21391. Bank of Salt Lake (Salt Lake City, UT)

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: June 23, 1896
Location: Salt Lake City, Utah (40.761, -111.891)

Metadata

Model: gpt-5-mini
Short Digest: 15196c9b

Response Measures

None

Description

The Bank of Salt Lake (private bank owned by J. H. Bacon) closed its doors on June 23, 1896 after New York correspondents refused to honor drafts. An assignment to an assignee was made immediately and later receivers (Frank Knox and C. H. Jacobs) were appointed and took possession, so the institution suspended and entered receivership (permanent closure). No discrete depositor run is described in the articles; cause of suspension is correspondent failure/refusal.

Events (3)

1. June 23, 1896 Other

Newspaper Excerpt: The deposits are about $269,000 ... I have turned over every dollar in my possession to the assignee, Mr. Frank W. Ross, for the benefit of my creditors. (statement by J. H. Bacon about assignment/turning assets over.)
Source: newspapers

2. June 23, 1896 Suspension

Cause: Correspondent
Cause Details: Refusal of New York correspondent banks to honor drafts falling due, leaving the bank unable to meet a telegraphic demand and prompting suspension.
Newspaper Excerpt: The Bank of Salt Lake closed its doors this morning, and notices were posted that the sole proprietor, J. H. Bacon, had made an assignment to Frank W. Ross for the benefit of the creditors of the institution.
Source: newspapers

3. July 4, 1896 Receivership

Newspaper Excerpt: Receivers Knox and Jacobs qualify and take possession of Bank of Salt Lake (reported July 4, 1896).
Source: newspapers

Newspaper Articles (23)

1. June 23, 1896 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, June 23, 1896

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ITS DOORS CLOSED. The Bank of Salt Lake Crushed to the Wall Today. THE LIABILITIES ARE $300,000 And Assets 8400,000-Uther Banking Institutions in no Way Affected) by the Failure. A great surprise was in store for the general business public this morning. It was caused by the Bank of Sali Lake failing to open its doors for the transaction of business as usual. The rumor that the affairs of the institution had gone Into the hands of an assignee quickly spread and in a very brief space of time had been confirmed. The story of the failure 18 best told in the words of Mr. J. H. Bacon, president and sole proprietor of the bank. To & NEWS representative he said: "The deposite are about $269,000 which with $30,000 of borrowed money will swell the liabilities to about $300,000. The assets exceed $400,000, givIng me a full $100,000 lee way on which to work. Every man and woman doing business with me will not only be paid in full but will receive interest on their deposits as well. Their only loss will be the inconvenience to which they will be temporarily put. All I want is a reasonable time in which to settle and make collections. I have turned every dollar in my possession over to the assignee, Mr. Frank W. Ross, for the benefit of my creditors. I only have 85 cente left, the amount of change that happened to be in my pocket at the time the crash came. My wife didn't even reserve her dower right. Everything we had went for the benent of our creditors, my Sauitarium stocks included. "I organized the bank in February, and until recently It did a good business. I was president and sole owner and will yet re-establish myself in busIness and pay every dollar I owe. The fault is not my own. It is not that of any other man. The times alone are toblame." "Why did you not appeal to the other bankers for assistance ?" inquired the NEWS man. "Well, I thought of that last night," replied Mr. Bacon, "and had I been able to get a loan of $25,000 for only & short time it would have tided me safely over. But I knew it would be bound to leak out-such things always do, for you can't keep them quiet, and then that, too, would have gone; 80 I determined on closing the DOOTH of the bank and making the loss as small as possible." "When did you first decide to suspend business?" "Yesterday afternoon on n tele. graphic demand from New York. I was unable to comply with it and therefore the closing of the doors." A NEWS representative made an ex. amination of the papers filed with the county recorder. The list of assets and liabilities were given in minutest detail and were classified 80 far as the principal division of maseta and liabilities was concerned, but the statement seems to have been 80 hurriedly draw n up as to have precluded any attempt at tabulation or totaling. A large amount of real estate is transferred to the receiver by Mr. Bacon and bis wife and the agreement is made in the latter part of the statement that If any creditors are omitted they shall, upon proper showing, share equally with those listed.

2. June 24, 1896 The Wichita Daily Eagle Wichita, KS

Article from The Wichita Daily Eagle, June 24, 1896

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WILL BE PAID IN FULL Private Banker Bacon of Salt Lake 14 Sqre That l'e is All Right. Salt Lake, June 22-A private bonk known as the Bank of Salt Lake failed this morning. The liabilities are $250,000, which, it is said, will be paid in full. J. H. Bacon, president and sole proprietor of the bank said: "The deposits are about $269,000, which, with $30,000 of borrowed money, will swell the liabilities to about $300,000. The assets exceed $400,000, giving me $100,000 leeway on which to work. Every man and woman doing business with me will not only be paid in full, but will receive interests on their deposits as well. I have turned over every dollar in my possession to the assignee." Mr. Bacon said be first decided to suspend business yesterday afternoon, upon receipt of a telegraphic demand from New York with which be was unable to comply.

3. June 24, 1896 The Record-Union Sacramento, CA

Article from The Record-Union, June 24, 1896

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BANK FAILURE AT SALT LAKE. Due to Eastern Correspondents Refusing to Honor Drafts. SALT LAKE (Utah), June 23.-The Bank of Salt Lake closed its doors this morning, and notices were posted that the sole proprietor, J. H. Bacon, had made an assignment to Frank W. Ross for the benefit of the creditors of the institution. The liabilities are placed at $300,000, and the assets are valued at $400,000. The cause of the suspension was the refusal of the New York correspondents of the bank to honor drafts falling due to-day. The liabilities are in great part to local depositors. Mr. Bacon says the assets, if properly realized, will be more than sufficient to pay everybody in full. The bank was established in 1888 as a private banking institution, and in

4. June 24, 1896 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, June 24, 1896

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ITEMS FROM NAMMOTH. No Recent Strike at the EmeraidGood Ore in the wansen. Special Correspondence of the NEWS. MAMMOTH Utah, June 23, 1896.The non reported strike at the Emeraid property which was whispered round the city several days ago, upon investigation proves to be false, and there is no truth whatsoever in the matter. A member of the company's staff was interviewed today and be says there has not yet been any ore uninvered at the property. It is reported here that the Swansea Mining company are again in high spirits. From information just received from one of the Swanses staff, he re. ports that a rich body of silver ore was uncovered last Friday evening, the vein being no less than our leet in thickness. This new ciscovery alone ought to cause the Swansea stock to make another jump before the month is out. The government surveyors are busy surveying the Mammoth an: Tintle districts. Tue Ajax company commenced to run their hoist this morsing, and again began the work of hoisting good pay ore. No hoisting work at the mine has been done since the 4th inst., owing to a four-Ineb pipe being laid from the engine room down to the mine. Now this work has been accom. plished everything will run along smoothly at the Ajax property. There was considerable excitement here this afternoon when the news arrived that the Bank of Salt Lake had closed its doors, there being quite a number of depositors here at Mammoth, but when the evening paper arrived NCC 9 o'clock and put a much brighter light upon the state of affaire, the depositors left a little more at ease, and one was heard to remark that be thinks everything will turn out all right. We hope It will. Mr. Costeilo of Salt Lake IS registered at the Mammeth hotel and 18 out rustling for a city cigar fi:m. He is well pleased with the business-like appearance of Mammoth, and feels confident of booking some good orders. D. REES.

5. June 24, 1896 The San Francisco Call San Francisco, CA

Article from The San Francisco Call, June 24, 1896

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SALT LAKE SUSPENDS. The Assets More Than Sufficient to Pay Depositors in Full. SALT LAKE, UTAH, June 23.-The Bank of Salt Lake closed its doors this morning and notices were posted that the sole proprietor, J. H. Bacon, had made an assignment to Frank W. Ross for the benefit of the creditors of the institution. The liabilities are placed at $300,000 and the assets are valued at $400,000. The cause of the suspension was the refusal of the New York correspondents of the bank to honor drafts falling due to-day. The liabilities are in great part to local depositors. Mr. Bacon says the assets if properly realized will be more than sufficient to pay everybody in full. The bank was established in 1888 as a private banking institution and in 1892 it was converted into a National under the title of the American National Bank. In 1894 it was changed again to a private bank and under its first title, the Bank of Salt Lake. This is the only instance of a bank failure in Salt Lake during the past two years.

6. June 26, 1896 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, June 26, 1896

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FRAUD IS CHARGED Against the Assignors of The Bank of Salt Lake IN THE SUITS OF ATTACHMENT. Deputy Sheriffs Enter the Bank-Accusation That the Bank's Money is "Cached" Away. Developments in the Bank of Salt Lake failure are the source of much talk on the streets today. The matter 18 creating more of & sensation now than it did when the failure was first announced. Comment on the circumstances surrounding the assignment is very freely bestowed and some of it is not at all complimentary to the promotore of the bank. The friends of the banking institution are very much in the minority, to judge by street talk, while those who do not besitate in charging fraud appear to be greatly predominant. All the attachment proceedings given below, are in the same nature and all charge A Traudulent assignment to beat creditors, and this is set up as a cause of action. RECEIVERSHIP PROCEEDINGS. According to an order made last night by Judge Street in chambers, the litigants in the case of the Geyser Gold Mining company and others against James H. Bacon et appeared in theThird district court this morning in proceedings for the ousting of Assignee Ross and the appointment of a receiver for the defunct bank. The plaintiffs were represented by C. C. Day and C. S. Varian, and the de!endants by Dickson & Ellie, J. W. Judd. C. F. Loofbourow and Booth, Lee & Gray. The defendants' attorneys protested that the papers in the case had been served upon them but a short time and they desired is continuance until tomorrow morning at 10 o'clock in order to give them an opportunity to at least read the documents in question. Judge Street said that tomorrow be was obliged to take his wife, who has been very ill for some time, out of town to a place where also could regain her health, and the necessity being very urgent, he would be unable to hear the case tomorrow, but suggested that if Judge Hiles could be induced to take the matter up it could go before him at the time desired by the defendants. Mr. Varian thought by taking the action before Judge Hiles tomorrow it would necessitate the trial of the case before two judges,as it would doubtless be returned to Judge Street next week, Judge Hiles having a criminal case set for Monday morning. He suggested, therefore, that a continuance be had until Monday morning. "Judge Hiles,"continued Mr. Varian, "may also be interested in this case to some extent, either as a debtor or creditor. Judge Ellis-Judge Hiles, according to the published statement, had four bits in the bank when It busted, and I think be would waive that. SET FOR MONDAY. After agreement between |the attorneyson both sides, Judge Street set the hearing of the receivership proceedings for 10 o'clock Monday morning, unless Judge Hiles can be prevailed upon to take up the matter sooner. MORE ATTACHMENTS. In addition to the attachments Issued last night against the bank, William Ford filed one for $1,317,75; then came W. H. Knox with another for, $1,700. followed by F. W. Hanson with IN claim for $283.22. LAST NIGHT'S SCRAMBLE. There was a scramble last night to get places near the top, 80 far ne priority 18 concerned, in attachments against the bank, and Deputy County Clerk Loomis was kept busy in his office receiving filings until after midnight. M. E. Mulvey succeeded in placing himself at the head of the list, and J. L. May came next for over $18000 of city funds. At 5 o'clock yesterday evening Deputy Sheriff Montgomery attempted to gain an entrance to the bank of Salt Lake but the door Was locked and the blinds drawn. It Was thought that Assignee Ross was in the building and deputies were placed at all entrances to prevent his egress. It was discovered, however, that Mr. Ross was not in and Deputy Steele went in search of him and at 6 o'clock found the assignee and informed him of the attachment proceedings which had been commencedagainst the bank. Mr. Ross refused to admit the deputies to the building and with the assistance of & step ladder, Deputy Montgomery, a little after 7 o'clock, climbed through the transom. He then admitted Deputies Steele and Guthrie and immediately pasted the following notice on the glues panel of the door: CLOSED

7. June 30, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, June 30, 1896

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The petition for the appointment of a receiver and the displacement of the assignee in the case of the defunct Bank of Salt Lake was called up in Judge Street's court at 10 o'clock yesterday morning, but neither side was anxious to proceed right away and it being intimated that there was a probability of Mr. Bacon consenting the appointment of a receiver and in order to give the parties an opportunity to confer with a view of arriving at an understanding, the hearing was postponed until 2 o'clock. There was quite a large attendance in the court room and a great deal of interest was manifested in the outcome. Later in the day it was learned that petitions asking that the assignee be allowed to remain and that a receiver be not appointed were being circulated among the creditors of the bank. Some signed this petition and a great many others refused. POSTPONED AGAIN. At 2 o'clock Attorney A. C. Ellis on behalf of Mr. Bacon said his client had not had time to file his answer to the petition and complaints in intervention. His desire was that the affairs of the bank be administered in such a way that the creditors should get the fullest possible benefit from the assets. The only portions of the petition and complaints in intervention which he cared to deny were the allegations of fraud and collusion and he desired in order that the hearing might proceed that it be considered that his answer denying these charges had been filed. Mr. Varian objected to making any admissions and asked that the hearing proceed. Mr. Ellis intimated that his client would not object to the appointment of a receiver as it was immaterial to him whether the estate was wound up by an assignee or a receiver, provided he was a good and competent man who would make the most of the assets. Mr. Varian asked if the defense was willing for a temporary receiver to be appointed. Judge Judd, who represented the assignee, Mr. Ross, and several creditors, objected with the remark that the appointment of a receiver was the point they had come to try. There was considerable talk of an irrelevant nature, and finally it was agreed that the hearing go over until 2 o'clock today. The indications, however, are that the hearing will be but short and that the appointment of a receiver will be consented to, although Colonel Ellis said the assignment was good and regular in every way and would stand if tested. WANT TO OPEN THE SAFE. Mr. Varian called the court's attention to the fact that although the sheriff was in charge of the premises, he had not access to the safe. Mr. Varian said he had filed a petition asking that the sheriff be given the keys of the vaults and allowed to take charge of their contents. Judge Henderson, of counsel for the assignee, objected to any change being made in this regard until after the question of the receivership was settled, and Judge Street ordered that it go over also until 2 o'clock today. ANOTHER ATTACHMENT SUIT. A. H. Boxrud filed an attachment suit against the Bank of Salt Lake. The amount claimed is $3,479.51, alleged to have been deposited in the bank by the plaintiff and seven others who have assigned their claims to the plain-

8. July 4, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, July 4, 1896

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The stopping of the Bank of Salt Lake has proved the immediate cause of the suspension of the Eagle Foundry and Machine company and late on Thursday evening a receiver for the foundry company was appointed by Judge Hiles in chambers. It appears that the Foundry company has been indebted to the Bank of Salt Lake for quite a considerable time in the sum of about $15,000. Nearly a year ago C. H. Withey, one of the stockholders, commenced suit for a dissolution of the corporation, but the difficulty was then bridged over and matters arranged in a satisfactory way, but when the Bank of Salt Lake failed it was seen that the Eagle Foundry company could not go on. Mr. Withey then filed a supplemental complaint by his attorneys Loofbourow & Kahn, alleging insolvency, and praying for the appointment of a receiver. The defendants, the other members of the Eagle Foundry company, consenting, the parties went before Judge Hiles and his honor appointed W. H. Remington as receiver and fixed the bond at $10,000. Mr. Remington yesterday qualified with W. S. McCornick and George M. Scott as sureties, and took possession of the property. It is said the foundry company's affairs were in such shape that within a couple of weeks they could have paid off the amount they owed the bank and gone on nicely, but the sudden stoppage upset their calculations and they were forced to take the action they did. Their liabilities are about $20,000, the greater portion of which is owing to the Bank of Salt Lake. The assets, consisting of stock in trade, machinery, etc., are valued at a conservative estimate, at $50,000 and it is said they will pay everybody in full and have a handsome surplus left.

9. July 4, 1896 The Salt Lake Herald Salt Lake City, UT

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EAGLE FOUNDRY STOPS W.H. Remington Appointed Receiver By the Court. OWED BANK OF SALT LAKE THE SUSPENSION OF WHICH CAUSED THE TROUBLE. Liabilities About $20,000 and Assets Placed at $50,000-Receivers Knox and Jacobs Qualify and Take Possession of Bank of Salt LakeGeorge Butterwood Charged With Arson-District Court Orders and Notes.

10. September 21, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, September 21, 1896

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THOMAS G. MERRILL. Attention, Depositors! After careful consideration of the reports recently submitted by the receivers of the Bank of Salt Lake, it has been decided to call a meeting of its depositors for the purpose of discussing and agreeing upon such line of action as may appear wisest to them. To this end a meeting is called to take place at Old City Hall on Thursday evening next at 8 o'clock. It is also desired that a committee representing the depositors of the First Bank of Mercur be in attendance that an expression may be had from that source. M. E. MULVEY, L. C. TRENT.

11. September 23, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, September 23, 1896

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# Attention, Depositors! After careful consideration of the reports recently submitted by the receivers of the Bank of Salt Lake, it has been decided to call a meeting of its depositors for the purpose of discussing and agreeing upon such line of action as may appear wisest to them. To this end a meeting is called to take place at Old City Hall on Thursday evening next at 8 o'clock. It is also desired that a committee representing the depositors of the First Bank of Mercur be in attendance that an expression may be had from that source. M. E. MULVEY, L. C. TRENT.

12. September 25, 1896 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, September 25, 1896

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# THE GREEN BAG. John O. Nielson was admitted to citizenship today by Judge Ritchie. The State land board is in session today. Elijah Sells today filed a separate answer in the suit of C. H. Jacobs and Frank Knox, receivers of the Bank of Salt Lake et al vs the Dalton & Lark Gold, Silver and Lead Mining and Milling company et al. A. E. Hyde and Jesse W. Fox Jr., today filed with the clerk of the Third district court an answer to the complaint in the suit against them brought by the First National Bank of Park City to recover $472.50 alleged to be due on a note. The answer denies all the allegations in the complaint, says that the promissory note referred to was fully paid and prays that the action be dismissed at the plaintiff's cost.

13. September 26, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, September 26, 1896

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# Elijah Sells Answers. Elijah Sells, one of the defendants in the case of C. H. Jacobs and Frank Knox, receivers of the Bank of Salt Lake vs. The Dalton & Lark Mining company et al., yesterday filed his answer in the Third district court. All the material allegations in the complaint are denied and it is averred that upon receiving the information both from Harvey M. Bacon and James H. Bacon, that his debt had been secured he accepted the same and claimed under it and has ever since and does now claim the benefits of the same; also that he accepted the security without any intention on his part to hinder, delay or defraud the creditors of the Bacons and with the sole and only purpose of securing the debt justly due him, and the defendant contends that the making and delivery of the assignment of security to him and his acceptance thereof was proper and the same is valid.

14. October 13, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, October 13, 1896

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Holland, A. M. Grant, E. H. Hackett, Ferdinand Roys, Louis Hoberman, W. E. Hubbard, L. E. Clark, Frank W. Ross, as trustee, and St. Anthony Union Canal company, defendants, summons.The state of Utah sends greeting to Damon G. Tunnecliff, Salt Lake Hot Springs Sanitarium company, James H. Bacon, Harvey M. Bacon, Frank L. Holland, William B. Holland, A. M. Grant, E. H. Hackett, Ferdinand Roys, Louis Hoberman, W. E. Hubbard, L. E. Clark, Frank W. Ross, as trustee, and St. Anthony Union Canal company, defendants: You are hereby required to appear in an action brought against you by the above named plaintiffs in the district court of the Third judicial district of the state of Utah, and to answer the complaint filed therein within ten days (exclusive of the day of service) after the service on you of this summons-if served within this county or, if served out of this county, but in this district, within twenty days; otherwise within forty days-or judgment by default will be taken against you, according to the prayer of said complaint. The said action is brought to have a decree of this court adjudging that defendants Tunnecliff, Bacon and Holland and each of them, be required to account for and turn over under order of this court, all and singular the assets and property of the Bank of Salt Lake and of James H. Bacon, which have come into their possession or control since the sale of the assets of the American National bank to said James H. Bacon; decreeing that the $100,000 capital represented by defendants Bacon and Holland, as owners or officers of the Bank of Salt Lake, was in fact the money of defendant Tunnecliff, and so held and represented with the full knowledge and consent of said Tunnecliff, and that to the extent of said sum of $100,000 and interest thereon said Tunnecliff has no claim whatsoever upon the assets of said Bank of Salt Lake, and said James H. Bacon, until each and all depositors in said bank are first paid in full with interest; adjudging further that the certificate for 900 shares of the capital stock in defendant S. L. Hot Springs San. Co., issued to said Tunnecliff, be cancelled, and said 900 shares be decreed the property of these plaintiffs as receivers; adjudging further that the certificates for 824 shares of stock in the St. Anthony Union Canal Co., claimed to be held by Frank L. Holland, as trustee, for said Tunnecliff, to be the property of plaintiffs, and that said Holland be required to deliver to plaintiffs the key to the box containing said certificates; adjudging all other security given or transferred by said James H. Bacon to said Tunnecliff or by any other person at instance of said James H. Bacon, to be fraudulent and void as to the depositors of said Bank of Salt Lake, and to be the property of plaintiffs; to have all transfers of real estate to said Tunnecliff of property of James H. Bacon, ascertained and adjudged fraudulent and void as to said depositors, and decreed to be the property of plaintiffs: pending this action to have defendant Tunnecliff, his agents, servants and attorneys, enjoined and restrained from selling, assigning, transferring or pledging or in any manner incumbering the stock held or claimed by him in S. L. Hot Springs San. Co., and St. Anthony Union Canal Co., and to have their respective officers and agents restrained from transferring any stock upon the books of said company standing in name of defendants Bacon, Tunnecliff, Holland Grant, Hackett, Roys, Hoberman, and that foregoing officers and stockholders of said Sanitarium Co. be enjoined from voting any stock held by them or either

15. November 8, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, November 8, 1896

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District Court Orders. Frank Knox and C. H. Jacobs, receivers of the Bank of Salt Lake, vs. Damon G. Tunnecliff et al.; demurrer overruled, the court holding that the complaint states facts sufficient to constitute a cause of action. Geyser Mining company et al. vs. Bank of Salt Lake et al.; leave granted to file complaint in intervention, each defendant to be permitted to plead to the complaint. Nellie Powell vs. Salt Lake county; demurrer sustained and plaintiff electing to stand on the complaint, the action was dismissed and ten days granted to file bill of exceptions. James B. Buzzo vs. James Jennings et al.; leave granted Alfred Brown and Ephraim Foster to file complaints in intervention. Barnes Banking company vs. J. G. Kimball; demurrer withdrawn and till November 14 allowed to answer. George Busby et al. vs. Isaac Hunter; Henry A. Ferguson, administrator, substituted for M. M. Busby, deceased. North American Salt Lake and Building company vs. John H. Saniger, jr., et

16. November 22, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, November 22, 1896

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Short Rulings and Notes. J. F. Pyper vs. Salt Lake Amusement company; hearing on demurrer to complaint continued to Nov. 28. Sue B. Ebert vs. J. M. Kennedy et al.; demurrer to complaint withdrawn and defendant given till Nov. 28 to answer. L. D. Kinney et al. vs. S. H. Tolles; judgment for defendant and against L. D. Kinney and R. D. Winters for $1 and costs. Acme Stationery & Paper company vs. Harvey Hardy et al.; dismissed without prejudice. State of Utah vs. William Lewis; hearing on question of sanity set for Friday next. Green & Green vs. William Atwood et al.; motion to file amended complaint argued and submitted. Thomas W. Jennings vs. W. B. Richards; judgment for $2,257.17 by default. Estate of George W. Crowley, deceased; order made confirming sale of real estate. Estate of Salvator Maltese, deceased; order of settlement of account and final distribution made. F. W. Hansen Produce company vs. Salt Lake Grain company; defendant ordered to turn over certain books of accounts to J. W. Houston, receiver for the grain company. In the matter of Lewis L. Burning-ham charged with fornication, the demurrer was withdrawn and the defendant entered a plea of not guilty. The receivers of the Bank of Salt Lake have entered suit against John D. Spencer to recover $20.21 alleged to be due for money loaned. The Woman's Home Association.

17. December 25, 1896 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, December 25, 1896

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TAKING D. & L. STOCK. Creditors of the Bank of Salt Lake Become Mine Owners. Yesterday was a day of activity at the office of the Dalton & Lark company, and a large number of the creditors of the Bank of Salt Lake surrendered their accounts and left the office with Dalton & Lark stock in their pockets, which was valued at $1 a share, and in making the transfer stock, it was specified that the same should be issued when all of the depositors had signed an acceptance Mr. Bacon's proposition. Among the depositors, however, there were a few who refused to accept the proposition. Mr. Bacon had secured the signatures of fourteen-fifteenths of the creditors, and here he was stalled. At length, however, Mr. Rea yielded a point and decided to issue the stock to those who would accept the conditions already stated, and yesterday each depositor who had signed the agreement received the following card: Salt Lake City, Utah, Dec. 23, 1896. Commencing on Dec. 24, 1896, and continuing from day to day until finished, at the Dalton & Lark Mining company's office, room 76 Commercial block, this city, Mr. Rea will, upon receipt of claims properly assigned to him, issue stock to those who have accepted his proposition. I will at the same time and place give you my note and you can hold the stock as security until paid with interest. JAMES H. BACON. This will virtuany settle the question as to Mr. Bacon's ability to settle with his creditors, and it is understood that an application will be made at an early day for the discharge of the receivers at the bank, when it is understood that Mr. Bacon will take charge once again and make an effort to reconstruct the business of the institution.

18. January 2, 1897 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, January 2, 1897

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# The Dalton and Lark. Work has been suspended on the Dalton and Lark properties during the holidays, but in a few days will be resumed with twenty-five men on the pay roll. It is expected that in the course of the next two months something substantial will be done toward the erection of the proposed concentrating plant, and then the D. and L.'s list of employes will be largely augmented. Creditors of the now defunct Bank of Salt Lake are fast taking Dalton and Lark stock in payment of the bank's debt.

19. January 27, 1897 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, January 27, 1897

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# May Files an Answer. City Treasurer J. L. May and his sureties, W. S. McCormick and J. E. Dooly, filed separate answers yesterday to the action instituted against them by the city some weeks ago, to recover the some of $13 402.66 which was on deposit in the Bank of Salt Lake at the time of the suspension of that institution. Mr. May denies that any of the conditions of his bond have been broken, and says he is not the absolute custodian of the city's funds, he was simply the bailee and was responsible as such, but not otherwise. He further pleads that he had no safe place in which to keep the funds of the city, and that he deposited them in the Bank of Salt Lake to the credit of the city, believing the bank to be safe and solvent, and that his failure to repay the money was the result of the bank's suspension, and not through any fault of his own. The sureties make the same defense, and further allege that the bond in question was not approved by the city attorney of Salt Lake, and that it does not run to the city, as required by the ordinances. On the other hand, it is set out the bond runs to "the people of Salt Lake City, in the Territory of Utah," and was not condition for the safe custody of the city's funds, as is also required by the ordinances.

20. February 10, 1897 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, February 10, 1897

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# CAUSED A SURPRISE. City Attorney Questions J. L. May's Eligibility to Hold Office. O'HEARA ON BRAVE FIREMEN. Assistant Chief Donovan to Receive a Medal-Much Debate-Mis- cellaneous Business. Under the head of reports of city officers, at last night's Council meet- ing, Councilman Romney caused to be read a communication received by him from the city attorney, relative to the furnishing of a new bond by the city treasurer. The communication came as a surprise to the members and during its reading silence reigned supreme. It will be remembered that at last week's meeting the Council adopted a resolution requesting the treasurer to furnish a new bond within five days. Mr. May presented his bond last night, in the sum of $250,000, his suretits being W. S. McCornick, J. E. Dooly, Matthew Cullen and A. Hanauer. The communication of the city attorney is as follows: Councilman George Romney: Dear Sir-In answer to your inquiries in relatiom to a new bond required to be given by the city treasurer, there is a question which I suggest the Council should consider, namely: Whether Mr. May is at present eligible to the office of city treasurer. It is provided by section 1769, vol. 1, compiled laws of 1888, that no person shall be eligible to any office in the city government who is a defaulter to the cor- poration. If the City Council approves a new bond for the treasurer, knowing as it does that a defalcation exists, and any other or further shortage should happen during the remainder of his term, the Council ought to expect that his suretios would refuse to make good such shortage upon the ground that the treasurer was disqualified from holding office at the time the new bond was approved by the Council, and that they as sureties were not legally responsible for such shortage, This view is emphasized by the fact that the sureties on the treasurer's bond now in suit deny their liability on the ground, among others, that Mr. May has never been and is not now treasurer of Salt Lake City, because he never qualified as such; and allege that they as sureties or otherwise never made, executed or deliv- ered the bond sued upon. The defense of the treasurer, as shown in his answer in the suit referred to is in substance that he does not owe the city any money and that he is in no way re- sponsible for the loss of city funds by the failure of the Bank of Salt Lake, be- cause, as he alleges, he simply held these funds as bailee and not otherwise. It seems, however, from the records of the Third district court, that in dealing with the Bank of Salt Lake against which he has recovered a judgment for the lost funds in the sum of $13,402.66, the treasurer treats this whole matter as if this money were his own, and does not belong to the city; herein he abandons the bailes industry. This is shown by the fact that on January 12th last, without the consent or advice of the Council or other authority, so far as I know, he assigned his judg- ment against the Bank of salt Lake "for value received" to one H. H. Rea, as will be seen by a copy of an assignment hereto attached, the original of which is part of the files in that suit. Whether under the circumstances a new bond for Mr. May should be ap- proved until the shortage referred to has been made good is a question for the Council to pass upon. Councilman Romney was on his feet as scou as the recorder was through, and said: "We all know that at the commencement of the treasurer's termi a bond was filed whien we have since been told did not make the bondamen liable for the loss of tunds entrusted to his care. Therefore I believe it absolutely necessary that before we proceed any further we should know what we are doing, in order that we make no further mistakes. "With this object in view, as chairman of the finance committee I con- sulted the city attorney, whose opinion, I take it, is entitled to some weight and consideration. He is here tonight and I for one would like to hear from him. "I wish it understood, however, that as far as I am individually concerned, I have no feelings of malice toward the city treasurer. I am actuated solsy by a desire to pursue the right course. We are the custodians of the people's money and our acte should be governed accordingly." Stewart moved that the communi-cation, together with the bond, be re- ferred to the finance committee, with the city attorney associated. O'Meara-I would like to know if the new bond has been approved by the Mayor? Romney-It has not. O'Meara-Then it has no business here, taking up the time of the Coun- cil. The law distinctly says that the bond must be first approved by the Mayor and then submitted to the Council for their approval. By consent Romney read the law on what constituted default. O'Meara (to Romney)-Do you say the treasurer is a defauiter? Romney-Well, the money is not forthcoming. Wiscomb I object to any member of this Council calling J. L. May a defaulter. The least we can do is to wait until the question of who is re- sponsible for the lost funds has been settled. Romney-I do not say, neither do I desire to be understood as saying that Mr. May is a defaulter, but his answer is now on file and a matter of record. At this juncture President Newell called Wiscomb to the chair and addressing the Counell said he regarded the proceedings as a serious matter, both to the treasurer and elty government, and hoped the Council would be fair. "At last week's meeting," he continued, "we adopted a resolution requesting him to furnish a new bond within five days. He has complied with that request and what more can we ask." Mulvey was very sorry to think that the city attorny should be so harsh with the city treasurer. He character-iged his communication na "a rash one

21. November 2, 1897 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, November 2, 1897

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The supreme court yesterday handed down an opinion in the case of the Geyser Mining company et al. vs. the Bank of Salt Lake et al., appellants, Frank Knox and C. H. Jacobs, receivers, respondents. The appeal was from an order of the district court allowing Frank Knox and C. H. Jacobs, receivers of the Bank of Salt Lake, $3,600 as compensation and the attorneys for the receivers $4,300. The court, in the opinion, says: "That $3,600 was an excessive alowance and we are of the opinion that they, the receivers, should receive no more than $1,600, that would be about $200 per month. "According to the understanding when they were appointed they should have been allowed no more than a reasonable compensation for one had he served alone. * They had the assistance of a competent acountant and able legal counsel, who were paid out of the estate, they did not abandon their respective employments and continued to receive their emoluments. Mr. Knox continued to discharge his duties as president of the National Bank of the Republic. for which he received $250 per month." In regard to the allowance of $4,300 for the attorneys, the supreme court says that was excessive and orders it reduced to $3,000.

22. February 17, 1898 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, February 17, 1898

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# MISTRUSTED BANKS. Brown had an abiding mistrust of all banks, and frequently stated among his friends that no bank would ever get his money. His aversion to banks was occasioned by the loss of about $900, which disappeared upon the failure of the Bank of Salt Lake. An intimate friend of Brown's said yesterday that the murdered butcher had an immense pride in the possession of his money, and displayed it on many occasions in a reckless manner. He was in the habit of pulling large rolls of bills from his trousers' pocket when making change for his customers. Brown had always carried a gun in his pocket as a safeguard against thieves, and boasted that no man could take his money. His confidence in his power of taking care of his possessions is said by his friends to have been increased by the fact that a few months ago he coped successfully with two hold-ups. # A PREVIOUS THEFT. This is the second time that Brown has been robbed. Last July $20 was purloined from the store during his momentary absence, and Brown at the time strongly suspected one of his neighbors of having committed the theft. John McCallister, a young man who was employed in the store by Mr. Brown, stated that on Tuesday there were several people in the store presenting bills for payment. Brown remarked that he did not have enough money and that he would go up to the bank and get some more. He had a safety deposit box in the Deseret National bank and kept some money in there. But he liked to have money with him and usually had about $200 in his pocket. # HAD FULLY $200. According to the statements made by reliable witnesses, he paid out $80 to Kahn Bros. and about $22 to Rogers, the cigar dealer. Charles Brown, a brother of the deceased, stated that on the night he was murdered he had in his pocket fully $200, if not more. He kept it in a rather large buckskin money bag, and it was in gold, silver and greenbacks. It was undoubtedly known to the murderers that he had the money and that it was in his pants pocket, for that was evidently what they were after. The money bag and its contents were missing, and a diligent search did not reveal it. Nearly all of the neighbors knew something of the affair, and all agreed practically upon the time of the tragedy and the number of shots; but as to the perpetrators there are several stories. Mrs. Mayer, who lives two doors east of the place, on Fifth South street, stated that she distinctly heard two shots and then some persons ran past her door, going east. This was followed by the sound of a wagon or buggy, being driven at a rapid pace southward on Second East from the corner. Officer Heath traced the tracks of a buggy from the corner by the store south along Second East street to Sixth South, thence west to State street and along State to Eighth South, where it was lost among the number of tracks in the street. # SAW TWO MEN RUNNING. An employee of the Salt Lake Street

23. July 12, 1899 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, July 12, 1899

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Ex-City Treasurer and Bondsmen Apxious to Close the Account, CITY ATTORNEY ADVISES IT DALTON AND LARK STOCK AND BACON'S NOTE OFFERED. Out of the 2,500,000 Shares In the Mine the City Will Get 53,610 Shares, Worth Ten Cents-Matter Referred to Council Committee On Muncipal Laws. City Attorney Hall showed the council last evening how the municipality could cancel the bad debt owing by ex-Treasurer J. L. May and his bondsmen, J. E. Dooly and W. S. McCornick, growing out of the loss of $13,402.66 in city funds on deposit with the Bank of Salt Lake when it failed three years ago. The settlement, on a basis of accepting 53,610 shares of Dalton & Lark Mining company's stock, worth about 10c asked at this time, and James H. Bacon's note for the amount of the deficit, was advised by the corporation counsel, mainly because the court had sustained the defense of Treasurer May and his bondsmen to the action for recovery brought by the city. The plea of the defense was that the treasurer had exercised reasonable prudence in depositing his funds, and, therefore, as bailee, he was not liable for any loss. The city attorney's communication was referred to the committee on municipal laws, and the probabilities are that his recommendations for settlement on the basis named will be accepted by the council. Defense Pleaded Is Good. City Attorney Hall's communication stated that May's attorney set up the defense that the ex-treasurer had exercised reasonable prudence; that other business men as well as May had cash in the Bank of Salt Lake, and the institution had a good reputation up to the time of its failure. To this defense the city demurred, and the court overruled the demurrer. Mr. Hall said he had looked into the thoroughly and had come to the conclusion that the court's decision was proper and the city could not recover. Continuing, Mr. Hall told of a suit instituted by May as treasurer against James H. Bacon, who owned the Bank of Salt Lake, for $13,402.66, and said a judgment for the amount was recovered. On May 12, 1897, May assigned the judgment to H. H. Ray, receiving therefor the promissory note of Bacon, dated Jan. 13, 1897, and due one year later for $13,402.66. The note was secured by a certificate for 53,610 shares of Dalton & Lark stock. Plan of Settlement. "The defendants May, Dooly and McCornick," Mr. Hall wrote in conclusion, "are desirous of turning over to the city the aforesaid note of said Bacon and said shares of stock as collateral thereto, in full settlement of the aforesaid action against them. "The probabilities are that the stock in the near future will be of considerable value, and my best judgment is that the city should accept this offer and thus be in a position, when an opportunity offers to accept the benefits of the situation."