7397. First National Bank (Newport, KY)

View Charter #2276 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
2276
Charter Number
2276
Start Date
January 18, 1897
Location
Newport, Kentucky (39.091, -84.496)

Metadata

Model
gpt-5-mini
Short Digest
57ad1ada

Response Measures

Full suspension, Books examined

Other: Cashier arrest and embezzlement prosecution followed; receiver paid depositors in full later (directors raised funds).

Receivership Details

Depositor recovery rate
87.5%
Date receivership started
1897-01-21
Date receivership terminated
1909-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
25.2%
Share of assets assessed as doubtful
42.4%
Share of assets assessed as worthless
32.4%

Description

The First National Bank of Newport did not open Jan 18, 1897; crowd of depositors and heavy withdrawals preceded/accompanied the closure. Evidence later shows cashier T. B. Youtzey (Youtsey) misappropriated funds and examiners/receiver took charge; depositors were later paid by receiver. Classified as run → suspension → permanent closure/receivership.

Events (6)
1. June 15, 1875 Chartered
Source
historical_nic
2. January 18, 1897 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals and depositor panic amid reports of recklessness/poor management by cashier Youtzey and lack of ready cash; later discovered misappropriation by cashier.
Measures
Officers sent out word that the bank was solvent; bank closed and examiners/Comptroller called in.
Newspaper Excerpt
The First National Bank, of Newport, Ky., did not open its doors this morning ... a crowd of excited depositors assembled in front of the bank, clamoring for an explanation.
Source
newspapers
3. January 18, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed for lack of ready money following heavy withdrawals and alleged recklessness by cashier Youtzey; examiners ordered/assumed control for investigation.
Newspaper Excerpt
The First National bank of Newport has closed its doors. The bank will be reorganized. ... The officials sent out word that the bank was solvent, but had been forced to close for lack of ready money.
Source
newspapers
4. January 21, 1897 Receivership
Source
historical_nic
5. January 31, 1897 Receivership
Newspaper Excerpt
Examiner Tucker completed his work at the defunct First National bank in Newport, Ky., yesterday, and tomorrow Receiver Willis will be in charge. The clerical force of the bank will remain with the receiver.
Source
newspapers
6. April 1, 1897 Other
Newspaper Excerpt
Receiver Wilshire, of the First National bank of this city, which was closed several weeks ago, has announced that on next Thursday, April 1 he will pay all depositors in full, the directors having raised the necessary $200,000.
Source
newspapers

Newspaper Articles (24)
1. January 18, 1897 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, January 18, 1897

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f BANKS STILL GOING UNDER 8 Two Banks Close Their Doors in Kene tucky To-day. One at Louisville, t the Other at Newport. MINNESOTA SAVINGS BANK ASSIGNS e Boston Stock and Grain Exchange, e with Many Branch Offices Throughout the East, is Forced to Close. e Louisville, Ky., Jan. 18.-National Bank Examiner Escott this morning closed the f German National bank, of which M. McKnight is president. Its capital is $261,500, with a surplus of $31,000. The bank is an old one, but for some time hns been regarded as uneafe. In a signed state. ment President McKnight says depositors will be paid in full and the stockholders will probably reorganize the institution. The last statement issued by the bank was on December 17, 1896, and made A very bad showing. The 25 per cent rule had been violated by about 8 per cent. Under the head of resources, it was given out that the bank held $113,025 in securities, stocks, etc. This was very unsatisfactory as "eto." was not considered definite enough and since the statement was issued withdrawals have been steady. President McKnight has been engaged in a number of financial operations. COULDN'T MEET DEMANDS. St. Paul, Minn., Jan. 18.-The Minnesota State Saving banks closed this morning and filed a deed of assignment naming Wm. Bickel as assignee. An affidavit was filed stating that the assets would amount to about $250,000, while the liabilities are in the neighborhood of $230,000. The officers of the bank deemed this step the best under the circumstances to protect the depositors. The recent flurry in banking affairs caused the with drawal of deposits to such an extent that although the bank required sixty days notice it was unable to raise money to meet the demands. STOCK EXOHANGE FAILURE. Boston, Mass., Jan. 18.-The Boston Stock and Grain exchange, with offices in nearly all principal New England cities, closed up business to-day. Creditors will not suffer, it is said. A SURPRISE FAILURE. Newport, Ky., Jan. 18.-The failure of the First National bank of Kentucky to 0 open its doors this morning was a surprise to business. While a statement was F given out by the officers that no one would lose anything, there were all sorts of rumors floating about. The first evidence of weakness was the refusal of officers Saturday afternoon to pay $5,000 to Treasurer Bellue, of the school board, b which was recently deposited. Its capital stock is $200,000. Its president, John Trapp, who was elected last fall in place of Henry Jenkel who retired on account of advanced years, is a resident of Dayton, Ky., and one of the wealthiest men in that part of the country. George Youtzey, brother of the cashier of the First National bank, assigned indih vidually to the Covington Trust comd pany. The Standard Carriage Supply company, of which George Youtzey was li president, also assigned. The capital I stock of the Standard company is $50,i 000. The assets and liabilities of the p Standard company are not given. P The directors of the bank were in session all day Saturday, on which day the bank opened with only $7,500 in its t vaults. At that meeting Cashier Youtzey 8 resigned and his resignation was promptc ly accepted. Banks in Covington agreed, t Saturday, to loan the bank $60,000, but later the proposition was declared off.

2. January 19, 1897 The Sun New York, NY
Article from The Sun, January 19, 1897

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TWO KENTUCKY BANKS FAIL. The German National of Louisville and the First National of Newport. LOUISVILLE. Ky., Jan. 18.-The German National Bank, at First and Market streets. did not open its doors for business this morning. and the announcement was made that the institution was in the hands of Bank Examiner James E. Scott. The capital stock is $251,500. with a surplus of $31,000. J. M. McKnight is President. The bank has been in a shaky condition for three years, owing to the failure of the Louisville Deposit Bank, by which it lost $75,000. and there are also lawsuits involving between $250,000 and $300,000 pending. growing out of the bank's connection with the failure. Since the first of the year $75,000 in deposits have been withdrawn and several days ago Bank Examiner Escott began an investigation. On Saturday he telegraphed the result to the Comptroller of the Currency, and the order came for the bank to be closed at once. President McKnight says depositors will be paid in full. The bank has on hand, $60,000 in cash. The deposits subject to check are about $255,000. There are also certificates of deposit for $60,000. Mr. McKnight hopes to have the bank reorganized and ready for business in fifteen days. CINCINNATI. Jan. 18.-The First National Bank of Newport, Ky., closed its doors this morning. The news spread rapidly and soon there was a crowd of excited depositors assembled in front of the bank clamoring for an explanation. The officers sent out word that the bank was solvent, but had been forced to close down for lack of ready money. Assurances were offered that no one would lose anything. The depositors, however. refused to be satisfied. The excitement grew still greater when it became known that Comptroller of the Currency Eckels and a National Bank Examiner of Washington were to be in Newport to-day. A late and rather startling development is that Mr. John Trapp, ex-Sheriff of the county. who was elected President of the bank a week ago to succed Dr. Gunkel. who precipitately resigned. refused to accept the office unless the bank's affairs were thoroughly investigated. It seems that C. W. Nagel, who was elected to succeed Yontsey as cashier. had made sufficient investigation himself to warrant him in warning his friend Trapp that all was not as it should be. Therefore the bank had been without a President for nearly a week. Every bank in Covington, which adjoins Newport, had to meet a run to-day as best it could on short notice. Citizens rushed to their places of deposit by the hundreds as soon as they heard the news that the First National had not opened its doors in the morning and drew their savings. Many heavy depositors were among these. The Third National Bank was the New York correspondent of the Germania National Bank of Louisville. The Germania Bank owes it $13,000. and the loan is fully protected by collateral. The First National Bank was the New York correspondent of the First National of Newport. At the New York bank it was said that the Newport bank had a small balance there.

3. January 19, 1897 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, January 19, 1897

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KENTUCKY BANKS SUSPEND. One of Them at Louisville-The Other at Newport. LOUISVILLE, KY., January 18.-The German National Bank, at First and Market streets, did not open its doors for business this morning, and an announcement was made that the institution was in the hands of Bank-Examiner James E. Scott. The capital stock is $251,500. with a surplus of $31,000. J. M. McKnight is the president. The bank has been in a shaky condition for three years, owing to the failure of the Louisville Deposit Bank, by which it lost $75,000, and there are also between $250,000 and $200,000 worth of lawsuits pending, growing out of the bank's connection with that failure. Since the first of the year $75,000 in deposits have been withdrawn, and several days ago Bank-Examiner Escott began an invéstigation. Saturday he wired the result to the Comptroller of the Currency, and an order came for the bank to be closed at once. President McKnight says the depositors will be paid in full. The bank has on hand $50,000 in cash. The deposits subjeet to check are about $205,000. There are also certificates of deposit for $60,000. Mr. McKnight hopes to have the bank reorganized and ready for business in fifteen days. DEPOSITORS EXCITED. CINCINNATI, O., January 18.-The First National Bank, of Newport, Ky., did not open its doors this morning. The news spread rapidly, and soon there was a crowd of excited depositors assembled in front of the bank, clamoring for an explanation. The officials sent out word that the bank was solvent, but had been forced to close for lack of ready money. Assurances were offered that no one would lose anything. The depositors, however, refused to be satisfied. Ugly rumors found expression, and the excitement grew still greater when it became known that Comptroller-of-the-Currency Eckels and a national-bank examiner from Washington were to be in Newport to-day. The capital stock of the bank is $200,000. John Trapp is the president. The bank will be reorganized. The deposits are about $370,000. and the depositors will be paid in full. Director Charles Spinks says the bank closed because of the recklessness of Cashier Yautsey and Director McCracken. STARTLING DEVELOPMENT. NEWPORT, KY., January 18.-A late and rather startling development is that Mr. John Trapp, ex-Sheriff of the county, who was elected president of the bank a week ago, to succeed Dr. Gunkel, who precipitately resigned, refused to accept the office unless the bank's affairs were thoroughly investigated. It seems that C. W. Nagel, who was elected to succeed Youtsey as cashier. had made a sufficient investigation himself to warrant him in warning his friend Trapp that all was not as it should be. Therefore, the bank had been without a president for nearly a week. Every bank in Covington, which adjoins Newport, had to meet a run today as best it could on short notice. Citizens rushed to their places of deposit by the hundred as soon as they heard the news that the First National had not opened its doors in the morning, and drew their savings. Many heavy depositors were among those on the run.

4. January 19, 1897 Morning Appeal Carson City, NV
Article from Morning Appeal, January 19, 1897

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Three Banks Fail Newport, Ky., Jan 18.-The First National Bank failed to open this morning to the surprise of the business men. A run is anticipated on other banks. Louisville, Ky., Jan 18.-The Ger man National Bank was closed today by the National Bank Examiner. The capital is $270,000. St. Paul, Jan 18.-The Minnesota State Savings Bank closed this mornidg.

5. January 19, 1897 The Roanoke Daily Times Roanoke, VA
Article from The Roanoke Daily Times, January 19, 1897

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THE CROWD WAS CLAMOROUS. The First National Bank of Newport Closes Its Doors., Cincinnati, Jan. 18.-The First National Bank, of Newport, Ky., did not open its doors this morning The news spread rapidly and soon there was it crowd of excited depositors assembled in front of the bank elamoring for an expla nation. The officials sent out word that the bank was solvent, but had been forced to close down for the want of ready cash. The depositors, however, refused to be satisfied. Ugly rumors found expression, and the outery became still greater when it became known that Comptroller of the Currency Eckels and a national "bank examiner of Washington were to be in Newport to-day. The capital of the bank is $200,000. A late and rather startling fact developed is that Joseph Trapp, sheriff of this county, who was elected president of this bank a week ago, persistently refused to take charge until the bank was thoroughly investigated. Every bank in Covington, which adjoins Newport, had to meet a run to-day on short notice. Citizens rushed to their banks of deposit by the hundreds as they had heard of the news.

6. January 19, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 19, 1897

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BUSINESS TROUBLES. Heavy Real Estate Investments Ruin a Kentucky Bank. NEWPORT, Ky., Jan. 18.-The First National bank closed this morning. Heavy investments in real estate in this city is one cause given. The integrity of the officers is such that no suggestion of wrong found credence. Cashier T. B. Youtzey has been at the bank since its organization in 1875. President John Trapp, who was elected last fall, is a resident of Dayton, Ky., and one of the wealthiest men in the county. The directors were in session all day Saturday, on which day the bank opened with only $7,500 in its vaults. At the meeting Cashier Youtzey resigned and his resignation was promptly accepted. CINCINNATI, Jan. 18.-No excitement was created in Cincinnati by the Newport bank failure. Most of the banks here claim to have known that the bank has been in straightened circumstances for some time. It is said that President John Trapp, who was elected president Isat week, is sick at home in consequence of the failure and cannot be seen. Cashier Youtzey is also indisposed, and in fact, none of the officers can be seen. Mr. Trapp is said to have a deposit of $15,000, in the bank, to hold $11,000 of the stock and to be indorser for Cashier Youtzey to the amount of $60,000. Congressman Berry also has a large interest in the bank, being interested with the cashier in a land company. It is charged that heavy loans to Youtzey are among the causes of the failure. LOUISVILLE, Jan. 18.-The German National bank closed today. The capital stock is $261,500, with a surplus of $31,000. The bank has long been considered unsafe. President McKnight says depositors will be paid in full and the bank reorganized. BOSTON, Jan. 18.-The Boston stock and grain exchange has closed. ST. PAUL, Jan. 18.-The Minnesota Savings bank closed tais morning. The assets amount to about $250,000; liabilities, $230,000. The bank had on deposit $10,000 of the city of St. Paul and $2,200 of the funds of Ramsay county. NEW YORK, Jan. 18.-The failure of Louis Nielson has been announced through the Consolidated stock exchange. The suspension is considered unimportant and is attributed to short Sugar and St. Paul. CHICAGO, Jan. 18-The Illinois Paper Company went into the hands of a receiver today. The assets are about $65,000; liabilities, $60,000.

7. January 19, 1897 Evening Journal Wilmington, DE
Article from Evening Journal, January 19, 1897

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TELEGRAPHIC BREVITIES. The Earl of Kimberly was chosen leader of the Liberal party for the house of lords. Seven persons have been killed by asphyxiation in Boston during the last 48 hours. The trial of Edward J. Ivory as an Irish dynamite conspirator began in the Old Bailey in London. The Countess de Castellane, formerly Anna Gould of New York, became the mother of a son at her home in Paris. The bubonic plague, which is ravaging the city of Bombay, is growing worse daily; 2,592 deaths have been reported. The Minuesoto Savings bank of St. Paul suspended owing to inability to obtain sufficient ready money to meet withdrawals. Two national banks failed in Kentucky -the German of Louisville and the First of Newport-owing, it is alleged, to poor management. Mrs. Delia Hoffman of West Hoboken, N J., was murdered in her bed. She had been hacked three times on the skull with an ax. The ax was found lying across her breast. Richard Hoffman, her son, and John Engelbrocht, a boarder, discovered the murder. They have been arrested on suspicion, but deny all knowledge of the murder.

8. January 20, 1897 The Morning News Savannah, GA
Article from The Morning News, January 20, 1897

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FOLLOWING THE BANK FAILURE. A Cincinnati House Closed on Account of the Newport Bank. Cincinnati, O., Jan. 19.-J. H. & Leonard Shaffer & Co., commission merchants, assigned to-day as a result of the First National Bank of Newport failure yesterday. The liabilities and assets are not large. The other Newport banks were not subjected to runs to-day, but had they been, would have easily met every demand on them.

9. January 20, 1897 The Roanoke Daily Times Roanoke, VA
Article from The Roanoke Daily Times, January 20, 1897

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A CINCINNTATI FAILURE. Cincinnati, Jan. 19.-J. H. and Leonard Shaffir & Co., commission merchants. as. signed to-day as a result of the failure of the First National Bank, of Newport, yesterday. Liabilities and assets not large. The other two Newport banks were not subject to runs to-day.

10. January 21, 1897 River Falls Journal River Falls, WI
Article from River Falls Journal, January 21, 1897

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BANK SUSPENSIONS. Weaker Financial Concerns in Various Places Go to the Wall. Newport, Ky., Jan. 19.-The First national bank of Newport has closed its doors. The bank will be reorganized. The deposits are au out $370,000 and depositors will be paid in full. Director Charles Spinks says the bank closed because of the recklessness of Cashier Yautsey and Director McCracken. Louisville, Ky., Jan. 19.-The German national bank at First and Market streets did not open its doors for business, and the announcement was made that the institution was in the hands of Bank Examiner James Escott. The capital stock is $251,500, with a surplus of $31,000. J. M. McKnight is president. The bank has been in a shaky condition for three years owing to the failure of the Louisville deposit bank, by which it lost $75,000 and there are also between $250,000 and $300,000 worth of law suits pending, growing out of the bank's connection with the failure. Since the first of the year $75,000 in deposits have been withdrawn and several days ago Bank Examiner Escott began an investigation. Saturday he wired the result to the comptroller of the currency and the order came for the bank to be closed at once. St. Paul, Minn., Jan. 19.-The Minnesota state savings bank closed its doors and filed a deed of assignment, naming William Bickell as assignee. An affidavit was filed stating that the assets would amount to about $250,000, while the liabilities are in the neighborhood of $230,000. The officers of the bank deemed this step the best under the circumstances to protect the depositors. The recent flurry in banking affairs caused withdrawals of deposits to such an extent that, although the bank required the 60-days' notice, it was unable to raise enough ready money to meet demands. Fullerton, Neb., Jan. 16.-The Citizens' state bank of this city, closed its deors Friday afternoon. S. H. Penny, president, and F. M. La Grange, cashier, say that depositors will be paid in full. No statement of assets or liabilities will be given out until the bank examiner has completed his work of checking up. Seattle, Wash., Jan. 14.-The Seattle savings bank has closed its doors owing to heavy withdrawals of county funds by newly-installed officers. Judge Monroe, on petition, appointed H. O. Shuey receiver. The statement is made by bank officials that the affairs of the institution are in good shape, but not prepared for a run. The liabilities are $70,000 and the assets $104,000. The institution will liquidate its obligations dollar for dollar. Conway, Mo., Jan. 18.-The Bank of Conway made an assignment of all its assets to C. C. Draper, of Lebanon, and the officials say it is their intention to quit business. It was the only bank in town and carried a capital stock of $10,000, with C. Hanson as president and I. M. Porter cashier. Depositors will be paid in full.

11. January 21, 1897 River Falls Journal River Falls, WI
Article from River Falls Journal, January 21, 1897

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Off the New Orleans coast the steamship Eva, with a party of six aboard, was lost. At Ocala, Fla., the Merchants' national bank suspended with liabilities of $145,000. Republicans in the Oregon legislature nominated John H. Mitchell to succeed himself in the United States senate. Flames de: troyed the plant of the Fox Paper company at Crescentville. O., the loss being $150,000. Near Monterey, Ky., Jennie Browning, with her baby in her arms, jumped into the Kentucky river and both were drowned. Two farmers, Jonas Hackensmith and Punch Evans, living near Dover, Mc., shot each other fatally as the result of a family feud. Senator Sherman announces that he has accepted the state portfolio. In Wisconsin the semi-centennial plan of celebrating in 1898 the fiftieth anniversary of statehood has been shandoned. Fire destroyed a portion of the Buckner orphans' home in the suburbs of Dallas, Tex., and five boys peri hed and a number of others were injured Flames wiped out the business portion of Milan, Mo. Further advices say that 15 children perished in the fire that destroyed the Buckner orphans' home in Dallas, Tex. Crazed from cigarette smoking Benjamin L. Davis, proprieter of the Tabbard inn at Rugby, Tenn., cut his wife's throat with a razor and then shot himself to death. The Wheeling, Lake Erie & Pittsburgh Coal company failed in Cincinnati for $1,056,000. and the Wheeling & Lake Erie Railway company went into the hands of receivers with liabilities of $320,000. On the Iron Mountain & Texas Pacific route a train was thrown from the track by wreckers at Forest, Tex., and the engineer and express messenger were fatally injured. The doors of the Bank of Conway, Mo., were closed. In Indianapolis the Commercial Wheel company failed for $100,000. At their annual meeting in Columubs, 0., the United Mine Workers of Ameriea elected as president M. D. Batchford, of Ohio. At Flat Rock, W. Va., Lew Grim shot and fatally injured three outlaws W ho were trying to break upa dance. The only female national bank cashier in the United States, Mrs. Sarah Dick, was for the twenty-fourth consecutive time chosen to that position in the First national bank at Huntington, Ind. At Louisville, Ky., the doors of the German national bank were closed with liabilities of $260,000. The doors of the First national bank of Newport, Ky, were closed with liabilities of $200,000. Tillie Anderson made 41 miles 10 laps in two hours, which is a new world's record in the female six-day bicycle race at Indianapolis. At St. Paul the Minnesota savings bank suspended payment with liabilities of $230,000. At Garrett, Ind., H. N. Coffinberry, a banker, charged with forgery and em* bezzlement, fell dead from heart disease as the sheriff was about to arrest him. At Little Rock Dan W. Jones was inaugurated as governor of Arkansas. A windstorm at Huntington, Ind., blew the roof off the county infirmary and damaged other buildings. At Carson the Nevada legislature convened in eighteenth session. At Atlanta, Ga., Sam Palatka confessed that he caused the great Cahaba (Ala.) bridge disaster, which sent 35 persons to death and wounded a score more.

12. January 21, 1897 Democratic Northwest and Henry County News Napoleon, OH
Article from Democratic Northwest and Henry County News, January 21, 1897

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Colonel J. C. Spooner was elected to the United States senate from Wisconsin. Letters bearing the postage stamp of the Republic of Cuba have been delivered in New York. There is objection to the general arbitration treaty because it would infringe upon the Monroe doctrine. The Coxey reformers Issued an address to the people from St. Louis signed by Coxey and his son-in-law, Carl Browne. Captain General Weyler is in a very bad humor since he realizes he is about to lose his job, and refuses to see any one. General Roloff, secretary of war of the Republic of Cuba, has been arrested in New York, but the charge is kept secret. The City National bank of Streator, Ills., has notified its depositors to come and get their money, as it is going out of business. Friday. Two crooked bank officials were acquitted at Denver. The Merchants' National bank of Ocala, Fla., suspended. The house committee on Pacific railroads decided to reopen the question. A bill is pending before the Kansas legIslature to exclude wildcat corporations. Five persons were injured at Pittsburg because a gripman lost control of his car. A Lexow committee has been appointed to investigate the St. Louis police department. The plague has depopulated Bombay. Vultures are devouring the bodies of the dead. John D. Rockefeller, the multi-millionaire, was re-elected superintendent of the Sunday school of the Euclid Avenue Baptist church. Saturday. Martin B. Madden withdrew from the IIIInois senatorial race. Senator Chandler still Insists that armor plate costs too much. Miss Katherine Clemmons, actress, is soon to wed Howard Gould. The strike of stevedores at Green Bay, Wis., has been settled. A special from Budapest says Princess de Chimay is tired of her Gypsy lover and he of her. The Clyde line steamer Delaware, seized by the dispatch boat Dolphin off Mayport, was released. Major Prince, who is looking after the Cuban interests in Kansas City, took an overdose of chloral. Adjutant General Moses of Colorado has , wired a Columbus (0.) firm ordering 500 uniforms for recruits who are on guard at the Leadville mines. Buckner's Orphans' home burned at Dallas, Tex., and five inmates perished. Nine fishermen were driven out of Green Bay on a cake of ice into Lake Michigan. Ben Li, a tea merchant of Portsmouth, O., has been notified by the highbinders that he is to be killed. A boy named Glaydon, while Aworking in a cornfield, was fatally shot by an unknown assassin near Dupont, Patrick Donahue married a girl in Philadelphia whom he had betrayed and murdered her 20 hours later. The election of Hugh John McDonald of Winnepeg to the Dominion house of commons has been declared void because he hired vehicles to take voters to the polls. Monday. The Grand Opera House in Winnipeg was burned. Three children were asphyxiated in a tenement in Boston. Whole districts in India are without food and the people are starving. Over 22,000 people were engaged as bread winners in the United States in 1890. German millers have offered $250 for a method of destroying the meal moth. Rev. T. DeWitt Talmage urges the approval of the general arbitration treaty. A negro who beat and robbed George P. Beauvais at Whitecastle, Ia., was lynched. Judge J. F. McDonald of Fort Scott, Kan., was arrested on the charge of embezzlement. The First National bank of Newport, Ky., and the German National bank of Louisville failed. A new kind of Roentgen ray has been discovered in Vienna, which distinguishes death from catalepsy. Carl B. Christensen, who says he is a professor in Waterloo (Ia.) college, was arrested for stealing books from the public library in Boston. While the pope hoped to have the papacy recognized as a permanent arbitration tribunal for all nations, he is pleased with the treaty between the United States and England.

13. January 23, 1897 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, January 23, 1897

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BANK DOORS CLOSED. utions at Newport and Louisville y., and St. Paul, Minn., Suspend. wport, Ky., Jan. 19.-The First nal bank of Newport has closed ors. The bank will be reorganized. deposits are about $370,000 and deors will be paid in full. Director les Spinks says the bank closed be, of the recklessness of Cashier sey and Director McCracken. ate and rather startling developis that Mr. John Trapp, ex-sherthe county, who was elected presof the bank a week ago to succeed unkel, who precipitately resigned. ed to accept the office unless the 's affairs were thoroughly investi1. It seems that C. W. Nagel, who elected to succeed Youtsey er, had made sufficient investigahimself to warrant him in warnis friend Trapp that all was not should be. Therefore the bank been week. without a president for nearery bank in Covington had to meet 1 Monday as best it could on short e. Citizens rushed to their places eposit by the hundreds as soon as heard the news that the First na1 had not opened its doors in the ing and drew their savings. Many y depositors were among these. uisville, Ky., Jan. 19.-The German nal bank at First and Market ts did not open its doors for busiand the announcement was made the institution was in the hands of < Examiner James Escott. The tal stock is $251,500, with a surplus 1,000. J.M. McKnight is president. e bank has been in a shaky condifor three years owing to the failof the Louisville deposit bank, by h it lost $75,000 and there are also een $250,000 and $300,000 worth of suits pending, growing out of the 's connection with the failure. e the first of the year $75,000 in ts have been withdrawn and several ago Bank Examiner Escott began nvestigation. Saturday he wired esult to the comptroller of the y and the order came for the bank e closed at once. e bank's last statement, made Deer 17, showed loans of $442,832.62 deposits of $380,375.23. The e was 8 per cent. below the 25 - One suspicious item was ties, stocks, etc.," $113,025.29. The "causing much comment. President night says depositors will be paid ill. The bank bas on hand $60.000 ish. The deposits subject to check about $205,000. There are also ficates of deposits for $60,000. Mr night hopes to have the bank nized and ready for business in ** onday night the directors decided nize the Southern national bank the business of the German al, and the comptroller of the y was telegraphed for the neces

14. January 28, 1897 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, January 28, 1897

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A CLASH WITH ECKELS. Trouble Arises Over the Bank Failure at Newport, Ky. CINCINNATI, Jan. 27.-A sensational feature has arisen in the settlement of the affairs of the First National bank of Newport, which seems to involve a clash between the state court and the comptroller of the currency. Some of the depositors have filed a suit asking for the appointment of a receiver, alleging that the directors have abandoned the management of the afiairs of the bank and that Cashier Youtsey, who owes the bank $150,000, is disposing of his property and giving preference to certain creditors. No officer of the bank appeared to oppose the application and Judge Helm granted it and it is said will appoint John T. Hodge receiver. By what means the order of the court will be enforced is not made apparent. Receiver Wilshire, appointed by Comptroller Eckels, is still in charge.

15. February 1, 1897 The Herald Los Angeles, CA
Article from The Herald, February 1, 1897

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THE NEWPORT BANK. CINCINNATI, Ohio, Jan. 31.-Examiner Tucker completed his work at the defunct First National bank in Newport, Ky., yesterday, and tomorrow Receiver Willis will be in charge. The clerical force of the bank will remain with the receiver. Cashier Youstey is still in the bank, trying to straighten his affairs, and is very much interested in the official report of Examiner Tucker.

16. February 6, 1897 The Washburn Leader Washburn, ND
Article from The Washburn Leader, February 6, 1897

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People in Print. Joel T. Headley, the well known historian, died at Newburgh, N. Y., of paralysis. United States Senator Edward O. Wolcott is the guest of Baron Rothschild at his country seat. Edward W. Emerson of Concord, son of Ralph Waldo Emerson, has been chosen as poet for Phi Beta Kappa day at Harvard, next June. Ex-Empress Frederick received Mrs. Uhl. wife of the United States ambassador to Germany, ir. audience at Berlin. George P. Wilshire has been appointed receiver of the First National Bank of Newport, Ky., which failed a few days ago. Jerome R. Bingham, a prominent member of the Milwaukee bar, died very suddenly after returning to his home from a short walk. He was 71 years of age. Louis Centencin, chevalier of the crown of Italy, formerly president of the Italian chamber of commerce in New York, and formerly Italy's consul general to the two Sicilies, died at New York. Charles D. Owens, vice president and general manager of the Atlantic & Danville railway, was found dead in the bath room at his residence at Norfolk. Va. Heart disease was the cause. He was sixty-three years of age.

17. April 1, 1897 The Princeton Union Princeton, MN
Article from The Princeton Union, April 1, 1897

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Will Pay in Full. Newport, Ky., March 30.-Receiver Wilshire, of the First National bank of this city, which was closed several weeks ago, has announced that on next Thursday, April 1 he will pay all depositors in full, the directors having raised the necessary $200,000.

18. May 15, 1897 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, May 15, 1897

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CASHIER GOES TO PRISON. Wrecker of the Newport (Ky.) Bank Unable to Furnish Bonds. NEWPORT, Ky., May 14.-T. B. Youtzy, cashier of the First National Bank which failed last winte r, was arrested this afternoon on a Federal warrant charging him with a misappropriation of the bank's funds and making false reports to the Comptroller ot the Currency. Bonds were fixed at $10,000 for his appearance at the June term of court, and in default of bail he was sent to jail. When the bank failed Youtzy assigned ail his known property to the bank, thereby hoping to avoid prosecution. He is supposed to have used the money in investments. The cash of the institution had been completelv exhausted. In less than a month $70,000 had been withdrawn. Youtzv borrowed money on his own notes without giving any collateral.

19. May 15, 1897 The Sun New York, NY
Article from The Sun, May 15, 1897

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CASHIER YOUTSEY ARRESTED. Sent to Jail for Embezziement and Sending False Reports to Washington. NEWPORT. Ky., May 14.-T. B. Youtsey, cashier of the First National Bank, which closed its doors last winter on account of lack of available funds, was arrested and locked up this afternoon upon a Federal warrant charging him with misappropriating the bank's funds and with making false reports to the Comptroller of the Currency. His bond was fixed at $10,000 for his appearance at the June term of court in Frankfort. In default of bail he was sent to jail. The bank closed on Jan. 18, 1897. Youtsey assigned all his known property, valued at $162,000, to the bank. thereby hoping to avoid prosecution. He is supposed to have used the money for investments in Louisville and other land. The cash of theinstitution had been completely exhausted. In less than a month $70,000 had been withdrawn. Youtsey borrowed the money on his own note, without giving any collateral.

20. October 23, 1897 The Washburn Leader Washburn, ND
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General. Rukeyser & Bash, neckwear, failed for $100,000. Creedon and McCoy are matched for a finish fight between Dec 1 and 30. The firm of Goldberg & Rich of Nashville, has assigned. Liabilities, $76,000; assets believed to be far less. Chief Justice Tait of Montreal and former Chief Justice Hagarty of the Province of Ontario, have been gazetted knights. An epidemic of measles prevails at Webster City, Iowa. The health officer says over seventy cases have SO far been reported. A delegation of Tennessee citizens called on Secretary Long and presented arguments in favor of establishing an armor plant in that state. The European edition of the New York Herald asserts that the Indian government declines to reopen the Indian mints to silver. Maj. Benjamin H. Rogers, Eighth infantry, has been retired and Capt. Casper H. Conrad, Thirteenth in fantry, was promoted to major. The charge of lese majeste brought* against the Frankfurter Zeitung for criticising the alleged erratic course of Emperor William has been dismissed. Marcus Daly denies that he has, with other Anaconda officials, purchased a controlling or any other interest in the Butte & Boston property. At Oakland, Cal., Joe Wheeler made a new world's record for four-year-old pacing geldings by pacing a mile in 2:07 1-2 over a track that was two seconds slow. George P. Lawrence of North Adams, Mass., has been nominated for congressman by the Republicans of the First district to succeed A. B. Wright, deceased. Col. Guy v. Henry, who has been with his old regiment, the Third cavalry, since his promotion, has been ordered to join his new regiment, the Tenth cavalry. E. C. Stanton, former manager of the Metropolitan house, New York, has been declared a bankrupt at London, with liabilities amounting to £825 and no assets. Maj. Moses P. Handy has secured 25 per cent additional space for the American exhibits at Paris, making the space of the United States equal to that of other big nations. All but four of the thirty-three sailors on the United States revenue cutter Perry, at Seattle, Wash., quit because of a reduction in wages from $28 to $25 per month. Oscar Gardner knocked out Johnny Van Heest in the eleventh round of what was to be a twenty-round fight at 120 pounds before the Navarre Athletic club at Lexington, Ky. The Farmers' Loan and Trust company has brought suit at New York against the Hudson River Tunnel company to foreclose a first mortgage deed of trust amounting to $2,750,000. Lieut. Henry C. Cabel, Fourteenth infantry, has been ordered to report to the governor of Oregon for duty with the national guard of that state, relieving Lieut. Col. James Jackson, First cavalry. Two hundred of the 300 employes of the Bradford mills at Philadelphia, conducted by John and James Dobson, manufacturers of dress goods and worsted cloth, have gone on a strike because of a refusal of an increase of 10 per cent in wages. The controller of the currency has declared dividends in favor of the creditors of insolvent national banks, as follows: First National Bank of Newport, Ky., 15 per cent; National Bank of North Platte, Neb., 5; Chemical National Bank of Chicago, 5. The local manufacturers at St. Louis have announced their intention of manufacturing smoking tobacco, thereby developing a new phase in the bitter fight now raging between the Western Tobacco companies and the American Tobacco company. The wheat trimmers at the terminal elevator plant at West Superior have struck for an advance of 25 cents over the present wages of $1.75 per day. They did not get it, the management securing new men at the old wages and resuming work after a few hours' delay.

21. November 19, 1900 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 19, 1900

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The Woman in the Case. Brown, who is a widower. visited Yellowstone park last summer, and a certain Cincinnati woman wanted to accompany him, but this was denied her. When she ascertained. some time afterward. that another woman was with Brown on his Western trip. the Cincinnati woman gave the bank officials information that brought about a crisis. The only farewell letter that Brown is known to have left was to this woman. whose apartments are on Ninth street in Cincinnati, and in this letter he admits that he had secured about all that he could get and at the time had come to say farewell. Brown was a great poker player, with the limit. it is said. never too high, and he has been a plunger on horse races for years. His bets on the races, it is alleged. were frequently too high for the pool rooms in Covington, Ky., and he had brokers in both Chicago and New York. The officers of the German bank are wealthy and responsible men. and they will be able to make the losses good. May Be Serious Trouble. Among the directors is Paris C. Brown, the father of the defaulting man. who is known from Pittsburg to New Orleans as the head of the stores for boat supplies. The cashier of this bank is also the paying teller. and Brown relieved him as paying teller when the cashier went to dinner. It is stated that Brown did most of his work during the noon luncheon for the past year. There was quite a run on the bank yesterday. but the usual announcement was press made. until and It after continued midnight. the to bank be made More to of the a rush is expected at tomorrow. even if there has been a notice posted, and there may be serious trouble, even to the extent of violence. The First National bank of Newport was wrecked two years ago by Cashier Youtsey. and now. with the German National closed. Newport has but one bank left. CINCINNATI, Nov. 18-The German National bank has about 1,500 depositors, among them being the nine building assoclations that have savings of many paor people. These classes talked more today about the statements given out last Thursday and since then, than about Brown's defalcations. Brown wrote to a woman in Cincinnati that he was bound for South America. but the Enquirer will say tomorrow that it has good authority for saying that Brown sailed from New York yesterday, and that his destination Is Chipa

22. November 19, 1900 Wheeling Register Wheeling, WV
Article from Wheeling Register, November 19, 1900

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SO much to go on and seems gone the full limit for a small bank in a city of less than 30,000 inhabitants. The First National bank of Newport was wrecked two years ago by Cashier Youtsey, and now with the German National closed Newport has only one bank left. For two weeks there have been rumors that Brown was short and some depositors withdrew their accounts. Three weeks ago the bank examiners made a good statement for the bank, and the officers and directors allayed suspicion by referring to the report of this examination and to their last statement. Last Wednesday Brown left and it was announced that he had gone hunting on a vacation. He got a ticket for Odin, Ills., but it is learned now that he did not go there, and it is generally believed that he is out of this country with plenty of money in his possession. It is learned that Brown was suspended last Tuesday pending an investigation and that experts have been at work all the past week while the officers and directors have been making announcements that everything was all right. Last Friday the officers and directors over their own names published in the papers of this city a statement that the bank had been found to be all right and that the rumors about Brown were false. They continued making these statements to the press as late as last midnight, but the statements were not accepted by the Commercial Tribune, which exposed the alleged shortage and caused a panic in Newport to-day, SO that the bank had to be taken in charge by the examiner. The wildest scenes were witnessed in Newport to-day and serious trouble is feared to-morrow. Brown, it is alleged, was living a fast life with wine, women and gàmbling in his repertoire. His career was not cut short by any discovery at the bank till a jealous woman gave him away. Brown is a widower with one son, aged ten years, who lives with Brown's father, Paris G. Brown, ex-Mayor of Newport, and one of the leading business men of Cincinnati. Last summer Brown visited Yellowstone Park and a certain Cincinnati woman wanted to accompany him, but this was denied her. When she ascertained some time afterward that another woman was with Brown on his western trip the Cincinnati woman gave the bank officials some information that brought about a crisis. The only farewell letter that Brown is known to have left was to this woman, whose apartments are on Ninth street, in Cincinnati, and in this letter he admits that he had secured about all that he could get and that the time had come to say farewell. Brown, it is said, was a great poker player with the limit never too high and he had been a plunger on horse races for years. His bets on the races, it is reported, were frequently too high for the pool rooms in Covington, Ky., and he had brokers in both Chicago and New York. The officers of the German National Bank are wealthy and responsible men and they will be able to make the losses good. Among the directors is Paris C. Brown, father of the missing bookkeeper, who is known from Pittsburg to New Orleans at

23. November 20, 1900 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, November 20, 1900

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withhold all claims. The First National Bank of Newport was recently wrecked by its cashier, who has since been sentenced by the Federal Court, and if the German National is closed it leaves the city with only one bank. While Newport has only 30,000 inhabitants, it is surrounded by suburban towns with an aggregate of more than thirty thousand people. A dispatch from Washington says: "Controller of the currency has appointed Oliver P. Tucker, national bank examiner, temporary receiver of the German National Bank of Newport, Ky. Mr. Tucker telegraphed the controller that he had taken charge owing to the discovery of a defalcation amounting to about $192,000, and thereupon the controller appointed him temporary receiver. The officials here consider it astonishing that a defalcation amounting to more than the reserve of the bank could have remained undiscovered for any length of time, but they attempt to offer no explanation as Mr. Tucker has not yet furnished any details. The following is a statement of the condition of the bank as shown by its sworn report to the controller of the currency under date of Sept. 5, 1900: Liabilities-Capital stock, $100,000; surplus and undivided profits, $50,630.45. Circulation $25,000. Due to other banks, $16,178.45; deposits, $534,904.22; borrowed money, $10,000; Total, $736,713.14. Resources-Loans and discounts, $513,451.51; United States bonds to secure circulation, $25,000; premium on bonds, $1,031.25; banking house, furniture and fixtures, $32,012.29; real estate owned, $34,992.63; cash on hand and with banks, $130,225.46. Total, $736,713.14.

24. November 21, 1900 Watertown Republican Watertown, WI
Article from Watertown Republican, November 21, 1900

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HE WRECKS A BANK. Old and Trusted Employe Accused of Embezzlement. Assistant Cashier of a Newport (Ky.) Institution Missing-Said to Be Guilty of a Shortage Exceeding Every Asset. Cincinnati, Nov. 19.-United States Bank Examiner Tucker took possession of the German national bank at Newport, Ky., and posted a notice that the bank would remain closed pending an examination. Examiner Tucker also announced unofficially that Frank M. Brown, the individual bookkeeper and assistant cashier, was missing and that a partial investigation showed that Brown's alleged shortage was about $201,000. Brown had been with the bank 18 years, was one of the most trusted men ever connected with this old bank, and it is stated by the experts that his operations extended back as far as ten years. Went the Limit. The captial stock of the bank is only $100,000. Brown's shortage is double that amount and more than the reserve and all the assets, including their real estate. While Alvord got away with $700,000 in New York he did it in a large bank, but Brown did not have so much to go on and seems to have gone the full limit for a small bank in a city of less than 30,000 inhabitants. The First national bank of Newport was wrecked two years ago by Cashier Youtsey, and now with the German national closed Newport has only one bank left. For two weeks there have been rumors that Brown was short and some depositors withdrew their accounts. Three weeks ago the bank examiners made a good statement for the bank and the officers and directors allayed suspicion by referring to the report of this examination and to their last statement. Last Wednesday Brown left and it was announced that he had gone hunting on a vacation. He did get a ticket for Odin, Ill., but it is learned now that he did not go there, and it is generally believed that he is out of this country, with plenty of money in his possession. Caused a Panic. It is learned that Brown was suspected last Tuesday, pending an investigation, and that experts have been at work all the past week, while the officers and directors have been making announcements that everything was all right. Last Friday the officers ant! directors over their own names published in the papers of this city' a statement that the bank had been found to be all right and that the rumors about Brown were false. They continued making these statements to the press as late as Saturday midnight. but the statements were not accepted by the Commercial Tribune, which exposed the alleged shortage and caused a panic in Newport, so that the bank had to be taken in charge by the examiner. The wildest scenes were witnessed in Newport Sunday and serious trouble is feared to-day. Brown, it is alleged, was living a fast life, with wine, women and gambling in his repertoire. His career was not cut short by any discovery at the bank till a jealous woman gave him away. Stampede Expected. Bank Examiner Tucker took possession on Sunday because of the panic in Newport that followed at once on the publication of Brown's flight and alleged defalcations. The bank examiner posted notice that the bank would not be opened to-day pending investigation, but it is generally believed that this proceeding on Sunday will not prevent a stampede to-day, as the excitement in o late hour in