1933. Capital Savings Bank (Washington, DC)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
April 12, 1902
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini
Short Digest
ced5f8ea

Response Measures

Accommodated withdrawals, Partial suspension

Other: Receivers appointed and assets later sold; multiple lawsuits by depositors and receivers' suits against officers.

Description

Articles describe an initial rumor-driven flurry in April 1902 (withdrawals but demands met), followed by a quiet run and heavy withdrawals in fall 1902 leading the bank to suspend payments and invoke the sixty-day rule (suspension dated November 24, 1902). Receivers were appointed shortly after (court-appointed receivers by early January 1903) and receivers proceeded to liquidate assets and pursue officers/insiders for large overdrafts. Bank was operated as a partnership per later suits. Cause of run/suspension tied to depositor withdrawals prompted by rumors and loss of confidence.

Events (5)
1. April 12, 1902 Run
Cause
Rumor Or Misinformation
Cause Details
April 1902: rumor and lawsuit alleging connection with Industrial Building and Loan Association produced a flurry of withdrawals though demands were met.
Measures
All demands presented at the time were met; every check honored; bank stated business continued.
Newspaper Excerpt
a temporary flurry was set on foot among the bank's many depositors by a rumor that the institution was embarrassed, if not insolvent...the breeze blew over
Source
newspapers
2. November 1, 1902* Run
Cause
Rumor Or Misinformation
Cause Details
A 'quiet run' and several months of withdrawals/reduced deposits in fall 1902 led to heavy withdrawals and loss of normal seasonal recovery.
Measures
Directors required sixty days' notice for withdrawals and stopped receiving new deposits; bank remained open to receive/renew notes.
Newspaper Excerpt
This fall...there has been a quiet run on the bank, and the directors felt It expedient to announce that sixty days' notice would be required
Source
newspapers
3. November 24, 1902 Suspension
Cause
Rumor Or Misinformation
Cause Details
Suspension declared because withdrawals had been unusually heavy (a continuation/escalation of the quiet run/loss of confidence). The bank invoked the 60-day rule and remained open to receive/renew notes but ceased paying deposits immediately presented without notice requirement. (Article explicitly states suspension date November 24, 1902.)
Newspaper Excerpt
The Capital Savings Bank...suspended payment this morning...We have asked the depositors for sixty days in which to meet the payment of checks
Source
newspapers
4. January 8, 1903 Receivership
Newspaper Excerpt
Justice Hagner appointed three receivers to take charge of the assets of the institution...the receivers...will take charge of the assets of the bank. The receivers having been appointed, it is now probable that the directors represented by Messrs. Lambert and Baker will make a demurrer to the complaint filed by Dr. Warfield, and also push the matter to a hearing on their answer to the petition, which will be filed within a few days.
Source
newspapers
5. April 1, 1903 Other
Newspaper Excerpt
report of the receivers of the Capital Savings Bank...shows that the officers in charge of its affairs were indebted to the institution in the sum of $47,398.04 when payment was suspended last November. ... Henry E. Baker...notes and overdrafts aggregating nearly $40,000.
Source
newspapers

Newspaper Articles (23)
1. April 5, 1902 The Evening Times Washington, DC
Article from The Evening Times, April 5, 1902

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Capital Savings Bank and Industrial Building and Savings Company. ALLEGED TO BE INSOLVENT Said to Be Practically One Concern and the Money Raised by the Building Company Used as the Funds of the Banks-Injunction Wanted. Suit was instituted in the Supremie Court of the District of Columbia this morning by Messrs. Leckie and Fulton, attorneys, in behalf of Daniel Jordan against the Industrial Building and Savings Company, the Capital Savings Bang, and their officers and directors. The appointment of a receiver and the injunetion of the officers against the disposal of any of the assets are asked, based on the allegation that both concerns are insolvent. . Both the bank and the building and savings company were organized, and have been and are conducted by colored men. Their officers, directors, and customers are colored. The bank is probably the only one of its kind in the world, and as such has figured frequently and prominently in various articles on the progress and advancement being made by the colored race. Officers of the Concerns. The officers of the Industrial Building and Savings Company are Lewis H. Douglass, president: Robert H. Terrell, vice president; Henry E. Baker, secretary; John H. Pierre, treasurer; Leonard C. Bailey, John R. Francis, Andrew F. Hilyer, W. Scott Montgomery, William V. Tunnell, James Storum, Jerome A. Johnson, and Arthur S. Gray, directors. The officers of the Capital Savings Bank are John R. Lynch, president; Jerome A. Johnson, vice president; Douglass B. MeCary, cashier; Robert H. Terrell, secretary, and Leonard C. Bailey treasurer. If the bank has any other officers or directors, Jordan alleges, he does not know it. Aileged to Be Practically One. The offices of both companies are 10cated at 609 F Street northwest, and, Jordan alleges, the bank is conducted by its officers in conjunction with the officers of the Building and Savings Company He declares the institutions are practically one, and are maintaining partly, if not altogether, a kind of banking business rather than a building and loan association. He asserts that the building company exists more in name than in fact, and that its name is used to obtain money for the operation of the bank. The cause of Jordan's suit is found in the allegation that the building company

2. April 12, 1902 The Washington Bee Washington, DC
Article from The Washington Bee, April 12, 1902

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THE CAPITAL SAVINGS BANK All Demands Promptly Met-No Connection with the Building Association. The malicious falsehood that was circulated this week that the Capital Savings Bank had a suit to defend, failed to accomplish the object of the enemies of the bank. There is no connection, whatever, or association between the officers of the bank and the Building Association; and again, the man, Jordan, is not a stock-holder in the bank, hence he could not ask for the appointment of a receiver if he had money on deposit. The Capital Savings Bank is composed of men of highest integrity and honesty. There is not a more honorable man in the city than the President, Hon. John R. Lynch, and its Treasurer, Mr. Lemuel C. Bailey, is one of the most reliable men in this city The Cashier, Mr. D.B. McCary, has made this institution a success, and as a man of strict business qualities, he is that man. If there was a run on the bank after the suit had been filed, every demand has been met and every check honored that had been presented. During the financial panic several years ago, the Capital Savings Bank was one among the many hundred that withstood that panic and the conduct of the business of the bank commanded the admiration and established the confidence of its patrons in it. Every demand has been.met and business continues at the same old stand.

3. April 12, 1902 The Colored American Washington, DC
Article from The Colored American, April 12, 1902

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SATURDAY, APRIL 12 1902. THE CAPITAL SAVINGS BANK. The absorbing topic of the week has hovered about the affairs of the Capi tal Savings Bank and its reported re' lations with the Industrial Building and Loan Association. A temporary flurry was set on foot among the bank's many depositors by a rumor that the institution was embarrassed, if not insolvent. The sensation grew out of a suit for the appointment of a receiver, brought by one Daniel Jordan, who alleged that a sum of $110 was due him and unpaid. The renresentation was made that the building association and the bank were identical concerns and therefore jointly liable. Hence, his application for an accounting. The breeze blew over as soon as it developed that the bank and association were in no way connected, and that the com plainant had not so much as made a demand upon the bank for the amount, alleged to be due him by the Association. An authoritative statement to this effect, given out by the bank's directors, through Secretary Robert H. Terrell, has quieted all fears as to the bank's stability and the nor mal condition of absolute confidence has been restored. As a matter of fact, the Capital Savings Bank is one of the staunchest financial concerns in the country, and for fitteen years has stood here, a proud object lesson to all the people of the business capacity of the Negro race. It is conducted on legitimate lines by men of experience, wealth, 80cial standing and recognized integrity. It weathered the depression of 1893 without a quaver, and won the admiration of Washington's heaviest finaneiers, It is unfortunate that the institution should be drawn into a matter with which it had nothing to do, and the ineident emphasizes the caution with which a Negrocomplainant should proceed when the honor of reputable race men is at stake and the lite of a stand -

4. November 26, 1902 The Evening Times Washington, DC
Article from The Evening Times, November 26, 1902

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Local Institution for Colored People Takes Advantage of Sixty-Day Law to Meet Check Demands. TO RECEIVE NOTES DUE Secretary Terrell Declines to Make Statement of Bank's Affairs Further Than That Withdrawals Were Very Heavy. The Capital Savings Bank, an institution conducted by colored men for negro depositors, at 609 F Street northwest. suspended payment this morning. The doors of the bank, however, were not closed, the bank remaining upon to receive payment of notes falling due. Robert H. Terrell, secretary of the bank. said this afternoon that he was not prepared to make a statement as to the financial condition of the bank, or to give a reason for the suspension of the payment, further than that the recent withdrawal of deposits had been unusually heavy. with a corresponding falling off in deposits. Withdrawals Unusually Heavy. 'Heretofore," said Mr. Terrell, "the bank deposits have increased in the fall with the return of teachers and clerks from their vacations, but this did not happen this year. The board of directors will have a meeting tonight and endeavor to formulate a plan which I hope will be satisfactory to the depositors. 1 do not believe there will be a loss of a penny to the depositors. I feel quite confident that the affairs of the bank will be adjusted to the entire satisface tion of all concerned, and the bank resume business on a firm foundation. Owns Considerable Realty. "We own the building in which the bank is located and other real estate, in addition to other assets represented by outstanding bills and notes. We have asked the depositors for sixty days in which to meet the payment of checks, and in the meantime, of course, while We are not receiving deposits, the bank will remain open to receive payment/of notes and to renew the same where it is necessary." The bank is capitalized at $50,000. The officers and directors comprise: President, John R. Lynch; vice president. J. A. Johnson: cashier, D. B. MeCary; treasurer, Leonard C. Bailey; secretary, Robert H. Terrell; directors, L. C. Balley; Johr R. Lynch, Wyatt Archer, Jerome A. Johnson, John A. Pierre, H. E. Baker, W. McKinley, W. S. Montgemery, J. T. Bradford, A. W. Tancil, W. S. Lofton, H. H. Wilson, Robert H. Terrell, Robert Williams, Dr. William A. Warfield. Director Baker's Statement. The Capital Savings Bank is the only one of its kind in the city, and colored people have taken much pride in the institution. Henry E. Baker, one of the directors of the bank, said this afternoon that he believed the present embarrassment would be successfully met, and that the depositors would not lose a cent.

5. November 26, 1902 Evening Star Washington, DC
Article from Evening Star, November 26, 1902

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MUST GIVE DUE NOTICE REQUIREMENT OF DEPOSITORS IN CAPITAL SAVINGS BANK. The Institution Remains Open for Transaction of Business-President Terrell's Statement. The depositors of the Capital Savings Bank, an institution managed by colored men at 605 F street, and mainly patronized by colored people, have been informed that they must give a notice of sixty days of their intention to withdraw money. At the same time no deposits are received. The bank, however, continues open as usual. The president of the bank is Robert H. Terrell, one of the justices of the peace for the District of Columbia. He was seen in his office this morning by a Star reporter, and had the following to say in regard to the institution of which he is the head: "For some cause or causes the character of which I cannot fully determine now," he said, "a withdrawal of money on the part of depositors in the Capital Savings Bank has been going on for several months. At first this condition did not alarm the officers of the bank, because it is usual in the summer months for the withdrawals to be large. The school teachers, many of whom deposit with us, do not draw a salary during this period, and they generally use up a large part of their surplus. The clerks in the departments generaily take their vacations at that time, and their withdrawals in consequence are always considerable. These losses are usually recovered in the fall months, when the teachers and clerks are back at their work. A Quiet Run on the Bank. "This fall, instead of the conditions being normal, there has been a quiet run on the bank, and the directors felt It expedient to announce that sixty days' notice would be required from those intending to withdraw deposits. Such a notice was given Monday afternoon, but the bank remains open for the transaction of business, such as the collection of notes belonging to the bank and to depositors. No further deposits have been received. It is my personal belief that the depositors will not lose a cent. The directors will meet tonight and endeavor to formulate some plan for the future which it is hoped will meet the approval of the depositors. "For many years the officers of the bank have struggled to maintain this institution. They were influenced by the motive that as it was an institution established by colored men and managed by colored men they had a feeling of race pride to see it succeed. The members of the board of directors, the president, secretary and treasurer have received no compensation whatever, but have given their services without charge. "The bank was established in 1887, and Milton M. Holland was the first president. Some of the members of the present board were members of the first board. "Owing to the circumstances as above outlined the amount now on deposit in the bank is not large. On the other hand, the bank owns the building which It occupies, and other real estate, in addition to the bank paper, which is good, SO that altogether I think the assets will make a good showing."

6. November 27, 1902 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, November 27, 1902

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Lansburgh & Bro., 420 to 426 Seventh Street, WASHINGTON, D. C. LOCAL BREVITIES. The weather has been fair and cool today. Two lodgers were at the station house last night. The Circuit Court for the city, Judge Nicol, will meet on Monday. We are indebted to Mr. Jas. R. Caton, Delegate from this city and county in the legislature, for copies of documents of interest to the people of this city. The Capital Savings Bank in Washington managed and patronized by colored people, suspended payment yesterday. No statement of assets and liabilities will be forthcoming until a meeting of the stockholders is held. John Sinclair, colored, who was convicted of murder on Wednesday last in the Sup reme Court of the District of Columbia, was yesterday sentenced to be hanged on Friday, January 30, 1903, in the District jail, between the hours of noon and 2 o'clock in the afternoon. Another delay has occurred in the extradition proceedings in the case of John Lawrence O'Brien, who is under indictment in Washington, for embezzlement of $5,400 from Mr. Frank Hume. The Washington authorities do not understand the cause of the delay on the part of the San Francisco authorities. Marriage licenses were issued in Washington yesterday to Frederick R. Stryker, of Winchester, and E. May Rawlings, of Silcott Springs, Va.; Lewis H. Fletcher and Flossie I. Hagen, both of Alexandria county, and Harry-A. Parker and Nellie J. Andrews, both of Essex county; Richard C. Weeks, Westmoreland county, and Annie Weeks, Takoma, Md.; J. Sterling Moran and Nellie Bryant, both of Ashburn. Albert E. Fage, of Arlington, has been appointed an apprentice draftsman in the Navy Department. Mr. Robert Travers will have bass, mackerel, trout and tailors in market tomorrow.

7. November 29, 1902 The Washington Bee Washington, DC
Article from The Washington Bee, November 29, 1902

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THE CAPITAL SAVINGS BANK. Suspends for Sixty Days- Many are Effected and Declare That They are Embarrassed. A rumor was circulated on Tuesday afternoon that the Capital Savings Bank that has been conducted so succes fully for a number of years by several well known citizens, has suspend Ibusi ness and the doors would be close I for 60 days. This rumor was verfied when a BEE representative called at the bank and found that the report was true There Were many of the depositors who took the suspension very seriously. Among the members of the bar who seem to be visably effected was Attorney Perri Frisby, while Attorney W. L. Pollard took the matter very philosophically. Dr. Hughes it is said has a very large deposit in the bank. while some others only have small depssits. Those who are doing the most talking are the small depositors who have not much over one hundred dollars, while the large depositors are saying very little, It is quite evident that the bank will resume business aud within sixty days all depositors, it is claimed will be paid dollar for dollar. Just what caused the suspension, is not yet ascertained. It is certainly a loss to the people who had so mnch confidence in the institution as being

8. November 29, 1902 The Colored American Washington, DC
Article from The Colored American, November 29, 1902

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THE CAPITAL SAVINGS BANK. The temporary embarrassment of the Capital Savings bank comes as a surprise and shock to the friends of Negro enterprise everywhere. That a financial corporation which had successfully weathered the panic of 1893 should fail in the high tide of prosperity makes the situation all th more difficult to understand. It appears, however, that for some time there has been a quiet drain upon the resources of the bank and the reserve had become so low that rather than run further risk of the funds of the depositors or the company, it was decided best to close the doors of the institution for at least sixty days, at which time it is hoped that business can be safely resumed. The managers of the Capital Savings bank are among the best citizens and are gentlement of unimpeachable integrity. They have ample means to pay all obligations ten times over and the people who have intrusted funds to their keeping may rest assured that they will receive dollar for dollar. Confidence is everything to the success of a business and we trust that important element can be resorted in time to guarantee a future for this corporation. Its destruction cannot fail to inact injury upon every other concern operated by colored people.

9. December 4, 1902 Gloucester County Democrat Woodbury, NJ
Article from Gloucester County Democrat, December 4, 1902

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In Washington, D. c., the Capitol Savings Bank, managed by Negroes for Negro depositors has been forced to suspend. In the world of finance as well as in politities it is not always wise to draw the color line.

10. December 12, 1902 The Seattle Republican Seattle, WA
Article from The Seattle Republican, December 12, 1902

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Had No Race Pride. The suspension of payment by the Capital Savings Bank of for Washington sixty days, because of large withdrawals of deposits, is much to be regretted. Captain John R. Lynch is president of the bank. If it were properly supported by the Afro-Americans of Washington it would easily be one of the strongest banks in the country. We hope that it will soon resume business.-N. Y. Age.

11. December 22, 1902 Evening Star Washington, DC
Article from Evening Star, December 22, 1902

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ASKS FOR RECEIVER. William A. Warfield Brings Capital Savings Bank's Affairs Into Court. Steps to wind up the affairs of the Capital Savings Bank were taken this afternoon when William A. Warfield filed suit for dissolution of partnership, the appointment of receivers and an injunction, certain officers and directors of the bank being named defendants as follows: John R. Lynch, the president; Jerome A. Johnson, the vice president; Robert H. Terrell, the secretary; Lorenzo C. Bailey, the treasurer; Douglass B. McCary, the cashier, and Wyatt Archer, James T. Bradford, William S. Lofton, Whitefield McKinlay, Arthur W. Tancil and Robert Williams, directors and stockholders. The complainant sets forth that he is a stockholder of the bank, the institution, he explains, being organized as a partnership. It is insolvent, declares Mr. Warfield, having suspended payment November 24 last. The complainant, among other things, charges that overdrafts have been made by certain directors. there being one overdraft amounting to $30,000 by one director alone, while the capital stock of the bank is only $50,000. Mr. Warfield, who is represented by Attorneys A. A. Birney and J. H. Stewart, asks that the defendants be enjoined from disposing of any of the assets of the bank, that receivers be appointed to take charge of the same, and that the partnership be dissolved. Justice Hagner issued a rule to show cause returnable January 5.

12. January 8, 1903 The Washington Times Washington, DC
Article from The Washington Times, January 8, 1903

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NEW MOVE EXPECTED IN CAPITAL BANK CASE One Stockholder Said to Have Overdrawn Account. Just How Much Is Not Known. bank, and because of this has no standIt is expected within the next day or two there will be a new move taken in ing in court. They also denied that the affairs of the bank are in the conconnection with the litigation looking to the settlement of the affairs of the dition represented by Dr. Warfield, and said that it would not be for the best Capital Savings Bank. interests of all concerned that the bank On Tuesday Justice Hagner appointed was placed in the hands of a receiver. three receivers to take charge of the The answer made by the four directors assets of the institution. This action referred to was in reply to the rule was taken by the court in connection issued against them to show cause why with the suit of Dr. William A. Wara receiver should not be appointed for field, who asked for their appointment the bank. The receivers having been and also for an injunction to prevent the appointed, it is now probable that the officers of the bank from disposing of directors represented by Messrs. Lamany of the assets. The action on the bert and Baker will make a demurrez petition of Dr. Warfield was also taken to the complaint filed by Dr. Warfield, by consent of counsel interested, with and also push the matter to a hearing the exception of Attorneys Lambert and on their answer to the petition, which Baker, who represent four of the board will be filed within a few days. of directors of the bank. At this time. however, everyone conWhen the proposition to agree as to nected with the affair feels certain that, the appointment of the receivers was no matter what course is pursued, there made it was favorably received by Mr. will be some interesting developments, Lambert, and an agreement was reached It has been insinuated by several perby counsel in relation to the matter. song connected with the bank that at Later, for some reason, the plan was least one of the stockholders has greatchanged, and when the matter of the ly overdrawn his account. No one seems appointment of the receivers was reachto be able. or, at least, willing. to name ed Mr. Lambert informed the court that the person said to have overdrawn, but he had withdrawn as one of the parties all agree that one account has been to the agreement. This, however, did greatly overdrawn. not affect the matter of the appointment It is development in connection with of the receivers at that time, and Atthis that everyone interested in the settorneys John Ridout, Joseph H. Stewart, tlement of the affairs of the bank is and Thomas Walker were named by the looking forward to as a result, of the court. work of the receivers. Before the receivers were appointed It is said the first thing the receivers by the court, and prior to the time that will do when they begin an investigacounsel went into conference for the ourtion of the affairs of the bank is to pose of agreeing to their appointment, employ an expert accountant to assist Lambert & Baker, representing four of them in straightening out the accounts. the board of directors, filed answers on This will be a tedious undertaking, for, their behalf in reply to the petition of it is said, the credits and debits of the Dr. Warfield. They contended that Dr. bank vary in some instances from five Warfield was not a stockholder in the cents to $30,000.

13. January 17, 1903 The Colored American Washington, DC
Article from The Colored American, January 17, 1903

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City Paragraphs Mr. Travis Glascoe is able to be out. Mr. Lewis H. Douglass continues critically ill. Real estate is active among colored Washingtonians. Our Mr. Cooper was in Baltimore last Friday on business. Dr. J. Frank Allen was in Newport, P. I., New Year's Day. Miss Mamie E. Smith has recovered from her recent illness. Mrs. Thomas W. Allen is taking a special course at Howard University. Col. Jas. Hi!! of Mississippi is in the city, the guest of Rev. E. W. Lampton. Mr. Authur Laws and Miss Mary Bumberry have been united in marriage. Mr. and Mrs. Will H. Lacey are now pleasantly domiciled at 1444 T street, N. W. The Pen and Pencil Club will celebrate Douglass Day in splendid style, Feb. 14th. Mr. I. E. Williamson, of Iowa, has been assigned to a place in the 6th Auditor's office. Harry Douglass, son of Major Charles R. Douglass, is achieving disinction at Harvard. Mrs. James H. Washington, of 1526 Pierce Place, is suffering from an attack of neuralgia. Prof. W. H. Ferris returns to-day to Rhode Island, where he is engaged in scientific agricultural work. Lawyer Armond W. Scott has been invited to deliver an address before the Literary Union of Boston. Miss Portia Washington, passed through the city, Tuesday of last week, en route to Bradford Academy. The popular Amphion Glee Club is being urged to repeat their song service, at the Second Baptise Lyceum. Kentucky showed poor appreciation of the herculean efforts of our Col. Henry P. Slaughter in the late campaign. Mrs. Lottie E. Wilson, the artist, was called suddenly to the bedside of her father, at her home in Bay City, Mich. Lawyer Thomas L. Jones has been retained as counsel for James Henson, charged with the murder of Mr. Gozman. Misses Florence Smith and Angelina W. Grimke, of the public schools, report an exceedingly pleasant Xmas week in Boston. Nobody will protest if Charles E. Hail claims that he, alone and unaided, saved the Negro vote in Illinois to prospective Senator Albert J. Hopkins. Work on the new Berean Baptist church has been suspended on account of its funds being "tied up" in the suspended Capital Savings Bank. Complaint of color discripination in the matter of assignments of work and promotions are again heard among employes of the Bureau of Engraving and Printing. Architect John A. Lankford is the recipient of much praise for the beauty and convenience found in the design of the John Wesley A. M. E. Zion church, on 18th street. Bishops Tanner, Lee and many of the officers of the financial committee of the A. M. E. church were in the city last week and were guests at the Financial headquarters. Wednesday, of last week, George W. Scott. son of Elizabeth and Thomas J. Scott, died at the residence of his parents, in Anacostia. The funeral was held Friday at Cambell A. M. E. church. A deed has been placed on record by which Dr. F. J. Shadd, et al., trustees, transfer to Mr. Auther S. Gray, lot 38, block 7. Mount Pleasant and Pleasant

14. January 24, 1903 The Appeal Saint Paul, Minneapolis, Chicago, MN
Article from The Appeal, January 24, 1903

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# The receivers of the defunct Capital Savings Bank of Washington, D. C.,

15. January 24, 1903 The Colored American Washington, DC
Article from The Colored American, January 24, 1903

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ALPHA. NOT A STOCKHOLDER. I have been informed that some persons are connecting my name as a stock-holder in the Capital Savings Bank, now in the hands of receivers. I desire to state positively that I am not a stock-holder. These are the facts: I bought stock eleven - years ago, in June 1891, under special conditions, gave notice to withdraw a month afterwards, in July 1891, and was paid in full by the Company in October 1891. I never was a director, never received a dividend and never attended a meeting of stock-holders. I hereby give notice to the public that my good name will be protected and that my attorney will enter suit for libel both civilly and criminally against any person or persons using mv name in connection with the affairs of this Company. F. J. Shadd, M. D., 901 R St. N. W. Dr. Shadd's notice was served according to the constitution, the same time that my own notice was given, while I was acting Président of the Company. C. B. Purvis, M. D., 1118 Thirteenth St., N. W.

16. February 3, 1903 Evening Star Washington, DC
Article from Evening Star, February 3, 1903

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# JUDGMENT FOR DEPOSITORS. Action Taken Against the Capital Savings Bank. In connection with the proceedings instituted by H. Augustus Guess, a depositor with the Capital Savings Bank, against Jerome A. Johnson and others, directors of that institution, Justice of the Peace Mills has rendered judgment in javor of the plaintiff for $25. Since the bank suspended payment a number of its depositors have filed suit. Mr. Guess' action was the first to be heard. The defendants contended at the hearing

17. February 7, 1903 The Washington Bee Washington, DC
Article from The Washington Bee, February 7, 1903

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SPECIAL NOTICES. I have been informed that some per sons are connecting my name as a stockholder in the Capital Savings Bank, now in the hands of receivers. I desire to state positively that I am not a stockholder These are the facts I boughts stock eleven years ago, in June, 1891, under special condition gave netice to withdraw a month afterwards, in July 1891, and was paid in full by the company in October. 1891. I never was a director, never received a dividend and never attended a meeting of stockholders I hereby give notice to the public that my good name will be protected and that my attorney will enter suit for libel, both civilly and criminally, against any person or persons using my name in connection with the affairs of this company. F.J. SHADD, M. D. 901 R St. N. W. Dr. Shadd's notice was served, ac cording to the constitution, the same time that my own notice was given, while I was acting President of the Company C. B. PURVIS, M. D. 1118 13th St. N. W. CAPITAL SAVINGS BANK NOTICE TO DEPOSITORS. By direction of the court, all depositors are Iequested to promptly present theirbank books for settlement to JOSEPH H. STEWA, T3 Re. ceiver at his office. 609 F st. n.w. JOHN RIDOUT JOSEPH H. STEWART, THOMAS WALKER, Receivers I beg to announce to my many friends and the public that I have opened an office at 913 G street northwest, whe: e I shall continue my Insurance business. 1 shall also give my attention to Patent and Pension claims. Requesting a continuance of past favors, I am Yours very truly, D. B. McCary,

18. March 7, 1903 Evening Star Washington, DC
Article from Evening Star, March 7, 1903

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Get a Copy of The Record for Complete report of the receivers of Capital Savings Bank, office, 12th and Vt. ave. 1t*

19. April 1, 1903 The Washington Times Washington, DC
Article from The Washington Times, April 1, 1903

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RECEIVERS OF CAPITAL SAVINGS BANK REPORT Indebtedness of the Officers and Others in Detail. A report of the receivers of the Capital Savings Bank, filed yesterday, in the Supreme Court of the District, shows that the officers in charge of its affairs were indebted to the institution in the sum of $47,398.04 when payment was suspended last November. The amounts charged against the officers are: John R. Lynch, president, as maker of notes, $1,734.15; as indorser, $176.74, and overdrafts, $431.07. Leonard C. Bailey, treasurer, in his official capacity, $265; maker of notes, $1,450: overdrafts, $1,011.53. Henry E. Baker, director, as maker of notes, $38,468.55; as indorser, $1,217.37. A. W. Tancil, director, as maker of notes, $301.75; indorsed, $613. Douglas B. McCary, cashier, as maker of notes, $475.73. Robert T. Douglas, teller, as maker of notes, $1.68. Robert H. Terrell and John R. Lynch, notes, $1,068. It is stated that Leonard C. Bailey has conveyed to the trustees of the bank real estate valued at $750, on Stoddard Street, as partial security for his indebtedness. A complete list of other debtors to the Capital Savings Bank is also filed as part of the report of the receivers. These vary in amount from $5 to about $500. A letter by Mr. Bailey to the receivers says: "I have acted as treasurer of the bank since 1889, and as superintendent of the building since 1891, to November 24, 1902, and have never received any compensation. At $25 a month the amount due me now is $3,926."

20. May 2, 1903 The Washington Times Washington, DC
Article from The Washington Times, May 2, 1903

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# CAPITAL SAVINGS BANK # AFFAIRS IN COURT The procedings instituted by the receivers of the Capital Savings Bank against Henry E. Baker, for the purpose of having the court to declare void his conveyance to his wife, Violetta C. Baker, of lot 37 in square 640, will play an important part in the settlement of the affairs of the bank. The receivers allege the transfer was made by Baker to his wife with the object of avoiding the payment of certain claims held by his creditors, and of selling the property to the Philadelphia, Wilmington and Baltimore Railroad Company. It is also alleged that among the assets of the Capital Savings Bank are promissory notes and overdrafts made by Baker, aggregating nearly $40,000. The receivers of the Capital Savings Bank ask the court to declare the real estate in question, to be part of the assets of the bank, and that it be credited to the account of the defendant.

21. July 3, 1903 Evening Star Washington, DC
Article from Evening Star, July 3, 1903

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# THE COURTS. Equity Court No. 1-Justice Anderson. Shields agt. Shields et al.; guardian ad litem appointed. Fletcher agt. Fletcher; auditor's report ratified and confirmed. Gannett agt. Payne; time to file complaint's testimony limited. The Lawyer Publishing Company agt. Payne; do. Willis Publishing Company agt. Payne; do. F. J. Smith Company agt. Payne; do. Lane List agt. Payne; do. Kline agt. Kline; cause certified to Equity Court No. 2. Hamilton agt. Hamilton; order for publication. Thomas agt. Johnson; time to file transcript in Court of Appeals extended. Nesbit agt. Standard Butterine Company et al.; sale ratified nisi. Hale agt. Price; cause referred to auditor. Patten et al. agt. Waggaman et al.; decree for sale with American Safe and Trust Company trustee. Equity Court No. 2-Justice Gould. Fox agt. Pitchlynn; guardian ad litem appointed. Slye agt. Slye; further proceedings as to contempt stayed till July 16. Brown agt. Neil; receivers of Capital Savings Bank required to furnish information. Morisi agt. Lanzill; sale decreed. Lynch agt. Richardson; contract of sale confirmed and conveyance ordered. Bankruptcy Court-Justice Anderson. In re Leverett F. Englesby; order for discharge. Circuit Court No. 2-Justice Anderson. Arlington Brewing Company agt. Beach; judgment by default for $576.25. Hall agt. Ballinger; award of execution on judgment of June 18, 1903. Criminal Court No. 1-Justice Pritchard. United States agt. Martin Richardson, conspiracy; recognizance $500 taken, with American Bonding and Trust Company surety. Probate Court-Justice Anderson. In re Bessie C. Bell; Mary E. Bell appointed guardian; bond, $3,000. Estate of John Overheim; order to sell personal property. Estate of John W. Thompson; will filed. Estate of Martha S. Pomeroy; sale of real estate ratified and proof of publication filed. In re Laura E. Talbert et al.; account passed. In re George W. Armstrong et al.; do. In re Catherina Graff; do. In re Lucy R. Thomas; account passed. In re Lillian J. M. Newman; do. In re Katherine O'Connor; do. In re Edwin H. Frazier et al.; do. In re Blanche P. Walker; do. Estate of Kate H. Dyer; do. Estate of Rebecca Hurley; account passed. Estate of George H. Wohlfarth; do. Estate of Robert H. Gunnell; do. Estate of John M. Wilson; do. Estate of Samuel E. Rabbitt; order for publication. Estate of Wm. Wallace; will partly proved. Estate of David Smith; order authorizing repairs. Estate of Enoch G. Beaird; petition for probate of will filed. Estate of Jennine Brummell; order for publication. In re Carrie I. Burkhart; answer filed and testimony ordered taken before Margaret M. Murray, examiner. Estate of George Wright; petition for letters of administration filed. Estate of Harold C. Grant; petition for letters of administration filed. Estate of Mary Downs; will filed. Estate of Mary Knorr; proof of publication. Estate of Emeline D. Lovett; do. Estate of Andreas Theurer; will admitted to probate and letters testamentary granted to Ernest L. Schmidt; bond, $10,000. In re French Walden et al.; inventory filed.

22. July 31, 1903 Evening Star Washington, DC
Article from Evening Star, July 31, 1903

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PRESTON S. SMITH, Trustee, Center Market. jy30-d&ds RECEIVERS' SALE OF VALUABLE IMPROVED AND UNIMPROVED REAL ESTATE IN THE CITY AND IN THE COUNTY OF WASHINGTON, IN THE DISTRICT OF COLUMBIA, AND IN MONTGOMERY COUNTY AND PRINCE GEORGE'S COUNTY, MARYLAND By virtue of an order by the Supreme Court of the District of Columbia, passed on the 24th day of March, 1903, in the equity cause No. 23674, wherein William A. Warfield is complainant and Wyatt Archer et al. are defendants. the undersigned receivers appointed in said cause will offer for sale at public auction at the former banking house of the Capital Savings Bank, No. 609 F street northwest, Washington, D. C., on the FIFTH DAY OF AUGUST. 1903, BEGINNING AT THREE O'CLOCK P.M., the following described real estate in the city of Washington, in the District of Columbia, to wit: Part of original lot No. 2 (2) in square numbered four hundred and fifty-five (455), fronting twentythree (23) feet one and one-half (1½) inches on the north line of North F street ,with an average depth of one hundred and one (101) feet ten (10) inches, and improved by a valuable four-story brick building numbered 609 F street northwest. Sublot forty-one (41) in square five hundred and fifty-seven (557), fronting thirteen (13) feet six (6) inches on Pierce street by a depth of sixty-three (63) feet, and improved by a frame dwelling. The north forty-five (45) feet front on East 11th street by depth of lot four (4) in square nine hundred and eighty-three (983), improved by a frame dwelling. Also the following described real estate in the county of Washington, in the District of Columbia, to wit: Lot nine (9), block five (5); lot eleven (11), block three (3), Ivy City; lots fifty-six (56) to seventy-six (76) in Cottage Hill, and one and twentysix one-hundredths (1.26) acres on Hamilton road. In Prince George's county and in Montgomery county, in the state of Maryland, to wit: Lots nineteen (19) and twenty (20) in block twenty-two (22) in B. F. Gilbert's subdivision of part of the Hoskins lot, and now known as an addition to Takoma Park. A full description of the property in respect of character and improvements will be furnished on application to either of the receivers. Terms of sale as to each parcel: One-third cash. one-third in one year and one-third in two years, or all cash. at the purchaser's option. Deferred payments, if any, to be represented by the promissory notes of the purchaser, dated on the day of sale, bearing interest at the rate of six per centum per annum, payable nemi-annually, and secured by deed of trust on the property sold. A deposit of three hundred dollars on the banking house property and of one hundred dollars on each of the other parcels will be required at the sale. All conveyancing, recording and title examinations at purchaser's cost. If terms are not complied with within ten days from day of sale the receivers reserve the right, If they so elect, to resell the property in respect of which default has been made, at the risk and cost of the defaulting purchaser, after five days' notice in The Evening Star. JOHN RIDOUT, 344 D st. n.w. JOSEPH H. STEWART, 609 F st. n.w. THOMAS WALKER, 506 5th st. n.w., Receivers. THOS. J. OWEN & SON, Aucts. jy24-d&ds

23. March 14, 1904 Evening Star Washington, DC
Article from Evening Star, March 14, 1904

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STOCKHOLDERS RESPONSIBLE. Contention Upheld in Suit by Depositor in Capital Savings Bank. As the outcome of the proceedings instituted by W. Bruce Evans against Jerome A. Johnson and others as stockholders "trading and doing business as the Capitol Savings Bank," a jury in Justice Wright's court this afternoon. rendered a verdict in favor of the plaintiff for $29.92, with interest at the rate of 3 per cent per annum from December 31. 1902. The plaintiff was a depositor in the bank mentioned, and he sued to recover the amount he had on deposit at the time the concern suspended business. It is said that the Evans case was the first of several hundred similar actions to be tried, and that the verdict sustains the contention of the plaintiff that the stock holders conducted the bank as a partnership and, therefore, are responsible to the depositors for the amounts of their deposits. Attorneys A. A. Birney and L. M. King appeared for the plaintiff.