9447. Bankers Trust Company (St Louis, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
January 1, 1914*
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
3d5f67a6a8ed3c9c

Response Measures

None

Description

The articles consistently state the Bankers' Trust Company of St. Louis has been in receivership since 1914 and is described as defunct. There is no description of a depositor run or a temporary reopening; events relate to receivership, asset sales, litigation and later revelations (shortage, receiver's death). Therefore this is a suspension that became a permanent closure (receivership). Dates with only years or months are presented with unknown days as 00.

Events (8)
1. January 1, 1914* Receivership
Newspaper Excerpt
The Bankers' Trust company, which now is in hands of the receiver, ... The Bankers' Trust company which now is in receivership.
Source
newspapers
2. November 30, 1916 Other
Newspaper Excerpt
Indictments ... against John E. Franklin and Charles E. Marsh, former officers of the Bankers' Trust company, which now is in hands of the receiver, were made public yesterday ...
Source
newspapers
3. December 8, 1916 Other
Newspaper Excerpt
Bonds ... were held by the National Bank of Commerce ... as security for indebtedness of the Bankers Trust company, a corporation ... now is in the hands of a receiver.
Source
newspapers
4. December 16, 1916 Other
Newspaper Excerpt
Circuit Judge Koerner ... ratified the sale of the bonds ... Milliken bought the bonds for the National Bank of Commerce which held the securities for loans to the trust company.
Source
newspapers
5. March 10, 1917 Other
Newspaper Excerpt
A. R. Ponder paid $1,000,000 in cash to Leon W. Quick, receiver of the Bankers' Trust company, for the San Antonio, Uvalde and Gulf railroad, the chief asset of the trust company.
Source
newspapers
6. July 13, 1922 Other
Newspaper Excerpt
The body of Leon W. Quick, fifty-eight, well-known financier and former receiver of the defunct St. Louis Bankers' Trust company, was found in a garage at his home.
Source
newspapers
7. November 23, 1922 Other
Newspaper Excerpt
Book values ... of the Bankers' Trust Co., ... are declared worthless by Francis E. Williams, receiver of the company, who has recommended ... The Bankers' Trust Co. has been in a receiver's hands since 1914.
Source
newspapers
8. July 12, 1923 Other
Newspaper Excerpt
A shortage of $22,000 in the accounts of Leon W. Quick, former receiver of the defunct Bankers' Trust Co. of St. Louis, ... was revealed in an auditor's report ...
Source
newspapers

Newspaper Articles (9)
1. November 30, 1916 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, November 30, 1916

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Article Text

INDICT BANKERS Officials of Defunct Company Held on Two Counts. Allege False Statement and Defrauding a Bank. St. Louis, Nov. 30.-Indictments charging use of the United States mails to defraud, returned by the federal grand jury November 18 against John E. Franklin and Charles E. Marsh, former officers of the Bankers' Trust company, which now is in hands of the receiver, were made public yesterday when the two defendants in the indictments furnished bonds. The bonds in each indictment were fixed at $5,000. The charges, as set forth in the indietments, arose out of the transactions of the two men while officers of the Bankers' Trust company. One indictment charges the men with sending thru the mails false reports of the condition of the Bankers' Trust company in order to inflate the price of the company's stocks. The second indictment charges that the State Bank of Little Rock, Ark., was defrauded of $30,626, which should have been turned over to cover notes which the bank held, but instead were paid to companies n which the officers of the Bankers' Trust company were interested.

2. December 7, 1916 Iron County Register Ironton, MO
Article from Iron County Register, December 7, 1916

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Article Text

St. Louishas advertised for sale, Friday, December 8th, a lot of collateral placed with the bank by the Bankers' Trust to secure a note given by the Trust Company to the Bank of Commerce. Among the assets offered for sale are the bonds of the San Antonio, Uvalde & Gulf railroad, a note of W. C. Gunn, notes of the Littlejohn Irrigation Company, a note of the Franklin Development Company, and a note of the Cross S. Farming Company. The receiver of the Bankers' Trust Company, Leon W. Quick, recently called a meeting of the stockholders in St. Louis to try and save this property from sale, but nothing was accomplished, those interested saying it looked too much like "sending good money after bad." One evening several weeks ago Fred Cureton, the merchant at Bixby, in the west end of the county, was held up and robbed of several hundred dollars. That evening after Cureton had closed his store for the night a couple of men appeared at his residence and said they wanted to buy some lunch. Cureton then went to the store and got them what they wanted. One of the men tendered a five dollar bill in payment of their purchases. Mr. Cureton opened his safe to get the change and took out a drawer full of money. As he did so a revolver was thrust in his face and he was told to give up the money. There was nothing else to do and Mr. Cureton had to comply with their demands. The men then backed him out of the store at the point of their guns, and disappeared in the darkness. The robbers were strangers and wore no masks or disguises. It is not likely they will be apprehended. The money taken amounted to between $500 and $700. Miss Regina Thome, formerly of Iron county, a sister of Gregor Thome, in St. Louis, and sister of Mrs. Christ Shafer, of Roselle was united in marriage at Quincy, Ills., Wednesday, November 29, 1916. The followin g account of the wedding is reproduced from a Quincy paper: "The marriage of Frank H. Zehnle a grocer of 1216 Spruce street, and Miss Mary Regina Thome, who until three months ago lived in St. Louis, took place at 6 o'clock, Wednesday morning in St. John's Catholic church, Father Joseph Postner officiating. They were attended by Miss Maggie Schnier and John Schutte, and after the ceremony there was a wedding breakfast in the Zehnle home to which about 30 were invited. Pink and white decorations were used about the rooms. In the afternoon a reception was held, a nd in the evening Mr. and Mrs. Zehnle whre charivaried by a company of friends and the members of the R. A. R. band. They will go at once to housekeeping. The REGISTER tenders congratulations and very best wishes! Prominent among the divorce cases on the docket for the October term of circuit court was that of Pernecia Robbins vs. William M. Robbins, brought here from Madison county on a change of venue. Both parties were prominent in their homeand the defendant a man of wealth. Gross indignities and misconduct were alleged in the petition. Some forty witness were here in attendance and there seemed to be considerable bitter feeling. But before going to trial an agreement was reached out of court, the plaintiff being given a decree of divorce and awarded alimony to the extent of $5,000 or more. That was supposed to terminate affairs between Mr. and Mrs. Robbins,' but it didn't. Bright and early Monday morning the divorced man and wife put in an appearance before Recorder Hawkins, asked for a marriage license, sent for Rev. N. B. Henry who solemnized the marriage in the Recorder's office. Robbins is a man probably fifty-two

3. December 8, 1916 The Fargo Forum and Daily Republican Fargo, ND
Article from The Fargo Forum and Daily Republican, December 8, 1916

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Article Text

RESTRAIN BOND SALE. (By Associated Press.) St. Louis, Dec. 8.-Suit to restrain the National Bank of Commerce of St. Louis from selling at auction mortgages and bonds of the Bankers' Trust company, with a face value of $4,539,000 to satisfy a claim of $776,000 was filed in the federal district court here. The suit was filed by two creditors of the Bankers' Trust company, which now is in receivership. The auction is scheduled for Friday afternoon, Judge Dyer heard arguments on the suit for an injunction this morning. The Bankers' Trust company held stock in small town banks throughout the southwest,

4. December 9, 1916 Tulsa Daily World Tulsa, OK
Article from Tulsa Daily World, December 9, 1916

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Article Text

MILLIKEN BUYS RAIL BONDS Millionaire Pays $785,000 for Large Block of Securities. ST. LOUIS, Dec. 8.-Bonds of the San Antonio, Uvalde & Gulf railroad with a par value of $3,647,000 were sold today to John T. Milliken, multimillionaire manufacturer and mine owner of St. Louis, for $785,000. The bonds were held by the National Bank of Commerce of St. Louis as security for indebtedness of the Bankers Trust company, a corporation that promoted the railroad and that now is in the hands of a receiver. The amount paid by Mr. Milliken for the bonds covers in part the indebtedness of the Bankers Trust company to the National Bank of Commerce. He bought the bonds at private sale after a proposed auction announced for today had been cancelled. Other collateral held by the National Bank of Commerce against the Bankers Trust company was released to the receiver. This collateral represents Texas real estate and about $60,000 in the stock of small banks.

5. December 16, 1916 The Waxahachie Daily Light Waxahachie, TX
Article from The Waxahachie Daily Light, December 16, 1916

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Article Text

# MAY BE NO APPEAL IN RAILWAY CASE SALE OF BONDS OF UVALDE RAILWAY RATIFIED BY FEDERAL CIRCUIT COURT. Bonds Bought By John T. Milliken for $785,334.17—Securities Held By a Trust Company. ST. LOUIS, Dec. 16.—Doubt was expressed today whether an appeal would be filed in the decision of Circuit Judge Koerner, who late yesterday ratified the sale of the bonds of the San Antonio, Uvalde and Gulf railway to John T. Milliken. The purchase price was $785,334.17. The bonds are said to have a face value of $3,467,000. An appeal was consedered when Federal Judge Dyer dismissed the injunction suit of the Bankers' Trust company to prevent ratification of the sale on December 7. The dismissal was made on the grounds that it was a fitting case for decision by the circuit court, which had appointed a receiver for the Bankers' Trust ompany. Milliken bought the bonds for the National Bank of Commerce which held the securities for loans to the trust company. The injunction suit was filed by W. E. Brauer of Hoyelton, Illinois, and W. W. Holt of Tuckerman, Ark. Both said they would appeal but the attorney claim that an appeal would be useless. The securities, which Milliken says, are not worth more than the purchase price, can be bought by the receiver for the trust company in ninety days through a compromise agreement.

6. March 10, 1917 The Lakeland Evening Telegram Lakeland, FL
Article from The Lakeland Evening Telegram, March 10, 1917

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Article Text

U. S. MERCHANTMEN WILL FIRE ON SUBMARINES THE MOMENT CRAET SIGHTED MILLION CASH BUYS $54,000,000 RAILROAD This Step Is St. Louis, March 10.-A. R. PonBased On der, Southeast Missouri railroad builder: paid $1,000,000 in cash to Leon W. Quick, receiver of the BankGermany's ers' Trust company, for the San Antonio, Uviede and Gulf railroad, the Declaration chief asset of the trust company. The road is 310 miles long and cost more than $54,000,000. ALL U-BOATS ARE HOSTILE SINCE

7. July 13, 1922 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, July 13, 1922

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# NEWS BITS FOR BUSY PEOPLE Almost the entire Berlin press has been tied up by a printers' strike. Stanley Hubbard, pilot of a prohibition airplane stationed at Miami, Fla., was wounded in a battle with a liquor boat off Cape Florida. A Mexico City dispatch says three persons are under arrest, including Monteade Oca, in connection with the kidnaping of A. Bruce Bielaski. A detail of the state police arrived at Punxsutawney, Pa., to take over the coal strike situation after a night of disorder in the mining district around Punxsutawney. Wines and liquors valued at $22,000 were confiscated and three men arrested in the home of Morris Cassin, 1609 Lawndale avenue, Chicago, by prohibition agents. Employees in 11 grain elevators in Kansas City, Mo., numbering 225 men went out on strike. They had been refused a wage increase and demands for a seniority rule. Louise Gomez, former Lafayette (Ind.) girl and wife of a Brazilian diplomat residing in Paris, committed suicide by inhaling gas. A letter said she was "tired of life." Mrs. Mary Louise Colt, wife of United States Senator LaBaron B. Colt, died at Linden place, Bristol, R. I., after an illness of a few days. Mrs. Colt was born in Milwaukee seventy years ago. "Babe" Ruth continued his home-run swatting streak, crashing out a circuit clout in the seventh inning of the New York-Philadelphia game at Philadelphia, for his thirteenth homer of the season. The inter-allied council of ambassadors at Paris recognized Lithuania as an independent nation. It was formerly a part of the Russian empire. The United States was not represented at the meeting. The body of Leon W. Quick, fifty-eight, well-known financier and former receiver of the defunct St. Louis Bankers' Trust company, was found in a garage at his home. A shotgun was found beside the body. Dun's Review of New York Trade, July 1, 1922, says: "The half year just ended brought a distinct advance in business, with most of the gain in confidence and actual transactions achieved during the second quarter." Fifteen of Chicago's most brightly lighted cafes, cabarets and roadhouses were raided by United States prohibition agents-places long considered "Immune" from interference. Fifty owners, managers and waiters were arrested. Six persons met their death when the Spray, a St. Lawrenco river tug, was sideswiped by the steamer Cairndhu of the Robert Reford line. The Spray sank almost immediately, all on board being trapped in their bunks. Five men and a woman were the victims. Guns blazed in Chicago's Italian district and another man fell. Thomas R. Petrotta, wealthy fruit grower, wine merchant and broker of Sacramento, Cal., is dead as a result of a feud started four years ago. On June 17 he came to Chicago to close a $200,000 wine deal. The government at Washington will not move to recover the patents of the Chemical Foundation, ordered investigated by President Harding, until the return to Washington of Col. Thomas W. Miller, the alien property custodian, and Attorney General Daugherty. Cotton jumped about $7.50 a bale within ten minutes after the publication in New York of the first government forecast of the season. Heavy buying came from all quarters as it was realized that the estimated yield of 11,065,000 bales would probably not meet requirements. Following a conference between President Harding and Silas Strawn, retiring president of the Illionis Bar association, prediction was made at Washington that the nomination of Assistant Attorney General James H. Wilkerson of Illinois to be federal district judge at Chicago to succeed Judge Landis would be sent to the senate.

8. November 23, 1922 Iron County Register Ironton, MO
Article from Iron County Register, November 23, 1922

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$4,224,810. "Assets" Declared Worthless. (St. Louis Post-Dispatch.) Book values, or so-called assets, of the Bankers' Trust Co., to the amount of $4,224,810, are declared worthless by Francis E. Williams, receiver of the company, who has recommended, in a report to the Circuit Court, that they be stricken from the record of the company's resources. The largest item in the proposed reduction is the cutting of $3,949,000, the valuation of bonds held by the company, to $1,000,000. The value of real estate, it is stated, should be shown as $59,557,73, instead of $130,138.74. A reduction of about onehalf in the book value of stocks held by the company, which appeared as $955,677.50, is also declared necessary. Other items which it is sought to charge off are $719,623.33, as bills receivable, and overdrafts, cash items and judgments, comparatively small amounts. The Bankers' Trust Co. has been in a receiver's hands since 1914. Leon W. Quick, who was made receiver at that time, killed himself last July. Williams was at that time serving as co-receiver, and has since been in charge as receiver. W. L. Sturdevant, attorney for the receiver, said today: "Since the receivership began the receiver has liquidated more than $3,000,000 of indebtedness. The actual claims do not now greatly exceed $150,000. The report shows a cash balance of $33,370 76 on hand. "The matters to be charged off are not assets, bnt book valuations. The The receiver's report does not show some live and promising assets of the company, one of these being a $43,000 judgment, which is a lien on the Cross-S ranch in Texas, a valuable estate. "The Bankers' Trust Co. also owns between 9000 and 10,000 acres of land in McMullen and Atacosa counties, Texas. At present the oil prospects in the vicinity of the Atacosa county land are considered very good and S the land has a high potential value." e The receiver's report says that the y book values, as now appearing, are t a hindrance and an incumbrance. It a is also stated that Qulck's death has caused confusion as to some details o which have not yet been fully adjustf ed.

9. July 12, 1923 The Seattle Star Seattle, WA
Article from The Seattle Star, July 12, 1923

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Bank Shortage of $22,000 Discovered ST. LOUIS, July 12.-A shortage of $22,000 in the accounts of Leon W. Quick. former receiver of the defunct Bankers' Trust Co. of St. Louis, who was found shot to death in his garage last July, was revealed in an auditor's report of the company's books, filed here today.