894. California Bank of Oakland (Oakland, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 12, 1907
Location
Oakland, California (37.804, -122.271)

Metadata

Model
gpt-5-mini
Short Digest
26607725

Response Measures

None

Description

Multiple syndicated newspaper items (Nov 1907 listings) report the California Bank of Oakland suspended (cited Nov. 12, 1907). By Jan 1908 state proceedings and receivership actions are reported and a receiver (James/J. P. Edoff/Edhoff) was appointed and liquidation followed. Coverage blames poor management, large insider/unsound loans and shows a substantial deficit; no contemporaneous article describes a depositor run as the initiating event. Classified as suspension_closure (suspended and placed in receivership/closed).

Events (6)

1. November 12, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Contemporaneous listings show the bank suspended during the 1907-08 financial stringency; later receiver's reports cite deficit and unsafe/unbusinesslike loans by the bank's president and directors (insider and unsecured loans).
Newspaper Excerpt
Merchants' National bank of Portland, Ore.; the California bank of Oakland, Cal.; ... suspended.
Source
newspapers
2. January 15, 1908 Receivership
Newspaper Excerpt
Proceedings were begun this afternoon to declare the California bank of Oakland insolvent. A petition was filed by Attorney General R. C. Van Sleet for the state bank commission... He asked that a receiver be appointed. A similar petition was made by E. P. Cook for the depositors of the bank. Rod W. Church has been mentioned as a candidate for receiver. The petitions made today have been assigned to department two before Judge Melvin. (Los Angeles Herald, Jan. 15, 1908).
Source
newspapers
3. March 6, 1908 Other
Newspaper Excerpt
A post mortem will be held this morning over the California bank of Oakland, James Edoff, the receiver, having been invited to describe the failure of that institution, so that the legislators... may obtain ideas for remedial laws. (San Francisco Call, Mar. 6, 1908).
Source
newspapers
4. March 28, 1908 Other
Newspaper Excerpt
The receiver of the California Bank of Oakland has asked permission to declare a dividend of 10 per cent. or $99,131. He has also begun proceedings against several creditors of the bank. (New-York Tribune, Mar. 29, 1908).
Source
newspapers
5. April 22, 1908 Other
Newspaper Excerpt
Receiver for California of Oakland Declares Board Was Not Advisory Body... Edhoff's testimony ... said to have caused the closing of the institution. ... loans of large sums were made to the president of the bank and corporations with which he was actively connected. (San Francisco Call, Apr. 22, 1908).
Source
newspapers
6. June 13, 1908 Other
Newspaper Excerpt
A petition for a writ of prohibition ... has been filed by James P. Edoff, receiver for the California bank of Oakland. Mr. Edoff claims the Oakland bank has been discriminated against in the proposed distribution of a dividend by the Ventura institution. (Los Angeles Herald, Jun. 13, 1908).
Source
newspapers

Newspaper Articles (17)

Article from River Falls Journal, November 21, 1907

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Missouri, committed Midland hotel in Kansas City, leaving no message to explain his action. There was no evidence that the affairs of the Bank of Albany were involved in the tragedy. Charles Tracy Barney, the deposed president of the Knickerbocker Trust Company of New York, and until recently a power in the financial world, shot and killed himself. The deed was attributed to despondency over the loss of his large fortune and high business standing. Bankers and merchants in session at Sioux City, Ia., adopted a system of grain checks which it was agreed should be accepted as currency. The Merchants National bank of Portland, Ore.; the California bank of Oakland, Cal.; the Farmers and Merchants bank of Sapulpa, I. T., and the Ravenswood Exchange bank in a Chicago suburb suspended. The Royal Motor Car company of Cleveland, O., and the Gary wholesale grocery house of Selma, Ala., went into the hands of receivers. Secretary Cortelyou made the announcement that as a means of affording relief to the financial situation the treasury would issue $50,000,000 of Panama bonds, and $100,000,000 certificates of indebtedness, or SO much thereof as may be necessary. The certificates will run for one year and will bear three per cent. interest. Prince Charles of Bourbon was married to Princess Louise of France at Wood Norton, England, in the presence of about 40 members of royal families. Charles H. Seitz. formerly general manager of the Michigan Telephone company at Detroit, died in Chicago from pneumonia. Mrs. Evelyn Romadka, the Milwaukee woman burglar, was sentenced to the Joliet penitentiary for an indeterminate period of from one to twenty years by Judge Brentano of Chicago on her plea of guilty to the charge of burglary. Louis H. Krehl, a young civil engineer on the Rock Island railroad, shot himself in the head at Topeka, Kan. The $22,000 worth of pay checks for the miners of the Carbon Coal & Coke company, which were lost from the stage that runs between Longsdale and Cokedale, Col., were found by boys and returned to the company. J. Ballin, a stock broker of Hamburg and a brother of Albert Ballin, director general of the Hamburg-American Steamship line, committed suicide. Alexander Fries, head of the firm of Alexander Fries & Bro., New York and Cincinnati, and one of the most eminent chemists of the country, died in Cincinnati. Harry Waters and his son Walter were struck by the fast mail train on the Vandalia and instantly killed at the village of Almeda, Ind. The safe in the post office at Seneca, S. C., was blown open and $800 in stamps and $200 in currency taken. The indorsement of William H. Taft for the presidency, and a demand for home rule were the salient features of the platform reported to the Alaskan Republican convention. William Willcox, former superintendent of the municipal lighting plant of Columbus, O., was found guilty by a jury on the charge of defrauding the city out of $1,170. A fatal wreck occurred on the Missouri River & Northwestern railroad between Mystic, S. D., and Rapid City. An extra engine and three cars, one filled with passengers, plunged into Rapid creek, where a bridge had burned. Fireman Martin was pinned under the engine and died. The fiscal year for the state of Ohio closed with a cash balance in the treasury of $5,081,850.95, an increase of $1,335,817 compared with the previous year, which was a recordbreaker for revenues. While running at the rate of 60 miles an hour, westbound train No. 13 on the Wabash road jumped the track near Dillon, Laporte county, Ind. Four passengers and three trainmen were seriously injured and scores of passengers slightly hurt. Gov. Vardaman of Mississippi was prevailed upon to take a ride in Baldwin's airship at Jackson, Miss. Ten feet above the ground was the limit and the trip was very short. John C. Jeans, a day laborer of Ludington, Mich., has been bequeathed $1,000,000 by his aunt, Anna T. Jeans of Philadelphia. William E. Shiebler, the telegraph operator who received the first message over the Atlantic cable, sent to President Buchanan by Queen Victoria, died in Brooklyn. One man was blown to pieces and property loss of $10,000 resulted when two tons of powder in the grinding and storage room of the plant of the Pittsburg Fulminite company, near Zelienople, Pa., exploded. Eight persons, nearly all trainmen, were killed in a Canadian Pacific wreck at Chalk river, near the Canadian Sault. The board of trustees of the Catholic University of America at a meeting in Washingt placed the


Article from The Yale Expositor, November 22, 1907

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grand master of the Masonic Order Missouri, committed suicide at the Midland hotel in Kansas City, leaving no message to explain his action. There was no evidence that the fairs of the Bank of Albany were volved in the tragedy. Charles Tracy Barney, the deposed president of the Knickerbocker Trust Company of New York, and until cently a power in the financial world, shot and killed himself. The deed attributed to despondency over the loss of his large fortune and business standing. Bankers and merchants in session at Sioux City, Ia., adopted a system of grain checks which it was agreed should be accepted as currency. Merchants National bank of Portland Ore.; the California bank of Oakland Cal.; the Farmers and Merchants bank of Sapulpa, I. T., and the Ravens wood Exchange bank in a Chicago suburb suspended. The Royal Motor Car company of Cleveland, O., and the Gary wholesale grocery house Selma, Ala., went into the hands receivers. Secretary Cortelyou made the nouncement that as a means of fording relief to the financial situation the treasury would issue $50,000,000 Panama bonds, and $100,000,000 tificates of indebtedness, or so much thereof as may be necessary. The certificates will run for one year will bear three per cent. interest. Prince Charles of Bourbon was ried to Princess Louise of France Wood Norton, England, in the ence of about 40 members of families. Charles H. Seitz, formerly genera manager of the Michigan Telephone company at Detroit, died in Chicago from pneumonia. Mrs. Evelyn Romadka, the Milwau kee woman burglar, was sentenced the Joliet penitentiary for an determinate period of from one twenty years by Judge Brentano Chicago on her plea of guilty to charge of burglary. Louis H. Krehl, a young civil gineer on the Rock Island railroad shot himself in the head at Topeka Kan. The $22,000 worth of pay checks fo the miners of the Carbon Coal & company, which were lost from stage that runs between Longsdal and Cokedale, Col., were found boys and returned to the company. J. Ballin, a stock broker of Ham burg and a brother of Albert Ballin director general of the Hamburg-Amer ican Steamship line, committed cide. Alexander Fries, head of the of Alexander Fries & Bro., New Yor and Cincinnati, and one of the eminent chemists of the country, in Cincinnati. Harry Waters and his son Walte were struck by the fast mail train the Vandalia and instantly killed the village of Almeda, Ind. The safe in the post office at Seneca S. C., was blown open and $800 stamps and $200 in currency taken. The indorsement of William H. Taf for the presidency, and a demand home rule were the salient feature of the platform reported to the kan Republican convention. William Willcox, former superir tendent of the municipal lighting of Columbus, O., was found guilty a jury on the charge of defrauding city out of $1,170. A fatal wreck occurred on the souri River & Northwestern railroa between Mystic, S. D., and Rapid An extra engine and three cars, filled with passengers, plunged


Article from The L'anse Sentinel, November 23, 1907

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Bankers and merchants in session of Sloux City, Ia., adopted a system agreed at checks which it was The should grain be accepted as currency. Portland, Merchants National bank of the California bank of Oakland, Ore.; the Farmers and Merchants RavensCal.; bank of Sapulpa, I. T., and the Chicago wood Exchange bank in a Motor suburb suspended. The Royal and the Car company of Cleveland, O., house of wholesale grocery hands of Gary Selma, Ala., went into the receivers. leading New York banks were meet exerting The themselves actively to corredemands of their country currency. the spondents and depositors for suggestions They declared that the sources from several western legitimate made they were not meeting west demands that for currency from the that entirely unfounded and taking were were, on the contrary, aid the every they practicable measure to west and south. first direct reports from Kara- the The of the great earthquake at the vicscene Russian Turkestan, say the city tagh, number about 14,000; and tims many villages were destroyed. The Peoples bank of Portsmouth, receiver went into the hands of a gave Va., petition of the directors, bank who has on statement that the defalcaout been a made insolvent through tions of the cashier. Photographs and official data the repa summer's work of in- in resenting ternational boundary commission capAlaska were lost when a canoe sized in the Bradfield river. was proposed in the Michigan to inIt constitutional convention obligastate an article making voting sentence sert tory, with a fine and prison as penalties. Senator Haines' bank of doors ForState Grove, Ore., did not open its obest business because it could not for its balances from the Merchants susNational tain Bank of Portland, which pended payment. total equalized assessment of in The property, lands, and lots personal Illinois for the year 1907 aggregates by $1,138,622,398, according to reports of committees of the state board equalization. Checks and currency to the amount $22,000, intended to pay the wages of of the Carbon Coal & Coke company's lost miners at Cokedale, Col., were stage. or stolen while in transit in a Former Gov. James E. Campbell, of said that he is a receptive can- to didate Ohio, for United States senator succeed Senator J. B. Foraker. Kansas City, Mo., the grand jury returned At 149 additional indictments violatagainst persons charged with labor ing the state law which forbids Sunday. on boiler at the ginhouse on the Trulock .A plantation, near Pine Bluff, J. B. Ark., exploded killing the owner, Trulock, and five negroes. The confession of Steve Adams, of in the office of the warden made the Idaho state penitentiary February 1906, was introduced in evidence murder 27, the trial of Adams for the murder It told of and Boule and of at of Fred Tyler Tyler. Pettibone. the involved Moyer, Haywood and The engine and tender of a Balti- at& Ohio train to which was Vice more tached a private car bearing President Fairbanks and a party returning from the funeral of Judge McComas was derailed at Weverton Junction, Md. Immediately following the closing Pa., bank of Examiner Bynns, L. P. of by the State Peoples California, Oliver Piper, the cashier, and William Lenhart, a business man who lives in Brownsville, Pa., were arrested, charged with conspiracy to defraud the bank. A report reached Durango, Col., that occurred at McElmo canyon, a Ute Indians and between battle Indians United States troops, in which six killed were killed. No soldiers were or wounded. in the basement of the new dormitory at East wich I.) academy Eastman A boiler (R. exploded Green- Three and partly wrecked the structure. young women students were severely but not seriously injured. hall of St. at King Windsor In the historic Castle, Edward George and Queen Alexandra gave a state banquet in honor of the emperor and empress of Germany and their suite. A state convention of Democrats at Nashville, Tenn., started a movement for the nomination of a southern man as Democratic candidate for the presidency in 1908. Ray Bricker fell 115 feet down a mine near Boone, Ia., landed on his feet and was unhurt. Asserting that the cold weather has caused untold suffering on account of of the scarcity of coal, the residents Somerset, Neb., appealed to the state railway commission for relief. Charles Howard, 60 years old, a convict in the Jollet penitentiary, made his escape while working in the stone quarry. Six nersons were injured when


Article from Audubon Republican, January 2, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 4-First National bank of Scotland, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, : Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroller of currency. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Rece vers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 15-First National bank of Dresden, O., failed. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18 -Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 77-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro, Mass, in hands of receiver.


Article from The Taney County Republican, January 2, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank* of Goodland, Ind., found guilty of embezzlement. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of Now York, assigned; assets, $3,000,000: liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, "Mo., convicted of illegal banking, sentexced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 10-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. -Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Via., closed. 20-Farmers' National bank of Boyertown. Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent stump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York.22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend: great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptey. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. 1., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling Interest in Tennessee Coal & Iron Co. Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants National bank of Portland. Ore., California bank of Oakland. Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000.000 certificates of indebtedness as means of relieving financlal situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000. which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea. Mich., owned by State Treasurer Glazier, closed. -National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6- Fort Pitt National bank of Pittsburs closed. 17-Jewelers' National bank at North Attleboro. Mass.. in hands of receiver.


Article from The Jasper Weekly Courier, January 3, 1908

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FINANCIAL Jan. 21-Merchants and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. G.Iman. former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. II-Virtual panic in Wall street: Secretary Cortelyou relieved the situation. 19 -Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned, assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens bank of Eureka Springs, Ark., suspended. Fort Dallas National bank of Miami, Fla., closed. 10-Farmers' National bank of Boyertown. Pa., ordered closed. Aug. 3-People's State bank of Brownstown. Ind., closed by state authorities. II-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich, both private institutions, closed doors. Collapse of Heinze corner in copper caused violent slump in stocks in New ) York; firm of Otto Heinze & Co., suspended from stock exchange. 19 New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. $2 Knickerbocker Trust Co., New York's second largest financial institution, / forced to suspend; great slump in securities: call money at 70 per cent. Secretary of treasury ordered deposit of $25,000.000 of government funds in New York banks Four Westinghouse I companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State 1 Bank and Trust Co., of Carson, Nevada, failed. 84 Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25 Six more minor banking institutions in New York closed doors Union : Trust Co., of Providence, R. I., suspended. Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and f made withdrawal of savings deposits subject to legal notice. California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. Receiver appointed for Arnold Print works of North Adams, Mass. one of largest textile concerns in country l²-Merchants' National bank of Portland, Ore., California bank of Oakland. Cal., and Farmers & Merchants bank of Sapulpa, I. T., suspended. 28 Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000.000 certificates of indebtedness as means of relieving finan, cial situation City National bank of Frederick, Okla., failed. merican Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver Dec. 2-Chelsea Savings abnk of Chelsea. Mich., owned by State Treasurer Glazier, closed. National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro, Mass., in hands of receiver.


Article from The Forrest City Times, January 3, 1908

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FINANCIAL Jan Merchants' and Farmers' bank of Fairmont, Minn. suspended. Feb.2-F D. Gilman, former president suspended Home bank of Goodland, Ind. found guilty of embezzlement. LF D. Gilman, Indiana banker sentanced to term of one to three years in state prison. Disappearance of $ 3,000 from subtreasury at Chicago made public. Mar. 14 Virtual panic in Wall street; Secretary Cortelyou relieved the situation Citizens State bank of Firth, Neb., closed by state Corbin Banking company of New York, assigned assets, $3,000,000; Habillties, $1,700,000. pr. -Maj H. W. Salmon of Warsaw. Mo. convicted of illegal banking, sentenced three years in penitentlary 11-Bank of Conception, at Clyde, Mo., ordered closed 10-Ex-Judge Smith of Chicago, found utity of conspiring to defraud stock holders and depositors of Bank of America, of which he was president; Denalty imprisonment and $1,000 fine Citizens' bank of Eureka Springs, Ark. suspended -Fort Dallas National bank of Miami, Fla. closed. -Farmers' National bank of Boyertown. Pa. ordered closed. Aug. 1-People's State bank of Brownstown, Ind. closed by state authorities. Receivers appointed for Pope Mfg Co., of Hartford, Conn. failure ascribed to stringency of money market ep. 5-5 Watson & Co. members of New York stock and produce exchanges and of Chicago board of trade failed. Oct. -Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutiona closed doors &-Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange New York clearing house committee declared that the Heinze Morse and Thomas interests had been eliminated from banking organizations of New York -Krickerbocker Trust Co. New York's second largest financial institution, forced to suspend great slump in securities: call money at 70 per cent. Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed 84 Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala. filed involuntary petition in bankruptcy -8ix more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. -Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. -California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. T-Three small banks in Kansas closed United States Steel corporation secured controlling Interest in Tennessee Coal & Iron Co. Receiver appointed for Arnold Print works of North Adams, Mass. one of largest textile concerns In country 22-Merchants' National bank of Portland, Ore California bank of Oakland, Cal. and Farmers' & Merchants' bank of Sapulpa, I T. suspended 22 Secretary of Treasury Cortelyou or dered issue of $ 50,000,000 of Panama bonds and $100,000.00 certificates of indebtedness as means relieving financial situation City National bank of Frederick, Okla., falled -American Silk Co capital stock $11. 000,000, which operated mills in several cities placed In hands of receiver Dec. 2 Chelsea Savings abnk of Chelsea. Mich owned by State Treasurer Glazler, closed. 5 National Bank of Commerce, one of largest financial Institutions of Kansas City, suspended -Fort Pitt National bank of Pittsburg, closed 17-Jewelers' National bank at North Attleboro, Mass., In hands of receiver


Article from Meade County News, January 9, 1908

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Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 5-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. -Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced. three years in penitentiary. -Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. M-Receivers appointed-for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. ep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. ct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. I-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. -New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. -Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. -Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. M-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. M-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. -California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed. United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 22-Merchants National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. B-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 7-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed. 17-Jewelers® National bank at North Attleboro, Mass., in hands of receiver.


Article from The Tupelo Journal, January 10, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 4-First National bank of Scotiand, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroller of currency. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 15-First National bank of Dresden, O., failed. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors. Union Trust Co., of Providence, R. I., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed. Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed. United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities. placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended.


Article from The Coalville Times, January 10, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. B-F. D. Gilman, Indiana banker. sentenced to term of one to three years in state prison. 26 Disappearance of $173,000 from subtreasury at Chicago made public. Mar 14-Virtual panic In Wall street: Secretary Cortelyou relieved the situation. -Citizens' State bank of Firth, Neb., closed by state. as Corbin Banking company of New York, assigned; assets, $3,000,000: liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw. Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19 Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America. of which he Was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 6-Fort Dallas National bank of Miami, Fia., closed. 20-Farmers' National bank of Boyertown. Pa., ordered closed. AUG. 3-People's State bank of Brownstown. Ind., closed by state authorities It-Receivers appointed for Pope Mtg Co., of Hartford, Conn.: failure ascribed to stringency of money market Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade. failed. Oct. 9 Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16 Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. 10-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York, Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities: call money at 70 per cent. -Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State and Trust Co., of Carson, Nevada failed Three winor banks in New York to forced close Houthern any stuntary ution m bankruptcy 25 25-Six more minor banking institutions In New York closed doors Union Trust Co., of Providence, R. 1., suspended. Banks In New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 80 California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country 12 Merchants' National bank of Portland, Ore., California bank of Oakland, Cal. and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18 Secretary of Treasury Cortelyou ordered Issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financlal situation City National bank of Frederick, Okla., falled. 27 American Silk Co. capital stock, $11,000,000. which operated mills in several cities, placed in hands of receiver. Dec. 3 Chelsea Savings abnk of Chelsea. Mich,, owned by State Treasurer Glazier, closed. 5 National Bank of Commerce, one of largest financial Institutions of Kansas City, suspended. closed. Fort Pitt National bank of Pittsburg, -Jewelers' National bank at North Attleboro, Mass., in hands of receiver.


Article from Los Angeles Herald, January 16, 1908

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MAY DECLARE CALIFORNIA bank OF OAKLAND INSOLVENT By Associated Press. OAKLAND, Jan. 15.-Proceedings were begun this afternoon to declare the California bank of Oakland insolvent. A petition was filed by Attorney General R. C. Van Sleet for the state bank commission, declaring that the bank accounts showed a deficit of more than $20,000, the real amount not being known to the petitioner. He asked that a receiver be appointed. A similar petition was made by E. P. Cook for the depositors of the bank. Rod W. Church has been mentioned as a candidate for receiver. The petitions made today have been assigned to department two before Judge Melvin. PARKERSBURG, W. Va., Jan. 15.-A receiver was appointed today for R. M. Smith & Co., wholesale lumber dealers. The assets are given as $500,000 and their liabilities as $350,000. The company is said to be entirely solvent, but owing to the money stringency could not get ready money enough to carry on its affairs. NORWALK, Ohio, Jan. 15.-The doors of the Ohio Trust company here were closed today. A voluntary assignment was announced. H. L. Smith of Cleveland and H. E. Barns were appointed receivers. The bank officials say they expect to pay depositors in full. The bank was established in 1903. The last statement shows deposits of $412,000 and loans to the extent of $380,000. NEW YORK, Jan. 15.-Two indictments charging that William R. Montgomery, while vice president of the Hamilton bank, misused the funds of the institution were returned today by the grand jury. I BIRMINGHAM, Ala., Jan. 15.-The firm of M. Waller & Co., cotton commission merchants and insurance agents of Selma, Ala., was thrown into involuntary bankruptcy today. Liabilities are estimated at $500,000 with assets of $150,000. FRANKLINVILLE, N. Y., Jan. 15.-Cashier E. D. Scott and Bookkeeper R. W. Van Hosen of the People's National e t bank of this place were arrested today on four charges in connection with the e bank's failure. They were held in $4000 g bail each.


Article from The San Francisco Call, January 30, 1908

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suge Page How perfectly dreadful. GRAFT "Higherups" fear Ruef's yellow streak despite which coils binding them to curly boss are drawn tighter. Page 1 Sheriff learns of Ruef's plot to make break for liberty, doubles guard and gives orders to shoot at first suspicious move. Page 1 CITY Two officials of Chicago, Milwaukee and St. Paul road sail on steamer Mongolia with intention of developing business in the orient. Page 13 All voters must register anew to beat ma. chine. as only those whose names are on new books by April 15 can take part in the primaries. Page 1 Another runaway CRT of the United Railroads crashes into a car ahead. smashing both coaches Page 14 and injuring eight people. After faithful service extending over a period of eight years Miss Agnes Boch is displaced as clerk of the bank commission. Page 14 Utilities committee of supervisors discuss ex penditures of million from bond issue. Page 5 Carl E. Ritter, the saloon keeper indicted for offering a bribe to Police Commissioner Cutler, claims to be an unfortunate victim of circumstances. Page 2 Methods of Miss Katherine Ball, head of the drawing department, not approved by the board of education. Page 5 Milk crusade brings two more convictions. five arrests and issuance of 28 warrants for offender under state law Page 14 Members of graduating classes at three gram mar schools are given diplomas. Page 8 Hundreds of delegates here to attend opening today of the interdenominational missionary conference. Page 8 Attorney Julian Pinto suffers fatal stroke of apoplexy after arguing 2 case in the superior court. Page 8 Governor and visiting Episcopal prelates join in reception given in honor of Bishop Nichols. Page 14 Woman guest of St. Francis jailed on orders from Seattle charging her with passing worthless checks. Page 8 Real Greenway ball with Ned as cotillon leader and society girls for partners planned for men of Evans' fleet. Page 7 SUBURBAN Receiver Edoff's report on California bank of Oakland shows deficit of $300,000. but he believes the depositors will receive 70 per cent salvage. Page 6 Engagement of popular Millbrae girl to San Francisco man is announced. Page T Plucky Oakland woman beats off two burglars with her fists and tears handfuls of bair from one assailant's head in fight at a window. Page 1 Police department of Alameda to be severely scored Sunday in the pulpits of evangelical churches Page 6 Mass meeting of Berkeley people called for raceFebruary 13 to plan campaign against tracks. Page 6 More tban $1,000,000 will be due Alameda county treasury from tax collector when JanuPage 6 ary settlements are made. Former Governor Pardee sharply rebukes Ed. son F. Adams, banker and wharf owner, and imPage 6 plies be is traitor to Oakland. Rev. C. R. Brown of First Congregational church of Oakland rejects two calls from the east. Page 6 Police to press charge of murder against com rade of robber who killed policeman. Page e Branch of Lincoln Roosevelt league to be perfected today by University of California students. Page 7 COAST Captain of Jack London's yacht Snark killed first mate of British ship at Portland in 1899. Page T Stockton city council making strong effort to oust police and fire commission from office. Page 2 EASTERN Wireless message from battleship fleet caught at Point Loma went around the world, is sugPage 1 gestion of Admiral Cowles. Cortelyou's report to the senate shows Panama bond issue was 44 times oversubscribed and Page 3 hints at coming deficit in treasury Naval pay officers object to serving under the command of a surgeon on hospital ships. Page 11 Government will mobilize large number of Page 1 troops on coast before fleet arrives. Attorney Littleton in argument for Thaw ar raigns Jerome for attitude toward Evelyn Nesbit and failure to call alienists to back up his speers. Page 3 Littlefield of Maine pleads for action on ship Page 7 subsidy bill in house. New York republican county committee indorses Hughes for the presidency and commends Page 7 Roosevelt's administration, FOREIGN General Stoessel makes his final defense for Page 1 the surrender of Port Arthur. British radicals disappointed at opening of Page 3 parliament by king's speech. SPORTS 1 George Young of the transport Buffalo and "Battling" Robinson of the cruiser California fight 20-rounds to a draw at Vallejo. Page 8 1 Autoists to petition the government for privi lege of running motor care into Yosemite valley. Page 9 No reduction of salary to be made among members of the Oakland coast league baseball Page 9 team, and some increases promised. Summer racing meeting to open at the Meaj. ows June 20 and close September 12. Page Jockey Walter Miller pilots three of the winners at the Santa Anita track. Page Rapid Water wins the San Jose handicap and four other favorites are successful at Emeryville. Page 9 If new race course is established at Venice, 1 Los Angeles county. it will be considered an outlaw track Page 9 Amateur championship boxing tournament a under the auspices of the Olympic club is re e Page 8 plete with interesting glove work. a LABOR 0 Boiler makers of lodge No. 25 an to work e only eight hours on government work. Page 5 MARINE 1 I Ship Alexander Gibson springs a leak and while sallors toll at the pumps skipper's chil. dren romp on deck with collection of animal pets. Page 11 d MINING Ophir makes a sensational advance upon re ports that the recent strike has proved to be r Page 13 larger than was at first. thought. 1 SOCIAL


Article from The San Francisco Call, March 6, 1908

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WOULD RAISE BANK COMMISSION'S PAY Financiers Suggest $10,000 a Year as Lowest Price for Competent Examiners Divorce State Board From Pol= itics Proviso Insisted Upon for Greater Safety "Have for bank commissioners the same character of men as are bank directors; pay them $10,000 a year salary. The banks, which now pay the expenses of the bank commission, would be glad to meet the increased cost, owing to the guarantee of increased protection," was the recommendation John D. McKee, vice president and cashier of the Mercantile trust company, made to the legislative investigation committee yesterday. "Have a competent examiner as the head of the commission," I. W. Hellman Jr., vice president and general manager of the Union trust company, added. "Let the salary of the head of the commission be $10.000 a year or more. Divide the state into districts, paying the head man in each district, say, $6,000 a year. Have the district heads familiar with their district's condition. Take the appointments out of politics, though still leaving it in the hands of the governor." Senators Leavitt and Wolfe and other members of the committee assented to portions of the recommendations of McKee and Hellman, and it is probable that the committee will incorporate regulations for the change of the bank commission system in the report it will submit to the legislature. Leavitt introduced a lengthy discussion of the radical sections of the banking laws of Oklahoma, whereby banks are assessed 1 per cent of their daily average deposits for the purpose of creating a depositors' guaranty fund. In case a bank fails the state takes control of its assets, reimburses depositors out of those assets and meets any deficiency by drawing on the guaranty fund, which, in turn, is reimbursed by levying on the stock holders of the concern. But that suggestion did not find favor with the bankers present The legislators had invited representatives of trust companies to a conference yesterday morning. With Hellman and McKee there were present William G. Irwin, president of the Mercantile trust company, and B. C. Tognazzi, manager of the Central trust company. In outlining the scope of a trust company's activities, McKee said that there was not enough business of a purely trust nature in California for such a concern to thrive on, so they had to do a general banking business. Hellman agreed with that view, and recommended that laws be passed prohibiting trust companies from mingling their trust and their banking businesses. He said that to properly examine a trust company should take 30 days, instead of the one or two days the bank commissioners are able to devote to each institution. He spoke of the danger of a trust company making insecure investments, and spoke favorably of the system in eastern states whereby securities are classified by the bank commissioners In discussing the Oklahoma laws. Senator Curtin thought that they would tend to give the public confidence in the banks and prevent hoarding. Hellman feared that by insuring depositors the state would tempt them to deposit their funds in the banks making the most alluring inducements. Leavitt pointed out that the Oklahoma laws made misuse of bank funds by a bank officer a serious offense, and declared that the drastic laws would guard the state from the evils of wildcat banking, which Hellman feared. A post mortem will be held this morning over the California bank of Oakland, James Edoff, the receiver. having been invited to describe .the failure of that institution, so that the legislators, by a study of bad methods, may obtain ideas for remedial laws.


Article from New-York Tribune, March 29, 1908

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ON THE PACIFIC SLOPE. San Francisco Police Fear Japanese= Corean Feud. [By Telegraph to The Tribune.) San Francisco. March 28.-The assassination of D. W. Stevens created great excitement in the Japanese and Corean colonies here. The Japanese affect to believe that it was designed to include Consul General Kolke among the victims, but there seems to be no evidence of this. Cheung. who did the shooting, was only a few feet away from Stevens. but he was so poor a marksman that he missed three out of five shots. He could have killed Koike easily. but his purpose seemed to be only to kill Stevens. The Coreans here are largely adventurers who have come to this city by way of Hawait They do not learn English as quickly as the Japanese, but in habits and appearance it is almost impossible to tell the two races apart. Most of the Coreans here belong to a revolutionist society and all are extremely bitter against the Japanese, who. they assert. are stamping out all liberty in their country. They declare that private letters give details of many shocking tragedies in Corea. due to Japanese cruelty, which are suppressed by the dominant race. So bitter is the feeling here that the police fear that reprisals will be made and a bloody feud begun. The trouble at Leland Stanford Junior University which has resulted in the departure of many students and the complete ruin of athletic events during the semester is largely due to the selection of unpopular professors to carry out the rules governing the college campus. The method of the old student affairs committee in cases of intemperance was to warn privately students who were known to be drinking. The new rules affected all the students. but they probably would not have aroused opposition had it not been for the appointment of Professor Clark. a radical Prohibitionist, as head of the new committee. It was a demonstration largely against his appointment that led to the trouble. The reception to D. O. Mills. of New York, who is one of the famous California pioneers, by the Chamber of Commerce on Wednesday was a noteworthy affair. More than two hundred and fifty leading citizens gathered to pay their respects to Mr. Mills. who made a short speech in which he praised highly the courage and energy shown in rebuilding the city. He warned the merchants however, that there can be no lasting success without strict integrity and fair play between capital and labor, which means the open shop. Mr Mills declares that any government that does not secure this is a false pretence, not worth what it costs. The new $500,000 state building to accommodate the Supreme and Appellate courts, the Attorney General. Bank and Insurance Commission and other officials will be erected on the northeast corner of Polk and Fulton streets, directly opposite the City Hall. A corner lot. 120 by 100 feet. was purchased this week for $72,000. The Supervisors finally voted $7,400 this week for tearing down the dome of the City Hall, which has been an eyesore ever since the disaster. The dome was of steel, but defects in the foundation would have rendered reconstruction extremely costly. Mrs. Ida Brown. of this city, has lost a legacy of $5.000 because rats chewed off the signature to the will of John Arrowsmith which bequeathed her that amount for nursing him during his last years. Arrowsmith left a brother in Massachusetts, who will inherit his estate of $20,000. Among the deaths of the week was that of Brigadier General Elisha I. Baily, U. S. A. (retired), at the Presidio General Hospital. General Baily was attached to the medical department and was retired twenty years ago. The Alaska Packets' Association has decided to pay union wages to fishermen, the same that were paid last year. About three thousand fishermen were involved. and a general strike would have been called had not the packers' association agreed to their terms. The receiver of the California Bank of Oakland has asked permission to declare a dividend of 10 per cent. or $99,131. He has also begun proceedings against several creditors of the bank Complaints of the ruthless cutting of live trees in the California redwood park in Santa Clara County led to an investigation recently. which shows that State Forester Lull appointed a warden of park who marked certain redwoods as dead when they were really alive. These trees were scarred by fire. but they were not materially injured. as redwood endures much fire without damage. What irritated the friends of the park was that after making roads at much expense to the state lumberment should be allowed to cut many of the finest trees along these roads. under the plea that they had been marked dead or unsightly. Two indictments have been found against Jackson Hatch, of San Jose. formerly one of the most


Article from The San Francisco Call, April 22, 1908

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BLAMES DIRECTORS FOR BANK FAILURE Receiver for California of Oak= land Declares Board Was Not Advisory Body Failure on the part of the board of directors of the California bank of Oakland to conduct the bank along conservative lines and the fact that the directors never acted in the capacity of an advising body are said by J. P. Edhoff, receiver for the defunct bank, to have caused the closing of the institution. Edhoff's testimony was taken yesterday morning by the state legislative committee appointed to inquire generally into banking methods at a meeting held by that body in the rooms of the harbor commissioners in the ferry building. D. Edward Collins, former president of the defunct bank, according to Edboff, had only a superficial knowledge of the science of banking. Many of the loans he made were made irrespective of the loaning capacity of the bank. Many loans of large sums were made to the president of the bank and corporations with which he was actively connected. D. Edward Collins, according to Edhoff, was also too much interested in the welfare of religious organizations and too little interested in his depositors. On one occasion Edhoff claims a loan of several thousand dollars was made to the Oakland Young Men's Christian association, the only security taken by Collins being an oil painting. Edhoff was unable to post the legislative committee on the value of the painting referred to, but he declared it was not a Van Dyke and said it was striking testimony of the loose method in which the bank was conducted.


Article from The San Francisco Call, April 23, 1908

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MISTAKEN USE OF NAME OF BANK IS CORRECTED Strong Union National Bank Is Wrongly Mentioned as in Receiver's Hands In yesterday's issue of The Call, through a confusion of names, it was made to appear that the Union national bank of Oakland was in the hands of a receiver. The reference was to the California bank of Oakland, which has been in the process of liquidation for several months. The receiver of the concern stated that the unbusinesslike methods of some of the directors of the institution were responsible for the fallare, and in reporting the fact the name of the Union national bank was inserted by mistake. The Union national is one of the strongest financial institutions in the city of Oakland and its soundness is common knowledge.


Article from Los Angeles Herald, June 13, 1908

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OAKLAND BANK WANTS ITS SHARE OF VENTURA MONEY A petition for a writ of prohibition to prevent any further steps being taken in the receivership proceedings of the Ventura bank, which recently went into the hands of a receiver, has been filed by James P. Edoff, receiver for the California bank of Oakland. Mr. Edoff claims the Oakland bank has been discriminated against in the proposed distribution of a dividend by the Ventura institution. An order was issued yesterday by the appellate court directing Judge Ewing of the Ventura county superior court and other interested parties to appear June 22 and show why a permanent restraining order should not be made enjoining them from all further action in the case.