13206. Merchants Bank (Lincoln, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1897*
Location
Lincoln, Nebraska (40.800, -96.667)

Metadata

Model
gpt-5-mini
Short Digest
46239f7c

Response Measures

None

Description

Newspaper items (Jun–Jul 1897) report the Merchants' Bank of Lincoln closed its doors and suspended a month ago, and a receiver (S. A. D. Shilling) was appointed June 29, 1897. No article describes a depositor run; reporting indicates insolvency and disagreement among stockholders leading to receivership. Bank type not specified in articles.

Events (3)
1. June 1, 1897* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors with reported liabilities of $50,000 indicating insolvency; articles state the bank suspended a month ago.
Newspaper Excerpt
The Merchants' bank at Lincoln, Neb., closed its doors with liabilities of $50,000.
Source
newspapers
2. June 29, 1897 Receivership
Newspaper Excerpt
District Judge Holmes has appointed S. A. D. Shilling receiver for the failed Merchants' bank. The bank suspended a month ago and it was thought at that time a receiver would not be necessary, but the stockholders have disagreed.
Source
newspapers
3. October 9, 1897 Other
Newspaper Excerpt
S. A. D. Shilling, receiver for the failed Merchants' bank, has filed a supplemental report... he has reason to believe that certain assets were improperly disposed of prior to the suspension of the bank; he has asked for explanations from Crawford, the former cashier, and has not received them.
Source
newspapers

Newspaper Articles (7)
1. June 9, 1897 The Ely Miner Ely, MN
Article from The Ely Miner, June 9, 1897

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Article Text

# DOMESTIC. George Repshire and his son Herbert, aged 43 and 15 respectively, were drowned at Shady Bend, Kan., in the Saline river. While driving from Primghar, Ia., to his farm between Sibley and Ocheydan F. D. Frey, an aged man, was frozen to death. Constatine Kerr and Corporal Hockin, of the mounted police, and Ernest Grundy, postmaster of Duck Lake, Man., were shot dead near that place by Indians. A tally-ho, with a party of 21 persons from the Greene Avenue Baptist church, Brooklyn, N. Y., was struck by a train at Valley Stream and five of the young people were killed. The Hubbard Milling company at Mankato, Minn., failed for $500,000. Maria and Frances Butler, unmarried sisters about 50 years of age, committed suicide at their home in Lowell, Mass., because of financial losses. Miss Mildred Brewster, 18 years old, shot Miss Annie Wheeler, also 18 years of age, at Montpelier, Vt., and then sent a bullet into her own brain. Jealousy was the cause. Snow fell at Oshkosh and other portions of Wisconsin and in some places in Minnesota. The percentages of the baseball clubs in the National league for the week ended on the 31st ult. were: Baltimore, .742; Cincinnati, .676; Pittsburgh, .672; Boston, .600; Cleveland, .567; New York, .519; Louisville, .500; Philadelphia, .485; Brooklyn, .484; Chicago, .333; Washington, .300; St. Louis, .188. The visible supply of grain in the United States on the 1st was: Wheat, 29,889,000 bushels; corn, 12,217,000 bushels; oats, 8, 969,000 bushels; rye, 2,621,000 bushels; barley, 1,414,000 bushels. The government receipts during May were $29,797,390 and the disbursements were $29,109,259, leaving the surplus for the month $688,131. The deficit for the 11 months of the present fiscal year amounts to $32,273,121. The public debt statement issued on the 1st shows that the debt decreased $1,560,080 during the month of May. The cash balance in the treasury was $867,496,826. The total debt, less the cash balance in the treasury, amounts to $996,684,052. Samuel A. Jervis, a switchman, 44 years old, stabbed to death Mrs. Bertha Johnson, aged 30 years, at New Orleans, and then killed himself. Jealousy was the cause. James Roberts and his wife and three children were killed by an engine at a railway crossing near Alma, Ill. The Merchants' bank at Lincoln, Neb., closed its doors with liabilities of $50,000. Griswold & Gillet, bankers and brokers in New York, have made an assignment with liabilities of $200,000. Five children were burned to death in the residence of J. H. White, two miles from Keystone, W. Va., during the absence of their parents. A railway engine blew up near Christiansburg, W. Va., killing Joe Waskie, engineer, Jim Gillespie, fireman, and Flagman William Byrne. The reports as to the condition of the crops throughout the country show that cold weather has caused slow growth. Thomas B. Reed, speaker of the house, received a letter warning him that unless certain specified legislation was promptly expedited he would be assassinated. Mr. Preston, the director of the mint, says the production of gold in 1896 was $53,000,000, an increase of over $6,250,000 as compared with 1895. The production of silver was 57,700,000 fine ounces, an increase of 1,900,000 ounces over 1895. Six persons were fatally burned and a seventh trampled to death during a fire panic in a circus at Lynn, Mass.

2. July 1, 1897 River Falls Journal River Falls, WI
Article from River Falls Journal, July 1, 1897

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Article Text

Receiver Appointed. Lincoln, Neb., June 29. - District Judge Holmes has appointed S. A. D. Shilling receiver for the failed Merchants' bank. The bank suspended a month ago and it was thought at that time a receiver would not be necessary, but the stockholders have disagreed.

3. July 3, 1897 The Washburn Leader Washburn, ND
Article from The Washburn Leader, July 3, 1897

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Article Text

NEWS IN BRIEF. Overflow From the Wires in a Condensed Form. Walter H. Lansit, cattle painter, is dead at Boston. E. A. Arnold, an attorney of West Superior, was thrown from a buggy and received painful injuries internally and about the groin. Mrs. Alexander Campbell, widow of the late Bishop Campbell, founder of the Christian M. E. church, is dead at Bethany, W. Va., aged eighty-five. Rev. W. C. Daily, the founder of the Northern branch of the Methodist Episcopal church in the South is dead at Knoxville. He was seventy-eight years of age. Col. F. B. Mussey, the well known Washington correspondent, is dead at Middlebury, Vt., of Bright's disease. He was fifty-one years of age and had been ill for some time. The Western Writers' association held a reception at the Winona hotel at Eagle Lake, Ind. James Whitcomb Riley, John Clarke Ridpath, Eugene Ware and others took part. The directors of the Pittsburg. Fort Wayne & Chicago Railroad company met in New York and organized by re-electing Charles Lanier president, and John J. Haley secretary and treasurer. Senator Davis has reported from the committee on foreign relations an an amendment to the general deficiency bill to pay $6,000 to the families of the three Italians lynched at New Orleans. Rev. D. F. McGill, D. D., pastor of the Sixth United Presbyterian church, Allegheny, Pa., who was recently elected president of Monmouth college at Monmouth, Ill., has decided to decline the call. At Lincoln, Neb., District Judge Holmes appointed S. A. D. Shilling receiver for the failed Merchants' bank. The bank suspended a month ago and it was thought at that time a receiver would not be necessary, but the stockholders have disagreed. James Smith, a colored lad of fourteen, is in jail at Annapolis, charged with an attempt to wreck the Bay Ridge excursion train from Washington. Smith was seen to place a railroad tie on the track about a mile and a half from Annapolis, Md.

4. July 6, 1897 The River Falls Times River Falls, WI
Article from The River Falls Times, July 6, 1897

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Article Text

Otherwise. The tobacco directors have declared 2 per cent dividends on the preferred and 2 per cent on the common stock. The managers of the Newberry Mich., state prison have let contracts for additions to Lysette & Gray of Sault for $31,868. Fred Peffer has been released from the Chicago ball club. He has not played for some time and the club does not need him any more. Maj. A. J. C. Wrench, of the Royal Welsh Fusileers, was married at the Scotch church, at London, to Miss Alys Theodora Briggs of Cincinnati. Col. F. B. Mussey, the well known Washington correspondent, is dead at Middlebury, Vt., of Bright's disease He was fifty-one years of age and had been ill for some time. Emile D. Nustadt, senior member o Nunstadt & Co., formerly one of the most important flour commission hous es on the New York Produce exchange died suddenly, aged fifty years. The Western Writers' association held a reception at the Winona hotel at Eagle Lake, Ind. James Whitcomb Riley, John Clarke Ridpath, Eugene Ware and others took part. The directors of the Pittsburg, Fort Wayne & Chicago Railroad company met in New York and organized by re-electing Charles Lanier president, and John J. Haley secretary and treasurer. The Pulitzer Publishing company has resumed the management of the St Louis Post-Dispatch, Col. Charles H Jones having resigned as editor and manager and severed all connections with the paper. At Lincoln, Neb., District Judge Holmes appointed S. A. D. Shilling receiver for the failed Merchants' bank. The bank suspended a month ago and it was thought at that time a receiver would not be necessary, but the stockholders have disagreed. Peter Maher was married at St. Thomas' church, Philadelphia, to Miss Agnes Torpety. After the marriage the couple left for New York, where they will take the steamer Lucania for an extended European tour. J. A. Jordan of Hannibal, Mo., was made general manager of the Consolidated Green Bay & Western and Kewaunee, Green Bay & Western railroads to succeed S. W. Campion, whose resignation has been accepted. Actors and actresses, playwrights and theatrical managers attended the funeral of William F. Hoey, "Old Hoss," which was held at his late res idence at New York. The casket was almost buried from view with floral tributes. The suspension of Harvey B. Rich 1/8 ex& Co. was announced on change, New York. Mr. Rich has been a member of the exchange since 1865, It is said at the office of the firm that the liabilities are small; that there are no open contracts and that they hope to be able to resume business in a few days. Detectives raided the stock broker age offices of Gerlick & Co., on the twelfth floor of 30 Broad street, New York, and made eight arrests. T. J. Gerlick, the leading member of the firm, was among those captured. In the police court he and his companions were charged with unlawfully gambling in stocks. All the plate mill employes of the Mahoning Valley Iron company and of Coleman, Shields & Co., at Youngstown, Ohio, were discharged to-day because they had refused to make certain concessions asked by the firms under the amalgamated scale. The men

5. July 8, 1897 The Princeton Union Princeton, MN
Article from The Princeton Union, July 8, 1897

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Article Text

Otherwise. The tobacco directors have declared 2 per cent dividends on the preferred and 2 per cent on the common stock. The official welcome of Cincinnat and its commercial bodies was extend ed to the pan-American tourists. The managers of the Newberry Mich., state prison have let contracts for additions to Lysette & Gray Sault for $31,868. Maj. A. J. C. Wrench, of the Roya Welsh Fusileers, was married at Scotch church. at London, to Alys Theodora Briggs of Cincinnati. Col. F. B. Mussey, the well known Washington correspondent, is dead Middlebury. Vt., of Bright's disease He was fifty-one years of age and been ill for some time. Emile D. Nustadt, senior member Nunstadt & Co., formerly one of most important flour commission es on the New York Produce exchange died suddenly, aged fifty years. The Western Writers' association held a reception at the Winona hotel Eagle Lake, Ind. James Whitcoml Riley, John Clarke Ridpath, Eugen Ware and others took part. The directors of the Pittsburg. For Wayne & Chicago Railroad company met in New York and organized re-electing Charles Lanier president and John J. Haley secretary and treas ".10.111 The Pulitzer Publishing company resumed the management of the Louis Post-Dispatch. Col. Charles Jones having resigned as editor manager and severed all connection with the paper. At Lincoln, Neb., District Judge Holmes appointed S. A. D. Shilling ceiver for the failed Merchants' The bank suspended a month ago it was thought at that time a receive would not be necessary, but the stock holders have disagreed. Peter Maher was married at Thomas' church, Philadelphia, to Agnes Torpety. After the marriag the couple left for New York, wher they will take the steamer Lucanis for an extended European tour. J. A. Jordan of Hannibal, Mo., made general manager of the Consoli dated Green Bay & Western and waunee, Green Bay & Western roads to succeed S. W. Campior whose resignation has been accepted. Actors and actresses, playwright and theatrical managers attended funeral of William F. Hoey, Hoss," which was held at his late idence at New York. The casket almost buried from view with tributes. The suspension of Harvey B. & Co. was announced on the stock change, New York. Mr. Rich has bee a member of the exchange since It is said at the office of the firm tha the liabilities are small; that there no open contracts and that they to be able to resume business in a days. Detectives raided the stock broker age offices of Gerlick & Co., on twelfth floor of 30 Broad street, York, and made eight arrests. T.

6. July 15, 1897 Courier Democrat Langdon, ND
Article from Courier Democrat, July 15, 1897

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Otherwise. The tobacco directors have declared 2 per cent dividends on the preferred and 2 per cent on the common stock. The official welcome of Cincinnati and its commercial bodies was extended to the pan-American tourists. The managers of the Newberry, Mich., state prison have let contracts for additions to Lysette & Gray of Sault for $31,868. Maj. A. J. C. Wrench, of the Royal Welsh Fusileers, was married at the Scotch church, at London, to Miss Alys Theodora Briggs of Cincinnati. Col. F. B. Mussey, the well known Washington correspondent, is dead at Middlebury, Vt., of Bright's disease. He was fifty-one years of age and had been ill for some time. Emile D. Nustadt, senior member of Nunstadt & Co., formerly one of the most important flour commission houses on the New York Produce exchange, died suddenly, aged fifty years. The Western Writers' association held a reception at the Winona hotel at Eagle Lake, Ind. James Whitcomb Riley, John Clarke Ridpath, Eugene Ware and others took part. The directors of the Pittsburg, Fort Wayne & Chicago Railroad company met in New York and organized by re-electing Charles Lanier president, and John J. Haley secretary and treasurer. The Pulitzer Publishing company has resumed the management of the St. Louis Post-Dispatch, Col. Charles H. Jones having resigned as editor and manager and severed all connections with the paper. At Lincoln, Neb., District Judge Holmes appointed S. A. D. Shilling receiver for the failed Merchants' bank. The bank suspended a month ago and it was thought at that time a receiver would not be necessary, but the stockholders have disagreed. Peter Maher was married at St. Thomas' church, Philadelphia, to Miss Agnes Torpety. After the marriage the couple left for New York, where they will take the steamer Lucania for an extended European tour. J. A. Jordan of Hannibal, Mo., was made general manager of the Consolidated Green Bay & Western and Kewaunee, Green Bay & Western railroads to succeed S. W. Campion, whose resignation has been accepted. Actors and actresses, playwrights and theatrical managers attended the funeral of William F. Hoey, "Old Hoss," which was held at his late residence at New York. The casket was almost buried from view with floral tributes. The suspension of Harvey B. Rich & Co. was announced on the stock exchange, New York. Mr. Rich has been a member of the exchange since 1865. It is said at the office of the firm that the liabilities are small; that there are no open contracts and that they hope to be able to resume business in a few days. Detectives raided the stock brokerage offices of Gerlick & Co., on the twelfth floor of 30 Broad street, New York, and made eight arrests. T. J. Gerlick, the leading member of the firm, was among those captured. In the police court he and his companions were charged with unlawfully gainbling in stocks. The will of Dr. John P. Atwater was filed in the surrogate court at Poughkeepsie, N. Y. The estate is valued at a million dollars, mostly real estate in Chicago. Yale college is to get a lot of land in New Haven valued at $25,000. The remainder of the property goes to the two children. A report from Anderson, Ind.. says: All tin plate works in the gas belt, particularly Elwood, Atlanta, Gas City and Montpelier, have closed in all the departments governed by the wage scale. All skilled labor in the Union Window Glass factories was suspended pending a readjustment of the wage scale. The Clan-Na-Gael guards of Chicago have decided to test the new state law against uniformed and armed independent societies. Major James J. Reilly and his men will turn out on July 22 to participate in the reiling of the Logan statue. A member of another independent inilitary company will swear out warrants against them.

7. October 10, 1897 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, October 10, 1897

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Article Text

CASHIER ORDERED INTO COURT. Discrepancies in Books of the Failed Merchants' Bank of Lincoln. LINCOLN, Oct. 9.-(Special Telegram.)S. A. D. Shilling. receiver for the failed Merchants' bank, has filed a supplemental report in district court in regard to the affairs of the bank. He states that since filing his second report he has been in correspondence with several persons who claim to hold assets as collateral security on money loaned the bank; that he has been unable to find anything about it on the books. He says that the list he has obtained and the one that the bank's books show are not alike, there being a discrepancy in the books of the bank. He further states that he has reason to believe that certain assets were improperly disposed of prior to the suspension of the bank; that he has asked for explanations from Crawford, the former cashier, and has not received them. Therefore, he prays the court to cite C. M. Crawford to appear and answer the questions which he deems most necessary to the settlement of the affairs of the bank. The order prayed for was issued and Crawford is cited to appear October 13. The district judges of this district have revoked the order recently made adjourning court until after election and court is now ordered to convene Monday and continue all the week. This is done on account of the rapid accumulation of business. Senator F. Q. Feltz of Keith county has filed two complaints before the State Board of Transportation: one against the express companies doing business in the state, and the other against telegraph companies. In each he claims that the companies are charging and receiving extortionate rates and that the business is such that an unreasonably large and excessive profit is received on the investment of each of said companies. He asks that the companies be required to answer the charges and that an order be made reducing the rates 33½ per cent.