19445. Scandinavian American Bank (Tacoma, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 27, 1923
Location
Tacoma, Washington (47.253, -122.444)

Metadata

Model
gpt-5-mini
Short Digest
fe4633c3541f3942

Response Measures

None

Description

All articles describe the Scandinavian-American Bank of Tacoma as defunct and in receivership/liquidation under Forbes P. Haskell Jr. No article reports a depositor run. The bank remained closed and was being liquidated, with receivership, legal disputes over fees, and asset collections (e.g., Lindeberg suits and repayments). Dates of original suspension/failure are not provided in the clippings; by April–June 1923 the bank is already defunct and in receivership. OCR typos corrected (Scandinavian-American / Scandinavian American used interchangeably).

Events (5)
1. April 27, 1923 Suspension
Cause Details
Articles do not state the immediate cause of suspension/failure; only that the bank is defunct and in receivership.
Newspaper Excerpt
Depositors of the defunct Scandinavian-American Bank of Tacoma may expect the payment of a fifth dividend soon, according to a statement made by Forbes P. Haskell, deputy state bank supervisor.
Source
newspapers
2. May 25, 1923 Receivership
Newspaper Excerpt
Haskell is at present receiver of the Tacoma Scandinavian American bank, and is liquidating its affairs.
Source
newspapers
3. June 6, 1923 Other
Newspaper Excerpt
Judge Card has signed an order directing the receiver of the defunct Scandinavian-American Bank of Tacoma to accept the offer of Jafet Lindeberg ... the receiver stated is practically penniless.
Source
newspapers
4. April 25, 1925 Other
Newspaper Excerpt
Attorney General John H. Dunbar that he was investigating the fixing of attorneys' fees and receivership fees in the liquidation of the defunct Scandinavian American bank of Tacoma.
Source
newspapers
5. May 29, 1925 Other
Newspaper Excerpt
Affidavits by Haskell and Kelly ... charged ex-Gov. Louis F. Hart with asking for a division of the fees to be paid in liquidation of the defunct Scandinavian American bank of Tacoma.
Source
newspapers

Newspaper Articles (11)
1. April 27, 1923 Vashon Island News-Record Vashon, WA
Article from Vashon Island News-Record, April 27, 1923

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WASHINGTON STATE BRIEF NEWS ITEMS Principal Events of the Week Assembled for Information of Our Readers. George Turner, arrested in Everett, be declared by the police to have confessed to five robberies in Everett mercantile establishments within the last few months, in which loot aggres gating $7000 in value were obtained. As evidence that prosperity is returning, the Washington state license department has issued 35,000 more automobile licenses this year than during the same period in 1922, according to Fred J. Dibble, state license director. Depositors of the defunct Scandinavian-American Bank of Tacoma may expect the payment of a fifth dividend soon, according to a statement made by Forbes P. Haskell, deputy state bank supervisor. Four 10 per cent dividends have been paid already. A bank in which a city councilman is a stockholder may not be made a depository for city funds, AttorneyGeneral John H. Dunbar has advised State Auditor C. W. Clausen. The appointment of Captain Charles Clarkson of Seattle to become surveyor at Grays harbor for the Pacific coast board of marine underwriters, to become effective May 1, has been made. The appointment is designed to take care of the increasing traffic at Grays harbor. AS a result of a decision handed down by the circuit court of appeals in San Francisco, reversing a decision of Federal Judge Cushman at Tacoma, early summer will see the steel skeleton of the 16-story Scandinavian-Amer ican Bank building at Tacoma, once more growing to completion, and depositors of the defunct ScandinavianAmerican bank will be saved about $110,000. The court of appeals in San Francisco reversed a decision of Judge Cushman, in which the latter held that a mortgage of $70,000 held by the bank against the building was no longer a valid lien because It had been satisfied when purchased by F. P. Haskel, Jr., receiver of the bank, and that, therefore, the mortgage had been paid, not merely assigned.

2. May 25, 1923 The Seattle Star Seattle, WA
Article from The Seattle Star, May 25, 1923

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TACOMA BANK HAS NEW HEAD TACOMA, May 25.-H. N. Tinker, president of the Puget Sound Na. tional bank, has announced his retirement as head of that institution. Forbes P. Haskell, jr., a pioneer banker of Tacoma, and confidential agent of former Ambassador Hugh C. Wallace, has become the new president. Haskell is at present receiver of the Tacoma Scandinavian American bank, and is liquidating its affairs. His selection has been enthusias. tically approved by Tacoma bankers and business men generally. The board of directors that will serve with Mr. Haskell until the annual stockholders' meeting, in January, consists of J. A. Eves, Edwin Gregory, F. A. Haines, Edward Miller, jr., W. W. Newschwander, Almin L. Swanson, W. J. Roberts.

3. June 6, 1923 The Alaska Daily Empire Juneau, AK
Article from The Alaska Daily Empire, June 6, 1923

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Lindeberg to Turn Over Property, Suits Dropped TACOMA, June 6.-Judge Card has signed an order directing the received of the defunet ScandinavianAmerican Bank of Tacoma to accept the offer of Jafet Lindeberg, who the receiver stated is practically penniless. Lindeberg, whom the receiver sued on notes totaling $350,000, offered to turn over his remaining property if the suits were dropped.

4. June 29, 1923 The Seattle Star Seattle, WA
Article from The Seattle Star, June 29, 1923

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# Lindeberg Will Pay # Defunct Bank Claim TACOMA, June 29. Jafet Lindeberg will pay the claims against him totaling $223,000, held by the Scandinavian-American banks of Seattle and Tacoma, according to Forbes P. Haskell, Jr., receiver of the Tacoma institution. The claims originally amounted to $325,000, but counter claims against the banks totaling $102,000, have been allowed. The capitalist will repay the claims in three yearly installments. The Scandinavian-American bank of Seattle will receive 55 per cent of the amount and the Tacoma bank 45 per cent. Cormorant, or fishing bird, rarely misses its quarry.

5. March 6, 1925 Vashon Island News-Record Vashon, WA
Article from Vashon Island News-Record, March 6, 1925

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Columbia Basin Irrigation League--President Hervey Lindley of Seattle, Fred Adams of Spokane, federal director, James Kyle, Oregon, member of the board of trustees have gone to Washington in anticipation of the report of the Department of the Interior on its investigation into the feasibility of the Columbia Basin irrigation project, it was announced at the league's offices here. WALLA WALLA.E. C. Burlingame said recently that the percentage of twins in sheep is running higher than usual. Hothouse lambing is well under way, and on ranges will begin soon. The increase is about 120 per cent. OLYMPIA. - Washington contains only 4 per cent of all United States registered Holsteins, yet over 25 per cent of all Holstein records of production are held by Washington Holsteins. MOUNT RAINIER-Motorists driving to Mount Rainier National Park during winter months hereafter will be required to equip their automobiles with anti-skid chains, O. A. Tomlinson, park superintendent, announced recently. Officials at the park have had difficulty in keeping the road open due to cars becoming stalled when drivers get off the hardpacked snow in the middle of the road. OLYMPIA.-Belief that liquidation of the defunct Scandinavian-American Bank of Tacoma can be completed and final dividends to depositors distributed by the middle of the coming summer, was expressed by J. C. Minshull, supervisor of banking, here recently. The remaining assets of the institution, aggregating about a million dollars, can probably be turned into money by that time. OLYMPIA. - Automobile owners with 1924 Idaho license plates will be permitted to use them until March 15, Fred J. Dibble, director of licenses, notified peace officers in Washington recently. The extension of the time on last year's plates is due to an action by the Idaho legislature. OLYMPIA-When Governor Roland Hartley signed senate bills Nos. 47 and 60, he made available $17,360,000.70 for expenditures on state highways within the next biennium. Of this sum, which is pertty generally distributed over the state, a great portion will be spent in Western Washington on the Olympic and Pacific Highways. CHEHALIS. - Richard Nicholas, Theodore Bowles, Everett Schesstrom, Harry Dean, Clarence Hurlbert, Morris Evan, Kenneth Shelby, Thomas McDonald and Paul Danzer, pupils of the eighth grade of the State Training School here, passed the state eighth grade examination, Schesstrom leading all Lewis County students in credits. SUMNER.-Ralph Wright, employe of the Puget Sound Power & Light Company, was seriously burned recently when he came in contact with a power line bearing 60,000 volts while working near Dieringer, two miles east of here. Wright was treated here by Dr. B. J. Gilshannon before being taken to the Valley Hospital in Puyallup, where it is said he would recover. MONTESANO. The board of directors of the Grays Harbor Dairymen's Association has elected W. J Berns, Wynooche Valley, as president for the coming year, according to an announcement made here recently. The other officers are: A. A. Siefert, Ford Prairie, first vice-president; Willard Turner, Wishkah Valley, second vice-president, and John P. Murphy,

6. April 25, 1925 The Seattle Star Seattle, WA
Article from The Seattle Star, April 25, 1925

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Article Text

# Receivers' Fees in Tacoma Bank Are Questioned Two Affidavits Are Filed With Attorney General at Olympia; Investigation Is Under Way ACTS of Louis Hart, former governor, during his tenure of office were again brought into the limelight Saturday, following the announcement of Attorney General John H. Dunbar that he was investigating the fixing of attorneys' fees and receivership fees in the liquidation of the defunct Scandinavian American bank of Tacoma. Dunbar refused to discuss the contents of two affidavits in his possession, said to contain highly sensational matter, which were obtained by him Thursday in Tacoma from Forbes P. Haskell, Jr., receiver, and Guy E. Kelly, his attorney. Dunbar admitted that court action may be resorted to in the case but assured The Star that nothing would be done Saturday.

7. May 18, 1925 The Seattle Star Seattle, WA
Article from The Seattle Star, May 18, 1925

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Hart Probe Is Delayed Fullerton Fails to Take Action on Affidavits Concerning Receiver's Big Fees "Oh, sômetime sooner or later." he replied. were filed with ProseTaffidavits weeks ago Saturday two The affidavits were obtained by cutor Roscoe Fullerton, of Thurston Dunbar In Tacoma. They were county. signed by Forbes P. Haskell, Jr., receiver, and Guy E. Kelly, his at. They dealt with reputed actions torney. and statements of Louis F. Hart, exThey are said to record a conversagovernor. concering receiver's fees in the Scandinavian-American bank tion between Hart. Haskell and Kelly at which fees for the receivership windup. were discussed. Attorney General John Dunbar The fee was set at $115,000. said they were "sensational." Attorney Dunbar, acting for J. C, Fullerton was asked Saturday if he had come to any decision in the Minshull, supervisor of banking. refused to allow the fee to be paid. It matter. was too high, he anid. "No, not yet," he said, The fees have not yet been paid. "When do you expect to?"

8. May 26, 1925 The Daily Inter Lake Kalispell, MT
Article from The Daily Inter Lake, May 26, 1925

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DISPENSES WITH BANK ATTORNEYS (By Associated Press) Olympia, May Fixing their fees as attorneys in the liquidation of the Scandinavian-Americar bank, Tacoma, at the amount they had already received as salary, State Superintendent of Banking Johnson notified Guy Kelley and Thomas McMahon that their services would be dispensed with at the end of the month.

9. May 29, 1925 The Seattle Star Seattle, WA
Article from The Seattle Star, May 29, 1925

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Hart Says He Refused Bank Fee Split Offer Ex-Governor Accuses Haskell in Reply to Charge He Demanded "Cut" LYMPIA, May 29.-Replying to quate, He then told me that they O charges that he asked for a split were going to figure it over and in the receipts for the liquidation of make another offer. I told him that the defunct Scandinavian American if they would take them at a sum bank of Tacoma, ex-Gov. Louis F. he deemed sufficient, to accept It and Hart made an official statement here close the business. today. "I have never had any communiThe charges were contained in cation, directly or indirectly, with affidavits filed in court yesterday at any representative of the Putnams, Tacoma by Forbes P. Haskell, Jr., and have heard nothing further of the matter. liquidator in charge, and Guy E. Kelly, his attorney. Hart's stateSAYS HE WANTED ment follows: DEPOSITORS REPAID "For several months I had been "Never at any time did I intimate endeavoring to have the liquidation or insinuate to the supervisor of of the bank expedited. in order that banking what fees he should allow. the depositors might get their Nor did I in any way interfere money and that the matter might with his duties. be closed during my administration "Neither Mr. Haskell nor Mr. and not left over for my successor. Kelly ever had any reason to be"Sometime during the early part lieve that they could pay or give of October, 1924, I called on Mr. Kelly and we had talked but a few me anything for their appointments. minutes when he brought up the matter of fees. Mr. Kelly said he "At all times it has been my thought they ought to have 6 per desire to see the depositors get all cent of all the money handled, inthat could be obtained for them out cluding several hundreds of thouof the assets of the defunct bank sands of dollars paid banks and and that was my reason for insistbankers to release collateral securIng upon the affairs of the bank Ity for money loaned the bank. being closed at as early a date as "This would be about $210,000 to possible." be divided between the liquidator and his lawyer. To this I immediately protested, and said, 'My God, Kelly, with that a man could live PROSECUTOR IS for years and wouldn't have to hunt a job.' He proceeded to tell me of the amount of work he had PROBING CASE done and that another attorney had received nearly $100,000 in fees in TACOMA. May Prosecutor other lines of litigation. Selden went thru law books toSAYS HASKELL day, trying to find some statute SPOKE OF SPLIT applicable to charges made against "I called his attention to the obLouis Folwell Hart, ex-governor of ject of the law to prevent the dissiWashington. pation of assets of defunct instituHart is accused in affidavits of tions by way of exorbitant fees for asking for "a split" in fees paid receiver and attorneys. by the state in liquidation of the "Some days later Mr. Haskell and Scandinavian-American bank of Mr. Kelly called at the governor's Tacoma. The affidavits are filed office to have me change my attitude with Selden. regarding their fees, and Mr. Haskell The conspiracy statutes apparentsaid: 'Mr. Kelly tells me that you ly cannot be applied. No one but want the bank's affairs closed up Hart is accused, and It is not and that you desire a part of the charged that he entered into any fees.' conspiracy with anyone. "To this I replied: 'I want the The affidavits charge: business closed up, but you can can't That Hart told Guy Kelly, atpay me a damn cent.' Afterwards, in torney for the receiver, that Hart the same interview, Mr. Haskell would make the bank fees large started to refer to the matter and I enough to provide a "cut" for Hart. interrupted him and said: 'No more That Hart gave as his reason for of that. You can't pay me a cent. desiring this arrangement that he Forget it!' was getting old and going out of office poor." "In my conversation with Mr. Haskell in the Puget Sound National The affidavits were made by Kelly bank, concerning the sale of the and Forbes P. Haskell, Jr., who assets, he told me of the offer of was receiver. They relate dealing between themselves and Hart con$150,000 by the Putnams. I agreed with him that the offer was inade cerning the liquidation.

10. June 6, 1925 The Seattle Star Seattle, WA
Article from The Seattle Star, June 6, 1925

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# VICTORY IS # GIVEN TO # DEFENSE Court Gives State 10 Days to Consider Next Step NO bribery involved, is the mean- ing of the decision rendered by Superior Judge Govnor Teats of Pierce county this morning, when he sustained the demurrer of ex-Gov- ernor Hart to the charge of soliciting a bribe from Forbes P. Haskell, Jr., and Guy E. Kelly. Haskell and Kelly were receiver and attorney, re- spectively, for the defunct Scandi- navian-American bank of Tacoma. Deputy Prosecuting Attorney Frank D. Nash, in the absence of Prosecuting Attorney J. W. Sel- den, who was out of the city, asked for an exception to the rul- ing, which was allowed. The state was given 10 days in which to further consider its next step. In that time it will be determined if the information will be amend- ed, or an appeal taken to the su- preme court on the sufficiency of the present information. CASE BASED ON HASKELL AFFIDAVIT The case brought against the for- mer governor by the state was based upon affidavits by Haskell and Kelly in which the ex-governor was alleged to have asked for a division of the fees to be paid Haskell, deputy state bank supervisor, and attorneys in charge of the liquidation of the Scan- dinavian American abnk. The demurrer had been taken un- der advisement by Judge Teats after the hearing Thursday, when Maurico A. Langhorne, attorney for Hart, and Prosecutor Selden and his depu- ty, Nash, backed their opposing con- tentions with numerous citations from authorities on the matter of bribery.

11. November 12, 1962 The Nome Nugget Nome, AK
Article from The Nome Nugget, November 12, 1962

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Jafet Lindeberg Dead at Age of SAN FRANCISCO-Jafet Lindeberg, shipwrecked Scandinavian seaman, who parlayed a $200 grubstake into a multi-million dollar mining empire in turn-of-the-century Alaska, died here last week at Children's Hospital. He was 88. Mr. Lindeberg, key figure in several titanic legal battles over mining and banking operations in Alaska, Washington and California during the 1920s, was active in running a group of tungsten mines in Nevada until shortly before his death. The colorful miner's early career was marked with a frantic series of suits and countersuits with his operation of the Blue Goose Mining Company of Alaska, and the failure of the Scandinavian - American Bank of Tacoma, Wash., of which he was president. Several times Mr. Lindeberg's San Francisco attorney fought off extradition to Washington by waving authorities away with a shotgun. The energetic miner traveled to St. Petersburg in 1910, sued the Governor of Siberia for $77,000 lost in a gold concession, and won. Mr. Lindeberg made his home in San Francisco since the early 1900s. He is survived by his wife, Josephine. Funeral services were held last Thursday and interment was made at Cypress Gardens Memorial Park.