Citizens Bank (Oelwein, IA)

Episode Information

Episode UID
7654867391176
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
765486739 hash
Start Date
December 22, 1897
Location
Oelwein, Iowa (42.673, -91.914)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0a2a22e785cb296a

Response Measures

None

Description

Voluntary assignment (closure) with subsequent embezzlement charges against the president noted.

Events (2)
1. December 22, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Voluntary assignment/closure by proprietors (H. C. Sturgis & Co.) amid insolvency; later reports of embezzlement by bank president.
Newspaper Excerpt
The Citizens' bank at Oelwein, Ia., H. C. Sturgis & Co., proprietors, made a voluntary assignment and closed its doors. Liabilities, $35,000.
Source
newspapers
2. December 31, 1897 Receivership
Newspaper Excerpt
Warrants were issued for the arrest of C. P. Sturgis, president of the defunct Citizens' bank of Oelwein, Ia., who recently attempted suicide by shooting. The warrants charge embezzlement of school funds.
Source
newspapers

Newspaper Articles (6)
1. December 18, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, December 18, 1897

Click image to open full size in new tab

Article Text

TELEGRAPHIC BRIEFS. The Lincoln (Neb.) street railway was sold under foreclosure. The Excelsior Light works of Port Huron, Mich., burned. Loss about $50,000. There is good authority for stating that further concessions of 50 years has been granted to the Casino company. The Citizen's bank of Oelwein, Ia., H. C. Sturgus & Co., proprietors, assigned. Liabilities $53,000; assets unknown. John Hardin was hanged at Grundy, the county seat of Buchannan county, W. Va., for the murder of George Mounte. Sheriff and Tax Collector J. R. Johnson, of Ukiah, Cal., has absconded with public funds to the amount of about $6,000. The general offices of the United States Express company will be removed from St. Louis to Cincinnati Jan. 1. No reason for the change has been made public. George Rollin, whose wife at Adrian, Mich., recently secured $5,000 from the Ancient Order of United Workmen and the Modern Woodmen on the supposition that Rollins had been drowned at Toledo, was found at Cleveland in a hospital. Jacob Weil, a real estate broker and a one time a wealthy owner of down-town property in Chicago, committed suicide in his office by shooting. Business reverses and mental derangement are supposed to be the causes. He was 52 years old. According to a correspondent of the Herald in Puntagorda. Fla., the United States revenue cutter, McLane, Captain Reynolds, has arrived ere with seven Spanish fishing smacks that were seized for violation of the navigation law. The smacks have been turned over to the custody of the customs authorities. The William Cramp Ship & Engine Building company of Philadelphia is going to construct a building plant at Seattle to compete with the Union Iron works at San Francisco. The new plant will be as large if not larger than the one now operated by the Cramps and will cost $10,000,000.

2. December 22, 1897 Morris Tribune Morris, MN
Article from Morris Tribune, December 22, 1897

Click image to open full size in new tab

Article Text

FINANCE AND TRADE. The Citizens' bank at Oelwein, Ia., has assigned. Kansas cattle are reported by the secretary of the state board of agriculture to be in fine shape. Pooling under the supervision of the interstate commerce commission was indorsed by the national board of trade. The Japanese government has assented to the demands of Austro-Hungary, that that nation's imports be admitted under the conventional tariff. The comptroller of the currency has issued a call on national banks for a statement of their condition at the close of business on Wednesday, Dec. 15. The anti-pelagic sealing bill which has passed congress prohibits the importation of sealskins, which is a severe blow to British and Canadian industries. The Portland, (Or.) chamber of commerce has adopted a resolution asking congress to appoint the proceeds of the Pacific bond-aided railroads for the purpose of building the Nicaraguan canal.

3. December 22, 1897 The Ely Miner Ely, MN
Article from The Ely Miner, December 22, 1897

Click image to open full size in new tab

Article Text

Deutschland sailed for Chinese waters. LATER. The Hawaiian annexation treaty, which was allowed to go over the holidays, will be called up as soon as congress reconvenes in January. Senator Davis said that it was his purpose to bring it up immediately for consideration. Baker J. Bacon, was sentenced to seven years in prison by the U. S. court at Salt Lake City, for making false entries in his report to the comptroller of the curency while president of a National Bank. The engineer of six of the Allen line steamers at Glasgow, Scotland, have gone on a strike. Cramps, the Philidelphia ship builder will build $10,000,000 ship yards at Seattle, Wash. The Citizens' Bank, of Oelwein, Io., H. C. Sturgis & Co., proprietors, has made a voluntary assignment. John J. Hanrahan and Patrick Ferris, judges of election in the 17th ward of Chicago at the last municipal elec tion. were convicted of falsifying the returns and sentenced to the penitentiary. The fifteen-round prize fight at Long Island City, N. Y., between "Kid" McCoy and Dan Creedon was won by McCoy in the 15th round. McCoy is now the middleweight champion. William Carr. who murdered his child, was hanged at Liberty, Mo. Carr, who is a giant back-woodsman, told the story of his crime without the least emotion. Peter Maher has challenged any heavy weight pugilist in the world for a fight. The electric light works at Excelsior, Mich were completely destroyed by fire. The big cooperage department of the John Betz brewery at New York was burned; loss, $75,000. It was announced from Chicago that Fitzsimmons had agreed to another battle with Corbett, to take place some time next year, under the management of Dan Stuart. The jewelry store of Mermod & Jacard, at St. Louis, Mo., was destroyed by fire; loss, $125,000. The big department store of Benner & Begg, the jewelry store of H. A. Stone, and the Stanchfield clothing house at Grand Forks, N. D., were destroyed by fire. An open switch at Pontiac, Ill., caused a collision on the Chicago & Alton railroad, in which at least a dozen passengers were injured. None were killed. The U. S. treasury the 18th had a gold reserve of $159,759,211. The Lincoln, (Neb.) street railway system, compris .g 40 miles of track, power house and equipment was sold under mortgage foreclosure. Washington Hesing, proprietor of the Illinois Staats Zeitung, one of the leading Germans of the northwest, and postmaster of Chicago, during the last term of President Cleveland, died suddenly of heart disease. The United States revenue cutter McLane, Capt. Reynolds, arrived at Punta Garda, Fla., arrived with seven Spanish fishing smacks that were seized for violation of the navigation laws. The smacks have been turned over to the custody of the customs authorities. At the annual session of the American Federation of Labor. Samnel Gompers was re-elected president. A slight shock of earthquake was felt at Ashland, Va. Pardee hall, part of Lafayettee college, at Easton, Pa., was badly damaged by fire. Besides the loss on the building, thousands of dollars worth of valuable property belonging to the professors was destroyed. The president has appointed Wm. Penn Nixon. editor of the Chicago Inter-Ocean, as collector of customs at Chicago. Strong earthquake shocks lasting 12 seconds were felt at Curta Di Castello, province of Perugia, Central Italy. The walls of houses split, many chimmes fell, the bells rang and a panic prevailed among the inhabitants. A chair car on the Denver & Rio Grande railroad broke loose from the train at Castle Rock, Colo., and started down the mountain. colliding with an engine. Fifty men were in the car and 33 of them were injured.

4. December 23, 1897 Audubon Republican Audubon, IA
Article from Audubon Republican, December 23, 1897

Click image to open full size in new tab

Article Text

LATER. At the session of the American Fedation of Labor in Nashville, Tenn., was ordered that a representative be dered to stay in Washington and atch legislation. Fire destroyed the Hotel Dacotah and o wholesale grocery stores in Grand orks, N. D., the total loss being $400,0, and A. C. Howe and his wife perhed in the hotel fire. The residence of Patrick Leahy was irned at Ottawa, Ont., and Leahy and e of his children perished. Gen. Blanco says that if, within a reanable time after the establishment of tonomy in Cuba, it is seen that it has , practical effect in the restoration of ace, he will resign. The National Civil Service Reform ague in session in Cincinnati reelected arl Schurz president. There were 329 business failures in e United States in the seven days ded on the 17th. against 312 the week evious and 387 in the corresponding riod of 1896. William W. Thomas. Jr., of Maine, s been selected as minister plenipontiary of the United States to Swein and' Norway, and Hamilton King, Michigan, as minister to Siam. Jacob Weil, aged 52, one of Chicago's st known real estate owners and capalists, shot himself dead in his office hile temporarily insane. In a fight in New York forthe middleeight championship of the world Dan reedon, of New Zealand, was whipped , "Kid" McCoy. of Indiana, in the teenth round. The Citizens' bank at Oelwein, Ia., H. Sturgis & Co., proprietors, made a luntary assignment and closed its ors. Liabilities, $35,000. Twenty-two horses were burned to eath in Joseph Badenoch's barn in icago. Murderers were hanged as follows: rady Reynolds and Bud Brooks at Jefrson, Ga.; Bud Beerd (colored), aged years, at Carrollton, Ala.; William hnson at Covington. Tenn., and Wilm Carr at Liberty, Mo. The Northwestern overland limited ain was wrecked at Vail, Ia., and 19 rsons were injured. Washington Hesing, ex-postmaster Chicago, twice candidate for mayor, d president of the Staats Zeitung mpany, died of heart failure, aged years. Charles L. Childs, an ex-member of ngress from Illinois, died in Pittsrgh, Pa. A locomotive exploded near Repton, la., killing the engineer, John O'Conr, the fireman, Jack Clipper. and two ainmen, John Johnson and Henry ickery. R. Monarch, one of the largest disllers in Kentucky, failed at Owensro for $750,000. John Straus was dead and his two ns were dying from drinking coffee Elk City, Kan., into which rat poison d dropped accidentally. The Mermod & Jaccard jewelry comany in St. Louis lost $335,000 by a fire at destroyed their stock. In a bull fight at Guadalajara, Mexico, ree persons were killed and nine hers seriously injured, and in a simr performance in the City of Mexo ten horses and six bulls were killed. Thirty-three men were injured, two tally, in a collision on the Rio Grande ad near Castle Rock, Col. Mrs. Dinah Sutton, the last of the aves ever owned in New Jersev. died

5. December 28, 1897 Willmar Tribune Willmar, MN
Article from Willmar Tribune, December 28, 1897

Click image to open full size in new tab

Article Text

MINOR NEWS ITEMS. For the Week Ending Dec. 23. Josiah Quincy (dem.) was reclected mayor of Boston. Slight shocks of earthquake were felt at Ashland and Richmond, Va. The United States supreme court has adjourned to the 3d of January. Freezing weather has greatly damaged the crop in California. the French Alphonse orange Daudet, famous novelist, died in Paris, aged 57 years. were Three young persons drowned while skating on a creek at Tonewanda, N.Y. The Southern Express company's office at Columbia, S. C., was robbed of $10,000. The constitutionality of the civil service law was upheld by the Illinois supreme court. The Chinese government has granted Russia permission to winter a squadron at Port Arthur. The United States training ship Alliance has arrived in New York after an extended cruise. In Guatemala six political prisoners accused of aiding the revolutionary party were-shot. By the bursting of a land boom in Australia C. H. James failed in Melbourne for $4,250,000. The Northwestern overland limited train was wrecked at Vail, Ia., and 19 persons were injured. The reciprocity negotiations between the United States and Germany are practically suspended. A report as to the penitentiary scandal in Nebraska discloses irregularities aggregating $537,871.87. Twenty-year-old Peter S. McMahon, crazed by cigarettes, shot and killed himself at Syracuse, N.Y. In an open letter to the Federation of Labor Secretary of the Treasury Gage defends the gold standard. Burts Scrafford and Charlie Clifford were blown to pieces by an explosion of dynamite at Clearwater, N.Y. The exportation of raw cotton from the southern states to Japan is practically double what it was last season. In a riot during a trial in the courthouse at McArthur, O., Elijah Brown and Teeters were Plyly fatally injured. A number of earthquakes occurred around Smyrna, Asia Minor, and several persons were killed and many injured. The Pennsylvania republican committee has decided to hold the next state convention at Harrisburg, June 2,1898. Mrs. Ann Kelly, aged 65 years, and Miss Mary Baird, aged so years, died in Plainfield, N. J., from drinking wood alcohol. A wreck caused by a runaway freight train at 'Altoona, Pa., resulted in several men being badly injured and 50 cars demolished. The makers of book paper in Wisconsin, Michigan, Indiana and Ohio have formed an association to stop the cutting of prices. Dr. Zertucha, whose cowardly be: trayal of Gen. Maceo resulted in his $ death, has been made mayor of Bejucal, Havana province. The Hide and Leather bank in Chicago went into voluntary liquidation 3 and the assets were transferred to the Union national bank. i The Citizens' bank at Oelwein, Ia., II. C. Sturgis & Co., proprietors, made a voluntary assignment and closed its e doors. Liabilities, $35,000. Charles Doring, cne of the best-known bandmasters in the United States and f organizer of the famous Doring's band, died at his home in Troy, N. Y. Rev. W. M. Brown, originator and president of the True Reformers, a powerful organization among the negroes of the south, died in Washington.

6. December 31, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, December 31, 1897

Click image to open full size in new tab

Article Text

TELEGRAPHIC BRIEFS. The wreck of the steamer Cleveland has been pulled off the rocks. The geologists of America decided to hold their next convention at Boston. The strike sentiment among the carders of the Fall River mills is much stronger than anticipated. The Ward steamship line will convey supplies to Cuba for the relief of the suffering people, free of cost. Rev. Dr. Edward S. Linse, rector of St. Paul's church, New York, declined the position of secretary of the Episcopal Missionary board. It is conceded that the cotton mills in Maine will fall into line with the other New England mills early next month and reduce the wages of the operatives. Twelve thousand employees will be affected. The gales continue about the British coast, and anchorages are full of vessels which have sought shelter. The channel service between Dover and Calais, and Folkstone and Boulogne was suspended this morning. Mr. Roosa, the dispatch agent of the state department at New York, has been directed to draw $800 contributed by the people of Montana through the Anaconda Standard, and with that sum purchase and send to General Lee condensed milk. According to a report from Spanish sources at Esperandea, province of Santa Clara, a party of insurgents fired into that town on Saturday night. Bullets struck a number of residences, and one bullet went through the sleeve of Senorita Valdez, daughter of the mayor of the town. John M. Dale, of Bellefont, Pa., was appointed receiver of the Pennsylvania Building & Loan association of Altoona by Banking Commissioner Gilkeson. It has assets of $177,649. General Manager Wright says there will be 80 cents on the dollar left for stockholders, after receivers' expenses are paid. Warrants were issued for the arrest of C. P. Sturgis, president of the defunct Citizens' bank of Oelwein, Ia., who recently attempted suicide by shooting. The warrants charge embezzlement of school funds. When officers called at Sturgis' home they found he had disappeared. Nothing is known about his whereabouts.