2388. Lake City Bank (Lake City, FL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 9, 1891
Location
Lake City, Florida (30.190, -82.639)

Metadata

Model
gpt-5-mini
Short Digest
821b118b

Response Measures

None

Description

The bank suspended without notice on July 9, 1891 (Article 2). Subsequent articles report a receiver (Capt. A. B. Hagen) taking charge, indemnity and receiver bonds filed, and the president arrested on charges related to misappropriation — consistent with a suspension followed by receivership/closure. No contemporaneous run on deposits is described in the articles provided.

Events (3)

1. July 9, 1891 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank collapse expected for months; reports of serious failure and unknown asset condition; president later arrested on charges relating to funds, indicating bank-specific mismanagement/insolvency.
Newspaper Excerpt
Lake City's Pank Failed. LAKE CITY, Fla., July 9.-The Lake City Bank suspended without notice to-day, although the collapse was expected months ago.
Source
newspapers
2. July 13, 1891 Receivership
Newspaper Excerpt
The indemnity bond of $25,000 on the part of the injunctionists in the Lake City Bank case and Receiver Hagen's bond for $20,000 were filed and approved in the county clerk's office at Lake City Monday. ... Capt. A. B. Hagen has taken formal charge of the bank as receiver. (reported July 15, 1891).
Source
newspapers
3. July 30, 1891 Other
Newspaper Excerpt
Noyes S. Collins, president of the Lake City Bank, recently suspended, has been arrested on two counts, the warrants being issued ... charging him with the receiving of certain money and defaulting as to the same; the other with obtaining money under false pretenses. (reported July 30, 1891).
Source
newspapers

Newspaper Articles (4)

Article from Evening Capital Journal, July 10, 1891

Click image to open full size in new tab

Article Text

diet of baked apples and cream which greatly agrees with him. He has been daily out driving with Mrs. Blaine and the rest of the afternoon takes short walks. It is a yarn about his being propped up with pillows in bed. He never retires except at his usual time of night. Dr. Taylor says Mr. Blaine will be in his usual health again inside of a month. The death of Mr. Hamlin was a great shock to him. Mr. Blaine himself authorized the statement that he has no idea of resigning bis cabinet post. BANK ASSIGNED. MINNEAPOLIS,July 10.-FallsCity bank made an assignment this morning. Major Tillman, cashier says the liabilities are $431,000 assets (nominal) $1,223,000. Depositors will be paid in full and stockholders will possibly get 35 cents on the dollar. BAILROAD ACCIDENT. RIDDLES, July 10.-The overland train, in passing through Cow Creek canyon, loosened a large mass of earth, which came down in the shape of a slide, shoving the engine, mail and baggage cars from the track. The engine was considerably damaged, and the engineer had one hand slightly bruised. There was no other casuality. Charles Piper was in the mail car as mail agent, but was unhurt. KNIGHTS OF LABOR. NEW YORK, July 10.-General Master Workman Powderly bas issued a special circular to all local assemblies of Knights of Labor on the question of the proposed industrial conference which is to be held July 29th, to take up the platform of the farmers' alliance and join hands with the third party. The call re celved 80 little response outside of the Knights that Powderly deemed it wise to declare it off for the present and to hold a meeting on Washington's birthday, 1892. ANOTHER BANK FAILURE. JACKSONVILLE, Fla., July 10.Lake City bank failure is more serious than supposed, and the general impression is that it is a complete wreck, though the president says he will pay up. CAUSED BY GRIEF. NASHVILLE, Tenn., July 10.-Nashville society people were yesterday shocked by the announcement that Miss Effie Scovel, one of its leading members, had attempted suicide. Investigation showed that the young lady, who has been 80 depressed since the death of her mother last December that she scarcely left her room, bad this morning while in bed, reached over to a stand and grasped a large navv pistol, and deliberately placing the muzzle near her left breast, she pulled the trigger. Physicians found that the bullet had entered the chest cavity, but had not gone deep enough to touch the heart. It could not, however, be definitely located, having glanced on a bone. Her recovery is doubtful. Her sister, Miss Bettle Scovel, is literary manager of the leading faith cure paper of America. FOR IMMORAL CONDUCT. SAN ANTONIO, Tex., July 10.R. W. Moore, special treasury agent for Texas, returned yesterday from El Paso, where he has been investigating the accounts and character of Frank B. Clarke's collector of eustoms at that point. Colonel Moore has recommended Clarke's removal, on the ground of immoral conduct and neglect of business. Clarke's government accounts are all right. The dep osed efficial is young, hand. some, and one of the most influertial republicahs in this district. COMING TO TRY COLONEL COMPTON. SAN FRANCISCO, July 10.- Yesterday a military party left for the North, having been appointed members of the court to meet at Walla Walla, Wash., on the 15th instant. The party includes BrigadierGeneral Thomas H. Ruger, Colonel William R. Shafter, Lieutenant-Colonel William M. Grabam and Major A. C. Wildrick. General Ruger is accompanied by his aide, Lieutenant Leonard A. Lovering. FIRE IN A SHINGLE MILL. SNOHOMISH, Wash., July 10.--


Article from The Morning News, July 10, 1891

Click image to open full size in new tab

Article Text

Lake City's Pank Failed. LAKE CITY, Fla., July 9.-The Lake City Bank suspended without notice to-day, although the collapse was expected months ago. The deposits caught are possibly $15,000 to $20,000 only. No facts about the assets or any other direct information is obtainable. A receiver may be appointed. Noyes 8. Collins, James E. Young, John V. Brown and W. J. Winegar are the stockholders.


Article from The Morning News, July 15, 1891

Click image to open full size in new tab

Article Text

FLORIDA. Loads of melons are decaying in the warehouses at Palatka on account of heavy shipments and over-supply. Benjamin Harrison, late of the Tallahassee Floridian. is now assistant editor of the Jacksonville Standard. Editor G. A. Stevens has sold his interest in the Bartow Courier-Informant to Joe Varn, a talented school teacher of that place. B. E. Thompson exhibited a cucumber at Live Oak last week he grew on his farm that measured five feet ten inches in length and weighed 58/4 pounds. Dr. Carl Hartman, late of Rollins College, Winter Park, has accepted a flattering call to the chair of modern languages at the Centenary Tenn. Female College of Cleveland, Owing to a failure to negotiate the Lee county bonds issued for the purpose of erecting a court house, they have been ordered burned on the first Monday of next month before the court house door at Fort Myers. The Leesburg Orange Brokerage Company, consisting of well-known business men of Leesburg, has been formed, and will be ready for business when the orange season opens up next fall. J. F. McClendon is president, T. J. Ivey secretary and treasurer, and the managers are E. J. M. Padget. A. Stivender and H. C. Edwards. The indemnity bond of $25,000 on the part of the injunctionists in the Lake City Bank case and Receiver Hagen's bond for $20,000 were filed and approved in the county clerk's office at Lake City Monday. President Collins of the bank stated that, outside the county funds, which were secured, $9,500 would pay all the bank owes, that nobody would lose a cent in the end, and that the bank was in better condition than for a year past. Capt. A. B. Hagen has taken formal charge of the bank as receiver. The Palatka correspondence of the NEWS writes as follows: "John Pointz, the boy who shot a negro girl who was stealing from his father's premises some time since, was shot at by a negro man on Saturday evening. The motive was revenge for the injury to the girl. Pointz was in the Hart blook where he resides and stepped into the hall, when he saw the man at the hall door, and as he was suspicious, having been fired at before, stepped back. The negro shot and the ball struck where he was standing. Sheriff Shelby arrested one man on suspicion, but released him. He arrested another who ran but when the sheriff fired at him he stopped. Pointz identified him and on his person was found a revolver with one chamber empty." He was put into jail. John A. Graham was in court at Jacksonville Monday under an indictment charging him with obtaining $1,090 on 1,000 acres of land on false representations. Through such misrepresentation Graham obtained of Francis Irsch a check on the Seventh National Bank of the City of New York, signed by Irsch, for $1,090. The attorneys for defendant moved to quash the affidavit, upon the ground that it was the right and duty of deponent to inform himself from the public records of Pasco county whether or not Graham owned the land or had power to convey the same. Defendant's counsel read authorities to support their motion, and Mr. Call argued strongly against grauting the same. Judge Owen, upon consideration of the whole matter, granted the motion and discharged the defendant.


Article from The Morning News, July 30, 1891

Click image to open full size in new tab

Article Text

FLORIDA. The troops broke camp at St. Augustine Tuesday and returned home. The confederate reunion at Dade City Saturday promises to be a big thing. A tax of $7,500 is to be levied in Citrus county for the purpose of erecting a jail and court house. E. F. Canova drew $40 from the bank at Jacksonville Saturday, and lost it in A few minutes on the streets. A number of carrier pigeons were released at Pensacola Monday to return to their home in Washington city. It is reported that the Rev. Mr. Lee of the Episcopal church of Palatka will shortly sever his connection with that parish. A large rattlesnake was killed in Mr. Bevill's house at Fort Pierce a few days ago. It measured over six feet, and had seven rattles and a button. The general merchandise store of William Allen at Sorrento has recently been made an alliance store. His trade has increased 50 per cent., and he is doing a good business. At a meeting of the stockholders of the First National Bank of Palatka, Monday. a proposition was made and sent on to the authoritiesin Washington by their examiner here. It is the opinion of many that the bank will resume business. Orlando Record: A Florida farmer who is an accomplished lady and whose husband is a prominent practicing physician in Jacksonville is Mrs. Matthews. She sings and plays, reads well, talks and dresses well and the potatoes she raises can't be beat-that is, if they are all like those she sent the editor of the Record. Her place near this city she calls Glen Ilda. Mr. McAlister of Palatka was severely cut with a razor by a negro in St. Augustine, Monday night. It seems that he engaged the negro to drive him to the encampment. The negro charged the oxoΓbitant price of $3. He refused to pay it, which brought on an altercation. Mr. McAllster was out under the left shoulder, the gash being about two inches deep and five inches long. A young white boy about 12 or 14 years of age, named Lowe, was carrying shingles up to where they were shingling the roof of the conveyer at the elevator in Fernandina Friday, and when about the low part of the roof, lost his footing and fell about thirty feet, and was caught by the chin on the conveyor chain. The blow made a gaping wound under the chin, aud brought his jaws together with such concussion as to split several of his teeth. Palatka Herald: The home of Peter Petermann, on the Heights, one mile west of town, contains five acres with a handsome residence, stables and outhouses. There is also an orange grove of four acres. From this grove there was shipped last year over 1,000 boxes of oranges, and this year the crop will be much larger. There has never been a year yet that there wasn't an offer of from $1 per box on the trees and upward. With proper attention a grove can be made remunerative in six years, a tiller of the soil can in the meantime make his living by cultivating between the rows. Gainesville Sun: Report was brought up from Micanopy Monday that Harmon Murray had been shot. It seems that McKinney, the man Murray shot at the other day, has been hunting for the negro ever since the day Murray shot at him. McKinney located his man Saturday night in a house on the outskirts of the town of Micanopy. Being alone, he was afraid to tackle the outlaw single-handed, as hemight get away again. So he blew his horn for two hours for help. The people in Micanopy heard the blowing, but did not know what it meant. Finally Murray came out of the house, about daylight, when McKinney at once fired upon him, and says he thinks he hit him. Murray, however, made good his escape. Noyes S. Collins, president of the Lake City Bank, recently suspended, has been arrested on two counts, the warrants being issued by Justice Frank D'Ferro on affidavits filed by James E. Young, the one charging him with the receiving of certain money and defaulting as to the same; the other with obtaining money under false pretenses. Both affect the county funds, and the latter involves W. J. Winegar of