Full suspension
Other: The bank directors rejected a $100,000 loan from the Peoria Clearinghouse because it was 'tied up' or offered under conditions they could not accept, leading them to close the bank and request a receiver instead of attempting to weather the run.
Clearinghouse involved: Yes (loan, examination, or other measures)
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BANK FAILS AS RESULT OF DOUGHERTY INVESTIGATION A associated Press Peoria, III., Oct. 7-The Peoria National bank closed its doors today as a result of the Dougherty investigation. A dime savings bank in which Dougherty is a large stock-holder experienced a run today but paid all depositors.
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RUN ON PEORIA BANK. Depositors Find Doors of the National Closed-Savings Bank Safe. Peoria, Ill., Oct. 7.-Early today a large number of depositors appeared at the Peoria National Bank, but the doors were closed, and the Dime Savings Bank, in which Dougherty is a large stockholder ,experienced a small run today, but out paid all depositors. The directors announce that they have plenty of funds to meet all demands.
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DOUGHERTY'S BANK CLOSES ITS DOORS (Scripps News Association.) PEORIA, III., Oct. 7.-The Peoria National bank, of which Dougherty was president, failed to open this morning. The run on the Dime Savings bank, in which Dougherty was interested, started again. It has taken advantage of the 30-day rule.
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BANK CLOSES DOORS. Peoria, III., Failure Caused by Alleged Wholesale Peculations. Peoria, III., Oct. 7.-The Peoria National bank, of which Newton C. Dougherty was president, did not open its doors this morning. The directors last night decided to ask for a receiver. Loss of confidence, caused by the alleged wholesale peculations of Dougherty, was the reason for the action.
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PEORIA BANK CLOSES DOORS TO STOP RUN Directors Realized That Depositors Would all Withdraw OFFICIAL'S INDICTMENT ON MANY COUNTS FOR FORGERY LEAVES INSTITUTION IN A SHAKY CODITION-COMP. TROLLER PLACED IN CHARGE. Peoria, Ill., Oct. 6.-At a meeting of the directors of the Peoria National bank late tonight, it was unanimously voted to close the institution and ask the comptroller to take charge. Since the indictment of N. C. Dougherty, until yesterday the president of the bank, on many counts for fergery, hundreds of depositors have withdrawn their acounts and this caused the action of tonight. It was admitted at the directors meeting that a disastrous run was inevitable tomorrow, and as a proffered loan of $100,000 by the Pecria Clear-
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SUFFER THROUGH DOUGHERTY (By Associated Press.) Peoria, Oct, 7.-The Peoria National bank closed its doors today as the result of the Dougherty investigation last night, The Dime Savings bank, In which Dougnerty is a harge stockholder. ex.. perienced a run today, but paid all depositors,
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PEORIA BANK CLOSED. As Result of Dougherty Investigation. Run on Dime Savings Bank. Peoria, Oct. 7.-Peorta National bank closed its doors today as a result of the Dougherty investigation, last night. The Dime Savings bank in which Dougherty is a large stock holder, experienced a run today, but paid all depositors.
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ONE HUNDRED INDICTMENTS AGAINST PEORIA BANKER PEORIA, III., Oct. 7.-The Peoria National bank, of which Newton Dougherty, the indicted school superintendent, was president, did not open for business today, pursuant to a decision of the directors reached at midnight. Dougherty has turned over his private fortune to the bank. It is expected that Dougherty will be lodged in jail this afternoon when he has been arraigned on 87 additional indictments. He has turned over securities worth $200,000 to cover the alleged shortages. He may not be able to raise bail. He has already given bail on thirteen charges. He does not deny his guilt. His friends advance the kleptomania theory. National Bank Examiner Bosworth was appointed receiver of the institution. Runs were started this afternoon on the Dime Savings bank and the City National bank.
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DECIDED NOT TO OPEN The Peoria National Bank, of Which N. C. Dougherty Was President, to Go Into Liquidation. Peoria, Ill., Oct. 7.-As a direct result of the indictment of N. C. Dougherty for forgery, the directors of the Peoria national bank, of which he was president, announced shortly after midnight that they decided to discontinue business and would call in the comptroller of the currency to wind up the affairs of the institution. The meeting of directors lasted all evening behind closed doors. It was admitted that a disastrous run would be inevitable, and the only recourse was to liquidate at once. The loan of $100,000 by the Peoria clearinghouse was tied up in such wise that it could not be accepted. It was learned that quiet withdrawals from the bank had been going on all day, most of the calls coming from banks in neighboring towns. The bank was capitalized at $200,000.
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BANK FAILS AS RESULT OF DOUGHERTY INVESTIGATION Associated Press Peoria, III., Oct. 7-The Peoria National bank closed Its doors today as a result of the Dougherty investigation. A dime savings bank in which Dougherty is a large stock-holder experienced a run today but paid all depositors.
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BANK DECIDES TO CLOSE. Dougherty Scandal Causes Peoria National to Go Into Liquidation. As a direct result of the indictment of N. C. Dougherty at Peoria, III., for forgery Thursday, the directors of the Peoria National Bank, of which he was president, announced shortly after midnight Friday morning that they had decided to discontinue business and would call in the comptroller of the currency to wind up the affairs of the institution. The meeting of directors lasted all evening behind closed doors. It was admitted that a disastrous run would be inevitable Friday and the only course was to liquidate at once. The loan of $100,000 by the Peoria clearing house was tied up in such wise that it could not be accepted. It was learned that quiet withdrawals from the bank had been going on all day, most of the calls coming from banks in the neighboring towns.
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DECIDED NOT TO OPEN The Peoria National Bank, of Which N. C. Dougherty Was President, to Go Into Liquidation. Peoria, III., Oct. 7.-As a direct result of the indictment of N. C. Dougherty for forgery, the directors of the Peoria national bank, of which he was president, announced shortly after midnight that they decided to discontinue business and would call in the comptroller of the currency to wind up the affairs of the institution. The meeting of directors lasted all evening behind closed doors. It was admitted that a disastrous run would be inevitable, and the only recourse was to liquidate at once. The loan of $100,000 by the Peoria clearinghouse was tied up in such wise that it could not be accepted. It was learned that quiet withdrawals from the bank had been going on all day, most of the calls coming from banks in neighboring towns. The bank was capitalized at $200,000.
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DECIDED NOT TO OPEN The Peoria National Bank, of Which N. C. Dougherty Was President, to Go Into Liquidation. Peoria, Ill., Oct. 7.-As a direct result of the indictment of N. C. Dougherty for forgery, the directors of the Peoria national bank, of which he was president, announced shortly after midnight that they decided to discontinue business and would call in the comptroller of the currency to wind up the affairs of the institution. The meeting of directors lasted all evening behind closed doors. It was admitted that a disastrous run would be inevitable, and the only recourse was to liquidate at once. The loan of $100,000 by the Peoria clearinghouse was tied up in such wise that it could not be accepted. It was learned that quiet withdrawals from the bank had been going on all day, most of the calls coming from banks in neighboring towns. The bank was capitalized at $200,000.
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DECIDED NOT TO OPEN The Peoria National Bank, of Which N. C. Dougherty Was President, to Go Into Liquidation. Peoria, III., Oct. 7.-As a direct result of the indictment of N. C. Dougherty for forgery, the directors of the Peoria national bank, of which he was president, announced shortly after midnight that they decided to discontinue business and would call in the comptroller of the currency to wind up the affairs of the institution. The meeting of directors lasted all evening behind closed doors. It was admitted that a disastrous run would be inevitable, and the only recourse was to liquidate at once. The loan of $100,000 by the Peoria clearinghouse was tied up in such wise that it could not be accepted. It was learned that quiet withdrawals from the bank had been going on all day, most of the calls coming from banks in neighboring towns. The bank was capitalized at $200,000.
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DECIDED NOT TO OPEN The Peoria National Bank, of Which N. C. Dougherty Was President, to Go Into Liquidation. Peoria, Ill., Oct. 7.-As a direct result of the indictment of N. C. Dougherty for forgery, the directors of the Peoria national bank, of which he was president, announced shortly after midnight that they decided to discontinue business and would call in the comptroller of the currency to wind up the affairs of the institution. The meeting of directors lasted all evening behind closed doors. It was admitted that a disastrous run would be inevitable, and the only recourse was to liquidate at once. The loan of $100,000 by the Peoria clearinghouse was tied up in such wise that it could not be accepted. It was learned that quiet withdrawals from the bank had been going on all day, most of the calls coming from banks in neighboring towns. The bank was capitalized at $200,000.
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Last Saturday the Peoria National Bank, of which Dougherty was president, closed its doors and was placed in the hands of a receiver, and the Dime Savings Bank, with which he is also connected, posted the 60 day sign.
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The jury in the case of R. D. Fletch- er, a white man, charged with assault- ing Mary Gladder, a German girl, in Russellville, Ky., returned a verdict of guilty and fixed the punishment at death. In a collision between a Louis- ville and Nashville light engine and a Southern railway freight near Boyles, Ala., H. E. Abercombe of Villa Rica, Ga., extra fireman on the Southern, was killed. The launch Maj. Wilcox, owned by the A. Booth Fish company, with a half ten of black bass caught with nets in Lake Erie, was held and seized by Ohio game wardens and may be confiscated. A diver located near Michigan City, Ind., the wreck of a three- masted schooner believed to be the Thomas Hum, which sailed from Chi- cago fourteen years ago and was never heard of afterward. Daniel McIntyre of Gladbrook, Iowa, gave $10,000 to the $150,000 endow- ment fund being raised by Western college at Toledo, Iowa. Leander Clark of Toledo and Andrew Carnegie had each given $50,000. Missouri demands that McCall re- pay the campaign contribution of $148,000 and that new officers of the New York Life be elected, giving the alternative of exclusion of the company from the state. A mistrial has resulted in the case charging "criminal negligence" against W. B. Caldwell, who was con- ductor on one of the trains wrecked on the Southern railroad near New Market, Tenn., Sept. 24, 1904. Failure of the Peoria National Bank, of which N. C. Dougherty was president, caused a run on two other banks, the 60-day notice being invoked in one instance. Financiers fear a spread of the panic among deposi- tors. Germany and other European coun- tries may bar big New York life in- surance companies from doing busi- ness because of the revelation as to graft and corruption. This action would mean a heavy loss to the con- cerns. District Attorney Jerome of New York asked for a special grand jury to investigate the big life insurance companies. The son of the president of the Mutual Life was paid $1,705,- 681 in commissions besides a salary of $30,000. Newton C. Dougherty, superintend- ent of Peoria schools and president of Peoria National bank, was indicted for forgery and larceny of public funds. His peculations extended over a period of 27 years and aggre- gate $500,000. Chief of Police John J. Donohue of Omaha has sent a cashier's check for $200 to Butte, Mont., to cover the reward offered by the chief personal- ly for the capture of Pat Crowe, who will be brought back handcuffed by two detectives. At Hickman, Ky., after he had re- turned from church, Emmett W. Roach, a prominent citizen and teach- er, was shot from ambush. Roach lived thirty minutes and gave the name of his assassin, which has not yet been made public. At Minneapolis, Ira Riddle, an aged sailor, has been stabbed almost to death in his bed in a lodging house. A deposit certificate for $150 was stolen. The bank refuses to give him the money without a bond, fearing the old man may have indorsed the cer- tificate to some one. Alfred, the younger son of the late David Shepard, founder of the Nichols & Shepard Thrashing Machine com- pany at Battle Creek, was cut off in his father's will without a cent. The estate of $1,000,000 is left to the elder son Freedom. Alfred contested, but the probate judge decided against him. Charles King, whose sentence of death was executed Sept. 30, at Fort Saskatchewan, Canada for the mur- der of a young Englishman, Edward Hayward, is believed to have been Robert Martelli, sentenced to death in 1900, but through the intervention of the Italian government given a new trial and acquitted. At Sheboygan, the damage suit of Nic Faber, whose arms were broken, jaw fractured in three places, one eye gouged out, teeth knocked out, and shoulder dislocated, was non- suited, because the supreme court, in ordering a retrial by the circuit judge, decided Faber had no case. He had been awarded $8,000 against the Reiss Coal company. Miss Hattie Dew Hirst, one of the pretty girls of Huron, Ohio, whose room was entered by robbers a few nights ago, received a letter, mailed
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RECEIVER FOR DOUGHERTY BANK Carthage. III., Oct. 17.-State Senator 0. F. Barry, president of the Dime Savings bank, today was appointed receiver for the National bank of Peoria.
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Receiver for Peoria Bank. Carthage, Ill., Oct. 18.-State Senator O. F. Berry, president of the Dime Savings bank, yesterday was appointed receiver for the National Bank of Peoria.
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Receiver Appointed. Carthage. III., Oct. 19.-State Senator O. F. Berry, president of the Dime Savings bank, has been appointed receiver for the National bank of Peoria
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Receiver for Peoria Bank. Carthage, Ill., Oct. 18.-State Sen-ator O. F. Berry, president of the Dime Savings bank, yesterday was appointed receiver for the National Bank of Peoria.
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Receiver for Wrecked Bank. Peoria, Ill., Oct. 19.-State Senator O. F. Berry, of Carthage, has been named receiver for the Peoria National bank, which was wrecked and forced into the comptroller's hands by the troubles of School Superintendent N. C. Dougherty.
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Bank May Make Good. It is probable that the Peoria National bank, of which Dougherty was president, will have to make up the shortage, or at least a part of it. The bank went into the hands of a receiver, and if the stockholders are called upon to make good Dougherty's peculations many of them will be financially ruined, It has developed that not only the members of the present school board. but business men of the highest standing who served on it in former years, will be severely censured for carelessness by the report of the auditing company.
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NONE ACCUSED OF CRIMINAL CARELESSNESS-STEALINGS IN SEVEN YEARS OVER $500,000-TOTAL MAY REACH SUM OF $1,500,000. scrip on the treasurer and by fraudulently deceiving the president made it appear to him that the scrip was legitimate, and the president, having unlimited confidence in him, would accept the secretary's statement as being truthful and would sign the scrip presented." School Board Retains Counsel. The only action taken by the board outside of accepting the report, was the authorizing of the appointment of Judge David McCulloch as attorney for the board to fight any injunction suit that may be begun by O. F. Berry, as receiver of the Peoria National bank, against the board to prevent them from holding the stockholders and depositors of the defunct Peoria National bank liable for the amounts of Dougherty's defalcations. The action against the Peoria National bank has been taken on the ground that as several-years back the bank has paid in excess of $500,000 on scrip forged by Dougherty without requiring the signature of the payee, absolutely against the law and making the bank liable. The report shows that the treasurer of the board was not authorized to deposit the funds in any one bank, hence the bank should have checks signed by the treasurer in transferring from the Peoria National. This was not done. Board Severely Censured. The report ends by stating that "the criminal acts of Newton C. Dougherty in issuing this fraudulent scrip would not have been possible had proper officers and committees performed their duties "under the rules of the board." But adds that "no member of the board is criminally guilty, In no instance has any member embezzled funds and Newton C. Dougherty alone acted in a criminal manner.