17345. Euclid Avenue Trust Company (Cleveland, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
May 8, 1908
Location
Cleveland, Ohio (41.499, -81.695)

Metadata

Model
gpt-5-mini
Short Digest
20bde3fa

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (May 8-9, 1908) report the Euclid Avenue Trust Company of Cleveland 'closed its doors' and 'assigned' to the Cleveland Trust Company / receivers. Reports state liabilities roughly equal assets and the company had been weak since the recent panic; no explicit depositor run is described. Classification: suspension (closure) leading to assignment/receivership.

Events (2)
1. May 8, 1908 Receivership
Newspaper Excerpt
Euclid Avenue Trust Company, of Cleveland, Assigns. Cleveland, O., May 8 - The Euclid Avenue Trust Company ... today made an assignment to the Cleveland Trust Company in the Insolvency court.
Source
newspapers
2. May 8, 1908 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Company weakened since the recent panic; withdrawals and loss of support made it unprofitable to continue; liabilities approximately equal assets (insolvency/weakness).
Newspaper Excerpt
The Euclid Avenue Trust company ... today announced that it would suspend business.
Source
newspapers

Newspaper Articles (16)
1. May 9, 1908 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, May 9, 1908

Click image to open full size in new tab

Article Text

BIG BANK FAILURE. Euclid Avenue Trust Company, of Cleveland, Assigns. Cleveland. O., May 8-The Euclid Avenue Trust Company, of this city. today made an assignment to the Cleveland Trust Company in the Insolvency court. No statement of assets or liabilities is given. The last statement issued by the concern gave the assets $1.700.000; liabilities. $1,700,000. J. P. Madigan. county treasurer, is president of the bank. It is stated that the bank was the only financial Institution in the city that had to be R.Ssisted by the associated banks during the recent panic. It is believed the depositors will be paid in full. It is

2. May 9, 1908 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, May 9, 1908

Click image to open full size in new tab

Article Text

News of the Day. Mrs. Russell Sage has offered $500,000 toward an endowment fund for the American Bible Society if the latter will raise a like amount. The Interstate Commerce Commission, replying to the Foraker resolution, said yesterday it had no information of any agreement to suspend the operations of the commodity clause of the Hepburn law. The Euclid Avenue Trust Company. with four branch banks has assigned to the Cleveland Trust Company, ending an effort of eight months to regain 8 footing. Its last reported assets were $1,707,960. The British ship Loch Etive, bound from Melbcurne Australia, to Boston with a $500,000 cargo of wool, is thirty days overdue. She Is a s'eel vessel and has now been out 120 days. She carries a crew of 21. By a vote of 201 to 7 the bill repealing the Irish coercion act of 1887 passed its second reading In the House of commons yesterday. The act was passed by the late Tory government to check or abolish political agitation in Ireland. Members of the Order of Railw y Telegraphers in Clarksburg, W. Ve., employed by the Baltimore and Ohio Railway are voting on a strike proposition. There have been difference between the men and the company since the federal nine-hour law was adopted, March 4. A dispatch from Manchester, 0., says Troop A, of Oleveland, is today pstrolling the Ohio side of the Ohio river to prevent any invasion of Kentucky night riders. The farmers back from the river are in a panic. Many think the country is in a state of seizure. Many refuse to leave their homes for fear of being shot, Although he had been elected Protestant Episcopal Bishop of Washington three days ago, the members of the diocesan convention have heard nothing from Bishop Charles H. Brent. Cablegrams to the Phillippines, his last charge, have failed to bring any response as yet, and it is even not known whether the bishop has received any of the messages. Mrs. Belle Gunness, accused of a dozen or more murders in her home outside of Laporte, Ind., is reported to have been arrested at Syracuse, N. ¥. last night. A woman NCB arres:ed by Syracuse detectives on a train. She was undressed in a sleeper when the deteclives made the arrest. They did not take her off the train, but went with her to Utica, the*train's next stop. The understanding is that Mrs. Gunness was on her way to New York, and the Syracuse detectives got word from the authorities at Laporte to arrest her.

3. May 14, 1908 The Alaska Prospector Valdez, AK
Article from The Alaska Prospector, May 14, 1908

Click image to open full size in new tab

Article Text

Trust Company Closes Doors Cleveland, May 9-The Euclid Avenue Trust Company closed its doors today. It is given out that the assets of the concern will equal the liabilities which are estimated at $1,5000, 000. The company has been weak since the panic.

4. May 14, 1908 The Alaska Prospector Valdez, AK
Article from The Alaska Prospector, May 14, 1908

Click image to open full size in new tab

Article Text

Telegraphic News Candidates Pledge Support Seattle, May 8- All republican candidates for state office pledged themselves before the republican state convention today to support the peoples' choice for United States senator, as expressed at the primaries. Massachusetts for Bryan Boston, May 8-After a fight lasting more than an hour the democratic state convention today pledged its delegates to the national convention to vote for Bryan. Forestry Service Scored Washington, May 8-Senator Teller of Colorado today made an attack on the government forestry service and declared that its administration is unwise and arbitrary. Roosevelt to Take Rest Washington, May 8 - President Roosevelt and his family departed today for Pine Knot, West Virginia. for a week's vacation. Postal Savings Bank Urged Washington, May 8-Senator Carter today addressed the senate in behalf of the Postal Savings bank bill. He urged its passage as legislation in behalf of the poor man. Cashier Short $270,000 Pittsburg, May 8-William Montgomery, cashier of the Alleghany National Bank is missing and the bank accounts are short $270,000. Trust Company Closes Doors Cleveland, May 9-The Euclid Avenue Trust Company closed its doors today. It given out that the assets of the concern will equal the liabilities which are estimated at $1,5000, 000. The company has been weak since the panic. Spokanites to See Fleet Spokane, May 9-The Spokane a a large chamber special number of train commerce of which the city's will has chartered convey residents to Seattle for a sight of the Atlantic fleet. Two days will be spent on the Sound. More Pay For Army Officers Washington, May The house today agreed to the proposed appropriation of $7,000,000 which will be used to increase the pay of army officers and soldiers. Major Richardson Recovering Washington, May 9-Major Richardson, in charge of the Alaska road bureau, is reported from Hot Springs, Arkansas, as being on the road to recovery. The officer has been in the millitary hospital at the springs for several months. Nome Land Line Down Seattle, May 9-The land telegraph line to Nome is down. It not known here just where the trouble is. New Laws For Alaska Wanted Seattle, May 12-Mayor McCormick of Wrangell, who is now in Seattle is desireous that a commission be appointed for the purpose of compiling new laws for Alaska. In an interview today Mayor McCormick set forth his views in this respect advancing the idea that such action will be in the nature of a compromise on the quesof territorial government. Rifles Shoot Too Low Camp American Lake, May 12-The shooting done on the range here shows that the new Springfield rifles supplied the troops shoot low and the recommendations for its use have been withdrawn. Thaw Divorce Postponed New York, May 12-At the request of the mother of Harry Thaw action on the divorce now being sought by him has been postponed for a week. Mrs. Thaw is desirous of getting additional evidence as to her son's mental condition at the time of his marriage to Evelyn Nesbit. This evidence is to come from Pittsburg. Scotty Finds Two Bodies Needles, Cal., May 12 - Walter Death

5. May 16, 1908 The Ketchikan Miner Ketchikan, AK
Article from The Ketchikan Miner, May 16, 1908

Click image to open full size in new tab

Article Text

TELEGRAPHIC TIPS LaPorte, Ind., May 8. The investi- degation being made by officers and tectives into the circumstances sur- of the burning of the home Belle Guiness is rounding Mrs. bringing The sus- out some startling revelations. picion that a mystery was attached to the affair led to an investigation of the ruins and it was discovered that nine persons including Mrs. Guiness and her three children, had been ere- of mated. Indications that the death all but Mrs. Guiness and the children had occurred prior to the fire led to the belief that the home of the woman had been the scene of the eperatioos in the carrying out of some fiendish plot. Letters fell into the hands of the detectives today which for explain the mystery. Selecting her victims unmarried men who were known to be more or less well situat- the ed financially, she lured them to farm, which she owned. under pretense of wishing to marry them. She would not, however, turn over her property to the would-be husband until he had deposited 3 thousand dollars in her name. As soon as the money was paid the victim was enticed to her home and there. with the aid of an accomplice, murdered. The inves- the tigation has already developed fact that at least twelve men fell victime to her fiendish plot, and the indications are that the horrors perpetrated by the Bender family in Kansas 18 ill not compare with the swful atro- Guicities committed by Mrs. Belle ness. Sufficient evidence has been secured to warraut the officers in holding Roy Lamphere, who was placed under arrest following the examination of the ruins, charged with being the woman's recomplice in her crimes Boston, May & - After a hard fought coatest of 3D hour's duration William J. Bryan today received the endorse- Demment of the Massachusetts state ocratic convention now in session. Atlanta. Ga., May 9. -Fire broke out today in a building on Forsyth to street that spread so rapidly as the nearly succeed in getting beyond Two control of the fire department. blocks of buillings were totally destroyed before the advance of the flames was checked. The burned area that bounded by Foryth. Nelson, Madison and Hunter streets. So far as DO one lost their known building. lives in the burning The property loss will reach a large figure, being esti- dolmated at a million and a quarter lars. Cieveland, May 2-The Evelide Avenue Trust company. one of the large financial institutions of the city, today announced that it would suspend business. The institution was seriousis weakened during the recent financial panic, and the consequent with- has drawal of support and patronage made it unprofitable to continue the business. The liabilities of the institution amount to a million and a balf dollars and the assets reach the same figure. Washington. May -The Senate it today passed the law which makes uplawful to employ children under forw the age of fourteen years in any of occupation. The las is applicable only to the District of Colubmia. Washington, May 9.-Major Rich ardson of the Alaska Roads Commission abo was recently transferred station in Arkansas 00 account of sickness is reported as recovering. Shortby after his arrival be was sent to Ar. the military hospital at Hot Springs, kansas and placed under treatment for rbeumatism which he had contracted during bis service in Alaska. Reports fr om there state that he has been greatly benefited by the springs and his will probably be able to resume daties in a short time. Seattle, May -The case of Will liam Constantice who sho: his son-inlaw, Jessie Hall, in the month of October, 1906. was called today and a plea of guilty was entered by the defend- had He stated he was sorry he dur committed ant. the crime, and cried The ing the reading of the complaint. court imposed a fine of five thousand dollars. Washington, May -Delegate Cale is dissatisfied with the president's announced choice for successor te District Attorney Harlan. He basis Mr. his objection upon the fact that Crossley is not a resident of Alaska and stated that as soon as President Roosevelt returned from his vacation he would place the matter before him with the request that the appointment that of Crossley be withdrawn and either Charles Claypool or J. M. Latof Fairbanks or L. V. Ray of be appointed to Seward timer fill the prefers vaMr. Cale personally cancy. latter for the the would

6. January 2, 1909 The News=record Enterprise, OR
Article from The News=record, January 2, 1909

Click image to open full size in new tab

Article Text

FINANCIAL TROUBLES JANUARY. 9. Receivers appointed for the Chicago and Great Western railway. MARCH. 21. Knickerbocker Trust company in New York opened its doors after a suspension of 5 months. APRIL. 28. The New York Stock Exchange firm of Coster, Knapp & Co. failed for nearly $4,000,000. MAY. L W. A. Stetson, leather dealer, failed in Boston; liabilities about $3,000,000. 4. Inman & Co., cotton brokers, failed in Augusta, Ga.; liabilities $1,250,000. 9. The Euclid Avenue Trust Co. of Cleveland assigned with liabilities of $1,700,000. 26. The Amador Mining and Development Co. of Montana failed in Chicago. JULY. 19. Cameron, Currie & Co. of Detroit, members of the New York Stock Exchange, placed in hands of a receiver, owing $1,000,000. AUGUST. 8. The Pillsbury-Washburn Flour Mills Co. in Minneapolis placed in receiver's hands; liabilities $9,000,000. 25. A. O. Brown & Co., Stock Exchange brokers in New York, failed with heavy liabilities. SEPTEMBER. 10. A. Booth & Co., fish and oyster firm, placed in receiver's hands in Chicago; liabilities $5,500,000. OCTOBER. 17. E. H. Gray & Co., stockbrokers in Boston, thrown into bankruptcy, owing nearly $8,000,000. NOVEMBER. 10. Boardman & Co., brokers, failed in Philadelphia: liabilities $1,000,000.

7. January 7, 1909 The Hayti Herald Hayti, MO
Article from The Hayti Herald, January 7, 1909

Click image to open full size in new tab

Article Text

TODO ICAN Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 22-Traders and Mechanics' Bank, Pittsburg. Pa. closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000. and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euelid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg. Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosclusko Company bank, Warsaw, Ind., closed by state auditor. Jul. 14-National Deposit bank, Philadel. phia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine declsion unanimously reversed by United States court of appeals at Clilcago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty : of misapplication of funds and falsifying books of National Bank of AmerI Ica, New York. I 6=C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. Dec. 7-National exchange bank at 1 Springfield, Mo. closed; excitement , caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union Na. . tional bank. 11-Springport, Mich., State Savings bank 1 closed by bank examiner. 16-Somersworth, N. H., First National 9 bank closed, following discovery of shortage of $85,000. 1 23-Thomas F. Ryan announced retirement from finance. : 26-Henry W. Poor, New York broker, assigned for creditors. a

8. January 7, 1909 The Spanish Fork Press Spanish Fork, UT
Article from The Spanish Fork Press, January 7, 1909

Click image to open full size in new tab

Article Text

Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank, Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg. Pa., closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors, following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. 16-People's National bank, Aspin, Col., closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon, Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. e 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 1 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed doors. r Jul. 14-National Deposit bank, Philadeln phia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine decision unanimously reversed by United States court of appeals at Chicago. Aug. 6-First National bank, Belle Plaine, ). Minn., closed by order comptroller of currency; bank was insolvent: President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest it New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. di Oct. 16-Union National bank, Sommer11 ville, Pa., closed by government. 1Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifyd ing books of National Bank of America, New York. s' 6-C. W. Morse sentenced to 15 years Curtis given liberty on suspended sentence. in 23-Eldred bank of Eldred. Pa., suspended: capital stock, $100,000. ed Dec. 7-National exchange bank a Springfield, Mo., closed: excitement y caused by effort of W. O. Oldham cashier of State Savings bank, to shoo te President H. B. McDaniel, of Union Na tional bank. ed 11-Springport, Mich., State Savings bank n. closed by bank examiner. c16-Somersworth. N. H., First Nationa bank closed. following discovery o eshortage of $85,000. as 23-Thomas F. Ryan announced retire ment from finance. e26-Henry W. Poor, New York broker, as th signed for creditors.

9. January 7, 1909 Gilpin Observer Central City, CO
Article from Gilpin Observer, January 7, 1909

Click image to open full size in new tab

Article Text

FINANCIAL $ $ Jan. 2-State Bank, Rockyford, Col., closed doors. Ka 6-Four big New York diamond firms forced into trustee's hands: liabilities, $4,500,000. 8-Chicago Great Western railroad JOHN placed in hands of D. receivers. ROCKEFELLER 16-Western Bank and Trust Co., Dallas, Tex. largest Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank, Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg. Pa.. closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors, following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. -People's National bank. Aspin. Col., closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon. Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa.. stockbrokers. failed; liabilities, $1,800,000. Jun. 3-Kosclusko Company bank, Warsaw, Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed doors. Jul. 14-National Deposit bank. Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine declsion unanimously reversed by United States court of appeals at Chicago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent: President J. G. Lund committed suicide. 25-A. a Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16-Union National bank, Sommerville, Pa., closed by government. Nov. -Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. 23-Eldred bank of Eldred, Pa., suspended: capital stock, $100,000. Dec. 7-National exchange bank at Springfield, Mo., closed: excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed. following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors.

10. January 8, 1909 Washington Telegraph Washington, AR
Article from Washington Telegraph, January 8, 1909

Click image to open full size in new tab

Article Text

o tional bank and se railroads, convicted of msapprop aring institution's f funds. 22-Traders and Mechanics' Bank, Pittsburg, Pa. closed doors. t 25-NationalBank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. Feb. of 13-W. B. Ridgely, comptroller currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosciusko Company bank, Warsaw, Ind., closed by state auditor. Jul. 14-National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard Oil $29,240,000 fine decision unanimously reversed by United States court of appeals at Chicago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 5-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. ep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. OV. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of AmerIca, New York. -C. W. Morse sentenced to 15 years; Curtis given liberty on suspended senlence. ec. 7-National exchange bank at Springfield, Mo., closed; excitement aused by effort of W. O. Oldham, ashier of State Savings bank, to shoot President H. B. McDaniel, of Union Nadonal bank. Springport, Mich., State Savings bank losed by bank examiner. Somersworth, N. H., First National ank closed, following discovery of hortage of $85,000. Thomas F. Ryan announced retire2 ent from finance. Henry W. Poor, New York broker, as2 gned for creditors.

11. January 8, 1909 The Julesburg Grit-Advocate Julesburg, Big Springs, CO
Article from The Julesburg Grit-Advocate, January 8, 1909

Click image to open full size in new tab

Article Text

TEXT TOTAL Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank, Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg. Pa., closed doors. 25-National Bank of North America. New York, closed for liquidation, by order of government. 29-New Amsterdam National bank. capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors. following run. Feb. 13-W. B. Ridgely. comptroller of currency. accepted presidency of reorganized National Bank of Commerce, Kansas City. Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. 16-People's National bank, Aspin, Col., closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon, Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosctusko Company bank, Warsaw. Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed doors. Jul. 14-National Deposit bank. Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 23-Standard on $29,240,000 fine deelalon unanimously reversed by United States court of appeals at Chieago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency: bank was insolvent: President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16-Union National bank, Sommerville, Pa., closed by government. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of AmerIca, New York. -C. W. Morse sentenced to 15 years: Curtis given liberty on suspended sentence. 23-Eldred bank of Eldred. Pa., suspended; capital stock, $100,000. Dec. 7-National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham. cashier of State Savings bank. to shoot President H. B. McDaniel, of Union National bank. 11-Springport. Mich. State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed. following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor. New York broker, assigned for creditors.

12. January 8, 1909 The Chanute Times Chanute, KS
Article from The Chanute Times, January 8, 1909

Click image to open full size in new tab

Article Text

FINANCIAL Jan. 2-State Bank, Rockyford, Col., closed doors. 6-Four big New York diamond firms forced into trustee's hands; liabilities, $4,500,000. 8-Chicago Great Western railroad JOHN placed in hands of receivers. ROCKEFELLER 16-Western Bank and Trust Co., Dallas, Tex., largest Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank, Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors, following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. 16-People's National bank, Aspin, Col., closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon, Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, Jun. $1,800,000. 3-Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed Jul. doors. -National Deposit bank, Philadelphia, Pa., closed by comptroller of cur17-Farmers rency. and Merchants' Banking Co., Cleveland, O., failed. 22-Standard Oil $29,240,000 fine dectsion unanimously reversed by United States court of appeals at ChiAug. engo. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's Oct. hands. 16-Union National bank, Sommerville, Pa., closed by government. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sen23-Eldred tence. bank of Eldred, Pa., suspended; capital stock, $100,000. Dec. 7-National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed, following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors.

13. January 8, 1909 The Farmington Times Farmington, MO
Article from The Farmington Times, January 8, 1909

Click image to open full size in new tab

Article Text

Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank, Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg. Pa., closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank. both of New York, taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors. following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial: sentenced to five years in federal prison. 16-People's National bank, Aspin, Col., closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon, Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, falled for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland. O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed: liabilities, $1,800,000. Jun. 3-Kosclusko Company bank, Warsaw, Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed doors. Jul. 14-National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine declstep unanimously reversed by United States court of appeals at Chiengo. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency: bank was insolvent: President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16-Union National bank, Sommerville, Pa., closed by government. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years: Curtis given liberty on suspended sentence. 23-Eldred bank of Eldred, Pa., suspended: capital stock, $100,000. Dec. 7-National exchange bank at Springfield. Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed, following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor. New York broker, assigned for creditors.

14. April 1, 1909 Ottumwa Tri-Weekly Courier Ottumwa, IA
Article from Ottumwa Tri-Weekly Courier, April 1, 1909

Click image to open full size in new tab

Article Text

PASTOR NOW INVOLVED IN KIERAN CASE CLEVELAND DIVINE SAID TO SIGNED NOTES AGGREGATING TWO MILLION FOR FIDELITY FUNDING BUBBLE. Cleveland, March 31.-A New York special to the News says: "Thomas F. Gilroy and R. C. Morris, receivers for the Fidelity Funding company, whose gigantic operations were disclosed last December, both say that Rev. William McMahon of Cleveland, who was director in the funding company and who is said to have been active in the plans fathered by P. J. Kieran, head of the Funding Co., has become liable through signing and indorsing notes with Kieran for a sum which will probably reach $2,000,000. "McMahon's dealings with Kieran, it was thought until today, extended only to the reorganization of the Euclid Avenue Trust company of Cleveland, in the carrying out of which he signed notes for about $35,000. Kieran is said to have had similar deals with hundreds of churches throughout the country. The notes, it is said, were placed in pawn by him. These notes, it is alleged amount to $4,500,000." Former Minister in Swindle. Augusta, Ga., March 31.-Willian D. Owen was arrested here today. He operated in Mexican bonanza land schemes in which more than a million dollars was invested in small parcels and stocks were taken mostly by persons attracted by glittering full page advertisements in newspapers. The most of the prominent companies which Owen headed were the Ubero Plantation companies of Indiana and Boston. Four years ago these companies crashed. The government issued a fraud order against them, charging Owen and F. E. Berzes with heading gigantic swindles. Borges was arrested. Owen and Borges both were Logansport, Indiana, men. Owen was a Christian minister and in 1885 was elected to congress from the tenth district of Indiana.

15. April 3, 1909 The Free Lance Fredericksburg, VA
Article from The Free Lance, April 3, 1909

Click image to open full size in new tab

Article Text

Editor of Catholic Universe Signed Many Notes For the Fidelity Funding Company, of New York, Which is Now In the Hands of Receiver. Church Property Not Involved. Cleveland, O., April 1.-Rev. William McMahon. pastor of St. Bridget's Catholic church, and editor of the Catholic Universe, filed a voluntary petition in bankruptcy in the United States court. In the petition his total liabilities are stated to be $1,594,141.64. with assets aggregating $75,207.08. of which $71,300 is real estate. The secured claims amount to $946,925.73; unsecured claims, $371,207.91. and commercial paper, $185,918. Father McMahon was a director of the Fidelity Funding company, of New York, founded by P. J. Kleran, and which now is in the hands of receivers. Thus it came about that his name was signed to many of the papers is sued by the company, and for which he now is held liable by the receivers. The petition enumerates many notes signed by Father McMahon. They are held mostly in New York, Pittsburg and Cleveland banks. Late in 1905 Father McMahon borrowed a small amount of money from Kieran, who is said to have offered him a lower rate of interest than that charged by other companies engaged in a similar line of business. The friendship between the priest and the financier grew to such an extent that the former signed or endorsed the notes which now are held against him. and at the time of the failure of the Fidelity Funding company was one of the board of directors. When the Kieran crash came in December last Father McMahon's dealings were supposed to extend only to the reorganization of the Euclid Avenue Trust company, of Cleveland. in which he signed notes for about $35,000. His assets were then said not to exceed $20,000. It was announced authoritatively from a priest closely identified with the affairs of the Cleveland diocese that the liability set forth in the petition in voluntary bankruptcy made by Father McMahon is personal and that the Catholic church property is not involved in a way that the church can lose. The title to all Catholic church prop erty, it was explained, in all parts of the world, is vested in the archbishop or bishop of the diocese in which It is located. and mortgages must be sanctioned by the prelate in charge.

16. December 24, 1909 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, December 24, 1909

Click image to open full size in new tab

Article Text

# THE GLORY NOT HIS Republican Official's Actions Speak Louder than Words. Governor Harmon is now playing "who's got the button" and with the help of Attorney General Denman, there is no doubt but what the mystery will be solved. There is no denying the claim that some Republican office-holders of the not very distant past were guilty of acts that have given the Republican party cause for worry. But the party as a whole is not to be blamed for the acts of individuals any more than a store or a bank or a railroad is to be blamed for the crooked acts of employes. When Attorney General Denman, for the state, filed an action holding sureties of the late State Treasurer W. S. McKinnon, liable for losses growing out of the liquidation of the Euclid Avenue Trust company of Cleveland, Governor Harmon took advantage of the situation to repeat the speech he made on more than one occasion when he was a candidate for governor. As a matter of fact, the Republican party has been "licked" once on that same issue. There never was any doubt as to irregularities, at least, in the state treasurer's office under the administration of the late Mr. McKinnon. Every cent paid into state coffers was strictly accounted for, but there was just criticism of the method of bookkeeping and the depositing of state funds. The great problem was considered so serious by Governor Herrick as long as five years ago, that he recommended the enactment of a depository law. While a workable law was passed the legislature did not go as far as Governor Herrick suggested. If the Herrick proposal had been made a law there would now be no occasion for the scandal that makes Governor Harmon lick his chops and which angers present state officeholders. Although state officeholders of this date are not to blame for the present condition of affairs, it is up to them to help the people get back any sums which they may have mulcted. Attorney General Denman shows his attitude by bringing the suit suit which makes the Harmon political orgy possible. Auditor of State Fullington and Secretary of State Thompson insist that the matter shall be probed to the bottom and they have tendered their services both to the Governor and to the attorney general. Prominent Republicans are giving the Governor and attorney general every encouragement and the ablest Republican journals are most insistent that the atmosphere shall be cleared. The Republican party is big enough to help wed out the incompetents within its own ranks and it is big because it does not hesitate to be the first to chastise the wrongdoers. Under the circumstances there can be no doubt but that the whole truth will be known. But the "doings" at the state house do not give cause for the Democratic cry that all is "rotten." This one ripple will not grow into the wave on which the Governor will ride into the president's chair or even back to the governor's office. He will have to do more than claim credit for a "grand expose" which really comes from the office of the attorney general. Governor Harmon is to be given full credit for stirring up this "scandal" by talking about it a whole lot in fact, incessantly. And Attorney General Denman is entitled to as much praise for acting on the premises. An old saw runs that actions speak louder than words.