21379. Park City Bank (Park City, UT)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 12, 1893
Location: Park City, Utah (40.646, -111.498)

Metadata

Model: gpt-5-mini
Short Digest: 6a7e0f0d

Response Measures

None

Description

Park City Bank suspended payment and assigned to Ed(ward) Kimball on June 12–13, 1893. Reporting states assets ≈ liabilities ($130k–$150k). The suspension led to agitation and a run on the First National (another bank), not a run on Park City Bank itself. A receiver (D. C. McLaughlin) was later appointed and extensive litigation followed, indicating the bank did not resume normal operations.

Events (1)

1. June 12, 1893 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was closely pressed in its finances; assigned to Edward Kimball; liabilities reported about $130,000–$150,000; cashier (Richardson) disappeared; inability to raise on securities mentioned in reports.
Newspaper Excerpt: The Park City bank, the oldest in the town, closed its doore this morn. ing, creating great agitation among the depositors. The notice ansounce ing the suspension of payment named Ed. Kimball as assignee.
Source: newspapers

Newspaper Articles (20)

1. June 12, 1893 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, June 12, 1893

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SUSPENDS PAYMENT. The Park City Bank Goes to the Wall. RUN ON THE FIRST NATIONAL Ed. Kimball Assignee of the Insolvent Institution.-The Cashier Disappears. The Park City bank, the oldest in the town, closed its doore this morn. ing, creating great agitation among the depositors. The notice ansounce ing the suspension of payment named Ed. Kimball as assignee. The bank officers claim that the suspension is only temporary, and that all they need to get through all right is a little time to realize oa their securities. There 18 some question, however, in the minds of outside pardes as to whether there will be any resumption. The Salt Lake correspondents of the Park City institution were Wells, Fargo & Co. The failure was not on tirely unexpected in this city, as it was snown among bankers that the Park institution was closely pressed in its finances. All checks presented at for payment city banks Were, however, cashed up to Saturday, the Utan National having taken up quite a number that day. The excitement cousequent upon the closing of the Park City bank caused a run upon the romaining bank of the town, The First National. This institution WHY, however. meeting all calls promptly. Lis correspondents 111 this city are: McCormek & Co., and the Commercial National bank. They state that there is no danger with the First National. as it can meet all of its liabilities without difficulty. It is not likely, therefore, that any other financial organization will be drawn down by the failure. Cashier Richardson, of the Park City bank, was in Salt Lake yesterday, and went up to the Park. He prepared the assignment papers, and at 7 o'clock this morning took the Union Pacitic train out 01 the Park. His where. abouts were unknown to the people up there today. His absence, however, is probably on legitimate business and will be ex. plained all right. This afternoon the following special dispatch came to the NEWS: PARK CITY, June 12, 1893.-The Park City bank Resigned to Ed Kimball this morning. Liabilities unknown at present. There is great excitement the Richardson, the among cashier, is out depositore. of town and nothing is known of bis where abouts.

2. June 13, 1893 The Helena Independent Helena, MT

Article from The Helena Independent, June 13, 1893

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THEY'RE AFTER MR. MILLS. The Harvey World's Fair Enterprises in n Receiver's Hands. CHICAGO, June 12.-A receiver has been appointed for the Harvey World's Fair hotel and the Harvey Home Improvement company. The assets of the former are $85,000; liabilities, $90,000; assets of the latter. $141,500; liabilisies, $99,000. The failure is the result of an article in the Union Signal, the Woman's Christian Temperance Union organ. charging Walter Thomas Mills, the principal creditor. with irregularities in conducting the hotel. which was built with subscriptions to profit-sharing certificates. subscribed chiefly by temperance people. The improvement company was closely allied to the hotel for the purpose of furmishing accommodations, home supplies, entertainments, etc., for persons of email means. There was a stormy indignation meeting of 200 or more guests of the hotel company to-day. Numerous women prominent in W. C. T. U. circles denounced Milla. Mrs. Woodbridge and Mrs. Clara Hoffman explained how they came to invest in Mills' enterprise and naked forgiveness of those whom they induced to secure stock in the hotel. After many more speeches of the same sort the meeting broke np with the adoption of a resolution exonerating the W. C. T. U. members from all blame and stating they were deceived and misled by Mills. OMAHA. June 12.-At 4:12 this afternoon the state bank examiner closed the doors of the McCague Savings bank. No statement of the bank's condition has yet been issued and It is impossible to-night to estimate the liabilities and aggets. John L. McCague, vice president of the bank. said the auspension was due to inability to raise on securities. He fixed the liabilities at $400,000 and estimated the assets of the bank at from $460,000 to $475,000. He states positively the depositors will be paid in full. When asked whether or not the American National. which the McCagues own. would be effected by the suspension of the McCague Savings bank, he replied: "I cannot certainly see why it should." The McCagne brothers are also engaged in real estate business and their affairs ase said to be quite largely extended, although full particulars cannot be given to-night. SALT LAKE. Utah. June 12.-The Park City bank suspended to-day, assigning to Edward Kimball. Liabilities, $140,000. The assets are as much, and the claim is made that the bank will shortly resaine. TEXARKANA, Tex., June 12.-The Sulphnr Lumber company, at Sulphur, was placed in the hands of a receiver tc-day. Assets, $300,000; liabilities, $100,000. CHICAGO, June 12.-Butler Lowrey. real estate, tailed to-day. Liabilities, $80,000; assets estimated in excess of that sum.

3. June 13, 1893 Asheville Daily Citizen Asheville, NC

Article from Asheville Daily Citizen, June 13, 1893

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Bank Suspended SALT LAKE, UTAH, June 13.-The Park City Bank has suspended. Liabilities $130,000, assets as much. The assignees say that the depositors are to be paid 80 cents on the dollar.

4. June 13, 1893 The Herald Los Angeles, CA

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BANK FAILURES. Savings Banks at Omaha and Kansa City Close Doors. OMAHA, Neb., June 12.-The McCague Savings bank closed its doors this afternoon. The McCagues are the owners of the American National bank and the McCague Investment company. KANSAS CITY, Mo., June 12.-The People's Guarantee Savinge bank made an assignment today for the benefit of creditors. Its liabilities are supposed to be about $70,000 and assets between $50,000 and $65,000. The bank is said to have carried a line of deposits of $15,000. MANKATO, Kan., Jane 12.-The Bank of Burr Oak, Jewell county, closed its doore this morning. It is owned by Hurlburt Broe. and its liabilities are placed at $35,000. The assets are practically nothing. S. D. Hurlburt, one of the proprietora of the institution, has fled and his whereabouts is unknown. SALT LAKE, June 12.-The Park City bank suspended today, assigning to Edward Kimball. Liabilities, $150,000 assets as much, and the claim is made the bank will shortly resume.

5. June 14, 1893 The Times Richmond, VA

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BETTER FINANCIAL OUTLOOK. A General Feeling That the Worst is Over, Few Small Failures. WASHINGTON, June 13.-The financial condition of the country as viewed from a Treasury standpoint shows general improvement. Bank and commercial failures are fewer, Europe is buying our grain in greater quantities, gold shipments have ceased, at least for the present, confidence is being restored and money is not so tight. The Treasury net gold has increased from $89,000,000 to $91,300,000. and the demand for small money in the West will have the effect to further increase the Treasury gold. The rate of exchange is sufficiently high to warrant the shipment of gold abroad. but the fact that commercial paper is for sale in London has a deterrent effect. There is a general feeling that the worst is passed. the weaker financial institutions and business firms having suecumbed, while those that passed through so far unseathed are the stronger for having weathered the financial storm. More Bank Troubles, SALT LAKE. UTAH, June 13.-The Park City Bank suspended yesterday. The liabilities are $130,000; assets as much. A claim is made that the bank will shortly resume. The assignee says that the depositors are to be paid 80 cents on the dollar. OMAHA, NEB. June 13.-The American National Bank is in the hands of the comptroller. J. L. McCague is president, and the supposed American National's connection with the McCague Savings Bank, which falled yesterday, caused its downfall. There are heavy runs on all the savings banks here this morning, WASHINGTON June 13.-The Comp= troller of the Currency has appointed Joseph W. Bennett receiver of the Oglethorpe National Bank of Brunswick, Ga.

6. June 14, 1893 The Morning News Savannah, GA

Article from The Morning News, June 14, 1893

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MORE WILDRUNS ON BANKS A Couple of Failures Start a Rush at Omaha. All the Institutions Except the Two Previously Closed Weather the Storm-Only One Even Takes Advantage of the Sixty Days' Clause. Kansas City the Scene of a Still More Absurd Run. Omaha, Neb., June 13.-There was a run on every savings bank in the city this morning, precipitated by the failure of the McCague Savings Bank yesterday, followed by the downfall this morning of the American National Bank, in which the McCagues are largely interested. It was unofficially stated yesterday that the clearing house association would stand by its members, of which the American National is one, but when the assets of the American National Bank came to be examined they were pronounced not good enough and the aid of the associated banks was withheld. The ominous sign appeared on the door this morning and the crowd which had collected becamegreatly excited. The McCagues tried to reassure the depositors, telling them that every account would be paid in full. At the Omaha Savings Bank, the German Savings Bank, the American Savings Bank, the Globe Loan and Trust Company, and other institutions, there was a steady drain of deposits all day Cash was paid out as long as called for, and there was no apparent limit to the supply. Senator Manderson and Vice President Kimball, of the Union Pacific, directors of the bank, made speeches to the excited depositors, guaranteeing them their money, but the run continued. The Dime Savings Bank compelled its depositors to give sixty days' notice of withdrawal. This action, together with the promptness with which other banks met all demands, is believed, to have stopped what almost promised to be a panic. A CRAZY RUN AT KANSAS CITY. Kansas City, June 13.-As a result of the suspension yesterday of the People's Savings Bank, an insignificant institution with deposits of only $25,000, a run was started this morning on the Kansas City Safe Deposit and Savings Bank. The bank took advantage of the clause of its by-laws requiring depositors to give thirty days' notice of the withdrawal of deposits. That checked the run and at it noon was practically over. None of the other banks experienced a run. Just why the Kansas City Safe Deposit and Savings Bank should have been selected for a run is a mystery. It is the largest and one of the soundest institutions of the kind in the state and has the confidence of the banks and merchants generally. A RUN CHECKED AT DETROIT. Detroit, Mich., June 3.-The State Bank of Crystal Falls, Mich. has suspended as a result of the failure of the Plankington Bank of Milwaukee. The bank is only a year old and its capital is $25,000. The deposits foot up $60,000. The officers of all the savings banks in this city agreed to enforce the time limit upon withdrawals of deposits. A run was started this morning upon the People's Savings Bank, one of the strongest in Detroit, but the sixty-day notice requirement checked it. The officers coneur in a statement that "it was not for want of money that we took this action, for we could have secured enough to have paid every depositor, but we did not think this the wisest plan.' A NASHVILLE BANK SHUT. Nashville, Tenn., June -The Nashville Savings Company, of which Thomas S. Marris is owner and president. filed an assignment to-night. The liabilities are $282,876, and the assets are valued at $ 125,000. The deposits amount to $109,010 22, and the certificates of deposits to $72,911 21. Among the assets are $60,000 on deposit with Arthur, Ketcher & Co., suspended bankers of New York. In an interview President Marr says the failure was due to the shrinkage in values and steady withdrawal of money by depositors since failures have become so frequent. The recent failures of local business houses and the suspension of the Commercial National Bank also caught him for large sums. ASSETS WIPED OUT. Mankoto, Kan. June 3.-The bank of Burr Oak, Jewell county, closed its doors yesterday morning. The bank was owned by Hulbert Bros., and the liabilities are placed at $35,000. The assets are practically nothing. C. D. Hulbert, one of the proprietors of the bank, has fled and his whereabouts are unknown The depositors are greatly excited, and if he should return either of his own accord or to answer a criminal charge, there being some inclination among the depositors to prefer such a charge, he would be roughly dealt with. A BANK FAILS IN UTAIF. Salt Lake, Utah, June 13.-The Park City Bank suspended yesterday. Its liabilities are $130,000, and its assets as much. The claim is made that the bank will shortly resume. The assignee says that depositors are to be paid 80 cents on the dollar.

7. June 15, 1893 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM

Article from Santa Fe Daily New Mexican, June 15, 1893

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CONDENSED NEWS. The Exchange bank at Moberly, Mo., has assigned. Believed it will pay out in full. The Sulphur Lumber company, of Sulphur, Texas, has failed. Assets, $300,000; liabilities, $100,000. Key Rossman, who caused an explosion at a Helena, Mont., bank, is to be tried for insanity. The arbitration meeting between owners and strikers at the Kansas Coal mines is indefinitely postponed. Charles Egley, a work train employe, fell from the train at Cokeville, Idaho, and was instantly killed. The People's Guarantee Savings bank, at Kansas City, has assigned. Liabilities, $70,000; assets, $50,000 to $65,000. Extremely warm, dry weather prevailed yesterday in the Dakotas, Iowa and Miniesota. Crops are suffering. Charges of fraud and corrupt management are made in connection with the failure of the Mackaye Spectatorium at Chicago. John T. Wickham, who is wanted in Wyoming for the murder of two cattlemen during the rustler war, has skipped from Billings, Mont. The bank of Burr Oak, at Mankato, Kas., has failed. Liabilities, $35,000; assets, nothing. C. D. Hurlburt, one of the owners, has fled. The American Wheel Co.'s works, at Indianapolis, have closed and discharged the men. Branches at Memphis, Tenn., Paducah, Ky., and Hamboldt, Tenn., will also shut down. The McCague Savings bank, at Omaha, has closed. Its liabilities are estimated at $400,000 and assets at $460,000 to $475,000. Much of the latter are long-time real estate loans. The Park City bank, at Park City, Utah, has suspended. This caused a run on the First National bank, which met all demands. Cashier Richardson, of the Park City bank, is missing. Henry Lucas, while stealing a ride on a train, was run over and fatally at injured passenger Pocatello, Idaho. Before dying he said he had recently worked on a street car line in Denver. Train robbers boarded a Missouri Pacific train yesterday near Omaha and covered the engineer. At the Elkhorn crossing the headlight of an approaching engine frightened them and they fled. The report that the north line of the Cherokee Strip is to be fenced to keep out boomers is not true. There are public roads north and south at every mile, and on the border is another public road 175 miles long. Morris Wheeler, of Chicago, traded some Kansas City property for 2,400 acres of land in West Virginia. He searched for this land, but failed to find it, and James A. Bergon and Horace McKay are under $1,000 bonds in Chicago for their part in the deal.

8. June 15, 1893 The Princeton Union Princeton, MN

Article from The Princeton Union, June 15, 1893

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ASSIGNED. Salt Lake, Utah, June 13.-The Park City bank suspended to-day, assigning to Edward Kimball. Liabilities, $130,000. The assets are as much, and the claim is made that the bank will shortly resume. The assignee says that the depositors are to be paid 80 cents on the dollar.

9. September 27, 1893 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, September 27, 1893

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# THE PANIC AND THE BANKS. A most comprehensive table of statistics, calculated to show the effect of the recent panic on the banks of the country, has been prepared by and published in Bradstreet's for September 23. This consists of a complete list of the suspended institutions, including national, state, savings and private banks and trust and mortgage investment companies, grouped by states, for the eight months of 1893, together with their assets and liabilities. With few exceptions these suspensions occurred during May, June, July and August, and it is very gratifying to note that a large number have already resumed—of the four Utah institutions, for instance, in the black list all but one, the Park City bank, having gone back to business again. The full list, however valuable for historical reference, would scarcely interest the general reader, but a summary and a few leading deductions cannot fail to be of value to every one. During the eight months ending August 31, the total number of banks to suspend was 549, with assets of $176,794,417 and liabilities of $165,781,618. By states, these institutions were located as follows:

10. December 8, 1894 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, December 8, 1894

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Judge Merritt's Division. Chief Justice Merritt had a very busy morning in dealing with the usual Saturday motions, which fell upon him thick as autumn leaves between 11 o'clock and 12:30. Among the orders made were the following: Wallace, Simon & Co. vs F. J. McLaughlin & Co.; heretofore argued and submitted. The court now ordered that O. C. Lockbart pay in to the clerk the sum of $2,000, in his possession as receiver of the Park City bank, to apply first on the judgment in favor of the Syms Utah Grocery Co., any surplus to be applied upon that of the plaintiff in this case. Syms Utah Grocery company vs F. J. McLaughlin & company. It was herein ordered that E. C. Williamson deliver to the U. S. marshal 129 shares of stock in the Society Building association, with assignment thereof, to be sold upon execution and the proceeds applied in satisfaction of this judgment. Plaintiffs are also allowed to sue D. C. McLaughlin, receiver of the Park City bank, for any deficiency. Alice Foreman vs Thomas Foreman; divorce; default and decree granted as prayed. State Bank of Utah vs O. A. Woolley et al. Default and judgment entered against O. A. Woolley. Plaintiff allowed to proceed against the other defendants, Exception taken. National Bank of the Republic vs John Farmer et al, Default and Judgment. Thos Connell vs Chas. O. Farnsworth et al. Default and judgment. Annie S. Kern vs Martin D. Kern. Motion for temporary alimony, submitted upon affidavits. Defendant was ordered to pay $25 per month, $25 suit money, and $50 attorney's fee. Arthur Brown vs. the Tribune Publishing company. On motion of Judge Powers, an order was granted extending time to the defendants, till Dec. 20th, to file statement on motion for a new trial. Thos. J. Anderson vs Julia A. Anderson. Order of dismissal of action by consent, at plaintiff's costs. Utah National Bank vs Theo. Burmester et al. Motion for judgment on the pleadings argued and submitted. Syms Utah Grocery Co. vs Herbert G. Button. Plaintiff granted permission to make Utah National Bank a party defendant, In the divorce suit of Lens Hausworth vs John Hausworth, of which a good deal has been heard of late, Judge Merritt this afternoon allowed temporary alimony at the rate of $20 per month, $50 attorney's fee and costs. EQUITY CASES SET. A goodly portion of the foranoon was occupied with the setting of equity cases for hearing, and during this time the members of the bar were present in large numbers.

11. January 19, 1897 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, January 19, 1897

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Three cases were argued and submitted to the supreme court yesterday. Annie Johnston et al., appellants, vs. William Meaghr et al., was argued by Attorney R. H. Jones for the appellant and by Attorney L. R. Rogers for the respondent. The plaintiff sued to recover damages which she claimed to have sustained by reason of being falsely imprisoned in a criminal proceeding commenced and carried on by defendants from alleged malicious motives and without probable cause therefor, and which proceeding terminated after her alleged unlawful arrest and false imprisonment. In the district court judgment was entered for the defendants, from which Mrs. Johnston took the present appeal. # ENSIGN VS. FISHER. Martin Ensign, jr., vs. George W. Fisher et al., appellants, was argued by Attorney John M. Zane and J. M. Coombs for the appellant and by Attorney B. H. Jones for the respondent. The suit was brought to set aside a deed of conveyance made by the defendants, George W. Fisher and Mary F. Fisher, to their daughter, Lillie Bland. The court below found the issues for the plaintiff and ordered the deed set aside as fraudulent and made to delay and hinder creditors. From that judgment the defendants appealed. # M'LAUGHLIN VS. MULLOY. David C. McLaughlin, receiver of Park City bank, vs. Thomas F. Mulloy, appellant. The action was brought against the insolvent firm of George Kidder & Brother to compel Mulloy, the assignee of Kidder, to pay a dividend of 20 per cent to the plaintiff as such receiver of the bank on a note of Mason, Kidder & Co., from the assets of Kidder Brothers, the same to be paid to unpreferred creditors of the insolvent firm of Kidder. Judgment was rendered for the plaintiff for $1,608.66, from which this appeal was taken. The arguments were made by Judge McDaniell for the appellant and by Judge Henderson for the respondent, and their honors took it under advisement.

12. March 11, 1897 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, March 11, 1897

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M'LAUGHLIN VS. MULLOY, The Judgment of the Lower Court Is Affirmed. The supreme court also handed down an opinion in the case of David C. McLaughlin, receiver of Park City bank, vs Thomas F. Mulloy, appellant, which affirms the judgment of the court below. The opinion was written by Justice Bartch and concurred in by Chief Justice Zane and Justice Miner. The action was brought against the insolvent firm of George Kidder & Brother to compel Mulloy, the assignee of Kidder, to pay a dividend of 20 per cent to the plaintiff as such receiver of the bank on a note of Mason, Kidder & Co., from the assets of Kidder Brothers, the same to be paid to unpreferred creditors of the insolvent firm of Kidder. Judgment was rendered for the plaintiff for $1,608.66, from which this appeal was taken.

13. May 23, 1897 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, May 23, 1897

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# A NON-SUIT. In Fares Against Stockholders of Park City Bank. The case of Henry Fares against the individual stockholders of the Park City bank was resumed before Judge Cherry and a jury yesterday morning. When the plaintiff's case closed a motion for non-suit made by the defendant's counsel was sustained. The plaintiff for himself and other depositors in the bank who had funds in the institution when it failed sued the stockholders individually to recover $2,200, the amount of their deposits, claiming that the stockholders were liable individually for double the amount of their stock. The nonsuit was granted on the ground that two of the defendants, Kimball and Gregor, were stockholders of the bank and that no action would lie against them until the amount of the deficit had been established, and as the receiver admitted still having nominal assets in his hands of some $90,000, it was impossible to determine at this time what the deficit would eventually be. Thirty days' stay was given to prepare statement for new trial.

14. September 10, 1897 The Coalville Times Coalville, UT

Article from The Coalville Times, September 10, 1897

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Closing out! Until OCTOBER 15th we will sell Sash Doors, Mouldings, AND ALL OTHER Building Material At Cost For Cash. J. C. Weeter Lumber Co. Park City, Utah. THIRD DISTRICT COURT. Judge A G. Norrell, Presiding-The Proceedings. Judge Norrell and Stenographer Pike arrived in Coalville Wednesday at 1E o'clock and Court was immediately opened. The jurors were examined as to their statutory qualifications. Frank Tessman arraigned on the charge of rape, was given statutory time to plead. The following persons were cited to plead on Tuesday next: Henry Long, grand larceny; D. B. Muff and Charles Hayes, grand larceny. W. I. Snyder was appointed to defend Herbert Hulme on charge of rape, who took statutory time to plead. M. S. Aschheim Mercantile company vs. Martin McGrath; continued for the term: The two cases of Bromley vs. Neilson were stricken from the calendar. Case of Fisher vs. Evans; motion to dismiss appeal argued and submitted. Case of Ralph Maxwell vs. L. W. Smith, Jr., motion to strike out defendant's answer argued and submitted L. E. Ostein of Ogden was admitted to practice. Case of Thackeray vs. Hopkin; set for 16th inst. Case of Woolsey vs. Anchor Mining company; motion to dismiss case from callendar submitted and overruled. Case of Linden vs. Anchor Mining company; set for September 16th. Case of Thomas Cupit vs. Park City bank, demurrer to complaint argued to time of adjournment, YESTERDAY'S SESSION. The entire time of Judge Norrell was consumed in hearing the law and motion calendar yesterday. The jurors were all excused in the morning until 2 p. m., and at that time were again excused until 10 o'clock this morning. In the two cases of David C. McLaughlin, receiver of the Park City bank, vs. John M. Harrington, Sheriff, and Thomas Capit; and Thomas Cupit vs. the Park City bank and D. C. McLaughlin, receiver, the motion of defendant in the former case for continuance and the demurrer of defendant in the latter case to plaintiff's complaint were argued together by W. I. Snyder and C. S. Varian for Cupit and Arthur Brown for the bank, Submitted and taken under advisement. Ralph Maxwell vs. Lewis W. Smith; motion of plaintiff to strike out defendant's answer was allowed in part and overruled in part. Ellen Connor vs. Sam Raddon et al motion for new trial argued, submitted and overruled. Estate of Margaret Rees, deceased; decree of partial distribution entered, also decree directing executor to execute conveyance. Estate of Chester Snyder; order of sale of real estate entered and annual account of administrator allowed. The hearing on demurrer in the sheep-license cases was continued to September 16th.

15. December 12, 1897 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, December 12, 1897

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# DEMURRER SUSTAINED. May Dispose of the Case of Hunter vs. McLaughlin. The decision of Judge Hiles, rendered yesterday, sustaining the demurrer in the suit of Absalom V. Hunter vs. David C. McLaughlin, receiver of the Park City bank, practically disposes of the case. The complaint alleged that in May, 1893, the Park City bank, for value, drew its bill of exchange for $450 on Wells, Fargo & Co., making the same payable to the order of Oscar Allison. The latter sold the bill to the Carbonate National Bank of Leadville. In June, 1893, the Leadville bank presented the bill to Wells, Fargo & Co., and was refused payment. The complaint further alleged that at the time the draft was drawn the Park City bank had no funds with Wells, Fargo & Co. The court holds that the latter allegation was not sufficient excuse for the lack of diligence in the presentation of the bill for payment. The court also finds that the bill was not presented within a reasonable time; that no legal excuse was offered for not presenting it earlier, and then orders that the demurrer be sustained. Other points, however, were raised, and the case was resubmitted.

16. January 18, 1898 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, January 18, 1898

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# Park City Bank Stockholders Sued. C. McLaughlin, receiver of the Park City Bank, vs. W. B. Doddrige et al., was next taken up by Judge Hiles. The plaintiff sued to recover $27,200, alleged to be due by the various defendants upon their stock liability, they having been stockholders in the defunct bank at the time it failed. Messrs. Brown and Henderson were for the plaintiff; and Messrs. A. Howat and A. C. Ellis for the defendants. The hearing was proceeding when court adjourned until today.

17. June 26, 1898 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, June 26, 1898

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FIREMAN'S FUND. Estate of E. Kimball, in full on hotel $1,500 00 James Farrell, in full on barn, harness, wagon and feed 1,500 00 Mrs. Henry Fares, in full on millinery 500 00 P. McPherson, in full on dry goods 2,000 00 D. C. McLaughlin, receiver Park City bank, in full 2,500 00 Washington school building, damage to paint on roof 90 00 HOME OF NEW YORK. W. V. Rice, Park City bank building, in full 2,500 00 P. McPherson, in full on dry goods 2,000 00 (The first loss paid.) Estate of E. Kimball, damage to cottage occupied by Frank Foster 40 00 LANCASHIRE, LONDON & GLOBE. William and Daniel Frazier, in full on building occupied by Bates & Kimball 200 00 D. C. McLaughlin, receiver Park City bank, in full 2,500 00 NORTH AMERICAN INSURANCE CO. W. Mont Ferry, in full on residence 1,000 00 PHOENIX, OF HARTFORD. W. Mont Ferry, in full on residence 1,250 00 W. V. Rice, Park City bank building, in full 2,500 00 George Bettinger, damage to residence 12 50 Berryman & Rogers, in full on groceries 2,000 00

18. January 27, 1899 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, January 27, 1899

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# Supreme Court Cases. The Supreme court listened to arguments in the following cases today: C. E. Brubaker, respondent and cross-appellant, vs J. H. Bennett et al, appellants and cross-respondents. Thomas Cupit, appellant, vs The Park City Bank and David C. McLaughlin, receiver. J. Golden Kimball et al, appellants, vs Salisbury & Lewis. O. J. Stillwell vs the People's Building. Loan & Savings association. Application of James J. McKee for writ of habeas corpus; arguments in progress at press time.

19. January 28, 1899 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, January 28, 1899

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# PETITION FOR HABEAS CORPUS. Submitted On Briefs In the Supreme Court. The application of J. J. McKee for a writ of habeas corpus came up before the supreme court yesterday and was submitted on briefs. McKee was convicted of grand larceny in Uintah county and on Aug. 26, 1897, was sentenced to eight years imprisonment in the state prison. He was tried by eight jurors and it is now urged that an eight-man jury is unconstitutional, hence McKee prays to be released. The following cases were argued in the supreme court and taken under advisement: C. J. Stillwell vs. the People's Building, Loan & Savings association, appellants. C. E. Brubaker, respondent and cross-appellant, vs. J. H. Bennett et al. Thomas Cupit, appellant, vs. the Park City bank and David C. McLaughlin, receiver. J. Golden Kimball et al., appellants, vs. Salisbury & Lewis.

20. September 30, 1899 The Salt Lake Herald Salt Lake City, UT

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and instructions given to dismiss the suits at the cost of the receiver. Facts Brought Out. The facts brought out in the first trial were that the property of the Park City bank was. on June 12, 1893. assigned to Edwin Kimball for the benefit of the bank's creditors. Kimball was engaged in winding up the concern's affairs until his death, Oct. 10, 1893. Three days later Cornelius MeLaughlin instituted an action in the Third district court, alleging the insolvency of the bank, and asking the appointment of a receiver. He demanded a judgment for $20,000 on a certificate of deposit. On the same day D. C. McLaughlin was appointed receiver. Nov. 1, 1893, Cornelius McLaughlin died, and the action was revived in the name of his executor, Edward McLaughlin. A judgment ras rendered in his favor for $21,358.70. On Aug. 12, 1894, Edward McLaughlin filed another complaint against the bank. alleging that after exhausting all the assets of the bank there would still remain $75,000 due to the creditors. He claimed that under the state law the stockholders were liable for the full amount of stock held by them. D. C. McLaughlin was then appointed special receiver and as such instituted the actions against Mrs. Kimball and Gregor. The lower court found that the former had forty shares. and the latter fifty shares, and judgment was accordingly rendered for $4,000 and $5,000 respectively. Creditors Must Sue. The supreme court in deciding the cases held that the special receiver had no right to bring the suits in the interest of any one creditor. Summing up, the opinion says: "Unless the necessities of the occasion require, individuals and not the officers of the court should bear the responsibility of litigating their own claims. "If a receiver should be appointed in such a case, where can the line be drawn. unless drawn by the statute? If several creditors are entitled to a receiver to collect their dues from several stockholders a receiver could be appointed in any other cause where several plaintiffs are seeking recovery against several defeendants. While perhaps not so convenient a remedy, the creditor has means of complete relief in a creditors' suit against the stockholders."