7363. Western National Bank (Louisville, KY)

View Charter #7457 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
7457
Charter Number
7457
Start Date
August 21, 1905
Location
Louisville, Kentucky (38.254, -85.759)

Metadata

Model
gpt-5-mini
Short Digest
fcb50236

Response Measures

Capital injected, Full suspension, Books examined

Other: Receiver assessment by stockholders (83 1/3% = $250,000) to recapitalize bank and allow reopening.

Description

Articles report 'steady withdrawals' preceding the Comptroller's order to close the bank (Aug 21, 1905) and appointment of a receiver; shareholders were assessed and paid $250,000 to permit reopening in October 1905. Cause of withdrawals tied to overloans, losses and shrinkage of deposits (bank-specific adverse information).

Events (6)
1. October 29, 1904 Chartered
Source
historical_nic
2. August 21, 1905 Receivership
Newspaper Excerpt
Thomas M. Thornton has been appointed receiver.
Source
newspapers
3. August 21, 1905 Run
Cause
Bank Specific Adverse Info
Cause Details
Steady withdrawals driven by impaired capital from losses, overloans and shrinkage of deposits; adverse criticism and declining stock price prompted withdrawals.
Measures
None recorded besides later intervention by Comptroller and appointment of receiver.
Newspaper Excerpt
Steady withdrawals have been made for several days
Source
newspapers
4. August 21, 1905 Suspension
Cause
Government Action
Cause Details
Acting Comptroller ordered the bank closed after examiner found capital badly impaired by losses and insufficient funds to meet demands; to protect depositors.
Newspaper Excerpt
The doors of the Western National bank of Louisville, Ky., were closed this morning by order of the comptroller of the currency.
Source
newspapers
5. October 2, 1905 Reopening
Newspaper Excerpt
The Western National bank ... resumed business today
Source
newspapers
6. August 26, 1909 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (19)
1. August 21, 1905 Albuquerque Evening Citizen Albuquerque, NM
Article from Albuquerque Evening Citizen, August 21, 1905

Click image to open full size in new tab

Article Text

Only About a Year Old. The statement issued by the acting comptroller of the currency says: "An examination of the bank by Bank Examiner Garrett showed its capital badly impaired by losses. Steady withdrawals have been made for several days, and the acting comptroller directed the bank to be closed in order to protect the interests of all depositors alike and prevent those having knowledge of condition from securing preference over those without this knowledge." Thomas M. Thornton has been appointed receiver. The Western National bank was chartered in 1904 to succeed the Western Bank of Louisville. W. B. Smith was president and J. T. Jefferson cashier.

2. August 21, 1905 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, August 21, 1905

Click image to open full size in new tab

Article Text

FAILURES FREQUENT Western National Bank of Louisville, Ky., Has Been Ordered Closed APPOINTED RECEIVER Comptroller of the Currency Takes This Action in Order to Secure Protection for All the Depositors. Washington, D. C., Aug. 21.- The Western National Bank of Louisville, Kentucky, was closed this morning by order of the comptroller of the curreney. The statement issued by the acting comptroller of the currency says: "An examination of the bank by Bank Examiner Garret showed that its capital was badly impaired by losses. Steady withdrawals have been made for several days and the acting comptroller has directed the bank to be closed in order to protect the interests of all its depositors alike, and to prevent those having a knowledge of the conh ditions from securing preference OVa er those without this knowledge" h Thomas M. Thornton has been apin pointed receiver. The Western National Bank was chartered in 1904 to succeed the Western Bank of Louisville. W. B. Smith was the president and T. J. Jefferson the cashier. Failure Has Been Anticipated. Louisville, Ky., Aug. 21.-The failure of the Western National Bank, ordered closed by the federal authorities today, had been anticipated. On May 28th the bank showed a reserve of A only 14 per cent. President T. L. Jefis ferson said the failure was due simK ply to overloads and to shrinkage of ha deposits. bi

3. August 21, 1905 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, August 21, 1905

Click image to open full size in new tab

Article Text

LOUISVILLE BANK BUSTED Washington, Aug. 21-.-The western national bank of Louisville was closed this morning by order of the comptroller of the currency. The statement issued by the comp, troller of the currency says: "An examination of the bank by Bank Examiner Garret showed its capital badly impaired by losses. Steady withdrawals have been made for several days and the acting comptroller directed the bank to be closed in order to protect the interests of all depositors alike and prevent these having a knowledge of conditions from securing preference over those without this knowledge." Thomas M. Thornton will be appointed receiver. The Western National bank was chartered in 1904 to succeed the Western bank of Louisville, W. B. Smith was president, L. J. Jefferson, cashier. Failure Expected. Louisville, Ky., Aug. 21.-The failz ure of the Western National bank, ordered closed by the federal authorities today, had been anticipated. May 29th the bank showed a reserve of, only fourteen per cent. President T. L. Jefferson said the failure was due simply to overloads and to shrinkage of deposits.

4. August 21, 1905 The Providence News Providence, RI
Article from The Providence News, August 21, 1905

Click image to open full size in new tab

Article Text

WESTERN NATIONAL BANK CLOSED BY COMPTROLLER Washington, Aug. 21.-The doors of the Western National bank of Louisville, Ky., were closed this morning by order of the comptroller of the currency. A statement issued by the acting comptroller of the currency says: "Aan examination of the bank by Bank Examiner Garrett showed that its capital was badly impaired by losses. Steady withdrawals have been made for several days and as there was not suft:cient funds on hands or immediately available to meet further demands likely to be made by depositors and other creditors, the acting comptroller directed the bank to be closed in order to protect the interests of all creditors alike, and prevent those having knowledge of the conditions securing preference over those without this knowledge. "Thomas A. Thornton has been appointed receiver. "The Western National bank is comparatively a new association, having been chartered Oct., 1904, as the Western Bank of Louisville. W. B. Smith was president and L. L. Jefferson cashier of the bank."

5. August 21, 1905 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, August 21, 1905

Click image to open full size in new tab

Article Text

BANK WAS CLOSED. Comptroller of the Currency Takes a Hand. Washington, Aug 21.-The doors of the Western National bank of Louisville, Ky, were closed this morning by order of the comptroller of the currency. A statement issued by the acting comptroller of the currency says: "An examination of the bank by Bank Examiner Garrett showed that its capital was badly impaired by losses, Steady withdrawals have been made for several days, and as there was not sufficient funds on hand or immediately available to meet further demands likely to be made by depositors and other creditors, the acting comptroller directed the bank to be closed in order to protect the interests of all creditors alike and prevent those having knowledge of the conditions securing preference over those without this knowledge. "Thomas M. Thornton has been appointed receiver. "The Western National bank is comparatively a new association, having been chartered October 29, 1904, to succeed the Western bank of Louisville. W. B. Smith was president/and T. L. Jefferson cashier of the bank." The following is a statement of the resources and liabilities of the bank as shown by the last report of condition, May 29, 1903: "Resources, loans and discounts, $1,299,324; overdrafts, $5,211; U. S. bonds secure circulation, $50,000; stocks, securities, etc. $10,095; banking house and other real estate, $26,044; due from banks and bankers, $234,781; cash and cash items, $74,932; redemption fund, $2,500; total, $1,724,889. Liabilities, capital stock, $300,000: undivided profits, $7,143; circulation, $50; due to banks and bankers, $250.413; deposits. $1,070,810; notes and bills re-discounted, etc, $36,522; total, $1,724,889.

6. August 21, 1905 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, August 21, 1905

Click image to open full size in new tab

Article Text

From Washington. [Correspondence of the Alexandria Gazette.] The Western National Bank, of Louisville, Ky., was closed today by direction of the acting Comptroller of the Currency. An official statement issued by the latter says: "An examination of the bank by Bank Examiner R. D. Garrett showed that its capital was badly imparied by losses. Steady withdrawals have been made for several days and as there were not sufficient funds on hand or immediately available to meet further demands likely to be made by depositors and other creditors, the acting comptroller directed the bank to be closed in order to protect the interest of all creditors alike and prevent those having knowledge of conditions securing preference over those without knowledge. Thomas M. Thornton has been appointed receiver. Mr. Thornton is an experienced man in this line of work and has been connected with the Comptroller's office for several years in the capacity of receiver. The Western National Bank is comparatively a new association, having been chartered October 29, 1904, to succeed the Western Bank of Louisville, W. B. Smith was president and T. L. Jefferson cashier of the bank. The resources and liabilities of the bank as shown by the last report of condition May 29, 1905, were $1,724,889.30 each; capital stock, $300,000; loans and discounts $1,299,234.20; deposits, $1,070,810.06; circulation, $50,000." With typhoid fever epidemic in several cities, the Department of Agriculture has received a number of requests from health authorities and citizens to purify water supplies in their cities by the use of copper sulphate. While the experiments carried on during the last two or three years demonstrate to the experts in the department that copper sulphate will destroy the typhoid fever bacilli without harmful results, the department is not in a position to respond to the calls for assistance. These requests are answered by referring the writers to individuals outside the government. who have made a study of the work and who undertake the work under contract. It is stated at the department that experiments show that the copper sulphate treatment of water has no effect on the spread of yellow fever. A number of investigations into the use of copper sulphate in reservoirs and rivers are now being made. A supplementary report on the quantity of cotton ginned from the crop of 1904 was made to the acting director of the census by W. M. Stewart, the chief statistician for manufactures, today. According to the report 95,497 bales were ginned in excess of the estimates published in April, 80 that the growth of 1904 is therefore fixed by the ginners at 13,693,279 bales, counting round as half bales, instead of 13,597,782. Secretary of the Navy Bonaparte today received the report of the Board of Inquiry, which investigated the causes of the disaster which resulted in the blowing up of the gunboat Bennington and the killing of many of its crew. He im. mediately began its perusal, but declined to make any parts of its public, or to discuss it at this time. It will be made public later. Surgeon GeneralfWyman, of the hosnital service, received today (a report from Past Assistant Surgeon Goldberger on the yellow fever conditions at Alexandria, La. No new cases have develoved there, 80 the report says, and fumigation is being carried on by a house to house canvas. Surgeon Goldberger is in advisory control of the city.

7. August 22, 1905 The Sun New York, NY
Article from The Sun, August 22, 1905

Click image to open full size in new tab

Article Text

LOUISVILLE BANK IS CLOSED. COMPTROLLER FINDS WESTERN NATIONAL IMPAIRED. President Says Depositors will Be Paid in Full, Although the Institution Has Suffered Heavtly-Stock Fell From $107 to 835 a Share Before Break Came. WASHINGTON, Aug. 21.-The Western National Bank of Louisville, Ky., was closed by the orders of the acting Comptroller of the Currency, and Thomas M. Thornton has been appointed receiver. An examination of the bank by Bank Examiner Garrett showed that its capital has been badly impaired by losses. Steady withdrawals have been made for severaldays. and as there were not sufficient funds on hand or immediately available to meet further demands likely to be made by depositors and other creditors the acting Comptroller directed the bank to be closed in order to protect the interests of all creditors alike and to prevent those having knowledge of conditions securing preference over those without knowledge. The Western National Bank is comparatively a new institution, having been chartered on Oct. 19, 1904, to succeed the Western Bank of Louisville. W. B. Smith is cashier and T. L. Jefferson president of the bank. The following is a statement of its resources and liabilities as shown by the last report of condition May 29, 1905: Resources-Loans and discounts, 1,299,324; overdrafts, $5,211; U. S. bonds, secure circulation. $50,000; stocks, securities, &c., $10,095; banking house and other real estate $28,045; due from banks and bankers, cash and cash items, $74,938; redemption; fund, $2,500; total, $1,724,889. Liabilities-Capital stock. $800,000; undivided profits, $7,143; circulation, $50,000; due to banks and bankers $260,414: deposits, $1,070,810; notes and bill rediscounted, &o., $36,522; total, $1,724,889. LOUISVILLE, Ky., Aug. 21.-The Western National Bank, 300 West Market street, was closed this morning by order of the Comptroller of the Currency on the report of the affairs of the bank as made by Bank Examiner R. D. Garrett, who has been at work on the books of the bank for several days. The closing of the bank has been anticipated in financial circles for several months. and the report does not come as a surprise. Mr. Garrett declined to give out a statement relative to the condition of the bank's affairs beyond the statement made to President T. L. Jefferson that its condition was such that suspension was the best thing possible. The first intimation of serious trouble came in the sudden slump of the bank's stock on the local market from 107 to 90, about three weeks ago. The stock then slowly declined until last week, when it sold down to $35 a share. Later, however, on the arrival of the bank examiner, the stock rose to $41 a share in the expectation that the bank would be able to pull out of the hole. The last statement of the bank, made on May 29 on the call of the Comptroller, also gave an indication that things were not in the best condition, the bank showing a reserve of about 14 per cent. of its deposits. This was below the Government requirement of 25 per cent. When this fact came to the notice of the Comptroller of the Currenov word was sent to the bank to build up its reserves. President Jefferson said this morning: "Beyond the fact that the Comptroller has ordered the bank closed I can say nothing. We have received no detailed report from the bank examiner and are unable to give out any figures at present. Our last statement, made on May 29, showed our reserves pretty low. The cause of our trouble was simply overloans and shrinkage in deposits. Ever since we made our last statement there has been considerable adverse criticism about the bank, and our deposits slowly dwindled away. However, 1 am glad to see it over. The work has been heavy. I expect to go to work again, however. with a view to straightening matters out. I think we shall be able to open in a short time. You can say this, that there is no doubt depositors will be paid in full.'

8. August 22, 1905 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, August 22, 1905

Click image to open full size in new tab

Article Text

BANK ORDERED CLOSED. Comptroller Acts Quickly In Case of Louisville, Ky. Bark. Washington, Aug. 21.-The doors of the Western National Bank of Louisville, Ky., were closed. this morning, by order of the comptroller of the currency, A statement issued by the acting comptroller of the currency says: "An examination of the bank by Bank Examiner Garrett showed that its capital was badly impaired by losses. Steady withdrawals have been made for several days, and as there was not sufficient funds on hand or immediately available to meet further demands likely to be made by depositors and other creditors, the acting comptroller directed the bank to be closed. in order to protect the interests of all creditors alike and prevent those having knowledge of the conditions securing preference over those without this knowledge. "Thomas A. Thornton has been appointed receiver. "The Western National Bank is comparatively a new association having been chartered Oct. 29. 1904. to succeed the Western Bank of Louisvile. W. B. Smith was president, and L. L. Jefferson, cashier of the bank." The following is a statement of the resources and liabilities of the bank as shown by the last report of condition, May 29, 1905: Resources-Loans and discounts, $1.299,324: overdrafts, $5211; United States bonds secure circulation, $50,000; stocks, securities, etc., $10,095; banking house and other real estate, $28,044; due from banks and bankers, $254,781; cash and cash items, $74,932: redemption funds, $2500: total, $1.724.889. Liabilities-Capital stock. $300,000; undivided profits, $7143; circulation, $50.000; due to banks and bankers, $260,413; deposits, $1,070,810; notes and bills rediscounted, etc., $36,522. Total, $1,724,889.

9. August 22, 1905 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, August 22, 1905

Click image to open full size in new tab

Article Text

LOUISVILLE BANK IS COMPELLED TO CLOSE Comptroller of the Currency Finds Western National in Bad Shape. WASHINGTON, Aug. 21.-The doors of the Western National Bank of Louisville, Ky., were closed this morning by order of the Comptroller of the Currency. A statement issued by the acting Comptroller of the Currency says: "An examination of the bank by Bank Examiner Garrett showed that its capital was badly impaired by losses. Steady withdrawals have been made for several days, and as there was not sufficient funds on hand or immediately available to meet the demand likely to be made by the depositors and other creditors the acting Comptroller directed the bank to be closed in order to protect the interests of all depositors alike and prevent thos having knowledge of the conditions securing preference over those without this knowledge. "Thomas M. Thornton has been appointed receiver." The Western National Bank is comparatively a new institution, having been chartered in 1904 to succeed the Western Bank of Louisville. W. B. Smith was president and T. J. Jefferson cashier of the bank. LOUISVILLE, Ky., Aug. 21. -The failure of the Western National Bank of this city, ordered closed by the Federal authorities to-day, had been anticipated. On May 29 the bank showed a reserve of only 14 per cent, and its business had fallen off steadily since then. President T. L. Jefferson of the bank in a statement says the failure is due simply to overloads and shrinkage in deposits.

10. August 22, 1905 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, August 22, 1905

Click image to open full size in new tab

Article Text

LOUISVILLE BANK FAILS Capital Badly Impaired dy Losses. Receiver Appointed Washington, Aug, 21.-The doors of the Western National bank of Louisv lle' Ky., were closed this morning by order of the comptroller of the currency. A statment issued by the acting comptroller of the currency says: "An examination of the bank by Examiner Garrett showed that its captial was badly impaired by losses. Steady withdrawals have been made for several days and as there was not sufficient funds on hand for immediate available to meet furthur demands likely to be made by the depositors and other creditors, the acting comptroller directed the bank to be closed in order to protect the interests of all depositors alike and to prevent those having knowledge of conditions securing preferance over those without this knowledge."

11. August 22, 1905 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, August 22, 1905

Click image to open full size in new tab

Article Text

COMPTROLLER CLOSES BANK AT LOUISVILLE Receiver Is Appointed for the Western National, Whose Capital Proves to Be Badly Impaired By Associated Press. WASHINGTON, Aug. 21.-The doors of the Western National bank of Louisville, Ky., closed this morning by order of the comptroller of the currency. A statement issued by the acting comptroller says: "An examination of the bank by Bank Examiner Garrett showed that its capital was badly impaired by losses. Steady withdrawals have been made for several days, and as there were not sufficient funds on hand or immediately available to meet the demand likely to be made by the depositors and other creditors the acting comptroller directed the bank to be closed in order to protect the interests of all depositors alike and prevent those having knowledge of the conditions from securing preference over those without this knowledge. Thomas M. Thornton has been appointed receiver." The Western National bank is comparatively a new institution, having been chartered in 1904 to succeed the First National bank of Louisville. W. B. Smith was president and T. J. Jefferson cashier of the bank. On May 29 it showed a reserve of ony 14 per cent and its business has fallen off steadily since then. Cashier T. J. Jefferson says the failure is due simply to overloads and shrinkage in deposits.

12. August 23, 1905 Gainesville Daily Sun Gainesville, FL
Article from Gainesville Daily Sun, August 23, 1905

Click image to open full size in new tab

Article Text

LOUISVILLE BANK FAILS. Western National Closed by Order of Comptroller of Currency. Washington ,August 22.-The doors of the Western National Bank, Louisville, Ky., were closed this morning by order of the comptroller of the currency. A statement issued by the acting comptroller of the currency says: "An examination of the bank by Bank Examiner Garrett showed that its capital was badly impaired by losses. Steady withdrawals have been made for several days and there was not sufficient funds on hand or available to meet further runs likely to be made by depositors and other creditors. the acting comptroller directed the bank to be closed in order to protect the interests of all creditors alike and prevent those having knowledge of conditions securing preference over those without the knowledge. "Thomas W. Thornton has been appointed receiver." The Western National bank is comparatively a new association, having been chartered Oct. 29, 1904. to succeed the Western Bank of Louisiville. W. B. Smith was president, and T. J Jefferson. cashier. The deposits in the bank amounted to $1,070,810.

13. September 8, 1905 The Paducah Sun Paducah, KY
Article from The Paducah Sun, September 8, 1905

Click image to open full size in new tab

Article Text

AN ASSESSMENT Must Be Paid Before the Western Bank Can Reopen. Louisville, Ky., Sept. 8.-The directors of the Western National bank have been notified by the receiver, Thomas W. Thornton, that the stockholders of the bank will be required to pay an assessment to meet the demands of the creditors of the bank. What the amount of the assessment will be has not as yet been

14. September 16, 1905 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, September 16, 1905

Click image to open full size in new tab

Article Text

TOBACCO MEN'S TROUBLES. Courts Take Hand in Their Finances at Louisville. Louisville, Ky., Sept. 15.-John W. Brown, a member of the tobacco rehandling firm of Martin, Martin & Co., today filed a voluntary petition in bankruptcy in the United States Court here. He asks that he be discharged from the court of his Individual obligations and also of his debts as a member of the firm of H. N. Martin & Co. The total liabilities are given at $183,694 and the assets at $215,593, including life Insurance policiies for $12,000. The usual exemptions are asked. The chief creditor, according to the schedule filed with the petition, is the Western National Bank, which was recently closed by order of the Controller of the Treasury, and which held stock in H. N. Martin & Co., valued at $7,800, and had loaned money to E. H. Hall of this city, D. Reed of Lexington, H. N. Martin & Co., and A. T. Herr of San Francisco on notes indorsed by the petitioner, bringing the total to $39,515. The Southern National Bank is named as a creditor for $22,350. The Citizens National Bank is a creditor to the extent of $28,000. This Includes $12,500 stock in H.N. Martin & Co. John K. Gilliat & Co. of London, Eng., is a creditor for $11,000 advanced on tobacco. The National Bank of Kentucky is a creditor for $9,600, and the Fidelity Trust Company, also of Louisville, Is named for $5,000. Smaller sums are due creditors in Nashville, Tenn., and in several towns in Kentucky. The firm of Martin, Martin & Co. is composed of John W. Brown, J. R. Martin and M. T. Martin. It is an entirely different concern from H. N. Martin & Co., for whom W. S. Loogan today asked the appointment of a receiver. I W. S. Logan filed a petition today I asking the State Court to appoint a receiver for H. N. Martin & Co., tobacco manufacturers, alleging that the defendant is hopelessly insolvent. The plaintiff says the assets of the defend1 ant amount to $105,500, which includes I $65,000 worth of tobacco in hogsheads and $32,000 worth of accounts. It is charged furher that the defendant is in debt to the Western National Bank, National Bank of Kentucky, First National Bank, German Insurance Bank $ and Third National Bank to the extent I of $87,000; to Hugh Martin for $12,000, 1 and other creditors about $22,000, maktotal says deIng The a plaintiff alleged liability that all of of $131,000. the fendant's tobacco accounts have been to this of was to mortgaged pledging accounts the banks and in that fraud a other creditors for the purpose of preferring the banks. The basis of the plaintiff's suit is a $2,000 loan. The creditors are named as defendants.

15. September 18, 1905 Evening Star Washington, DC
Article from Evening Star, September 18, 1905

Click image to open full size in new tab

Article Text

WILL REQUIRE ASSESSMENT. Proposed Resumption of Business by a Louisville Bank. Mr. T. L. Jefferson, lately president of the Western National Bank of Louisville, Ky., with Mr. John Bryce Baskin, his attorney, and Mr. Thomas M. Thornton, receiver of the bank, today presented to the controller of the currency their plan for the bank's rehabilitation. After careful investigation the controller found that an assessment of 83 1-3, per cent on the shareholders would completely restore the capital of the bank, and stated that when the sum of $250 is paid to the receiver for that purpose the bank will be permitted to resume business. It is confidently expected that the money will be paid and the bank reopened in its new banking house, corner of Market and 3d streets, about the 1st of October.

16. September 19, 1905 The Paducah Sun Paducah, KY
Article from The Paducah Sun, September 19, 1905

Click image to open full size in new tab

Article Text

WESTERN NATIONAL Will Probably Open Again Early in October. Washington, Sept. 19.-At the controller's office It was announced that the Western National bank, of Louisville, probably will resume business early in October, all embarrassing obstacles to resumption having been cleared away. The following formal statement was given out for publication: "Mr. T. L. Jefferson, late president of the Western National bank, of Louisville, with Mr. John B. Baskin, his attorney, and Mr. Thomas M. Thornton, receiver of the Western National bank, of Louisville, today presented to the controller of the currency their plan for the rehabilitation of that bank. "After careful Investigation, the controller found that an assessment of eighty-three and one-third per cent. on ithe share-holders would completely restore the capital of the bank and stated that when the sum of $250,000 is paid to the receiver for a purpose the bank will be permitted to resume business. "It is confidently expected that the money will be paid and the bank reopened in its new banking house, corner of Market and Third streets, about the first of October."

17. October 2, 1905 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, October 2, 1905

Click image to open full size in new tab

Article Text

WESTERN NATIONAL BANK RESUMES. (By Associated Press.) Louisville, Ky, Oct. 2-The West. erg Nat onal bank of this city, which has been closed for some time resumed business today Comptroller of the currency department at Washington consented to have the stockholders of the institution taxed 83 per cent, to the amount of $250,000, which was paid to the receiver so that the bank could resume business.

18. October 4, 1905 The Paducah Sun Paducah, KY
Article from The Paducah Sun, October 4, 1905

Click image to open full size in new tab

Article Text

Western Bank Reopens Oct. 16. Louisville, Ky., Oct. 4.-October 16 has been set as the time for the opening of the Western National bank in the new quarters at Third and Market streets. The $250,000 necessary to resumption has been paid over, and Receiver Thornton is now arranging the affairs of the bank so that he can turn them over to the stockholders on or before that date. When the bank begins business t will have about $500,000 in cash in its coffers.

19. October 20, 1905 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, October 20, 1905

Click image to open full size in new tab

Article Text

The Indemnity Savings and Loan company is the concern against which Attorney General Ellis began quo warranto proceedings in the circuit court on Saturday last with a view of preventing the company from continuing business in this state. The attorney general charged that the company had violated the state banking laws. H. R. Sanborn, who is named as.assignee, is the president of the company. Officers of the institution declare that it is absolutely solvent and that depositors can readily be paid in full. They also state that the attorney general's action was without due cause. The bank had, when it's last statement was issued, in June of this year, assets and liabilities amounting to $1,392,681. The deposits were then $688,661. The bank will resist the attempt to take away its charter and today filed a motion in circuit court to quash the summons of Attorney General Ellis. LOUISVILLE, Ky., Oct. 16.-The Western National bank, which was closed several weeks ago, on orders from the comptroller's office, reopened for business today under favorable auspices. NEW ORLEANS, La., Oct. 16.-The run on the Germania Savings bank has entirely ceased.