317201122 31720
national
828855155dcef234Accommodated withdrawals, Clearinghouse loan, Public signal of financial health, Full suspension, Books examined
Clearinghouse involved: Yes (loan, examination, or other measures)
Click image to open full size in new tab
CONDENSED TELEGRAMS. The Merchants' National Bank, of Tacoma, Wash., suspended payment yesterday. The bank will probably re. sume in a few days. In the international billiard match in London last night Ives scored 1,540 points in one run. The score now is Ives 4,001; Roberts 3,484. A special from Dunkirk, N. Y., says that a report reached there from Van Buron point that a farm house was burned this morning and that four of the five inmates perished in the flames.
Click image to open full size in new tab
Tem sporary Bank Suspension. (By telegraph to the Dispatch.) TACOMA, WASH., June 1.-The - Merchants' National bank, the oldest banking institution in the city, suspended payment temporarily this morning. A notice on the door stated that this action was taken on account of the stringency of the money market and inability to make collections. The bank will probably resume in a few days.
Click image to open full size in new tab
Tacoma Bank Suspends. TACOMA, Wash., June2.-The Merchants National Bank, the oldest banking institntion in this city, has surpended payment temporarily. A notice on the door states that the action is taken on account of stringency of the money market and inability to make collections. The bank will probably resuine in a few days.
Click image to open full size in new tab
IN THE INTEREST OF OMAHA Efforts Being Made to Have Granite Used in the Federal Building. REASONS FOR DESIRING THIS MATERIAL No Other Stone Can Be Used with Advantage as a Result of the Severe Climate-Senator Manderson at Work. WASHINGTON BUREAU OF THE BEE, 513 FOURTEENTH STREET, WASHINGTON. D. C., June 1. Senator Manderson arrived in Washington today. He is here to contend for a granite construction according to the original proposals for the new public building at Omaha. The senator said that Supervising Architect O'Rourke had said to him before his departure for Nebraska that there was no intention to order new proposals. The senator will see Secretary Carlisle tomorrow and inform him that the proposition to construct the building of sandstone, Bedford limestone or other material than granite will be a pure waste of money for the reason that the lighter materials of construction will not stand the climate of Nebraska, however popular they may be in the east and south. The senator said that Mr. O'Rourke's letter to him recently stated that a granite construction would exceed the appropriation at least $50,000. "If that is so," said the senator, "we will try and get the extra $50,000. which 1 think we can do without serious trouble." Senator Manderson is in earnest in this matter and there is no doubt that he will make things decidedly lively for those who have been attempting to alter the plans and readvertise for bids. Vifquain's Final Instructions. General Victor Vifquain of Lincoln, who was recently appointed consul general to Columbia, arrived here today from New York. General Vifquain at once called upon Secretary Gresham and received his final instructions. The general returned to New York this evening and will sail from that city for Panama, his post of duty, on Monday. To Reform the Public Service. The joint commission from the house and senate, which was appointed by the last congress to investigate and suggest methods for reforming the public service in the departments. has appointed a committee of three, to whom the work will be delegated. Two of the appointees are officers of the Atchison, Topeka & Santa Ferailroad, President J. E. Rinehart being one and E. W. Sells of Chicago another. The third commissioner IS Charles W. Haskins of New York. The commission will meet Monday to begin its labors in a room of the Treasury department. Western Pensions. The following pensions granted are reported: Nebraska: Original-Arthur Belding, Daniel W. Ellis, Henry Fuhrer. IncreaseSeth J. Arnett. Original widows, etc.Melinda Suggs. Magdalina Fuhrer. Iowa: Original-Daniel Fogal. Increase -Edwin A. Norton, Eze Flower, Robert Wempler. Reissue-John Chess, Harrison Clinkenbeard, William H. Wilson. Reissue and increase-John McLaughlin. Original, widows-Meribah Fowler. South Dakota: Increase-Joseph W. Barton. Washing ton Bank Failure. Comptroller Eckels received information after closing the department this evening of the failure of the Merchants National bank of Tacoma, Wash. A week ago the bank was regarded to be snaky and the examiner began looking into its affairs. He reported that the clearing house had come to the rescue with sufficient money to meet the run and expressed the opinion that it would tide over. Later the Chase National bank of New York drew out a large amount of deposit, which still further depleted the bank's resources and was the immediate cause of the failure. Personal Mention. At Wilcox, Kearney county. Neb., L. J. Wohlgemuth was appointed postmaster, vice
Click image to open full size in new tab
Run on Tacoma Banks. TACOMA, Wash., June 2-A heavy run on the Tacoma Trust and Savings bank and most of the other banks in the city continued today because of the suspension yesterday of the Merchants' National bank. All demande were promptly met and no further trouble is feared.
Click image to open full size in new tab
Run on Tacoma Banks. TACOMA, June 5.-A heavy run on the Tacoma Trust and Savings bank and most of the other banks in the city continued during the day because of the suspension of the Merchants' National bank. All demands were promptly met and no further trouble is feared.
Click image to open full size in new tab
# NEWS OF THE WEEK. Gathered from All Quarters. # DOMESTIC. AT St. Louis, Mo., on the 31st ult., it was stated that an amicable agreement had been reached in the difficulty existing for nearly four years between Liggett and Myers, tobacco manufacturers, and the Knights of Labor. PURCELL THOMAS, an Γ¦ronaut of national reputation, while making an umbrella descent from the top of the parade house at Buffalo, N. Y., on the 31st ult., lost control of the parachute and fell a distance of fifty feet, sustaining fatal injuries. Ar a meeting of the creditors of ex-Secretary Foster, at Fostoria, O., on the 31st ult., it was decided to accept 50 per cent. in payment of claims, leaving it with Mr. Foster entirely as to whether or not he should pay more in the future if he became financially able to do so. # THE Sixty-seventh annual meeting of the Home Missionary Society of the United States commenced at Saratoga Springs, N. Y., on the 31st. The reports showed total receipts for the past year $738,081, an increase over the previous year of $75,292. The society workers number 2,002, ministering to 3,841 congregations and missionary fields. New schools to the number of 265 have been organized. One hundred and forty new churches have been established. Gen. O. O. Howard was re-elected president; Rev. W. H. Holman, recording secretary; George S. Coe, auditor. A STOCK train on the Chicago, Milwaukee & St. Paul road was wrecked near Sioux City, Ia., on the 31st ult. Five persons were injured, one fatally. A half dozen cars were demolished and considerable stock killed. A DISPATCH was received at the state department from Minister Baker, dated Massaya, June 1, stating that peace is restored at Nicaragua and the new government went into operation on that day. # THE furnaces of the Rock Hill Coal and Iron Company at Rock Hill, Pa., were closed down indefinitely on the 31st ult., owing to a strike of the employes, who demanded the reinstatement of several discharged leaders of the local labor union. The company refused to accede to the demands of the men. ΠΡ Tacoma, Wash., on the 1st the directors of the Merchants' National bank announced a temporary suspension, owing to the run which lasted thirty days and the failure of the bank to realize on its assets # THE steamship Fuerst Bismark, which sailed from New York on the 1st for Europe, carried $2,750,000 gold and $182,800 silver. P. F. FLEURY, manager of the Waukesha Mineral Springs Company, was fatally shot by burglars at Chicago on the 1st. On the 1st Dean Bros.' bank at Ava, Ill., was robbed between 12 and 1 o'clock at noon of about $3,000. There was no clew as to who committed the robbery. Runners were sent out in all directions. NEAR Haddam, Washington county, Kan., on the 1st, S. C. Kerns shot and instantly killed W. R. Combs. They were interfering with a fist fight which was in progress between two farmers and began quareling themselves. Kerns drew a revolver from his boot and placing it at Combs' breast sent a bullet through his heart. FULL blooded Chickasaw Indians have held indignation meetings and forwarded protests to President Cleveland against letting the treasurer of the Chickasaws distribute the big strip money. They are afraid of being cheated. NEAR Los Angeles, Cal., on the 1st, a regular freight train was run into and badly wrecked by a special freight. George R. Shatte, a prominent capitalist, was instantly killed. A number of other passengers were badly cut and bruised. GEORGE M. VAN LEVEN, JR., has been held to the United States grand jury at Dubuque, Ia., in $2,000 bonds on the charge of illegally receiving money for securing a pension. D N. MORGAN, of Connecticut, the new United States treasurer, took the oath of office on the 1st and entered upon the discharge of his duties, relieving E. H. Nebecker, of Indiana. The committee appointed to count the money in the treasury immediately assumed charge and began the count. It will take six weeks to complete it. AT St. Louis, Mo., on the 1st representatives of several wholesale houses in that city returned from a conference recently held at Pittsburgh, Pa., and stated that another trust to be known as the American Flint Bottle Company is about to be formed with a capital of $1,000,000. # THE Hope rice mill at New Orleans, La., was totally destroyed by fire on 2d, entailing a loss of $100,000; partially insured. AT Nashville, Tenn., the high court of impeachment on the 2d found Judge Julius J. Dubose, of the Shelby county criminal court, guilty of two charges in the articles of impeachment preferred. # THE street car strike at Fort Wayne, Ind., was declared off on the 2d. The motormen and conductors were granted the advance in wages which they demanded. BUSINESS failures occurring during the seven days ending June 2, numbered for the United States 238 and for Canada 21, total 259, against 207 for the corresponding week of last year. # THE failure to raise $6,500,000 on the Cherokee strip bonds has caused a commercial crisis in the Indian territory. J. W. Stahler & Son, at Tahlequah, the principal traders on the strip
Click image to open full size in new tab
The Merchants' National bank of Tacoma, the oldest bank in that city, and the Plankerton bank of Milwaukee are among the latest to suspend payment.
Click image to open full size in new tab
congratulations. Old Tacoma Bank Fails. Tacoma, Wash., June 3.-The Merchants' National Bank, the oldest banking institution in the city, suspended payment temporarily Thursday morning. A notice on the door stated that the action is taken on account of the stringency of the money market and inability to make collections. The bank will provably resume in a few days. The bank has a paid up capital of $250,000.
Click image to open full size in new tab
A Receiver at Tacoma WASHINGTON, June 23.-Comptroller Eckles to-day appointed Robert Wingate receiver of the Merchants' National bank of Tacoma, Wash.
Click image to open full size in new tab
A Receiver for & Tacoma Bank. WASHINGTON, June 23.-Comptroller Eckels today appointed Robert Wingate receiver of the Merchants' National bank of Tacoma, Wash..
Click image to open full size in new tab
Bank Receiver Appointed. WASHINGTON, June 23.- Comptroller Eckles today appointed Robert Wingate receiver of the Merchants' National bank of Tacoma, Wash.
Click image to open full size in new tab
Took Possession. CHICAGO, Nov. 8.-The sheriff took possession of the Washington state building at the World's Fair ground 8 today under an attachment by the Union National Bank to enforce a claim of $1825. The Washington state commissioner had an account at the Merchants' National Bank, Tacoma, and they drew a check for $325 and a draft for $1000 on account, but the bank had suspended and the payment was refused. The Union Na. tional Bank of Chicago had the paper and brings suit to recover the amount advanced.
Click image to open full size in new tab
CHICAGO, Nov. 11-The sheriff took possession of Washington state building at the fair grounds. He acted on attachment proceedings brought in the superior court by the Union National bank to enforce claims for $1,325. The state commissioners had an account at the Merchants' National bank, Tacoma. They drew a check for $325 and a draft for $1,000 on the account, but the bank had suspended and payment was refused. The Union National of Chicago had cashed the paper and now prings suit to recover the amount advanced.
Click image to open full size in new tab
The Merchants' Bank Frauds. TACOMA, Jan. 25.-(Special.|-Receiver Robert Wingate, of the Merchants' National bank, was summoned twice before the county grand jury today. He did not take his books with him the first trip, but when he returned the second time he had them. Mr. Wingate as receiver has begun suit against the South Side Land Company to foreclose 8 $25,000 mortgage. ExPresident W. J. Thompson, of the Merchants' National bank, was the principal owner of that property.
Click image to open full size in new tab
The Merchant's National Bank Frauds. TACOMA, Feb. 20.-[Special.]-Many witnesses were summoned before the Federal grand jury today to testify in the Mer chant's National bank case. A representative of the clearing house was also summoned, together with several of those who have lost money through warrants which were protested by the correspondents of the suspended bank.
Click image to open full size in new tab
NEWS OF TACOMA TACOMA BUREAU or Tax SENCER, 1118 PACIFIC AVENUE. THOMAS BAMMONS, MANAGER. THE BANK WRECKERS Thompson, Drum, Collyer and Davis Indicted. STRAW PAPER IN THE ASSETS. I Boom Boose 2 3 I I 1 i i I 100 I TACOMA. March - (Special)-The Federal grand jury today indicted a num. ber of the officers of the suspended Merchants' National bank on seven counts, alleging false entry and straw paper as follows: Promissory notes-Samuel Collyer to Louisia D. Collyer, September, 1892, $1,971.14 and $1,902.86 False entries False entries of promissory notes-W. R. Bradley, December 28, 1800, $3,874: William H. Adams, September 11, 1893, $13,500 and $675 interest; Henry Drum, $12,225; W. J. Thompson $1,275: W. J. Thompson, $18,000; W. J. Thompson, president, and E. W. Ferrin, secretary, Bouth Side Land Company. $25,000. The men indicted are: Ex-President Walter J. Thompson, Vice President Henry Drum, Cashier Samuel Collyer, Assistant Cashier R. J. Davis. Judge Hanford fixed their bail in the sum of $2,500 each, and it was promptly furnished, follows: : Assistant Cashier R. J. Davis-Surety, Mc D. John Allister. Cashier Samuel Collyer-Surety, Gen. J a. Bradiey Vice President Henry Dram-Sureties, Hugh C. Wallace, Ferdinand T. Mead, Charles W. Morrill. Ex-President W. J. Thompson-Su -Sureties, George O. Kelley. William H. Fire. The indictments were handed in about 2 2p. m., and before 5 p. m. the men indieted had turnished bonds and departed from the office of Clerk Ayres, of the United States court. The warrant in each instance was given to Deputy Marshal Ed Minch, but before he had a chance to notify most of the men they appeared with bondsmen and inquired the amount of the bonds. Judge Hanford having gone to Seattle before the indicted men had an opportunity to appear Clerk Ayres prepared the bonds. Before reading the indictment all the officers assured a reporter of the Tacoma bureau of the POST-INTELLIGENCER that in no case could any premeditated criminality be found in connection with the affairs of the Merchants' National. When Vice President Drum and Cashier Collyer were notified of the nature of the several counts they both intimated very strongly and emphatically that the charges were all bosh. "How about the alleged false entry of promissory notes? they were asked. Both replied that it would appear upon the face of the indictment that the paper referred to was the renewal of old notes, which Mr. Collyer said was quite proper. It is alleged in the the indictments that most of this paper, which it is charged was falsely entered. was not given for any value received, and was therefore straw paper, the indictment further alleging that such false entry of such paper being made in most instances to deceive Bank Examiner Charles Clary. The only witnesses indorsed upon the indictments as appearing before the jury were Receiver Robert Wingate, of the Merchants' National, and E. J. Cooper, who was one of the principal bookkeepers. Mr. Cooper, the indictment alleges, made the alleged false entries of the alleged straw paper, and he did so for the officers who were indicted for the purpose of willfully, fraudulently and feloniously defrauding and working injury to the bank association, which had no knowledge of their nets. By the use of the alleged straw paper for the purpose of deceiving the bank examiner. it is understood, the officers were intent upon making him believe the bank was not in a condition which the alleged straw paper made it appear. Mr. Clary for a long time kept a very close watch of the bank and examined its condition frequently. Most of the notes were to run for ninety days, and the alleged false entries consisted of entering the notes in the book known as "Bith Discounted Registered.' This was done, it is alleged, when the truth was that the notes were not purchased or discounted by the bank, and such entry was therefore false and fraudu. lent. While the bonds were being prepared the rise and fall of the Merchant's bank. and subsequently the Merchants' National bank. of Tacoms. was discussed with the Indicted officers by a representative of the POST-INTELLIGENCER This bank was the oldest in the city, and was the second national bank here. It was made a national bank, with $50,000 capital, in May, 1884 In the "boom" days, back in the old directors' room and the larger room back of it, which was used for general assembly purposes, many of the biggest and most promising schemes this city ever dreamed of were planned and fostered. Those who participated were designated at the high tide point of the boom in 1889 as the "Merchant National bank crowd. There was another crowd known as the "Tacoma National bank crowd.' The two "erowds" never mixed Many still believe the rivalry of those boom days never died out, and vanished only with the death of the fallen bank Some, indeed. hold that this rivalry killed she Merchants' National, inasmuch as the clearing house failed to help the Mer chants' National when It was troubled with the death raitle. Right here an ex planation is needed. The Tacoma clear Ing house agreed to protect the depositors of the Merchants' National. It never agreed in so many words to meet the demands of the correspondents of the fail ing bank. On the last day of last May the clearing house association agreed to prosect the depositors, and on that day Cash for Collyer said: "The run was not marked I was in the paying teller's cage during all that noon hour, and was surprised at the quiet condition of affairs believed the storm
Click image to open full size in new tab
BANKERS ON TRIAL. Tacoma, August 14.-The trial of Walter J. Thompson, Henry Drum, Samuel Collier, and R. J. Davis, former officers of the Merchants' National Bank, now in the receivers' hands was begun today in the federal court before Judge Gilbert. They are charged with misappropriating funds and credits of the bank, and making false entries in the books. A jury was secured, and several witnesses examined. The defendants have retained several of the most prominent legal firms in the state.
Click image to open full size in new tab
Merchanis' Bank to Pay 50 Centa. TACOMA, Sept. 2.-[Special.]-Receiver Wingate, of the Merchants' National bank, says it is about certain now that the bank will be able to pay 50 cents on the dollar. Because the price of iron and steel has advanced Mr. Wingate believes the return of good times absolutely certain.
Click image to open full size in new tab
A HEAVY JUDGMENT Nelson Bennett, of Tacoma, confessed judgment for $80,000 in a suit brought by Robt. Wingate, as receiver of the Merchant's National Bank, last week.
Click image to open full size in new tab
There were filed for record Saturday 10 deeds, the considerations aggregating $6,404. Following is the list as furnished by the Daily Bulletin, room 13 Occidental block: R. M. Range et ux, to Reid W. Range, lots 9 to 11, block 6, Central ad, East Seattle, December 4, $150. Same to Rose W. Range, lots 7 and 8, block 5, Central ad, East Seattle, December 4, $100. William H. Adams to Robert Wingate, receiver Merchants' National bank, Ta-
Click image to open full size in new tab
The Tacoma Hotel's Debts. Tacoma. Feb. 14.-Spectal.-The case of Receiver Wingate, of the Merchants' National bank, against Nelson Bennett, Col. Heustis and the Tacoma Hotel Company, is on trial before Judge Stallcup. Wingate wants a receiver appointed for the hotel and a chattel mortgage to Heustis for $27,000 set aside. Mr. Bennett occupied the witness stand all day today. He testified that the company owes him $200,000, which was used in building the annex and in paying off part of the mortgage indebtedness.
Click image to open full size in new tab
ORDERED TO SELL BANK PROPERTY Receiver of the Tacoma Merchants' National to Realize on Assets. Tacoma, Feb. 16.-The receiver of the Merchants' National bank was today ordered by the court to sell all of the property of the bank within the next 30 days. The bank building and a tract of land in Skagit county may be reserved if the bids, in the receiver's judgment, are not high enough.