Omaha Loan & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: June 2, 1905
Location: Omaha, Nebraska (41.259, -95.938)

Metadata

Model: gpt-5-mini
Short Digest: 34c5fbf6

Response Measures

None

Description

The articles consistently describe the Omaha Loan & Trust Company as being in receivership (receiver W. K. Potter) and disposing of assets and paying dividends to certificate holders from 1905–1908. There is no mention of a depositor run or of reopening; the bank is treated as defunct and in receivership, so classify as a suspension leading to permanent closure/receivership. Dates taken from article publication dates which report receivership actions.

Events (4)

1. June 2, 1905 Receivership

Newspaper Excerpt: Judge Troup has rendered a decision ... against William Potter, as receiver of the Omaha Loan and Trust company and against the assets of the company.
Source: newspapers

2. December 24, 1905 Receivership

Newspaper Excerpt: In the matter of the receivership of the Omaha Loan and Trust company Judge Sears ... pay to the legal holders of all outstanding receiver's certificates ... a dividend of 30 per cent.
Source: newspapers

3. February 1, 1906 Receivership

Newspaper Excerpt: Judge Troup has made an order directing William K. Potter, as receiver of the Omaha Loan and Trust company, to sell ... for $8,300 cash ... to go toward the paying of claims against the defunct trust company.
Source: newspapers

4. June 30, 1908 Receivership

Newspaper Excerpt: William K. Potter has filed in district court a report of the receivership of the Omaha Loan and Trust company ... has collected $1,872,009.13 ... liabilities have been reduced about $3,868,000.
Source: newspapers

Newspaper Articles (4)

1. June 2, 1905 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, June 2, 1905

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Article Text

# CLAIMANT GETS JUDGMENT John W. Paine Given Verdict in Suit Against Receiver for Trust Company. Judge Troup has rendered a decision to which both parties except, and they are given forty days in which to file their bills of exceptions. The decision passes on the claim of John W. Paine against William Potter, as receiver of the Omaha Loan and Trust company and against the assets of the company, for $4,901.65. Paine bought a note for $10,000 which was guaranteed by the company. The court holds that the company had no power to guarantee the interest of Paine in the note. On a sale of certain property given as security Paine realized, as the court holds, all but $1,970.33 of his claim. He is given judgment for this amount against the receiver and against the assets of the company. The receiver is ordered to hold in his possession sufficient of the assets or money of the company to pay Paine's claim for the larger amount if he shall finally prevail in the suit.

2. December 24, 1905 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, December 24, 1905

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Article Text

THIRTY PER CENT DIVIDEND Amount Sears Orders Receiver of Trust Company to Pay to Certificate Holders. In the matter of the receivership of the Omaha Loan and Trust company Judge Sears of the district court has made the following order, on application and showing made by the receiver, William K. Potter: It is further hereby ordered that said receiver shall, as soon as he can properly prepare his books and necessary papers in connection therewith, pay to the legal holders of all outstanding receiver's certificates, issued for claims allowed by the court a dividend of 30 per cent, computed upon the unpaid balance of the principal of said certificates, after deducting from the original amount thereof payments from collateral as above provided, and all payments that may heretofore have been made from collections upon collateral or otherwise and by payment of dividends heretofore ordered by this court. The receiver's statement to the court shows that he now has cash on hand to the amount of $37,299.42. Receiver's certificates have been issued to the amount of $322,467.50, on which payments have been made to the amount of $174,019.79 and dividends declared for $76,484.63. This, with $11,961.24 collected from collateral for the trust fund, makes a total of $262,465.66. The balance of allowed claims unpaid is $60,001.84. In addition to allowed claims paid as above other liabilities have been settled to the amount of $2,742,539.17, making a total reduction of liabilities to date of $3,005,004.83.

3. February 1, 1906 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, February 1, 1906

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Article Text

RECEIVER TO SELL THE LOT W. K. Potter Directed by Court to Dispose of Eight-ThousandDollar Property. Judge Troup has made an order directing William K. Potter. as receiver of the Omaha Loan and Trust company. to sell to Inez Callahan sublot 8 of lot 3. Capitol addition for $8,300 cash. After legal expenses are paid the balance is to go toward the paying of claims against the defunct trust company for which the property was security.

4. June 30, 1908 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, June 30, 1908

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Article Text

POTTER MAKES GOOD REPORT Receiver of Omaha Loan and Trust Company is Discharging Liabilities. William K. Potter has filed in district court a report of the receivership of the Omaha Loan and Trust company since the last report, November 17, 1905. The report shows that he received $4,417.25 in cash when he took charge and has collected $1,872,009.13. making a total of $1,876,426.38 and has disbursed $1,855,247.55, leaving a balance on hand of $21,178.83. The liabilities have been reduced about $3,868,000. The report also shows that the expense of the receivership has not been paid out of the sale of the property of the concern, but that the profits arising from the business transaleted has paid this expense and $33,744 in addition.