The First National Bank of Mineral Point was closed by the Comptroller of the Currency after discovery of large forgeries/defalcations by Vice-President Phil(ipp) Allen, Jr. A receiver (John W. Schofield, later C. L. Williams) was appointed and the bank remained defunct (building later sold to Iowa County Bank). Contemporary reports state there was little or no run; failure was due to internal embezzlement/forgery. Dates primarily Oct 12–13, 1909.
Events (6)
1.June 10, 1884Chartered
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historical_nic
2.October 12, 1909Receivership
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historical_nic
3.October 12, 1909Receivership
Newspaper Excerpt
appointment of John W. Schofield of the office of the comptroller of the currency as receiver of the Wisconsin institution; the comptroller ordered closed the First National Bank of Mineral Point, Wis., on account of a shortage amounting to $210,000.
Source
newspapers
4.October 12, 1909Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of alleged forgeries and defalcations (embezzlement) by Vice‑President Phil Allen, Jr.; shortages reported from ~$200,000 to as high as ~$400,000. Examiner reported questionable paper and shortages leading to closure.
Newspaper Excerpt
Following the appointment by the comptroller of the currency of John W. Schofield as receiver, the First National Bank of this place closed its doors today.
Source
newspapers
5.October 13, 1909Other
Newspaper Excerpt
So sudden was the collapse of the bank that there was no opportunity for a run upon it, and today hundreds of spectators and depositors are dazed and uncertain as to what they should do.
Source
newspapers
6.December 9, 1909Other
Newspaper Excerpt
The bank building formerly occupied by the First National Bank ... has been sold to the Iowa County Bank and possession will be given immediately. C. L. WILLIAMS, Receiver First National Bank of Mineral Point, Wis.
Source
newspapers
Newspaper Articles (25)
1.October 12, 1909The Washington TimesWashington, DC
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WISCONSIN BANK CLOSES ITS DOORS Dying Teller Said to Be Short More Than $200,000. MINERAL POINT, Wis., Oct. 12. Following the appointment by the comptroller of the currency of John W. Schofield as receiver, the First National Bank of this place closed its doors today. This action followed an all-night session of the officers in a vain effort to avoid the closing. President Calvert Spicely, of the bank, declares an examination by National Bank Examiner Woodhouse has disclosed a shortage which may reach $200,000. Vice President Phil Allen, jr., who is alleged to be responsible for the shortage is reported dying in his home here. The bank has always been regarded as one of the strongest in the Southwestern lead and zinc mining district. Stocks and bonds in various corporations with a face value equal to the bank's shortage, are said to have been turned over to the bank by Allen. It is impossible as yet, however, according to President Spicely to give the value of these securities. The bank's condition, however, is generally regarded as sound.
2.October 12, 1909Evening Times-RepublicanMarshalltown, IA
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GOVERNMENT CLOSES DOORS OF FIRST NATIONAL BANK AT MINERAL POINT, WIS. $210,000 in Cash Missing, Books Evidently Juggled Receiver is Named and Affairs of Bank Will be Wound Up-Had Been Under 1 Investigation for Several Weeks Criminal Action to be Lodged Against Some of the Officers. Washington, Oct. 12.-The discovery of alleged forgeries and defalcations aggregating, according to unofficial advices, approximately $210,000 today. resulted in the closing of the doors of the First National Bank, of Mineral Point, Wis., and the appointment of John W. Schofield, of the office of the comptroller of the currency, as receiver. Arrests are expected to follow the colsing of the bank after a conference between the Federal authorities at Mineral Point. The first word of Irregularities in the bank reached the treasury department Oct. 5. when National Bank Examiner Goodhart, after an examination of the bank's condition. telegraphed the comptroller that he found shortages and questionable paper. The first indiI cations were that the loss would reach only $90,000 but examinations increased this in varying amounts until the amount reached $128,000. Fails to Make Good. Losses on other paper probably accounts for the difference between this amount and $210,000, the alleged shortage announced in the press reports. S. Calvert Spensley, president of the bank. expressed to the bank examiner confidence of his ability to carry the bank thru its troubles. The bank officials succeeded in obtaining a small amount of cash. but Spensley evidently was unable to negotiate the amount necessary and this morning Examiner Goodhart reported by telegraph that the bank had been closed. Statement of resources and liabilitles Sept. 1 disclosed no unusual conditions on its face. The capital stock was $100,000; surplus $20,000; undivided pronts. $11.724.. The bank had out $25,000 in circulation, secured by $51,393 United States and other bonds. There were $505,978 in deposits, and $5,000 outstanding bills payable. Total liabilities were $667.702. Of the same total of resources all except $51,393 United States and other bonds are available for the debts of the institution. Bestdes the bonds the resources N comprised loans and discounts of $489.175: banking house and other real estate, $37,458; amounts due from other at banks. $48,206; cash items. $44,470. The bank's capital is $100,000; dec. posits $505.978; surplus, $20,000; unn, divided profits, $11,724. Its resources total $667.702. ct
3.October 13, 1909Omaha Daily BeeOmaha, NE
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Arrests to Follow Failure of Bank Wisconsin Institution Closes Doors Upon Discovery that Enormous Sum is Missing. WASHINGTON, Oct. 12.-The discovery of alleged forgeries and defalcations aggregating, according to unofficial advices, approximately $210,000, today resulted in closing the doors of the First National bank of Mineral Point, Wis., and the appointment of John W. Schofield of the office of the comptroller of the currency as receiver of the Wisconsin institution. Arrests were expected to follow the closing of the bank after a conference between the federal authorities at Mineral Point. MINERAL POINT, Wis., Oct. 12.-A conference will be held tonight by United States District Attorney Harry Morgan and National Bank Examiner R. W. Goodhart to decide what steps shall be taken to bring to account those responsible for the failure of the First National bank of this place, which was closed following the disappearance of more than $200,000 of its funds. That fraud is behind the failure is admitted. The cause is said to be disastrous speculation in mines. The manner in which the bank was defrauded, it is alleged, was by the substitution of notes in the forged names of well-known local business men for negotiable securities.
4.October 13, 1909Grant County HeraldLancaster, WI
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BIG BANK SHORTAGE AT MINERAL POINT Vice-President Forged Notes Amounting to $200,000. Was Engaged in Mining SpeculationsSecurities Turned Over to Make Good the Shortage. Mineral Point, Wis., Oct. 11.-A shortage aggregating, according" to President Calvert Spensley, possibly $200,000, has been disclosed in the First National bank in this city. Vice President Phil Allen, Jr., who rests under the imputation of having forged notes to that amount, though no warrant has yet been issued, is reported to be dying at his home here. Late Monday night there was an all night session of the stockholders and directors of the bank, being held in an effort to avoid the closing of the bank on Tuesday. The bank is one of the strongest in southwestern Wisconsin's lead and zinc mining district, and the business men of the three counties are rallying to its support. Stocks and bonds in various corporaations in the district, with a face value equal to the bank's shortage, have been turned over to the bank by Mr. Allen. It is impossible as yet, however, according to President Spensley, to give the value of these securities, and though none of the officials of the bank or President Spensley will make any estimate, it is believed that the securities turned over will not meet the shortage by a large figure, estimated by some at $2000,00. The bank's condition, however, is generally regarded as sound, and National Bank Examiner Woodhouse is doing all in his power to help the directors to pass the crisis. So far there has been no serious run on the bank though there have been rumors for several days of trouble in the accounts. The discovery of errors in the accounts was first made about a week ago, and until that time there was no suspicion of any trouble in the minds of those closest to the bank's books.
5.October 13, 1909Daily Arizona Silver BeltGlobe, Miami, AZ
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MININGSPECULATION CAUSED FAILURE OF BANK Two Hundred Thousand Dollars Missing-Investigation Begun MINERAL POINT, Wis., October 12. -A conference will be held tonight by Federal Attorney Morgan nad Bank examiner Goodhart to decide what steps will be taken to bring to account those responsible for the failure of the First National Bank of this place, which was closed following the disappearance of more than $200,000 of its funds. The cause of the failure is said to be disastrous speculation in mines. The manner in which the bank was defraud ed, it is alleged, was by the substitution of notes in forged names of well known business men on negotiable securities. The bank has been in existence for over twenty-three years, for the last eight of which Mr. Sponsley has been at its head, and Phil Allen has been eashier almost since its inception. At Allen's residence all callers were informed that he was dangerously ill. He is 61 years old. So sudden was the collapse of the bank that there was no opportunity for a run upon it, and today hundreds of spectators and depositors are dazed and uncertain as to what they should do. Virtually one-third of the adult population of the town were dépositors.
6.October 13, 1909Rock Island ArgusRock Island, IL
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SHORT $400,000 Defalcation at Mineral Point, Wis., Bank Continues to Grow VICE PRESIDENT BLAMED United States Officials to Hold Conference in Regard to Steps to Be Taken. Mineral Point, Wis., Oct. 13.-The legal aspect of the First National bank failure here was scheduled for discussion between the bank examiner and the United States district attorney today. The latter missed a train from Madison last night, but is expected tonight. Several additional notes said to be worthless have reached the bank. Shortage Near $400,000. Mineral Point, Wis., Oct. 13.-Further investigation into the affairs of the First National bank indicate that the shortage will be near $400,000. The bank yestesday closed its doors and John W. Schofield has been appointed receiver. In the meanwhile Vice President Allen, whose dealings in mining stock were directly responsible for the bank's trouble, is reported as being in a more serious condition in his home. Mr. Allen for years has been a victim of palsy, and the shock of the discovery of his alleged financial irregularities aggravated the oïd malady. Worthless notes are pouring into the bank, and widows and orphans are hard hit, as Mr. Allen acted as administrator of many estates. He was a pillar of the church, a Sunday school superintendent, sometimes occupied the pulpit, and was implicitly trusted. The value of the securities which he has turned over to the bank has not been ascestained, but much western mining stock in the collection is said to be worthless. No Excitement in Town. This bank was regarded as a financial Gibraltar. So firm was this belief that when reports of trouble began spreading a week ago, there was no run on the bank. Even when news of the shortage was known to many depositors last Friday only $16,000 was withdrawn. It is said that more than this sum was deposited from other sources. It seemed past belief to a majority of depositors that anything could be really wrong.
7.October 14, 1909Iowa County DemocratMineral Point, WI
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FIRST NATIONAL BANK CLOSED John W. Schofield of Washington Appointed Receiver. SHORT NEARLY $200,000 But the Directors Hope to Pay Depositors Nearly in Full. After an earnest, hard struggle on the part of the directors to keep their doors open, the First National Bank of Mineral Point was on Tuesday morning closed, by order of the comptroller of the currency. Reports of a shortage in securieties were current for several days, but the depositors took the news calmly and there was at no time a regular run on the bank, but on Monday there were a good many heavy withdrawals. As told in press dispatches the story of the bank's difficulties is about as follows: The first word of irregularities in the bank reached the treasury department on October 5, when National Bank Examiner Richard W. Goodhart, who had been making his regular examination of the bank's condition, telegraphed to the comptroller of the currency that he had found some shortage and questionable paper. The first indications were that the loss would reach only $90,000. The figures of the discrepancy then began to grow. Soon the amount was increased by $20,000 and the next and last amount reported to Washington swelled the loss to $128,000. The
BANK LOOTED FOR MANY THOUSANDS; ITS DOORS CLOSE Washington, Oct. 14.-Discovery of alleged forgeries and defalcations aggregating, according to unofficial advices, approximately $210,000, today resulted in closing the doors of the First National bank, of Mineral Point, Wis., and the appointment of John W. Schofield, of the office of the comptroller of the currency, as receiver of the Wisconsin institution. Arrests were expected to follow the closing of the bank after a conference of the authorities at Mineral Point. The first intimation of irregularities in the bank reached the treasury department on October 5, when National Bank Examiner Richard W. Goodhart, who had been making his regular examination of the bank's condition, telegraphed to the comptroller of the currency that he had found some shortages and questionable paper. The first indications were that the loss would reach only $90,000. The figures later began to grow and the last amount reported to Washington swelled the loss to $128,000. The losses on other papers in the bank subsequently discovered probably account for the difference between this amount and the $210,000 of alleged shortage anounced in the press reports. S. Calvert Spensley is president of the bank. He expressed to the bank examiner confidence in his ability to carry the bank through its troubles. He declared that he could raise $100,000 in cash within six days, but he was evidently unable to negotiate that amount on the bank's credit, and this morning Examiner Goodhart reported by telegraph that the bank had been closed. John W. Schofield left today for Mineral Point to take charge.
9.October 14, 1909The BeeEarlington, KY
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BANK PRESIDENT SHORT Phil Allen, Jr., Reported Dying at Mineral Point, Wis., Fellowing Shortage Expose. Washington, Oct. 13.-The closing of the First National bank of Mineral Point, Wis., was reported to the comptroller of the curracy. The comptroller has appointed John W. Schofield receiver. The assets and liabilities of the bank at the time of the last report to the comptroller were $667,701.74 each. Mineral Point, Wis., Oct. 13.-A shortage aggregating, according to President Calvert Spensley, possibly $200,000, has been disclosed in the First National bank of this city. Vice-President Phil Allen, Jr., who
10.October 15, 1909Morris TribuneMorris, MN
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SHORTACE VERY LARGE I Wisconsin Bank Out Four Hundred Thousand Dollars. -00 Mineral Point, Wis., Oct. 13.-A more serious aspect has developed in the First National bank failure here, it being reported that the shortage, instead of $200,000 as at first estimated, will run close to $400,000. Vice President Phil Allen, Jr., is said to have lost heavily in California and Montana mining investments. The value of the securities which he has turned over to the bank has not been ascertained, but much Western raining stock in the collection is said to be worthless. Bank Examiner Goodhart telegraphed the controller of the currency at Washington asking for the appointment of a receiver for the bank. It is expected that the appointment will be made promptly and that the receiver will take charge of the bank next Thursday. Mr. Goodhart has about finished work on the bank's books, so that everything will be in readiness for the receiver. He was assited by Cashier Harrison, a brother-in-law of ; Vice President Allen.
11.October 16, 1909Evening StarWashington, DC
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WEEK ENDING OCT. 16, 1909. President Taft left Albuquerque, N. M., on his way to El Paso, Tex., where he will meet President Diaz of Mexico today; the President accepted the resignation of Charles R. Crane as minister to China. The United States Supreme Court met for the term of 1909-10., The controller of the currency ordered closed the First National Bank of Mineral Point, Wis.. on account of a shortage amounting to $210,000. Chandler Hale assumed the position of third assistant secretary of state. The strict new United States regulations regarding oyster shipments were suspended until May 1, 1910. The Washington, Charleston and Tingey were the winners of the record target practice trophies in the navy. Wilbur and Orville Wright have neglected to collect the $30,000 due them by the government. The National Geographic Society at Washington requested the University of Copenhagen to waive its first claim to an examination of Dr. Cook's polar observations. Judge Anderson of the United States district court in Indianapolis refused an order, applied for by the Department of Justice, for the removal of Delavan Smith and Charles R. Williams, proprietors of the Indianapolis News, to the District of Columbia for trial on the charge of criminal libel in the Panama canal controversy. The fifteen-year sentence in prison imposed upon Charles W. Morse was sustained by the United States circuit court of appeals. The engineer was killed and a number of passengers injured when a Royal Blue train sideswiped some derailed freight cars in the Philadelphia yard. A lone robber held up the night force of the Northern Express Company at Seattle and got away with thousands of dollars. Key West is asking aid for the storm sufferers. Lieut. C. A. Richter, chief engineer, committed suicide on the gunboat Marietta in Hampton roads. Gen. Richard C. Drum, forme: adjutant general of the United land. States Army, died at his home in MaryIn the District. King Edward conferred with Premier Asquith and the unionist leaders before starting to Newmarket; the idea of a referendum to settle the crisis between the lords and the commons seems to find little favor; King Edward formally opened the new $20,000,000 harbor at Dover. Lady Constance Lytton and Mrs. H. N. Brailsford, suffragette leaders, were sentenced to a month's imprisonment for a disturbance at Newcastle. A dispatch from London said that Sir John Fisher, senior naval lord of the admiralty, would probably retire and be made a peer. Prof. Ferrer, convicted of revolutionary activity, was shot at Barcelona; the execution caused great excitement among socialists in Europe, and rioting occurred at Paris, where an attempt was made to kill M. Lepine, prefect of police, and at Rome. The German reichsbank raised its discount rate from 4 to 5. per cent. The French holders of the Wright patents on aeroplanes applied for an injunction against various other machines. President Fallieres and his cabinet and Ambassador White witnessed aeroplane flights at Juvisy, France. A number of death sentences in Russia were commuted. Ralph Wilner of New York was ejected from his hotel in St. Petersburg, by order of the police, who said his passport had expired. The Turkish sultan. a dispatch from Constantinople says, will refuse the demands of the powers for indemnity for the Adana riots. A Heutenant and five sailors of the Dutch navy were killed by an explosion of picric acid aboard a ship's pinnace, near Masslius, Holland, The opening of the twenty-one provincial assemblies, the beginning of parliamentary government in China, was ignored in Peking. Circulars were distributed in the northern provinces of China urging a boycott on Japanese goods and enterprises, owing to alleged insults and aggressions. Foreign Affairs. The District budget for the next fiscal year, which includes estimates of expenditures of about $11,200,000, was forwarded by the District Commissioners to the Secretary of the Treasury for transmission to Congress. The Commissioners, as a board, held the first regular meeting in
12.October 20, 1909The Columbus JournalColumbus, NE
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Civil war is Impending in Spain. Several bombs have been exploded near the royal palace in which King Alfonzo is practically a prisoner, be ing guarded by a double cordon of troops. President Taft and President Diaz of Mexico exchanged visits at Paso Tex., and Ciudad, Juraez, both execu tives leaving their native countries for the first time in an official capacity Dr. Frederick A. Cook, refuting the charges that he did not ascend Mount McKinley, will organize an expedition to ascend the mountain and procure the records he left there. He asserts Guide Barrill has perjured himself Thirty-seven persons are dead, many injured. and property damaged to about $1,000,000. as a result of the storm which swept Tennessee. Alabama, Georgia, Arkansas and South Carolina. The National Purity congress opened in Burlington, la., with President B S Steadwell in the chair and about 500 reformers and social workers present. Many well known men and women were on the program. Plans for a campaign for the passage of an act to enable Illinois municipalities to adopt the commission form of government were discussed at the annual meeting of the Illinois Mayors' association in Elgin. The Portola festival, celebrating the discovery of San Francisco bay. opened in the Golden Gate city. The National Spiritualists' association began their seventeenth convention in Rochester, N. Y. A convention of employing printers met in Chicago to adopt uniform methods that would end the price war Mrs. Georgie Ferguson, associate pastor of the People's church in Wash ington. says her sex would obtain the ballot if they adopted the method sug. gested by Samuel Adams in revolutionary days-elect state committees. study conditions and adopt state platforms. Marines from the cruiser Idzuma were landed in San Francisco to aid in fighting a fire. The visitors thought the city was threatened. They were not needed. Because he ran down and killed a woman with his automobile. T. C. Goetz of Stamford. Conn., was con victed of involuntary manslaughter and sentenced to jail for one year. Wilfrid Thibeault and Prof. Frank Hill were charged in the Fall River (Mass.) police court with the murder of Amelia St. Jean. whose mutilated body was found at Tiverton. R. 1. They pleaded not guilty and their cases were continued. A receiver was appointed for Solomon Brothers. dealers in oriental goods at New York, with branches at Pittsburg. Cleveland. Chicago and St. Louis. In an Interview at Buffalo. Explorer Cook reiterated that be would bring the Eskimos who accompanied him to the north pole to this country in order to disprove alleged distorted declarations in Commander Peary's statement. Pittsburg won the fifth world's championship baseball game from Detroit by a score of 8 to 4. The Pirates now lead the Tigers in the series by one game. The second national convention of the Congregational Brotherhood of America is in session at Minneapolis with a very large number of representatives present from all parts of the country. The constitutionality of the Illinois two-cent rate law is attacked in an action brought in the federal court at Springfield by the Chicago, Peoria & St. Paul Railroad Company. Milwaukee for ten days will be the Mecca of the dairy farmers and persons engaged in allied interests as the National Dairy show there is now on. A famous portrait by Velasquez, pur chased by a wealthy American abroad. will soon arrive in this country. ac cording to H. R. Duneen. an art dealer. who has returned to New York from Europe. He says it is likely tc become the most noted picture in America. The name of the owner is not revealed. The general understanding in Wash ington is that the court of appeals will render its decision in the con tempt case against Samuel Gompers, John Mitchell and Frank Morrison of the American Federation of Labor within a week. The Norwegian Sterk. a small freighter, foundered off the coast of Norway. The crew of 12 was lost. It has developed that the shortage in the Mineral Point (Wis.) First National bank failure will reach nearly $400,000. It is said that Vice-President Allen has lost heavily in mining investments. Charles R. Crane of Chicago. minister designated to China, was practically deposed by a demand from Secretary Knox for his resignation. The latter charges Mr. Crane with indiscretion. The latter had already tendered his resignation to President Taft. Pittsburg defeated Detroit in the third game of the world's championshin series by 8 to 6
13.October 21, 1909Evening Times-RepublicanMarshalltown, IA
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WANTS TO KNOW. Comptroller of Currency Desires Information On Defunct Bank Exams. Washington, Oct. 21.-The comptroller of the currency has directed Receiver Schofield of the First National Bank, of Mineral Point, Wis., to ascertain whether the national bank examiners have reported its true condition in the past two years to the comptroller.
14.October 21, 1909Ladysmith News-BudgetLadysmith, WI
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Washington. Nebraska and Kansas millers are pressing for early action in the prospective litigation on the flour bleaching question. The department of justice and agriculture last spring agreed that a shipment of Nebraska bleached flour should be seized and a case made up and taken to the courts just as soon as possible for test of the whole question and decision whether the bleaching is injurious or amounts to adulteration in the view of the law. The months have rolled along and no case has been started. Now it is explained that the agricultural people are doing all they can. A recommendation that the navy yards be divided into four departments, each in charge of a general manager, is said to be the most important result of the investigation by a special board of naval officers, headed by Rear Admiral Swift, whose report reached Washington. It is understood that there is a supplementary report signed by a minority of the board. Organized labor, representing many parts of this country, Canada and Cuba, paid a notable tribute to the homecoming from Europe of Samuel Gompers, president of the American federation of labor, who arrived from New York. The celebration in honor of his return, after an absence of several months, was probably the most enthusiastic demonstration ever accorded an American labor leader. There was a monster parade, followed by a big mass meeting at convention hall. Brigadier General Amos S. Kimball, U. S. A. (retired), who saw forty years' service in the army, and was retired at his own request in 1902, having been made a brigadier general several days béofre his retirement, died at his home here at the age of 69. The discovery of alleged forgeries and defalcations aggregating, according to unofficial advices, approximately $210,000, resulted in closing the doors of the First National bank of Mineral Point, Wis., and the appointment of John W. Schofield, of the office of the comptroller of the currency, as receiver.
15.October 22, 1909Watertown LeaderWatertown, WI
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ALLEN IS IN JAIL; LACKS $60,000 BAIL VICE PRESIDENT OF WRECKED MINERAL POINT BANK WON'T SEEK FRIENDS' AID. PRELIMINARY HEARING PUT OFF. Adjournment Will Continue Until United States District Attorney Can Get to Case of Accused Banker. PRISONER MAKES A STATEMENT. MADISON, Wis., Oct. Special.] -The preliminary hearing of Phillip Allen, Jr., vice president of the wrecked First National Bank of Mineral Point. Wis., on the charge of embezzling $168,000 of the bank's funds, was this morning continued by United States Court Commissioner Blake to October 27, and it was agreed that another postponement will be made if District Attorney Gordon or Assistant District Atttorney Morgan have not finished with the regular calendar hearings at La Crosse. Bail was fixed at $60,000, although Allen's attorney, Vroman Mason, district attorney of Dane county. said that if the bail was fixed at $40,000 his client might be able to secure it. An attempt was made to get word to District Attorney Gordon at La Crosse by telephone, but failing to reach him, Commissioner Blake, after a conference with the parties concerned, decided that the bond of $60,000 would be more commensurate with the alleged embezzlement. Fails to Get Bail. Failing to furnish this, it was ordered that Allen remain in the custody of Deputy United States Marshal Kelly. Attorney Mason declared there was no necessity for keeping Allen in jail, but as Deputy Kelly must return to La Crosse, it was ordered that Allen be remanded to the Dane county jail. Allen stated he had friends in Mineral Point who probably would go on his bond but he did not care to ask them. When arraigned and asked by the commissioner what plea he wished to enter Allen said: "I confessed as to certain facts and I will stand by my confession.' Seems in Good Health. If Allen has been seriously ill he did not show any signs of it. He talked willingly and expressed surprise at the growth of Madison since his last visit. Allen frankly stated that he would not commit suicide, as his brother-inlaw, Frank Hanscome, the cashier of the bank, diù, and said that he did not forge any notes or plunder any estates. He said that he made money on every deal he engineered and that he turned over to the bank securities of the value of $250,000, which would more than cover the alleged shortage. No Indictment Returned. LA CROSSE, Wis., Oct. 20.-[Special.]-It is understood that SO far no indictment has been returned against Phil Allen, Jr., vice president of the First National bank of Mineral Point, by the grand jury in session here. The impression prevails that after the indictment is returned Allen will be brought here before Judge Sanborn for hearing. Two Funerals Are Held. MINERAL POINT, Wis., Oct. 20. The funerals of Frank E. Hanscom. cashier of the First National bank, who committed suicide Sunday night, and that of his mother-in-law, Mrs. John Gray, who was killed by the shock of Hanscom's death, took place this afternoon. Hanscom was buried in Graceland cemetery by the side of his father and his mother. between whose graves he fired the shot that ended his life. Sacramento Bank Closes. SACRAMENTO, Cal., Oct. 20.-The Nippon Bank of Sacramento voluntarily closed its doors today and notified State Bank Commissioner Anderson of its suspension. This is the second Japanese bank in this city to close within a week. Predict Banker's Death. OXFORD. Mich., Oct. 20.-The belief here is that M. Lee Hagle, the missing village treasurer and banker, probably never will be brought back to his home town alive. Those who make these conjectures do SO on the assumption that worry may drive him to the point of distraction where he will end his life. After more thorough investigation it is a learned that Hagle's liabilities amount to approximately $42,000. Town Forgeries Charged.
16.October 29, 1909The Charles Mix New EraWagner, SD
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mincrease in the number of trials em up classes IIV to 44 JO refort [enude em all плоца America Judge Advocate General George B. Davis made public is causing much comment in military circles. Conditions, officers say, as shown by the report, are disgraceful and positive remedial measures should be taken. The Matin's correspondent at Oran, Algeria, telegraphs that Mulai Hafid, the sultan of Morocco, has sold the Riff mines, which were the cause of the trouble between Spain and the Moors on the Riffian coast, to a Geruse Local sentiment may be summed up as averse to granting the request of the National Geographic society of the United States that the University of Copenhagen waive its claim to the first examination of Dr. Cook's North Pole data. Copies of circulars issued in north China by a body of Chinese, calling themselves the popular association of the three eastern provinces, have been reecived in Japan, after having been spread broadcast among Chinese of the lower classes. Third Assistant Postmaster General Lawshe announced to the heads of the bureaus in his division that he intended to resign from the postoffice department. The use of the words "So help me -ord eq ABUI onlho jo pue our 18 "pon hibited In the courts of the District of Columbia, If congress passes a law which is now being drafted by the commissioners of the District of Columbia. Dr. Maurice C. Stack. for thirtythree years assistant superintendent of the government hospital for the in14810 Aepung Mashington uj paid euss of cancer of the throat. A recommendation that the navy yards be divided into four departments, each in charge of a general manager, is said to be the most important result of the investigation by a special board of naval officers, head-0J ***** 'IJIMS Rear sq pe port reached Washington. The national capital is planning a great pageant of international scope for the next fourth of July. At a meeting of officials and business men up Columbia, jo District the jo the office of Commissioner McFarland, It was decided to invite, through their diplomatic representatives each of the twenty-one Central and South AmeriInter- Breat . up ujof of republices can national parade, in which the marines -red IIIM A the jo ticipate. Washington. Despite rumors, no one has yet been selected for the post of minister to China to succeed Charles R. Crane, -08 receiting SUM esoq.m cepted by the president. Among the many names that have been menthe sp recent most the jo euo 'penon of Judge Thomas Burke of Seattle, Wash., but this and other reports in regard to the post were characterized by Assistant Secretary of State Wilspeciation. ejem su uos . SW 81119 jo roll . Used Charles C. Glover, president of the Riggs National bank, is charged with oqual pederitor . attended SUJAUL called at the bank. The depositor, Emilio Jasselli, brought suit for damages against Mr. Grover, asking $10,eq ujed pus Allpoq our JOJ 000 suffered. Announcement was made at the uavy department that Rear Admiral Gottfried Blocklinger will be transferred to the retired list on account of -PV Rear that pus 23, October 025 PIC -01 eq 111A O Thousa tired October 26. for the same reason. Admiral Blockinger was born in Iowa, and entered the navy in July, 1863. He reached the rank of rear admiral in October, 1908, and has had over 'wes to serviço Tears and Death's invasion of the fast thinning ranks of war veterans caused em thom peddosp eq 01 samuu pension rolls of the United States 133611 require *141 JO Tear. eur 'J'WA HAIR on jo sjoajajns OJOM total loss to the pension roll from all 9195'19 SEA sesned prace IIIM China of мэй V president em Inun eq 4 returns to Washington. It is no secret that the Washingon 111A no) overthrow of President Zelaya. The discovery of alleged forgeries accord pas of 201 ly $210,000. resulted in closing the doors of the First National bank of Mineral Point, Wis., and the appointour jo Scholleld 'M uqof jo queur ---- our JO companities our jo eogre rency, as receiver.
17.November 19, 1909The Washington HeraldWashington, DC
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# BANK LOOT COMPLETE.
Church Worker Forges Name of the Pastor to $200 Note.
The Comptroller of the Currency made up his mind some time ago that Phil. Ailen, jr., vice president of the First National Bank of Mineral Point, Wis., which failed, had come nearer violating every statute in his work of looting the bank than any other official of a failed bank in the history of the Comptroller's office.
According to the reports of the receiver, Mr. Allen, who is now under indictment as the principal agent in the work of looting the bank, has been guilty not only of the usual offenses against the national banking act, such as falsification of records, but it has been proved, according to his report to the Comptroller, that Allen committed forgery and larceny. He took the securities which farmers and other confiding persons, who believed in his integrity, brought to him for safe-keeping and sold them, and converted the proceeds to his own use.
He forged the names of prominent citizens to notes and took the proceeds, but the Comptroller of the Currency was hardly prepared to learn that Allen had forged the name of his pastor to a note for $200.
The amount of forged papers may reach the stupendous sum of $500,000.
Allen was a religious worker as well as a banker.
18.December 9, 1909Iowa County DemocratMineral Point, WI
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CHANGE OF OWNERSHIP Of the First National Bank Building, Mineral Point, Wis. TO WHOM IT MAY CONCERN: Please take notice that the bank building formerly occupied by the First National Bank of Mineral Point, Wisconsin, has been sold to the Iowa County Bank and possession will be given immediately. All parties having safety deposit boxes in the vault will please remove contents, or they can continue the use of same, subject to arrangements made with the new owners, the Iowa County Bank. The intent of this notice is to inform all parties of the change of ownership, and that arrangements must be made as above stated. C. L. WILLIAMS, Receiver First National Bank of Mineral Point, Wis.
19.March 5, 1910The Superior TimesSuperior, WI
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Take Allen to Prison. Philip Allen, Jr., wrecker of the First National bank of Mineral Point, whose acts of frenzied finance ruined hundreds of depositors, was taken to the federal prison at Fort Leavenworth, Kan. He is under sentence of ten years. The decision to get Allen out of the way now, instead of holding him until the calling of the conspiracy cases against President Calvert Spensley and others, was made as a result of discoveries of secretly written letters, in which Allen attempted to frame up deals against the receivers for his estate, the Central Wisconsin Trust Company of Madison, with the pur pose of concealing stocks and retaining them in the name of relatives. The letters now in the hands of the attorneys for the trustee were intercepted by Sheriff John P. Halbach. The letters and the spirit that prompted the writing offer a sidelight on Allen's character that in the light of past professions of good faith by Alen have astonished and disgusted the officials and attorneys interested. It was this discovery of his secret dealings even while in his jail cell that brought upon Allen a hurriedlyprepared trip to For Leavenworth,
20.July 20, 1911River Falls JournalRiver Falls, WI
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Madison. - Arguments on the demurer to the complaint in the case of C. L. Williams, receiver of the defunct First National bank of Mineral Point, against Calvert Spensely and other directors, were heard by Judge J. A. Humphrey of Springfield, Ill., in the federal court here. Williams brought action to recover from the defendants $700,000, alleging the bank sustained that much loss through the negligence of the directors.
21.July 21, 1911Ladysmith News-BudgetLadysmith, WI
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Madison. - Arguments on the demurer to the complaint in the case of C. L. Williams, receiver of the defunct First National bank of Mineral Point, against Calvert Spensely and other directors, were heard by Judge J. A. Humphrey of Springfield, Ill., in the federal court here. Williams brought action to recover from the defendants $700,000, alleging the bank sustained that much loss through the negligence of the directors.
22.September 20, 1911Vernon County CensorViroqua, WI
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# BANK CASE WILL BE TRIED
Judge Overrules Demurrer in Action
by Receiver to Recover $700,-
000, Charging Negligence.
Madison.-Federal Judge Humphrey of Springfield, Ill., has overruled the demurrer of Calvert Spensley and other directors of the First National bank of Mineral Point to the complaint of C. L. Williams, receiver of the bank.
Mr. Williams brought the action against the directors to force the collection of an assessment of $700,000. He charged them with negligence in connection with the wrecking of the bank by Phil Allen, Jr., who is now serving a ten-year term in the Leavenworth prison. The defendants filed a demurrer, pleading the statute of limitations.
Judge Humphrey decided that the statute of limitations had not expired and the case will now be tried on its merits.
23.September 21, 1911The Manitowoc PilotManitowoc, WI
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# BANK CASE WILL BE TRIED
Judge Overrules Demurrer in Action by Receiver to Recover $700,-000, Charging Negligence.
Madison.-Federal Judge Humphrey of Springfield, Ill., has overruled the demurrer of Calvert Spensley and other directors of the First National bank of Mineral Point to the complaint of C. L. Williams, receiver of the bank.
Mr. Williams brought the action against the directors to force the collection of an assessment of $700,000. He charged them with negligence in connection with the wrecking of the bank by Phil Allen, Jr., who is now serving a ten-year term in the Leavenworth prison. The defendants filed a demurrer, pleading the statute of limitations.
Judge Humphrey decided that the statute of limitations had not expired and the case will now be tried on its merits.
24.September 21, 1911Wood County ReporterWisconsin Rapids, WI
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# BANK CASE WILL BE TRIED
Judge Overrules Demurrer in Action
by Receiver to Recover $700,-
000, Charging Negligence.
Madison.-Federal Judge Humphrey of Springfield, Ill., has overruled the demurrer of Calvert Spensley and other directors of the First National bank of Mineral Point to the complaint of C. L. Williams, receiver of the bank.
Mr. Williams brought the action against the directors to force the collection of an assessment of $700,000. He charged them with negligence in connection with the wrecking of the bank by Phil Allen, Jr., who is now serving a ten-year term in the Leavenworth prison. The defendants filed a demurrer, pleading the statute of limitations.
Judge Humphrey decided that the statute of limitations had not expired and the case will now be tried on its merits.
25.September 22, 1911Eagle River ReviewEagle River, WI
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# BANK CASE WILL BE TRIED
Judge Overrules Demurrer in Action
by Receiver to Recover $700,-
000, Charging Negligence.
Madison.-Federal Judge Humphrey of Springfield, Ill., has overruled the demurrer of Calvert Spensley and other directors of the First National bank of Mineral Point to the complaint of C. L. Williams, receiver of the bank.
Mr. Williams brought the action against the directors to force the collection of an assessment of $700,000. He charged them with negligence in connection with the wrecking of the bank by Phil Allen, Jr., who is now serving a ten-year term in the Leavenworth prison. The defendants filed a demurrer, pleading the statute of limitations.
Judge Humphrey decided that the statute of limitations had not expired and the case will now be tried on its merits.
