9124. Lombard Investment Company (Kansas City, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
April 5, 1895
Location
Kansas City, Missouri (39.114, -94.627)

Metadata

Model
gpt-5-mini
Short Digest
c29a0e2ddfd19496

Response Measures

None

Description

The articles describe the Lombard Investment Company being in the hands of a receiver (Frank Hagerman), sale of assets confirmed, foreclosure litigation, and finally the discharge of the receiver closing the receivership. There is no mention of a depositor run or a temporary suspension/reopening — this is a receivership leading to closure. Dates are taken from article publication dates and in-text references (receiver referenced by April 5, 1895; sale confirmed Jan 30, 1896; receiver discharged Oct 5, 1896 per Oct 6 report).

Events (4)
1. April 5, 1895 Receivership
Newspaper Excerpt
Among the directors are Messrs. Whitney, Fairchild and Ladd, the former of the Lombard Company, with Mr. Hagerman, who is now sole receiver.
Source
newspapers
2. January 30, 1896 Other
Newspaper Excerpt
Judge Phillips yesterday confirmed the sale of the assets in the case of the New-York Security and Trust Company et al against the Lombard Investment Company et al.
Source
newspapers
3. October 1, 1896 Other
Newspaper Excerpt
The Atlantic Trust company of New York, has filed in the Federal court, a bill in equity against Frank Hagerman, receiver of the Lombard company of Kansas City, ... asking for a decree of foreclosure
Source
newspapers
4. October 5, 1896 Receivership
Newspaper Excerpt
Yesterday morning in the federal court Judge Philips made an order discharging Frank Hagerman as receiver of the Lombard Investment Company and releasing his bondsmen. This closes up the receivership entire
Source
newspapers

Newspaper Articles (5)
1. April 6, 1895 The Herald Los Angeles, CA
Article from The Herald, April 6, 1895

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Article Text

A Change in Officers KANSAS CITY, April 5.-At a meeting of the directors of the Concordia Loan & Trust Company, which controls a large majority of the business of the Lombard Investment Company. held at the office of the company in Kansas City, Kan., today, Charles S. Fairchild, of New York, was elected president. and Sanford B. Ladd, of Kansas City, vice-president. Mr. Fairchild is now with the Security Loan & Trust Company of New York, and was Secretary of the Treasury during Mr. Cleveland's first administration. Among the directors are Messrs. Whitney, Fairchild and Ladd, the former of the Lombard Company, with Mr. Hagerman, who is now sole receiver.

2. January 31, 1896 New-York Tribune New York, NY
Article from New-York Tribune, January 31, 1896

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Article Text

BUSINESS EMBARRASSMENTS. Minneapolis, Minn., Jan. 30.-The Northern Savings and Loan Association went into the hands of a receiver yesterday. Its last statement showed a total of $12,217 assets. The association was lable on its instalment stock of $23,822. Kansas City, Mo., Jan. 30.-Judge Phillips yesterday confirmed the sale of the assets in the case of the New-York Security and Trust Company et al against the Lombard Investment Company et al. The title is invested in the purchasers-James Salman, Frank K. Hipple and William W. Crapo-upon their paving the balance of the purchase price of $200.000. The properties enumerated are the Lombard Investment Company, of Kansis: the Lombard Investment Company, of Missouri: Valley Loan and Trust Company, Alliance Trust Company and City Real Estate Company. The title is Subject to any contracts made by a majority of the five receivers on or before March 18, 1895. or by the sole recelver since that time.

3. October 1, 1896 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, October 1, 1896

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Article Text

BIG SUIT ON HAND. Topeka, Kas., Oct. 1.-The Atlantic Trust company of New York, has filed in the Federal court, a bill in equity against Frank Hagerman, receiver of the Lombard company of Kansas City, and others asking for a decree of foreclosure in the matter of a million dollar debenture bond, delivered by the Lombard company to the plaintiff in trust for money loaned. The suit is the first step towards the re-organization of the Lombard company.

4. October 2, 1896 Pine Bluff Daily Graphic Pine Bluff, AR
Article from Pine Bluff Daily Graphic, October 2, 1896

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Article Text

Filed & Bill. TOPEKA, Oct. 2.-The Atlantic Trust company of New York has filed in the Federal court a bill in equity against Frank Hagerman, receiver of the Lombard company of Kansas City and others, asking for a decree of foreclosure in the matter of $1,000,000 debenture bonds delivered by the S, Lombard company to the plaintiff in trust for money loaned. The suit is the first step towards the reorganization of the Lombard company.

5. October 6, 1896 Kansas City Daily Journal Kansas City, MO
Article from Kansas City Daily Journal, October 6, 1896

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Article Text

# LOMBARD RECEIVERSHIP CLOSED. Receiver Frank Hagerman Discharged and Bondsmen Released. Yesterday morning in the federal court Judge Philips made an order discharging Frank Hagerman as receiver of the Lombard Investment Company and releasing his bondsmen. This closes up the receivership entire, with the exception of the final settlement of the questions pertaining to the disposition of the Kansas guarantee fund and the Montana Savings bank trust fund, in both of which matters there are some questions of the priority of liens and rights that will have to be determined by the court, and are now in process of solution, and will be reached some time during the winter. In the long litigation that has resulted from the receivership and in untangling the great mass of facts and complications surrounding the affairs of the company, Mr. Hagerman has handled the matter so that his every act has had the indorsement of the court, and his discharge closes one of the heaviest and most arduous tasks that has been in the federal court for many years.