First National Bank (Scotland, SD)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
February 1, 1907
Location
Scotland, South Dakota (43.150, -97.718)
Bank Type
national
Charter Number
7048

Metadata

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
20.3%
Date receivership started
1907-02-04
Date receivership terminated
1909-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
25.8%
Share of assets assessed as doubtful
33.6%
Share of assets assessed as worthless
40.6%

Notes

Examiner closed bank and appointed receiver; later criminal charges and receiver actions follow.

Events (5)

1. November 28, 1903 Chartered
Source
historical_nic
2. February 1, 1907 Run
Cause
Rumor Or Misinformation
Cause Details
Publication of a dispatch/judgment about the predecessor Bank of Scotland and related rumors prompted heavy withdrawals by depositors.
Measures
Officers called the national bank examiner; examiner took charge to protect depositors.
Newspaper Excerpt
the publication of a dispatch ... caused heavy withdrawals
Source
newspapers
3. February 4, 1907 Suspension
Cause
Government Action
Cause Details
Closed by National Bank Examiner Silsby (examiner took charge as temporary receiver) at request of officers to protect depositors.
Newspaper Excerpt
National Bank Examiner George A. Silsby has advised the Comptroller of the Currency that he has closed the First National Bank of Scotland, S. D.
Source
newspapers
4. February 4, 1907 Receivership
Newspaper Excerpt
The examiner is now in charge as temporary receiver. ... Paul Landmann ... has been appointed receiver of the First National bank of Scotland, which recently was closed, and will assume duties as soon as bonds are approved by the comptroller of the currency.
Source
newspapers
5. February 4, 1907 Receivership
Source
historical_nic

Newspaper Articles (24)

Article from Evening Journal, February 4, 1907

Click image to open full size in new tab

Article Text

ODESSA-A fresh reign of terror prevails here and the city is in a panic. treet fighting, attended by many casualties, is occurring, the victims for the most part being Jews. Armed adherents of the union of the Russian people are the aggressors in the disturbances. Bands of men, heavily armed. are now parading the streets, wearing cockades to distinguish them and threatening fresh outbreaks. PHILADELPHIA-The body found floating in the Delaware river at the Walnut street wharf yesterday was this morning positively identified as being that of Frank S. Morton, the missing violinist of the Philadelphia Orchestra. ROCHESTER, N. Y.-Miss Mary S. Anthony, sister of the late Susan B. Anthony, the *famous suffragist, is dying at her home here. WASHINGTON-Nationss Bank Examiner George A. Silsby has advised the Comptroller of the Currency that he has closed the First National Bank of Scotland, S. D. No reason is given for the closing of the bank.


Article from Omaha Daily Bee, February 5, 1907

Click image to open full size in new tab

Article Text

SOUTH DAKOTA BANK CLOSED National Bank Examiner Reports He Shuts Doors of Institute at Scotland. WASHINGTON, Feb. 4.-National Bank Examiner George A. Silsby has advised the comptroller of the currency that he has closed the First National bank of Scotland, S. D. No reason is given for the closing of the bank. SCOTLAND, B. D., Feb. 4.-The First National bank of Scotland has been closed by Bank Examiner Silsby at the request of the officers. The publication of a dispatch from Sioux Falls stating that a judgment for over $7,000 was rendered against the stockholders of the old Bank of Scotland, the predecessor of the First National, caused heavy withdrawals, and it is said the action of the examiner was taken to protect the depositors. The examiner is now in charge as temporary receiver. The bank statement January 26 showed $105,000 deposits and a capital stock of $25,000. The total *resources were $150,000, including $87,000 loans and discounts. The bank was organized in 1903 by C. C. King, president; O. S. Barker, vice president, and J. P. Resner, cashier.


Article from The Citizen-Republican, February 7, 1907

Click image to open full size in new tab

Article Text

First National Bank Closed The First National Bank of Scotland was closed last Saturday at noon, by National Bank Examiner Silsby who is now in charge as temporary receiver. A statement of the bank published the day before it closed, showing condition on January 26, 1907, showed that the bank was apparently in very fair condition, but of course the value of the securities given can not Fe told until the investigation by the examiner is completed. The First National Bank was organized Jan. 1st 1904, succeeding the Bank of Scotland which was organized under an old territorial charter, and run for many years by C. C. King. Mr. King also owned a controlling interest in the stock of the new bank and was its president, and J. P. Resner, cashier. A short time ago the bank was re-organized Mr. King having contracted to sell his stock to Mr. Andrew Resner, but it appears that this deal had not been completed at the time of the failure and that considerable of the stock is still held by Mr. King. In the new organization V. S. Barker was made president and J. P. Resner cashier. Last week a report from Sioux Falls appeared in the daily papers to the effect that a judgment of over $7,000 had been rendered against the stock holders of the old Bank of Scotland, but though Mr. King promptly settled the judgment the suspicion aroused by this report, together with rumors of other matters pending against the Bank of Scotland, caused heavy withdrawals by the depositors of the First National which it was feared, though perhaps without reason, might be held for the obligations of the old bank. Realizing that the bank could not stand a run the examiner was called and after consultation with the officers he decided to take charge of the bank. The last bank statement showed deposits aggregating over $105,000. Of these about half were time deposits and the other half deposits subject to check. In the bank were over fifteen hundred dollars of school money, Mr. Resner being school treasurer; about $1,800 of county funds, and a large amount of government money belonging to the Indian fund. It is hoped that a satisfactory settlement can be made 80 that the bank can be reopened, but if not a permanent receiver will be appointed and the affairs closed up to the best possible advantage to the creditors. Mr. and Mrs. Jac. Hoffman returned on Wednesday from their wedding trip to Gettysburg and


Article from The Mitchell Capital, February 8, 1907

Click image to open full size in new tab

Article Text

HAVE DEFERRED FRANCHISE

Mitchell One Co. Asked Counsel to Wait Several Weeks Before Taking Any Action.

The city council met in regular session Monday evening with Mayor Branson in the chair and the following aldermen were present: Messis. Koch, Duncan, Kings, Curtis, Reeves, Wallace, Burns and Wells. Auditor Markham read the minutes of the previous meetings and they stood approved.

The reports of the city officers were taken up. The report of Treasurer Kibbee was referred to the finance committee. Weighmaster McDonald reported the receipts of his office as amounting to $30.33. Justice Herbert had but one case in court during the month of January, and his fees amounted to $2.35.

The bills against the city were presented, and having been audited by the finance committee, were allowed and warrants ordered drawn for their payment Among the bills was one for $7,000 for the payment of the new pump recently installed at the water works.

Several bills were not allowed and were referred to the proper committees for investigation and a report to be made on them at a later meeting.

There were quite a few people present in anticipation of the electric light franchise ordinance coming up for passage. When Mayor Branson called for the passage of ordinances, T. J. Spangler, attorney for the Mitchell Gas Co., made a statement to the council in behalf of the company. He stated that the company desired to defer action on the franchise ordinance until a later date, the reason for which he assigned to the unfortunate circumstance which happened at Scotland in the closing of the First National bank, in which one of the stockholders of the Mitchell Gas Co. was interested. The council granted the request and when it adjourned it was until Monday, Feb. 18, at which time the franchise ordinance will be taken up.

The ordinance granting an increase of salary to the chief of police and the policemen to $75 and $60 per month, respectively, was placed on its second reading and passed.

The city council will now have an opportunity to pass another franchise ordinance. E. M. Sinclair, who is associated with the Columbia Gas & Construction Co. of Sioux City, appeared before the council with a gas franchise, on which he asked favorable consideration. Associated with Mr. Sinclair in this city are D. E. Braught and A. C. Berry. The ordinance is practically the same as the present gas ordinance, with the exception that the rates are to be lower, charging $1.50 per hundred cubic feet for acetylene gas and $1.50 per thousand cubic feet for other gases that might be used by the company. The ordinance also provides for a lowering of these rates when the consumption of the gas shall have reached 3,000 cubic feet in twenty-four hours Mr. Sinclair stated that the company which is manufacturing these plants in Sioux City is desirous, of moving to another location and be held out as an inducement for a passage of the ordniane the pos ible removal of the company's plant to Mitchell. Mr. Sinclair also offered a contract to the city binding the new company to furnish $200 worth of gas to the city each year free of charge. The ordinance was referred to the ordinance committee for investigation.

Bids were opened for the construction of additionl height to the smokestack on the city hall building. Fifteen feet of the stack is to be of brick and the balance of steel. Bids were made by Adolph Scheurenbrand and August Groeber for the brick work at $77, and by Frank Summers, whose bid was along the same line, but offering to make the entire stack of steel for $135. The bids were referred to the city hall committee hall with power to act.

Alderman Burns called the attention of the council to the very poor condition of the roof on the library building, which is leaking badly and has spoiled much of the decorations placed their by the ladies and that more of it would be destroyed in the future if something was not done with the roof immediately. It was referred to the library committee with power to act in securing bids to place a new roof on the structure. The present roof is so constructed that where it is connected to the troughs the snow blows underneath, and melting seaps through


Article from The Mitchell Capital, February 22, 1907

Click image to open full size in new tab

Article Text

NO LONGER EXAMINER Geo

A. Silsby Tendered His Resignation as National Bank Examiner to Comptroller. In an interview with Geo. A. Silsby today he informed the editor of The Republican that on Feb. 13th he tendered his resignation as examiner to the comptroller of the currency at Washington and that on the 18th it was accepted, the notice of which Mr. Silsby received this morning. Mr. Silsby has held the position over eight years and having reached the age of sixty has decided to lead a less strenuous life and give up a position which forced almost constant absence from home. He will doubtless launch into some local business, but has no plans matured as yet. Mr. Silsby was appointed receiver of the First National Bank of Scotland, which was recently closed, but asked to be relieved of the charge, and this was done by the appointment of Mr. Paul Landmann, of Scotland, and Mr. Silsby transferred to him Monday evening. Mr. Silsby would not give out any information relative to the condition of the bank, stating that such news would be disclosed through the office of the comptroller only.


Article from The Miller Sun, March 2, 1907

Click image to open full size in new tab

Article Text

LANDMANN FOR RECEIVER

Named to Take Charge of Failed Scot. land Bank. Information has been received to the effect that Paul Landmann, a prominent resident of Scotland, and who on two occasions was a candidate for nomination on the Republican state ticket to the office of state treas. urer, has been appointed receiver 01 the First National bank, of Scotland, which recently was closed by Geo. A. Silsby, national bank examiner for South Dakota. Mr. Landmann will as. sume the duties of the position as soon as his bonds are approved by the comptroller of the currency. It is probable that the exact condition of the affairs of the bank will not be known until he has made n thorough investigation and report. The bank had on deposit about $28,000 be. longing to Indians residing in Charles Mix county. These deposits are secured by bonds, which are believed to be good, so it is thought the Indian depositors will lose nothing by the closing of the bank. In addition there were deposits aggregating about $77,000 belonging to residents of Scotland and Bonhomme county.


Article from The Washington Herald, April 24, 1907

Click image to open full size in new tab

Article Text

FLEEING BANKER CAUGHT.

Dakota Man Used Funds Wrongly, Identified by Picture.

Chicago, April 23.-Charles King, former president of the First National Bank of Scotland, S. D., was arrested here by Federal officers this morning, charged with misappropriation of $45,000 in violation of the United States banking laws.

He was arraigned before United States Commissioner Foote, waived examination, and held in $20,000 bonds, which he was unable to give. King will be taken to Pierre, S. D., for hearing in the Federal court. While at the head of the First National Bank, King is said to have issued a number of certificates of deposit, bearing his portrait. But for this fact, it is probable that he would never have been captured. The certificates were sent to various marshals throughout the country as a means of identification.

King was one of Scotland's most prominent citizens, and was at the head of the bank for years. While in that position, it is alleged, he issued the certificates, converting them to his own use. He left Scotland, after which a run on the bank followed.


Article from The Mitchell Capital, April 26, 1907

Click image to open full size in new tab

Article Text

BANK IN VERY BAD SHAPE; PAY ONLY 20 PER CENT. Scotlend, S. D., April 25.-The arrest in Chicago of President C. C. King of the First National bank, of Scotland, caused general surprise to all except Receiver Paul Landmann, who has charge of the bank. It is expected that King will be brought back tomorrow and will be given a hearing before a United States commissioner at Yankton. Receiver Landmann denies the Chicago report that King has all andy been indicted, although there were three secret indictments returned by the federal grand jury at Slous Falls about ten days ago. Fearing that King contemplated fleeing from the country. Receiver Landmann advised the federal officials of Chicago and a United States marshal caught the banker today. Dank in Bad Shape. The receiver would not disclose the exact nature f the charges to be brought against Mr. King, but denied that the specific charge would be the issuance of $45,000 of certificates of deposit to himself, as the Chicago story reports. "There is Ro doubt the bank is in very bad shape," said the receiver to The Tribune. "It is not likely that it will pay out more than 20 per cent. on its liabiliti pef $107,000." At the tin of the closing of the bank by work Exariner Silsby, of Mitchell, bruary 3, it was said that the general belief was that funds of the bards had beei. used extensively to nance the electric lighting enterprise in Mit S. D., at the head of which was Mr. King. The Mitchell city council recently voted to extend the franchise to Mr. King, but the referendum petition was showing up so strongly against the proposition that he did not allow it to go to a vote, but refused the extension. King is very well known throughout the state.


Article from Twice-A-Week Plain Dealer, April 30, 1907

Click image to open full size in new tab

Article Text

ALLEGED EMBEZZLER TAKEN MAN CHARGED WITH WRECKING BANK CAUGHT IN CHICAGO. Portrait on Currency Note Leads to Capture of c. c. King, Formerly of Scotland, S. D. Chicago, April 24.-Charles C. King, former president of the First National bank of Scotland, S. D., alleged wrecker of the institution and accused of having embezzled $21,000, was arrested in Chicago Tuesday after a search extending over many months. He was captured in the Hotel Kaiserhoff by federal officers. King was taken to the county jail. He will be arraigned before United States Commissioner Foote on the charge of converting the bank funds to his own use. King has declared he is willing to return to Scotland to face trial. The bank president was arrested by United States Deputy Marshal James Donovan. A week ago the federal authorities received secret information that King had arrived in Chicago and was stopping at a downtown hotel. Donovan at once began a search of all the hotels in the loop district. While King was the head of the First National bank of Scotland he issued a number of certificates of deposit bearing his portrait. But for that fact it is probable that he never would have been captured. These certificates were sent to the various marshals throughout the country as a means of identification. Deputy Marshal Donovan carried one of these certificates in making his search and recognized his man by the likeness King was one of the foremost citizens of Scotland, S. D. He was head of the First National bank for years. While in that position he issued the certificates of deposit, and, it is alleged, he converted the money to his own use. It is also alleged that he embezzled $21,000. When discovery seemed immediate, he left Scotland. A run on the bank followed when the absence of the president became known. The bank also failed, it is said, on August 27, 1906. Since that time the federal authorities have been conducting a search for him. Scotland, S. D., April 24.-Received Landmann of the failed First National bank of Scotland said Tuesday that President Charles C. King will be brought to Yankton for a hearing. Receiver Landmann says the bank will not pay more than 20 per cent on the $107,000 liabilities.


Article from Forest City Press, May 2, 1907

Click image to open full size in new tab

Article Text

BANK IN VERY BAD SHAPE

PAY ONLY 20 PER CENT. Scotland, S. D., April 25.-The arrest in Chicago of President C. C. King of the First National bank, of Scotland, caused general surprise to all except Receiver Paul Landmann, who has charge of the bank. It is expected that King will be brought back tomorrow and will be given a hearing before a United States commissioner at Yankton. Receiver Landmann denies the Chicago report that King has already been indicted, although there were three secret indictments returned by the federal grand jury at Sioux Falls about ten days ago. Fearing that King contemplated fleeing from the country. Receiver Landmann advised the federal officials of Chicago and a United States marshal caught the banker today. Bank in Bad Shape. The receiver would not disclose the exact nature of the charges to be brought against Mr. King. but denied that the specific charge would be the issuance of $45,000 of certificates of deposit to himself, as the Chicago story reports. "There is no doubt the bank is in very bad shape," said the receiver to The Tribune. "It is not likely that it. will pay out more than 20 per cent. on its liabilities of $107,000." At the time of the closing of the bank by Bank Examiner Silsby. of Mitchell, February 2, it was said that the general belief was that funds of the bank had been used extensively to finance the electric lighting enterprise in Mitchell, S. D., at the head of which was Mr. King. The Mitchell city council recently voted to extend the franchise to Mr. King. but the referendum petition was showing up so strongly against the proposition that he did not allow it to go to a vote, but refused the extension. King is very well known throughout the state.


Article from The Elbert County Tribune, May 2, 1907

Click image to open full size in new tab

Article Text

exploded, Killing three trainmen, injuring two others, and wrecking the engine and caboose. There is a serious lack of farm hands in the Northwest according to reports received by the Great Northern railroad. Two thousand prairie dogs at $3 each have been contracted for in South Dakota by English lords who have exterminate the rabbits and hares on their shooting reserves in England ar are languishing for sport. The Russo-Japanese negotiations on the fisheries question are reported to have resulted in a satisfactory agreement. A lawsuit that has been in the courts 32 years was recently again argued in the Supreme court of Missouri. The motermen and conductors on the Salt Lake City, Utah, street car lines to the number of 450 have struck following a refusal of the company officiais to arbitrate their differences. A new schedule to become effective July 1, increases the pay of the rural free delivery carries from 9 to 25 per cent, based upon the number of miles traveled. The trial of Binger Herman former commissioner of the general land office on a charge of destroying public records after continuing 12 weeks, resulted in a verdict of acquittal. The Sedalia, Mo., Busines Men's association has signed a contract with a St. Louis shoe company by which a branch factory will be built at Sedalia, A plan is being formed in six of the principal wheat growing states by the farmers to hold their wheat for one dollar per bushel. A sensation was created in Joplin, Mo., by the discovery that the police were a room had force furnished lounging enjoying which luxuriously been donated by saloon keepers, diswomen and of the city. sentiment was solrte Public gamblers thoroughly aroused and the grand jury will investigate. In a letter written by President cago Roosevelt Moyer-Haywood to the chairman conference of the Chi- the president stands by his former assertions and declares that the actions of the friends of the accused men are flagrantly improper, in that they are trying to influence judge and jury in the coming trial. of the First bank of S. Charge National C. King. president Scotland, arrested in with the D., charged has been having misapplied Chicago funds of the bank, which recently failed. The Zoeller packing plant at Pittsburg, was by thousand of fire. lard Pa., Five in hundred recently destroyed pounds one building was entirely consumed. The loss was placed at $300.000. The supreme court of Kansas has S. H. Judge T. F. all Whitcourt appointed and Judge Allen, Garver, G. H. as receivers for the Kansas of various A joint of Topeka, property bond breweries. of $45,000 was orSecretary has created Wilson, by executive required. food der, the board of and drug inspection, whose it be the national to adminiter duty pure shall food law. The president heartily approves the plan. Frank H. Butler, a steamer deckbeen arrested of the the hand, murder has four-year-old charged with son of Dr. Horace N. who his home in appeared from Marvin, Dover, disDel., March 4. À recent bulletin issued Oklahoma board retary of the by the of sec- agriculture states that the wheat crop is only 60.8 per cent and the oats crop 30 per cent. movement has been in Milwaukee, A started Wis., to set aside a day on which every union to protest dent country in May is against in Presi- the Roosevelt's assertion that Moyer, Haywood and Debs are unde sirable citizens. Four million bushels of coal down the Ohio Pitisburg shipped river from were in one day recently, breaking all records for this time of the year. The suit of the Copper Range Concompany C. solidated Burrage, Thomas Mining Colbert W. Lawson and others, has been settled out government has The issued forestry of court. service a circular saying that this consumes every four times more three country is and year wood between than grown in all its forests in the same time. Miss Violet Spencer, of Alton, III., attacked by a and slashed her was domen home recently across negro the near abwith a razor. A cloak saved her life. suspects was a¹ that heavy Several have been arrested. Superior Judge Hebbard, of has sworn to a Heney District against Francisco, Assistant complaint Attorney San


Article from Gilpin Observer, May 2, 1907

Click image to open full size in new tab

Article Text

Oranon, MO., the boner or the engine injurexploded, kiling three trainmen, the ening LWO others, and wrecking gine and caboose. is a serious lack of farm There in the Northwest according Northhands to reports received by the Great ern railroad. Two thousand prairie dogs at $3 South each been contracted for in have Dakota have by English lords who on exterminate the rabbits and hares and their shooting reserves in England are languishing for sport. Russo-Japanese negotiations The the fisheries question are reported to on have resulted in a satisfactory agreement. lawsuit that has been in the A 32 years was recently again Misargued courts in the Supreme court of souri. The motermen and conductors car on Salt Lake City, Utah, street struck the lines to the number of 450 have following a refusal of the company officials to arbitrate their differences. effective A new schedule to become rural 1, increases the pay of the 25 July free delivery carries from 9 to of per cent, based upon the number miles traveled. The trial of Binger Herman former office commissioner of the general land charge of destroying public re- records on a after continuing 12 weeks, sulted in a verdict of acquittal. The Sedalia, Mo., Busines Men's with association has signed a contract a St. Louis shoe company by which Sedalia. branch a factory will be built at of A plan is being formed in six by the principal wheat growing states for the farmers to hold their wheat one dollar per bushel. sensation was created in Joplin, police A by the discovery that the were enjoying a lounging room furnished force Mo., which luxuriously dis- had been donated by saloon keepers, of the solute women and gamblers city. Public sentiment was thorough- will ly aroused and the grand jury investigate. letter written by President ChiRoosevelt In a to the chairman of the the Moyer-Haywood conference ascago president stands by his former actions sertions and declares that the are the friends of the accused men are flagrantly of improper. in that they in trying to influence judge and jury the coming trial. Charge C. King, president of the S. First National bank of Scotland, Chicago has been arrested in the charged D., with having misapplied recently funds of the bank, which failed. The Zoeller packing plant at Pitts- by Pa., was recently destroyed pounds fire. burg, Five hundred thousand entirely lard in one building was at of consumed. The loss was placed $300.000. The supreme court of Kansas has H. appointed Judge S. H. Allen, G. all Whitcourt and Judge T. F. Garver, Kanof Topeka, as receivers for the A property of various breweries. sas joint bond of $45,000 was required. Secretary Wilson, by executive and orhas created the board of food shall der, inspection, whose duty it food be drug to adminiter the national pure law. The president heartily approves the plan. Frank H. Butler, a steamer deck- with has been arrested charged son hand, the murder of the four-year-old disof Dr. Horace N. Marvin, who Dover, appeared from his home in Del., March 4. A recent bulletin issued by the secof the Oklahoma board of agretary riculture states that the wheat crop is only 60.8 per cent and the oats crop 30 per cent. A movement has been started day in Milwaukee, Wis., to set aside a the May on which every union in Presicountry in is to protest against that dent Roosevelt's assertion Moyer, Haywood and Debs are unde sirable citizens. Four million bushels of coal from were shipped down the Ohio river Pittsburg in one day recently, break- the ing all records for this time of year. The suit of the Copper Range Con- C. solidated Mining company Colbert othThomas W. Lawson and been settled out Burrage, ers, has of court. service The government forestry this has issued a circular saying that between country consumes every year than three and four times more wood is grown in all its forests in the same time. Miss Violet Spencer, of Alton, III., recently attacked by a negro the near abwas her home and slashed across cloak domen with a razor. A heavy Several was all that saved her life. suspects have been arrested.


Article from The Ordway New Era, May 3, 1907

Click image to open full size in new tab

Article Text

a freight engine drawing a was year the emboose O'Fallon, Mo., running boller rapidly of the engine exploded, kiling three trainmen, injurink two others, and wrecking the engine and cabooke. There is a serious lack of farm hands in the Northwest according to reports received by the Great Northern rallroad. Two thousand prairie dogs at $3 each have been contracted for in South Dakota by English lords who have the on their shooting reserves in exterminate rabbits and England hares and are languishing for sport. The Russo-Japanese negotiations b on the fisheries question are reported to have resulted in a satisfactory agreement. , e A lawsuit that has been in the courts 32 years was recently again argued in the Supreme court of Missourl. The motermen and conductors on e the Salt Lake City, Utah, street car lines to the number of 450 have struck I following a refusal of the company officials to arbitrate their differences. A new schedule to become effective b July 1, increases the pay of the rural free delivery carries from 9 to 25 per cent, based upon the number of miles traveled. of Binger Herman former of the general commissioner The trial land office reon of continuing 12 records a charge after destroying weeks, public sulted in a verdict of acquittal. Mo., asThe Sedalla, Busines contract Men's sociation has signed a with a shoe company a will be built at branch St. Louis factory by which Sedalia. six is being formed in of the wheat growing A principal plan wheat states for by the farmers to hold their one dollar per bushel. 3 A sensation was created in Joplin, the discovery that Mo., by luxuriously the police force were enjoying a furnished lounging room which had been donated by saloon keepers, dissolute women and gamblers of the city. Public sentiment was thoroughly aroused and the grand jury will investigate. In a letter written by President to the chairman of the Chicago Roosevelt Moyer-Haywood conference former the aspresident stands by his sertions and declares that the actions of the friends of the accused men are flagrantly improper, in that they are trying to influence judge and jury in the coming trial. Charge C. King. president of the First National bank of Scotland, S. D., has been arrested in Chicago charged with having misapplied the funds of the bank, which recently failed. The Zoeller packing plant at Pittsburg. Pa., was recently destroyed by fire. Five hundred thousand pounds of lard in one building was entirely consumed. The loss was placed at $300.000. The supreme court of Kansas has appointed Judge S. H. Allen, G. all H. Whitcourt and Judge T. F. Garver, of Topeka, as receivers for the Kan- A sas property of various breweries. joint bond of $45,000 was required. Secretary Wilson, by executive and order, has created the board of food drug inspection, whose duty it shall be to adminiter the national pure food law. The president heartily approves the plan. Frank H. Butler, a steamer deckhand, has been arrested charged with the murder of the four-year-old dis- son of Dr. Horace N. Marvin, who appeared from his home in Dover, Del., March 4. A recent bulletin issued by the secretary of the Oklahoma board of agriculture states that the wheat crop is only 60.8 per cent and the oats crop 30 per cent. A movement has been started in Milwaukee, Wis., to set aside a day the in May on which every union in country is to protest against Presi- that dent Roosevelt's assertion Moyer, Haywood and Debs are unde sirable citizens. Four million bushels of coal from were shipped down the Ohio river Pittsburg in one day recently, break- the ing all records for this time of year. The suit of the Copper Range Consolidated Mining company Colbert oth- C. Burrage, Thomas W. Lawson and has been settled out of court. ers, government forestry service


Article from Rocky Ford Enterprise, May 3, 1907

Click image to open full size in new tab

Article Text

force were enjoying a luxuriously room which bad donated by saloon furnished been lounging keepers. of dis- the solute women and gamblers Public sentiment was city. thorough- jury will ly aroused and the grand investigate In a letter written by President to the chairman of the Chistands by his ascago president Roosevelt Moyer-Haywood conference former the and declares that the actions of of the men are sertions the friends accused they are flagrantly improper. in that trying to influence judge and jury in the coming trial. c. King. president of the 8. bank of First Charge has National Scotland, Chicago D., been arrested in charged with having misapplied the funds of the bank, which recently failed. The Zoeller packing plant at Pittsburg. Pa., was recently destroyed by hundred thousand pounds one building was of fire. lard Five in entirely at consumed. The loss was placed $200,000. Four million bushels of coal were down the Ohio in one day Pittsburg shipped recently. river of break- from the ing all records for this time year. The supreme court of Kansas has Judge S. H. H. and Judge T. F. appointed Whiteourt Allen, Garver, the G. Kan- all of Topeka. as receivers for A was of various bond of $45,000 was joint property breweries. required. Wilson, by executive orcreated the board of der, Secretary has food It shall and drug inspection, whose duty be to adminiter the national pure food law. The president heartily approves the plan. Frank H. Butler. who was charged the murder of the Marvin boy at has been for want of with custody. Dover. Del. sufficient released from evidence against him. Frank H. Butler, a steamer deckhas been arrested charged with of the son of Horace N. Marvin, who hand, the Dr. murder four-year-old disappeared from his home in Dover, Del., March 4. has been started in Wis., to set a Milwaukee, A movement union aside In day the May on which every is to protest Roosevelt's dent country in assertion against Presi- unde- that Moyer. Haywood and Debs are sirable citizens. A recent bulletin Issued by the sec. of the Oklahoma ag. states that the crop riculture retary board wheat of is only 60.8 per cent and the oats crop 30 per cent. The Kansas supreme court has the petition of Gen- in eral for a granted Jackson receivership Attorney the ouster injunction cases against the brewery companies who have been doing business in Kansas contrary to the prohibitory law. t The main features at the opening of Jamestown exposition were the naval display spectacular the Roosevelt. and the The address of President exposition itself was not ready for visitors when the opening exercises were held. The suit of the Copper Range Consolidated Mining company Colbert C. Thomas W. Lawson oth0 been settled out Burrage, ers. has of and court. service government forestry has a circular consumes every year country The issued saying that between this three and four times more wood than is grown in all its forests in the same time. n Miss Violet Spencer. of Alton, III., e was recently attacked by a negro near and slashed across t with a razor. A n domen her home heavy the Several cloak abwas all that saved her life. suspects have been arrested. f n Superior Judge Hebbard, of San has sworn to a t Assistant against Francisco, District complaint Attorney charging criminal libel. the Eelevator company St. f Heney Harroun W. H. Harroun, ex-president of of Mo., pleaded guilty to forgery in fourth degree and was h Joseph. the He sentenced later to. 18 months in jail. was paroled. Chris Maier, a Topeka jointist has by Gov. y bond never to in been gave a pardoned $1,000 Hoch. engage He the liquor business again. field gun with the t The new being which armed n Japanese artillery is e has an effective range of about 8,500 yards. Each gun costs $5,000. advices are to the efk the peace e in Central fect progress Washington that negotiations America have in deadlock a rehostilities seems come newal to of a and that of probable. AmerThe Architectual league a convention with delegates ica ington is holding present in Wash- from all sectons of the country.


Article from The Citizen-Republican, June 20, 1907

Click image to open full size in new tab

Article Text

Philip Schmerer and wife returned on Wednesday from their wedding trip taken to the Black Hills, and are preparing to settle in a suite of rooms over the post office.

The C. E. society will give a social on the lawn of W. C. Haynes on Friday evening of this week. Ice cream and cake, lemonade and candy will be sold, and an interesting literary and musical program given in which Miss Rosa Wittmayer will take part. Everybody invited.

Some of the young ladies of Scotland the budding blossoms of society, gave a social dance in the Odd Fellows' Hall last Friday evening. Their first effort proved to be a grand success both as to numbers and social entertainment. Music was furnished by Schneider's orchestra.

Mr. W. W. Hunt and Miss Tena Wierenga were married on Wednesday, June 19th at the M. E. parsonage in Tyndall, the ceremony being performed by Rev. Mr. Jones. Mr. Hunt came here some time ago and took a position as operator at the depot and for the past two months during the absence of Mr. Griffiths has been acting as agent. The bride lived for a time in Scotland but moved with her parents, Mr. and Mrs. Iccarius, to Marion Junction about a year ago. Mr. Hunt had fixed up the rooms over the depot, which he had nicely furnished, and with a pleasant home and the best wishes of a large company of friends they start out on life's journey together with every prospect of success. We trust that the happy bride will realize that her Hunt has brought her happiness.

Mr. Geo. Rosenthal and Mr. J. M. Sutherland, of St Louis, were in Scotland Tuesday, and in company with Mr. Paul Landmann took a drive out to the Jim river. The gentlemen are here representing the Washington National Bank of St. Louis, which was a correspondent bank of the First National Bank of Scotland. In its dealings with Mr. King the St. Louis bank came into possession of a large bunch of stock and bonds of the Mitchell Gas Co. and we understand that these gentlemen are here with a view to buying up the balance of the stock so that they may secure complete control of the plant. The First National Bank of Scotland held stock and bonds of the Mitchell Gas Co amounting at face value to over $18,000, and Receiver Landmann hopes to realize a fair per cent of the par value from the sale to these gentlemen, and if he succeeds it will be quite a lift for the creditors of the defunct bank.

Miss Tillie White visited


Article from The Citizen-Republican, June 27, 1907

Click image to open full size in new tab

Article Text

CASTORIA.

Bears the Signature of

Paul Landmann, receiver of the First National Bank, left on Monday for St. Louis where he will endeavor to make a settlement of the affairs of the bank with the officers of the Washington National bank. He will go from there to Washington to consult with the comptroller of the currency regarding the affairs of the bank.

T. I. Patten, our nurseryman, has been looking up the new nursery law which goes into effect July 1st. Among other things he says the law requires every dealer to put up a cash bond of $5000, and other restrictions which he thinks will put him out of business. In fact he says he knows of only two nurserymen in this state who could comply with the provisions of the law, and he concludes that the purpose of the law was to freeze out small dealers and give the big outside nurserymen a monopoly of the trade.

The trustees of the German school put a crew of men at work Monday morning excavating for the new school building. The building will be attached to the present dormitory, and will be 26x38 feet in size, and have two stories and a basement. The school has now been in operation two years and the attendance has increased to such an extent that its permanency seems to be assured and the trustees feel safe in making the necessary investment to secure permanent and convenient quarters for it.

C. C. King, who was sentenced June 15th to five years imprisonment in the federal prison at Leavenworth, Kans. for wrecking the First National Bank of Scotland, was brought to Sioux Falls Thursday where he was permitted to stay a couple of days to arrange his business affairs. Saturday morning he was taken to Yankton, and the members of his family went from here on the early morning train to meet him at that place to bid him farewell. In order to relieve the family of as much embarrassment as possible the meeting was arranged with as much privacy as possible by U. S. Marshal, Seth Bullock, in rooms at the Merchants' Hotel. Mr. King was taken on the afternoon train Saturday to Leavenworth where he arrived Sunday morning. While no excuse can be offered the case has its pathetic features. He is a man of more than ordinary business ability, but ambition to get rich quick at any cost led him into reckless speculations. Like "Col. Sellers," in whatever enterprise he engaged he saw "millions in it." It could hardly be expected that in a community where so many innocent persons have suffered through his machinations much sympathy should be expressed for him, but for his aged mother who is universally respected, and bears her affliction like a true Spartan, and also for his two small children, too small as yet to realize their affliction, there is much sympathy.


Article from Forest City Press, July 4, 1907

Click image to open full size in new tab

Article Text

Francis B. Wright, Kane county, Ill.

Statement of Scotland Bank.

Following is a report of King's transaction published by the Citizens Republican, whose editor had free access to the bank books for nearly two months when clerk under Receiver Landmann:

When the First National bank was closed by the examiner February 2, 1907, the total assets of the institution were listed at $104,980.94. Of these more than half were listed as worthless and about one-third as doubtful. Among the worthless list was included a bunch of certificates of deposit issued by the old Bank of Scotland which went out of existence when the First National was organized. These certificates to the amount of $21,777.54 had been redeemed by the First National, and were being carried as bills receivable. There were school warrants amounting to $1,946.19 that had been sold to a bank in Sioux City but still carried as assets; notes to the amount of $6,433.13 held as collateral by a bank in Sioux City to secure a loan of $2,500 and also to secure the payment of over $11,000 worth of notes that had been sold with guarantee of payment. Unsecured notes signed by Mr. King, his wife and his mother amounting to $7,800, and his notes signed by J. P. Resner, his wife and son amounting to $2,715. besides a bunch of fictitious notes amounting to many thousands of dollars. In the doubtful list were shares of stock in the Mitchell Gas company, carried at $18,984.95, bonds of the company of $3,500, and notes signed by the company of $6,017.33. The total cash on hand at the time of closing was only $3,322.40. The banking house and fixtures were valued at' $9,071.18, but had been well sold at $6,000. The liabilities of the bank consist of claims proved at about $97,000, of which, $6,456.75 were filed as special claims.


Article from The Citizen-Republican, July 4, 1907

Click image to open full size in new tab

Article Text

Fine watch-dog (shepherd) 5 00 Rockers, dishes, portiers, lamps, etc.

Mrs. G. P. Harben and daughter of Platte, arrived last Friday and visited at the home of her daughter, Mrs. Lorenzo Hebbert.

Mr. Philip Kroft returned to his home in Oaks, N. D. Monday, after visiting his brother George in Scotland for a week.

Mrs. Conrad Berreth and her daughter returned to their home in McPherson county Monday after visiting here for a few days.

A Large Assortment of Ladies Yoke Collars just arrived from New York must be seen to be appreciated. F. BECKER.

Mr. Carl Hirsch of Tripp was in town Saturday. He is preparing to build a house on his farm southwest of Scotland.

Mr. and Mrs. LeVerne Waite of Cattaraugus county, N. Y., the latter a niece of Mrs. P. A. Bliss, arrived last Friday, and after visiting here for a few days will visit friends in Kansas.

Mr. and Mrs. Paul Landman returned home Monday. Mr. Landmann went to St. Louis to consult the officers of the Washington National Bank in reference to the sale to them of a bunch of Mitchell Gas Co. bonds held by him as receiver of the First National Bank of Scotland. No satisfactory offer on the bonds was received so it was not necessary at this time to go on to Washington D. C. He returned by way of Harvard, Neb. where Mrs. Landmann had been visiting for several weeks, and she returned with him.

Piles get quick and certain relief from Dr. Shoop's Magic Ointment. Please note it is made alone for Piles, and it's action is positive and certain. Itching, painful, protruding or blind piles disappear like magic by its use. Large nickel-capped glass jars 50 cents. Sold by All Dealers.

On account of the fact that Judge E. G. Smith is holding an important term of court in Gregory county it was impossible for him to deliver the oration today in Scotland as previously arranged. The committee however has been fortunate in securing in his place Hon. S. V. Jones of Parker. Mr. Jones is one of the old timers in the state and is a speaker of recognized ability and we trust that he will be given a large and attentive audience. The new speaker's stand has been completed in the park, and seats provided so that it will be an attractive place to meet, and those who have had the pleasure of hearing Mr. Jones speak on former occasions say that he is a very entertaining talker.

CASTORIA. Bears the Signature of Chat H. Fletcher


Article from The Citizen-Republican, August 1, 1907

Click image to open full size in new tab

Article Text

For Sale.

Lot 1, Block 21, Lawler's Addition to Scotland, together with building thereon, known as the Resner blacksmith shop. Also lots 1, 2, 3, 4, 5, 6, 7, 8, 9, in Block 11, Stafford's Addition to South Scotland, S. D. For further information address or call on PAUL LANDMANN, Receiver First National Bank, Scotland, S. D.

Notice of Teachers" Examination.

Regular examinations for teachers will be given for 1907 as follows: Aug. 15 and 16 for all grades. Sept. 12 and 13 for state, first, second, and third grades. Oct. 17 and 18 for first, second, and third only. Nov. 21 and 22 for first, second, and third only. This notice will be printed but three times and teachers should note these and bear them in mind.

G. E. MULLER. Co. Supt.


Article from The Citizen-Republican, September 5, 1907

Click image to open full size in new tab

Article Text

For Sale.

Lot 1, Block 21, Lawler's Addition to Scotland, together with building thereon, known as the Resner blacksmith shop. Also lots 1, 2, 3, 4, 5, 6, 7, 8, 9, in Block 11, Stafford's Addition to South Scotland, S. D. For further information address or call on

PAUL LANDMANN, Receiver First National Bank, Scotland, S. D.


Article from The Citizen-Republican, September 12, 1907

Click image to open full size in new tab

Article Text

For Sale.

Lot 1, Block 21, Lawler's Addition to Scotland, together with building thereon, known as the Resner blacksmith shop. Also lots 1, 2, 3, 4, 5, 6, 7, 8, 9, in Block 11, Stafford's Addition to South Scotland, S. D. For further information address or call on

PAUL LANDMANN, Receiver First National Bank, Scotland, S. D.


Article from The Citizen-Republican, November 14, 1907

Click image to open full size in new tab

Article Text

The present financial stringency is causing a general discussion of our present bankingsystem. Paul Landmann, receiver of the defunct First National Bank of Scotland, believes that the first requisite is to provide greater security for depositors. At the present time, with an abundance of money per capita coined, the banks are short, showing that the currency is being hoarded by individuals, and this condition reveals a lack of public confidence in our banks. There is no lack of confidence in national bank notes, because every note is secured by U.S. bonds deposited with the government and the government guarantees the redemption of the notes. Mr. Landmann would extend this system to cover individual deposits in banks. He would require every state bank to deposit with the state, and every national bank to deposit with the national government, real estate or other approved securities sufficient to cover all deposits carried by said banks. These securities would be held by the state or national government in trust, to secure the payment of all depositors. The present banking system is based largely upon confidence and our experience shows that this confidence is not strong enough to attract the money of the individuals and thus through the banks keep it in circulation. The plan of Mr. Landmann would place the system on a basis of actual value, remove all possibility of loss through bank failures, increase the business of the banks, do away with reckless speculation by irresponsible bankers and benefit the public.


Article from The Citizen-Republican, December 19, 1907

Click image to open full size in new tab

Article Text

Paul Landmann

as Receiver of the First National Bank of Scotland, South Dakota, Plaintiff,


Article from The Citizen-Republican, December 26, 1907

Click image to open full size in new tab

Article Text

Paul Landmann

as Receiver of the First National Bank of Scotland, South Dakota, Plaintiff, vs