7489. Commercial Bank (Bogalusa, LA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 29, 1913
Location
Bogalusa, Louisiana (30.791, -89.849)

Metadata

Model
gpt-5-mini
Short Digest
07510a65

Response Measures

None

Description

Bank closed by State Bank Examiner Young in late May 1913 and placed in liquidation; receivers appointed and provisional liquidation accounts filed later in 1913. No run or depositor crowding is described in the articles; closure/suspension was by examiner (government action) and led to receivership and liquidation.

Events (4)
1. May 29, 1913 Suspension
Cause
Government Action
Cause Details
Closed by State Bank Examiner W. L. Young during his investigation of insolvency and objectionable loans; examiner ordered suspension of the bank in late May 1913.
Newspaper Excerpt
The Commercial Bank ... was closed by the examiner last Thursday
Source
newspapers
2. June 3, 1913 Other
Newspaper Excerpt
D. T. Cushing, who was appointed receiver of the bank and had his bond accepted, has taken oath of office and will be in charge of the bank's affairs until final adjustment.
Source
newspapers
3. June 4, 1913 Other
Newspaper Excerpt
State Bank Examiner William L. Young yesterday made affidavit against Houston D. Bickham ... The Commercial Bank ... was closed by the examiner last Thursday and this is the first criminal charge made in the affair.
Source
newspapers
4. November 17, 1913 Other
Newspaper Excerpt
The first provisional account rendered ... in the liquidation of the Commercial Bank of Bogalusa, was filed for record today ... collections since its suspension, last May, amount to $90,893.53; ... net amount left for distribution, $25,532.40;
Source
newspapers

Newspaper Articles (13)
1. June 4, 1913 The Hattiesburg News Hattiesburg, MS
Article from The Hattiesburg News, June 4, 1913

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BANKER BICKMAN IS ARRESTED PRESIDENT OF BOGALUSA BANK CHARGED WITH VIOLATION OF BANK LAWS. Franklinton, La., June 4.-State Bank Examiner William L. Young yesterday made affidavit against Houston D. Bickham, president of the Commer-- email we cial Bank of Bogalusa, charging him with receiving deposits after he knew the bank to be insolvent. The Commercial Bank, with the Bank of Angie and the Mount Herman Bank, was closed by the examiner last Thursday and this is the first criminal charge made in the affair. Bickham was taken into custody by a deputy sheriff at Bogalusa and brought by auto and turned over to the sheriff here yesterday afternoon. Sheriff Simmons placed him in charge of a deputy, who was thus made responsible for the prisoner until he gave bond. This Bickham did last night, after his attorney had journeyed S to Covington and Judge Lancaster there had issued an order fixing the banker's bond at $30,000. Signatures had been attached to Bickham's bond y in advance and as soon as the bond y was accepted he was released. g it Takes Matter Coolly. Bickham is taking the matter coolly Γ. and says he does not fear the outcome h of proceedings instituted against him. He says that his bank was solvent and if the examiners had given him a few e days he could have relieved the instie tution of the objectionable loans. He g says now that much of the funds belonging to depositors will be paid to receivers and attorneys appointed to he wind up the affairs of the banks. st

2. June 5, 1913 The Era-Leader Franklinton, LA
Article from The Era-Leader, June 5, 1913

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Franklinton, La., June 5. 1913 Banker Bickham Arrested. Franklinton, La., June 3.-The definite charge against Huston D. Bickham, president, and Wm. E. Douglas, a director of the Commercial Bank of Bogalusa, is that they "knowingly received deposits on the 28th day of May 1913, when the bank was insolvent." Bickham was arrested at Bogalusa this morning and conveyed by automobile, accompanied by Norman Simmons, deputy sheriff, to this place, repairing at once to the office of Printis B, Carter and Son, attorneys. Bonds were signed by several friends in blank amounts, but covering whatever District Judge Joseph B. Lancaster might fix. This turned out to be $30,000 for Bickham and $10,000 for Douglas. Oceola Carter, attorney, went at once by automobile to Covington to secure the signature of the judge, which was obtained late in the evening. Douglas has not been arrested, but has sent word that he will arrive to-morrow morning. Bickham refused to make a statement, but his attorney P, B. Carter, authooized the statement tnat when the case comes to trial the jury will acquit his clients without leaving their seats. Douglas, a farmer, recently organized a mercantile company at Angie, and is alleged to be involved in a loan considered to impair the capital of the Commeroial Bank. The minor officers of the three banks,-the Commercial at Bogalusa, the Bank of Angie and the Mt. Herman Bank, are reported as innocent of any violation of the banking law and are not under charges. Dr Warner is president of the Angie Bank. He is believed to be able to stand the financial pressure occassioned by the suspension. Jasper S. Brock, Jr., formerly cashier of the Farmers and Merchants Bank, which recently consolidated with the Bank of Franklinton, is active vice president of the Union Bank of this place, the product of the merger, and has been appointed trustee to liquidate the affairs of the banks at Angie and Mt. Herman, Hequalified today in a bond of $5,000 in each case. D. T. Cushing, of Bogalusa, qualified in a bond of $10,000 to liquidate the Commercial Bank. St Clair Adams is Attorney for the trustees at Bogalusa, and Delos R. Johnson is attornry for the other two banks. t riends of Mr. Bickham recall his failure and bankruptcy proceedings some years ago, involving a sum approximating $90,000, Mr. Bickham expressed the belief that but for the shaken confidence occasioned by the bank examiner's action he and his friends would not lose a dollar. Bogalusa, La., June 3.-Ever since the first news was given regarding the condition of the Commercial Bank here and its closing by State Bank Examiner Young the examiners have been busy investigating the assets, with a view of ascertaining just how conditions Prestical

3. June 5, 1913 The Era-Leader Franklinton, LA
Article from The Era-Leader, June 5, 1913

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up statements of the assets and their value. A Corps of stenographers was secured in Bogalusa to assist in the compiling of such data. While up to the present time it is impossible to ascertain just how large an amount is involved, Attorney St. Clair Adams, who has been on the scene here with Examiner Young since Sunday, found it such as to make it necessary for him to report his findings to Govenor Hall and ask for a warrent to arrest Houston D. Bickham, president of the Commercial Bank here and of the banks at Mt. Herman and Angie. The warrent having been recieved, it was placed in the hands of constable Moore, of this place, who served it on Mr. Bickham this morning, and he was taken to Franklinton. Further arrests, it is reported, are expected at any moment. From very reliable sources it is learned that the condition of the Commercial Bank is much worse than at first anticipated, but as the examination and appraising of the assets is still going on the total amount is not yet to be escertained. From present indications, however, it is believed that the assets of the Bank of Angie are sufficient to pay depositors dollar for dollar, but the other two banks involved are in much worse condition. D. T. Cushing, who was appointed receiver of the bank and had his bond accepted, has taken oath of office and will be in charge of the bank's affairs until tinal adjustment. The Lampton interests of Columbia, Miss., have given up the idea of taking over the Commercial Bank.

4. June 6, 1913 The Pascagoula Democrat-Star Pascagoula, MS
Article from The Pascagoula Democrat-Star, June 6, 1913

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HEAD OF CLOSED BANK MAKES STATEMENT Bogalusa, La., June 5.-H. D. Bickham, president of the Commercial Bank here, which was closed by the bank examiners, along with banks at Angle and Mount Herman, states that if the Columbia, Miss., bank took over his bank the institution could pay its deposits dollar for dollar. If the local bank is not thus taken over, a receiver will be appointed to liquidate its affairs, the president said. State Bank Examiner Young is still here examining the bank's books,

5. June 7, 1913 St. Tammany Farmer Covington, LA
Article from St. Tammany Farmer, June 7, 1913

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Franklinton June The definite charge against Her ston D 1) ekham sensiont, and hain E Longias a director of the Commercial Bank of Bogalusa, is that they 'knowingly received deposits cn the 28th day of May, 1913, when the bank was in solvent." Bickham was arrested at Bogaluss this morning and conveyed by automobile, accompanied by Norman Sim mons, deputy sheriff, to this place at once to the offices cf Carter & by repairing Prentise B. signed Son, several attorneys. friends blank amounts. but District Judge in Bond's were Joseph covering B. what- Lanfix. This to for Bickham ever. caster be $30,000 might turned and out $10,000 for Douglas. Oceole Carter. a torney, went at once by automobile to Covington to secure the signature of the judge, which was obtained late in the evening Douglas Arrives To-day. Douglas has not yet been arre te but has sent word that he will arrive to-morrow evening. Bickham refused to make a state ment, but his attorney. Prentiss Ca" ter. authorized the statement the when the case comes to trial the jury will acquit his client without leaving their seats. Dougla3. a farmer, recently organ ised a mercantile company at Angir : and is alleged to be involved in loan considered to impair the capital of the Commercial Bank. minor officers of the thro* the Commercial at banks- The Mount Bogaluse Herthe Angie Bank and the man Bank-are reported as innocent lav of any violation of the banking not under is president of and Warner are charges. the able Angi DBank. He is believed to be to stand the financial pressure occasion ed by the suspension. Brock Named Trustee. Jasper S. Brock, Jr., formerly cash of the Farmers and Merchants ter Bank, which recently consolidate with the Bank of Franklinton. is active vice president of the Unio: 02 Bank of this place, the product the merger, and hag been appcinte to liquidate the affairs banks a Angie and Mount the trustee bond: Her man. He qualified today in Cushof $5,000 in each case. D. T. bon ing of Bogalusa, qualified in a of $10,000 to liquidate the Comme" at cisi Bank. St. Clair Adams is torney for the trustees at Zogalusa fc: and Delog R. Johnson is attorney the other two banks. Friends of Mr. Bickham recall his and bankruptcy proceedings ap failure years ago, involving a sum some proximately $90,000. Mr. Bickhar for the expressed the belief that but the confidence occasiond by his shaken bank examiner's action he and friends would not lose a dollar. Bogalusa, June 3.-Ever since the news was given out regarding Bank first condition of the Commercial Bank the and its closing by State have Examiner here Young the examiners assets busy investigating the how been view of ascertaining just of with conditions a were. Practically all ir Eaturday and Sunday was spent of bank making up statements corr: the ussets and their value. A in Bo the stenographers was secured c' galusa of to assist in the compiling such data While up to the present time It how If impossible to ascertain just an amount is involved, Attorney the large Clair Adams, who has been Young on St. here with Examiner as to scene Sunday, found it such report since it necessary for him Hall to and make findings to Governor Houston his for a warrant to arrest Comask Bickham, president of the bank mercial D. Bank here and of the at Mount Herman and Angle. warrant having been received ConThe was placed in the hands who of serv stable it Moore, of this place, morning on Mr. Bickahm this and ed it he was taken to Franklinton. Further arrests, it is reported, From ver! are at any moment. that the expected sources it is learned Bank reliable condition of the Commercial anticipatmuch worse than at first but as the examination and ap-

6. June 19, 1913 The Era-Leader Franklinton, LA
Article from The Era-Leader, June 19, 1913

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# Who's Right? Comparison of the statement of the attorney for H. D. Bickham, President of the Commercial Bank of Bogalusa, now in hands of a Receiver, and the report of State Bank Examiner Young. # CARTER'S STATEMENT. Covington, La., June 16.- Prentis B. Carter, of Carter & Carter, at Franklinton, counsel for Bickham and Douglas, who is in Covington on the Bogalusa Bank case, said today that they would prove that all of Bickham's loans were covered by negotiable paper. Mr. Carter asserted that the action of Bank Examiner Young was premature, and had any intimation been given, all the papers would have been taken up or secured by additional collateral. He also said that the Sheridan Rauch Company loan of $10,000 could and would have been paid at maturity, as the company was a paying proposition. # YOUNG'S REPORT. The portfolio of the bank contains a loan to the Sheridan Ranch Company dated March 5, 1913, secured by a mortgage note of $10,000 and by 49 shares of the capital stock of the Sheridan Ranch Company, which stock had been issued to E. D. Sheridan, who is president of the Sheridan Ranch Company. My investigations disclosed the fact that the Sheridan Ranch Company is a corporation organized on March 6, 1913, with capital stock authorized at $40,000: that $10,000 of the capital stock had been subscribed and issued to the following persons: B. G. Smith, 50 shares; E. D. Sheridan, 49 shares; L. L. Richardson Jr., 1 share. Inquiries made of these stockholders disclosed that this stock was issued and none of it was paid for, either in money, property or anything else of value, It appears that this company was a paper corporation purely and simply, organized without any assets of any kind or description, In this connection it is pertinent to state that this corporation was formed with the knowledge and consent of Mr. H. D. Bickham, who was present at the time it was organized, witnessed its charter, and has directed its organization and affairs. As soon as this corporation was formed, the aforesaid loan of $10,000 was made by Mr H. D. Bickham, acting as President of the bank, to Mr. E. D. Sheridan, acting as President of the Sheridan Ranch Company. It appears that Mr. E. D. Sheridan, before the organization of the Sheridan Ranch Company, had an agreement with the Great Southern Lumber Co. to purchase from it a certain tract of cut-over land situated in Washington Parish. After the Sheridan Ranch Company was organized and after the loan of $19,000 was made, the performance of this agreement to purchase said cut-over land was undertaken by the Sheridan Ranch Company, it paying to the Great Southern Lumber Company the sum of $1,585.10 and further agreeing to pay to the said lumber company four notes of $1,188.82 each, maturing in one, two, three and four years after date of agreement. The Great Southern Lumber Co. how-

7. November 1, 1913 St. Tammany Farmer Covington, LA
Article from St. Tammany Farmer, November 1, 1913

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HOUSTON D. BICHAM SHOT. Fired at From Ambush, But not Fatally Hurt. Franklinton, Oct. 30.-Houston D Bicknam, 40 years of age, banker an merchant, was shot from ambush to night at Cumncc, five miles north 0 / here, and probably fatally wounded, The identity of the would-be assassi has not been ascertained. Mr. Bickham, who was presiden of the Commercial Bank of Bogalus: the Angie Bank and the Mount He: man Bank, all of which were recentl placed under suspension by the Sta: bank examiner, had spent this after noon in Franklinton in conferenc with his attorneys regarding litiga tion growing out of his financial di ficulties. "At 5 o'clock Mr. Bickham started on the return to his home at Cumno where he resided with his wife a three children at the residence ' his brother, C. H. Bickham. TO banker traveled alone in a single seated buggy. It is stated here that the attemp ed assassination occurred in the sto of C. H. Bickham. It is learned th: the financier was shot in the abd men and that his wounds are belie ed mortal. The tragedy was enact ed a few minutes past 7 o'clock 11 night. Immediately on Sheriff Thomas : Simmons being advised of the affai he sent Wiley Pierce and two othe deputy sheriffs to the scene. Th sheriff himself is sick abed and us able to get about. The deputies ar not expected to return from Cumno before morning, and until then f details of the affair will not 1 known. Mr. Bickham is a son-in-law W. W. Babington, a prominent an wealthy man of this section.

8. November 7, 1913 The Caldwell Watchman Columbia, LA
Article from The Caldwell Watchman, November 7, 1913

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BANKER SHOT FROM AMBUSH Assailant Unknown-Was President of Suspended Banks. Western Newspaper Union News Service. Franklinton.-Houston D. Bickman, 40 years of age, banker and merchant, was shot from ambush at Cumnoc, five miles north of here, and probablv fatally wounded. The identity of the would-be assassin has not been ascertained. Mr. Bickman, who was president of the Commercial Bank of Bogalusa, the Angie Bank and the Mount Herman Bank, all of which were recently placed under suspension by the state bank examiner, he was in Franklinton in conference with his attorneys regarding litigation growing out of his financial difficulties.

9. November 7, 1913 The Rice Belt Journal Welsh, LA
Article from The Rice Belt Journal, November 7, 1913

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BANKER SHOT FROM AMBUSH Assailant Unknown-Was President of Suspended Banks. Franklinton.-Houston D. Bickman, 40 years of age, banker and merchant, was shot from ambush at Cumnoc, five miles north of here, and probably fatally wounded. The identity of the would-be assassin has not been ascertained. Mr. Bickman, who was president of the Commercial Bank of Bogalusa, the Angie Bank and the Mount Herman Bank, all of which were recently placed under suspension by the state bank examiner, he was in Franklinton in conference with his attorneys regarding litigation growing out of his financial difficulties.

10. November 8, 1913 The Madison Journal Tallulah, LA
Article from The Madison Journal, November 8, 1913

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BANKER SHOT FROM AMBUSH Assailant Unknown-Was President of Suspended Banks. Western Newspaper Union News Service. Franklinton.-Houston D. Bickman, 40 years of age, banker and merchant, was shot from ambush at Cumnoc, five miles north of here, and probably fatally wounded. The identity of the would-be assassin has not been ascertained. Mr. Bickman, who was president of the Commercial Bank of Bogalusa, the Angie Bank and the Mount Herman Bank, all of which were recently placed under suspension by the state bank examiner, he was in Franklinton in conference with his attorneys regarding litigation growing out of his financial difficulties.

11. November 20, 1913 The Era-Leader Franklinton, LA
Article from The Era-Leader, November 20, 1913

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$25,532.40 To Be Distributed. Franklinton, Lit., Nov. 17.The first provisional account rendered by W. L. Young, examiner of state banks, and D. T. Cushing, special agent, in the liquidation of the Commercial Bank of Bogalusa, was filed for record to day. The collections since its suspension, last May, amount to $90,893.53; expenditures, being privileged claims paid and to be paid, $63,361.13; net amount left for distribution, $25,532.40; amount available for an immediate dividend of 10 per cent, $13,600.29. Sherifi Thomas J. Simmons re. turned from New Orleans last night, whence he had gone with a bondsman of Huston D. Bick. ham. In an interview he stated that as the bondsman had desired to be relieved, the sheriff repaired to the Presbyterian Hospital and taken charge of Bickham, who is under charges relating to the sevend Washington Parish banks with which he had been conuected, removed him to the Parish Prison in that city.

12. November 22, 1913 St. Tammany Farmer Covington, LA
Article from St. Tammany Farmer, November 22, 1913

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$25,532.40 TO BE DISTRIBUTED. First Account of Suspended Bogalusa Bank is Made by Examiners. Franklinton, Nov. 17.-The first provisional account rendered by W. L. Young, examiner of State banks, and D. T. Cushing, special agent, in the l'quidation cf the Commercial Bank of Bogalusa, was filed for record today. The collections since the suspension, last May, amount to $90.. 893.53; expenditures, being privileged claims paid and to be paid, $63,361.13; net amount left for distribution, $25,532.40; amount available for an immediate divident of 10 per cent, $13,600.29. Sheriff Thomas J. Simmons returned from New Orleans last night, whence he had gone with a bondsman of Houston D. Bi kham. In an interview he stated that as the bondsman had desired to be relieved, the sheriff repaired to the Presbyterian Hospital and taking charge of Bickham, who is under, charges relating to the several Washington parish banks with which he had been connected, removed him to the Parish Prison n

13. December 13, 1913 St. Tammany Farmer Covington, LA
Article from St. Tammany Farmer, December 13, 1913

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EFFORT WILL BE MADE TO RE: DUCE BOND AND GET A CHANGE OF VENUE. BICKHAM CONFIDENT OF RELEASE ON HEARING Maintains that He is Guiltless of any Wrong Doing and Only Wants Fair Hearing. Attorney Fred J. Heintz is working hard in the case of H. D. Bickham, who was at the head of and a big stockholder in the Commercial Bank of Bogalusa when it suspended, and who is now in the parish prison in New Orleans, charged with illegal transactions in its management. Mr. Heintz will attempt to have the bond reduced and secure a change of venue in the trial of the case either to Covington or Amite City. The New Orleans Picayune quotes Mr. Bickham as follows: "And should the change of venue be granted," said the former banker who shows that he has suffered greatly, "I am going to make an effort to get released on bond. Either Amite City or Covington will be the place good enough for me to be trie : on the charges now laid against me. In either place I can obtain a fair trial, and that is all I want. You see, the bond fixed now-about $41,000, is exorbitant. True, I had bonds. men for that amount before, but then I was almost assassinated, and the bondsmen were threatened, according to the report, and while I was here in the Presbyterian Hospital the bondsmen called upon me and explained their position and I was willing that they should be released. Now something like $10,000 should be the bond in my case, if bond is needed. It is a fair amount and it would allow me the chance of securing relatives to sign the bond and avoid calling upon any one else. One of the former bondsmen expressed a willingness to sign my bond again, but it may be that I will not ask him to be a part of the surety." "Do you believe that in a trial you will vindicate yourself?" "Certainly," answered Bickham, and he said it as if he was sure that he will win in the first bout in court. "Why should I not win an acquittal? When everything is laid bare you will find that the banking business I conducted was conducted on the best business principles and if it had not been for the precipitative measures and the malice shown to-day the bank would be a going business."