6037. State National Bank (Logansport, IN)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
2596
Charter Number
2596
Start Date
May 21, 1897
Location
Logansport, Indiana (40.754, -86.357)

Metadata

Model
gpt-5-mini
Short Digest
f2944e03

Response Measures

None

Receivership Details

Date receivership started
1898-09-27
OCC cause of failure
Losses
Share of assets assessed as good
2.2%
Share of assets assessed as doubtful
47.2%
Share of assets assessed as worthless
50.7%

Description

The State National Bank of Logansport was closed by the national bank examiner after discovering large shortages and alleged embezzlement by President John F. Johnson (May 20–22, 1897). A receiver was discussed and later (Sept 1898) a receiver was named; meanwhile local subscription and a deal for the City National Bank to buy assets and assume liabilities led to a reorganization and reopening (June 1897). No newspaper describes a depositor run; cause is bank-specific malfeasance/mismanagement/embezzlement.

Events (8)

1. December 7, 1881 Chartered
Source
historical_nic
2. May 21, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Examination revealed massive mismanagement and large amounts of bad paper and notes; president John F. Johnson alleged to have embezzled/forged large sums ($100,000+; totals reported up to $350,000).
Newspaper Excerpt
The State National bank closed its doors yesterday morning. The action was due to an examination by National Bank Inspector George B. Caldwell
Source
newspapers
3. May 22, 1897 Other
Newspaper Excerpt
Bank Examiner Caldwell swore out an affidavit charging John F. Johnson, president of the State National bank, with embezzlement, misappropriation of funds and with intention to defraud the bank. Forgery is also charged to President Johnson, and the examiner thinks the amount will run up to $201,000.
Source
newspapers
4. June 16, 1897 Other
Newspaper Excerpt
The City National will buy out the assets of the failed State National, and assume its liabilities...the new institution will be ready for business on the Monday following.
Source
newspapers
5. June 21, 1897 Reopening
Newspaper Excerpt
The directors of the new City National Bank at Logansport... The City National will buy out the assets of the failed State National, and assume its liabilities, ... the new institution will be ready for business on the Monday following.
Source
newspapers
6. September 28, 1897 Receivership
Newspaper Excerpt
Joseph W. Selden, national bank examiner for the Logansport (Ind.) district, has been appointed receiver for the State National bank at that place. The bank was found to be insolvent. This is the bank that was wrecked by John Johnson.
Source
newspapers
7. January 11, 1898 Voluntary Liquidation
Source
historical_nic
8. September 27, 1898 Receivership
Source
historical_nic

Newspaper Articles (23)

Article from Las Vegas Daily Optic, May 21, 1897

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STILL FAILING. Prosperity Seems to Have no Effect on HardPressed Banks. NEW YORK, N. Y., May, 21. The Third national bank of this city announced, this morning, that it will go into liquidation. It has $12,000.00 of deposits and claims solitiney. It will turn over its affairs Horow City bank, which will pay deposi our The City bank has $43,000,000 in assets. LAWRENCE, N. H., May 21.-The Lake village bank follows the Belknap savings bank and suspends. WASHINGTON, D. C., May 21.The failure of the State national bank of Logansport, Indiana, yesterday, was due to the management's loaning heavily to its president. BOSTON, Mass., May 21. -The Han. cock national bank goes into líquidation, to-day, and the Mercantile trust company takes charge of its affairs. WASHINGTON, D. C.,May 21.-Act. ing comptroller of the treasury, Coffin, was notified, this morning, that the First national bank of Orleans, Nebraska, had failed.


Article from Rock Island Argus, May 21, 1897

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FAILURE OF AN INDIANA BANK. State National at Logansport-Depositors Lose More Than Half. Logansport, Ind., May 21.-The State National bank closed its doors yesterday morning. The action was due to an examination by National Bank Inspector George B. Caldwell, who came to inspect the banks of the city Wednesday. The liabilities are estimated to be over $700,000, with resources all the way from $200,000 to $500,000. The failure is alleged. to be due to mismanagement. Of the resources $500,000 are in notes and bank paper of which less than one-half is good. The deposits run about $400,000. It is believed now that the depositors will realize less than 50 cents on the dollar.


Article from The Indianapolis Journal, May 21, 1897

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J.F. Johnston Was President of and Bank Examiner Caldw Charges Gross Mismanagement $522,000 WORTHLESS STARTLING REVELATIONS TO WITH EXAMINER'S REPORT. State Medical Society Meets at Haute-Jury Has Brown-Sexton Murder Case. Special to the Indianapolis Journal. LOGANSPORT, Ind., May 20.-Bus circles of this city were thrown citement this morning by the ment of the failure of the State Bank. Business was transacted yeste as usual and deposits were received and after the time of closing. The tion has been considered by outsider one of the most substantial in Indiana. National Bank Examiner G. Caldwell, of Detroit, examiner northern Indiana district, came edly yesterday morning and called or officials of the State National to their books for examination. He soon the bank was rotten and called a of the directors for 8 o'clock this This resulted in the examiner closing bank and taking possession pending vestigation. The true state of affairs given out. The last statement made bank on March 9 shows resources amount of $716,065.36, of which over is in the shape of notes and other which are now supposed to be bad. In this connection it is reported that the rotten condition of the bank will be fully revealed in a few hardly be surmised. The further the examiner got in his examination of bank's securities the worse the came. Some of this could not help ing gossiped about, as several are to have knowledge of the corrupt and to-night alarming rumors were It is believed, however, that these are exaggerated. It is not believed there was any forgery or embezzle or any willful squandering of the itors' money. It is understood that dent Johnston and others indebted bank will make over private propert secure the depositors as far as possibl so, this will probably stop any prosecution. The liabilities include deposits subje check amounting to $204,372, and certificates of deposit of $146,559. The


Article from The Copper Country Evening News, May 22, 1897

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Logansport, Ind., Bank Fails. Logansport, Ind., May 22.-The - State National bank closed its doors yesterday morning. The action was due to an examination by National Bank Inspector George B. Caldwell, who came to inspect the banks of the city Wednesday. The liabilities are estimated to be over $700,000, with resources all the way from $200,000 to $500,000. The failure is alleged to be due to mismanagement. Of the resources $500,000 are in notes and bank paper of which less than one-half is good. The deposits run about $400,000. It is believed now that the depositors will realize less than 50 cents on the dollar.


Article from The Saint Paul Globe, May 22, 1897

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SENSATION DEVELOPED. President of the Logansport Bank Alleged to Be $201,000 Short. LOGANSPORT, Ind., May 21.-Sensational developments in the bank failure, as expected, are coming to light every hour. At 3:30 this afternoon Bank Examiner Caldwell swore out an affidavit charging John F. Johnson, president of the State National bank, with embezzlement, misappropriation of funds and with intention to defraud the bank. The paper is in the hauds of United States Commissioner Funk, and will be served as soon as a United States deputy marshal can be secured, probably not before tomorrow morning. Forgery is also charged to President Johnson, and the examiner thinks the amount will run up to $201.000. He is alleged to have embezzled $100,000 of bank funds, $61,500 of which was concealed in the certificate of deposit, and $40,000 in the individual ledger. The arrest will likely take place in the morning. Every avenue of escape, it is said, has been cut off by the deputy United States marshal. President Johnson is charged with forging the names of prominent business men to a total of thirty notes, representing $201,000. The money was secretly borrowed from the funds of the bank, not one of the depositors knowing of the account. The downfall of Mr. Johnson cannot be fully explained. He would make no statement tonight for publication, and is quietly waiting at his home for the officers to arrest him. A friend of his today said that Johnson was appointed administrator of his father's(Johnson's) estate, and believed it to be solvent. He paid claims as they were presented and, when the estate was found to be insolvent, he secretly borrowed money from the bank.


Article from The Salt Lake Herald, May 22, 1897

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"Here's a Pretty Mess." Logansport, Ind., May 21.-There were sensational developments today in the bank failure. This afternoon, Bank Examiner Caldwell swore out an affidavit charging John F. Johnson, president of the State National Bank, with embezzling, misappropriation of funds and with intention to deceive and defraud the bank and the bank examiner. Forgery is also charged against President Johnson and the examiner thinks that the amount will run up to $201,000. He is alleged to have embezzled $101,000 of bank funds, $61,500, of which was concealed in a certificate of deposit and $40,000 in the individual ledger. The arrest will likely take place in the morning. President Johnson is charged with forgery of the names of prominent business men to a total of 30 notes representing $201,000. One hundred thousand dollars worth of property has been deeded to the bank during the last 24 hours by Johnson.


Article from The Indianapolis Journal, May 26, 1897

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"SALTED" HIS STEALINGS FEDERAL GRAND JURY VOTES TO DICT BANK EXAMINER JOHNSON. Got Away with About $450,000-Monti cello Institution Will Be Saved -The Forged Notes. The federal grand jury yesterday took the case of John F. Johnson, the wrecke of the State National Bank of Logansport For the first time it is possible to approxi mate the amount of his stealings. These amount, all told, to about $450,000, of which $200,000 is represented by forged found in the bank: $100,000 by crooked bool accounts; $50,000 on a certificate of deposit issued to the National Bank of the public, of New York, and $100,000 on personal paper or word given on loans. has turned over the bank property, servatively valued at $100,000, leaving the net amount he has got away with $350,000 He stole just about this amount from bank, but the property he has turned to it brings the amount down to $250,000 It has a capital stock of $200,000 and a plus of $100,000. The directors figure that the surplus is wiped out, and that about $70,000 of the capital stock is gone. The value of the paper in the bank will have to be ascertained before the figures can reached. Bank Examiner Caldwell, who was with the directors and employes of bank to testify before the grand jury, clined to express a theory as to what came of the money Johnson stole. The rectors have come to the conclusion tha he has sequestered a large portion of it, in support of this theory they point to fact that nearly all of the personal loans he made and the certificate of deposit which he issued to the New York bank, as wel as much forged paper in the bank, matters of the past thirty days. The aminer says that the stealings shown the book accounts date back to 1895, though the forged paper and certificate are new. Examiner Caldwell was the chief witness before the grand jury, and he exhibited the books and forged paper. The directors employes testified that Johnson ran bank, acting in the double capacity of ident and cashier. They said that they had had unlimited confidence in him. The voted to indict him, and the indictment charging every penal clause in the bank ing act, will be written to-morrow. Henry Van Vorst, the largest stockholder of the State National Bank of Monticello came down yesterday and had a brief terview with Johnson in the jail. The ter, while perfectly self-possessed, seemed sorry that he had carried that bank down also, and readily signed a telegram to attorney instructing him to confess judg ment on a note for $10,000, and declared was sorry he could not do more to Van Vorst out. He said that the money not do him a particle of good, as it simply went with the wreck. The Monticello ple are making an effort to reopen their bank. The auditor of state went to Monti cello yesterday to look into the matter determine whether to ask for a receiver grant time for a reorganization. EXAMINER CALDWELL'S ESTIMATES Bank Examiner George B. Caldwell, Detroit, the man who discovered the tenness in the bank and has since charge of it, was a much-sought man when he arrived from Logansport yesterday morning. "We have not arrived at exact figures yet," said he, in reply to the question a Journal reporter. "I have an expert from Cincinnati at work upon the books, any figures I may give now are simply approximations. We have heard of no ther evidences of debt against the banl since Friday night. and, as I have now al the accounts current of the correspondents I think we shall find nothing that will fur ther swell the shortage. In round figure he has taken from the bank $350,000


Article from The Ely Miner, May 26, 1897

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Failure is announced of the Miners' state bank of Cripple Creek, Col. Gov. Black, of New York, signed the bill providing the death penalty for train wreckers who cause death. The Belknap savings bank at Laconia, N. H., closed its doors with about $1,000,000 due depositors. A fire in Jersey City, N. J., caused a loss of $100,000 and made 60 families homeless. The rapid fall of the Mississippi river at all points from Memphis to the gulf gives notice that the flood of 1897 is over. The total area overflowed was: Arkansas, 3,200 square miles; Mississippi, 6,520 square miles; Louisiana, 975 square miles, and the total damage amounts to $14,520,000. The first public test of the acrograph, an instrument by which photographs may be instantaneously transmitted by wire, was successfully made in Cleveland, O. Albert W. King, a 19-year-old messenger of the Boylston national bank in Boston, was missing with about $20,000 in cash. Two children of Augustus Muetze, residing 12 miles from Redfield, S. D., were killed by lightning. Tramps fired the home of Thomas Biddle, a farmer at White Oak Creek, Tenn., and he and his wife and three children were cremated. The sixty-fifth annual meeting of the American Baptist Home Missionary society convened in Pittsburgh, Pa. The fourth annual banquet of the Associated Press was given in Chicago, 140 members being present. The State bank of Monticello, Ind., suspended payment. It had $135,000 in deposits. At Oakland, Cal., Lucretia Borgia, a four-year-old filly, broke the world's record for four miles, making the distance in 7:11. Terrific wind and rainstorms in Indiana did great damage at Indianapolis, Kokomo and Wabash. Fire at Hoboken, N. J., caused a loss of $650,000 and 150 families were rendered homeless. The National Good Citizens' convention at Nashville, Tenn., adopted a platform which seeks to unite all friends of good government, to promote the duty of good citizens, to contend for purity in politics and to make known to all the truth about the principles of American institutions. The State national bank of Logansport, Ind., closed its doors with liabilities of $300,000. The Randolph county courthouse at Beverly, W. Va., was destroyed by fire with all the official records for 100 years. The Third national bank of New York has decided to retire from business. The one hundred and ninth General Assembly of the Presbyterian church met at Eagle Lake, Ind. President McKinley will visit the Nashville exposition on June 12. Michigan will have no state fair this year. The treasury is bankrupt. A statue of Stephen Girard, the philanthropist and founder of Girard college, was unveiled in Philadelphia. Col. E. B. Gray, of Madison, was elected state commander of the G. A. R. at the annual encampment in Eau Claire, Wis. A statue of the late Cornelius Vanderbilt, "the commodore," was unveiled on the campus of Vanderbilt university at Nashville, Tenn.


Article from Shiner Gazette, May 26, 1897

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Charged With Misappropriation Logansport, Ind., May 22.-The sensational developments in the bank failure, as expected, are coming to light every hour. At 5:30 o'clock yesterday afternoon Bank Examiner Caldwell swore out an affidavit charging John F. Johnson, president of the State National bank, with embezzlement, misappropriation of the funds and with intention to deceive and defraud the bank and the bank examiner. The paper is in the hands of United States Commissioner Funk and will be served as soon as a United States deputy marshel can be secured, but probably not before this morning. Forgery is also charged to President Johnson, and the examiner thinks the amount will run up to $201,000. He is alleged to have embezzled $100,000 of bank funds, $61,500 of which was concealed in the certificate of deposit and $40,000 in the individual ledger.


Article from Kansas City Journal, May 27, 1897

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WHERE THE MONEY WENT. Bank President Johnson Lost His Stealings in Speculation and Bad Investments. Logansport, Ind., May 26.-Bank Examiner Caldwell this afternoon found in a private box in the vault of the wrecked State National bank some private correspondence belonging to ex-President John F. Johnson, which throws some light on the channels which absorbed the missing money. Mr. Johnson was interested with ex-United States Treasurer J. N. Huston, of Connorsville, Ind., in a phosphate bed in Virginia, and the loss in this direction will probably amount to $100,000. The ex-president was also an extensive investor in oil and gas land leases near Gas City, Ind., but just what sum was sunk in this enterprise is not known. His dealings in Colorado and Wyoming mining stocks swallowed up another big sum. the preeise amount the bank examiner at the moment is unable to determine. Heavy losses were made in wheat speculation in Chicago and Toledo "bucketshops'" and boards of trade. It is believed that Mr. Johnson's shortage, which already foots up $350,000. will not be increased by further examinations. The reorganization of the bank is not impossible, and a receiver will be appointed. The federal grand jury to-day found nine indictments against John F. Johnson. late president of the State National bank. of Logansport, Ind. He is charged with viciating practically every section of the national banking law. including forgery. It is found that the directors of the bank cannot be indicted for stupidity and incompetence, which the federal authorities indicate is the chief trouble with them.


Article from The Wilmington Daily Republican, May 27, 1897

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INDICTMENTS AGAINST JOHNSON The Indiana Banker Invested Others' Funds in Speculation. Indianapolis, May 27.-The federal grand jury found 15 indictments against John F. Johnson, late president of the State National bank of Logansport, Ind. He is charged with violating practically every section of the national banking law, including forgery. It is found that the directors of the bank cannot be indioted for stupidity and incompetence, whi the federal authorities indicate is the chief trouble with them. Bank Examiner Caldwell yesterday afternoon found in private box in the vault of the wrecked State National bank at Laporte some privte correspondence belonging to ex-President John F. Johnson, which throws some light on the channels which absorbed the missing money. Mr. Johnson was interested with exUnited States Treasurer J. N. Huston, of Connorsville, Ind., in a phosphate bed in Virginia, and the loss in this direction will probably amount to $100,000. The ex-president was also an extensive investor in oil and gas land leases near Gas City, Ind., but just what sum was sunk in this enterprise is not known. His dealings in Colorado and Wyoming mining stocks swallowed up another big sum, the precise amount of which the bank examiner is yet unable to determine. Heavy losses were made in wheat speculation. It is believed that Mr. Johnson's shortage, which already foots up $350,000, will not be increased by further examinations. The reorganization of the bank is not thought possible, and a receiver will be appointed.


Article from Gloucester County Democrat, May 27, 1897

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INDICTMENTS AGAINST JOHNSON The Indiana Banker Invested Others' Funds in Speculation. Indianapolis, May 27.-The federal grand jury found 15 indictments against John F. Johnson, late president of the State National bank of Logansport, Ind. He is charged with violating practically every section of the national banking law, including forgery. It is found that the directors of the bank cannot be indicted for stupidity and incompetence, which the federal authorities indicate is the chief trouble with them. Bank Examiner Caldwell yesterday afternoon found in private box in the vault of the wrecked State National bank at Laporte some privte correspondence belonging to ex-President John F. Johnson, which throws some light on the channels which absorbed the missing money. Mr. Johnson was interested with exUnited States Treasurer J. N. Huston, of Connorsville, Ind., in a phosphate bed in Virginia, and the loss in this direction will probably amount to $100,000. The ex-president was also an extensive investor in oil and gas land leases near Gas City, Ind., but just what sum was sunk in this enterprise is not known. His dealings in Colorado and Wyoming mining stocks swallowed up another big sum, the precise amount of which the bank examiner is yet unable to determine. Heavy losses were made in wheat speculation. It is believed that Mr. Johnson's shortage, which already foots up $350,000, will not be increased by further examinations. The reorganization of the bank is not thought possible, and a receiver will be appointed.


Article from Warren Sheaf, May 27, 1897

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Failure is announced of the Miners' state bank of Cripple Creek, Col. Gov. Black, of New York, signed the bill providing the death penalty for train wreckers who cause death. The Belknap savings bank at Laconia, N. H., closed its doors with about $1,000,000 due depositors. A fire in Jersey City, N. J., caused a loss of $100,000 and made 60 families homeless. The rapid fall of the Mississippi river at all points from Memphis to the gulf gives notice that the flood of 1897 is over. The total area overflowed was: Arkansas, 3,200 square miles; Mississippi, 6,520 square miles; Louisiana, 975 square miles, and the total damage amounts to $14,520,000. The first public test of the acrograph, an instrument by which photographs may be instantaneously transmitted by wire, was successfully made in Cleveland, O. Albert W. King, a 19-year-old messenger of the Boylston national bank in Boston, was missing with about $20,000 in cash. Two children of Augustus Muetze, residing 12 miles from Redfield, S. D., were killed by lightning. Tramps fired the home of Thomas Biddle, a farmer at White Oak Creek, Tenn., and he and his wife and three children were cremated. The sixty-fifth annual meeting of the American Baptist Home Missionary society convened in Pittsburgh, Pa. The fourth annual banquet of the Associated Press was given in Chicago, 140 members being present. The State bank of Monticello, Ind., suspended payment. It had $135,000 in deposits. At Oakland, Cal., Lucretia Borgia, a four-year-old filly, broke the world's record for four miles, making the distance in 7:11. Terrific wind and rainstorms in Indiana did great damage at Indianapolis, Kokomo and Wabash. Fire at Hoboken, N. J., caused a loss of $650,000 and 150 families were rendered homeless. The National Good Citizens' convention at Nashville, Tenn., adopted a platform which seeks to unite all friends of good government, to promote the duty of good citizens, to contend for purity in politics and to make known to all the truth about the principles of American institutions. The State national bank of Logansport, Ind., closed its doors with liabilities of $300,000. The Randolph county courthouse at Beverly, W. Va., was destroyed by fire with all the official records for 100 years. The Third national bank of New York has decided to retire from business. The one hundred and ninth General Assembly of the Presbyterian church met at Eagle Lake, Ind. President McKinley will visit the Nashville exposition on June 12. Michigan will have no state fair this year. The treasury is bankrupt. A statue of Stephen Girard, the philanthropist and founder of Girard college, was unveiled in Philadelphia. Col. E. B. Gray, of Madison, was elected state commander of the G. A. R. at the annual encampment in Eau Claire, Wis. A statue of the late Cornelius Vanderbilt, "the commodore," was unveiled on the campus of Vanderbilt university at Nashville, Tenn.


Article from The Princeton Union, May 27, 1897

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AN AWFUL VILLAIN BANKER CHARGED WITH FORGERY AND OTHER CRIMES. An Examination Into the Failure of the Logansport, Ind., Bank Results in Charges of Forgery, Misappropriation of Funds, Intention to Defraud and Other Misdeeds Against the President of the Bank-Over $300,000 Involved. Logansport, Ind., May 23.-The sensational developments in the bank failure. as expected, are coming to light every hour. Bank Examiner Caldwell swore out an affidavit charging John F. Johnson, president of the State National bank. with embezzlement. misappropriation f funds and with intention to defr ud the bank. Forgery is also charged to President Johnson and the examiner thinks the amount will run up to $201,000. He is alleged to have embezzled $100,000 of bank funds. $61,500 of which was concealed in the certificate of deposit and $40,000 in the individual ledger. The arrest will take place immediately. Every avenue of escape, it is said, has been cut off by deputy United States marshals. President Johnson is charged with forging the names of prominent business men to a total of thirty notes, representing $201,000. The money was secretly borrowed from the funds of the bank, not one of the depositors knowing of the account. The day was busily spent in unearthing more of the numerous shortages, and every hour hope grew less in the hearts of the depositors and stockholders. Property is being deeded to the stockholders by Johnson and every effort being made to save himself. President Johnson has protected one of his private creditors in the person of a onelegged boy named Charles Heilzman. He was guardian of the boy and had $3.700 of his money. The other private creditors will probably lose all of their claims. How much he owes and to whom is not stated. One hundred thousand dollars worth of property has been deeded to the bank during the last twenty-four hours.


Article from The Pioneer Press, May 27, 1897

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Logansport. Ind May 22-The sensational developments in the bank failure, as expected. are coming to light every hour. Bank Examiner Caldwell swore out an affidavit charging John F. Johnson. president of the State National bank, with embezzlement. misappropriation of funds and with intention to defraud the bank. Forgery is also charged to President Johnson and the examiner thinks the amount will run up to $201.000. He is alleged to have embezzled $100.000 of bank funds. $61,500 of which was concealed in the certificate of deposit and $40,000 in the individual ledger. The arrest will take place immediately. Every avenue of escape, it is said. has been cut off by deputy United States marshals. President Johnson is charged with forging the names of prominent business men to a total of thirty notes. representing $201,000. The money was secretly borrowed from the funds of the bank. not one of the depositors knowing of the account. The day was busily spent in unearthing more of the numerous shortages. and every hour hope grew less in the hearts of the depositors and stockholders. Property is being deeded to the stockholders by Johnson and every effort being made to save himself. President Johnson has protected one of his private creditors in the person of a onelegged boy named Charles Heilzman. He was guardian of the boy and had $3.700 of his money. The other private creditors will probably lose all of their claims. How much he owes and to whom is not stated. One hundred thousand dollars worth of property has been deeded to the bank during the last twenty-four hours.


Article from The News-Herald, May 27, 1897

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Guy Kennedy has been called tempor. arily to Logansport, Indiana, as an expert, to investigate the affairs of the State National Bank, from which it will be remembered Cashier Johnson is charged with having stolen $600,000 This selection for such a responsible work speaks volumes for the esteem in which Guy's abilities are held by the National authorities The Cincinnati Times Star says: Mr. Guy H Kennedy, the expert who has been assisting Receiver George P Wilshire in straightening out the affairs of the defunct First National Bank, was telegraphed by Comptroller Eckels, Mon day afternoon, to proceed at once to the State National Bank at Logansport, Ind., and make an examination of the books at that institution. He will return to the First National in about ten days. Comptroller Eckels credits Mr Kenne dy with sending in the most complete and able report of any of the experts employed for that purpose


Article from The Morning News, May 27, 1897

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LOOTING AT LOGANSPORT. Bank President Johnson's Shortage $350,000. Logansport, Ind., May 26.-Bank Examiner Caldwell this afternoon found in a private box in the vault of the wrecked State. National Bank some private correspondence belonging to President Johnson, which throws some light on the channels that absorbed the missing money. Mr. Johnson was interested with exUnited States Treasurer J. N. Huston of Connersville, Ind., in a phosphate bed in Virginia, and the loss in this direction will probably amount to $100,000. His dealings in Colorado and Wyoming mining stocks swallowed up another big sum. Heavy losses were made in wheat speculation in Chicago and Toledo "bucket shops," and the board of trade. It is believed that Mr. Johnson's shortage, which already foots up $350,000, will not be increased by further examinations. The reorganization of the bank is not thought possible, and a receiver will be appointed.


Article from The Diamond Drill, May 29, 1897

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CHARGES AGAINST JOHNSON. Nine Indictments Returned in Case of Logansport Bank President. Indianapolis, Ind., May 27.-The federal grand jury found nine indictments against John F. Johnson, late president of the State national bank of Logansport, Ind. He is charged with violating practically every section of the national banking law, including forgery. Fifteen counts in all have been prepared and six additional indictments are to be found and returned with the other nine. It is found that the directors of the bank cannot be indicted for stupidity and incompetence, which the federal authorities indicate is the chief trouble with them. Bank Examiner Caldwell has found in a private box in the vault of the wrecked State national bank private correspondence of ex-President John F. Johnson, which shows where the bulk of the stolen money has gone. Johnson was interested with ex-United States Treasurer J. N. Husted, of Connersville, Ind., in phosphate beds in Virginia, and the loss will amount probably to $100,000 in this direction. He was also an extensive investor in oil and gas land leases near Gas City, Ind. Colorado and Wyoming mining stocks swallowed up another big sum. Heavy losses occurred through speculations in wheat in Chicago and Toledo bucket shops and board of trade. It is believed the shortage will not be increased by further examinations. It already foots $350,000. Reorganization is not thought to be possible, and a receiver may be appointed.


Article from The River Falls Times, June 8, 1897

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diamond jubilee, and invitations have been issued through the mayor to exPresidents Grover Cleveland and Benjamin Harrison to attend. It is expected that the former at least will be able to attend. General. A sugar beet syndicate has been formed in Colorado. The National Wallpaper company won a suit at New York involving $38,000,000 of its securities. Frank Slavin lasted just two minutes in his fight with Jim Butler of Philadelphia before the California Athletic Club of San Francisco. Texas is harvesting the largest grain crop in its history. Conservative estimates place the wheat yield at from twenty to twenty-five million bushels. The Illinois senate has passed the house bill appropriating $1,000 for the painting of a portrait of ex-Gov. Altgeld. C. C. Smith, the Black Thunderbolt, knocked out Jim Delaney of Portland, Or., in thirty seconds of the second round at the Maple Avenue Athletic club at Elmira, N. Y. A new treatment for lock-jaw has just been successfully tried at the German hospital at Sanfrancisco under the direction of Dr. Conrad Weil. It consists of injections of a tetanus anti-toxin of diphtheria. Because of some boys' pranks twenty-three students of Parson's college of Fairfield, Iowa, all belonging to the Orio club, have been suspended till fall. Three are seniors. The rest will all escape examinations. The citizens of Logansport. Ind., have completed the subscription of $200,000 necessary to the reorganization of the recently failed State National bank and restore the impaired capital and the bank will be reorganized. The international art exhibition was opened at Munich by Prince Regent Luitpold in the presence of the court dignitaries, ministers, members of the diplomatic corps and the civil and military authorities. There are many American exhibits. The West Burlington, Iowa, shops of the Burlington railroad has began working full time with a. full force. An increase of $50,000 per month in wages will result. Additional men are now being employed over the entire Burlington system. Libby prison at Chicago will soon be closed. The Appomattox table, the first oil portrait of Grant and all the other pictares, documents, canon, rifles, shot and shell forming the collection of American war relics will probably find a resting place in Washington. At the National Sporting club in London the twenty-round match for $4,000 between Dick Burge and Tom Causer was brought off before a large crowd. Burge was a warm favorite He made some clever points during the first five rounds but in the sixth he was cautioned twice for hitting too low, and in the seventh was disqualified for a foul. Attorney General Boyle of Kansas in the investigation of charges by the Kansas City Stock Yards company, will take the testimony of President Charles Francis Adams, Treasurer Charles Meriam and others and try to get at the original stock books in Bos. ton. The Kansas officials hope to sub. stantiate the claim that the company's stock has been watered. Loretta M. Kane of Chicago has brought suit for $50,000 against Sher iff Phillips of Dubuque county, Iowa and Mercy hospital. She was a teach. er in a Chicago public school and had some trouble with the board of edu cation. She alleges that on June 13 1896, she was imprisoned in Mercy


Article from The Indianapolis Journal, June 17, 1897

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The New Logansport Bank. Special to the Indianapolis Journal. WASHINGTON, June 16.-The directors of the new City National Bank at Logansport will be John Grey, Almon P. Jenks, W. C. Pennock, John C. Ingram, John T. Ellott, William H. Bell, George W. Funk, Isaac Schidler and Isaac N. Crawford. Controller Eckels has received word that the entire capital stock of the bank, $200,000, will be paid in by Saturday of this week, and it is probable that the new institution will be ready for business on the Monday following. The City National will buy out the assets of the failed State National, and assume its liabilities, a deal which is entirely satisfactory to the controller, as it assures the full payment of the debts of the old bank. The affairs of the old State National will therefore be closed out without the formality of a receiver or liquidator.


Article from Courier Democrat, June 17, 1897

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pected that the former at least will be able to attend. King Leopold is again missing, and the Belgians are wondering where he will turn up next. A few days ago Leopold II. left Brussels so suddenly that even his court chronicler was not aware of it, and the next the world heard about the royal personage he was in Sheffield, Eng. Then he went to Glasgow, but has disappeared from there. ### General. A sugar beet syndicate has been formed in Colorado. The National Wallpaper company won a suit at New York involving $38,000,000 of its securities. Frank Slavin lasted just two minutes in his fight with Jim Butler of Philadelphia before the California Athletic Club of San Francisco. Texas is harvesting the largest grain crop in its history. Conservative estimates place the wheat yield at from twenty to twenty-five million bushels. The Illinois senate has passed the house bill appropriating $1,000 for the painting of a portrait of ex-Gov. Altgeld. C. C. Smith, the Black Thunderbolt, knocked out Jim Delaney of Portland, Or., in thirty seconds of the second round at the Maple Avenue Athletic club at Elmira, N. Y. A new treatment for lock-jaw has just been successfully tried at the German hospital at Sanfrancisco under the direction of Dr. Conrad Weil. It consists of injections of a tetanus anti-toxin of diphtheria. Because of some boys' pranks twenty-three students of Parson's college of Fairfield, Iowa, all belonging to the Orio club, have been suspended till fall. Three are seniors. The rest will all escape examinations. The citizens of Logansport, Ind., have completed the subscription of $200,000 necessary to the reorganization of the recently failed State National bank and restore the impaired capital and the bank will be reorganized. The international art exhibition was opened at Munich by Prince Regent Luitpold in the presence of the court dignitaries, ministers, members of the diplomatic corps and the civil and military authorities. There are many American exhibits. The West Burlington, Iowa, shops of the Burlington railroad has began working full time with a full force. An increase of $50,000 per month in wages will result. Additional men are now being employed over the entire Burlington system. Libby prison at Chicago will soon be closed. The Appomattox table, the first oil portrait of Grant and all the other pictures, documents, canon, rifles, shot and shell forming the collection of American war relics will probably find a resting place in Washington. At the National Sporting club in London the twenty-round match for $4,000 between Dick Burge and Tom Causer was brought off before a large crowd. Burge was a warm favorite. He made some clever points during the first five rounds but in the sixth he was cautioned twice for hitting too low, and in the seventh was disqualified for a foul. Attorney General Boyle of Kansas in the investigation of charges by the Kansas City Stock Yards company, will take the testimony of President Charles Francis Adams. Treasurer Charles Meriam and others and try to get at the original stock books in Boston. The Kansas officials hope to substantiate the claim that the company's stock has been watered. Loretta M. Kane of Chicago has brought suit for $50,000 against Sheriff Phillips of Dubuque county, Iowa, and Mercy hospital. She was a teacher in a Chicago public school and had some trouble with the board of education. She alleges that on June 13, 1896, she was imprisoned in Mercy hospital for ten days. Her arrest was due to a charge of insanity. Later she was examined, reported not insane, and discharged. Kentucky silverites have placed another woman in the field as a candidate for an elective office, Miss Mary G. Anderson, having been nominated in Montgomery county for superintendent of schools. The Louisville Courier-Journal says that she has a handsome plurality over several opponents, belongs to one of the best families of the county, has taught several schools acceptably, and is a talented and refined young woman. It is believed that no more crews from Yale will be allowed to enter regattas away from home. The experience of the scrub eight, composed of candidates for the class crews and one or two former substitutes for the 'varsity at the Harlem regatta on Monday was very unsatisfactory. They were advertised everywhere as the Yale 'varsity crew. The eight that rowed at Harlem contained no oarsman that has rowed in a Yale 'varsity race.


Article from The Pioneer Express, June 18, 1897

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disappeared there. General. A sugar beet syndicate has been formed in Colorado. The National Wallpaper company won a suit at New York involving $38.000,000 of its securities. Frank Slavin lasted just two minutes in his fight with Jim Butler of Philadelphia before the California Athletic Club of San Francisco. Texas is harvesting the largest grain crop in its history. Conservative estimates place the wheat yield at from twenty to twenty-five million bushels. The Illinois senate has passed the house bill appropriating $1,000 for the painting of a portrait of ex-Gov. Altgeld. C. C. Smith. the Black Thunderbolt. knocked out Jim Delaney of Portland. Or., in thirty seconds of the second round at the Maple Avenue Athletic club at Elmira. N. Y. A new treatment for lock-jaw has just been successfully tried at the German hospital at Sanfrancisco under the direction of Dr. Conrad Weil. It consists of injections of a tetanus anti-toxin of diphtheria. Because of some boys' pranks twenty-three students of Parson's college of Fairfield. Iowa. all belonging to the Orio club. have been suspended till fall. Three are seniors. The rest will all escape examinations. The citizens of Logansport, Ind., have completed the subscription of $200,000 necessary to the reorganization of the recently failed State National bank and restore the impaired capital and the bank will be reorganized. The international art exhibition was opened at Munich by Prince Regent Luitpold in the presence of the court dignitaries. ministers, members of the diplomatic corps and the civil and military authorities. There are many American exhibits. The West Burlington, Iowa, shops of the Burlington railroad has began working full time with a full force. An increase of $50,000 per month in wages will result. Additional men are now being employed over the entire Burlington system. Libby prison at Chicago will soon be closed. The Appomattox table. the first oil portrait of Grant and all the other pictures, documents, canon, rifles. shot and shell forming the collection of American war relics will probably find a resting place in Washington. At the National Sporting club in London the twenty-round match for $4,000 between Dick Burge and Tom Causer was brought off before a large crowd. Burge was a warm favorite. He made some clever points during the first five rounds but in the sixth he was cautioned twice for hitting too low, and in the seventh was disqualified for a foul. Attorney General Boyle of Kansas in the investigation of charges by the Kansas City Stock Yards company, will take the testimony of President Charles Francis Adams. Treasurer Charles Meriam and others and try to get at the original stock books in Boston. The Kansas officiale hope to substantiate the claim that the company's stock has been watered. Loretta M. Kane of Chicago has brought suit for $50,000 against Sheriff Phillips of Dubuque county, Iowa, and Mercy hospital. She was a teacher in a Chicago public school and had some trouble with the board of education. She alleges that on June 13, 1896. she was imprisoned in Mercy hospital for ten days. Her arrest was due to a charge of insanity. Later she was examined. reported not insane, and discharged. Kentucky silverites have placed another woman in the field as a candidate for an elective office. Miss Mary G. Anderson, having been nominated in Montgomery county for superintendent of schools. The Louisville CourierJournal says that she has a handsome plurality over several opponents, belongs to one of the best families of the county. has taught several schools acceptably, and is a talented and refined young woman. It is believed that no more crews from Yale will be allowed to enter regattas away from home. The experience of the scrub eight, composed of candidates for the class crews and one or two former substitutes for the 'varsity at the Harlem regatta on Monday was very unsatisfactory. They were advertised everywhere as the Yale 'varsity crew. The eight that rowed at Harlem contained no oars. man that has rowed in a Yale 'varsity race.


Article from Rock Island Argus, September 28, 1898

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Receiver for a Looted Bank. Washington, Sept. 28. - Joseph W. Selden, national bank examiner for the Logansport (Ind.) district, has been appointed receiver for the State National bank at that place. The bank was found to be insolvent. This is the bank that was wreeked by John Johnson.