Article Text
Heinze Bank Closes, Butte, Oct. 17.-The State Savings bank of Butte, in which F. A. Heinze is largely interested, closed its dors today. A run was precipitated because of stories of Heinze's big copper fight in Wall street.
9943. State Savings Bank (Butte, MT)
Bank Information
- Episode Type
- Run → Suspension → Reopening
- Bank Type
- savings bank
- Start Date
- October 17, 1907
- Location
- Butte, Montana (46.004, -112.535)
Metadata
- Model
- gpt-5-mini
- Short Digest
3f61352c13400b3b
Response Measures
None
Description
A run on State Savings Bank (Butte, MT) began 17 Oct 1907 after news of failures/suspension of Heinze-related firms and a German bank; the bank suspended (invoked 30-day privilege) same day. Court actions and loans followed; receiver petitioned but postponed after Heinze and others posted security/loans. The bank resumed business Feb 15, 1908 with F. A. Heinze removed from board. OCR errors corrected (e.g., Heinze spelled variously).
Events (6)
1.
October 17, 1907
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Run triggered by news of suspension/failure of Otto Heinze & Co. (New York) and a large German bank, and Heinze's close identification with the Butte bank.
- Measures
- Bank closed its doors shortly after opening and posted a bulletin invoking suspension/30-day privilege; cited shortage of currency and rumors; state examiner later took charge.
- Newspaper Excerpt
- A run was precipitated because of stories of Heinze's big copper fight in Wall street.
- Source
- newspapers
2.
October 17, 1907
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Management suspended payments after heavy withdrawals precipitated by Heinze-related brokerage suspensions and foreign bank failure; cited rumors and inability to secure immediate currency to meet demands.
- Newspaper Excerpt
- the State Savings bank today closed its doors... the management has deemed it advisable in the interest of all depositors to suspend for the time being. The bank is solvent.
- Source
- newspapers
3.
October 26, 1907
Other
- Newspaper Excerpt
- Ask Receiver for Heinze Bank. Application for the appointment of a receiver for the State Savings bank ... was brought up ... and continued until after the hearing ... on November ... .
- Source
- newspapers
4.
December 28, 1907
Other
- Newspaper Excerpt
- Heinze must give $250,000 to Butte bank ... hearing for appointment of a receiver ... postponed ... on condition that Heinze deposit $250,000 and M. S. Largey deposit $750,000.
- Source
- newspapers
5.
January 24, 1908
Other
- Newspaper Excerpt
- Judge Approves Loan. District Judge ... has approved a loan of $200,000 by Edward Creighton Larget to the State Savings Bank to enable the institution to resume business.
- Source
- newspapers
6.
February 15, 1908
Reopening
- Newspaper Excerpt
- The State Savings Bank of Butte, which closed its doors last October, today resumed business. The petition for a receiver pending in the district court was dismissed. F. A. Heinze has retired from the board of directors. There was no run when it opened today, and many new depositors took up accounts.
- Source
- newspapers
Newspaper Articles (25)
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BUTTE SAVINGS BANK CLOSES ITS DOORS TODAY. Helena, Mont., Oct. 17.-A special to the Record from Butte says that after having been open only a few minutes the State Savings bank today closed its doors. A run had been precipitated because of stortes received over private wires that the firm of Otto Heinze & Company of New York and a large German bank in Berlin had failed. These interests are closely identified with F. Augustus Heinze in his copper mining operations. Heinze is the largest stockholder and a director in the State Savings bank, which has deposits of about $4,250,000. The following bulletin was posted: "Because of unsolid conditions and rumors that cannot be verified that may cause unusual and excessive demands by depositors and owing to the shortage. of currency and inability to secure additional currency immediately to pay demands which may be made, the management has deemed it advisable in the interest of all depositors to suspend for the time being. The bank is solvent." A large crowd is gathered in front of the bank, but, considering the circumstances and conditions, is quite undemonstrative, although there are occasional cries demanding revenge on Heinze and his institutions. The state of Montana is a depositor to the extent of $75,000, but is amply secured. Further than the notice. the bank officials will make no statement. None of the other banks is affected. Nowhere will the news of the closing of the Heinze bank in Butte be received with more surprise than in Salt Lake. The feeling is general that Mr. Heinze's difficulties would only be temporary and that his great financial resources the country over, will soon be brought into a condition wher he can lend strength to the institutions with which he is connected. He is a director of the Utah National bank, of which W. S. MéCornick is president, and at that institution this morning it was stated that Mr. Heinze had a comfortable balance to his credit, so that the news of the trouble was more inexplicable than ever. Mr. Heinze lately acquired the controlling interest in the Mercantile National bank of New York, one of the great banks of the country. By some his holding is said to have amounted to one-third of the capital stock. A late statement of the Mercantile National shows the following figures:
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A BLACK HORSDAY FOR FINANCIERS BANK FAILURES FOLLOW BREAK IN COPPER STOCKS. DIVIDENDS ARE REDUCED. A Bank in Hamburg, Germany, Fails for $7,000,000 and the Heinzes are Found to be in a Bad Way. New York, Oct, 18.-Sensations followed each other in rapid succession in the financial district Thursday as the result of the collapse of the projected corner in United Copper and the suspension of a prominent brokerage firm Wednesday. The firm of Otto Heinze & Co. was suspended on the stock exchange. F. Augustus Heluze, the Butte copper magnate, resigned the presidency of the Mercantife National Bank of New York. The Amalgamated Copper Co. at its directors' meeting cut its quarterly dividend from 2 per cent. to 1 per cent. The directors of the Borton and Montana Copper Co. declared a quarteriy dividend of $6 in place of a former dividend of $12. The failure of Haller, Soehle & Co., prominent bankers of Hamburg. Germany, with liabilities that may reach $7,500,000. was announced. The State Savings Bank, of Butte, Mont., of which the Heinzes are the principal stockholders, suspended. As a result of these sensations the stock market was halting and firregular, but there was an apparent feeling that the break of the attempted corner in United Copper had cleared the stmosphere somewhat, and the market rallied before the close. The suspension of Otto Heinze & Co., of which firm Max M. Schultze is the stock exchange member, was based on a complaint to the exchange made by Gross & Kleeberg, the stock exchange firm which failed Wednesday. In a communication to the president of the stock exchange, this firm charged Otto Heinze & Co. with refusing to accept 3,202 shares of United Copper said to have been bought on the order of the Heinze firm. This action, Gross & Kleeberg state, was responsible for their failure. Attorneys for this firm stated that the amount owing to the firm by the Heinze firm aggregates $600,000. The Heinze firm announced that it is perfectly solvent and that all its legal obligations will be met. The attorneys say that the suspension by the stock exchange was accepted by the firm in order to give the latter an opportunity to sift its legal obligations from numerous claims which have been made against it and which it is alleged are not legal obligations. The failure of the Hamburg firm and the Butte bank followed closely on the news of the suspension of the Meinze firm on the stock exchange. The German firm is said to have lost heavily in the recent drop in copper stocks. Hamburg, Oct. 18.-The old private banking firm of Haller, Soehle & Co. failed Thursday. The liabilities of the firm are variously stated and it was estimated early in the day that they were in the neighborhood of $5,000, 080. but the Hamburger Nachrichten says it is informed by a banker who is in a position to know the facts that the Habilities will reach $7 000
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BUTTE BANK BUSTS. F. A. Heinze Was One of The Leading Stockholders. Butte, Mont., Oct. 18.-Because of the suspension of what are known as the Heinze brokerage firms in New York, a run was started yesterday on the State Savings bank, in which F. A. Heinze is a leading stockholder and director and that the bank availing itself of the 30 days' privilege, closed its doors. None of the other banks, it is said, are affect. ed. They experienced no runs. The deposits of the bank are $3,500,000 and of the savings department about $7.250,000, the latter largely from working people of Butte. The State has about $75,000 of its funds in the bank. It is said that Otto Heinze & Co., did not owe the bank a dollar, and that F. A. Heinze owes it less than $300,000 which is already secured. Mr. Largey, the president owes it about $7,500 and he is able to pay many times that amount. The bank holds on hand about $800,000 and its deposits amount to about $3,000,000. There are about 6,000 depositors, of whom 575 are commercial depositors. The others are Worgingmen and women. The directors announce that they will proceed with the building of a new ban. building, which is nearing completion, at a cost of $200,000.
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HEINZE INTERESTS GET SEVERE BLOW CONTINUED FROM PAGE ONE, members of the stock exchange. The attempt to squeeze other brokers by calling for the delivery of stock, the threat to buy these brokers in under the rules on their failure to deliver, the refusal to accept deliveries of stock on presentation, the treatment of brokers who had acted as the firm's agents, the failure to report the condition of the exchange, and other circumstances were declared to constitute a chain of events unprecedented in the history of the exchange. There was considerable talk of their expulsion from the exchange. The clearing house committee caused an exhaustive examination to be made into the condition of the Mercantile National Bank to-day. The examination, it was said, was made without expectation that it would show an unsound condition, but principally to place the exact condition of the Institution before the public and the depositors. Examiners worked on the books until midnight, and then reported that they found everything in good condition and the bank thoroughly sound. Run on Butte Bank, Butte, Mont., Oct. 17.-Because of the suspension of what are known as the Heinze brokerage firms in New York, a run was started to-day on the State Savings Bank, in which Heinze is the leading stockholder and a director, and that bank, availing itself of the thirty-day privilege, closed its doors. None of the other banks, it is said, are affected. They experienced no runs. The deposits of the bank are in the vicinity of $3,500,000, and of the savings department about $1,250,000, the latter largely from the working people of Butte. The State has about $75,000 of State funds in the bank. German Bank Fails. Hamburg, Oct. 17.-Haller, Soehle & Co., bankers, failed here to-day. The firm's liabilities are estimated at from 12,000,000 to 30,000,000 marks (from $3,000,000 to $7,500,000). The failure was due in part to the fall in American copper shares, but the bank also had great speculative investments in real estate companies and industrial concerns, in which it embarked heavily after the death, some years ago, of the senior partner, Dr. Soehle. The present members of the firm are Oscar Luebbers and J. C. Soehle. The announcement of the difficulties of Otto Heinze & Co., of New York, was followed within a few hours by the report of the suspension of Haller, Soehle & Co., and caused intense excitement on the Bourse, as it was feared that the widespread connections of the Hambuig firm would bring down other houses, but various banks speedily announced the amount of their losses, which were comparatively small and adequately secured, so that it is believed that no other bank will be seriously embarrassed.
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Overloaded With Realty. There has been no statement of assets or liabilities. but it is said that the liabilities will total $2,000,000, although the entire debt is covered by assets that will net $1,000,000 or more. In a statement T. W. House says: "The action taken by me was due to general stringency of the money market and the further fact that so much of my wealth consists of real estate, which. although of the highest and most productive quality, in stringent times, cannot be considered a quick asset." Butte Bank is Closed. BUTTE, MON., October 17.-The State Savings Bank closed its doors this morning, soon after opening. A runh da been precipitated, because of stories received over private wires that the firm of Otto Heinze & Co., of New York, and a large German bank in Berlin had failed. These Interests are closely identified with A. Heinse in his copper mining operations. Heinz is the largest stockholder and a director in the State Savings Bank, which has deposits of $4,250,000. A large crowd gathered in front of the bank, but. considering the circumstances and conditions, was quiet and undemonstrative, although there were occasional cries demanding revenge on Heinze and his institutions.
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that it was hoped to straighten out affairs in a short time. F. Augustus Heinze, in his statement of resignation, said he retired from the presidency of the bank in order to be free to devote ample time to the task of rehabilitating his brother's firm. W. B. Ridgely, comptroller of the currency, has been invited to become president of the Mercantile National bank, but so far has not said whether he will accept. The troubles of Otto Heinze & Co. and the failure of Gross & Kleeberg resulted directly from the general unfavorable condition of the copper market. For months it has been understood in Wall street that curtailment of copper production and reduction of price were necessary. United Copper, a Heinze property, declined sharply. Another feature of the day's copper news was the temporary suspension of the State Savings bank of Butte, Mont., a city which is dependent on the copper in. dustry. The stock market opened nervous and developed considerable weakness during the first hour. Later it became considerably firmer, but at 1:30 p. m. the tendency was again downward, with Amalgamated Copper especially weak.
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COPPER DIVIDENDS CUT BY COMPANIES Sensations Follow One Another in Rapid Succession in the Financial District. HEINZE BROTHERS' TROUBLES CULMINATE F. Augustus Quits Bank Desk and Otto's Firm Suspends -Butte Bank Stops Payments. New York, Oct. 17.-Sensations followed each other in rapid success'or in the financial district to-day as the result of the collapse of the projected corner in United Copper and the suspension of a prominent brokerage firm yesterday. of Otto Heinze & company was on the The suspended firm stock Butte exchange. F. Augustus Heinze, the copmagnate, resigned the presidency per of the Mercantile National Bank of New York; The Amalgamated Copper company at its directors meeting cut its quarterly dividend from 2 per cent to 1 per cent.; The directors of the Boston and Montana Copper company declared a quarterly dividend of $6 in place of a former dividend of $12; The failure of Haller-Soehle & company, prominent bankers of Hamburg, Germany, with liabilities that may reach $7,500,000 was announced; The State Savings Bank of Butte, the Mont., of which the Heinzes are principal stockholders, suspended. As a result of these sensations the stock market was halting and irregular, but there was an apparent feeling that the break of the attempted corner in United Copper had cleared the atmosphere somewhat, and the market rallied before the close. The suspension of Otto Heinze & Co., of which firm Max M. Schultze is the Stock exchange member, was based on a complaint to the exchange made by Gross & Kleesberg, the Stock exchange firm which failed yesterday. In a communication to the president of the this firm & Co. with refusing to Stock Heinze exchange charged accept Otto to 3,202 shares of United Copper, said have been bought on the order of the & Heinze firm. This action, Gross Kleeberg state, was responsible for their failure. Attorneys for this firm stated to-day that the amount owing to the firm by the Heinze firm aggreo gates $600,000. f The Heinze firm announced that it e d is perfectly solvent and that all its legal obligations will be met. The attorneys say that the suspension by the Stock exchange was accepted by the firm in order to give the latter an opportunity to sift its legal obligations from numerous claims which have is been made against it and which, it alleged, are not legal obligations. The resignation of F. Augustus Heinze from the presidency of the Mercantile National bank, it is said, was decided on at a midnight meeting at the home of C. W. Morse, who is largely interested in the bank. It was an- at nounced this morning; Mr. Heinze the same time giving out a statement in which he said that his resignation was due to the fact that he wished to devote all of his time to straightening out the business of his brother's firm. He stated positively that he had not disposed of his holdings in the bank, diand that he would continue as a rector. William B Ridgely, at present United States comptroller of the cur- of rency, has been tendered the office president of the Mercantile National, not but has not yet decided whether or he will accept. The low price of refined copper, which dropped even lower to-day and the disorganized condition of the metal for the market, is the reason given in the reduction of the dividend in the companies. The announcement of copper the Amalgamated quarterly dividend of one per cent. came as a surprise. While it was known that there would the be a reduction, 1 1-4 per cent was lowest dividend expected. The failure of the Butte bank folclosely on the news of the suslowed pension of the Heinze firm on the stock exchange. The Butte bank was largely controll+ by the Heinze interests. F. Augused tus Heinze being the principal Heinze stockholder and news of the Otto suspension on the stock exchange and of the failure of the Hamburg firm.precipitated a run which immediately In caused he-suspension of the bank. statement issued by the officers is a was declared that the bank is perfect- is solvent and that the suspension time solely ly for the purpose of gaining to arrange the bank's affairs. number of meetings were held toA in the office of Otto Heinze & com- sort day but no statement of any the pany, given out. It is said that prin. was claims against the firm growing in out of the attempted corner cipally United Copper may reach $2,500,000.
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EXAMINER IN CHARGE OF BUTTE BANK Depositors, Mostly Working People, Remain Optimistic Despite, Difficulties of Heinze Institution. By Morning Journal Special Leased Wire.] Helena, Mont., Oct. 18.-According to long distance telephone messages to the Associated Press from Butte, received tonight, there has been practically no developments in the State Savings bank situation there today. State Bank Examiner Collins today assumed charge of the situation, and after making a hurried inspection of the books announced that from the figures at hand, the bank is in a better condition than when it submitted its last quarterly report to him. The whole question, however, is said to depend upon the value of the collateral which the Institution holds on outstanding loans. The depositors, who principally are working men and women, were cheerful today over the outlook Examiner Collins is making a thorough investigation of the bank's books and willMater make a statement to the depositors. The Silver Bow National bank. which is also controlled by F. A Heinze, is said to be safe and will not be involved in the copper magnate's financial difficulties There was no sign of a run on this institution today. The officers of the State Savings bank tonight refused to make any statement. saying that the bank is now in the hands of the state examiner. and that any official statement given out must come from him.
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FAILURE OF BANK CAUSING LITTLE FLURRY By Associated Press. HELENA, Mont., Oct. 18.-A special from Butte says that re were no new developments in the suspension of the State Savings. bank today other than State Examiner T. E. Collins had arrived from Helena and taken charge. Mr. Collins stated that he would be unable to make a report on the institution's condition for at least a week. There is absolutely no excitement today and the public seems quite content to accept the statement of the officials that the bank is quite solvent and will shortly, resume.
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that it was hoped to straighten out affairs in a short time. F. Augustus Heinze, in his statement of resignation, said he retired from the presidency of the bank in order to be free to devote ample time to the task of rehabilitating his brother's firm. W. B. Ridgely, comptroller of the currency, has been invited to become president of the Mercantile National bank, but SO far has not said whether he will accept. The troubles of Otto Heinze & Co. and the failure of Gross & Kleeberg resulted directly from the general unfavorable condition of the copper market. For months it has been understood in Wall street that curtailment of copper production and reduction of price were necessary. United Copper, a Heinze property, declined sharply. Another feature of the day's copper news was the temporary suspension of the State Savings bank of Butte, Mont., a city which is dependent on the copper industry. The stock market opened nervous and developed considerable weakness during the first hour. Later it became considerably firmer, but at 1:30 p. m. the tendency was again downward, with Amalgamated Copper especially weak.
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COPPER FIRM JARRED. Stock Exchange Suspends Otto Heinze & Co. Sensations followed each other in rapid succession in the financial district of New York Thursday as the result of the collapse of the projected corner in United Copper and the suspension of a prominent brokerage firm Wednesday. The firm of Otto Heinze & Co. is suspended on the stock exchange. F. Augustus Heinze, the Butte copper magnate, resigned the presidency of the Mercantile National bank Thursday. The Amalgamated Copper company, at its directors' meeting, cut its qunarterly dividend from 2 per cent to 1 per cent. The directors of the Boston and Montana Copper company declared a quarterly dividend of $6 in place of a former dividend of $12. The failure of Haller, Soehle & Co., prominent bankers of Hamburg, Germany, with liabilities that may reach $7,500,000, vas announced. The State Savings bank at Butte, Mont., of which the Heinzes are the principal stockholders, suspended. As a result of these sensations the stock market was halting and irregular, but there was apparent feeling that the break of the attempted corner in United Copper had cleared the atmosphere somewhat, and the market rallied before the close Thursday.
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Stuyvesant Fish has secured a temporary injunction to prevent E. H. Harriman voting stock controlled by him in the Illinois Central Railroad company on the ground that state laws prevent one railroad company owning stock in another. Hampton G. Westcom testified at the hearing of the federal suit against the Standard Oil company that the company found it "expedient" to sell much of their product through socalled independent companies that were really owned and operated by the Standard. The Commercial Telegraphers by a referendum vote have declared their intention to continue the strike. A difference of opinion has arisen in Porto Rico between the insular authorities and officers of the United States courts over the payment of the expenses of the latter. The Wall street stock market was recently thrown into turmoil by the collapse of prices of United copper company stock. The stock dropped from $50 to $10 in one day. Two large brokerage firms suspended and F. A. Heinze was compelled to resign from the presidency of the Mercantile bank of New York. A meeting between King Edward of England and the czar of Russia is to take place at Copenhagen. The passing of sentence on the Santa Fe railroad convicted of rebating at Los Angeles, Cal., has been postponed until November 4. The executive committee of the National Telegraphers' union has suspended S. J. Small as president of the organization. The stock market of Montreal, Canada, was recently thrown into a panic by the passing of the quarterly dividend of the Detroit United Street Railway company, most of the stock of which is held in that city. The Nebraska railway commission has issued an order limiting the speed of trains on the Missouri Pacific in that state to 25 miles an hour until the roadbed has been repaired. Five persons, two men and three women, have been arrested in Joplin, Mo., suspected of blowing up the News-Herald printing plant with dy. namite. The last Indian pow-wow was recently held in Collinaville, I. T. Geronimo, the old Apache chief, was tife principal figure. J. N. Sapp has employed counsel to aid in the prosecution of S. F. Whitlow, charged with the murder of May Sapp at Moran. Kan. A dollar a bushel was recently offered for wheat at Arkansas City, Kan. By a cave-in in the ballast quarries of the Mexican Central railroad at Victoria 16 laborers were killed and 11 others fatally injured. The trial of George A. Pettibone, charged with complicity in the assassination of ex-Gov. Steunenberg, of Idaho, is set for October 28 at Boise. The failure of Haller, Sochle & Co., an old banking house of Hamburg, Germany, has been announced. The liabilities are estimated at $7,000,000. Commercial business between Glace bay, N. 8., and Clifden, Ireland, is now being accepted by the Marconi Wireless Telegraph company. The first carload of buffalo from the New York gardens have been turned loose in the government reserve in the Indian territory. Interstate Commerce Commissioner Lane is authority for the statement that the Southern Pacific railroad has continued to give rebates to shippers in deflance of the Hepburn law. The facts will be laid before the department of justice. Attorney General Hadley of Missouri has given an opinion in which he holds that the state railroad commissioners have the power to reduce the rates charged by express companies in that state. The Santa Fe Railroad company has announced a voluntary raise in salary to all telegraph operators in the emplov of the company. Fifty persons were killed and 600 injured and every building in the town of Fontinet, Ind., was wrecked recently by the explosion of the Dupont Pow. der company's works there. The shock of the explosion was felt 200 miles away and buildings two miles distant were destroyed and the occupants injured. Judgment has been entered in the St. Louis courts against John Morton, a Joplin, Mo., mining promoter, for $537,030.22. He was charged with selling a "paper" mine in the zinc district. The State Savings bank of Butte, Mont., in which F. Augustus Heinze is the principal stockholder, closed its doors on account of a run caused by the failure of Heinze brokerage firms in New York. The farmers and their wives from all parts of the country to the number of 3,000 attended the National Farm.
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Ask Receiver for Heinze Bank. Butte, Mont., Oct. 26 -Application for the appointment of a receiver for the State Savings bank. the financial house in this city of F. Augustus Heinze, by George Dodgson, was brought up this morning before Judge Bourquin and continued until after the hearing of the petition of the state in the same matter on November
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MONTANA NOTES. Isaac H. Morrison, a pioneer printer and Publisher of Montana, died recently at his ranch near Helena. Of late years Mr. Morrison had beeen prominently identified with mining interests. If a ruling made by the court in the trial of Theodore Canteloni, charged with the murder of Mollie Quinn, which opened Saturday morning, is sustained by the supreme court of the state, the death penalty is practically abolished in Montana. The court ruled that a juror who was opposed to the death penalty might sit on the jury, over the contention of the state that the law excluded him, and overruled the state's challenge to prevent his sitting. Ed Murphy and George Howard have been sentenced at Butte to seven years in the penitentiary on their plea of guilty of highway robbery. The men are both young and their crime was the attempted robbery of a sub postoffice and the shooting of Mrs. Rago, the postmistress, through the arm. Acting Governor Norris has appointed the following persons to represent Montana at the 10th annual convention of the American mining congress at Joplin, Mo., November 11-16; William Walsh, Helena; W. B. Orem, Butte; W. R. Allen, Anaconda; C. S. Muffly, Winston; H. M. Rae, Gilt Edge; E. B. Howell, Butte; C. E. Newman, Helena; J. L. Templeman, Butte; Harry H. Armstead, Polaris; Emerson Hill, Bedrock. Application for the appointment of a receiver for the State Savings bank, the Butte financial house of F. Augustus Heinze, by George Dodson, was brought before Judge Bouquin and continued until after the hearing of the petition of the state in the same matter November 15. The Royal Milling company, the big grain buying company in Montana for eastern account, announces the suspension of further wheat purchases, owing to unsettled conditions in the grain market. The crop is only onefourth sold in northern Montana and farmers. a reduction will fall heavily upon the Patrol Driver William McManus at Butte shot and killed a brewery driver, C. L. Hicks, in the "bad lands." Hicks had broke away from McManus after being arrested at another officer's call, and had run into an alley, first knocking McManus down.
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MONTANA NOTES. Isaac H. Morrison, a pioneer printer and Publisher of Montana, died recently at his ranch near Helena. Of late years Mr. Morrison had beeen prominently identified with mining interests. If a ruling made by the court in the trial of Theodore Canteloni, charged with the murder of Mollie Quinn, which opened Saturday morning, is sustained by the supreme court of the state, the death penalty is practically abolished in Montana. The court ruled that a juror who was opposed to the death penalty might sit on the jury, over the contention of the state that the law excluded him, and overruled the state's challenge to prevent his sitting. Ed Murphy and George Howard have been sentenced at Butte to seven years in the penitentiary on their plea of guilty of highway robbery. The men are both young and their crime was the attempted robbery of a sub postoffice and the shooting of Mrs. Rago, the postmistress, through the arm. Acting Governor Norris has appointed the following persons to represent Montana at the 10th annual convention of the American mining congress at Joplin, Mo., November 11-16; William Walsh, Helena; W. B. Orem, Butte; W. R. Allen, Anaconda; C. S. Muffly, Winston; H. M. Rae, Gilt Edge; E. B. Howell, Butte; C. E. Newman, Helena; J. L. Templeman, Butte; Harry H. Armstead, Polaris; Emerson Hill, Bedrock. Application for the appointment of a receiver for the State Savings bank, the Butte financial house of F. Augustus Heinze, by George Dodson, was brought before Judge Bouquin and continued until after the hearing of the petition of the state in the same matter November 15. The Royal Milling company, the big grain buying company in Montana for.
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A. F. HEINZE MUST GIVE $250,000 TO BUTTE BANK BUTTE, Mont., Dec. 28.-The hearing for the appointment of a receiver for the State Savings Bank, of Butte, was postponed by District Judge Bourquel today to January 16, with the condition that Augustus F. Heinze deposit to the credit of the bank $250,000, and that M. S. Largey, president of the institution, deposit $750,000.
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Matters of the Heinze Montana Savings Bank Butte, Mont., Dec. 28.-District Judge George M. Bourquin has continued the matter of the receivership for the State Savings bank, the financial institution in Montana of F. Augustus Heinze, until March 2, on condition that Heinze places a quarter million to the credit of the bank. If the money is not deposited the bank will not open for business on March 2: then It must liquidate. The State Savings bank suspended payment following the failure of Otto Heinze & Company in New York recently.
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Gives Heinze Time to Pay Up. Butte, Mont., Dec. 30.-District Judge George M. Bourquin has continued the hearing for the appointment of a receiver for the State Savings Bank to January 16, with the condition that F. Augustus Heinze deposit to the credit of the bank $250,000 and M. S. Largey, president of the institution, $75,000. These sums are rated on the stock held in the State Savings Bank by the two gentlemen. Judge Bourquin stated that if the bank was not ready to resume business January 16 he would wait until March 2, when he would appoint a receiver.
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Judge Approves Loan. Butte, Mont., Jan. 24. -District Judge George M. Bourquint has approved a loan of $200,000 by Edward Creighton largely to the state savings bank to enable the institution to resume business. Mr Larget who is the son of the founder of the bank accepts as security the building recently erected by the bank for its new home. The state savings bank was F. Augustus Heinze's financial institution in some Montana which suspended months ago.
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BUTTE BANK MAY REOPEN. Heinze Secures His Debt to the State Savings Bank, Butte, Mont.-State Bank Examiner T. E. Collins, in charge of the State Savings bank, reports to Judge Bourquin that F. Augustus Heinze, who owned 52 per cent of the stock of that institution when it suspended a few months ago, has turned over to him securities to secure the debt he owes the bank. On December 27 last, District Judge Bourquin, at a hearing incident to the proceedings growing out of the appli. cation of creditors to have a receiver appointed for the bank, announced that if by January 16 Mr. Heinze had deposited $250,000 in cash or market able securities to the credit of the bank, and M. S. Largey, president of the bank, had deposited $75,000, he Fould give the bank until March 2, if necessary, to reopen. If by that time it was not prepared to reopen. liquida. tion, the court said, must follow. Lar gey has deposited the $75,000, all in cash.
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LOAN TO HEINZE'S BUTTE BANK. Butte, Mont., Jan. 24.-District Judge George N. Bourquin has approved a loan of $200,000 by Edward Creighton Larget to the State Savings Bank to enable the institution to resume business. Mr. Larget, who is the son of the founder of the bank, accepts as security the building recently erected by the bank for its new home. The State Savings Bank was F. Augustus Heinze's financial institution in Montana, which suspended some months ago.
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Hanna as receiver. It was believed the bank was solvent, but its resources had been drained by a long run. Capt. William Rohde of the German steamship Neidenfels, just in from the Orient, asserts that the natives of India are busy preparing to shake off the British yoke. Lady Showing Ichijo, mother of the empress of Japan, died, aged 80 years. Paul Kelly, the motorman who was indicted for homicide in connection with the New York elevated wreck in which 16 people lost their lives on September 1, 1905, was found guilty of manslaughter in the second degree. Rev. Dr. P. F. Dissez, a member of the faculty of St. Mary's seminary. Baltimore, and who was one of the instructors of Cardinal Gibbons when he attended that institution, died, aged 80. Aurel Batonyi began suit in New York against Frank Work, his father. in-law, and two others for $1,500,000 for their alleged alienation of the affections of his wife, Mrs. Burke Roche. Dr. Farmano Lopez, who was connected with the recent conspiracy to blow up Premier Franco of Portugal with a bomb, made a daring escape from the San Julia prison, a strong fortress at the mouth of the Tagus river. James H. Smith and his daughter, Mrs. Mattie Halpin, were burned to death at Irvington, Ind. District Judge George M. Bourquin at Butte, Mont., approved a loan of $200,000 by Edward Creighton Largey to the State Savings bank, a suspended Heinze institution, to resume business.
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BUTTE SAVINGS BANK RESUMES Institution Which Closed Last Octo. ber Reopens for Business-Heinze Deposed. Butte, Mont., Feb. 15.-The State Savings Bank of Butte, which closed its doors last October, today resumed business. The petition for a receiver pending in the district court was dis. missed. F. A. Heinze has retired from the board of directors. There was no run and many persons opened new accounts.
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A LITTLE MINING CAMP or Reciets BLOODY CRIME SCENE THE BUTTE BANK A MAN TOOK A DARE; REOPENED TODAY (By Associated Press.) HIS LIFE PAID PENALTY Butte, Mont., Feb. 15.-The + * State Savings Bank, which closed its doors last October, resumed business today, and the % petition for a receiver has been Garfield County Sheriff and His Deputies are Searching dismissed. + F. A. Heinze has retired from * + the board of directors of the the Country Today for James Matevi, Who Fled to bank. + There was no run on the + the Hills After Killing a Companion--May Have + bank when it opened today, and many new depositors took up of accounts with the institution. Come to This County +