Germania Safety Vault & Trust Company (Louisville, KY)

Episode Information

Episode UID
2388292091165
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
238829209 hash
Start Date
January 20, 1897
Location
Louisville, Kentucky (38.254, -85.759)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cb93ff85b79109f7

Response Measures

None

Description

Failure tied to deposits at the collapsed German National Bank; subsequently assigned to another trust company.

Events (3)
1. January 20, 1897 Receivership
Newspaper Excerpt
The Germania Safety Vault & Trust company went into receiver's hands this afternoon. Chas. Taylor was named receiver.
Source
newspapers
2. January 20, 1897 Suspension
Cause
Correspondent
Cause Details
Had about $100,000 on deposit with the German National Bank which collapsed; suit alleged charter violations and improper investments.
Newspaper Excerpt
Judge Toney this afternoon appointed Charles F. Taylor receiver of the Germania Safety Vault and Trust company.
Source
newspapers
3. March 9, 1897 Other
Newspaper Excerpt
The Germania Safety Vaulty and Trust company made an assignment this afternoon to the Columbia Finance and Trust company.
Source
newspapers

Newspaper Articles (10)
1. January 20, 1897 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, January 20, 1897

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TO-DAY'S CONDENSATION. Secretary Francis' nomination was confirmed by, the senate in executive session. No opposition to the confirmation was made and no vote was taken. Brigadier-General Michael R. Morgan, commissary-general of subsistence, has been placed on the retired list of the army by operation of law on account of age. The Amsterdam and Frankfort holders of bonds of the Atlantic & Pacific railroad have approved the terms offered by the A., T: & S. F. for the purchase of the bonds of the western division of the Atlantic & Pacific railroad. Representative Fisher has presented a favorable report on the bill granting right-of-way to the Galveston & Great Northern Railway company to construct and operate a railroad through Oklahoma and the Indian Territory. Swift & Co., of Chicago, have purchased the St. Joseph stock yards with the adjacent townsite of St. George, the buildings and the entire title of the St. Joseph Stock Yards company, and will erect a mammoth packing plant and make St. Joseph an active point for all operations on the Missouri river. The legislature of Utah in joint session to-day took two ballots for senator, but without a selection. Thatcher received 21; Rawlins 16; Henderson 17; Lawrence 4; Goodwin 3; Nebeker 2. The Germania Safety Vault & Trust company went into receiver's hands this afternoon. Chas. Taylor was named receiver. This at Louisville. The Illinois legislature to-day unanimously commended to President-elect McKinly Senator Cullum as eminently qualified for a oabinet portfolio.

2. January 21, 1897 Birmingham State Herald Birmingham, AL
Article from Birmingham State Herald, January 21, 1897

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STOCKHOLDERS TO SUFFER. Louisville, Ky., Jan. 20.-Judge Toney this afternoon appointed Charles F. Taylor receiver of the Germania Safety Vault and Trust company. Suit for the appointment was brought by Herman Wille and A. M. Emler, who allege a violation of the charter. The stock of the trust company is all practically owned by the stockholders of the suspended Germania National bank. It is now said the stockholders of the bank will have to be assessed to pay depositors in full. Trust company capital stock is $200,000.

3. January 21, 1897 The Morning News Savannah, GA
Article from The Morning News, January 21, 1897

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A TRUST COMPANY IN TROUBLE. It Was Bound Up With the Defunct German Bank of Louisville. Louisvile, Ky., Jan. 20.-Judge Toney this aftemoon appointed Charles F. Taylor receiver of the Germania Safety Vault and Trust Company. The suit for the appointment was brought by Herman Wille and A. M. Emler, who ailege a violation of the charter. The stock of the trust company is practically owned by the stockholders of the suspended Geman National Bank. It is now said the stockholders of the bank will have to be assessed to pay depositors in ful. The trust company's capital stock is $200,000.

4. January 21, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 21, 1897

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NEW YORK MINING STOCKS. Bulwer $9.00 $0 49 Ontario Cholor 1 00 82 Ophir Crown Point 3 00 34 Plymouth 1 00 Con. Cal. & Va. 1 50 Quicksilver Deadwood 11 00 1 00 do pfd 50 40 Sierra Nevada Gould & Curry 1 45 Hale & Norcross. 1 10 Standard Homestake 45 29 00 Union Con Iron Silver 32 30 Yellow Jacket Mexican 42 FOREIGN FINANCIAL. NEW YORK, Jan. 20.-Evening Post's London financial cablegram: The stock markets were dull and inactive today, pending the expected bank rate reduction tomorrow. Opinions as to a reduction to 3½ are evenly divided. It is not likely, however, that the decision either way will have a great effect on the markets. No one here really believed yesterday that gold exports for the year were ikely at once; all the same, shrewd people would not be surprised to see some before long. New York appears to be buying bonds largely and carrying them here. Americans were lifeless and dull and under the New York parity all day. Copper shares were very strong. The Paris and Berlin markets were steady. The stock exchange subscription to the India famine fund reaches nearly £16,000. IN THE HANDS OF A RECEIVER. LOUISVILLE, Ky., Jan. 20.-The Germania Safety Vault and Trust Co. went into the hands of a receiver this afternoon, Charles Taylor being named. The failure was brought about by a suit filed by Herman Wile and E. M. Ealer, who claimed that the trust company did not have invested such funds as were required by law and also that it had on deposit with the German National Bank, now in the hands of Examiner Escott, about $100,000. The plaintiffs ask the appointment of a receiver, and Judge Toney named Mr. Taylor, who at once assumed charge. NEW YORK MONEY. NEW YORK, Jan. 20.-Money on call easy at 21/2@3/4 per cent; last loan 2, closed 1%@2. Prime mercantile paper 31/2@4 per cent. Sterling exchange steady, with actual business in bankers' bills at $4.871/4@1/2 for demand and at $4.843/4@4.85 for 60 days. Posted rates $4.85@1/2. Commercial bills $4.84. Silver certificates 65. Bar silver, 643/4. Mexican dollars, 503/4. BANK CLEARINGS. St. Paul-$376,617.69. Minneapolis-$905,303.73. New York-Clearings, $104,214,888; balances, $6,989,726. Boston-Clearings, $17,988,387; balances, $1,709,673. CHICAGO MONEY. CHICAGO, Jan. 20.-Money steady, unchanged. New York exchange, no market. Foreign exchange, barely steady; demand $4.87%c; sixty days, $4.843/c. TREASURY STATEMENT. WASHINGTON, Jan. 20.--Today's statement of the condition of the treasury shows: Available cash balance, $228,017; gold reserve, $142,539,820.

5. January 23, 1897 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, January 23, 1897

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The Baltimore, Md.. Iron, Steel and Tin Plate Company has asked for a receiver. It was started January 14, 1894, and a few weeks ago it was said to be in a flourisning condition. The capital stock was originally $50,000 and was increased to $100,000; $70,000 was used in betterments and, work was continued up to about February, 1896, when the factory was shut down until just before the last election. Abrahamson & Dubin, manufacturers of men's and children's trousers, Baltimore, Md.. have assigned. The People's Fire Insurance Company, through its directors, has applied to the Supreme Court of New York for a voluntary dissolution of the corporation. The Gloversville (N. Y.) Daily Standard, a newspaper established in 1890, suspended publication. Levin Bros., grocers, San Francisco, have been declared insolvent. The steel rail plant in South Chicago, Illinois Steel company, has closed for an indefinite period. Twelve hundred workmen who came to the mill for their usual daily work were surprised to find the notice posted on the big gates. The cut in the working force of the company follows a readjustment of wages of employes except skilled workmen, amounting to a decrease of from 10 to 60 per cent., from the president down to water carriers. Best & Keppler, dry goods, &c., Frederick, Md., have made a deed of trust. The Metropolitan West Side Elevated Railroad was placed in the hands of a receiver by the Federal Court at Chicago Wednesday, on the application of the New York holders of $15,000,000 of the company's mortgage bonds. The company admitted its insolvency and made no objection to the bondholders' action. A receiver has been appointed in Louisville for the Germania Safety Vault and Trust Company, the stock of which is practically all owned by the stockholders of the suspended German National Bank. The Youths' Temple of Honor of Minneapolis, Minn., a life insurance organization, has assigned. The liabilities may reach $100,000; assets small. Application has been made for a receiver for the Russell Milling Company, in Federal Courts at Fargo, N. D., and Madison, Wis., the trouble is disagreement of the stockholders. The Dodson-Hills Manufacturing Company of St. Louis has filed a chattel mortgage for $87,000 to secure creditors. William Reiman, New York, dealer in diamonds, has assigned. An attachment for $50,000 has been issued against the property of the John Good (N. Y.) Cordage and Machine Company. A special from Des Moines, Ia., says it is almost certain that there will be a big miners' strike in that district. It is the result of the coal war, which has compelled operators to reduce wages. The price of coal has been advanced in the east over $1.00 per ton. The German Savings Bank of Des Moines, Iowa, closed on Thursday.

6. January 24, 1897 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, January 24, 1897

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BUSINESS MATTERS. Steps for Removal of Receiver. Louisville, Ky., January 23.-The directors and stockholders of the Germania Safety Vault and Trust company held a meeting today, at which resolutions were adopted looking to legal steps for the removal of the receiver recently appointed, requesting the resignation of President J. M. McKnight and charging that officer with mismanaging the company's affairs. Mr. McKnight, who is under bond to appear before the United States commissioner on charges connected with the failure of the German National bank, of which he was also president, came in while Vice President Stratton of the Safety Vault company was making a speech attacking McKnight. He walked over to Stratton and the lie was passed. Stratton, it is said, struck McKnight in the face, whereupon the directors interfered to prevent further trouble. The application for a receiver will be made in court Monday.

7. January 29, 1897 The Chanute Times Chanute, KS
Article from The Chanute Times, January 29, 1897

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whipping post and pillory in Delaa iss Helen McKinley, a sister of the ident-elect, had one of the bones er right wrist broken by a fall on ice at Canton. e prospects for the fruit crop in an Territory and Southern Kansas said to be very unpromising, owing he unfavorable weather. Unless er weather comes to retard the depment, the fruit will certainly be tly injured by the later cold snaps. hn L. Sullivan has tonsilitis. nator Harris' wife is dead at Paris, D. w York Senate is to investigate ST -Senator Dor sey's wife is dead in ver. laware's "rump" Legislature has urned after issuing a violent man'O iler of the French steamer Saghaexploded off the Chinese coast, ng seventeen hands. nator Wolcott is getting little supin London for his international etary conference. rmania Safety Vault and Trust pany of Louisville has gone into hands of a receiver. llian Ashley, who sued Lucky win in San Francisco for $10,000 eduction, lost her suit. bill to grant $20 per month pento Bishop W. Perkins' widow has favorably reported by Senator '.10 adville union miners rejected the proposition of the managers, algh Governor Adams and E. V. 7! poaordde : nry Delgado, correspondent in 1 fcr a New York paper, who was isoned by the Spaniards, is dead Havana hospital from an abcess of bdomen. nator Vest of Missouri has been ally declared elected for a fourth in the Senate. Pritchard was reed in North Carolina and Hansgh in North Dakota. uisiana people hung Johnson and er, accused of the murder of five bers of the Cotton family, and iams, a wife murderer, in one t. Horrible tortures were inflicted ie first two to wring confessions them. e Cuban League of the United s is organizing a branch league ery city in this country of 5,000 or inhabitants. ther Hellstern, a deposed priest, filed suit for $50,000 for alleged ler against Archbishop Katzer, of iocese of Milwaukee. el dynamo of the Toronto, Ont., ric light plant was destroyed by nd the streets of that city are in ness. e Dodson-Hils Manufacturing any of St. Louis has filed a chatortgage to secure creditors, and irm is in the hands of a trustee. esident Cleveland has refused to on Frank L. Turner, convicted in as for counterfeiting, and Thomas obbins, Jr., of Missouri, sentenced ree months' imprisonment and 0 fine for conspiracy. legrams have been sent by a San cisco citizens' committee to the 'nors of Oregon, Nebraska. Washn. Kansas and Iowa, asking for ibutions toward a shipload of 1 to be sent to the starving people dia. refusing an application for a parfor a man convicted of pension 1, President Cleveland said: JO

8. March 10, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, March 10, 1897

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Louisville Assignment. LOUISVILLE, Ky., March 9.-The Germania Safety Vaulty and Trust company made an assignment this afternoon to the Columbia Finance and Trust company. No schedule of assets and liabilities was filed. The Germania company went into the hands of a receiver when the German National bank collapsed, J. M. McKnight being president of both institutions. It was reorganized, but was unable to do a paying business.

9. March 13, 1897 The Diamond Drill Crystal Falls, MI
Article from The Diamond Drill, March 13, 1897

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The visible supply of grain in the United States on the 8th was: Wheat, 42,763,000 bushels; corn, 26,377,000 bushels; oats, 13,723,000 bushels; rye, 3,574,000 bushels; barley, 3,213,000 bushels. In Philadelphia Capt. John D. Hart was sentenced to two years in prison and to pay a fine of $500 for taking part in a filibustering expedition against the Spanish government in Cuba. The Consolidated Building & Saving company in Cincinnati failed for $230,000. Mr. Cannon, of Illinois, chairman of the appropriations committee of the house, says the appropriations of the Fifty-fourth congress amounted to $1,043,437,018, which is $49,797,812 more than the appropriations for the preceding congress. Jelenke Bros. & Loeb, the largest department store in Charleston, W. Va., failed for $100,000. The German American bank at Tonawanda, N. Y., which suspended about ten days ago, has resumed business. The entire village of West Boylston, Mass., is to be destroyed to make way for new waterworks for Boston. Clara Rawson Jaccard died of starvation in New York. In two months she would have inherited $21,000. It is said that the amount of money involved in the inaccuracies of the books of the Brotherhood of Locomotive Firemen-while Eugene V. Debs was grand secretary and treasurer is $57,000. The first formal meeting of President McKinley's cabinet was held and affairs of state were considered, including the president's message to congress. Leslie Combs, the most noted moonshiner in Kentucky was found dead near Hazard with his throat cut, He is said to have killed 50 men. A train struck Orlando Howe and two sons on a trestle near Oliphant, Ark., instantly killing Howe and one son and fatally wounding the other boy. A Louisville & Nashville north-bound mail train was held up by six masked men near Calero, Ark., and the express car was robbed of $10,000. Anderson & Co.'s private bank at Pleasant Plains, Ill., was gutted by burglars. Three persons were killed and one other fatally wounded by a fire in a apartment building in Brooklyn, N. Y. The first official order issued by Secretary Wilson, of the department of agriculture, concerns the exportation of beef to foreign countries and provides for assurance to foreign purchasers that they receive just what they buy. The will of the late Cornelia V. R. Thayer, of Lancaster, Mass., bequeaths $200,000 to charity. The Youngstown (0.) council passed a curfew ordinance, and at nine o'clock nightly fire-alarm whistles will be blown to warn boys and girls 14 years old and less to go home. A family by the name of Wilson was drowned in Richland creek near Washington, Ind., while trying to escape from a flooded house. Damages by a freshet in the vicinity of Bedford, Ind., will reach $2,000,000, all the county roads having been washed out and swept away and farm lands ruined. At Louisville, Ky., the Germania Safety Vault & Trust company made an assignment with liabilities of $271,000. The one hundred and thirteenth session of the "Mother" conference of Methodism in America came to an end in Baltimore. The great strike of the metallic miners of Leadville, Col., which has been in progress since June 19 last, was called off by the miners' union.

10. March 17, 1897 The Ely Miner Ely, MN
Article from The Ely Miner, March 17, 1897

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OMESTIC. The Lexington savings bank of Ba timore closed its doors. Mr. Cannon, of Illinois, chairman the appropriations committee of tl house, says the appropriations of tl Fifty-fourth congress amounted to $ 043,437,018, which is $49,797,812 mo than the appropriations for the prece ing congress. Jelenke Bros. & Loeb, the largest d partment store in Charleston, W. Va failed for $100,000. The German American bank at Ton wanda, N. Y., which suspended abo ten days ago, has resumed business. The entire village of West Boylsto Mass., is to be destroyed to make wa for new waterworks for Boston. Clara Rawson Jaccard died of starv tion in New York. In two months sl would have inherited $21,000. In Philadelphia Capt. John D. Ha was sentenced to two years in priso and to pay a fine of $500 for taking pa in a filibustering expedition against tl Spanish government in Cuba. It is said that the amount of mone involved in the inaccuracies of the bool of the Brotherhood of Locomotive Fir men while Eugene V. Debs was gran secretary and treasurer is $57,000. The first formal meeting of Preside McKinley's cabinet was held and affai of state were considered, including tl president's message to congress. Leslie Combs, the most noted moo shiner in Kentucky was found dea near Hazard with his throat cut. He said to have killed 50 men. A train struck Orlando Howe an two sons on a trestle near Oliphan Ark., instantly killing Howe and one so and fatally wounding the other boy. A Louisville & Nashville north-bour mail train was held up by six maske men near Calero, Ark., and the € press car was robbed of $10,000. Anderson & Co.'s private bank Pleasant Plains, Ill., was gutted by bu glars. Three persons were killed and or other fatally wounded by a fire in apartment building in Brooklyn, N. The first official order issued by Se retary Wilson, of the department of a riculture, concerns the exportation beef to foreign countries and provid for assurance to foreign purchasers th they receive just what they buy. The will of the late Cornelia V. Thayer, of Lancaster, Mass., bequeat $200,000 to charity. The Youngstown (0.) council pass a curfew ordinance, and at nine o'clo mightly fire-alarm whistles will be blow to warn boys and girls 14 years old ai less to go home. A family by the name of Wilson W drowned in Richland creek near Was ington, Ind., while trying to esca from a flooded house. Damages by a freshet in the vicini of Bedford, Ind., will reach $2,000,00 all the county roads having been wash out and swept away and farm lan truined. At Louisville, Ky., the Germania Saf ty Vault & Trust company made an a signment with liabilities of $271,000. The one hundred and thirteenth se sion of the "Mother" conference Methodism in America came to an en in Baltimore. The great strike of the metall miners of Leadville, Col., which h been in progress since June 19 last, W realled off by the miners' union. The California Mortgage, Loan ar "Trust company at San Diego failed f $200,000. A cyclone a mile wide struck Ralsto O. T., and nearly every house in tow and in the path of the storm was blow