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THEFT WRECKS A BANK Special to the Jersey City News. FORT SCOTT, Kas., Oct. 14, 1895.-The State Bank of this city suspended today because of the defalcation of Cashier Coleman, who is said to have stolen $30,000.
State Bank (Fort Scott, KS)
Episode Information
- Episode Type
- Suspension → Closure
- Start Date
- October 14, 1895
- Location
- Fort Scott, Kansas (37.840, -94.708)
- Bank Type
- trust
Metadata
Notes
Depositors gathered at closing but accounts show formal suspension and receiver appointed; no clear independent run documented.
Events (2)
1.
October 14, 1895
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Defalcation/embezzlement by cashier J. R. Colean (missing/ stolen funds revealed; theft over period; bank closed by state commissioner)
- Newspaper Excerpt
- THE STATE BANK of this city suspended today because of the defalcation of Cashier Coleman
- Source
- newspapers
2.
December 18, 1895
Receivership
- Newspaper Excerpt
- C. W. Mitchell, receiver of the defunct State bank, has commenced payment of the first dividend
- Source
- newspapers
Newspaper Articles (19)
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Bank Suspended. KANSAS CITY, Oct. 14.-The State bank at Fort Scott closed today by order of the state commissioner. The failure was caused by the cashier defaulting.
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A THIEVING CASHIER. The State Bank at Fort Scott, Kan., Forced to suspend. FORT SCOTT, Kan., Oct. 15.-This morning Vice President J. J. Stewart, of the state bank of this city, posted the following notice at the hour of opening: This bank is closed, subject to the order of the state bank commissioner. Depositors will be paid in full. The failure to open is caused by the defalcation of the cashier. J. J. STEWART, Vice President. A large crowd of excited depositors gathered around the bank doors and discussed the situation. The cashier, J. R. Colean, has had the utmost confidence of all. He had been cashier since the bank was organized in 1883. Last Wednesday he left town, saying that he was going to his old home in Jerseyville, III., where his wife is visiting. Colean confessed to D. F. Coon, president of the bank, in the West End hotel in St. Louis last Saturday night that he had lost $25,000 in speculation in stocks and bonds. An investigation showed that the theft had been systematically practiced for a period of over two years, and covered up by a manipulation of the bank books.
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A THIEVING CASHIER. The State Bank at Fort Scott, Kan., Forced to Suspend. FORT SCOTT, Kan., Oct. 15.-This morning Vice President J. J. Stewart, of the state bank of this city, posted the following notice at the hour of opening: This bank is closed, subject to the order of the state bank commissioner. Depositors will be paid in full. The failure to open is caused by the defalcation of the cashier. J. J. STEWART, Vice President. A large crowd of excited depositors gathered around the bank doors and discussed the situation. The cashier, J. R. Colean, has had the utmost confidence of all. He had been cashier since the bank was organized in 1883. Last Wednesday he left town, saying that he was going to his old home in Jerseyville, III., where his wife is visiting. Colean confessed to D. F. Coon, president of the bank, in the West End hotel in St. Louis last Saturday night that he had lost $25,000 in speculation in stocks and bonds. An investigation showed that the theft had been systematically practiced for a period of over two years, and covered up by a manipulation of the bank books.
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Si ck, but Under Guard FORT SCOTT. Kan., Oct. 17.-J. R. Colean, cashier of the wrecked state bank of this city, whose defalcations caused the bank's suspension, was arrested by Sheriff Allen onjistate warraant charging him with embezzling $9000 in cash from the reserve fund of the bank. Colean is still in a very critical condition and it was impossible to have him moved. A guard Irom the sheriff's office was left at his bedside.
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FORT SCOTT, Kan.-J. R. Colean, cashier of the wrecked state ibank of this city, whose defalcations çaused the bank's suspension, was arrested by Sheriff Allen on a state warrant charging him with embezzling $9,000 in cash from the reserve fund of the bank. Colean is still in a very critical condition and it was impossible to have him moved. A guard from the sheriff's office was left at his bedside.
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A THIEVING CASHIER. The State Bank at Fort Scott, Kan., Forced to Suspend. FORT SCOTT, Kan., Oct. 15.-This morning Vice President J. J. Stewart, of the state bank of this city, posted the following notice at the hour of opening: This bank is closed, subject to the order of the state bank commissioner. Depositors will be paid in full. The failure to open is caused by the defalcation of the cashier. J. J. STEWART, Vice President. A large crowd of excited depositors gathered around the bank doors and discussed the situation. The cashier, J. R. Colean, has had the utmost confidence of all. He had been cashier since the bank was organized in 1883. Last Wednesday he left town, saying that he was going to his old home in Jerseyville, Ill., where his wife is visiting. Colean confessed to D. F. Coon, president of the bank, in the West End hotel in St. Louis last Saturday night that he had lost $25,000 in speculation in stocks and bonds. An investigation showed that the theft had been systematically practiced for a period of over two years, and covered up by a manipulation of the bank books.
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Bank Failure. The State bank at Fort Scott closed its doors on the morning of the 14th. A note from the vice president stated that depositors would be paid in full, but the bank was forced to suspend through the defalcation of the cashier. Cashier Colean, left town a few days previous to the discovery of his shortage. He left a note confessing that ne had lost $25,000 of the bank's funds in speculation.
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Fort Scott Bank Paying. FORT ScoTT, Dec. 18.-C. W. Mitchell, receiver of the defunct State bank. has commenced payment of the first dividend and all depositors who call receive 25 per cent of their deposit.
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Colean's Attorney Fees. FORT SCOTT, Dec. 23,-Judge Biddle has filed a motion asking the conrt to require Receiver Mitchell of the State bank, to pay to L. C. Boyle $2,150 which J. R. Colean, the defaulting cashier assigned to him as attorney's fees. Colean claimed to have that amount in the possession of D. F. Coon.
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JUDGE BIDDLE OF FORT SCOTT Judge Biddle of Fort Scott has filed a motion asking the court to require Receiver Mitchell of the State bank, to pay to L. C. Boyle $2,150 which J. R. Colean, the defaulting cashier assigned to him as attorney's fees. Colean claimed to have that amount in the possession of D. F. Coon. A young Oklahoma couple, who had just been married and were on their way north, applied at the police station at Lawrence, for a place to sleep, saying that their money had given out and they wanted some place to stay, and were given it. They were in the best of spirits, and the young man was hopefully looking forward to next spring, when he could get a claim somewhere and begin farming. His bride was in a very happy mood, and entertained the prisoners at the station by singing them a number of songs. They left Tuesday morning for Nebraska. Fred Walters, a stranger, went crazy on the street at Atchison Monday. His hallucination is that he brought a bottle of whisky over from East Atchison and offered an Atchison man a drink and that since then everybody in Atchison has been after him in a threatening manner. The steamer Helen, laden with 170,000 bushels of Kansas corn, sailed from Galveston for Belfast last week. That probably is about all the corn that has been shipped out of Kansas since the new crop. The idea seems to be finally fixed that corn is a good thing to
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DEMAND CASH. / Depositors of Defunct Bank at Fort Scott Are Tired Out. Fort Scott, July 25.-The depositors of the State bank of this place, which was compelled by the theft of $50,000 by Cashier Colean to suspend, had a mass meeting and demanded that the court require the receivers to sell all securities and realty at auction and that he proceed against the stockholders under the double liability law to compel them to pay the depositors in full by September 15.
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Bank Stockholders Must Pay. Receiver Mitchell, of the State bank at Fort Scott, which was wrecked two years ago by a steal of $52,000 by Cashier Colean, has called upon the solvent stockholders to make up $19,000 to pay the balance due depositors and other creditors.
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# Big Fees Allowed. Fort Scott, Feb. 9.-Although the State bank here closed its doors over three years ago, owing over $100,000, there promises to be much more litigation before the business of the institution is finally closed up. In the district court Judge Simon allowed the claim of Receiver C. W. Mitchell for $3,300 and that of Perry & Crain, his attorneys, for $1,500, in spite of the protests of the stockholders, who claimed the amounts asked where exorbitant.
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Holds President Responsible. Fort Scott, Kan., Feb. 13.-D. F Coon. who was president of the State bank here when it was wrecked by the $50,000 defalcation of its cashier, J. R. Colean, has been sued by C. W. Mitchell, the receiver, for $110,000. He holds Coon blamable for the bad condition of the bank's affairs.
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# Holds the President Responsible. D. F. Coon, who was president of the State bank at Fort Scott when it was wrecked by the $50,000 defalca-tion of its cashier, J. R. Colean, has been sued by the receiver for $110,000. He holds Coon blamable for the bad condition of the bank's affairs.
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# Holds the President Responsible. D. F. Coon, who was president of the State bank at Fort Scott when it was wrecked by the $50,000 defalcation of its cashier, J. R. Colean, has been sued by the receiver for $110,000. He holds Coon blamable for the bad condition of the bank's affairs.
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Article Text
Holds the President Responsible. D. F. Coon, who was president of the State bank at Fort Scott when it was wrecked by the $50,000 defalcation of its cashier, J. R. Colean, has been sued by the receiver for $110, 000. He holds Coon blamable for the bad condition of the bank's affairs.
Click image to open full size in new tab
Article Text
Holds the President Responsible. D. F. Coon, who was president of the State bank at Fort Scott when it was wrecked by the $50,000 defalcation of its cashier, J. R. Colean, has been sued by the receiver for $110, 000. He holds Coon blamable for the bad condition of the bank's affairs.