American Savings Bank - Washington, DC

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: April 4, 1904
Location: Washington, District of Columbia (38.895, -77.036)

Metadata

Model: gpt-5-mini
Short Digest: 3e5b9763

Response Measures

None

Description

Articles consistently refer to the American Savings Bank as 'defunct' and repeatedly mention receivers (Tracy L. Jeffords, Alexander Wolf, Charles F. Carusi) handling its affairs from at least April 1904 through mid-1905. There is no description of a depositor run in the provided articles. The sequence is a suspension/closure with receivership (permanent closure).

Events (6)

1. April 4, 1904 Other

Newspaper Excerpt: Tracy L. Jeffords, Alexander Wolf, and Charles F. Carusi, receivers for the defunct American Savings Bank, have sent out a call for a meeting of the depositors at the Jenifer Building, on Thursday evening, at 7:30 o'clock. The matter to be submitted to the depositors concerns the realization of certain assets, and the question of the continuance of litigation incident to the settlement of the affairs of the bank.
Source: newspapers

2. May 18, 1904 Receivership

Newspaper Excerpt: Haller agt. American Savings Bank; receivers authorized to compromise certain claims.
Source: newspapers

3. November 2, 1904 Receivership

Newspaper Excerpt: The American Savings Bank, to use of Tracy L. Jeffords, Alexander Wolf and Charles F. Carusi, receivers, plaintiff, agt. J. Floyd King...
Source: newspapers

4. January 30, 1905 Receivership

Newspaper Excerpt: Haller agt. American Savings Bank; receivers authorized to compromise claim. Complainant's solicitor, T. L. Jeffords; defendant's solicitor, C. H. Syme; intervenor's solicitors, Wolf & Rosenberg.
Source: newspapers

5. June 16, 1905 Receivership

Newspaper Excerpt: Haller agt American Savings Bank; rule on receivers as to the payment of certain sum returnable June 19, 1905; complainant's solicitors, T. L. Jeords and Wolf & Rosenberg; defendant's solicitor, C. H. Syme.
Source: newspapers

6. June 27, 1905 Other

Newspaper Excerpt: William Oscar Roome, sr., president of the American Savings Bank throughout its active existence from 1897 to 1901. The bank is now in the hands of receivers.
Source: newspapers

Newspaper Articles (6)

1. April 4, 1904 The Washington Times Washington, DC

Article from The Washington Times, April 4, 1904

Click image to open full size in new tab

Article Text

NEWS AND GOSSIP OF STOCK MARKETS WASHINGTON. Although sales were not abundant on the local exchange today, the bidding was quite spirited, and in some instances the prices offered were well above the last quotations. This was the case especially with Graphophone common. for which 4½ was bid and 51/2 asked. the bid being a half and the asking a whole point above the last quotations. Bids of 8½ were made for Riggs Fire Insurance, but no stock was offered. The same condition obtained in the case of Potomac Fire, for which bids as high as 25 were made, without bringing out any of the stock. For the first time in a long while there were bids for the 5 per cent bonds of the City and Suburban and Anacostia and Potomac Railways. In both cases 90 was bid, but no asking price was opposed to the bidding. The most notable sales were 125 shares of Washington Gas at 57% and 57%, respectively; thirty-five shares of Mengenthaler, at 1771/4; thirty shares of Capital Traction, at 120, and seventeen shares of Citizens' National Bank, at 220 for ten, and 218 for the other seven. Tracy L. Jeffords, Alexander Wolf, and Charles F. Carusi, receivers for the defunct American Savings Bank, have sent out a call for a meeting of the depositors at the Jenifer Building, on Thursday evening, at 7:30 o'clock. The matter to be submitted to the depositors concerns the realization of certain assets, and the question of the continuance of litigation incident to the settlement of the affairs of the bank. The report of the trust companies and national banks of Washington. to the United States Comptroller of Currency on March 28, 1904, shows that the total deposits were about $42,000,000; total loans about $32,500,000, and total assets over $60,000,000. The total deposits of the same institutions one year ago were $28,600,000; loans, $26,300,000, and total resources, $51,400,000. It is interesting to note that during the last quintennial period loans have increased over $12,000,000, and deposits have increased over $11,000,000. while the total resources show an increase of approximately $20,000,000. It is gratifying to note the healthy condition in the deposits of these institutions, and especially the fact that while several new ones have organized during the last five years, both the old and new have been very successful.

2. May 18, 1904 Evening Star Washington, DC

Click image to open full size in new tab

Article Text

THE COURT RECORD District Supreme Court. EQUITY COURT-No. 1-Justice Anderson. Haller agt. American Savings Bank; receivers authorized to compromise certain claims. Complainant's solicitor, T. L. Jeffords; intervenor's solicitors, Wolf & Rosenberg; defendant's solicitor, C. H. Syme. Burns agt. Hayes; decree adjusting rights of parties; complainant's solicitors, Cole & Donaldson and H. B. Moulton; defendant's attorney, H. E. Davis. Alman agt. Alman; order overruling decree of May 12; complainant's solicitor, G. P. McGlue. Tatem agt. Tompkins; Henry F. Woodard and Reuben S. Smith appointed receivers for sale; bond, $25,000; complainant's solicitors, Birney & Woodard and G. E. Tralles; defendant's solicitor, R. S. Smith, Anderson agt. Mariner; rule as to appointment of receiver discharged; complainant's solicitor, F. S. Key Smith; defendant's solicitor, M. N. Richardson. Taylor agt. Taylor; rule as to payment of alimony pendente lite, returnable May 27; complainant's solicitor, L. C. Williamson.

3. November 2, 1904 Evening Star Washington, DC

Article from Evening Star, November 2, 1904

Click image to open full size in new tab

Article Text

JUSTICES OF THE PEACE. Charles S. Bundy. SUBDISTRICT NO. 1. Lawrence A. Lodge, plaintiff, agt. Arthur W. Tancil, defendant; debt, $40, with interest. William J. Cutchinson and Michael J. McCarthy (co-partners), trading as Cutchinson & McCarthy, plaintiffs, agt. Mrs. E. G. Belrose, defendant; debt, $39.75. The Washington Times (Inc.), plaintiff, agt. Joseph W. Craig and E. H. Taggart, trading as Craig & Taggart, defendants; debt, $278.39; Lambert & Baker, plaintiff's attorneys. Walter E. Colwell, trading as Stocks Automobile Company, plaintiff, agt. James Raeburn, defendant; debt, $106.64, with interest: dismissed upon settlement. Edwin S. Holmes, plaintiff, agt. John Floyd, defendant; attachment for rent; dismissed by plaintiff; W. E. Ambrose, plaintiff's attorney. Edwin S. Holmes, plaintiff, agt. John Floyd, defendant: debt for rent, $46.50; dismissed upon settlement. Samuel C. Mills. SUBDISTRICT NO. 2. Edward Fowler, plaintiff, agt. George Washington Drew, defendant; debt, $10. The American Savings Bank, to use of Tracy L. Jeffords, Alexander Wolf and Charles F. Carusi, receivers, plaintiff, agt. J. Floyd King, Robert E. Doan and William Bristow, defendants; debt, $75. William Washington, plaintiff, agt. Ralph Berger, defendant: damages, $300; judgment for plaintiff for $25 damages, with interest; satisfied. William A. Stewart, plaintiff, agt. Edward D. Williston, defendant: debt, $113; judgment for plaintiff for $13, with interest. Ralph M. Connable and John L. Connable, trading as Baltimore Rubber Tire Company, plaintiff, agt. Automobile Storage Repair Company, defendant; debt, $190.30; dismissed by plaintiff. Charles C. Payne, plaintiff, agt. Edward E. Taylor, trading as the Taylor Commission Company, defendant: debt, $37.50; judgment for plaintiff for $37.50; F. S. Key Smith, plaintiff's attorney. Samuel R. Church. SUBDISTRICT NO. 3. Anna M. Hoffman, plaintiff, agt. William Fitzpatrick, defendant; debt, $21.31; W. L. Elterick, plaintiff's attorney. Luke C. Strider. SUBDISTRICT NO. 4. W. A. Patton, plaintiff, agt. Washington Railway and Eleetric Company, defendant; damages, $300; dismissed for want of jurisdiction. Lewis I. O'Neal. SUBDISTRICT NO. 5. Charles Stone, plaintiff agt. Charles Knight, defendant; replevin in $30 damages. H. Randall Webb. SUBDISTRICT NO. 6. John W. Watts, plaintiff, agt. S. A. Blount, defendant; debt, $37.50; judgment for plaintiff. Charles P. Reid, plaintiff, agt. Lawrence W Gary and Frederick T. Gary, trading as Gary Bros., defendants; debt, $73.71; F. H. Stephens, plaintiff's attorney. Jennie Elliott, claimant, agt. W. M. Redmond, defendant; creditor; trial of right of property. Robert H. Terrell. SUBDISTRICT NO. 8. W. C. Rastettler, trading under the firm name and style of Eclipse Buggy Company, plaintiff, agt. A. J. Stabler, trading under the firm name and style of A. J. Stabler & Co., defendant; debt, $210, with interest. The Equitable Purchasing Co. (Inc.), plaintiff, agt. Lester D. Moore, defendant; debt, $14.95, with interest; Raymond P. Dickey. P. G. Scott, plaintiff, agt. Isaac R. Hitt, surviving partner of Isaac R. Hitt and Willis M. Hitt, doing business as Isaac R. Hitt & Co., defendant; debt, $113. William J. Dante, plaintiff, agt. Henry B. Ball, defendant; debt, $30, with interest; judgment for plaintiff on affidavit; Brandenburg & Brandenburg, plaintiff's attorneys. David T. Lyon, Mark T. Lyon and Abraham H. Lyon, trading as Lyon Brothers, plaintiffs, agt. Hyman Gewirs, otherwise known as Hewirz, defendant; debt, $67.14, with interest; judgment for plaintiff on affidavit; Jas. F. Mullaly, plaintiff's attorney. Christian Seitz, plaintiff, agt. William

4. January 30, 1905 Evening Star Washington, DC

Article from Evening Star, January 30, 1905

Click image to open full size in new tab

Article Text

District Supreme Court. EQUITY COURT NO. 1-Justice Anderson. Haller agt. American Savings Bank; receivers authorized to compromise claim. Complainant's solicitor, T. L. Jeffords; defendant's solicitor, C. H. Syme; intervenor's solicitors, Wolf & Rosenberg. Larner agt. Gideon; receivers authorized to sell; reference to auditor. Complainant's solicitor, J. B. Larner; defendant's solicitor, T. P. Myers. Adams agt. Adams; auditor's report confirmed. Complainant's solicitor, Leon Tobriner. Howard agt. Armstrong; sale finally ratified and reference to auditor. Complainant's solicitor, J. F. Mullaly; defendant's solicitors, W. A. Johnston, J. H. Wilson and F. E. Mitchell.

5. June 16, 1905 Evening Star Washington, DC

Article from Evening Star, June 16, 1905

Click image to open full size in new tab

Article Text

# THE COURT RECORD # COURT OF APPEALS. Present: The chief justice and Mr. Justice Morris. No. 1520. Vogt agt. Vogt et al.; order of severance granted Fred H. Vogt; appeal to United States Supreme Court prayed by appellee, Fred H. Vogt, allowed and bond for costs fixed at $300. No. 1423. Earle, administrator, agt. Waggaman, administrator; appeal to United State Supreme Court prayed by appellant Earle allowed and bond fixed for costs at $300. No. 1485. Butler agt. Frazee; appeal to United States Supreme Court prayed by appellant allowed and bond for costs fixed at $300. Adjourned from day to day. EQUITY COURT NO. 1-Justice Anderson. Adriaans agt. Reilly; demurrer sustained; bill of review dismissed; appeal noted; bond, $50; complainant's solicitor, W. A. Meloy; defendant's solicitors, W. B. Reilly and J. G. Bigelow. Hill agt. Glibert; sales finally ratified; complainant's solicitor, Smith Thompson, jr.; defendant's solicitor, E. H. Thomas. Connolly agt. Connolly; complainant granted leave to file supplemental bill; complainant's solicitor, Charles S. Wilson; defendant's solicitors, Thompson & Laskey. In re Caroline Walker; reference to auditor. Snow agt. Snow; time to take testimony limited; complainant's solicitor, E. L. Gies; defendant's solicitor, R. F. Downing. Robey agt. Haight; receiver authorized to pay certain sums; complainant's solicitor, P. A. Grau; defendant's solicitor, Stuart McNamara. Kirkpatrick agt. Kirkpatrick; cause set down for hearing in open court for June 20, 1905; complainant's solicitor, L. C. Williamson; defendant's solicitors, R. L. Williams and P. H. Marshall. Haller agt American Savings Bank; rule on receivers as to the payment of certain sum returnable June 19, 1905; complainant's solicitors, T. L. Jeords and Wolf & Rosenberg; defendant's solicitor, C. H. Syme. Norris agt. Ashford; time to take testimony limited; complainant's solicitors, W. E. Poulton, jr., and Hallam & Hallam; defendant's solicitors, J. A. Butler, W. D. Davidge and Mackall & Maedel. Walker agt Davis; time to take testimony limited; complainant's solicitors, Lester & Price; defendant's solicitor, Crandal Mackey. Collins agt. Collins; time to take testimony limited; complainant's solicitor, E. L. Gies; defendant's solicitor, W. C. Balderston. EQUITY COURT NO. 2-Justice Stafford. Foulkes agt. Stone; leave to file amendments to bill granted; complainant's solicitor, Leigh Robinson; defendant's solicitor, P. R. Hilliard. In re lunacy of Sarah C. Burrows; sixth account of committee referred to auditor. Winans agt. Winans; proof before T. H. Fitnam, examiner, ordered taken; complainant's solicitor, A. C. Wells; defendant's solicitor, W. M. Offley. Jacobs agt. Jacobs; defendant adjudged in contempt and question of punishment postponed; complainant's solicitor, Edwin Forrest; defendant's solicitors, E. H. Thomas and G. C. Meeys. Lovett agt. Farnham; matter of rule referred to auditor for finding; complainant's solicitor, S. Herbert Giesy; defendant's solicitor, F. W. McReynolds. Hall agt. Hall; hearing upon rule continued until June 30, 1905; complainant's solicitor, Robinson White; defendant's solicitor, E. L. Gies. # CRIMINAL COURT NO. 1-Justice Wright. United States vs. William G. Crawford, violating section 5440, Revised Statutes of the United States; on trial. Attorneys, J. G. Carlisle and Worthington, Heald & Frailey. # CRIMINAL COURT NO. 2-Justice Gould. United States agt. Louis and Susie Lundy, larceny; plea guilty entered by Louis Lundy; sentence jail eleven months and twenty-nine days; nolle pros as to Susie Lundy. United States agt. John H. Johnson, robbery; sentence penitentiary for three years. United States agt. Grace Scott; larceny; motion for new trial filed. United States agt. Blanche Green; larceny; plea not guilty. United States agt. Joseph P. Altman; sentence suspended and personal recognizance taken. United States agt. John F. Adams; false pretenses; plea guilty; sentence jail ten months. United States agt. W. B. Drake; forgery; nolle pros. United States agt. Arthur Lee; robbery; sentence penitentiary for one year and one day. # BANKRUPTCY COURT.-Justice Anderson. In re George C. Hough; adjudication and reference to W. M. Hallam, referee. In re John Ridout; trustee authorized to pay certain sum for certain bonds. In re Clarence H. Herr; adjudication and reference to E. S. McCalmont ordered. # PROBATE COURT.-Justice Stafford. Estate of Ephraim A. Greenough; order confirming sale. Attorney, B. H. Loucks. Estate of Stephen P. Quickenbush; order for additional bond of $2,000. Attorneys, Tucker & Kenyon. Estate of Eleanor J. Cooper; order to deliver legacies. Attorney, H. C. Stewart. In re Samuel Shellabarger; petition to increase allowance. Estate of E. A. Greenough; order for additional bond of $500. Attorney, B. H. Loucks. Estate of Martha A. Cruit; will admitted to probate and letters of administration c. t. a. granted to Alice A. Cruit; bond, $2,000. Attorney, George C. Meigs. Estate of Mary J. Cullen; petition for probate of will filed. Attorneys, Sheehy & Hogan. Estate of Nathaniel Carusi; rule to show cause against administratrix. Attorney, Chas. F. Carusi.

6. June 27, 1905 Evening Star Washington, DC

Article from Evening Star, June 27, 1905

Click image to open full size in new tab

Article Text

# Trial Resumed Today in Criminal Court No. 1. # SYNOPSIS OF EVIDENCE TESTIMONY FOR DEFENSE TO BE COMMENCED TOMORROW. Government Witness Mead Relates Circumstances Attending a Transaction at a Local Bank. The trial of Andrew A. Lipscomb, prominent as a member of the local bar, accused of embezzlement under section 841 of the code of law of the District of Columbia, was resumed this morning in Criminal Court No. 1. The hearing was adjourned last Thursday until today. Mr. Lipscomb and Thomas M. Fields, a local lawyer, were indicted jointly for the embezzlement of nearly $16,000 of funds of the Washington Beneficial Endowment Association, placed in their keeping as receivers of the association. Mr. Lipscomb moved for a severance and the motion was granted. Fields was tried several weeks ago. The verdict in his case was "guilty." Attorneys R. Walton Moore of Virginia and F. Edward Mitchell of this city were joined today as counsel for the defense by Maj. Holmes Conrad of Virginia. United States Attorney Beach and Assistant United States Attorney Easby-Smith are conducting the prosecution. Among the witnesses called in behalf of the government today were William H. Saunders, a real estate dealer; David H. Mead, a patent attorney, who appeared as a witness for the defense during the Fields trial, and William Oscar Roome, sr., president of the American Savings Bank throughout its active existence from 1897 to 1901. The bank is now in the hands of receivers. Apparently the most important testimony produced by the government today was that of Mr. Mead. His statement, which was similar to that given by him during the Fields trial, was that September 8, 1903, he was with Fields when the latter drew a sum of money from the Washington Loan and Trust Company, saw Fields place $1,000 in an envelope and witnessed him deliver the envelope containing the money to Lipscomb, who was waiting for it at Fields' office. The indications are that the trial will occupy the attention of the court through the remainder of this week. The defense may open tomorrow. General interest in the proceedings is being manifested, particularly by members of the bar. # First Witness Called. The first witness called today by the prosecution was Wm. H. Saunders, a local real estate dealer. He testified that he had made a loan of $1,800 for one of his clients, a lady named Henry, to Mr. Lipscomb. The loan was reduced to $1,500. Then, November 15, 1901, Mr. Lipscomb made a payment of $1,000 on the principal and interest amounting to $57.56. The purpose of the prosecution was to show that about the same date withdrawal was made of money from the Lipscomb-Fields receivership account with the Washington Loan and Trust Company. On cross-examination Mr. Saunders stated that the loan was well secured; that he has known Mr. Lipscomb for at least fifteen years, and that Mr. Lipscomb and himself and co-trustees of the Holmead Manor property, and as such have had the use of a fund varying in amount from $150,000 to $250,000. David H. Mead, a patent attorney, who testified as a witness for the defense during the trial of Thomas M. Fields, was next called by the prosecution. He repeated his testimony given during the Fields trial, to the effect that September 8, 1903, he accompanied Mr. Fields to the Washington Loan and Trust Company, where Mr. Fields cashed a check and placed $1,000 in an envelope. Returning to Mr. Fields' office the envelope containing the $1,000 was handed to Mr. Lipscomb, who was waiting there. Mr. Lipscomb left with the money. The defense, on cross-examination, brought out that Mr. Mead was seen on the street with Mr. Fields last Saturday. The witness denied that he had heard Fields say, while dining with the witness and a lady at the Shoreham Hotel in May, 1904, that he was a defaulter to the extent of $16,000, and intended to abscond. William Oscar Roome, sr., who, from 1897 to 1901, was president of the American Savings Bank, which is now in the hands of receivers, was also called upon by the prosecution to testify. He was examined regarding the details of an account Fields and Lipscomb had with the American Savings Bank. # Purpose of the Prosecution. The prosecution undertook to show by Mr. Roome that money drawn from the Lipscomb and Field receivership fund was deposited to the private account of Lipscomb in the American Savings Bank, and that some of the deposits to Lipscomb's personal account were coincident with the withdrawal of funds from the receivership accounts of Lipscomb and Fields, both with the Washington Loan and Trust Company and with the American Savings Bank. The witness declined to express an opinion as to the handwriting on a certain deposit slip. The prosecution was attempting to show that the handwriting was that of