Bank of Silverton (Silverton, CO)

Article Text

Thomas Annear, of Silverton has been appointed receiver of the Bank of Silverton, at the request of the creditors of the bank. This institution closed last Friday, after the disappearance of its president, James H. Robin, who was found dead Saturday morning south of the city, from a self-inflicted wound in the head.

Article Text

bank CLOSED AND THE PRESIDENT IS MISSING Colorado Concern That Has Liabilitiesof $300,000. SILVERTON. Col., Jan. 2.-Owing to the disappearance of the president, James H. Robin, the Bank of Silverton was closed today by the cashier, A. H. Runde. The bank is capitalized for $30,000, and its liabilities are estimated at $300,000. The sheriff has sent out men to search for Robin, who, it is feared, is demented.

Article Text

BANK CLOSED AND THE PRESIDENT IS MISSING Colorado Concern That Has Liabilities of $300,000. SILVERTON. Col., Jan. 2.-Owing to the disappearance of the president, James H. Robin, the Bank of Silverton was closed today by the cashier, A. H. Runde. The bank is capitalized for $30,000, and its liabilities are estimated at $300,000. The sheriff has sent out men to search for Robin, who, it is feared, is demented.

Article Text

MISSING BANK PRESIDENT IS FOUND DEAD, A SUICIDE. Institution at Slivertor., Colo., Is Closed. but Cashier Says Obligations will Be Paid. Silverton, Colo., Jan. 3.-The body of James H. Robin, president and principal owner of the Bank of Silverton, which closed its doors yesterday on account of his disappearance, was found to-day, three miles below town, with a bullet hole through the right temple. In his right hand was still clutched the revolver with which he had ended his life. His wife and three children are in England. Cashier A. H. Munde's action in closing the bank to avoid a run is generally commended by the business men. Munde to-day declined to make any statement regarding the bank's condition except to say that he believed that the bank would be able to pay dollar for dollar if the pressure does not become too great. The bank. which is a private corporation, is said to have deposits amounting to $150,000 or more, and a report is current that Robin had borrowed large sums from the bank to carry on mining operations. He was interested in the Iowa-Tiger, Silver Ledge and Camp Bird Extension mining companies.

Article Text

PRESIDENT SENT BULLET THROUGH HIS BRAIN

Had Borrowed Large Sums From His Own Bank. Silverton, Col., Jan. 3.-The body of James H. Robin, president and principal owner of the Bank of Silverton, which closed its doors yesterday, was found to-day three miles below town, with a bullet hole through the right temple. In his right hand was still clutched the revolver with which he had ended his life. His wife and three children are in England at present. Cashier Munde's action in closing the bank in order to avoid a run, is generally commended by business men. Mr. Munde to-day declined to make any statement regarding the bank's condition, except to say that he believed the bank would be able to pay dollar for dollar if the pressure does not become too great. The bank, which is a private corporation, is said to have had deposits amounting to $150,000 or more, and a report is current that Robin had borrowed large sums from the bank to carry on mining operations. He was interested in the Iowa, Tiger, Silver Ledge and Camp Bird Mining Extension companies.

Article Text

RECEIVER APPOINTED

Siverton, Col, Jan 5.-Thomas Anne. has been appointed receiver of the Bank of Silverton, which closed its doors Friday after the disappearance of its president, J. H. Robin, who committed suicide. One of the committee appointed to examine into the affairs of the bank is credited with saying that the depositors will be paid in full.

Article Text

Receiver for Colorado Bank

Denver, Jan. 5.-Thomas Annear has been appointed receiver of the Bank of Silverton, which closed its doors shortly after the disappearance of its president, J. H. Robin. who later was found dead near that place.

Article Text

ROBIN'S DEAD BODY FOUND President of Bank of Silverton Ends His Own Life. Silverton, Colo., January 3.-The body of James H. Robin, president and principal owner of the Bank of Silverton, which closed its doors yesterday, was found today three miles below town, with a bullet hole through the right temple. In his right hand wa3 still clutched the revolver with which he had ended his life. His wife and three children are in England at present. Cashier Munde's action in closing the bank to avoid a run is generally commended by the business men. Mr. Munde today declined to make any statement regarding the bank's condition, except to say that he believed that the bank would be able to pay dollar for dollar if the pressure does not become too great. The bank which is a private corporation is said to have had deposits amounting to $150,000 or more, and a report is current that Robin had borrowed large sums from the bank to carry on mining operations. He was interested in the Iowa, Tiger, Silver Ledge and Camp Bird extension mining companies.

Article Text

Receiver for Silverton Bank

Silverton, Colo., Jan. 5.-Thomas Annear has been appointed receiver of the Bank of Silverton, which closed its doors Friday after the disappearance of its president, J. H. Robin, who committed suicide. One committee appointed to examine into the affairs of the bank is credited with saying the depositors will be paid in full.

Article Text

Denver, Jan. 4.-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton, was discovered by the train crew of the early freight from Durango, when it stopped for water at the tank, three miles south of Silverton. It was lying on the bank not far from the track, with a bullet hole in the temple. A 41-caliber revolver, the property of Cashier Mundee of the bank, which had been missed since Mr. Robin disappeared Thursday night, was still clutched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvin, the bank cashier who represented depositors in an examination of the books of the bank of Silverton, as well as Cashier and Secretary Mundee, announced to-night that depositors will be paid dollar for dollar. Deposits amount to approximately $160,000. and of this amount, it is announced. eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.

Article Text

BANK OF SILVERTON CLOSED AND PRESIDENT MISSING county treasurer, had $7,000 on deposit, Denver, Jan. 3.-A News special but secured by the American Trust from Silverton last night says: Company of Denver. There are at "J. H. Robin is missing and the bank is closed." A. H. Mundee, cashier of least 1,000 small creditors having from $100 to 1,000 on deposit. It is the opinthe Bank of Silverton, pasted this noion of the heaviest creditors who are tice on the door of the bank this mornbest informed that the assets will more ing. The Bank of Silverton, of which than cover all liabilities in case PresiJ. H. Robin is president and A. H. dent Robin has absconded. Robin carMundee, cashier, closed its doors this ried some $60,000 or $70,000 life insurmorning under circumstances peculiar ance in favor of his wife, who is vice and distressing. Liabilities are reportpresident of the bank. This will beed at $300,000, assets unknown. The come available in case of suicide. Mr. town was thrown into intense excitement and soon a crowd surrounded the Robin is a heavy stockholder in the Iowa-Tiger mine here and principal bank and requested that Cashier Munstockholder in the Camp Bird Extendee refund their money, threatening sion mine in Ouray county, besides vengeance in many ways. Cashier many other profitable enterprises in Mundee made the following statement: this part of the state. "Since last evening about 7 o'clock Mr. Robin has not been seen and as his The Silverton Bank is a private corporation, with J. H. Robin as presiapartments have not been occupied and no trace can be found of him his dent; Mrs. J. H. Robin, vice president, action caused me to think he has beand A. H. Mundee, cashier. It has been doing a banking business here for the come deranged or has probably compast ten years. The catastrophe will mitted suicide. I hope neither is a fact, not cripple any of the business firms but owing to his strange actions the or cause the suspension of any work past week and my position in the or the closing of any mines, but will bank I closed the doors, awaiting dework a hardship upon the many small velopments." creditors, such as miners and mechanMr. Mundee is exonerated from any ics, who are now idle awaiting the knowledge of any possible dishonesty opening of work in the spring. This by the creditors. At his request a is the second failure of this bank. It meeting of the creditors present is bewas forced to close its doors during ing held for the purpose of appointing a committee of three to examine the the panic of 1892. but friends of the management and Mr. Robin's luck in books and count the money in the vault. which Mr. Mundee states was striking ore in the Iowa-Tiger a few days after the closing occurred pulled not disturbed to his knowledge when him through and ever since it has been he opened the bank this morning. considered very substantial. Mrs. Nellie Tully Cunningham,

Article Text

Nine hours instead of ten hereafter will be considered a working day in all of the iron works of Portland, Ore., without any reduction of wages. James H. Robin, president and principal stockholder of the bank of Silverton, Colo., has disappeared and the bank is closed. Its capitalization is $30,000, liabilities $300,000. Unless union men are employed by the contractors now making alterations in New York's city hall. all union men employed on city work will be called out, tying up work on the new East river bridge. the new hall of records and all the new school houses. A stereopticon gas tank exploded during a Christmas entertainment at the French Evangelica] M. E. church at Chicago. People were hurled from their seats and Louis Compondu, Mrs. Mary Linder and Peter Linder were seriously injured. Many others were badly bruised. A wild panic followed the explosion, men, women and children fighting to get out of the building.

Article Text

SUICIDE OF PRESIDENT ROBIN OF THE BANK OF SILVERTON Denver, Jan. 4.-A Republican speThe only opinion entertained tonight is that Mr. Robin was insane. cial from Silverton yesterday says: Cause for his derangement is not apAt 7 o'clock this morning the body parent, unless it be ascribed to worry of James H. Robin, president of the over expenses of the past year, with Bank of Silverton, was discovered by reduction of income. and as a climax, the train crew of the early freight failure to carry out the financial from Durango, when it stopped for wascheme to which he had devoted his ter at the tank, three miles south of whole energy. Silverton. It was lying on the bank The venture in which Mr. Robin was not far from the track, with a bullet wrapped up was the development and hole in the temple. A 41-caliber resale of his Silver Ledge mine to the volver, the property of Cashier MunGuggenheim syndicate. During the dee of the bank, which had been past year Mr. Robin had spent $70,000, missed since Mr. Robin disappeared practically all his available cash, in Thursday night, was still clutched in the erection of a mill and extensive dethe right hand. velopment of the Silver Ledge, which The train crew came to Silverton he counted his largest asset. His plan and notified Acting Coroner W. D. was to make a great showing and efWatson, who brought the body here fect a sale to the Guggenheims. This and held an inquest. The jury retransfer was thought to have been arturned a verdict that Mr. Robin comranged, when the prospective purchasmitted suicide. ers sent an engineer to make a final B. B. Galvin, the bank cashier who report. This is said to have been adrepresented depositors in an examinaverse and negotiations were terminattion of the books of the bank of Silvered. ton, as well as Cashier and Secretary The Silver Ledge mill began operaMundee, announced to-night that detions to-day upon the vast ore reserves positors will be paid dollar for dollar. of the mine. The mill cost $40,000 and Deposits amount to approximately it is estimated that the ore in sight is $160,000. and of this amount, it is ansufficient to keep it running for years. nounced, eighty per cent. can be paid Conservative mining men rate the on demand from the cash available. property as the most valuable asset of It is expected that a receiver will be the Robin estate. Though the profit appointed and the bank reopened imwill not be large, it is considered a mediately. sure money maker.

Article Text

Denver

Jan. 4.-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton, was discovered by the train crew of the early freight from Durango, when it stopped for water at the tank, three miles south of Silverton. It was lying on the bank not far from the track, with a bullet hole in the temple. A 41-caliber revolver, the property of Cashier Mundee of the bank. which had been missed since Mr. Robin disappeared Thursday night, was still clutched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvin, the bank cashier who represented depositors in an examination of the books of the bank of Silverton. as well as Cashier and Secretary Mundee, announced to-night that depositors will be paid dollar for dollar. Deposits amount to approximately $160,000. and of this amount, it is announced, eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.

Article Text

Denver, Jan. 4.-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton. was discovered by the train crew of the early freight from Durango, when it stopped for water at the tank. three miles south of Silverton. It was lying on the bank not far from the track, with a bullet hole in the temple. A 41-caliber revolver, the property of Cashier Mundee of the bank, which had been missed since Mr. Robin disappeared Thursday night, was still clutched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvin, the bank cashier who represented depositors in an examination of the books of the bank of Silverton, as well as Cashier and Secretary Mundee, announced to-night that depositors will be paid dollar for dollar. Deposits amount to approximately $160,000. and of this amount, it is announced, eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.

Article Text

Nine hours Instead of ten hereafter will be considered a working day In all of the Iron works of Portland, Ore., without any reduction of wages. James H. Robin, president and principal stockholder of the bank of Silverton, Colo., has disappeared and the bank is closed. Its capitalization is $30,000, liabilities $300,000. Unless union men are employed by the contractors now making alterations in New York's city hall. all union men employed on city work will be called out. tying up work on the new East river bridge. the new hall of records and all the new school houses. A stereopticon gas tank exploded during a Christmas entertainment at the French Evangelleal M. E. church at Chicago. People were hurled from their seats and Louis Compondu. Mrs. Mary Linder and Peter Linder were seriously Injured. Many others were badly bruised. A wild panie followed the explosion, men, women and children fighting to get out of the building.

Article Text

Denver, Jan. 4-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton, was discovered by the train crew of the early freight from Durango, when it stopped for.water at the tank, three miles south of Silverton. It was lying on the bank not far from the track, with a bullet hole in the temple. A 41-caliber revolver, the property of Cashier Mundee of the bank, which had been missed since Mr. Robin disappeared Thursday night, was still clutched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvin, the bank cashier who represented depositors in an examination of the books of the bank of Silverton, as well as Cashier and Secretary Mundee, announced to-night that depositors will be paid dollar for dollar. Deposits amount to approximately $160,000. and of this amount, it is announced, eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.

Article Text

Deaver, Jan. L-A Republican special from Silverton yesterday says: At 7 o'clock this morning the body of James H. Robin, president of the Bank of Silverton. was discovered by the train crew of the early freight from Durango. when it stopped for water at the tank, three miles south of Stiverton. It was lying or the tank not far from the track, with a builet hole in the temple. A .41-caliber revolver, the property of Cashier Musdee of the bank. which had been missed since Mr. Retin disappeared Thursday night, was still clatched in the right hand. The train crew came to Silverton and notified Acting Coroner W. D. Watson. who brought the body here and held an inquest. The jury returned a verdict that Mr. Robin committed suicide. B. B. Galvia. the bank cashier who represented depositors in an examination of the books of the bank of Silverton, as well M Cashier and Secretary Mundee, assounced to-night that de positors' will be paid dollar for dollar. Deposits amount to approximately $160,000, and of this amount, it is announced, eighty per cent. can be paid on demand from the cash available. It is expected that a receiver will be appointed and the bank reopened immediately.

Article Text

RECEIVER'S STATEMENT

Something that depositors and other creditors of the Bank of Silverton have longingly looked for since that eventful day, January 2, 1903. This afternoon (Friday) Receiver Thomas Annear filed his statement with the clerk of the district court, of the Bank of Silverton, which closed Its doors January 2, last, and 18 here. with given in its summary: Assets.

Article Text

The receiver of the Bank of Silver ton, Col., whose president committed suicide some time ago, announced, on the 23d, that creditors would receive twenty or twenty-five cents on the dollar.

Article Text

The receiver of the Bank of Silverton, Col., whose president committed suicide some time ago, announced, on the 23d, that creditors would receive twenty or twenty-five cents on the dollar.

Article Text

The receiver of the Bank of Silverton, Col., whose president committed suicide some time ago, announced, on the 23d, that creditors would receive twenty or twenty-five cents on the dollar.

Article Text

can Bonding company to have 11.8 claim of $10,000 declared to be prior to all other debts of the bank on the ground that by paying up the bank debt to the state treasurer it would succeed to all the rights of the state of Colorado, and was therefore entitled to priority of payment. The Ciestion was argued in the forenool by B. W. Ritter on behalf of the surety company, and was argued in the af ternoon by W. N. Searcy on behalf of the general creditors of the bank. Jadge Russell, in his decision, decided that the American Bonding compan was not entitled to any preference it the payment of its $10,000 claim for the reason that the plaintiff's suit had been brought in such a manner as to sequester and to hold for the benefit of all the creditors generally, all the property of the bank, and that there fore the alleged priority of the state of Colorado could not be made effectual. In the evening the court took up the receiver's new report and the matter of paying compensation to the receiver and his attorney. and of paying dividends to the creditors; and also ruled upon the question of the last day's business of the bank, Upon the question of the last day's business the court ruled that checks upon the Bank of Silverton deposited that day. did not constitute a preferred claim. for the reason that such checks did not add anything to the funds of the bank, and if the persons depositing such checks were allowed to be paid in full it would be simply taking one man's money to pay another. As to the cash deposited in the Bank of Silverton on the last day, the court held that, as it was shown that the bank officials had in fact paid out all of the cash received by them on the day the bank clased, on the checks of other persons presented for payment upon such day, it could not be held that the money deposited on the last day ever passed into the hands of the receiver This ruling appears to be fair for the reason that only about $800 in cash was received by the bank on the day it closed, while at least $1000 was actually paid out. As to the checks upon other banks deposited in the Bank of Silverton on the day it closed, the court held that since the said checks had not been collected or cashed at the time the receiver took hold of the bank, but were afterwards collected by the receiver himself, the Atle had never passed to the bank, and that the proceeds of those checks must be returned. Upon the presentation of the receiver, the court allowed the receiver a salary of $2500 for one full year's work, and allowed to his attorney, Benj. B. Russell, the sum of $1200 for one year's work. This was the full amount requested by the receiver and his attorney. The court also ordered at a fee of $600 be allowed to W. N. Searcy for services rendered in the case for the benefit of the estate generally. After paying all preferred claims and paying all expenses of administration of the estate up to date it was found that a first dividend of nearly 13 per cent could be paid to the creditors. And on account of the work of the receiver in saving a margin out of the Denver property, and in discovering notes and other property belong ing to the bank of which there was no record whatever in the bank, it is now estimated that the final dividend may be as large if not considerably larger than the first dividend, but as the final dividend has to be made out it will take a of time to sell length et property and considerable dispose 01 the notes, stock, town lots and mining property which constitute the balance of the bank's estate.