987. Pioneer Land & Loan Bank (San Francisco, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
October 8, 1877
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
bea1fdfbca7087bd

Response Measures

None

Description

Multiple contemporary dispatches (early October 1877) report the Pioneer Land & Loan Bank of San Francisco suspended/forced into liquidation, a receiver (P. J. White / P. White) appointed, warrants issued for manager J. C. Duncan for fraud/over-issue of Safe Deposit Company stock, and expectation depositors will recover little. Articles describe failure/liquidation rather than a depositor run, so classification is suspension leading to closure/receivership.

Events (2)
1. October 8, 1877 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Heavy payments and withholding of aid precipitated liquidation; investigation revealed over-issuance of Safe Deposit Company stock, hypothecation of that stock, reckless real-estate investments and alleged fraud by manager J. C. Duncan.
Newspaper Excerpt
J. C. Duncan, manager of the Pioneer Land and Loan Bank, announces this morning that the heavy payments required to-day and the withholding of aid depended upon forces the bank into liquidation.
Source
newspapers
2. October 9, 1877 Receivership
Newspaper Excerpt
P. J. White has been appointed receiver of the bank. The committee of stockholders to-day began an investigation of the affairs of the Pioneer Bank; over-issue of about 4,000 shares found; warrants issued for the arrest of J. C. Duncan and Benjamin Le Warne.
Source
newspapers

Newspaper Articles (21)
1. October 8, 1877 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, October 8, 1877

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Gone Into Liquidation. SAN FRANCISCO, Oct., 8.-J. C. Duncan, manager of the pioneer land and loan bank, announces this morning that the heavy payments required to-day and withholding of aid depended upon. forces the bank into liquidation. Assets, con sisting of real estate at cost price, $1,254, 000; liabilities, $1,213,000. The manager stated that every bing possible has been done to sustain the bank, including the sacrifice of his OWD means to the last dollar. He reccommends the appointment of a receiver and restraining by law of all holders of securities from sacrificing same. Another dispatch says: The failure of the Pioneer bank has DO significance, as regards the status of other sayings and loan banks of the city. The business of the bank was conducted on a basis peculiar to itself. The assets, instead of being loaned out on usual securities, were in main, directly invested in real estate, rents. and the increase in value of which were looked to for profits of the institution. It is rumored on the street that the present complications arise in part, from the bank backing up parties engaged in shortening in stocks, the recent rise in the market exercising a disastrous effect on speculation.

2. October 8, 1877 Public Ledger Memphis, TN
Article from Public Ledger, October 8, 1877

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Failure of a California Bank. SAN FRANCISCO, October 8.-J. C. Duncan, manager of the Pioneer Land and Loan Bank, announces this morning that the heavy payments required to-day and the withholding of aid depended upon forces the bank into liquidation. Assets, consisting of real estate at cost price, amount to $1,254,000. Liabilities, $1,213,000. The manager states that everything possible has been done to sustain the bank, including the sacrifice of his own private means to the last dollar. He recommends the appointment of a receiver, restraining by law all holders of securities from sacrificing the same.

3. October 9, 1877 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 9, 1877

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SAN FRANCISCO. The Failure of the Pieneer BankA Model President-J. c. Dus. cau to be Arrested, If He Can be Found. [SPECIAL TO THE GOLD HILL DAILY NEWS.] SAN FRANCISCO, October 9.-The failure of the Pioneer Bank threatens to prove no joke to depositors, but decidedly the best joke of the season comes to the surTace in an interview with a Call reporter had to-day with Thomas Gray, President of the suspended bank. It is proper to state, as a preface to the interview, that Mr. Gray is a very straightforward, blunt spoken style of a man, who bears a high reputation for integrity, but as regards his reputation as a financier he never had any-good, bad or indifferent. He is father-in-law of W.T. Duncan, to which fact he probably owed his position as President. On being approached by a reporter with the customary request for information concerning the affairs of the bank, he was at first disposed to be uncommunicative, but on being pressed broke out as follows: I don't want to say anything about the affairs of the bank. I don't know anything about them ; I never did know anything about them and I don't want to know anything about them. All I know is that when I was hard-up for the necessaries of life I was appointed President at a salary which would about keep a dog. I went in there, sat at my desk and drew my salary-and that's all I ever did. I never knew what was going on in the bank. Duncan never told me anything about it, and no one paid any attention to what I had to say. I didn't know anything about how things stood on Saturday, and supposed everything was as usual. This morning I received a note from Mr. Duncan telling me not to go down to the bank. I didn't know what to make of it; I thought I had been discharged, until I looked in the papers and found the d-n thing had busted : and now where's my salary?" Warrants to-day were issued for the arrest of J. C. Duncan, manager of the Pioneer Bank and principal stockholder of the Safe Deposit Company, and Benjamin C. Lewarne, Secretary of the Safe Deposit Company, charged with being jointly concerned in over issue of the stock of the I Safe Deposit Company. The amount of over issue is not yet ascertained, but it is known to be large. The over issue was manipulated by Lewarne, who, in making transfers of the stock, would fill out new certificates, and after obtaining the signature of the President of the company (Eugene Casserly), would interpolate | words and figures to raise the face of the certificate ten or a hundred fold. These certificates were then hypothecated by Duncan, which raises the presumption that he and Lewarne put up the job between them. W. S. Lucky, secretary pro tem. of the company, will issue to-morrow a call for all the stockholders of the com( pany to send in their certificates to enable the officers to ascertain the amount of the overissue. So far as deposits in the vault .. of the company are concerned, everything is all right. The vault has three doors, the outer one of which can only be opened 1 by Frank Whitney, superintendent of the company's patrol. The second door had a : time lock, which could only be opened by Lewarne, while the third door was under the charge of Lucky, who, previous to his appointment as secretary pro tem., was assistant superintendent of patrol. The boxes in which deposits are kept can only be opened by depositors in the presence of guard The police of all the towns in

4. October 9, 1877 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 9, 1877

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Forced into Liquidation. SAN FRANCISCO, October 8.-J.O. Dun. can, Manager of the Pioneer and Loan Bank, announces this morning that heavy payments required to-day, and the withholding of aid depended on, force the bank into liquidation. The assets, consisting of real estate, at cost price, are $1,254,000; liabilities, $1,213,000. The Manager states that everything possible has been done tosustain the bank, including the sacrifice of his own means to the last dollar. He recommends the appointment of a receiver, and the restraining by law of all holders of securities from sacrificing the same. The failure of the Pioneer Bank has no significance as regards the status of the other savings and loan banks of the city. The business of the bank was conducted on a basis peculiar to itself, Its assets instead of being loaned out on the usual securities were, in the main, directly invested in real estate, the rents and increase in value of which were looked to for the profits of the institution. It is rumored on the street that the present complications arise in part from the bank backing up parties engaged in shorting stocks, the recent rise in the market exer. cising a disastrous effect on that speculation.

5. October 9, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, October 9, 1877

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Bank Failure. SAN FRANCISCO, October 8 - J. C. Duncan, manager of the Pioneer and Loan Bank, announces this morning that heavy payments required to-day, and the withholding of aid depended on, will force the bank into liquidation. The assets, consisting of real estate at cost price. will be $1,254,000, liabilities $1,213,000. The manager states that every. thing possible has been done to sustain the bank, including the sacrifice of his own means to the last dollar. He recommends the appointment of & receiver, and the restraining by law of all holders ol securities from sacrificing the same. The failure of the Pioneer Bank has no significance as regards the status of the other savings banks and loan banks. The business of the bank was conducted on 8 basis peculiar to itself. The assets instead of being loaned out on the usual securities were in the main directly invested in real estate rents, the increase in the value of which was looked to for the profits of the institution. It 18 rumored on the street that the present complications arise in part from the bank backing up parties engaged in shorting scocks, the recent rise in the market exercising a disastrous effect on that speculation. SAN FRANCISCO, October - The fail. ure of W. T. Duncan, a member of the Pacific Stock Exchange, is announced. It grew ont of the failure of the Pioneer Bank, of which his father was manager. Young Duncan had been dealing in Bonanza stock, backed by the bank. At a meeting of the creditors of the bank this afternoon a committee of five was appointed to take possession and report at the adjourned meeting of the creditors. The bankers of the city say the failure was not unexpected by them, and the impression seems general that its affairs have been badly managed. The failure will prove disastrous to the depositors.

6. October 9, 1877 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 9, 1877

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ed at Fernandina Saturday and three deaths Sunday. Yesterday there were five new cases and one death reported. Dr. T. P. Weiford, one of the physicians who went to Fernandina from Jacksonville when medical aid was asked, is among the sick, and was reported dying yes terday. There have been two new cases and one death from yellow fever at Port Royal, since Saturday. There have been forty-two cases in all. A dispatch from the Mayor of Port Royal yesterday says are in a deplorable condition here. There are now forty eight cases of yellow fever under treatment. One death has occurred since last night. We are in want of food, nourishment and means to procure nurses for the sick. There are not enough convalescents to care for the sick. At Columbia, S. C., yesterday, the colored ex-Congressman Smalls had a preliminary (X amination of the charges against him. Wood ruff testified that he paid Smalls $5,000 as a bribe to vote for a measure before the Legislature in 1873. Smalls was held to bail to abswer the indictment in the Circuit Court, which meets on the fourth Monday in October. Mr. Msxwell, Senator from Marlboro' county, in default of bail was imprisoned on 3 similar charge. These charges of bribery are connect ed with the prioting swindles by the Republican Printing Company, of which Voodruff was the head centre. His testimony is based upon a memorandum book he kept in short hand. Philadelphia Commandery No. 2, Knights Templars, which is making arrangements to attend the Paris Exposition of 1878, is in receipt of a letter from F. W. Seward, Acting Secre tary of State, which answers the question whether the commandery would be permitted to wear their side arms in France. The Acting Secretary informs the commandery that the French Government will accord them permission to wear their insignia in the meetings of their various corporations while in France, but that they should abstain from wearing them in public. The report of the commission to investigate the origin of the Patent Office fire declares that there is no foundation for the supposition that the fire was from an incendiary origin, or from spontaneous combustion. but are inclined to attribute it to a fire kindled of dry pine 00 the morning that the fire occurred in the ladies copying room in the basement, and that the sparks communicated to the roof through some defect in the flus. The temporary roof of the west wing was completed yesterday in time to shield that portion from the rain storm. The ministers composing the Preachers' Meeting of Richmond and Manchester have resolved themselves into an association to be known as the Duscau Monument Association, for the purpose of securing the crection of a suitable monument over the grave of the late Rev. James A. Duncan. Yesterday at a meeting of the miners em. ployed by the Susquehanna Coal Company, at Nanticoke, the men by 2 unabimous vote decided to resume work. They will receive a ten per cent. advance. Operations will begin as soon as the mines can be put in order. A St. Thomas dispated of yesterday's date says: The U. S. steamer Frolie, of the South Atlantic squadron, arrived at Thomas this morning, all well on board. A hurricane was encountered near Curacoa on the 23d ult., in which the vessel sustained severe damages. The Manager of the Pioneer Land and Loan Bank of San Francisco announces its susp ension and asks for the appointment of a receiver. The assets of real estate at cost price are $1,254, 000 and the liabilities $1,213,000. The readjusters at Amissville, Rappaban nock county, have resolved to vote for J. E. Massey for Governor, norwithstanding the fact that that gentleman is running as a candidate for the State Senate from Albemaric. At a late meeting of the Floyd Brigade, at which General G. C. Wharton presided, steps were taken for the erection of a monument to the memory of the late Gen. J. B. Floyd. E. Lawton, Daniel W. Lewis and Edward M. Spilman have been appointed revenue storekeepers and gaugers for the sixth district of Virginia. The United States Supreme Court met at Washington yesterday pursuant to adjoura ment. The Judges paid their repects to the President. Senator Patterson cluded the Marshal of the District of Columbia, who had the warrant for his arrest, by secreting bimself in the country house of A. R. Shepherd, of Washington. A Richmond, Ind., dispatch says Senator Morton has been improving slowly for the past 36 hours. He cannot be removed to Indian apolis, however, without endangering his life. Last Saturday Albert A. Ware, of Vermont, shot himself to death at the Girard House, Philadelphia. Senator Spencer, of Alabama, gives the as surance that be will be present in the Senate on the opening of Congress next Monday. The boiler at Schmeyer's Iron Works at Macangie, near Allentown, Pa., exploded yester day afternoon, killing a boy named Oswold. The Union Banking Company of Baltimore suspended yesterday.

7. October 9, 1877 The New York Herald New York, NY
Article from The New York Herald, October 9, 1877

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A CALIFORNIA BANK SUSPENDED. SAN FRANCISCO, Cal., Oct. 8, 1877. J. C. Duncan, manager of the Pioneer Land and Loan Bank, announces this morning that heavy payments required to-day and the withholding of aid depended upon forces the bank into liquidation. The assets, consisting of real estate, at cost price, are stated to be $1,254,000 and the liabilities $1,213,000. The manager states that everything possible has been done to sustain the bank, including the sacrifice of his own means to the last dollar. He recommends the appointment of a receiver and the restraining by law of all holders of securities from sacrificing the same. The failure has no significance as regards the status of other savings and loan banks of this city. The business of the bank was conducted on a basis peculiar to itself. The assets, instead of being loaned out on the usual securities, were in the main directly in vested in real estate, the rents and increase in value of which were looked to for the profits of the institution. It is rumored on the street that the present complicaLIONS arise in part from the bank backing up parties engaged in sporting stocks, the recent rise in the market exercising a disastrous effect on that speculation. A RESULT OF STOCK SPECULATION. The failure of W. T. Duncan, a member of the Pacific Stock Exchange, which has been announced, resulted from the failure or the Pioneer Bank, of which Mr. Duncan's father was manager. Young Duncan has been shorting Bouanza stock. backed by the bank. At a meeting of the creditors of the bank this afternoon a committee of five was appointed to take possession of the bank and report to the adjourned meeting of creditors. Bankers of this city say the failure was not unexpected by them, and the impression seems general that the affairs of the bank were badly managed and that the failure will prove disastrous to depositors.

8. October 10, 1877 New-York Tribune New York, NY
Article from New-York Tribune, October 10, 1877

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THE PIONEER BANK FAILURE. DUNCAN & LE WARNE CHARGED WITH AN OVERISSUE OF STOCK-THE ASSETS squandered. SAN FRANCISCO, Oct. 9.-Warrants have been issued for the arrest of Joseph C. Duncan, manager of the Pioneer Bank, and the principal stock-holder in the Safe Deposit Company, and Benjamin F. Le Warne, secretary of the Safe Deposit Company, who are charged with the over-issue of stóck of the Safe Deposit Company. The amount of the fraudulent issue is not yet ascertained, but it is kno 11 to be large. The over-issue was manipulated by Le Warne while Duncan hypothecated the stock. The deposits in the vault of the company are all right. Neither Duncan nor Le Warne have been seen since Saturday. Tue police of all tue towns in the State have been instructed to be on the look-out for the fugitives. A committee of stockholders to day began an investiga.ion of the affairs of the Pioneer Bank. The cashier, who assisted, stated that Duncan was practically the sole stockholder. It is believed that very little will be leit for depositors, as the real estate included ID the assets 18 heavily mortgaged. and the stock of the Safe Deposit Company, which constituted the balance of the assets, has been hypothecated by Duncan. P. J. White has been appointed receiver of the bank. An examination of the certificates of stock of the Safe Deposit Co., banded in by the holders, show that an over-issue of about 4,000 shares had been made, on which Duncan has realized in the neighborhood of $100,000. The b lief 18, that most of this has been swallowed up in floating the bank.

9. October 10, 1877 Lyon County Times Yerington, Silver City, Dayton, NV
Article from Lyon County Times, October 10, 1877

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Telegraphic Paragraphs. On the 30th ultimo General Miles engaged and defeated the Nez Perces. The Indians lost 17 killed, including Looking Glass and Joseph's brother and three other chiefs, and 40 wounded; also 600 horses, mules and ponies. Colonel H. R Sibley has been arrested for forgery. The railroad bridge at Atchison, Kansas, is so badly damaged that travel over it has been suspended. Postmaster General Key has approved a new plan for second-class mail matter. The Patent Offi e fire originated from a fire built in the ladies' copying room. Ex. Congressman Small of South Carolina has been held to answer for receiving a bribe when in the Legislature, and ex-State Senator Maxwell, in default of bail, was sent to jail. The United States Supreme Court IS in session. Morrissey and Ke'ly are going to Washington, the former in the interest of Randall for Speaker, and the latter to work for Cox. The El Paso, Texas, uprising is not of an internati nal character. The dispatches of yesterday say there is considerable excitement East relative to a probable War with Mexico. The elections in Ohio and Iowa passed off quietly, but we have no news indicating the result. Gold yesterday, 102%. General Gourko has taken command of the Russian cavalry in the rear of Plevna. The heavy fall of snow and rain will probably suspend military ope rations in Bulgaria and the Balkans. Gambetta's manifesto has been issued, and is applanded by the Republicans and condemued by the partisans of McMahon. Mexico is ordering munitions of war. The Pioneer Land and Loan Bank of San Francisco has suspended, caused by the losses of W. T. Duncan, son of the manager, in the stock market. Warrants have been issued for the arrest of J. C. Duncan and B. C. Lewarne, charged with being concerned in the over issue of the Safe Deposit Company's stock. The failure of W. T. Duncan of the Pacifle Board was announced Monday. Report says he is about $140,000 short.

10. October 10, 1877 Morning Appeal Carson City, NV
Article from Morning Appeal, October 10, 1877

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PRESIDENTS AND PRESIDENTS. President Hayes is represented as follows in a special dispatch to the New York Times of Monday: "A Cabinet officer last night intimated that Hayes would rather see a Southern Democrat elected Speaker than a Northern Democrat, because he thought the Southern Democrats more, conservative than their Northern bretheren. He thinks an ex-Confederate in the Speaker's chair would go far to heal sectional difficulties." The President is doubtless right. All that is needed to restore good feeling and cause the bridging of the bloody chasm is for the government to be restored to the hands of our lately deluded Southern bretheren. The fact is, they never did ask for anything but to have things their own way. Somehow this goodish desire of the Chief Executive to "heal sectional difficulties" seems to us to be reflected by the "conduct and confessions of good Mr. President Gray of the Pioneer Bank of San Francisco. It would seem that he had been acting upon an impulse to bring on an era of good feeling by letting his associates have things all their own way. That was all they wanted. Mr. Gray acted upon the convenient hypothesis that the best way to avoid trouble was never to bother his head about any of the little "sectional" differences between the depositors and the trustees and cashiers of his bank. He was for peace. He is immortalized in a San Francisco dispatch as follows: The failure of the Pioneer Bank threatens to prove no joke to depositors, but decidedly the best joke of the season comes to the surface in an interview which a Call reporter had to-day with Thomas Gray, president of the suspended bank. It is proper to state, as a preface to the interview, that Mr. Gray is a very straightforward, blunt spoken style of a man, who bears a high reputation for integrity, but as regards his reputation as a financier he never had any-good, bad or indifferent. He is father-in-law of J. C. Duncan, to which fact he probably owed his position as president. On being approached by a reporter with the customary request for information concerning the affairs of the bank, he was at first disposed to be uncommunicative, but on being pressed broke out as follows: "I don't want to say anything about the affairs of the bank. I don't know anything about them; I never did know anything about them and I don't want to know anything about them. All I know is that when I was hard-up for the necessaries of life I was appointed president at a salary which would about keep a dog. I went in there, sat at my desk and drew my salary -and that's all I ever did. I never knew what was going on in the bank. Duncan never told me anything about it, and no one paid any attention to anything I had to say. I don't know how things stood on Saturday, and supposed everything was as usual. This morning 1 received a note from Mr. Duncan a telling me not to go down the bank. I did'nt know what to make of it; I thought I had been discharged, until I looked in the papers, t and found the d-n thing had busted; and ( now where's my salary ?" o

11. October 10, 1877 Ottumwa Weekly Courier Ottumwa, IA
Article from Ottumwa Weekly Courier, October 10, 1877

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California Bank Busted. SAN FRANCISCO, Oct. 8.-J. C. Duncan, manager of the Pioneer Land and Loan Bank, announces this mornthat the heavy payments required today and the withholding of aid depended upon, forces the bank into liquidation. Assets, consisting of real estate, cost price one million two hundred and fifty-four thousand, liabilities one million two hundred and thirteen thousand. The manager states that everything possible has been done to sustain the Bank, including the sacrifice of his own means to the last dollar. He recommended the appointment of a receiver, and restraining by law of all holders of securities from sacrificing the same.

12. October 10, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, October 10, 1877

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The Pioneer Bank Failure. SAN FRANCISCO, Oc ober 9-A committee of stockholders to-day began an investigation of the affairs of the Pioneer Bank. The cashier, who aided, stated that Duocan was practically the sole stockholder. It is believed that very little will be left for the depositors, as the real estate included in the assets is heavily mortgaged, and the stock of the Safe Deposit Company, which con tituted the balance of the assets, has been hypothe. cated by Duncan. P. White has been appointed receiver of the bank. An examination of the certificates of the stock of the Safe Deposit Company, handed in by the holders, show an over issue of about 4,000 shares has been made, on which Duncan realized in the neighborhood of one hundred thousand dollars. The belief is that most of this has been swallowed up by the floating debt of the bank and that Durean has taken & comparatively small amount with him in the flight. W. T. Duncan, of the Pacific Exchange, and son of the absconding banker, denies that the bank has been affected by his stock speculations, and attributes the failure to unsuccessful real estate speculations. The police have not yet succeeded in finding any trace of either Duncan or Leraine. It has become evident that Dunkan has within the past week premeditated flight and has made preparations for it. Cappers have been employed by him to induce deposits of funds, 12 which they have been successful to a considerable extent. Every effort has been made to hinder the withdrawal of deposits from the bank. It seems to have been strictly a family concern. Thos. Gray, the father of Duncan, was the figure-head president, knowing nothing of the affairs of the bank; Lenwarne, the secretary, is Duncan's son-inlaw; Joseph Smedberg, trustee, bears 8 similar relation. The whole affair evinces the most reckless mismanagement and flagrant dishonesty in the conduct of the bank.

13. October 10, 1877 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, October 10, 1877

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SAN FRANCISCO is the scene of the last great bank failure. The Pioneer Land and Loan Bank, of that city, suspended payments Monday. Its liabilities are $1,113,000, and its nominal assets $1,254,000 mostly in real estate.

14. October 10, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, October 10, 1877

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CRIME. CALIFORNIA'S SPENCER. SAN FRANCISCO, Oct. 0.-A committee of stockholders to-day commenced an investigation of the affairs of the Pioncer Bank. The Cashier, who assisted, stated that Duncan was practically the sole stockholder. It is believed that very little will be left for depositors, as the real estate included in the assets is beavily mortgaged, and the stock of the Safe Deposit Company, which constituted the balance of the assets, has been hypothecated by Duncan. P. J. White has been appointed Receiver of the bank. The examination of the certificates of stock of the Safe Deposit Company banded In by the holders, show that an overlasue of about 4,000 shares has been made, on which Duncan has realized in the neighborhood of $100,000. The belief is that most of this has been swallowed up in floating the bank, and that Duncan has taken a comparatively small amount with him in his flight. W.T. Duncan, of the Pacific Stock Exchange, and son of the absconding banker. denies that the bank has been affected by his stock operations, and attributes the failure to unsuccessful real-estate speculations. The police have not yet succeeded in finding any trace of either Duncan or Lewarne. 11 has become evident that Duman has within the past week premeditated flight. and insule due preparation for it. Cappers have been employed by him to Induce the deposit of funds. In which they have been successful to a considerable extent. Every effort has also been made to hinder the withdrawal of deposits. The bank seems to have been strictly a family concern. Thomas Gray, father of Duncan, was the figurehead Prestdent, knowing nothing of the affairs of the bank. Lenwarne, the Secretary, is Duncan's son-in-law. J. R. Smedberg, the Trustee, bears a similar relation. The whole aflair evinces the most reckless misinapagement and flagiant dishonesty In the conduct of the bank.

15. October 11, 1877 Evening Star Washington, DC
Article from Evening Star, October 11, 1877

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THE 'FRISCO DEFAULTERS. Rich Find in the Pioneer Bank Vault SANFRANCISCO, Oct. 10 -The vault of the Pioneer Bank was opened to-day by P. J. White, the receiver. In it were found $966 in silver, a $10-gold note, $1,300 in checks, believed to be of no value, a lot of old empty envelopes that had apparently contained securities, and some few miscellaneous bonds of doubtful value. The examination of the accountsof thedepositors will not be finished before to-morrow night. The committee examining the stock of the safe deposit com pany find 4,149 bogus shares in all. From what is known of the condition of the real estate included in the assets of the Pioneer Bank and the stock of the Safe Deposit company in the same schedule, it seems doubtful whether the depositors of the bank can re alize five per cent. No tidings have been obtained yet of either Duncan or Lewarne. SAN FRANCISCO, Oct. 11.-An examination of the affairs of the Pioneer Bank shows that the date drafts on E. D. Brown & Co., the New York agency of the bank, aggregated about $33,000. These will of course come back dishonored and make further demand against the assets of the concern.

16. October 13, 1877 Arizona Citizen Tucson, Florence, AZ
Article from Arizona Citizen, October 13, 1877

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TELEGRAPHIC NEWS Special Dispatches to THE CITIZEN, by United States Telegraph Line. PHENIX, October 12. - -The case of Dean for the killing of Wilson has been continued to the April term. SAN DIEGO, October 11.-Ohio has gone Democratic by 10,000 to 20,000. Legislature: Democratic majority on joint ballot about 30. Iowa has gone Republican by 20,000 to 25,000. Legislature: Republican majority on joint ballot about 60. The returns from both States are incomplete, but full returns will not af fect the general results. SAN DIEGO, October 12, 9 p. m.Ohio returns still incomplete. No change in the grand result. Iowa returns incomplete. The majority is greatly reduced by the greenback and temperance tickets. Chief Joseph and Nez Percés camp surrendered to Gen. Miles after being under fire three days. Our loss is only four. Harry Meigs died at Lima, Peru, on September 29, of softening of brain. His estate is probably insolvent. Gen. Crook has gone to Red Cloud and Spotted Tail agencies to superintend the removal of Sioux and Arapa hoes to new reserves on the upper Mis. souri. The Cuba insurrection has ended, the officers surrendering. Spain has paid the American Minister $570,000 for loss by American citizens in Cuba by the revolution. SAN FRANCISCO, October 12.-Currency 9734@981/8. Mullman & Co., importers of clothes, etc., have failed. Cross & Co., general importers and commission merchants suspended temporarily owing to death of senior partner at Valparaiso. Will resume Monday. Pioneer Land and Loan Bank, also Findly Bank .hut. Both great swindles.

17. October 17, 1877 The Lamoille News Hyde Park, VT
Article from The Lamoille News, October 17, 1877

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Henry W. Mann, cashier of the Stockyards $30,000 Company of Kansas City, Mo., shot his little daughter, aged three years, through Senator the heart, and then killed himself Patterson, of South Carolina, was arrested in Washington on a requisition of Gov. Wade Twenty acres of lumber were destroyed Hampton by fire in Hunter's Point, near New York city, causing a loss of over $200,000 William M. Tweed, in his examination before a committee of New York aldermen, testified concerning his relations with & number of politicians and newspapers that had denied his statement that they were at one time engaged in disreputable transactions with him. In support of his charge Tweed produced a number It is claimed of letters and official records. that the outrages on the Mexican border, which were attributed to Mexicans, were committed by American outlaws. Thomas McKay, while awaiting trial for burglary in the jail at Pittsfield, Mass., committed suicide by hanging himself with a rope The made from strips of his pantaloons Asiatic cholera is decreasing in China, but preThe Pavilion Hotel at vails in Japan Glen Cove, N. Y., was destroyed by "fire, and a loss sustained of about $20,000, which is fully covered by insurance ; Sterrett's livery stable at Erie, Pa., was burned together with thirteen horses ; a fire near Mechanicsburg, Pa., destroyed the barn of William Watts, with all its contents, including some live stock, causing a loss of $12,000 which is covered by insurance, and at West Troy, N. Y., the street car works of J. M. Jones & Co. were damaged by flames in the sum of $30,000, on which there is Colonel Henry R. Sibley, $12,000 insurance a respected resident of Boston, was found to have forged notes to the amount of about General Miles $6,000 and was arrested has whipped the Nez Perces Indians under Chief Joseph, inflicting severe punishment The Pioneer Land and Loan upon them Bank, of San Francisco, suspended payments. The assets are stated to be $1,254,000 and the liabilities $1,213,000 Two barges on the St. Lawrence, on their way to Quebec, were run into by a steamboat andsunk, and their cargoes of flour and corn, valued at over $100,000, will The Turks were victorious probably be lost in & battle before Kars in Asia Minor, the Russian losses amounting to about 15,000, while the Turkish loss is placed at 2,500.

18. October 20, 1877 The Donaldsonville Chief Donaldsonville, Gonzales, LA
Article from The Donaldsonville Chief, October 20, 1877

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oldest mail contractors in the United States, died in Harrisonburg, Va. Hon. Edward S. Pierrepont, minister to England, has tendered his resignation, to take effect December 1. Gilman, the forger of New York insurance scrip, pleaded guilty. and was sentenced to five years imprisonment. Capt. Elijah Wells, for thirty years editor of the Times at Port Tobacco, Md., died at that place, aged 60 years. The eighth anniversary of the declaration of Cuban independence was celebrated in New York last Sunday. Christian Schmidt, formerly secretary of a New York sugar refining company, who embezzled $14,000, has been arrested. With good management the assets of the suspended Pioneer Bank of San Francisco will net depositors eleven per cent. Edwin Adams, the eminent actor, is slowly?dying. Performances for his benefit have been given in several leading The El Paso mobs have dispersed, agreeing to let the law take its course. The arrival of troops brought the rioters their senses. Samuel W. Canfield, president of the Rockland, N. Y., Savings Bank, has been arrested, for compileity in embezzling money of the bank. Archbishop Gibbons of Richmond succeeds Archbishop Bailey as Archbishop:of Baltimore and Primate of the Catholic Church in America. At Toledo, Ohio, ex-Postmaster Dowling was kicked, seized by the beard and struek twice in the face by Acting Postmaster Alexander Rende. Elizabeth Davis, colored, was terribly burned while rescuing her sick child from a burning bed, ignited by an exploded coal oil lamp, at New Orleans. Witowski, indicted for passing fraudulent claim for logs, for Fort Negley, at Nashyille, was acquitted. This ends the prosecution against Gen. Negley. The house of a colored man in Haywood county, Tenn., was destroyed by fire, and his three children, locked up in the house, were burned to death. Salvadore Scadore, an Italian, was struck over the head with a billet of wood and fatally hurt by John Bell, a colored man, at New Orleans. The murderer escaped. Columbus Delano, Ex-Secretary of the Interior, was caned at Washington by Judge Wright, former Indian agent. Delatio had prosecuted Wright for alleged frauds. J. M. Brinkley, Assistant Attorney General under President Johnsoli, has disappeared mysteriously from his home in Milwaakee. He is believed to be insane. Russell, Lewis & Co., of Portland, largely engaged in the South American trade, and proprietors of the White Line of barges to Buenos Ayres, suspended, with heavy liabilities. The American schooner Idaho, reported to have contraband goods for the Cubans, has been placed under surveillance by the Spauish authorities while discharging her eargo at Ceinfuegos. Thirty-six young ladies from Bali timore, Philadelphia, New York, Roe chester, Newark, New Orleaus, Chicago, and a number of other places, t assumed the habit of school sisters of e Notre Dame, at Baltimore.

19. October 20, 1877 Arizona Citizen Tucson, Florence, AZ
Article from Arizona Citizen, October 20, 1877

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Late News. The failure of the Pioneer Loan Association in San Francisco, is nothing less than a premeditated robbery by J. C. Duncan of about 6,000 depositors, most of whom are poor, out of a million dollars. The failure of the Fidelity Savings Bank--a new concern--amounts to very little to any body. The Market Street Savings Bank has suspended, but asserts ability to pay depositors. Cross & Co.'s failure surprises everybody. It has stood number one in San Francisco since 1848. The members of the firm are regarded as honest men and may resume business. Ullman & Co., of San Francisco, importers and dealers in ladies' cloaks, cloths, trimmings, have failed. Losses and dull times, assigned as the reason. Liabili ties about $300,000. The Franklin Sav. ings Bank, of Pittsburgh, Pa., has fail. ed. An assistant treasurer of the Grand Trunk railway, Canada, has absconded with a large sum. A London Solicitor has just failed. Liabilities $700,000 over assets. An era of fraud or exposure of it seems prevalent throughout the world. The telegraph and newspapers have got up quite a war feeling bet N een the United States and Mexico, and say the Mexican people do not approve of the peace policy of Diaz, especially in the matter of surrendering fugitives from justice under the extradition treaty. The press is generally discussing the late Ohio election. Hardly any two agree as to what caused the great change or exactly what effect the change will have on the future of parties and public measures. It is believ. ed that silver will surely be remonetized by the next Congress. Chas. Sweeney, absconding Secretary of the Collateral Loan and Savings Bank in San Francisco, is supposed to have come to Arizona with about $7, 000, principally belonging to D. T. Meagher. Secretary of State Evarts made an argument for the defendant, in the Supreme Court October 10, in the case of Edwin A. C. Hatch VS. Thomas B. Coddington. The War Department has just published a section of law which forbids the purchase of coal or wood by any officer until the same shall haye been inspected by an inspector duly appointed by the head of the Department. Congress convened in extra session on 15th; elected Samuel J. Randall, of Pennsylvania, and Speaker of last Congress, Speaker of the House. The Pres. ident's message was short and confined to appropriations for Army, and for deSciencies for the Navy and Department of Justice, and favors provision for the Paris Exposition. Bills relating to other subjects have been introduced

20. October 30, 1877 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 30, 1877

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CALIFORNIA ITEMS. On Wednesday a large California lion emerged from his lair in the wilderness adjacent to the ranch of William Mulleu, near San Felipe, and made a successful predatory raid upon Mullen's stock. The carniverous mammal succeeded in killing no less than twelve hogs out of a herd of fourteen-tearing open the jugular veins and large arteries of the threat, drinking the life blood and leaving the carcasses for the benefit of less dainty beasts or birds of prey. Mr. Mullen loaded a double-barreled shotgun with large size buckshot, and in a short time traced the surfeited animal to a hiding place, and rudely disturbed its siesta by riddling its head with buckshot. A Santa Cruz dispatch of yesterday says: Last night, just this side of Aptos, a freight train of ten cars of the Santa Cruz and Watsonville Railroad run over and killed an Indian. The cars were going around a curve in the road, and the engineer came nearly up to what he supposed was a bunch of rags lying on the track; but, nevertheless, he whistled down brakes, and before the train could be brought to a standstill three wheels of the engino passed over the man just below the shoulders. The Indian had been drunk during the day, and it is thought he wandered to the track and laid down and went to sleep. Receiver P. J. White, of the Pioneer Bank, San Francisco, is of the opinion that the bank will not pay five cents on the dollar of its indebtedness. The only assets of any amount is a margin in 360 lots in the Haley & O'Neil Tract, South San Francisco, mortgaged for $13,000, on which Duncan contracted to pay one and a half per cent. per month interest. The monthly rental of the entire mortgaged property will fall about $600 below the monthly accruing interest. The liabilities of the institution are not definitely known. Yesterday's San Francisco Alta says: John Wiseman was arrested yesterday, by Officer Michaels, on a charge of "conspiracy." The case develops a grave danger to poker players. It appears that the accused won $25 from Mr. Jordan, in a Duponf street saloon, and liberally divided the money between himself and two friends. Jordan rejected this theory of the distribution of wealth, and disposed of it under the head of conspiracy. Walshe, the Pescadero preacher who disgraced his cloth, was, it seems, educated for the Roman priesthood in Ireland, but was denied admission thereto, doubtless for good cause. He came to this country, and, with too much ease, became a minister. Was there ever one of these brands plucked from the burning" after this fashion that didn't turn out to be a scalawag? Last Tuesday afternoon, Frederick Walker, while out hunting in the hills near the Mount Hamilton road, about fifteen miles from San Jose, had his horse stumble with him and fall, causing his gun to be discharged, the load passing through the right side of his body near the waist. The wound is dangerous, but not necessarily fatal. The municipal reports of San Francisco show the funded debt of the city to be $4,322,500, and the sinking fund on hand June 30th, $735,386 46, leaving the debt $3,587,113 54. There is $250,000 raised annually for the sinking fund. Last season the Central Pacific Railroad Company set out 300,000 gum trees on the lines of their roads. This Winter they intend to set out 700,000 more. Geo. Baxter of Haywards has contracted to supply 300,000 to the company. A man in Grass Valley has struck a gold-bearing quartz ledge in digging a cellar under his house. The ledge is a foot thick, carries metal all through and shows well in free gold. There were 102 deaths in San Francisco last week, of which 67 were males and 35 females.

21. February 26, 1878 Evening Star Washington, DC
Article from Evening Star, February 26, 1878

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Trance. A trud was heard, and the woman was found on the sidewalk horribly mangled. Her suicide was a very determined one, as she had to crawl out of the nursery window and upon a ledge above the windows of the fifth story, an appalling height from the street, and such to some throw clear herself railings forward below. with Falling impetus as she as did, into the paved street. she was of course killed instantly. The police, having to the fication, brought sidewalk received a common notistretcher, upon which she was placed. The body was carelessly covered over, and with the feet dangling was carried up Broadway three blocks and down 13th street to the station-house by four policemen, followed by a crowd of bootblacks and newsboys.-(N.) Y. World, th. A FUGITIVE BANK PRESIDENT'S PLAUSIBLE Excuses.-Joseph C. Duncan, the San Francisco bank officer whose mysterious disappearance and reappearance have been an. nounced. denies having been guilty of crime, says are as and his hands clean regards any misappropriation of funds. He accounts for the failure of the Pioneer Bank by the decline in business since the suspension of the Bank of California, and the usurious rates of interest he was compelled to pay on loans in order to keep the bank afloat. He saddles the charge of raising the figures on certificates of safe deposit stock upon Lawrence, his son-inlaw. He believes he can yet save the deposit. ors much from the ruins of the bank. INVESTIGATING THE COAL COMBINATION.The New York assembly committee on railroads, investigating the coal combination, met in New York yesterday and examined Presj. dent Dickson, of the Delaware and Hudson coal company. He testified that the first meeting of the combination was in March, 1877. Trade had been demoralized by excessive production, and it was proposed to limit the production to the demand. In May another meeting was held to advance prices fifty cents a ton, as prices then did not pay expenses. The meeting in December last was to regulate and make the trade uniform and central: hence the board of control. The organization has had but little effect. The result of the organization would be to advance the price and regulate trade. In reply to a question whether the combination could not advance the price $1 as readily as fifty cents he replied in the negative, and said there were other interests to subserve besides raising the price of coal. The blotting out of iron manufactures is the chief cause of the reduction of consumption, and the reduction is nearly fifty per cent. By the present arrangement the combination has proved satis. factory to consumers as well as producers. It would not be to the interest of the combination to advance the price unless the demand should require it. Coal had been sold in New York as low as $2.25 per ton, and as high as $13 and $14 per ton. He thought $2.75 would now cover all expenses of putting coal into the hands of consumers in New York. THE EXODUS OF FREEDMEN.-The Rev. Dr. Henry M. Turner, who has been traveling through the southern states, says that the Liberian colonization scheme has taken a firm hold upon some of the betterelass of freedmen. Several hundred colored persons are now awaiting the arrival at Charleston of the bark Azor (purchased with money raised entirely by freedmen), which is to take them to Libe ria. The South Carolina Conference of the A. M. Church has appointed a minister to go with the expedition as the representative of the church.