Broadway Savings Bank (St Louis, MO)

Episode Information

Episode UID
8211895290953
Episode Type
Run → Suspension → Closure
Bank Type
savings
Bank ID
821189529 hash
Start Date
May 22, 1879
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e6b2d2e7b3cd6e0d

Response Measures

None

Description

The bank suspended following heavy withdrawals and allegations of mismanagement/embezzlement by the cashier, J. Philip Krieger, Jr.

Events (4)
1. May 22, 1879 Run
Cause
Bank Specific Adverse Info
Cause Details
Withdrawal of $100,000 in deposits and reports that directors worked against the bank's interests.
Newspaper Excerpt
The principal reason for suspension is said to be the withdrawal of about $100,000 of deposite since May 1
Source
newspapers
2. May 22, 1879 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals and internal mismanagement/embezzlement by the cashier.
Newspaper Excerpt
The Broadway savings bank closed its doors this morning in accordance with a decision reached by the directory at a late hour last night, and made an assignment to John Dierborger.
Source
newspapers
3. May 24, 1879 Other
Newspaper Excerpt
A warrant for his arrest was issued on the 24th... Cashier, J. Philip Krieger, Jr., who is charged with the misuse of the bank's funds to the amount of $250,000.
Source
newspapers
4. June 3, 1879 Receivership
Newspaper Excerpt
Judge Boyle has appointed J. M. Franciscus... to fill the position [of assignee]. Mr. Francicus... will take charge of the affairs of the defunct bank immediately.
Source
newspapers

Newspaper Articles (19)
1. May 22, 1879 Daily Press and Dakotaian Yankton, SD
Article from Daily Press and Dakotaian, May 22, 1879

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tive and judicial appropriation bill, agreed to concur in the senate amendment and instructed Chairman Atkins to report the bill with a recommendation that it pass. TELECRAPHIC BREVITIES. SUNDAY SCHOOL ANNIVERSARY. New York, May 22.-The'Brooklyn Sunday School Union celebrated its 50th anniversary to-day with exercises, a grand parade and bauquet. The various churches were decorated. WM. LOYD GARRISON DYING. New York, May 22.-The death of Wm. Loyd Garrison is hourly expected. LIBERAL CONTRIBUTION. Boston, May 22.-The widow of Daniel P. Stone has given $25,000 to the Young Men's Christian Association, towards the erection of a new building. Several other persons promise liberal contributions. SAVINGS BANK ENJOINED. Lowell, Mass., May 22.-The five cent savings bank has been temporarily enjoined by the bank commissioner. The withdrawal of deposits and the shrinkage of mortgages is the cause. ADJOURNED. Albany, Mav 22.-The legislature adjourned to-day sine die. BANK FAILURE. St. Louis, Missouri, May 22, 1879.The Broadway savings bank closed its doors this morning in accordance with a decision reached by the directory at a late hour last night, and made an assignment to John Dierborger. The principal reason for suspension is said to be the withdrawal of about $100,000 of deposite since May 1, but a report is current that some of the directors of the bank have worked &gainst the interests of the concern, which aided materially in bringing about the failure. The liabilities are put at about seven hundred thousand dollars. The assets cannot be stated, but the president of the bank says that depositors will be paid in full, and there will be something over for the stockholders. Considerable excitement existed among depositors to-day, and there has been quite a crowd about the bank all morning, but it has been orderly. Depositors in some other savings institutions felt some uneasiness, and there have been rumors of runs, &c., but none have yet occurred. THE PRESBYTERIANS. Saratoga, May 22.-In the Presbyterian assembly the question of work among the freedmen was discussed and the necessity of an educated ministry among them urged by the speakers, both white and colored. TRIED FOR AN OLD CRIME. New York, May 22.-Wm. E. Grey, well known in Wall street a decade ago, and recently extradited from England. was placed on trial to-day on the charge of forgery, on an indictment found December 12th 1869. 8

2. May 22, 1879 Public Ledger Memphis, TN
Article from Public Ledger, May 22, 1879

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ST. LOUIS. Savings Bank Suspended-Consequent Excitement. ST. Louis, May 22.-The Broadway Savings Bank closed its doors this morning in accordance with a decision reached by the directory at a late hour last night, and made an assignment. The liabilities are put ) at about $700,000. The assets cannot be stated, but the president of the bank thinks the depositors will be paid in full and that there will be something over for the stockholders. There is considerable excitement among depositors today, and there has been quite a crowd at the bank all morning, but it has been orderly. Depositors in some other savings banks felt some uneasiness, and there have been rumors of runs, etc., but none have yet 00curred.

3. May 22, 1879 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, May 22, 1879

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MISSOUR! ST. LOUIS, May 22.-The Broad way Savings Bank was closed this morning in accordance with the decision reached by the directors at a late hour last night and made assignment to John Dierborger. The principal reason for the suspension is said to be the withdrawal of about $100,000 of deposits since May 1st, but the report is current that some of the directors of the bank have worked against the interests of the concern which aided materially in bringing about the failure. The liabilities are estimated at about $700,000; the assets cannot be stated, but the president of the bank thinks depositors will be paid in full and there will be something over for stockholders. Considerable excitement existed among depositors to-day and there has been quite a crowd about the bank all the forenoon but it has been orderly. Depositors in some other savings institutions felt some uneasiness and there have been rumors of runs, etc., but none have yet occurred. A fire this morning in the Flaven Printing Co's. establishment, on Pine street between Second and Third, damaged the concern about $20,000.

4. May 23, 1879 Evening Star Washington, DC
Article from Evening Star, May 23, 1879

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THE BROADWAY Savings bank, of St. Louts, closed its doors yesterday, and made an assignment. The liabilities are put at about $700,000, but the assets cannot be stated, though the president claims depositors will be paid in full, and that there will be something over. A large withdrawal of deposits is assigned as the rea. son for suspension.

5. May 23, 1879 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, May 23, 1879

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A Savings Bank Closed. St. Louis, May 22.-The Broadway savings bank closed its doors this morning, in accordance with tha decision reached by the directory at a late hour last night, and made an assignment to John Dierborger. The principal reason for the suspension is said to be the withdrawal of about one hundred thousand dollars in deposits since May 1st, but there are reports current that some of the directors of the bank have worked against the interests of the concern, which aided materially in bringing about the failure. The liabilities are about $700,000; the assets cannot be stated, but the president of the bank thinks that depositors will be paid in full.

6. May 23, 1879 Daily Globe Saint Paul, MN
Article from Daily Globe, May 23, 1879

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Savings Bank Failure at St. Louis. ST. LOUIS, May 22.-The Broadway Savings bank closed its doors this morning, in accordance with a decision reached by the directors at a late hour last night, and made an assignment to John Dierberger. The principal reason for the suspension is said to be the withdrawal of about $100,000 of deposits since May 1st, but there are reports current that some of the directors of the bank have worked against the interests of the concern, which aided materially in bringing about the failure. Liabilities foot up about $700,000. The assets cannot be stated, but the president of the bank thinks depositors will be paid in full and then be something over for the stockholders. Considerable excitement existed among depositors to-day and there has been 8 erowd about the bank all the morning, but it has been orderly.

7. May 23, 1879 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, May 23, 1879

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Suspension of a Savings Bank. ST. LOUIS, May 22.-The Broadway Savings Bank closed its doors this morning, and made an assignment to John Dierborger. The principal reason for the suspension is said to be the withdraw al of about $100,000 of the deposits since May 1, but there are reports current that some of the directors of the bank have worked against the interests of the concern, which aided materially in bringing about the failure. The liabilities are put at about $700,000.

8. May 26, 1879 Daily Globe Saint Paul, MN
Article from Daily Globe, May 26, 1879

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SUSPECTED BANK CASHIER. A Defalcation of $200,000 Charged Against Cashier Krieger of the Broken St. Louis Savings Bank. [Special Telegram to the Globe.| ST. LOUIS, May 25.-Howard Houghton, one of the victimized patrons of the Broadway Savings Bank, swore out a warrant at a late hour yesterday for the arrest of Phil. Krieger, Jr., cashier of the institution. Deputy marshals have been scouring the city, but have not been able to get on the track of the man. His family say he left home at 8 o'clock telling them he was going down town. Krieger has been rendered almost demented by the bank troubles and it was learned that his friends had had him confined for some days in a private mad house within the past month. One theory to account for his absence is that he has fled from the city. Another, and that which his friends most fear, is that he has committed suicide. The warrant charges him with embezzling funds of the bank to the amount of $200,000. The excitement among depositors continues intense and threats of life taking are freely made against the directors. The Kriegers are among the wealthiest and best known Germans of St. Louis. I Western Associated Press.] ST. LOUIS, May 25.-J. P. Kreiger, Jr., cashier of the suspended Broadway Savings' bank, for whose arrest for embezzling funds of the bank a warrant was issued yesterday, is not found yet. Kreiger is charged with embezzling from $100,000 to' $250,000 of the bank's money. His arrest was ordered by the directors of the bank, not by the depositors as previously stated.

9. May 31, 1879 Chariton Courier Keytesville, MO
Article from Chariton Courier, May 31, 1879

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of silver at Brownwood, 120 miles south- the west of there. An assay of ores proves vein to be rich. Many claims have been 10cated, and there is a prospect of a genuine silver craze. Captain W. R. Hoel of the United States the beacon-light steamer Lily, living near village of Waynesville, a short distance from Cincinnati, had for some time suspected his wife of holding improper relations with Dr. J. B. Hough, his family physician. On the night of the 22d Captain Hoel left home, ostensibly for Cincinnati, but returned and concealed himself in his his house. In the morning he surprised in wife and Dr. Hough, who were together the parlor, and drawing a large sized revolver fired at Hough, but without effect. He then began clubbing the Doctor with disthe pistol, and while doing so it was charged, the ball entering Hoel's heart, killing him instantly. Dr. Hough Is seriously injured. Absalom W. Ford was hanged at Lake of Charles, La., on the 23d, for the murder Dr. Joseph Bazee in Junelast. He displayed the utmost coolness upon the scaffold, His last words were God have mercy upon me." Mr. Thomas Allen has undertaken to de- rebuild the Southern Hotel at St. Louis, stroyed by fire over two years ago, in consideration of receiving a bonus from adjacent of property holders and others interested about $130,000. The cost of the new building will be about $600,000. The scarlet fever epidemic in Evansville, Ind., has reached grave proportions, 36 new cases being reported within a single week, and not less than 600 or 700 cases having occurred since the disease assumed an epidemic form. About half the children have been withdrawn from the public schools, and hundreds have been sent away to escape the ravages. Indian Jack was hanged at Shasta, Cal., in the 23d, for the murder of a Chinaman September on last. Jack preserved his Indian stolidity and died without struggle. The assignee of Archbishop Purcell and of Cincinnati has filed a schedule of assets liabilities of the Archbishop and his brother, Edward Purcell. The total amount of claims of is $3,697,651.49; total assets, $1,181,659.47, which amount $418,536.28 is classed as doubtful or worthless. The St. Louis Exposition will open this on Monday, Sept. 22, and the Fair on year Monday, Oct. 6, both to close on Saturday, Oct. 11. The premiums offered aggregate $50,000, $5,000 being for military displays and contests. There is no charge for com- The petition or room in any department. Veiled Prophets' pageant and procession will come off on Tuesday night, Oct. 7. It is said that a controlling interest in the Missouri, Kansas and Texas Railroad has been secured by the Chicago, Burlington and Quincy Railroad Company, through stock recent large purchases of M. K. and T. by leading shareholders in the C., B. santici- and Q. No present change in management pated. The St. Louis Broadway Savings-bank have failure, upon investigation, proves to the been caused by grossmismanagement on Jr., of the Cashier, J. Philip Krieger, part who is charged with the misuse of the bank's funds to the amount of $250,000. A warrant for his arrest was issued on the 24th, and a number of suits have been begun by bank. depositors against the other officers of the At Monroeville, O., on the 24th, Cahan Maloney shot and wounded Bridget Murphy, him. his sweetheart, for refusing to marry fired refused to be arrested, and W. shots into the crowd, a telegraph operator, shot Maloney several Crane, mortal when Maloney wound. D. through the breast, inflicting a The young woman's injuries are not serious. The mail-propeller Ramos, running the Calcasieu River, La., was capsized by on a sudden squall on the 24th, when There a short distance below Lake Charles. and were on board, besides the Captain follows: engineer, six passengers, named as Bird Lucien Denaine of Galveston, J. C. of Cameron Parish, two little sisters, Zora and Medora Pithon, aged 10 colored and 12 of Calcasieu Parish, and a and her woman, years, named Josephine Hawkins, and enchild, aged 2 years. The Captain gineer swam ashore, but none of the passengers could swim, and all were drowned. EAST AND SOUTHEAST. The Colored Convention held recently forth at Richmond issued a memorial setting length the alleged wrongs and grievances series of at the colored people, and adopted a colored of resolutions recommending the for people of the State to organize a society and Judicial Departments of the State a the purpose of petitioning the Legislative for

10. June 1, 1879 The New Orleans Daily Democrat New Orleans, LA
Article from The New Orleans Daily Democrat, June 1, 1879

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Assignee of the St. Louis Broadway Savings Bank. ST. LOUIS, May 31.-Dierberger was appointed assignee of the Broadway Savings Bank immediately after its suspension, but was objected to by the depositors of the bank and resigned the position to-day, and Phillip Stock was appointed in his place. A

11. June 4, 1879 Daily Globe Saint Paul, MN
Article from Daily Globe, June 4, 1879

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Suit for the Recovery of School Funds. Sr. LOUIS, June 3.-The board of public schools has brought suit against the sureties of J. B. Krieger, Jr., late cashier of the Broadway Savings bank, who was also treasurer of the school board, to recover $72,000 school funds in his hands, deposited in the Breadway Savings bank when that concern suspended.

12. June 4, 1879 Daily Press and Dakotaian Yankton, SD
Article from Daily Press and Dakotaian, June 4, 1879

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TELEGRAPHIC BREVITIES. OBITUARY. New York, June 4.-James Orton Woodruff, projector of Woodruff's scientific expedition died this morning of brain discane. RECEIVER APPOINTED. St. Louis, June 3.-The person who was appointed by the circuit court n few days ago assignee of the Broadway Savings bank, having failed to qualify within the preper time. Judge Boyle has appointed J. M. Franciscus, for many years connected with the banking house of Haskel & Co., to all the position. Mr. Francicus gave bond as once for half a million and will take charge of the affairs of the defunct bank imme. dintely.

13. June 4, 1879 Wheeling Register Wheeling, WV
Article from Wheeling Register, June 4, 1879

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CREAM OF THE NEWS. Gathered from our Dispatches. Bismarck wishes to establish quadronnial for triennial meetings of Parliament. A fire in the Woburn, Mass., chemical works, last night, caused a loss of $70,000. It was insured. A. W. Weeks, book-keeper for the company fell into a pool of vitriol and was fatally burned. Séveral others were burned with the vitriol. The St. Louis Board of Public Schools has brought suit against the securities of J. P. Krieger, Jr., late cashier of the Broadway Savings Bank, who was also Treasurer of the school board, to recover $72,000 school funds in his hands and deposited in the Broadway Savings Bank W hen that concern suspended. Baron Lionell, Nathan De Rothschilds, chief partner in the banking firm of Rothschild & Co., London, is dead. Subscriptions to the four per cent refunding certificates since yesterday's report $1,133,420.

14. June 4, 1879 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, June 4, 1879

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The Broadway Savings Bank Swindle. ST. LOUIS, June 3.-The board of public schools has brought a suit against the sureties of J.P. Kreiger, late cashier of the Broadway Savings Bank, who was also treasurer of the school board, to recover $12,000 school funds in his hands and deposited in the Broadway Savings Bank when that concern suspended.

15. June 5, 1879 The Leavenworth Weekly Times Leavenworth, KS
Article from The Leavenworth Weekly Times, June 5, 1879

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-The board of public schools of St. Louis has brought suit against the sureties of J. P. Krieger, jr., late cashier of the Broadway Savings bank, who was also treasurer of the school board, to recover $72,000 of the school funds in his hands and deposited in the Broadway Savings bank when that concern suspended.

16. June 6, 1879 Evening Star Washington, DC
Article from Evening Star, June 6, 1879

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SUIT FOR SCHOOL FUNDS.-The St. Louis school board has brought suit against the sureties of J. P. Krieger, jr., late cashier of the Broadway Savings Bank, for $72,000 school funds deposited in the bank before its suspension.

17. June 7, 1879 Lexington Weekly Intelligencer Lexington, MO
Article from Lexington Weekly Intelligencer, June 7, 1879

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The United Statés Savings Bank, of St. Louis closed its doors last Monday. The failure of the Broadway Savings Bank,a few days previously, had caused a run to be made upon this bank, with the above result.

18. July 31, 1879 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, July 31, 1879

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today while endeavoring to recover an anchor at the battery, the air tube having burst. Sr. LOUIS, Mo., July 31. - J. P. Krieger, Senior President of the defunct Broadway Savings Bank, has been arrested on a charge of embezzlement, in connection with the alleged frauds committed by officers of that institution. He gave bonds and was released. INDIANAPOLIS, July 31.-A shooting affray occurred at a farm, the residence of Lucas Covert, near Columbus, Indiana, at the breakfast table yesterday morning, between his sons Henry and Aleck, in which Henry was instantly killed and Aleck mortally wounded. HARRISBURG, July 31.-The Governor has pardoned Dennis F. Canning. of Schuylkill, convicted of conspiring to commit murder several years ago, in conjunction with Jack Kehoe and other Mollie Maguires. Canning was sentenoed to 14 years' imprisonment. BROCKVILLE, July 31.-Miss Hugel, aged eighteen, and sister, aged five, were drowned in the St. Lawrence, while bathing. Martin, Republican member of the House from North Carolina, says the Sherman boom is gaining in that State, and he thinks Sherman would have a stronger delegation to the National Convention than Grant. Judge Isanc C. Collins, a prominent lawyer of Cincinnati, died on the 29th of heart disease. At East Farrington, Wisconsin, on the 19th, John Kranz, a farmer, drove into a lake to water his horses, and the animals becoming frightened, ran into deep water, upsetting the wagon and drowning Kranz and five children. The sixth swam out. The eldest was a girl, seventeen years old. The Exchange Bank of St. Louis has gone into liquidation. All depositors will be paid in full. The eighteenth annual session of the National Educational Association commenced at Philadelphia on Tuesday. The Chicago Jockey Club announces two running meetings for next year, one in July and one in August.

19. September 4, 1879 The Cincinnati Daily Star Cincinnati, OH
Article from The Cincinnati Daily Star, September 4, 1879

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CIRCLE OF CITIES. News Notes Gleaned and Garnered by Star Special Reporters. Louisville. FOUND DEAD - FLORAL DISPLAY - AN OLD CABIN, ETC. Special to the Star. LOUISVILLE, Sept. 4.-Major Hugh Brent Kelly, of the Louisville Commercial, was found dead in his room last night. He was thirty-six years old and highly esteemed. To-night is set for the floral display at the Exposition, and the exhibit is already beautiful. At the intersection of Seventh street and Salt River Road there stands a dilapidated log hut that was built when Kentucky and Virginia were one and the same vast wilderness. Thomas Fry, ten years old, had his lower jaw bone broken and several teeth knocked out yesterday by a vicious horse's kick. Detroit. PREPARING FOR THE PRESIDENT THIEBAUD'S SPUNKY CHALLENGE. Special to the Star. DETROIT, Sept. 4.-Arrangements for the reception of President Hayes on the 18th are all complete. After the State Fair he will address the grangers. Thiebaud Bauer, the Graeco-Roman wrestler, who had a personal encounter with Col. McLaughlin in the opera house the other night, challenged the Colonel for a mixed wrestling match for $1,000 a side in an inclosed room, in the presence only of the umpire, press and judges. Columbus. LIVELY SET-TO - DISAPPOINTED BRIDE-FEMALE BALLISTS, ETC. Special to the Star. COLUMBUS, O., Sept. 4.-Nick O'Hara and Lon Ingalls had a lively fight over a buggy trade last night, in which the latter was badly beaten. A wedding was to have taken place Tuesday evening in the family of a prominent resident on South High street. The preparations were all made, and the family in waiting, but the male half of the bridal pair came not. It has caused a decided sensation. Two girls, remnants of the female base ball troupe, were around the depot all day yesterday, and last night succeeded in getting transportation East. George H. Brown, a six year man from Miami County, convicted in November, 1875. of forgery, was pardoned by the Governor yesterday. Pittsburg. EXPOSITION OPENED-TOW BOAT SUNK-DEHAN'S INQUEST. Special to the STAR. PINTSBURG, Sept. 4.-The Pittsburg Exposition was formally opened this evening by speeches from Congressmen Bayne and Ex-Congressman Hopkins. The tow-boat Tiger, owned by J. W. Clark, sprang a leak near No. 1, Monongahela River, at midnight last night, and sank in twelve feet of water. Loss, $5,000; no insurance. The crew all escaped. An inquest was held this morning on the body of Prof. Dehan, shot Tuesday night. The verdict was shot by some person to the jury unknown. Baur, the hired man, swore he did not do the shooting, but he is still held. St. Louis. TRIPLETS - STRIKERS - WALKERS - SAD SUICIDE, &C. Special to the Star. ST. LOUIS, Sept. 4.-Mrs. James Murphy, of Biddle street, yesterday gave birth to triplets, two of which died since. Four hundred striking cigar-makers have gone to work, and about one hundred are still out. The coopers are still firm, and hold meetings every morning. A walking match will be held at St. George's Hall for the benefit of Memphis sufferers, all the contestants being prominent saloon keepers. The receiver of the Broadway Savings Bank will pay a dividend to depositors early in October of about 20 cents on the dollar. Mrs. Estelle Johnson, wife of Charles P. Johnson, Ex-Lieutenant Governor of Missouri, committed suicide at her residence, 1,507 Chestnut street, by taking a dose of arsenic. Mental aberration, produced by the death of one of her children, a few months ago, is supposed to be the cause. The deceased was the only daughter of Thomas Parker of Washington, and was married to Gov. Johnson in 1861.