First National Bank (Helena, MT)

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Helenn Banks Closed

HELENA, MONT., July 27.-The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city.

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Bank Failures at Helena

HELENA, Mont., July 27.-The First National bank and the Montana National bank have suspended. The First National had deposits of $3,250,000 and the Montana National $1,500,000. Both banks have ample assets and will pay in full.

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A Run on in Helena

HELENA, Mont., July 28.-The First National and Montana National banks have failed to open and a run is now in progress on the other banks of the city.

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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.

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Marysville Gazette

We are pleased to furnish our readers with the advertisement of the First National bank of Helana, which opened its doors Mondav. People all over the state are glad to learn that the old institution, which is 80 dear to all Montanians, is her. self ORCE more. The panic is over. Prosperity and commercial activity are rapidly returning: and Marysville sends greeting to the capital cityites, and, when budding springtime comes, we hope to see Helena's feeders like Marysville, and Helena herself, booming as they never did before.

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Has Resumed Business

The First National Bank of Helena, Mont., which suspended in July last, has resumed business and has been designated by the Secretary of the Treasury a depositary of public moneys.

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BANKS CONSOLIDATE, First National and Helena National Get Together. Helena, Mont., Dec. 6.-The First National and the Helena National banks have 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 few weeks it was closed. It reopened under an agreement with the depositors to take deferred certificates. Under the-terms of the consolidation, the capital stock of the First National bank will be $800,000 and the undivided profits $200,000.

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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.

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HADN'T THE MONEY TO PAY Helena, Montana, Bank Succumbs to the Demands of Depositors, Helena, Mont., Sept. 4--The failure of the First National bank of this city was announced this morning by the post ing 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 diabilities have 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. Vice President Edgerton said this afternoon that without doubt the assets would more than pay the depositors in full and leave something for the stock(holders. The way business is now, it will take quite a while to close up the affairs of the bank and realize on the assets. However, Comptroller Eckels has placed Bank Examiner Flynn in charge of the bank. The last statement published shows 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 were $3,500,000; stocks and securities $300,000; due from other banks and reserve agents $680,000. There were no signs of a run on any other banks.

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The First National bank of Helena closed its doors this morning. There is no excitement and no runs on any of the other bauks, all of which are in a healthy condition. The matter will be the occasion of widespread regret.

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(Special to The Herald

) BUTTE, Mont., Sept. 4.-The First National Bank of Helena failed to open its doors for business this morning. The following notice, typewritten, signed by E. D. Edgerton, vice-president and manager of the bank, was placed on the door of the bank just a few minutes before 10 o'clock: "Notice is hereby given that this bank has closed its doors, on account of withdrawals of deposits beyond its power to respond. Depositors will be paid in full." A special from Helena says beyond that nothing authentic can be learned, as everyone connected with the bank refused to talk. The failure of the bank to open its doors this morning was not a surprise, as an inkling of the trouble was current talk upon the street last night. Rumors first got out that the bank was liable to close, by its failure to cover its clearings in the clearing house yesterday afternoon at 2:30. Some of the Butte stockholders of the bank give the cause of the failure as owing to large withdrawals ordered by eastern people, which the bank was unable to meet. Ex-Governor S. T. Hauser, who was president of the bank, was one of the prominent silver delegates in the Chicago convention, and since then has been espousing the cause of silver in the east. He had been warned by eastern bankers to desist or trouble would follow. He did not heed the warning, and withdrawals were ordered. It is said the depositors will be paid in full.

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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.

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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.

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Back Fails

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 on assets to cover demands of Eastern ereditors. It is claimed that the real cause of the failure is due to the high official who went east and espoused the silver cause. Eastern creditors warned him that trouble might follow for the bank if he still continued talking silver. He refused to listen, so it is claimed, and these Eastern creditors demanded their money, and the bank was unable to realize upon its assets and had to close. The failure of the bank caused no panie, the other banks being in good condition.

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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..

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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.

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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.

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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

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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.

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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.

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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.

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CIRCUIT COURT OF APPEALS.

One Decision Affects the First National Bank of Helena.

San Francisco, Feb. 14.-Judges Ross, Gilbert and Morrow, in the United States circuit court of appeals this morning rendered several decisions in cases on appeal from Washington, Montana and other parts of the circuit. In the case of D. Albert Hiller and Sarah F. Hiller, his wife, plaintiff and appellants, vs. Caroline A. Ladd et al., as executors of the last will and testament of William S. Ladd, deceased, judgment was rendered against the appellants, affirming the decree of the circuit court..

In the case of the Farmers' Loan & Trust company and the Northern Pacific railroad vs. the Fidelity Trust company, the judgment of the circuit court in favor of the Fidelity Trust company was reversed, Judge Hawley dissenting. In the case of William Grossett vs. H. C. Townsend, the decree of the circuit court was reversed.

The same fate befell the decree of the circuit court in the cases of Isaac Moreland vs. J. Sam Brown, as receiver of the First National bank of Helena, and the Thames and Merzy Marine Insurance company vs. Mary O'Connell, administratrix of the estate of Thomas O'Farrell, deceased. From the last decision Judge Gilbert dissented.

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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.