8609. American Bank & Trust Company (Auburn, ME)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
December 23, 1896
Location
Auburn, Maine (44.098, -70.231)

Metadata

Model
gpt-5-mini
Short Digest
9747f7b4

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Dec 23–24, 1896) state the bank closed its doors and petitioned for a receiver. Cause given repeatedly: inability to realize on western mortgage investments (stringency due to late wheat crop and farmers holding crops). No run is described in the articles; the bank sought a receiver and remained closed pending receivership.

Events (2)

1. December 23, 1896 Receivership
Newspaper Excerpt
has closed its doors and made application to the court for the appointment of a receiver.
Source
newspapers
2. December 23, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Inability to realize on western mortgage investments; borrowers asking for extensions and renewals; stringency tied to late wheat crop and farmers holding crops.
Newspaper Excerpt
The American Banking and Trust Company, of Auburn, closed its doors and asked the court for the appointment of a receiver.
Source
newspapers

Newspaper Articles (18)

Article from Daily Kennebec Journal, December 24, 1896

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FAILURE AT AUBURN. American Banking and Trust Co. Close Its Doors. Deposits Are Not Large and Liabilities Will Be Fully Met. Burglars Get $300 in Cash and a $1000 Bond at Portland. Lewiston, Dec. 23.-The American Banking and Trust Co. of Auburn has closed its doors and made application to the court for the appointment of a receiver. This institution was chartered about 10 years ago and its business was largely in Western mortgages in South Dakota. The suspension is due to the inability to make collections on maturing obligations, borrowers asking for extensions and renewals on their loans to an unusual extent. The deposits are not large and there are abundant assets to pay depositors in full as soon as a portion of the assets can be turned into cash. Delay will be unavoidable, but aside from this the depositors need have no anxiety. The deposits and bills payable amount to $54,408.19. The available assets, consisting of cash on hand and on deposit, real estate, real estate mortgages, loans and discounts and other personal property amount to $130,743.05. to say nothing of the double liability of the stockholders. The application for the appointment ofa receiver was made by the directors believing it to be the best step to take. under the circumstances, to protect the interests of all concerned. The officers of the company were W. W. Bolster, president, and F. W. Hunton, treasurer. The capital was $75,000. The application for a receiver was made to Judge Walton at Portland, Wednesday.


Article from The Wichita Daily Eagle, December 24, 1896

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DAY'S NEWS OF FAILURES Assignments. Receiverships, Foreclosures and Financial Disasters Generally. Sioux City, Ia., Dec. 23.-The ParsonsPelletier Dry Goods company, one of the largest houses of the kind in Sioux City, did not open for business today. The stock is in the hands of the mortgagee, who holds claims against the firm for $31,533. J. V. Farwell & Co., of Chicago, for $$34,424; Marshal Field of Chicago, for $30,595. and the Farmers Loan and Trust company of Sloux City, for $$9,000, are holders of first mortgages, and H. B. Claffin & Co., of Chicago, holds a second mortgage for $$17,500. No figures as to assets are given. The failure IS due to insufficient capital and the general stringency of the times. No local firms are affected by the failure. New oYrk, Dec. 23.-The New York and New Jersey Lumber company, a West Virginia corporation. today assigned to Harwood R. Pool. The company was incorporated in 1892. New York, Dec. 23.-Solomon Sayles, wholesale and retail dealer in meats and provisions, has assigned to Charles A. Hess, without preferences. Auburn. Me., Dec. 23.-The American Banking and Trust company of Auburn. closed its doors and made application for a receiver todax.


Article from New-York Tribune, December 24, 1896

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RECEIVER FOR A MAINE BANK. Lewiston, Me., Dec. 23.-The American Banking and Trust Company, of Auburn, chartered in 1886, has closed its doors and asked the court for the appointment of a receiver. The deposits are not large, and bank officials say there are assets enough to pay depositors in full as soon as the assets can be turned into cash. The deposits and bills payable amount to $54,498. and assets nominally $139,743. The business of the institution was largely in Western mertgages.


Article from The Seattle Post-Intelligencer, December 24, 1896

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BUSINESS FAILURES. TORONTO, Dec. 23.-MacPherson & Co., hat manufacturers, assigned today. The estate is large. No statement of liabilities has been prepared. NEW YORK, Dec. 23.-The New York and New Jersey Lumber Company. a West Virginia corporation, today assigned to Harwood R. Pool. The company was incorporated in 1892. AUBURN, Me., Dec. 23.-The American Banking and Trust Company, of Auburn, closed its doors and made application for a receiver today. SALT LAKE, Dec. 23.-Peters & Co., grain brokers of this city, have failed, with liabilities of $10,000. They claim the failure is due to the failure of Boone & Co., of Chicago. They also claim that the Chicago house was caught by the failure of the National Bank of Illinois. WEST SUPERIOR, Wis., Dec. 23.-The Bank of West Superior, capital $50,000, surplus $50,000, suspended operations this morning as a direct result of the failures of the Bank of Minnesota and the Bank of Illinois. The notice of the suspension stated that the cause was the Bank of Minnesota failure, but the Bank of Illinois had weakened It considerably. At the November statement the bank had deposits of $78,947: rediscounts, $1,505; loans and discounts, $18,971; real estate assets, $43,419; bonds and securities, $5,391; cash on hand, $22,259.90. The officials say they expect to resume and pay depositors in full. SIOUX CITY, Ia., Dec. 23.-The ParsonsPelatier Dry Goods Company, one of the largest houses in Stoux City, did not open today. The stock is in the hands of mortgagees who hold claims amounting to $91,538. These include Farwell & Co. and Marshall Field & Co., of Chicago; Farmers' Loan and Trust Company and H. B. Claffin & Co., New York. No figures are given as to assets. The failure is due to general stringency.


Article from The San Francisco Call, December 24, 1896

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ASKS FOR A RECEIVER. Western Mortgages Get a Maine Concern Into Difficulties. LEWISTON, ME., Dec. 23.-The American Banking and Trust Company of Auburn, chartered in 1886, has closed its doors and has asked the court for the appointment of a receiver. The deposits are not large and bank officials say there are assets enough to pay depositors in full as soon as the assets can be turned into cash. The deposits and bills payable amount to $54,403, and assets, nominally $130,000. The business oi the institution was largely in Western mortgages.


Article from Evening Journal, December 24, 1896

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MAINE BANK FAILS. Directors Claim to Have Been Swamped by Western Investments. AUBURN, Me., Dec.:44.-The American Banking and Trust company of this city has closed its doors and made an application with Judge Walton of the supreme court for the appointment of a receiver. The directors issued a statement attributing their action to inability to realize on western investments sufficiently to meet the immediate demands of depositOPS. The bank holds mortgages on farm and city property in Nebraska, Mhinesota and South Dakota, and the lateness of the whe it crop, together with the holding by the farmers of their wheat crops for higher prices, has caused the stringency of money. The bank has a capital stock of $75,000. Its available assets are $130, 748.06 and its liabilities $54,408.1 19. The suspension caused considerable anxiety among depositors, and there is some talk of it possible run on other banks. The officers of the bank are: President, W. W. Bolster: treasurer, F. W. Hunton: directors, F. R. Conant, N. W. Harris, J. E. Briggs, Winthrop: II. H. Gurney, E. P. Wentworth, Deering.


Article from The Saint Paul Globe, December 24, 1896

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JAMESON, HEVENER & CO., WHOLESALE DEALERS Flour, Feed, Grain, Hay, Etc. Northwestern Agents for PILLSBURY'S BEST FLOUR. State Agents for Griswold Broa' Hay Bale Ties. Write us for prices, 811, 183 and 185 East Sixth St., St. Paul. WALL STREET TALK. Tobacco directors propose to pay 2 per cent on common stock and call it quarterly. Tobacco people talk of a 2 per cent dividend on common, they also mention the possibility of redeeming the scrip in cash. How this latter payment is a bull argument on common stock is not explained. Despite the fact that the general street is bearish and has sold out pretty well all the stocks which were bought after election, still it looks as if buying in the market was better than selling and as if stocks were going slowly, but surely, from weak to strong hands. The strength of wheat is a good feature and fact that the next crop of wheat which is the July option, is selling above 75 cents insures a good return for the wheat farmer, which, in time, will turn out to be a powerful factor on the bull side. TELEGRAPH EARNINGS. NEW YORK, Dec. 23.-The Central & South American Telegraph company today declared a quarterly dividend of 1% per cent. The statement shows a surplus, beyond the October dividend, of $621,170; three months' traffic receipts, partly estimated, to December 31, $231,400; three months' operating expenses, $79,000. The board of directors of the Mexican Telegraph company today declared a quarterly dividend of 2½ per cent. Three months' traffic receipts to December 31 are estimated as $85,536; operating expenses for the same period, $17,000. FOREIGN FINANCIAL. NEW YORK, Dec. 23.-The Evening Post's London financial cablegram: Americans were lower today in sympathy with New York. The bank failures in the United States will, perhaps, deter purchases here of Americans, but they do not cause realizations. Well informed people looked for something of the kind, and they expect more. Financiers here still concur in placing a lower estimate on England's indebtedness to the United States, as reflected in hoarded sterling bills, than New York cables report. MONEY IN PLENTY. NEW YORK, Dec. 23.-The money market has not reflected in the slightest degree the successive out-of-town failures, and today's shipments to the interior were very moderate. The supply of available funds is very large, and in view of the impending heavy disbursements by the government and by railroad and other corporations, at the end of the year, the tendency of rates is towards even greater ease. The demand for money is very light. BUSINESS DIFFICULTIES. SIOUX CITY, Ia., Dec. 23.-The Parsons. Pelletier Dry Goods Co., one of the largest houses of the kind in Sioux City, did not open for business today. The stock is in the hands of mortgagees, who hold claims against the firm for $91,533. Toronto, Ont., Dec. 23.-MacPherson & Co., hat manufacturers, assigned today. The estate is a large one. No statement of liabilities has been prepared. NEW YORK MONEY. NEW YORK, Dec. 23.-Money on call easy at 1½2 per cent; last loan, 2; closed offered at 1½. Prime mercantile paper, 3½ C4½. Sterling exchange easier, with actual business in bankers' bills $4.87 for demand, and $4.83/2@4.83% for sixty days. Posted rates, $4.84%@4.851/2 and $4.871/2@4.88. Commercial bills, $4.821/2. Bar silver, 65%c. Silver certificates, 651/gc. BANK CLARINGS. St. Paul-$774,472.86. Minneapolis-$1,382,507.69. New York-Clearings, $91,918,932; balances, $4,886,808. Boston-Clearings, $14,673,611; balances, $1,925,714. RUBBER DIVIDEND. NEW YORK, Dec. 23.-The directors of the United States Rubber company, at a special meeting this afternoon, declared a dividend of 2 per cent on the common stock. The only previous dividend on the common stock was 21/2 per cent, declared in March, 1895. AN EXTRA DIVIDEND. NEW YORK, Dec. 23.-The Pennsylvania Coal company has declared an extra dividend of 5 per cent on its stock. The regular dividend rate is 16 per cent per annum. CHICAGO MONEY. CHICAGO, Dec. 23.-Money steady, unchanged. New York exchange par. Foreign exchange steady; demand $4.867/3; sixty days. $4.831/2. TREASURY STATEMENT. WASHINGTON, Dec. 23.-Today's statement of the condition of the treasury shows: Available cash balances, $225,318,310; gold reserve, $134,510,998. DOORS CLOSED. AUBURN, Me., Dec. 23.-The American Banking and Trust company, of Auburn, closed its doors and made application for & receiver today. INDIAN RATES RAISED. BOMBAY, Dec. 23.-The Banks of Bengal and Bombay have raised their rates of discount to 10 per cent.


Article from The Topeka State Journal, December 24, 1896

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MAINE BANK FAILS. An Institution at Auburn Closes Its Doors-Other Failures. Auburn, Me., Dec. 24.-The American Banking and Trust company of Auburn has closed and made application for a receiver. The directors publish a statement attributing their trouble to inability to realize on investments sufficient to meet the demands of depositors. The lateness of the wheat crop together with the holding by farmers of their wheat crop for higher prices has caused the stringency of money. The bank has a capital stock of $75,000. Its available assets are $130,000 and its liabilities $54,400. New York, Dec. 24.-The New York & New Jersey Lumber company, a West Virginia corporation, has assigned to Harwood R. Pool. The company was incorporated in 1892.


Article from Richmond Dispatch, December 24, 1896

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A Maine Bank Suspends. LEWISTON, ME., December 23.-The American Bank and Trust Company, of Auburn, chartered in 1886, has closed its doors, and has asked the court for the appointment of a receiver. The deposits are not large, and the bank officials say there are assets enough to pay depositors In full, as soon as the assets can be turned into cash. The deposits and bills payable amount to $54,403 and the assets are nominally $130,743. The business of the institution was largely in western mortgages.


Article from The Somerset Reporter, December 24, 1896

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The American Banking and Trust Co., of Auburn has closed its doors and made application to the court for the appointment of a receiver. The suspension is due to the inalii y to make collections on maturing obligations. Deposits are not large and liab lities will be fully met. Mdme. Lillian Nordiea is to appear in Portland, Dec. 30.


Article from The Diamond Drill, December 26, 1896

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LATER. Allen Creer and the wife and daughter of Rud Owens were drowned in Clarks river near Paducah, Ky., by the capsizing of a boat. Fire in the fashionable residence part of Montreal, Que., caused a loss of $100,000. The Bank of West Superior, Wis., capital $50,000 and $50,000 surplus, suspended because of the failure of the National bank of Illinois in Chicago. J. D. Williams, a mulatto, shot his wife and then killed himself in Washington. The Parsons-Pelletier Dry Goods company, one of the largest houses of the kind in Sioux City, Ia., failed for $100,000. A large portion of the business section of Somerset, Ind., was wiped out by fire. William Henry Hatch, ex-congressman and author of the famous "Hatch" or "anti-option bill." died at his home near Hanibal, Mo., aged 63 years. He was a member of congress from 1878 to 1894. Mrs. Henry Bond and Miss Tyrrell, sisters, living at Woodbourne, Pa., were killed by the cars at a crossing. By the explosion of a steam pipe in the city hall in Baltimore James Reilly and Charles Robertson were fatally scalded. The American Banking and Trust company of Auburn, Me., closed its doors with liabilities of $55,000. A train on the Chicago & Alton road was held up by robbers near Independence, Mo., and the express car looted. Solomon Sayles, wholesale meat dealer in New York, failed for $250,000. The French government in Madagascar has issued a decree abolishing slavery. The wife of Noah Scott, of Shelbyville, Ind., gave birth to four boys and all were doing well. An explosion of nitro-glycerin near Montpelier, Ind., killed George Hickok and Harry Wood and greatly damaged the property of the Empire Glycerin company. The bark Jamaica was lost off Dos Rosas Tabasco and 16 persons were drowned. Hon. William J. Bryan opened his lecture tour at Atlanta, Ga., his subject being "The Ancient Landmarks." Mrs. H. Estby and her daughter Clara, 19 years old, arrived in New York from Spokane, Wash., having walked the entire distance since May 5 on a wager that they could cross the continent in seven months.


Article from The Morning News, December 30, 1896

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MAINE BANK SHORT OF MONEY. The American Trust Company of Auburn Fails. Auburn, Me., Dec. 29.-A petition for a receiver for the American Trust and Banking Company has been filed. A director says: "The money is coming in in such amounts that we are encouraged to think our doors can again be opened for business. The company has little borrowed money, and the directors believe that western investments will prove all right."


Article from The Watchman and Southron, December 30, 1896

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Bank Failures. The directors of the Holliston, Mass., National bank have decided to finish up the affairs of the bank Jan. 1, 1897. after which date no more deposits will be taken. The American Banking and Trust company of Auburo, Maine, chartered in 1886, has closed its doors and has asked the court for the appointment of a receiver. The deposits and bills payable amount to $54,403, and assets nominally $130,743 The business of the institution was largely in western mortgages. The Bank of West Superior, Wis., has closed, being forced in liquidation by the failure of the Bank of Mionesota. The officials of the bank say they will resume soon and pay all depositors in full. E. S. Dreyer and bis partner, Robert Berger. of the banking firm of E. S. Dreyer & Co., Chicago, which failed on Monday, have been arrested charged with receiving a deposit knowing their bank to be insolvent.


Article from The Ely Miner, December 30, 1896

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Two children of Mrs. Christine Carlisle, Tommy, aged two, and Ruth, aged four, were burned to death at Wakefield, O. The mother had locked them in the house and gone to a neighbors. Fire destroyed two buildings at the state reformatory in Elmira, N. Y., entailing a loss of $100,000. In Chicago the George A. Weiss Malting and Elevator company failed for $500,000, and Angus & Gindele, contractors, for $250,000. Scott Wike, of Illinois, assistant secretary of the United States treasury, has resigned. James Preston, aged 40, shot his wife, Amanda, aged 37, and the latter's son, William Bryant, aged 19, in Cincinnati, and then shot himself. Domestic trouble was the cause. Mrs. J. Suppler's sugar house at White Castle, La., was destroyed by fire, together with 3,500 barrels of sugar, the loss being $200,000. The annual statement of railroad construction shows that during 1896 only 1,802 miles of lines were built in the United States, the smallest mileage in any year since 1875. The New England Society of the City of New York celebrated the ninety-first anniversary of its organization and the two hundred and seventy-sixth of the landing of the pilgrims. Walbridge & Co.'s hardware and house furnishing establishment in Buffalo, N. Y., was damaged by fire to the extent of about $150,000. The remains of Kate Field arrived in San Francisco from Honolulu. They will be cremated and the ashes sent east for burial. Allen Creer and the wife and daughter of Rud Owens were drowned in Clarks river near Paducah, Ky., by the capsizing of a boat. The Bank of West Superior, Wis., capital $50,000 and $50,000 surplus, suspended because of the failure of the National bank of Illinois in Chicago. J. D. Williams, a mulatto, shot his wife and then killed himself in Washington. Hon. William J. Bryan opened his lecture tour at Atlanta, Ga., his subject being "The Ancient Landmarks." Mrs. Henry Bond and Miss Tyrrell, sisters, living at Woodbourne, Pa., were killed by the cars at a crossing. A train on the Chicago & Alton road was held up by robbers near Independence, Mo., and the express car looted. The American Banking and Trust company of Auburn, Me., closed its doors with liabilities of $55,000. Solomon Sayles, wholesale meat dealer in New York. failed for $250,000. Mrs. H. Estby and her daughter Clara, 19 years old, arrived in New York from Spokane, Wash., having walked the entire distance since May 5 on a wager that they could cross the continent in seven months. A large portion of the business section of Somerset, Ind., was wiped out by fire. The Parsons-Pelletier Dry Goods company, one of the largest houses of the kind in Sioux City, la., failed for $100,000. The wife of Noah Scott, of Shelbyville, Ind., gave birth to four boys and all were doing well. An explosion of nitro-glycerin near Montpelier, Ind., killed George Hickok and Harry Wood and greatly damaged the property of the Empire Glycerin company. President Cleveland has approved the general pension and urgent deficiency appropriation bills. By the explosion of a steam pipe in the city hall in Baltimore James Reilly and Charles Robertson were fatally scalded. W. H. Jones, county treasurer of BarΓy county, Mo., for the past four years, is said to be short $13,000 in his accounts. There were 287 business failures in the United States in the seven days ended on the 25th, against 367 the week previous and 322 in the corresponding period of 1895. Miss Anna Held, the French actress, who is playing at the Grand opera house in Pittsburgh, sang on the public streets of the city for the benefit of a charitable institution and over $800 was poured into her carriage. Fire destroyed the Huffman house block in Rockford, III., the total loss being $175,000. The home of Philip McKim, near Franklin. Pa., was burned and three little children perished in the flames. The Columbia, known as the old Doxey theater building, was burned at Anderson, Ind., the loss being $90,000. The Calumet state bank at Blue Island, III., closed its doors with liabilities of $70,000. Jay Van Seyoe and Earl Campbell. two young men of Valley, Neb., were drowned while skating on a lake.


Article from The L'anse Sentinel, January 2, 1897

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at Elizabeth, Frederick Joblinski and his son and daughter were murdered and his wife fatally wounded by John Mottle, the hired man, near Madelia. Minn., and the murderer also took his own life. Mottle was in love with Joblinski's daughter and the father objected. Joe James (colored) was lynched at Woodstock, Ala. He attempted to assault Fannie Smith, aged 17. while she was on her way to school. The Bank of Minnesota, one of the oldest financial institutions of the state, and considered one of the strongest in St. Paul, closed with heavy liabilities, and as a result the Union stockyards bank was forced to close. Fire destroyed two buildings at the state reformatory in Elmira, N. Y., entailing a loss of $100,000. In Chicago the George A. Weiss Malting and Elevator company failed for $500,000, and Angus & Gindele, contractors, for $250,000. Scott Wike, of Illinois, assistant secretary of the United States treasury, has resigned. James Preston, aged 40; shot his wife, Amanda, aged 37, and the latter's son, William Bryant, aged 19, in Cincinnati, and then shot himself. Domestic trouble was the cause. Mrs. J. Suppler's sugar house at White Castle, La., was destroyed by fire, together with 3,500 barrels of sugar, the loss being $200,000. The annual statement of railroad construction shows that during 1896 only 1,802 miles of lines were built in the United States, the smallest mileage in any year since 1875. The New England Society of the City of New York celebrated the ninety-first anniversary of its organization and the two hundred and seventy-sixth of the landing of the pilgrims. Walbridge & Co.'s hardware and house furnishing establishment in Buffalo, N. Y., was damaged by fire to the extent of about $150,000. The remains of Kate Field arrived in San Francisco from Honolulu. They will be cremated and the ashes sent east for burial. Allen Creer and the wife and daughter of Rud Owens were drowned in Clarks river near Paducah, Ky., by the capsizing of a boat. The Bank of West Superior, Wis., capital $50,000 and $50,000 surplus, suspended because of the failure of the National bank of Illinois in Chicago. J. D. Williams, a mulatto, shot his wife and then killed himself in Washington. Hon. William J. Bryan opened his lecture tour at Atlanta, Ga., his subject being "The Ancient Landmarks." Mrs. Henry Bond and Miss Tyrrell, sisters, living at Woodbourne, Pa., were killed by the cars at a crossing. A train on the Chicago & Alton road was held up by robbers near Independence, Mo., and the express car looted. The American Banking and Trust company of Auburn, Me., closed its doors with liabilities of $55,000. Solomon Sayles, wholesale meat dealer in New York. failed for $250,000. Mrs. H. Estby and her daughter Clara, 19 years old, arrived in New York from Spokane, Wash., having walked the entire distance since May 5 on a wager that they could cross the continent in seven months. A large portion of the business section of Somerset, Ind., was wiped out by fire. The Parsons-Pelletier-Dry Goods company, one of the largest houses of the kind in Sioux City, Ia., failed for $100,000. The wife of Noah Scott, of Shelbyville, Ind., gave birth to four boys and all were doing well. An explosion of nitro-glycerin near Montpelier, Ind., killed George Hickok and Harry Wood and greatly damaged the property of the Empire Glycerin company. President Cleveland has approved the general pension and urgent deficiency appropriation bills. By the explosion of a steam pipe in the city hall in Baltimore James Reilly and Charles Robertson were fatally scalded. W. H. Jones, county treasurer of Barry county, Mo., for the past four years, is said to be short $13,000 in his accounts. There were 287 business failures in the United States in the seven days ended on the 25th, against 367 the week previous and 322 in the corresponding period of 1895. Miss Anna Held, the French actress, who is playing at the Grand opera house in Pittsburgh, sang on the public streets of the city for the benefit of a charitable institution and over $800 was poured into her carriage. Fire destroyed the Huffman house block in Rockford, III., the total loss being $175,000. The DUV-


Article from Spirit of the Age, January 2, 1897

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Position for Receiver Not Granted. PORTLAND. Me., Jan. 1- - The officers of the American Banking and Trust Company of Auburn petitioned Judge Walton to appoint a receiver. Judge Walton decided not to grant the petition, but let Bank Examiner Timberlake present a similar official petition.


Article from Kansas Agitator, January 29, 1897

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Goldbug Good Times. D. J. Bear, of Richmond, Va., jeweler, failed here Monday for $15,000. The Security, Mortgage and Trust Company of Dallas, Tex., has failed. Phelps & Co., grain brokers of Salt Lake City, have failed with liabilities of $10,000. The McCoy Banking Company of Independence, Mo., has gone into voluntary liquidation. The Bank of West Superior, Wisconsin, capital $50,000 and $50,000 surplus, has suspended operations. The Columbus and Hocking Valley Coal and Iron Company has passed into the hands of a receiver. The Scandia Bank, of Minneapolis, Minn., with a capital of $60,000, has suspended payments. The Laconia Car company of Laconia, N. H., has been petitioned into an involuntary insolvency. Chicago's charity ball is likely to be postponed on account of the financial and business troubles there. The Parsons-Pelletier Dry Goods company, one of the largest houses of the kind in Sioux City, Iowa, have failed. White & Howe company of Sioux City, Iowa, shoe dealers, have assigned Creditors are mostly eastern shoe firms. The American Banking and Trust company of Auburn, Me., has closed its doors and made application for a receiver. The Excelsior Machine and Boiler Works company of Chicago failed Monday. Assets and liabilities each about $40,000. Dallas Wightman, a cloak manufacturer of Rochester, N. Y., has assigned. Assets between $20,000 and $25,000; liabilities $15,000. Solomon Sales of New York, wholegale and retail dealer in meats and provisions, has assigned to Charles A. Hess without preferences. The Calumet State Bank at Blue Island, III., has failed. A statement was filed, showing that the assets are $87,069 and the liabilities $68,000. J. J. Wright & Stokes of Richmond, Va., manufacturers of harness, have assigned for $18,000. Mr. Stokes made a personal assignment for $16,000. The large retail dry goods store of M. Frank & Co. of Fort Wayne, Ind., was placed in the hands of Benjamin Rothschild as receiver Monday. One hundred and fifty men employed by the Georgetown Boot and Shoe company are on strike in Haverhill, Mass., against a reduction of wages. The Dime Savings bank of Chicago, has suspended payments under the ninety day withdrawal notice clause, granted in the statutes to savings banks.


Article from Blackfoot News, March 20, 1897

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Goldbug Good Times. D. J. Bear, of Richmond, Va., jeweler, failed here Monday for $15,000. The Security, Mortgage and Trust Company of Dallas, Tex., has failed. Phelps & Co., grain brokers of Salt Lake City, have failed with liabilities of $10,000. The McCoy Banking Company of Independence, Mo., has gone into voluntary liquidation. The Bank of West Superior, Wisconsin, capital $50,000 and $50,000 surplus, has suspended operations. The Columbus and Hocking Valley Coal and Iron Company has passed into the hands of a receiver. The Scandia Bank, of Minneapolis, Minn., with a capital of $60,000, has suspended payments. The Laconia Car company of Laconia, N. H., has been petitioned into an involuntary insolvency. Chicago's charity ball is likely to be postponed on account of the financial and business troubles there. The Parsons-Pelletier Dry Goods company, one of the largest houses of the kind in Sioux City, Iowa, have failed. White & Howe company of Sloux City, Iowa, shoe dealers, have assigned Creditors are mostly eastern shoe firms. The American Banking and Trust company of Auburn, Me., has closed its doors and made application for a receiver. The Excelsior Machine and Boiler Works company of Chicago failed Monday. Assets and liabilities each about $40,000. Dallas Wightman, a cloak manufacturer of Rochester, N. Y., has assigned. Assets between $20,000 and $25,000; d liabilities $15,000. Solomon Sales of New York, wholeet sale and retail dealer in meats and proa visions, has assigned to Charles A. Hess without preferences. The Calumet State Bank at Blue S Island, III., has failed. A statement $ was filed, showing that the assets are $87,069 and the liabilities $68,000. J. J. Wright & Stokes of Richmond, Va., manufacturers of harness, have d assigned for $18,000. Mr. Stokes made t a personal assignment for $16,000. el The large retail dry goods store of M. Frank & Co. of Fort Wayne, Ind. e was placed in the hands of Benjamin di Rothschild as receiver Monday. a One hundred and fifty men employed by the Georgetown Boot and Shoe comf pany are on strike in Haverhill, Mass. e against a reduction of wages. The Dime Savings bank of Chicago e has suspended payments under the g ninety day withdrawal notice clause e granted in the statutes to saving banks.