Article Text
BLAINE. March 4.-It is stated that the Bank of Blaine, which recently suspended, will resume in a day or two, It is expected that the institution will be transferred to Dr. L. W. Gundloch. i
22142. Bank of Blaine (Blaine, WA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- March 4, 1901
- Location
- Blaine, Washington (48.994, -122.747)
Metadata
- Model
- gpt-5-mini
- Short Digest
946114ac
Response Measures
None
Description
Articles (Mar–Apr 1901) report the Bank of Blaine had recently suspended (Mar 4) and subsequently 'failed' about Feb 27 with liabilities and practically worthless assets. Depositors requested a receiver on Apr 15. Later reporting (Nov 1901) describes fraud/mismanagement by president H. St. John and his arrest. No explicit run is described in these items — sequence is suspension followed by failure/receivership.
Events (2)
1.
March 4, 1901
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank had failed around Feb 27; subsequent reporting indicates mismanagement/fraud by President H. St. John and assets 'practically valueless'.
- Newspaper Excerpt
- BLAINE. March 4.-It is stated that the Bank of Blaine, which recently suspended, will resume in a day or two, It is expected that the institution will be transferred to Dr. L. W. Gundloch.
- Source
- newspapers
2.
April 15, 1901
Receivership
- Newspaper Excerpt
- St. John was also president of the Bank of Blaine, of Blaine, Wash., which failed the same time as the Scandinavian-American. The liabilities of the two institutions are said to be about $50,000. It is believed the assets are practically valueless.
- Source
- newspapers
Newspaper Articles (9)
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Article Text
BLAINE, March 4.-It is stated that the Bank of Blaine, which recently suspended, will resume in a day or two, It is expected that the Institution will be transferred to Dr. L. W. Gundloch.
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Article Text
ASK FOR RECEIVER. Depositors Will Wait on Bank Which Failed No Longer. NEW WHATCOM, Wash., April 15. -After waiting 45 days at the request of the bank officers to enable them to raise funds with which to reopen the Scandinavian-American bank in this city, which failed February 27, the depositors today unanimously requested the court to appoint Robert Muir permanent receiver, and he was requested, if appointed, to take immediate steps to punish those responsible for the failure of the institution. President H. St. John, of the institution, is said to be in London to secure funds from his family with which to pay depositors. His legal adviser is in New York trying to dispose of some pictures belonging to the St. John family, with the same object in view. St. John was also president of the Bank of Blaine, of Blaine, Wash., which failed the same time as the Scandinavian-American. The liabilities of the two institutions are said to be about $50,000. It is believed the assets are practically valuelses.
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Article Text
ASK FOR RECEIVER. Depositors Will Wait on Bank Which Failed No Longer. NEW WHATCOM, Wash., April 15. -After waiting 45 days at the request of the bank officers to enable them to raise funds with which to reopen the Scandinavian-American bank in this city, which failed February 27, the depositors today unanimously requested the court to appoint Robert Muir permanent receiver, and he was requested, if appointed, to take immediate steps to punish those responsible for the failure of the institution. President H. St. John, of the institution, is said to be in London to secure funds from his family with which to pay depositors. His legal adviser is in New York trying to dispose of some pictures belonging to the St. John family, with the same object in view. St. John was also president of the Bank of Blaine, of Blaine, Wash., which failed the same time as the Scandinavian-American The liabilities of the two institutions are said to be about $50,000. It is believed the assets are practically valuelses.
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Article Text
ASK FOR RECEIVER. Depositors Will Wait on Bank Which Failed No Longer. NEW WHATCOM, Wash., April 15. -After waiting 45 days at the request of the bank officers to enable them to raise funds with which to reopen the Scandinavian-American bank in this city, which failed February 27, the depositors today unanimously requested the court to appoint Robert Muir permanent receiver, and he was requested, if appointed, to take immediate steps to punish those responsible for the failure of the institution. President H. St. John, of the institution. is said to be in London to secure funds from his family with which to pay depositors. His legal adviser is in New York trying to dispose of some pictures belonging to the St. John family, with the same object in view. St. John was also president of the Bank of Blaine, of Blaine, Wash., which failed the same time as the Scandinavian-American. The liabilities of the two institutions are said to be about $50,000. It is believed the assets are practically valuelses.
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Article Text
ASK FOR RECEIVER. Depositors Will Wait on Bank Which Failed No Longer. NEW WHATCOM, Wash., April 15. -After waiting 45 days at the request of the bank officers to enable them to raise funds with which to reopen the Scandinavian-American bank in this city, which failed February 27, the depositors today unanimously requested the court to appoint Robert Muir permanent receiver, and he was requested, if appointed, to take immediate steps to punish those responsible for the failure of the institution. President H. St. John, of the institution, is said to be in London to secure funds from his family with which to pay depositors. His legal adviser is in New York trying to dispose of some pic. tures belonging to the St. John fam. ily, with the same object in view. St. John was also president of the Bank of Blaine, of Blaine, Wash., which failed the same time as the Scandinavian-American. The liabilities of the two institutions are said to be about $50,000. It is believed the assets are practically valuelses.
Click image to open full size in new tab
Article Text
ASK FOR RECEIVER. Depositors Will Wait on Bank Which Failed No Longer. NEW WHATCOM, Wash., April 15. -After waiting 45 days at the request of the bank officers to enable them to raise funds with which to reopen the Scandinavian-American bank in this city, which failed February 27, the depositors today unanimously requested the court to appoint Robert Muir permanent receiver, and he was requested, if appointed, to take immediate steps to punish those responsible for the failure of the institution. President H. St. John, of the institution, is said to be in London to secure funds from his family with which to pay depositors. His legal adviser is in New York trying to dispose of some pictures belonging to the St. John family, with the same object in view. St. John was also president of the Bank of Blaine, of Blaine, Wash., which failed the same time as the Scandinavian-American. The liabilities of the two institutions are said to be about $50,000. It is believed the assets are practically valuelses.
Click image to open full size in new tab
Article Text
ASK FOR RECEIVER. Depositors Will Wait on Bank Which Failed No Longer. NEW WHATCOM, Wash., April 15. -After waiting 45 days at the request of the bank officers to enable them to raise funds with which to reopen the Scandinavian-American bank in this city, which failed February 27, the depositors today unanimously requested the court to appoint Robert Muir permanent receiver, and he was requested, if appointed, to take immediate steps to punish those responsible for the failure of the institution. President H. St. John, of the institution, is said to be in London to secure funds from his family with which to pay depositors. His legal adviser is in New York trying to dispose of some pictures belonging to the St. John family, with the same object in view. St. John was also president of the Bank of Blaine, of Blaine, Wash., which failed the same time as the Scandinavian-American. The liabilities of the two institutions are said to be about $50,000. It is believed the assets are practically valuelses.
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Article Text
SMOOTH RASCAL IN THE TOILS Titled Briton and His Questionable Booms. HOW HE WRECKED A BANK HAD PLANNED GREAT SWINDLING SCHEMES. Whatcom, Wash., Nov. 8.-H. St. John Dix, or H. St. John. as he was known here, who was arrested in London this morning for wrecking the Scandinavian-American bank of this city, and the Bank of Blaine at Blaine, Wash., has a history seldom found outside of fiction. According to his own story, related to confid ntial friends here, he is the eldest son of a British peer and entitled to succeed to the peerage upon his father's death. He was one of the principals in the Itata affair, when that ship left the harbor of San Diego, Cal., during the late civil war in Chile, loaded with munitions of war for the insurgents, after the American government had prohibited her departure. She was chased and captured by an American man of war and St. John was thrown into prison at Valparaiso, from whence he was released through the influence of the British minister there. The next affair of prominence in which he played a leading role was in the march of Coxey's arry from Massillon, O., to the national capital. He accompanied it in the capacity of commissary general, acting at the same time as correspondent of one of the leading Chicago papers. Afterwards he became mixed up with some irrigation schemes in Arizona. Prior to any of the events heretofore mentioned, he was a townsite boomer in Kansas, where he ran all of the principal institutions, including a bank. Was Newspaper Correspondent. He first appeared here in the capacity of a newspaper correspondent. Shortly afterwards he borrowed $9,000 from a Seattle bank, with which to buy a controlling interest in the ScandinavianAmerican bank of this city. The bank records show that he paid $3,000 for the use of this money for eight days. He then took the deposits of the Scandinavian-American bank and purchased the Bank of Blaine. Then he bought the Citizens' National bank of Fairhaven, Wash. He had formed a plan for the establishment of a string of banks to reach from Vancouver, B. C., to San Diego, Cal. Negotiations had been entered into for banks in Seattle, Tacoma and Everett, and some of these had nearly reached the point of consummation. His expensive style of living, however, had alarmed many depositors who had withdrawn their accounts. Seeing that the end was near he fled from the city, telling his associates that he was going to get help and that he had a $100,000 insurance policy in London that had just matured. His attorney became suspicious and followed him to New York, where he turned over to him some pictures, representing them to be priceless works of ancient Italian masters. but which have since proved to be practically without value. His Associates Arrested. The men whom he left here in charge of his institutions were arrested and are now awaiting trial under heavy bonds. Thirty days ago his attorney went to England to try and effect a settlement with his family. Last Monday a letter was received from St. John offering to settle with the depositors on a basis of 25 per cent cash and the remainder in three equal quarterly payments. The failure of his institutions, without a dollar being left in the vaults, caused the most intense indignation among the depositors who formed a committee to effect his arrest, and who have spent much money to accomplish it. The receiver of his institution has called a meeting of depositors for next Monday to adopt suitable resolutions of rejoicing at his capture.