6461. Germania Safety Vault & Trust Company (Louisville, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
January 20, 1897
Location
Louisville, Kentucky (38.254, -85.759)

Metadata

Model
gpt-5-mini
Short Digest
161acff71ba50ffd

Response Measures

None

Description

Articles report the trust company was placed in the hands of a receiver (Jan 20, 1897) after the collapse/suspension of the German National Bank (a large depositor). An assignment to Columbia Finance & Trust was made March 9, 1897, indicating permanent failure/closure. No bank run is described in the sources.

Events (2)
1. January 20, 1897 Receivership
Newspaper Excerpt
Judge Toney this afternoon appointed Charles F. Taylor receiver of the Germania Safety Vault and Trust company. The suit for the appointment was brought by Herman Wille and A. M. Elmer, who allege a violation of the charter. The stock of the trust company is practically owned by the stockholders of the suspended German National bank.
Source
newspapers
2. March 9, 1897 Other
Newspaper Excerpt
The Germania Safety Vault and Trust company made an assignment this afternoon to the Columbia Finance and Trust company. No schedule of assets and liabilities was filed. The Germania company went into the hands of a receiver when the German National bank collapsed.
Source
newspapers

Newspaper Articles (10)
1. January 21, 1897 Wheeling Register Wheeling, WV
Article from Wheeling Register, January 21, 1897

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Article Text

TROUBLES OF THEIR OWN. LOUISVILLE, Ky., January 20.-The Germania Safety Vault and Trust Company went into the hands of a receiver this afternoon at 1 o'clock Mr. Charles Taylor being named as receiver. The stop was brought about by a suit filed by Herman Wile and E. M. Emler. who claimed that the trust company did not have invested such funds as were required by law, and also that it had on deposit with the German National Bank, now in the hands of Examiner Escott. about $100,000. The plaintiffs asked the appointment of a receiver. and Judge Toney named Mr. Taylor. who at once assumed charge. HOLLIDAYSBURG Pa., January 20.The closing of the First National Bank of Hollidaysburg, the Martinsburg Deposit Bank and the Williamsburg Deposit Bank on December 14th last, precipitated the failure to-day of Col. Wm. Jack, who was the president of these three institutions. The judgment creditors are Wm. Howard. of Pittsburg. the First National Bank and the Martinsburg Bank. LYNN. Mass., January -The failure of Charles R. Rumsey, boot and shoe manufacturerry of this city, is announced. The failure is due. it is stated. to poor business and the failure of Burpee Rumsey, brother of Charles, several months ago. The assets and liabilities are not known. The capital invested in the business is $50,000 to $75,000. CINCINNATI, O., January 20.-The examination into the First Natial Bank of Newport will not be completed for a week. It is claimed from other sources that the indebtedness of Cashier Youtsey to the bank will reach $225,000. and it will not be possible to realize one-half his indebtedness. PHILADELPHIA, Pa., January 20.-A judgment has been issued for $57,000 against David F. Conover & Co., wholesale and retail jewelers. in favor of R. A. Kattle, trustee. The firm did $200,000 business last year. MINNEAPOLIS Minn., January 20.The Century Piano Company assigned, with assets $60,000; liabilities not stated. The failure was not a surprise. CHICAGO, January 20.-Judge Showalter this afternoon appointed Dickinson McAllister receiver for the Metropolitan Elevated Railway.

2. January 21, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 21, 1897

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Article Text

Stockholders Will Be Assessed. Louisville, Jan. 20.-Judge Toney this evening appointed Charles F. Taylor receiver of the Germania Safety Vault and Trust company. The suit for the appointment was brought by Herman Wille and A. M. Elmer, who allege a violation of the charter. The stock of the trust company is practically owned by the stockholders of the suspended German National bank. It is now said the stockholders of the bank will have to be assessed to pay depositors in full. The trust company's capital stock is $200,000.

3. January 21, 1897 The Morning News Savannah, GA
Article from The Morning News, January 21, 1897

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Article Text

A TRUST COMPANY IN TROUBLE. It Was Bound Up With the Defunct German Bank of Louisville. Louisvile, Ky., Jan. 20.-Judge Toney this aftemoon appointed Charles F. Taylor receiver of the Germania Safety Vault and Trust Company. The suit for the appointment was brought by Herman Wille and A. M. Emler, who ailege a violation of the charter. The stock of the trust company is practically owned by the stockholders of the suspended Geman National Bank. It is now said the stockholders of the bank will have to be assessed to pay depositors in ful. The trust company's capital stock is $200,000.

4. March 10, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, March 10, 1897

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Article Text

Louisville Assignment. LOUISVILLE, Ky., March 9.-The Germania Safety Vaulty and Trust company made an assignment this afternoon to the Columbia Finance and Trust company. No schedule of assets and liabilities was filed. The Germania company went into the hands of a receiver when the German National bank collapsed, J. M. McKnight being president of both institutions. It was reorganized, but was unable to do a paying business.

5. March 10, 1897 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, March 10, 1897

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Article Text

Germania Trust Company. Lousiville, Ky., March 9.-The Germania Safety Vault and Trust company made an assignment this afternoon to the Columbia Finance and Trust company. No sched ile of assets and liabilities was filed. The Germania company went into the hands of a receiver when the German National bank collapsed. J. M. Knight being president of both institutions. It was reorganized, but was unable to do a paying business.

6. March 10, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, March 10, 1897

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Article Text

" " Rah For McKinley." Louisville, Ky., March 9.-The Germania Safety Vault and Trust company made an assignment this afternoon. The failure was caused by the suspension of the German National bank, in which the Trust company was a large depósitor. The capital stock is $200,000. The last statement placed the assets and liabilities at $271,130 each. It is thought that stockholders will realize 50 cents on the dollar.

7. March 12, 1897 Twice-A-Week Plain Dealer Cresco, IA
Article from Twice-A-Week Plain Dealer, March 12, 1897

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FAILURE IN LOUISVILLE. A Trust Company Makes an Assignment-Its Affairs. Louisville, Ky., March 10.-The Germania Safety Vault & Trust company made an assignment Tuesday afternoon. The failure was caused by the failure of the German national bank, in which the trust company was a large depositor. The capital stock is $200,000. The last statement placed the assets and liabilities at $271,136.16 each. It is thought that stockholders will realize 50 cents on the dollar. J. M. McKnight, president of the German national bank, was also president of the' trust company, which he had placed in a receiver's hands at the time of the bank's failure. The stockholders secured possession again, however, and elected C. T. Dearing president.

8. March 13, 1897 The Diamond Drill Crystal Falls, MI
Article from The Diamond Drill, March 13, 1897

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The visible supply of grain in the United States on the 8th was: Wheat, 42,763,000 bushels; corn, 26,377,000 bushels; oats, 13,723,000 bushels; rye, 3,574,000 bushels; barley, 3,213,000 bushels. In Philadelphia Capt. John D. Hart was sentenced to two years in prison and to pay a fine of $500 for taking part in a filibustering expedition against the Spanish government in Cuba. The Consolidated Building & Saving company in Cincinnati failed for $230,000. Mr. Cannon, of Illinois, chairman of the appropriations committee of the house, says the appropriations of the Fifty-fourth congress amounted to $1,043,437,018, which is $49,797,812 more than the appropriations for the preceding congress. Jelenke Bros. & Loeb, the largest department store in Charleston, W. Va., failed for $100,000. The German American bank at Tonawanda, N. Y., which suspended about ten days ago, has resumed business. The entire village of West Boylston, Mass., is to be destroyed to make way for new waterworks for Boston. Clara Rawson Jaccard died of starvation in New York. In two months she would have inherited $21,000. It is said that the amount of money involved in the inaccuracies of the books of the Brotherhood of Locomotive Firemen-while Eugene V. Debs was grand secretary and treasurer is $57,000. The first formal meeting of President McKinley's cabinet was held and affairs of state were considered, including the president's message to congress. Leslie Combs, the most noted moonshiner in Kentucky was found dead near Hazard with his throat cut, He is said to have killed 50 men. A train struck Orlando Howe and two sons on a trestle near Oliphant, Ark., instantly killing Howe and one son and fatally wounding the other boy. A Louisville & Nashville north-bound mail train was held up by six masked men near Calero, Ark., and the express car was robbed of $10,000. Anderson & Co.'s private bank at Pleasant Plains, Ill., was gutted by burglars. Three persons were killed and one other fatally wounded by a fire in a apartment building in Brooklyn, N. Y. The first official order issued by Secretary Wilson, of the department of agriculture, concerns the exportation of beef to foreign countries and provides for assurance to foreign purchasers that they receive just what they buy. The will of the late Cornelia V. R. Thayer, of Lancaster, Mass., bequeaths $200,000 to charity. The Youngstown (0.) council passed a curfew ordinance, and at nine o'clock nightly fire-alarm whistles will be blown to warn boys and girls 14 years old and less to go home. A family by the name of Wilson was drowned in Richland creek near Washington, Ind., while trying to escape from a flooded house. Damages by a freshet in the vicinity of Bedford, Ind., will reach $2,000,000, all the county roads having been washed out and swept away and farm lands ruined. At Louisville, Ky., the Germania Safety Vault & Trust company made an assignment with liabilities of $271,000. The one hundred and thirteenth session of the "Mother" conference of Methodism in America came to an end in Baltimore. The great strike of the metallic miners of Leadville, Col., which has been in progress since June 19 last, was called off by the miners' union.

9. March 20, 1897 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, March 20, 1897

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Otherwise. The Marblehead is at l'ensacola, Fla., to watch filibusters. The attempt to settle the strike at the Globe ship yards at Cleveland, has failed. A long and bitter struggle seems to be in prospect. The Oklahoma divorce of John G. Driscoll has been declared invalid in New York. His wife has been given a decree. A bill for a press censorship, every paper to have a censor on its staff, is prepared for the consideration of the New York legislature. The directors of the Northwestern road have declared the regular quarterly dividend of 13-4 per cent on preferred stock and payable April 6. Vice Admiral Don George Montt, expresident of Chile, was at Annapolis. Md., to pay a visit of inspection to the naval academy. He was received with ceremony. The Sliger Lumber. and Manufacturing Company of Huntington, W. Va., went into the hands of Charles Nash as receiver. The assets exceed $200,000; liabilities unknown. The first of the series of strikes that will probably involve 10,000 mechanics of the building trades was ordered by a committee of the board of walking delegates at New York. The Pioneer and Arctic Iron Mining companies have begun suit at Marquette, Mich., to prevent the sale of their lands within the Negaunee city limits for $4,000 in back taxes. The Germania Safety Vault and Trust company of Louisville, Ky., has made an assignment to the Columbia Finance and Trust company. No schedule of assets and liabilities was filed. The work of making allotments on the Wichita reservation in Kansas will begin at once. Agents Coleman and Mills will be en route Monday morning. The work will occupy about nine or ten months. At Boston District Attorney Sherman Hoar apparently has brought an end to the famous Maverick bank case of six years ago by placing on file indictments found by the United States grand jury in 1891. Within the past few weeks the Iowa Iron Works of Dubuque, that built the Windom and Ericsson. has received letters inviting propositions for the construction of steamers for Alaska, British Columbia and South Africa. The People's Railway company and the Fourth Street & Arsenal company of St. Louis. both of which went into the hands of a receiver Monday, will be reorganized and consolidated by the bondholders. Kelly beat Plimmer in the twentieth round in the fight before the Olympic Club of Birmingham, Eng. After Plimmer had done all the work for nineteen rounds he was knocked out. It was considered a very lucky win. The pool room law as it at present stands upon the statute books of Missouri was declared unconstitutional by the supreme court. The decision holds that the law is invalid because it is class legislation. When the decree of Justice Brewer is amended the Union Pacific Telegraph company will be divorced from the Western Union Telegraph company and will be open to all competitors from Omaha west. Gov. Black of New York has signed the "knock-out drops" bill which makes it a felony for any person other than a licensed druggist or physician to have in his possession or to administer to any person a drug or narcotic. Evan Lewis. the "Strangler," has posted a forfeit of $250 with the Chicago Times-Herald in support of a challenge to wrestle "Farmer" Burns for $500 or $1,000 a side, two in three, or three in five falls, catch-as-catch-can rules. The thirty-seventh annual meeting of the Association of Chambers of Commerce of the United Kingdom has opened at the Hotel Metropole at London. The chair was taken by Sir Stafford Northcote, C. B., M. P., the president.

10. March 20, 1897 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, March 20, 1897

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DOMESTIC. The legislature of Indiana adjourned sine die, after having been in session 61 days. Gus Norling, aged 35, a stereotyper at Kansas City, Mo., shot his wife fatally and then killed himself during a quarrel. The Consolidated Building & Saving company in Cincinnati failed for $230,000 Mr. Cannon. of Illinois, chairman of the appropriations committee of the house. soys the appropriations of the Fifty-fourth congress amounted to $1.043.437.018, which is $40,797,812 more than the appropriations for the preceding congress. Jelenke Bros. & Loeb, the largest department store in Charleston, W. Va., failed for $100,000. The German American bank at Tonawanda. N. Y., which suspended about ten days ago, has resumed business. The entire village of West Boylston, Mass., is to be destroyed to make way for new waterworks for Boston. Clara Rawson Jaccard died of starvation in New York. In two months she would have inherited $21,000. In Philadelphia Capt. John D. Hart was sentenced to two years in prison and to pay a fine of $500 for taking part in a filibustering expedition against the Spanish government in Cuba. It is said that the amount of money involved in the inaccuracies of the books of the Brotherhood of Locomotive Firemen while Eugene V. Debs was grand secretary and treasurer is $57,000. The first formal meeting of President McKinley's cabinet was held and affairs of state were considered, including the president's message to congress. Lealie Combs, the most noted moonshiner in Kentucky was found dead near Hazard with his throat cut. He is said to have killed 50 men. A train struck Orlando Howe and two sons on a trestle near Oliphant, Ark., instantly killing Howe and one son and fatally wounding the other boy. A Louisville & Nashville north-bound mail train was held up by six masked men near Calero, Ark., and the express car was robbed of $10,000. Anderson & Co.'s private bank at Pleasant Plains, III., was gutted by burglars. Three persons were killed and one other fatally wounded by a fire in a apartment building in Brooklyn, N. Y. The first official order issued by Secretary Wilson, of the department of agriculture, concerns the exportation of beef to foreign countries and provides for assurance to foreign purchasers that they receive just what they buy. The will of the late Cornelia v. R. Thayer, of Lancaster, Mass., bequeaths $200,000 to charity. The Youngstown (0.) council passed a curfew ordinance, and at nine o'clock nightly fire-alarm whistles will be blown to warn boys and girls 14 years old and less to go home. A family by the name of Wilson was drowned in Richland creek near Washington, Ind., while trying to escape from a flooded house. Damages by a freshet in the vicinity of Bedford, Ind., will reach $2,000,000, all the county roads having been washed out and swept away and farm lands ruined. At Louisville, Ky., the Germania Safety Vault & Trust company made an assignment with liabilities of $271,000. The one hundred and thirteenth session of the "Mother" conference of Methodism in America came to an end in Baltimore. The great strike of the metallic miners of Leadville, Col., which has been in progress since June 19 last, was called off by the miners' union. The California Mortgage, Loan and Trust company at San Diego failed for $200,000. A cyclone a mile wide struck Ralston, O. T., and nearly every house in town and in the path of the storm was blown down. Many persons were wounded. The Western association baseball season will open April 29 and close September 22, making a total of 126 games, The dam in the Genessee river at Mount Morris, N. Y., was washed away by a flood, causing a loss of $100,000.