Article Text
Suspended Bank. Ludington, Mich., Aug. 17.-The Commercial Savings bank, of this city, suspended business to-day. The officers will say nothing about its condition as yet.
8137. Commercial & Savings Bank (Ludington, MI)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- savings bank
- Start Date
- August 17, 1894
- Location
- Ludington, Michigan (43.955, -86.453)
Metadata
- Model
- gpt-5-mini
- Short Digest
11e9865ebfcaf28e
Response Measures
None
Description
Multiple contemporary papers report the Commercial and Savings Bank of Ludington suspended business by order of its president on Aug 17, 1894. A receiver was appointed Aug 24, 1894, indicating the bank did not resume normal operations and was closed. Later state banking report (Jan 1895) notes the president personally made depositors whole. The suspension is attributed in some reports to the bank being in a precarious/shaky condition and one report cites disagreements among the stockholders.
Events (3)
1.
August 17, 1894
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Reports state the bank 'had been in a precarious/shaky condition for some time'; one paper cites 'disagreements among the stockholders' as the reason for suspension.
- Newspaper Excerpt
- The Commercial and Savings bank... suspended business to-day by order of its president, Antoine E. Carter.
- Source
- newspapers
2.
August 24, 1894
Receivership
- Newspaper Excerpt
- Judge McMahon has appointed Frank Filer, of this city, receiver of the failed Commercial and Savings bank.
- Source
- newspapers
3.
January 25, 1895
Other
- Newspaper Excerpt
- State Banking Commissioner report: Commercial and Savings bank of Ludington... assets $178,521.78, liabilities $124,749.85; A. E. Carter, the president, has personally made good all losses to depositors.
- Source
- newspapers
Newspaper Articles (12)
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Up the Flame. LUDINGTON, Mich., Aug. 17.-The Come mercial and Savings bank suspended business to-day by order of President An. tone Carter. The officers will say nothing about its condition yet.
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BRIEFS BY WIRE. Cholera has broken out at Riga. The cases of sickness from that disease are reported by the authorities of the city. Lord Willoughbp Deersby is engaged to Miss Muriet Wilson, whose name was mentioned during the Tranby Court occurrence. The Harlan family will hold a reunion at St. Joseph, October 17. Chief Justice Harlan and other prominent members of the name will be present. The secretary of the treasury has invited proposals for striking 22,777 bronze world's fair medals. Bids will be opened at the office of the director of the mint September 5. The Japanese troops in Corea have been ordered to occupy all the passes on the China-Corean frontier, and to prevent at all hazards the entry into Corea of Chinese reinforcements. A dispatch from Vienna says that during Wednesday and Thursday there were 253 cases of cholera and 161 deaths in Galicia, and fifty-four new cases add twenty-eight deaths in Bukowina. The Lyons silk market is tremendously active, in view of the passa re of the United States tariff bill. Big orders have been placed at Yokohama for raw silk, to be worked up for the United States. A claim against the government, due the Southern Pacific for carrying the mails, has been held up pen ling adjustment of the Central Pacific indebtedness to the government. The claim amounts to $1,800,000. The effort of the railroad strikers at St. Paul and Minneapolis to secure general reinstatement was a failure. Fifty Mexicans at Brownsville, Texas, threaten to blow up the consulate at that place. They say that they are anarchists and enemies of the Mexican government. South Carolina Reform Democrats indorsed Tillman for the United States senate and nominated John G. Evans for governor and Dr. Timmerman for lieutenant governor. The Ecnadorean senate has rejected the treaty of delimitation of Peru. The population is excited and favors war with Peru. Anna Jackson. aged 18 of Carney, Ok., was shot dead by the accidental discharge of a revolver her young brothe r was trying to fix. The New York constitutional convention has decid d by a decisive majorily upon removing the $5,000 limit for damage for the loss of a life. The comm ercial and Savings bank of Ludington, Mich., suspende. business by order of its president, Antoine E. Carter. It had been in bad condition for somet me. Yesterday the payments on account of spirits taken of of bonl at St. Louis reach the en ormous figure of $258,748, while the total receipts from all internal revenue sources was $377,500. This is much more than twice the largest collection in one day that the St. Louis district has ever known. The Canard line steamer Camp inia, which arrived Friday evening at New York from Liverpool and Queenstown. left Daunt's rock at 12.45 p. m. on August 12 and arrived at the Sandy Hook lightship at 5:45 p. m. yesterday. Her time of passage was five days, nine hours and twenty-nine minutes. which beats all prev.ous records by about three hours and ten minutes. The special house committee to investigate the charges against Judge Ricks of Cleveland, Ohio, will not begin its work until congress ljourns, and perhaps not until fall. It had been intended to start upon the investigation next Monday, but a quorum is drifting away from the house so rapidly that all the members are now needed in Washington who can be persuaded to stay. Members of the committee are anxious to go into the congressional campaign and therefore may not be able to investigate until that is over.
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A BANK SUSPENDS. LUDINGTON, Mich., Aug. 17.-The Commercial and Savings bank of this city suspended today by order of its president, Autoine Cartier. The bank has been in a precarious condition for some time. The officers will say nothing about its condition as yet.
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TELEGRAPHIC NOTES. Penn Yan, N. Y., Aug. 17.-Job Ward, a prosperous farmer, was buncoed yesterday out of $3,500 by sharpers. They worked the "shell game" on him. Ludington, Mich., Aug. 17.-The Commercial and Savings Bank of this city suspended business yesterday. The bank has been in a shaky condition for some time. Chicago, Aug. 17.-Mrs. Martha Mackin, born Byrnes, the New-Orleans young woman who married the aged millionaire Thomas Mackin, of this city, shortly before his death, and who has recently been having differences with the other Mackin heirs over his fortune, was wedded last night. The new Benedict is Watson Ruddy, a well-known local politician and racehorse owner. Troy, N. Y., Aug. 17.-Yesterday while Charles A. Worden, seventeen years old, and son of a teacher in the Troy High School, was guarding his father's premises on Spring-ave. from boys who, it is said, were stealing fruit, a conflict occurred, the intruders throwing stones and young Worden responding with a small rifle, a bullet from which passed through the lung of John Noonan, aged seventeen years, and caused his death. Young Worden has been arrested. Wheeling, W. Va., Aug. 17.-Howard Radeliffe, a farmer, yesterday discovered the dead body of Major Russell lying in one of Russell's fields in Barbour County, with a rifle ball through his heart. Russell and his wife were recently tried for the murder of Mrs. Russell's mother, Mrs. Amanda Welch, by poison. They were acquitted by the jury. After the trial Russell was warned by a notice on his door to leave the country, but he paid no attention to It, other than to go armed. Kansas City, Mo., Aug. 17.-J. M. Loggan, one of the most noted incendiaries this country has ever known, was arrested early yesterday morning, just after he had set fire to the yards of the Kansas City Lumber Company. Loggan, who has been plying the torch for thirty years, boasts of his crime, and says fifteen of the thirty years have been spent in prison. He has operated for pleasure in every part of the United States. Pittsburg, Aug. 17.-Early this morning a yard watchman in the Allegheny yard of the Cleveland and Pittsburg Railway discovered the body of a man hanging from the roof of a boxcar that had arrived during the night. From Army discharges, papers and letters found In his pockets he Is supposed to be Charles Chambers, of Columbus, Ohio. Chambers had hanged himself from the car rafter by means of his handkerchief.
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DOMESTIC DOTS. Newsy Notes from All Portions of the Land Over Which the Stars and Stripes Wave. Topeka, Kan., Aug. 17.-There was a uniform movement by the strikers on the Atchison, Topeka & Santa Fe for their old places, but thus far they have met with no success. General Frey remains firm in his original position not to take any of them back and in the general offices it is not believed that he will change. Leavenworth, Kan., Aug. 17.-Miss Helen Martin, daughter of United States Senator Martin, of this state, entered the novitiate at St. Mary's Roman Catholic academy here yesterday, intending to become a nun. She recently became a convert to the Catholic faith. San Jose, Cal., Aug. 17.-Professor Campbell, of Lick Observatory, has demonstrated with the spectroscope that the planet Mars presents no evidence o: having an atmosphere. Professor Holden says if any atmospheric pressure exists, it is not as great as on our highest mountains, and thus popular fancies concerning the planet are overthrown. Buzzard's Bay, Mass., Aug. 17.-The President, with Dr. O'Reilley, reached Gray Gables at 9:35 a. m. Ottumwa, Ill., Aug. 17.-C. D. Wind. a local business man, has filed papers in a suit against Patrick Doran, of $20,000 damages for personal injury. Doran is a wealthy contractor and owns the building which Wind occupied and was a warm friend of his. About three months ago Wind got into a fight with a man and Doran rushed to his assistance. In the fight he got a thumb in his mouth and thinking it that of his friend's opponent began chewing it. It proved to be Wind's and he received such a wound that he had a bad attack of blood poisoning. He nearly died and physicians were compelled to amputate the hand. He now sues for damages. Lawrence. Kan., Aug. 17.-Ex-Governor Charles Robinson died this morning. He was born at Hardwich, Mass., and in early life was a practicing physician. In 1847 he went overland to California and became immediately a deading figure in the fight between the squatters and prospectors. He served in the legislature there and was instrumental in selecting John C. Fremont to the United States Senate. In 1854 he became agent of the Emigrant Aid society here. Columbus, O., Aug. 17.-The fusion convention of Populists and organized labor nominated the following state ticket: Secretary of state, Charles R. Martin: judge of the supreme court, E. D. Stark; commissioner of common schools, M. J. Flannery; member of the board of public works, J. S. Stewart, Preble county. Ludington, Mich., Aug. 17.-The Commercial and Savings bank suspended business today by order of President Antoine E. Carter. The officers will say nothing about its condition yet. Altoona, Pa., Aug. 17.-Bank Examiner William Miller, who has just completed the examination of the accounts of the suspended Second National bank, committed suicide today by shooting himself through the head. St. Louis, Mo., Aug. 17.-Today the payment on account of spirits taken out of bond reached the enormous figure of $258,748. According to Deputy Collector Willis this takes about all the whisky out of bond in this district. Washington, Aug. 17.-A dispatch received at the marine hospital bureau from Consul Downes announces there have been twenty-nine cases of cholera and nine deaths at Amsterdam in the rast two weeks. Alton, Ill., Aug. 17.-Sheriff George Holz today captured Conrad L. Niekoff, who is said to be a Chicago bank defaulter for $55,000. Niekoff has been looked for during the past eleven months. New York, Aug. 17.-The steamer Campania has reduced the trans-Atlantic records by nearly three hours. The
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suspended Business. LUDINGTON, Miob., Aug. 18.-The Com. mercial and Havings bank suspended business to-day by order of the president, Autoine E. Carter. The officers will any nothing about its condition yes.
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The Commercial and Savings bank, of Ludington, Mich., suspended business.
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DOMESTIC. REPORTS to the director of the mint show that since July 1 the number of silver dollars coined amounted to 833,000, of which 410,000 were coined since August 1. INTERESTING memorial services were held at the old homestead of William Cullen Bryant at Cammington, Mass. Letters were read from a large number of literary people. THE northwestern interstate fairwhich includes the states of Washington, Oregon, Idaho, Montana, British Columbia and Alaska-was dedicated with appropriate cremonies at Tacoma. J. M. LOGGAN, a notorious incendiary, who has destroyed property worth thousands of dollars, was arrested at Kansas City. FOUR Detroit (Mich.) school inspectors, charged by Mayor Pingree with having received bribes, were put under bonds of $5,000 each. ALDACE F. WALKER was appointed receiver of the Santa Fe road in the place of President J. W. Reinhart, who recently resigned. RESIDENTS of Buffalo, N. Y., saw the City of Toronto, 56 miles distant, pictured in a remarkable mirage of the third order. CHARLES GEORGET, an engineer of Hoboken, has discovered old deeds entitling him to valuable real estate in St. Louis. HEIRS of Richard Bishop in Pittsburgh will lay claim to ten acres in the heart of Indianapolis, Ind., worth $2,000,000. CHRISTOPHER BERNHARDT, of Buffalo, N. Y., aged 87, despondent over the loss of his wife, committed suicide at her grave. AT the joint convention of the populist and labor parties at Columbus, O., a state ticket was nominated headed by Charles R. Martin for secretary of state. TITUS broke two world's competitive bicycie records at Denver, riding a mile in 2:10 3-5 and five miles in 12:19. A COTTON expert estimates, after a trip over the entire state, that the crop in Texas will be about 2,500,000 bales, or one-half million bales over last year. DR. JOHN SEATON, one of the most prominent physicians and specialists of Indiana, was found dead in bed at his home at Fort Wayne. BANK EXAMINER MILLER, while temporarily insane, shot himself through tho temple at Altoona, Pa. of Ludington, THE Commercial Mich., suspended & Savings business bank by order of its president, Antoine E. Cartier. CHARLES ROBINSON, first elected governor of Kansas, died at his home in Leavenworth. DAVID HALL, of Jonesville, Va., was shot and killed by Tom Denny, 18 years old. Hall had Denny indicted for abusing his child and Denny took his revenge in the murder. THE body of Col. [Lang C. Winston. of Passadena, Cal., who was lost in a snowstorm last November while with a hunting party up the San Gabriel canyon. has been found. THE Cunard line steamer Campania, which arrived at New York from Liv9 erpool, made the passage in 5 days hours and 29 minutes, the fastest time on record. THERE were 226 business failures in the United States in the seven days ended on the 17th, against 251 the week previous and 455 in the corresponding time in 1893. THE first bale of cotton of this year's crop, from Eagle Point, Miss., was sold at auctiou in Memphis for ten cents a pound. THE exchanges at the leading clearing houses in the United States during the week ended on the 17th aggregated $790,688,185, against $774,451,986 the previous week. The decrease, compared with the corresponding week in 1893. was 8.0. BEN REED, arrested on suspicion at Terre Haute, Ind., for the murder and robbery of a man named Henderson, has confirmed his guilt. Six dollars and a half was all the money he found on his victim. W, G. TAYLOR was hanged a: New. 0 burn, Va., for the murder of his wife.
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Dilger, a saloon keeper, of Third avenue, New York. The civil service commission will ask for the removal of J. R. Taylor (colored), recorder of deeds of the District of Columbia, for soliciting campaign funds from government employes. Five thousand Italians, Hungarians and Poles gathered at the Rock Island tracks, Chicago, endeavoring to get work where only thirty men were needed. The police were obliged to disperse the crowd. Julius De Marcus, a Hebrew, and Mrs. Juliette Fournier were found shot dead together in Central park, New York; it is supposed that they were crazed with love for each other and resolved to commit suicide. The Nebraska republican convention nominated Lieut. Gov. Thomas J. Majors for governor, whereupon Edward Rosewater, editor of the Omaha Bee, resigns from the national committee and sends a letter to the convention attacking Majors. The ferryboat Fanwood of the New Jersey Central railway company sank the steam launch Alert at the end of the Liberty-street ferry-slip in New York. Three men who were in the launch were rescued by the crew of the tug R. J. Barrett. M. E. Sexton's stable at Asbury park, N. J., was burned. A number of valuable horses, the property of Gen. William J. Sewell, Gen. Rusling and others were burned to death. John Sullivan, who slept in the building, was badly burned. The loss is over $30,000. The locusts have become a serious pest in the towns of Byron, Bergen and Stafford, Genesee county, N. Y. The drouth has left no green thing for them to eat in meadows, and now the crops of beans, potatoes and corn are being destroyed. President Debs, of the American railway union, appeared before the national labor commission and recited the history of the late strike. He said it was the federal court, and not the troops, which defeated the strikers. George M. Pullman has been asked to appear before the commission. The Lockport city and Olcott electric railroad company was incorporated at Albany to construct an electric street surface road, about 20 miles long, the termini of which shall be in the city of Lockport, to the village of Olcott, on the south shore of Lake Ontario. Judge Coffey, of the probate court, California, has ordered that the daughters of the late Mrs. Theresa Fair be awarded their portions of their mother's estate. The daughters are Mrs. Herman Oelrichs and Miss Virginia Fair, of New York. They will receive a million and a half dollars each. The Clark family, father, mother, son and daughter. of Glenmore, N. J., who have robbed houses in western New Jersey, were discovered in their lair and fought two battles with constables. The men escaped, but the women and a large quantity of booty were captured. The officers of the Commercial and Savings bank at Ludington, Mich.. which suspended, say that the suspension was made on account of disagreements among the stockholders. They announce that depositors will be paid in full and that probably a complete reorganization will be effected. The Roman Catholic priests of Kansas City, Kan., have recommended to Bishop Kink that the parochial schools there be abandoned and the pupils, about 1,000 in number, attend the public schools. The movement is in retaliation of the board of education for the dismissal, as the Roman Catholics claim, of their teachers in the public schools. John Hagne, bis wife and one-yearold child started to drive from Alliance, O., to Minerva. The horses ran away. All the occupants of the wagon were thrown out. The child was killed. and Hague was fatally and Mrs. Hague badly hurt. Mrs. Hague walked half a mile and reported the abo fainted and has
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Receiver for the Ludington Bank. LUDINGTON, Mich., Aug. 24.-Judge McMahon has appointed Frank Filer, of this city, receiver of the failed Commercial and Savings bank.
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Bank Commissioner's Report. State Banking Commissioner T. C. Shersvood has submitted to Gov. Rich his sixth annhal report of the business of that department. He says that while 1894 was comparatively free from the financial panics of 1893, the shrinkage in values and general depression in business made greater care and watchfulness more necessary than ever before. There were nine new banks incorporated during the year, with a capital of $292,000. There were three failures in the state during the year, but one of which, the Com mercial and Savings bank of Ludington, was under this department's care. The assets of this bank were $178,$21.78, and liabilities $124,749.85, and to A. E. Cartier, the president, is due great honor for his having, personally, made good all loses to depositors. of three state banks in the hands of receivers, the Milford state bank depositors'have received a 15 per cent dividends during the year. Fortyfour per cent in dividends has been paid depositors of the Central Michigan savings bank and $20,480.66 is on band in cash available for a sixth dividend. The bank of Crystal Falls paid three dividends aggregating 40 per cent. Mr. Sherwood thinks there is too much, rather than too little, banking legislation, and makes a few suggestions: To prohibit a director from borrowing from his bank would be imprudent, but they should be barred from using the bank's money to the exclusion of other patrons; private banks should be prohibited from using corporate names such as "city bank" "exchange bank." etc.; building and loan associations should be placed under the supervision of the state banking department. The receipts of the department during the year were $7.769.24. and the expenses, including Mr. Sherwood's salary of $2,500, were $9,312.02.