Western Bank & Trust Company (Dallas, TX)

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DALLAS BANK FAILS

Savings Institution Could Not Raise Enough Ready Cash. Dallas, Tex., January 16.-The Western Bank and Trust company of Dallas, the largest savings bank in Texas, has been placed in the hands of Henry D. Lindsley, with instruction to administer the affairs of the institution for the interest of its creditors. Officers of the bank declare that while on October 1 it was in the best of condition of its history, a quiet run has prevailed since that time, and to meet it they have paid out over $900,000. After sacrificing all of their quick assets and finding the remainder hard to dispose of under present financial conditions, they decided to make an assignment. The bank had a capital of $500,000 and over 4000 savings depositors. Its total liabilities are $1,054,104.53. A complete schedule of the assets has not been filed, but officers of the bank declare that depositors will lose nothing. There is some doubt, however, about the fate of the accounts of other creditors.

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Texas Bank Suspends

Dallas, Tex., Jan. 16.-The Western Bank and Trust Company, capitalized at $500,000, passed into the hands of an assignee last night. Heavy withdrawais since the panic is given as. a reason. Liabilities are given as $1,054,104, assets not given, but It is stated that the bank will pay out in time. The bank is a private institution.

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DOORS ARE CLOSED WESTERN BANK AND TRUST COMPANY'S AFFAIRS IN HANDS OF ASSIGNEE. APPEAL TO THE COURT Three Depositors File Involuntary Petition in Bankruptcy Against Institution-Involves a Large Number. Dallas, Texas, Jan. 17.-As a result of the continual drain on the resources since the financial troubles began several months ago, the Western Bank and Trust company failed to open its doors yesterday morning. Action of this kind was discussed at a meeting of the Dallas Clearing House association held Wednesday afternoon, but final decision was not reached until after the situation had been thoroughly canvassed at another session held that night. Henry D. Lindsley, who has been named as assignee by the officers of the bank. was asked if he had any statement of any character to make. He said that outside of schedule filed there was nothing to give out, but expressed the hope and belief that every depositor of the bank would be paid in full. Of course it will take some time to do this. as some of the assets given in the schedule are in such a shape that it will take time to realize on them. The total liabilities of the institution as shown by the schedule filed in the office of County Clerk Gaston are $1,054,104.53. The total assets are not given in this schedule as the list had not been completed when the paper was filed. There are more than four thousand depositors with the bank and there are very few who have any large amounts on deposit. According to the schedule filed and the statement of Mr. Lindsley and others who have been connected with the institution. this bank does not owe a cent to any other bank in this city, and none of the other institutions are affected by the assignment of the Western Bank and Trust company. Since the money tightness began it is stated that more than $175,000 was paid out by the bank to depositors who had saving accounts in the bank while about $900,000 had been withdrawn by those who had checking accounts at this bank. It was stated yesterday that the entire private fortune of both Mr. Fleming and Mr. Templeton had been pledged towards securing the depositors. Mr. Fleming's private estate, it is said, will amount to about $750,000 gross and will bring at least $500,000 net. By the assignment filed with the county clerk the Western Bank and Trust company shows its assets to be $1,054,104.53. In the assignment it is stated that there are 4,613 savings deposit accounts, aggregating $366,624.64, and that the average balance of all savings deposits is $79.40. Among the larger depositors are: International Text Book company (pay roll), $3432.17; Interstate Amusement company, St. Louis, $1251; I. Jalonick, general agent, $2204.12; Park Hotel, $1,302.11; Postal Telegraph-Cable company, $2002; Trinity Valley Trust company, $2531.69. There are, of course, many depositors mentioned, but all of the amounts are under the figures given above. In the itemized statement, the total of bills receivable is given at $503,797.69 in which amount is included several overdrafts and notes of various character. Among the larger of these are mentioned: Realty Loan and Investment company (several items), total $122,000 M. Grossman et al. $9500; D. A. Templeton, overdraft and notes, (three loans), $127,000; Trinity Valley Trust company $6000; Houston White Brick company (two items), $20,600; F. S. Thompson, $10,000; W. C. Witwer and others, $10,700; American Railway and

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Trust Company Assigned

Dallas, Tex., Jan. 17.-The Western Bank and Trust Co., capitalized at $500,000, has passed into the hands of an assignee. Heavy withdrawals since the recent financial disturbance is given as a reason. Liabilities are given as $1,054,104, with assets not given.

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MISCELLANEOUS

In a terrific ten hours' engagement in a ravine near Settat, Morocco, between a French column under the command of Gen. d'Amade, and a column commanded by Mulai Rachid, one of the chiefs of Mulai Hafid's forces, the French gained a splendid victory in the face of heavy odds. succeeding in dispersing the enemy and occupying Settat. Edward S. Whitaker, inspector of police in New Orleans, fired two shots at J. M. Leveque, editor of the Morning World, because that paper had criticised him severely. After one of the bitterest fights in its existence the New York county Republican committee adjourned without having indorsed Gov. Hughes or any other candidate for the presidential nomination. The Western Bank & Trust company of Dallas, the largest savings deposit bank in Texas. was placed in the hands of a receiver. all its quick assets having been exhausted by a long run. The British ship Hartfield, from Liverpool to Seattle. is believed to have gone down with all on board off the west coast of Vancouver island. A petition in bankruptey was filed at Denver, Col., by Orman & Crook, railroad contractors. The total liabilities are given as $741,136 and the total assets as $1,282,771. Mrs. Lydia K. Bradley, one of the richest women in Illinois, died at Peoria, III., aged 92. She was particularly known for her philanthropy. having endowed the Bradley Polytechnic institute. John C. Guinn. a millionaire mine owner, 65 years old. was severely beaten and robbed at his home in Georgia City, Mo., by robbers who first cut the telephone wires. H. R. Drew, a prominent real estate man and one of the pioneer residents of Mineapolis, Minn., died. E. H. Harriman was directed in a decision given by Judge Hough in the United States circuit court to answer all questions propounded to him by the interstate commerce commission except those relating to the purchase of the Union Pacific and Southern Pacific railroad stock in connection with the dividend of August, 1906. The Lake Carriers' association, in convention at Detroit, Mich., placed itself on record as opposing the diversion into the Chicago sanitary canal of water enough to make it a commercial waterway. Fire in East St. Louis destroyed an elevator, a grain storehouse and some freight cars, the loss being $150,000. Mrs. Eliza Matsen of Duluth, Minn., confessed that she murdered her husband. Ezekiel Gregory. an aged farmer. was slain by his son in a quarrel near Davidson, N. C. Misses Annie and Maggie Wade, sisters, of Oak Park, III., went insane at Ocean park, near Los Angeles, Cal., as a result of the financial de. pression. The British steamer Tolesby was wrecked on Cape Race, the crew be. ing saved. Two members of the Japanese cabinet resigned and the resignation of all was narrowly averted, the trouble being over the budget. Smoke entering the Nixon theater at Pittsburg, Pa., started a panic that was quieted by the efforts of a detective. Vandals have stolen and ruined $25,000 worth of pictures, furniture and bric-a-brac in the home of F. P. Earle in New York. Mr. Earle is in Italy. Robert Maclay & Son, members of the New York stock exchange, failed for $1,500,000. Secretary Taft has written a letter to the president recommending an in crease of the width of the Panama canal locks from 100 feet, as at present planned, to 110 feet. Emmett R. Olcott, a well-known

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Broke a Texas Bank, Dallas, Tex.-The Western Bank & Trust company of Dallas, the largest savings deposit bank in Texas, has been placed in the hands of a receiver, Henry D. Lindsley, with instructions to administer the affairs of the institution for the interest of the creditors. Officers of the bank declare that while on October 1 it was in the best condition of its history, a quiet run has prevailed since that time, and to meet It they have paid out over $900,000.

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Big Dallas Bank Fails

Dallas, Tex.-The Western Bank & Trust Company of Dallas, the largest savings deposit bank in Texas has been placed in the hands of Henry D. Lindsey, assignee, with instructions to administer the affairs of the institution for the benefit of its creditors. Officers to the bank declare that while on October 1 it was in the best condition of its history, a quiet run has prevailed since that time and to meet it they have paid out over $900,000. After sacrificing all of their quick assets and finding the remainder hard to dispose of under pres ent financial conditions, they decided to make an assignment. The bank had a capital of $500,000 and over four thousand savings depositors.

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TEXAS BANK IS IN TROUBLE LARGEST SAVING INSTITUTION IN LONE STAR STATE makes ASSIGNMENT. DALLAS, Tex., Jan. 20.-The Western Bank and Trust Company of Dallas, the largest savings deposit bank in Texas, has been placed in the hands of Henry D. Lindsey, with instructions to administer the affairs of the institution for the interests of the creditors. Officers of the bank declare that while on October 1, it was in the best condition of its history, a quiet run has prevailed since that time and to meet it they have paid out over $900,000. After sacrificing all of their quick assets and finding the remainder hard to dispose of under present financial conditions, they decided to make an assignment. The bank had a capital of $500,000 and over 4,000 savings depositors. Its total liabilities are $1,054,104.53. A complete schedule of the assets has not been filed, but officers of the bank declare that depositors will lose nothing. There is some doubt, however, about the fate of the accounts of other creditors.

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Big Dallas Bank Fails

Dallas, Tex.-The Western Bank & Trust Company of Dallas, the largest savings deposit bank in Texas has been placed in the hands of Henry D. Lindsey, assignee, with instructions to administer the affairs of the institution for the benefit of its creditors, Officers to the bank declare that while on October 1 it was in the best condition of its history, a quiet run has prevailed since that time and to meet it they have paid out over $900,000. After sacrificing all of their quick assets and finding the remainder hard to dispose of under pres ent financial conditions, they decided to make an assignment. The bank had a capital of $500,000 and over four thousand savings depositors.

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FINANCIAL no Jan

2-State Bank, Rockyford, Col., closed doors. 6-Four big New York diamon d firms forced into trustee's hands: liabilities. $4,500,000 S-Chicago Great Western railroad JOHN placed in hands of receivers. 16-Western Bank ROCKBFELLER) and Trust Co., Dallas, Tex., largest Texas saving bank. placed in receiver's

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FINANCIAL Jan

2-State Bank, Rockyford, Col., closed doors. 6-Four big New York diamond firms forced into trustee's hands; liabilities, $4,500,000. 8-Chicago Great Western railroad JOHN placed in hands of D. receivers. ROCKEFELLER 16-Western Bank and Trust Co., Dallas, Tex., largest Texas saving bank. placed in receiver's

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Taa $ Jan

2-State Bank, Rockyford, Col., closed doors. 6-Four big New York diamond firms forced into trustee's hands: liabilities, $4,500,000. 8-Chicago Great Western railroad JOHN placed in hands of Q receivers. D. ROCKSFELLED 16-Western Bank and Trust Co., Dallas. Tex., largest Texas saving bank, placed in receive

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FINANCIAL Jan

2-State Bank, Rockyford, Col., closed doors. 6-Four big New York diamond firms forced into trustee's hands; liabilities, $4,500,000. δ-Chicago Great Western railroad placed in hands of JOHN receivers. D. ROCKEFELLER 16-Western Bank and Trust Co., Dallas, Tex., largest Texas saving bank pleased in

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APPLY FOR MANDAMUS HOGUE WAS CONVICTED Of Perjury In the Federal Court at To Compel Attorney General DavidDallas-Committed to Jail to son to Approve Issue of Bonds Await Sentence. From Hidalgo County. (Herald Special.) (Herald Special.) Austin, Texas, May 28.-Application Dallas, Texas, May 27.-The jury in for mandamus was filed in the suthe United States district court this afternoon about 4 o'clock returned a preme court today to compel Attorney. General Davidson to approve an issue verdict of guilty in the case of W. J. of $175,000 bonds of Hidalgo county, Hogue, charged with perjury. Hogue was at once committed to the Dallas which Assistant Attorney General Sluder refused to approve, holding county jail as a federal prisoner. that the drainage act of the Thirtieth Judge Meek will pass the sentence legislature is unconstitutional. fixing the term of punishment. Judge Meek late this afternon ruled in favor of the three indicted officers NOT CONNECTED AT ALL. of the suspended Western Bank and Trust company of Dallas in their conStandard Denies It Has Anything In tention that they be not committed to Common With Texas Oil Co. the custody of the United States marshal pending the trial of their cases; (Herald Special.) that they are entitled to their liberty New Orleans, La., May 28.-The on bond until they have been convictStandard Oil company, in a signed ed. It is expected that the trial of statement made here today, denies these cases will be begun tomorrow having any connection with the Texbefore Judge Meek. to wreck the Evangeline Oil com-

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AN INDICTED BANKER

Dallas, Tex., Sept. 9.-Charging him with illegally receiving bank deposits, three indictments were returned in the district criminal court here yesterday against W. C. Witwer, former cashier of the suspended Western Bank & Trust company of this city. The bank failed in January, 1908, for more than $1,000,000.

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Bank Cashier Indicted Dallas, Tex., September 9.-Charging him with illegally receiving bank deposits three indictments were returned in the district criminal court here yesterday against W. C. Witwer, formerly cashier of the suspended Western Bank and Trust company o fthis city. The bank failed in January, 1908, for more than $1,000,000.

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INDICTS CASHIER THREE TIMES Dallas, Texas., Sept. 10.-Charging him with illegally receiving bank deposits, three indictments were returned yesterday against W. C. Witwer, formerly cashier of the suspended Western Bank & Trust Co. of this city. The bank failed in January, 1908, for more than $1,000,000.

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Cashier of Defunct Bank Indicted

Dallas, Tex., Sept. 10.-Charging him with illegally receiving bank deposits, three indictments were returned in the district criminal court here against W. C. Witwer, formerly cashier of the suspended Western Bank and Trust company of this city. The bank failed in January, 1909, for more than $1,000,000.

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A Texas Banker Indicted

Dallas, Tex., Sept. 10.-Charging him with illegally receiving bank deposits, three indictments were returned against W. C. Witwer, formerly cashier of the suspended Western Bank and Trust Company, which failed in January, 1908, for more than $1,000,000.

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McBride Still on Stand

Texas News Service Special. Dallas, Texas, Dec. 12.-L C. MeBride, receiver of the defunct Western Bank and Trust company. is on the stand again today in the trial of Fred Fleming. the former president of the bank, who is accused of receiving deposits when he knew the institution was insolvent.

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McBride on Witness Stand

[Special to The Bryan Eagle.] Dallas, Texas, Dec. 13.-L. C. McBride, receiver of the Western Bank & Trust Company, was on the witness stand today in the trial of Fred Fleming, former president of the bank, charged with receiving deposits knowing the bank to be insolvent.

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COURT REVERSES THE

FRED FLEMING CASE

FORMER PRESIDENT OF WEST- ERN BANK COMPANY GETS A NEW TRIAL.

Court of Criminal Appeals Finds Al- leged Defect in the Indictment. Davidson Writes the Opinion.

Associated Press Special. Austin, Texas, June 24.-Presid- ing Judge Davidson of the criminal court of appeals required twenty-six pages to reverse and remand the case of Fred Fleming, who had been convicted at Dallas on a charge of accepting deposits when he was al- leged to have known that the Wes- tern Bank and Trust company was in an insolvent and failing condi- tion. Error is found in the court's charge defining "insolvency" in not properly instructing the jury unde- what circumstances Fleming would be held in law in giving his assent to receiving deposits where money received by another person, it having been shown in this case that Fleming did not actually receive the deposits, but an employe of the bank did.

Judge Davidson holds the indict- ment defective in that it did not al- lege that the check, which forms a basis of this case and which was payable to the order of McAlister, was indorsed by him at the time of delivery to the bank.

The opinion also holds that the testimony of McBride was inadmissi- ble because the witness testified to facts about the conduct of the bank from his receiver's report, which was compiled by others, he having no personal knowledge of the facts thus testified to.