Click image to open full size in new tab
WASHINGTON, June 3.-Comptroller Eckels today received a telegram stating that the First National Bank of Pello, Ia., had closed its doors. Bank Examiner Howard was placed in charge. The bank has a capital of $50,000. The cause of the suspension is not known.
Click image to open full size in new tab
WASHINGTON, June 3.-Comptroller Eckels is informed that the First National Bank of Pella, Iowa, capital $50,000, closed its doors to-day. Bank-Examiner Howard has been placed in charge.
Click image to open full size in new tab
WASHINGTON, June 3.-Comptroller Eckels today received a telegram stating that the First National bank of Pella, Ia, had closed its doors. Bank Examiner Howard was placed in charge. The bank has a capital of $50,000. The cause of the suspension is not known.
Click image to open full size in new tab
SELECTED HAWKEYE MENTION THE PELLA BANK INSOLVENT. Later Developments Bring to Light a Bad State of Affairs. PELLA, June 6.-The First National bank is hopelessly insolvent. Excitement runs high, while hundreds of creditors swarm in the streets. The concern known as E. R. Cassatt & Co., or the time note swindle, is alleged to have been instituted to deceive and rob the people by issuing paper which they supposed was issued by the bank, which read, "The Office of E. R. Cassatt & Co.," and in this way he deprived the stockholders of a share by offering a better rate of interest. Thousands of dollars of this worthless paper has been placed in the hands of collectors. The resignation of Cashier J. H. Stubenrauch was not accepted, as his friends feel that while he was aware of the existing state of affairs, and had been used as a tool, but for fear of his own life he refused to speak. The whole affair is without question one of the rottenest in central Iowa. The latest report places the loss considerably above $100,000. The bank will go into the hands of a receiver. Those in a position to know say it could not be worse. Senator Cassatt's condition is very favorable for recovery.
Click image to open full size in new tab
First National May Be Placed in as Receiver's Hends. Washington. June 4.-Comptroller Eckels said today he would probably have to place the First National Bank of Pella, Ia., in the hands of a receiver. Bank Examiner Howard, who is now in charge of the bank, will probably be made temporary receiver pending an exhaustive examination of the bank's condition. The fact that President Cassett committed suicide as the result of losses sustained in speculations causes suspicion that the bank funds may not be intact.
Click image to open full size in new tab
The First National Bank at Pella, Iowa, is closed. E. R. Cassell, its president, lost $14,000 gambling, and the bank couldn't stand the pressure. Cassell has since cut his throat, but is not dead. One of Cleveland's "sound money" postmasters, at Breckinridge, Texas, is short $2,000. The money that he stole is not good in "Yurrup," either. C. L. Woodbridge & Co, importers of dress goods, trimmings, etc., New York, have failed, owing $200,000. They probably understand by this time that money that is good in "Yurrup" don't make business hum-unless there is plenty of it. The Stevens cotton Mills, Lancaster, Pa., have failed owing about $100,000. Single standard dollars don't go very far in the struggle for business existence. Chas. W. Gryne, "sound money" dude and all round sport, left Richmond, Va, a few days ago by thelight of the moon, after overdrawing his bank account to the tune of $600. The Milford, N. H., Savings bank has suspended payments. It claimsto have about $900,000 in deposits, but cannot realize on securities to pay pressing demands. There it is. Se. curities are so low. Well, didn't you goldbugs make 'em low! Now sweat. Hard times and "sound money" has made Birmingham. Ala., too poor to pay the interest on her city bonds. J. M. Heffner, agent for .Adams Express Company and C. B. & Q R.R, at Rock Island, Ill., has gone with $2,500 dollars good in Yurrup. W. W. Taylor, the "sound money" Treasurer of South Dakota, who ran away with $367,000 State money on the 7th of last January, has voluntarily returned and will be tried. He has turned over all his property to his bondsmen. The State offered a reward of $20,000 for his arrest, but detectives failed to locate him.
Click image to open full size in new tab
A Summary of Important Events PERSONAL AND GENERAL THE attorney general of England the 17th. to grant the the ap rlication used. of Sir Edward Clarke for release of Oscar Wilde on the which ground be that the indictment under was tried and convicted was defective 70, KRIFER and wife. aged were JACOB horribly and probably the fatally 18th, , burned at Wooster, O., on a carelessness in lighting through rasoline store The woman and was burned about the body and head. husband, in endeavoring to carry the i the stove out her of the house. threw burning fluid all over himself A WASHINGTON dispatch of the 17th there is reason to believe that the ays States government will have United at a distant day. to give an other occasion. interpretation of the Monroe acquisiapplicable to the doctrine of an as island off the coast of Vene- for zuela. tion to be used by Germany naval station. COMPTROLLER ECKELS, on the of 18th. the appointed R R. Beard receiver First national bank of Pella, before 1a. which failed about two weeks Two HUNDRED weavers employed Amesbury, Hamilton mills in for Mass. the went on strike. on the 18th. a 10 per cent. increase of wages. Ia., on TERRIFIC storm struck Kenwood. Mrs. A the 17th. The house of John Rose Rose was demol ished, and Mr. Rose shoulder died from injuries dislocated. received. Their baby had carried some distance from the a house. was but was found wrapped in quilt unharmed PRESIDENT CLEVELAND arrived the at Buzzard's Bay, Mass., on board the yacht Oneida at 5:35 o'clock on morning of the 18th FOUR men attempted to rob the Ex national bank of Colorado of change Col., on the 19th One Springs, had. however, weakene their number a tip. and and given the authorities bank the robbers entered the when found thems looking into they of the sheriff and bis deputies the revolvers who were waiting for them All were arrested. COUNT ERICH Kit MANNSEGG, governor will undertake to of Lower Austria, of preside over a temporary cabinet construction. Count Kilmannneutral is Protestant, and necessarily meets segg with opposition which he nor if colleagues could long withstand his administration were undertaken his with an idea of its virtual permaneney THE Western Schnetzenbund began their annual shooting fest at Milwankee on the 19th. There were sharp Chishooters present from Cineinnati, Omaha, St. Paul. Minneap and cago, other cities numbering about 150 se SIXTY men were killed and three riously injured by an explosion of pow der in the baliste factory at Avigliana, Italy, on the 19th The explosion wa of caused by the carelessness of some the victims Jous CURTIN, the Irish dynamiter w ho confined in Portland prison, will his the United States shortly after for release, which will take place almost immediately. THE Tippecanoe Memorial association, on the 19th, observed. at Lafayette. Ind. the eighty-fourth arniversary of the battle of Tippecanoe, when Gen. William Henry Harrison defeated the Indian warriors under the Prophet. half-brother to the celebrated chief, Tecumseh. NEARLY all the heads of the bureaus of the war department, with Gen. Ruger. on the 19th, viewed and ap de the new regimental flag proved signed by Assistant Secretary of War Doe. A sample flag was in Gen. Doe's office, and all agreed that it was much the more tasty and better adapted to service than the flag now in use. & THE north-bound Missouri, Kansas Texas St. Louis flyer, which left Houston, Tex., on the night of the 19th, Tex. was badly wrecked at Eureka, The conductor walked back to Houston and reported that five coaches in the loaded with passengers were ditch He feared many were badly in jured His porter was missing A STATEMENT prepared at the treasdepartment shows the aggregate receipts ury from internal revenue sources during the eleven months of the present fiscal year, ended May 30, 1895, to have been $131,420,636 gain of about $89. 400 over the fiscal period last year. F.T. ATKINS ex-president of the Colorado savings bank of Denver. and Charles a Atkins, ex -cashier of the the same institution, were arrested, on 20th, under indictments charging them with receiving deposits in a bank know ing it to be insolvent. Os the 19th Judge Barrett. in the New York court of oyer and terminer. sentenced ex Police Inspector William W. McLaughlin, CODE icted of extortion, two years and six months in state's urison. COMMODORE BUNCE has been appointed to the command of the North Atlantie squadron. to succeed Admiral Meade Is consequence of the disorderly scene which occurred in the Italian chamber of deputies on the 19th, a motion was prepared and signed by a large number of the deputies of the majority, asking that the procedure of the chamber be modified so as to permit the of deputies guilty of violent acts in the chamber. The motion was referred. on the 20th. to the permanent committee on procedure. HARRY HAY ARD. who was to have on been hanged at Minneapolis, Minn. the 21st, for the murder of Catherine has been granted a stay of exeGing. for thirty cution by the supreme court upon condition that the case be argued days, during this term. which ends July 3. VOTE on the school debate was reached A in the Manitoba legislature on the evening of the 19th. All the amendments were voted down. and Manitoba's answer. refusing to re-establish separate schools. was adopted. Ar 1:30 o'clock on the morning of the 20th fire destroyed about $200. 000 worth of property belonging to the Seattle (Wash.) Consolidated Street Railway Co. The company's powerhouse was totally destroyed, together with twenty five cars The death watch was re-established, on the 20th, over Dr. Robert W. Buchanan, the condemned wife-poisoner, ented in the electrical chair in Sing whose second sentence to be exe-
Click image to open full size in new tab
A Summary of Important Events. PERSONAL AND GENERAL THE attorney-general of England refused, on the 17th, to grant the application of Sir Edward Clarke for the release of Oscar Wilde on the ground that the indictment under which he was tried and convicted was defective. JACOB KEIFER and wife, aged 70, were horribly and probably fatally burned at Wooster, O., on the 18th, through carelessness in lighting a gasoline stove. The woman was burned about the body and head, and her husband, in endeavoring to carry the stove out of the house, threw the burning fluid all over himself. A WASHINGTON dispatch of the 17th says there is reason to believe that the United States government will have occasion, at a distant day, to give another interpretation of the Monroe doctrine as applicable to the acquisition of an island off the coast of Venezuela, to be used by Germany for a naval station. COMPTROLLER ECKELS, on the 18th, appointed R. R. Beard receiver of the First national bank of Pella, Ia., which failed about two weeks before. Two HUNDRED weavers employed at the Hamilton mills in Amesbury, Mass., went on strike, on the 18th, for a 10 per cent. increase of wages. A TERRIFIC storm struck Kenwood, Ia., on the 17th. The house of John Rose was demolished, and Mrs. Rose died from injuries received. Mr. Rose had a shoulder dislocated. Their baby was carried some distance from the house, but was found wrapped in a quilt unharmed. PRESIDENT CLEVELAND arrived at Buzzard's Bay, Mass, on board the yacht Oneida at 5:35 o'clock on the morning of the 18th. FOUR men attempted to rob the Exchange national bank of Colorado Springs, Col., on the 19th. One of their number had, however, weakened and given the authorities a tip, and when the robbers entered the bank they found themselves looking into the revolvers of the sheriff and his deputies who were waiting for them. All were arrested. COUNT ERICH KILMANNSEGG. governor of Lower Austria, will undertake to preside over a temporary cabinet of neutral construction. Count Kilmannsegg is a Protestant, and necessarily meets with opposition which he nor his colleagues could long withstand if his administration were undertaken with an idea of its virtual permanency. THE Western Schuetzenbund began their annual shooting fest at Milwaukee on the 19th. There were sharpshooters present from Cincinnati, Chicago, Omaha, St. Paul. Minneapolis and other cities numbering about 150. SIXTY men were killed and three seriously injured by an explosion of powder in the baliste factory at Avigliana, Italy, on the 19th. The explosion was caused by the carelessness of some of the victims. JOHN CURTIN,the ishdynamiter who is confined in Portland prison, will sail for the United States shortly after his release, which will take place almost immediately. THE Tippecanoe Memorial association, on the 19th, observed, at Lafayette, Ind., the eighty-fourth anniversary of the battle of Tippecanoe, when Gen. William Henry Harrison defeated the Indian warriors under the Prophet, half-brother to the celebrated chief, Tecumseh. NEARLY all the heads of the bureaus of the war department, with Gen. Ruger, on the 19th, viewed and approved the new regimental flag designed by Assistant Secretary of War Doe. A sample flag was in Gen. Doe's office, and all agreed that it was much more tasty and better adapted to the service than the flag now in use. THE north-bound Missouri, Kansas & Texas St. Louis flyer, which left Houston, Tex., on the night of the 19th, was badly wrecked at Eureka, Tex. The conductor walked back to Houston and reported that five coaches loaded with passengers were in the ditch. He feared many were badly injured. His porter was missing. A STATEMENT prepared at the treasury department shows the aggregate receipts from internal revenue sources during the eleven months of the present fiscal year, ended May 30, 1895, to have been $131,420,636, a gain of about $89,400 over the fiscal period last year. F. T. ATKINS, ex-president of the Colorado savings bank, of Denver, and Charles O. Atkins, ex-cashier of the same institution, werearrested, on the 20th, under indictments charging them with receiving deposits in a bank knowing it to be insolvent. ON the 19th Judge Barrett, in the New York court of oyer and terminer, sentenced ex-Police Inspector William W. McLaughlin, convicted of extortion, to two years and six months in state's prison. COMMODORE BUNCE has been appointed to the command of the North Atlantic squadron, to succeed Admiral Meade. IN consequence of the disorderly scene which occurred in the Italian chamber of deputies, on the 19th, a motion was prepared and signed by a large number of the deputies of the majority. asking that the procedure of the chamber be modified so as to permit the suspension of deputies guilty of violent acts in the chamber. The motion referred, on the 20th. to the permanent committee on procedure. HARRY HAYWARD, who was to have been hanged at Minneapolis, Minn., on the 21st, for the murder of Catherine Ging. has been granted a stay of execution by the supreme court for thirty days, upon condition that the case be argued during this term, which ends July S. A VOTE on the school debate was reached in the Manitoba legislature
Click image to open full size in new tab
THE NEWS IN BRIEF.
PERSONAL AND GENERAL
THE case against Actor J. K. Emmet, who recently attempted to kill his wife by shooting her, was dismissed in the San Francisco police court, on the 17th, Mrs. Emmet refusing to prosecute.
JUDGE GAYNOR, in the New York supreme court, granted a mandamus, on the 17th, ordering Mayor Schieren of Brooklyn to grant a license to the Seaside Athletic club.
MR. CHARLES H. CRAMP, of Philadelphia, says the big new ocean steamer St. Louis was not built for a record-breaker, but for a good all-the-year-around vessel.
THE Austrian cabinet decided, on the 17th, to resign in consequence of internal dissensions.
COMMANDER GEORGE IDE of the United States steamer Alert, stationed at Panama, has been relieved of his command by a cable order, transmitted on the 17th. The reason is stated to be that Commander Ide acted in a disrespectful manner toward Admiral Meade when the latter visited the Panama station in the spring.
JAMES V. WALKER, United States attorney for the central district of Indian territory, has tendered his resignation because congress neglected to make appropriation to provide for his salary, among others, and he does not feel disposed to live on credit until an appropriation can be made by the next congress.
A NUMBER of well-known New York society women, on the 17th, organized "The Association for Opposing the Extension of the Suffrage to Women." The purpose of the association is to convince the legislature that the vast majority of their sex do not yearn for the ballot, but desire rather to be saved from their friends."
A WASHINGTON dispatch of the 17th says there is reason to believe that the United States government will have occasion, at a distant day, to give another interpretation of the Monroe doctrine as applicable to the acquisition of an island off the coast of Venezuela, to be used by Germany for a naval station.
A SECOND decree has been received in this country from Rome concerning the obligation of Catholics to remain out of the Knights of Pythias organization. It states that there appears to be no further reason why the decree of last December should not be made public in all dioceses, and all archbishops and bishops are accordingly directed to promulgate the decree without further delay.
THE attorney-general of England refused, on the 17th, to grant the application of Sir Edward Clarke for the release of Oscar Wilde on the ground that the indictment under which he was tried and convicted was defective.
JACOB KEIFER and wife, aged 70, were horribly and probably fatally burned at Wooster, O., on the 18th, through carelessness in lighting a gasoline stove. The woman was burned about the body and head, and her husband, in endeavoring to carry the stove out of the house, threw the burning fluid all over himself.
C. C. TINCHER, of Topeka, Kas., committed suicide at Kansas City, Mo., on the 18th, by leaping from the Hannibal railroad bridge into the Missouri river. He left a letter stating that life was a burden and that he was tired of living.
A TERRIFIC storm struck Kenwood, Ia., on the 17th. The house of John Rose was demolished, and Mrs. Rose died from injuries received. Mr. Rose had a shoulder dislocated. Their baby was carried some distance from the house, but was found wrapped in a quilt unharmed.
FIRE, on the 18th, destroyed the south dry kiln of Bosfield & Co.'s woodenware works at Bay City, Mich., the largest in the world. Loss, $20,000; covered by insurance.
COMPTROLLER ECKELS, on the 18th, appointed R. R. Beard receiver of the First national bank of Pella, Ia., which failed about two weeks before.
TWO HUNDRED weavers employed at the Hamilton mills in Amesbury, Mass., went on strike, on the 18th, for a 10 per cent. increase of wages.
PRESIDENT CLEVELAND arrived at Buzzard's Bay, Mass., on board the yacht Oneida at 5:35 o'clock on the morning of the 18th.
FOUR men attempted to rob the Exchange national bank of Colorado Springs, Col., on the 19th. One of their number had, however, weakened and given the authorities a tip, and when the robbers entered the bank they found themselves looking into the revolvers of the sheriff and 15 deputies who were waiting for them. All were arrested.
COUNT ERICH KILMANNSEGG, governor of Lower Austria, will undertake to preside over a temporary cabinet of neutral construction. Count Kilmannsegg is a Protestant, and necessarily meets with opposition which he and his colleagues could long withstand if his administration were undertaken with an idea of its virtual permanency.
THE Western Schuetzenbund began their annual shooting fest at Milwaukee on the 19th. There were sharp shooters present from Cincinnati, Chicago, Omaha, St. Paul, Minneapolis and other cities numbering about 150.
SIXTY men were killed and three seriously injured by an explosion of powder in the baliste factory at Avigliana, Italy, on the 19th. The explosion was caused by the carelessness of some of the victims.
JOHN CURTIN, the Irish dynamiter who is confined in Portland prison, will soon
Click image to open full size in new tab
Chicago, April 24.-Serious charges are made in a declaration filed to-day in the Federal Court in the suit of Robert R. Beard, receiver of the First National Bank of Pella, Iowa, against the commission firm of Milmine, Bodman & Co., of Chicago and New-York, members of the Board - Trade and Stock Exchange of those cities. George Milmine, Charles E. Milmine and Edward C. Bodman, of the firm, are residents of New-York City. The suit is brought against the firm as brokers for E. R. Cassatt, who was president of the failed bank, claiming $50,000, which, It is alleged, Cassatt took without authority from the funds of the bank on deposit at the National Bank of Illinois, in this city, and lost it in speculation on the Board of Trade, the defendants making the deals for him.
Click image to open full size in new tab
Decision by Judge Grosscup in the Pella (Ia) Bank Case.
CHICAGO, April 19.-Judge Grosscup, in the United States circuit court, handed down a decision in favor of D. R. Beard, receiver for the First National bank of Pella, Ia., against Milmine, Rodman & Co., and C. E. Congdon & Co., stock brokers in Chicago. The suit was brought by the receiver to recover funds which E. R. Cassat, president of the bank, had paid to the brokers before the failure of the bank in order to speculate on the board of trade. The decision of Judge Grosscup, unless it is reversed by the higher courts, establishes precedent in recovering bank funds spent in such a manner.
The grounds for bringing the suit were that the defendants knew the money was being lost and should have ascertained whether it belonged to Cassat or to some institution with which he was connected. About $23,000 is involved.
Click image to open full size in new tab
CHICAGO, April 19.-Judge Grosscup in the United States circuit court, handed down a decision in favor of R. R. Beard, receiver for the First National bank of Pella, Ia., against Milmine, Bodman & Co., and C. B. Congdon & Co., stock brokers, in Chicago.
The suit was brought by the receiver to recover funds which F. R. Cassatt, president of the bank, had paid to the brokers before the failure of the bank in order to speculate on the board of trade. The decision of Judge Grosscup, unless it is reversed by the higher courts, establishes a precedent in recovering bank funds spent in such a manner. The grounds for bringing the suit were that the defendants knew the money was being lost and should have ascertained whether it belonged to Cassatt or to some institution with which he was connected. About $23,000 is involved.
Click image to open full size in new tab
Decision by Judge Grosscup in the Pella (Ia.) Bank Case.
CHICAGO, April 20.-Judge Grosscup, in the United States circuit court, handed down a decision in favor of D. R. Beard, receiver for the First National bank of Pella, Ia., against Milmine, Rodman & Co., and C. E. Congdon & Co., stock brokers in Chicago. The suit was brought by the receiver to recover funds which E. R. Cassat, president of the bank, had paid to the brokers before the failure of the bank in order to speculate on the board of trade. The decision of Judge Grosscup, unless it is reversed by the higher courts, establishes a precedent in recovering bank funds spent in such a manner.
The grounds for bringing the suit were that the defendants knew the money was being lost and should have ascertained whether it belonged to Cassat or to some institution with which he was connected. About $23,- mnis inΟΞΏΞ»Ο ΞΏΞ»
Click image to open full size in new tab
Bank Directors Not Liable for President's Loss on Board of Trade. A decision involving an important point in transactions on the Board of Trade was handed down in the United States Court of Appeals in Chicago May 20. In sustaining judgments formerly given against the plaintiffs in error in the lower court, the judges held that the directors of a bank are not liable for the mismanagement of funds by the president who had taken advantage of his position to speculate on the Board of Trade. The Court denied the appeals of three Chicago brokers against whom judgments had been given in favor of Robert R. Beard, receiver of the First National Bank of Pella, Iowa, for money lost. in their firms by the president of the bank.