of the state examining board through Attorney General Thompson. With the application of the board for the appointment of a receiver. was filed the repor: of Examiner E. S. Mickey, who was placed in charge of the affairs of the bank as soon as the conditions existine in the institution were discovered. The state board, in applying for the appointment of a receiver, relates the history of the bank's troubles so far as It came into contact with them. It declares that on March 19, the bank was insolvent, and the person in charge

6. March 29, 1907 The Red Cloud Chief Red Cloud, NE
Article from The Red Cloud Chief, March 29, 1907

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CRANDALL NOT LOCATED Affairs of Missing Firth Banker Said to Be Badly Involved. Lincoln, March . 21.-William J. Crandall, cashier of the suspended Citizens' bank of Firth, who left that town last Thursday, has not been located. Advices from the Illinois town of which Crandall said he was going say he has not been there. Mrs. Crandall' is at the home of relatives in Lincoln and is nearly prostrated. Examiner Mickey, who is in charge of the bank, is unable to say whether it is solvent. Hasty examination of the books indicates that Crandall-is indebted to the bank, but the amount cannot be told accurately. Crandall had other interests in the town, and these are declared to be badly involved.

7. March 31, 1907 The Cairo Bulletin Cairo, IL
Article from The Cairo Bulletin, March 31, 1907

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ATTACHES CASHIER'S PROPERTY Lincoln, Neb., March 30.-Acting on an attachment secured by Receiver Whittemore of the suspended Citizen's bank of Firth, Sheriff Ress today levied on $65,000 worth of prop ery of missing Cashier Crandall There has been no trace of Crandall since his disappearance ten days ago,

8. April 5, 1907 The Red Cloud Chief Red Cloud, NE
Article from The Red Cloud Chief, April 5, 1907

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NEWS OF NEBRASKA. Sheriff Levies on Crandall Property. Lincoln, March 30.-Acting on an attachment secured by Receiver Whittemore of the suspended Citizens' bank of Firth, Sheriff Ress levied on $65,000 worth of property of the missing cashier, W. J. Crandall. There has been no trace of Crandall since his disappearance, ten days ago. He was regarded as the wealthiest man of the town, owning such property, all of which is said to be heavily involved. His mill and elevator have been shut down.

9. May 2, 1907 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, May 2, 1907

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because It has been urged more attention will be paid to working up thorough schools by outsiders than to increasing the price of real estate, as local members of the board are liable to do. Capital Briefs. Governor Sheldon was visited today by Representatives Armstrong of Nemaha, Harrison of Otoe, and former Representative Robert Howe of Nemaha and by Senator Gould of Greeley. Dr. Taylor of Auburn was a caller late this afternoon. The report of the Santa Fe Railroad company filed with the State Board of Assessors today, shows that road to have collected during the year the sum of $50,590,548.66 as its gross earnings. Its net earnings amounted to $17,982,002.24. While this road operates a total of 9,830.15 miles only 1.96 miles are located in Nebraska. Secretary of State Junkin received a message this morning that C. S. Rolph of Smithfield had died last night of pneumonia, after an illness of only a few days. Mr. Rolph was cashier of the bank at Smithfield and had been a lifetime friend of the secretary of state. Mr. Junkin will endeavor to attend the funeral. Insurance Deputy Pierce has notified insurance agents not to solicit any business for the Head-Schurch company of Minneapolis, insurers of threshing machines, because that company has no right to do business in this state. The penalty for soliciting insurance for a company which has no license to operate in Nebraska, is à fine of from $50 to $100. Ed Lawrence, bond clerk in the office of Auditor Searle, who was marked some time ago by Father Time, but who took the bit in his teeth, jerked the scythe away from the old man and cut his way back to health and happiness, returned to work this morning after an absence of several months, feeling as strong and healthy as a new spring onion. During his illness Mr. Lawrence experimented in the use of various hair tonics, with the result that the heretofore billiard ball appearance of his pate, has been wonderfully changed, nine little curly fellows having broken through the crust. New Deputy Federal Marshal. United States Marshal Warner while in Lincoln today announced the appointment of C. P. Hensel of Hebron as deputy marshal, with headquarters at Lincoln. Mr. Hensel was formerly sheriff of Thayer county. After Alleged Grafters. It is understood the grand jury is going after those persons who file complaints against the granting of a liquor license and then withdraw the same upon the payment of a certain sum of money by the applicant. It is rumored that if this matter is gone into very deeply a prominent anti-saloon worker or two will be involved, as well as a few attorneys. Brian Returns from Idaho. State Treasurer Brian has returned to Lincoln after his trip to Idaho, where he picked up some Idaho state bonds for Nebraska investments without paying a cent to a middleman. The bonds will pay the state 4 per cent. Permit to Lower Rates. Permission was granted by the Nebraska Railway commission today to the Rock Island to establish short line rates in this state, subject to the usual rule that intermediate points be given the same or better rates. This is the third road to get such a permit, the Northwestern and the Missouri Pacific having applied previously. Dividend on Failed Bank. Receiver Whittemore of the failed Citizens' bank of Firth made a report today announcing that a dividend of 70 per cent to depositors is available. There is cash on hand of $74,074. The receiver believes an additional 5 per cent dividend will be possible when he is able to realize on the property of W. J. Crandall, the cashier, whose disappearance caused the closing of the bank.

10. May 3, 1907 The Norfolk Weekly News-Journal Norfolk, NE
Article from The Norfolk Weekly News-Journal, May 3, 1907

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Dividend for Firth Bank Depositors Lincoln, May 2.-Receiver Whitte more of the failed Citizens' bank of Firth made a repot, announcing that a dividend of 70 per cent to depositors is available. There is cash on hand of $74,074. The receiver believes an additional 5 per cent dividend will be possible when he is able to realize on the property of W. J. Crandall, the cashier, whose disappearance caused the closing of the bank.

11. May 16, 1907 Valentine Democrat Valentine, NE
Article from Valentine Democrat, May 16, 1907

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Dividend on Failed Bank. Receiver Whittemore of the failed Citizens' bank, of Firth, made a report announcing that a dividend of 70 per cent to depositors is available. There is cash on hand of $74,074. The receiver believes an additional 5 per cent dividend will be possible when he is able to realize on the property of W. J. Crandall, the cashier, whose disappearance caused the closIng of the bank.

12. January 2, 1908 Audubon Republican Audubon, IA
Article from Audubon Republican, January 2, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 4-First National bank of Scotland, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, : Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroller of currency. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Rece vers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 15-First National bank of Dresden, O., failed. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18 -Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 77-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro, Mass, in hands of receiver.

13. January 2, 1908 River Falls Journal River Falls, WI
Article from River Falls Journal, January 2, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 4-First National bank of Scotland, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroller of currency 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 15-First National bank of Dresden, O., failed. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. 1., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 20-California Safe Deposit & Trust Co. bank, at San Francisco, closed. Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed. United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18--Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver Dec. 2-Chelsea Savings abnk of Chelsea. Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro. Mass. in hands of receiver

14. January 2, 1908 The Nevada County Picayune Prescott, AR
Article from The Nevada County Picayune, January 2, 1908

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Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. LF. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. %-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situa19-Citizens' tion. State bank of Firth, Neb., closed by state. 18-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens bank of Eureka Springs, Ark., suspended. -Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug 3-People's State bank of Brownstown, Ind., closed by state authorities. It-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank. of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 13-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 4-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 5-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 6-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. -Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 2-Merchants' National bank of Portland, Ore,, California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 8-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 7-American Silk Co. capital stock, $11,000,000, which operated mills in several cities. placed in hands of receiver. Dec. 2 Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier. closed. -National Bank of Commerce, one of largest

15. January 3, 1908 The Forrest City Times Forrest City, AR
Article from The Forrest City Times, January 3, 1908

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FINANCIAL Jan Merchants' and Farmers' bank of Fairmont, Minn. suspended. Feb.2-F D. Gilman, former president suspended Home bank of Goodland, Ind. found guilty of embezzlement. LF D. Gilman, Indiana banker sentanced to term of one to three years in state prison. Disappearance of $ 3,000 from subtreasury at Chicago made public. Mar. 14 Virtual panic in Wall street; Secretary Cortelyou relieved the situation Citizens State bank of Firth, Neb., closed by state Corbin Banking company of New York, assigned assets, $3,000,000; Habillties, $1,700,000. pr. -Maj H. W. Salmon of Warsaw. Mo. convicted of illegal banking, sentenced three years in penitentlary 11-Bank of Conception, at Clyde, Mo., ordered closed 10-Ex-Judge Smith of Chicago, found utity of conspiring to defraud stock holders and depositors of Bank of America, of which he was president; Denalty imprisonment and $1,000 fine Citizens' bank of Eureka Springs, Ark. suspended -Fort Dallas National bank of Miami, Fla. closed. -Farmers' National bank of Boyertown. Pa. ordered closed. Aug. 1-People's State bank of Brownstown, Ind. closed by state authorities. Receivers appointed for Pope Mfg Co., of Hartford, Conn. failure ascribed to stringency of money market ep. 5-5 Watson & Co. members of New York stock and produce exchanges and of Chicago board of trade failed. Oct. -Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutiona closed doors &-Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange New York clearing house committee declared that the Heinze Morse and Thomas interests had been eliminated from banking organizations of New York -Krickerbocker Trust Co. New York's second largest financial institution, forced to suspend great slump in securities: call money at 70 per cent. Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed 84 Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala. filed involuntary petition in bankruptcy -8ix more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. -Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. -California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. T-Three small banks in Kansas closed United States Steel corporation secured controlling Interest in Tennessee Coal & Iron Co. Receiver appointed for Arnold Print works of North Adams, Mass. one of largest textile concerns In country 22-Merchants' National bank of Portland, Ore California bank of Oakland, Cal. and Farmers' & Merchants' bank of Sapulpa, I T. suspended 22 Secretary of Treasury Cortelyou or dered issue of $ 50,000,000 of Panama bonds and $100,000.00 certificates of indebtedness as means relieving financial situation City National bank of Frederick, Okla., falled -American Silk Co capital stock $11. 000,000, which operated mills in several cities placed In hands of receiver Dec. 2 Chelsea Savings abnk of Chelsea. Mich owned by State Treasurer Glazler, closed. 5 National Bank of Commerce, one of largest financial Institutions of Kansas City, suspended -Fort Pitt National bank of Pittsburg, closed 17-Jewelers' National bank at North Attleboro, Mass., In hands of receiver

16. January 4, 1908 The Huttig News Huttig, AR
Article from The Huttig News, January 4, 1908

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3an. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Teb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. -F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. B-Citizens' State bank of Firth, Neb., closed by state. 88-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. XI-Bank of Conception, at Clyde, Mo., ordered closed. 9-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 08-Fort Dallas National bank of Miami, Fla., closed. 80-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 9-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 12-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 33-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 04-Three minor banks in New York rforced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 3-Six more minor banking institutions Voniin Ne

17. January 8, 1908 Barbour County Index Medicine Lodge, KS
Article from Barbour County Index, January 8, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, Imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 4-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Coliapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and "Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close. Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors. Union Trust Co., of Providence, R. 1., sus(pended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. California Safe Deposit & Trust Co. bank, at San Francisco, closed. Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed. United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. $-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation. City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11.000,000. which operated mills in several cities. placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. -National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro, Mass., in hands of receiver.

18. January 9, 1908 The Spanish Fork Press Spanish Fork, UT
Article from The Spanish Fork Press, January 9, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. 8-F. D. Gilman, Indiana banker. sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street: Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. M-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private Institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities: call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks. Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. M-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors. Union Trust Co., of Providence, R. I., suspended. Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. $0-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling Interest in Tennessee Coal & Iron Co. -Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal. and Farmers' & Merchants' bank of Bapulpa, I.T., suspended. as Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 17-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. -National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. Fort Pitt National bank of Pittsburg, closed. l7-Jewelers' National bank at North Attleboro, Mass., in hands of receiver.

19. January 9, 1908 The Mena Weekly Star Mena, AR
Article from The Mena Weekly Star, January 9, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. -F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. -Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities: call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary Detition in bankruptcy 25 Six more minor banking Institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 36-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. e-Receiver appointed for Arnold Print works of North Adams, Mass. one of largest textile concerns in country. 12-Merchants National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., 18- of Treasury dered Secretary suspended. Cortelyou orissue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving finanetal situation City National bank of Frederick, Okla. failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2 Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg. closed. 17-Jewelers National bank at North Attleboro, Mass., in hands of receiver.

20. January 9, 1908 Custer County Republican Broken Bow, NE
Article from Custer County Republican, January 9, 1908

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# NEBRASKA IN BRIEF NEWS NOTES OF INTEREST FROM VARIOUS SECTIONS. # ALL SUBJECTS TOUCHED UPON Religious, Sccial, Agricultural, Polit- ical and Other Matters Given Due Consideration. Seward merchants report a very prosperous year. Mr. and Mrs. David H. Lyttle of Hastings celebrated their golden wed- ding. The Missouri Pacific in Otoe county has not paid its personal tax for last year, amounting to over $14,000. The barn of Charles Confer at Be- atrice was destroyed by fire, entailing a loss of $300. Probably incendiary. In a statement filed in the district court at Lincoln Fred Whittemore receiver of the Citizen's bank of Firth, asserts that the depositors have re- ceived 70 cents on the dollar. The Sarpy County Agricultural so- ciety will hold its annual farmers' in- stitute at the opera house in Papillion February 11-12. The women have been given one day on the program. Ed Cramer, a young man of 21 years, who came to York from Grand Island, and who had been working at the Le Grand hotel, attempted to com- mit suicide by taking carbolic acia. John Fredericks of Wisner was ar- rested and brought to West Point on a charge of insanity. He was ad- Judged to be a fit subject for treat- ment and was taken to the hospital at Norfolk. Governor Sheldon has honored the requisition of the governor of Illinois for the return of "Bud" Brooks, who is wanted on a charge of burglary. Brooks was out on parole and vio- lated his parole. The city fathers of Nebraska City have become ashamed of the city jail and have ordered all of the old con- tents removed and burned and after the jail, has been overhauled, painted, will refit the same. By a popular subscription taken up among the Bohemians of the state, $500 has been raised for the use of the state circulating library. The money will be used to buy books re- lating to Bohemian history. The swine plague is devastating many herds of hogs in York county. Already many farmars have lost nearly every hog and those who have not lost by cholera are selling off and say they will not commence again. The State Railway commission signed its order in the oil rate case and formally promulgated the 30 per cent reduction, together with a or- der that the railroads return empty barrels at half the rate now charged. The Dempster Mill Manufacturing company, Beatrice, observed Christ- mas by presenting every employe with a fine Christmas turkey. The com- pany also made the semi-annual divi dent to employes, which amounted to $2,116. The appointments of George L. Car- ter to the position of chief game war- den, W. J. O'Brien as superintendent of fisheries and E. Hunger as deputy game warden were announced by Gov- ernor Sheldon. Game Warden Carter has been in the department since his first appointment as deputy by Gover nor Dietrich. In Omaha while Dr. W. H. Latey was extracting teeth for Mrs. George Dierk of Bennington the woman died from the effects of less than half an ounce of chloroform, given by Dr. S. N. Hoyt, who ascribed acute spasm of the heart as the cause. Mrs. Dierk was to have twenty-six teeth extract- ed and desired to take chloroform. The great growth of York has kept the York Electric Light and Power company employes busy installing new service and at times they have been unable to wire the new houses and business blocks as fast as wanted. Owing to the great increase of busi- ness they have had to purchase a 200- horsepower engine and install a large new motor. Oney Nauel, the two-year-old child of Mr. and Mrs. A. N. Nauel of Ray- mond, met death in a strange and startling manner. While the mother was busy the child got some pop corn designed for the decoration of a Christmas tree. A grain lodge in the child's windpipe and despite the fran- tic efforts of the mother the little one died before medical ald could be sum- moned. As provided by section 8 of the terminal tax law the several couniy and city clerks shall prepare separate assessment rolls for the assessment of local railway property in the cities and villages. In order that the work may be uniform throughout the state George D. Bennett, secretary of the State Board of Assessment, has pre- pared blanks for the guidance of the clerks and will forward them at an early date, together with two copies of senate file 261, which is the ter- minal tax law. The Norton-Gregson packing com- pany has moved its headquarters from Chicago to Nebraska City and the of fices are in charge of R. W. Barnes and A. Girring, and all business will be done there in the future, all eastern offices having been closed. The Salvation army did a good

21. January 11, 1908 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, January 11, 1908

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Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. -F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 80-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. -National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed.

22. June 5, 1908 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, June 5, 1908

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number of policemen in the o case came up from Lancaster cour excise board refused to license salo Ing the government square. The court held the board had no right to and decided in favor of the saloo ers. The supreme court reversed cision and ordered a decree entered Ing the order of the excise board. Bequest Goes to Widows By reason of a decision of the court handed down today, the wid servants of fishermen in the king Norway will be permitted to pa in the division of a trust fund left by Nils O. Nilson of Boone coun died some time ago. Nilson's or tives were brothers and sisters. to two churches in Norway $6,000 a and two-thirds of the remainder estate to be kept in trust for the of the widows of fishermen and girls of his old home town. Truste churches were named as trustees money was to be loaned or real el curity and the first day of Dece each year the interest was to be among the needy women of his hor In his will Nilson said the prin dustry of his home town was fish there were many children and w fishermer who were in need. The attacked the will, but the court valid. Ruling on Assessments Attorney General Thompson too out an opinion relating to the as of mortgages and notes in an strengthen any assessors on the His circular letter and opiniors fol Dear Sir: I have been informed reason of a misunderstanding of cision of the supreme court in the Oleson against County of Cuming W. 783, some assessors have been all kinds of notes and mortgages set by debts of the owner of su and mortgages in the assessment property. To the end that there may be understanding of the holding of and that deductions of debts fron able credits be made only where authorized, I am enclosing you copy of an opinion of this depart this subject and request you, a attorney, to see that the Board of tion of your county takes such will insure the assessment of all n mortgages subject to taxation, and ductions on account of debts allowed in those cases where the court in the cases referred to that deductions may be lawfully n Your first inquiry is, Does the in the case of Oleson- against Co Cuming, filed March 9. hold that gages are subject to taxation if owes an indebtedness equal to t gages You are advised that the in his case is as follows: "A note and mortgage taken in for property is not money loaned vested' within the meaning of the S but is a 'credit, from which th may deduct the just debts by hi at the time of making his tax ret Your second inquiry is, Would practically place mortgages altoge of the power of the assessors and would not vast wealth thu taxation? In the case of County against McDonald, 103, N d the court held as follows: The statute distinguishes items of property to be scheduled ation. The other items named schedule are not to be conside credits. so as to allow indebtedne deducted therefrom. Notes and m which represent moneys loaned vested are not subject to such de The holding in the Oleson case in conflict with the decision in S Donald case, but in harmony e Under the facts in the Oleson court held that a note and mortga o in exchange of property did not n money loaned and invested. and d reason was a credit which migh set by bona fide debts. The he the court on this question up to is that notes and mortgages rep n moneys loaned and invested are ject to be offset by debts owin o taxpayer at the time of the as n In answer to the other question o mitted I have this only to say th an assessor has reason to belle p the condition of the records or of or petent evidence that a person is t a of notes and mortgages rep moneys loaned and invested he is right to assess the same against he son so believed to be the owner on When a person is thus assesse fact he is not the owner of st es and mortgages he has the right he before the County Board of Eq he and have such Items stricken fro schedule if he can satisfy the b b Id he was not the owner thereof er not he proper person to be therefor In the event that the is not sufficient to warrant the in placing property believed to ly by the taxpayer on his schedule erty assessed against him, he ha E to appear before the County Equalizaiton and disclose any fa would warrant an investigation tion thereto The county board ple jurisdiction and authority the person thus believed to be of property which has not been assessed against him to appear evidence in relation thereto and any other witnesses which it be furnish evidence bearing on the After a hearing has been had ordinarily can do full justice premises by assessing the pro such persons as may be subject ment therefor The same is to gard to bank deposits While sessor or his deputies, has 11m authority in compelling the pro books and the examination of of for the purpose of uncovering and ascertaining to whom the sa be assessed, the County Board ization. as before suggested. has an questioned authority and it is he to exercise It and make full and Ith inquiry by requiring the apper ble witnesses and the production of audocuments bearing on the subje re, end that all property subject to his may be listed and assessed to t uperson or persons. the Report on Nebraska Ba nd The annual report of Secretary the State Banking board, now in of the printers, will shortly be the public. Notwithstanding t panic the report shows the st to be in good sound condition one failure during the entire Citizen's bank of Firth. This fa of due to heavy speculation on the trade by the cashier. ity During the year there were he 689 banks and building and loan he to tions for which fees were collect sed amount to $12,440: forty-seven be ice chartered. for which fees were ce ng the amount of $1.175. he Mr. Royse condemns the own nd a chain of banks as follows: There is one practice that exist extent in this state which, in m sooner or later will have to be or serious trouble will follow-

23. June 10, 1908 The Columbus Journal Columbus, NE
Article from The Columbus Journal, June 10, 1908

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Report on Nebraska Banks. Te annual report of Secretary Rcyse of the State Banking board, now in the hands of the printers, will shortly be issued to the public. Notwithstanding the recent panic the report shows the state banks to be in good sound condition and only one failure during the entire year, the Citizen's bank of Firth. This failure was due to heavy speculation on the board of trade by the cashier. During the year there were examined 689 banks and building and loan associations for which fees were collected to the amount of $12,440; forty-seven banks were chartered, for which fees were collected to the amount of $1,175. Mr. Royse condemns the ownership of a chain of banks as follows: "There is one practice that exists to some extent in this state which, in my opinion, sooner or later will have to be remedied or serious trouble will follow-I refer to a chain of small banks owned, operated and controlled by the same management, or used as feeders for some larger bank. This is a practice that will require more than ordinary skill to avoid disaster sooner or later. I am firm in the conviction that some legislation is necessary to enable the State Banking Board to meet this practice, when in their opinion the interest of the depositors demands it."