First National Bank (Helena, MT)

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Episode Information

Episode UID
164901123
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
16490 national
Charter Number
1649
Start Date
July 27, 1893
Location
Helena, Montana (46.593, -112.036)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d11f3a1fa0eed072

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected, Partial suspension, Full suspension, Books examined

Receivership Details

Depositor recovery rate
39.0%
Date receivership started
1896-09-11
Date receivership terminated
1903-06-17
OCC cause of failure
Losses
Share of assets assessed as good
49.5%
Share of assets assessed as doubtful
39.3%
Share of assets assessed as worthless
11.1%

Description

Bank suspended/closed in July 1893, reopened in Jan 1894 and consolidated, then finally failed/receivered in Sept 1896.

Events (8)
1. April 5, 1866 Chartered
Source
historical_nic
2. July 27, 1893 Run
Cause
Macro News
Cause Details
Financial panic of summer 1893 prompted heavy withdrawals and runs on Helena banks.
Measures
Closed/failed to open; unable to realize assets quickly to meet withdrawals.
Newspaper Excerpt
The First National and Montana National banks, failed to open this morning and a run is now in progress on the other banks of the city.
Source
newspapers
3. July 27, 1893 Suspension
Cause
Macro News
Cause Details
Closed at start of run during the 1893 financial panic; had ample assets but could not realize quickly.
Newspaper Excerpt
The First National and Montana National banks failed to open this morning.
Source
newspapers
4. January 27, 1894 Reopening
Newspaper Excerpt
The First National bank ... opened to-day with a million dollars in the safe.
Source
newspapers
5. December 6, 1894 Other
Newspaper Excerpt
The First National and the Helena National banks have been consolidated and the new bank will take the name of the First. ... It reopened under an agreement with the depositors to take deferred certificates.
Source
newspapers
6. September 1, 1896* Receivership
Newspaper Excerpt
A notice ... was signed by E. D. Edgerton, vice president and manager ... Vice President Edgerton says depositors will be paid in full.
Source
newspapers
7. September 4, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Unable to realize on assets to cover demands of eastern creditors; heavy concentrated withdrawals.
Newspaper Excerpt
The failure of the First National Bank of this city was announced this morning by the posting of a notice that the bank was unable to meet the withdrawals demanded of it.
Source
newspapers
8. September 11, 1896 Receivership
Source
historical_nic

Newspaper Articles (23)
1. July 27, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 27, 1893

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Article Text

Two More Banks Flicker. HELENA, Mont., July 27.-The First National and Montana National banks, failed to open this morning and a run is now in progress on the other banks of the city. At 11 o'clock this morning the run is now confined principally to the Merchants' National bank, which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but it cannot be realized. S. T. Houser is president of the First National; capital stock is $500,000; surplus, $100,000; undivided profits, $600,000, and average deposits, $3,250,000. John T. Murphy is president of the Montana National bank; capital stock is $500,000; surplus $100,000; undivided profits $100,000 and average deposits $1,500.000.

2. July 28, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 28, 1893

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Article Text

HELENA BANKS. The First National and Montana National Close Their Doors. HELENA, Mont., July 27.-The First National and Montana National banks failed this morning. A run is in progress on the other banks. The run is now confined principally to the Merchant's National, which claims to be able to stand. The closed banks have ample assets but could not realize. S. Houser is president of the First National, capital stock, $500,000; surplus, $100,000; undivided profits, $600,000; and average deposits $3,250,000. John T. Murphy is president of the Montana National. It has a capital stock of $500,000; surplus $100,000, undivided profits $100,000; average deposits $1,500,COO. It is claimed the assets are $1,300,000; liabilities $000,000. Officers say eventually they will pay in full. The First National paid out over $1,000,000 the past week and the Montana paid out nearly $500,000. The other banks are standing the run well, the heaviest is on the Merchants National but big depositors came to the rescue and deposited faster than it was paid out, and the excitement is subsiding. The failed banks are among the oldest and strongest in the city. Both had ample assets but could not realize fast enough. C. W. Camon, 0. M. Halter and S. C. Ashley, all leading capitalists, have made personal assignments.

3. July 29, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 29, 1893

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ALONG THE LINES. First Assistant General Freight Agent Pierce, of the Omaha road, is in Duluth. J. M. Page, formerly general passenger agent of the Milwaukee road, left last evening for the Pacific coast on the Northern Pacific. Traveling Freight Agent Painter, of the Omaha road, returned yesterday from a trip on the Western division of the road. He says the crops on the lines are in excellent condition. John Hickey, superintendent of motive power and rolling stock of the Northern Pacific, has been appointed on the world's fair jury of awards for the transportation department. Among those who left St. Paul yesterday over the Wisconsin Central road for various localities were: P. B. Groat, L. K. Merrill, Mr. Denny, George Smith, Mr. Spencer and Mr. Carolon. Among those who left St. Paul yesterday on the Milwaukee road for various points were: P. Scheffer, H. P. Curtis, P. Sloan, C. Dietz, J. H. Gaus, B. Anable. A. Dotz, George B. Clason and P. McFadden. The Great Northern will run a special train to Minnetonka Beach this afternoon to accommodate persons who wish to attend the boat races. Train will leave St. Paul at 3 o'clock, Minneapolis at 3:25, returning at close of races. Among those who left St. Paul yesterday for various parts of the country, via the Soo line, were David A. Gregg, bound for Mackinac, and G. M. Read, wife and two children, on their way to the Soo and various points in Canada. A. B. Ewing, C. D. McClure and P. H. Furz, prominent capitalists of St. Louis, who have been in Montana some weeks looking over heavy mining interests, arrived in St. Paul yesterday, and left for St. Louis over the Albert Lea route. Second Assistant General Passenger Agent Austin, of the Northern Pacific, returned from Chicago yesterday. He remarks that he believes the stiff prices charged by the Chicago and world's fair hotels are more responsible for the light attendance at the world's fair than the railroads. Ex-Gov. S. T. Hauser. of Montana. president of the First National Bank of Helena, suspended, will arrive in St. Paul from New York this morning, and be accompanied to Helena by Nathanial Langford, national bank examiner. It IS supposed that Mr. Langford goes to investigate the cause of the collapse. Advertising Agent Warnock, of the Omaha road, has made a happy hit in his pamphlet upon Chicago and the world's fair. Weeks back he has been receiving letters from all parts of the world asking for copies of it. Yesterday he received a letter from Decan, India, and another from the most remote of the Philippine islands. Some of the dispatches published in the daily papers seem to have conveyed the impression that the new rate of $13.50 for the round trip from the Twin Cities to Chicago and the single rate of $7 are put III by the Western Passenger association for only thirty days. These rates are put in to last from Aug. 1 to Oct. 15, but the limit on the round trip ticket is thirty days.

4. January 27, 1894 The Helena Independent Helena, MT
Article from The Helena Independent, January 27, 1894

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THE FIRST NATIONAL. Batte Inter Mountain. Beore one for the state capital. The First National bank. which was closed down by the democratic paule of last summer, opened to-day with a million dollars in the safe. We congratulate all the people of Helena, all the bank officers, all the depositors and particularly Sam Hanser. This should be a red letter day with Sam and he should celebrate it by joining the republican party and getting in line with the intelligence, patriotism and Christianity of the age.

5. January 28, 1894 The Helena Independent Helena, MT
Article from The Helena Independent, January 28, 1894

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pus required M&J @ 10 ways uodn armed with all 80 ts of tin implements and refreshments to help them celebrate their tenth wedding anniversary. Mr. and Mrs. S. T. Hauser entertained -111 pas Addeq AIGA # u; Aupuoy -quieu stem 30 sequire 03:00 17 AUM 10 bore and friends in honor of the reopening of the First National bank It was universally admitted that a more auspicious OCCAI eq: pus persons #GAGE paq nots up USA Mrs. Ester mes with what might have 2 been a serious accident Wednesday. She was in her buggy 00 Main street, when her horse became frightened and started to run. overturning the buggy. Mrs. Ester BUOINGS ou subsided 1nq 100 throma SUM peditions BUM barde em pos doing any damage. Anothe musical organization, which is a 2 members. 811 01 quest 10 992308 has been formed, and their friends expect -UBI 13 #1 41 enter 110m eq 01 dolin club. and the members are Mesdames Foote. C. Kleinschmidt, Webster: Misses Cuthbert, May Outhbert, Norma Kleinuqof puw spreados A "sheet and pillow case" party was Butues Prider 11"9 swepy su used under the suspices of the Columbian club, ssour eus 10 ono peounousd RUM " pus euccessful dances given by this elub since its organization By special request, the puv B 0118 04 10 pap anq quio 'I I "xoH cousp nords The Ladies' Whist club was entertained last Friday afternoon bv Mrs. Esler. The up pus peAuld GI@M spunos [enen the n st p ize being won by Mrs. Chadwick. peing 4114 'quip ohings emospure D RVM #! SUM state estate @ 'proors "4" !seSpe won by Mrs. Pe kins. Three guests were present at this occasion: Meadames Lockrequest sin puu ann pus poom Mrs. Laura E. Howey has received from the secretary of the board of lady managera of the World's Columbian commission, 9qs Autsodmos Indiana on as # state board of Montana are thanked for the valuable aid given by them for the adeq: 01 MIOM their pus пошом 10 -xo #1 edoq eug pus aus UTA esequ 1999 pessesd -do em entire pas eq7 JO "HOMOM 811 10 The usual number of ople from out of capital eye os $1814 shield pied BAWN UMOS for motives of business or pleasure. Among Change 'f' 'S 'f "If :010A meqs ** T M H 's 'f 'V 'U!A Cormick, J. W. Forbis and Frank Show's "V education a "I I tenting 10 11º '@2@ 'D 'O 'SunoA 'M '(I 'IIIH я H Shores Cooper, W. D. Duffin. W. M. Atkinson, J. L. Harris, O. Balow. C. Smith and E. B. Largent, all of Great Falls. At a general teachers' meeting, held at the hign school Friday, Prof. Young gave redord eq: nodn sx was stems emos peounous puw 'smoos looqes our 10 But Pujing plea eq 01 meetings 10 seqs the rest of the term the teachers would sequire B 01 10 Printed eqs basq of speakers. Drs. Cole, M. Dean and Pleasbase oqa 'Peem '(I 'II "пон pus squa -WA uo in teachers em seeppe 01 conselted [10$0] peonnous eq 01 subjects shojs The regular meeting of the Young Peo. ple's Loca! union was held on Thursday evening, Jan. 23. in the Baptist chuch, cor20; 'enueAu 419813 pus 100:45 uer "M seu the purpose of electing officers for the en-uy pus compunents ear monthly X18 Jujus terest were good, those D esent seeming 101 quesed eqs 10 enjes ens 01 all -103 se resetted Buyon PLL effective lows: President, Fred C. Crounse: secretary, Miss Nellie Sherson; treasuler, W. B. Cook Quite A number of people from Helena and visinity have gone to California within -PIN eqs puesse 01 emos 'sAup mos 1681 our me; B pueds 0$ others pas 1101 -ay FORT 10 children balam eq: us oquali geles. The deptrtures over the Northern 's Я Potter, W M sv 0.8 Paside Chapin, H. B. Palmer, John McGian, Wm. Ines, W. D. Howard, Mary E. Lincola, J. pus and "H 'V 'f 'I 'D '°°W 'IV wife, Wm. Mayger and wife. of Marysville; James Thomasand family and J. M. Miles. Last Thursday Miss Rath Bradley gave request seq Jo emos 01 Assed us Those present were: Mand Delbitt, Jo and Berta Thaler, Flora Williams, Walter and Ervin Williams, Annie Hoffman. Annie Hepner, the Misses Hoffman and others. all schoolmates. The occasion. her teath -oad ons sq SUM 'Supel 19 sentation of many presents. The pleasures of the gathering will not be forgetten by those resent, for they enjoyed a splen"}sades pip A very pleasant party was entertained by the Misses Hoag, at their home on Beattie street, on Saturday afternoon, the game played being whist, The partners were chosen by bouquets of natural flowers, -02 eq.f. pays AIGAO Jo om? Majeq exems ssous exem -I!M pus securpsor 0:0M quesord liams: Misses Parkinson, Bail Parkinson, Milis. Rumsey. Gannon. Howell, Botkin, Goodwin. Johnson, Matheson, Marie Kleinschmidt and Spratt. On Monday evening at the residence of Thos 219 Mapling T. 'V "W pua "PHA **** pus Ration D 'IV Adams were married by Rev. J. Wesley -1201 mej V pus requires our "1"O IIIH mate friends were present. After the cereeys III place 100$ 'SHOW decorated parlor, the company enjoyed an ens 01 19181 pas !reddus Suppem queNete evening. with the heartiest cong atulations, Mr. and Mrs. Karter went to their "IN 100.00 Aenoy 302 'emoq UMO Karter had provided for his bride.

6. February 2, 1894 Shenandoah Herald Woodstock, VA
Article from Shenandoah Herald, February 2, 1894

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South and West. ALL the banks of Helena, Montara, which closed during the financial panic 11st summer are new open. The First National Bank of Helena during the first day received deposits aggregating $200,000. A BLIZZARD raged in Kansas and other Western States. MRS. ANNA LINDGREN was crushed to death at Chicago, Ill., while struggling for bread at a relief station. Her husband was too weak to go into the crowd and her children were starving. A BAND of train robbers was captured by police in the Indian Territory ; one of the gang was killed and another mortally wounded. THE Mirz and Daniels brothers fought to the death in Arkansas. of the four three were killed. MR. AND MRS. GUSTAVE P. TYSON and Miss Minnie Chapman, teachers in the Sac and Fox Indian School. at Guthrie, Oklahoma, were drowned while attempting to ford Deep Fork Creek. FIFTY conviets confined in the branch State prison at Coal Creek. Tenn., escaped by crawling through the bars of the water gate leading into the stockade. Two earthquake shocks were felt in Annapolis, Md. By a Supreme Court decision in Minnesota 500 inmates of insane asylums may be released,

7. December 7, 1894 The Herald Los Angeles, CA
Article from The Herald, December 7, 1894

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CONSOLID ATED BANKS. First National Bank of Helena and HelODB National United. HELENA, Mont., Dec. 6. - The First National and the Helena National banka have been consolidated and the new bank will take the name of the First. The First is the great bank that has given Montana renown in the financial world. but the panic caught it and for a faw weeks it was closed. It reopened under an agreement with the depositors to take deferred certificates. Under the terms of the consolidation of the First National bank, the stock will be $800,000 and the undivided profits $200,000. The general balance of the new institution will be very little short of $5,000,000. Ex-Governor Hauser will continue to be president; Hon. E. D. Edgerton will be general manager, and George F. Cope cashier.

8. December 7, 1894 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, December 7, 1894

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A Strong Consolidation. HELENA, Mont., Dec. 7.-The First National and the Helena National banks have been consolidated and the new bank will be known as the First National. The First is the great bank that has given Montana renown in the financial world, but the panic caught it and for a few weeks it was closed. It reopened under agreement with depositors to take deferred certificates. Under the terms of the consolidation the capital stock of the First National will be $8 0.000 and the undivided profits $200,000. The general balance of the new institution will be very little short of $5,000,000. Ex-Governor Hauser will continue to be president, Hon. D. Edgerton will be vice president and general manager and Geo. F. Cooper cashier.

9. September 5, 1896 The Morning News Savannah, GA
Article from The Morning News, September 5, 1896

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Helena, Mont., Sept. 4.-The failure of the First National Bank of this city was announced this morning by the posting of a notice that the bank was unable to meet the withdrawals demanded of it. The notice was signed by E. D. Edgerton, vice president and manager, who says creditors will be paid in full. The directors refuse to talk and no statement of assets and liabilities has been made. It is said the failure is due to the banks inability to realize on assets to cover demands of eastern creditors. Heavy demands have been made on the bank for for the past week, it is said, and coming so close together caused trouble. The bank's capital and surplus is $1,000,000 and it is the United States depository with large United States funds on hand. Its officers are S. T. Hauser, president; E. D. Edgerton, vice president and general manager, and George Hill, assistant cashier. Its directors are among the strongest men in Helena. The failure was not a surprise to all, for it was current talk on the streets last night that it would not open to-day. The officials had tried to suppress the rumors, hoping that the bank might open, and if it did they wanted to avoid a run. The A. J. Davis estate, famous for the litigation over the millions left by Davis, owns 55 per cent. of the capital, and it was claimed here last night young A. J. Davis, whose possession of the stock, was a few weeks ago allowed by the claimants after a long fight, was coming from Butte with the cash to tide the bank over. Davis came, but the bank did not open. Vice President Edgerton says depositors will be paid in full. The failure of the bank caused no panic, the other banks being in good conditon. The First National failed in 1893.

10. September 5, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, September 5, 1896

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Fai ure of a Helena B nk. Helena, Mont., Sept. 4.-The failure of the First National bank was announced this morning by posting a notice in the window that the bank was unable to meet the withdrawals demanded of it. The notice was signed by E. D. Edgerton, vice president and manager, who says that creditors will be paid in full. The directors refuse to talk, and no statement of assets and liabilities has been made. It is said the failure is due to the bank's inability to realize on assets to cover the demands of Eastern creditors. Heavy demands have been made on the bank during the past week, and all coming so close together caused the trouble. Vice President Egarton said this evening that without doubt the assets would more than pay the depositors in full and leave something for the stockholders. The last statement published showed that at the close of business July 14 there was due to other banks, depositors and on checks outstanding a total of $3,500,000; loans and discounts, $2,500,000; stocks and securities, $780,000; real estate, $300,000; due from other banks and reserve agents, $680,000. There were no signs today of a run on any other banks.

11. September 5, 1896 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, September 5, 1896

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BRIEF BITS OF NEWS. England is accused of fomenting the Turkish troubles. W. H. and J. H. Moore resigned their positions with the Diamond Match company. Miss Laura Millson, a niece of W. J. Bryan, figured in an elopement from Salem, Ills. There will be an agricultural exposition at Kief, Russia, from July to October next year. The Knights af Pythias decided that the next meeting will be at Indianapolis on the fourth Tuesday in August, 1897. General Count von Schouvaloff, gov. ernor general of Russian Poland, who has been suffering from a paralytic stroke, is improving. The Columbus (O.) Central street railway company has been placed in the hands of a receiver. George H. Worthington of Cleveland being appointed. The ezar and czarina have started for Breslau, where they will meet Emperor William of Germany and witness a portion of the military manoeuvers. The failure of the First National Bank of Helena was announced by the posting of a notice that the bank was unable to meet withdrawals demanded of it. Creditors will be paid in full. The Mexican government is making an effort to extradite Santa Teresa, the maiden "healer," her father and Senor Aguirro, editor of a Mexican paper at El Paso, Tex., which recently criticized President Diaz and his administration very severely. United States District Judge Foster has appointed a receiver for the J. B. Watkins Land and Mortgage Company of Lawrence, Kan., the largest :concern of the kind in the state. The liabilities amount to $4,250,000 in debenture bonds held in the East.

12. September 5, 1896 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 5, 1896

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TWO HEAVY FAILURES FIRST NATIONAL BANK OF HELENA, MONT., FORCED TO CLOSE. Receivers for the J. B. Watkins Land and Mortgage Company, of Kansas-Liabilities, $4,250,000. HELENA, Sept. 4.-The failure of the First National Bank of this city was announced this morning by the posting of a notice that the bank was unable to meet withdrawals demanded of it. The notice was signed by E. D. Edgerton, vice president and manager, who says creditors will be paid in full. The directors refuse to talk and no statement of assets and liabilities has been made. It is said the failure is due to the bank's inability to realize on assets to cover demands of Eastern creditors. Heavy demands have been made on the bank for the past week, it is said, and, coming so close together, caused trouble. The bank's capital is $1,000,000, and it is the United States depository, with large United States funds on hand. Its officers are: S. T. Hauser, president; E. D. Edgerton, vice president and manager, and Geo. Hill, assistant cashier. Its directors are among the strongest men in Helena. The A. J. Davis estate, famous for the litigation over the millions left by Davis, owns 55 per cent. of the capital, and it was claimed here last night that young A. J. Davis, whose possession of the stock was a few weeks ago allowed by the claimants after a long fight, was coming over from Butte with the cash to tide the bank over. Davis came, but the bank did not open. Vice President Edgerton says depositors will be paid in full. The failure of the bank caused no panic, the other banks being in good condition. The bank failed in 1893.

13. September 5, 1896 Birmingham State Herald Birmingham, AL
Article from Birmingham State Herald, September 5, 1896

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EASTERN CREDITORS PUSHED IT. Failure of the First National Bank of Helena Was Expected. Helena, Mont., Sept. 4.-The failure of the First National bank of this city was announced this morning by the posting of a notice that the bank was unable to meet withdrawals demanded of it. The notice was signed by E. D. Edgerton, vice president and manager, who says creditors will be paid in full. The directors refuse to talk and no statement of assets and liabilities has been made. It is said the failure is due to the bank's inability to realize its assets to cover demands of eastern creditors. The bank's capital and surplus is $1.000,000, and it is the United States depository, with large United States funds on hand. Its officers are T. Hauser, president; E. D. Edgerton, vice president and general manager, and George Hill, assistant cashier. Its directors are among the strongest men in Helena. The failure was not a surprise to all, for it was current talk on the streets last night that it would not open today. The A. J. Davis estate, famous for the litigation over the millions left by Davis, owns 55 per cent of the capital, and it was claimed here last night that young Davis, whose possession of the stock was a few weeks ago allowed by the claimants after a long fight, was coming from Butte with the cash to tide the bank over. Davis came, but the bank did not open.

14. September 15, 1896 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, September 15, 1896

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RECEIPTS OF PRODUCE. FOR 24 HOURS. Flour, gr sks Butter. ctls 139 28,982 Oregon 6 3,552 Cheese, ctls Wheat, etls 157,413 Eggs: doz 14,520 Oregon 619 Hides, no 1,380 Barley, ctls 565 Pelts, bdis 18,562 Beans. sks 1.418 35,400 Wine, gals Oats, ctls 180 1,320 Wool, bis Oregon 585 444 Sugar, bbls Corn, Neb, ctls 20 1,510 Lumber, M feet. Potatoes. sks 116 5,554 Quicksilver, fisks Onions, sks 19 970 Leather, rolls Bran. sks 120 85 Lime, bbls Middlings, sks. 196 841 Alfalfa Seed, sks Hay, tons 1,000 2,000 Paper, reams PACIFIC COAST BONDS. The assessment against the stock of the Merchants' National Bank of Seattle has been canceled under a ruling of Judge Langley, in the Superior Court, and the county officers are restrained from attempting to collect it. The case is entitled Charles H. Baker, as receiver, against the County of Kings. From the complaint it appears that the Assessor added together the amount of the capital stock at its par value, the amount of the nominal surplus and undivided profit, making $227,000 in all, and then deducted from that amount real estate valued at $111,400, leaving a balance of $115,600. Following out this system of fixing valuations the Assessor finally assessed the bank for $69,360, against which the bank has been fighting. The Board of Equalization upheld the asessment on appeal, and the bank thereupon appealed to the Superior Court and won its case. L. P. Mathews, a citizen of Nebraska, has begun suit against Philip Tillinghast, as receiver of the Columbia National Bank, to restrain him from beginning any suit against the stockholders of the increased capital stock of the Columbia National Bank; also to require him to expunge the credit of the city of Tacoma to the amount $112,000. An injunction has been granted by Judge Gilbert, which holds good until to-day (the 15th inst.), on the representation that the receiver was about to declare a dividend, to the injury of the p. aintiff. Concerning the claim of the city of Tacoma, it is alleged that it is not valid or legal as against the banking association. which is in no manner indebted to the city, but that, on the contrary, the city is indebted to the bank in the sum of about $8000. This claim involves the history of the defalcation of G. W. Boggs, formerly Treasurer of the city of Tacoma, who deposited in the bank unpaid warrants of said city, supposedly, but which it was afterward demonstrated were worthless, they having actually been paid. The bank shows a credit of $104,000 in favor of the city, which if expunged would leave a balance of $800 in favor of the bank. The Tacoma savings Bank and Trust Company, the State Savings Bank and the German-American Bank have also filed suits of similar tenor against THiinghast as receiver. City Attorney Judson is of opinion that the Mathews suit will determine the validity of the outstanding warrants of the city, which it is now proposed to refund. The Helena (Mont.) Independent furnishes many particulars concerning the failure of the First National Bank of Helena, and says it was not wholly unexpected. Heavy withdrawals by

15. September 16, 1896 The Ravalli Republican Stevensville, Hamilton, MT
Article from The Ravalli Republican, September 16, 1896

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In a Receiver's Hands. Helen, Sept. 10.-Judge Buck today, on the petition of James T. Pronger, appointed Wm. T. Bickett of this city receiver of the Marvsville bank, which suspended as soon as the failure of the First National bank at Helena was announced. The bank was owned by the petitioner and E. 1). Edgerton and John Edgerton@who formed a copartnership in 1893. It was closely allied with the First National and its failure was due entirely to the suspension of of the latter. The liabilities of the bank are about $39,000 and the asThe bank sets an equal amount. began business on a set of books without capital..

16. October 27, 1896 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, October 27, 1896

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HELENA BANKS. A Startling Rumor That Many of Them Were on the Verge of Collapse Is Denied. (Special to The Herald.) BUTTE, Mont., Oct. 26.-The startling rumor that several additional banks in Helena were on the verge of collapse was circulated in business circles today, but the following special received in Butte this evening indicates that the runs on the banks is not so serious as reported: "The run on the Merchants' Nationl bank, which began last week, has almost abated, and the institution is meeting every demand, and claims it will hold out till every depositor is paid in full. The Montana National had a little run for a day or two, but as the depositors soon found out it was invulnerable, and had more money than depositors could possibly call for, they soon got tired and quit. The trouble all grew out of the distrust created by the failure of the First National of Helena, and the methods of the management of that institution. It advertised to pay interest and accented deposits from all over Montana, and as far off as Minnesota, and when it had corralled all the loose money it could expect, it failed because the Northern Pacific drew out a paltry $60,000. "One man in Beaverhead county had $60,000, every dollar he had on earth, deposited in that institution.

17. January 12, 1897 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, January 12, 1897

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TRIAL OF BANKERS IT MAY NOT TAKE PLACE BEFORE SPRING. Judge Knowles Does Not Want to Preside, and It's Difficult to Get "Sub." Special Dispatch to the Standard Helena, Jan. 11.-There is a prospect that the trials of Vice President and Manager and Receiver Edgerton of the late First National bank, and of Former Director E. D. Beattle and Late Assistant Cashier George H. Hill of the same Institution, will not take place until late in the year. and, indeed. that the hearing of the motion to quash the indictments against them recently interposed and set for hearing to-day may not come out until late in the spring. The probability that there will be a delay was made apparent yesterday when Judge Knowles announced that the case had been "passed generally. Judge Knowles said to-day that there was some prospect that Judge Bellinger of the Oregon district would be the man to proside when the hearing was had. Judge Beattle of Idaho, who was asked by Judge Knowies to preside, did not want to come, and Judge Gilbert, who presides over the Ninth circuit, and who could assign any judge in the circuit to the duty, said that he had made gome effort to persuade Judge Beattle to come. but unsuccessfully. It is said that Judge Beattle lost a large sum in a bank failure and feels deeply on that subject Judge Beliinger. Judge Gilbert wrote, would be required to go to San Francisco on duty at the hearing of the circuit court of appeals and be did not believe be would be able to come to Helena before some time in March or April So. unless Judge Beattle changes his determination there is a prospect of a long delay ahead in the bank eases. Judge Knowles' reasons for not dealting to officiate are his connection with the First National bank of Butte, of which he is president and which had intimate relations with the First National bank of Helena.

18. February 19, 1897 Shoshone Journal Shoshone, ID
Article from Shoshone Journal, February 19, 1897

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Salt Lake City, Feb. 15.-A special to the Salt Lake Tribune from Helena, Mont., says: The suspension of the Merchants National bank on Saturday the 13th Inst., may bring about a public Investigation to Inquire more closely Into the factsleading up to the failure. This Inquiry will not be by process of law, but by Indignant citizens. With the exception of a certain class, the fallure of L. H. Hershheld banks is looked upon as one of the reatest outrages perpetrated on the citizens of this State. Ever since the First National bank of this city falled, rumors have been current not only In this city but throughout the State that the Merchants' was unsound. The First National failed six months ago, and these rumors have not been allowed to die in the meantime. The result was that money was continu. ally withdrawn by the effect of the rumors and by persuamon, until the time came when Mr. Hershneld was compelled to close to save his depositors, who will get 100 cents on the dollar. President Marlowe of the Montana National bank of this city says the Merchants' bank is perfectly sound and need not have shut down had It been left alone for a week or two and been given an opportunity to realize on its assets, The fact that It stood a run for six months shows that It was sound In the first place. The citizens of Helena are Incensed that some of its citizens would circulate rumbers and be so persistent in this as to break a bank. When once the t investigation is started, no stone will be unturned to find out who started the rumors, and to punish the origin tors. t

19. May 27, 1897 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, May 27, 1897

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# The Hope Mine in Montana. Lee J. Pitner, president of the Hope Mining company, was in the city this week, says the Butte Miner. He said: "The Hope mine, which is one of the best mining propositions in the state of Montana, has again been flooded, the pumps having been pulled by orders of the receiver for the First National bank in Helena. The bank now holds the property on a mortgage foreclosure, and of course not intending to operate it the expense of keeping it pumped out was not allowed to go on. The mine cost $96,000 in cash in six months while it was being operated by P. A. H. Franklin. Mr. Franklin was not a mining man, and did not know anything at all about the business. I am now endeavoring to get possession of the property for the benefit of the stockholders, and if I succeed we will have money to pay off all the indebtedness of the company and go ahead and successfully operate the mine. The property is a good one, and it has always been handicapped with very bad management. I am hopeful of seeing the property successfully operated again soon.

20. June 25, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, June 25, 1897

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# MONTANA. The Park Opera House at Livingston was destroyed by fire last Tuesday. Sun river, near Great Falls, was visited by a cloud burst last Tuesday. The Sun river dairy was badly damaged and the Montana Central track was washed out in six places. The Sun river rose three feet in an hour. J. Hugh Adams, a switchman in the Misscula yards was run over and instantly killed last Tuesday. William R. Gallagher was badly injured by a fall of ground in the St. Lawrence mine at Butte Tuesday morning. Several of his ribs were broken and he also sustained some severe internal injuries, but it is thought that he will recover. The Helena Independent changed hands last Tuesday. It was one of the assets of the suspended First National bank and was offered for sale several months ago. The purchasers are eastern parties, but their names are not given out. The Independent has been an ably conducted free coinage paper and it is feared that it has fallen into the hands of gold bugs. The Helena city council knocked the gold clause out of a proposed bond issue and inserted "lawful money." The councilmen are determined that no bonds payable in gold shall be issued.

21. July 5, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 5, 1897

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MONTANA. The district court at Great Falls has decided that sheriffs may charge mileage at the rate of 10 cents per mile for transporting insane persons to the asylum. Fred McKay, a hostler in the employ of the Northern Pacific at Wallace, fell under an engine and lost a leg. The management of the Montana railroad has decided to put on a daily train service. Harvey Barbour of Helena has brought suit against Andrew J. Davis of the First National bank of Butte for 5,365 shares of stock in the Helena and Frisco Mining company, valued at a total of $53,650, and for a receiver's receipt issued by the receiver of the First National bank of Helena, valued at $1,475. He claims that they are his personal property, that Davis took them in trust for him, and refuses to give them up. Captain John McCornick of Butte had a narrow escape from suffocation early last Friday morning. The wardrobe in his room was all ablaze when he awoke and in a few minutes more he would have been cremated.

22. July 9, 1897 Shoshone Journal Shoshone, ID
Article from Shoshone Journal, July 9, 1897

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# NORTHWEST NOTES. Pioneer B. F. Leete, of Reno, Nevada is dead. William J. McConnell of Idaho has been nominated for Indian inspector. The management of the Montana railroad has decided to put on a daily train service. The Helena Water company threatens to shut off the city's water unless back accounts are settled up. Fred McKay, a hostler in the employ of the Northern Pacific at Wallace, fell under an ergine and lost a leg. Vaso Bielich, a miner employed at the Oriental mine at Butte was caught betwen the cage and timber and instantly killed. Cattlemen say there will not be the increase of stock this year that was expected. The continued spring rains killed many of the young calves. Santos Lugo, the notorious horse-thief, who has stolen over 1,000 horses during his career of outlawry, has been captured in California, and taken to Hanford. The district court at Great Falls, Mont., has decided that sheriffs may charge mileage at the rate of 10 cents a mile for transporting insane persons to the asylum. Frank Benton, one of the most prominent cattlemen of Wyoming, recently bought 9,000 head of cattle, 6,500 of which will be fattened on Wyoming ranges. Judge Allen at Denver has granted an order permitting Frank C. Young, assignee of Maxey Tabor, to join with the co-owners in leasing the Montgomery mine at Leadville. The assignee was also authorized to pay the delinquent taxes of 1894-5-6. The discovery of coal about four miles southeast of Garlock, Nevada, is raising an excitement in that region. The discoveror has bonded a mine for $15,000. The coal is bituminous, and of good quality. Plans are being consummated for the erection of a smelter in which the coal is to be used. The tide of immigration which set in early in the spring towards Big Horn county, Wyoming, is increasing in volume as the summer months advance. Every day in the week at present sees several prairie schooners wending their way throug the valleys hauling home-seekers, most of whom are well equipped for making a good start in a new country. Through the carelessness of herders four bands of sheep belonging to the Platte Valley Sheep company, Patterson & Stanley and McDermott & Moran, became mixed on the range near Douglass, Wyoming. The sheep number about 10,000, are unmarked and about half of them are lambs, making the mix-up a very serious matter for the owners. The United States land office at Helena is after a number of prominent persons in Flathead county on the charge of making fraudulent proofs on land. Already it is said that three citations, which are practically warrants, have been issued, and parties have been summoned to Helena to explain. The charges, it is said, include that of perjury and will be filed, in all, against about fifteen persons. Harvey Barbour of Helena has brought suit against Andrew J. Davis of the First National bank of Butte for 5.365 shares of stock in the Helena and Frisco mining company, valued at a total of $53,650, and for a receiver's receipt issued by the receiver of the First National bank of Helena, valued at $1,475. He claims that they are his personal property, that Davis took them in trust for him, and refuses to give them up. Mrs. W. D. Coppernall, wife of a prominent attorney at Belt, Mont., arrived at Great Falls the other night and solicited aid to get to Helena before her husband should overtake her. She came into the city on a coal train and was endeavoeing to hide until she could raise the money to get away. Mrs. Coppernall tells a story of abject cruelty and stated that she was compelled to flee from her home to escape bodily harm. She was furnished aid to continue her journey. Achille F. Migeon and Franklin Farrell have filed a suit in the United

23. February 15, 1898 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, February 15, 1898

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# Circuit Court of Appeals. The United States Circuit Court of Appeals yesterday handed down opinions as follows: Isaac S. Moreland, appellant, vs. J. Sam Brown, as receiver of the First National Bank of Helena, Mont., appellee—Judgment reversed and case remanded. Thames and Mersey Marine Insurance Company vs. Mary O'Connell. administratrix—Judgment reversed and cause remanded. The Farmers' Loan and Trust Company and Northern Pacific Railroad Company et al, vs. Fidelity Trust Company—Judgment reversed. William Grossett vs. H. C. Townsend—Decree reversed. D. Albert Hiller and Sarah Hiller vs. Caroline A. Ladd et al.—Decree affirmed, with costs to appellees.