9936. Aetna Banking & Trust Company (Butte, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
August 1, 1906*
Location
Butte, Montana (46.004, -112.535)

Metadata

Model
gpt-5-mini
Short Digest
e191912e798c4f19

Response Measures

None

Description

Articles (1911) describe litigation by Robert Lyons as receiver of the defunct Aetna Banking & Trust Co.; they state business was suspended in August 1906 and the bank was insolvent due to alleged fraudulent practices. No contemporaneous run is described. Classification: suspension leading to permanent closure/receivership.

Events (2)
1. August 1, 1906* Receivership
Newspaper Excerpt
Robert Lyon, receiver of the defunct Aetna Banking & Trust company ... after that official took charge of the affairs of the bank several years ago. ...the receiver of the defunct Aetna bank, seeks to recover $250,000 ... (1911 filings).
Source
newspapers
2. August 1, 1906* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Business suspended in Aug 1906; liabilities exceeded assets and insolvency attributed to alleged fraudulent practices by officers.
Newspaper Excerpt
the bank was insolvent through alleged fraudulent practices at the time business was suspended in August, 1906.
Source
newspapers

Newspaper Articles (11)
1. August 16, 1911 The Daily Missoulian Missoula, MT
Article from The Daily Missoulian, August 16, 1911

Click image to open full size in new tab

Article Text

AUGUSTUS HEINZE SUED BY BANK RECEIVER PECULIAR FINANCIAL TRANSACTIONS ARE MENTIONED IN THE COMPLAINT. Butte, Aug. 15.-(Special.)-A suit was commenced in the district court here today by Robert Lyon, receiver of the defunct Aetna Banking & Trust company, against F. A. Heinze to recover about a quarter of a million dollars alleged to have been secured from the depositors of that institution by criminal conspiracy. It is alleged that this amount was lost to the depositors over and above the $100,000 which Heinze paid to the comptroller of the currency after that official took charge of the affairs of the bank severals years ago. It is alleged that the bank commenced business. on a note for $97,250, given by A. B. Clements, a partner " of Heinze, and $2,500 in cash, and that the latter later was withdrawn and substituted for a note for a similar amount. The complaint sets forth a number of peculiar transactions in the banking line, The papers were served on Mr. Heinze, shortly after his arrival from the east.

2. August 17, 1911 Bismarck Daily Tribune Bismarck, ND
Article from Bismarck Daily Tribune, August 17, 1911

Click image to open full size in new tab

Article Text

HEINZE SUED FOR $250,000 AT BUTTE PARTICIPATION IN A CRIMINAL CONSPIRACY CHARGED AGAINST HIM BUTTE, Mont., Aug. 17-F. Augustus Heinze, former copper king, arin Butte yesterday afternoon his first visit to this city in about a year, and papers were filed in the district court in a sensational suit against him, in which allegations of fraud are made in connection with the conduct of the affairs of- the defunct Aetna bank. The plaintiff in the suit against Heinze, is Robert Lyons as receiver of the Aetna Banking and Trust Co. In the suit it is sought to recover about $250,000 alleged to have been secured through a criminal conspiracy to the loss of the depositors of the defunct banking institution. It is alleged that about that amount was lost to the depositors over and above $100,000 that Heinze paid over to the comptroller of currency of the United States after that official took charge of the affairs of the Aetna bank, and put it in charge of a receiver. The amount thus secured, is alleged to have paid only one-fourth of tne obligations of the bank to the depositors. It is stated in the complaint, in which it is asked that Heinze be imprisoned, that in 1901 Heinze and A. B. Clements organized the bank under the laws of West Virginia and the institution began to transact business after the filing of a certificate to the effect that the capital of the bank to the amount of $200,000 had been put up in cash. It is now charged that the capital consisted of a note for $97,250, given by A. B. Clements which was deposited as cash and $2,500 in actual cash. in a few days, or as soon as sufficient deposits were secured, it is alleged the $2.500 was withdrawn and A. B. Clements gave the bank a note for the amount so that the total paid up capital consisted of the two notes aggregating $1,00,000. About a year later, it is alleged, some of the shares of stock in the bank were put in the name of Julia H. Clements, wife of A. B. Clements, and some in the name of F. Augustus Heinze. For the stock, it is alleged, a note was secured from Mrs. Clemfor $7,800 and three notes from Heinze ents aggregating $46_000. secured control Then Heinze, it is stated, of a local building and loan association known as the Aetna Savings and Trust Company and with stock of that concern to the amount of 402 shares and the three notes above re ferred to secured a controlling interest in the stock of the AetnaBank & Trust Company. By this means it is alleged that within eighteen months $200,000 of the assets of the bank were secured $100,000 being in cash belonging to to noon Heinze the depositors. had dodged Up the process today serv. ens who had been scouring the city for him.

3. August 18, 1911 The Daily Missoulian Missoula, MT
Article from The Daily Missoulian, August 18, 1911

Click image to open full size in new tab

Article Text

HEINZE SERVED. Butte, Aug. 17.-(Special.)-After dodging process servers, who since Tuesday sought to serve F. Augustus Heinze with the complaint in the action begun by Receiver Robert Lyons of the defunct Aetna bank, the former copper king was located this morning by Deputy Sheriff Fred Hugo, just as he was emerging from an office in the Silver Bow block. Heinze smiled when cornered. The papers charge him with criminal conspiracy and seek to recover a quarter of a million dollars in connection with the bank's failure.

4. August 19, 1911 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, August 19, 1911

Click image to open full size in new tab

Article Text

CONDENSED DISPATCHES. After having dodged process-servers since his arrival in Butte, Mont., F. Augustus Heinze, former copper king, Thursday night walked straight into the arms of one in a hotel. Papers were filed in the district court Thursday in a sensational suit against Heinze, in which Robert Lyons, as receiver of the . Aetna Banking and Trust Co., seeks to recover $250,000, alleged to have been secured through a criminal conspiracy, and to the loss the stockholders of the defunet banking institution.

5. August 23, 1911 Grant County Herald Lancaster, WI
Article from Grant County Herald, August 23, 1911

Click image to open full size in new tab

Article Text

New York state and the middle west have a bumper apple crop this year for export shipments, according to the bulletin of the Boston chamber 01 commerce. The far west, Virginia and New England have fallen off some what, but New York and the middle west bring this year's average up to half as large again as last year. * * * Seven thousand people, represent ing 44 states, have registered for free homesteads in the Berthold Indiar reservation in North Dakota. Of this number 4,412 registered at Minot, the government headquarters. * * * Papers were filed in the district court at Butte in a sensational suit against F. Augustus Heinze, in which Robert Lyons, as receiver of the Aetna Banking and Trust company seeks to recover $250,000 alleged tc have been obtained illegally by Heinze. *** Andrew O'Hearn and Frank Ellis of Chicago, employed at the Rochelle tanning factory, went to sleep on the Chicago & Northwestern railroad tracks at Rochelle, Ill., and were killed by a fast train. *** From behind the bars in Sing Sing Capt. Peter C. Hains, Jr., army offi cer and inventor, has begun his battle for freedom against his wife, for love of whom he shot and killed his former friend, William E. Annis, at the Bay side Yacht club three years ago. The victim of the tragedy is named in the action started at Brooklyn. * Newman Erb and Edwin Hawley have planned to extend the Minneapolis and St. Louis railroad to the Ca. nadian border, so as to connect with the Canadian Northern and Grand Trunk Pacific. Plans are also under way to extend the Iowa Central direct from Centerville to St. Louis. ... Mrs. Amanda Irwin, a widow, was admitted to Bellevue hospital, New York, suffering, the physicians said from hydrophobia, the symptoms of which have been unnoticed for five years. @ At a banquet given by Col. Robert M. Thompson to Admiral Togo at New York S. Takaki, secretary to the admiral, suddenly rose from his chair with an expression of pain. In trying to leave the table he fell, striking his head. and was picked up unconscious by aids to Gen. Frederick D. Grant, U. S. A.

6. August 24, 1911 Audubon Republican Audubon, IA
Article from Audubon Republican, August 24, 1911

Click image to open full size in new tab

Article Text

New York state and the middle west have a bumper apple crop this year for export shipments, according to the bulletin of the Boston chamber of commerce. The far west, Virginia and New England have fallen off somewhat, but New York and the middle west bring this year's average up to half as large again as last year. ... Seven thousand people, representing 44 states, have registered for free homesteads in the Berthold Indian reservation in North Dakota. Of this number 4,412 registered at Minot, the government headquarters. ... Papers were filed in the district court at Butte in a sensational suit against F. Augustus Heinze, in which Robert Lyons, as receiver of the Aetna Banking and Trust company, seeks to recover $250,000 alleged to have been obtained illegally by Heinze. ... Andrew O'Hearn and Frank Ellis of Chicago, employed at the Rochelle tanning factory, went to sleep on the Chicago & Northwestern railroad tracks at Rochelle, III., and were killed by a fast train. ... From behind the bars in Sing Sing Capt. Peter C. Hains, Jr., army officer and inventor, has begun his battle for freedom against his wife, for love of whom he shot and killed his former friend, William E. Annis, at the Bayside Yacht club three years ago. The victim of the tragedy is named in the action started at Brooklyn. ... Newman Erb and Edwin Hawley have planned to extend the Minneapolis and St. Louis railroad to the Canadian border, so as to connect with the Canadian Northern and Grand Trunk Pacific. Plans are also under way to extend the Iowa Central direct from Centerville to St. Louis. ... Mrs. Amanda Irwin, a widow, was admitted to Bellevue hospital, New York, suffering, the physicians said, from hydrophobia, the symptoms of which have been unnoticed for five years. ... At a banquet given by Col. Robert M. Thompson to Admiral Togo at New York S. Takaki, secretary to the admiral, suddenly rose from his chair with an expression of pain. In trying to leave the table he fell, striking his head. and was picked up unconscious by aids to Gen. Frederick D. Grant, U. S. A.

7. August 24, 1911 The Yale Expositor Yale, MI
Article from The Yale Expositor, August 24, 1911

Click image to open full size in new tab

Article Text

A pistol fight to the death occurred near Goat Rock, Ga. The combatants were Sam Gordon, a white man, and George Caldwell, a negro. The two bodies were found near each other about dusk. Edward Cannessa, a well-to-do Italian, is dead at his Brooklyn home as a result of his efforts to act as peacemaker between two of his friends who fired revolvers on each other in a quarrel over the hand of his daughter. Lewis W. Hoyell, manager of the Toledo Metal Wheel company of Toledo, O., arrived in New York to attend a convention. He had scarcely set foot on the soil of the metropolis when he was robbed of his pocketbok. A solitaire diamond ring, valued at $300 was taken from him a few minutes later. Daughters of the American Revolution gave a reception and dinner on the steamship George Washington in New York in honor of Congressman Richard Bartholdt of Missouri, who sailed in charge of a statue of Baron Von Steuben, which congress will present to the German government. After three years' exile among strangers in Caracas, Venezuela, two Syrian children, Susan and Lucien Lulu, are detained at Ellis Island, New York, prevented by the immigration officials from carrying out their plan to join their parents at Smithton, Pa. Their eyes show symptoms of trachoma. New York state and the middle west have a bumper apple crop this year for export shipments, according to the bulletin of the Boston chamber of commerce. The far west, Virginia and New England have fallen off somewhat, but New York and the middle west bring this year's average up to half as large again as last year. Seven thousand people, representing 44 states, have registered for free homesteads in the Berthold Indian reservation in North Dakota. Of this number 4,412 registered at Minot, the government headquarters. Papers were filed in the district court at Butte in a sensational suit against F. Augustus Heinze, in which Robert Lyons, as receiver of the Aetna Banking and Trust company, seeks to recover $250,000 alleged to have been obtained illegally by Heinze. Andrew O'Hearn and Frank Ellis of Chicago, employed at the Rochelle tanning factory, went to sleep on the Chicago & Northwestern railroad tracks at Rochelle, Ill., and were killed by a fast train.

8. August 25, 1911 The Ely Miner Ely, MN
Article from The Ely Miner, August 25, 1911

Click image to open full size in new tab

Article Text

A pistol fight to the death occurred near Goat Rock, Ga. The combatants were Sam Gordon, a white man, and George Caldwell, a negro. The two bodies were found near each other about dusk. * Edward Cannessa, a well-to-do Italian, is dead at his Brooklyn home as a result of his efforts to act as peacemaker between two of his friends who fired revolvers on each other in a quarrel over the hand of his daughter. Lewis W. Hoyell, manager of the Toledo Metal Wheel company of Toledo, O., arrived in New York to attend a convention. He had scarcely set foot on the soil of the metropolis when he was robbed of his pocketbok. A solitaire diamond ring, valued at $300 was taken from him a few minutes later. Daughters of the American Revolution gave a reception and dinner on the steamship George Washington in New York in honor of Congressman Richard Bartholdt of Missouri, who sailed in charge of a statue of Baron Von Steuben, which congress will present to the German government. After three years' exile among strangers in Caracas, Venezuela, two Syrian children, Susan and Lucien Lulu, are detained at Ellis Island, New York, prevented by the immigration officials from carrying out their plan to join their parents at Smithton, Pa. Their eyes show symptoms of trachoma. New York state and the middle west have a bumper apple crop this year for export shipments, according to the bulletin of the Boston chamber of commerce. The far west, Virginia and New England have fallen off somewhat, but New York and the middle west bring this year's average up to half as large again as last year. Seven thousand people, representing 44 states, have registered for free homesteads in the Berthold Indian reservation in North Dakota. Of this number 4,412 registered at Minot, the government headquarters. * * Papers were filed in the district court at Butte in a sensational suit against F. Augustus Heinze, in which Robert Lyons, as receiver of the Aetna Banking and Trust company, seeks to recover $250,000 alleged to have been obtained illegally by Heinze. Andrew O'Hearn and Frank Ellis of Chicago, employed at the Rochelle tanning factory, went to sleep on the Chicago & Northwestern railroad tracks at Rochelle, III., and were killed by a fast train.

9. September 5, 1911 The Calumet News Calumet, MI
Article from The Calumet News, September 5, 1911

Click image to open full size in new tab

Article Text

# Brokers' Gossip Davis Daly: The Colorado mine of the Davis Daly company, has put on an increased force of men and is making shipments of ore to the Washoe smelter. Mr. Heinze has up to the present time refused to give out any statement as to the quality of the ore, merely contenting himself with saying that it is coming from the 1,400 and 1,700-foot levels and if of a good shipping grade. He says that the Colorado from this on will certainly be a permanent producer as there is lots of ore blocked out and much more in sight. In connection with Heinze's arrival in Butte several old cases in which he had interest are again before the public. A few days after reaching the city he was served with papers in an action brought by the receiver of the defunct Aetna Banking & Trust Co., of which he was at one time president asking for a judgment in the vicinity of $300,000. After the bank failed, Heinze, in consequence of the public demand that he make good the losses to the depositors, sent his check to the receiver of $100,000, which it is stated was accepted with the understanding that it would apply to any liability Heinze should be found to have. Less than 8 per cent was realized on the assets and this the receiver is willing to have applied on Heinze's indebtedness. In the complaint, which is a very lengthy one, is recited all the transactions of Heinze with the bank at various times and it is asked that all these be declared fraudulent. The case will undoubtedly prove an interesting one as it will depend to a great extent on the system of bookkeeping in vogue in the bank. The day following the service of the papers in the above case another action was brought against the copper man. During the height of his political career here he became bondsman for the public administrator who was elected on his ticket. This public administrator got hold of several estates and it is alleged that he appropriated to his own use the sum of $528,900 belonging to orphans.

10. December 28, 1911 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, December 28, 1911

Click image to open full size in new tab

Article Text

SUIT AGAINST HEINZE IN MONTANA COURTS BUTTE Mont., Dec. 27.-In the district court today an amended complaint was filed in the suit of Robert Lyons, as receiver of the Aetna Banking & Trust company. against F. Augustus Heinze. It is alleged in the complaint that the defendant Heinze, as one of the founders and chief officers of the defunct banking institution, secured possession of the bulk of the assets, and It is alleged the bank was insolvent through alleged fraudulent practices at the time business was suspended in August, 1906. The lla bilities are stated at that time to have been in excess of $400,000 and the assets. exclusive of the double liability of the stockholders, did not exceed 8 per cent of the liabilities. It is stated that the $100,000 voluntarily paid to the bank by defendant Heinze was applied to the Indebtedness and that about $300,000 yet remains, for which a judgment is asked. The court is asked further to order that unless payment is made of the debts, losses and damages, defendant Heinze Is to be imprisoned until payment is made in accordance with the order of the court.

11. December 29, 1911 The Tacoma Times Tacoma, WA
Article from The Tacoma Times, December 29, 1911

Click image to open full size in new tab

Article Text

Receiver Hit F. Aug. Heinze (By United Press Leased Wire.) BUTTE, Mont., Dec. 29.Charges that F. Augustus Heinze, of the defunct Aetna Banking & Trust Co., secured possesion of the bulk of the assets through fraudulent practices, were filed yesterday by Robert Lyons, receiver.