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BANK SUSPENDS. Chicago Concern With Half a Million Capital. Chicago, III., Jan. 26.-The PanAmerican Banking company suspended today. Capital, $500,000.
3973. Pan American Banking Company (Chicago, IL)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- January 26, 1905
- Location
- Chicago, Illinois (41.850, -87.650)
Metadata
- Model
- gpt-5-mini
- Short Digest
f729826c440780cc
Response Measures
None
Description
The Pan-American Banking Company (Chicago) suspended payment Jan. 26, 1905 and a receiver (E. C. Day) was appointed. Coverage documents insolvency, alleged embezzlement/irregular transfers of deposits to related private interests, missing cashier, indictments and arrest of President W. H. Hunt. Depositors thronged the doors, but the primary cause was bank-specific insolvency/embezzlement rather than mere rumor. The bank did not reopen and remained in receivership/closure.
Events (4)
1.
January 26, 1905
Receivership
- Newspaper Excerpt
- Edward C. Day was appointed receiver, his bonds being fixed at $20,000.
- Source
- newspapers
2.
January 26, 1905
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank was insolvent — liabilities exceeded assets; alleged misappropriation/withdrawals to private New York bank and Mexican branch; cashier missing; checks not honored causing immediate embarrassment and suspension.
- Newspaper Excerpt
- Chicago, III., Jan. 26.-The PanAmerican Banking company suspended today.
- Source
- newspapers
3.
January 27, 1905
Other
- Newspaper Excerpt
- A crowd of twenty or thirty depositors hung around the doors of the bank all day ... several mysterious clerks carrying satchels. They're making their getaway with our coin. cried one of the depositors.
- Source
- newspapers
4.
January 28, 1905
Other
- Newspaper Excerpt
- W. H. HUNT ARRESTED. New York, Jan. 28.-W. H. Hunt ... has been arrested here ... on the charge of embezzling $36,000.
- Source
- newspapers
Newspaper Articles (21)
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A SHORT LIVED BANK The Pan-American of Chicago Closes Its Doors. Chicago, Jan. 26.-The Pan-American Banking company, 186 Dearborn street, an institution little known in the financial world, closed its doors to customers today, but the announcement was made that payments might be resumed tomorrow. The bank is said to have done considerable business in small accounts. Declaring that the bank had a debt of $10,000, with no assets, a shareholder in the concern filed a petition in the circuit court early today for the appointment of a receiver. According to the petition, the bank was organized last January under the laws of West Virginia, and the capital stock was fixed at $500,000. Edward C. Day was appointed receiver, his bonds being fixed at $20,000. During the court proceedings the stockholders brought attachment proceedings against the concern and constables levied on everything in sight. Whether the loss to patrons of the bank will be large has not been determined. Attachment suits begun today amount to over $5,000. W. M. Hunt, president of the bank, whose name, with that of Secretary W. R. Travers, appears on the bank stationery, opposite the address 91 Wall street, New York city, is said to be a passenger on the Twentieth Century limited, which has been delayed by a blizzard near New York.
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Receiver Appointed for Bank By Associated Press. CHICAGO, Jan. 26.-The Pan-American Banking company, 186 Dearborn street, an institution little known in the financial world, closed its doors to customers today, but announcement was made that payments might be resumed tomorrow. Edward C. Day was appointed receiver, his bonds being fixed at $20,000.
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CAUSES BANK SUSPENSION. Stalling of Train Seriously Affects Chicago Institution. Chicago, Jan. 27.-Stalling of the Twentieth Century limited on the New York Central is alleged to have caused the suspension of the Pan-American Banking company here. No statement has been issued and no notice has been posted at the bank. W. H. Hunt, president of the bank, is a passenger on the blockaded train. Julius Heldman, the bank's attorney, declared that when Mr. Hunt reaches Chicago business will be resumed. W. R. Traverse is secretary and treasurer of the bank. On the bank stationery the address of Mr. Hunt and Mr. Traverse is given as 91 Wall street, New York. The concern did a savings business, it is said, to a considerable extent.
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STALLED TRAINS CLOSE BANK. : Its Attorney Declares It Will Reopen When 20th Century Limited Reaches Chicago. [BY TELEGRAPH TO THE TRIBUNE.] Chicago, Jan. 26.-The stalling of the Twentieth Century Limited on the New-York Central is alleged to have caused the suspension of the PanAmerican Banking Company here to-day. No statement has been issued, and no notice has been posted at the bank. W. H. Hunt, president of the bank, is a passenger on the blockaded train, which should have reached Chicago to-day. Julius N. Heldman, the bank's attorney, declared that when Mr. Hunt reaches Chicago business will be resumed. W. R. Travers is secretary and treasurer of the bank. Julius N. Heldman, acting for the bank, announced that the Central Trust and Savings Bank had declined to make payments on uncollected funds, and that several of the Pan-American's checks had been thrown out. Travers's name appears on the bank stationery, opposite the address No. 91 Wall-st., New-York City. A branch of the Pan-American Bank was conducted also in Mexico City. A month ago two employes of this Mexican bank returned to Chicago, and the supposition is that the branch was closed. Hunt and his associates are said to have been interested heavily in Mexican enterprises. The bank, which claimed a capital of $500,000, did a savings business among small depositors.
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Failure of the Pan American Banking Company In Chicago Reveals Startling Facts STOCK VALUED AT $200 SHARE When Check for $175 Was Drawn the Bank Was Unable to Meet the Payment and the Institution Was Closed -Liabilities $10,000 With No Assets -Did Business on Hot Air. Chicago, Jan. 27. - An operation in "high finance" came to grief in Chicago yesterday, when the Pan-American Banking Company of this city suspended payment and went into the hands of a receiver. The institution, which did business at 185 Dearborn street, claimed to have $500,000 capital, $500,000 surplus, stock valued at $200 a share, and 3,000 depositors. But when one depositor drew a check on it for $175 and the Central Trust Company refused it credit the bank became embarrassed and the rude authorities stepped in. It is said that $40,000 of depositors' money is Involved. W. H. Hunt, president of the institution and the owner also of a banking business at 91 Wall, street, New York, is the person whose efforts in the world of finance have thus come to at least temporary collapse. President Hunt's attorneys said he was snowed in on the Twentieth Century Limited with a large amount of funds on his person for the relief of the bank. Some of the depositors, however, expressed fears that Mr. Hunt was snowbound more safely in New York. The Limited train reached here at an early hour this morning. Here is the list of embarrassments which the Pan-American suffered during the day: Richard A. Pick, an Insurance solicitor, deliberately drew a check for $175 on his account at the bank. The check came back unpaid, and Mr. Pick immediately sued out an attachme on the furniture in Justice Wolff's court in the amount of $199.93. Constable Peter Bretz took possession of the furnishings at 11:30 a. m. This proved so embarrassing that the bank suspended business at once. Close following upon this action George F. Kelly, a stockholder, petitioned Judge Dunne to appoint a reer for the bank, which, he said, had liabilities to the amount of $10,000 and no assets. His checks had not been cashed for a couple of days. Judge Dunne appointed E. C. Day receiver. Johnson's Story Pathetic. J. M. Johnson sued out an attachment in the superior court to cover a check for $1,650. Deputy Sheriff Michael Fitzgerald served it on the Central Trust Company, with which the Pan-American had a banking account. Johnson's story was pathetic. After years of work, it is said, he built up a little business. On Wednesday he sold his store for $1,650 receiving a check on the Pan-American in payment. The check was put in for collection, but was not paid. John M. Hess secured an attachment in the circuit court to cover his account of $3,500 in the bank, and secured a writ of garnishment on the Central Trust Company to recover $2,250, the amount of a certified check he held on the embarrassed bank. Deputy Thomas McGuire served the attachment on the Central Trust. Another suit in attachment against the Pan-American was in the interest of Dr. Hiram C. Castor. He claims $285 from the bank. At the Doors of the Bank. A crowd of twenty or thirty depositors hung around the doors of the bank all day, where Attorney Heldman of the firm of Cox & Heldman spent most of his time explaining President Hunt's unfortunate detention with his money bags on the Twentieth Century Limited. The only real excitement resulted from the hurried departure from the bank of several mysterious clerks carrying satchels. "They're making their getaway with our coin." cried one of the depositors. Attorney Heldman had to recall the mysterious clerks and replace the satchels the bank. Col. Turner Out of It. As an example of excited finance, the methods of the Pan-American are said
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PAN-AMERICAN BANK. Has $300 in Cash to Meet Liabilities. Chicago, Jan. 28.-It is said that the liabilities of the Pan-American bank here approximate $45,000. To meet those liabilities are assets said to consist of $300 in cash, one trust deed of doubtful value, and some promissory notes, the whole amounting to $3,000. Receiver Edwin C. Day has made the discovery that within the last four months $25,000 has been withdrawn from the Pan-American bank for the private bank of President William H. Hunt, in Wall street, New York, and that other withdrawals of $9,800 and $5,000 were credited to Hunt and a branch institution in the city of MexiCO, Col. Henry L. Turner, who severed connection with the Pan-American bank about a month ago, is said to have been prompted by disapproval of the methods of sending deposits to other banks. Efforts to find W. S: Rector, the cashier, have thus far proved vain. Criminal prosecution of the officials of the defunct Pan-American bank was instigated by Attorney V. A. G. Murrell of this city, one of the depositors of the bank. Mr. Murrell deposited money in the bank on the day before it failed. W. H. HUNT ARRESTED. New York, Jan. 28.-W. H. Hunt, who was connected with the Pan-American bank of Chicago, which closed its doors several days ago, has been arrested here at the request of the Chicago police, who notified the New York authorities that they had a warrant for Hunt on the charge of embezzling $36,000.
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HUNT. RECEIVER FOR HIS BIG OPERATIONS. International Banker Gives BailSearch for His Cashier. Hill Hunt, the president of the PanWilliam Banking Company. with offices at No. 185 American Chicago, was arraigned in the West Dearbornest. yesterday morning and released in $5,000 Side court Magistrate Barlow, to appear there Monday was ball by the charge of stealing $36,000. Hunt to answer on Friday night at his home, No. 251 West arrested request of Francis O'Neill, chief of the geth-st., on Bail was furnished by AssemblyChicago police. man Seymour. Barlow was told that a warrant had Magistrate in Chicago for Hunt's arrest on the of been issued complaint of Victor Murrell, a depositor sworn Pan-American Banking Company. the Hill Hunt was formerly president Amer- of the William Bank and Trust Company of International to grief more than a year ago. 108, Bank and Trust The in Delaware in which International came October, Company, 1902, which Com- repwas union of the Corporation resented which had been 52 incorporated Delaware, the incorporated Trust No. in pany of and had its New~York office at which March, 1899, and the Mexican Trust Company, Mexico. Broadway, nine branches in as many cities International of operated early directors of the J. Sloat Among the were William Astor Chanler, all of company and the late James W. Hinkley, several Fassett however, retired from the board On whom, before the collapse of the company. and Trust months 1908, the International Bank Mexico, October 17, main office, in the City that of the conCompany's a notice being posted its into voluntary liquidation. had appointed receiver by the closed cern was doors, gone Mexican Jacinto AmerPatteras the bank's management desired Chancellor an courts, but and on their application days later joan receiver, of Delaware, two or three receiver. Nicholson, James H Hughes, of that State, Seatappointed of the company in San Francisco, States were The offices other cities of the United of tle and closed. An inquiry into the affairs office the promptly begun by the District Attorney's the comconcern was it having been reported that in Newin this city, been doing a banking business with the pany had without filing a certificate action was York State Department at Albany: but no issued for Banking order of arrest had been reported, taken An Mexican court, the dispatches into the Hunt by had a crossed the border from Mexico him. but he States before it could be served upon InterUnited December, 1903, the stockholders of the the In and Trust Company approved national a of reorganization and outline to perfect it and take committee of Bank plan the adopted necessary appointed by & under it. The plan, as finally the action reorganization committee, provided for Com- orthe of the Pan-American Securities Arizona, with $2,000,000 Virpany. Banking Company, in and ganization Pan-American in capital, Depositors West and the with $500,000 capital stock. were ginta, creditors of the International company claims in other to accept payment of their the of 10 per cent each, "as and the International company may to dividends assets be asked of exceeded when be real- $500, creditors whose claims were to be asked to amount of their respective ized," Mexican the and money, subscribe claims to one- the the new Pan-American Stockholders of the at 200. stock half of International Banking Company of company 10 to subscribe, to the amount per their holdings, to cent were of asked Pan-American Pan-Ameri- Banking stock at 200, with a bonus of stock to an amount subscribed. Those not to to old can Company stock Securities 80 equal desiring to were their for Pan-American Banking stock right to exchange their sehave the for 50 per cent in stock of the company. stock subscribe holdings International Willcurities reorganization having been completed, Pan-AmeriThe H. Hunt became president of the foriam Company, and W. R. Travers, can Banking with the Merchants' Bank of Canada, treas- at merly Ontario, was elected secretary and at local office of the concern has Wall-st. urer Hamilton, The been No. Hunt's 91 office yesterday was in charge of offered. a young woman. Mr. Hunt She made cashed the some following of the statement checks yesterday at his home, No. 251 West 99th-st.: cause of the trouble was The two immediate directors of the Pan-American on December Banking the fact 81, accepting them afterward adverthat only two Company directors sent in their present. themselves, resignations They as they were resigned the newspapers that they had these gentlemen were not known in had fact of their advertising that detised While in Chicago they Chicago, of the mere as directors caused a withdrawal resigned bank's cash reserve being decreased withdrawal of deposits, I telegraphed which by some aid for the bank, in posits. the the East, The asking friends they to for the purpose of rediscounting some bills. These arrangements I had about I came agreed East furnish. telegraphed perfected and on morning should have funds to Chicago to meet the from 8:30 en route from Scranton to until was ample delayed Thursday demands. New-York o'clock on Wednesday afternoon 12:30 My inability o'clock Thursday to reach night. New-York and telegraph the the suspension There have been no from the bank, no of and the story of any $36,000 is based solely upon the receives deposits of funds defalcations funds, caused provide that if any bank misappropriations embezzlement Illinois statutes, the officers are informed of its insolvency, they after which embezzlement. beare guilty bank, of to the best of my knowledge and lief, The was solvent the day it closed and every day that I am it transacted perfectly solvent, business and my banks in continue Mexico and New-York are still running, and will of the run, and I expect to settle the affairs Chicago to bank satisfactorily, and in all probability will keep up the branch there.
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Chicago, Jan. 30.-It is said that the liabilities of the Pan-American bank here approximate $45,000. To meet these liabilities are assets said to consist of $300 in cash, one trust deed of doubtful value and some promissory notes, the whole amounting to $3,000. Receiver Edwin C. Day has made the discovery that within the last four months $25,000 had been withdrawn from the Pan-American bank for the private bank of President William H. Hunt in Wall street, New York, and that other withdrawals of $9,800 and $5,000 were credited to Hunt and branch institutions in the City of Mexico.
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DEFUNCT BANK MAY MEET OBLIGATIONS Securities Said to Be on Hand to Cover Deficit of the PanAmerican Company. CHICAGO, Jan. 29. / Securities which President William H. Hunt of the defunct Pan-American Banking Company says will cover whatever discrepancies exist between the bank's liabilities and visible assets are in the New York mail for Chicago. Such was the message received by Attornew Heldman, representing Receiver Day, in the course of a long-distance telephone conversation to-night with Hunt. The securities, it is said, will reach Chicago to-morrow and further action will be delayed until it is learned what they are. Heldman said to-day that a doubtful note for $50,000, given by the Brace & Howard Company, an Eastern concern, has been found among the Pan-American Banking Company's assets. Cashier Rector is still missing.
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PAN-AMERICAN BANKING CO. Securities To Cover Discrepancies Are on the Way, It Is Said. Chicago, Jan. 30.-Securities which President William H. Hunt, of the Pan-American Banking Co., declares will cover whatever discrepancies exists between the bank's liabilities and visible assets are in the New York mail for Chicago. Such was the message received by Attorney Julius N. Heldman, representing Receiver Edwin C. Day, in the course of a long distance telephone conversation with the head of the concern which closed its doors recently. The securities will, it is said, reach Chicago and further action will be delayed unti! it is learned what they are worth. Hunt said he would not fight extradition, but would accompany the detective who had been sent after him. "As nearly as we could make out," said State's Attorney Nealy, "the securities which we have found in the bank are worth between $7,000 and $8,000. The developments of a day seem to give more evidence of the unsoundness of the bank and of peculiar business transactions." Cashier Rector is still missing from his home at 4905 Lake avenue and the search for him continues. Mr. Healy said that a note of doubtful value for $50,000, given by the Brace & Howard Co., an eastern concern, has been found among the PanAmerican Banking Co.'s assets. A further investigation of this note and other securities will be started.
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James Saxon, five years old; garet Saxon, three years old, and Saxon, one year and three months were burned to death in a fire in apartment house in New York. Attendants in a Russian bath in New York city locked two mers in the steam room and they were there. Both were scalded death. Severe cold is being experienced Italy. Mount Vesuvius is covered snow, and even at Palermo, snow fell abundantly for the time in 20 years. The jury at Lexingto 0, Ky., in case of William Britton, on trial the murder of James Cockrill, turned a verdict of guilty and the punishment at life imprisonme Japanese captured an American taking supplies to Vladivostok. The British admiralty is planning vast mimic war for its squadron, cover the waters of the entire Vincent Briscoe, who killed tive Patrick Duffy in May, 1902, in cago, has been arrested at Mobile, The receiver of the Pan-Americ bank, Chicago, puts the assets $17,200 and liabilities at $75,900. dent W. H. Hunt has been arrested. Knights of Pythias lodges have ceived orders to oust all liquor and gamblers admitted since a law hibiting them from membership into effect. A man named Braun was torn pieces and six other men injured, of them probably fatally, by an plosion of dynamite on the Weste Maryland railroad extension near cock, Md. The Lewis and Clark exposition be open to the public on Sundays, cording to an announcement made Portland. Ore., by the fair directo The "Trail" amusements will be on that day. The investigation of protests Senator Smoot, of Utah, retaining seat in the United States senate been concluded and when a report drafted by the committee the inves gation will pass to the whole senate. The fumes from a hard coal caused the deaths, in St. Louis, of Louise Mullen, aged 60 years, and two grandchildren, Mora and Clare Jones, aged respectively 12 and 11. are negroes. Russian army has retreated the Hun river. Gen. Mistchenko wounded. Oyama split the attacki forces and defeated both fragments Grand Duke Sergius is blamed Russia's evil genius. He is held sponsible for the czar's refusal grant demands of the people. Champaign. III, was visited by conservition 000'09$ Japanese attacked Kuropatkin's wing, but were repulsed, according Russian report, and later Muscovi captured a town and guns near Mukd Gen. Kuropatkin reports seizing and intrenchments from Japs in a days' fight. Will Walters, a gambler. entered Palace saloon, at Tucson, Ariz., by M. M. Conn. walked to the poker bie and, without a word of warning, a revolver and opened fire, killing and two other men, then committ suicide. Revenge for being dischar; was his motive. A horse, sleigh and driver were concealed under a ten-foot snowd near Winsted, Conn. The man frozen to death. A Lehigh Valley locomotive of
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BANK OFFICIAL ARRESTED PRESIDENT OF DEFUNCT INSTITUTION IN TROUBLE. Grand Jury at Chicago Returns Two Indictments Against HimThe Charges. Chicago, Jan. 30.-President William H. Hunt, of the defunct Pan-American bank, was arrested in New York Saturday, two indictments against him were returned in court, and simultaneously came sensational information as to the methods of Hunt and some of his associates. It developed that deposits had been received at the bank as late as the evening before the institution suspended payment. A story was told of a deal whereby $200,000 worth of stock was taken by easterners. The money has not been found by Receiver Edwin C. Day. All forenoon depositors thronged to the bank doors and told pitiful tsories. Criminal prosecution of the bank officials was instigated by V. A. G. Murrell, of the law firm of Murrell & Takken. Friday afternoon the grand jury voted indictments against Hunt, president, and also W. S. Rector, assistant cashier. True bills were sought against W. R. Travers, secretary and treasurer, and George E. Foster, chairman of the board of directors. Secrecy is being maintained by the state's attorney a Nto the action of the inquisitors in the cases of Travers and Foster Immediately after the indictments had been. drawn State's Attorney Healy ordered extradition papers made up and plans were made to send Detective Frank Tyrrell to New York to bring Hunt to Chicago. He was arrested in that city by orders from Chief of Police O'Neill. The latter acted under directions from State's Attorney Healy. Judge Dunne authorized the receiver to expend money necessary to send a deputy sheriff to New York also. The charge against Hunt is that he accepted deposits when he knew that the bank was insolvent. The total deposits amounted to $45,000 at the time of the insolvency, and the balance in the institution amounted to $8,000, leaving a deficit of $37,000. He was released on $5,000 bail.
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BANK OFFICIAL ARRESTED PRESIDENT OF DEFUNCT INSTITUTION IN TROUBLE. Grand Jury at Chicago Returns Two Indictments Against HimThe Charges. Chicago, Jan. 30.-President William H. Hunt, of the defunct Pan-American bank, was arrested in New York Saturday, two indictments against him were returned in court, and simultaneously came sensational information as to the methods of Hunt and some of his associates. It developed that deposits had been received at the bank as late as the evening before the institution suspended payment. A story was told of a deal whereby $200,000 worth of stock was taken by easterners. The money has not been found by Receiver Edwin C. Day. All forenoon depositors thronged to the bank doors and told pitiful tsories. Criminal prosecution of the bank officials was instigated by V.A. G. Murrell, of the law firm of Murrell & Takken. Friday afternoon the grand jury voted indictments against Hunt, president, and also W. S. Rector, assistant cashier. True bills were sought against W. R. Travers, secretary and treasurer, and George E. Foster, chairman of the board of directors. Secrecy is being maintained by the state's attorney a Nto the action of the inquisitors in the cases of Travers and Foster. Immediately after the indictments had been. drawn State's Attorney Healy ordered extradition papers made up and plans were made to send Detective Frank Tyrrell to New York to bring Hunt to Chicago. He was arrested in that city by orders from Chief of Police O'Neill. The latter acted under directions from State's Attorney Healy. Judge Dunne authorized the receiver to expend money necessary to send a deputy sheriff to New York also. The charge against Hunt is that he accepted deposits when he knew that the bank was insolvent. The total deposits amounted to $45,000 at the time of the insolvency, and the balance in the institution amounted to $8,000, leaving a deficit of $37,000. He was released on $5,000 bail.
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No Pan-American Bank Assets in Mexico. AUSTIN, Tex., Feb. 12.-Frank M. Key of Chicago, receiver of the Pan-American Bank of that city, is on his way home from the City of Mexico. where he investigated the condition of the branch bank of the bankrupt institution. He says that he secured information which satisfied him that creditors cannot hope to secure anything from the Mexico end of the institution.
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WILL PAY DEPOSITORS. Former President of Defunct Bank to Settle Today. CHICAGO, August 16.-About 1,500 men, women and children, depositors and holders of savings account books in the defunct Pan-American Bank Company, It is expected will appear at the Sherman House today and receive in full the amounts of their deposits. The first decisive announcement that depositors were to receive their money was made yesterday by Attorney Heldman, counsel for some of Banker William Hunt's creditors. Creditors of the banking company holding claims of $10 or less will be accommodated this morning and receive their money from Hunt personally. Hunt, the former president of the bank, is acting entirely independent of the receiver of the bank.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, M h., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank. Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 23-Strauss-Green Co., Toledo, O.; liabilities $115,000. assets $100.000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29--Pan-Amefican bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 6-Spartansburg, Pa., bank; capital, $25,000. 7-Coe Co., Minneapolis; liabilities, $200,000. 31-Citizens' bank, Lorain, O., as result of defalcation. Apr. 3-Ladoga, Ind., bank; assets $80,000. liabilities $109,000. 16-Owosso, Mich., private bank closes. 23-Merchants' Trust Co., New York, closed. Lexing24-Canton, O., state bank closes ton, Okla., First national bank fails. 26-Barberton, O., First national bank 27-R. H. York & Co., old Cleveland, O., brokers; liabilities, $40,000. Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands, 21-City Trust Co., Philadelphia, closes doors. 23-Vicksburg, Mich., exchange bank. 26-Knight. Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities. $125,000. 13-Citizens' bank, Yellow Springs, O.; liabilities, $50,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 10-Four Denver, Col., Western bank officials arrested on fraud charge. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. 27-Johnson & Sloan, Minneapolis, Minn.: liabilities, $200,000 First national bank, Orville, O., closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national tank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of 826,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank. Memphis, Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000.000. 29-Pan-American bank. Chicago: assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. Apr. 3-Ladoga, Ind., bank; assets $80,000. liabilities $109,000. 26-Barberton. O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 26-Knight, Donnelly & Co., Chicago. Jul. 5-Spring Valley, Ill., and Toluca, III., national banks close. 6-Hagerstown, Ind., Commercial bank: liabilities. $125,000. Aug. 3-West Liberty, Ky., bank closes. Sep. 19-Minot. S. D., national bank closes doors. Oct. C-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National. Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of 826,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank. Memphis, Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed: receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29--Pan-American bank. Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.: liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis: liabilities, $200,000. Apr 3-Ladoga, Ind., bank; assets $80,000. liabilities $109,000. 24-Canton, O., state bank closes... Lexington, Okla., First national bank fails. 26-Barberton. O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands 23-Vicksburg, Mich., exchange bank. 26-Knight. Donnelly & Co., Chicago 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, IIL, national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'eago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company. American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.
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Business Failcres Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 23-Strauss-Green Co., Toledo, O.; liabilities $115,000, assets $100,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 6-Spartansburg, Pa., bank; capital, $25,000. 7-Coe Co., Minneapolis; liabilities, $200,000. 31-Citizens' bank, Lorain, O., as result of defalcation. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 16-Owosso, Mich., private bank closes. 23-Merchants' Trust Co., New York, closed. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton, O., First national bank 27-R. H. York & Co.. old Cleveland, O., brokers; liabilities, $40,000. Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 21-City Trust Co., Philadelphia, closes doors. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities. $125,000. 13-Citizens' bank, Yellow Springs, O.; liabilities, $50,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 10-Four Denver, Col., Western bank officials' arrested on fraud charge. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. 27-Johnson & Sloan, Minneapolis, Minn.; liabilities, $200,000 First national bank, Orville, O., closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home Savingsand Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis. Tenn., close doors; first named in liquidation.