Article Text
Bank Closed. WASHINGTON, D. C.. November 16. -The comptroller of currency has closed the First national bank of Emporia, Kan., and appointed Chas. J. Jobes receiver.
First National Bank (Emporia, KS)
Episode Information
- Episode UID
191501187- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
19150national - Charter Number
- 1915
- Start Date
- November 16, 1898
- Location
- Emporia, Kansas (38.404, -96.182)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
567f3bfbe01150f9
Response Measures
None
Receivership Details
- Depositor recovery rate
- 65.0%
- Date receivership started
- 1898-11-16
- Date receivership terminated
- 1906-12-31
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 23.4%
- Share of assets assessed as doubtful
- 44.0%
- Share of assets assessed as worthless
- 32.6%
Events (4)
1.
January 2, 1872
Chartered
- Source
- historical_nic
2.
November 16, 1898
Receivership
- Source
- historical_nic
3.
November 16, 1898
Receivership
- Newspaper Excerpt
- The comptroller of the currency today took charge of the First National bank of Emporia, Kansas, and appointed a receiver.
- Source
- newspapers
4.
November 16, 1898
Suspension
- Cause
- Government Action
- Cause Details
- Comptroller of the Currency ordered the bank closed after an examination found it insolvent and books falsified.
- Newspaper Excerpt
- The comptroller of currency has closed the First national bank of Emporia, Kan., and appointed Chas. J. Jobes receiver.
- Source
- newspapers
Newspaper Articles (25)
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BANK FAILURE In Emporia, Kansas. WASHINGTON, D. C., Nov. 16.-The comptroller of the currency today took charge of the First National bank of Emporia, Kansas, and appointed a receiver.
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THE BANK'S CAPITAL Was Largely Tied Up in Outside Enterprise. Many Emporia People Will Suffor Loss. Stated That Cross Carried From $40,000 to $75,000 Insurance Emporia, Nov. 17.-The bank failure, heels, and the tragedy following on its have naturally created great excitement the in this community. The topics street are corones discussed on the only in the stores and everywhere where ners, two or more are together. The general feeling has quieted down of today following the startling news great yesterday. There is, of course, of anxiety, but nothing whatever a violent nature is in evidence. The depositors hope to get everything full, although they realize it may and take in some time. Receiver Jobes Vice President Martindale are emphatic in their statements that the depositors, reand probably the stockholders will will their money, although there bank cover be delay before the assets of the may On be May realized 9. C. upon. S. Jobes, the National First examiner, first examined the bank bank National bank and reported the as to the government at Washington insolvent. In July another examination was made by A. H. Foreman, a special ex- afaminer from St. Louis. The bank's Mr. fairs were still complicated and Foreman gave them. through authority from the comptroller of the currency, imuntil November 1st to restore the pairment of the capital stock. The sur- bank plus and undivided profits of the have amounted to about $100,000. The capital stock of the institution is not impaired until the surplus and undivided profits are consumed. The capital stock was thus impaired seriously The bank failed to do what the government required by November 1st and the failure resulted. The Cross estate together with William Martindale, owned $60,000 of the stock. The remaining $40,000 is held by various persons in small amounts. One of the largest stockholders is Dr. J. A. Moore, who has 30 shares, or $3,000, and J. W. Johnson of Hamilton, Greenwood county, who owns nearly the same amount. The remainder is divided up into still smaller amounts among R. D. Thomas, H. H. White and D. M. Davis. Among the depositors are: Mrs. J. Eckdall, $100: W. R. Irwin, $100: J. A. J. Moore, $400: Haines Brothers, $600; S. Kenny, $2,500; John Henning, $2,500; J. W. Leifred, $1,200; the Ladies' Lecture Course association, $1,000; Miss Maynard, school teacher, $2,000; J. Morris, This cattle man man, lost $8,000. $8,000 in cash here. He sold cattle yesterday in Kansas City to the amount of $4,000. Suspicious information which he secured led Mr. Morris to wire Kansas City instructing them not to place the $4,000 to the credit of the First National bank of Emporia. He thus saved himself this amount. Others followed his example. Owing to the presence of the bank commissioner here for several days a number of depositors were suspicious and drawing out saved themselves in varous sums. A number of them not caring to excite suspicion drew out all of their money excepting small balances of $15 or $20. Many of them, however, had so much confidence in the Cross institution that they refused to protect themselves after they were warned that the bank was in a dangerous condition. There is an expression current in this community "as good as the Cross bank." It is used often by old time farmers in referring to the credit of men with whom they do business and the famers themselves by the failure of this bank will become the heaviest losers. The failure will reach a number of business institutions here in a small way because of the amount of notes and paper held as liens on implements, farming tools, etc. While no failures among the business people of this city are anticipated by reason of the bank closing, the closing of the bank will tie up a considerable amount of money The failure of the bank is assigned to two causes. First, possession of bad and real estate not ready sal because a able. paper Second, large amount of money belonging to the bank is said to be have been misdirected. The general accepted theory here of the suicide of Charles Cross is that aside from the humiliation, he took his own life to escape prosecution and possibly a term in the penitentiary. It is under stood that Mr. Cross invested in live stock interests money of the bank and of the Cross estate without intending to viclate any law yet in such a manner that the law has really been violated. A large amount of what bankers call accommodation paper has been used. For instance one loan of $10,000 to H. Leibfred and an additional amount to the same person loaned was made proswithout any apparent security or pect of recovery. The fact that Leibfred was interested in this way was developed at the recent trial in which he sought to gain from Mr. Cross the possession of an interest in Sunny Slope farm and to cause a receivership. Cross and the Cross owe C.S. supposed estate the bank $60,000. In this is to
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PRESIDENT CROSS SURPRISED. Not Aware of the Bank's Bad Condition-His Big Life Insurance. Emporia, Nov. 17.- - The streets were crowded today with depositors of the closed First National bank, whose president, Charles S. Cross, yesterday took his life soon after that institution was taken charge of by a receiver. Many of the depositors had come in from the country. There was little or no excitement however, the tragic suicide of President Cross engrossing the most of the conversation. The coroner's jury today rendered a verdict in accordance with the facts. The inquiry developed facts that would indicate that the collapse of the bank came as a surprise to President Cross and that the resolution to take his life was formed and carried out within an hour. Cross carried from $60,000 to $70,000 life insurance. Some anxiety is expressed as to the effect the failure may have on the Eureka bank and the Burlington National bank of which Wm. Martindale of the failed First National bank is president.
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money from the depositors. But the bankers here were prepared. had been anticipating a crisis in They the affairs of the First National and their vaults were filled with thousands of dollars for emergencies. Nearly $150,000 reached Emporia on yesterday's early trains and it was in the three banks, the managers ready for any sort a of run which might be made, but the money was not needed. Early in the morning the subject of a run on the other banks was discussed. At 9 o'clock, the hour for opening the banks, business men stood at the front doors of their stores to see if a crowd lined up in front of the remaining The banks banks. No one came. opened and began the day's business. Still no one came to demand his or her money. The hours dragged on until closing time, 3 m. and not one depos itor had asked for his balance in cash. When the banks figured up their accounts at the close of business it was found that the three of them had increased the amount of their deposits over $100,000 during the day. The piles of money in the vaults were lying untouched while the people seemed determined to assert their faith in the remaining banks by depositing liberally. The flurry caused by the failure has passed. It is now impossible for those interested to ascertain anything about the condition of the bank and Comptroller Dawes has instructed Receiver Charles S. Jobes to give no information to creditors, depositors, stockholders or men newspaper The public is now discussing the affairs of the Cross family. .The question whether the family is ruined is now uppermost. Some conservative business men think the Cross family, Martindale and some of the stockholders will not recover from the losses. Mrs. H. C. Cross thinks the Sunny Slope farm is in her name, but those familiar with the condition of the bank and its affairs say that the ranch is in the name of the dead president. If it should be in the name of Mrs. H. C. Cross it will be saved as she does not own a dollar's worth of the bank stock. In this way she would escape liability in every particular. But the property has not been partitioned and unless the ranch is in Mrs. Cross' name, it will be seized as a part of the assets of the bank and will be applied to settlement of the affairs of the institution. The heaviest individual loser among the depositors is Joseph Stotler who is caught for $20,000. Public sympathy is with Stotler more than with any other person who lost money, because several years ago he saved the bank from ruin by permitting it to use about $50,000 which he had on deposit. This came about in a strange way. Stotler lives in the country several miles from Emporia He was at work one day when D. W. Holderman, now dead, and Charlie Cross drove up to his place in a buggy. They asked him about his money and inquired if he intended to use it within a few days. Stotthe ler said he thought not. Then, story goes, Dan Holderman said to him: "Stotler, the bank is in a close place and it will fail if you draw out your money. If you leave it there for a few days we will pull through, but if it comes out we are ruined. Stotler was at first very much alarmed and said he did not want to take chances on losing the money Notes and securities were exhibited by Cross and Holderman and Stotler was convinced that the help he could give them would save the bank. He did SO and the calamity which Cross and Holderman admitted was impending, was averted. Now Stotler loses a small fortune. The condition of the bank which has been known to other bankers here for nearly a year has escaped the bank examiners, apparently, because Cross has shown them such a good time that they did not go into the bank's affairs with as much care as should have been exercised. The present examiner, according to the testimony of the Emporia bankers. is a man eminently qualified for the position which he holds. It was the first examination Mr. Jobes made after his appointment by President McKinley and he soon discovered the condition of the bank. despite the efforts of Mr. Cross to divert his attention in other directions. Cross insisted that Jobes should not confine himself so closely at work in the bank, but Mr. Jobes declined the invitations to go hunting, to Sunny Slope and to dinner parties and applied himself to digging into the bank's accounts. How well he succeeded will be reported to the comptroller of the currency but not to the people, it is a secret of the government of the as United tSates and is being guarded closely. One of the most serious things reflecting on Vice President and Director Martindale is the assertion that he signed a doctored statement of the bank Sunday the very weak and fraudulent on idea of deceiving the public and in case of discovery to avoid the charge of deceit by saying the state. ment was made on Sunday and not binding. The bank was ordered closed and this official action took place under dramatic circumstances. Mr Jobes was ordered to close the bank. He was armed with the telegram instructing him to take such action. It was delivered to him at 12:01 Wednesday afternoon. He walked from the hotel to the bank and inquired for Mr. Cross who was not in. Soon Cross came in and at the suggestion of Mr. Jobes went to the private office in the bank. The cipher authority in the telegram was translated by Mr. Jobes for Mr. Cross while the latter was standing up by his desk. He staggered, but backward, then sank into his chair, immediately straightened himself up tremor in his voice: and said, without a send for Mr Martindale? cannot 'May wait to close the bank. Mr. must It must be done at once. Cross. officially and with promptness, perform, order, but according to this assure my duty, you that it is extremely painful to Wait until Martindale comes," said Cross. 'Mr. Cross, that is impossible." "I'll telephone Martindale, anyhow," did so. he said Mr. Cross. and you want to tell "Now, Mr. Cross. do stop men to close up the bank and inwork. the or do you want me to do that?" quired Mr. Jobes you like," was the reply. "Just "No." as replied Mr. Jobes, "that shall be done as you say." from his chair and walked a few Cross feet arose to where Mr. Jobes was standing.
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Cross Got Away with $65,000. Washington, Nov. 18.-Comptroller of the Currency Dawes has received word from C. S. Jobes, bank examiner and temporary receiver of the First National bank of Emporia, Kas., that the amount of President Cross' defalcation will reach $65,000.
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P Second Bank Suspends. TOPEKA, Kan., Nov. 18.-As the result of the failure of the First National bank at Emporia, State Bank Examiner Briedenthal has directed the State bank at Madison, Kan., to suspend.
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Receiver for Kansas Bank. The controller of the currency has appointed Charles S. Jacobs as receiver for the First National Bank of Emporia, Kan., which has failed. The capital stock of the bank was $100,000.
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He Is Also Known Here. Charles 8. Cross, president of the First National bank of Emporia, which was closed Wednesday, and who shot himself. presumably on that account, 19 well known to many ex Emporis people residing in Las Vegas and vieinity, says the Optie. "Charley" Cross has always been looked on as one of the safest and best young financiers in the state of Kansas. While he was never burdened with the eogno. men of "Honest Charley," yet every man, woman and child in Emporia swore by him and would have trusted him with their last cent. His, father, the late H. C. Cross, who founded the bank. was appointed receiver of the then almost bankrupt Missouri, Kansas & Texas railway along in the early nineties, and managed it 80 well that in a few years it was in first class condition and making money. Charles was the owner of "Sunny
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President Cross' Confession. Kansas City, Nov. 19.-A special to the Star from Emporia, Kan., says: There is a rumor on the streets today regarding the failed First National bank that several days before he killed himself, President Charles S. Cross wrote out a full confession of his shortage to the bank and left it with a friend. It is said that the confession exonerates Vice President Martindale and Cashier Davis. Friends of Cross deny the existence of any such letter.
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Appointed Receiver. Emporia, Kan., Nov. 21.-Bank Examiner Charles S. Fobes of Wichita has been appointed receiver of the First National bank. It is now thought the depositors will realize from 50 to 80 per cent. in small dividends extending over a period of two years.
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JOBES DEFENSE Comptroller Dawes Replies to Local Criticisms. BOOKS GF CROSS' BANK Doctored and Thousands of Dollars Loaned Illegally. Washington, D. C., Nov. 21.-In view of statements in the local prese criticising Bank Examiner Jobes in connection with the closing of the First National bank, of Emperia, Kan., Comptroller Dawes today made a statement of the condition of the bank which led to the closing if its doors. The comptroller states that not only is the bank insolvent, but that the books were falsified to the extent of over $65,000, and hat as the examination proceeds the ocnditions of the bank seems to be worse. The amount loaned in violation of law to the officers of the institution is in the neighborhood of $155,000. Emporia, Kan. Nov. 21.-Bank Examiner Charles C. Jobes of Wichita has been appointed receiver of the First National bank. It is now thought the depositors will realize 50 to 80 per cent in small dividends, extending over a period of probably two years.
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BAD BANK FAILURE. Emporia Institution Insolvent and Books Were Falsified. Washington, Nov. 21.-In view of statements in the local press criticising Bank Examiner Jobes in connection with the closing of the First National bank of Emporia, Kan., Comptroller Dawes today made a statement of the condition of the bank which led to the closing of its doors. The comptroller stated that not only is the bank insolvent, but that the books were falsified to the extent of $65,000, and that as the examination proceeds the condition of the bank seems to be worse. The amount loaned in violation of law by officers of the institution is in the neighborhood of $155,000. Emporia, Kan., Nov. 21.-Bank Examiner Charles S. Jobes of Wichita has been appointed receiver of the First National bank. It is now thought the depositors will realize 50 to 80 per cent in small dividends, extending over a period of two years.
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The Broken Emporia Bank. Emporia, Kan., Nov. 22.-Bank Examiner Charles S. Jobes, of Wichita, has been appointed receiver of the First National bank. It is now thought the depositors will realize 50 to 80 per cent. in small dividends, extending over a period of probably two years.
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and lead the party to victory. If not there will be plenty of time to discuss men, who are now available, afterward. Let the people rest for a while. The people will have to come after their "message of hope" judging from the following from the Wellington Voice: "When Governor Stanley was in Wellington Monday evening he had his supper at the Arlington sent up to his room. Now that the election is over it will not be expected, of course, that he will stay "down among the people." Senator Harris' seat in the State Senate this winter will be filled by James C. Stone. He was elected in 1897 and is the Leavenworth county man who has been putting up such a remarkable fight to secure the L. T. & S. W. right-of-way through his farm. If he proves to be as good a political fighter he will win a place for himself in the Senate without difficulty. Labette county is a little slow in the matter of filing on political claims. It only has ten candidates for appointments under the new Republican administration. But if this proportion is kept up it means that there are only about 1,000 applicants in the State. By January 1 this will be increased fifteen fold thereby bringing the number up to majority received by Stanley. The fellow who bobs up and swears at the central committee every time anything goes wrong has not yet been heard from. He will be around declaring that Riddle defeated the whole ticket before long. The average committeemen have a little personal pride and do the best they can to make a good showing. They fail some times but it is never a case of lack of desire to accomplish results. At Emporia there have been two Republican factions for years. They were both strong and influential and always at war with each other. The two leading banks were the headquarters and inspiration of each. Without the banks behind them their influence would have been seriously impaired. How will it be when Mr. Gage's big national bank and its branches are in operation? Will the banker and the people who are not in the syndicate have any place on the map at all? The failure of the First National at Emporia indicates either that national bank examinations are worthless or that the Emporia Republican's charges of political scheming are true. If the last statement showing $100,000 unimpaired capital and $100,000 undivided profits was correct then the institution was solvent and there was no occasion for closing and if incorrect the examiners are at fault for allowing the bank to run. Ordinary horse sense would have dictated that, if the bank will pay out as the comptroller of the currency says it will, it should have been given time until Mr. Cross' big Hereford sale occurred when enough undoubtedly would have been realized to have helped out materially. If the bank's assets at forced sale pay out in full then in the ordinary course of events they would have done 25 per cent. better. If the assets are realized on as expected then the bank was never insolvent. There may be more politics in this affair than was at first anticipated as this bank was the headquarters for the anti-Leland-Lambert faction.
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The Emporia Bank Failure. Kansac City, Mo., Nov. 17.-A dispatch to the Journal from Washington says: Comptroller of the Currency Dawes to-day received word from C. S. Jones, bank examiner and temporary receiver of the First National Bank of Emporia, Kansas, that the amount of President Cross' defalcation would reach $65,000. It has been learned also that Cross loaned his own firm $150,000 of the bank's funds, and probably the greater part of this will be lost. Comptroller Dawes has ordered the examination of all Kansas banks which had any dealings with the First National of Emporia. Kansas City, Mo., Nov. 17.-A special to the Star from Emporia. Kan., says: The failed First National Bank will not resume business. The assets left by President Cross are the Sunny Slope stock farm, and cattle, worth probably $150,000 at forced sale.
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More Prosperity. ANOTHER ONE QUITS. TOPEKA, Kas., Nov. 16.-As a result of the failure of the First National bank at Emporia, State Bank Commissioner Breidenthal tonight directed the State bank at Madison, Kas., to suspend business. According to its last report the Madison bank had $39,000 in the First National at Emporia. It is not thought that any other banks will be involved.
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# THE CREDIT SYSTEM. The News one day last week said: "As illustrating modern methods of business it is stated by the Indianapolis Journal that one day last week a bank in New York city brought to the clearing house checks upon other banks amounting to $15,647,583.82, and other banks brought checks upon it amounting to $15,647,401.85. This resulted in business amounting to $31,294,985.67 being transacted by the actual handling in cash of only $181.97, the amount of the bank's credit balance. This shows how largely modern business is transacted by an exchange of credits. It is said that the exchanges of the New York clearing house for the past forty-three years show cash balances averaging less than 5 per cent of the exchanges, showing that 95 per cent of the business is done without any actual transfer of money. Yet there are rural and populistic statesmen who think the volume of the currency should equal the volume of business, dollar for dollar." There may be such populistic statesmen but we do not know of them. The above is a very fair representation of modern methods of doing business on the credit system. It is obvious that the security of the course of business is not and cannot be more solid than the credit of the banks on which the checks are issued, we may almost say than the credit of one of the banks; for if one large bank having many large checks issued against it fail, it not only requires a large amount more of cash to take their place, cash becoming difficult or impossible to procure, but it affects the credit of other banks; straightway like a pyramid standing on its apex and jostled out of balance, the whole fabric of credit falls to the ground. If credit is destroyed, instead of 95 per cent of the business being done on credit probably not 50 per cent of it will be, until through time, and the elimination of the disturbing elements credit resumes its sway again for a time. Then, when credit is impaired is the need for cash which is not to be had. Populists contend that if all the while there were more money in the country less business would have to be done on credit and there would be more security. Another measure which would very largely tend to eliminate the uncertain and ephemeral character of the credit system would be some scheme by which bank deposits would be made secure. When the volume of business done on credit is largest, the danger of collapse is greatest, Credit is now doing much work in the business of the day. Speculation is becoming rife. Some big concerns will some day find they have loaded up more than they can carry. Now and then there are tremors running along the system already, as is noticeable in the failure of the First National Bank of Emporia, of G. G. Gillett, the great cattle king, etc. It is only a question of time how long credit may be bolstered up. It may run for a few years yet and it may receive a shock at any day which will knock thoughts of prosperity funny.
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"SOUND MONEY.' The New York Sun occasionally shines with its old time lustre, as witness the following: "News comes from Emporia, KanBas, that the president of the First National Bank of that city has committed suicide after wrecking the bank 80 badly that not only are its capital and surplus gone. but the depositors will get little or nothing of the $500,000 owing them. As a consequence of this failure, the neighboring Madison bank has been obliged to close its doors. "Only a few weeks ago the Trades. men's National Bank of this city, which the Controller of the Currency supposed was perfectly sound, was examined by a committee of the Clearing House and found to be in solvent. Its depositors have not yet been paid a cent. and its stockhold. ers will probably lose the greater part of the money they have invested in its stocks. "When the Chestnut Street Nation al Bank of Philadelphia failed, a year ago, the discovery was made that it had been insolvent for over a year, and the Comptroller of the Currency knew it. Still, the bank was permitted to continue doing business and to receive deposits, because, as the Comptroller declared, closing its doors might have caused runa on other Philadelphia banks and lead to a panic. "These are but specimens of occur. rences which happen every few days. The failures of national banks are so frequent that they excite no comment and interest nobody but the sufferers by them. As a protection to bank creditore the Government manage. ment of banks is A delusion, and 80 would be its protection of bank note holders, If the notes were not secured by bonds. "Yet, the bankers and the eo-called currency reformers want the govern. ment to 'go out of the banking busi. ness," by turning over the function of issuing circulating notes exclusively to the banks. and let the people look
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BANK FAILURES. Jan. 17-State, Elmwood, III., $60,000. 24 -National, Paola, Kan., suspended. 31 - First national, Larimore, N. D., $71,754. Feb. 24-Bank of Southern Baltimore, $170, 000. Mar. 16-Home savings, Sioux City, Ia., $60, 000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29-Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul. .20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, 1a., $59,474 Northern, Lexington, Ky. (suspended) 23-Tawas savings, Tawas City, Mich. (sus pended) Aug. 11-Bank of Waverly, III., $150,000. 27 -Fillmore county, Preston, Minn., $150,000. Sep. 14-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Aia., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., lia bilities, $50,000. Oct. 4-Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., liabiliGerman national of Pitts ties $108,000 burgh, Pa., liabiliteis, $2,000,000. 21-First national, of Lisbon. O., capital 350,000-closed; resumed on Nov. 15. 29-Second national, of Springfield, 0, goes into liquidation. Nov. 5-First national, of Flushing., O., suy. pends. 16-First national, of Emporia, Kan., closed. 28-Bank of Hornersville, N. Y., closes doora with liabilities of $75,000. 30-Second national, of Toledo, O., goes into voluntary liquidation. Dec. 5-American savings, at Charleston, S. C., placed in hands of receiver. Liabilities, $100,000.
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BIG SUIT. Kansas Banker and Politician Sued for a Large Sum. Topeka, Kan., March 29.-United States District Attorney Lambert to-day filed suit in the United States district court against William Martindale, of Emporia, to recover claims aggregating $166,000, alleged to be due the defunet First National bank, Emporia, in various transactions in which Martindale is involved. Suit is brought on complaint of Morton Albaugh, as receiver of the bank. of which Martindale was president. It is alleged that Martindale has $125,000 worth of real estate. besides personal property. An hour after the bank was ordered closed by the comptroller of the cur reney, on November 16, Charles 8. Cross. its president, committed suicide. In a confession he left Cross exonerated Vice President Martindale and other bank officials. admitting that he lost the bank's money in cattle and other speculations. Martindale has for years been one of the most prominent and respected men in Kansas.
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A BIG LAWSUIT. William Martindale of Emporia, Kansas, is Defendant. TOPEKA, Kans., March 29.-United States District Attorney Lambert today filed suit in the United States district court against William Martindale, of Emporia, to recover claims aggregating $166,000, alleged to be due the defunct First National bank of Emporia in various transactions in which Martindale was involved. The suit is brought on complaint of Morton Albaugh as receiver of the bank. of which Martindale was vice-president. It is alleged that Martindale has $125,000 worth of real estate besides his personal property. A CONFESSION. An hour after the bank was erdered closed by the comptroller of currency, November 16. Charles S. Cross, its president, committed suicide. In the confession he left Cross exonerated VicePresident Martindale and the other bank officials, admitting that he lost the bank's money in cattle, and other speculations. Martindale has for years been one of the most prominent and highly respected men in Kansas.
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M. Davis, the cashier of the defunct First National bank at Emporia, who disappeared recently, has been located and that his arrest will occur in the next twenty-four hours. Dr. Davis' relatives in Emporia are all anxious for him to come back and stand trial. He has wealthy and influential relatives in Emporia who are trying in every possible way to locate Davis and bring him back. It is believed that he left in a panic and will return voluntarily soon if he is not apprehended.
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A 10 PER CENT DIVIDEND. The Cross Bank to Make Another Payment on May 22. Emporia, May 20.-Word has been received by Receiver Albaugh, of the First National bank, from the comptroller of the currency at Washington that the checks for the 10 per cent dividend have been sent and they are expected here every day. Mr. Albaugh stated today that the bank would open up Monday morning, May 22, fully prepared to pay the 10 per cent dividend.
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WANTS CROSS ESTATE SOLD. A Suit Involving the Affairs of a Former Emporia Bank. Emporia, March 28.-A petition was filed in the probate court Thursday by A. W. Benson, receiver for the First National bank, asking the administra-