Hamilton Bank (New York, NY)

Episode Information

Episode Type
Run → Suspension → Reopening
Start Date
October 21, 1907
Location
New York, New York (40.714, -74.006)
Bank Type
state

Metadata

Episode ID
Bank ID
City ID
360975772
Model
gpt-5-mini
Short Digest

Notes

Articles link the run to large Heinze loans and show a receivership then a court-ordered reopening.

Events (4)
1. October 21, 1907 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals followed revelations/allegations of large loans and questionable loans to F. Augustus Heinze and related insiders.
Measures
Committee of stockholders/depositors formed a plan to pay depositors in cash and staged certificates to enable resumption; solicited assents from depositors.
Newspaper Excerpt
The Hamilton Bank suspended after a run lasting for three days, in which 40 per cent of the total deposits of the institution was withdrawn.
Source
newspapers
2. October 23, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension followed the multi-day run and concerns about large insider/Heinze loans and the bank's loan practices.
Newspaper Excerpt
The Hamilton Bank, which suspended on October 23...
Source
newspapers
3. October 23, 1907 Receivership
Newspaper Excerpt
Frank T. White, the temporary receiver for the Hamilton Bank, said yesterday that he had received information of wrongdoing in the conduct of the bank's affairs ... Mr. White ... will file his bond of $200,000 and take charge of the bank to-day, made the following statement: ...
Source
newspapers
4. January 20, 1908 Reopening
Newspaper Excerpt
The Hamilton bank has been found solvent and it will reopen January 20 with $1,800,000 on hand.
Source
newspapers

Newspaper Articles (22)
1. October 25, 1907 Daily Press Newport News, VA
Article from Daily Press, October 25, 1907

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# RATES 100 PER CENT AT ONE TIME Money Put in by the Bankers, However, Sent it Down to 10 per Cent. in a Hurry-One of the Most Memorable Scenes Ever Witnessed on the Stock Exchange-Three Small Banks Go Under. (By Associated Press.) NEW YORK, Oct. 24-As a result of today's developments in the financial world there is every indication that the crisis in the banking and trust company situation has been satisfactorily passed. The Trust Company of America all through the day's banking hours paid out money to depositors as rapidly as possible and closed the day with all demands having been met. A favorable feature of the situation respecting this company was that it was able to make its payments with very little assistance and another was the company received over its counters in the morning hours in ordinary deposits more than $1,000,000. It was the general impression in financial circles that this company having withstood today's run with so little trouble was undoubtedly in good condition to continue its business and in fact that the company and its affairs were not considered as a factor any longer in the general situation. As the Trust Company of America has been the center of the recent financial storm it was accepted that the ability it has thus shown to weather the storm was a clear indication that the financial sky had cleared and that a period of fair weather was now well in sight. The day was marked by three noteworthy episodes. First and earliest in the day came the announcement of trouble in three minor state banks in Harlem-the Hamilton bank, the 12th Ward bank and the Empire City Savings bank. These banks transacted only a neighborhood business and their suspension of payment was absolutely without significance and bearing on the general situation. State Bank Examiner Judson, however, declared this afternoon that all three were solvent and that depositors would lose nothing. The second episode was in a run against the Lincoln Trust company. The run against this company was virtually throughout the day, but the sums withdrawn were not large. At the close of the day the company's officials announced that they were fully able to meet all obligations. J. P. Morgan to the Rescue. By far the most notable, even dramatic, episode of the day was the emptying of millions of money into the Stock Exchange through a pool led by J. P. Morgan and other financiers in order to avert a ruthless selling out of stocks, held by brokers, which was threatened because of their inability to obtain renewals of loans on which there stocks had been carried. A remarkable condition brought about this extreme stringency in money which had gradually forced the interest rate up to an almost unprecedented figure. Certain large interests of great financial resources had been charging recently what was in effect, if not legal, usurious rates on all call loans. One institution that has been engaged in this practice was itself a member of the clearing house and was severely criticised by other bankers for its action on the ground that this added an unnecessary complication and strain upon the money situation. As a result of the criticism this institution withdrew its support and declined to offer money on call on the Stock Exchange. The effect of this was to run the rate for money today up to 100 per cent, and when that figure was quoted an extremely sharp decline resulted in the stock market Union Pacific, a ten per cent. stock selling down to por. Notwithstanding the high rate for call money that might have been obtained the National City bank. John D. Rockefeller, personally and other prominent monied interests sent funds to the Stock Exchange to be let at the normal rates of per cent. These cums, however, were not sufficient to meet the demand and for a time there was great confusion and hurried calling of stocks on the Exchange. At the time that excitement was at its highest, the announcement was made that a pool had been formed with J. P. Morgan at its head to come to the relief of brokers for whom it was necessary to provide funds at once in order that they might cary the stocks they were holding for their customers. The Morgan pool brought a sum of money amounting

2. October 25, 1907 Palestine Daily Herald Palestine, TX
Article from Palestine Daily Herald, October 25, 1907

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The Herald hastens to inform the public that the Hamilton Bank, which suspended payment in New York yesterday, is no relation to this paper, and does not affect those we owe. We still owe you, all right.

3. October 31, 1907 New-York Tribune New York, NY
Article from New-York Tribune, October 31, 1907

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HAMILTON BANK'S PLAN. Proposition for Resumption of Business Sent to Depositors. After a meeting of a committee representing the stockholders and depositors of the Hamilton Bank, which suspended on October 23, held last night at the offices of the institution at No. 215 West 125th street, a plan was announced which, in the opinion of the committee, will enable the bank to resume business if approved by the depositors and stockholders. The Hamilton Bank suspended after a run lasting for three days, in which 40 per cent of the total deposits of the institution was withdrawn. A committee was chosen from among the stockholders and depositors to work out a plan for resuming business. The committee consisted of W. A. Martin, a real estate dealer; Add Reisenberg, of H. C. F. Koch & Co., and George F. Brown, of the firm of Duff & Brown. At the meeting of this committee a circular letter was prepared, to be sent to the 17,000 depositors, in which the plan for rehabilitating the bank was set forth. The plan is to be submitted to the depositors for their approval. In the opinion of the committee the refusal of the acceptance of this plan would probably mean that the bank would have to be liquidated. The plan, in brief, follows: Depositors in the bank shall on presentation of their passbooks receive on account of their deposits 10 per cent in cash and 15 per cent in certificates of deposit, payable ninety days from the date on which the bank shall resume, and 15 per cent in a certificate of deposit. payable in six months from the date of resumption. The balance, 60 per cent, shall be a certificate of deposit, payable one year from the date of such resumption. The certificates of deposit are to become payable, as above stated. whenever in the judgment of the officers of the bank the business will permit. The bank will accept said certificates for loans made or anticipate their payment. As soon as such number of depositors and such amount of deposits shall have assented to the plan as will, in the judgment of the committee, warrant the resumption of business on the part of said bank. the committee is to have the right to declare the plan operative and therefore becoming binding upon all depositors assenting to said plan, but the same shall not be binding in case the bank should go into liquidation. The committee is confident that the bank is solvent and its captal is unimpaired. William R. Montgomery, president of the bank, is a member of the committee on resumption of business,

4. November 3, 1907 New-York Tribune New York, NY
Article from New-York Tribune, November 3, 1907

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# WANT HAMILTON PROBE. Bank Depositors Ask a Public Investigation. Charles H. Tuttle, of the law firm of Davies, Stone & Auerbach, No. 32 Nassau street, representing depositors in the Hamilton Bank, of New York City, obtained from Justice FitzGerald, of the Supreme Court, yesterday an order against Attorney General Jackson, Clark Williams, the State Superintendent of Banks, and the officers and directors of the Hamilton Bank, to show cause on Thursday next why a public investigation of the affairs of the bank should not be made. The action is brought under a section of the State banking laws, which provides that depositors whose deposits aggregate or exceed $1,000 in a bank which suspends business may apply to the Supreme Court for a thorough public investigation. Some of the depositors have been dissatisfied with the action of a committee of directors, officers and shareholders, in formulating a plan for paying off the depositors, which calls for the payment of 10 per cent to depositors when the plan becomes opera-

5. November 3, 1907 New-York Tribune New York, NY
Article from New-York Tribune, November 3, 1907

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# HAMILTON BANK'S AFFAIRS tive; another 15 per cent ninety days later, 15 per cent more in another ninety days, and the balance, 60 per cent, within one year. In the mean time the deposits are not to bear interest, and consent to the plan as irrevocable. The committee's plan is also objected to because it compels the depositors to lend to the stockholders 60 per cent of their money for one year without interest. E. R. Thomas was president of the bank and F. Augustus Heinze was one of the directors up to three weeks ago, when a syndicate took over the affairs of the bank. Mr. Tuttle said: "It is common knowledge that there are large Heinze loans carried on the bank's books. "If the bank is insolvent, why is not an immediate settlement better? If the bank is just solvent, and a delay in the sale of securities is necessary to protect depositors' interests, they would like to know this fact. "If the court grants an order for an investigation, as I am sure it will, there will be a public investigation and a public report, so that all may know just where the bank stands. We have served the Attorney General, the State Superintendent of Banks and the officers of the bank with notice of this action to-day. "There has also been dissatisfaction with the statement made by the bank that during the three days which preceded the 'run' on the bank 40 per cent of the deposits were withdrawn. But there was no visible 'run' on the bank; no line of depositors waiting outside, and nothing to indicate a 'run' on the institution. And if this money was withdrawn, as the bank's officers state, my clients suspect that it was withdrawn by persons in a position to know the bank's affairs, and that statement, intended to show the bank's strength, is taken by some of the depositors to mean a breach of confidence instead on the part of the bank's management." Attorney General Jackson, when asked over the telephone this afternoon if he had been served with such an order, replied: "I have not, and know nothing about any such proceeding." One thousand depositors of the Hamilton Bank held a meeting at the hall at No. 510 West 145th street last night, to consider the arguments advanced by Mr. Tuttle. W. R. Montgomery, the newly elected president of the bank, announced from the platform that he would go over the affairs of the bank with a number of business men who are to be selected, and would argue against the motion on Thursday. There was no necessity, he said, for having a public investigation. Some of the speakers were Dr. H. P. Decoursey, Clement H. Smith, William H. Poor, J. H. Thomas and John R. Leo.

6. November 5, 1907 New-York Tribune New York, NY
Article from New-York Tribune, November 5, 1907

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HAMILTON GETS MANY ASSENTS. President Montgomery Thinks Bank Will Soon Open Its Doors. William R. Montgomery, president of the Hamiton Bank, received yesterday a large number of assents to the plan by which the bank hopes soon to resume business. This plan provides that depositors shall receive 10 per cent when the bank reopens, 25 per cent in thirty days, 25 per cent in sixty days, 25 per cent in ninety days, and the remaining 15 per cent in one year. Speaking of the situation last night, Mr. Montgomery said: "I believe that we shall open our doors by the and of the week. There are, however, some skeptical persons who have consulted lawyers as to the plans, and who have been advised not to sign the. agreement, on the ground that the bank will open its doors within g short time. + nis, however, is not the case. The Hamilton Bank will not open its doors until assents have been received from its seventeen thousand depositors. If we do not receive the assents the bank must go into the hands of a receiver. "I do not believe, however, that a receiver will be necessary, for to-day we have received many assents, and from indications word from all of the depositors will be at the bank in two or three days. "When we have received the assents the matter will be placed immediately in the hands of State Superintendent Williams, and he will, I know, grant permission to open the doors. He has, together with the Clearing House, approved of the plans."

7. November 7, 1907 Forest City Press Forest City, SD
Article from Forest City Press, November 7, 1907

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“Nearly Over.” The engagement for gold made yesterday, the further large imports which it is believed will be made in the next few weeks, the movement of the crops of America to European markets, and the revival of the demand for copper abroad, will give the United States large credits with foreign bankers and these can be availed in bringing gold, it is confidently believed, to the fullest necessary. It is announced today that several banks have about perfected their plans to reopen for business. President Montgomery, of the Hamilton bank, the Harlem institution, which closed last week, said today: "This bank will resume business in a few days, not later than Monday next, at any event. "I understand also that the Twelfth Ward bank will resume in a few days." The runs on the Trust Company of America and the Lincoln Trust company continued today, but in diminished volume. Announcement of the increase in the rate of discount by the Imperial bank of Germany from 5½ to 6½ per cent. was somewhat unfavorable in the effect on the London stock market. Notwithstanding this, however, American securities in London held firm.

8. November 20, 1907 New-York Tribune New York, NY
Article from New-York Tribune, November 20, 1907

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HAMILTON BANK CHARGES Mr. White, Temporary Receiver, Says He Has Other Complaints. Frank T. White, the temporary receiver for the Hamilton Bank, said yesterday that he had recelved information of wrongdoing in the conduct of the bank's affairs more serious than the usurious loans alleged to have been made by the officers. Mr. White stated that the information concerning the loans had come to him from the State Banking Department, while the other charges had been made in writing by "a reputable man." William R. Montgomery, the president of the bank, when informed of Mr. White's statements, denied them, and said that the receiver was "doing his best to scare off depositors from agreeing to any plan for the resumption of business." Mr. Montgomery stoutly defended the administration of the bank. Mr. White, who will file his bond of $200,000 and take charge of the bank to-day, made the following statement: "These disclosures are of such a character that I am not surprised that Mr. Montgomery is not anxious for a stranger to go into the bank to make an examination of its affairs." Mr. White said that he had received a letter from a lawyer who accused the Hamilton Bank of making large loans to a company which was controlled by the directors of the Hamilton Bank through the medium of dummy directors. His informant, he said, told of a case where a man had borrowed $11,000 from the bank on a piece of property worth only $9,000. Mr. Montgomery last night issued the following statement in denial of Mr. White's charges: Every charge White made is absolutely false. The letter he refers to was written by the director of a banking institution in The Bronx. I know his name. The charge about the "dummy". corporation borrowing money is not true, for it never got any loan from the bank at all. I am perfectly willing to have a thorough investigation of the bank, for I am sure there has been no wrongdoing there. I have not fifiled any action against White for criminal libel, but when he talks in such a manner such action should be taken.

9. December 7, 1907 New-York Tribune New York, NY
Article from New-York Tribune, December 7, 1907

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ABOUT HEINZE LOANS Hamilton Bank Receivers Suggests That Jerome Act. Frank White, temporary receiver of the Hamilton Bank, reported to Attorney General Jackson yesterday that he had discovered records of some extraordinary loans made by the bank to F. Augustus Heinze and Otto C. Heinze, which the receiver suggested demanded the attention of the District Attorney. F. Augustus Heinze was a director of the Hamilton Bank and a member of the loan committee of the institution. The loans made by the Hamilton Bank to the Heinzes, it is said, aggregate about $200,000, or 50 per cent of the bank's combined capital and surplus. The banking law provides that a director may borrow not more than 40 per cent of the capital and surplus secured or 10 per cent unsecured. William R. Montgomery, president of the Hamilton Bank, said last night in reply to Mr. White's statement: "The statement is false and misleading. I again ask on behalf of the depositors of the Hamilton Bank that our solvency be passed upon by the court on December 13 and that our case be not tried in the newspapers. If the Attorney General is sincere in wanting solvent banks to resume business it is unfair to attempt to prejudice public opinion by giving out such absurd interviews. The only object of such, in my opinion, is to discourage the efforts of those who are trying to open the institution. The temporary receiver's duty is directly to the depositors, and it is his duty as well as the duty of the Attorney General not to throw anything in the way of the Hamilton Bank, inas= much as the bank can be opened on a sound basis. "Any man or set of men who throw anything in the way of this, deliberately or intentionally, it would seem to me deserve the attention of the District Attorney, who could not perform a greater public service than by holding them strictly to ac⑉ count."

10. December 19, 1907 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, December 19, 1907

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NEW YORK. The board of estimate took action which held up $122,000,000 worth of public improvements. J. A. C. Wattlington, a rich packer from Bermuda, was arrested on a charge made by his wife. A farmer visiting the stock show gave bonds for a chorus girl who was arrested for shoplifting. The laymen's Evangelistic council arranged to hold revival meetings in 500 Protestant churches in Chicago. Gov. Hughes of New York ousted from office John F. Ahearn, borough president of Manhattan; neglect of duty was the charge. The association of insurance company presidents, in a meeting led by Ex-President Cleveland, scored the new insurance legislation. Mrs. E. Parmelee Prentice, daughter of John D. Rockefeller, on Saturday gave birth to a daughter. This is Mrs. Prentice's second child. The temporary receiver of the Hamilton bank called the attention of the attorney general to loans of $180,000 to F. Augustus Heinze and Otto .C. Heinze. Mrs. William J. Bryan and her youngest daughter, sailed on Saturday on the steamship Friedrich der Grosse for Europe. They will spend the winter abroad. Albert H. Smith, vice president and general manager of New York Central railroad was placed on trial for manslaughter as the result of a wreck. Further reductions in eastbound passenger rates were announced by the North German Lloyd Steamship company. The third class, or steerage rate, from New York to Bremen and the continent on the express steamships has been reduced from $42 to $38. That dancing lowers the standard of morality among Indians is the opinion of the National Indian association, which, at its annual meeting, passed a resolution asking that congress prohibit dancing among the Indians. Other resolutions favored more definite legislation against the sale of liquor to Indians and other minor matters.

11. December 27, 1907 The Evening Star and Newark Advertiser Newark, NJ
Article from The Evening Star and Newark Advertiser, December 27, 1907

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BANK MAY REOPEN. Court Discharges Hamilton's Temporary Receiver. NEW YORK, Dec. 27.-The Hamilton Bank, which suspended during the recent panic, may now reopen for business, according to the decision of Justice Betts. Frank White was appointed temporoary receiver by Judge Betts at Kingston, upon the application of Attorney-General Jackson. Officers and some of the shareholders of the bank contended that the institution should be allowed to continue. In deciding upon the motion to make the receivership permanent Judge Betts ruled in their favor by discharging the receiver. A thousand depositors in the Tremont branch of the bank gathered at the bank last night and later, led by a band and carrying flags, marched a half mile to the home of President William R. Montgomery, in Anthony avenue. Surrounding the home they shouted and cheered until the head of the Hamilton appeared on the stoop and addressed them. In addressing the depositors, Mr. Montgomery said: "I do not owe the Hamilton Bank a dollar. and I have never owed the bank a dollar. I never kept my business account in the Hamilton Bank."

12. December 27, 1907 The Daily Sentinel Grand Junction, CO
Article from The Daily Sentinel, December 27, 1907

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NEW YORK BANK TO BE REOPENED (Special to The Sentinel.) Kingston, N. Y., Dec. 27.-Supreme Court Justice Bedds this afternoon rendered a decision permitting the Hamilton Bank of New York City, now in the hands of a receiver, to reopen.

13. December 27, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, December 27, 1907

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NEW YORK BANK RESERVES Hamilton Bank Permitted to Reopen for Business: Kingston, N. Y., Dec. 26.-Supreme Court Justice Betts this afternoon rendered a decision permitting the Hamilton bank of New York City, now in the hands of a receiver, to reopen. The Hamilton bank, after paying out during the panic $1,500,000, closed its

14. January 14, 1908 The Spokane Press Spokane, WA
Article from The Spokane Press, January 14, 1908

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BANK REOPENS IN NEW YORK NEW YORK, Jan. 14.-The Hamilton bank has been found solvent and it will reopen January 20 with $1,800,000 on hand. The bank suspended during the fluerry.

15. January 14, 1908 East Oregonian : E.O Pendleton, OR
Article from East Oregonian : E.O, January 14, 1908

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Hamilton Bank Will Open. New York, Jan. 14.-Tne Hamilton bank has been found solvent and it will reopen January 20 with $1,800,000 on hand. The bank suspended during the flurry.

16. January 14, 1908 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, January 14, 1908

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Hamilton Bank is Found Solvent. New York, Jan. 14.-The Hamilton bank, which closed its doors during the recent panic, is to reopen for business the latter part of this week or early next week. The report of the special examiners shows that the banks is solvent.

17. January 16, 1908 New-York Tribune New York, NY
Article from New-York Tribune, January 16, 1908

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HAMILTON BANK ARREST INDICTS MONTGOMERY. Special Grand Jury Finds Cause for Charge of Overwithdrawal. R. Montgomery, ex-president on of two the Hamilton William Bank, was indicted jury. yesterday The charges counts by the special grand that, while vice-president. the bank made he against made him two are overdrafts on the funds of caused indictment of Mr. Montgomery followed the The surprise to those who have it closed, on some the Hamilton Bank since of a reeffairs of and went into the hands speOctober 24, iti was known that the celver. for jury while was engaged in investigating affairs, it cial grand phases of the institution's than certain generally believed that other persons would be was ex-president of the Institution Montgomery himthe the bar. In fact, Mr. that him. called self testified to on Tuesday before the body District indicted bank official was at the Howard S The former office with his counsel. presented Attorney's when the indictments appeared were before Gans, him. and soon after of the against Dowling, in the Criminal Branch not guilty. Supreme Justice Court, where he pleaded $2,500 bail on each Justice Dowling held him in H. Birkmire, an counts. William director of of the two at No. 396 Broadway a bondsman. architect, Bank, qualified as Montgomery the Hamilton against Mr. The indictment consisting of him with a misdemeanor $21,000. made on charges overdrafts, one of made September alleged 6. 1907, and another, of $12,950, on October 29. Ham D. Ives. vice-president of the the inFrederick Bank, said yesterday in discussing "The overfiton dictment against Mr. Montgomery: were satisfied made by Mr. Montgomery Bank nothdrafts and he owes the Hamilton merely techby him. overdrafts are considered laws." ing. The violations of the banking nical before the court Mr. Montgomery he de In pleading to withdraw the plea, clerks if ap sired, jury grand obtained within leave a week. Several bank yesterday peared investigation before the special into the affairs of the at Ham- least, The was brought about, partly receiver of fiton Bank of Frank White, the Jackson. in by the institution, report to Attorney General alleged the called attention to certain William which he The report involved O. F. overwithdrawals. Montgomery and also E. R. Thomas, three lat R. and F Augustus Heinze, the official Thomas been forced to sever their Heinze ter having the bank F. Augustus grand relations with indicted by the federal has since connection been with alleged overcertification Na. jury in while president of the Mercantile the time of checks Bank. Mr. Montgomery said public: at tional report was made I and the receiver's never overdrawn my account cent I have owed the Hamilton Bank Attorney a have never directly or indirectly. I defy else the to prove either Frank White or any one my account General have I did not overdraw falseand that any I statements to that effect are absolutely false!" the WHAT RECEIVER REPORTED. Hamilton figures of the receiver of directors during The amounts drawn cut by balances Bank of prior to its closing and their Montgomthe week institution showed that Mr. balance ery-had with the drawn $1,518.67 which left a to his credit of $7 11. further reached the conclusion of The receiver examination of the individual Bank ledger that from an branch of the Hamilten account as the Mr. Tremont Montgomery had overdrawn his much as $34,261 23 indictments The specific charges in the two that on August Mr Montgomery were had it ceragainst a check for $12,950 and Strassburger 29 he drew made payable to B. L amount tified and No. 51 Maiden Lane the of a jeweller at $12,950. constituting an overdraft drew a of Dr. $12,869.77 In question and that on September L. C 6 Warner he for check to the order balance in the bank at the $21,000. when the his check was only $5,918.22. and time he drew days later, when the check had was only prethat sented three to and paid by the bank he $134.72 to his checks. credit it was said yesterday. It were was These two of the Hamilton Bank stock that for shares in the District Attorney's office Willalso said was acting for President Brooklyn Mr. Montgomery Damron, of the Home Bank of Code lam C. punishment provided by the Penal MontgomThe offence charged against Mr. $300. or ary for the is one year in prison or fine of both As Mr. Montgomery is no indictment longer an will official have of the Hamilton on the plans Bank for his the reopening of few the no institution effect and its several branches in a days less than three weeks ago that several the hun- man indicted It is yesterday was honored by which he depositors of the institution of Montgomery dred then the executive head. Mr. depositors was rendered yeoman service to the bank rehad in its effort to have the Justice committee When the news came that granted opened. had discharged the receiver and business Betts for the bank to resume brass band permission hundred depositors hired a Montgomery. several marched to the home of Mr. sereand at No. 1857 Anthony avenue, where they naded him. STATEMENT BY COUNSEL w. Osborne and Howard S. Gans. who James as counsel for Mr. Montgomery they issued are associated a statement last night, in which paid in part: was The fact that attention such of overdrafts the authorities the existed informa by Mr called himself, and but for in all probMontgomery he had offered. would From the tion which never have been discovered Montgomery's ability, the investigation Mr. Attorney's outset of offered to the District possession, and counsel have the information in their means whereby office all then access to every matter. The have given could be thrown on the to avail any light Attorney's office was unwilling indictments District the information, and the must of neitself of all founded, as indictments presentation have cessity been be founded, upon a partial of The the indictments facts. against Mr. violations Montgomery of are the based upon purely There technical are two charges. the made first being S Strassburger banking the law. overdraft in the case of a check The over- of payable to one B. of the negligence draft occurred by reason of the bank who was instructed of the to get the check of one purchase A. The check van. of the employes stock WBR of given the instead Hamilton for the David of Bank. getting Sulli- The Mr of some ager in the bank presented the check of Avot

18. January 25, 1908 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, January 25, 1908

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BRIEF REVIEW OF A WEEK'S EVENTS RECORD OF THE MOST IMPOR. TANT HAPPENINGS IN ITEMIZED FORM. HOME AND FOREIGN NEWS Information Gathered from All Quarters of the Civilized World and Prepared for the Perusal of the Busy Man. Over 165 persons were killed and many injured at Boyertown, The Pa., the opera house burned. of a moving explosion when picture were tank started a wild panic; oil lamps upblew up and the floor collapsed. victims were mostly and belonged to the set children The and women leading and families of the town. The special grand jury which was of sworn in to investigate the conduct rebanks in New York county two indictments certain turned president against of Wil- the liam R. Montgomery. Hamilton bank. A serious earthquake occurred at Gonalves, Hayti. A few houses were and others were damaged. of life has been destroyed No loss reported At their annual meeting in Detroit the Lumber Carriers' Association of the Great Lakes decided that it would be impossible to operate their boats during the coming season at the same expense and under the same condi- is tions as prevailed during 1907. It predicted that there will be a great labor struggle. The Maple-Leaf mills at Kenora, Ont., were destroyed by fire. The elevator, in which was stored over 300.000 bushels of wheat, was also de- instroyed. The loss was $1,000,000; sured. Oil-producing firms at St. Petersburg of received news from the Caucasus the opening of a mammoth oil gusher in the Bibi-Eybat field at Baku, flowing at the rate of 120,000 barrels a day. Farmers in Stanley county. South Dakota, were plowing during the first week in January. The coroner's jury practically exonerated the coal mining company for W. the great disaster at Monongah, Va. Edward Henry Strobel, general adviser of the government of Slam, died after a long illness. The body of Lieut. John W. Crawford, private secretary to Admiral Dewey, was found in the Potomac. The prince regent of Bavaria, who pardoned two to declared his tenced recently death, death murderers-sen warrants. intention not to sign any more of the American were breakfasted ship The fleet officers and by battle- Presi later dent Penna at Petropolis attended a garden party at the American embassy It was positively asserted that Sec would he was virtually retary though Cortelyou Knickerbocker not offered resign Trust the presidency of the company. John S. Peters, one of the jurymen who found R. Meade Shumway guilty of at Beatrice, the penalty, murder death committed drowned Neb., suicide. affixing while Five persons were skating in the Jimtown reservoir, near Connellsville, Pa hall. the girls' dormitory at Oxford, O., was Miami Hepburn university, destroyed by fire. E. D. Scott, cashier, and Roy W. bookkeeper of the Peo- N. bank of ple's Van National Hoesen, Franklinville, with Y., were arrested, charged viola- to the revised statutes relating a of false to the the tion making of statements controller. of greatest bank's Denmark's condition modern poet, Drachmann, died Holger sixty-first suddenly year at of Copenhagen, in the his age. Prof. Charles Baetens, for many years solo cellist in the Thomas or chestra, committed suicide in Omaha, Neb. The City National bank of Muskogee, Okla., purchased by Dr. J. L. Johnson the of St. Louis, was merged with First National. The Bank of Commerce will go into liquidation, its business having been sold to the Oklahoma State bank. Frank Nunno, a wealthy young banker, was found murdered near Ardsley, N. Y. William B. Thompson of De in his troit, Mayor Mich., annual that message, the city calls attention to the fact to deal with the street railquestion that "no new of year way will have and franchise urges in leases another of a !ife be given except on the basis three-cent fare.' General Freight Agent W. E. Estes the Central of Georgia railway was shot by his Ga. The was ac. of perhaps Savannah, fatally shooting wife at cidental. Peter Rasmussen of St. Charles, in., committed suicide because of do mestic and financial troubles. the Rebbi Bernhard Felsenthal, oldeut Jewish theologian in the Unirecognized as the world's Hebrew scholar, ten days cago ted greatest States, after of died illness. in Chi- the He was most widely known as founder of the 'reform' movement ama ag Chicago Jews.

19. March 19, 1908 Daily Capital Journal Salem, OR
Article from Daily Capital Journal, March 19, 1908

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# NEW YORK OFFICIAL ACCUSED New York, March 19. -Attorney-General William Schuyler Jackson has been accused under oath of having demanded that Frank White, as receiver of the Hamilton bank, should share equally with him the aggregate of the fees and commissions earned by Mr. White, while acting in that capacity. The assertion was sworn to by Mr. White, when he was forced to appear as an unwilling witness before the grand jury. This is regarded as one of the most serious accusations yet lodged against the attorney-general's administration. It is understood that White's fees and emoluments amounted to about $1000, and, according to his testimony, after the matter had been adjusted, Jackson called on him in his office, and insisted that White should divide the sum with him.

20. March 20, 1908 The Billings Gazette Billings, MT
Article from The Billings Gazette, March 20, 1908

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attorney general under Attorney General Jackson and appointed by the latter as temporary receiver for the Hamilton bank, October 23 last, and Joseph Ford, formerly private secretary to Mr. Jackson and later receiver for the Mechanics & Traders' bank, were before the grand jury today. Both were questioned by District Attorney Jerome. As to what questions were put to the two men Mr. Jerome, Mr. White and Mr. Ford were equally reticent.

21. March 19, 1911 New-York Tribune New York, NY
Article from New-York Tribune, March 19, 1911

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HYDE WOULD TESTIFY Continued from first page. manipulator and expert in technique." Robin says he himself has always been "the outside man," making a specialty of "canvassing, seeing people and arguing with officials." Robin's "better days' were brought to mind by the display yesterday of an elaborately engraved menu of a dinner given for him early in 1908 by his admirers in the banking world in recognition of his services in pulling the Hamilton Bank through the panic of 1907. Among the subscribers to this dinner, which was held at Delmonico's, were Leroy W. Baldwin, president of the Empire Trust Company; Henry H. Bizallion. president of the Gotham National Bank: James M. Gifford, ex-Senator Clarence Lexow and William P. Youngs. Robin is now. by contrast, the recipient of a flattering offer from a magazine making a specialty of such "features," which wants his story of the whole Carnegle Trust affair.

22. December 9, 1911 New-York Tribune New York, NY
Article from New-York Tribune, December 9, 1911

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Here are some of the services which Mulligan says he and his wife rendered, and for which he asks $20,000: October 25--Promised $20,000 for services of Mr. Mulligan and Mrs. Mulligan in assisting in reopening the bank William R. Montgomery. president of the bank, so agreed in writing. October 31-Conferred with W. R. Montgomery respecting adverse meeting to be held at Amsterdam avenue and 145th street. Visited hall to get size thereof. Conferred with depositors and W. R. Montgomery to formulate plans to stampede the meeting and prevent resolutions for the appointment of a receiver. Time-Day and into the night. November 1-Arranged to have friendly depositors attend the meeting and arranged for speakers. Mrs. Mulligan instructed an interpreter foreman (Italian) that he might drill seventy-five men under him to shout and hurrah for Montgomery for the purpose of attending to stampeding the meeting. which meeting had been called by adverse interests to appoint a receiver. November 2-Arranged for speakers and employed seventy-five persons to attend and stampede the meeting. Rehearsed and drilled gang of men and provided seventyfive men with refreshments and elgars and also paid each man for his services. Paid American foreman and Italian foreman. Conferred with representatives of the press as to news articles. Attended meeting and made speech. Hall was crowded with multitude John P. Leo and Charles H. Tuttle were apparently in charge of the meeting Multitude almost riotous and threatened to mob Mr. and Mrs. Mulligan because of the disturbance in their efforts to prevent the resolution going through and because of the loud cries of their followers, the seventy-five men hired by them. Mrs. Mulligan Turned Tide. Quiet was obtained actually until Mrs. Mulligan's speech was made. wherein she stated that she had never made a public speech before, but that she felt the occa. sion required and permitted her to leave a nursing baby at home to face the awful rainstorm that prevailed that night Mrs. Mulligan stated that she represented as executrix orphan children who had moneys in the Hamilton Bank, and that Mr. Mulligan had money in the Twelfth Ward Bank, which was then closed: how could shoes be bought, how could fires be kept and how could orphans be fed for the winter that was then before us if the Hamilton Bank was permitted to go into the hands of a receiver? Mrs. Mulligan's speech turned the tide and won the day. The motion for a permanent receiver was lost. November 8-Mr. Mulligan talked to depositors and Mrs. Mulligan talked to depositors. One of the group she was addressing attempted to discourage the other agreeand depositors ment) the officers from used of the signing abusive bank (a compelling language proposed about Mrs. Mulligan to forcibly eject such intruder and compel him to flee down the street. December 26-Telegram from James A. Betts to Mrs. Mulligan reading: "Injunetion vacated. Temporary receiver discharged. Bank permitted to reopen.' Upon receipt of this telegram hung original, framed in laurel, in the Tremont branch of the Hamilton Bank Hung a copy. with laurel wreath, in main office room in each of the branches.