6019. Leavenworth State Bank (Leavenworth, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 13, 1897
Location
Leavenworth, Indiana (38.200, -86.344)

Metadata

Model
gpt-5-mini
Short Digest
9cfa570d

Response Measures

None

Description

Multiple articles (Nov 13-19, 1897) report the Leavenworth bank failed to open its doors (closed), cashier R. H. Willett missing, and evidence of irregularities; receivers were discussed/selected. No run or depositor crowding is described. Cause appears to be bank-specific misconduct/irregularities leading to suspension and permanent failure/receivership.

Events (2)
1. November 13, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed after discovery of irregularities; cashier R. H. Willett missing/absent and alleged misconduct; principal stockholder implicated.
Newspaper Excerpt
LEAVENWORTH, Nov. 13.-Three banks, respectively located in this city ... have closed their doors. R. H. Willett, cashier of the parent bank in this city, and principal stockholder in the other two concerns, has left for parts unknown.
Source
newspapers
2. November 14, 1897 Receivership
Newspaper Excerpt
A meeting of the depositors was held this afternoon to choose men for receivers, subscribe reward money and means to prosecute.
Source
newspapers

Newspaper Articles (12)
1. November 14, 1897 The Herald Los Angeles, CA
Article from The Herald, November 14, 1897

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Article Text

BROKEN BANKS Indiana and Wisconsin Depositors Are the Sufferers ENGLISH, Ind., Nov. 13.-The English Bank has failed to open its doors today. Coupled with this came the report that President Willett, of the Leavenworth branch. had not been seen for three days and that his mind was temporarily unbalanced over the death of his mother. As soon as the failure became known, the bank's branches at Leavenworth, Cannelton and Marengo, also closed. Nearly every farmer and business man in Crawford and Perry counties is said to be concerned in the failure for amounts ranging from $200 to $3000 County Treasurer Brown had placed more than $10,000 with the suspended bank. No schedule of assets and liabilities can be given, but both are large. ANTIGO, Wis., Nov. 13.-The Bank of Antigo closed its doors today by order of the Board of Directors on account of irregularities in the books as found by the bank examiner. An application was made for a receiver. Deposits will be paid in full. The extent of the irregularities is not known. LEAVENWORTH, Nov. 13.-Three banks, respectively located in this city and at Marengo and English, with deposits estimated to aggregate $160,000, have closed their doors. R. H. Willett, cashier of the parent bank in this city, and principal stockholder in the other two concerns, has left for parts unknown. His wife has received a letter from him stating that he has almost lost his mind and that he will not return to the scene of financial disaster. County officials and educational trustees are sufferers from the crash, and one death may be the direct result. Treasurer E. P. Brown of Crawford county, had upwards of $30,000 county funds deposited in the bank in this city. When told today of the failure he fainted and tonight he is in a critical condition. The revenue collected for school purposes was all on deposit in the banks and it is feared that all of the public schools in Crawford and Perry counties will have to be closed, as the trustees have lost all their money. SPOKANE-Postmaster Mallon today caused the arrest of Mayor Olmstead, A. A. Newberry, E. B. Hyde and D. F. Wetzel, all prominent citizens. They were officers and directors of the defunct Citizens' National bank, which failed with a deposit of $8,110 of postoffice money. As the bank was not a United States depository the loss fell upon Postmaster Mallon's bondsmen. He charges the defendants with taking his deposits "knowing that the bank was then and there insolvent and in failing circumstances."

2. November 15, 1897 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, November 15, 1897

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Article Text

SWELLED TO $500,000 LIABILITIES OF THE FAILED LEAVENWORTH BANKERS GROWING. Offer of 75 Per Cent. to Creditors if They Will Refrain from ViolenceCashier Willett Not Yet Located. Associated Press Dispatch. ENGLISH, Ind., Nov. 14.-Bank Cashier Richard H. Willett, of the failed Leavenworth Bank, has not been heard from, but) John H. Weathers is said to have telegraphed to friends here that he will return and pay 75 per cent. if the depositors will accept it and protect him from injury. It is thought this will be accepted. Weathers and his wife are heavy property holders at Leavenworth. Since Weathers left here Friday morning his wife has been in Leavenworth. The present estimate of liabilities, including county and township moneys, private deposits, borrowed money and debts among merchants from whom they purchased electric machinery and other stock is $500,000. A meeting of the depositors was held this afternoon to choose men for receivers, subscribe reward money and means to prosecute.

3. November 15, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 15, 1897

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Article Text

OFFERS TO COMPROMISE. Officer of a Defunct Bank Wants to Settle With Depositors. ENGLISH. Ind., Nov. 14.-Bank Cashier Richard H. Willett. of the failed Leavenworth bank. has not been heard from. but John H. Weathers is said to have telegraphed to friends here that he will return and pay is per cent. If the depositors will accept and protect him from Injury. It is thought this will be accepted. Weathers and his wife are heavy property holders in Leavenworth. The present estimate, including county and township moneys, private deposits, borrowed money and debts among merchants from whom they purchased machinery and other stock, is $500,000. A meeting of depositors was held this afternoon to choose men for receivers, to subscribe reward money and means to prosecute.

4. November 15, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, November 15, 1897

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Article Text

INDIANA BANK DEPAULTERS. One Not Heard From, But the Other Agrees to Compromise. English, Ind., Nov. 14.-Bank Cashier Richard H. Willett, of the failed Leavenworth bank, has not been heard from, but John H. Weather is said to have telegraphed to friends here that he will return and pay 75 per cent, if the depositors will accept and protect him from injury. It is thought this will be accepted. Weathers and his wife are heavy property holders at Leavenworth. Since Weathers left here Friday morning, his wife has been in Leavenworth. The present estimate, including county and township moneys, private deposits, borrowed money and debts among merchants, from whom they purchased electric machinery and other stock. is $500,000. A meeting of the depositors this afternoon was held to choose men for receivers, subscribe reward money and means to prosecute.

5. November 15, 1897 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, November 15, 1897

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Article Text

OFFERS TO PAY THREE-FOURTHS. President of Wrecked Bank Makes a Proposition. ENGLISH, Ind., Nov. 14.-Bank Cashier Richard H. Willett of the failed Leavenworth bank has not been heard from, but John H. Weathers is said to have telegraphed to friends here that he will return and pay 75 per cent if the depositors will accept and protect him from injury. It is thought this will be accepted. Weathers and his wife are heavy property owners at Leavenworth. Since Weathers left here Friday morning his wife has been in Leavenworth. The present estimate, including county and township moneys, private deposits, borrowed money and debts among merchants from whom they purchased electric machinery and other stock, is $500,000. A meeting of the depositors this afternoon was held to choese men for receivers, subscribe reward money and means to prosecute.

6. November 16, 1897 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, November 16, 1897

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Article Text

READY TO PROSECUTE. Creditors at English Anxious to Get Hold of Willett and Weathers. Special to the Indianapolis Journal. ENGLISH, Ind., Nov. 15.-It has been ascertained that John H. Weathers, ex-banker, is in or near Corydon, waiting for a compromise of his affairs in Crawford county. It is said he fears violence and will not come until certain of protection. Another report is that Weathers has made an assignment to Judge N. R. Peckinpaugh, of Louisville, an ex-associate in law. Weathers and the wives of Weathers and Willett promised yesterday to assign their property to the depositors. There is still much excitement over the failure, and hundreds of people were in town today to hear the latest news. Charles Weathers, attorney from Cannellton, and cousin of John H., is here in the interest of his relative. Hon. W. T. Zenor, of Corydon, Sweeney & Millburne, of Jasper, with three local attorneys, and, it is reported, Charles Jewett, of New Albany, have been retained by the depositors. A meeting of the depositors was held to choose men for receivers, subscribe money for reward and means to prosecute. Captain Holcraft, of Meade county, Kentucky, and a cousin of Mrs. Willett, is said to have sent word that he will surpàss the liberality of any in his subscription. It is now stated here that the Bank of English will pay nearly dollar for dollar. At least, friends of President John H. Weathers, of the bank, affect to believe this. R. H. Willett, cashier of the Leavenworth Bank, and principal stockholder of the three banks mentioned, is still missing. His wife received a letter Saturday stating that he was gone for good. He said he was solely responsible for the failure. The failure will seriously cripple the county township trustees, all of whom deposited with the broken banks. As near as can be ascertanied there was about $60,000 deposited at Leavenworth, $30,000 at English and $15,000 at Marengo. County Treasurer E. B. Brown stated this morning that he had less than $12,000 of the county's money deposited. Among the largest depositors in the county are B. F. Clark, county clerk, $3,000; John T. Holcraft, $7,000; Si Shaw, $6,000; E. G. Boyd, $1,000; Duffin & Gregory, $1,500. An approximation of the deposits reaches $300,000 in the three banks, and other liabilities $26,000.

7. November 17, 1897 The Breckenridge News Hardinsburg, Cloverport, KY
Article from The Breckenridge News, November 17, 1897

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Article Text

SHORT FULLY HALF A MILLION. Seventy-Five Per Cent Promised Deposit. ors in Case of No Prosecution. ENGLISH, Ind., Nov. 15.- Bank Cashier Richard H. Willett of the failed Leavenworth bank, has not been heard from, but John H. Weathers is said to have telegraphed to friends here that he will return and pay 75 per cent if the depositors will accept and protect him from injury. It is thought this will be accepted. Weathers and his wife are heavy property holders at Leavenworth. Since Weathers left here Friday morning his wife has been in Leavenworth. The present estimate, including county and township moneys, private deposits, borrowed money and debts among merchants, from whom they purchased electric machinery and other stock, is $500,000. A meeting of the depositors yesterday afternoon was held to choose men for receivers, subscribe reward money and means to prosecute.

8. November 18, 1897 Union County Courier Elk Point, SD
Article from Union County Courier, November 18, 1897

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BANK FAILURE BRINGS MISERY. Relatives of Indiana Financiers Bowed Down with Grief. Nothing has yet been heard from R. H. Willett, the defaulting cashier of the Leavenworth, Ind., bank, whose collapse carried down the banks at English and Marengo, and it is now regarded likely that he has drowned himself in the Ohio river. He was under a terrible mental strain for months before the crash came. Willett's wife is hysterical and uneonscious. His grandmother offers to give $50,000 to relieve him if he returns. The Holerafts, the woman's relatives, recognizing his wife's approach to death, propose to help him out. John Weathers has assigned all his property to Judge N. R. Peckinpaugh of Louisville and the Ouerbackers of Louisville, who are Peckinpaugh's brothers-inlaw. Peckinpaugh was Weathers' law partner before the former's appointment as Governor of Alaska. Steps have been taken to have the methods of Willett and Weathers investigated, and a numerously signed petition was addressed to Judge Cook asking him to call the grand jury in special session.

9. November 18, 1897 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, November 18, 1897

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Article Text

Wants to Pay Part. English, Ind., Now. 14.-Bank Cashier Richard W. Willett of the failed Leavenworth bank has not been heard from, but President John H. Weathers is said to have telegraphed to friends here that he will return to pay 75 per cent of the depositors' claims if they will protect him from injury. It is thought this will be accepted. Weathers and his wife are heavy property holders at Leavenworth. The present estimate of the bank's liabilities. including county and township moneys, private deposits, borrowed money and debts among merchants from whom they purchased electric machinery and other stock, is $500,000. A meeting of the depositors was held this afternoon to choose men for receivers, subscribe reward money and means to prosecute.

10. November 19, 1897 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, November 19, 1897

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Article Text

Crawford Co. Banks Closed. ENGLISH, IND., Nov. I4.-Bank Cashier Richard H. Willett of the failed Leavenworth bank has not been heard from, but John H. Weathers is said to have telegraphed to friends here he will return and pay 75 per cent if the depositors will accept and protect him from injury. It is thought this will be accepted. Weathers and wife are heavy property holders at Leavenworth, Ind. Since Weathers !eft here Friday morning his wife has been in Leavenworth, Ind. The present estimate, including the county and township moneys, private deposits, borrowed money and debts among merchants from whom they purchased electric machinery and other stock is $150,000. A meeting of depositors this afternoon was held to choose a man to receive and subscribe reward money and means to prosecute. Crawford county was thrown into a high state of excitement Saturday morning on the failure of the Leavenworth bank and the banks at English and Marengo. These institutions have been under the management of R. H. Willett, and the deposits in each bank were heavy. All the money collected by the county treasurer on the last installment of taxes was deposited in the bank of English. The trustees of the different townships having their money deposited have been ordered by the county superintendent to their schools an stop till investigation can be made. Nearly every business man in the county was caught, some for large amounts. An autobiography recently published in England is that of "Charlie Wilson," or Catherine Coomes, who masqueraded for forty-two years in male attire in that country. During that time she was married to two women and they lived with her e for years without betraying the secret. As "Charlie Wilson" she earned two pounds a week, though in her own name obtain one it she could and but proper pound dress 8 She confesses that her wives gave her considerable trouble by running her into debt. s,

11. November 20, 1897 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, November 20, 1897

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McKinley Dun's Review of November 13 says:-Failures for the week have been 291 in the United States against 276 for the same week last year. J. B. Fried & Co., Macon, Georgia, wholesale dealers in dry goods and notions, have give a chattel mortgage for $66,900. Julius M. Fineberg, clothing manufacturer at Boston, has made an assignment. The Bauer- Walter Buggy and Carriage Co., of St. Louis, has given a trust deed for $11,815. Sortman & Blum Co., Hamilton, Ohio, manufacturer of furniture. has made an assignment. A receiver has been appointed for the Michigan Lumber and Manufacturing Co., of Jacksonville, F.orida. Belew & Co., Wills Point, Texas, general store, have given a trust deed. Henry A. Meyer, dealer in millinery, at Chicago, has confessed judgment. In Baltimore county, Md., 74 pieces of property are advertised for sale to pay county taxes. J. C. Renfro., of Marlin, Texas, grocer, has given a trust deed. Max Morris, doing business as M. Morris & Co., dealer in clothing, at La Crosse, Wisconsin, has given a bill of sale for $18,000. Geo. Newman, Bowling Green, Ohio, dealer in clothing, has made an assignment. INDIANAPOLIS, INDIANA, Nov. 14.-There is intense excitement at English and throughout Crawford and Perry counties over the collapse of four banks, which will affect nearly every man of means in the two counties and seriously cripple the local office-holders, inclading the County Treasurers and Township Trustees, all of whom deposited trust funds with the broken banks. The crash came without warning, for no one suspected that the four institutions which have gone under were not on a safe financial-footing. As late as Friday afternoon each of the banks continued to receive deposits, and when they failed to open their doors yesterday morning, there was consternation among the business men. some of whom had deposited so closely Friday afternoon that they did not even have change to begin business with yesterday morning. The banks were owned by J. H. Weathers and R. H. Willett. One had been established at English, another at Marengo, another at Cannellton and a fourth at Leavenworth. The capital stock of each was $50,000 and the deposits averaged about $75,000, being heaviest at this season of the year, when county taxes have all been paid and the Treasurer has deposited the money. The revenue collected for school purposes was all on deposit in the banks, and it is now believed that all of the public schools in the two counties will have to be closed, as the trustees have lost all their money. Treasurer Brown, of Crawford county, had $13,500 on deposit. He is completely prostrated by the failure. The trustees' deposits ranged from $1,600 to $2,800, and nine of them have been caught in the four banks. President Willett, of the Leavenworth Bank, has not been at the office for several days. The monthly statement issued by the Burean of Statistics shows that the exports of domestic merehandise during October amounted to $109,583,842. a loss of nearly $2,500,000, as compared with October, 1896. The imports amounted to $49,969,813, of which $24,334,333 was free of duty. All the departments of the British Hosiery Company, at Thornton, Rhode Island, with the exception of the spinning department, were shut down on Monday and 425 operatives are out of work. Some time ago the knitters to the number of fifty struck for an advance of 20 per cent. in wages. Treasurer Cooper says he had found the operatives who remained at work were supporting those on strike, and hence the shut down. It is announced that operatives will be taken back only as they apply for work as individuals. The coal miners of the Bellville, Illinois, district have refused to submit the pending wage dispute to arbitration, and insist on the Springfield scale of "372 cents to weight." The one hundred miners at the Glen Coal Company's mine, at Glencoe, Ohio, went out on a strike on Tuesday against a reduction of wages. A Chattanooga despatch says that the operators of the Cross Mountain coal mines in the Jellico region are preparing to put in electrical apparatus for mining coal, and have notified the men that they will only be paid half the price for mining the coal. A general strike, the men say, will follow. A Houghton, Michigan, despatch says that the company officials have notified the 120 striking trammers of the Atlantic Mine that unless they return to work at once new men will be employed in their places. The Sam Fine Company, in Cincinnati, was placed in the hands of receivers. Liabilities, $50,000 to $60,000; assets, $75,000 to $90,000. The company was organized to sell the product of the Kaufmann Brewing Company while it was in the hands of receivers. The Delta County Bank, of Delta, Colorado, suspended. The deposits are about $52, 000.

12. November 25, 1897 Crawford Avalanche Grayling, MI
Article from Crawford Avalanche, November 25, 1897

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BANK FAILURE BRINGS MISERY Relatives of Indiana Financiers Bowed Down with Grief. Nothing has yet been heard from R. H. Willett, the defaulting cashier of the Leavenworth, Ind., bank, whose collapse carried down the banks at English and Marengo, and it is now regarded likely that he has drowned himself in the Ohio river. He was under a terrible mental strain for months before the crash came. Willett's wife is hysterical and unconseious. His grandmother offers to give $50,000 to relieve him if he returns. The Holcrafts, the woman's relatives, recognizing his wife's approach to death, propose to help him out. John Weathers has assigned all his property to Judge N. R. Peckinpaugh of Louisville and the Ouerbackers of Louisville, who are Peckinpaugh's brothers-inlaw. Peckinpaugh was Weathers' law partner before the former's appointment as Governor of Alaska. Steps have been taken to have the methods of Willett and Weathers investigated, and a numerously signed petition was addressed to Judge Cook asking him to call the grand jury in special session.