First National Bank (Livingston, MT)

Episode Information

Episode Type
Suspension β†’ Closure
Start Date
August 25, 1884
Location
Livingston, Montana (45.662, -110.561)
Bank Type
national
Charter Number
3006

Metadata

Receivership Details

Depositor recovery rate
95.0%
Date receivership started
1884-08-25
Date receivership terminated
1900-12-31
OCC cause of failure
Losses
Share of assets assessed as good
47.2%
Share of assets assessed as doubtful
21.5%
Share of assets assessed as worthless
31.3%

Notes

Receivership formally advertised by Comptroller on 1884-08-25.

Events (5)

1. July 16, 1883 Chartered
Source
historical_nic
2. August 25, 1884 Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency instructed assistant cashier to cease regular business and a receiver was appointed due to reported gross mismanagement.
Newspaper Excerpt
Notice is hereby given ... that the same must be presented to Charles A. Baker, Receiver ... within three months from this date
Source
newspapers
3. August 25, 1884 Receivership
Newspaper Excerpt
Notice is hereby given to all persons who may have claims against The First National Bank of Livingston ... presented to Charles A. Baker, Receiver, ... J.S. LANGWORTHY, Deputy and Acting Comptroller of the Currency.
Source
newspapers
4. August 25, 1884 Receivership
Source
historical_nic
5. October 3, 1884 Other
Newspaper Excerpt
The late cashier of the First National bank of Livingston, Mr. D. E. Fogarty, whose arrest took place at Livingston ... on a charge of technical embezzlement preferred by the receiver of the bank, has decided not to undertake to give the $2,000 bail required ...
Source
newspapers

Newspaper Articles (12)

Article from Daily Yellowstone Journal, August 27, 1884

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Livingston's First National A well authenticated rumor is to the effect that Mr. Pyle who was recently appointed assistant cashier of the First National bank of Livingston, by direction of its stockholders, has been instructed by the comptroller of currency to do no business in the said First National, except to collect what be can of any indebtedness due the bank until a receiver is appointed to succeed him. The JOURNAL predicts that the receiver will be appointed in a very few days. An experience of gross mismanagement such as the stockholders of that bank are eompelled to look after and pay for is enough to make them weary of banking business. The Livingston papers are inclined to throw a mantle over what they call "gossip," but where the facts hold out the statements SQ well the gossip must have been well founded.


Article from St. Paul Daily Globe, October 3, 1884

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Mr. Fogarty's Trouble.

The late cashier of the First National bank of Livingston, Mr. D. E. Fogarty, whose arrest took place at Livingston on Saturday, on a charge of technical embezzlement preferred by the receiver of the bank, has decided not to undertake to give the $2,000 bail required, but to spend the interval before the sitting of the grand jury of the next term of the district court in the county jail at Bozeman. The offer made to Mr. Fogarty to furnish him bail was declined by him.

The case against him appears to be purely technical and the prosecution an instance of persecution that none of the circumstances of the bank's failure demand.


Article from The Bozeman Weekly Chronicle, October 8, 1884

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Fructuary Fogerty

D. E, Fogerty. cashier of the National bank now numbered among the dead institutions of Livingston, was arrested last week for alleged crookedness. Failing to produce $2000 bail on Wednesday was brought to Bozeman and placed in jail to await. the action of the next district court. In referring to the arrest the PioneerPress make a damaging statement, which we hope may be disapproyed. It says : "The above announcement will not cause much surprise in St. Paul, Mr. Fogerty's former home, since the trouble at the Livingston bank and the carelessness of its late cashier have been topics of general comment for some time. In a recent interview in the Pioneer-Press, N. P. Lengford, United States bank examiner, said that while Mr. Fogarty had not, probably, been guilty of any crime, he was none the less amendable to the law on the charge of criminal carelessness. Mr. Langford, in common with all the experts who examined into the affairs of the bank, were surprised, not to say disqusted, at the loose methods of bookkeeping and accounting there in vogue. It was openlp stated in St. Paul when the receiver got at the bottom of affairs there would be trouble for Fogerty. Still, no one believes him guilty of criminal intent, or that he has made any money of the suspended First National or its depositors. He was for several years bookkecper in the German American bank in St. Paul, and while occupying that position several times laid himself open to severe criticism for carelessness, at one time narrowly escaping arrest through a piece of sheer folly, practiced to secure a balance in a hurry that he might keep a social engagement. Fogartv went to Livingston and assumed the duties of cashier of the First National when that bank was openedβ€”more than a year ago. His habits are regular so far as known, nor is he charged with outside speculation. A good deal more fool than knave, is the general comment in St. Paul concering the man."


Article from Union County Courier, October 15, 1884

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THE LATEST IN GENERAL.

JOSETH BOYD, stepson of Alderman John Langdon, of LaCrosse, Wis., was driving a team home, when they became frightened and uncontrollable. They ran a short distance when Boyd, seeing they were about to collide with a wagon in which a little girl was seated, turned them against a large tree. The pole of the wagon struck the tree and Boyd was pitched out, his head striking the tree with such violence that h's skull was crushed and jaw bone broken, death being instantaneous. He leaves a wife and infant child.

D. E. FOGARTY, the Cashier of the bankrupt First National Bank of Livingston, Montana, who was arrested and in default of bail was brought to Bozeman and lodged in the county jail, has been so prostrated since his arrest by the troubles closing round him that his physician is very much a'armed for his safety, and is fearful that the illness now fastened upon him will end only in death.

N. MORGAN ROTH, dealer in gentlemen's furnishing goods, Chicago, has been closed by the sheriff. Liabilities, $35,000; assets about $23,000.

H. ZIMMERMAN & CO., of Chicago, cloak manufacturers, assigned. Liabilities, $8,000; assets, $55,000.

A CHICAGO firm, Wardell & Hinckley, dealers in engines and machinery, were closed by the sheriff. Liabilities $25,000; assets, $18,000.

THE schedule in the assignment of Burnett & Pond. New York, was filed. The total liabilities are $617,000; $385,000 actual assets.

GEN. DELISLE telegraphs: "The Chinese lost 1,000 men including several Generals in the late battle."

GRANVILLE, British Minister of Foreign Affairs, has forwarded Bismarck his acceptance of the invitation to attend, in behalf of England, the conference at Berlin upon Congo affairs, provided the conference be confined to questions concerning the commerce of the Congo, and shall not include French disputes relative to the territory of West Africa. The conference will meet at Berlin, Nov. 6. Bismarck will preside.

THE bonded warehouse of J. G. Reach & Co., Uniontown, Ky., took fire and was totally destroyed, together with about 2,000 barrels of whisky, which was three years old and valued at $150,000. The total loss will reach $175,000

FIVE cars of a freight train jumped the track near Henderson, Ky., rolled over an embankment, and were completely demolished. Henry Epmic and Louis Hoag were fatally injured.

DOCK MARTIN, who killed E. N. Pleasants, at Rolling Falls, Miss., was lynched by a mob of colored men, who overpowered the guards.

DANIEL DONAHUE, returning home in New York, found his wife suspended by her neck to the transom of her bedroom. In his excitement he rushed out, when he ran against a policeman who arrested him. On investigation he was released, it being evident that the woman had committed suicide.

OWING to the disappearance of cholera in Europe, the Secretary of the Treasury has requested the Department of State to discontinue the services of Sanitary Inspectors at London and Liverpool. The Inspectors in France and Italy will be retained for the present.


Article from The Livingston Enterprise, November 15, 1884

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Article Text

OTICE

N TREASURY DEPARTMENT, Office of Comptroller of the Currency, WASHINGTON, August 25, 1884. Notice is hereby given to all persons who may have claims against "The First National Bank of Livingston," Montana Territory, that the same must be presented to Charles A. Baker, Receiver, with the legal proof thereof, within three months from this date or they will be disaliowid J.S. LANGWORTHY, Deputy and Acting Comptroller ot the Currency. (d6t-w10t)


Article from The Livingston Enterprise, November 29, 1884

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OTICE

N TREASURY DEPARTMENT, Office of Comptroller of the Currency, WASHINGTON, August 25, 1884. Notice is hereby given to all persons who may have claims against "The First National Bank of Livingston," Montana Territory, that the saine must be presented to Charles A. Baker, Receiver, with the legal proof thereot, within three months from this date or they will be disallowed. J. S. LANGWORTHY, Deputy and Acting Comptroller of the Currency. (d6t-w10t)


Article from The Livingston Enterprise, July 11, 1885

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IDS FOR REAL ESTATE

-By virtue of B an order of the District Court for the First Judicial District for the Territory of Montana, dated the second day of January, A. D. 1885, bids will be received by the undersigned for the purchase of the real estate hereinafter described. Said property is described as follows, to-wit: Lot number one (1) in Block number sixty-one (61), in town of Livingston, with the Bank Building standing on the same. I am authorized to sell with this lot and building the Fixtures in the Bank, consisting of Counters, Desks and Safe. The appraised value of the property is Thirteen Thousand and Flve Hundred Dollars ($13,500). The right is reserved to reject any and all bids. Terms of sale-CASH. CHARLES A. BAKER, Receiver of The First National Bank of Livingston, M.T. first pub. may30.


Article from The Livingston Enterprise, July 18, 1885

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IDS FOR REAL ESTATE

-By virtue of B an order of the District Court for the First Judicial District for the Territory of Montana, dated the second day of January, A. D. 1885, bids will be received by the undersigned for the purchase of the real estate hereinafter described. Said property is described as follows, to-wit: Lot number one (1) in Block number sixty-one (61), in town of Livingston, with the Bank Building standing on the same. I am authorized to sell with this lot and building the Fixtures in the Bank, consisting of Counters, Desks and Safe. The appraised value of the property is Thirteen Thousand and Flve Hundred Dollars ($13,500). The right is reserved to reject any and all bids. Terms of sale-CASH. CHARLES A. BAKER, Receiver of The First National Bank of Livingston, M. T. first pub. may30.


Article from The Livingston Enterprise, July 25, 1885

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an order of the District Court for the First B IDS FOR REAL ESTATE.-By virtue of Judicial District for the Territory of Montana, dated the second day of January, A. D. 1885, bids will be received by the undersigned for the purchase of the real estate hereinafter described. Said property is described as follows, to-wit: Lot number one (1) in Block number sixty-one (61), in town of Livingston, with the Bank Building standing on the same. I am authorized to sell with this lot and building the Fixtures in the Bank, consisting of Counters, Desks and Safe. The appraised value of the property is Thirteen Thousand and Flve Hundred Dollars ($13,500). The right is reserved to reject any and all bids. Terms of sale-CASH. CHARLES A. BAKER, Receiver of The First National Bank of Livingston, M. T. first pub. may30.


Article from The Livingston Enterprise, August 1, 1885

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IDS FOR REAL ESTATE

-By virtue of B an order of the District Court for the First Judicial District for the Territory of Montana, dated the second day of January, A. D. 1885, bids will be received by the undersigned for the purchase of the real estate hereinafter described. Said property is described as follows, to-wit: Lot number one (1) in Block number sixty-one (61), in town of Livingston, with the Bank Building standing on the same. I am authorized to sell with this lot and building the Fixtures in the Bank, consisting of Counters, Desks and Safe. The appraised value of the property is Thirteen Thousand and Flve Hundred Dollars ($13,500). The right is reserved to reject any and all bids. Terms of sale-CASH. CHARLES A. BAKER, Receiver of The First National Bank of Livingston, M.T. first pub. may30.


Article from The Livingston Enterprise, August 15, 1885

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IDS FOR REAL ESTATE

-By virtue of B an order of the District Court for the First Judicial District for the Territory of Montana, dated the second day of January, A. 1. 1885, bids will be received by the undersigned for the purchase of the real estate hereinafter described. Said property is described as follows, to-wit: Lot number one (1) in Block number sixtv-one (61), in town of Livingston, with the Bank Building standing on the same. I am authorized to sell with this lot and building the Fixtures in the Bank, consisting of Counters, Desks and Safe. The appraised value of the property is Thirteen Thousand and Flve Hundred Dollars ($13,500). The right is reserved to reject any and all bids. Terms of sale-CASH. CHARLES A. BAKER, Receiver of The First National Bank of Livingston, M. T. first pub. may30.


Article from The Livingston Enterprise, August 22, 1885

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IDS FOR REAL ESTATE

-By virtue of B an order of the District Court for the First Judicial District for the Territory of Montana, dated the second day of January, A. D. 1885, bids will be received by the undersigned for the purchase of the real estate hereinafter described. Said property is described as follows, to-wit: Lot number one (1) 111 Block number sixtv-one (61), in town of Livingston, with the Bank Building standing on the same. I am authorized to sell with this lot and building the Fixtures in the Bank, consisting of Counters, Desks and Safe. The appraised value of the property is Thirteen Thousand and Flve Hundred Dollars ($13,500) The right is reserved to reject any and all bids. Terms of sale-CASH. CHARLES A. BAKER. Receiver of The First National Bank of Livingston, M. T. first pub. may30.