Article Text
CASS COUNTY BANK. Atlantic, Iowa, December 28.-Theodore G. Steinke this morning was appointed receiver of the Cass County bank. The assets are $260,000 and l'abilities about $200,000.
Cass County Bank (Atlantic, IA)
Episode Information
- Episode UID
6959957191123- Episode Type
- Run → Suspension → Closure
- Bank Type
- trust
- Bank ID
-
695995719hash - Start Date
- July 1, 1893*
- Location
- Atlantic, Iowa (41.404, -95.014)
Metadata
- Model
- gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
d9e0e80b295c3830
Response Measures
None
Description
The bank experienced a run in July 1893 but remained open until December 1893 when it finally suspended and entered receivership due to insolvency and fraud.
Events (4)
1.
July 1, 1893*
Run
- Cause Details
- General nervousness; specific trigger not mentioned for the July run.
- Measures
- Friends of the officers went among the farmers to restore confidence.
- Newspaper Excerpt
- Along in July there was a run on the but the friends of the officers went among the farmers and restored confidence.
- Source
- newspapers
2.
December 27, 1893
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Insolvency and fraudulent banking by officers, including President Yetzer and Cashier Dickerson.
- Newspaper Excerpt
- the failure of the Cass county bank on Dec. 27.
- Source
- newspapers
3.
December 28, 1893
Receivership
- Newspaper Excerpt
- Theodore G. Steinke this morning was appointed receiver of the Cass County bank.
- Source
- newspapers
4.
February 12, 1894
Other
- Newspaper Excerpt
- J. C. Yetzer, president of the defunct Cass county bank, was brought here this afternoon, under arrest.
- Source
- newspapers
Newspaper Articles (16)
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Atlantic, Iowa, Bank Fails. Atlantic, Iowa, Dec. 30.-Theodore G. Steinke was yesterday appointed receiver of the Cass County bank. The assets are $260,000, liabilities $200,000. The depositors will probably be paid in full.
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Receiver For an Iowa Bank. ATLANTIC, Ia., Dec. 30.-Theo G. Steinke has been appointed receiver of the Cass County bank. The assets are $260,000; liabilities, $200,000. The depositors will probably be paid in full.
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Atlantic, lown, Bank Fails. Atlantic, Iowa, Dec. 30.-Theodore G. Steinke was yesterday appointed receiver of the Cass County bank. The assets are $200,000, liabilities $200,000. The de positors will probably be paid in full.
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Depositors Will be Paid in Full. ATLANTIC, Ia., Dec. 28.-T. G. Steinke this morning was appointed receiver of the Cass County Bank. The assets are $260,000 and the liabilities $20,000. The depositors will probably be paid in full.
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IOWA BANK GOES UNDER. Atlantic, Ia., Dec. 28.-T. G. Steinke was this morning appointed receiver of the Cass County bank. Its assets are $260,000; liabilities $200,000. Depositors probably will be paid in full.
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IRATE BANK DEPOSITORS. ATLANTIC, Ia., Feb. 12.-J. C. Yetzer, president of the defunct Cass county bank, was brought here this afternoon, under arrest. He was found at Council Bluffs yesterday, where be had been living at the residence of Dan Carrigg. He was taken before Justice Straight, waived examination, and was bound over, to await the action of the grand jury, in the sum of $5,000. Yetzer said that the report that be was trying to leave the country was false. He claimed to have turned over for the benefit of the creditors of the bank $8,000 worth of real estate and other property. He is inclined to think that he is being persecuted, and says that he has had no active part in the management of the bank for seven years, leaving it all to Cashier Dickerson. The return of Yetzer has only added to the intense but suppressed excitement under which the people of this city and most of the inhabitants of Cass county have been laboring since the failure of the Cass county bank on Dec. 27. District court and the grand jury will be in session this week. The receiver of the bank, Theodore Steinke, is also expected to make his report of the condition of the bank. There have been threats of summary punishment being administered to the officers of the ill-fated institution. As usual in such cases there has been much talk, many idle rumors, and little action. Now that the real facts will be ascertained through the aid of the grand jury much trepidation is felt by timid people, as they do not think that any of the bank officials will then be safe.
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ROUBLE BREWING IN IOWA armers Who Lost Their Money Are Angry at the Men Responsible. ANKERS MAY FALL INTO ROUGH HANDS resident Yetzer of the Broken Atlantic Institution Arrested and Taken Back to Cass County and Threats of Lynching Are Made. ATLANTIC, Ia., Feb. 12.-(Special to The ee.)-J. C. Yetzer, president of the defunct County bank, was brought here this ternoon from Council Bluffs, where he was rested Sunday, in custody of Constable SeaHe was at once taken before Justice traight. He waived examination and was over to await the action of the grand in the sum of $5,000. District court the grand jury will be in session this eek. The receiver of the bank, Theodore Steinke, is also expected to make his of the condition of the bank. Yetzer that the report that he was trying to the country was false. He claimed have turned over for the benefit of the reditors of the bank $8,000 worth of real and other property. He is inclined think he is being persecuted and says he had no active part in the management the bank for seven years, leaving it all Cashier Dickerson. Owing to an irregularity in drawing the jury which is to investigate the filure, the county attorney interposed challenges in behalf of the state and new jury had to be Impanelled. President and Cashier Dickerson appeared in accompanied by their attorneys and presence created somewhat of a sensaThe foreman of the new jury is D. Miller and that body is mainly made up determined farmers who will go to the of the failure. FARMERS GATHERING. Early this morning farmers began arrivhere from all parts of Cass county, atacted by the fact that the grand jury was convene this afternoon and Judge Deemer begin the regular term of the district Since the failure of the Cass County bank farmers and depositors have relied on receiver to protect their interests as far possible and save them what money be The receiver and an expert have been work on the books since December 28, and morning Mr. Steinke said he would make his report this week, probably in a or two. As the farmers began arriving were met by some of the city depositors they elected one of their number chairman. A short meeting was held and twenty-five of the men went to the and demanded an audience with ReSteinke. They said that they not urged but demanded, in behalf of law, and justice, that he make an immereport of the condition of affairs. They heard that the receiver and others were a conspiracy to delay the administraof justice, and SO intimated. When impugned Mr. Steinke's honesty of purhe was very indignant and told the mmittee that if it did like his way of doing isiness it could go to-well, a place where storms never coine. The committee plained that It did not believe that the rewould be a party to any dishonest heme and the matter was amicably settled. delegation also waited on Judge Deemer requested him to carefully instruct the and jury as to its duties in investigating fraudulent methods of this banking initution. That they mean to see that the is rigidly enforced there can be no and the farmers do not seem inclined make any concessions in favor of the cused. The more the matter is developed the it looks. The facts which are coming light indicate a most deplorable state of fairs. Along in July there was a run on the but the friends of the officers went among the farmers and restored confiBut since that time the bank is to have been in a dangerous condition it is asserted that the officers knew three weeks before they were comto close the doors. A Bee reporter told by the county clerk today that he deposited $200 in the bank on the day it failed. This money was received
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Cass Bank Trouble. ATLANTIC, 10., Feb. 15.-Excitement here in connection with the Cass County bank investigation has calmed down to some extent. It is now thought there will be no serious trouble. Receiver Steinke said today he could not submit his report to the oourt before Sunday. Judge Deemer today excused the petit jury, pending a report from the grand jurv.
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EVAPORATED ASSETS. ATLANTIC, Ia., Feb. 21. - Receiver Steinke made public today his report in the matter of the Cass County bank. It shows liabilities of $513,293.23, with available assets of $175,548.09, a shrinkage of $397,745.14. Of deposits of $418,138.21 there is but $770.85 cash on hand. Presiident Yetzer is dangerously ill. He owes the bank over $106,000. The grand jury's report is expected tomorrow. It is certain that all the officers of the bank will be indicted.
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Quieting Down. Atlantic, Ia., Feb. 16.-Excitement here in connection with the Cass County bank investigation has calmed down to some extent. It is now thought there will be no serious trouble. Receiver Steinke said to-day he could not submit his report to court before Sunday.
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Cass County Bank. ATLANTIC, Io., Feb. 21.-Receiver Steinke made public today his report in the matter of the Cass county bank. It shows liabilities of $513,293.23, with available assets of $175,548.09, a shrinkage of $397,745.14. Of deposits of $418,138.21, there is but $770.85 cash on hand. President Yetzer is dangerously ill. He oves the bank over $106,000. The grand jury report is expected tomorrow. It is certain all he officers of the bank will be indicted.
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Joseph S. Hardin, the escaped train robber, was recaptured near Menard, III. The Bengal chamber of commerce voted against reopening the mints of India. Prof. E. J. Phelps, ex-minister to England, is ill with some serious symptoms. At Quincy, III., fire in the Reliable incubator company's work caused a loss of $198,000. Fire is burning in the Springfield Junction (III.) coal shaft. No lives are endangered. Richard Croker and family of New York left Nashville for Texas and the Pacific coast. The Grand Army of the Republic, department of Nebraska, elected Church Howe commander. Eight of the crew of the British bark Montgomery Castle were drowned in a storm off the Azores. The grand jury returned indictments against officials of the broken Cass county bank at Atlantic, Ia. Near Huntington, W. Va., in a dispute between George and Cy Adkins, cousins, the former was fatally shot. The First presbyterian church of Evanston. III.. was destroyed by fire. Loss, about $35,000; insurance, $20,700. A. S. Jones, station agent of the Missouri Pacific at Walton. Neb., shot and killed Jerry Peck, a constable. President Frye of the railroad miners says that there will be a general strike among all miners about April 15. A. M. Beattie, the Hawaiian consul at Vancouver. appointed by President Dole, has at last received his exequatur. The rescuers in the Gaylord shaft are now working under great difficulties, another cave-in being threatened. The police of Lyons have arrested three more anarchists and the work of searching residences will be continued. At Kimmswick, a suburb of St. Louis. Thomas Lazater was found with a small hole in his head. apparently murdered. The dynamite factory of James S. Miller. near Boyerton, Pa., was blown up. A man named Fritz was blown to pieces. At Louisville Jacob J. Nave, a West End tough. was shot and mortally wounded by John Lemon in his saloon. D. R. Reagan, dry goods. with branch houses at Refugio and Edna, Tex., assigend. Liabilities, $50,000; assets, $70,000. At San Francisco Dr. Eugene F. West got twenty-five years in prison for killing Addie Gilmore by a criminal operation. The Chicago fire underwriters' association decided upon a sweeping advance of 25 per cent. in rates on mercantile risks. Twelve foundry firms of Cleveland have decided to withdraw the proposed 10 per cent. reduction in their employes wages. Charges of brutality against Superintendent Stephen B. Clark of the Oho institute for the deaf and dumb were not sustained. The Missouri penitentiary has 1,920 convicts of whom 900 are unemployed. It is a matter of serious concern to the state. At Montgomery, Ala., the Montgomery mill and lumber company has gone into a receiver's hands. Liabilities, $50,000; assets not given. The stockholders of the Chicago Edison company met in special session and voted to increase their capital stock from $3,000,000 to $5,000,000. The Dawes commission, in compliance with the desire of the Choctaws and Chickasaws, made them a definite proposition for a change of government. The Paris police raided the lodgings of a number of anarchists. two of whom were arrested. A quantity of chlorate powder and documents were seized. The big dog show of the Westminster kennel club closed at Madison Square garden and the management declares that it was the most successful yet held. The home of William Smith, near Hudson, Mich., was destroyed by fire. Mrs. Smith. crazed with excitement, rushed into the flames and was burned to death. Five men were killed and several oth. ers injured by the explosion of a boiler in the oil mill of Messrs. Freeman and Haynes at Compte, Ia. All but one were negroes. At Campbellsburg, Ky., J. C. Carroll shot and fatally wounded O. H. Buster. The shooting occurred in Carroll's store on Main-st. and was the result of an old quarrel. William Garrett and Lilly Hamilton, charged with robbing John McCaffery, a wealthy Pittsburg iron manufacturer. at Chicago during the world's fair, were discharged. The iron molders of Pittsburg have suffered a very material reduction in wages during the past four months. Their salaries have been reduced from $2.75 to $2.25. The miners at the Wheeling Creek mines of the Pittsburg-Wheeling coal company, on the line of the Cleveland, Loraine & Wheeling railroad, decided to go on a strike. The four New York witnesses in the late trial of Dr. Howard at Jackson, Tenn., who pleaded guilty to the charge of perjury, were each fined $100 and sentenced to three years' imprisonment. Thirty-two persons interested in food and dairy products organized a state association at Columbus, O., to force manufacturers to sell oleomargarine on its merits and not under the guise of genuine butter. Harry Hall, a section hand on the Southern Kansas railroad, dangerously wounded a Mrs. Leeds, a widow. whom he loved, and then committed suicide by sending a bullet through his brain at Princeton, Kas. Emperor William arrived at Bremen and visited the celebrated Rathskeller, whose cellars contain some of the oldest wines in the world. The oldest of its casks of wine are known as the "Rose" casks and date from 1653. A party of hunters have slaughtered an entire herd of buffalo in Yellowstone park. The animals were chased into deep snow and shot down. The object was to secure the heads, which command a high price. The governments of England, France, Italy and Austria have replied to the note addressed to them by the sultan of Morocco. They all advise him to accept the demands of Spain for the settlement of the Mellila troubles. I Cure Dyspepsia, Constipation and Chronic Nervous diseases. Dr.
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Unfortunate Events. Edward Kanass was accidentally shot and killed near Cedar Rapids, Iowa. Bales of burning hay fell on several men at Pittsburg. James Harrison was fatally injured. Conrad Angel, farmer, near Tudmor, Ohio, shot his brother-in-law, John Fisher, mistaking him for a marauding tramp. Edward Winsor, 11 years old, was run over by a wagon driven by Fire Chief Shepp, at Munice, Ind, and killed. The power house of the Willamette Milling company plant at Portland, Ore., was destroyed by fire. Loss, $150,000. A man named Larson was severely hurt, one of his horses killed and his wagon demolished by a train on the Burlington near Dows, Iowa. Ed Gosserman's infant, 9 months old, crawled across the kitchen floor and plunged into a tub of water at Portland, Ind. It drowned before the accident was noticed. Ed Mansfield, while out hunting with Henry Gregory at Rockford, Ill., accidentally shot the latter through the head, killing him instantly. Both are prominent young men and members of the Rockford Rifles. Mrs. James Donnelly of Evergreen, Ohio, died to-day, and her three sisters and father, Joseph Doolittle, are not expected to live, from the effects of drinking poisoned rainwater. The roof of the house had been painted with white lead. A firebrand falling from the flies at the feet of Julia Mackay, who plays the part of "Superba" in Hanlon Bros.' pantomime at the Grand Opera house during the matinee at Pittsburg, Pa., caused a panic. The house was crowded with women and children, whose screams as they rushed to the doors added to the horror of the situation. # Criminal Doings. It is charged that the park board of Toledo, Ohio, "held out" $40,000 in a deal for park lands. Michael Santucissa, a Philadelphia restaurant proprietor, was poisoned and robbed of $1,000 by two boarders. Joseph C. Yetzer, president of the failed Cass County bank of Atlantic, Iowa, was convicted of fraudu'ent banking. Silon Lewis, the condemned Choctaw murderer, was shot at Wilburton. He had to be strangled to end his sufferings. Actuated by jealousy, Humphrey Johnson of Collingwood, Ohio, shot his wife through the head and then killed himself. Joseph Cunningham, sexton of St.Peter's Episcopal church, St. Louis, Mo., died from poisoning. His discharged predecessor, Cunningham, is in custody. It is reported that the body of a man was found hanging to a tree near Roscoe, St. Clair county, Mo., some distance from the railroad. It is sup-
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# Unfortunate Events. Edward Kanass was accidentally shot and killed near Cedar Rapids, Iowa. Bales of burning hay fell on several men at Pittsburg. James Harrison was fatally injured. Conrad Angel, farmer, near Tudmor, Ohio, shot his brother-in-law, John Fisher, mistaking him for a marauding tramp. Edward Winsor, 11 years old, was run over by a wagon driven by Fire Chief Shepp, at Munice, Ind., and killed. The power house of the Willamette Milling company plant at Portland, Ore., was destroyed by fire. Loss, $150,000. A man named Larson was severely hurt, one of his horses killed and his wagon demolished by a train on the Burlington near Dows, Iowa. Ed Gosserman's infant, 9 months old, crawled across the kitchen floor and plunged into a tub of water at Portland, Ind. It drowned before the accident was noticed. Ed Mansfield, while out hunting with Henry Gregory at Rockford, Ill., accidentally shot the latter through the head, killing him instantly. Both are prominent young men and members of the Rockford Rifles. Mrs. James Donnelly of Evergreen, Ohio, died to-day, and her three sisters and father, Joseph Doolittle, are not expected to live, from the effects of drinking poisoned rainwater. The roof of the house had been painted with white lead. A firebrand falling from the flies at the feet of Julia Mackay, who plays the part of "Superba" in Hanlon Bros.' pantomime at the Grand Opera house during the matinee at Pittsburg, Pa., caused a panic. The house was crowded with women and children, whose screams as they rushed to the doors added to the horror of the situation. # Criminal Doings. It is charged that the park board of Toledo, Ohio, "held out" $40,000 in a deal for park lands. Michael Santucissa, a Philadelphia restaurant proprietor, was poisoned and robbed of $1,000 by two boarders. Joseph C. Yetzer, president of the failed Cass County bank of Atlantic, Iowa, was convicted of fraudu'ent banking. Silon Lewis, the condemned Choctaw murderer, was shot at Wilburton. He had to be strangled to end his sufferings. Actuated by jealousy, Humphrey Johnson of Collingwood, Ohio, shot his wife through the head and then killed himself. Joseph Cunningham, sexton of St. Peter's Episcopal church, St. Louis, Mo., died from poisoning. His discharged predecessor, Cunningham, is in custody. It is reported that the body of a man was found hanging to a tree near Roscoe, St. Clair county, Mo., some distance from the railroad. It is sup-
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# ISAAC DICKERSON IS FREE Last of Several Indictments Against Him is Dismissed. # COUNTY ATTORNEY REVIEWS THE CASE Dickerson Was Once Acquitted for Fraudulent Banking and in a Sec- ond Trial on Another Charge the Jury Disagreed. On motion of C. A. Meredith, county at- torney of Cass county, the remaining indict- ment against Isaac Dickerson in connection with the failure and suspension of the Cass county bank of Atlantic was dismissed yesterday by Judge Walter I. Smith of the district court. The decision of the Cass county authorities not to further prosecute Dickerson, who has already stood two trials, will, it is believed, meet with general ap- proval. In his motion for a dismissal of the re- maining indictment, the others having been dismissed at a former term of court, the county attorney reviews the history of the case and gives his reasons why, in his opin- ion, the case should be dropped. In June, 1895, Dickerson was placed on trial in the district court of Mills county on the charge of having received deposits in the Cass county bank after he knew the same was insolvent, and at the termination of the trial, lasting some three weeks, at an expense to Cass county of about $4,000, he was acquitted. At the January term of the district court of Pottawattamie county Dickerson was again placed on trial on the same charge, based on a separate transaction from that set forth in the indictment on which he had been tried in Mills county. This second trial consumed about three weeks, at an expense of another $4,000, and resulted in the disagreement of the jury. Second Case. At the second trial it was strongly urged and insisted upon on the part of the defend- ant that he could be guilty of but one crime of receiving deposits; that he had been charged with said crime in Mills county and acquitted; that such an acquittal was an adjudication in his favor, and that he could not again be placed in jeopardy for the al- leged crime. County Attorney Meredith admits in his motion that in fact there appears to be a wide diversity of opinion among the bench and bar as to whether a defendant can legally be placed on trial for the offense of receiv- ing deposits in a bank when he knew the same to be insolvent after he had once been tried and acquitted on a like charge grow- ing out of his connection with the same bank the charges being based upon sep- arate and distinct receipts of money. In none of the transactions, in which Dickerson is charged with receiving deposits after he was aware the bank was insolvent, was it claimed by the state that he was per- sonally present and saw the deposit re- ceived, but all of the charges are based on the fact that as vice president and director he permitted its doors to remain open with the knowledge of its insolvent condition, although it was his duty to know the bank's condition at all times; yet the evidence on the two former trials revealed the fact that for more than two years prior to the failure Dickerson had grossly neglected his duties, and had apparently ignored the responsi- bility, and has claimed throughout all pro- ceedings that he supposed it to be solvent until the evening of his filing a petition for the appointment of a receiver. In further support of the motion, County Attorney Meredith argued that regardless of the fact that Dickerson had shirked and ig- nored his responsibility as an officer of the bank, the law makes it incumbent on the prosecution to show that he actually did know of its insolvent condition for a suffi- cient length of time prior to the receipt of the respective deposits on which the charges are based, to have taken steps to close the bank or forbid the receipt of deposits. And, in view of the fact that for several months prior to the failure of the bank Dickerson had spent a large portion of his time in Missouri, it was a laborious task on the part of the prosecution in the two former trials to show that he was at home and at the bank a sufficient amount of time to con- nect him with any actual knowledge of the real condition of the institution. The failure of the Cass County bank cre- ated great excitement at the time and the feeling against the Dickerson family was most bitter. In fact it ran so high that it was acknowledged that the officers of the wrecked institution could not have had a fair and impartial trial in their own county. The first trial of Dickerson was had in Mills county, but the Cass county authorities on the second trial took a change of venue to Pottawattamie county. Dickerson's son, who was cashier of the bank, was convicted of fraudulent banking and served a sen- tence in the penitentiary. Domestic soap is full weight.