13388. German Savings Bank (Omaha, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
February 11, 1901
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini
Short Digest
2533d675

Response Measures

None

Description

Articles indicate the German Savings Bank was already defunct and in the hands of a receiver (receiver Thomas H. McCague). There is no mention of a depositor run; rather legal actions around the receiver and compromises with stockholders are discussed. The receivership/closure appears to have begun in 1901 (receiver report covers Feb 11–Dec 28, 1901) and litigation over receiver actions is reported in Feb 1902, so this is a suspension that ended in permanent closure/receivership. Bank type inferred as 'state' (savings bank) though charter not explicitly stated.

Events (2)
1. February 11, 1901 Suspension
Cause
Government Action
Cause Details
Bank placed in receivership; receiver filed reports and administered estate (receiver appointed Feb 11, 1901).
Newspaper Excerpt
The report of Thomas H. McCague, receiver of the German Savings bank, from February 11 to December 28, 1901, was approved by Judge Fawcett of the district court.
Source
newspapers
2. February 11, 1902 Receivership
Newspaper Excerpt
Chief Justice Sullivan has issued an injunction against the receiver and legal representatives of the defunct German Savings bank of Omaha, restraining them from enforcing... a compromise made by the receiver with certain stockholders.
Source
newspapers

Newspaper Articles (3)
1. February 11, 1902 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, February 11, 1902

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Article Text

BENEFITS OMAHA DEPOSITORS Chief Justice Sullivan Issues Injunce tion Against Compromise of German Savings Bank Claims. (From a Staff Correspondent.) LINCOLN, Feb. 10.-(Special Telegrams) Chief Justice Sullivan has issued an injunction against the receiver and legal representatives of the defunct German Savings bank of Omaha, restraining them from enforcing, or attempting to enforce, a decree of the Douglas county district court approving a compromise made by the receiver with certain stockholders. This restraint shall exist until the supreme court can investigate. The case has already been appealed. The injunction was issued on the application of Grant S. Cobb, one of the depositors and creditors of the institution.

2. September 6, 1911 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, September 6, 1911

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Article Text

Ten Years AgoThe city was crazed with excitement over the news that President McKinley had been assassinated at Buffalo. The Bee beat all the other papers out with its extra announcing the calamity. George Baird and B. McCaffrey, socialist speakers, were arrested for blocking the streets with crowds listening to their harrangues. Senator W. A. Clark of Montana was in Omaha and on hearing the news of the president's assassination said: "The man was shot. They muzzle dogs when they begin to snap around and become threatening and it is deemed wise to do so. How much more essential that they should render harmless people of the same vicious or insane natures? Should President McKinley die the enormity of the loss to all civilization could not be overestimated or exaggerated." George Kleffner resigned as president of the Central Labor union, as the alternative of resigning his job as letter carrier, the option having been given him from Washington. City Prosecutor B. F. Thomas returned from Louisville, Ky., where he attended the triennial conclave of the Knights Templar. Thomas H. McCague, receiver of the German Savings bank, has filed in the district court a special report, complaining that Sarah J. Dewey, Henry Lehmann, Peter Birkhauser and Charles S. Avery refused to comply with the order of court requiring stockholders to pay in to the receiver $80 a share.

3. December 31, 1911 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 31, 1911

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Article Text

Ten Years AgoThe shocking news that Joe Bartley had been unconditionally pardoned from the penitentiary by Ezra P. Savage, governor, reached the city. It was the governor's New Year gift to the man, who as state treasurer, had defaulted in the sum of over half a million dollars. The governor took up three columns of newspaper space to explain why he let Bartley out. Omaha closed the year with bank clearings of $329,043,888 and building permits of $1,230,300. Mrs. Jane Allen, grandmother of Allen E. Goble and Herbert S. Crane, died at 816 North Forty-first avenue. A modern fire engine house at Eleventh and Jackson streets was announced as a New Year gift to the city by Mayor Moores and the city council. The report of Thomas H. McCague, receiver of the German Savings bank, from February 11 to December 28, 1901, was approved by Judge Fawcett of the district court. Joel W. West, attorney for the defunct bank, filed a bill in the court for $3,500 for services. Dr. Frederick F. Teal, superintendent of the Hospital for the Insane at Norfolk, was in the city and he planned on returning to Omaha to reside permanently February 1. The subcommittee of five appointed by the committee of fifteen on the consolidation of a greater Omaha, reported its plans. They were for the consolidation of Omaha, South Omaha, Florence and Dundee in one city government. The committee was J. M. Woolworth, H. W. Yates, John L. Webster, T. J. Mahoney and J. H. Van Dusen,