6539. German National Bank (Newport, KY)

View Charter #2726 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
2726
Charter Number
2726
Start Date
November 17, 1900
Location
Newport, Kentucky (39.091, -84.496)

Metadata

Model
gpt-5-mini
Short Digest
a66392765ada73fb

Response Measures

Public signal of financial health, Capital injected, Full suspension, Books examined

Description

Assistant cashier Frank M. Brown allegedly embezzled roughly $191,000–$201,000. Rumors had prompted withdrawals and at least one reported 'run' or heavy withdrawals; the Comptroller/examiner closed the bank and appointed a temporary receiver. Subsequent examiner reports indicated assets sufficient to pay over 90% and stockholders planned assessment to restore solvency, with resumption contemplated.

Events (6)
1. June 10, 1882 Chartered
Source
historical_nic
2. November 17, 1900 Run
Cause
Bank Specific Adverse Info
Cause Details
Rumors and discovery/allegation of large defalcation by assistant cashier Frank M. Brown (≈$191,000–$201,000) led depositors to withdraw funds.
Measures
Officers issued statements reassuring public; bank examiners investigated; subsequently Comptroller/examiner took possession and posted notice closing the bank.
Newspaper Excerpt
For two weeks there have been rumors that Brown was short, and some depositors withdrew their accounts. There was quite a run on the bank Saturday
Source
newspapers
3. November 18, 1900 Suspension
Cause
Government Action
Cause Details
Closed by order of the Comptroller of the Currency/United States bank examiner after discovery of a large defalcation by assistant cashier Frank M. Brown (~$191,000–$201,000).
Newspaper Excerpt
United States Bank Examiner Tucker today took possession of the German National Bank at Newport, Ky., and posted a notice that the bank would remain closed pending an examination.
Source
newspapers
4. November 19, 1900 Other
Newspaper Excerpt
Comptroller of the Currency Dawes has appointed Oliver P. Tucker, national bank examiner, temporary receiver of the German National bank of Newport, Ky.; Mr. Tucker telegraphed the comptroller that he had taken charge owing to the discovery of a defalcation amounting to about $196,000, and thereupon the comptroller appointed him temporary receiver.
Source
newspapers
5. November 19, 1900 Receivership
Newspaper Excerpt
Bank Examiner Tucker placed in charge as temporary receiver.
Source
newspapers
6. November 27, 1900 Other
Newspaper Excerpt
There is at the present time cash and remaining assets on hand sufficient to realize to the depositors something over 90 per cent of their claims. Efforts are being made on the part of the stockholders and directors of the bank to restore the bank to solvency ... The conditions of resumption will be fixed by the controller today or tomorrow.
Source
newspapers

Newspaper Articles (23)
1. November 19, 1900 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, November 19, 1900

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SHORT $201,000. German National Bank of Newport, Ky., Wrecked. Assistant Cashier Brown's Fast Living Said to Be Cause. MAKES HIS ESCAPE WITH PLENTY OF CASH. Cincinnati, Ohio, Nov. 18.-United States Bank Examiner Tucker, today, took possession of the German National Bank at Newport, Ky., and posted a notice that the bank would remain close pending an examination Examiner Tucker also announced unofficially that Frank M. Brown, the individual bookkeeper and assistant cashier, was missing and that a partial investigation showed that Brown was short about $201,000. Brown had been with the bank 18 years, was one of the most trusted men ever connected with this old bank and it is stated by the expects that his peculations extended back as far as 10 years. The capital stock of the bank is only $100,000. Prown's alleged shortage is double that amount and more than the reserve and all the assets, including the real esstate. The First National Bank of Newport, was wrecked two years ago by Cashier Youtsey and now the German National Bank closed. Newport has only one bank left. For two weeks there have been rumors that Brown was short, and some depositors withdrew their accounts. Three weeks ago, the bank examiners made a good statement for the bank and the officers and directors allayed suspicion by referring to the

2. November 19, 1900 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, November 19, 1900

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Intimation that Bank Officials Made False Statements Regarding the Condition of the Institution. STOCK PLUNGER IN TROUBLE F. D. CARLEY, GOTHAM BROKER, DECLARES HIMSELF BANKRUPT. Liabilities Are More than a Million, the Assets Nothing-Several Heavy Western Creditors. CINCINNATI, Nov. 18.-United States Bank Examiner Tucker to-day took possession of the German National Bank at Newport, Ky., and posted a notice that the bank would remain closed pending an examination. Examiner Tucker also announced unofficially that Frank M. Brown, the individual bookkeeper and assistant cashier, was missing and that a partial investigation showed that Brown was short about $201,000. Brown had been with the bank eighteen years, was one of the most trusted men ever connected with this old bank, and it is stated by the experts that his operations extend back as far as ten years. The capital stock of the bank is only $100,000. Brown's alleged shortage is double that amount and more than the reserve and all assets, including real estate. While Alvord got away with $700,000 in New York, he did it in a large bank, but Brown did not have SO much to go on and seems to have gone the full limit for a small bank, in a city of less than 30,000 inhabitants. The First National Bank of Newport was wrecked two years ago by Cashier Youtsey, and now, with the German National closed, Newport has only one bank left. For two weeks there have been rumors that Brown was short and some depositors withdrew their accounts. Three weeks ago the bank examiners made a good statement for the bank, and the officers and directers allayed suspicion by referring to the report of this examination and to their last statement, in which all of Brown's alleged defalcations were covered up. Last Wednesday Brown left, and it was announced that he had gone hunting on a vacation. He did get a ticket for Odin, III., but It is learned now that he did not go there, and it is generally believed that he is out of this country, with plenty of money in his possession. It is learned today that Brown was suspended last Tuesday pending an investigation, and that experts have been at work all the past week, while the officers and directors have been announcing that everything was all right. Last Friday the officers and directors, over their own names, published in the papers of this city a statement that the bank had been found to be all right and that the rumors about Brown were false. They continued making these statements to the press as late as last midnight, but the statements were not accepted by the Commercial-Tribune, which exposed the true condition of affairs, and thus caused a panic in Newport to-day, SO that the bank had to be taken in charge by the examiner. The wildest scenes were witnessed in Newport to-day, and serious trouble is feared to-morrow, when the officers and directors will be confronted by people who have hunted them in vain today. Brown was living a fast life, with wine, women and gambling in repertoire. His career was not cut short by any discovery at the bank till a jealous woman gave him away. Brown is a widower with one son, aged ten years, who lives with Brown's father, Paris C. Brown, ex-mayor of Newport and one of the leading business men of Cincinnati. Last summer Brown visited Yellowstone Park, and a woman that he is said to have maintained in Cincinnati wanted to accompany him, but this was denied her. When she ascertained some time afterward that another woman was with Brown on his Western tour the Cincinnati woman gave the bank officials some information that brought about the crisis. The only farewell letter that Brown is known to have left was to this woman, whose apartments are on Ninth street, in Cincinnati, and in this letter he admits that he had secured about all that he could get and that the time had come to say farewell. Brown was a great poker player, with the limit never too high, and he had been a plunger on horse races for years. His bets the races were frequently too high for the poolrooms in Covington, Ky., and he had brokers in both Chicago and New York. Among the directors is Paris C. Brown, the father of the defaulter, who is known from Fittsburg to New Orleans at every river wharf as the head of the stores for boat supplies. The cashier of this bank is also the paying teller, and Brown relieved him as paying teller when the cashier went to his dinner. It is stated that Brown did most of his work during the noon lunch of the cashier. There was quite a run on the bank yesterday, but the usual announcement was made, as it continued to be made to the press till after midnight. More of a rush is expected at the bank even if

3. November 19, 1900 Daily Inter Mountain Butte, MT
Article from Daily Inter Mountain, November 19, 1900

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Cincinnati, O., Nov. 19.-"This bank is closed by order of the comptroller of the O. P. TUCKER, currency. "National Bank Examiner." The above notice appeared on the doors of the stately building of the German National bank, of Newport, Ky., prior to the time for opening today. The salient facts of the cause of the notice had been known since Sunday morning, and there fore there were none of the usual scenes accompanying a run on the bank by depositors. The alleged defalcation of Assistant Cashier Frank M. Brown to the amount of about $200,000 was a fact so overwhelming that no depositor was foolish enough to suppose that any good could be accomplished by attempting to get money from the bank today. Natinal Bank Examiner O. P. Tucker, wh is in charge, in an interview today, said that the alleged defalcation was not discovered foy him until 10 o'clock on Saturday night. that both he and the bank's own experts had been unable to find anything wrong until that time. The discovery was made in a comparison of Brown's individual ledger with the cashier's daily checking up. Here, he said, it was found that Brown had been forging balances from day to day, until the total of $192,000 had been withdrawn from the funds of the bank. The examiners further said the matter of criminal proceedings had been referred to United States District Attorney Hill, of Louisville, who would cause a warrant for

4. November 19, 1900 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, November 19, 1900

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WRECKED THE BANK. Cashier Steals More Than Double the Capital Stock Cincinnati, Nov. 19.-United States Bank Examiner Tucker today took possession of the German National bank at Newport, Ky., and posted a notice that the bank would remain closed, pending an examination. Examiner Tucker also announced unofficially that Frank M. Brown, the assistant cashier, was missing, and that a partial investigation showed that Brown was short about $201,000. Brown had been with the bank eighteen years, was one of the most trusted men ever connected with this bank, and it is stated by the experts that his operations extended back as far as ten years. The capital stock of the bank is only $100,000. Brown's shortage is double that amount, and more than the reserve and all the assets, including their real estate. While Alvord got away with $700,000 in New York, he did it in a large bank. Brown did not have SO much to go on, and seems to have gone the full limit for a small bank in a city of less than 30,000 inhabitants. The First National bank of Newport was wrecked two years ago by Cashier Youtsey and now, with the German National closed Newport has only one bank left. For two weeks there have been rumors that Brown was short, and some depositors withdrew their accounts. Three weeks ago the bank examiners made a good statement for the bank and the officers and directors allayed suspicion by referring to the report of this examination and to their last statement, in which all of Brown's defalcations were covered up by him. Last Wednesday Brown left, and It was announced that he had gone hunting on a vacation. He did get a ticket for Odin, Ill., but it is learned now that he did not go there, and it is generally believed that he is out of this country with plenty of money in his possession. It is learned that Brown was suspended last Tuesday, pending an investigation, and that experts have been at work all the past week, while the officers and directors have been making announcements that everything was all right. Last Friday the officers and directors published in the papers of this city a statement that the bank had been found to be all right, and that the rumors about Brown were false. They continued making these statements to the press as late as last midnight, but the statements were not accepted by the Commercial Tribune, which exposed not only Brown, but also the bank officers, and caused a panic in Newport today, SO that the bank had to be taken in charge by the examiner. The wildest scenes were witnessed in Newport today, and serious trouble is feared tomorrow when the officers and directors will be confronted by the people, who have hunted them in vain today. Brown was living a fast life, with wine, women and gambling in his repertoire. His career was not cut short by any discovery at the bank until a jealous woman gave him away. Brown is a widower, with one son, aged 10 years, who lives with Brown's father, Paris C. Brown, ex-mayor of Newport, and one of the leading business men of Cincinnati. Last summer Brown visited Yellowstone Park and a woman whom he is said to have lived with in Cincinnati wanted to accompany him, but this was denied her. When she ascertained sometime afterward that another woman was with Brown on his western trip, the Cincinnati woman gave the bank officials some information that brought about a crisis. The only farewell letter that Brown is known to have left was to this woman, whose apartments are on Ninth street, in Cincinnati, and in this letter he admits that he had secured about all that he could get and that the time had come to say farewell. Brown was a great poker player, with the limit never too high, and he had been a plunger on horse races for years. His bets on the races were frequently too high for the pool rooms in Covington, Ky., and he had brokers in both Chicago and New York. The officers of the German National bank are: President, Henry Weidener. vice president, Jamess M. Southgate; cashier, E. C. Remme. All of them are wealthy and responsible men, and they will be able to make the losses good, but the fate of the bank is in doubt, owing to intense feeling among the depositors. Among the directors is Paris C. Brown, the father of the defaulter who is known from Pittsburg to New Orleans as the head of the stores for boat supplies. The cashier of this bank is also the paying teller and Brown relieved him as paying teller when the cashier went to his dinner. It is stated that Brown did most of his work during the noon lunch of the cashier. There was quite a run on the bank Saturday, but the usual announcement was made, as it continued to be made to the press till after midnight. but

5. November 19, 1900 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, November 19, 1900

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Cincinnati, O., Nov. 18.-United States Bank Examiner Tucker today took possession of the German National bank at Newport, Ky., and posted a notice that the bank would remain closed pending an examination. He also announced unofficially that Frank M. Brown, the assistant cashier, was missing, and that a partial investigation showed that he was short about $201,000. Brown, who is the son of Paris G. Brown, ex-mayor of Newport, and one of the leading business men of Cincinnati, has been with the bank for eighteen years, and was one of its most trusted men. Experts state that his operations extend over a period of ten vears. He left on a vacation last Wednesday, and is supposed to be out of the country. It is generally believed that he has taken with him a considerable sum of money. Woman Is His Undoing. Brown, it is alleged, has lived a fast life with wine, women and gambling in his repertoire. His. career was cut short by a jealous woman, who made his doings known to the bank's officials. Brown's alleged shortage had been rumored for some time, but the bank officials and directors have repeatedly declared that his accounts were correct, and that everything was all right. The wildest scenes were witnessed in Newport today when Examiner Tucker's announcement was made public, and serious trouble is expected tomorrow when the bank officials are confronted by the people, who have hunted in vain for them today. The capital stock of the bank is only $100,000. Brown's shortage is double that amount, and more than the reserve and all the assets, including the bank's real estate. Protected by Examiners. For two weeks there have been rumors that Brown was short, and some depositors withdrew their laccounts. Three weeks ago the bank examiners made a good statement, and the officers and directors allayed suspicion by referring to this report and to their last statement. Last Wednesday Brown left the city, and it was announced that he had gone on a vacation. He did get a ticket for Odin, Ills., but it is learned now that he did not go there, and it is generally believed that he is out of the country with plenty of money in his possession. It is learned that Brown was suspended last Tuesday, pending an investigation. and that experts have been at work all the past week. Last Friday the officers and directors published in the papers of this city a statement that the bank had been found to be all

6. November 20, 1900 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 20, 1900

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OFFICIALS ARE SURPRISED. Cannot Understand How a Bank Could Be Looted as Was the Newport. WASHINGTON Nov. 19.-Comptroller of the Currency Dawes has appointed Oliver P. Tucker. national bank examiner, temporary receiver of the German National bank of Newport, Ky: Mr. Tucker telegraphed the comptroller that he had taken charge owing to the discovery of a defalcation amounting to about $196,000, and thereupon the comptroller appointed him temporary receiver. The officials here consider It astonishing that a defalcation amounting to more than the reserve of the bank could have remained undiscovered for any length of time, but they attempt to offer no explanation, as Mr. Tucker has not yet furnished any details. The last examination of the bank was made In May last. The following is a statement of the condition of the bank as shown by Its sworn report to the comptroller of the currency under date of September 5: Liabilities-Capital stock. $100,000; surplus and undivided profits. $50,630.47: circulation, $25,000: due to other banks, $16.178.45: deposits, $534,904.22: borrowed money. $10,000; total. $736,713.14. Remources-Loans and discounts, $512.451.51: United States bonds to secure circulation, $25,000; premium on bonds, $1.081.25: banking house, furniture and fixtures, $32,012.29: real estate owned, $34.992.63: cash on hand and with banks, $130,235.46: total. $736,713.14. The directors of the German National bank. at Newport, Ky., tonight issued a call for a meeting of stockholders on Wednesday, at which time a proposition will be presented for such an assessment as will insure the reopening of the bank at an early date. and, If possible. prevent the appointment of a. permanent receiver to wind UD the affairs of the concern. The heaviest depositors have already agreed to withhold all claims.

7. November 21, 1900 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, November 21, 1900

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DEFAULTER BROWN HAS FLED TO CANADA He Was Seen and Recognized at Fort Wayne. BANK TO BE REORGANIZED Stockholders to Be Assessed and Business Resumed-Receiver Opens the Bank to Collect Debts and Inspect Depositors' Checkbooks. FORT WAYNE, Nov. 20.-Frank M. Brown, late assistant cashier of the German National bank of Newport, Ky., whose defalcations of nearly $200,000 caused his flight on Tuesday last, week, is now in Canada. He was seen and recognized in Fort Wayne yesterday by Fred J. Stone, an intimate acquaintance, and the latter last night stated that at 9:30 o'clock Brown was in the Dominion of Canada. He had been in St. Louis, where he was reported on his way to South America, but he changed his direction and came through Illinois and Indiana and thence to Canada.

8. November 21, 1900 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, November 21, 1900

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SAYS HE SAW BROWN. NEWPORT PANK DEFAULTER EN ROUTE TO CANADA. NEWPORT, Ky:, Nov. 20.-Plans are being formulated for the reorganization of the German National bank, now in the hands of Bank Examiner Tucker, as temporary reciver, owing to a shortage of nearly $20,000 charged to Assistant Cashier Frank A. Brown. An assessment of $145 per share is the plan under consideration. Frederick J. Stone, who claims to be an intimate acquaintance of Brown, states that he met the latter yesterday in Fort Wayne. Ind., and that he was en route to Canada. The first suit brought in the case of

9. November 21, 1900 Decorah Public Opinion Decorah, IA
Article from Decorah Public Opinion, November 21, 1900

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Bank at Newport, Ky., Closed. Cincinnati, Nov. 19.-"This bank is closed by order of the comptroller of O. P. TUCKER, the currency. "National Bank Examiner." This was the notice placed on the doors of the stately building of the German National bank of Newport, Ky., before the time for opening. The salient facts of the cause of the notice had been known since Sunday morning and, therefore, there were none of the usual scenes accompanying a run on the bank by depositors. The alleged defalcation of Assistant Cashier Frank M. Brown to the amount of about $200,000 was a fact so overwhelming that no depositor was foolish enough to suppose that any good could be accomplished by attempting to get money from the bank at present.

10. November 22, 1900 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, November 22, 1900

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OF THE WEEK the Wide of Ten the The Society has the General Army Three Baltimore his store, the Phil from headqualifiers Thirteen been vancisco eler near police sent from to the the govern have San Washington Franciscon elec state ippines hospital at lum at from urality the of has 1,898 ment Comp in Idaho electors. returns show fusion, ennounce tions for Brya of elector 2,233 for of Hawaii at 154,001 an in as unreality hureau This is The 1896 cent iron has by the 109,020 in 41.2 per of pig via Ga ed 44,981 or 1.000 tons AIR., the in made prease agains of of from Florenc This a is for third port. A been shipment tremen 60 days to of has court appeals the Tennedy Kenneds mur grast who was Reynolds eign The New new York trial envicted to Dr. at of the the Grand gen dentist "Dolly York city. Buschester vicar and hotel der in Father New diocese John E. of asstor Manches of St killed John's by a cable eral of Rev. of the N.H. and was instant New York city Dr who Concord Concord Broad ounces that 25 the church, car on Sun for nearly John The Baltimore Gilman agident ignified of his in Hopkins years Willing Daniel has C. Licensity been that has position signified and torpedo tention of private life. of the held new in Chess of the tiring to second trial has bee volution attained per of peed The Stock with 360 vessel hour boat bay minute 26 the knots per F Smith of contract collect Smith her General has been General colonel of now the San Francisco Frattoms custome Manila as and is or went to California the Island of Negros to be built governor First of packing the plant is repectady. governor A pork of men have Over 50 concern Bellevue, business stock of $25,000 from the start Schemecapital emp ready for business ed the will be will be at the employed The in the spring men and boys Shamokin Ps. The 300 colliery Monday been work Colbert on strike workers were have returned the dis attending The ployees charged James went of the mine company funeral Instated Mc Commission has died H by Cartby Police fever of Newark Mr. M of Carthy the Ussioner terms apointed police in April. typhoid member commiss He leaves and was application Seymou child Omaha Mayor and one count of closed. show seven widow official Neb. has and th Douglas The county Republicated senator This gives of bal the one organisa ation joint ing the votes on of fire representations Republican senate, 72 majority of Penn house and National of the mounced state vivania 5.258 lot population 115 against 1.044 The as officially 6,803 of is cent. increase census 1890. This an The popu of 975 1890. 014 in or 19.8 382,891. RR 1880 to ord 101, cent, from of the 1880 was 22.7 per chief report shows of 123, or guns General in his CORRT defense 788 ppropra nance conditure bureau. on of heav guns for our less an 240,785 out we have and 658 new smoke sue cessful. ated and coast that defenses which has proved Alstaeter Frederick W putured by centenant Lieutenass who was last of his captors money the in Luzon Asion permission for food, insurgents with the asking forwarded is sent. Manila will be His healt letter clothing. which runner tical and him by and his release Andrew problem Kerr, Campbell indict broken McAllister George at Walter Death and of Jennie were William Destander murder J.) mill Supreme girl, Court Judge set ed for the (N. before not guilty of the Paterson on Al pleaded the date are raigned signed Dixon Jan be tried. designated Judge Dixon defend tendants has Harrison which the master John R. the acting ottoffice The P Inspect Havan of in Cuba pend For Postonemaster of posts Genera York now director herence general of lescing Director in eumonia New MI St ing the who is fever and Louis division to of month nes, yellow from the internal $27. from is of age wated the same the 495 against are The The October 446 for classi to $6 formeurs $231. month 464, last year Spirits, 306 liquors, special fied corps bacco 491,488 $53,571 swamp taxes, $53,011 United States bodies in the a island Un100 dead on by the The over Galvestor Teleeston posited dead found west of been the road just where the Sept. had 8 The way place discor near by storm were in of out and of had the not sent been out after the county the burying parties chief clerk of the storm. Dufferin esioners Putelle, office at londike against out gold comm the past at €20,000,000 Next year's as gold will timates put gold for 1899. he year's thinks ship 000,000 of the Klong or this Consult M output reach $25,000 United $14,000,000. States New of gold of bank of ment has records National on acco unt of Cook German cash The Ky. infalcation has been by its received assistant at Bank the port, heav reliminary defalcation report from National ier A prepartment who has been bank. places treasury Tucker, receiver of Cashier the Brown's Examiner Examinorary opinion ed temporary amount of Assistant $191,500. of In the the defalca the defalcation at the bulk last six months of the of the ccurred in examiner the 700 empl which has tion strike of Archbald the Pa. has been of Forest The mine since at last March, mmittee continued settled by with represent com and last satisfact contractorily conference Western stern Fri day miners in Ontario the mine the COD tives of the bought nearly all in the cars, of at pany. The whiterikerw.got remanded, decrease check weighma $1 head increase also vardage; weight of of loaded shaft and an wances for re for years tellar on moving rock water Zoller, aged 31 of the sischarg Roches Henry J serving paying who was tion after mer Mayings from that institut been Tronton, ed last March $100, brought has back and O., and with forgery the bank disco at charged few days checks, ago REgre ed the grand larceny eight which had been in forg the officials upon depositor untouch eating names $2,092 accounts of former had been several bank whose years. has Ludington ed olived Quarternation for termaster General that the transp

11. November 22, 1900 Eagle River Review Eagle River, WI
Article from Eagle River Review, November 22, 1900

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CLOSED BY MR. DAWES. Newport, Ky., Bank in Hands of Ixaminer Tucker. The German National Bank of Newport, Ky., has been closed by order of the Comptroller of the Currency, and Bank Examiner Tucker placed in charge. as temporary receiver. Twice the amount of its capital stock is missing from the vaults of the bank as a result of the op: erations of Frank M. Brown, the individual bookkeeper and assistant cashier, who is missing. Mr. Tucker made theunofficial announcement that Brown is short about $201,000. Brown had been with the bank eighteen years, and it is stated by the experts that his operations: extended back as far as ten years. For two weeks there have been rumors. that Brown was short, and some depos itors withdrew their accounts. Threeweeks ago the bank examiners made a. good statement for the bank and the officers and directors allayed suspicion by referring to the report of this examination and to their last statement. The wildest scenes were witnessed in Newport when the notice was posted. Theofficers of the German National Bank areall wealthy and responsible men, and they will be able to make the losses good.

12. November 22, 1900 Grant County Herald Lancaster, WI
Article from Grant County Herald, November 22, 1900

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New York, have failed. There are numors of a big' defalcation. The St. Paul railroad has given notice of an is trease in the pay of engine men. Late reports indicate that the liabilities of W. L. Strong & Co., of New York may reach $6,000,000. Chicago architects are preparing for A rush of business in the building industry. The affairs of the late W. L. Strong of New York appear in bad shape Mrs. Griswold of Philadelphia is trying to recover $180,000 put in his hands. The Northwestern railroad has decided to build a third track to Clinton, la. The Cumberland Telephone company has bought the telephone system at Nicholasville, Stanford and Lebanon, Ky. The Philadelphia Evening Call has made an assignment for the benefit of creditors and ceased publication. Linseed directors passed a dividend because of financial obligations. Contracts for over 200,000 tons of steel and iron were taken during the past week by Pittsburg manufacturing concerns. The German National bank at Newport, Ky., which lost $191,000 through defalcation. sent the rest of its money to Cincinnati, thus averting a run by the angry depositors. The bank is now in the hands of the comptroller of the currency. Exports for October and also for the first ten months of the year break all records in the history of American commerce. The union machinists of Youngstown. O., have demanded an increase of 10 per cent. in wages and a nine and one-half hour workday instead of ten, as at present. Transactions on the New York stock exchange surpass in amount anything before known in its history.

13. November 23, 1900 The Colfax Gazette Colfax, WA
Article from The Colfax Gazette, November 23, 1900

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same hands during the coming administration. The annual report of United States Commissioner of Fish and Fisheries George M. Bowers says the total number of fish distributed by the government in the past fiscal year was 1,164,336,754 an increase principally of shad, cod, flatfish, whitefish and lake trout of about 100,000,000 over the previous year The opinion is growing among pubile men who are in the confidence of the president that he will oppose any movement looking to a reduction of the congressional representation of the southern states on account of charges of the disfranchisement of colored voters. The president is said to be opposed to reviving ill feeling, which he thinks would be the result of a bill thus touching the south's suffrage. Saturday, November 17. It is reported that Senator Spooner of Wisconsin will succeed Attorney General Griggs, who will retire from the cabinet at the end of President McKinley's preseat term. The New York clearinghouse made an unexpected good showing for the week ending November 17, cash increases having surpassed all expectations. The gain footed up $5,208,300, divided almost equally between legal tenders and specie. The increase was due for the most part to operations with the treasury, although it is known that New York gained appreciably during the week from the interior. Then, too, a portion of belated gold imports figured in the reserve item. Three cowboys-John and Albert Berdice and Tobias Berner-fought a duel in the mountains near Otto, Wyo. Three horses were killed and the Berdices were both wounded. John was shot in the arm and Albert in the stomach. It is alleged the two families have been at war for some time, and further trouble will probably ensue. A United States surveying corps found over a hundred dead bodies in a swamp just west of Galveston, Texas, on the island where they had been deposited by the storm of September 8. The unburied dead were in an out of the way place near the county road and had not been diecovered by the burying parties sent out after the storm. The annual report of the commissioner of internal revenue for the fiscal year ending June 30, 1900, shows a collection exceeded by only one in the history of the bureau. The receipts, 293,163,197, being $10,316,107 in excess of the esti mated amount and $21,831,534 more than during the previous year. The percentage of cost of collection was 1.58, as against 1.68 for last year, being the smallest in the history of the internal revenue service. Sunday, November 18. Chae. R. Holmes of San Francisco wedded Miss Hattie Norton at Windsor, Oatario. At Detroit she drew $700 from bank at her husband's request and he disappeared with it. They met through agency of a matrimonial bureau. Coroner's jury at Limon, Col., found that John Porter. the negro burned at the stake by a mob for assault upon and murder of 11-year-old Louise Frost, came to his death at hands unknown, though there was no secrecy among the 300 who did it. Frank M. Brown, assistant cashier of the German National Bank of Newport, Ky., disappeared $201,000 short. The bank is wrecked. He led a fast life with wine and women. In the burning of the McGonigal house at Oswayo, Pa., four men perished. After a 35,000 mile trip through Siberia, Russia and Europe,W. M. Banker, commissioner of foreign commerce of the San Francisco chamber of commerce, saye: "The transsiberian railroad has given this country a large market for foodstuffs and other supplies, and this market will keep pace with the increasAl ing colonization of eastern Siberia. though the railroad has been running as far as Irkutsk for two years, the countries of Europe, aside from Russia, have not benefited by the new transportation facilities. At the same time the RussianAsiatic trade of the United States has steadily increased. Americans and American products are popular with the Russians and Siberians. Americans are almost invariably given the preference in trade affairs As far as I can see the Pacific coast is destined to be the biggest debeneficiary of Siberian industrial velopment.' At Joliet, Ill., the billet mill and converter of the Illinois steel works resumed operations after a three weeks shutdown. About 1000 men are affected. Monday, November 19. In court at Van Wert, Ohio, Judge Mooney refused to quash an indietment against Mrs. Van Liew, charged with throwing vitriol in the face of Miss Alice Hammel, from effects of which the giri died. Mrs. Van Liew is the wife of a prominent banker, and has been in jail since her arrest two months ago. Heavy rains have flooded the country along Salt river, Arizona, causing much Pima damage to irrigating canals. At half the town is under water. Rev. D. N. Stewart, pastor of the Baptist church at Wyoming, Pa., is under arrest on a charge of poisoning his wife of three months He also failed to account for church money. At Milwaukee, Wie., the E. P. Alis Co. owning the Reliance Iron works, anpounced a reduction in the working time of its 200 employes from ten to nine hours a day. The wages will be slightly reduced. A $5000 package of money, shipped from Sheldon to Sioux City, Iowa, disappeared. Senator Pritchard of North Carolina if the count had been fair in that ried state says the republicans would have car-

14. November 23, 1900 The Hickman Courier Hickman, KY
Article from The Hickman Courier, November 23, 1900

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PECULATED $191,500. Assistant Cashier Brown, of a Newport Bank, a Defaulter. Made Two Entries in His Books, One in Ink, Another in Crayon-Gambling and Women the Cause of His Downfall. Newport, Ky., Nov. 20.-The late assistant cashier of the German National bank, of this city, stole from the bank $191,500 in 18 months time, and is now being sought by the detectives. He left Cincinnati last week with about $500 in his pockets, and is now thought to be on the high seas bound for South America. Brown spent the bank's money on women, horses and cards, and his stealings amounted to more than the bank's capital and surplus. A United States bank examiner is in charge of the German National, and several thousand depositors are now clamoring in vain for their money. Brown was one of the bestknown men in Newport. His father is Paris C. Brown, the wealthy riverman, honorary member of change, a former director of the bank and well known in connection with many Cincinnati and Kentucky business enterprises. About 18 years ago Frank M. Brown entered the bank as a clerk. He paid attention to his work and gradually rose to be bookkeeper and later as. sistant cashier, having charge of the individual ledger. For several years his salary has been $1,500. Eight years ago, as far as known, he did his first gambling. His companions were men of the world, who knew how to spend, and he was ambitious. He east about for ways to increase his bank roll. He studied conditions carefully, and concluded to take a whirl at Latonia. A few of his friends went in with him, and they engineered a deal on Lady Cartwright, one of the speedy sprinters entered in the races. The good thing "went through" all right, and Brown cleaned up $4,000 for himself. A little later he worked Abuse, another racer, through the Oakley foreign book for between $8,000 and $9,000. The winnings were supposed to go to the agent of an eastern gambler, but in reality they went into the pockets of the Newport bank em ploye. After that he was a familiar fig. ure at the tracks, and his money "flew." No race was too poor and no odds too short for his money. From fast horses to women he found a narrow step. He did the thing up in prodigal fashion. too. At one time he had three establishments running at the same time in Cincinnati. He was a rounder, and was known in all the resorts of Cincinnati, He was a favorite with the women of the half-world. for though he only drank moderately, he spent his money freely on women. Brown will go down in history as a wonder among bank looters. His scheme worked on a hair trigger. He had an individual book on which he recorded deposits as they came in This book he posted with the general bookkeeper at the end of each day. If a person, for example, deposited $1,500 and another $2,500 at Brown's window, Brown entered the amounts correctly in ink opposite the depositor's name. Maybe be wanted. to hold out $1,000 from the first and $1,500 from the second deposit. He would mark down the remainder in crayon just above the amount as recorded in ink. Lt was the sum in peneil that he read to the general bookkeeper. But when he "read back;" that is, when he wanted to know what the real deposit was and when he had to work on that he read the record in ink. Ft. Wayne, Ind., Nov. 20.-Frank Brown, the defaulting eashier from Newport, is in Canada. This information comes from Fred J. Stone, of Cincinnati, a traveling man who is an intimate friend of Brown. Mr. Stone is at the New Avaline hotel, arriving Monday evening. A newspaper correspondent succeeded in locating Stone through the medium of a conversation he had had with guests in the hotel, in which he mentioned having known Brown intimately. Mr. Stone had retired and declined to be seen, but finaMy consented to receive Police Superintend ent Homer Gorsline, and to him stated that Brown was in Canada. He said it was true that Brown, after leaving Newport, had fled to St. Louis, and there parted with his mustache and made other changes in his personal appearance which rendered him unreconizable, even to his closest friend. He then left St. Louis, and, doubung back on his tracks, traveled through Indiana and left Winehester on the Big Four Monday

15. November 24, 1900 The Suburban Citizen Washington, DC
Article from The Suburban Citizen, November 24, 1900

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Cincinnati (Special).-United States Bank Examiner Tucker took possession of the German National Bank at Newport, Ky., and posted a notice that the bank would remain closed pending an examination. Examiner Tucker charges that Frank M. Brown, the individual bookkeeper and assistant cashier, is missing. He says that a partial investiga. tion shows a shortage of about $201,000. Brown had been with the bank 18 years and was one of the most trusted men ever connected with this old bank It is stated by the experts that the shortage extended back as far as 10 years. The capital stock of the bank is only $100,000. The alleged shortage is double that amount and more than the reserve and all the assets, including their real estate. The First National Bank of Newport was wrecked two years ago, and now, with the German National closed, Newport has only one bank left. For two weeks there have been rumors of a shortage at the German National and some depositors withdrew their accounts. Three weeks ago the bank ex. aminers made a good statement for the bank and the officers and directors al layed suspicion by referring to the re port of this examination and to their last statement. Last Wednesday Brown left and it was announced that he had gone hunting on a vacation. He did get a ticket for Odin, Ill., but it is learned now that he did not go there, and it is generally believed that he is out of this country. It is said that Brown was suspended last Tuesday pending an investigation and that experts have been at work all the past week, while the officers and directors have been making announcements that everything was all right. Last Friday the officers and directors over their own names published in the papers of this city a statement that the bank had been found to be all right and that the rumors about Brown were false. Brown is a widower, with one son aged 10 years, who lives with Brown's father, Paris C. Brown, ex-Mayor of Newport and one of the leading business men of Cincinnati. Last summer Brown visited Yellowstone Park. A Cincinnati woman, who became offended with Brown, gave the bank officials a clue that brought about a crisis. It is alleged that Brown had been leading a fast life. The officers of the German National Bank are wealthy and responsible men and they will be able to make the losses good. Among the directors is Paris C. Brown, father of the missing man, who is known from Pittsburg to New Orleans and every river wharf as the head of the stores for boat supplies. The cashier of this bank is also the paying teller, and Brown relieved him as paying teller when the cashier went to his dinner. It is stated that Brown did most of his work during the noon lunch of the cashier. Bank Examiner Tucker took possession on Sunday because of the panic in Newport that followed at once the publication here of Brown's absence. The bank examiner posted a notice that the bank will not be opened pending investigation, but It is generally believed that this proceeding will not prevent a stampede, as the excitement in Newport is intense. There are about 1500 depositors, among them being the nine building associations, which have the savings of many poor people.

16. November 27, 1900 Evening Star Washington, DC
Article from Evening Star, November 27, 1900

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Condition of the Newport Bank. O. P. Tucker, receiver of the German National Bank of Newport, Ky., today sent his report of the condition of the bank to the controller of the currency. There is at the present time cash and remaining assets on hand sufficient, to realize to the depositors something over 90 per cent of their claims. The general condition of the assets is found to be good. The amount of the lefalcation as given by the examiner agrees with his first estimate, about $191,000. Efforts are being made on the part of the stockholders and directors of the bank to restore the bank to solvency in view of the comparatively small amount necessary to be raised to make the claims of the deposit rs good. The conditions of resumption will be fixed by the controller today or tomorrow.

17. November 27, 1900 Wausau Pilot Wausau, WI
Article from Wausau Pilot, November 27, 1900

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CLOSED BY MR. DAWES. Newport, Ky., Bank in Hands of Examiner Tucker. The German National Bank of Newport, Ky., has been closed by order of the Comptroller of the Currency, and Bank Examiner Tucker placed in charge as temporary receiver. Twice the amount of its capital stock is missing from the vaults of the bank as a result of the operations of Frank M. Brown, the individual bookkeeper and assistant cashier, who is missing. Mr. Tucker made the unofficial announe ment that Brown is short about $201,000. Brown had been with the bank eighteen years, and it is stated by the experts that his operations extended back as far as ten years. For two weeks there have been rumors that Brown was short, and some depositors withdrew their accounts. Three weeks ago the bank examiners made as. good statement for the bank and the oillcers and directors allayed suspicion by referring to the report of this examination and to their last statement. The wildest scenes were witnessed in Newport when the notice was posted. The officers of the German National Bank are all wealthy and responsible men, and they will be able to make the losses good.

18. November 28, 1900 New-York Tribune New York, NY
Article from New-York Tribune, November 28, 1900

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MAY REOPEN NEWPORT. KY., BANK. Washington, Nov. 27.-C. P. Tucker. receiver of the German National Bank, of Newport. Ky., has sent his report of the condition of the bank to the Controller of the Currency. It appears that there is at the present time cash and remaining assets on hand sufficient to realize to the depositors something over 90 per cent of their claims. The general condition of the assets is found to be good. The amount of the defalcation as given by the examiner agrees with his first estimate of the same, $191,000. Efforts are being made on the part of the holders and directors of the bank to restore stockbank to solvency in view of the comparatively the of amount the necessary to be raised to make the claims small tion depositors good. The conditions of resumpwill be fixed by the Controller.

19. November 29, 1900 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, November 29, 1900

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TELEGRAPHIC BREVITIES. New York-M. Yanoni, medical inspector of Japan, visited quarantine today as. the guest of the health officer, A. H. Doty. New York-Sir Charles Drivers Wilson, English hunter, and Mgr. Nugent were passengers on the Oceanic, which sailed for Liverpool. New York-The sales of Standard Oil stocks in the open market today aggregated 157 shares, at 750, a new high record for the stock. Montpelier, Vt.-The Vermont legislature adjourned today. Among the measures passed was one prohibiting the sale of cigarettes in the state. Kingsville-No trace of the crew of the schooner at Point Pelee, supposed to be the Maumee Valley, has been found. It is now believed by marine men here that all have been lost. Paul's Valley, I. T.-James Ward today shot and fatally wounded John Fleming. The men were attending court here. They had formerly been painers and quarreled over business matters. Ogdensburg-The Canadian steamer, Persia, burned to the water's edge at Toronto and will be a total loss. The burned boat was built in 1873 and was owned by the Toronto & Montreal Steam Navigation company. She was 757 gross tons. Newport, Ky.-A meeting of depositors of the German National bank, now in the hands of a receiver, has been called for next Monday. Plans looking to the resumption of business will be discussed, and it is expected that the bank will soon resume. Toronto, Ont.-The congregation of Coke's church, a prominent Presbyterian church of this city, has invited two well known American ministers to preach on trial in the near future. They are Rev. Dr. Work, of Cincinnati, and Rev. Mr. Esler, of Philadelphia. Rev. D". Work will preach here next Sunday,

20. November 30, 1900 Hot Springs Weekly Star Hot Springs, SD
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CLOSED BY MR. DAWES. Newport, Ky., Bank in Hands of Examiner Tucker. The German National Bank of Newport, Ky., has been closed by order of the Comptroller of the Currency, and Bank Examiner Tucker placed in charge as temporary receiver. Twice the amount of its capital stock is missing from the vaults of the bank as a result of the operations of Frank M. Brown, the individual bookkeeper and assistant cashier, who is missing. Mr. Tucker made the unofficial announcement that Brown is short about $201,000. Brown had been with the bank eighteen years, and it is stated by the experts that his operations extended back as far as ten years. For two weeks there have been rumors that Brown was short, and some depositors withdrew their accounts. Three weeks ago the bank examiners made a good statement for the bank and the officers and directors allayed suspicion by referring to the report of this examination and to their last statement. The wildest scenes were witnessed in Newport when the notice was posted. The officers of the German National Bank are all wealthy and responsible men, and they will be able to make the Icsses good.

21. December 7, 1900 The True Northerner Paw Paw, MI
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Kentucky Defaulter. Newport, Ky., Dec. 5.-The United States grand jury heard testimony in the case of Frank M. Brown, late assistant cashier of the German National bank of Newport, who is charged with embezzling $191,000 of the bank's funds. Among the witnesses summoned are some known to have knowledge of Brown's losses of money at pool rooms and other places. Receiver Tucker is authority for the statement that the government will undertake to recover the money lost and spent by Brown.

22. January 4, 1901 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, January 4, 1901

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BUSINESS FAILURES. Jan. 3-Wabasha. Minn., People's bank. 6-Rahway. N. J., Union county bank.... New York, Hulbert H. Warner, patent medicine mant.: $2,319,027. Piankington. S. D., State bank. 17-Chiengo, Francis P. Owings, real estate: $5,364,977. Feb. 7-New Bedford, Mass., Henry E. Holcomb. mant: $1,361,438.... Boston, Miner, Beal & Co., clothing firm, $450,000. 26-United States milling combine (flour trust); $15,000,000. Mar. 3-Port Jarvis (N. Y.) Nat. bank resumes; had suspended payment in December. 6-J. F. Seiberling. formerly manufacturer at Akron, O., files bankruptcy petition; $800,000. assets, $30. 19-John Kehoe, builder of New York, files bankruptcy petition: $1,520,085; no assets. 22-D. Appleton & Co., New York, publishCTS: $3,000,000. 26-Rutland, Vt., Merchanis' Nat. bank.... Keene, N. H., Five Cent savings bank for $1.449,058; and Guarantee savings bank for $718,873. Apr. 3-Cambridge (Neb.) State bank; $40,000. 10-Columbus, O., Reinhard & Co.'s bank; $140,000. 12-Yates Center. Kan., Citizens' state bank. 27-Anolph Landauer, dry goods dealer of Milwaukee: $391,945.31. May 11-Frank L. Fuller's private banks at Rockford and Cedar Springs, Mich. 21-Pentwater, Mich., Neilson & Co.'s bank. 26-Price, McCormick & Co., of New York, cotton brokers and shippers; $13,000,000. 28-Seymour, Johnson & Co., stock and cotton brokers of New York; $500,000. Jun. 5-W. C. Shields' bank at Mulberry Grove, III. 15-McNair & Alexander, cattlemen at Ashland. Kan.; $542,000. Aug. 13-Henry J. Neill. the "barley king," files petition in bankruptcy; $500,000.... Kingfisher (Col.) bank: $61,000. 17-Somerset (Ky.) Nat. bank. Sep. 6-Lamont (III.) state bank; $12,000. 7-Fifth Avenue Savings & Loan Ass'n., of McKeesport, Pa.; $500,000. 18-Hatch & Foote, New York brokers: $2,000,000. 19-South Danvers Nat. bank, at Peabody, Mass. Nov. 17-German Nat. bank. at Newport, Ky. Dec. 12-Bank at Brillion, Wis. 13-Order of Chosen Friends, large fraternal insurance association.

23. January 8, 1901 The Bourbon News Paris, KY
Article from The Bourbon News, January 8, 1901

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BUSINESS FAILURES. Jan. 3--Wabasha, Minn., People's bank. 6-Rahway, N. J., Union county bank.... New York. Hulbert H. Warner, patent medicine manf.: $2,319,027. 9-Plankinton, S. D., State bank. 17-Chicago, Francis P. Owings, real estate; $5,364,977. Feb. 7-New Bedford, Mass., Henry E. Holcomb, manf.; $1,351,438 Boston, Miner, Beal & Co., clothing firm, $450,000. 26-United States milling combine (flour trust); $15,000,000. Mar. 3-Port Jervis (N. Y.) Nat. bank resumes: had suspended payment in December. 5-J. F. Seiberling, formerly manufacturer at Akron, O., files bankruptcy petition; $800,000, assets, $30. 19-John Kehoe, builder of New York, files bankruptcy petition; $1,520,085; no assets. 22-D. Appleton & Co., New York, publishers; $3,000,000. 26-Rutland, Vt., Merchants' Nat. bank.... Keene, N. H., Five Cent savings bank for $1,449,058; $718,873. and Guarantee savings bank for Apr. 000. 3-Cambridge (Neb.) State bank; $40,10-Columbus, $140,000. O., Reinhard & Co.'s bank; 12-Vates Center, Kan., Citizens' state bank. 27-Anolph® Landauer, dry goods dealer of Milwaukee; $391,945.31. May 11-Frank L. Fuller's private banks at Rockford and Cedar Springs, Mich. 21-Pentwater, Mich., Neilson & Co.'s bank. 26-Price, McCormick & Co., of New York, cotton brokers and shippers; $13,000,000. 28-Seymour, Johnson & Co., stock and cotton brokers of New York; $500,000. Jun. 5-W. C. Shields' bank at Mulberry Grove, Ill. 15-McNair & Alexander, cattlemen at Ashland, Kan.; $542,000. Aug. 13-Henry J. 0 Neill, the "barley king." files petition in bankruptcy; $500,000.... Kingfisher (Col.) bank: $61,000. 17-Somerset (Ky.) Nat. bank. Sep. 6-Lamont (Ill.) state bank: $12,000. 7-Fifth Avenue Savings & Loan Ass'n., of McKeesport, Pa.; $500,000. 18-Hatch 000,000. & Foote, New York brokers; $2,19-South Mass. Danvers Nat. bank. at Peabody, Nov. 17-German Nat. bank, at Newport, Ky. Dec. 12-Bank at Brillion, Wis. 13-Order of Chosen Friends, large fraternal insurance association. 21-American nat. bank of Balvimore, Md. 25-Isaac Robinson, at Balkimore, Md., manufacturer: $800,000.