Citizens Bank (Mount Ayr, IA)

Episode Information

Episode UID
3831299591249
Episode Type
Run → Suspension → Closure
Bank Type
private
Bank ID
383129959 hash
Start Date
January 16, 1904
Location
Mount Ayr, Iowa (40.715, -94.235)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1176f4c15e6d60e1

Response Measures

None

Events (3)
1. January 16, 1904 Receivership
Newspaper Excerpt
assignment was made this morning by Day Dunning ... property was turned over to John Patterson, former county treasurer ... John Peterson has been appointed receiver (reported).
Source
newspapers
2. January 16, 1904 Run
Cause
Bank Specific Adverse Info
Cause Details
Prolonged withdrawals tied to heavy owner exposures, liberal endorsements of notes, and declines in cattle/hog and land values.
Measures
Bank tried to withstand run for six weeks; no successful liquidity remedy reported prior to assignment.
Newspaper Excerpt
the bank has had a run for six weeks.
Source
newspapers
3. January 16, 1904 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Insufficiency of cash and alleged insolvency due to bad loans, heavy indebtedness of owner and falling commodity prices.
Newspaper Excerpt
made an assignment today; closed its doors Saturday morning.
Source
newspapers

Newspaper Articles (17)
1. January 16, 1904 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, January 16, 1904

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BANK FAILURE AT MT. AYR. Financial Difficulty of the Bank Mt. Ayr, Owned by Day Dunning. Special to Times-Republican. Ottumwa, Jan. -Day Dunning, president of the Citizens' Bank of Mt. Ayr, assigned this morning. The as. sets and liabilities are unknown, but it is said some depositors were caught for from $3.000 to $18,000. The bank has had a run for six weeks. Dunning was a heavy land owner and stock shipper and it is supposed the decline in prices caused the break. The bank was established by Dunning 23 years ago. Des Moines, Jan. 16.-The Citizens' Bank at Mt. Ayr. owned by Day Dunning, a private bank, made a general assignment today. There had been a run on the bank and rumors that the owner had been too liberal in indorsement of notes.

2. January 17, 1904 Arizona Republican Phoenix, AZ
Article from Arizona Republican, January 17, 1904

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AFFAIRS AT THREE BANKS. Suspension, Suicide and the Indictment of Officials. Mount Ayr, Ia., Jan. 16.-The Citizens' Bank of Mount Ayr, established twenty-three years ago, made an assignment today in favor of the creditors. A number of creditors were caught for from $3,000 to $18,000.

3. January 19, 1904 Ottumwa Tri-Weekly Courier Ottumwa, IA
Article from Ottumwa Tri-Weekly Courier, January 19, 1904

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IOWA BANK ASSIGNS. Well Known Mt. Ayr Institution Closes Its Doors. Mt. Ayr, Jan. 16.-(Special) - As the climax to a run which the Citizens' bank of Mt. Ayr had faced and withstood for six weeks, an assignment was made this morning by Day Dunning, the president of the institution and the property was turned over to John Patterson, former county treasurer of Ringgold county. The assets and liabilities are not obtainable at this time but it is know that some depositors are caught for amounts running from $3,000 to $18,000. Established Many Years. Although Mr. Dunning has been hard pressed for cash for the past six weeks on account of the run which has been going on. it was not thought that his affairs would end in disaster. He has always been regarded as financially very substantial and his bank, established twenty-three years ago, has long been known as one of the safest institutions in the county. This morning however, he found it necessary to close the doors and make an assignment. Decline in Prices. Mr. Dunning is a heavy land owner and stock shipper and has much money invested in both real estate and in stock. The recent declines in values has put him in a bad condition financially and this is said to have been the cause of his failure. Assets Balance Liabilities. This afternoon President Dunning estimates his liabilities at $400,000 and his assets the same. The creditors have appoitned John E. Scott, Alex Shrimplin and Charles Robinson to assist the receiver, John Patterson, in listing the assets. The leading creditors wish to avert bankruptcy proceedings. Failure At Sigourney. Sigourney, Jan. 16.-(Special) - J. H. Korf, a boot and shoe dealer here, has made an assignment for the benefit of his creditors, naming J. J. Rathbun as assignee. Mr. Korf's assets are stated as $1,237.67 and his liabilities are $3,693.09. Bankers Indicted. Joliet, Ill., Jan. 16.-C. H. Bacon, A. H. Butler, president and cashier respectively of the defunct Lockport bank, were indicted by the grand jury today on the charge of embezzlement.

4. January 21, 1904 The Leon Reporter Leon, IA
Article from The Leon Reporter, January 21, 1904

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MT. AYR BANK FAILS Liabilities are $450,000 and Only $750 in the Vault--Failure Has Caused Consternation. MT. AYR, Jan. 16. (Special)-With liabilities of $450,000 and only in the Citizens bank in place the closed vault, $750 of cash this its doors this morning. The president, Day Dunning, estimates the assets as close to the liabilities, but there are others who say the depositors will not get over 10 per cent. The bank had over $400,000 in deposits. Mr. Dunning and his sons, Clyde Dunning the cashier, and Clarence Dunning assistant held a consultation hours last after cided banking cashier, night and dethat the end of their string had Their F. was summoned at 5 this been Fuller, reached. attorney, o'clock F. morning, and a statement was on the bank door at 8 giving to post prepared o clock, notice that Mr. Dunning had over to John L. of his property his Mt. turned Ayr, all Patterson, except homestead for the benefit of his creditors. Mr. Patterson is a former county treasurer and enjoys the confidence of everybody. Although it was stated today by Cashier Clyde Danning that a quiet run on the bank had been progressing for about six weeks, the closing of its doors as a surprise to the community. The spread and distinct farming business word came over town and county with on the dozens of lines, rapidity and telephone great presently farmers from came pouring into were hundreds of tors direction While there deposit- every town. hard bit, the talk was for moderation. Mr. Dunning and most of the heavy creditors agree that the matter can be settled much more if of ings. it is kept.out bankruptcy economically proceedThe creditors got together this appointed John E. and Charles as Alex forenoon and Shrimplin Robinson Scott, representatives to be present when Messrs. Dunning and Patterson scheduled the the assets and liabilities. The creditors were invited to do this by Mr. Dunning's attorneys, Fuller & Fuller. Messrs. Scott and Shrimplin are brokers while Mr. Robinson is a farmer and stockman, and a county supervisor. The cause of the failure is supposed to be too great liberality in the loan business, and the depression in the cattle and hog markets. The Dunnings extensive stock feeders and shippers, and besides are financial many stock men. As to the a local other business backers loans, of man said this morning: "Day Dunning has succumbed to a marked trait in his character. I have known him for long years, and have talked with him intimately in relation to business and many other matters, and never had to do with a man who was more persistently thinking of the other fellow's rights and interests. He always was ready to give everybody all the help he could, and in this way he assumed more of other people's burdens than he could carry.' The safety of the other financial institution. the Mt. Ayr bank, owned by Allyn Bros., is not threatened. The Allyns own, free from incumbrance, thousands of acres of Ringgold county land, and it is the unanimous sense of the business community that their bank is solid basis, especially as they have foreseen the crash and have been preparing for it. The local sentiment in favor of moderate methods in order to make the estate pay out to the best advantage may not meet the approval of the representatives of outside banks and live stock commission houses, who have not yet arrived. The heaviest local creditor is John E. Scott, who had $18,000 on county had only Ringgold bank. Dr. $1,700 deposit. in the J. H. White had $8,000, $8,000, F. M. and his and Hon. R. H. sons Shrimplin $6,000, Eighme Spence $4,000. A few of the creditors are particularly unfortunate in losing practically all their possessions. The estimates of the amounts to be realized for the creditors if bankruptcy proceedings are averted is from 60 to 90 per cent, which however, is largely guess work. Day Dunning is about 55 years of age. He came here 49 years ago with his father, B. B. Dunning, the founder of Mt. Ayr, and has been one of the people ever since. He is the thirteen children. father prominent of He town's and Mrs. Dunning and their children fill large place in Mt. Ayr life. He founded the Citizens' bank in May, 1880, and has been at its head for the twenty-three years of its existence. The bank occupies a fine stone building, erected in on the busiest corner in town. 1892, Mr. Dunning the is a prominent Methodist layman. For Sale Cheap.

5. January 21, 1904 Reporter and Farmer Webster, SD
Article from Reporter and Farmer, January 21, 1904

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LITTLE CASH ON HAND. Failure of the Citizens' Bank at Mount Ayr, lowa. Quite a Crash. Des Moines, Iowa, Jan. 19.-An unofficial investigation into the affairs of the Citizens' Bank of Mount Ayr, which closed its doors Saturday, shows that there are liabilities of almost half a million, $400.000 of which represents deposits, with but $700 in cash on hand. Day Dunning, president of the institution, declares, however, that the assets will eventually equal the liabilities. It is said this estimate is predicted upon all paper being worth its face value, an extremely doubtful proposition. Indications are that the creditors will lose heavily. The president is a. stockman. John Peterson has been appointed receiver. This is the fifth Iowa bank to collapse within two months. Overloading, speculating and inability to realize upon notes is generally considered responsible.

6. January 21, 1904 Audubon Republican Audubon, IA
Article from Audubon Republican, January 21, 1904

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COMMITTEE ASSIGNMENTS. Membership of Both Senate and House Committees Announced. Des Moines, Jan. 15.-The committee assignments of both the senate and the house of representatives were announced yesterday. In the senate the committees and their chairmen are as follows: Ways and Means, Hayward; Judiciary, Dowell; Appropriations, Garst; Agriculture, Brooks; Railroads, Smith of Mitchell; Cities and Towns, Courtright; Suppression of Intemperance, Dunham; Insurance, Whipple; Schools, Crossley; Congressional and Judicial Districts, Moisberry; Senatorial and Representative Districts, Bruce; Elections, Lewis; Constitutional Amendments and Suffrage, Jamison; Public Health; Youn of Calhoun; Federal Relations, Weeks; Woman Suffrage, Cheney; Hospital for Insane, Springer; Institute for Feeble-Minded, Washburn; Institute for Deaf and Dumb, Martin; College for the Blind, Shaffer; Industrial Schools, Mott; Soldiers' and Orphans' Home, Nichols; Penitentiaries, Jones; Animal Industry, Doran; Military, Hart; Police Regulations, Skinner; Fish and Game, Hanna; Enrolled Bills, Spaulding, County and Township Organizations, Cassel; Board of Public Charities, Freeman; Senatorial Districts, Teter; Representative Districts, Maben; Congressional Districts, Greene; Judicial Districts, Kennedy Engrossed Bills, Lamkin; Rules, Langan; Public Lioraries, Ericson; Telegraphs and Telephones, Hopkins; Corporations, Hogue; Banks, Stuckslager; Military, Harper; Labor, Winne; Educational Institutions, Young of Washington; Mines and Mining, Warren; Highways, Hasselquist; Pharmacy, Wilson of Fayette; Printing, Hartshorn; Charitable Institutions, Spaulding: Building and Loans, Jones; Rules, Maytag; Compensation of Public Officers, Jackson; Penitentiaries and Pardons, Saunders; Federal Rela tions, Crawford; Claims, Eckles; Commerce, Hughes; Manufactures, Gale; Public Buildings, Stockey; Horticulture and Forestry, Elerick; Fish and Game, Kimmel; Public Lands, Beakly; Engrossed Bills, Newberry; Enrolled Bills, Turner. House committees and chairmen follow: Ways and Means, Temple; Judiciary, Kendall; Appropriations, Mattes; Railroads and Commerce, Wise; Banks and Banking, Head; Insurance, English; Agriculture, Pritchard; Schools and Text Books, Jepson; Mines and Mining, Teachout; Municipal Corporations, Buchanan; Telegraph, Telephone and Express, Coburn; Pardons, Cummings; Labor, Calderwood; Elections, Flenniken; Public Health, Leech; Roads and Highways, Bailey; Public Lands and of Buildings, Greeley; Suppression Intempersuce, Harris; Con: Vtutional Amendments, Wright; Publ C Libra ries, Koontz; Printing, Chassell; State University, Carden: Agricultur al College, McClurkin: Compensations of Public Officers. Bealer: Claims, McNie; Normal Schools. Robinson; Private Corporations, Christianson; Domestic Manufactures. Powers; Horticulture, Hollembeak; Pharmacy, Dashiell; Building and Loan, Kling MT. AYR BANK TO WALL. Citizens' Bank, One of Town's Leading Financial Enterprises. Mt. Ayt, Jan. 18.-With liabilities in of $450,000 and only $700 in cash the vault, the Citizens' bank of this place closed its doors Saturday morning. The president, Day Dunning, estimates the assets as close to the liabilities, but there are others who say that depositors will only get 10 per cent. The bank had over $400,000 in deposits. Mr. Dunning and his sons, Clyde Dunning, the cashier, and Clarence Dunning, assistant cashier, held a con sultation after banking hours Friday night and decided that the end of their string had been reached. Their attorney, F. F. Fuller, was summoned at 5 o'clock Saturday morning, and a statement was prepared to post or the bank door at 8 o'clock, giving no tice that Mr. Dunning had turned over to John L. Patterson all his property except his homestead for the benefit of his creditors. Although it was stated by Cashier Clyde Dunning that a quiet run on the bank had been progressing for about six weeks, the closing of its doors came as a distinct surprise to the business and farming community. The word spread over town and country with great rapidity on the dozens of 'phone lines, and presently farm ers from every direction came pour ing into town. While there were hun dreds of depositors hard hit, the talk was for moderation. Mr. Dunning and most of the heavy creditors agree that the matter can be settled much more economically if it is kept out of bankruptcy proceedings. The credi tors got together and appointed John E. Scott, Alex Shrimplin and Charles Robinson as representatives to be present when Messrs. Dunning and Patterson scheduled the assets and inliabilities. The creditors were vited to do this by Mr. Dunning's attorneys, Fuller & Fuller. Messrs. Scott and Shrimplin are brokers while Mr. Robinson is a farmer and stockman, and a county supervisor. LINHOFF TRIAL AGAIN. Sensational Case will Have Second Hearing in Mason City. Mason City, Jan. 18.-The Linhoff murder case will be the important Cerrofeature of the January Gordo term county of the

7. January 21, 1904 The Pioneer Press Miller, SD
Article from The Pioneer Press, January 21, 1904

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LITTLE CASH ON HAND. Failure of the Citizens' Bank at Mount Ayr, lowa. Quite a Crash. Des Moines, Iowa, Jan. 19.-An unofficial investigation into the affairs of the Citizens' Bank of Mount Ayr. which closed its doors Saturday, shows that there are liabilities of almost half a million, $400.000 of which represents deposits, with but $700 in cash on hand. Day Dunning, president of the institution, declares, how. ever, that the assets will eventually equal the liabilities. It is said this estimate is predicted upon all paper being worth its face value, an extremely doubtful proposition. Indications are that the creditors will lose beavily. The president is a stockman. John Peterson has been appointed receiver. This is the fifth Iowa bank to collapse within two months. Overloading. speeulating and inability to realize upon notes is generally considered responsible.

8. January 22, 1904 Oakes Republican Oakes, ND
Article from Oakes Republican, January 22, 1904

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LITTLE CASH ON HAND. Failure of the Citizens' Bank at Mount Ayr, Iowa, Quite a Crash. Des Moines, Iowa, Jan. 19.-An unofficial investigation into the affairs of the Citizens' Bank of Mount Ayr. which closed its doors Saturday, shows that there are liabilities of almost half a million, $400,000 of which represents deposits. with but $700 in cash on hand. 'Day Dunning, prestdent of the institution, declares, however, that the assets will eventually equal the liabilities. It is said this estimate is predicted upon all paper being worth its face value, an extremely doubtful proposition. Indications are that the creditors will lose heavily. The president is a stockman. John Peterson has been appointed receiver This is the fifth Iowa bank to collapse within two months. Overloading, spec. ulating and inability to realize upon notes is generally considered responsible.

9. January 22, 1904 Morgan County Democrat Versailles, MO
Article from Morgan County Democrat, January 22, 1904

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Weekly trade reviews show a favorable condition in all lines and a resumption of manufacturing with renewed confidence. Rendered insane by illness, Edward K. Landis, of Philadelphia, a widely known expert chemist, shot and killed his wife and himself. John Robinson was hanged at Kirksville, Mo., for the murder of his fatherin-law. George Conkle. John Harris, a negro, who, while resisting arrest. killed Policeman Drasbach, was hanged at Atlanta, Ga. Brig. Gen. Grant has assumed command of the department of the lakes, succeeding Maj. Gen. Bates, who goes to St. Louis. Many army officers oppose the bill now pending in congress by which the office of adjutant general is abolished and a military secretary created. Eighteen sightseers in Mammoth Cave in Kentucky were thrown into the water when their boat sank and had a narrow escape from drowning A committee of Michigan citizens invited President Roosevelt to attend the celebration of the birth of the republican party at Jackson July 6. Seymour R. Church, a pig iron merchant, failed in San Francisco with liabilities of $320,000. The Citizens' bank at Mount Ayr, Ia., owned by Ray Dunning, made an assignment with liabilities of $450,000. The Olyphant breaker and washery of the Delaware & Hudson company at Olyphant. Pa., was destroyed by fire, throwing 2,500 persons out of work. Actors and theater employes who are out of employment in Chicago and business men whose trade has been affected appeal for relief in the opening of theaters. Of the 593 victims of the Iroquois theater fire in Chicago only two remain unclaimed The coroner's inquest 18 nearly ended. Nine firemen. trapped by smoke and flame high in an elevator in Chicago, were rescued by comrades, who chopped through the roof. The senate committee on privileges and elections began hearing argumenta in the case of Mormon Apostle Smoot of Utah. Franklin Union No. 4 of Pressfeeders in Chicago was placed in the hands of a receiver by Judge Brentano. In a fire in the La Salle livery stable in Chicago 17 horses were cremated George Udell celebrated his one hundred and fourteenth birthday at Passale, N. J. Developments show that G. F. Utterback, cashier of the Sigourney (la.) savings bank who committed suicide, was short $47,000 in his accounts.

10. January 22, 1904 Iowa State Bystander Des Moines, IA
Article from Iowa State Bystander, January 22, 1904

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MT. AYR BANK TO WALL. Citizens' Bank, One of Town's Leading Financial Enterprises. Mt. Ayr, Jan. 18.-With liabilities of $450,000 and only $700 in cash in the vault, the Citizens' bank of this place closed its doors Saturday morn. ing. The president, Day Dunning, estimates the assets as close to the liabilities, but there are others who say that depositors will only get 10 per cent. The bank had over $400,000 in deposits. Mr. Dunning and his sons, Clyde Dunning, the cashier, and Clarence Dunning, assistant cashier, held a consultation after banking hours Friday night and decided that the end of their string had been reached. Their attorney. F. F. Fuller, was summoned at 5 o'clock Saturday morning, and a statement was prepared to post on the bank door at 8 o'clock, giving notice that Mr. Dunning had turned over to John L. Patterson all his property except his homestead for the benefit of his creditors. Although it was stated by Cashier Clyde Dunning that a quiet run on the bank had been progressing for about six weeks, the closing of its doors came as a distinct surprise to the business and farming community. The word spread over town and country with great rapidity on the dozens of 'phone lines, and presently farmers from every direction came pouring into town. While there were hundreds of depositors hard hit, the talk was for moderation.

11. January 26, 1904 Ottumwa Tri-Weekly Courier Ottumwa, IA
Article from Ottumwa Tri-Weekly Courier, January 26, 1904

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ARE IN BAD SHAPE BANKRUPTCY PROCEEDINGS MAY CAUSE UNNECESSARY LOSS TO CREDITORS. Dr. V. L. Dunning of This City, son of President Day Dunning of Citizens' Bank of Mt. Ayr, Thinks Creditors Will Receive Large Per Cent. "Things are in pretty bad shape" said Dr. V. L. Dunning of the New Main SysDental parlors on East tem when asked concerning the Ayr, failstreet of the Citizens' bank at Mt. is ure of which his father, Day Dunning stockand was the principal "I believe, however, do not force president holder creditors the that allow bank if the the bankruptcy court but time to into father and his associates realize my on the property at the disposal sacriof the bank without unnecessary receive a that the creditors will is fice large per cent of the money that due to them." Much Misrepresentation. has been a great deal of matter misrepresentation "There concerning this My many false reports sent out. land and father has some 2,000 acres of valmuch other property that is the and If no time is allowed for this and it becomes it upon the market uable. sale throw of necessary and forced take to be gotten for it at a will be a and father is perfectly sale, My what there can tremendous honest he will loss. do in his dealings and assist in everything square in his power and the possible manner to make necessary every losses as light as possible." Bankruptcy Proceedings. stated in the Courier since the the As the creditors and officers of shall failure have decided that the mater bank taken into the bankruptcy court. treasbe L. Patterson former county the John of Ringgold county will probably reported urer referee. The latest be estimate of the liabilities by President $265,000. Duning is $425,000 with assets at Opinion Divided. Opinion is greatly divided, hand says can a Ayr paper. On the one their Mt. found people who believe that and be funds have been grossly misused uncertainthe bank was run on moralthat ties longer than was legally or peoOn the other hand are ple ly right. who say that Day Dunning's refuta- entire and business career are a merely life tion of such charges and that striving judgment was at fault in financial his too long to avert a calamitous crash. direct cause of the failure for is The as a quiet run on the bank withgiven past six weeks. resulting in a As the of about $50,000 in deposits, in drawal causes which place the bank may the condition to a the poor the general named, withstand tightness Dunnings run of be market, losses by the the money the debtors on cattle within real esand two years, depression in loan polipast values and a too liberal from tate The deposits had run down cy. $500,000 March first 1903 to $380,00. Ottumwa Boy Loses. Miller. city clerk of Ottum- in George the sum of $765 deposited Milwa, bank had and his father, Rev. J. H. over ler the of Fairfield. had something $1,000 on deposit. President Dunning Talks. seen shortly after the closing When doors of the bank on Saturday of Mr. Dunning said: morning, the 'bumping' 'The for fact the have just been there is is we years. that is all turn it. twenty We each last kept thinking that safer to road would bring us to a became worse and we finally got to a place, of of better the but things instead place furit was no use to struggle I have been greatly that so many where ther. the sympathy touched but people this by extended to me today, the have will turn out so badly for feelthing that I am afraid their it ings creditors toward me will change before is all over." Dunning it is stated is one of Mr. most prominent men in Ringgold with its the and has been identified almost interests county in a large way for R. a His father, Barton was the first and there in June half Dunning, century. locating settler 1855 Dunning in Mt. building Ayr. the first house. Mr. raising, followed farming, stock He merchandising has and banking. bank be- in cashier of the Citizens' evcame 1880 and has been at its head May er since, assuming the title of president in 1892. Dunning was always ready to Mr. to everybody all the help he could have sometimes give more than he ought to this in justice to himself and in of given it is stated he assumed more carry. the way, people's burdens than he could CASHIER GOES WRONG. Official of Cleveland Defalention Bank Admits

12. August 11, 1904 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, August 11, 1904

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operated with fewer on the road are more in the shops, for they require and attention in the shops and get more of order easier than the smaller out When the railroad companengines. commenced to put on these monster the shop forces Now they are trying to get the working forces ies engines idly. with reduced increased be in along done. rapThey will find it cannot much if there is any I the big engines they are omy cost more to keep now. shops. doubt in They very in stock repair. econ- using is The wear and tear on rolling more than before. Theinjury track and the necessity the track to the ing very to the up much highest for I keep- think possible standard is much greater. berailroad companies have gone the the limit in the making of big yond locomotives, and they will have to go back." ... From Mt. Ayr the news comes that ill feeling is running high against the the Dunnings, who owned the Citizens' of bank and for years made free use For a that belonged to others. money time there was much sympathy, long they had been free to help a great as people. They were especially active many in politics in Ringgold county. their that it is discovered that that failure Now was a very bad one and that must have known for years iathe they bank which they operated was is solvent, the feeling against them will high. It is very probable they be prosecuted. The last legal hanging in Iowa Cum- was nearly ten years ago, when J. K. berland, of Shelby county, was his hang- exfor murder. the warrant for ed ecution having been signed by Governor about Jackson. There was no doubt dethe guilt of Cumberland nor of the gree of guilt attaching. Attorney General Mullan has written the decision construing the law of a last legislature relative to the payment A bill costs in certain insane cases. audof $97.86 was presented by the by for of Franklin county for payment an itor state, the same costs being Tuck- of the trial in the case of W. K. Pine insane and cost of sending him to er Minn. This was referred to the the attorney City, general. He ruled that for made no provisions whatever old the law state paying such bills. The should provided that the county been law the costs, and this has not changed. pay The law of the last legisla- cases which relates to certain ture not affect the law which provided does sending insane out of the state. for applies where an insane person legal but found in one county and his In residence is is shown to be in another. be such cases the costs of the trial may of by the state, but not the cost other transporting paid the patient to the such or to a hospital. But in the county the county must first pay the cases and then have it approved by bill board of control before it is paid, to state the state can pay no bills direct and individual. It appears that in some the an the belief prevails that of counties has arranged to pay all costs but this state insane to other states, decision sending indicates that they are going wrong. ... A rehearing is asked by N. R. Par- with of Cedar Rapids, in the Insurance suit vin, Mutual Reserve Life insurCompany, the in regard to $7,500 of secthe life of the late grand of ance on of the Masonic grand lodge decisretary It is represented that the Iowa. that the company when it bought ion the old Masonic Aid Association did out have to accept Parvin's insurance, not some 23,000 of the members the of affects old order. It is represented that cash purchasing the company got $300,000 re$6,000,000 notes and then and fused to carry out its agreements.

13. January 5, 1905 Iron County Register Ironton, MO
Article from Iron County Register, January 5, 1905

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Business Failures Jan. 14-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (la.) Citizens' bank; $450,000. 22-Cleveland (0.) Produce Exchange bank and branches at Belford, Hudson and Defiance. 23-Elkhart (Ind.) Nat. bank. 80-New York, A. B. Baxter & Co., cotton brokers; $2,000,000. Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co. Clarksburg (W. Va.) Traders' Nat, bank. 9--McGruder (Tex.) Citizens' Nat. bank. 10-New York Equitable Nat. bank Bank of Dunn, N. C. 11-Syracuse (N. Y.) Exchange Nat. bank; $500,000. 15-Pella (Ia.) Savings bank. 28-Opelika (Ala.) bank; $150,000 Tanton (Mass.) bank; $600,000. Mar. 2-Le Sueur (Minn.) bank; $95,000. 11-Garden Grove and Coin (Ia.) banks. 18-Daniel Sully, New York cotton king; $17,000,000. 2i-Lonaconing (Md.) Savings bank. 22-Riverside (Cal.) bank....E. O. Miller, banker, Providence, la National bank of Holdenville, Ind. T., suspends operations. 81-Union Trust, Boston: $1,600,000...Federal Trust. Cleveland; $1,000,000.

14. January 6, 1905 The Bourbon News Paris, KY
Article from The Bourbon News, January 6, 1905

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Business Failures Jan. 14-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (Ia.) Citizens' bank; $450,000. 22-Cleveland (0.) Produce Exchange bank and branches st Belford, Hudson and Defiance. 23-Elkhart (Ind.) Nat. bank. 30-New York, A. B. Baxter & Co., cotton brokers; $2,000,000. Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co Clarksburg (W. Va.) Traders' Nat. bank. 1-McGruder (Tex.) Citizens' Nat. bank. Id-New York Equitable Nat. bank Bank of Dunn, N. C. 11-Syracuse (N. Y.) Exchange Nat. bank; $500,000. 15-Pella (Ia.) Savings bank. 28-Opelika (Ala.) bank; $150,000 Tanton (Mass.) bank; $600,000. Mar. 2-Le Sueur (Minn.) bank; $95,000. 11-Garden Grove and Coin (Ia.) banks. 18-Daniel Sully, New York cotton king; 21-Lonaconing $17,000,000. (Md.) Savings bank. 22-Riverside (Cal.) bank E. O. Miller, banker, Providence, Ia National bank of Holdenville, Ind. T., suspends operaHons. 1-Union Trust, Boston; $1,600,000 Federal Trust, Cleveland; $1,000,000. Apr. 4--Capital Nat. bank, Guthrie, Okla.; $1,033,000 W. B. Mack, New York.

15. January 6, 1905 Middlebury Register Middlebury, VT
Article from Middlebury Register, January 6, 1905

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Business Failures Jan. 11-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (la.) Citizens' bank; $450,000. 22-Cleveland (O.) Produce Exchange bank and branches at Belford, Hudson and Defiance. 23-Elkhart (Ind.) Nat. bank. BO-New York, A. B. Baxter & Co., cotton brokers; $2,000,000. Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co. Clarksburg (W. Va.) Traders' Nat. bank. 9-McGruder (Tex.) Citizens' Nat. bank. 10-New York Equitable Nat. bank Bank of Dunn, N. C. 11-Syracuse (N. Y.) Exchange Nat. bank; $500,000. 15-Pella (Ia.) Savings bank. 28-Opelika (Ala.) bank; $150,000 Tanton (Mass.) bank: $600,000. Mar. 2-Le Sueur (Minn.) bank; $95,000. 11-Garden Grove and Coin (Ia.) banks. 18-Daniel Sully, New York cotton king; $17,000,000. 21-Lonaconing (Md.) Savings bank. 22-Riverside (Cal.) bank E. O Miller, banker, Providence, Ia National bank of Holdenville, Ind. T., suspends operations. 81-Union Trust, Boston: $1,600,000 Federal Trust, Cleveland: $1,000,000. Apr. 4-Capital Nat. bank, Guthrie, Okla.; $1,033,000 W. B. Mack, New York.

16. February 2, 1905 The Oskaloosa Herald Oskaloosa, IA
Article from The Oskaloosa Herald, February 2, 1905

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EMBEZZLER CAUGHT SAYS HE DIDN'T STEALPRESIDENT OF DEFUNCT PAN- L. W. mitchell SUES THE JONES FAMILY FOR CAUSING AMERICAN BANK OF CHIHIS ARREST. CAGO UNDER ARREST. A new case in court which has atChicago, Jan. 28.-The police this maroning were advised of the arrest tracted no little attention in the neighborhood in which the parties reside, in New York of William H. Hunt, is that of L. W. Mitchell, who asks president of the PanAmerican Bank$300.00 damages from H. W. Jones and ing Company of Chicago, which is in the hands of a receiver. Hunt, ac- W. G. Jones, who, he alleges, caused cording to the police, has been in- his arrest upon a false charge. The parties are residents of White Oak dicted for the alleged embezzlement township, and according to the petiof thirty-six thousand dollars and receiving deposits knowing that the tion of Mitchell, Harry Jones, on the bank was insolvent. W. S. Rector, 10th of November last caused his arrest on a charge of stealing wood from the cashier, has not yet been located. the yard of Jones's father, W. G.Jones. Day Dunning on Trial. Mitchell says that ne was acquitted Mt. Ayr, Iowa, Jan. 28.-After takand that Jones had filed tue charge ing the entire day to select the jury, without believing, and having no the hearing of evidence in the case probable cause to believe, that the of Day Dunning, indicted for fraudplaintiff was guilty. The elder Jones ulent banking, began this morning is charged with being a confederate. in district court. The state, as announced by Judge Henry in his opening statement, will attempt to After working from the first of prove that Day Dunning, sole owner April to September 9, W. S. Cooper of the Citizens' Bank, knew that the says, he quit the employ of Matthew bank was insolvent when he acceptMyers, who according to the petition, ed the deposit of the Seevers Lumduring that time paid Cooper nothing ber Company on January 15, 1904. for his labor. This, according to the At the time of the failure the bank plaintiff, was worth $1.00 per day, lacked $100,000 of having enough and judgment for $159.00 is asked. funds to pay its creditors. Dr. H. C. Homer sues Willis and

17. December 12, 1906 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, December 12, 1906

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GET DUNNING JURY EASILY. Wife Gives Close Attention to Evidence Against Former Banker. Osceola, Dec. 12.-It took but an hour yesterday to secure a jury in the case of Day Dunning of Mount Ayr, Ringgold county, charged with wrecking the Citizens bank of that place in January, 1904. Dunning was tried at Mount Ayr, convicted and sentenced to three years in the penitentiary, but the supreme court granted a new trial because of errors in the instructions by Judge Evans. The case was sent here on a change of venue by Judge Evans because of the large amount of feeling against Dunning in his own county among those who lost their money in the bank. Dunning, accompanied by his` wife and brother, arrived Monday night and are stopping at the Howe hotel. Mrs. Dunning sat beside her husband in the court room and gave close attention to the evidence. The opening statement was made to the jury by County Attorney Banker. He stated that the Citizens' Bank of Mount Ayr had been run by Dunning and his son for a long number of years, that it was a private bank and Dun ning knew all about its workings and the subsidiary companies which he was interested. There were over $400,000 in deposits on January 14, 1904, (besides some $90,000 in overdrafts and about $30,000 in old notes more or less worthless. On this date Dunning is charged with receiving a deposit of $106.75 from J. H. Seevers of the Seevers Lumber Company, when he knew that the bank was insolvent and unable to pay its debts. There is a mass of evidence to be introduced to prove the general charge, but the specific charge is the Seevers' case.