7313. Germania Safety Vault & Trust Company (Louisville, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
January 20, 1897
Location
Louisville, Kentucky (38.254, -85.759)

Metadata

Model
gpt-5-mini
Short Digest
87818c03

Response Measures

None

Description

The trust company was placed in the hands of a receiver Jan 20, 1897 after the suspension of the German National Bank (it had large deposits there). On March 9, 1897 the trust company made an assignment to Columbia Finance & Trust, indicating permanent failure/closure. No newspaper account describes a depositor run; primary event is receivership/suspension followed by assignment (closure).

Events (2)
1. January 20, 1897 Suspension
Cause
Correspondent
Cause Details
Failure/suspension of the German National Bank, in which the trust company had about $100,000 on deposit, prompted receivership appointment; plaintiffs alleged violations of charter and improper investments/deposits with the suspended German National Bank. (Articles cite ~Jan 20, 1897.)
Newspaper Excerpt
The Germania Safety Vault and Trust Co. went into the hands of a receiver this afternoon, Charles Taylor being named.
Source
newspapers
2. March 9, 1897 Other
Newspaper Excerpt
The Germania Safety Vault and Trust company made an assignment this afternoon to the Columbia Finance and Trust Company. No schedule of assets and liabilities was filed. ... It was reorganized, but was unable to do a paying business. (March 9, 1897.)
Source
newspapers

Newspaper Articles (10)
1. January 21, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 21, 1897

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Article Text

Stockholders Will Be Assessed. Louisville, Jan. 20.-Judge Toney this evening appointed Charles F. Taylor receiver of the Germania Safety Vault and Trust company. The suit for the appointment was brought by Herman Wille and A. M. Elmer, who allege a violation of the charter. The stock of the trust company is practically owned by the stockholders of the suspended German National bank. It is now said the stockholders of the bank will have to be assessed to pay depositors in full. The trust company's capital stock is $200,000.

2. January 21, 1897 The Morning News Savannah, GA
Article from The Morning News, January 21, 1897

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Article Text

A TRUST COMPANY IN TROUBLE. It Was Bound Up With the Defunct German Bank of Louisville. Louisvile, Ky., Jan. 20.-Judge Toney this aftemoon appointed Charles F. Taylor receiver of the Germania Safety Vault and Trust Company. The suit for the appointment was brought by Herman Wille and A. M. Emler, who ailege a violation of the charter. The stock of the trust company is practically owned by the stockholders of the suspended Geman National Bank. It is now said the stockholders of the bank will have to be assessed to pay depositors in ful. The trust company's capital stock is $200,000.

3. January 21, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 21, 1897

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Article Text

NEW YORK MINING STOCKS. Bulwer $9.00 $0 49 Ontario Cholor 1 00 82 Ophir Crown Point 3 00 34 Plymouth 1 00 Con. Cal. & Va. 1 50 Quicksilver Deadwood 11 00 1 00 do pfd 50 40 Sierra Nevada Gould & Curry 1 45 Hale & Norcross. 1 10 Standard Homestake 45 29 00 Union Con Iron Silver 32 30 Yellow Jacket Mexican 42 FOREIGN FINANCIAL. NEW YORK, Jan. 20.-Evening Post's London financial cablegram: The stock markets were dull and inactive today, pending the expected bank rate reduction tomorrow. Opinions as to a reduction to 3½ are evenly divided. It is not likely, however, that the decision either way will have a great effect on the markets. No one here really believed yesterday that gold exports for the year were ikely at once; all the same, shrewd people would not be surprised to see some before long. New York appears to be buying bonds largely and carrying them here. Americans were lifeless and dull and under the New York parity all day. Copper shares were very strong. The Paris and Berlin markets were steady. The stock exchange subscription to the India famine fund reaches nearly £16,000. IN THE HANDS OF A RECEIVER. LOUISVILLE, Ky., Jan. 20.-The Germania Safety Vault and Trust Co. went into the hands of a receiver this afternoon, Charles Taylor being named. The failure was brought about by a suit filed by Herman Wile and E. M. Ealer, who claimed that the trust company did not have invested such funds as were required by law and also that it had on deposit with the German National Bank, now in the hands of Examiner Escott, about $100,000. The plaintiffs ask the appointment of a receiver, and Judge Toney named Mr. Taylor, who at once assumed charge. NEW YORK MONEY. NEW YORK, Jan. 20.-Money on call easy at 21/2@3/4 per cent; last loan 2, closed 1%@2. Prime mercantile paper 31/2@4 per cent. Sterling exchange steady, with actual business in bankers' bills at $4.871/4@1/2 for demand and at $4.843/4@4.85 for 60 days. Posted rates $4.85@1/2. Commercial bills $4.84. Silver certificates 65. Bar silver, 643/4. Mexican dollars, 503/4. BANK CLEARINGS. St. Paul-$376,617.69. Minneapolis-$905,303.73. New York-Clearings, $104,214,888; balances, $6,989,726. Boston-Clearings, $17,988,387; balances, $1,709,673. CHICAGO MONEY. CHICAGO, Jan. 20.-Money steady, unchanged. New York exchange, no market. Foreign exchange, barely steady; demand $4.87%c; sixty days, $4.843/c. TREASURY STATEMENT. WASHINGTON, Jan. 20.--Today's statement of the condition of the treasury shows: Available cash balance, $228,017; gold reserve, $142,539,820.

4. March 10, 1897 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 10, 1897

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Article Text

Business Embarrassments. LOUISVILLE, Ky., March 9.-The Germania Safety Vault and Trust Company made an assignment this afternoon to the Columbia Finance and Trust Company. No schedule of assets and liabilities was filed. The Germania Company went into the hands of a receiver when the German National Bank collapsed, J. H. McKnight being president of both institutions. It was reorganized but was unable to do a paying business. BALTIMORE, March 9.-The safe of the Lexington Savings Bank, a colored people's institution, was opened this afternoon and found to contain $28.72. Net liabilities are about $16,000, $7,800 being due the depositors, who number about 700. The deposits are all small, the largest being $600. Nothing is known of the whereabouts of the colored lawyer, Everett J. Waring, who was president and cashier of the concern. CANTON, O,, March 9.-C. C. Snyder, one of the older business men of the city, engaged in the hardware trade, assigned this morning. Slow collections and general der pression are the cause assigned. The assets are estimated at $60,000; liabilities not estimated. Charles S. Harrison, of Mansfield, O., a nephew, was nominated assignee.

5. March 10, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, March 10, 1897

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Article Text

Louisville Assignment. LOUISVILLE, Ky., March 9.-The Germania Safety Vaulty and Trust company made an assignment this afternoon to the Columbia Finance and Trust company. No schedule of assets and liabilities was filed. The Germania company went into the hands of a receiver when the German National bank collapsed, J. M. McKnight being president of both institutions. It was reorganized, but was unable to do a paying business.

6. March 10, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, March 10, 1897

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Article Text

" " Rah For McKinley." Louisville, Ky., March 9.-The Germania Safety Vault and Trust company made an assignment this afternoon. The failure was caused by the suspension of the German National bank, in which the Trust company was a large depósitor. The capital stock is $200,000. The last statement placed the assets and liabilities at $271,130 each. It is thought that stockholders will realize 50 cents on the dollar.

7. March 14, 1897 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, March 14, 1897

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Article Text

SAFETY VAULT FAILS. Special Wire to Sunday Light. Louisville, Ky., March 13.-The Germania Safety Vault and Trust company has assigned. The failure was caused by the suspension of the German National bank, in which the trust company was a large depositor. The capital stock is $200,000. The latest statement placed the assets and liabilities at $271,136 each. It is thought that stockholders will realize 50 cents on the dollar.

8. March 16, 1897 The River Falls Times River Falls, WI
Article from The River Falls Times, March 16, 1897

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Article Text

Otherwise. The Marblehead is at Pensacola, Fla., to watch filibusters. The attempt to settle the strike at the Globe ship yards at Cleveland, has failed. A long and bitter struggle seems to be in prospect. The Oklahoma divorce of John G. Driscoll has been declared invalid in New York. His wife has been given a decree. A bill "for a press censorship, every paper to have a censor on its staff, is prepared for the consideration of the New York legislature. The directors of the Northwestern road have declared the regular quarterly dividend of 13-4 per cent on preferred stock and payable April 6. Vice Admiral Don George Montt, expresident of Chile, was at Annapolis, Md., to pay a visit of inspection to the naval academy. He was received with ceremony. The Sliger Lumber and Manufacturing Company of Huntington, W. Va., went into the hands of Charles Nash as receiver. The assets exceed $200,000; liabilities unknown. The first of the series of strikes that will probably involve 10,000 mechanics of the building trades was ordered by a committee of the board of walking delegates at New York. The Pioneer and Arctic Iron Mining companies have begun suit at Marquette, Mich., to prevent the sale of their lands within the Negaunee city limits for $4,000 in back taxes. The Germania Safety Vault and Trust company of Louisville, Ky., has made an assignment to the Columbia Finance and Trust company. No schedule of assets and liabilities was filed. The work of making allotments on the Wichita reservation in Kansas will begin at once. Agents Coleman and Mills will be en route Monday morning. The work will occupy about nine or ten months. At Boston District Attorney Sherman Hoar apparently has brought an end to the famous Maverick bank case of six years ago by placing on file indictments found by the United States grand jury in 1891. Within the past few weeks the Iowa Iron Works of Dubuque, that built the Windom and Ericsson, has received letters inviting propositions for the construction of steamers for Alaska, British Columbia and South Africa. The People's Railway company and the Fourth Street & Arsenal company of St, Louis, both of which went into the hands of a receiver Monday, will be reorganized and consolidated by the bondholders. Kelly beat Plimmer in the twentieth round in the fight before the Olympic Club of Birmingham, Eng. After Plimmer had done all the work for nineteen rounds he was knocked out. It was considered a very lucky win. The pool room law as it at present stands upon the statute books of Missouri was declared unconstitutional by the supreme court. The decision holds that the law is invalid because it is class legislation. When the decree of Justice Brewer is amended the Union Pacific Telegraph company will be divorced from the Western Union Telegraph company and will be open to all competitors from Omaha west. Gov. Black of New York has signed the "knock-out drops" bill which makes it a felony for any person other than a licensed druggist or physician to have in his possession or to administer to any person a drug or narcotic. Evan Lewis, the "Strangler," has posted a forfeit of $250 with the Chicago Times-Herald in support of a challenge to wrestle "Farmer" Burns for $500 000 two in three

9. March 17, 1897 The Ely Miner Ely, MN
Article from The Ely Miner, March 17, 1897

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Article Text

OMESTIC. The Lexington savings bank of Ba timore closed its doors. Mr. Cannon, of Illinois, chairman the appropriations committee of tl house, says the appropriations of tl Fifty-fourth congress amounted to $ 043,437,018, which is $49,797,812 mo than the appropriations for the prece ing congress. Jelenke Bros. & Loeb, the largest d partment store in Charleston, W. Va failed for $100,000. The German American bank at Ton wanda, N. Y., which suspended abo ten days ago, has resumed business. The entire village of West Boylsto Mass., is to be destroyed to make wa for new waterworks for Boston. Clara Rawson Jaccard died of starv tion in New York. In two months sl would have inherited $21,000. In Philadelphia Capt. John D. Ha was sentenced to two years in priso and to pay a fine of $500 for taking pa in a filibustering expedition against tl Spanish government in Cuba. It is said that the amount of mone involved in the inaccuracies of the bool of the Brotherhood of Locomotive Fir men while Eugene V. Debs was gran secretary and treasurer is $57,000. The first formal meeting of Preside McKinley's cabinet was held and affai of state were considered, including tl president's message to congress. Leslie Combs, the most noted moo shiner in Kentucky was found dea near Hazard with his throat cut. He said to have killed 50 men. A train struck Orlando Howe an two sons on a trestle near Oliphan Ark., instantly killing Howe and one so and fatally wounding the other boy. A Louisville & Nashville north-bour mail train was held up by six maske men near Calero, Ark., and the € press car was robbed of $10,000. Anderson & Co.'s private bank Pleasant Plains, Ill., was gutted by bu glars. Three persons were killed and or other fatally wounded by a fire in apartment building in Brooklyn, N. The first official order issued by Se retary Wilson, of the department of a riculture, concerns the exportation beef to foreign countries and provid for assurance to foreign purchasers th they receive just what they buy. The will of the late Cornelia V. Thayer, of Lancaster, Mass., bequeat $200,000 to charity. The Youngstown (0.) council pass a curfew ordinance, and at nine o'clo mightly fire-alarm whistles will be blow to warn boys and girls 14 years old ai less to go home. A family by the name of Wilson W drowned in Richland creek near Was ington, Ind., while trying to esca from a flooded house. Damages by a freshet in the vicini of Bedford, Ind., will reach $2,000,00 all the county roads having been wash out and swept away and farm lan truined. At Louisville, Ky., the Germania Saf ty Vault & Trust company made an a signment with liabilities of $271,000. The one hundred and thirteenth se sion of the "Mother" conference Methodism in America came to an en in Baltimore. The great strike of the metall miners of Leadville, Col., which h been in progress since June 19 last, W realled off by the miners' union. The California Mortgage, Loan ar "Trust company at San Diego failed f $200,000. A cyclone a mile wide struck Ralsto O. T., and nearly every house in tow and in the path of the storm was blow

10. March 20, 1897 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, March 20, 1897

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DOMESTIC. The legislature of Indiana adjourned sine die, after having been in session 61 days. Gus Norling, aged 35, a stereotyper at Kansas City, Mo., shot his wife fatally and then killed himself during a quarrel. The Consolidated Building & Saving company in Cincinnati failed for $230,000 Mr. Cannon. of Illinois, chairman of the appropriations committee of the house. soys the appropriations of the Fifty-fourth congress amounted to $1.043.437.018, which is $40,797,812 more than the appropriations for the preceding congress. Jelenke Bros. & Loeb, the largest department store in Charleston, W. Va., failed for $100,000. The German American bank at Tonawanda. N. Y., which suspended about ten days ago, has resumed business. The entire village of West Boylston, Mass., is to be destroyed to make way for new waterworks for Boston. Clara Rawson Jaccard died of starvation in New York. In two months she would have inherited $21,000. In Philadelphia Capt. John D. Hart was sentenced to two years in prison and to pay a fine of $500 for taking part in a filibustering expedition against the Spanish government in Cuba. It is said that the amount of money involved in the inaccuracies of the books of the Brotherhood of Locomotive Firemen while Eugene V. Debs was grand secretary and treasurer is $57,000. The first formal meeting of President McKinley's cabinet was held and affairs of state were considered, including the president's message to congress. Lealie Combs, the most noted moonshiner in Kentucky was found dead near Hazard with his throat cut. He is said to have killed 50 men. A train struck Orlando Howe and two sons on a trestle near Oliphant, Ark., instantly killing Howe and one son and fatally wounding the other boy. A Louisville & Nashville north-bound mail train was held up by six masked men near Calero, Ark., and the express car was robbed of $10,000. Anderson & Co.'s private bank at Pleasant Plains, III., was gutted by burglars. Three persons were killed and one other fatally wounded by a fire in a apartment building in Brooklyn, N. Y. The first official order issued by Secretary Wilson, of the department of agriculture, concerns the exportation of beef to foreign countries and provides for assurance to foreign purchasers that they receive just what they buy. The will of the late Cornelia v. R. Thayer, of Lancaster, Mass., bequeaths $200,000 to charity. The Youngstown (0.) council passed a curfew ordinance, and at nine o'clock nightly fire-alarm whistles will be blown to warn boys and girls 14 years old and less to go home. A family by the name of Wilson was drowned in Richland creek near Washington, Ind., while trying to escape from a flooded house. Damages by a freshet in the vicinity of Bedford, Ind., will reach $2,000,000, all the county roads having been washed out and swept away and farm lands ruined. At Louisville, Ky., the Germania Safety Vault & Trust company made an assignment with liabilities of $271,000. The one hundred and thirteenth session of the "Mother" conference of Methodism in America came to an end in Baltimore. The great strike of the metallic miners of Leadville, Col., which has been in progress since June 19 last, was called off by the miners' union. The California Mortgage, Loan and Trust company at San Diego failed for $200,000. A cyclone a mile wide struck Ralston, O. T., and nearly every house in town and in the path of the storm was blown down. Many persons were wounded. The Western association baseball season will open April 29 and close September 22, making a total of 126 games, The dam in the Genessee river at Mount Morris, N. Y., was washed away by a flood, causing a loss of $100,000.