13407. Nebraska Savings & Exchange Bank (Omaha, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 4, 1895
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini
Short Digest
06134904

Response Measures

None

Description

Newspapers from Dec 1895 report the Nebraska Savings & Exchange Bank 'has closed its doors' and 'went into voluntary assignment.' A receiver (W. K. Potter) was appointed and pursued actions through 1896–1897. No article describes a depositor run prior to suspension; the bank went into voluntary liquidation and remained in receivership.

Events (6)
1. December 4, 1895 Suspension
Cause
Voluntary Liquidation
Cause Details
Articles state the bank 'went into voluntary assignment' and 'will go out of business' indicating voluntary liquidation/assignment rather than an involuntary failure.
Newspaper Excerpt
The Nebraska Savings and Exchange Bank at Omaha has closed its doors and will go out of business.
Source
newspapers
2. December 5, 1895 Other
Newspaper Excerpt
The Nebraska Savings and Exchange bank, Omaha, Neb., went into voluntary assignment because of unprofitable business.
Source
newspapers
3. December 8, 1895 Receivership
Newspaper Excerpt
W. K. Potter, the receiver of the Nebraska Savings and Exchange bank, has filed an application ... the bank, which recently closed its doors.
Source
newspapers
4. October 17, 1896 Other
Newspaper Excerpt
Receiver Potter ... ancillary proceeding ... to commence action against the Iowa stockholders of the defunct bank.
Source
newspapers
5. December 20, 1896 Other
Newspaper Excerpt
W. K. Potter, receiver of the Nebraska Savings and Exchange bank, has commenced suit in the county court against the city of Omaha for $285.75 on a warrant.
Source
newspapers
6. February 28, 1897 Other
Newspaper Excerpt
Depositors in the Nebraska Savings and Exchange Bank ... adopted resolutions ... demand his removal [of Receiver Potter] and the appointment of a disinterested person.
Source
newspapers

Newspaper Articles (6)
1. December 4, 1895 Semi-Weekly Independent Plymouth, IN
Article from Semi-Weekly Independent, December 4, 1895

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Article Text

WESTERN. A. H. Fuchs' millinery store at St. Louis was damaged $200,000 by fire. Vice President Stevenson and his family left Bloomington for Washington. The Nebraska Savings and Exchange Bank at Omaha has closed its doors and will go out of business. At Cleveland, Ohio. arrangements have been completed by which 3.000 Christian Endeavorers are to unitedly pray for Ingersoll's conversion. Silver Democrats of Ohio are preparing to enter the Presidential fight next year. It is proposed to nominate Congressman Sibley, of Pennsylvania, for President. What is supposed to be the skeleton of Joseph Frommel, of Nelson, Wis., was found in the woods near the mouth of the Chippewa River. Frommel left home last January in a despondent mood. By a decision of the Montana Supreme Court Andrew J. Davis, Jr., of Butte. gets a clear title to $1,000,000 worth of stock in the First National Bank of Butte left by his uncle, the late A. J. Davis. William P. Royce when arraigned at Sioux City, Iowa, for the murder of Constant Roush, alias Nellie Patton. formerly of Van Meter. Iowa, whom he shot, entered a plea of insanity due to cigaret habit. Forty-six people killed; three hundred and thirty-six wounded. This is a part of the price in human life and limb the city of Chicago has paid in eighteen months for the privilege of rapid transit by the trolley system. Judge J. D. Rose, president of the Curryville, Mo., bank, has been hiecoughing constantly for the last week. Although several doctors have attended him, they can do nothing for his relief. His death is hourly expected. The storm of Monday night in Franklin. Ind., developed into a regular tornado, which spread destruction on all sides. The new city hall, the pride of the city, was the worst sufferer from the gale. The damage will amount to $15,000. Many other buildings were partly wrecked. outhouses blown down. trees prostrated and fences and signs torn away. During the funeral of Philip Smith at the Milledgeville, Ohio, Church a heavy piece of plaster molding from the ceiling fell and cut the head of one of the mourners severely. Panic seized the mourners. They rushed to the door, but were checked by the Rev. Mr. Wells, whose «coolness prevented many accidents. The body was taken outdoors and the service finished. The steamer J. Emory Owen and her consorts, the schooners Michigan and Nicholson, were driven ashore a few miles above Chicago during the frightful gale of Monday night. The crews were all rescued by the life-savers, but the boats, valued at $70,000, will probably prove total losses. A large steamer went ashore near Miquon, Wis. The tug Welcome and the life-saving crew rescued the men. Peter McGeoch. one of Milwaukee's oldest and best-known citizens. shot and fatally injured himself at his home Wednesday at noon. His wife had only a few days before brought suit for vorce, incompatibility of temper being the ground stated in the complaint. It is supposed that brooding over this led MeGeoch to take his life. His connection with the famous lard deal several years ago made his name a familiar one all over the country. He was married eight years ago to a Mrs. Libby, of Kenwood, a suburb of Chicago. Twenty-fiveprisoners in the State prison at Jackson, Mich., among them being some of the most dangerous convicts behind its walls, revolted Tuesday, attacking their keepers with bars of iron and hammers.

2. December 5, 1895 The Globe-Republican Dodge City, KS
Article from The Globe-Republican, December 5, 1895

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Article Text

NEWS IN BRIEF. It is rumored that the Trans-Atlantic steamship lines are to form a pool and advance rates of passage in all classes. The will of the late Alexandre Dumas prohibits the publication or the performance of any posthumus works or plays which may be found in his manuscript. A movement has been started to organize an inter-scholastic football association among High school teams of Missouri and Kansas. A. H. Nichols, a farmer living near Lincoln, Neb., threw a heavy club at a refractory horse. The club went wild and struck Nichols' little 8-yearold girl on the side of the head, killing her almost instantly. Alaska's gold output for 1895 is $3,000,000. Snow caused serious live stock losses in Texas. Hyman Hettenhost, a Brooklyn pugilist, shot and killed his two children and himself. Utah sent the largest delegation to the eighth annual Trans-Missiseippi convention at Omaha. Under competitive bidding the government saves $75,000 per year on the printing of the Patent Office Gazette. -E C. Carody and two other men and a boy were murdered and robbed on a trading boat below Arthur City, Texas. Snow or ice have hitherto been unknown in Oklahoma before Christmas, so that the present storm is unprecedented. At Omaha, after a five hours' discussion of the financial issues, the transMississippi commercial congress declared for the free and unlimited coinage of silver on a 16 to 1 basis. Professor Hand, of Perry, Okla., was acquitted OR the charge of murdering ex-Mayor George F. Rohr of Arkansas City, near Kildare, in a dispute over a land claim. Nicaragua commission's report is far from cheering. The project will cost $183,472,893, or nearly double what the Maritime company figured on. Congress is advised to make further inquiries, which means further delay and possibly abandonment of the scheme. Texas points report the heaviest snow storm in years. Kansas and Nebraska report from five to twelve inches of snow. The storm of the 25th brought the lowest temperature of the season over parts of the Missouri valley and the states of Ohio and Tennessee. The Dakotas reported 10 degrees below zero. Last winter's freeze made a difference of from 600,000 to 1,000,000 boxes in the output of the Florida orange crop. Gideon Moore of Cameron, Mo., and Paul Kienger of St. Joseph, Mo., were arrested for counterfeiting. The men raised one and two dollar bills to tens and twenties. Many hundreds of dollars it is said have in this way been put intocirculation. The body of Major General Hancock will be removed next spring from Norristown, Pa., to Arlington cemetery, Washington. Chief Engineer H. R. Leach of the United States steamship Boston, has broken down from overwork and will be retired at once. It is reported that ex-Congressman W. C. P. Breckinridge of Kentucky, has announced his intention to run for Congress again next year. The Nebrska Savings and Exchange bank, Omaha, Neb., went into voluntary assignment because of unprofitable business. Six jointists of Lawrence, Kan., were sent to jail for from thirty to sixty days and fined $:00 each for violating the prohibitory law. The hoister house at the Thornton & Patton mine near Galena, Kan., was destroyed by an explosion of blasting powder and caps. Chief Justice Fuller of the United States Supreme court has decided in the test habitual criminal law case from Missouri that the State is supreme. A. H. Fuch's millinery establishment in St. Louis, Mo., was destroyed by fire during a heavy snow storm. The loss aggregates $115,000. Paris green was placed in the wine cup used by the Rev. J. Jackamoowicz of the Polish Catholic church of Mount Carmel, Pa., but was seen in time. Born, to Mr. and Mrs. Robert Fitzsimmons, at Houston; Tex., a boy. The Akron, Ohio, street railway and general electric plant has been sold to a New York syndicate for $1,200,000. Sharp earthquake shocks were felt at Athens, Greece, and also at Thebis, Corinth and other towns. Thomas Colt, a New York photographer, killed himself and probably maimed for life Miss Carrie Plate at Newark. N. J. A would-be train-wrecker was riddled with bullets and hanged by a mot near Oaks, Marshail county, Ky. C. H. Rogers was ridden on a rail and tarred and feathered at McArthur, Ohio, for insulting a schoolmistress. The sheriff prevented further injuries. Israel King, member of the New Mexico legislature, and Henry Coleman and John Ward, employes, are in prison in Ascension, Mexico, because two cattle belonging to another man were found in a herd being shipped to New Mexico. Revenue officers captured a still, twenty persons and 1,000 gallons of whisky in Union county, Tennessee.

3. December 8, 1895 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 8, 1895

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MR. BOATRIGHT ALLEGES FRAUD. Says that Miles Knew that the Bank Stock Was Worthless. In the county court Charles R. Boatright has begun suit against Andrew Miles to obtain a judgment of $240, the sum which he alleges he paid Miles for some stock in the Nebraska Savings and Exchange bank, which recently closed Its doors. Miles was a director in the bank, holding thirty-three shares of stock. It is alleged by Boatright that on November 21 Miles succeeded in selling him the stock on representations which Miles knew were false. Miles said that the bank was in good condition, would pay dividends on its capital stock within a year and stated that the stock could be sold by Boatright at a 100 per cent advance. To explain his object in getting rid of the shares of stock Miles is charged with having said that he needed some ready cash to pay on California property. On these representations Boatright says he bought the stock. Two days afterward the bank closed its dooro. W. K. Potter, the receiver of the Nebraska Savings and Exchange bank, has filed an application in the district court for permission to enter into a contract with the creditors of the estate of Hugh G. Clark, who are preparing to protect the estate, and at, the same time their claims against it. The bank holds a claim of $4.523 against the estate. It appears that the administrator has found it impossible to dispose of the property at anywhere near its real value, which is placed at $30,000. An agreement has, the efore, been entered into between the heirs and the creditors to turn the property over to a trustee, who is to act for the interests of all parties. He is to hold and take care of the property until he sees an opportunity to advantageously dispose of it. OMAHA, Dec. 7.-To the Editor of The Bee: In reply to the petition of Charles R. Boatright, filed in the district court and referred to in this evening's Be?, charging me with making representations in regard to Nebraska Savings and Exchange bank stock, which, on my part, were knowingly false, I wish to say that I was formerly a director, but have not been so acting for some time, and have attended none of their board meetings for the last three months. He further charges that I succeeded in silling him the stock by misrepresentations, etc. My reply to this is but I never asked Boatright to purchase this stock, as he came into my office and voluntarily made me an offer for it. He further charges that I asserted that the stock could be sold for 100 per cent advance within a year. I deny having made any such assertion: and his public statement to that effect proves that he is thoroughly capable of playing the "baby act" in this whole matter. When the case is called in court, the evidence will show that I knew nothing of the bank's intention of going into voluntary liquidation. but the fact of the bank having done so is no reason why the stock referred to here should not be worth a great deal more than Boatright paid for it. ANDREW MILES.

4. October 17, 1896 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, October 17, 1896

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AFTER THE IOWA STÖCKHOLDERS. Receiver Potter of the Nebraska Savings Bank in Court. Harl & McCabe filed a petition yesterday in behalf of William K. Potter, receiver, against the Nebraska Savings and Exchange bank, which failed about a year ago. , The bank, by its attorney, Silas Corbett, filed in answer and joined in the request of the receiver for the extension of his jurisdiction in the state of Iowa. The action is known as an ancillary proceeding, and is for the purpose of investing Mr. Potter with the legal authority of commencing action against the Iowa stockholders of the defunct bank. The attorneys said yesterday that there were between twenty and thirty parties in Iowa who hold stock in the bank and that action will be brought against them on their stockholders' liabilities. Judge Macy entered an order granting the prayer of the petitioners. Judge Macy spent most of yesterday in reading the court record and winding up the business transacted during the term. He has adjourned court until October 22. He made the following assignment of cases, commencing on that date: Mary A. Gorton against William H. Taylor, et al.; Howard K. Clover against J. P. Jackson, et al.; October 23, C. E. Schuyler against David Pile; John Snyder against Mollie Lee Burhorn; October 24, Jane Anne Dunn against John Peter, E. S. Ettenheimer, trustee, against G. B. Carter, et al.; October 26, Thomas S. Robinson against William Arnd. Mary F. Sanburn has sued George A. Keeline, trustee, to foreclose a mortgage for $6,500, given July 26, 1887, on 280 acres of land north of Lake Manawa. Judgment is asked for $9,850. The judgment that was entered against G. W. Wheeler as surety for Andy Rolen, who was fined $50 and costs for violating the saloon ordinance, was set aside yesterday. The bond signed by Mr. Wheeler for Rolen was for his appearance at the trial of the case, and did not cover the liability incurred under the mulet law.

5. December 20, 1896 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 20, 1896

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# Notes of the Courts. W. K. Potter, receiver of the Nebraska Savings and Exchange bank, has commenced suit in the county court against the city of Omaha for $285.75 on a warrant. Mollie Garlick, a white woman, who was convicted of "touching" a verdant country visitor to a wine room, was sentenced by Judge Letton to thirty days in the county jail.

6. February 28, 1897 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, February 28, 1897

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THEY CONDEMN RECEIVER POTTER. Depositors in the Nebraska Savings and Exchange Bank Resolve. At the last meeting of the depositors of the Nebraska Savings and Exchange bank, John Mackin, Mrs. C. C. McKinney, Lizzie Qualey, G. C. Cockrell and Charles Rosewater, members of the committee, reported a set of resolutions which were adopted by a unanimous vote. After a long preamble, in which grave charges are made against Receiver Potter, came the following resolutions: Resolved, That W. K. Potter is not a fit person for receiver; that his appointment was illegal; his retention is injurious to our interests as depositors; his salary is exorbitant and an unjust confiscation of our property, and we demand his removal and the appointment of a disinterested person of good business capacity at $1,200 per annum, who will close the matter up in six or twelve months and pay the proceeds to the depositors; and we guarantee to find any number of such men competent and willing to do so. Resolved, That we deem Mr. Potter's bond insufficient, as most of the names upon it are said to be insolvent or judgment proof; and we request that the connection of the receiver with the National Bank of Commerce be severed, as inimical to our interests; that the receiver rent an office elsewhere at $10 per month and not $25 as now paid; and that he deposit any money on hand in one of the Omaha banks known as a United States depository, whose officers were not, nor are not, interested in the affairs of the broken bank he represents. Resolved, That it is the sense of this meeting that, owing to a recent decision of the supreme court, we, the depositors, will never realize anything except from the assets, and we respectfully submit to the court that most of us are poor people, who earned this money by hard work at low wages; that many of us are out of employment and have families that suffer privation for want of food and fire, and we protest that the retention of W. K. Potter and Silas Cobb at their high salaries, or at any salary, is an outrage of our rights. We belleve Mr. Potter is not competent to dispose of the assets if he were willing, and that he and Cobb would rather perpetuate their office than wind up the affairs of the broken bank. Resolved. That in order to expedite the sale of assets, a list describing all the property should be made by the receiver, giving name and address of parties owing each claim, with a list of all real estate by street and number. giving name of occupant, if any; that 1,000 copies of such list or schedule should be printed for distribution among the depositors. and that the addresses of all depositors be given to the president and secretary of this meeting by the receiver in order that they may confer together upon a plan of settlement. The next meeting of the depositors of the insolvent bank will be held on the evening of March 8, at the rooms of the Jacksonian club.