22201. Puget Sound National Bank (Everett, WA)

View Charter #4796 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4796
Charter Number
4796
Start Date
July 17, 1895
Location
Everett, Washington (47.979, -122.202)

Metadata

Model
gpt-5-mini
Short Digest
1012b8fa

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1895-08-07
Date receivership terminated
1896-08-03
OCC cause of failure
Fraud
Share of assets assessed as good
6.5%
Share of assets assessed as doubtful
23.1%
Share of assets assessed as worthless
70.4%

Description

The bank closed by order of directors on July 17, 1895 (lack of funds; to liquidate). A receiver (L. K. Church) was appointed by the Comptroller in early August 1895. No newspaper account describes a depositor run; this is a suspension leading to receivership/closure.

Events (5)
1. September 23, 1892 Chartered
Source
historical_nic
2. July 17, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors cited lack of funds; bank to liquidate and liabilities reported $55,000, indicating insolvency/financial failure rather than a rumor-driven run.
Newspaper Excerpt
the Puget Sound National bank of this city did not open its doors this morning. A notice was posted on the door as follows: 'Closed by order of the directors.' The directors telegraphed to Comptroller Eckels this morning that lack of funds compelled them to close their doors.
Source
newspapers
3. August 7, 1895 Receivership
Source
historical_nic
4. August 7, 1895 Receivership
Newspaper Excerpt
The comptroller of the currency has appointed Hon. Lewis K. Church receiver of the Puget Sound National bank of Everett, Wash. The bank suspended July 17, 1895.
Source
newspapers
5. July 21, 1896 Other
Newspaper Excerpt
the receiver, ex-Gov. Church, at once began paying off the liabilities dollar for dollar. All depositors were paid in full.
Source
newspapers

Newspaper Articles (17)
1. July 18, 1895 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, July 18, 1895

Click image to open full size in new tab

Article Text

LATE NEWS BY WIRE Items of General Interest From All Over the Universe. Santa Cruz, Cal., July 17.-Blackie Pilkton, at one time mayor of Mattoon, Ills, died here today, aged 77. Berlin, July 17.-An American lady, Miss Maltby, has obtained the degree of doctor of philosophy at the Gottingen university. San Antonia, Texas, July 17.-Fremont C. White, private at Fort Sam Houston, committed suicide today by shooting himself. Tacoma, Wash., July 17.-A special from Everett says that the Puget Sound National bank there closed its doors to d ay. Liabilities, $55,000. The bank will liquidate. It is thought the comptroller will appoint a receiver in a few days. Aurora, Mo., July 17.-W. L. Lopdon, ex-cashier of the Aurora State bank, which clossed its doors last April, was arrested last night on the charge of having received money on deposite when he knew the bank was insolvent. He was released on bond. He is a man highly esteemed in the community. Portland, Ore, July 17.-The notortous Nat Blum and W. B. Jackling. filed a petition in the United States circult court, asking for a large compensation for betraying their fellow smugglers, testifying at the trials for the prosecution and for having furnished information which led to the seizure of the old Haytien republic. Columbus, O., July 17.-Elaborate preparations are being made for the institute of the Young People's Christian Union of the United Presbyterian church, which will convene here Aug. 21. Three thousand delegates from all parts of the United States and Canada are expected. Hall-fare railroad rates have been secured. Sedalia, Mo., July 17.-Fire this morn ing destroyed the boot and shoe store of the Van Wagner and Henney Shoe company. Gentry and Conley's gentlemen's furnishing store and John Walmsey's gents furnishing and tallor estblishment. Loases amount to $60, 000; insurance half, Carthage, Mo., July 17.-The county court has let the contract to M. E. WIIIiams of Springfield for the concrete to be laid around the new court house and square and there is much Indignation because Carthage stone, of which the building is constructed, is not to be used. An effort will be made to annul the contract. Omaha, July 11-A package containIng $6,000 has mysteriously disappeared from the Pacific Express company's of. fice. It came in the United States Express company business and was rent to the Pacific office where It passed through the hands of four employee and then dropped out of sight. The police are thoroughly pazzled and can secure to trace of thief or the money. Tex women who is proof of her back be does not require such unging to play something on the plano, Doston Transcript. COULD Improve on 11-Mrs. Norris-

2. July 18, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 18, 1895

Click image to open full size in new tab

Article Text

AN EVERETT BANK FAILS. The Puget Sound National, of That City, to Be Wound Up. Everett, July 17.-Special.-The Puget Sound National bank of this city did not open its doors this morning. A notice was posted on the door as follows: "Closed by order of the directors." The directors telegraphed to Comptroller Eckels this morning that lack of funds compelled them to close their doors. The liabilities are $55,000. It is expected that a receiver will be appointed and the affairs of the bank wound up. The bank's capital stock is $50,000. The president is A. J. Hayward; cashier, A. S. Taylor. Snohomish, July 17.-Special.-Upon being interviewed this afternoon County Treasurer Mish said that while the county had some money on deposit with the Puget Sound National bank at Everett, which closed its doors this morning, it was fully protected. Neither the county nor the treasurer will lose any money. The stockholders are mainly Milwaukee people of wealth, and the assessment which will be made will pay the obligations.

3. July 18, 1895 The Providence News Providence, RI
Article from The Providence News, July 18, 1895

Click image to open full size in new tab

Article Text

National Bank Closed, Tacoma, Wash., July 18.- - A Ledger special from Everett, says the Puget Sound National Bank, there has closed its doors by order of the directors. Th liabilities are $55,000. The bank will liquidate. It is thought the comptroller will appoint a receiver in a few days. A. J. Hayward was president.

4. July 18, 1895 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 18, 1895

Click image to open full size in new tab

Article Text

Puget Sound Bank Closes. Tacoma, Wash., July 18.- A Ledger special from Everett, says : The Puget Sound National bank has closed its doors by order of the directors. Liabilities $55,000. The bank will liquidate. It is thought the comptroller will appoint a receiver in a few days. A. B. Hayward was president.

5. July 20, 1895 The Silver Blade Rathdrum, ID
Article from The Silver Blade, July 20, 1895

Click image to open full size in new tab

Article Text

EVERETT NATIONAL BANK CLOSED Liabilities, $55,000-Assets So Far Have Not Been Stated, Tacoma, July 17.-A Ledger special from Everett says: The Puget Sound National bank closed its doors today by order of the directors. The liabilities are $55,000. The bank will liquidate. It is thought the comptroller will appoint a receiver in a few days.

6. July 24, 1895 The Ely Miner Ely, MN
Article from The Ely Miner, July 24, 1895

Click image to open full size in new tab

Article Text

THE NEWS. Compiled From Late Dispatches. DOMESTIC. ROSWELL G. HORR, of New York, and William Hope Harvey, of Chicago. began an eight-day contest in Chicago over the currency question, the former speaking for gold and the latter for silver. ORDERS were issued by the post office department abolishing the post office at Pisgah, Morgan county, Ill. NEBRASKA silver democrats will hold a state convention in Omaha on Au29. grust AT a. meeting in Louisville the leading distillers of Kentucky decided to make no whisky in the state during the season beginning July 1, 1895, and ending July 1. 1896. A SLEEPING car conductor and porter were arrested at Detroit for smuggling Chinamen in berths from Canada. THE floods along the Rio Grande put 12 square miles of East El Paso, Tex., under water and all traffic was blocked. AT a meeting in Chicago of the supreme executive board of the American Protective association a resolution was unanimously adopted against the giving of lectures by ex-priests and exnuns under the auspices of the organization, and declaring that the order is not making war on the Roman Catholic religion, but on its political features. AT the twentieth annual convention in Chicago of the National Amateur Press association William Hancock. of Fargo, N. D., editorof Prairie Breezes, was elected president. THE ninth annual convention of the Association of American Agricultural Colleges and Experimental Stations opened at Denver. JAMES and Thomas Maloney and James McNerney were arrested near Union City, Pa., where they were counterfeiting silver coin. HIGHWAYMEN held up the Wilmot Springs stage near Howard Hill, Ore., and robbed the driver and a passenger of $300. CASHIER L. T. PARRISH, of the Farmers' bank of Orrick, Mo., was missing with $20,000 of the bank's money. FIGURES compiled by the treasury bureau of statistics in Washington for the last fiscal year show the exports of merchandise to have been $731,860,319, or excess of exports over imports of $75,732.943; gold coin and bullion, $66,131,183, or excess of exports over imports of $30,984,449; silver coin and bullion, $47,226,612, or excess of exports over imports of $37,707,684. THE family of C. C. Newton, en route from Marion, Ind., to Arkansas, ate "III 'oroqseror at suoo.usnusnouosjod and three of the children died. TAE Richelien hotel in Chicago, H. V. Bemis, proprietor, went into the hands of a receiver with liabilities of Z. T. LEWIS, the Urbana (0.) bond forger, also floated many thousands of dollars of spurious bonds of Indiana towns. WILLIAM BROSSEAU, the accomplice of Mrs. Nellie Pope in the murder of Dr. Horace N. Pope, on February 2, in Detroit, Mich., was sentenced to twenty-five years imprisonment. THE bank of Norborne, O., and the Carrollton county (0.) bank were placed in the hands of receivers. ACCORDING to the annual report of the American Bible society it printed 1,000,000 Bibles during the year. HUGHES FISHER, an old soldier at Uniontown, Pa., extracted a bullet from his leg which he received thirtythree years ago at the battle of Gaines THE Puget Sound national bank of Everett. Wash. closed its doors with liabilities of $55,000. A BR.DGE on the Santa Fe road fell with a freight train near Monument. Col., and three persons were killed and twelve others were injured, three fatally. AT New London, Conn., four sailors, members of the engineers' gang of the torpedo boat Eriesson, were fatally scalded by the bursting of a hot water pipe. MANY homesteaders will lose the work of years because of irregularities found in the affairs of the Marquette Mich.) land office. BECAUSE his divorced wife would not remarry him Joseph Nickma shot her 'dead at Miller, Neb., and then killed himself.

7. July 24, 1895 Watertown Republican Watertown, WI
Article from Watertown Republican, July 24, 1895

Click image to open full size in new tab

Article Text

-By the will of A. N. Towne at San Francisco, Cal., all the property of the dead railroad man is left to his wife. -C. M. Ward, husband of the actress Fannie Batchelder, has been acquitted of the charge of forging a check for $221. -Assignee Markel of the Bell estate at Duluth, Minn., has decided to raise money and carry the contested case into court. -Lightning struck the dry goods store of McGrath & Wilcox at Amboy, III., setting it on fire and causing a loss of $10,000. -Mayor Hughes of Clinton, Ia., discharged all but four policemen in the interest of economy. Business men condemn the action. Elias Boyer, living near Bluffton, Ind., has had the hiccoughs for nine days. As he is 65 years old and in poor health it is feared he may die. -Burglars entered the home of Link Pitzel at Sunnydale, Kas., chloroformed Pitzel and his wife and left with $275 and a gold watch. -A man supposed to be C. O. Davis, the defaulting bank cashier of Peru, Ia., was arrested at Aspen, Col. He claimed he was D. Marion of New York. -Miss M. E. Maltby, formerly a teacher in the high school at Massillon, O., has obtained the degree of doctor of philosophy at Goettingen university, Berlin. -Charles Morris of Cincinnati, clerk at the Hotel Porter, Niagara Falls, has left the city, taking with him about $200 of his employer's funds. He was 27 years of age. -Secretary Hoke Smith left Washington for his home, Athens, Ga. While away he will make three speeches in that state on the financial question, beginning at Gainesville. -Dr. Fraker, the alleged insurance swindler of Kansas, is said to be in Holland. -Liston Houstis of Mobile, Ala., was stabbed twelve times by Romain Boyd in a quarrel over a girl. -Mrs. Anna Richards, aged 30, took too much chloroform for stomach trouble and died at Decatur, Ill. -A reunion of "Mosby's men." that famous Virginia cavalry company, is to be held at Marshall, Va. -Wing dams are being built in the St. Joseph river, Mich., to deepen the channel for river steamers. -Philadelphia Irishmen sent another $1000 to aid the Irish national federation in the Parliamentary elections. -The Delaware peach crop is estimated at 1.500.000 baskets, worth $750,000-greater than it has been in ten years. -Domestic coal at Birmingham, Ala., has gone up 25 cents and steam coal 15 cents as a result of the recent combine. -Supt. Byrnes' old detective bureau in New York is to be wiped out. The new men selected are young, strong and honest. -The Sampson building in Dallas, Tex., which has been undergoing repairs, fell in. burying a number of the workmen beneath the debris. -The Canadian government will insist upon the British government removing the schedule against the importation of cattle unless slaughtered at port of debarkation. -It is believed at Washington that the injury sustained by the torpedo boat Eriesson on her speed run consisted of the wrecking of the starboard engine. Fears are expressed that repairs will consume a long period of time. -In a fire at Sedalia, Mo., which did $50,000 damage, three firemen were seriously injured. -G. H. Stevens of Turner, N. D., was arrested charged with smuggling cattle across from Manitoba. -The Puget Sound National bank, Everett. Wash., has closed its doors. The liabilities are $55,000. -Twelve square miles are under water at East El Paso, Tex., and the damage already aggregates $15,000. -A highwayman who was caught near Lemont, Ill., was severely drubbed and then thrown into the canal. -Bolivia has calmed down and the boundary line troubles will be amicably settled, owing to papal mediation. William Steers was shearing a mule at Fairbury, III. The animal kicked, the shears cut an artery, and Steers died. Four hundred of the 700 ventilated fruit cars ordered by the Southern Pacific have been delivered and are now in use. -The United States war vessel Monterey has arrived at Panama from Peru. After coaling she will sail for San Francisco. -Scarlet fever has again become epidemic in West Duluth, Minn., and the physicians are being kept busy night and day. -The crisis in the choice of a new Chilian ministry remains without a solution. Congress has been forced to take a recess. -Massachusetts Populists nominated G. Gerry Brown of Brockton for governor and reaffirmed the Omaha platform.

8. July 24, 1895 The Representative Saint Paul, Minneapolis, MN
Article from The Representative, July 24, 1895

Click image to open full size in new tab

Article Text

MORE GOOD TIMES. THEY ARE WITH US TO STAY. Here is an item. Everett, Wash., July 18.-The Puget Sound National bank here has closed its doors by order of the directors. The liabilities are $55,000. The bank will liquidate. It is thought the comptroller will appoint a receiver in a few days. A. J.° Hayward was president. And here is another: One hundred men were laid off at the Northern Pacific shops, at Como, Tuesday night, and it is reported that another lot of almost seventy-five were laid off last night. Inquiry at the general offices of the Northern Pacific this afternoon elicited a denial of any knowledge of the matter. It was said that the superintendent of motive power, who has his office at the shops, would be the only person having a knowledge of the facts. And here is another: Massillon, O., July 18.-There having been much discussion here as to the accuracy of the report sent out from Spring Valley, Ill., to the effect that several hundred miners in that district had volunteered to enter into slavery if guaranteed the necessáries of life by the mine owners, an inquiry was sent to Mayor Delmagro, of Spring Valley, and the following reply has been received: "I am unable to say whether our miners would accept such an offer as was described in the telegram. I firmly believe, however, that over onehalf of them would be willing to sign such an ironclad contract." And here is another: Chicago, July 20.-L. W. Kedlec, a well known druggist and Democratic politician, died suddenly today, his death apparently resulting from grief over business reverses. Late last night his store was closed on a judgment and he was immediately afterwards taken ill. And here is another: Ishpeming, Mich., July 21.-(Special.)Striking miners failed to induce the men at Champion and Republic mines to walk out Saturday, but threaten to march 1,000 men to each mine in the morning and stop all work. The men were paid last week for June labor and many envelopes showing earnings were posted about the city, showing that a large number of miners earned less than a dollar a day. One miner, Richard Bullock, received 92 cents a day for 24 days, out of which was taken $1 for relief club and $4 for rent, leaving him $16.08 to support himself, wife and 11 children for a month. Many earned even less, while others received good pay. The miners have thoroughly organized. All meetings are conducted according to parliamentary rules and all persons suspected are compelled to take oath to support the strike. Contrary to reports sent from here by certain correspondents, neither the men nor the companies show any signs of weakening and serious trouble is apprehended unless the mines make some concessions. And still the villianous daily papers howl about prosperity and "sound money."

9. August 8, 1895 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, August 8, 1895

Click image to open full size in new tab

Article Text

LATE NEWS BY WIRE Items of General Interest From All Over the Universe. Brooklyn, Aug. 7.-The funeral of Mrs. T. DeWitt Talmage took place today. Lockport, N. Y., Aug. 7.-John Hodge dropped dead today of heart disease. He was grand master of the Masons of this state last year and a prominent and innuential citizen. Washington, Aug. 7.-The comptroller of the currency has appointed Hon. Lewis K. Church receiver of the Puget Sound National bank of Everett, Wash. The bank suspended July 17, 1895. Washington, Aug. 7,-Word reaches this city of the precarious. illness of Justice Strong, of the supreme court (retired) at Lake Minewski, N. Y., where his family is staying. The justice's illness is due to the results of a fall down a flight of stairs by which he received severe Internal injuries. His advanced age renders his condition crit ical.

10. August 8, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 8, 1895

Click image to open full size in new tab

Article Text

L. K. CHURCH RECEIVER Of the Puget Sound National Bank of Everett. Everett, Aug. 7.-Special.-Ex-Gov. L. K. Church has been appointed receiver of the Puget Sound National bank of this city, Bank Examiner Carson, now in charge. receiving a telegram to that effect today.

11. August 8, 1895 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, August 8, 1895

Click image to open full size in new tab

Article Text

BANK RECEIVER APPOINTED. WASHINGTON, Aug. 7.-The comptroller of the currency has appointed Hon. Lewis K. Church receiver of the Puget Sound National Bank of Everett, Wash. The bank suspended July 17, 1895.

12. August 15, 1895 The Pioneer Press Miller, SD
Article from The Pioneer Press, August 15, 1895

Click image to open full size in new tab

Article Text

Receiver Appointed. Washington, Aug. 9.-The controller of the currency has appointed Hon. Lewis K. Church receiver of the Puget Sound National Bank of Everett, Wash. The bank-suspended July 17, 1895.

13. October 23, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 23, 1895

Click image to open full size in new tab

Article Text

Treasurer Mish Gave Up the Securities Everett, Oct. 22,-Special.-In the suit brought by Receiver Church, of the Puget Sound National bank of Everett, against W. M. Mish. county treasurer. to recover certain securities held as collateral for the deposit of county funds, a settlement was made by the return of the collateral, defendant being satisfied that he could not hold it. The county funds in the bank are amply protected, and it would not pay the treasurer to go to the expense of litigation to retain these securities.

14. March 10, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, March 10, 1896

Click image to open full size in new tab

Article Text

Court Notes. Math Petrich, of Austria, was admitted to citizenship yesterday by Judge Humes. A marriage license was issued yesterday for Clarence S. Ward and Mrs. Ida Johnson, both of Seattle. Judge Emery obtained an order yesterday afternoon in the United States district court for the sale of the steamer Albert Lea at the Central wharf next Friday morning at 11 o'clock to satisfy claims amounting to $207. Louis K. Church, receiver of the Puget Sound National Bank of Everett. yesterday filed in the Federal court suits against the following persons: N. D. Walling. promissory note of June 5. 1895, $190: John E. McManus, promissory note of March 15, 1895, $550: S. A. Hartman. promissory note of June 15. 1895, $190; and Samuel H. Nichols, promissory note of May 3, 1895, $300.

15. July 22, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 22, 1896

Click image to open full size in new tab

Article Text

An Everett Bank Pays Up. Everett. July 21.-Special.-At a meeting of the stockholders of the Puget Sound National bank, of Everett, yesterday. A. 8. Taylor, cashier of the bank, was elected agent, and the receiver, ex-Gov. Church, at once began paying off the liabilities dollar for dollar. All depositors were paid In full. Gov. Church will remain in charge until Mr. Taylor's bond is formally approved by the comptroller. The action of the stockholders In thus fully meeting the obligations of the stockholders causes very general good feeling among all concerned.

16. March 12, 1897 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, March 12, 1897

Click image to open full size in new tab

Article Text

# YESTERDAY IN THE COURTS DAMAGE SUITS AGAINST F. P. PFLEGRAR & SONS RESUMED, Depositions of McKeesport, Pa., Tube Makers Offered Yesterday-Judgment for William I. Healy-William and John Gay Offer a 10 Per Cent. Settlement- Other Court Notes. In the United States court yesterday afternoon a motion to strike out and expunge in the case of Louis K. Church of Everett, Wash., against Edwin Ayres of Saybrook, this state, was argued. The question involved is the materiality of the plaintiff being ap- pointed receiver of the Puget Sound National bank of Everett. Superior Court-Civil Side-Judge Thayer. The suits of Harbona Stephens and Minnie V. Hauser against Frank P. Pfleghar & Sons, to recover $5,000 each, for the deaths of young Harbona Ste- phens and Joseph C. Hauser, both of whom were killed in the English & Mersick fire, which resulted from an explosion of acetyline gas, on the 31st of January, 1896, were resumed in the superior court before Judge Thayer yes- terday. Mr. Frank P. Pfleghar, sr., was put on the stand yesterday morning and described the explosion. He said that Hauser was employed that morning in attaching a valve to one of the gas cylinders. The explosion threw Mr. Pfleghar from his seat to the floor and ruptured his left eardrum. He was badly burned about the face and hands. The valve, he said, was of steel, with a brass cap. He identified one in evi- dence as of a similar pattern. Mr. Maximillian Grimm, superintend- ent of the Acetyline Gas works in New Jersey, from which the two cylinders of gas were procured, told how acety- line gas is manufactured, and its prop- erties. The cylinders of gas which were sent here were filled and sent un- der his personal supervision. Mr. Grimm has been engaged in the manufacture of acetyline gas since 1895 and was put on the stand as an ex- pert. At the conclusion of Mr. Grimm's tes- timony, the depositions of M. F. Kelly, Thomas H. Finney and E. E. Dunlap of McKeesport, Pa., were read. Mr. Kelly is foreman of the National Tube works in McKeesport, where the tubes which were exploded by acetyline gas at the time of the fire were manufactured. Mr. Kelly in his deposition stated that the tubes on cylinders were tested to 3,700 pounds pressure to the square inch and that each tube was stamped after being tested. Mr. Finney is tester at the works and E. E. Dunlap is shipping clerk. After the reading of a deposi- tion in answer to cross examining ques- tion from the same men, the case was continued until next Tuesday morning at 10:30. # JUDGMENT FOR PLAINTIFF. In the suit of William J. Healy against Annie Fallon and Hugh Fallon, and Frederic, Abraham and Philip Silverthau, as mortgage holders, Judge Thayer rendered a decision yesterday in which he gives judgment for the plaintiff to foreclose the property in question, which is located on Daggett street if they do not pay on or before the last Monday in May the sum of $1,625.98, with interest and costs. The suit was over a builder's contract. # DEMURRERS OVERRULED. In the suit of Harry Richards of Botson against Samuel J. Carpenter and William P. Shattuck, both of Min- neapolis, the plaintiff's demurrers to the answers of the defendants are over- ruled. The complaint alleges that the defendant agreed to give Richards a quarter interest in a certain toy if he would advance money for its manu- facture. He advanced $500, and then, he alleges, the defendants gave the ex- clusive right to manufacture the toy to the Waterbury Button company on a royalty. He claims an account of all monies paid on the royalties, which, he says, have been large. He claims also judgment for $500 and $10 damages.

17. May 9, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, May 9, 1897

Click image to open full size in new tab

Article Text

# A BANK CASE. # Judge Hanford Files an Opinion as to Jurisdiction of Courts. Judge Hanford yesterday handed down an opinion in the case of the County of Snohomish vs. the Puget Sound National Bank of Everett, A. J. Hayward et al., denying the motion to dismiss the case, and overruling the demurrers to the bill. The motion to dismiss the case was based upon the ground that the superior court of Snohomish county, in which the suit was originally brought, did not have jurisdiction. In the opinion of Judge Hanford, however, said court being a court of superior and general jurisdiction in common law and equity cases, is a court of competent jurisdiction for the trial of the issues tendered by the averments of the bill. As a court of equity having jurisdiction of the parties, it had the power to remove an unfaithful or incompetent trustee and to thereafter administer the trust for the benefit of those having rights according to the principles of equity. The jurisdiction of Federal courts in civil causes is concurrent with the jurisdiction of state courts, except in cases where the Federal jurisdiction is made exclusive by some provision in the constitution or laws of the United States, and the court had not been referred to any such provision applicable to the case at issue. The jurisdiction of the superior courts is not barred by the rule of law that an estate or property in the custody of one court can be interfered with by process from another court. The assets of the defendant bank were not brought under the control or protection of the Federal court by being taken into custody by a receiver appointed by the comptroller of the currency, nor by the transfer from the receiver to the agent of the shareholders. The opinion cites a decision by Judge Morrow, of a California case (Statler vs. California National Bank) presented by the counsel for the defense, which had been reversed by the supreme court of the United States, in which a writ of certiorari had been granted. The opinion of Chief Justice Fuller is then quoted In its bearing on the case. In the second page of the opinion Judge Hanford says: "I find by the complainant's statement of the case in the bill of complaint that the case is one of which this court might have taken original jurisdiction as a suit of a civil nature arising under the laws of the United States. It appears to me to be a suit against an agent of the shareholders of a national bank, elected in a manner provided for by an act of congress and authorized by the same act to take from a receiver the entire assets of the bank, remaining undisposed of, for the purpose of winding up the affairs of the banking association, and to that end empowered by the same law to prosecute and defend actions, and also required to render a final account of receipts and vouchers to the United States circuit or district court, for the district in which the bank was located. "The object and purpose of the suit," the court found, "was to restrain the agent from proceeding to dispose of the property in his hands, held in his trust capacity, and from settling and compromising liabilities of certain debtors of the bank and to take the whole of the remaining assets of the bank out of his hands so that the complainant may realize therefrom a sum of money for which it has a claim against the bank. The bill calls for a discovery and for an accounting by the agent and for the appointment of a receiver to take the remaining assets into his custody, to the end that the court having jurisdiction of the cause may have complete control of the assets, and power to dispose of the same, and distribute the proceeds. For all practical purposes, this is a suit to wind up the affairs of an insolvent bank, and jurisdiction of such cases is conferred upon the court by the laws of the United States defining the jurisdiction of circuit courts."