Fidelity Loan & Trust Company (Sioux City, IA)

Episode Information

Episode UID
2468051091141
Episode Type
Suspension β†’ Reopening
Bank Type
trust
Bank ID
246805109 hash
Start Date
January 10, 1895
Location
Sioux City, Iowa (42.500, -96.400)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
02cf07e2362d0280

Response Measures

None

Description

Company entered receivership Jan 10–11, 1895 and was later reorganized; it did not do regular banking business.

Events (3)

1. January 10, 1895 Receivership
Newspaper Excerpt
The Fidelity Loan & Trust Company passed into the hands of a receiver today... Judge Wakefield appointed President Joseph Sampson... and Gideon H. Candee receivers.
Source
newspapers
2. January 11, 1895 Other
Newspaper Excerpt
Defaulted payment of $30,000 in the interest on debenture bonds due the first of the year; liabilities about $4,000,000.
Source
newspapers
3. March 1, 1895 Other
Newspaper Excerpt
Stockholders and bondholders have agreed upon a plan of reorganization... a new company will be formed and an assessment will be made on the stock.
Source
newspapers

Newspaper Articles (13)

Article from The Wichita Daily Eagle, January 10, 1895

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WIRE AH SMIN LATE Items of General Interest From All Over the Universe. The Charleston sailed vesterday from Chemulpo, China, for Nagasaki, Japan. William G. Saun has been confirmed as receiver of public monies at Wakeeney, Man. Henry M. Burr & Co., one of the largest wholesale and retail milliner stores in Boston, has assigned. The senate yesterday confirmed a batch of California appointments, among them being nine postmasters. The president of the Fidelity Loan and Trust company of Sioux City, Ia., admits his company insolvent; liabilities $4,000,000. Archie Gordon, a newspaper writer and author of a number of plays, died yesterday at his home in Richmond, Staten IS The civic federation of Chicago has secured the arrest of three men charged with attempted bribery in assessment matters. The death is announced of J. H. French at Beloit. Wis. Mr. French was 75 years old and was United States treasurer under President Lincoln. At Friarspoint, Miss., yesterday, Ivy Bobo, colored, was hanged for the brutal murder of his wife. Bobo made a full confession on the gallows. The hearing for a separate receiver for the Oregon Short Line set for Jan. 15, in the United States circuit court here, was 23.3 Jan. Inun peuditised Mrs. Mary Yocum of Litchfield, Neb., is in St. Louis collecting money, clothing and other necessaries for the needy farmers of Sherman county, Nebraska. The consideration of the charges against Judge Ricks of Clev reland, was again postponed yesterday by the judiciary committee of the house until Monday next. Thomas Walsh, a trusted collector of the Pacific Express company at Salt Lake City, has confessed that he stole nearly $2,000 from the company in August last. Proceedings were begun yesterday at Mexico. Mo., by John M. Marker to contest the will of William C. West, who died recently aged 92 years, and left an estate valued at $50,000. The comptroller of the currency today received notice of the failure of the First National bank at Redfield. S. D. Bank Examiner C. F. Zimmerman has been placed in charge. The police think they have unearthed band of burglars which has branches a in all the principal cities of the west, with headquarters in San Francisco. Arrests are likely to follow. Difficulty is being experienced in securing a call for a senatorial caucus in the Idaho legislature. In the senate a resolution was yesterday introduced for an equal suffrage amendment. While attempting to save a raft of sawlogs in Salt river near Shepherdsville, Ky., yesterday, W. S. Bowman, Tom McClure and Will Prentwood were carried away with the tide and drowned. The election of Elkins as United States senator is now conceded, since in the organization of the West Virginia legislature yesterday his supporters developed a majority sufficient to organize both branches. J. B. Tyrrell, dominion geological surveyor, has just returned to Winnepeg from a trip to the Hudson Bay region, never before explored by white men. Tyrrell and his companions bring back many valuable The specimens. Vault Merchants National bank of easy 01 yesterday punoj SEM "O Defander been entered and robbed by unknown parties who had closed the door in such a manner that it took an expert eighteen hours to get open. Arrangements have been made for a test vote on the Nicaragua canal bill some time this week. A motion will be made to lay the bill on the table, and from the our 201 prospects the 010A the JO result estimated eq IIIM 1119 General Passenger Agent Lomax will attend the conference of the western lines today in Chicago. The Union Pacific boycott will be considered and the prospect of the formation of a passenger association is considered brighter. The president has signed the act to exempt from duty foreign articles for exhibit at the Portland, Ore., universal exposition, and the act to amend the act B JO the authorized across the Missouri river near Jefferson ON THE Fire destroyed a large portion of the busness part of Union City, Pa., yesterday and Firemen William Rappold, Norman Anderson and Dan Conway were buried by a falling building and dangerously injured. The loss will exceed the insurance 1000'09$ sq W. W. Taylor. state treasurer of South Dakota, It is learned from reliable sources Reck- 000'008$ [east 10 JOJ defenter e SI less investments are given as the cause of his shortages. The National Bank of SI peesident SEM eq which JO Reddeld also involved. It is thought that there is little chance of securing during the present session of congress a congressional investigation of the southern negro lynchings of the past few years, the committee to which a resolution for that purpose had been referred declining to act. Yesterday the stockholders of the Colorado River Irrigation company decided to issue bonds to complete the company's canals in Southern California. In the election of officers the James H. Beatty faction was defeated by the adherents of 0 ayor Beatty. The conference between the Western, Central Traffic and Trunk roads was held yesterday, mainly to consider the question of mileage to be paid by the roads to each other on their various cases of interchange care. The matter will be further considered in New York next Wednesday. The president has recognized the following consular officers: J. Mignolet, consul of Belgium at Denver for Colorado, A A Medico: M9N pur Sujurios M Ballen, consul of Ecuador, at San Francisco: Peter Anker. vice consul of Den901A 'V M Neveral 18 mark. consul of Denmark, for Colorado: Maximo Gavito, commercial agent of Mexico, at Brisbee, Ariz. Senator Brice yesterday labored with the president for two hours ME[ Supsixe *** that miq contribe 01 beeq easy sens] puoq the Japun made, is better than the proposed legisST 11 em uo that while the president listened with apparent interest to the senator's representations, he did not himself express 700(gns *** no ue 10 esnoq prossing the uI tives yesterday bills were introduced fix. ing a maximum schedule of telephone rental. ranging from $40 to $25 a year making eight hours a legal day's work; -xe eq on ecuted within the walls of the penitenso am lands, and seizing such land after three years unless the owner becomes a citizen em JO 01 not THEM "mous 'dn MOJO I KaaMΒ» make a minister of me.' "Why, Johnny, IIIAM artsap anot St gons seque pets we T !m,sex, 15 inoqe Jeques mos 01 yeads STATE adomy 01 02 01 THEM


Article from Evening Journal, January 10, 1895

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Western Trust Company In Difficulty. Sioux CITY, Ia., Jan. 10. - The Fidelity Loan and Trust company of Sloux City defaulted payment of $30,000 interest on debenture bonds due the first of the year. Although the firm has not yet failed, President Sampson of this city has been asked to accept the receivership should one be appointed. The debenture bonds were issued to secure loans on farm mortgages. The company could not collect Interest from farmers, $80,000 being now due them, and was thus forced to default the interest on the bonds, bringing on the financial difficulty. The firm did no banking business, and none of the local banking houses or industries will be involved. The failure of the Lincoln Street Railway company of Lincoln, Neb., tied up $150,000 of the company's funds. The liabilities of the company are about $4,000,000, with assets nearly as large. The largest liabilities consist of $3,250,000 debenture bonds, about $2,250,000 of which are held in New England states and other sections of the east. One million dollars were also floated in Scotland. The other $750,000 of liabilities consist of street railway stocks, etc. The company tried to negotiate a loan in New York, but failed.


Article from The Madison Daily Leader, January 11, 1895

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A BAD FAILURE. Sioux City Trust Company Goes Up With Liabilities of $4,000,000. SIOUX CITY, Ia., Jan. 11.-The Fideb ity Loan and Trust company of Sioux City defaulted payment of $30,000 in the interest on debenture bonds due the first of the year. Although the company has not yet failed President Sampson has been asked to accept the receivership should one be appointed. These debenture bonds were issued to secure loans made on farm mΓΈrtgages. The company could not collect interest from farmers $80,000 being now due them, and was thus forced to default the interest on the bonds, bringing on the financial difficulties. The firm did no banking business and none of the local banking houses or industries will be involved. The failure of the Lincoln Street railway of Lincoln, Neb., tied up $150,000 of the companies funds. Liabilities $4,000,000. The liabilities of the company are about $4,000,000, with assets nearly as large. The largest liabilities consist of $3,250,000 debenture bonds, about $2,250,000 of which are held in the New England states. One million dollars was also floated in Scotland. The other $750,000 of liabilities consists of street railway stock, etc. The company tried to negotiate a loan in New York, but failed. A meeting of parties representing the creditors was held in New York to take action regarding the company's financial affairs, but just what was done cannot be learned here. Joseph Sampson of this city. president of the company, is the principal local stockholder. - Price's Cream Laking Powde


Article from Daily Kennebec Journal, January 11, 1895

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NEWS NUGGETS. Brought by the Wires from the North, East. South and West. The civil marriage of Premier Crispi's daughter and Prince Lingualossa, took place at Naples, Thursday. St. Johns was quiet, Thursday. The government is planning work to relieve the distress of the working people. A fierce northeast gale raged on the New England coast, Thursday, and a terrific sea is reported. No disasters yet reported. At the New York horse sale, Thursday, Miss Lavalard. by Lavard-Grace W., was bought by C. H. Wilson, Waterville, Me., for $450. Wesley Bawling, a thrifty farmer living near Lewisburg, Pa., shot and killed wife, child and himself, Thursday. No reason is assigned. Three American soldiers were drowned, Thursday, while crossing from Fort Niagara to Niagara on the Lake, Ont., by the boat upsetting. The Boston common council, Thursday night, indefinitely postponed the order providing for an investigation of all the departments of Boston. In the French Chamber of Deputies, Thursday, Deputy Herbert moved general amnesty of political prisoners. The motion was lost, 345 to 167. In the billiard contest, at Boston, Thursday night, McLaughlin made 318 points and Eames, 200. Grand total, McLaughlin, 960; Eames, 1200. Mrs. Wm. H. Price of Cleveland, Ohio, widow of the manufacturer murdered by burglars, Dec. 12, positively identifies Thomas Grant. now under arrest, as one of her husband's murderers. A dispatch from Shanghai says severe fighting has taken place near Jehol, Mongolia, 120 miles northeast of Pekin, and hundreds of wounded Chinamen are reported daily arriving at Tien Tsin. Governor Altgeld delivered his message at Springfield, III., Thursday, to a large audience. Nearly half of the message (which is 25,000 words in length) is devoted to the labor troubles of the year. Wyeth's collar factory at St. Joseph, Mo., was totally destroyed by fire, Thurs day. It was the largest of the kind in the West and employed nearly 300 men. The loss will reach $150,000; partially insured. American schooner Elbridge, Souther, which sailed from Philadelphia, Dec 15, for Cai-Barien, went ashore on San Felipe key, West Indies, Dec. 31, and was abandoned, Jan. 4. The crew was saved. A dispatch from Yokohama to the London Globe says some Japanese newspapers print a report that the King of Corea has been assassinated, while other papers assert that he has been prostrated with epilepsy. On application of the Eastern creditors, Judge Wakefield has appointed Joseph Sampson of Sioux City, Iowa, and G. H. Crandee, Lowell, Mass., receivers of the Fidelity Loan and Trust Co. of Sioux City. Receiver Sampson is president of the company. Miners at Spring Hill, N. S., coal mines struck, Thursday. Trouble has been brewing between the miners and management for some time over whether the work should be in one long shift or two short ones. Neither side would give way and the strike resulted. Cyrus C. Armstrong, secretary of the Roger Williams Savings Fund and Loan Association of Providence, for some 12 years, was found dead in his bed. Thursday, having taken laudanum and opium. The deceased had been sick for some


Article from The Seattle Post-Intelligencer, January 11, 1895

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Business Failures. Sloux City, Ia., Jan. 10.-The Fidelity Loan & Trust Company passed into the hands of a receiver today. P. A. Sawyer, as a creditor of the company. filed an application for the appointment of a receiver in the district court. The petition stated that the company owed $3,200,000 of 6 per cent. debenture bonds, on which the January Interest was defaulted. It stated further that the floating debts of the company were $1,000,000, no part of which had been paid. The only other statement in the petition was to the effect that the company was insolvent. Judge Wakefield appointed President Joseph Sampson, of Sloux City, and Gkleon H. Candee, of New York, receivers. It is expected that the business of the company will be continued under the receivership.


Article from The Morning Call, January 11, 1895

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NOW IN A RECEIVER'S HANDS. Nebraska Farmers Could Not Realize on Their Crops. NO INTEREST WAS PAID ON LOANS. The Company Expects to Continue Business as Soon as Affairs Are Straightened. Sioux CITY, Iowa. Jan. 10.-The Fidelity Loan and Trust Company passed into the hands of a receiver to-day. P. A. Sawyer, as a creditor of the company, filed an application for the appointment of a receiver in the district court. The petition stated that the plaintiff held a judgment against the company for $5000 ; that the company owed $3,200,000 on 6 per cent debenture bonds on which January interest was defaulted. It stated further that the floating debts of the company were $1,000,000, no part of which had been paid. The only other statement in the petition was to the effect that the company was insolvent. Judge Wakefield appointed President Joseph Sampson of Stoux City and Gideon H. Candee of New York receivers. The bond of receivers was fixed at $25,000. This was furnished at once and they entered into possession of the assets of the company. It is expected that the business of the company will be continued under the receivership. Joseph Sampson, president of the Fidelity Loan and Trust Company, was interviewed regarding the financial troubles of the company. He said that it could hardly be looked at as a failure in any way that failures were usually regarded. "The embarrassment," he 'said, "is only a temporary one, brought about by the Inability of Nebraska farmers on account of crop failures to pay interest on their loans. This amounted for January to $80,000, and from this amount we were to pay interest on our coupons for over $3,000,000. "They falled to respond, and 80 did we, but there can be no genuine failure, for every loan made is secured by gilt-edged mortgages and our books are open to the world. "There is no occasion for a scare, as business will continue to move right along without any change. I was made receiver at the request of stockholders who have been urging me to accept the appointment."


Article from River Falls Journal, January 17, 1895

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of Illinois convened at Springfield and effected a permanent organization. THE death of Gen. Alfred W. Ellet. a prominent figure in the war of the rebellion. occurred at El Dorado, Kan. IN Ohio Gov. McKinley sent a car load of provisions to the starving miners of the Hocking valley. THE legislature of Illinois in joint session canvassed the vote for state officers and declared the republican candidates elected. By a nitro-glycerine explosion at St. Mary's, O., three men were instantly killed. AT their home in Belleville, Ind., Rev. W. E. Hinshaw was seriously and his wife fatally wounded by thieves. FIRE destroyed the Wveth horse collar factory at St. Joseph, Mo., the loss being $150,000. A RECEIVER was named for the Fidelity Loan and Trust company at Sioux City, Ia., the liabilities being $4,200,000. AT their home in Minneapolis Orson W. Rollins and his wife were found dead under suspicious circumstances. THE legislature of Indiana met in fifty-ninth session, Senator Newby being made president pro tem. of the senate and J. C. Adams speaker of the house. GEORGE MAPPEand "Boddy" Wooden, both colored and murderers of Marion Ross, were hanged in the jail at Chattanooga, Tenn. FLAMES wiped out twenty buildings in the mining town of Foster. la. FIRE destroyed the Norwegian Lutheran seminary, located in the suburbs of Minneapolis. THE execution of William Taylor (colored), who murdered Squire David Dotty in Madison county on December 2 last, took place at Richmond, Ky. IN Chicago resolutions calling for the revision of football rules to prevent brutality were adopted at a meeting of presidents of northwestern universities. AT a joint session of both houses of the Indiana legislature Gov. Matthews read his biennial message. AT New Ulm, Minn., Samuel D. Peterson was given a verdict for $10,000 against the Western Union Telegraph company, which transmitted an anonymous libelous telegram. IN the trunk of George Streephy, arrested at Youngstown, O., for a post office robbery, were found over a thousand love letters from young women in every state. AT Indianola, Miss., an unsuccessful attempt was made to hold up a train. Two passengers were wounded by a fusillade from the would-be robbers. A SLEIGH containing a party returning from a wedding near Lebanon, Ind., was struck by an engine, and Jacob Moss and Miss Mary Overleese, the groom and bride, were killed. IN Ohio, a canvass of the Hocking valley disclosed 1,200 families in urgent need of aid. JOHN MOHNEY, aged 67, and Eliza Mohney, aged 66, after a married life of forty-five years, and having ten children, were divorced at Harrisonville, Mo. FIRE destroyed the Gunning block and a number of other buildings at Barnesville, O., the loss being $125,000. AT Reno, Nev., Mrs. Alice M. Hartman, who killed Senator M. D. Foley last July, was found guilty and sentenced to eleven years in prison. IN Deception bay, off the coast of Washington, the schooner Justine foundered and her crew of fifteen were drowned. J. H. BALDRIGE'S home near Jefferson, Ia., was destroyed by fire and his nine children were badly frost-bitten. Masked men entered the express car of a Burlington train near Ottumwa, Ia., and after tying the hands of the occupants robbed the safe of about $8,000. OFFICERS captured Bill Cook, the leader of the outlaw band which bears his name, at Fort Stanton, N. M. WHILE at breakfast Col. Ulysses G. Scheller-Deboue, a former member of Gen. Grant's staff, died at Galena, IIL FOREIGN INTELLIGENCE


Article from Eagle River Review, January 17, 1895

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LATEST NEWS ITEMS. -A gang of ticket forgers have been down at St. Joseph, Mo. -The grippe is increasing in New York. here were ten deaths in one day. -The Standard Oil company has aborbed the Sun, Craig and Crystal comunies of Toledo, O. -One thousand unemployed men are arching through Florida and making with planters' property. -Capitalists at Escanaba, Mich., will three miles of railroad to connect city with the Soo road. -Boston women have voted to subribe $200,000 for the purpose of buildand furnishing a clubhouse. -Bradstreet's reports the stocks of heat in the United States to be 52,000,bushels less than a year ago. -Eugene V. Debs. the imprisoned A. U. leader. is greatly pleased with Gov. Itgeld's message to the Legislature. -The break in east-bound grain rates been followed by a corresponding one provisions and miscellaneous shipents. -The government of Newfoundland is adeavoring to stop the sending abroad reports of the colony's financial diffiulties. -Trade has been little affected by the eginning of a new year or the failure the currency bill, according to Dun's eview. -In his annual report President Alcharges the regents with plundering Oklahoma Agricultural and Mercancollege. -0. Talmage of Valparaiso, Ind., sued Baltimore & Ohio railroad for $1975 killing his mother. A jury awarded $3500. -Icemen in the employ of Armour & at Cedar Lake, Ind., struck and, beming riotous, eleven of their leaders arrested. -Bank clearings of the principal cities the week show an increase of 4.2 per in comparison with the corresponding riod last year. -Premier Taillon of Quebec is ill with flammation of the bowels. -Carl August Munckel attacked the nti-revolution bill in the German Reichs-The Pittsburg miners' convention adurned without ordering a general rike. -The Wyeth horse collar factory was urned at St. Joseph, Mo., the loss be$150,000. -Sixteen thousand election clerks were und inefficient at New York and will ceive no pay. -West Virginia miners and operators twenty earloads of coal to the Neaska sufferers. -Gov. McKinley sent a carload of rovisions to the starving miners of the locking valley. -Mrs. Gougar's suit for woman's ghts was argued before Judge Everett Lafayette, Ind. -French Chamber of Deputies refused vote for the release of M. Richard, Socialist member. -It was said in New York that E. C. enedict and his friends had lost control the Chicago gas companies. -Rue Edith Bishop, 7 years old, was dnaped from the Children's home in orwalk, O., by her mother. -Labor Commissioner Wright has a letter to Congressman McGann plaining the arbitration bill. -Foxes, rabbits and other small game rounded up in an old-fashioned cirhunt near Bloomington, Ill. -Three trained bears escaped near UpSandusky, O., and are having a high time feasting on pigs, poultry, etc. -Joseph Sampson and G. H. Candee appointed receivers of the Fidelity and Trust company of Sioux City. -The St. Louis, Perry & Chicago Railcompany was incorporated at oringfield, III., with a capital of $500,-W. J. MacLean, proprietor of the ToWorld, was arrested for issuing extra edition giving an account of the inday fire. -In the current issue of the Railway the official organ of the A. R. U., resident Debs makes a fierce attack on Woods. -Four new suits have been brought ainst Canton (III.) saloonkeepers by ildren of men who have been incapaciin the support of their families. -The White Swan steara laundry of etoskey, Mich., burned, causing a loss $2000, with about $600 insurance. fire originated in the engine room. B. Tyrnell, a geological surveyor, arrived. at Winniner after siv-


Article from Audubon Republican, January 17, 1895

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hours was able to talk, but was badly confused. All efforts to revive Mrs. Naso were unavailing. Mr. Naso stated that he had arisen during the night and opened the stove door to cool off the room, he being ignorant of the peculiarities of hard coal, with the above sad result. The Fidelity Loan and Trust Company of Sioux City recently passed into the hands of a receiver on the application of P. A. Sawyer, one of the creditors. The bill said plaintiff held a judgment for $500; that the company owed $3,200,000 on 6 per cent debenture bonds and the floating debts were $1,000,000 more. President Joseph Sampson, of the company, and Gideon H. Candes, of New York, were appointed receivers. An eastbound Burlington passenger was held up between Chillicothe and Ottumwa about 6:30 a few evenings since. Just as the train was leaving Chillicothe, two men with heavy black masks on, climbed in the end door of the express car. One held up the three occupants of the car with a revolver while the other tied their hands and then robbed the safe with the kevs taken from the expressman. It is not certain how much they secured, but it may be any place between $1,500 and $8,000. The men waited until the train slowed up for the Milwaukee crossing, then jumped and crossed the river on the ice. J. W. Luke, George W. Perkins and Peter A. Dey, composing the state board of railway commissioners, have filed two reports on the application of the railroads for an increase in freight rates. The majority report is signed by Commissioners Perkins and Luke, who give as their reasons for denying the increase that the present rates were not shown to be unremunerative, and that railway losses have been heavier in interstate freight than Iowa business. Commissioner Dey, in the minority report, holds that rates should be raised almost as much as the railroads asked, and says he has always thought Iowa rates were too low. The saloons of Manson have been pulled again. Information papers were signed by Rev. O. K. Maynard and W. F. Wilson, of Rockwell City, and the sheriff has made a grab on the saloons of Manson, Pomeroy and Lake City. These cases will be made test cases at the February term of court. The committee appointed by the county temperence organization to canvas the names on the petition claim to have found enough fraudulent names and forgeries to reduce the number below the 65 per cent. These saloons are all under injunction and bonds not to sell any more liquor contrary to law. To do so is contempt of court and a violation of their bonds J. J. Aman, an aged citizen of Waucoma, was instantly killed by the fast met train on the C., M. & St. P. railway. The old gentleman, in company with several boys, was going to his home in the southern part of town, using the railroad track as a roadway. They saw the train coming and the boys warned Mr. Aman that he could not cross a bridge they were approaching before the train would be upon them, but he seemed to think differently. The train caught him just two steps from the end of the bridge and safety, picked him up, carried him across the bridge and dropped him down a twenty-five foot embankment. Deceased was between 75 and 80 years of age and leaves a wife and five grown children. The meat train runs through Waucoma without stopping. When the trainmen saw Mr. Aman's danger they made every effort to stop the heavy train, but without success. A Sioux City dispatch says: Rev. J. W. Mahood, pastor of the Whitfield M. E. church, has commenced a crusade against the houses of ill fame after the manner of Dr. Parkhurst. He went to a well known brothel on one of the principal streets of the city at night, and found five women and four men there. He then appeared in police court as prosecuting witness against these five women, charged with keeping a house of prostitution. He gave testimony as to what he saw there, which, while not as sensational as that given by Dr. Parkhurst in New York on a similar occasion, was sufficient to prove the character of the house. While he was present one woman proposed to do the feat of standing on her head, but was prevented from doing so by another woman. There were a large number of friends of the preacher present at police court when the case was called, but the attorneys for the woman insisted on the room being cleared. The police have refused to interfere in these houses and a general crusade is likely against them. Address The News, Des Moines, Iowa, enclosing this notice and fifty cents, and you will receive the Twice-a-Week News one year.


Article from The Farmers' Union, January 17, 1895

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FINANCIAL AND INDUSTRIA -The 119-inch mill at the Homeste: works is working and the strike at th place is broken. The mass meeting pr posed was not held. A crowd of 4 gathered. but there were no speech All the furnaces at the Edgar Thoms works at Braddock are also workin and the steel mill resumed in all depat ments. The failure of W. II. Taylor, the ou going South Dakota State Treasurer. appear to turn over his office to his su cessor. caused :: sensation. Mr. Tayl cannot be located, but his bank at Re field closed its doors. and he is short large amount of State funds. just ho much cannot be learned. but the bool show that about $250,000 should be . hand. Public Examiner Meirs has n been able to secure a statement of whe the funds are deposited. At a convention of miners in Massillo district it was resolved to remain or until the operators agreed to pay $1.75 cay. The American Biscuit Manufacturir Company has ent the prices of cracke from 15 to 20 per cent. Creditors of the Fidelity Loan an Trust Company of Sioax City had a mee ing to consider the question of a receive ship. The company is one of the leadin financial concerns in the Northwest. TI application grows out of default on $30 000 interest due on Jan. 1 on the con pany's debenture bonds. The liabilitie


Article from The Redwood Gazette, January 17, 1895

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A BAD FAILURE. Sioux City Trust Company Goes Up With Liabilities of $4,000,000. Stoux CITY, Ia., Jan. 12.-The Fidelity Loan and Trust company of Sioux City defaulted payment of $30,000 in the interest on debenture bonds due the first of the year. Although the company has not yet failed President Sampson has been asked to accept the receivership should one be appointed. These debenture bonds were issued to secure loans made on farm mortgages. The company could not collect interest from farmers $80,000 being now due them, and was thus forced to default the interest on the bonds, bringing on the financial difficulties. The firm did no banking business and none of the local banking houses or industries will be involved. The failure of the Lincoln Street railway of Lincoln, Neb., tied up $150,000 of the companies funds. Liabilities $4,000,000. The liabilities of the company are about $4,000,000, with assets nearly as large. The largest liabilities consist of $3,250,000 debenture bonds, about $2,250,000 of which are held in the New England states. One million dollars was also floated in Scotland. The other $750,000 of liabilities consists of street railway stock, etc. The company tried to negotiate a loan in New York, but failed. A meeting of parties representing the creditors was held in New York to take action regarding the company's financial affairs, but just what was done cannot be learned here. Joseph Sampson of this city, president of the company, is the principal local stockholder.


Article from New-York Tribune, March 1, 1895

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REORGANIZING A WESTERN CONCERN. Stoux City, Iowa, Feb. 28.-The stockholders and bondholders of the Fidelity Loan and Trust Company have agreed upon a plan of reorganization. Receiver Sampson has been in New-York a month arranging the details of the reorganization. An officer of the company said yesterday that the plan involved the exchange of outstanding debentures for new ones, to be issued by a new company, which would bear 4 per cent interest, There are outstanding about $3,000,000 of these debentures, of which about $1,000,000 is held in England and Scotland, and the remainder in NewYork and New-England. Those held abroad are mostly 4 per cent, and those in this country run as high as 6 per cent. All will be on the 4 per cent basis. A new company will be formed and an assessment will be made on the stock to raise funds for the organization.


Article from Omaha Daily Bee, April 24, 1895

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# Heavy Damage Suit at Sioux City. SIOUX CITY, April 23.-(Special Telegram.)-The Northern Investment company has filed a suit here against the Boston Investment company for $1,000,000, for the alleged wrongful and fraudulent transfer of property from the Boston to the Northern. Five years ago the Boston sold the Northern considerable property in the city, accepting in payment money and securities to the value of $900,000. It is claimed that much of this property was worthless and that the Northern has consequently suffered damage to the amount of $1,000,000, for which judgment is accordingly asked. The Corn Exchange National bank of Sioux City has filed a suit for $35,000 against the Sioux City Street Railway company and Frank Peavey, one of its officers. It is claimed that some time ago Peavey and other officers of the road issued 3,000 shares of bogus stock in the company, and gave it to the bank as security for a loan of $35,000. Finding that the stock is not bona fide, the bank now asks personal judgment against the road and Peavey as an officer of it for the amount loaned. Plans have been completed by which the Fidelity Loan and Trust company, which went into the hands of a receiver some months ago, will be reorganized within the next thirty days.