Article Text
INDIANA BANK FAILS. First National at Matthews Saspended Today. Washington, Feb. 13.-The comptroller of the currency has received a telegram announcing the suspension of the First National Bank of Matthews, Ind.
6070. First National Bank (Matthews, IN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 5998
- Charter Number
- 5998
- Start Date
- February 13, 1904
- Location
- Matthews, Indiana (40.389, -85.499)
Metadata
- Model
- gpt-5-mini
- Short Digest
2dad8137
Response Measures
None
Receivership Details
- Depositor recovery rate
- 30.0%
- Date receivership started
- 1904-02-13
- Date receivership terminated
- 1905-09-30
- OCC cause of failure
- Excessive lending
- Share of assets assessed as good
- 34.9%
- Share of assets assessed as doubtful
- 55.6%
- Share of assets assessed as worthless
- 9.5%
Description
The First National Bank of Matthews, Ind. was closed by resolution of the board (suspended) on Feb 13, 1904 and a national bank examiner was appointed receiver. Reporting cites overloaning and local industrial depression as causes. Although some articles suggested the bank 'might reopen' within a week, a receiver was formally appointed, indicating permanent closure/receivership.
Events (5)
1.
October 24, 1901
Chartered
- Source
- historical_nic
2.
February 13, 1904
Receivership
- Source
- historical_nic
3.
February 13, 1904
Receivership
- Newspaper Excerpt
- National Bank Examiner William D. Frazer has been appointed receiver. The comptroller has no information as to the cause of the directors' action.
- Source
- newspapers
4.
February 13, 1904
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Closed by resolution of the board; contemporaneous reports cite overloaning and industrial depression (three factories closed) as reasons.
- Newspaper Excerpt
- The comptroller of the currency has received a telegram announcing the suspension of the First National Bank of Matthews, Ind. The bank was closed by resolution of the board of directors
- Source
- newspapers
5.
March 4, 1904
Receivership
- Newspaper Excerpt
- A. D. Lynch ... has been appointed receiver of the First National Bank of Matthews, Ind.
- Source
- newspapers
Newspaper Articles (20)
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By Associated Press. Matthews, Ind., Feb. 13-With the no tice of the suspension of the First National Bank, it is stated that all the depositors will be paid in full.
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WILL PAY IN FULL (By Associated Press.) Matthews, Ind., Feb. 13.-Notice of the suspension of the First National bank stated that depositors would be paid in full.
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New York, Feb 13.-According to a recent statement the State bank of Pittsburg owed depositors $450,000. Washington, Feb 13.-The comptroller of the currency as received a telegram announcing the suspension of the First National bank of Matthews, Ind. The bank was closed by resolution of the board of directors, and National Bank Examiner William D. Frazer has been appointed receiver. This bank was organized October 24, 1901. The comptroller has no information as to the cause of the directors' action.
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From Washington. (Correspondence of the Alexandria Gazette.] Washington, Feb. 13. The Senate will, it is expected, devote practically all of its time next week to the consideration of the Panama canal treaty with the hope of being able to reach the final vote on its ratification towards the end of the week, probably Friday. Several speeches will be made by Senator Morgan and others in criticism of the administration's attitude towards Panama and Colombia and it is expected that Mr. Spooner will wind up the debate for the republicans with a speech defending the President and his course. There are no important hearings scheduled in committees during the week. The appropriation committee is making good progress with the big supply bills. Most of next week in the House will be devoted to the consideration of the naval appropriation bill and, if any time should remain, the District of Colombia appropriation bill will be brought up. Gen. Grosvenor, of Ohio, will renew his effort to secure a place on the calendar as a special continuing order for the bill creating a commission to investigate the needs of the American merchant marine. Miss Alice Roosevelt's twentieth birthday was celebrated last night at the White House with a dinner of thirty covers. Gilt candelabra, with white tapers under yellow shades, and yellow and white carnations, adorned the table. Congress was not in session today and but few people were about the Capitol. Minister Sanchez, of San Domingo, accompanied by his interpreter, called this morning upon Secretary Loomis at the State Department. He told the atter that General Jiminez, command. ing the insurgent forces, had issued an order instructing his men to "shoot to kill, to destroy all property, to lay waste the entire country." Directly upon this call came я dispatch from Minister Powell to the effect that the orders referred to by Minister Sanchez was being carried out to the letter, and considerable property belonging to American citizens was being destroyed. Minister Powell states that he has sent a note to the commander of the revolutionists demanding satisfaction, but up to mail time had received no answer. The Comproller of the Currency announces the failure of the First National Bank of Matthews, Ind., National Bank Examiner Wm. D. Frazer has been appointed receiver. The resources and liabilities, at the time of the last official statement, were $134,000 each. The cause of the failure is not known here.
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BRIEF TELEGRAMS. New York, Feb. 13.-Among the passengers who arrived today on the steamer Celtic from Liverpool and Queenstown were Michael Davitt and family, who are going to Colorado. I Washington, Feb. 13.-The comptroller of the currency has received a telegram anonuncing the suspension of the First National bank of Matthews, Ind. Washington, Feb. 13.-President and Mrs. Roosevelt gave a dinner of twenty-seven covers at the White House last night. The guests were mostly the younger element of Washington society. / Port Said, Egypt, Feb. 13.-The United States cruiser San Francisco which arrived here February 10 from Beiruit proceeded today for Bambay and Singapore. I Manila, Feb. 13.-The remains of none of the people drowned in the recent capsizing of a boat off Tatagas have yet been recovered. It is reported here that 13 of the runaway mutineers of the Vegan constabulary have been captured. I London, Feb. 13.-Captain Jaimeson of the American line steamer St. Louis from New York, February 6, reports by wireless telegraph that owing to stress of weather the steamer will not call at Plymouth, but will land her mails at Southampton. Pittsburg, Feb. 13.-The State bank of Pittsburg, capitalized at $50,000, was closed today by order of the state banking department. The state bank examiner is temporarily in charge.
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Washington, Feb. 13.-The comptroller of the currency has received a telegram anonuncing the suspension of the First National bank of Matthews, Ind.
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CAPITAL CULLINGS The house yesterday passed 320 private pension bills in 155 minutes. Fourth Assistant Postmaster General Bristow, who has been very ill with grip, is improving. Representative Bede will introduce a bill providing a revenue cutter for use on Lake Superior. Minister Powell has reported that a battle was fought recently at Sanchez, San Domingo, in which many were killed. The controller of the currency has received a telegram announcing the suspension of the First National bank of Matthews, Ind. Further reports of the revolt among the Fillpino constabulary at Vigan show that the deserters numbered only seventeen. They are being pursued. The house committee on commerce has favorably reported the bill permitting the building of a dam across the Mississippi river at Sauk Rapids, Minn.
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Ind. National Bank Examiner William D. Frazer has been appointed receiver. Matthews, Ind., Feb. 13.-Notice was posted on the doors of the First National Bank here to-day that there would be a temporary suspension, but that all depositors would be paid in full. The capital of the bank is $25,000.
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Indiana Bank Suspends. Washington, Feb. 13.-The Controller of the Currency has received a. telegram announcing the suspension of the First National Bank of Matthews, Ind. National Bank Examiner W. D. Frazier has been appointed receiver. The bank has a capital stock of $25,000.
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RECEIVER IS APPOINTED FOR A MATTHEWS BANK First National, of that Town, Suspends, Presumably on Account of Too Many Loans. ASSETS AND LIABILITIES Special to the Indianapolis Journal. MARION, Ind.. Feb. 13.-Just before the hour of opening this morning a notice was posted on the door of the First National Bank of Matthews to the effect that it was temporarily closed and that all claims would be paid in full. President John H. Wood went to Chicago last night to realize on securities and the other officers of the bank would not talk in his absence, and pending the arrival of the bank examiner to-night. It was said that the bank might reopen next week. Very little embarrassment was caused by the failure, other arrangements having been made to meet the Saturday pay-day requirements of the industries of the town. A dispatch from Washington announces the appointment of William D. Frazer as receiver. The bank was organized on Oct. 24, 1901, by Mr. Wood, who came here from Oberlin, O. For some time prior to that date he conducted it as a private bank. Charles Hayworth is cashier. J. R. Johnston, of Hartford City, is one of the stockholders. Overloaning is said to be the cause of the suspension. Following is a statement of the resources and liabilities of the bank, as shown by the last report of condition, dated Jan. 23, 1904: Resources-Loans and discounts, $69,996; overdrafts, $2,302; United States bonds to secure circulation, $13,000; stocks, securities, etc., $19,500; banking house, $2,000; due from banks and bankers, $16,480; cash and cash items, $9,458; redemption funds with treasurer United States, $625. Total, $133,363. Liabilities-Capital stock, $25,000; surplus and undivided profits, $4,417; circulation, $12,500; due from banks and bankers, $2,564; dividends unpaid, $40; deposits, $76,787; bills payable, $12,053. Total, $133,363.
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MATTHEWS NATIONAL BANK HAS CLOSED ITS DOORS The Comptroller of the Currency has been advised of the closing of the First National Bank, of Matthews, Ind. No information has been received on the cause of the failure. National Bank Examiner William D. Frazer has been appointed receiver The bank has resources of over $133,000.
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BANK AT MATTHEWS WILL REOPEN ,SOON Industrial Depression of the Town, Owing to Shut Down of Factories, Caused the Close. Special to the Indianapolis Journal. MUNCIE, Ind., Feb. 14.-C. H. Church, of this city, a member of the board of directors of the First National Bank, of Matthews, which closed its doors Saturday morning, said to-night that the bank would be reopened within a week. Mr. Church is eashier of the Delaware County Bank, of this city. State Bank Examiner Frazier, of Warsaw, who was last night given the place of receiver for the bank by the controller of the United States currency, was here in conference with Church to-day. Mr. Church suggested a plan for the resumption of the bank, which Receiver Frazier agreed was feasible and should bring about the resumption within a week. Mr. Church said the bank's closing was due to the industrial depression of the town, three factories being closed. He said no one would lose any money by the suspension.
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# GENERAL DOMESTIC. Two Guthrie, Ok., girls will go to Manila to be married. Chicago authorities refused to permit the use of "shot light" in Sir Henry Irving's production of "The Bells." Andy Washington, a convict at Jefferson City, secreted himself under the seat of an official's buggy, and was hauled away from the Penitentiary. He escaped to the country, but was recaptured at Elston and returned. Oil wells all over the Indian Territory are being developed. A bitter fight for the empty honor of electing-the delegate to the National Republican Convention is on between St. Joseph factions. A. Columbia bacteriologist announces that hogs can be made immune to cholera by inoculation. In anticipation of a big coal strike in the bituminous fields, the United Mine Workers are rushing organizers into the field. Wall street stock market bears up well in the face of cotton panic and the war in the Orient. The Reverend J. N. George, president of the Chicago Theological Seminary, has been asked to accept the presidency of Drury College at Springfield, Mo. Santa Fe Railway purchases lease on 1,000 acres of oil land at Ardmore, I. T. President Kelly of Brigham City resorts to drastic measures to force obedience to his authority, even threatening the young Mormons who refuse to do his bidding. The First National Bank of Matthews, Ind., it is reported, will be opened within a week. Bankers object to ruling requiring owners' names to be stamped on bonds. # SPORTING. Yale is planning to send her crack athletes to contest in the World's Fair games. The Stevenson-Block bout at the Columbian Athletic Club was called a draw yesterday. # FOREIGN. Sealed orders are received from Washington for a battalion of marines to sail from Colon. The destination is thought to be Santo Domingo. The Panama Constitution is delivered to the Government Junta. It will be approved and returned to-day. The presidential election is set for to-morrow. Marine Intelligence.
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Indiana Bank Stops. Washington. Feb. 16-The comptroller of the currency received a telegram announcing the suspension of the First National bank of Matthews, Ind. The bank was closed by resolution of the board of directors and National Bank Examiner Frazier has been appointed receiver. This bank was organized Oct. 24, 1901. The comptroller has no Information as to the cause of the directors' action.
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DOMESTIC. The president decided to send no soldiers to Baltimore. Representative Bede will introduce a bill providing a revenue cutter for use on Lake Superior. Fourth Assistant Postmaster General Bristow, who has been very ill with grip, is improving. The blockade of the Central Pacific railroad is reported to be serious. Snowsheds have been broken dewn. The steamer Empire State with thirty-eight passengers and crew, is icebound forty miles out in the lake from Chicago. Minister Powell has reported that a battle was fought recently at Sanchez, San Domingo, in which many were killed. The controller of the currency has received a telegram announcing the suspension of the First National bank of Matthews, Ind. The old battleship Maine, now at the bottom of Havana harbor, will be raised and exhibited at the St. Louis fair. Osage chiefs at Washington bought $520 worth of dainty valentines for President Roosevelt and other high officials. At Topeka, the Parkhurst-Davis wholesale grocery establishment was destroyed by fire early today, causing a loss of $250,000. A reputed anarchist who sailed on Majestic on Feb. 3 was arrested in Liverpcol for having 18 pounds of dynamite in his trunk. William A. McCowan, defaulting secretary of the University of California, has been sentenced" to serve six years and eleven months in prison. Jacob S. Matthews and wife. Chicago, were sued by Jchn R. Scott of Pittsfield, TIF.. for $10,000 for the alienation of Mrs. Scott's affections. Amadee Cypriot, who is believed to be mentally deranged. telegraphed his love to Mrs. Ella Wheeler Wilcox from Montreal and then came to New York to visit her. He was arrested. Further reports of the revolt among the Filipino constabulary at Vigan show that the deserters numbered only seventeen. They are being pursued. The Michigan's football team is threatened with being left in the cold next fall. No games have been sched-
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DOMESTIC. The president decided to send no soldiers to Baltimore. Representative Bede will introduce a bill providing a revenue cutter for use on Lake Superior. Fourth Assistant Postmaster General Bristow, who has been very ill with grin, is improving. The blockade of the Central Pacific railroad is reported to be serious. Snowsheds have been broken down. The steamer Empire State with thirty-eight passengers and crew. is icebound forty miles out in the lake from Chicago. Minister Powell has reported that a battle was fought recently at Sanchez. San Domingo, in which many were killed. The controller of the currency has received a telegram announcing the suspension of the First National bank of Matthews, Ind. The old battleship Maine, now at the bottom of Havana harbor, will be raised and exhibited at the St. Louis fair. Osage chiefs at Washington bought $520 worth of dainty valentines for President Roosevelt and other high of ficials. At Topeka. the Parkhurst-Davis wholesale grocery establishment was destroyed by fire early today, causing a loss of $250,000. A reputed anarchist who sailed on Majestic on Feb. 3 was arrested in Liverpcol for having 18 pounds of dynamite in his trunk. William A. McCowan, defaulting secretary of the University of California, has been sentenced to serve six years and eleven months in prison. Jacob S. Matthews and wife, Chicago, were sued by John R. Scott of Pittsfield, III., for $10,000 for the alienation of Mrs. Scott's affections. Amadee Cypriot, who is believed to be mentally deranged. telegraphed his love to Mrs. Ella Wheeler Wilcox from Montreal and then came to New York to visit her. He was arrested. Further reports of the revolt among the Filipino constabulary at Vigan show that the deserters num bered only seventeen. They are being pursued. The Michigan's football team is threatened with being left in the cold next fall. No games have been scheduled after Nov. 15. Both Harvard and Vale have refused to play it. The Chicago car barn bandits' conessions were verified at all points in the trial by the state's witnesses.
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STRONG FIGHT AGAINST ANTI-INJUNCTION BILL Commercial Interests Are Vigorously Opposing the Proposed Drastic Law. RIVALRY RECEIVERSHIP Special to the Indianapolis Journal. WASHINGTON, Feb. 25.-The fight now being made by the commercial interests on the bill is one of the most that has ever been before vigorous anti-injunction waged Congress in connection with a measure advocated by the labor unions. The committee on judiciary is holding daily hearings, talent available and the best legal appears in opposition to the measure. Frequently course of the before the intense develduring committee the bitterness argument is oped between the for the comleadmercial organizations in attorneys and the labor ers appearing support of the measure It was that the would be but indications concluded expected this week, hearings the are will be The comconsider the carefully mittee that will they extended subject and at length before the House. of an the American Daniel attorney Davenport, representing Bridgeport, Conn., the Council and the National Building Anti-boycott Trades Association, Chicago Builders' Trades Association, made exbefore the House commitDavenport said he was astee tended to-day. argument Mr. an sociated with James M. who the same line. The yesterday along Beck, argued judiclary committee room was filled with the of the measure. Mr. friends Davenport and is opponents to be questioned by the reprelabor who at the of his He sentatives conclusion of general favor argument. the bill said the bill would make lawfol agreements between associations of employers and labor unions by which a nonmember of either body would be excluded and boycotted; in certain respects it would make lawful "Sam Parkism, because extortion, which he declared was practiced by members of such as he had referred be combinations legalized to, would by the passage of the bill; it away from the States the right acts like the to would declare take criminal boycott. A merry fight is on between two or three for receivership applicants the of the First National Bank of Matthews, Ind. Members of the House are receiving urgent telegrams from the candidates. Everett W. Trook, of Matthews, is strongly indorsed for the appointment by Harry Miller, president of the Lincoln League, and Senator C. C. Lyon, of Fairmount, and Harry Drew, of Matthews. Representative Fred Landis has indorsed H. P. Loveland, and insists gentleman shall be appointed. Landis's that that wishes will probably prevail. Newton Myers, postmaster of Jeffersonville, left for New York to-day, where he will remain until next week. Connell, of Rushville, is here on his way to Europe. He was presented to President Roosevelt to-day by Representative Watson. + Leonard Garver, of Nashville, is among the recent Indiana arrivals. Representative Watson will leave for Indiana on Saturday. He will arrive in Shelbyville in time to attend the Sixth district convention next week. + C. F. Bicknell, of Fort Wayne, arrived here from New York to-day. He called on the Indiana senators and conferred with them concerning the Twelfth district. Delevan Smith, of Indianapolis, arrived here to-night. He is at the Arlington. + Rural free delivery will be established at State Line, Warren county, Indiana, on April 1. The route will be twenty-four miles long. with a population of 550; number of houses on route, 1,100. Senator Fairbanks to-day introduced an amendment to the sundry civil bill for an appropriation of $75,000 to pay the United States' portion of the expense of a building in Washington for the International Bureau of American Republics and the Columbus Memorial Library, and $50,000 for the purchase of a site. The Senate committee on military affairs to-day authorized a favorable report on a bill appropriating $25,000 for the erection a at Fort men officers under 530 of Arthur monument St. and fifty-one Recovery, General O., for Clair, who were massacred by Indians. An agreement has been reached between Senators Foraker and Blackburn to take up the question of the confirmation of General Leonard Wood Monday next and continue it until disposed of. Senator Elkins introduced a bill to regof and of ulate lading the by issuance receipts bills common carriers engaged in interstate commerce.
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Appointed Bank Receiver in Indiana. A. D. Lynch, formerly connected with the office of the comptroller of the currency, has been appointed receiver of the First National Bank of Matthews, Ind.
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Receiver for Matthews Bank. WASHINGTON, D. C., March 4.-A. D. Lynch, formerly connected with the office of the controller of the currency in Washington, has been appointed receiver of the First National Bank of Matthews, Ind.