Multiple articles report a heavy run on the German Bank of Buffalo beginning Dec 5, 1904; State Superintendent Kilburn closed/suspended the bank that day. The institution did not resume business and a receiver was later appointed; subsequent litigation and receivership actions are reported in Jan 1905 and later. OCR errors in some articles preserved (e.g., Emory/Emery spelling); corrected to Richard Emory as reported in later pieces.
Events (3)
1.December 5, 1904Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals beginning at opening on Dec 5; bank had large amounts in slow loans and alleged misappropriations later alleged, and some large depositors withdrew sizeable sums just before closing.
Measures
Officers placed at doors to keep people out; bank paid depositors in line until closing; Buffalo Clearing-house issued a statement supporting related German-American bank; State Superintendent took control.
Newspaper Excerpt
The German Bank ... has closed its doors. The notice posted on the doors gives the reason for closing as Insufficient funds to meet the constantly increasing run.
Source
newspapers
2.December 5, 1904Suspension
Cause
Government Action
Cause Details
Closed/suspended by State Superintendent F.D. Kilburn on grounds of insufficient funds to meet the run.
Newspaper Excerpt
The German bank of Buffalo was closed today by State Superintendent of Banking Kilburn because of a run which began with the opening of the doors ...
Source
newspapers
3.January 12, 1905Receivership
Newspaper Excerpt
Albert J. Wheeler, receiver of the German Bank, has brought an action against ... directors ... to recover the sum of $762,869.50 ... The receiver charges irregularities ... the wrecked German Bank of Buffalo ... warrants for four officials ... were issued, based on charges of larceny and failure to perform duty. (Jan 12, 1905 reports).
Source
newspapers
Newspaper Articles (22)
1.December 5, 1904Santa Fe New MexicanSanta Fe., Santa Fe, NM
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BANK FORCED TO SUSPEND Continued Run on Buffalo Institution the Cause-Not Uneasy About Other Depository. Buffalo, N. Y., Dec. 5.-The German Bank, of which President Emery, of the German-America is also President, has closed its doors. The notice posted on the doors gives the reason for closing as "Insufficient funds to meet the constantly increasing run." At the German-American Bank today there was no evidence of a run.
2.December 5, 1904Evening Times-RepublicanMarshalltown, IA
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RUN ON A BANK. German Bank of Buffalo Closes Its Doors. Buffalo. N. Y., Dec. 5.-The German bank of which President Emery of the German American is also prestdent closed its doors because of insufficient funds to meet a constantly increasing run. At the German American bank today there was no evidence, of a run.
CLOSED ITS DOORS. Insufficient Funds to Meet Constantly Increasing Run. Buffalo, N. Y., Dec. 5.-The German Bank, of which President Emery of the German-American is also president, has closed its doors. A notice posted on the doors gives as the rea son for closing. "Insufficient funds to meet constantly increasing run.' At the German-American bank today there was no evidence of a run.
4.December 5, 1904The Spokane PressSpokane, WA
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BANK CLOSED (Scripps News Association.) BUFFALO, N. Y., Dec. 5.-The German bank, of which President Emery of the German-American bank is also president, closed its doors.this morning owing to a run on the bank.
5.December 5, 1904Rock Island ArgusRock Island, IL
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RUN SENDS THE GERMAN BANK OF BUFFALO UNDER Other Institution Headed by President is Apparently Emery Safe. Buffalo, Dec. 5.-The German bank. of which President Emery of the German-American is head, today closed its doors because of insufficient funds to meet the constantly increasing run. At the German-American bank today there was no evidence of a run.
6.December 5, 1904Deseret Evening NewsSalt Lake City, UT
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BUFFALO BANK CLOSES. Insufficient Funds to Meet Constantly Increasing Run. Buffalo, Dec. 5.-The German bank. of which President Emery of the German-American, is also president, has closed its doors. A. notice posted on the door gives as the reason for closing: "Insufficient funds to meet a constantly increasing run." At the German-American bank today there were no evidences of a. run.
7.December 6, 1904Arizona RepublicanPhoenix, AZ
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IT WAS RUN TO DEATH The Closing of the German Bank of Buffalo. Buffalo, Dec. 5.-The German bank of Buffalo was closed today by State Superintendent of Banking Kilburn because of a run which began with the opening of the doors and continued to grow in volume as the day advanced. A big crowd of excited depositors gathered in front of the German bank seeking information. Officers were placed at the door and no one was allowed to enter. \All this excitement had the inevitable result of sending nervous depositors hurriedly to the GermanAmerican bank. Soon after the announdement was made that the German bank had closed, the Buffalo Clearing House association issued a statement that it would stand by the German-American bank and meet all demands made upon it. It was also announced that President Emery and two of the directors of the German-American had resigned and that their places had been taken by three wealthy Buffalo men. These two announcements had a reassuring effect and several large deposits which had been withdrawn were again placed in the bank. The small depositors, however, continued to draw out their money and at three o'clock nearly 100 people were in line before the cashier's window. All of them were paid before the bank closed for the day.
8.December 6, 1904The San Francisco CallSan Francisco, CA
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BUFF. ALO BANK CLOSES DOORS BUFFALO, N. Y., Dec. 5.-The German Bank of Buffalo was closed to-day by State Superintendent of Banking Kilburn because of a "run," which began with the opening of the doors and continued to grow in volume as the day advanced. A big crowd of excited depositors gathered in front of the German Bank, seeking information. Officers were placed at the door and no one was allowed to enter. All this excitement had the inevitable result of sending nervous depositors hurying to the German-American Bank, a kindred institution. Soon after the announcement was made that the German Bank had closed, the Buffalo Clearing-house Association issued a statement that it would stand by the German-American Bank and meet all demands made upon it. It was also announced that President Emery and two of the directers of the German-American Bank had resigned and that their piaces had been taken by three wealthy Buffalo men. These two announcements had a reassuring effect and several large deposits, which had been withdrawn, were replaced in the bank. Small depositors, however, continued to draw out their money and at 3 o'clock nearly 100 persons were in line before the cashier's window. All of them were paid before the bank closed for the day. Superintendent Kilburn is of the opinion that the German Bank will not resume business. In regard to the bank's assets. he said: "A great deal of the money is out on what might be designated as slow loans. The deposits amount to between $5,000,000 and $6,000,000. About $3,000,000 of that sum represents business that should have been done with a savings bank, rather than a discount bank, it being the accounts of small depositors."
9.December 7, 1904Weekly Arizona Journal-MinerPrescott, AZ
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out in the top after holes had two been baggage cut d at engine, safely 3.and with mail axes. cars The passed the the track, bridge but the e and remained of the on train was derailed. to remainder relief train which returned went late the too The wreck injured g scene of bringing the many Pacific of hospital the and night, Missouri The wreck y s other to the hospitals of this miles city. west of where Deadoccurred near of y mans wreck in the Curse, fourteen Warrensturg, history last October lives. Mish the worst Pacific happened their souri thirty persons lost it that orders supposition crew at Centerd were given Water It view to broken c when The slow the up train at has rail Works there. bridge time account of a was behind seems on that order the not train heeded. running When the at 1 and passenger train was this bridge speed and which heavy high this struck rail turned it d struck and a projected the broken from the crash ground. and There three were was a diner and a o tremenduous sleeper embank- A ment. d (oaches, hurled down a the twenty was foot terrible. into The scene near by was turned relief nntil hospital country house the medical and e train arrived. 7 on Ludlow, S Los Angeles, Dec. about 5-At 3:30 o'clock Fe at west bound morning, was a knock train this the Santa had left, after express there the car. Messen- at a door of the that it was Roberts crew. the thought train He then ger of the did so he the door. with a was struck to the member opened when on he sunk the As head he floor. the man six He shooter however, and got up, Before he could get up him again. deliberately shot by again he was bullet passing robber, The robber then took a soon breast. hit the safe securing through his keys few the his dollars and opened the cash and a draft and other the for to Dagget hundred $5,000, got in valuables. railroad not When bethe train into the car, agent tried to to arouse ge the messenger, right. be- He ing able all was not called the conductor saw at then door. They lieving opened that the been and looted. both a glance men that the car found had in his cot at The messenger the was car where he had one end before of losing consciousness. and a surcrawled suffering was intense After His called to give relief. physician pronounced geon a hasty was examination Mr. Roberts' the the wounds physician as Roberts informed which he fatal. intervals the manner in made as at attacked. He was had as possible under to and was cumstances comfortable been brought the the name this cirtoday. A negro giving at Barstow city was arrested that he of Williams the police believe the today and something material about to Los knows He will be taken belief robbery. tonight, and there him is a as the Angeles Roberts can identify in the that Two big posses are over. robber. looking the country and it is field today Fe offer a reward likeThe Santa that Wells Fargo will a well believed offer a reward. Roberts 18 much wise and very known is expressed for at considerable sympathy also messenger, fee'ing robbery, him. There and all is adjacent to this and points direct evidence is given, will capture if any is made, summary justice follow. Angeles, Dec. 5-The municipal today. Los was held in this city is generally candidates. Owen M. P. The republican election result favorable over McA1eer, been to republican, was elected has the democrat, who plurSnyder, for six years. McAleer's thousand. mayor is from three to four also elect the nine wards. ality The six republicans is of councilmen The demo- and in elected two councilmen chosen in crats Houghton, independent, was elect the a auditor, the sixth. clerk The and republicans is attorney. very colse. The A t fight for treasurer made against the su t bitter fight was of streets, Werding, defeat and S perintendent in his overwhelming The o resulted six to eight thousand. not e results by from on city amendments were partisan n determined tonight. A chosen. non school board is probably is r Buffalo, N. Y., Dec. The German by t of Buffalo was closed today Kila State bank Superintendent of Banking began because of a run which and d with burn, the opening of the doors the day advanced hig crowd of continued to grow in volume excited as
10.December 8, 1904Daily Kennebec JournalAugusta, ME
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TOOK THE CHECK Even Though They Knew Failure Was Only Few Minutes Away. Buffalo. N. Y., Dec. 7.-Warrants were issued, this afternoon. on application of E. M. Block. pawnbroker, of this city, for the arrest of President Richard Emory. Cashier Paul Werner and Assistant Cashier William P. Luedeke of the suspended German Bank, on a charge of grand larceny in the second degree. Block charges that a New York draft he bought at the German Bank, 10 or 15 minutes before it suspended. Monday. giving a check therefor. has been returned. the bank upon which it was drawn having no funds. He says he has since learned that the German Bank withdrew all its funds from the New York bank on Saturday last. Emory. Werner and Luedeke appeared later before Judge Murphy and were held for a hearing. tomorrow morning. Werner and Luedeke declared that the German Bank had to its credit in the New York bank funds in excess of 10,000. The fact that payment of the draft was refused was due to the fact that when Supt. Kilburn took charge of the bank he immediately telegraphed all banks in which the German Bank had deposits. instructing them not to pay out any more money on account of the German Bank.
11.December 14, 1904New-York TribuneNew York, NY
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BANK OFFICIALS DISCHARGED. Hearing in German Bank Case in BuffaloJohn Doe Proceedings. Buffalo, Dec. 13.-In the police court to-day President Emory. Cashier Werner and Assistant Cashier Luedeke, of the supended German Bank, charged by E. M. Block with having sold him a draft on a New-York bank, while knowing that the German Bank had withdrawn all of its funds from that bank, had a further hearing, at the close of which they were discharged. A statement was submitted from the New-York bank showing that the balance in favor of the German Bank on the day on which it closed its doors was $31,082. Judge Murphy declined to allow Assistant Cashier Luedeke to be recalled, and then made the following announcement: "I will permit John Doe proceedings to be brought by this creditor or any depositor of the bank who wishes it. Several depositors have spoken to me on the subject. The fact remains that the bank took the money of these people. and they can't get it. They are entitled to the knowledge why they can't get it." Block's counsel then announced that he would avail himself of this permission. After court adjourned Judge Murphy issued subprenas for F. D. Kilburn, State Superintendent of Banks, and for the officials of the bank to appear before him next Monday.
12.December 16, 1904The Olneyville TimesProvidence, RI
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DOMESTIC. Twelve miners were known to have been killed in an explosion in a mine in Burnett, Wash. In a test vote at a meeting of the Kings County (N. Y.) Committee Senator McCarren was supported by 220 to 75. Snow in Kansas saved the winter wheat. Prince Fushimi was entertained at Yale University. stopping off on his way from Boston, Mass., to New York City. Several auto drivers in New Jersey were arrested by alleged deputies, who led them to a make-believe Justice in the woods, who fined them $25 each. The United States Supreme Court approved the order of the Texas District Court dismissing the habeas corpus suit of Charles F. Dodge. The Empire State express ran into a freight wreck near Little Falls, N. Y., and the engine was smashed. No one was badly hurt. The German Bank, of Buffalo, N. Y., being unable to meet a run, was closed by F. D. Kilburn, State Superintendent of Banking. A suit for $350,000 brought by Paul Fuller and F. R. Coudert, of New York City, against Thomas W. Lawson was entered in the Massachusetts Supreme Court at Boston. Mass. William Blaikie, lawyer and athlete, counsel in Fayerwether will case, died of apoplexy. A number of convictions were found In land fraud cases in Oregon. A decision of the Court of Appeals at Albany, N. Y., prevents the State from recovering over $1,000,000 penalties for alleged violation of the game laws. President Francis. of the World's Fair. will make a tour of Europe to thank officials and others for taking part in the exposition. Governor-elect Douglas held a conference with Massachusetts Democratic leaders in Boston. Governor Odell, of New York State. had conferences with ex-Governor Black and others regarding the election of a Senator. William S. Vanderbilt Allen. of New York City, is seeking to recover $50,000 for alleged illegal detention for six years in a private sanitarium. John A. Sleicher gave a dinner in honor of Governor-elect Higgins at the Holland House, New York City. Governor Odell, Senator Depew and exGovernor Black were among others present. After funeral services in the Bloomingdale Reformed Church, in New York City, the body of Mrs. G. H. Gilbert. the famous actress, was buried in Greenwood Cemetery.
13.January 13, 1905Daily Kennebec JournalAugusta, ME
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APPLEYARD MISSING. German Bank Creditors Would Like Know His Whereabouts. Boston, Jan. 12.-Arthur E. Appleyard of this city, against whom charges have been made in connection with the failure of the German Bank at Buffalo, N. Y., has not been in his office here for more than three days. It was stated by employes of Mr. Appleyard that they had no knowledge whatever as to where he had gone. The charges against Mr. Appleyard, who is best known as a promoter of electric railways in various parts of the country, have been made by a representative of the attorney general's office of New York, by means of filing an affidavit charging conspiracy to defraud the bank and asking that, if the crime be proved, warrants be issued for Appleyard and others. Several weeks ago several trolley roads in the state of Ohio, of which Appleyard was the principal owner, were placed in the hands of receivers. It was these railways which Appleyard offered as security for heavy loans made to him by the Buffalo bank.
14.January 13, 1905New-York TribuneNew York, NY
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SUES TO RECOVER $762,869. Receiver of German Bank of Buffalo Brings Action Against Directors. Buffalo, Jan. 12.-Albert J. Wheeler, receiver of the German Bank, has brought an action against Eugene A. Georger, formerly president of the defunct institution; Arthur E. Appleyard, Richard Emory and other directors and former directors of the bank, to recover the sum of $762,869.50 for wrongful misappropriation of the funds of the institution and for disregard of their duties as directors. It is further alleged that Georger and Appleyard entered into an agreement whereby the control of the bank was to pass from the former to the latter and that men should be put in charge of the bank whom Appleyard should select, and that Emory was insolvent when he became president of the bank.
15.January 21, 1905Virginia GazetteWilliamsburg, VA
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By Wire and Cable.
Governor Peabody began his contest against Governor Adams for the governorship of Colorado. Two Democrats were expelled from the State Senate.
The receiver charges irregularities involving $662,869 in the wrecked German Bank of Buffalo, of which Richard Emory, of Baltimore, was president.
Four persons were burned to death in a freight wreck at Piggot, Ark.
Ex-Gov. Morgan G. Bulkeley was nominated by Connecticut Republicans for Senator to succeed Joseph R. Hawley.
The steamer Indus was stranded near Fire Island on her way from Havana to New York.
F. R. Pierson, of Tarrytown, N. Y., has paid a florist $20,600 for a new variety derived from the Lawson pink.
The American Medical Association complimented Havana on its sanitary plants and adjourned.
16.January 31, 1905The Morris County ChronicleMorristown, NJ
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FOREIGN. The Standard Rope and Twine Company, of New York City, unable to meet the interest on its bonds, went in the hands of receivers. Five horses were burned in a stubborn fire at Thirteenth avenue and Thirtieth street, New York City. 1 Warrants for four officials of the insolvent German Bank at Buffulo, N. Y., were issued, based on charges of larceny and failure to perform duty. Philadelphia police arrested "Flossie" Murphy, who, they charge, is "the woman with the erutch," leader of a band of safe burglars. Mrs. William Wilkins entered a church at Rahway, N. J., while a funeral service was in progress, snatched her daughter from a mourner and drove away. She has sued her husband for a separation. The report of the Superintendent of Public, Works, given out at Albany, N. Y., showed that the last season was a comparatively poor one as regards tonnage on the State canals. The tenth annual report of the New York State Commissioner of Prisons was made public at Albany. Two amendments to the indeterminate sentence and parole law were recommended. Poland joined Finland and the rest of the Russian empire began rising, and strikes and conflicts continued to spread over the interior. In M. Rouvier's statement of policy before the French Chamber the discussion of the income tax was placed ahead of that on the separation of Church and State. Governor Davis, of the Panama Canal zone, reported that only three deaths have occurred from yellow fever in Panama since the United States took charge, and that the whole town is being fumigated. The Sultan of Morocco, a special cable dispatch said, has summoned two of the principal men of each town to a conference on the proposals of France. Prince Gurielly, a police official, was shot and killed by an unknown man at Batoum. A blizzard helped materially to maintain order in Moscow. German authors and artists are signing a petition to the Czar to spare Gorky's life. A number of Herero chiefs have surrendered, and it was believed that the end of the revolution was near, but Germany continued to send troops to South Africa. From Wonson a special cable dispatch announced that the Russians on the east coast of Korea were retiring north. M. Rouvier has completed the formation of a new French Cabinet. Finland can have all the guns it wants when the time comes for revolt against Russia, it was reported. These arms were partly procured in England. Arms will also be supplied to Poland. China's reply to Russia's charges of a violation of neutrality was presented to Secretary Hay. It is a general denial. Counter charges against Russia are set up. The strikers, who numbered nearly 220,000, were simply awaiting the influence of public opinion on the coal mine proprietors and the efforts of the German Government to assist in the settlement. The revolution spread to Moseow Odessa and other important eities in Russia. . Grand Duke Vladmiir, of Russia. or dered 500 machine guns from a Ger man factory Three Austrian Army corps moving to the Galieian frontier gave ground for the theory that half a dozen Russian provinces may be "pacified" into Austrian territory.
17.February 3, 1905The Olneyville TimesProvidence, RI
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pany. of New York City, unable to meet the interest on its bonds, went in the hands of receivers. Five horses were burned in a stubborn fire at Thirteenth avenue and Thirtieth street, New York City, Warrants for four officials of the insolvent German Bank at Buffalo, N. Y., were issued. based on charges of larceny and failure to perform duty. Philadelphia police arrested "Flossie" Murphy, who, they charge. is "the woman with the erutch," leader of a band of safe burgiars. Mrs. William Wilkins entered a church at Rahway, N. J., while a funeral service was in progress, snatched her daughter from a mourner and drove away. She has sued her husband for a separation. The report of the Superintendent of Public Works, given out at Albany, N. Y., showed that the last season was a comparatively poor one as regards tonpage on the State canals. The tenth annual report of the New York State Commissioner of Prisons was made public at Albany. Two amendments to the indeterminate sentence and parole law were recommended. Poland joined Finland and the rest of the Russian empire began rising. and strikes and conflicts continued to spread over the interior. In M. Ronvier's statement of policy before the French Chamber the discussion of the income tax was placed ahead of that on the separation of Church and State. Governor Davis, of the Panama Ca. nal zone, reported that only three deaths have occurred from yellow fever in Panama since the United States took charge. and that the whole town is being fumigated. The Suitan of Morocco. a special cable dispatch said. has summoned two of the principal men of each town to a conference on the proposals of France. Prince Gurielly, a police official, was shot and killed by an unknown man at Batoum. A blizzard helped materially to maintain order in Moscow. German authors and artists are signing a petition to the Czar to spare Gorky's life. A number of Herero chiefs have surrendered. and it was believed that the end of the revolution was near but Germany continued to send troops to South Africa. From Wonson a special cable dishe Russians on patch announced that the east coast of Korea were retiring north. M. Rouvier has completed the forma. tion of a new French Cabinet. Finland can have all the guns It wants when the time comes for revolt against Russia, it was reported. These arms were partly procured in England. Arms will also be supplied to Poland China's reply to Russia's charges of a violation of neutrality was presented to Secretary Hay. It is a general de nial. Counter charges against Russia are set up. The strikers, who numbered nearly 220,000, were simply awaiting the in fluence of public opinion on the coal mine proprietors and the efforts of the German Government to assist in the settlement. The revolution spread to Moscow dessa and other important cities in Russia. Grand Duke Vladimir. of Russia. or dered 500 machine guns from a Ger man factory Three Austrian Army corps moving to the Galician frontier gave ground for the theory that half a dozen Rus sian provinces may be "pacified" into
18.August 16, 1905The Montgomery AdvertiserMontgomery, AL
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HEAVY RUN MADE. Books of Defunct German Bank Show Heavy Checking. Buffalo. August 15.-The books of the defunct German Bank just produced by court order for the inspection of the creditors organization show large amounts were withdrawn by a few depositors on the Saturday preceding the closing of the bank on Monday, December 5. the day of the failure. On Saturday, December 3, the following was withdrawn: H. G. Falke, $25,000; Freehold Savings and Loan Association, $15,000. On Monday morning previous to the closing the following withdrawals were made: J. Neff, $33,432: Nina Levin, $29,600; H. C. Curtis, $6,000. Mr. Neff was formerly auditor of Erie County. It has been charged that several of the largest depositors were warned that the bank was to be closed.
19.September 6, 1905The Daily Morning Journal and CourierNew Haven, CT
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ACTION THROWN OUT. Suit Against Buffalo Bank Directors to Recover $662,000. Buffalo, N. Y., Sept. 5.-The actions brought by Receiver Wheeler of the defunct German bank against Arthur E. Appleyard of Boston, Eugene A. Georger, Richard Emery, Jacob Dold of Buffalo and other directors of the bank to recover $662,000 on the ground that the defendants conspired to wreck the institution, were thrown out of court today by Judge Kenefic. The claim that causes of action were improperly joined in that cause for action against Appleyard for alleged intentional wrongful appropriation of the bank's funds was united with the action against the bank's officers and directors for negligence was sustained. Receiver Wheeler will start new actions against the defendants, suing several of them separately.
20.January 11, 1906Valentine DemocratValentine, NE
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Short News Notes. Horatio Ray Miller of New York died in London of pneumonia. The directory of the Cleveland Electric railway have raised the wages of more than 2.000 motormen and conductors 1 cent an hour. Justice Konefick of Buffalo authorized Receiver Wheeler of the German bank of Buffalo to accept the $650,000 offer of the Misets Realization Company of Chicago or the bank's assets now in his hands. The face value of the assets is $2,100,000.
21.June 14, 1907Alexandria GazetteAlexandria, VA
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Appleyard in Buffalo. Buffalo, N. Y., June 14.-Arthor Appleyard, who lost heavily on the Philadelphia Exchange yesterday and who was reported to have disappeared from that city, is in Buffalo. Today was set for Appleyard to pay $40,000 to the creditors of the defunct German Bank. Appleyard told receiver Wheeler today that he was unable to pay owing to his losses. He said he would go to Boston tonight and ascertain it he could later make an offer of settlement. Appleyard is under indictment here on charge of grand larceny in connection with the failure of the German Bank. It is alleged be fraudulently secured loans from the bank.
22.May 18, 1908New-York TribuneNew York, NY
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GEORGER ACTIONS SETTLED. Indictments Not To Be Dismissed Before $80,000 Is Paid Bank Receiver. Buffalo, May 17.-All actions against Eugene A. Georger, both civil and criminal, arising out of the wrecking of the German Bank of Buffalo, were practically settled yesterday for $80,000. Justice Pound granted the orders which make the settlement of the civil actions effective. He reserved decision on a motion to dismiss the indictments against Georger charging larceny and perjury, but intimated that he would grant the motion as soon as the $80,000 is turned over to the receiver of the German Bank. Georger was president of the German Bank. He sold a controlling interest in It to A. E. Appleyard, of Boston, shortly before it went into the hands of a receiver. Civil and criminal actions were begun against Georger by the District Attorney and a depositors' committee, Attorney General Jackson finally taking the criminal cases out of the hands of the District Attorney. Mr. Jackson came here yesterday, and after a conference with his deputy announced that he coincided in the opinion of the receiver that the proposed settlement was the best thing for all concerned. The $80,000 will give the depositors about 2 per cent, making a total of about 85 per cent paid to them by the receiver.