21032. First National Bank (Austin, TX)

View Charter #2118 on SPMC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 2118
Charter Number: 2118
Start Date: August 5, 1901
Location: Austin, Texas (30.267, -97.743)

Metadata

Model: gpt-5-mini
Short Digest: 68364ae6

Response Measures

None

Receivership Details

Date receivership started: 1901-08-03
Date receivership terminated: 1902-01-02
OCC cause of failure: Losses

Description

The First National Bank of Austin was closed/suspended by a federal (national) bank examiner on Aug 5, 1901 after being reported insolvent (excessive loans). A special examiner/receiver (William L. Yerkes) was appointed. The bank remained in receivership while arrangements were made with new capital and sureties, and it formally reopened Jan 2, 1902 under new arrangements (John H. Kirby injecting capital). Articles mention crowds and quiet withdrawals earlier, but no discrete depositor run is described as causing the suspension; closure was due to insolvency found by examiners. Dates are taken from newspaper publication dates and dispatches.

Events (8)

1. July 17, 1873 Chartered

Source: historical_nic

2. August 3, 1901 Receivership

Source: historical_nic

3. August 5, 1901 Receivership

Newspaper Excerpt: Controller of the Currency Dawes today appointed Special Bank Examiner William L. Yerkes receiver of the First National Bank of Austin, Texas, which has closed its doors to business. The bank was closed upon report from J. N. Logan, national bank examiner, who found it insolvent.
Source: newspapers

4. August 5, 1901 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closed after national bank examiner reported the bank insolvent; alleged excessive loans and insolvency discovered by examiner.
Newspaper Excerpt: AUSTIN, TEXAS, BANK CLOSED. ... Federal Bank Inspector J. M. Logan has closed the First National Bank of this city and posted a notice on its doors that it would not be open to business pending the arrival of the chief inspector.
Source: newspapers

5. August 6, 1901 Other

Newspaper Excerpt: The closing of the bank created a sensation in business circles and within an hour after the notice was put up a large crowd of citizens had assembled in front of the bank ... It was learned this evening that there has been a quiet withdrawal of funds by the depositors for the past ten days.
Source: newspapers

6. January 2, 1902 Reopening

Newspaper Excerpt: J. H. KIRBY MAKES GOOD First National Bank of Austin Reopened Its Doors Yesterday. ... Mr. John H. Kirby, the bank's new president, placed $133,000 fresh capital in the bank this morning ... The First National bank, which was closed last August, reopened at noon today.
Source: newspapers

7. January 2, 1902 Restored To Solvency

Source: historical_nic

8. February 15, 1906 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (22)

1. August 5, 1901 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, August 5, 1901

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SUMMARY OF TODAY'S IMPORTANT NEWS. STATE. STRIKE. The First National bank of Austin It was said that Senator Hanna would interest himself towards 11 sethas been suspended by the government bank examiner. tlement of the steel workers' strike. The trust evinced a determination to The legislature meets in extraordinary session Tuesday next. wholly destroy the Amalgamated association. Fort Worth will seek to secure the Baptist State convention. Southern mills, It was announced, Two brothers named Barber were would hardly become involved. found dead near Dayton. The San Francisco strike threatened Two men were found dead in the back to spread all along the Pacific coast. end of Waco saloons as the result of A crisis was expected in the cigar overdoses of morphine. makers' strike at Tampa, Fla. A big packing plant at Dallas was CHINA. destroyed by fire. Jim Snell was given five years by a It was stated that as the evacuation Gonzales jury for the murder of his of the foreign troops progresses the nabrother. tives become more and more hostile

2. August 5, 1901 Evening Star Washington, DC

Article from Evening Star, August 5, 1901

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AUSTIN, TEXAS, BANK CLOSED. First National in Trouble Caused by Excessive Loans. A dispatch from Austin, Texas, says: Federal Bank Inspector J. M. Logan has closed the First National Bank of this city and posted a notice on its doors that it would not be open to business pending the arrival of the chief inspector. Alleged excessive loans are said to have caused the inspector to take this action. The state of Texas is said to have $75,000 on deposit, although the exact amount is unknown. The total deposits are said to be over $200,000. No official statement will be issued pending the arrival of the chief inspector. Director Myrick of the First National Bank, said in an interview, that there was apparently $525,000 worth of deposits instead of $200,000, as at first stated, and that the bank will be able to pay dollar for dollar, there being sufficient cash in the valuts to pay 70 cents on the dollar, and the remainder can easily be obtained by the collection of notes. The closing of the bank came unexpectedly to all the directors. Controller of the Currency Dawes today appointed Special Bank Examiner William L. Yerkes receiver of the First National Bank of Austin, Texas, which has closed its doors to business. The bank was closed upon report from J. N. Logan, national bank examiner, who found it insolvent. No details of the present affairs of the bank are obtainable at the controller's office, and the direct cause of its insolvency is not known. The last report of the bank made to the controller of the currency, of date July 15, 1901, is as follows: Resources-Loans and discounts, $281,276.03; overdrafts, $9,149.89; United States bonds to secure circulation, $100,000; premium on United States bonds, $1,159.50; stocks, securities, etc., $25,000; banking house, furniture and fixtures, $2,500; other real estate owned, $17,726.24; due from other national banks, $64,231.41; due from state banks and bankers, etc., $50,676.52; due from approved reserve agents, $158,776.87; internal revenue stamps, $420.70; checks and cash items, $3,005.87; bills of other national banks, $8,000; fractional currency, nickels and cents, $642.73; specie, $71,331.75; legal tender notes, $40,000; redemption fund with the United States treasurer, $5,000. Total, $838,996.31. Liabilities-Capital stock paid in, $100,000; undivided profits, $53,233.85; national bank notes outstanding, $95,650; due to other national banks, $25,033.77; due to state banks and bankers, $13,435.08; individual deposits, $551,643.61. Total, $838,996.31.

3. August 6, 1901 Bryan Morning Eagle Bryan, TX

Article from Bryan Morning Eagle, August 6, 1901

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AUSTIN BANK CLOSED The First National in the Hands of a Bank Examiner. STATE DEPOSITORY. The State Treasurer and Secretary of State Kept Deposits in That Institution-No Statement of Assets and Liabilities. Austin, Aug. 5.-As a result of the failure of the First National bank here yesterday afternoon, the private banking firm of James H. Raymond & Co., suspended payments tois morning. The institution is closely identified with the First National and was badly crippled on account of the suspension of the First National. State Treasurer Robbins states that the treasury department had over $300,000 in cash and securities in the First National bank and last Saturday the bank turned over $32,000 to the state treasury. Mr. Robbins had no idea the bank was on the brink of a financial disaster. He made application at the bank for a condition of affairs, but J.M. Logan, the inspector who is in charge, declined to give out anything. Robbins' bond of $75,000 and his bondsmen are liable for any shortage that may result to the state. The state department has about $50,000 on deposit and Secretary of State Tod's bond of $25,000 is also liable. The attempted suicide of H. Pfaefflin, cashier of the defunct bank, has added much to the condition of affairs. He cut his wrists with a razor. Austin, Aug. 5.-The following typewritten notice was posted on the door of the First National bank here at 4 p. m. Sunday: "This bank is closed and is in my hands as agents pending the arrival of William Lyrkes, special examiner, who has been appointed temporary receiver by the comptroller of currency. "J. M. Logan, "National Bank Examiner." The news of the posting of this notice quickly spread and many flocked to the bank and read it for themselves. Very little can be learned as to the condition of the bank. W. B. Wortham, former state treasner, who is president of the institution, left here two weeks ago for New York City and has not yet returned. H. Plaefflin, the cashier, has been at home sick for several days. Bank Examiner Logan declines to make a public statement concerning the bank's affairs at this time. There are a number of rumors in circulation, but none have as yet been verified. The bank was the depository of the state treasurer and secretary of state. Treasurer John W. Robbins declined to state the amount the state had on deposit, but it is not thought to be large. It is said that there is about $400,000 available with which to pay depositors.

4. August 6, 1901 New-York Tribune New York, NY

Article from New-York Tribune, August 6, 1901

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YERKES RECEIVER OF AUSTIN BANK. Washington, Aug. 5.-The Controller of the Currency to-day appointed Special Examiner William L. Yerkes receiver of the First National Bank, of Austin, Tex. The bank was closed upon report of National Bank Examiner J. M. Logan, who reported it insolvent. The features of the last report of the bank made to the Controller of the Currency, July 15, 1901, are as follows: Loans and discounts, $281,276; United States bonds to secure circulation, $100,000; stocks, securities, etc., $25,000; other real estate owned, $17,726; due from other national banks. $64,231; due from State bands and bankers, etc., $50,676; due from approved reserve agents, $158,776; specie, $71,331; legal tender notes, $40,000; capital stock paid in $100,000; undivided profits, $53,233; national bank notes outstanding, $95,650; individual deposits, $551,643.

5. August 7, 1901 Bryan Morning Eagle Bryan, TX

Article from Bryan Morning Eagle, August 7, 1901

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A HEAVY DEPOSITOR. State Had Over $300,000 in the First National Bank. NO STATEMENT YET. & Is Believed the Institution Will Pay Dollar for Dollar-The Closing Is Claimed to Have Been Somewhat Premature. Austin, Tex., Aug. 6.-In theabsence of Federal Receiver Yerkes, who is en route from Washington, and President W. B. Wortham, of the Fit it National bank, en route home from New York, no news is forthcoming from Tempo. rary Receiver Logan, of the First Na tional bank of this city. He and the bank force are busy checking over the books and auditing accounts in general, but they gave out nothing for publica tion. Pending the arrival of Receiver Yerkes and President Wortham nothing will be given out. It is believed the bank will be able to pay dollar for dollar and that within a very short while. The closing, according to all reports, is premature and it is only a matter of a short time when the bank will be able to resume payment and open up for business. Mr. Logan says the cashier's accounts are perfectly straight.

6. August 7, 1901 The Caucasian Shreveport, LA

Article from The Caucasian, August 7, 1901

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A HEAVY DEPOSITOR. State Had Over $300,000 in the First National Bank. NO STATEMENT YET. It Is Believed the Institution Will Pay Dollar for Dollar-The Closing Is Claimed to Have Been Somewhat Premature. Austin, Tex., Aug. 7.-In theabsence of Federal Receiver Yerkes, who is en route from Washington, and President W. B. Wortham, of the First National bank, en route home from New York, no news is forthcoming from Tempo. rary Receiver Logan, of the First Na. tional bank of this city. He and the bank force are busy checking over the books and auditing accounts in general, but they gave out nothing for publica tion. Pending the arrival of Receiver Yerkes nothing will be given out. The state had over $300,000 on deposit. It is believed the bank will be able to pay dollar for dollar and that within a very short while. The closing, according to all reports, is premature and it is only a matter of a short time when the bank will be able to resume payment and open up for business. Mr. Logan says the cashier's accounts are perfectly straight.

7. August 7, 1901 Shiner Gazette Shiner, TX

Article from Shiner Gazette, August 7, 1901

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ing notice was posted on the doors of the First National bank at 4 o'clock this afternoon: This bank is closed and in my hands as agent pending the arrival of William L. Yerkes, special examiner, who has been appointed temporary receiver by the comptroller of the currency. J. H. Logan, National Bank Examiner. The closing of the bank created a sensation in business circles and within an hour after the notice was put up a large crowd of citizens had assembled in front of the bank and were discussing the situation. Of course all sorts of rumors are in circulation as to the cause of the closing. W. B. Wortham is president of the bank and he is out of the city, either in New York or Buffalo. One of his brothers stated this evening that he thought he was on his way home. The other officers of the bank are J. S. Myrick, vice president; Hermann Pfaef flin, cashier. Other directors are J. P. Lawless and Mrs. J. H. Raymond. This is the first bank failure which has occured in Austin for thitry years. State Treasurer Robbins and Secretary Tod do business for the State through the bank, and when seen by The Post man this evening Mr. Robbins said that he and Mr. Tod would make a statement to the governor in the morning. Otherwise he refused to talk. He said, however, that the bank attended to collections for him and when asked if the amount deposited was $50,000, he said it was more than that. The bank officials decline to give out any information whatever and Mr. Logan also refuses to say anything. It is believed that there is enough cash in the vault to pay all depositors in full. It was learned this evening that there has been a quiet withdrawal of funds by the depositors for the past ten days. President W. B. Wortham wired tonight from Buffalo as soon as he learned of his bank being closed that he would be home Wednesday. There is very little apprehension on the part of large depositors. Cashier Pfaefflin has been confined to his home dangerously ill since Friday night. The collections from the secretary of State's department in the hands of the bank will not exceed $3000. It is understood that the State treasurer collects all checks sent him as remittances on land accounts through the First National, as has been the custom for over twenty years. This course has been made necessary because of the variety and nature of the remittances. all being bank or personal checks on distant points. Owing to a large amount in course of collection.

8. August 8, 1901 The Brownsville Daily Herald Brownsville, TX

Article from The Brownsville Daily Herald, August 8, 1901

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Texas Notes. The First National bank of Anstin has been snspended by the government bank examiner. A big packing plant in Dallas was destroyed by fire. A vicious bull attacked John Fraser in San Antonio Sunday, inflicting dangerous injuries. The Knights of Honor grand lodge of Texas met in Fort Worth Tues. day, and will adjourn tomorrow. Beef cattle are reported scarce in South Texas. Pasturage west of San Antonio and Eagle Pass is very good at present. Several cases of sun stroke have occurred in the state lately. Corn is selling a $1 per bushel in many places in the state: Labor is in demand all over the state, both for cotton pieking and other farm labor, as well as in other lines of work. Corpus Christi is to have a daily paper, to be called the Eagle.

9. August 8, 1901 Bryan Morning Eagle Bryan, TX

Article from Bryan Morning Eagle, August 8, 1901

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TEXAS LEGISLATURE. The Extraordinary Session Called by the Governor Convened. THE BANK FAILURE. Considerable Surprise Expressed That the State Had so Much Money in the First National-Redistricting Bills Offered. Austin, Aug. 7.-The Texas legislature convened in special session yesterday for the purpose of consistring the redistricting of the congres ional districts of the state, so as to add three additional districts to the 18 already existing. The governor also sent in his message recommending action on these subjects and asked for a general appropriation bill for the ensuing two years, requested special appropriations for the state volunteer guard and asked for a sugar refinery in connection with the state penitentiary farm. Considerable excitement seems attendant upon the closing of the First National bank of this city by the federal examiner. It now develops that the state of Texas may loose something like $375,000 by this closing up of the bank and as the governor called the attention of the members to the closing of the bank, a resolution will be introduced in the by Representative Konnedy providing for a special committee to investigate why the state had so much money in the bank on deposit when it was all supposedly in the state treasury. There were no sensational features in either houses. Senator Potter has adopted a concurrent resolution commending Major R. Hare of the Twelfth cavalry to the president for appointment as a brigadier general in the regular army. The vote by which the resolution was adopted was reconsidered and tabled and the resolution was reported to the house. Senator Wilson introduced the first two bills, one appropriating $45,000 to pay mileage and per diem and the other $10,000 for contingent expenses of this session. The bills were referred to the I finance committee and immediately reported favorably, called up, engrossed and passed finally under a suspension of the rules. Senator Miller voting nay on all calls. In the house a resolution by Mr. Meitzer providing for the printing of 5000 extra copies of the first day's journal was adopted. Congressional apportionment bills were introduced by Messrs. McAnally, Ellis and Robertson of Williamson. F Mr. Morrow introduced a bill to apportion the state into representative districts. All the bills were referred to the apportionment committee.

10. August 9, 1901 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, August 9, 1901

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BANK MAY RESUME. President Wortham and Receiver Yerkes at Austin. Prest Austin, Texas, August of dent W. B. Wortham of the First National bank, accompanied by Re ceiver Yerkes, arrived in town late last night. Mr. Wortham. the receiver and the bank examiner have been at work at the bank all day and affairs are moving along in perfeet harmony. It is the general Impression that the bank will resume within the next ten days or possibly sooner. It was learned tonight that State Treasurer Robbins has $358,208.89 of the State's funds deposited with the First National bank which was in course of collection.

11. August 10, 1901 Bryan Morning Eagle Bryan, TX

Article from Bryan Morning Eagle, August 10, 1901

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Mr. Wortham Returns. Austin, Tex., Aug. 9.-W.B. Wortham, president of the First National bank has returned from New York. He spent Thursday at the bank in conference with National Bank Examiner Logan and Special Bank Examiner Yerkes who was appointed temporary receiver. Mr. Wortham stated that the closing of the bank came as a complete surprise to him. He said that he was confident that everything would be straightened out in B few days.

12. August 10, 1901 Morris Tribune Morris, MN

Article from Morris Tribune, August 10, 1901

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FINANCE AND TRADE. I The scarcity of potatoes all over the country has become a serious question. Statistics show that Americans lead the world in the production of iron and steel. The First National bank of Austin, Tex., has been closed by a federal bank inspector. Total shipments of 1,000,000 tons of ore in one month at Two Harbors establishes a world's record. "Corn King" Phillips of Chicago has temporarily suspended business. Errors in bookkeeping is the cause given.

13. August 11, 1901 The Caucasian Shreveport, LA

Article from The Caucasian, August 11, 1901

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14. August 24, 1901 The Savannah Morning News Savannah, GA

Article from The Savannah Morning News, August 24, 1901

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REFUSED TO IMPEACH ROBBINS. Texas House of Representatives Fails to Pass Resolution. Austin, Tex., Aug. 23.-The house today refused to pass a resolution to impeach State Treasurer Robbins for having a large amount of the state's money on deposit in the First National Bank of Austin when it failed recently. The Governor sent in a message indicating that the First National Bank was in a fair way to be reopened and asking for legislation to enable the state to take advantage of it to get hold of all of its money within 180 days. The understanding here is that John R. Kirby of Houston, and other bondsmen of Mr. Robbins have acquired a majority of the bank's stock, and will co-operate with W. B. Wortham, its president, in taking it out of the hands of a receiver and settling with its depositors.

15. August 31, 1901 The St. Louis Republic Saint Louis, MO

Article from The St. Louis Republic, August 31, 1901

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WOULD REVIVE OLD MEASURES. Introduction of Resolution in Texas Legislature Worries Politicians. REPUBLIC SPECIAL Austin, Tex., Aug. 30.-The House of the Texas Legislature was confronted with an embarrassing situation to-day by the introduction of a resolution by Representative McFall calling on the Governor to submit to the Legislature for its consideration the State Democratic platform pledges, which were defeated by nonaction at the regular session of the Legislature last spring. The two principal issues which would thus be presented are an anti-doubleheader plank and an eight-hour plank. Both measures were choked to death at the regular session and an effort to revive them now causes uneasiness in legislative circles. The House and Senate to-day appointed the Free Conference Committee on Congressional Redistriction Bills and the committee will begin work to-morrow. The present session expires by limitation on next Wednesday, and as there is no possible chance of passing the general appropriation bill for the next two years or, passing either the judicial or representative redistricting bill the Governor will in all likelihood order another session, though he has not as yet made public his intention to do FO. The Senate this morning, passed finally the House resolution appointing the Governor. Attorney General and Comptroller as a committee to adjust matters with the First National Bank of this city. The purpose of such action is to secure the State's consent as a depositor in the bank to the transfer of the defunct bank from Federal receivership hands to private individuais, who will assume the payment of all depositors in full, with a view of opening up the bank permanently for future business. With the passage of this resolution it is now anticipated that It will only be a matter of a week or ten days when the bank will open. again.

16. September 1, 1901 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, September 1, 1901

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RESUME OF THE WEEK. Considerable Accomplished, but Another Session Can Not Be Avoided. be consumed by the committee In its re(C. ARTHUR WILLIAMS.) consideration of the matter. Austin, Texas, August 31.-(Staff Speciar.)-The amount of energy that is being The resolution providing for the appointdisplayed by the legislature just at presment of the governor. attorney general ent is nothing short of remarkable. Had and comptroller as a board to represent the State's interests In the matter of the the same degree of activity been shown at the beginning of the session. or even as reorganization of the First National hank, late ns two weeks ago, the work assigned was passed by both houses during the week, and, with the governor's signature by the governor would have been finished attached. will become a law next week. and there would exist no necessity for It is confidently expected that the whole another extra session, which is now Inevimatter will be arranged quickly and with table if the work is to be done at all. satisfaction to all parties at interest. The cost and red tape which would be entalled If the request embodied In Mr. McFall's by a permanent receiver for the bank Will no doubt be obviated. and, with the new resolution passed by the house this mornmoney which it is expected to be put beIng should be acceded to by the executive, hind the Institution, It 18 expected that would the members of the two houses depositors will eventually be paid in full and that the State will receive all the probably begin to send for their families money held by the bank U.S a collecting and their winter elothes and to make prepagency for the State treasurer. arations for spending the Christmas hollIn this connection it should be said that Senator Potter desires to go on record as days in Amstin. The resolution In quesstating most emphatically that the amendtion asks Governor Sayers to submit to ment to the appropriation bill offered by the legislature all of the platform demands him on Thursday and defeated by a vote of 16 to 8, was not atmed at Treasurer Rob. which were not enacted into laws at the bins or at any other individual. The regular session, and If official cognizance amendment in question was as follows: is taken of It the long and weary fights Amend by adding at the end of seeover the donble-header bill. the eight hour tion 4 the following: Provided that no bill and others, which characterized the officer or agent of this State, or emregular session, will again become in eviploye of any department of the governdence. ment of this State, shall take or receive from this State any salary, allowance The sénate appropriation bill was finor sum of money due to or claimed by ished in fairly good time and is now un such person while such officer. agent to the house. The house, of course, will or employe is in arrears with the State of Texas, or is due or owing to the not entertain it. In the first place, the State any sum whatsoever. But the\ house wishes to itself originate the bill sum SO due or owing to such officer, which shall be finally passed and in the secagent or employe shall be credited to his account with the State, and he ond place the senate bill Is hardly the one shall only receive the balance due him to be adopted. There Is a good deal of after such account due by him to the "pork" in it, the senate, realizing that it State is paid; and It shall be unlawful would not be accepted by the house, havfor any such officer, agent or employe ing admitted several Items which would to accept or receive from the State any of the moneys aforesaid under the conhardly have been considered under other circumstances. Then, too, the total ditions aforesaid, and any such person amount carried by the bill is somewhat violating this provision shall. if an larger than the maximum fixed by the agent or employe, be discharged, and if an officer, shall be subject to be Tegovernor. However, the bill as a whole is not a bad one. and If the house really moved from office in the manner prowanted to get through by next Wednesday vided by law, and it is hereby made the duty of the attorney general to inIt could take the bill up, amend in a few stitute and prosecute proceedings for particulars and pass it. that purpose. Senator Potter states that his only DurThe present condition of the redistrictpose was to provide for possible contining bills, however, is such as to lend no gencies and that he does not believe that incentive to fast work-except for effectthe amendment, if adopted, would have forced Treasurer Robbins' resignation. The just now. It is realized that the redissenator had an amendment along similar fricting matter will not be arranged at lines passed by the Twenty-sixth legisthis session. so there will be no effort to lature, and this amendment became null, hurry, except as just mentioned. such and vold when the appropriation bill forts as may be made for effect. passed by that legislature expired. By the amendment introduced Thursday he sought The recommitment of the house approto reinforce the present stature. which pristion bill was the final move which prohibits the comptroller from issuing warrants for salary to any one known by him made it impossible to pass an appropria(the comptroller) to be in arrears to the tion bill at this session. The passage of State. Senator Potter says that with him such a bill under ordinary circumstances it is a matter of principle and not of parusually consumes ten days to two weeks, ties or policy. but had not the inexpressibly bad condiThe senate passed a representative redistion of the bill which was reported to tricting bill on Friday. The bill was the the house made its recommitment advisahouse bill with several amendments tacked ble, the matter might have been finally on. The house refused to concur and the handled at this session by rapid and conmatter went finally to a free conference tinuous work. The bill as It was reported committee, which has begun Its work. and first printed was replete with errors, The senate also passed a senatorial rewholetitems were omitted, the typographiapportionment bill, which. in the main. left cal work was bad and the document as a the present districts undisturbed. There whole could not well have been worse. 1s not a great deal of difference between There was a big error In the senate bill. this bill and the bill passed by the house. $250 appearing in the place of $250.000 In one place, but it was possible to cure this

17. September 24, 1901 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, September 24, 1901

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THE MONEY DUE THE STATE Is to Be Paid in Full by the First National Bank. A STATEMENT MADE BY THE BOARD Explaining the Terms on Which a Settlement Has Been Arranged with the President. Austin, Texas, September 23.-In response to a resolution passed last week. the board created to arrange a settlement with the First National bank of Austin, composed of the governor, attorney general and comptroller sent a communication to the house of representatives this evening, in which they say: The board has had conferences with the president of the bank and has submitted to him the proposition that If the payment of the entire amount belonging to the State should be secured by the execution of a bond, with good and sufficient security, the bank would be permitted to pay onefourth of the whole amount cash, onefourth in thirty days, one-fourth in sixty days, and the remainder in ninety days from date of agreement. The president of the bank assured the board that he would be able to accept and comply with the terms proposed and is now in the city of New York for the purpose of making the necessary arrangements. In the meantime, as your board is advised the temporary receiver of the bank has been collecting Its assets and has now on hand enough to pay about 70 per cent of all its liabilities. The board is of the opinion that an arrangement can be reached within a short time by which all the State's money will be either paid into the treasury or amply secured in accordance with the terms proposed. In the conferences with the president of the bank It was understood that there would be no abatement of the amount claimed by the State and that the board had neither the disposition nor the authori. ty to accept less than the full amount of the State's claim. The bank Is now in the hands of a temporary receiver and under the control of the comptroller of the currency. One object of the president's visit East is to make such arrangemo ts as may be necessary to enable the owners to resume control of the bank. The comptroller of the currency and the receiver have expressed a willingness to do everything in their power to facilitate an early settlement of the nffairs of the bank. Should the board obtain further information touching the matter before the adjournment of the legislature It will be Immediately communicated to the house.

18. November 14, 1901 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, November 14, 1901

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have taken hold, It was seen that Caledonian hall would not be large enough to accommodate the number who would likely be present and it was deemed necessary to secure a hall sufficiently large to accommodate all who may attend. With this end in view Saengerbund hall has been engaged and the British American smoker, the preliminary to the organization of a permanent English Social club, will be held in that hall on Saturday evening, November 30. 1901. The smoker will be given on the subscription plan and already the subscriptions have reached very large proportions and the great number of persons who have signified their Intention of being present is considered sufficient to warrant the committee to proceed with the arrangements for the smoker on a Inrger and grander scale than the most sanguine of its friends hoped for when the plan of getting it up was suggested. It will be an elaborate affair and promises to be one of the most pleasant and enjoyable occasions of the season. The first BritishAmerican smoker ever held in Houston promises to be a memorable occasion. DATE CHANGED.-The executive committee of the Rice Association of America has changed the date of the general meeting of the association from November 27 to Thursday, December 12. 1901. After the meeting which determined upon Crowley, La., as the place for holding the general meeting and nxing the date as November 27, the executive committee thought a later date would be better. After duly considering the question the committee de cided that a later date for the general meeting would assure a larger and better attendance: that the business to come before the association would be in better shape for transacting. In accordance with this determination the executive committee changed the date for holding the general meeting. Secretary Wilson in accordance with the action of the executive committee is sending out the following official call: Houston. Texas, November 10, 1301.-Notice is hereby given that the regular annual meeting of the Rice Association of Ameri a will be held at Crowley, La., on Thursday, December 12, 1901. Everyone is invited and a full attendance desired, as matters of vital importance will be dis cussed. Reduced railroad rates will be secured and the program published later. Oswald Wilson, Secretary. PRIZES FOR FLOWER PARADE.-Dr. William K. Eckhardt. chairman of the flower parade committee for the No-Tsu-Oh carnival announces the following prizes for the best displays: Four-horse vehicle-First prize, $85: secand prize. 855. Two-horse vehicle and tandems-First prize, $65: second prize, $35 Single rigs-First prize, $60; second prize, $35 Shetland pony rigs-First prize, $35, second prize, $20. Equestrian, Indies and gentlemen-First prize, $35: second prize. $20. Decorated horses-First prize, $30; see ond prize $15. Automobile $20. Dr Eckhardt calls a meeting of his committee for tomorrow afternoon at 4 o'clock at the parlers of the Rice hotel and is very anxious for a full attendance. HERE ON BUSINESS.-Mr. Franklin Ridgeley of Chickasha, I. T., brother of the comptroller of currency at Washington, D. C., and an employe of the United States treasury department, is in this city, a guest at the Rice hotel, as is also National Bank Examiner D. M. Logan. It is understood Mr. Ridgeley is here on business connected with the reopening of the First National bank of Austin: that he has been to the State capital checking up the receiver preparatory to opening the bank, and is now here to confer with Mr. John H. Kirby in the final arrangements. Mr. Ridgeley refuses to talk for publication, saying that he is here on business, but neither denying nor confirmning the rumors. WILL REMAIN IN JAIL.-In the court of criminal appeals yesterday the appeal of Thomas McDonald. from this county, was dismissed. McDonald is under indictment charged with murder in the killing of Captain Ike Baker several years ago. At the prefiminary hearing McDonald was remanded to jall without bail. His attorney sued out a writ of habeas corpus before Judge Wilson, which, on hearing, was refused. McDonald then carried his appeal to the court of criminal appeals, where it was heard yesterday and dismissed. This decision of the higher court sustains the lower courts in refusing the writ or habeas corpus, and McDonald will remain in jall until he has his trial. RELEASED FROM CUSTODY.-Coley Cleveland, charged with the killing of George Ogburn at Sandy Point and permitted to give bond in the sum of $25,000 on the hearing of a writ of habeas corpus before Judge Thompson at Richmond on Tuesday, was brought back to this city Tuesday night and lodged in jail. Last evening his bond was completed and accepted and he was released from custody. The sureties on Mr. Cleveland's bail bond are Mr. Toulmin Cleveland, Mr. Frank Colby, Mr. Charles Heim and Mr. William J. Perkins. HEARING POSTPONED.-The preliminary examination of C. T. Stephenson, charged with embezziement, which was

19. January 3, 1902 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, January 3, 1902

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J. H. KIRBY MAKES GOOD First National Bank of Austin Reopened Its Doors Yesterday. MORE DEPOSITS THAN WITHDRAWALS Text of the Agreement Entered Into Between the State and the Bank's New Officials. Austin, Texas. January 2.-The First Na. tional bank, which was closed last August, reopened at noon today under very favorable conditions, and the deposits for the afternoon far exceeded the withdrawals. The authority to reopen reached here from the comptroller of the currency shortly before the noon hour. Mr. John H. Kirby, the bank's new president, placed $133,000 fresh capital in the bank this morning, and when the bank's funds arrive from WashIngton it will have a capital of over $600,000. The following is a copy of the agreement entered into between the bank and the board composed of the governor, attorney general and comptroller, which was created at the special session of the Twentyseventh legislature to represent the State in the reorganization of the bank: The State of Texas, country of Travis: This agreement made and entered into by virtue of a joint resolution passed by the Twenty seventh legislature or the State of Texas, and approved August 30, 1901, by and between Joseph D. Sayers, governor; R. M. Love, comptroller, and C. K. Bell, attorney general of said State, who, by said resolution, were constituted a board for the purpose of securing the return to the proper official of the moneys belonging to the State of Texas, and in the custody of the First National bank of Austin, Texas, parties of the first part, and the said First National bank of Austin, as principal, with John H. Kirby of Harris county, Texas, W. B. Wortham. J. L. Hume, George P. Assman and A. S. Vandervoort, all of Travis county, Texas, as sureties, parties of the second part. Wittnesseth: 1. That the parties of the second part do convenant and agree to pay unto the treasurer of said State at his office in the city of Austin the following sums of money. to-wit: $97,921 on January 10, 1902: $50,000 on February 2, 1902; $50,000 on March 2. 1902; $50,000 on April 2, 1902: $50,000 on May 2. 1902: $50,000 on June 2, 1902, and $50,000 on July 2, 1902, and should there be a failure to pay any of said sums on the day specified. or within three days thereafter, the entire amount remaining unpaid shall become immediately due and payable. 2. The above and foregoing obligation is Intended to cover the sum of $397,921. which was in the possession of the said First National bank of Austin, Texas. when it was closed and placed in the custody of a receiver by order of the comptroller of the currency, said sum representing the aggregate amounts standing at that time upon the books of said bank to the credit or John W. Robbins. State treasurer, and John G. Tod. secretary of state. respectively, to-wit: $358,208 to the credit of John W. Robbins, State treasurer. and $39,712 to the credit of John G. Tod, secretary of state. 3. As each of said sums of money shall be paid to the State treasurer be shall apply the same to the credit of the two funds above mentioned in ratable proportion to the amounts thereof. In witness hereof the parties héreto sign their names in duplicate on this the second day of January, A. D. 1902. Joseph D. Sayers, (Signed) Governor: R. M. Love, Comptroller: C. K. Bell, Attorney General: Parties of the First Part. First National bank of Austin, principal, by John H. Kirby, president; John H. Kirby, J. L. Hume, George P. Assman. A. S. Vandervoort, W. B. Wortham, sureties, parties of the second part. The following resolution was unanimously adopted by the bank directors this afternoon: Whereas, the First National bank of Austin is indebted to the State of Texas in the aggregate sum of $397,921. being the eount to the credit of John W Robbins

20. January 4, 1902 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, January 4, 1902

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IE CREDIT ACCORDED cognition of Mr. Kirby's Efforts by Members of the State Board. 50. BERT SIDNEY JOHNSTON CHAPTER cts Officers and Arranges for the Celebration of General Robert E. Lee's Birthday. ust'n, Texas, January 3.-The board ch represented the State in the reorganion or the First National bank of this mailed the following letter this afterTierze to Mr. John H. Kirby at Houston: After months of negotiations arrangeinheuts have been perfected by which te State will be saved from loss on wount of the placing of the affairs of ie First National bank of Austin in nine heads of a receiver. We recognize at this result is attributable to your ersistent efforts and we cheerfully "cord to you the credit which you so chly deserve. We desire to return to YES our sincere thanks for your disterestedness and assure you of our gh appreciation of the service which yu have rendered the State. Yours 1115, Joseph D. Sayers, Governor. C. K. Bell, Attorney General. R. M. Love, Comptroller.

21. January 5, 1902 The St. Louis Republic Saint Louis, MO

Article from The St. Louis Republic, January 5, 1902

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KIRBY THANKED FOR HIS WORK. Texas Officials Grateful for Services Rendered to State. REPUBLIC SPECIAL Dallas, Tex., Jan. 4.-Governor Sayers, Attorney General Bell and Controller Love have issued the following official letter: "John H. Kirby, Houston. Tex.: Dear SirAfter months of negotiations arrangements have been perfected by which the State will be saved from loss on account of the placing of the affairs of the First National Bank of Austin in the hands of a receiver. "We recognize that this result is attributable to your persistent efforts and we cheerfully accord to you the credit which you so richly deserve. "We desire to return to you our sincere thanks for your disinterestedness and assure you of our high appreciation of the service which you have rendered the State." The amount the State had tied up in the bank failure was between $250,000 and $300.000.

22. January 5, 1902 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, January 5, 1902

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IN A HEALTHY CONDITION FIRST NATIONAL BANK OF AUSTIN WELL FIXED FOR BUSINESS. Details of the Plan Upon Which It Has Beer. Reopened-Where the State Stands. Austin, Texas, January 4.-The reopening of the First National bank here this week was a source of great satisfaction 10, every State official, but probably more so to the board which was created by the special session of the legislature to represent the State and its .erests in the reorganization. Said board was made up of the governor, attorney general and the comptroller and to show how they guarded the State's welfare in the matter, the sureties upon tue ofncial bonds of the treasurer and secretary of state were required to give their written consent (0 the agreement, thus preserving their liafility upon their two bonds, which st's remain in full rorce and edect. in Hudition the assets On the bank were .rengtaencd by the payment by Hon. John H. Kirby of $133,000 into the bank to construte a part of its assets. Again the stock. of the JUDE, which was regarded as absolu.ely worthiess, has falled into the hands of gentiemen who can readily respond to an assessment of $100,000 upon the same should any further trouble occur. And finally, ME. Kirby and a majority of the bank's officials obligated taemselves as suitties for the full and faiturul payment of the entire amount due he State from the bank. This, It is confidently Dedeved, makes the Indebtedness of the bank to the State absolutely secure bey ond and question, ith $485,000 in cash, the addi ion therto of $138,000 paid in by Mr. Kirby, and not less than $100,000 of paper that is regarded as absolutely solvent and bankable, to say nothing of the other assets not regarded as entirely soivent, the future of the bank with proper management must be considered bright. Too much praise can not be accorded Mr. W. B. Wortham for his untiring efforts to reopen the bauk, and it is but due him that it should be said that next to Mr. Kirby he was most instrumental in accomplishing its restoration. O: Mr. Khoj it may ihe said that his action in the premises 19 regarded as an evidence of not only sincere patriotism, but also of his high regard for his business integrity. Without his assistance the effort would have been a failure. and great loss would have certainly resulted to the State. or the temporary receiver, it may be said that in his actions he was absolutely disinterested and woked only to the interests of the depositors and to the placing of the bank upon a sound and substan lal footing. It may be asted why the bank in being in such a condi lon was not required to immediately pay all of the money due from It to the State. The answer is that this was not permitted by the comptroller of the currency. He regarded it as his du y. not only to prtoect the interests of the depositors but, if possible, to Insure the continuance of the bank upon a sucessful basis. This necessitated the payment by installments of what Is due the State, such payment being secured as above stated.