23188. Maverick Bank (Douglas, WY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 7, 1888
Location
Douglas, Wyoming (42.760, -105.382)

Metadata

Model
gpt-5-mini
Short Digest
54e021c8

Response Measures

None

Description

Multiple contemporaneous dispatches report the Maverick Bank of Douglas, Wyoming assigned (assignees named) and closed due to inability to collect outstanding debts. Reports state assets exceed liabilities and deposits were small (~$6,000). This is a private bank that closed and had assignees/receiver — classified as suspension leading to permanent closure/receivership.

Events (2)

1. January 7, 1888 Receivership
Newspaper Excerpt
The Maverick Bank assigned to-day. Alexander T. Butler and Charles D. Broadbeck are the assignees. The cause is said to be inability to collect outstanding debts. The assets are said to exceed the liabilities.
Source
newspapers
2. January 7, 1888 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Inability to collect outstanding debts; illiquid because securities (mortgages on local property) could not be realized.
Newspaper Excerpt
The Maverick bank, of Douglas, Albany county, closed its doors yesterday morning. A. T. Butler and Chas T. Broadbeck are the assignees.
Source
newspapers

Newspaper Articles (11)

Article from New-York Tribune, January 8, 1888

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Article Text

EMBARRASSMENTS IN BUSINESS. CHICAGO, Jan. 7.-A dispatch to The Daily News from Douglas, Wyoming, says: The Maverick Bank assigned to-day. Alexander T. Butler and Charles D. Broadbeck are the assignees. The cause is inability to collect outstanding debts. The assets are said to exceed the liabilities. The institution was largely patronized by cattle men." PITTSBURG, Jan. 7.-The Baden Gas Company is de elared to be insolvent. Kuox & Reed, counsel for W. P Redgers. receiver of the Baden Gas Company. to-day made am application in court for the sale of the framchises and effects of that company. He says that it will be necessary to convert the property of the company into cash. The court was asked to direct the recriver's future course by a suitable order upon the ap. pileation. MEMPHIS, Jan. 7.-M. Goodman & Co., retail jewellers, were closed to-day by attachments amounting to $9,000. Their liabilities are placed at $20,000; assets are about $10,000.


Article from Seattle Daily Post-Intelligencer, January 8, 1888

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Article Text

(Maverick Bank Assigned. CHICAGO, Jan. 7.-A special to the Daily News, from Douglas, Wyoming, says that the Maveriok bank assigned today. Alexander T. Batler and Ohas. D. Broadbeek are the asignees. The cause is said to be an inability to collect outstanding debts. The sebeta are said to exceed the liabilities. The institu tion was largely patronized by cattlemen.


Article from The Cheyenne Daily Leader, January 8, 1888

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A DEAD MAVERICK The Maverick Bank of Donglas Closes Its Doors. The Maverick bank, of Douglas, Albany county, closed its doors yesterday morning. A. T. Butler and Chas T. Broadbeck are the assignees. The suspension was not unexpected and very few people will be distressed, as the deposits did not exceed $6,000. The institution was a private concern, owned chiefly by Mayor Garver. the cashier. The First National, the surviving bank, is regarded here as a sound financial institution, being managed by Richards Bros. and backed by Northwestern officials. Those best informed state that it was simply a case of too sharp competition, one bank being quite sufficient for the town. Garver, who is regarded as a man of great integrity, declares that those interested will lose nothing.


Article from The Palatka Daily News, January 8, 1888

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CONDENSED DISPATCHES. Reuben Crawford, for many years chief inspector of the United States Revenue Department for North Carolina, East Tennessee and Northern Georgia, but more recently in charge of a more extensive field, with headquarters at Cincinnati, died in this city to-day, after a brief illness The National Bank of Greenville, S. C., has been designated as a depository of public moneys. A fire at Louisa Court House, Va., last night, resulted in the destruction of twenty-one out of twenty-four business houses and shops in the town. The new hotel recently erected by R. P. Cammack escaped the flames. The burned district did not embrace the residence portion of the town and not more than a dozen families lived in the houses burned. The Maverick Bank, at Douglas, Wyoming, has assigned. The cause is said to be inability to collect outstanding debts. The assets are said to exceed the liabilities.


Article from The Morning News, January 8, 1888

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Article Text

A Bank in Trouble. CHICAGO, Jan. 7.-A special to the Daily News from Douglas, Wyo., says: "The Maverick Bank assigned to-day. Alexander T. Butler and Charles D. Broadbeck are the assignees. The cause is said to be an inability to collect outstanding debts. The assets are said to exceed the liabilities. The institution was largely patronized by cattlemen."


Article from Richmond Dispatch, January 8, 1888

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Bank Failure. [By telegraph to the Dispatch.] CHICAGO, January 7.-A special to the Daily News from Douglas, Wyoming, says: The Maverick Bank assigned to-day. Alexander T. Butler and Charles D. Broadbeck are assignees. The cause is said to be an inability to collect outstanding debts. The assets are said to exceed the liabilities. The institution was largely patronized by cattle-men.


Article from Great Falls Tribune, January 11, 1888

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Article Text

Cattlemen's Bank in Trouble. CHICAGO, January 8.-A special to the Daily News from Douglas, Wyoming, says: The Maverick bank, assigned today to Alexander T. Butler and Charles D. Broadbeck. The cause is said to be inability to collect outstanding debts. The assets are said to exceed the liabilities. The institution was largely patronized by cattlemen.


Article from Butte Semi-Weekly Miner, January 11, 1888

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The Maverick Bank Assigns. CHICAGO, January 7.-A special to the Daily News from Douglas, Wyoming, says: The Maverick Bank assigned to-day. Alexander T. Butler and Charles D. Broadbeck are the assignees. The cause is said to be inability to collect outstandings. The assets are said to exceed the liabilities. The institution was largely patronized by cattlemen.


Article from The Bozeman Weekly Chronicle, January 11, 1888

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Latest News. Secretary Lamar tendered to the President his resignation as Secretary of the Interior, and it was accepted by the President. His formal resignation it is understood, will not go into effect until noon of Tuesday next. An effort will probably be made by some Senators not members of the judiciary committee to reach an understanding in the Lamar case should the committee not act upon it. Many, even of those who will oppose confirmation, are becoming tired of the necessity of receiving and answering letters of inquiry and letters of advice on the subject and wish to have the matter out of the way. Gen. Alfred Terry is seriously ill at the Grand Hotel in New York. He is in about the same condition that Secretary Manning was in for a long time. A special to the Daily News from Douglas, Wyoming, says: The Maverick bank assigned to-day. Alexander T. Butler and Chas. D Broadbeck are the assignees. The cause is said to be an inability to collect outstanding debts. The -assets are said to exceed the liabilities. The institution was largely patronized by cattlemen. 8 A Helena special to the Pioneer Press 1 says: No reliable returns have been received as to the condition of stock throughout Eastern Montana and stockmen are somewhat uneasy. A fortnight of inclement weather would result in y f serious losses. The thermometer ranges from 14 to 24 below zero with an average b e of a foot of snow on the ground. e It is not expected that any measure of r great public interest will come before e house of representatives for action this y week. A great many bills introduced c last Wednesday have not yet been printh ed and the more important committees it of the house have as yet little to consider S and nothing to report. Judge Kreckel, in the United States Circuit Court, rendered a decision t, of importance to cattle man. The case was one of which Charles C. Hudson, b had shipped 378 steers from Bennington, 1 Kansas, with orders to have them in g the Kansas City stock yards the next S day, in time for the markets. The Unin on Pacific railroad failed to do this and n the cattle were sold the next day, when h the market was dull, at a loss of $766. Hudson sued and recovered the money. Judge Krecker's decision to-day was in e the form of a refusal to grant the motion r for a new trial. : The silver bar shipment of Butte for 1the past year foots up to 3,752 bars, e weighing almost 200 tons, and vulued at e $5.943,608. t


Article from The Livingston Enterprise, January 14, 1888

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NEWS OF THE WEEK. Congressman James S. Rollins died at his home in St. Louis, Monday. The Kentucky legislature on Tuesday, in joint session, elected Beck for a third successive term in the United States senate. The Maverick bank at Douglas, Wyoming, has assigned. The cause is said to be inability to collect outstanding debts. Assistant United States Treasurer Canda has resigned to accept the position of vice president of the Western National bank of New York. Four men were killed and seven severe ly injured by a premature blast while at work on the Lehigh Valley railroad near Laurel, Pa. The senate committee or, territories has instructed its chairman to report favorably the bill for the division of Dakota and the admission of south Dakota as a state. Grand Master Workman Powderly's condition still remains critical. His physicians are of opinion that another hemorrhage would result fatally. An effort will be made to take him to Florida as soon possible. A telegram from the Russian frontier states that eight Nibilists, including a Cossack, Tschernoff, condemned to death for making an attempt on the life of the czar, during his visit to the Don Cossack country, were hanged at St. Petersburg January 2. A frightful accident occurred to the Portland, Me., express between Bradford and Haverhill, Mass., Monday, by the the track and into house. Nine persons were cars a tank leaving crashing killed outright and a number of others more or less seriously injured. The almshouse in East Village, Conn., burned to the ground on the 10th, and three of the innates perished in the flames. Numbers of the paupers, who were forced to flee from the building, suffered from exposure, they having had no time to don their clothing. Two Chinamen, Dan Lee and Phil Wing, were formally baptized and admitted to the church on probation at the Hunson Place Methodist Episcopal church in Brooklyn Sunday. They are believed to be the first Mongolians ever received in th e church of this faith in America. Advices from China state that Li Hung Chang has negotiated a loan of $9,000,000 from Hong Kong and Shanghai banking and one other per corporations firm The at 51 loan cent, payable in twenty years. was to carry on the re and made necessary the lief negotiated repairing work by of overflow of the Yellow river. Sherburne G. Hopkins, the young newspaper reporter who some weeks ago sent a sham infernal machine to Chief Justice Waite for the purpose of creating a senand the news, the court at sation in police selling Washington pleaded to guilty the charge of obtaining money under false pretenses, and was fined $100. Governor Swineford, of Alaska, is on his way to Washington, whither he goes to attempt to secure legislation to restrain the rapacity of the Commercial Fur Sea company. He claims that the company rules the territory, and during the last year has exceeded by 5,000 the number of seals which it 18 allowed to kill. The New York Commercial Bulletin ports the December fire loss at $10,308, in000, against $11,200,000 for the same tim the last year. The total fire waste for the yea 1887 amounted to the extraordinary figur of $129,264,000, which has not been 36. Thi ceeded since the great Boston fire. is about $13,000,000 greater than the losse nd of 1886. H. ty, The seventy insurance companies volved in the loss on the Lambert & Bisho at Joliet, Illinois, factory claimed insurance, to hav hav been burned to secure the ry, laid their case before the grand jury tes indictment against Superintendent Whyt R rd Lambert & Bishop and others, for burnin ing for the works, is being sought for by the inrance people. int, 600 The body of Archie McNeill, who for to France to report the Smith-Kilrain priz to 3: for the London Sportsman, and who ha rkE been missing since, has been found on vabeach at Boulogue. There were distin ery, bint Irea marke on McNeill's throat, showing th ned he had been strangled. He was known all, have in his possession when last see hich 'E. bank of England notes and a watch. all 440 No which were missing when the body 495 found. No. 440 No. Senator Cullom has introduced a bi 495 E. to pension at the rate of $8 per month aimof surviving officers and enlisted men imes served 60 days in and nine Indian war or sou actually Black Hawk the in northwe the in recin the Florida Seminole war. Pensio d of and aranted to the widows of


Article from Sturgis Advertiser, January 18, 1888

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Another proof of the statements made by the ADVERTISER a few weeks ago concerning the towns established by the town lot company is that 90 per cent. of the failures that have occurred within the past two years in the west along the line of this road have been in the towns controlled by the town. lot company. Among the recent failures are: the suspension of the Gordon Press and the assignment of a large dry goods and grocery firm at the same place; the failure of a commission and produce dealer and the Maverick bank at Douglas, Wyoming. The bank closed its doors on account of being unable to realize on its securities. Their assets consist of mortgages on, Douglas property, and they cannot realize 25 cents on the dollar. The amount represented by the mortgages would purchase the whole township in which Douglas is situated. True is, the best towns along the railroad are those not controlled or boomed by the town lot company. Mrs. Smith, the mother of Ed. Smith, who killed Jerry Clancey, was in town on Tuesday. Mrs, Smith came to the Hills from her eastern home to stay with her son until after his trial, hoping to clear him of the charge of murder laid against him. She has labored hard in the matter, and for her sake, all hope the prisoner will be dealt with as leniently as possible. No one knows; no one can know, the awful agony and anguish a mother passes through owing to the conduct of a wayward son. All may turn away from a man when in trouble. Brothers, sisters, even fathers may steel themselves-nguinst one," but a mother, with a heart filled with that indefinable, subtle mother-love, will follow her erring boy through fire, plague and crime, and when the world seems almost crashing him will stand noblysat his side and bear his burdens for him. We earnestly hope that for the sake of the loving mother. the blow, now almost descending upon the culprit, may be turned aside,-hoping that this terrible experience may be a stern lesson to him that in after life he will profit by. Hnron has a coal find. A shaft has been sunk exposhigen good vein of fine quality. The Wyoming legislature is republican by two majority on joint ballot. Building Material. D. C. Comstock has 100,000 brick ready for delivery. They are made of the best clay and are well burned, making the finest and most durable brick ever made in the country.