First National Bank (Vernon, TX)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
July 21, 1893
Location
Vernon, Texas (34.155, -99.265)
Bank Type
national
Charter Number
4033

Metadata

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Other: The bank initially closed its doors on Saturday morning after a run on Friday. It later attempted to resume business after complying with conditions imposed by the Comptroller of the Currency, though it ultimately went into receivership.

Receivership Details

Depositor recovery rate
52.5%
Date receivership started
1893-08-12
Date receivership terminated
1897-04-30
OCC cause of failure
Losses
Share of assets assessed as good
20.8%
Share of assets assessed as doubtful
76.3%
Share of assets assessed as worthless
2.9%

Notes

The bank initially received permission to reopen in late August 1893, but subsequent articles and the known receivership date confirm it remained closed and entered liquidation.

Events (6)

1. May 13, 1889 Chartered
Source
historical_nic
2. July 21, 1893 Run
Cause
Local Banks
Cause Details
A run was triggered by the failure of the State National Bank of Vernon earlier that day.
Measures
The bank paid out $15,000 before closing for the day.
Newspaper Excerpt
On that evening a run was made on the First National Bank which paid out about $15,000 before it closed for the day.
Source
newspapers
3. July 22, 1893 Suspension
Cause
Rumor Or Misinformation
Cause Details
Heavy withdrawals and excitement following the failure of a local competitor.
Newspaper Excerpt
The First National bank failed to open this morning, caused by the run yesterday.
Source
newspapers
4. August 12, 1893 Receivership
Newspaper Excerpt
Comptroller Eckles appointed J. W. Robinson receiver of the First National bank of Vernon, Tex.
Source
newspapers
5. August 12, 1893 Receivership
Source
historical_nic
6. August 28, 1893 Other
Newspaper Excerpt
The following National banks which recently suspended payment... were to-day permitted to reopen their doors for business: The First National Bank of Vernon, Tex.
Source
newspapers

Newspaper Articles (22)

Article from The Morning Call, July 23, 1893

Click image to open full size in new tab

Article Text

LONDON FIGURES

Carlisle Says They Must Rule. HE SUSTAINS MR. PRESTON. Over Two Hundred National Banks Have Failed Since the Beginning of the Year. Special to THE MORNING CALL. WASHINGTON, July 22.-Secretary Carlisle this morning authorized the Associated Press to state that he fully approves of the policy pursued in his absence by acting Mint Director Preston in purchasing silver, and that the same poitey will govern silver purchases in the immediate future. This statement will set at rest rumors that the Secretary would on his return reverse the policy of the treasury in purchasing silver. Preston was intrusted by Secretary Carlisle with rentirediscretion in purchasing silver when he left on his vacation. This morning with the approval of Secretary Carlisle he refused to purchase 100,000 ounces of silver at 70 cents, the London price being about 691/2 cents. This lot was part of a lot offered yesterday at 73 cents and was declined and counter offer made of 71 1/2 cents, which the holder refused to accept. This morning he offered as stated 100.000 ounces at 70 cents, but Preston informed the offerer that he only purchased silver on silver days-Mondays, Wednesdays and Fridays. The total silver purchased 80 far this month is about 1,800,000 ounces, besides some local purchases which may bring the total up to 2,000,000 ounces. It is not expected the total of 4,500,000 ounces will be purchased this month, but this does not worry the treasury officials, as Secretary Carlisle holds with Preston that the law does not require the treasury to purchase that amount in case it is not offered within the market price. Since the 1st of January nearly 200 national banks have closed their doors against less than 50 during the same period last year: five have been United States depositories, as follows: First National Bank of Little Rock, Ark.: Gate City National Bank of Atlanta, Ga.; People's National bank of Denver, Colo.: German National Bank of Denver, Colo.; Kentucky National Bank of Louisville, Ky. This latter bank, which closed its doors to-day, had, by the last report, received $320,000 of United States funds. The Government, however, will not lose anything by these failures, as each national bank that Is a Government depository has to deposit United States bonds to the amount of Government money it is allowed to carry. In addition to the heavy failure of the Government Depositors' Bank at Louisville, three other failures of national banks were reported to Comptroller Eckels this morning. The failed banks are: The State and First National banks of Vernon, Tex., capital.$100,000 and $80,000. respectively. and the State National Bank of Knoxville, Tenn.. capital $100,000. All are small institutions, the deposits in each being in the neighborhood of $100,000. The Comptroller appointed William A. Rice receiver of the Puget Sound National Bank at Everett, Wash., and George Hoffman receiver of the Bozeman National Bank at Bozeman, Mont.


Article from The Salt Lake Herald, July 23, 1893

Click image to open full size in new tab

Article Text

Texas Banks Collapse

WASHINGTON, July 22.-In addition to the heavy failure of government depositors at Louisville three other failures of national banks were reported to Comptroller Eckels this morning. The State and First National banks of Vernon, Texas, capital $100,000, assets $80,000, respectively. The comptroller has appointed William A. Rice receiver of the Puget Sound National bank at Everett, William and George Hoffman receivers of the Bozeman National, Bozeman, Montana.


Article from Fort Worth Gazette, July 23, 1893

Click image to open full size in new tab

Article Text

Vernon Failures

LA, Tex., July 22.--(Spécial.)The First National bank failed to open this morning, caused by the run yesterday. After the state bank closed its doors, J. B. Ralston filed deed of trust to secure creditors. His liabilities are three times the amount of his nssets. He was in the hardware business. The town is terribly excited. Joe Schmidt. a hardware man. made a deed of trust today Liabilities twice his assets.


Article from The Evening World, July 25, 1893

Click image to open full size in new tab

Article Text

TWO BANKS TO RESUME

Cashier Iomas of a Defunct Bank in Texas Commits Suicide. WASHINGTON, July 25.-The Comptroller of the Currency is advised that the Hutchinson National Bank, of Hutchinson, Kan., which failed some time ago, is preparing to resume business. Mr. Eckels received a despatch this morning stating that Cashier Lomax. of the First National Bank of Vernon, Tex., which failed on Saturday. committed suicide by shooting himself this morning. The First National Bank of Cisco, Tex. which suspended payment on the 3d instant, having complied with the conditions imposed by the Comptroller of the Currency, has been permitted to reopen its doors for business.


Article from The Sun, July 26, 1893

Click image to open full size in new tab

Article Text

BANK CASHIER SHOOTS HIMSELF

He was Dejected Over the Run on His Bank and the Lack of Confidence in Him, VERNON. Tex., July 25.-S. W. Lomax, cashier of the First National Bank of Vernon. shot himself this morning. killing himself instantly. He arose about half-past 5 o'clock and went into his parlor. and immediately the family heard the report of a pistol and ran into the room to find him lying on the floor dead with a revolver in his hand. He had shot himself through the heart. On last Friday the State National Bank closed its doors at noon. On that evening a run was made on the First National Bank which paid out about $15,000 before it closed for the day. The bank did not open on Saturday morning. Mr. Lomax complained bitterly of the business men of the city for whom he had been doing favors for years, and who had joined in the run on his bank. This seemed to prey upon his mind, and he was sick on Saturday and Sunday and was dejected and gloomy and his mind seemed to be unsettled.


Article from Fort Worth Gazette, July 26, 1893

Click image to open full size in new tab

Article Text

S. W. LOMAX DEAD. SUFFERING FROM NERVOUS PROSTRATION Over Business Troubles, He, in a Moment of Mental Aberration, Sends a Bullet Through His Heart. VERNON, Texas, July 25.-(Special.) -A cloud of gloom spread over our city this morning when the word came down town that S. W. Lomax, cashier of the First National bank, here, had shot and instantly killed himself. About daylight he arose from his bed, and asked his wife "why they had called him so early?" She replied that no one had called him. He then stepped into the parlor, which adjoined his bedchamber, and in R. few moments the report of a pistol was heard. Members of the family rushed to the parlor only to find husband and father, dead. The shot took effect over the left nipple, passing through the heart and causing death instantly. When the State National bank closed its doors Friday afternoon, a run was made on the First National, of which Mr. Lomax was cashier. While the bank's funds were not exhausted, at a meeting of the bank's officers Friday night it was concluded that it was best not to open Saturday morning, as there was a probability of the run on the bank being continued, and they, would be compelled to close. The closing of the bank preyed upon Cashier Lomax's mind, and he was seized with nervous prostration, and it was noticed by those who saw him that his mind was not in its normal condition. The bank was the pride of his life, and having to close its doors was too much for his mind to bear, and the heavy strain was only lifted by instant death, as described above. S. W. Lomax was one of Vernon's most progressive, active, energetic and best business men. He was ever ready to work for the best interest of our city and county, and his misfortune in business and his untimely death is deplored by everyone, and his sorrowing family have the sincere sympathy of all our people.


Article from The Indiana State Sentinel, July 26, 1893

Click image to open full size in new tab

Article Text

Three Southern Banks Fail

WASHINGTON, July 22.-In addition to the heavy failure of the government depository at Louisville three other failures of national banks were reported to Comptroller Eckels this morning, the failures occurring in sections wide apart. The failed banks are: The State national bank of Vernon, Tex., capital $100,000; the First national bank of Vernon, Tex., capital $80,000, and the State national bank of Knoxville, Tenn., capital $1,00,000. All these banks are small institutions, the deposits in each being in the neighborhood of $100,000. Governor Cooper, connected with the National bank of commerce of Denver, had an interview with Comptroller Eckels this morning as to the bank resuming business. While not assured, it is probable that arrangements may be perfected by which the bank can resume in a short times. The comptroller has appointed William A. Rice receiver of the Puget Sound national bank of Everett, Wash., and Mr. George B. Hoffman receiver of the Bozeman national bank, Bozeman, Mont.


Article from The Carbon Advocate, July 29, 1893

Click image to open full size in new tab

Article Text

Wednesday, July 26. Dr. John Rae, the noted Arctic explorer, died in London. Jostah Quincy, assistant secretary of state, intends to resign in the near future By explosions in a dynamite factory near Havre, France, nine workmen lost their lives. It is said that at the present ratio 75,000 pensioners granted under the act of June 27, 1890, will be suspended. Marshal Alexander Hamil, of Ashtabula, O., was fatally shot by two burg. lars whom he was pursuing. e Cashier Lomax, of the First National bank of Vernon, Tex., which failed ou Sat. urday, committed suicide by abooting him. self yesterday. Thursday, July 87. e Edward T. McLaughlin, a Yale university professor, is dead. The execution of the nine condemned Choctows has been postponed from Aug 4 to Sept. 8. e Thomas Jordan and John Olsen were drowned in the lake at Chicago by the capsizing of their boat. Harry Wright, the manager of the Philadelphia Baseball club, will be married in the full to a New York lady. Leo and Olio Mendoza, trapeze perform. ers, fell a distance of twenty feet in a Chicago theater and were probably fatally injured.


Article from The Austin Weekly Statesman, August 17, 1893

Click image to open full size in new tab

Article Text

FIFTY-THIRD CONGRESS

E NOTHING BUT SILVER TALK IN THE HALLS"OF CONGRESS. n Lines Have Been Drawn and Talk Amounts to Very Little, as at no Time Yesterday was There a Quorum in the House-Cleveland at Home. r WASHINGTON, Aug. 12.-The silver 18 debate in the house today did not att tract much public interest. The knowledge that no vote can possibly be reached until August 28, causes members to take little interest in the proceedihgs and it is doubtful whether there was a quorum present in the house at any time today. When the house adjourned there were not 50 representatives in the hall. f The first speaker was Wheeler (Democratic) of Alabama, who continued his speech of yesterday. Morse, (Republican) of Massachussetts, followed in favor of repealing the purchase clause of the Sherman act. Harter,(Democrat) of Ohio rose next and said he trusted to the good temper of the house to keep this question out of politics. With many interruptions Henderson of Iowa persisted in questions as to the attitude of the Democratic party at the time of the passage of the Sherman law. "Free coinage" shouted several members on the Democratic side. Harter replied that the national platform of the Democratic party was not favorable to free coinage of silver, nor had it charged the Republicans with being favorable to demonetization of silver. The Democrats nominated a man radically opposed to circulating as a dollar any coin worth less than 100 cents. He then proceeded to mark out his plan of procedure. He would have congress repeal the purchasing clause of the present law, authorize the national banks to issue a circulation to the full extent of their bonds and direct the secretary of the treasury to provide for the issue of gold bonds. Bowers (Republican) of California spoke for free coinage of silver. Delegate Rawlins (Democrat) of Utah also lent his voice in favor of free coinage. At the conclusion of Rawlins' remarks the house adjourned until Monday. NAVAL CHANGES. The United States steamer Charleston started from Hampton Roads this morning for Valparaiso, Chile. The Charleston will relieve the Philadelphia at Callao and the Alliance in Nicaraguan waters. The Philadelphia is going to Honolulu to relieve the Boston and the Alliance sails for Samoa. BANK RECEIVER APPOINTED. Comptroller Eckles appointed J. W. Robinson receiver of the First National bank of Vernon, Tex. NO MORE YELLOW FEVER. Surgeon General Wyman is informed that no new cases of yellow fever have appeared at Pensacola and ex. citement is rapidly subsiding. NO CAUSE FOR ACTION. The senate Democratic caucus committee has adjourned till Monday, when it will meet again. Owing to the agreement reached in the house, the committee sees no reasen for action on its part. For the same reason the finance committee may take time in fixing various measures referred to it. COINING BULLION. Speaking of the proposition for immediate coinage of silver bullion as a means of relieving the currency famine the treasury officials point to the fact that it would take five years with the present facilities to convert the bullion into dollars, and certificates could only be issued to the extent of the profits realized as fast as realized. SILVER EXECUTIVE COMMITTEE. The executive committee appointed by the Chicago silver convention met today in this city and tonight issued an appeal to the people to stand by white metal and to force their representatives to do likewise in congress. CHEROKEE STRIP OPENING. It is expected that the Cherokee outlet will be opened between the 11th and 14th of September. INSPECTING BAGGAGE. Surgeon General Wyman has ordered that no baggage of the passengers on the Massilia pass through Ellis island without a certificate from the quarantine officers at New York, countersigned by the marine hospital inspector. YELLOW FEVER PRECAUTIONS. WASHINGTON, Aug. 12.-Sergeant General Wyman this morning re. ceived the following telegram from Past Assistant Surgeon Magruder of the marine hospital service, stationed at Pensacola, Fla., touching yellow fever outbreak there: "No new or suspicious cases have appeared since the twodeaths already reported. Excitement is rapidly subsiding. A house to house inspection was begun today by order of state health officers, 5d will be completed Sunday. Ae


Article from Pawtucket Tribune, August 29, 1893

Click image to open full size in new tab

Article Text

Texas Banks to Reopen

WASHINGTON, Aug 29.-The following national banks, which recently suspended payment, their capital being unimpaired, have been permitted to resume business: The First National bank of Vernon, Tex.; the First National bank of San Marcos, Tex., the First National rank of Lockhart, Tex.


Article from New-York Tribune, August 29, 1893

Click image to open full size in new tab

Article Text

AFFAIRS OF WESTERN NATIONAL BANKS

Washington, Aug. 28.-The following National banks which recently suspended payment, having complied with the conditions imposed by the Controller of the Currency, and their capital being unimpaired, were to-day permitted to reopen their doors for business: The First National Bank of Vernon, Tex.: the First National Bank of San Marcos, Tex., and the First National Bank of Lockhart. Tex. Controller Eckels has appointed Stewart Rice receiver of the Washington National Hank of Tacoma. Wash. The First National Bank of York, Neb., suspended to-day.


Article from The Providence News, August 29, 1893

Click image to open full size in new tab

Article Text

To Start Up Again

WASHINGTON, Aug. 29.-The following national banks, which recently suspended payment, their capital being unimpaired, have been permitted to resume business: The First National bank of Vernon, Tex.; the First National bank of San Marcos, Tex.; the First National bank of Lockhart, Tex.


Article from Daily Kennebec Journal, August 30, 1893

Click image to open full size in new tab

Article Text

Texas Banks to Reopen

W ASHINGTION, Aug. 20.-The following national banks, which recently suspended payment, their capital being unimpaired, have been permitted to resume business: The First National bank of Vernon, Tex: the First National bank of San Marcos, Tex., the First National bank of Lockbart, Tex.


Article from The Comet, September 7, 1893

Click image to open full size in new tab

Article Text

BANKS THAT HAVE RESUMED AN AVERAGE OF ONE A DAY, WITH MORE IN PROSPECT. The banks that have suspended resumed during the past two weeks, as follows: Greeley National bank, Greeley, Col., Aug. 14. Armourdale bank, Armourdale. Mo, Aug. 16. First National bank, Fort Scott, Kan., suspended July 18, resumed Aug. 16. First National bank, Rico, Col., suspended June 30, resumed Aug, 16. American National bank, Leadville, Col., closed its doors July 1, resumed Aug. 17. First National Bank, Anthony, Kan., suspended July 20, resumed Aug. 18. Union National bank, Denyer, Col., suspended July 18, resumed Aug. 21. Citizens' National bank, Attica, Ind.. Aug. 21. People's National bank, Denver, Col., suspended July 19, resumed Aug. 21. Central National bank, Pueblo, Col., suspended July 5, resumed Aug. 21. Hamilton County State bank, Fort Dodge, Ia., suspended Aug. 7, resumed Aug, 21. City Saving bank, Nashville, Tenn., Aug. 22. Henning's bank, Plain, Ill., Aug 22. First National bank, The Dalles. Ore., suspended July 31, resumed Aug. 25. Fourth National bank, Louisville, Ky., suspended July 22, resumed Aug. 26. Comptroller of the Currency Eckels has fixed the time for the resumption of several suspended banks as follows: Farmers' Exchange bank, San Bern ardino, Cal., Aug. 25. The Fall River (Wis.) bank, Aug. 25. First National (Mankato, Minn.) Sept. 1. Mankato National, Mankato, Minn., Sept. 1. Citizens' National, Mankato, Minn., Sept. 1. Permission to resume has also been given to the following banks: First National, Vernon, Tex. First National, San Marcos, Tex. First National, Lockhart Tex. The stockholders of the National, bank of Kansas City, Mo., met Friday and decided to resume busin SS.


Article from Santa Fe Daily New Mexican, January 30, 1894

Click image to open full size in new tab

Article Text

NATIONAL NOTES

The Bond Injunction Denied-Presidential Nominations-Bell Telephone Patent. SOVEREIGN'S APPLICATION DENIED. Washington, Jan. 30.-Judge Coxe, of the district supreme court, declined to grant the application of the Knights of Labor to compel Sec. Carlise to show cause why he should not be enjoined from issuing $50,000,000 bonds as proposed in his recent bond circular. GOULD GETS IT. George T. Gould, of East Las Vegas, was this afternoon appointed postmaster for that city. NEWLY NOMINATED. The president has sent the following nominations to the senate: Collector of Customs, John T. Gaffey, at Los Angeles, Cal. Marshals of the United States, Wm. P. Donaldson, of the northern district of Iowa; Charles R. Pratt, of the western district of Michigan. Attorneys of the United States-Alfred K. Lyon, of the eastern district of Michigan; John Power of the western district of Michigan; Robert S. Culberson, of the western district of Texas. Commodore John Grimes Walker to be admiral. Postmasters-W. D. Neeley, at Waxahachie, Texas; A. W. Dirbrell, at Seguin, Texas. CONCLUDED ITS LABORS. The senate com.mittee, investigating the diplomatic relations of this government and Hawaii, has concluded its work. BELL TELEPHONE PATENT EXPIRED. The patent on the Bell telephone expired to-day. DIVIDEND DECLARED. The comptroller of the currency to-day declared a 25 per cent dividend to the creditors of the First National bank of Vernon, Texas. HOAR HA8 AN IDEA. Senator Hoar has introduced in the senate a bill giving suspended pensione ers the right to appeal their cases to the United States court of their districts P after giving due notice of such intention a to the commissioner of pensions. 8 HOPE FOR THE UTES. Representative Bell has finally succeed8 ed in inducing the commission of Indian affairs to permit the southern Ute agent B and Ignacio to come to Washington to testify before the house Indian committee in regard to the Ute removal bill. Ignacio can bring any interpreter he wants, but both must come without exg pense to the government.


Article from San Antonio Daily Light, January 30, 1894

Click image to open full size in new tab

Article Text

LATE TELEGRAMS BOILED DOWN FROM PRIVATE SPECIALS AND OTHER SOURCES. Wheatley's residence burned at Fort Worth. The Czar is ill with influence and bronchitis. Moonlight of Kansas is appointed minister to Russia. The Clark people in Dallas ridicule the speech of Hogg. Miss Rosina Vokes dies at Babscome, Torquay, England. Vast numbers of pauper Jews leave Odessa for London. Kyle has a case of outrage on a three-year-old negro child. The forces of the census bureau are being cut down rapidly. British bark Port Yarrock lost and her crew of 25 drowned. None of the New York banks have bid for Carlisl-'s bonds. Minnesota declares the antiscalpers law unconstitutional. Hawaiian affairs and elections occupied the time of the Senate. Many persons freeze to death in Russia owing to the intense cold. Cellars & Co., St. Louis merchants, burned out: loss $70,000. Dr. August Hirsch, noted German physician and pathologist, is dead. Senate postpones consideration of Peckham's confirmation for one week. The Garland News of Dallas county is out for Culberson for Governor. Earnest gets no reply as to the status of his appointment as collector. The controversy between the Colorado Senate and the governor continues. Rob. Culberson appointed U.S. attorney for the western district of Texas. Governor McKinley will speak at the Kansas Chatauqua in Ottawa next June. The U.S. fleet in Rio bay escort American vessels to the pier and protect them. The debate on the income tax amendment to the tariff bill occupies the House. Judge Wing for the Coughlin defense charges the prosecution with shadowing him. First National bank of Vernon is ready to pay its creditors a dividend of 25 per cent. Peace negotiations between the Brazil beligerents are not progressing favorably. Barry is given the Dallas mayoralty by the courts and will ignore the special election. Herman Mooz, Jewish novelist and poet, dies suddenly of heart diease at Cincinnati. Work on that Brownsville road will soon be commenced, SO writes Miller from New York. Garrett Scott, who killed McGlone at Houston last week is bailed in the sum of $10,000. Hogg's speech was disappointing to north Texas, as not being definite as to harmonization. Fort Worth Gazette goes into the hands of a receiver, but the paper makes no changes. Fifer's old adjutant general S ues the Louisiana lottery company for $25,000 damage; false report. Mrs. Richards of Brenham, railroads an insolent tramp out of her house with a shotgun. The injunction against the Carlisle bond issue has been heard and decision will be rendered soon. The caucus ballotting for a successor to Senator Waltball does not determine anything so far. Mexican bandits routed in Chihuahua and twenty-six killed, and as many more taken prisoners. Ochoa, the Chihuahua bandit, is ue to be dead from wonnds


Article from The Houston Daily Post, February 16, 1894

Click image to open full size in new tab

Article Text

THE WOODS TRIAL.

The trial of Tom J. Woods, Jr., was resumed in the Federal court this morning. Ex-Receiver Daniel C. Baxter was on the stand until court adjourned for dinner. His testimony was not sensational. He identified notes signed by Thomas J. Wood for Wood & Willams and stated that $209,000 of the notes were found in the bank. He was asked if Wood did not turn over his diamonds and other personal property to him. This question was asked by Colonel Seay for the defense. Witness answered "Yes, I did." Later it developed that the wife of the prisoner claimed the diamonds as her own personal property and Receiver Baxter returned the precious stones to the lady.

Receiver H. T. Morgan was called as a witness this afternoon. He testified as to the condition of the assets when the wrecked bank passed into his hands. The deficit was very large and the stockholders had to put up $180,000 to square accounts.

District Attorney Eugene Marshall then offered the books of the bank, now in the hands of the receiver, in evidence. The defense objected and wanted permission to investigate the books. Judge Rector granted the request and from 5 o'clock to 7 o'clock this evening the attorneys for Wood inspected the books. Receiver Morgan and a deputy United States marshal were present.

From the evidence adduced Wood speculated on a large scale in real estate and cotton, particularly in the former. He used the funds of the bank and gave his own notes for the same. If the boom bubble had not been pricked he would have made a large fortune and been a Napoleon of finance today instead of a prisoner in the dock. The trial will last several days. J. M. Regan, Indicted for subordination of perjury in the bond of the case, was released today, having made an acceptable bond of $2500.

A. M. Brittain, president of the First National Bank of Vernon, had six indictments returned against him by the Federal grand jury. One is a "Jumbo" indictment and contains many specifications. Two members of Brittian's family were also indicted in connection with the same bank failure.


Article from Fort Worth Gazette, February 16, 1894

Click image to open full size in new tab

Article Text

WOODS' TRIAL

PRISONER CAME NEAR BEING A NAPOLEON OF FINANCE. The Collapse of a "Boom" Bubble All That Prevented-Six Indictments Against Britton-Two Members of His Family Are Indicted. Special Dispatch. Dallas, Tex., Feb. 14.-The trial of Tom J. Woods, Jr., was resumed in the Federal court this morning. Ex-Receiver Daniel C. Boxter was on the stand until court adjourned for dinner. His testimony was not sensational. He identified notes signed by Thomas J. Wood for Wood & Williams, and stated that $209.000 of these notes were found in the bank. He was asked if Wood did not turn over his diamonds and other personal property to him. This question was asked by Col. Seay, for the defense. Witness answered, "Yes, he did." Later it developed that the wife of the prisoner claimed the diamonds as her own personal property, and Receiver Boster returned the precious stones to the lady. Receiver H. T. Morgan was called as a witness this afternoon. He testified us to the condition of the assets when the wrecked bank passed into his hands: The deficit was very large and the stockholders had to put up $180,000 to square accounts. District Attorney Eugene Marshall then offered the books of the bank, now in the hands of the receiver, in evidence. The defense objected and wanted permission to investigate the books. Judge Rector granted the request and from 5 o'elock to T o'clock this evening the attorneys for Wood inspected the books. Receiver Morgan and a deputy United States marshal twere present. From the evidence adduced, Wood speenlated on a large scale in real estate and cotton. particularly in the former. He used the funds of the bank and gave his own notes for the same, If the boom bubble had not been pricked he would have made a large fortune and been a Napoleon of finance today instead of a prisoner in the dock. The trial will last several days. J. M. Regan, indicted for subordinatiou of perjury in the bond case, was released today, having made an acceptable bond for $2500. A. M. Brittain, president of the First g National bank of Vernon, had six indictments returned against him by the Federal grand jury. One is n "jumbo indictment" and contains many specificais tions. Two members of Brittain's fame ily were also indicted in connection with y the same bank failure. y


Article from The Coconino Weekly Sun, February 22, 1894

Click image to open full size in new tab

Article Text

MISCELLANEOUS

ROBERT PERRY and his little sister were poisoned from eating wild parsnip roots at Gallipolis, O., and died in great agony five minutes apart. IT is thought Gov. Northen's action in endeavoring to prevent prize fighting in Georgia will become an issue in politics. THE treasury recommends that the beacon light of the statue of liberty in New York harbor be extinguished. The cost of the light for seven years has been $64,759.92. According to the lighthouse board, the beacon is not an aid to navigation. CARLO THIEMAN, the attendant in Daniel Boone's wild animal show, San Francisco, who was horribly mangled by three lions, had a change for the worse and was in a very critical condition. THE steamer City of Paducah ran into the Tennessee river bridge at Paducah, Ky. She was considerably damaged and the bridge superstructure was shaken. ONE of the dormitories at the Rosebud Indian agency in South Dakota has burned. Loss, $50,000. The building was erected in 1889, and accommodated 200 children, some of whom narrowly escaped with their lives. THE Paris police announces that it seems to be definitely established that the Hotel Terminus bomb thrower's name is Emile Henry and that he was born at Barcelona, Spain, on September 26, 1872, of French parents. JUDGE CALDWELL at St. Louis overruled Judge Dundy's order concerning the schedule of wages on the Union Pacific. Judge Caldwell says Dundy should have consulted the men when he listened to the receivers. The employes were quite jubilant over the turn of affairs. P. J. SWASEY, a wealthy liquor merchant of Fort Worth, was arrested at Dallas, charged with wrecking the First national bank of Vernon, Tex. THE coal mine at Blocton, Ala, is on fire. The pumper was suffocated to death. Five hundred men are thrown out of work. THE boiler in Lockwood's elevator at Kelly, Ia., exploded, killing John Tanner and fatally injuring William Sells. JONES, WITTER & Co.'s dry goods and notions, Columbus, O., was destroyed by fire. Loss over $200,000 on stock; well insured. IT is reported that thousands of cattle are perishing in the Texas Panhandle as a result of the recent storm. MRS. ANDREW Foy, of Chicago. who has been the principal witness against Daniel Coughlin, has sued her husband for divorce. She claims he has deserted her ever since she testified in the trial. THE people of Cross, Ok., are indignant at the villainous lies sent out by the Associated press of a father killing his family while insane from the blizzard and of children and other persons perishing from cold.


Article from San Antonio Daily Light, September 24, 1894

Click image to open full size in new tab

Article Text

Texas Bank Receiver Appointed

WASHINGTON, Sept. 24.-The comptroller of the currency has appointed T. W. Robinson, receiver of the State National bank of Vernon. Robinson is also receiver of the First National bank of Vernon.


Article from Fort Worth Gazette, September 24, 1894

Click image to open full size in new tab

Article Text

Hoss of Both Banks

Washington, Sept. 22.-Comptroller Eckels who returned today will appoint a receiver for the failed State National bank at Vernon, Texas, on Monday. He will appoint T. Windsor Robinson, who is already acting as receiver, for the First National bank of Vernon which failed some time ago, This appointment in made both for economy and to save trouble in the Instruction of a new receiver. Postoffices were established at Burgess, in Bell county, Jesse Burgess, postmaster, and at Sycamore, in Wine county, David S. Cox postmaster.


Article from Pine Bluff Daily Graphic, September 25, 1894

Click image to open full size in new tab

Article Text

Robinson Receiver

WASHINGTON, Sept. 25.-The comptroller of the currency has approved T. W. Robinson receiver of the State Na. tional bank of Vernon, Tex. Robinson is also receiver for the First National bank there.