3280. Union Trust Company (Sioux City, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
June 28, 1893
Location
Sioux City, Iowa (42.500, -96.400)

Metadata

Model
gpt-5-mini
Short Digest
3c4b8d90e66b7468

Response Measures

None

Description

Contemporary reports (June–Aug 1893) state the Union Trust Company of Sioux City 'failed' or 'suspended' with liabilities ~ $350,000 and assets ~$450,000; receivers were sought/appointed and its secretary/president E. M. Donaldson fled amid charges of embezzlement (~$600,000). No article describes a depositor run prior to suspension—cause is bank-specific malfeasance leading to suspension and receivership (permanent closure).

Events (4)
1. June 28, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Company failed after embezzlement/defalcation by E. M. Donaldson and bad management of affiliated banks; insolvency revealed in June 1893.
Newspaper Excerpt
SIOUX CITY, June 28.-The failure of the Union Trust Company was announced to-day.
Source
newspapers
2. June 29, 1893 Other
Newspaper Excerpt
The Union Trust company ... has failed, with liabilities of $350,000. The assets are $450,000. An application has been made for a receiver.
Source
newspapers
3. August 21, 1893 Other
Newspaper Excerpt
E. M. Donaldson ... started the Union Trust Company of Sioux City... The Union Trust Company was among the first financial institutions to go under ... Doughty says ... shows a deficit of at least $600,000.
Source
newspapers
4. September 19, 1893 Receivership
Newspaper Excerpt
An action was begun yesterday to have a receiver appointed for the Union Trust Company of Sioux City, Iowa.
Source
newspapers

Newspaper Articles (21)
1. June 29, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 29, 1893

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LOOKS MUCH BETTER There Is an Easier Feeling Manifested in Wall Street. Nevertheless the Depression Is Such That Many Mercantile Concerns Have Gone Under. Special to THE MORNING CALL. NEW YORK, June 28.-Bankers reported an easier condition in the money market this morning. There were no extraordinary shipments, and the only thing which was noticed out of the ordinary was the large number of demands for rediscounts from all over the country. The Clearing-house loan committee issued $1,330,000 of certificates, making the total amount issued $6,360,000. The subtreasury transferred $115,000 to San Francisco by telegraph in return for gold deposited. The free gold in the treasury to-day is just $96,000,000. There is much talk in Wail street as to the reasons which have prevented the President calling Congress together immediately. An intimate friend of the Secretary of the Treasury, in conversation with a reporter, said that according to Carlisle a canvass of the members of Congress two months ago on behalf of Cleveland resulted in learning that there was a majority in the House in favor of the repeal of the Sherman law, but in the Senate there was a majority of twenty the other way. It was believed, however, that enough Senators, eleven at least, could be converted before September so as to enable the repeal of the measure to pass the upper House. C. P. Huntington said this afternoon that he had not sold $10,000,000 or any other amount of bonds abroad. He sold some small lots in New York-odds and ends, so to speak. The present is no time to sell bonds. CLEVELAND, June 28.-On account of the great depression in trade, one after another of the great iron mines in the upper Michigan peninsula are shutting down indefinitely. These mines employ thousands of men, and practically are the sole support of whole towns in the peninsula. A protracted cessation of work is bound to result in widespread suffering. It will also have a very bad effect on vessels in the ore-carrying trade. PHILADELPHIA, June 28.-The depressing effect on the present condition of the cotton trade is making itself felt in Frankford and Kensington. The managers of mills are trying to avert the suspension of the entire plant by laying off the employes of one room at one time, hoping that trade will take a boom, but two large plants in Frankford have finally decided to shut down one month at least; and the others in Kensington; it is rumored, will soon follow example. The mills first to succumb are the Calcutta and Berkshire, both operated by the Berkshire Mill Company and employing 600 hands. BEDFORD, Ind., June 28.-The Bedford Stone Quarries Company, the largest producers of eolitic limestone in the world, have made an assignment to William L. Brewogle, one of the company's largest creditors. Inability to realize in time to meet maturing obligations is given as the cause. A bond of $400,000 is required. LOCKHAVEN, Pa., June 28.-The State Bank of Lockhaven has gone into liquidation. ONTARIO, Cal., June 28.-AttorneyGeneral Hart and Commissioners Gerberding and Dunsmore examined the Citizens' Bank to-day and found it perfectly solvent. It will open for business to-morrow. SIOUX CITY, June 28.-The failure of the Union Trust Company was announced to-day. The liabilities are $350,000 and assets $450,000. The stock is largely held in New Hampshire. It is stated that the obligations can be fully satisfied from the assets.

2. June 30, 1893 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, June 30, 1893

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FAILURES. SIOUX CITY, Ia.. June 29.-The Union Trust company, the headquarters of which were recently moved to Kansas City, has failed, with liabilities of $350,000. The assets are $450,000. The stock of the company is largely held in New Hampshire. An application has been made for a receiver. RICHMOND, Ind., June 29.- - Paynes, Spencer & Co., manufacturers of school and church furniture, have assigned. The failure was caused by the failure of the Merlin Furniture factory of St. Louis. The liabilities are $50,000, and the assets $68,000.

3. July 6, 1893 The State Republican Jefferson City, MO
Article from The State Republican, July 6, 1893

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WEST AND SOUTH. BECAUSE she refused to live with him, Jacob Lyons, a farmer at Ottawa. O., fatally shot his wife and then killed himself. IN state convention at Cleveland the Ohio prohibitionists nominated the following ticket: For governor, Rev. Gideon P. Machlin, of Germantown: lieutenant governor, S. H. Ellis, of Warren county; treasurer, Abram Ludlow, of Springfield; attorney general, S. E. Young, of Portage: supreme court judge, J. A. Gallagher, of Bellaire. The platform adopted favors absolute destruction of the liquor traffic, indorses woman suffrage, the granting of liberal pensions, the revision of the immigration laws and the election of president and United States senators by direct vote of the people. ON trial at Atlanta, Ga.. for the murder of her two sisters. Julia Force was declared not guilty and will be confined in an insane asylum. FLAMES swept away the principal part of the town of Lexington. O. T., and two men perished in the flames. AT Fairfield, Ia., Charles Wilson shot his wife fatally and then fatally shot himself. Domestic trouble was the cause. THE cabinet of the Epworth league of the United States adopted a resolution at a meeting in Cleveland which instructs the withdrawal of the league's exhibit at the world's fair because of Sunday opening. BURGLARS robbed the Hartly bank at Jericho, Mo., of $12,000. JAMES SHEAKLEY has been appointed governor of Alaska. THE death of ex-Congressman Wallace occurred at his home near Yorkville, S. C. He represented the state in the reconstructionist period. THE notorious burglar, Jim Ander son, who has committed crime in every large city in the state and always escaped conviction, was sentenced at Columbus, O., to five years' imprisonment. FIRE destroyed two squares of the business portion of Augusta, Mich. A RECEIVER was wanted for the Union Trust company of Sioux City, Ia., the liabilities being $350,000. NEAR Breckinridge, Tex., an attempt to hold up a train resulted in the killing of the fireman and capture of one of the bandits after a hard fight. THE wheat crop is a failure in thirty counties in the west of Kansas and Gov. Lewelling has been appealed to for relief. THE editor of the Augusta (Ga.) Evening News, W. H. Moore, dropped dead in his room. He had been on the street fifteen minutes previously. THE cashier of the City national bank of Brownwood, Tex., S. F. Walling, Jr., was arrested on the charge of embezzling $70,000 from the bank. MINING men met in Denver and decided to close all the smelters, mills and silver mines in Colorado until such time as silver is appreciated at its proper worth. AT St. Joseph, Mo., Ellsworth Goshen, aged 9 years, was sentenced to twelve years' imprisonment for wrecking a freight train

4. July 6, 1893 River Falls Journal River Falls, WI
Article from River Falls Journal, July 6, 1893

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WEST AND SOUTH. ON a bicycle H. H. Wyllie made the 1,000 miles from New York to Chicago in ten days and four hours. BERRY won the cowboy race to Chicago which was begun at Chadron, Neb. June 13, making the 1,040 miles in 13 days, 15 hours and 85 minutes-an average of 77 miles daily. WHILE attempting to escape from the prison at Folsom, Cal., three convicts were shot dead by guards. AT Edinburg, III., G. P. Harrington, a banker. of private THE American failed exchange for $200,000. bank Minneapolis, Mion., and the Second national bank of Ashland, Ky., closed their doors. THE failure was reported of the Bedford (Ind.) Stone Quarries company, the largest producers of oolitic limestone in the world. IN Chicago the Illinois Fuel company, with assets of $150,000 and liabilities of $100,000, has been driven to the wall. THE monetary stringency caused the assignment in Cincinnati of Bennekamp Brothers, furniture manufacturers, and the Louis Snyder's Sons Paper company. A TRAIN struck a buggy in which were Mrs. Inholsen and three children in Chicago and two of the children were killed and the other fatally injured. THE lives of Mrs. Catherine Neumann and her three children, aged 20, 15 and 12 years respectively, were lost in flames that destroyed their home in Saginaw, Mich. JOHN HUDSON died near Battle Creek, Mich., aged 101 years. AT Oakley, Kan., a tornado destroyed thousands of dollars' worth of propertv. A strip of country 1 mile wide and 6 miles long was swept clean, every building in its path being torn into kindling wood. FIRE wiped out the business portion of Union City, Ind. BECAUSE she refused to live with him, Jacob Lyons, a farmer at Ottawa, O., fatally shot his wife and then killed himself. IN state convention at Cleveland the Ohio prohibitionists nominated the folFor eon lowing P. Machlin, ticket: of Germantown: governor, Rev. lieu- Gidtenant governor, S. H. Ellis, of Warren county: treasurer, Abram Ludlow, of Springfield; attorney general, S. E. Young. of Portage: supreme court judge, J. A. Gallagher, of Bellaire. The platform adopted favors absolute destruction of the liquor traffic, indorses woman suffrage, the granting of liberal pensions, the revision of the immigration laws and the election of president and United States senators by direct vote of the people. ON trial at Atlanta, Ga., for the murder of her two sisters Julia Force was declared not guilty and will be confined in an insane asylum. FLAMES swept away the principal part of the town of Lexington. O. T., and two men perished in the flames. AT Fairfield, la., Charles Wilson shot his wife fatally and then fatally shot himself. Domestic trouble was the cause. THE cabinet of the Epworth league of the United States adopted a resolution at a meeting in Cleveland which instructs the withdrawal of the league's exhibit at the world's fair because of Sunday opening. BURGLARS robbed the Hartly bank at Jericho, Mo., of $12,000. JAMES SHEAKLEY has been appointed governor of Alaska. THE death of ex-Congressman Wallace occurred at his home near Yorkville, S. C He represented the state in the reconstruction g period. THE notorious burglar. Jim Anderson, who has committed crime in every in the state eswas at caped large city conviction, and sentenced always Columbus, O., to five years' imprisonment. FIRE destroyed two squares of the business portion of Augusta, Mich. A RECEIVER was wanted for the Union Trust company of Sioux City, Ia., the liabilities being $350,000.

5. July 7, 1893 The Times Owosso, MI
Article from The Times, July 7, 1893

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The News Condensed. Important Intelligence From All Parts. DOMESTIC. PIERRA & Co., shipping York, failed commission F.G. merchants in New $100,000. for of gas in the Green Pa., AN explosion at Mount Carmel, inkilled Ridge one colliery man instantly and fatally jured two listening others. to an address by Duluth, Prof. AFTER Sims 2,000 citizens of of Walter resolved that the presence menMgr. Minn.. Satolli in this country was a ace to thirty their counties liberties. in the west failure of Kan- and IN wheat crop is a to for Gov. sas the Lewelling has been appealed relief. WILLIAM H. MOORE, editor of dropped the Au(Ga.) Evening News, been on the gusta in his room. He had dead fifteen minutes previously. street STATUE of Admiral Faragut was A in Marine park, Boston. veiled ANDERSON, a notorious every burglar, large JIM has committed crime in escaped who in the state and always at Columbus, city was sentenced portion conviction, O., to five years imprisonment. business SQUARES of the over. Two Mich., were burned New York of Augusta, attorney general of and game THE the duty of all fish Sunprotectors says it is to prohibit fishing on day. WILSON shot his wife fatally fatally shot CHARLES Ia., and then the himself. at Fairfield, Domestic trouble was cause. Hartly bank at Jericho, Mo. was THE by burglars of $12,000. post robbed number of presidential THE the United States is now 3,337, the offices in aggregate salaries paid to was postmasters and the for the past year $5,665,000. THE doors of the State bank of Lockhaven, Union Pa., were Trust closed. company of with Sioux liaCity, THE Ia., asked for a receiver, bilities of convention $350,000. in Saratoga, N. Y., B. AT the republican clubs George was Green, of state mayor of Binghamton, chosen president. a million Columbian the souve- mint NEARLY dollars were held at opinion of nir half owing to the more Attorney in Philadelphia General Olney to that the no Illinois corporation money ought known to be paid as the "World's Columbian market Exposition." for silver in New by York the THE completely demoralized in India. stoppage was of free silver coinage than fifteen SEAMAN, for more O., was JOHN treasurer of Willshire, amount of said years to be a defaulter to the $5,000. W. STAGE, of Painesville, certifi- O., GEORGE missing, together with and a a certiwas deposit for $10,080 to the fied cate check of for $1,500 belonging city. SECRETARY REYNOLDS, that of ASSISTANT interior department, says wounded the who ministered to entitled to soldiers women during the war are pensions. mining men all met the in REPRESENTATIVE and decided to close mines in Coluntil smelters, Denver mills such and time silver as silver is appreorado ciated at its proper GRANT worth. and Mrs. Jefferson -Hudson. MRS. GEN. at Cranston-on-the-Hu Davis met and enjoyed a long talk and upon their N.Y., of their own reminiscences active and eventful careers. husbands' GOSHEN, aged 9 Mo. years to ELLSWORTH at St. Joseph, wrecktwelve was sentenced years imprisonment for ing a freight train. the OWING to faculty trouble of between the state normal entire students and at Terre Haute, Ind., the and school 1893 refused to graduate declass the commencement of exercises were clared off. Women's Christian Temperance against THE has inaugurated a crusade Kan. union the saloons in Fort Scott, N. DARTMOUTH college at Hanover, the held its 123d commencement, sixty. H., class numbering graduating were caught at Owensthe of boro, THREE Ky., plundering tramps by employes the freight the Texas cars and railway the thieves were strung up of one given and twenty-five lashes. HARVEY, alias Arling, men JOHN noted expert confidence country, the most all-around crooks in Y. the and Niagara Falls, N. died at convention of the Ep THE met in Cleveland McKinley worth league annual and Mayor Blee and made Gov. speeches of welcome. cents in cash wheat in A DROP of two the price to the lowest and point Chicago for took many years, sixty-two one-fourth accordance cents. with Attorney worth General of Olney's IN opinion still the in $570,880 the Philadelphia mint souvenir will coins not be paid to the directors the DR. world's C. E. SIMMONS, fair. for of professional New York, has atbeen given on $40,000 Samuel J. Tilden for eight tendance He sued for $143,300. years. of Naperville, Ill., hanged the Gov. CITIZENS Altgeld in effigy for pardoning Chicago Anarchists. BUCCIERI was hanged Sister at PIETRO for murdering on June 23, 1892. Hildaberta Reading, Pa., in St. Joseph's hospital in EuTHE reappearance of cholera alarm among rope does not cause in any Washington, and they treasury express officials the opinion that it will not reach this JULIUS country. COLLINS, of to Oak herself Cliff. MRS. administered poison Poverty and Tex., little children. deed. and three husband caused the barn WHITE and outhouses of Henry Queer, a dissipated CAPS burned the dwelling, a

6. August 22, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, August 22, 1893

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SHORT IN THEIR ACCOUNTS. RETURN OF THREE MEN ANXIOUSLY AWAITED. An Iowa Bank Wrecker Gets Away With About Six Hundred Thousand Dollars. Special to the RECORD-UNION. KANSAS CITY, Aug. 21.-Henry Woolmer, attorney for Special Bank Examiner Latimer, acting as special agent of the First National Bank of Marion. Kansas, filed attachments to-day against George D. Galbraith, Special Bank Examiner in charge of the National Bank of Kansas City, the National Bank of Commerce and the American National Bank, by E. M. Donaldson, President of the First National Bank of Marion, Kansas. It is charged that Donaldson secured loans from the bank of which he was President for personal use, without adequate security. He has since disappeared, and the bank is short $23,013. James Doughty of Sioux City arrived to-day, and after a conference with Attorney Wallman and Bank Examiner Latimer, swore out a warrant for Donaldson's ..rrest for alleged embezzlement, misappropriation and forgery. The facts told by Mr. Doughty made Donaldson's embezzlement from the Marion Bank appear simply a drop in the bucket compared with the ex-banker's transactions in Iowa. Donaldson, in the eighties, besides owning a majority of the stock of the First National Bank of Marion, Kansas, controlled two State banks. His transactions, through them, were not successful, and in 1886 he closed out two small banks, and, securing considerable money from the Marion Bank, started the Union Trust Company of Sioux City, Iowa. As feeders for it he established a chain of banks in Iowa, eleven in number. His ventures, however, did not develop according to expectations, and from subsequent events it became apparent that he was determined to realize what cash he could and leave the country. Accordingly, last winter he opened a branch office hereand disposed of a large amount of securities and assets of the town concern. The Union Trust Company was among the first financial institutions to go under when the financial difficulties began last spring. With it went down the eleven lowa banks. Doughty, who was interested in the Union Trust Company, says an examination of that company's affairs and the affairs of the eleven Iowa banks shows a deficit of at least $600,000. LEFT FOR PARTS UNKNOWN, OGDEN, Aug. 21.-To-day a warrant was issued for the arrest of Alfred H. Nelson, formerly Secretary and Manager of the Ogden Buildings and Savings Association of this city, for embezzlement of funds of the company. His estimated shortage is about $13,000. Nelson and family left for parts unknown early this morning. FATHER AND SONS ARRESTED. INDIANAPOLIS, Aug. 21.-This afternoon Theodore P. Haughey, President of the wrecked Indianapolis National Bank, was arrested at his home near this city, on a warrant sworn out by Receiver Hawkins, charging him with embezzlement and misapplication of the funds and credits of the bank. Simultaneously with the arrest of Haughey. Federal officers arrested his son, Schuyler C. Haughey, President of the Indianapolis Curled Hair Works and Indianapolis Glue Works, and later Francis A. Coffin, President of the Indianapolis Cabinet Company; Percival Coffin, Vice-President of the company, and Albert T. Reed, Treasurer of the same concern. Young Haughey, Coffin and Reed are charged with having aided and abetted the elder Haughey in embezzlements and misappropriation of credits charged against him. The arrested men were taken before United States Commissioner Van Buren, who released them on bonds

7. August 22, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, August 22, 1893

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SHORT IN THEIR ACCOUNTS. RETURN OF THREE MEN ANXIOUSLY AWAITED. An Iowa Bank Wrecker Gets Away With About Six Hundred Thousand Dollars. Special to the RECORD-UNIONAL KANSAS City, Aug. 21.-Henry Woolmer, attorney for Special Bank Examiner Latimer, acting as special agent of the First National Bank of Marion. Kansas, filed attachments to-day against George D. Galbraith, Special Bank Examiner in charge of the National Bank of Kansas City, the National Bank of Commerce and the American National Bank, by E. M. Donaldson, President of the First National Bank of Marion, Kansas. It is charged that Donaldson secured loans from the bank of which he was President for personal use, without adequate security. He has since disappeared, and the bank is short $23,013. James Doughty of Sioux City arrived and after a conference with AttorWallman and Bank to-day, ney Examiner Donaldson's Latimer, swore outa warrant for Arrest for alleged embezzlement, misappropriation and forgery. The facts told by Mr. Doughty made Donaldson's embezzlement from the Marion Bank appear simply a drop in the tucket compared with the ex-banker's transactions in Iowa. Donaldson, in the eighties, besides owning a majority of of the stock of the First National Bank Marion, Kansas, controlled two State banks. His transactions, through them, were not successful, and in 1886 he closed out two small banks, and, securing considerable money from the Marion Bank, started the Uuion Trust Company of Sioux City, Iowa. As feeders for it he established a chain of banks in Iowa, eleven in number. His ventures, however, did not develop according to expectations, and from subsequent events it became apparent that he was determined to realize what cash he could and leave the country. Accordingly, last winter he opened a branch office here and disposed of a large amount of securities and assets of the town concern. The Union Trust Company was among the first financial institutions to under when the financial difficulties began last spring. With it went down the eleven lowa banks. Doughty, who in the Union Trust Coman examination company, was interested says of that pany's affairs and the affairs of the eleven Iowa banks shows a deficit of at least $600,000. LEFT FOR PARTS UNKNOWN. OGDEN, Aug. 21.-To-day a warrant was issued for the arrest of Alfred H. Nelson, formerly Secretary and Manager of the Ogden Buildings and Savings Associaof this city, for embezzlement of of the tion funds company. His Nelson estimated and shortage is about $13,000. family left for parts unknown early this morning. FATHER AND SONS ARRESTED. INDIANAPOLIS, Aug. 21.-This afternoon Theodore P. Haughey, President of the wrecked Indianapolis National Bank, at his home near this city, sworn out him and of charging misapplication the on ment Hawkins, was a arrested warrant Simultaneously with by embezzle- Receiver funds and credits of the bank. with the arrest of Haughey. Federal officers arrested his son, Schuyler C. Haughey, President of the Indianapolis Curled Hair Works and Indianapolis Glue Works, and later Francis A. Coffin, President of the Indianapolis Cabinet Company; Percival Coffin, Vice-President of the company, and Albert T. Reed, of the same concern. Coffin and Reed are Treasurer Haughey, the charged Young elder with having aided and abetted Haughey in embezzlements and misappropriation of credits charged against arrested men were taken beStates Van fore him. United The Commissioner bonds Buren. who released them on

8. August 22, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 22, 1893

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Donaldson, president of the First National bank, of Marion, Kan. It is charged that Donaldson secured loans from the bank, of which he is president, for personal use without adequate security. He has since disappeared and the bank is short $23,013. James Doughty, of Sioux City, arrived today and after a conference with Attorney Wollman and Bank Examiner Latimer swore out a warrant for Donaldson's arrest, alleging embezzlement, misappropriation of funds and forgery. The facts as told by Mr. Doughty make Donaldson's embezzlement from the Marion bank appear simply a drop in the bucket compared with the ex-banker's transactions in Iowa, Donaldson, who is in the eighties, besides owning a majority of the stock of the First National bank of Kansas City, controlled two state banks. His transactions through them were not successful, and in 1886 he closed out the two small banks and, securing considerable money from the Marion bank, started the Union Trust Company, of Sioux City, Ia. As feeders for it he established a chain of banks in Iowa, eleven in number. His ventures, however, did not develop according to his expectations, and from subsequent events it becomes apparent that he determined to realize what cash he could and leave the country. Accordingly, last winter he opened a branch office here and disposed of a large amount of the securities and assets of the Iowa concerns. The Union Trust Company was among the first financial institutions to go under when the financial difficulties began last spring. With it went down the eleven Iowa banks. Doughty, who was interested in the Union Trust Company, says the examination of the company's affairs and the affairs of the eleven Iowa banks shows a deficit of at least $600,000. # Indianapolis Bank-Wreckers Arrested. INDIANAPOLIS, Aug. 21. -This afternoon Theodore P. Haughey, president of the wrecked Indianapolis National bank, was arrested at his home near this city on a warrant sworn out by Receiver Hawkins, charging him with embezzlement and misapplication of funds and credits of the bank. Simultaneously with the arrest of Haughey Federal officers arrested his son, Schuyler C. Haughey, president of the Indianapolis Curled Hair Works and Indianapolis Glue Works, and later Francis A. Coffin, president of the Indianapolis Cabinet Company; Percival Coffin, vice president of the company and Albert T. Reed, treasurer of the same concern. Young Haughey, Coffin and Reed are charged with having aided and abetted the elder Haughey in the embezzlements and misappropriations charged against him. The arrested men were taken before United States Commissioner Van Buren, who released them on bonds furnished as follows: Theodore P. Haughey, $10,000; Schuyler C. Haughey, $10,000; Francis A. Coffin, $5,000; Percival Coffin, $5,000, and Albert T. Reed, $5,000.

9. August 24, 1893 Grant County Herald Lancaster, WI
Article from Grant County Herald, August 24, 1893

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STOLE HEAPS OF MONEY. Flight of E. M. Donaldson, Whose Career Is Very Checkered. KANSAS CITY, Mo., Aug. 22.-From school-teacher to Napoleon of finance and thence to a defaulter is the story of E. M. Donaldson, late of this city, secretary and manager of the Union Trust company of Sioux City, la., president of the First national bank of Marion, Kan., and of eleven Iowa banks, who fled Tuesday, presumably sto Mexico, and left behind him a record as an artistic looter of banks that is seldom surpassed All of the institutions he was connected with are in receivers hands. He is supposed to have taken with him about $800,000 of other people's money. From the Union Trust company alone he took $600,000. From the Kansas and Iowa banks $200,000 is a conservative estimate of his stealings. Forgery is one of the many charges against him, and a deputy marshal is now on his trail in Mexico armed with a warrant for his arrest for erasing his indorsement to a note for $5,000.

10. August 25, 1893 The Kinsley Graphic Kinsley, KS
Article from The Kinsley Graphic, August 25, 1893

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THE LATFST. THE world's -fair directory has requested Theodore Thomas to resume charge of the music. THE president has issued his proclamation opening the Cherokee strip to settlement at the hour of 12 o'clock noon, central standard time, Saturday, September 16. THE American Bankers' association has issued a circular calling upon bankers to sign a petition for repeal of the Sherman law and to make energetic effort to influence congress. WALTER SANGER, the bicycle champion, has been expelled from the Milwaukee club for refusing to appear in a race after being advertised. DIXON, the colored pugilist so often successful in light-weight contests, was defeated by Plimmer in a late contest at Madison square garden, New York. JAPAN has made a demand upon the provisional government of Hawaii for suffrage for the Japanese. VOORHEES occupied the attention of the senate on the 22d with a speech defending the administration on the silver question. The discussion continued in the house, at times becoming monotonous. THERE is a report that China will not retaliate for the Geary law until after the next session of congress THE national encampment of the Farmers' alliance opened at Mt. Gretna, Pa., on the 22nd with 10,000 present. An address was delivered by Hon. Ben Terrell, of Texas. CROP bulletins of Illinois and Iowa say that recent rains have been greatly beneficial to corn, though more is needed yet, especially in portions of Illinois. Apples and potatoes will be short in Illinois. AT Caldwell, Id., the house of a family named Brookshire, lately from Missouri, was burned. Two children aged 4 and 2 years were burned to death. THE private bank of J. N. Knapp & Co., of Cedar Falls, Ia., failed to open its doors. THREE men were killed and several seriously hurt by the murderous folly of a militiaman in a track trouble at Gilberton, Pa. E.M. DONALDSON, president of the Marion (Kan.) First national bank, also of a dozen lowa banks and secretary of the Union Trust Co., Sioux City, all suspended institutions, is a fugitive, charged with forgery and embezzlement of over $600,000. THE railroads of South Carolina have won a victory over the dispensary law of that state.

11. August 25, 1893 Highland Recorder Monterey, VA
Article from Highland Recorder, August 25, 1893

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Stole $600,000. KANSAS CITY, Mo., Aug. 21.--E. M. Donaldson, late of Kansas City, secretery of the lately suspended Union Trust company of Sioux City Io., president of the defunct First National Bank of Marion, Kas., and general speculator, now known as a defaulter and fugitive. is pronounced by those who knew him best as perhaps the cleverest man with tongue and pen who ever struck Kansas City. Donaldson's tongue and pen have served him well, at the expense of the people of many States. He has robbed the Marion Bank, accor ding to the report of the examiner, of $23,000. This, however, is but a drop in the bucket. The receiver of the trust company, of which Donaldson was the head and front, says that he has gobbled up at least $600,000 in cash and the reciver believes that he has fled with fully this amount. Forgery is only oneof many charges against him, and for this a warrant has been issued in this city and a Deputy Marshal, it is stated, is now in Mexico for the purpose of placing him under arrest.

12. August 26, 1893 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, August 26, 1893

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THE WEST. THEGerman-American national bank, of St. Paul, which suspended a few days ago, will resume business just as soon as the necessary formalities can be complied with. ST. PAUL and Minneapolis publishers are talking of reduced prices for typesetting. AN express car containing a consignment of gold for Chicago was wrecked on the Fort Wayne, at Whiting, Ind., and the coin was scattered in the road but was all saved. IT was reported that soldiers and a band of sooners had fought on the strip and that three of the sooners had been killed. THE other night an unarmed body of laboring men waited on the Chinese restaurants in Selma, Cal., and deported the keepers, sending them out of town quietly and using no violence. GEORGE A. DEAN, an actor in Denman Thompson's "Old Homestead" company, dropped dead of apoplexy in Chicago. Dean, who was 65 years old. has played the part of Cy Prime in the company ever since the play was first put on the stage. THIEVES broke into the rooms of the republican city committee, of Indianapolis, and stole all the precinct poll books for one ward and other valuable information. By an explosion in the boiler-room of a wire works at Joliet, Ill., restarting has been delayed, one man was killed and two fatally hurt. IN order that they may not adjoin any of the Cherokee allotments the county seats and land offices in the strip have all been moved. IT is said at Denver, Col., that Will R. Perry gutted the county funds to the amount of $22,000 before he absconded. A REPORT has it that Treasurer McCurtain, of the Choctaw nation, has failed with $500,000 of the lease money. THE world's fair directory has requested Theodore Thomas to resume charge of the music. WALTER SANGER, the bicycle champion, has been expelled from the Milwaukee club for refusing to appear in a race after being advertised. CROP bulletins of Illinois and Iowa say that recent rains have been greatly beneficial to corn, though more is needed yet, especially in portions of Illinois. Apples and potatoes will be short in Illinois. AT Caldwell, Id., the house of a family named Brookshire, lately from Missouri, was burned. Two children aged 4 and 2 years were burned to death. THE private bank of J. N. Knapp & Co., of Cedar Falls, Ia., failed to open its doors. E. M. DONALDSON. president of the Marion (Kan.) First national bank, also of a dozen Iowa banks and secretary of the Union Trust Co., Sioux City, all suspended institutions, is a fugitive, charged with forgery and embezzlement of over $600,000. THE Butlen-Mueller Co., Milwaukee, dealer in lumber, has assigned. THE Indiana Manufacturing Co., of Peru, Ind., one of the largest woodworking establishments in the west, made a general assignment of 10 per cent. among its employes. THE People's bank, of St. Paul, Minn., which closed August 4 in order to protect its creditors from a prospective run, although at that time perfectly solvent and able to pay all depositors, has reopened. CONSTABLE JOE JONES was instantly killed at Paul's Valley, I. T., by John Stevenson, whom he was trying to arrest. THE Ohio Stone Co., of Cleveland, went into the hands of a receiver. Assets about $300,000 and liabilities $250,000. THEODORE HAUGHEY, his son Schuyler Haughey and three others asso-v ciated with them, have been arrested at Indianapolis charged with wrecking the Indianapolis national bank. The arrests were made by the United States

13. August 30, 1893 The Vermont Watchman Montpelier, VT
Article from The Vermont Watchman, August 30, 1893

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# DOMESTIC IN BRIEF. THE Merrimack mills of Lowell, Mass., employing 2,500 hands, started up last Monday morning. ACTOR CURTIS has been found "not guilty" of murdering a policeman in San Francisco over a year ago. LUCIUS TUTTLE, vice-president of the New York, New Haven & Hartford railroad, has been elected president of the Boston & Maine, to take effect October 11 next. THE suit involving 2,000,000 acres of land in Minnesota between the St. Paul & Northern Pacific and St. Paul, Minneapolis & Manitoba railroads has been decided in favor of the former by Judge Williams of St. Paul. E. M. DONALDSON, president of the defunct Union Trust Company of Sioux City, Ia., has fled the country. He is said to be a defaulter to the amount of $600,000, and is believed to have most of this money with him. It is thought he is in Mexico. THE Michigan Peninsular car shops at Detroit, Mich., have shut down for three months. The directors have voted to lay off all office employes for three months without pay, and lay off all superintendents and chiefs of departments for the same period on half pay. An official of the company says contracts could be secured easily enough, but that railroad companies are not able to get money to pay for cars, and the shops cannot run on credit. THE storm that swept over New York and a portion of New England last week Thursday night was the most destructive of any in many years. More than 300 of the stately elms in New Haven, Conn., were torn up by the roots or broken off. The damage in the harbor was the greatest known for years. The oyster beds have especially suffered. They are thought to be completely banked in mud by the action of the wind and waves and may prove a total loss. If so, the money damage will be many hundreds of thousands of dollars. In the vicinity of the city hall park, New York, the havoc wrought was especially severe. Limbs were torn from trees, and many buildings were unroofed. The twitter of the sparrows was hushed, for hundreds of them lay dying or dead. It was not that they had been struck by lightning, but that roused from their slumber in the dead of night, they had scarce time to take their heads from beneath their wings when the pitiless rain and wind combined tumbled them from their perch and they fell dazed to the grass beneath. There they lay trembling in fear until they became soaked completely through and died.

14. August 31, 1893 The Farmers' Union Memphis, MO
Article from The Farmers' Union, August 31, 1893

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CRIME AND CASUALTY. -William Myles, a Cincinnati bank was drowned near Thousand Island Pa in the St. Lawrence River, his yacht be run down by a steamboat. -New York City and vicinity was visi by a terrific storm. -Recruiting officers say that the previ 1ng hard times are driving a large num of men to enlist in the army. There now only 154 vacancies, while usually army is about three thousand short of maximum limit of 25,000. -William Highfield. one of the wi caps who brutally whipped William Da and his wife at Jasper, Ind. has been s tenced to two years' imprisonment and pay a fine of $10. At Gilberton. Pa. the tearing up of Schuylkill Traction Company's tra Monday night by the borough officials sulted most disastrously When the co pany officials heard of the action of Gilberton people they immediately sen force of men to try and effect an amica settlement. In the car were a number men taking on at Girardville, member the national guard, who had with 11 rifles belonging to the company. WI the railway officials were engaged in e versing with the borough officials some the crowd taunted the men on board car and called out: "Where is the Gira ville militia?" A man named J Briggs, of Girardville. step out and said, "liere we al accompanying his salutation with oath. and leveling his rifle fired into crowd. killing Richard Parfitt, aged a spectator. This enraged the people : stones were fired: shots from the car came general and for a while a most 1 rifle battle ensued. Chief Amore trie subdue the trouble and while in the ac stopping his men was shot in the bre and may die. It is supposed he was 9 by one of his own men. The battle ra for an hour or more until the cooler-he ed people of Gilberton prevailed upon crowd to disperse, and the dead and jured were then looked after. Five " wounded. When the trouble had quie down Briggs escaped, and, running tow Mahanoy, hid in a barn. but was captu and. together with Arthur Wiville. als member of the Girardville militia. taken to the Pottsville jail -E. U. Donaldson, late of Kansas C Secretary of the Union Trust Company Sioux City, Iowa. President of the F National Bank of Marion. Kan., and eleven Iowa banks, has fled, probably Mexico According to the claims of receivers and assignees of the different stitutions with which he was connected has taken $800,000 with him. -The band of thieves that has been erating in and about Puebla, Mexico. several months are becoming SO bold 1 they are now stealing the rails off the tr of the Mexican Interoceanic Railre Two of the culprits have just been arres in the act of carrying of the rails. : crime is punishable with death in Mex -Missouri regulators took a 14-yeargirl from her home. near Warrensb and administered a whipping. - At Bearden. Ark. the house of Al ham Jones, a negro, was blown up , dynamite Jones and his wife and el are probably fatally hurt. Sources, P. F. 1., is a rendezvous American and Canadian fshermen. an very bitter feeling prevails between men of the respective fleets The of night a fierce fight took place in the stre in which Patrick Marr. of the Glouce schocner Eliza Parkhurst. was stabbe the arm and back and probably fat wounded and another sailor wass truel

15. August 31, 1893 The Sun New York, NY
Article from The Sun, August 31, 1893

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BANKERS UNDER A CLOUD. One Gives Himself Up and Two Others Are Fugitives. CITY OF MEXICO. Aug. 30.-E M. Donaldson. President of the defunct First National Bank of Marion. Kan.. and Secretary of the suspended Union Trust Company of Sioux City, Ia. who is alleged to be a defaulter to the amount of $600.000, was in this city last week. He left on Sunday and his present whereabouts are unknown. MILWAUKEE. Aug. 30.-T. Day. President of the Plankinton Bank. who disappeared soon after the bank failed. and who has since been indicted for illegal banking and embezzlement. appeared in the Municipal Court this morning and pleaded not guilty. He was released on $15,000 bail. Mr. Day has spent most of his time at a Michigan health resort since he left Milwaukee. CHICAGO. Aug. 30.-Adam W. Jaeger. assignee for Conrad L. Niehoff. the insolvent banker. made a report in the County Court to-day which shows that the banker's cash account is short to the extent of $109.114. The assignee also says that $79,114 has been embezzled by Niehoff's sons, Frank J. and Otto E.. both of whom. together with their father. have left for parts unknown. Jaeger says that the books of the institution are in a bad condition, unposted. improperly and erroneously kept with footings forced. assets increased and liabilities decreased. Jaeger asked Judge Scales to accept his resignation as assignee.

16. September 1, 1893 The Iola Register Iola, KS
Article from The Iola Register, September 1, 1893

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THE WEST. WALTER SANGER, the bicycle champion, has been expelled from the Milwaukee club for refusing to appear in a race after being advertised. A REPORT has it that Treasurer McCurtain, of the Choctaw nation, has failed with $500,000 of the lease money. E. M. DONALDSON, president of the Marion (Kan.) First national bank, also of a dozen Iowa banks and secretary of the Union Trust Co., Sioux City, all suspended institutions, is a fugitive, charged with forgery and embezzlement of over $600,000. AT Caldwell, Id., the house of a family named Brookshire, lately from Missouri, was burned. Two children aged & and 2 years were burned to death. THE world's fair directory has requested Theodore Thomas to resume charge of the music. IT is said at Denver, Col., that Will R. Perry gutted the county funds to the amount of $22,000 before he absconded.

17. September 2, 1893 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, September 2, 1893

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Donaldson in Mexico. CITY OF MEXICO, Aug. 31.-M. Donaldson, president of the defunct First national bank of Marion, Kan., and secretary of the suspended Union Trust Co. of Sioux City, Ia., who is alleged to be a defaulter to the amount of $600,000, was in this city last week. He left on Sunday, and his present whereabouts are known,

18. September 3, 1893 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, September 3, 1893

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Neuralgic headaches promptly cured by Bromo-Seltzer-trial bottle 10 cents. BANKER DONALDSON. MARION, Kan., Sept. 2.-[Special.]-Mrs. E. M. Donaldson of Marion, Kan., wife of the alleged bank wrecker, requests the publication of the following: "E. M. Donaldson's friends will, in a few days, publish a full account of his relations with the various incorporations said to have been wrecked by him, and will be able to substantially prove that the grave charges brought against him are utterly false and groundless." The object in printing the above is to prepare the public for a statement in refutation of the charges recently brought against Mr. Donaldson. Mrs. Donaldson says that the fortheoming reply to the charges in question will be attested by Fred L. Frazer, cashier of the First National bank of Marion; James H. Doughty, receiver of the Union Trust company of Sioux City, Ia,; H. M. Whinney; cashier of the Ida Grove (Iowa) National bank. and other responsible men connected with the institutions Mr. Donaldson is accused of wrecking.

19. September 6, 1893 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, September 6, 1893

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THE NEWS EPITOMIZED. Eastern and Middle States. Six THOUSAND unemployed Hebrews filled the East Side streets in New York City with riot. Walhalla Hall was torn to pieces. The police had a hard day's work. Many arrests were made. THE Oliver Iron and Steel Company. Pittsburg, Penn., has passed into the hands of a receiver. THE yacht Vigilant won the first race for the Astor Cups. off Newport (R. I.) Harbor. The Jubilee was second, and the Colonia third. The Pilgrim was disabled. THE parade of firemen at Coney Island, New York, was reviewed by Governor Flower. EMMA GOLDMAN, the former companion of Alexander Bergman, who shot H. C. Frick in Pittsburg. is making speeches in the Eas: Side, New York City, inciting the unemployed to violence. Other anarchists are also taking advantage of the situation to stir up strife. "GRANGE DAY" was celebrated at Chautauqua, N. Y. Governor Waite, of Colorado, and Roswell G. Horr were among the speakers. WHILE returning from a fishing excursion, August Kasten and John Frey, both of Syracuse, were struck by a train near Woodard station and instantly killed. James McHugh and Charles McFadden, both young men, were instantly killed on the Reading Railroad at Manayunk, a suburb of Philadelphia, Penn. THE Populists of New York held their State Convention at Sylvan Beach and nominated a ticket. THE storm that swept over New York City and vicinity was the most severe experienced in many years. Two men were struck dead by lightning at the Atlantic Highlands, N. J., and much damage was reported from all quarters. Several people were shocked by lightning in Brooklyn, and one man was drowned in a flooded cellar; Long Island and New Jersey towns suffered severely from rain and lightning. MANY iron mills in and near Pittsburg, Penn., have resumed operations. MRS. SHANN, charged with the murder of her son, was acquitted at Trenton, N. J. South and West. THE Hon. J. Logan Chipman, Congressman from Detroit, Mich., died a few days ago, at Detroit. IN the Democratic State Convention at Richmond, Va., Charles T. O'Ferral was nominated for Governor on the first ballot. R. C. Kehr was nominated for LleutenantGovernor by acclamation. THE four banks at Lemar, Iowa, closed their doors because of inability to realize on their assets. AUSTRIA'S DAY was celebrated at the World's Fair. WILLIAM JAMISON was hanged at Quincy, Ill., in the basement of the Court House in the presence of one hundred people. Outside there were 5000 waiting. Jamison was a colored herb doctor, and he was executed for the murder of Supervisor Charles N. Aron on April 19, 1892. DOUGLASS CURTIS, a Chicago (III.) railway flagman. shot his seven-year old child dead, fatally wounded his wife and took his own life. He had lost his work and was drinking. Ix a conflict between haymakers and soldiers which has taken place on the Cherokee Strip, Indian Territory, lour of the former were killed. GREAT BRITAIN'S day was celebrated at the World's Fair. THE live stock exhibit at the World's Fair was opened to the public. A CABIN five miles north of Charleston, Mo., was destroyed by fire. It was occupied by an old colored woman and several small children. The old woman was a paralytic, and was burned to a crisp. An eight-yearold child was so badly burned that she died three hours later, and one child, ten years old, was believed to have burned to death. E. M. DONALDSON. of Marion, Kan., is missing. He was President of the Union Trust Company of Sioux City, Iowa, which failed, and of the First National Bank of Marion, which was closed by a special examiner. Donaldson has fied the country and is probably in Mexico, 8 defaulter to the amount of at least $600,000.

20. September 9, 1893 Western Kansas World Wakeeney, KS
Article from Western Kansas World, September 9, 1893

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A Kausas Man Traveling. CITY OF MEXICO, September 1.-M. Donaldson, president of the defunct First National bank of Marion. Kansas, and secretary of the suspended Union Trust company of Sioux City, Ia., who is alleged to be a defaulter to the amount of $60,000, was in this city last week. He left Sunday and his present whereabouts are unknown.

21. September 19, 1893 Evening Star Washington, DC
Article from Evening Star, September 19, 1893

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An action was begun yesterday to have a receiver appointed for the Union Trust Company of Sloux City, Iowa.