3009. Merchants National Bank (Rome, GA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
3670
Charter Number
3670
Start Date
April 27, 1895
Location
Rome, Georgia (34.257, -85.165)

Metadata

Model
gpt-5-mini
Short Digest
6a16cdac

Response Measures

None

Description

The Merchants National Bank of Rome, GA suspended payment on April 27, 1895 (announced as a temporary closure; bank was short of ready money and reportedly overloaded with real estate). The Comptroller/examiner took charge; the bank complied with conditions and was authorized to resume business Aug 8, 1895. No contemporaneous article describes a depositor run triggering the suspension.

Events (2)

1. April 27, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was short of ready money and seems to have been overloaded with real estate, upon which it could not realize. Comptroller/examiner placed in charge; president resigned.
Newspaper Excerpt
This bank closed temporarily by order of the board of directors... the suspension of the bank was a great surprise... it is short of ready money.
Source
newspapers
2. August 8, 1895 Reopening
Newspaper Excerpt
The Merchants' National Bank of Rome, Georgia ... has been authorized to reopen its doors and resume business. The bank suspended April 27, 1895, but has fully complied with the conditions imposed by the Comptroller of the Currency, and its capital stock is unimpaired.
Source
newspapers

Newspaper Articles (18)

Article from The Morning News, March 25, 1894

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Article Text

GEORGIA AND FLORIDA. The News of the Two States Told in Paragraphs. A New Manufacturing Establishment for Talbotton-A Failure at Griffin. State Convention of the Catholic Knights of America-A Rome Bank Reduces Its Capital Stock One-half. GEORGIA. The new postoffice at Barrington will soon be estatlished. O.S. Davis has been appointed postmaster at Sapelo, McIntosh county. It is reported that Miss Florence Leonard. of Arlington. has sold the patent on her traveling case for $40,000. The Catholic Knights of America of Georgia. will hold their annual state convention at Macon, beginning to-morrow. An effort is being made to secure a post office at the place of Joe Womack, 10 miles from Blakely, on the Fort Gaines road. The body of John Anderson, of Rome, who was drowned in the Coosa river a few days ago, was found at Cedar Bluff Thursday. The city of Sandersville has been temporarily enjoined from subscribing money for the construction of a railroad from that point to Tennille. Adolphus is the name of a new postoffice established at West Fricks. in F ranklin county The office is to be supplied by the Toccoa and Henry route. Mr. Frick is postmaster. G. W. Edwards has exchanged his place on the corner of Sage and Currahee streets at Toccoa with E. P. Simpson for the Toccoa hotel property on Doyle street. Mr. Edwards intends building a residence where the old hotel stands. Among the many "oldest inhabitants" of Sumter county is Nathan Veal. who tills the soil on his little farm some ten or twelve miles east of Americus. Thursday he celebrated his 91st birthday by working in his cornfield from daylight until sundown. Miss Sallie Brooks. who is principal of the Griffin school in Spalding county, swallowed a pin some few days ago, which caught in the upper portion of her throat. : he is at present in Sandersville under the treatment of Dr. Rawlings. Her condition is reported critical. J. A. Sain and Peter Herman, a capitalist from Tell City, Ind., propose to manufacture at Talbotton. hames, plow stocks. buggy and wagon material and other articles in this line. Ample money is in hand, and the buildings, etc. will cost about $7,000. Fifteen or twenty workmen will be required. On last Monday night at 8 o'clock William B Pierce, of Hampton, in Henry county, died of heart disease. Mr. Pierce had just returned home from Atlanta and was sitting in his chair resting. when. without a word or symptom of any struggle, he calmly sank in his seat and expired. Mr. Pierce was 57 years old Several days ago the store of B. Pearlman & Morris, dealers in dry goodsand notions, at Americus. was closed. pending a settlement of the affairs of one of the partners. Henry Morris deceased. Thursday the matter was left to arbitration, and terms agreeable to all concerned were entered into. Later in the day the doors were again opened and business resumed. There was a meeting of the stockholders of the Merchants National Bank of Rome a day or two ago. It was in conformity with an advertisement for reducing the capital stock, and that action was taken. The capital stock was reduced from $200.000 to $100,000. Since the bank went into business in 1887 it has earned between $85,000 and $90,000 in profits and has paid out $60.000 in dividends. The report shows a capital of $100,000 and surplus of at out $30,000. During the year 1893 there was shipped from Darien. in round numbers. 74,000,000 superficial feet of pitch pine timber, lumber. etc. Of this amount 33,000,00 feet was shipped to foreign ports, the balance going coastwise. It required 185 vessels, with a total tonnage of 97 300. to export this timber. The value of the timber shipped last year is estimated at $1.200.000. There was more timber shipped during the year 1893 than there was in 1892. Over 100.000,000 feet of timber and lumber came into the port of Darien during the past year. H. C. Burr has been appointed temporary receiver for E. J. Flemister & Bros., of Griffin, dealers in dry goods, groceries and clothing. The first claims on the busin SS are those of the City National Bank for $1,900; Daniel Miller & Co., of Baltimore, $4,100; Mrs. E. J. Flemister for $2,800. and H. C. Burr indorser for $400. The total liabilities are placed at $20,000. The work of taking stock was begun last night. and the sto k and accounts are estimated at $30,00). The application for a permanent receiver will be beard at Zebulon next Tuesday.


Article from The Seattle Post-Intelligencer, April 28, 1895

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Business Failures. Washington City, April 27.-A telegram was received today by Comptroller Eckels stating that the Merchants' National bank of Rome, Georgia, had closed. The bank has a capital of $170,000. San Francisco, April 27.-Rumble & Co., put and call operators on the produce exchange, suspended payment today on a


Article from Birmingham Age-Herald, April 28, 1895

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IT WAS A SURPRISE. The Suspension of the Merchant's National Bank of Rome, Ga. Rome, Ga., April 27.-"This bank closed temporarily by order of the board of directors" was the notice posted on the closed doors of the Merchants' National bank this morning. The suspension of the bank was a great surprise. It is believed that all the depositors will be paid every dollar. The directors hope to reopen the institution soon, with a new president. The city's funds, amounting to several thousand dollars, were deposited in the bank. President Jack King has tendered his resignation. No statement can be obtained of the bank's affairs beyond the announcement that it is short of ready money.


Article from The Indianapolis Journal, April 28, 1895

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General Notes. WASHINGTON, April 27.-To-day's statement of the condition of the treasury shows: Available cash balance, $185,313,986; gold reserve, $91,172,125. Judge Cox to-day set May 13 for the new trial of H. W. Howgate, the embezzling disbursing officer of the Weather Bureau. He announced that he will accept $15,000 bail. Eleven indictments are pending against Howgate. Secretary Gresham has cabled Embassador Runyon at Berlin, to use his best efforts with the German government to facilitate the work of the American newspaper correspondents at. the great Kiel demonstration next month. A telegram was received to-day by Controller Eckels stating that the Merchants' National Bank of Rome, Ga., had closed its doors. The bank has a capital of $100,000.


Article from The Providence News, April 29, 1895

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Article Text

Georgia Bank Suspends. WASHINGTON, April 29.-The Merchants' National bank of Rome, Ga., has closed its doors. The bank has a capital of $100,DOO.


Article from New-York Tribune, April 29, 1895

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COLLAPSE OF A GEORGIA BANK. Rome, Ga., April 28.-The suspension of the Merchants' National Bank yesterday was a great surprise. It is believed that all the depositors will be paid in full. The directors hope to reopen the institution soon with a new president. The city's funds, amounting to several thousand dollars. were deposited in the bank. President King has tendered his resignation, and the bank examiner has been placed in charge. The institution seems to have been overloaded with real estate, upon which It could not realize. The deposits amounted to $165,000.


Article from Evening Star, August 8, 1895

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Will Resume Business. The Merchants' National Bank of Rome, Georgia, which suspended payment April 27, 1895, having fully complied with the conditions imposed by the controller of the currency precedent to resumption, and its capital stock being unimpaired, has been authorized to reopen its doors and resume business.


Article from The Evening Times, August 8, 1895

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Bank of Rescue. The Merchants National Bank, of Rome, Ga., has been authorized by the Comptroller to reopen its doors and resume business. This bank suspended payment April 27, 1895, but has fully complied with the conditions imposed by the Comptroller of the Currency, and its capital stock is uninjured.


Article from Birmingham Age-Herald, August 9, 1895

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Rome, Ga., Bank Authorized to Resume. Washington, Aug. 8.-The Merchants' National bank of Rome, Ga., has been authorized by the comptroller to resume business. The bank suspended April 27, 1895, but has fully complied with the conditions imposed by the comptroller of the currency, and its capital stock is uninjured.


Article from San Antonio Daily Light, August 9, 1895

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Merchant's National Resumes. WASHINGTON, Aug. 9.-The Merchant's National bank, of Rome, Ga., which suspended payment April 27, 1895, having fully complied with the conditions imposed by the comptroller of the currency, precedent to the resumption, and its capital stock being unimpaired, has been authorized to resume business.


Article from The Times, August 9, 1895

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A Bank to Resume. WASHINGTON, D. C., Aug. 8.-The Merchants National Bank of Rome, Ga. has been authorized by the Comptroller to resume business. The bank suspended April 27, 1895, but has fully complied with the conditions imposed by the Comptreller of the Currency, and its capital stock is uninjured.


Article from The Morning News, August 9, 1895

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Rome's Bank to Resume. Washington, Aug. 8.-The Merchants' National Bank of Rome, Ga., has been authorized by the controller to resume business. The bank suspended on April 27, 1895, but has fully complied with the conditions imposed by the Controller of the Currency and its capital stock is uninjured.


Article from The Indianapolis Journal, August 9, 1895

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General Notes. WASHINGTON, Aug. 8.-The Controller of the Currency has appointed Frank M. Wallace, of Pittsburg, a national bank examiner, to succeed A. F. Henlein, resigned. The Merchants' National Bank, of Rome, Ga., which suspended payment April 27, 1895, having fully complied with the conditions imposed by the Controller of the Currency precedent to resumption, and its capital stock being unimpaired, has been authorized to resume business. To-day's statement of the condition of the treasury shows: Available cash balance, $184,142,803; gold reserve, $104,118,662. At Indian Head, to-day, a test was made by Lieutenant Mason of the Leonard bulletproof shield cloth for the purpose of ascertaining its fitness for naval purposes. The official report will be made in a few days. A marriage license has been issued here to Marshall A. Cunning, of Indianapolis, and Hannah Anderson, of Washington. The President has refused a pardon in the case of Jim Billy, sentenced in. Texas to three years for assault with intent to rob. Among the cadets appointed to the Mili tary Academy at West Point is Charles Borders, of Winamac, Ind., as alternate. Postmaster-general Wilson left the city for a few days at Long Branch to-day. Third Assistant Craig is now acting as Postmaster-general, the first, second and fourth assistants being absent on vacations.


Article from The Ely Miner, August 14, 1895

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THE NEWS. Compiled From Late Dispatches. DOMESTIC. THE Rocky Mountain savings bank at Denver closed its doors with liabitities of $60,000. Peoria, III., has been decided on as the permanent headquarters of the Order of Railway Telegraphers. THE secret service gave warning of a new photographic counterfeit five-dollar national bank note. First national bank of Flint, Mich., series of 1882. A. E. KELLEY, a commission dealer, shot and killed himself at the grave of his wife in Cleveland, O. A DISPATCH received at the war department from Gen. Coppinger at Jackson's Hole, Wyo., said the Indian scouts were still out and could find no Indians, and that all was quiet. THE Italian miners at Spring Valley. Ill., drove the negroes from the town. Women with three and four children running after them were driven over the hills and through the woods, many shots being fired after them as they fled. The governor was appealed to for aid, and negroes in Chicago and other cities were arming themselves wit a view of going to Spring Valley to avenge the outrage inflicted their race. THE reports as to the condition of crops throughout the country made by the directors of the different state weather bureaus were favorable. ELI Hix, a laborer at Bigstone Gap, Va., while drunk set fire to his home and he and four of his children were cremated. THE G. Y. Roots Flour company in Cincinnati failed for $100,000. JOHN GREER and Henry Greer, cousins. of Carter county, Tenn., fought with knives over the ill-treatment of the latter's child and both were killed. THE twenty-seventh reunion of the Society of the Army of the Tennessee will be held in Cincinnati Monday and Tuesday, September 16 and 17, 1895. JOE HAMILTON and Clarence Chapman, of Lonoke county, Ark., cut each other to death with pocketknives because they could not agree as to which owned a bull. JUDGE GOFF in the South Carolina registration case dismissed the complainant's bill for an injunction. This decision upholds the present registration laws. THE school census of Nashville, Tenn., shows the population to be 82,374, of which 37,654 are negroes, an increase in one year of 8,268. THE president appointed Parton E. Burton, of Washington state, to be United States district attorney for the district of Alaska. THE annual meeting of the Catholic Total Abstinence union of America commenced in New York. TWELVE persons were reported killed and twenty-five wounded in a wreck on the Atlantic & Pacific railroad at Grant Station, N. M. BLACK rust was said to be ruining hundreds of fields of spring wheat in Logan, Trego and Thomas counties in Kansas. AT the national convention in Lima, O., of the Union Veterans union L. F. Ellis. of Cleveland, was elected commander in chief. MINERS in mass meeting rescinded a resolution expelling all negroes from Spring Valley, Ill. THE total cost of the eleventh census up to date is placed at $10,531.142. The work will be completed during the calendar year. THE old established book and stationery house of B. F. Wade & Co. failed at Toledo, O. IN a pacing race at Buffalo, N. Y., Joe Patchen defeated Robert J., taking three out of four heats. T be best time was 2:04 1/2. A PIAZZA on the Seaview hotel at a summer resort near Portsmouth, N. H., collapsed while 100 persons were upon it. and many were injured. E. A. SMITH, a barber, dropped dead at Jacksonville. Fla. Since his death it has developed that he was married to seven women. REPORTS received at the state department in Washington from the United States consul at Victoria, B. C., were that the seals in Behring sea were practically exterminated. FIRE at Pendleton, Ore., consumed the Transfer hotel and several buildings and four persons lost their lives. C. F. & G. W. EDDY, commission merchants of Boston, failed for over $1,000,000. They overspeculated on corn in Chicago. THE Merchants' national bank of Rome Ga which suspended payment


Article from River Falls Journal, August 15, 1895

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IN Cleveland, 0., A. E. Kelley, a commission dealer, shot and killed himself at the grave of his wife. WHILE drunk Eli Hix, a laborer at Bigstone Gap, Va., set fire to his home and be and four of his children were cremated. THE Iowa democrats in state convention at Marshalltown nominated the following ticket: For governor, Judge W. I. Babb, of Mount Pleasant; lieutenant governor, S. L. Bestow, of Chariton; superintendent of public instruction, Lyman B. Parshall, of Maquoketa; railroad commissioner, Col. George James, of Dubuque; supreme judge, Senator Thomas G. Harper, of Des Moines. The platform reaffirms the national platform of 1892, indorssing the money plank therein adopted, urges the repeal of the mulet law and the enactment of a local option measure, favors the election of United States senators by a direct vote of the people and favors just and liberal pensions to all deserving veterans. THE death of Mrs. Archibald Thacker, aged 104 years, occurred at her home in Martinsville, Ind. THE doors of the Rocky Mountain savings bank at Denver were closed, with liabilities of $60,000. A SCHOOL census of Nashville, Tenn., shows the population to be 82,374, of which 37,654 are negroes, an increase in one year of 8,268. ON Monday and Tuesday, September 16 and 17, 1895, the twenty-seventh reunion of the Society of the Army of the Tennessee will be held in Cincinnati. MISSISSIPPI democrats in convention at Jackson nominated A. J. McLaurin for governor. L. F. ELLIS, of Cleveland, was elected commander in chief at the national convention in Lima, O., of the Union Veterans' union. IN a wreck on the Atlantic & Pacific railroad tGrant Station, N. M., twelve persons were reported killed and twenty-five wounded. THE Nebraska republican convention will be held at Lincoln October 2. AT Toledo, O., the old established book and stationery house of B. F. Wade & Co. failed. IN mass meeting the miners rescinded a resolution expelling all neg: bes from Spring Valley, III. AT a railway crossing in Decatur, Ind., Mrs. Henry Johnson and her three children were struck by an engine and one child was instantly killed and the others were fatally injured. FLAMES at Pendleton, Ore consumed the Transfer hotel and several buildings and four persons lost their lives. IN Logan, Trego and Thomas counties in Kansas, black rust was sald to be ruining hundreds of fields of spring wheat. Ar Peoria, III.. Hearst, Dunn & Co., a large agricultural implement firm, failed for $123,435; assets, $115,649. IN a railway wreck near Denver, Col., Rev. E. C. Wheeler, a Baptist evan, gelist, who had been in California with his car Emanuel, was killed. Several other persons were hurt. IN session at Minneapolis the United Typothetæ elected E. R. Andrews, of Rochester, N. Y., president and decided to meet in Rochester in August, 1896. AT his home in Lowell, Ind., Peter Surprise celebrated bis 102d birthday. AT Jacksonville, Fla., E. A. Smith, a barber, dropped dead. Since his death it has developed that he was married to seven women. AT Rome. Ga., the Merchants' national bank which suspended payment April 27, 1895, was authorized to resume business. IN the 64th year of his age Howell Edmunds Jackson, associate justice of the supreme court of the United States, died at his residence at West Meade, Tenn. of consumption. BETWEEN the summit of Pike's Peak and army headquarters in Denver, & distance of 09 miles, helio raph communications were exchanged.


Article from Warren Sheaf, August 15, 1895

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WEST AND SOUTH. THE Iowa democrats in state convention at Marshalltown nominated the following ticket: For governor, Judge W. I. Babb, of Mount Pleasant; lieutenant governor, S. L. Bestow, of Chariton; superintendent of publie instruetion, Lyman B. Parshall, of Maquoketa; railroad commissioner, Col. George James, of Dubuque; supreme judge, Senator Thomas G. Harper, of Des Moines. The platform reaffirms the national platform of 1892, indorsing the money plank therein adopted, urges the repeal of -the mulct law and the enactment of a local option measure, favors the election of United States senators by a direct vote of the people and favors just and liberal pensions to all deserving veterans. WHILE drunk EL Hix, a laborer at Bigstone Gap, Va., fire to his home and he and four of his children.were cremated. A SCHOOL census of Nashville, Tenn., shows the population to be 82,374, of which 37,654 are negroes, an increase in one year of 8,268. ON Monday and Tuesday, September 16 and 17, 1895, the twenty-seventh reunion of the Society of the Army of the Tennessee will be held in Cincinnati. MISSISSIPPI democrats in convention at Jackson nominated A. J. McLaurin for governor. L. F. ELLIS, of Cleveland, was elected commander in chief at the national convention in Lima, 0., of the Union Veterans' union. IN a wreck on the Atlantic & Pacific railroad at Grant Station, N. M., twelve persons were reported killed and twenty-five wounded. THE Nebraska republican convention will be held at Lincoln October 2. AT Toledo, O., the old established book and stationery house of B. F. Wade & Co. failed. IN mass meeting the miners rescinded a resolution expelling all negroes from Spring Valley, III. AT a railway crossing in Decatur, Ind., Mrs. Henry Johnson and her three children were struck by an engine and one child was instantly killed and the others were fatally injured. FLAMES at Pendleton, Ore., consumed the Transfer hotel and several buildings and four persons lest their lives. IN Logan, Trego and Thomas counties in Kansas, black rust was said to be ruining hundreds of fields of spring wheat AT Peoria, III., Hearst, Dunn & Co., a large agricultural implement firm, failed for $133, 435; assets, $115,649. IN a railway wreck near Denver, Col., Rev. E. C. Wheeler, a Baptist evan, gelist, who had been in California with his car Emanuel; was killed. Several other persons were hurt. IN session at Minneapolis the United Typothete elected E. R. Andrews, of Rochester, N. Y., president and decided to meet in Rochester in August, 1896. AT his home in Lowell, Ind., Peter Surprise celebrated his 102d birthday. a AT Jacksonville, Fla., E. A. Smith, barber, dropped dead. Since his death it has developed that he was married to seven women. AT Rome. Ga., the Merchants' national bank which suspended payment April 27, 1895, was authorized to resume business. IN the 64th year of his age Howell Edmunds Jackson, associate justice of the supreme court of the United States, died at his residence at West Meade, Tenn., of consumption. BETWEEN the summit of Pike's Peak and army headquarters in Denver, a distance of 60 miles, heliograph communications were exchanged.


Article from The Gold Leaf, August 15, 1895

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Col. Burgwyn's Good Management. About four months ago the Merchant's National Bank of Rome, Ga., suspended. Soon thereafter Col. W. II. S. Burgwyn, bank examiner, was put in charge to wind up its business. This he has done with good success, the result being that the bank has again opened its doors, under new organization, as we see from the Rome Tribune of last Friday. That paper in speaking of the excellent management of our townsman since the affairs of the suspended bank were put in his hands, says this : Col. Burgwyn, the bank examiner, who bas SO faithfully guarded the trust confided to him, turned the affairs of the bank over to the new board of directors and the new officers were duly installed. In his excellent management of the affairs of the bank, enabling the stockholders to recover themselves and reorganize under such favorable terms. Col. Burgwyn deserves and has received the thanks of the stockholders and depositors of the bank together with all the people of Rome.


Article from Perrysburg Journal, August 17, 1895

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WEST AND SOUTH. AT his home in Lowell, Ind., Peter Surprise celebrated his 102d birthday. AT Jacksonville, Fla., E. A. Smith, a barber, dropped dead. Since his death it has developed that he was married to seven women. AT Rome. Ga., the Merchants' national bank which suspended payment April 27, 1895, was authorized to resume business. IN the 64th year of his age Howell Edmiunds Jackson, associate justice of the supreme court of the United States, died at his residence at West Meade, Tenn., of consumption. BETWEEN the summit of Pike's Peak and army headquarters in Denver, a distance of 60 miles, heliograph communications were exchanged. A DOG capsized a boat on the lake at Highland Park, Ill., and M. T. Green, president of the Chicago Lumber company, and Sorn Sorenson were drowned. THE doors of the Bank of Palouse, at Palouse City, Wash., were closed with liabilities of $65,000. HELEN C. STEWART, of Springfield, Mo., was appointed sheriff of Green county, to succeed her deceased husband. Mrs. Stewart, as far as known, is the first woman sheriff in the United States. FLAMES in the lumber piles of the Skillings, Whitney & Barnes Co. at Ogdensburg, N. Y., destroyed property valued at $150,000. IN San Quentin prison, California, Tremont Smith was hanged for the murder of two fishing companions. THE death of Mrs. Mary Winns occurred at Cincinnati, aged 108 years. NEAR Decatur, Ind., a horse became frightened and plunged off of a 30-foot embankment, and three prominent society women, Mrs. Mangold, Mrs. J. C. Paterson and her mother, Mrs. Erwin, were fatally injured. AT the Alpha home in Indianapolis Mrs. Kedzie Pierce. who had formerly been a slave in Virginia, died at the age of 123 years. THE assessed valuation of the state of Iowa is $558,985,292. LIGHTNING killed Arthur and C. J. Johnson (brothers) and A. C. Anderson near Odebolt, Ia. They bad taken refuge under a tree during a storm. FIRE destroyed the fertilizer factory