56529a4eFull suspension
Other: Directors made voluntary assignment to an assignee; assignee/receiver named Henry D. Lindsley.
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WESTERN BANK AND TRUST COMPANY FAILS. Dallas, Tex., Jan. 16.-The Western Bank and Trust Company, capitalized at $500,000, passed into the hands of an assignee last night. Heavy withdrawals recently is assigned as the reason. The liabilities are given as $1,054,104. The assets are not stated, but it is said they will pay out in time. The company is a private institution.
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DALLAS BANK FAILS. Savings Institution Could Not Raise Enough Ready Cash. Dallas, Tex., January 16.-The Western Bank and Trust company of Dallas, the largest savings bank in Texas, has been placed in the hands of Henry D. Lindsley, with instruction to administer the affairs of the institution for the interest of its creditors. Officers of the bank declare that while on October 1 it was in the best of condition of its history, a quiet run has prevailed since that time, and to meet it they have paid out over $900,000. After sacrificing all of their quick assets and finding the remainder hard to dispose of under present financial conditions, they decided to make an assignment. The bank had a capital of $500,000 and over 4000 savings depositors. Its total liabilities are $1,054,104.53. A complete schedule of the assets has not been filed, but officers of the bank declare that depositors will lose nothing. There is some doubt, however, about the fate of the accounts of other creditors.
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Texas Bank Suspends. Dallas, Tex., Jan. 16.-The Western Bank and Trust Company, capitalized at $500,000, passed into the hands of an assignee last night. Heavy withdrawais since the panic is given as. a reason. Liabilities are given as $1,054,104, assets not given, but It is stated that the bank will pay out in time. The bank is a private institution.
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DOORS ARE CLOSED WESTERN BANK AND TRUST COMPANY'S AFFAIRS IN HANDS OF ASSIGNEE. APPEAL TO THE COURT Three Depositors File Involuntary Petition in Bankruptcy Against Institution-Involves a Large Number. Dallas, Texas, Jan. 17.-As a result of the continual drain on the resources since the financial troubles began several months ago, the Western Bank and Trust company failed to open its doors yesterday morning. Action of this kind was discussed at a meeting of the Dallas Clearing House association held Wednesday afternoon, but final decision was not reached until after the situation had been thoroughly canvassed at another session held that night. Henry D. Lindsley, who has been named as assignee by the officers of the bank. was asked if he had any statement of any character to make. He said that outside of schedule filed there was nothing to give out, but expressed the hope and belief that every depositor of the bank would be paid in full. Of course it will take some time to do this. as some of the assets given in the schedule are in such a shape that it will take time to realize on them. The total liabilities of the institution as shown by the schedule filed in the office of County Clerk Gaston are $1,054,104.53. The total assets are not given in this schedule as the list had not been completed when the paper was filed. There are more than four thousand depositors with the bank and there are very few who have any large amounts on deposit. According to the schedule filed and the statement of Mr. Lindsley and others who have been connected with the institution. this bank does not owe a cent to any other bank in this city, and none of the other institutions are affected by the assignment of the Western Bank and Trust company. Since the money tightness began it is stated that more than $175,000 was paid out by the bank to depositors who had saving accounts in the bank while about $900,000 had been withdrawn by those who had checking accounts at this bank. It was stated yesterday that the entire private fortune of both Mr. Fleming and Mr. Templeton had been pledged towards securing the depositors. Mr. Fleming's private estate, it is said, will amount to about $750,000 gross and will bring at least $500,000 net. By the assignment filed with the county clerk the Western Bank and Trust company shows its assets to be $1,054,104.53. In the assignment it is stated that there are 4,613 savings deposit accounts, aggregating $366,624.64, and that the average balance of all savings deposits is $79.40. Among the larger depositors are: International Text Book company (pay roll), $3432.17; Interstate Amusement company, St. Louis, $1251; I. Jalonick, general agent, $2204.12; Park Hotel, $1,302.11; Postal Telegraph-Cable company, $2002; Trinity Valley Trust company, $2531.69. There are, of course, many depositors mentioned, but all of the amounts are under the figures given above. In the itemized statement, the total of bills receivable is given at $503,797.69 in which amount is included several overdrafts and notes of various character. Among the larger of these are mentioned: Realty Loan and Investment company (several items), total $122,000 M. Grossman et al. $9500; D. A. Templeton, overdraft and notes, (three loans), $127,000; Trinity Valley Trust company $6000; Houston White Brick company (two items), $20,600; F. S. Thompson, $10,000; W. C. Witwer and others, $10,700; American Railway and
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COURT SITS ON SUNDAY. Upon Urgent Demand, Judge Ross Hears Bank Case, Dallas, Tex., Jan. 19.-The failure of the Western Bank and Trust Company, of Dallas, was up in court to-day, notwithstanding it was Sunday. When the bank failed by voluntary assignment the directors appointed Henry D. Lindsley to be assignee under one of the State courts at Dallas. Then a party of depositors attacked the assignment in the Federal Court, and petitioned for involuntary bankruptcy. The question will likely come before Judge Meek, in the United States Court, to-morrow. Another party of depositors late last night filed a petition before Judge Ross, of the Forty-fourth District Court, asking for the removal of Assignee Lindsley and the appointment of a receiver. These depositors were so urgent in their demands for immediate action that Judge Ross determined upon the unusual, and hold a special meeting to-day. The matter was up at a morning and evening session of the court. Both sides were tenacious in their contentions. The matter finally went over until tomorrow.
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MISCELLANEOUS. In a terrific ten hours' engagement in a ravine near Settat, Morocco, between a French column under the command of Gen. d'Amade, and a column commanded by Mulai Rachid, one of the chiefs of Mulai Hafid's forces, the French gained a splendid victory in the face of heavy odds. succeeding in dispersing the enemy and occupying Settat. Edward S. Whitaker, inspector of police in New Orleans, fired two shots at J. M. Leveque, editor of the Morning World, because that paper had criticised him severely. After one of the bitterest fights in its existence the New York county Republican committee adjourned without having indorsed Gov. Hughes or any other candidate for the presidential nomination. The Western Bank & Trust company of Dallas, the largest savings deposit bank in Texas. was placed in the hands of a receiver. all its quick assets having been exhausted by a long run. The British ship Hartfield, from Liverpool to Seattle. is believed to have gone down with all on board off the west coast of Vancouver island. A petition in bankruptey was filed at Denver, Col., by Orman & Crook, railroad contractors. The total liabilities are given as $741,136 and the total assets as $1,282,771. Mrs. Lydia K. Bradley, one of the richest women in Illinois, died at Peoria, III., aged 92. She was particularly known for her philanthropy. having endowed the Bradley Polytechnic institute. John C. Guinn. a millionaire mine owner, 65 years old. was severely beaten and robbed at his home in Georgia City, Mo., by robbers who first cut the telephone wires. H. R. Drew, a prominent real estate man and one of the pioneer residents of Mineapolis, Minn., died. E. H. Harriman was directed in a decision given by Judge Hough in the United States circuit court to answer all questions propounded to him by the interstate commerce commission except those relating to the purchase of the Union Pacific and Southern Pacific railroad stock in connection with the dividend of August, 1906. The Lake Carriers' association, in convention at Detroit, Mich., placed itself on record as opposing the diversion into the Chicago sanitary canal of water enough to make it a commercial waterway. Fire in East St. Louis destroyed an elevator, a grain storehouse and some freight cars, the loss being $150,000. Mrs. Eliza Matsen of Duluth, Minn., confessed that she murdered her husband. Ezekiel Gregory. an aged farmer. was slain by his son in a quarrel near Davidson, N. C. Misses Annie and Maggie Wade, sisters, of Oak Park, III., went insane at Ocean park, near Los Angeles, Cal., as a result of the financial de. pression. The British steamer Tolesby was wrecked on Cape Race, the crew be. ing saved. Two members of the Japanese cabinet resigned and the resignation of all was narrowly averted, the trouble being over the budget. Smoke entering the Nixon theater at Pittsburg, Pa., started a panic that was quieted by the efforts of a detective. Vandals have stolen and ruined $25,000 worth of pictures, furniture and bric-a-brac in the home of F. P. Earle in New York. Mr. Earle is in Italy. Robert Maclay & Son, members of the New York stock exchange, failed for $1,500,000. Secretary Taft has written a letter to the president recommending an in crease of the width of the Panama canal locks from 100 feet, as at present planned, to 110 feet. Emmett R. Olcott, a well-known
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Broke a Texas Bank, Dallas, Tex.-The Western Bank & Trust company of Dallas, the largest savings deposit bank in Texas, has been placed in the hands of a receiver, Henry D. Lindsley, with instructions to administer the affairs of the institution for the interest of the creditors. Officers of the bank declare that while on October 1 it was in the best condition of its history, a quiet run has prevailed since that time, and to meet It they have paid out over $900,000.
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Big Dallas Bank Fails. Dallas, Tex.-The Western Bank & Trust Company of Dallas, the largest savings deposit bank in Texas has been placed in the hands of Henry D. Lindsey, assignee, with instructions to administer the affairs of the institution for the benefit of its creditors. Officers to the bank declare that while on October 1 it was in the best condition of its history, a quiet run has prevailed since that time and to meet it they have paid out over $900,000. After sacrificing all of their quick assets and finding the remainder hard to dispose of under pres ent financial conditions, they decided to make an assignment. The bank had a capital of $500,000 and over four thousand savings depositors.
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The Masonic Temple in Baltimore being was gutted by fire, the loss about $250,000. The last of the Indiana National guard left Muncie, the strike trouble being ended. Woman suffragists in London three were arrested and sent to jail for weeks. Mrs. Herbert H. Sears, member guest of wealthy Boston family and a York, a the Hotel St. Regis, New from committed at suicide by jumping a thirteenth story window. Daniel C. Stover, millionaire manu- and of stoves, windmills facturer farm machinery, died at Freeport, III. Archduke Ferdinand, IV., grand duke of Tuscany, died at Salzburg, Austria. Jennie G. Sorg, widow of the Mrs. Paul J. Sorg, tobacco millionaire late Middleton, O., was elected presi- bank of dent of the Merchants' National of Middleton. Thomas Bates, who ran away from in home at Springfield, Mass., his has been found by his brother Tenin 1852, the state soldiers' home in nessee. Heirs of Gen. Israel Putnam of a revolutionary fame are planning meeting at which a fight to recover his $20,000,000 said to be due from estate in Europe will be made. Ambassador Briscom in Rome preKing Victor Emmanuel with gold a number sented of the new American the $10 and $20 pieces, for 60, king's coins, collection, which numbers 000. In a terrific ten hours' engagement beravine near Settat, Morocco, the in a a French column under coltween command of Gen. d'Amade, and a one commanded by Mulai Rachid, forces, umn the chiefs of Mulai Hafid's victory of French gained a splendid the the face of heavy odds, succeeding in in dispersing the enemy and occupy ing Settat. Edward S. Whitaker, inspector shots of in New Orleans, fired two Mornpolice J. M. Leveque, editor of the had ing at World, because that paper criticised him severely. one of the bitterest fights Re- in After existence the New York county its publican committee adjourned without any indorsed Gov. Hughes or having other candidate for the presidential nomination. The Western Bank & Trust company Dallas, the largest savings deposit the of in Texas, was placed in asbank of a receiver, all its quick long sets hands having been exhausted by a run. The British ship Hartfield, from to Liverpool to Seattle, is believed board off have gone down with all on island. the west coast of Vancouver A petition in bankruptcy was Crook, filed Denver, Col., by Orman & liaat contractors. The total the bilities railroad are given as $741,136 and total assets as $1,282,771. Mrs. Lydia K. Bradley, one of the at women in Illinois, died Peoria, richest Ill., aged 92. She was particknown for her philanthropy, Polyhaving ularly endowed the Bradley technic institute. John C. Guinn, a millionaire mine 65 years old, was severely in owner, and robbed at his home who beaten Georgia City, Mo., by robbers first cut the telephone wires. R. Drew, a prominent real resi- esH. man and one of the pioneer a dents tate of Mineapolis, Minn., died. H. Harriman was directed in E. given by Judge Hough in the United decision States circuit court to answer by all questions propounded commission to him interstate commerce the those relating to the Southern purchase except the Union Pacific and connection of Pacific railroad stock in 1906. with the dividend of August, The Lake Carriers' association; in at Detroit, Mich., placed diconvention on record as opposing the itself version into the Chicago sanitary it a canal of water enough to make commercial waterway. Fire in East St. Louis destroyed an a grain storehouse and some elevator, freight cars, the loss being $150,000. Eliza Matsen of Duluth, Minn., husconfessed Mrs. that she murdered her band. Ezekiel Gregory, an aged farmer. near was slain by his son in a quarrel Davidson. N. C. and 165 persons were killed Pa., Over injured at Boyertown, The many when the opera house burned. tank of a moving picture upstarted explosion a wild panic; oil lamps collapsed. were and blew up and the floor and set victims were mostly women leading children The and belonged to the families of the town. John F. Betz, one of the best known of in the country, and one died Philadelphia's brewers wealthiest citizens,
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revolutionary fame are planning a meeting at which a fight to recover $20,000,000 said to be due from his estate in Europe will be made. In a terrific ten hours' engagement in a ravine near Settat, Morocco, between a French column under the command ef Gen. d'Amade, and a cofuma commanded by Mulai Rachid, one of the chiefs of Mulai Hafid's forces, the French gained a splendid victory in the face of heavy odds, succeeding in dispersing the enemy and occupying Settat. Edward S. Whitaker, inspector of police in New Orleans, fired two shots at J. M. Leveque, editor of the Morning World, because that paper had criticised him severely. After one of the bitterest fights in its existence the New York county Republican committee adjourned without having indorsed Gov. Hughes or any other candidate for the presidential nomination. The Western' Bank & Trust company of Dallas, the largest savings deposit bank in Texas, was placed in the hands of a receiver, all its quick assets having been exhausted by a long run. The British ship Hartfield, from Liverpool to Seattle, is believed to have gone down with all on board off the west coast of Vancouver island. A petition in bankruptcy was filed at Denver, Col., by Orman & Crook, railroad contractors. The total liabilities are given as $741,136 and the total assets as $1,282,771. Mrs. Lydia K. Bradley, one of the richest women in Illinois, died at Peoria, III., aged 92. She was particularly known for her philanthropy, having endowed the Bradley Polytechnic institute. John C. Guinn, a millionaire mine owner, 65 years old, was severely beaten and robbed at his home in Georgia City, Mo., by robbers who first cut the telephone wires. H. R. Drew, a prominent real estate man and one of the pioneer residents of Mineapolis, Minn., died. E. H. Harriman was directed in a decision given by Judge Hough in the United States circuit court to answer all questions propounded to him by the interstate commerce commission except those relating to the purchase of the Union Pacific and Southern Pacific railroad stock in connection with the dividend of August, 1906. The Lake Carriers' association, in convention at Detroit, Mich., placed itself on record as opposing the diversion into the Chicago sanitary canal of water enough to make it a commercial waterway. Fire in East St. Louis destroyed an elevator, a grain storehouse and some freight cars, the loss being $150,000. Mrs. Eliza Matsen of Duluth, Minn., confessed that she murdered her husband. Ezekiel Gregory, an aged farmer, was slain by his son in a quarrel near Davidson. N. C. John F. Betz, one of the best known brewers in the country, and one of Philadelphia's wealthiest citizens, died after a long illness. Prince Edward F. L. Zu Innhausen Und Kuyphausen, president of the Prussian house of lords, died in Berlin. He was born in 1827. Mayor R. A. Smith of St. Paul, Minn., and his family were poisoned by tainted chicken. One person was fatally injured and others hurt by a panic caused by the explosion of a moving picture machine in St. Catherines, Ont. Another New York tenement house was wrecked by a bomb supposedly placed by Black Hand members. The new German armored cruiser Scharnhorst ran aground and was badly damaged. Secretary Taft told the senate committee in interoceanic canals that the Panama canal might be completed in about six years. The special grand jury which was sworn in to investigate the conduct of certain banks in New York county returned two indictments against William R. Montgomery, president of the Hamilton bank. At their annual meeting in Detroit the Lumber Carriers' Association of the Great Lakes decided that it would be impossible to operate their boats during the coming season at the same expense and under the same conditions as prevailed during 1907. It is predicted that there will be a great labor struggle. The Maple-Leaf mills at Kenora, Ont., were destroyed by fire. The elevator, in which was stored over 300,000 bushels of wheat, was also destroyed. The loss was $1,000,000; insured. Farmers in Stanley county South
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Big Dallas Bank Fails. Dallas, Tex.-The Western Bank & Trust Company of Dallas, the largest savings deposit bank in Texas has been placed in the hands of Henry D. Lindsey, assignee, with instructions to administer the affairs of the institution for the benefit of its creditors, Officers to the bank declare that while on October 1 it was in the best condition of its history, a quiet run has prevailed since that time and to meet it they have paid out over $900,000. After sacrificing all of their quick assets and finding the remainder hard to dispose of under pres ent financial conditions, they decided to make an assignment. The bank had a capital of $500,000 and over four thousand savings depositors.
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FINANCIAL COO Jan. 2-State Bank, Rockyford, Col., closed doors. &-Four big New York diamond firms forced into trustee's hands; liabilities, $4,500,000. 8-Chicago Great Western railroad JOHN placed in hands of D. receivers. ROCKEPELLER 16-Western Bank and Trust Co., Dallas, Tex., largest Texas saving bank, placed in receiver's
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TO FINANCIAL Jan. 2-State Bank, Rockyford, Col., closed doors. 6-Four big New York diamond firms forced into trustee's hands; liabilities, $4,500,000. 8-Chicago Great Western railroad JOHN placed in hands of D. receivers. ROCKEPELLER 16-Western Bank and Trust Co., Dallas, Tex., largest Texas saving bank. placed in receive
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FINANCIAL Jan. 2-State Bank, Rockyford, Col., closed doors. 6-Four big New York diamond firms forced into trustee's hands; liabilities, $4,500,000. 8-Chicago Great Western railroad JOHN placed in hands of receivers. ROCKEFELLER 16-Western Bank and Trust Co., Dallas, Tex., largest Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank, Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors, following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. 16-People's National bank, Aspin, Col., closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon, Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, Jun. $1,800,000. 3-Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed Jul. doors. -National Deposit bank, Philadelphia, Pa., closed by comptroller of cur17-Farmers rency. and Merchants' Banking Co., Cleveland, O., failed. 22-Standard Oil $29,240,000 fine dectsion unanimously reversed by United States court of appeals at ChiAug. engo. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's Oct. hands. 16-Union National bank, Sommerville, Pa., closed by government. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sen23-Eldred tence. bank of Eldred, Pa., suspended; capital stock, $100,000. Dec. 7-National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed, following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors.
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FINANCIAL Jan. 2-State Bank, Rockyford, Col., closed doors. 6-Four big New York diamond firms forced into trustee's hands; liabilities, $4,500,000. δ-Chicago Great Western railroad placed in hands of JOHN receivers. D. ROCKEFELLER 16-Western Bank and Trust Co., Dallas, Tex., largest Texas saving bank pleased in
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APPLY FOR MANDAMUS HOGUE WAS CONVICTED Of Perjury In the Federal Court at To Compel Attorney General DavidDallas-Committed to Jail to son to Approve Issue of Bonds Await Sentence. From Hidalgo County. (Herald Special.) (Herald Special.) Austin, Texas, May 28.-Application Dallas, Texas, May 27.-The jury in for mandamus was filed in the suthe United States district court this afternoon about 4 o'clock returned a preme court today to compel Attorney. General Davidson to approve an issue verdict of guilty in the case of W. J. of $175,000 bonds of Hidalgo county, Hogue, charged with perjury. Hogue was at once committed to the Dallas which Assistant Attorney General Sluder refused to approve, holding county jail as a federal prisoner. that the drainage act of the Thirtieth Judge Meek will pass the sentence legislature is unconstitutional. fixing the term of punishment. Judge Meek late this afternon ruled in favor of the three indicted officers NOT CONNECTED AT ALL. of the suspended Western Bank and Trust company of Dallas in their conStandard Denies It Has Anything In tention that they be not committed to Common With Texas Oil Co. the custody of the United States marshal pending the trial of their cases; (Herald Special.) that they are entitled to their liberty New Orleans, La., May 28.-The on bond until they have been convictStandard Oil company, in a signed ed. It is expected that the trial of statement made here today, denies these cases will be begun tomorrow having any connection with the Texbefore Judge Meek. to wreck the Evangeline Oil com-
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THREE INDICTMENTS AGAINST W. c. WITTWER. He is Charged With Illegally Receiving Bank Deposits as Cashier at Dallas, Texas. Dallas, Texas, Sept. 9.-Charging him with illegally receiving bank deposits, three indictments were returned in the district criminal court here J esterday against W. C. Wittwer, formerly cashier of the suspended Western Bank and Trust Company in this city. The bank failed in January, 1908, for more than a million dollars.
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AN INDICTED BANKER. Dallas, Tex., Sept. 9.-Charging him with illegally receiving bank deposits, three indictments were returned in the district criminal court here yesterday against W. C. Witwer, former cashier of the suspended Western Bank & Trust company of this city. The bank failed in January, 1908, for more than $1,000,000.
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INDICTS CASHIER THREE TIMES Dallas, Texas., Sept. 10.-Charging him with illegally receiving bank deposits, three indictments were returned yesterday against W. C. Witwer, formerly cashier of the suspended Western Bank & Trust Co. of this city. The bank failed in January, 1908, for more than $1,000,000.
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Texas Banker Indicted. DALLAS, Tex., Sept. 9.-Charging. him with illegally receiving bank deposits, three indictments were returned in the district criminal court here yesterday against W. C. Witwer, formerly cashier of the suspended Western Bank and Trust company of this city. The bank failed in January 1908 for more than a million dollars.