Fidelity Trust Company (St Joseph, MO)

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BANK AT NINTH AND FRANCIS POSTS NOTICE ON DOORS.

President Says Action Was Forced but Insists That Finances by Are In Good Connected With Bartlett. the Fidelity Trust Company, the closing the Bartlett the Fidelity to close shortly after o'clock this short after the curtains had this sign posted on the company closed by board of directors. Department of finance

"Everything All Right. "Everything is all right." Stewthe Fidelity were Mr. Stewart said prepare the day. The capitalized for which, Mr. against loss. The Fidelity Trust Company the Bartlett Trust Company.

Officers of Bank:

The of to the last : follows: Hillyard, Power, Ident: and Grable, Mr. Hillyard, the only who could hour stated that officer the this time, having signeed six The for The McNally Bank Directory the the cash the and the total deposits at $693.00.

CITY'S DEPOSITS

Was Fidelity Trust Company, Money Closed. The city had money on deposit but $92,000 the Fidelity Trust had city is secured personal amply city the second time that the city money bank within the deposits Security South Park when closed Its doors. The these posits last The protected personal bond

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FRIENDS

IDEA OF THEIR "FAN" FRIENDS WILL NOT DOWN.

Will Endeavor to Get Congress to vestigate Organized Baseball. The Result of the Move Will Be WatchBy Nation's Fans.

(International Wire News) Cleveland, Dec. Speaker and Ty Cobb probably will to the courts in an effort to seek redress from Landis and the American according to Boyd, attorney, arrived from ington this morning. Tris will not to federal aid even if possible, Boyd explained. advise him when to file don't represent Cobb, but understand they will act unison.

St. Joseph, Dec. large banks closed today only hours apart. Hardly had the directors of the Bartlett Trust Company, one the city's oldest banking institutions, ordered the doors closed cause of threatened heavy than run, the directors of the Fidelity Trust Company ordered that bank closed also. Whether the closings had any bearing each other not known. The affairs were turned to the state finance commissioner.

Gallatin. Dec. funeral service for Alexander former governor of Missouri, will be o'clock tomorrow morning the Methodist Episcopal Church south here. Mr. Dockery was member of that church. The services will be charge of the Mason grand lodge of St. Louis.

Austin, Texas, Dec. 959 pardons, paroles and other executive elemency record since the beginning of her administration, Governor Miriam Ferguson began refusing pardon seekers today.

Ventura, Cal., Dec. was the toll today of the biast the gasoline absorption plant of the General Petroleum Company here terday afternoon. Nearly score under treatment for burns.

London, Dec. George Fresident Coolidge will inaugurate the telephone service some time January, talking between Buckingham Palace and Washington, the Daily Express today.

Paso, Dec. passed comfortable seriously with pneumonia in the lung.

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PSYCHOLOGY OF FEAR IS DEMONSTRATED IN ST. LOUIS

By the Associated Press. St. Joseph. Mo., Dec. psychology of fear was demonstrated here yesterday afternoon when a run on one bank caused a run on another. and both institutions closed. The Bartlett Trust company. one of the strongest banks in St. Joseph for years. closed its doors The day since last Thursday. before the institution closed more than $60.000 was withdrawn. and crowds stormed the bank The Fidelity Trust company. having no connection with the Bartlett. of the Bartlett. within a block after the Bartlett closed the Fidelity charge.

The Bartlett closed only after ineffectual pleas were made to the Joseph Clearing House association for assistance. Finally an appeal was made to Milton Tootle. Jr., president of the Tootle-Lacy National bank and one of the leading financiers of northwest Missouri. R. E. Shelby. of Stanberry. Mo., a state banking examiner. arrived this morning and took charge of the Bartlett Trust company, and Truman Richards, of Lamar. Mo., another examiner. arrived at the same time and sasumed charge of the Fidelity Trust company. Mr. Shelby said no statement on the condition of the Bartlett company would be made for two weeks, by which time the inventory will be completed. and that the trust company would be re-opened with the state in charge, however.

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2 BANKS CLOSE IN ST. JOSEPH

Bartlett and Fidelity Trust Companies S p e d Few Hours Apart.

ST. JOSEPH Dec. 28-Two large St. Joseph banking closed their doors today only a few hours apart. The Bartlett Trust company was closed by its board of directors after withdrawals threatened to become a heavy run. Hardly had sign been placed in the saying the bank's affairs had turned over to the state finance commissioner, when the Fidelity Trust company also was closed. likewise closed its doors at the order of its of the closings had any connot known. The Trust company was capitalized at and had deposits Although capitalized at only the Bartlett Trust company surplus of according to bank statements. It was organ. about seven years ago by D. Bartlett, since has served as its president Morton is president and secretary, and L. A. The has $2,000,000 in deposits. According reports in financial in St. Joseph the deposits totaled $1,000,000 more than that a This loss of business and the subsequent closing of the are the of family differences among the heirs of Joseph, a wealthy pioneer St. Joseph family Leaders In financial circles here are confident the Bartlett bank will be the family difficulties be ironed out They declare bank is and would have except for the family differences. From reliable source It was learned the clearing house had attempted to lend hand in out the differences. It is understood the public announcement made yesterday that two members of the family faction opposed to the bank control had been elected to the board of directors, grew out of emanating from the clearing house Apparently this peace move failed of its purpose.

TURPENTINE AND ROSIN. NEW York Savannah New York

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TRUST COMPANIES FORCED CLOSE AFTER HEAVY RUNS

ST. JOSEPH. Mo., Dec. 28. directors the Bartlett Trust Company the Fidelity Trust today placed institutions hands departafter experiencing runs. The The Bartlett Trust Company had resources the Fidelity The former the seclargest Missouri to close year. total of

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SOCIAL SCIENCE WORK PLANNED

Cost Of New Encyclopedia Is Estimated Around $650,000

ROCHESTER Dec. Plans for preparation American Social of zations cost of were by the council Historical Associa tion which opened Its 41st annual convention moth of American will occupy the result some of the Edwin professor has been as The work. said. will include aciences either character which connotations. the American Economic tion, American Historical AssociaPolitical Science Sociological Society, American Statistical AssoSociety Association Social Workers.

TWO BANKS CLOSE ST. Mo., Dec. them oldest Joseph, were closed day. The Bartlett Trust company closed its doors order board of commissioner asked FidelTrust company closed this The banks are not connected.

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FEAR CLOSES BANK.

One Institution Falls, Run Made Another.

St. Joseph, Mo., Dec. The here yesterday afternoon when run one bank caused run another, and both institutions closed. The Bartlett Trust Company, the strongest banks years, closed its doors after run lasting since last Thursday. The day beinstitution closed more than withdrawn, and stormed the bank. The Fidelity Trust having connection with the block the Bartlett, and hundreds deposits larger trust company yesterday moring, quick began Fidelity Just hours after the Bartlett closed the Fidelity up sign had asked the state missioner of finance to charge.

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COUPLE OF

Ineffectual Plans To ert Closing Made By Bartlett Company.

The Associated Press ST. JOSEPH, Mo., Dec. psychology of fear here yesterday when one bank caused run on another, and The Bartlett Trust Company, the strongest banks in Joseph for years, closed its doors o'clock, after lasting since day before the institution closed more than 000 withdrawn, and crowds stormed the bank. The Fidelity Trust Company, ing no the Bartlett, within block the Bartlett, when hundreds withdrew posits the larger trust company yesterday morning, quick on Fidelity Just hours the Bartlett closed the Fidelity put sign that had asked the of finance charge. The Bartlett closed only after pleas made to the Joseph Clearing House tion assistance. Finally appeal made Milton president the National Bank, and the leading financiers Northwest Missouri. Mr. Tootle suggested that members the Barlett family buy all estate holdings of the trust pany. This with an Bartletts that depositors could they would, his opinion, the stitution. This suggestion was followed. Shelby, of Stanberry, state bank arrived morning the Bartlett Trust Company, Richards, Lamar, other examiner, the charge Fidelity Trust Mr. Shelby statement condition the Bartlett pany would made for which the inventory will completed, and trust company be re-opened, with the state Cantley Missouri State will Joseph affairs will confer Examiners Shelby and Truman Richards officials desirious learning chances they given for which time the may banks proceed

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Fear Caused Run On Second Bank

St. Joseph, Mo., Dec. psychology of fear was demonstruted here yesterday afternoon when run one bank entised run another and both Instituclosed. The BartJeit Trust company, one of the strongest banks SL Joseph for years, closed Its doors at lasting since lust Thursday. The day before the closed more than $60,000 withdrawn crowds stormed bank. The Fidelity Trust company, havIng no with Bartlett is within block the Barilett. and when hundreds withdrew deposits the larger company, yes. terday morning, quick run began un the Phielity. Just two hours after the Bartlett closed. the Fidel. Ity put up sign that had asked the state commissioner of finance to take charge.

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TWO BANKS CLOSED FOLLOWING 'RUNS'

St. Joseph, Mo., Die. The psychology of fear was demonstrated here yesterday afternoon when a run on one bank caused run. on another, and both institutions The Bartlett Trust Company, one of the strongest banks in St. Joseph for years, closed its doors at 12:15 o'clock, after a run lasting since last Thursday. The day before the institution closed, more than $60,000 was withdrawn, and crowds stormed the bank. The Fidelity Trust Company, having no connection with the Bartlett. is within a block of the Bartlett and when hundreds withdrew deposits, at the larger trust company yesterday morning, a quick run began on the Fidelity. Just two hours after the Bartlett closed the Fidelity put up a sign that it had asked the state commissioner of finance to take charge. The Bartlett closed only after in effectual pleas were made to the St. Joseph Clearing House Association for assistance. Finally an appeal was made to Milton Tootle, Jr., president of the Tootle-Lacy National Bank, and one of the leading financiers of Northwest Missouri. Mr. Tootle suggested that members of the Eartlett family buy all real estate holdings of the trust company. This act, with an assurance by the Bartletts that all depositors could get any cash they wanted, would, in his opinion, save the institution. This suggestion was not followed.

St. Joseph, Mo., Dec. 29.-(AP)S. L. Cantley, Missouri commissioner of finance, will be in St. Joseph tomorrow to look into the affairs of the two trust companies. He will confer with Examiners Shelby and Richards, and with officials of the two institutions, who are desirous of learning what chances they have of reorganizing. Ten days are given for reorganization at the end of which time the commissioner may at his own option, turn the banks over to the new organization or proceed to liquidate.

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BANKS CLOSE IN ST. Bartlett and Fidelity Trust Companies Suspend Few Hours Apart

St. Joseph, Dec. large St. Joseph banking institutions closed their doors today only a few hours apart. The Bartlett Trust company was closed by its board of directors after steady withdrawals threatened to become heavy run. Hardly had been placed in the window, saying the bank's affairs had been turned over the state fincommissioner, when Fidelity Trust company also was closed. likewise closed its doors at the order of its board of directors. Whether the closings had any connection known. The Fidelity Trust company was captalized at $100,000 and had deposits $300,000. Although at only $:00,the Bartlett Trust company had surplus $200,000, according to bank statements. was about seven years ago by Bartlett, who since has served as its president. Marmaduke Morton vicepresident secretary, and Walker, treasurer. The bank $2,000,000 in deposits According reports financial (ircles in Joseph, the deposits totalnearly more than that ago.

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OF

Plans To ert Closing Made By Bartlett Company.

The Associated ST. JOSEPH, The chology of fear demonstrated here Monday afternoon when bank caused run another, and institutions The Bartlett Trust Company, the strongest banks in Joseph for years, closed its doors o'clock, after lasting since Thursday The day before institution closed more than 000 withdrawn, and crowds stormed the bank. The Fidelity Trust Company, no connection with the Bartlett, within block of the Bartlett, and when hundreds withdrew posits at the larger trust yesterday morning, quick Fidelity. Just two hours after the Bartlett closed the Fidelity put sign that had asked commissioner of finance charge. The Bartlett closed only after pleas made to Joseph Clearing House Associaassistance. Finally appeal made Milton Tootle, president of the National Bank, and of the leading financiers of Northwest Tootle that members the Barlett family buy all real estate holdings the trust com pany. This with an assurance the Bartletts that all depositors could get any they wanted, would, opinion, the stitution. This suggestion was not followed. Shelby, of Stanberry, state bank arrived this morning took charge the Bartlett Trust Company, and Richards, of Lamar, Mo., other examiner, the time and assumed charge of Fidelity Trust Mr. said no statement on the condition of the Bartlett would be made for which the inventory will completed, trust company will be re-opened, with the state in charge, however. Cantley, Missouri State Commissioner of Finance, will Joseph look affairs the trust companies. He will confer Examiners Shelby and Truman Richards and with officials of institutions, who desirious learning chances they Ten days given at the end of which time the sioner, his option, may turn banks over the tions or proceed liquidate.

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BANKS CLOSE THEIR DOORS

St. Joseph, Mo., Dec. 29.-The Bartlett Trust Co., one of the oldest banks in St. Joseph, closed its doors today by order of the board of directors, and the State Commissioner of Finance has been asked to take charge. The bank's capital stock is $100,000 and deposits, according to the last statement, were $2,100,000. The Fidelity Trust Co., with a capital stock of $60,000 and deposits of 8414,874, closed its doors this afternoon. It is not connected with the Bartlett Trust Co. The bank's last report gave undivided profits S7865: loans $463,372 and total resources Depression in agricultural territory and consequent foreciosures of farm loans are given as the reasons for the Bartlett company's closing in formal statement issued by the direcAccording to the last statement of the company total loans amounted to $1,993,012.25. Time deposits amounted to $1,422,356.40 and demand deposits amounted to $157,239.70. and surplus fund totaled $175,000 A. L. Barilett, president of the trust company, agnounced that all depositors would be paid in full. The_Bartlett Trust Co. is allied with the Bartlett Brothers Land and Loan Co., and the trust company has been purchasing farm loans of the loan company. of opinion have directors and yester-

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BANKERS INDICTED WERE

Cashier And Five Directors Accused In Bank Crash

Associated ST. Mo., April Stewart, the Fidelity Trust Company which closed cember and Harold cashier of the bank, arraigned in the county criminal court on indictments returned by grand yesterday. The were the first accused appear from list nine indicted. The father faces nine indictments and the son five in connection failure the Fidelity. The elder Stewart charged lending more than $40,000 to him signatures fraudulently, embezzling accepting deposits knew the bank failing. The with accepting posits when he knew the bank failing. The president, cashier and five directors Security State Bank, which failed May 12, arraigned today indictments returned yesterday They W. Reed, president; Paul Holme. cashier, and Dr. Veach Wilson, Beale, William Whittaker and directors. There eight indictments against each man. Five charge cepting money when they know bank failing and three charge them Each gave bond $10,000 for trial in May. Dr. Holme member the Missouri State Board Osteopaand formerly the St. Joseph Library Beaghler of First Trust Company Sayannah, failed He under indictment in Andrew County in connection with that fail

The grand jury investigation been under February called by Judge Utz. state finance was one the nesses Robert Orr, liquidator for the and Brennan, liquidator for the security, testified presented books records of the bank the grand jury. The Security Bank capitalizfor $10,000 and deposits When closed May officers stated that depression the agricultural responsible, the belief expressed that depositors would lose little. So far only 10 cents the dollar on have been to depositors, but the expects to pay an other cents next The Fidelity Trust capitalizfor $100,000 and deposits totaled About year ago sorbed the American Exchange Bank St. Joseph. The failure of Fidelity attributed its officers to the psychology fear. The institution located few steps from the Bartlett Trust Company, which closed earlier day, after heavy Fidelity deposithe the Bartlett they began run stitution. The grand jury returned Bart officers blame in nection with that failure. No payments to depositors have made the Fidelity four months for filing claims belief expressed banking circles that finally will between and cents dollar

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Officers and Directors of Two St. Joseph Institutions Make Bond.

INDICTED THURSDAY

Security State and FidelTrust Failures. ity Involved.

By The Associated Press. ST. JOSEPH. Mo., April president Fidelity Trust which closed cember son, cashier of the raigned county criminal court today. returned by the grand jury yesterStewarts were the first from the list of nine appear by bankers indicted. The father faces nine indictments and the five conection with the failure of the Fidelity. The elder Stewart charged with lending than $40,000 to himobtaining signatures with accepting deposits when the bank failing. The charged accepting deposits knew bank failing. The cashier and five directors of the Security State Bank, which failed May raigned today on indictments turned They are W. Seid, president: Paul Holme, cashDr. Veach Wilson, Beale, William Whittaker and Beaghter, directors. There are eight indictments against each Five charges accepting they knew the bank failing and three charge them with over lending. Each bond for $10,000 for trial May. Holme member of the Dr. State board of Osteopathy member of the and Joseph library board. Beaghler secretary cashier of First Trust company at Savannah, failed last He under which year. indictment Andrew county connection that failure. The grand jury has under since February way when called by Judge 14, H. Utz, stae the nance and Sobert Orr, liquidator Fidelity and E. Brenfor liquidator for the Security, testified presented books and and records of the bank to the grand The Security Bank was capitalizfor $10,000 and deposits When closed last May officstated that the area was belief expressed that the would little. So far cents the dollar have only depositors, the been paid liquidator expects pay another 10 next month. The Fidelity Trust was capital$100,000 and deposits totalAbout year ago absorbed the American Exchange Bank Joseph. The failure the Fidelity its officers the attributed by psychology The tion located steps from Bartlett Trust which the earlier the day, after closed When Fidelity deposiheavy Bartlett tors run began their own they The report, stitution Bartreturned lett blame tion with that failure.

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DEPOSITORS WILL NOT LOSE

In the days that the closing of this popular St. Joseph banking institution it was declared by officials of the bank that none of the depositors would lose through the suspension of business and that liquidation the bank's affairs would show the trust company to be in solvent condition. Mr. McKissick, who has had considerable experience in the liquidation of closed banks for the state finance department, was appointed liquidator on January 21 and at the same time S. C. Cantley, state finance commissioner, named B. Voorhees as attorney to act in the liquidation. On the same day that the Bartlett Trust company closed. the closure of the Fidelity Trust company less than a block away. R. Orr was liquiof the latter bank, with Judge G. Zwick dating agent as attorney. Since that time both men in charge of the affairs of the Bartlett and Fidelity banks have been at work to salRecently an announcement was made that the Fidelity bank would pay its first dividend in August, amounting possibly to 35 per cent.

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PAYS $3,500 TO CITY

BILBY A BONDSMAN FOR TRUST COMPANY.

Total of $26,500 Now Has Been Paid Back From Deposits In Defunct Fidelity-City Still $74,000 Due From Security.