830. City Bank (Los Angeles, CA)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: June 20, 1893
Location: Los Angeles, California (34.052, -118.244)

Metadata

Model: gpt-5-mini
Short Digest: 714b834a

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Description

Multiple June 1893 articles describe a panic-driven run (small depositors/rumors) that led the City Bank to close its doors temporarily; unlike many other LA banks that later reopened, the City Bank went into receivership and did not resume business. I mark bank type as unknown because the name lacks an explicit charter indicator. Key receivers mentioned later include Receiver Brodtbeck and W. J. Washburn; final liquidation actions continue through 1894–1898.

Events (4)

1. June 20, 1893 Run

Cause: Rumor Or Misinformation
Cause Details: Sensational street talk and rumors frightened small depositors, producing a 'senseless' or 'idiotic' run on local banks including City Bank.
Measures: Notice posted stating the bank was temporarily suspended and assuring depositors they would be paid in full; officers met with clearing-house and directors to arrange for collection of securities.
Newspaper Excerpt: the run of to-day was caused entirely by small depositors, who became scared at the talk of irresponsible persons on the street.
Source: newspapers

2. June 20, 1893 Suspension

Cause: Rumor Or Misinformation
Cause Details: Board/management posted notice of temporary suspension citing stringency of the money market and heavy withdrawals driven by street rumors and panic among small depositors.
Newspaper Excerpt: The City bank...closed their doors this...The City Bank has ample security and can pay depositors in full. A.D. Childress...says that the bank is closed temporarily in order to collect money from its loans and securities.
Source: newspapers

3. June 22, 1893 Other

Newspaper Excerpt: Promptly at 10 o'clock this morning the Los Angeles National bank opened its doors...The City bank and the University bank are also temporarily embarrassed.
Source: newspapers

4. July 1, 1893* Receivership

Newspaper Excerpt: All of the Los Angeles banks which suspended under the recent financial pressure have resumed except the City Bank. The latter has gone out of business entirely.
Source: newspapers

Newspaper Articles (22)

1. June 21, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 21, 1893

Click image to open full size in new tab

Article Text

Failure of Two Small Los Angeles Banks. DEPOSITORS WON'T SUFFER. Plenty of Assets, but Money Could Not Be Realized on Them. Other Assignments. Special to THE MORNING CALL June 20.-The University Los ANGELES, business, and Bank, which did commercial the Bank closed their doors this Yesterdsy these made an City morning. institutions Savings effort afternoon to borrow both money from the Clearing-house, but failing in this they were forced to suspend payment this morning left on and before he Saturday, President Widney for started Chicago he said that he bad deeded all his property. both real and personal, to the bank, and stated if any one loses he will. Robert Widney Jr. says that the securities overbalance the deposits three to one. A formal statement will be made in a few days. The closed City Bank has ample security and can pay depositors in full. A.D. Childress, president of the City Bank, says that the bank is closed temporarily in order to collect money from its loans and securities. He says the depositors will be paid in full. The news of the closure of the two banks spread rapidly through town and in short order a run was inaugurated on the Los Angeles National. The bank paid all demands as fast as possible. President Bonebrake made a speech assuring every depositor that his money would be paid to him. Notwithstanding the withdrawals, large sums of money were deposited in the bank bv merchants confident of its security. Runs more or less were made on every bank in town. All the savings banks are solvent and are paying money without question. There is DO excitement outside of a few small depositors, and at several banks today the receipts exceeded the payments. banks kept open conditions of the above criticism, the increased following the hours. the Two reserves banks depression of is the The having stead!ly after boom deposits Los collapse business Angeles in since 1888. and of the speculative real estate Realestate values have touched bedrock, but since the first of the year have been on the up grade, inside business property being in good demand at much higher prices than during the height of the boom. The clearances of the Los Angeles banks for this year up to the end of May show an increase of 38 per cent over 1892, as compared with 1 per cent increase in the country at large. There are nearly $11,000,000 ou deposit in the city banks. The run of to-day was caused entirely by small depositors, who became scared at the talk of irresponsible persons on the street. SAN BERNARDINO, June 20.-The finan ctal flurry in this city caused by the closing of the doors of the Farmers' Exchange Bank and of the Savings Bank of San Bernardino has subsided altogether. The streets are now perfectly quiet and no further trouble is anticipated. The Farmers' Exchange Bank has gone into the handsjof Receiver George L. Hisom, and there is no prospect that its doors will be opened again for some time to come. It is the intention of the leading stockholders to right their affairs as soon as possible and pay every dollar to the depositors. ) The public has received the failure with unusual complaisancy and but few if any ill-natured remarks have been heard in regard to it. ALBANY, Or., June 20.-The excitement over the .financial flurry has quited down. Official statements of the suspended banks' condition will show, it is stated. assets sufficient to pay depositors every dollar. EUGENE, June 20.-The Lane County Bank, owned by Hovey, Humphrey & Co., the oldest bank in the county, failed to open its doors this morning. The suspension was caused by a stringency of the money market. A notice was posted on which says: "Depositors will be No statement paid in full." the door liabilities. has yet been but made as to the assets and the depositors do not seem to have any fears. and many say if the bank should open this afternoun they would not withdraw deposits. VALLEJO, Jone 20.-The Vallejo Electric Light and Power Company has filed a petition in in-olvency in the Superior Court of Solano County. This action is said to be due to the numerous suits pending against the company, and involving many thousand dollars. Judgement in several suits has already been rendered against the concern. If the petition is granted the company will be reorganized. Sheriff Henderson has been appointed receiver, with bonds fixed at $10,000. Pendaction of the court the company their plant. as to ing will the run suspend Vallejo its in operation would mean leaving darkness

2. June 21, 1893 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

SCURRYING FOR THEIR DOLLARS. A Flurry in Financial Circles Yesterday. A Plain, Straightforward Statement of the Situation. 1911/ Close The City and University Banks From omTheir Doors Statements cers of All the Important Banks in the City. The effect of mental epidemic peculiar of evidenced yesterday by the to perfinancial was panic which seemed of the meate a certain class of patrons banks of the city. to Much of the excitement eight was due seers, that large crowde of were loafers the fact and people full of curiosity congregated about the banke. was no reason for yesterday's helped There and the people who were excitement, to cause it will admit that they mistaken before many weeks. was stated yesterday that Mr.I. from It would arrive here today stated that Hellman Francisco. It was also arrive in San large sum of coin would train a the very city this morning by special from the north. Below is given a plain, straightforward yeaterday of the situation representatives of statement and interviews with all the banks in the city. IN. MONEY COMING the rumor was circulating around amount of A yesterday that a large afterstreets had been received Monday the money from San Francisco through and was noon of Wells, Fargo & Co., it had agency said that the wagon carrying Differdown under the the broken also persons mentioned weight. different of amounts, ent and $600,000 was one figures given. With the intention of gaining upon some the facts which would throw light a HERALD authenticity of the rumor, Pridham, called upon Wm. Fargo as& sistant reporter superintendent of Wells, Co. Pridham etated that there received, had Mr. large amount of money would been a a much larger amount wagon and received. that The fact of the correct, as breaking be down, in he the said, street was outside his it had window. occurred He, however, forbade stated office rules of his company of the that the known the amount whom coin his making shipment or the persons to it was will, forwarded. however, say this," said enough he. "I know that there is at present insure a "I in bank in this city to in our money of public confidence tell you resumption institutions. I will increasing a financial in the interest of in order this feeling of security, and I do 80 have no people may see that they and I hope that whateoever for alarm, fact and cause will BOON appreciate this on the cease they their senseless runs banks." YESTERDAY'S FEATURES. Yesterday will be day often for referred years "the oldest inhabitant" a day on to by this city. It was hetter of their judgment they which hence ple got the the in feelings of many judgment,and of the became penpanic were losing in stricken that danger of and loging imagined the they hard had that earned they only eavings of years. was If enough gold in known banks that there of this city to would pay the the depositors, they not exposed all stayed at home and of the sun have themselves to the fierce fierce emotions rays which and the no less spirits until they once de racked more grasped their the gold they bad on and posit. morning dawned thought cool at Yesterday and Old Sol passions little and con pleasant, time of the fierce would look down that emotions he western flicting upon before he commenced the part of his THE journey. CITY BANK CLOSES. The strollers along Spring street ominous about o'clock caught eight of an the front notice, 10 which was pasted on It stated window of the City bank. of the "owing to the stringency deemed it that market, this bank has to temmoney interest of its depositors will be paid porarily for the suspend. The depositors A curious doors in full.' but crowd they assembled were principally onlookers around the and few amongst the deposit. were those having entertained money by the the deidlers, Little fear was their money on and the fact that brought positore of getting last clause of the confidence notice and after read **paid Home in full," discussion the crowd gradually diepersed. THE OFFICERS STATEMENTS. D. Childress, the president, etated the A. the total amount of deposits in this amount that $180,000. Of which bank there is were $28,000 of county money. $19,000 of city intact in the bank, and secured by bonds money, clearing is which isamply house and of of members of the The county money in is a the epecial individuals. untouched. deposit and The remains city and county that bank deposits aggregate to the $47,000, credit and of general book leaves $133,000 Childress said the depositore Mr. the $100,000 capital assets, are including $230,000. securities He felt sure that would be realized if even before stock, long on the and bank's that every the acaete depositor should would be ehrink paid in $100,000 full. in the securing of money. S. Park, the cashier of the the bank, bank stated John that on Monday decidedly night weak condi found itself in to the a run which had conse- been tion, owing up on it all that day. of In the di kept run 8 meeting R quence of this of J.J. Schaliert, rectors, consisting D. Childress, was called. G. Lunt and A. met and conferred wi Mon These gentlement of the clearing houseon their the officers night and stated the status The conference of day fairly to them. until 12, bank continued from 8 o'clock bank of was directors of the City fered the rities amounting to and the clearing house officials 000 in gilt-

3. June 22, 1893 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, June 22, 1893

Click image to open full size in new tab

Article Text

COMPELLED TO SUSPEND An "Idiotic" Run on Los Angeles Banks Causes a General Closing of Doors. LIABILITIES WILL BE MET Each Bank Will be Able to Pay Its Depositors in Full-Exciting Scenes on the Street. Los ANGELES. Cal.. June 21.-Four banks closed their doors to-day. They were the First National, the Southern California. the Broadway and the East Side banks. A large crowd assembled at the corner of First and Spring streets early in the forenoon. At 10 o'clock a notice was placed on the doors of the Southern California bank to the effect that the bank would not open to-day. All eyes then turned to the Los Angeles National on the opposite corner. Another large crowd was in front of the First National and the Farmers and Merchants' bank. While there had been all sorts of rumors upon the street about the former. but few people in the crowd. a large majority of whom were curiosity seekers, doubted for a moment that the doors would be open at the usual hour. But a notice was placed upon the doors of the First National to the effect that. owing to a heavy run upon the bank. amounting to over $69,000. the bank was closed by order of the board of directors. The East Side bank doors bore the following notice: "On account of not being able to cash New York and San Francisco exchange, we are compelled to close our doors. Depositors will be paid in full." A. Gerberding, one of the state commissioners, arrived here yesterday. He is now in charge of the state banks. the City and the University, which suspended yesterday. Gerberding says that, from a cursory examination of the University bank. made last night, he found that the bank owes $14,000 and has $80,000 assets. Gerberding says that idiotic would not be too strong a term to apply to the senseless run on the banks here now. as they were never in better condition. Promptly at 10 ''clock this morning the Los Angeles National bank opened its doors. A long line of depositors, stretching along the curbstone, extending north on Spring street for over 100 feet, was on hand under police escort, to take their turns in entering the bank. Just before the iron gates swung open. Major Bonebrake appeared on the steps, bareheaded as he appeared yesterday, and, addressing the crowd. said: "Not a depositor of this vault will lose a dollar of his money, for the bank can pay two dollars for one. I appeal to the depositors to have patience." The speech was greated with cheers. The bank made satisfactory terms with its depositors. The Farmers' and Merchants' bank had a strong pull on its coffers. The officers declared that they were prepared to meet any demand. President J. M. Elliott the First National said: "When this thing commenced. we had over $800,000 in cash on hand and, with our correspondent subject to check at sight. considered ourselves, from the class of paper held. in most excellent condition. The unprecedented run of the past two days, during which we have paid checks of over $600,000, was mere than we could stand. The amount of our liabilities to depositors will he somewhere in the vicinity of $1,250,000, against which we have all our bills receivable. our capital and our surplus, which will amount in the aggregate to $500,000 more than this sum." The Broadway bank. on the corner of Sixth street and Broadway, failed to open this morning. Against the glass of the door was a notice that depositors would be paid. The only liabilities are call deposits of $12,000; certificates of deposit due in September. $10,000; total. $22,000. The bank's commercial loans, well secured. I amount to $40,000. and other securities to f $20,000, making a total of $60,000.

4. June 22, 1893 The Seattle Post-Intelligencer Seattle, WA

Article from The Seattle Post-Intelligencer, June 22, 1893

Click image to open full size in new tab

Article Text

Los Angeles Business Troubles. Los ANGELES, June 21.-Several banks in Los Angeles, including the First National, the Southern California, the Broadway and East Side, have temporarily suspended payment. The assets in all cases largely exceed the liabilities, and depositors will be paid in full. The City bank and the Universe bank are also temporarily embarrassed.

5. June 22, 1893 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

from says missioner Gerberding a cursory examination of the University bank made last night he found that the $140,000 and has $300,000 88bank to ow68 pay bank it sets it with. At the is stated that nothing will be done until the of President about Friday or expected return Widney, Saturday. which Mr. Gerberding save that "idiotic" would not be too strong a term to apply run on the were never in a to now, the as senselees they really banks here better condition. STATE LOAN AND TRUST COMPANY. The officials of the State Loan and Trust company, in the Bryson block, in to a reporter's queries, said are able to pay every they reply perfectly "We dol- not lar owe on demand. are a run, our experiencing they much though heavier demande of depositors are than usual. We have had two men since yesterday busy all the time in letting out deposit boxes, and they are all being rapidly taken. Of course is that is where the money in going. There was $900,000 money that went but yeaterday from the banks whether it has gone into safe deposits or into stocks. [takei con"that the Firet NaSouthern wise and tinued tional did and the official, the conservative California acts Na- in their doors will not do 80 for a tional not and opening they this few morning, daye, until this excitement quells." PRESIDENT FRANKENFIELD SAYS ALL IS SAFE President Frankenfield of the California bank said they were experiencing nothing unusual at that bank but were prepared for a run if it was to come: that they had ample aggets on hand to pay all that demanded their money. SECURITY SAVINGS BANK. J. F. Sartori, cashier of the Security Savings bank, stated that they had 8 few depositors call and take advantage of clause to get money, these were but the that time excepting few their there for coin. He the bad all the money no demanda bank claimed that necessary there that to demand, but coin still on its way which soon arrive. was meet more would every They here, were from 8 a.m. and thought that open p.m., yesterday the until present 5:30 agitation was about over. THE COUNTY MONEY. A rumor gained some circulation yesterday afternoon that there was some trouble about the county funds on special deposit in the City bank. The rumor no doubt, from a visit paid to District the arose, bank by Upon Attorney investi- Dillon the afternoon. an of the rumor it during gation without foundation. Receiver appeared Brodt- to who be beck informed a HERALD reporter called to see him that while there had not been a thorough examination of the of the bank, he ized that the county yet accounts to say funds felt author- were secured. At did not have more time completely the bank funds the deposit. present than of the county's on before the The $20,000 day suspension lineof the Mr. Childress had set apart a best in the bank as sefor this fund, were securities curity and trustee additional they for the placed in the hands of & on benefit of the county. The cash bank would be first applied to of the hand the in payment the county balance money, to be and if there was a email raised it would be easily done by the secureties already received for that purpose. Mr. Brodtbeck also said that Mr. had told him that the depositbe paid in full, he would turn estate to Childress necessary ors personal would accomplish in and his that that entire end. if CHECKS ARE ACCEPTABLE. Mayor T.E. Rowan and G.A. Dobinson have issued notice that they would receive checks on the First National for real estate, and Would then reduce their prices 25 per cent as well. This and seven or eight other notices to a similar effect will be found published in another column. All these go to show that the financiers there is no danger final know to that depositors, should of loss and go a long ways towards restoring.confidence. THE COUNTY MONEY SAFE. A certified statement of the money belonging to the county of Loa Angeles is given in another column. It states the amount to be $352,852.21, and that it is amply secured.

6. June 22, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, June 22, 1893

Click image to open full size in new tab

Article Text

of the First National was to the effect that owing to the heavy run upon the bank amounting to over $60,000, the bank was closed by order of the board of directors. The East Side bank doors bore the following notice: "On account of not being able to cash New York and San Francisco exchange, we are compelled to close our doors. Depositors will be paid in full." A. Gerberding, one of the state commissioners, arrived here yesterday. He is now in charge of the State bank, the City and University, which suspended yesterday. Mr. Gerberding says from a cursory examination of the University bank made last night he found that the bank owes $14,000 and has $30,000 assets. Gerberding says idiotic would not be too strong a term to apply to the senseless run on the banks here now, as they were never in better condition. Promptly at 10 o'clock this morning the Los Angeles National bank opened its doors. A long line of depositors, stretching along Curb street and extending north on Spring street for over 100 feet, were on hand under police escort, to take turns in entering the bank. Just before the iron gates swung open, Major Bonebrake appeared on the steps bareheaded as he

7. June 23, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, June 23, 1893

Click image to open full size in new tab

Article Text

LOS ANGELES TROUBLE. During the Crisis $8,000,000 Was Withdrawn from the Banks. Los ANGELES, Cal., June 22.-The financial situation is more encouraging, $250,000 in coin was received yesterday after business hours and the Farmers' and Merchants' bank this morning reeived $250,000 more, opening its doors with over $1,000,000 in its vaults, which as believed to be more than enough to meet all demands. It is estimated that $8,000,000 was withdrawn from the banks during the crisis. So far there has been no mercantile failures. Everything was quiet and peaceful in banking circles all of today. There was but a slight run on the Los Angeles National bank as the line of depositors was greater than that of the withdrawers, and there was quiet at all the other banks. Confidence is restored and a good many people who withdrew funds have deposited them. All banks received large sums of money, and even the six closed banks received some. President Elliott of the First National bank made a statement in which he said that the bank would resume business as soon as the bank examiner arrived and gave his sanction. It is expected that the other banks will soon resume except, possibly, the City bank which is in the hands of a receiver.

8. July 19, 1893 Arizona Weekly Journal-Miner Prescott, AZ

Article from Arizona Weekly Journal-Miner, July 19, 1893

Click image to open full size in new tab

Article Text

All of the Los Angeles banks which suspended under the recent financial pressure have resumed except the City Bank. The latter has gone out of business entirely.

9. August 2, 1893 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

THE CITY BANK. The Depositors Still Find Some Things to Kick At. The committee appointed by the depositors of the City bank has, it is said, made an agreement/with their attorneys by which said attorneys are to receive 10 per cent on all collections made from the stockholders. As stockholders to the amount of about $50,000 will pay without litigation this will give the attorneys a fee of some $5000 to start with. Several of the depositors who were in the combine are quite indignant and claim the fees of the attorneys as fixed by the committee are too large, and will not ratify their action and have hired other attorneys to look after their interests, at a much more economical fee in these hard times. A petition to throw the bank into involuntary insolvency has been filed and hearing fixed for September 16th. There will also doubtless be other petitions filed to force the insolvency of the bank and thereby remove the present receiver, the depositors claiming that his appointment was made by the ass'stance of the officers of the bank and at their request. The removal of the receiver will be an interesting procedure. It is further claimed that in order to lay the foundation for further proceedings against the officers of the bank it must be shown that the bank is insolvent and other matters connected with the bank management must be elucidated. The names of many prominent attorneys are found as debtors to the bank, which shows that the management was not averse to loaning to the legal profession.

10. August 12, 1893 The Herald Los Angeles, CA

Article from The Herald, August 12, 1893

Click image to open full size in new tab

Article Text

The Assets Likely to Be Further Reduced. Depositors Preparing to Remove Receiver Brodtbeck. An Arizona Irrigation Scheme Which Figures in the Case. A Claim That the Receiver Was Not Properly Appointed-A Big Claim Against the Available Assets. From Thursday's DAILY HERALD The authority of Receiver Brodtbeck of the City bank will be called in question probably on Saturday or early next week by the attorney for the depositore. It appears that there is hardly any room for doubt that Mr. Brodtbeck was is not properly appointed. He, it claimed, was appointed under one complaint and is acting under another, on which no summons has ever been issued. This matter will be fully inquired into in the proceedings which will soon be commenced. ANOTHER TANGLE. The hopes of the depositors in thelate City bank for recovering any considera ble portion of their depesite are far from being sanguine, nor as the time passes do their chances appear to be heightened to any great extent. In fact, every week seems to reveal some part of the assets as void, and various means upon which the depositors relied to helpserve the reimbursement fund are found to be faulty. and the situation appears worse now than several weeks ago. A petition, which materially affects the present email amount of assets in the receiver's hands, was filed in depart ment five the superior court last Monday, and awaits only the return of Judge Shaw from his vacation before being formally argued and presented by councel. It is a complaint in intervention by James B. Rice, and was incorported to the complaint in the original case of Margaret E. Miller VB. the City bank by an order issued by Judge Smith. The complaint in intervention asks that the Court order the receiver to pay at once to the complainant the sum of $1230 intact. already held by the City bank as trustee, together with certain notes and papers to the value of over $60,000, reserving such sum as may be due the bank for its services as truetee. The reason alleged by the complaint why that sum should be had now and not be classed among the ordinary comby mercial deposits received in the course of business, is that it was held in trust ne by the bank. and trust accounts are never held in the general banking fund and are entitled to the preference over ordinary accounts. If the order is granted by the court, it will take exactly $1230 out of the fund that the depositors thought was intact and would be used in liquidating their claims. That this new move will not meet with universal pleasure goes without comment. The complaint is the outcome of an Arisona irrigation deal started eight years ago. In that enterprise, Louis Wolfley Bend, dam Gila saw possibility ofse irrigating system over Burrounding country. He engaged several parties in the project, and sold several hundred thousands of dollars' worth of water right to the settlers along the line. Finally he could not go ahead with the work. and a party of rich Peoria, III., people stepped in and offered to finish the system. He agreed to give them sufficient notes collected from the settlers to reimburse them for the work: also to meet wall actual expenditures, with a corresponding value in the notes. He made mortgage, in the form of a trust deed, for the dam site, which he gave to the City bank to hold as trustee. In order to further secure the Peoria people be gave notes to the value of between $60, 000 and $70,000. In its office as trustee the bank was to collect from the settlers the interest 05 other money accruing on the notes, and to be heid in trust. It was further provided that if Wolfley failed in his contract with the Peoria people the bank. a trustee, was to sell the property at Gila Bend. During the period of a year the sum of $1230 interest on the notes was paid into the bank. Wolfley failed in his contract with the Peoria people, and the property is to be sold August 26th, with the result that they will buy it all in and in time develop a fortune. The present action 86 brought by Mr. James M. Rice of the Peoria company which is known Arizona Construction company, to compel the payment of the $1230 interest to his company. The item in the receiver's report ap. pears simply as "City bank trustee, $1230." Mr. A. D. Childress has made affiavit, which is attached to the comlaint, that both the $1230 interest and he package of papers were held by the ank as trustee. The $1230 is so enred on the bank's books. Mr. H. o. Colline, the attorney of the izona Construction company, was en yesterday by a HERALD reporter. Colline stated the reasons for drawthe complaint in intervention as en above. He said that the matter the payment of the $1230 would probnot be decided by Judge Shaw il he had carefully considered the e. As to the papers, he thought that re would be no contest made over m. DEATH OF MRS. JONES.

11. September 14, 1893 Lincoln County Leader Toledo, OR

Article from Lincoln County Leader, September 14, 1893

Click image to open full size in new tab

Article Text

OCCIDENTAL NEWS. Minister Sues His Congregation for Damages. APACHES OFF THEIR RESERVE. More Complications in the Failed City Bank at Los AngelesAn Old-Style Suicide. A contest is on at Olympia for title to Steamboat Island. The Fraser river salmon pack is the 'dn and теле largest The Apaches are again off their reservation. The news has just been brought to Tombstone, A.T. Tillamook (Or.) hoodlums put in their evenings cutting the legs and tails from cats and enjoying their miserable death. The four national banks at Portland which closed their doors recently are declared solvent, and they may soon resume business. The Succor mine in Gold Hill (Nev.) district has discovered that the Justice mine has been taking ore from its ground, and a heavy suit for damages is likely to follow. Rev. David S. Taylor, ex-minister of the First Congregational Church at Sansalito, Cal., has brought suit against his former congregation for damages amounting to $3,262.50. The Olive Orchard Company at Sacramento is going in the business on a large scale. A contract to place 11,000 trees on the ground the coming season has been entered into. More complications are developed in the affairs of the failed City Bank at Los Angeles, and a complaint charging fraud has been entered against parties connected with the bank. At Victoria, B.C., the Printers' Union has reduced the scale of newspaper work 10 per cent. Machine hands will get $22 per week; hand compositors, night, 45 per 1,000; day, 40 cents. William Young, who threw a lighted oil lamp at Irene Mansfield at Los Angeles, causing death from the frightful burning she received, has been found guilty of manslaughter on the third trial. The Washington National Bank at Tacoma has been placed in a receiver's hands. An attempt was being made to get it out of the Comptroller's hands when the latter checkmated the bank officials. The present progress of the Southern Pacific extension justifies the expectation that the road will reach San Luis Obispo in six months and make a through route to the East in six months after that time. Pasadena by popular vote has conferred upon the City Council the right to enforce the planting of shade trees, the proper trimming of hedges and the eradication of weeds from the streets. The negligent property owner is to be brought up with a round turn. The bills of the Stanford University are being paid, and back salaries are only remembrances. Mrs. Stanford finds it necessary to practice the most rigid economy in order to keep the institution open during the present financial stringency, and many of the employes have necessarily been dismissed. The Southern Pacific will dispense with baggagemen on the Los Angeles division between Los Angeles and Yuma; also probably on some of the shorter runs. Wells-Fargo express messengers

12. September 14, 1893 The Herald Los Angeles, CA

Article from The Herald, September 14, 1893

Click image to open full size in new tab

Article Text

THEY DO NOT WANT THE MONEY The Citizens, and University Banks Return County Coin. They Decline to Keep It on the Special Deposit Plan. A Complication of Affairs in Consequence of the Proceedings Against the City Bank-WIII the Other Banks Follow Suit? "Take your -- gold and cartitaway, if I can't use it." The above sensational words were used by T. D. Stimson. the millionaire president of the Citizen's bank, about a week ago in connection with the county money on deposit in his bank. He had at the time some $28,000 of the county money in the bank, and sent it all back to the county treasury. It all came about through the lines that are being drawn closer around the handling of county funds since the failure of the City bank. The law requiring the county money deposited in the banks to be treated as a special deposit has been very publicly discussed lately, and Mr. Stimson arrived at the conclusion that if he could not pay it out in the ordinary run of business as any other money he would rather not handle it at all. He seized the opportunity in returning the money to crystallize his sentiments in the terse sentence before quoted. Bat he is not the only banker who has arrived at the conclusion that he does not wish the county funds under the conditions imposed by law. The University bank, of which R. M. Widney is president, three days ago adopted the same policy, and returned to the treasury $25,000 of county funds on deposit in that bank. The bank gave as the reason for returning the money that they are unwilling to certify that they hold the county money as a special deposit. This change in the policy of two of the well known banking institutions of the I city makes a decidea revolution in the way bankers are coming to look at the question of county funds deposite. It has been kept very quiet, and it was only yesterday that the news of the action of the two banks was ascertained. Just what effect, if any, it will have on the course of other banks has not developed. Up to the present time they are the only ones which have declined to continue receiving the money as special deposits. After it was returned to the county treasury the $53,000 was redietributed among the other clearing house banks in the ratio adopted heretofore. These banks now have about $250,000 t of county money. The amount rarely ) goes below that eum, and frequently goes above $400,000. If all the banks which now hold the money should do as the Citizens' and ) University banks the county coin would not any longer be in the vaults of the I banks where it has the same protection as that afforded by all banks, but would 1 be piled up in the county treasury vault. The situation is quite an interesting one. prominent banker, in speaking about the matter yesterday afternoon, said that he believed the county funds are much safer in the banks, which neces) sarily provide the very finest safes and vaults for the etoring of large amounts of coin, than it would be in the treasury vault.

13. September 15, 1893 The Lebanon Express Lebanon, OR

Article from The Lebanon Express, September 15, 1893

Click image to open full size in new tab

Article Text

Minister Sues His Congregation for Damages. APACHES OFF THEIR RESERVE. More Complications in the Failed City Bank at Los AngelesAn Old-Style Suicide. A contest is on at Olympia for title to Steamboat Island. The Fraser river salmon pack is the largest ever put up. The Apaches are again off their reservation. The news has just been brought to Tombstone, A. T. Tillamook (Or.) hoodlums put in their evenings cutting the legs and tails from cats and enjoying their miserable death. The four national banks at Portland which closed their doors recently are declared solvent, and they may soon resume business. The Succor mine in Gold Hill (Nev.) district has discovered that the Justice mine has been taking ore from its ground, and a heavy suit for damages is likely to follow. Rev. David S. Taylor, ex-minister of the First Congregational Church at Sausalito, Cal., has brought suit against his former congregation for damages amounting to $3,262.50. The Olive Orchard Company at Sacramento is going in the business on a large scale. A contract to place 11,000 trees on the ground the coming season has been entered into. More complications are developed in the affairs of the failed City Bank at Los Angeles, and a complaint charging fraud has been entered against parties connected with the bank. At Victoria, B.C., the Printers' Union has reduced the scale of newspaper work 10 per cent. Machine hands will get $22 per week; hand compositors, night, 45 per 1,000; day, 40 cents. William Young, who threw a lighted oil lamp at Irene Mansfield at Los Angeles, causing death from the frightful burning she received, has been found guilty of manslaughter on the third trial. The Washington National Bank at Tacoma has been placed in a receiver's hands. An attempt was being made to get it out of the Comptroller's hands when the latter checkmated the bank officials. The present progress of the Southern Pacific extension justifies the expectation that the road will reach San Luis Obispo in six months and make a through route to the East in six months after that time. Seven San Francisco Chinamen, knowing Tacoma was anti-Chinese, became frightened while being driven from the Portland train to a boat at the wharf at Tacoma at the sight of crowd assembled at a fire. Without waiting to consult the driver of the gurney they cut the straps on the doors and, breaking them open, ran back to the depot and hid. They left their baggage behind. At Hot Creek, Nye county, Nev., Richard Gluyas, superintendent of the Hot Creek and Rattlesnake Mining and Milling Company, an Eastern corporation, committed suicide. He went to the mill and set fire to thirty cords of wood, climbed onto it and shot himself. He was entirely cremated, only two small pieces of bone and the fragments of a pistol being found. He left a will disposing of his property. In 1872 the exports of prunes from California amounted to nothing. So rapidly has the industry grown since that date that last year the exports of this fruit from California reached 30,000,000 pounds. Numerous orchards are coming into bearing year by year, and still more are being planted. This as regards California. In conversation with fruitmen from Oregon we find that orchardists in certain sections of that State have caught the fever and are planting prune trees by tens of thousands. So with Idaho horticulturists. Right and left these same fruit trees are being set out, and as in all these localities named this fruit thrives and yields abundantly, one can imagine the condition of this industry in coming years. Here is something for planters of new orchards to consider. Another attempt may yet be made to rescue thesteam collier San Pedro, which went ashore near Victoria nearly two years ago. This time the Moran Bros. of Seattle have taken the matter in charge, and if they find that it will be worth while to try and save the San Pedro, they will make one final effort to do so. The Southern Pacific Railroad Company, which is the owner of the San Pedro, has, it is said, been in correspondence with the Moran Bros. for some time. The company is anxious that the San Pedro shall be saved. She cost nearly $250,000, and it will be a heavy loss to the company if she is not recovered. However, the company does not care to spend a lot of money in removing the collier from her present quarters and then find that she has been down 80 long as to become absolutely worthless. In order to determine her value the Southern Pacific has arranged with the Moran Bros. to make a personal inspection of her.

14. September 16, 1893 The Hood River Glacier Hood River, OR

Article from The Hood River Glacier, September 16, 1893

Click image to open full size in new tab

Article Text

OCCIDENTAL NEWS. Minister Sues His Congregation for Damages. APACHES OFF THEIR RESERVE. More Complications in the Failed City Bank at Los AngelesAn Old-Style Suicide. A contest is on at Olympia for title to Steamboat Island. The Fraser river salmon pack is the largest ever put up. The Apaches are again off their reservation. The news has just been brought to Tombstone, A. T. Tillamook (Or.) hoodlums put in their evenings cutting the legs and tails from cats and enjoying their miserable death. The four national banks at Portland which closed their doors recently are declared solvent, and they may soon resume business. The Succor mine in Gold Hill (Nev.) district has discovered that the Justice mine has been taking ore from its ground, and a heavy suit for damages is likely to follow. Rev. David S. Taylor, ex-minister of the First Congregational Church at Sausalito, Cal., has brought suit against his former congregation for damages amounting to $3,262.50. The Olive Orchard Company at Sacramento is going in the business on a large scale. A contract to place 11,000 trees on the ground the coming season has been entered into. More complications are developed in the affairs of the failed City Bank at Los Angeles, and a complaint charging fraud has been entered against parties connected with the bank. At Victoria, B.C., the Printers' Union has reduced the scale of newspaper work 10 per cent. Machine hands will get $22 per week; hand compositors, night, 45 per 1,000; day, 40 cents. William Young, who threw a lighted oil lamp at Irene Mansfield at Los Angeles, causing death from the frightful burning she received, has been found guilty of manslaughter on the third trial. The Washington National Bank at Tacoma has been placed in a receiver's hands. An attempt was being made to get it out of the Comptroller's hands when the latter checkmated the bank officials. The present progress of the Southern Pacific extension justifies the expectation that the road will reach San Luis Obispo in six months and makea through route to the East in six months after that time. Sacramento has voted to use well water instead of water from the Sacramento. Nearly 3,000 votes were polled. The water comes from a subterranean stream, the source of which apparently is some mountain lake, and is known to have carried live trout in it as far as the wells east of the city. Seven San Francisco Chinamen, knowing Tacoma was anti-Chinese, became frightened while being driven from the Portland train to a boat at the wharf at Tacoma at the sight of crowd assembled at a fire. Without waiting to consult the driver of the gurney they cut the straps on the doors and, breaking them open, ran back to the depot and hid. They left their baggage behind.

15. September 20, 1893 The Herald Los Angeles, CA

Article from The Herald, September 20, 1893

Click image to open full size in new tab

Article Text

THE COURTS. Cases on Trial Yesterday and New Suite Filed. Judge Van Dyke yesterday continued the motion for alimony in the divorce case of M. J. Morgan ve. T. W. Morgan to September 21st. Judge Van Dyke yesterday denied a motion for a new trial in the case of the Glendora Irrigation district V8. the Glendora Water company. Chae. Koebelin, a native of Germany, was admitted to citizenship yesterday by Judge Van Dyke. Judge Shaw yesterday granted judg. ment for plaintiff in the case of Lewis B. Reed vs. the city of Los Angelee. There were several arraignments before Judge Shaw yesterday, sitting in department one, and the times for the various defendants to plead were continned to September 21st and September 25th. Yesterday Judge Shaw granted divorces to Mre. Farrow from her husband Mr. Farrow, and Mrs. S. Eddy from S. Eddv. The cases were both by default and on the grounds of desertion and failure to provide. Judgment for plaintiff was granted by Judge Shaw yeaterday in the case of J. A. Brown V8. F. Cowley, a suit to quiet the title to certain land. NEW CASES. Preliminary papers were filed in the county. clerk's office yeaterday in the following new cases: A petition in insolvency was filed yesterday by Fred M. Smith, who was R clerk and stockholder in the City bank to the extent of $10,000, and whose failure is caused by the suspension of the bank. His liabilities are $21,114 8 87, and assets $14,918.33. L. A. Rice V8. J. Marion Brooks-Suit for foreclosure for $1400 on a promissory note and mortgage. Petition by Simon Rosenberger for probate of the will of Helen Rosenberger, her estate being valued at $25,500. F. M. Douglaes vs. Clara Rose Becker -Suit to quiet title to lots 1. 4. 5. 10, 11, 12, 13, 14, 15, 20, 21, 23 and 24, block A, Bennie Highland tract No. 2. D. B. Milliken VS. Cook & LangleySuit for $739.92, balance due on ac count. Elizabeth E. O'Connell vs. M. E. Frankel, administrator, et al- Suit to quiet title to southeast quarter of northeast quarter of section 12, township 3 south range 12 weet.

16. November 27, 1893 The Herald Los Angeles, CA

Article from The Herald, November 27, 1893

Click image to open full size in new tab

Article Text

certain that we shall have an easy and a liberal money market, and it requires no explanation to show what that means to the prosperity of this city and of the whole state. We shall not have "money to throw to the birds," as one enthuslast puts it, but there will be ample funds to be had on adequate security and at fair rates of interest for the legitimate development of the whole state. A precisely similar state of things exists in Los Angeles. Our savings banks have given notice that all who desire to do 80 can get their money, although the law allows the banks to keep it in their vaulte until the first of January. The facts of the financial situation are well understood in this city. The depositor, knowing that he can get his money, as usual does not want it, preferring to leave it in a place of safety, where he can make something out of it. In Los Angeles as in San Francisco, after the publication of the January bank statements showing how impregnable our institutions are, a more liberal policy will characterize our banks. This is the more probable because the large disbursements involved in paying our taxes will have been made. The financial history of Los Angeles during the last twenty years has been quite unique. During that period we have had but two bank failures, that of Temple & Workman, in 1875, and the City bank, in the recent panic. Both were unexampled instances of mismanagement. The former followed upon the heele of the failure of the bank of California in 1875, and the latter was a new bank which was run in violation of all the canons of banking. These have been the only instances of the failure of a bank in the history of our young city. The first of January statements of the banks all over California will be looked forward to with great interest, and there is every reason to believe that they will make the best showing in the history of the state, and that their splendid exhibit will be followed by an era of great progress and prosperity.

17. April 17, 1894 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

PAID IT OVER. THE COUNTY AND CITY TREASURERS GET THEIR MONLY From Out of the Late City Bank Maddie-The Successful Outrome Due to Mcsars. Goo. H. Stewart, and Others. After months of dreary waiting the matter of the city and county moneys, involved in the City bank collapse, has been finally adjusted by the amounts being paid over to the respective treasurers by the bondemen vesterday. It is a story of hard and tireless application, or rather financiering on the part of Mr. George H. Stewart of the Bank of America, Mr. W. J. Washburn, receiver of the City bank, and George I. Cochran. attorney for the latter bank. It consisted in nothing less than harmonizing the 40 bondsmen and 10 banks interested and getting them to make good the deficiency in city and county money caused by Mr. Childrens' meethods of financiering. The three gentlemen have been at work on the scheme for several months past, and are certainly to be congratuated on the ERCCESS of their labore. At the time the City bank was bowled over there was a deposit of $18,215 of the city's money and $22,911 belonging to the county. The morning the bank closed Mr. Childress took about $30,000 worth of securities to the Bank of America and turned them over to Mr. Geo. H. Stewart to secure these two deposits. Of course they did not cover the depoeits, but went a long way toward doing 80. The action on the part of Mr. Childress naturally caused much adverse comment, and also led to euite be ing instigated against Mr. Stewart to turn the securities over for the benefit of the depositors. Mr. Washburn, after his appointment as receiver. conceived the idea of harmonizing the discordant elements which, if successful, would result to the advantage of the bank. Suits had been brought for the city and county money, and the receiver had also brought action againt Mr. Stewart to compel him to turn over the securities. Seeing that the defense of two and prosecution of the last of these actions would result in the absorption of what little of the bank's funds that remained in bis hands. Mr. Washburn eaw Mr. Stewart, and the two with Mr. Cochran went to work the bondsmen. After several months they succeeded in getting them to agree to go down in their pockets and pay the deficiency. The securities held by Mr. Stewart will probably realize about $20,000, which leaves a loss of a cool $20,000 to the bondsmen of the treasurers. The money was paid over to the city and county treasurers yeaterday by checks on the State Loan and Trust company. Speaking of the affairs of the City bank, Receiver Washburn, while declining to state exactly how much the de positors would be paid, declared that already there WAS over 10 per cent on hand which they would receive. He added that the liabilities had been decreased from $180,000 to $125,000.

18. June 12, 1894 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

# CITY BANK LITIGATION. Judge Van Dyke Renders an Important Decision. Judge Walter Van Dyke of the superior court yesterday rendered an important opinion in the case of George M. North vs. W. T. Childress et al., a case which has been pending for some time. The action was against the defendants as stockholders of the defunct City bank, and was brought for the purpose of recovering from them severally, under the provisions of the constitution and the code with reference to the individual liability of stockholders of corporations. The defendant John J. Schallert contested the claim, and the action was tried as to him only. In the opinion filed by Judge Van Dyke he says that one of the objections raised on the part of the defendant was that the complaint alleges the City bank was indebted for money had and received for the use of the plaintiff, without setting out the terms of the contract, and that no demand for payment is alleged; and fails to allege that the plaintiff was the assignee of the right to maintain an action against the stockholder, the allegation being that the claim against the City bank was assigned. These contentions are held to be not good by the court. It was further contended by the defendant that the plaintiff failed to show that the City bank was a corporation, and this the court also holds was untenable. In regard to the denial by the defendant that the other defendants own stock as alleged, the court holds that such denial is immaterial for the purposes of this action, the defendant's liability being measured by the constitution, and does not depend upon the ownership by others of any particular amount of stock, but upon the whole amount of stock subscribed or issued, which in this case is admitted. The court concludes as follows: "There is nothing in the defendant's contention that the assignment of a claim against a corporation is not an assignment also against the stockholder. Debts contracted by the corporation are also debts contracted by the one who holds stock in the corporation at the time, and each stockholder is personally liable as a principal debtor for his proportion of the corporate debts contracted while he is a stockholder, and the right accrues against the stockholder at the same time as against the corporation. This has been uniformly held in this state, both under the old constitution and under the present, and in this respect the provision is similar in both. There being but one claim, the assignment of that claim carries with it the right of action not only against the corporation, but also against the stockholder liable for debt. It results from the foregoing: First-That the City bank was shown to be a corporation as stated in the complaint, and that the amount of capital stock subscribed and issued was $100,000 and no more. Second-That the defendant Schallert at the times mentioned in the complaint held stock in said corporation to the amount of 110 shares. Third-That the corporation, the City bank had and received for the use of the plaintiff the amount of money as stated in his complaint, and had and received for the use of each of the assignors of the plaintiff the several amounts as in the complaint stated. Fourth-That these amounts had and received for the use of these several assignors were duly assigned to the plaintiff as stated in the complaint. Fifth-That the City bank closed its doors and ceased to transact business, and continued so to cease to transact business, as alleged in the complaint; and that the several sums of money became due and payable to the plaintiff and his assignors as therein stated, and were at the commencement of this action due, owing and unpaid to the plaintiff. That the plaintiff is, therefore, entitled to findings and judgment accordingly. ANOTHER OPINION. Another branch of the City bank litigation was settled by Judge Shaw in an opinion filed by him yesterday in the case of Margaret E. Miller vs. the City bank. In this case the Northwestern Mutual Life Insurance company and J. M. Rice intervened and filed petitions asking to have liens declared on the assets in the hands of the receiver, for the payment of the sum of $1230 and $30,654, which the bank received in trust for the assignor of the petitioner Rice and for the insurance company, respectively. It was admitted that the funds were received in trust and were used by the bank in its business. After discussing the various points raised by the intervenors the court holds: "The trust funds being all mingled together, it is to be deemed that the loans were made in equal proportion out of all the funds on hand at the time, and each owner will be entitled to a charge on the respective loans in the proportion which his fund bore to the whole fund at the time the loan was made." The court works this out as follows: Mr. Rice is entitled to a charge on all loans made from trust funds from January 5th to January 20th, in the proportion of 200 to 48,000; on all loans from trust funds from January 20th to May 10th, in the proportion of 1230 to 48 000. The overdrafts were mostly made after May 10th, and the charge upon the overdrafts will be in the same proportion as last given. The insurance company is entitled to a lien on the proceeds of overdrafts and checks above named, as made after June 14, 1803, in the proportion of 306 to 48,000. An order was made in accordance with the views of the court. Kern City Goid. The latest gold discovery is almost at home-that is, near Bakersfield, says Californian. Mr. Crumley of Kern city

19. July 28, 1895 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

Filed With the County Clerk W. J. Washburn, receiver of the City Bank, vs. Ralph Rogers; suit to recover $12,685.88, costs, etc. on promissory notes given in 1892. Richard Mercer vs. Orris C. Knox and Jane C. Knox: complaint on foreclosure of mortgage given in 1892 for $900. W. A. Barker vs. Delbert E. Barton; suit to recover $1,054.81 on a promissory note and foreclosure of mortgage. Security Loan and Trust company vs. Eilis Foy. Truxton Beale, Neenach Irrigation district et al.; complaint for foreclosure of a mortgage for $600.

20. August 16, 1896 The Herald Los Angeles, CA

Article from The Herald, August 16, 1896

Click image to open full size in new tab

Article Text

e III Ex-Banker Again Making Himself Heard CHARGED CRIMINAL WITH Serious Allegations Made by His Employers HE BETRAYED HIS TRUST Accused by a Stockholder of the Vandercook Wine Company Took Money Belonging to the Company for His Own Use Also Appropriate: the Forms of the Company Which He Turned Over to a Business Rival What Promises to Be an Ugly Scandal A. D. Childress, who will be remebered in this city as the head and front of the defunct City bank of thiscity, which went to the wall during the last financial panic. has again been heard from. After the failure of his bank Childress was made the manager of the local clearing house. which position he held for some weeks. This appointment caused some adverse criticism, and Childress finally resigned, saying that he had been offered and had accepted a responsible position in San Francisco. He then left the city with his family, and nothing has been heard from him since, except from time to time reports have reached Los Angeles that he was doing well and fast recouping his broken fortunes. The following from the San Francisco Call of Friday, however, would seem to indicate that Childress is again in trouble, with the prospect of figuring in the courts in anything but a favorable light Criminal libel is a charge that A. D. Childress, formerly resident and manager of the now defunct City bank of Los Angeles, will probably be called upon to answer. in addition to the accusations of fraud and embezzlement that by were recently brought against him the W. A. Vandercook Wine company a suit for $1200 filed in the county clerk's office. Certain letters that have just come to light will be made the basis of the libel charge. Coming as they do on the trail of the charges that were made against Childress in connection with the City bank, the matter is of more than passing interest. After the failure of the Los Angeles corporation and the subsequent legal difficulties in which Childress and his associates became involved over the transaction. he came to San Francisco, in January 1895. became identified and with the W. Vandercook Wine company in the capacity of secretary. The ex-bank president had influential connections, through whom the eastern drafts of the company on its many agents could be cashed without the delay of waiting for remittances from the east, and such accommodations were just what the company needed at the time So Childress was made secretary and bookkeeper. Up to August of last year Mrs. W. A. Vandercook, who was one of the principal shareholders in the company. was satisfied with the manner in which Childress' end of the business was conducted. and believing implicitly that his reports of the flourishing condition of affairs were correct. "One day when asked to Bee the books. however, says Mrs. Vandercook, Childress refused me any information, and I began to be suspicious. I insisted on detailed statement. telling him that I thought he had drawn more money than he was entitled to. This he admitted. promising. however, not to take more until profits had accrued. so that he could do so under the terms of his agreement. About a month after that he violated that promise, and I censured him for so doing. Then he threatened to wreck the business if I made any further complaint, A saying that could and would doso. few days later, seeing that he could not continue taking money that did not belong to him, he left the company, taking with him lists and addresses of our numerous eastern customers. He took copies of all our printed forms, originated and used by Mr. Vandercook in the business, and entered Harris, Kingston & Co.'s.a competing house on a small scale, getting into that firm through his knowledge of the Vandercook company. "Lacking the power to originate, he copied all our business forms. order blanks, etc., which are entirely different from those of any other company, even of going so far as to use the same kind paper and wording them similarly. Then he wrote to our agents s through out the country on the stationery and over the signature of Harris, Kingston & Co., in such a vindictive and libelous manner that several of our agents : sent the letters to us. advising us to prosecute him for criminal libel. "I thought until the latter part of his connection with the company that he was an honest man. as he was plausible and was always talking of his own honesty and the dishonesty of Southern California people in general. At any rate, he must settle with the courts for taking money that did not belong to him, for y don't propose that the money he took from this company shall be used to pay for the house furniture and lawns of such a man. A.D Childress and his brother W.' Childress owned 494 of the 500 shares in the City Bank of Los Angeles. They borrowed $25,000 from the First National bank of this city on an unsecured note shortly after forming the Pacific Investment company and deeding their propto that corporation. erty The First National bank in its suit against the Childresses alleged that these deeds were not genuine nor placed record, but merely held to be proon duced in the event of attachments by creditors of the bank. complaint further alleged that the bank The magnates were insolvent when the deeds were made. Since coming north A D. Childress has been in minor as well as major legal

21. August 1, 1897 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

Dinner at the Van Nuys W. J. Washburn entertainedthe members of the committee appointed by the creditors of the late City bank with a dinner at the Van Nuys last Monday evening. The committee met in the afternoon and extended formal thanks to Mr. Washburn, the receiver of the bank, and to John T. Jones and Allen & Flint, attorneys, for the capable and skillful manner in which the liquidation of the bank's affairs had been conducted, and the meeting adjourned to the Van Nuys. Among those present, besides those alreadly mentioned, were: Messrs. O Pooley, D. R. Weller, B. Gordon, E.W. Grannis and I. L. Lowman.

22. February 4, 1898 The Herald Los Angeles, CA

Article from The Herald, February 4, 1898

Click image to open full size in new tab

Article Text

Court Notes A federal grand jury was ordered yesterday, returnable on the 9th inst. William J. Washburn, receiver of the City bank, filed his final report with Judge Shaw, and was discharged from further duties and liabilities as such. In Bothwell vs. Bothwell, a suit for divorce, Judge Allen yesterday ordered that until the trial on February 25 the plaintiff pay defendant $15 per week alimony instead of $25.