287901150 28790
national
eaddc7cbb7eb16abNone
Click image to open full size in new tab
ANOTHER BANK QUITS. The First National Bank of Welling:on, Kad., Suspends Business, WELLINGTON, Kan, Oct. 22-The First National bank of this city closed its doors at 10 o'clock this morning by order of the directors. The bank has been doing business since 1883 with a capital stock of $50,000. A gradual shrinkage of business is responsible for the suspersion. The deposits amout to about $31, 000,
Click image to open full size in new tab
Kansas Bank Suspension. Wellington, Kas., Oct. 22.-The First National bank of this city was closed at 10 o'clock this morning by order of the directors. The bank has been doing business since 1883 with a capital of $50,000. A gradual shrinkage of business is responsible for the suspension. The deposits amount to about $31,000.
Click image to open full size in new tab
Kansas Bank Suspends. Wellington, Kan., Oct. 22.-The First National bank of this city closed its doors today by order of the directors. The bank has been doing business since 1883 with a capital of $50,000. A gradual shrinkage of business is responsible for the suspension. The deposits amount to about $31,000.
Click image to open full size in new tab
Bank Suspended. The controller of the curency Is informed of the suspension of the First National Bank of Wellington, Kans. Bank Examiner Sawyer is in charge. The bank has a capital of $50,000, and at last report had a surplus of $32,500.
Click image to open full size in new tab
WASHINGTON, Oct. 24.-The comptroller of the currency has received a telegram announcing the suspension of the First National bank of Wellington, Kan. Bank Examiner Sawyer was placed in charge. The bank has a capital of $50,000, and at last reports had a surplus of $32,500.
Click image to open full size in new tab
Kansas Bank Closed. WELLINGTON, Kas., Oct. 22.-The First National bank of this city closed its doors by order of the directors. The bank has heen doing business since 1883 with a capital stock of $50,000. A general shrinkage of business is responsible for the suspension. The deposits amount to about #31,000.
Click image to open full size in new tab
Receiver for a Wellington Bank. WASHINGTON, Oct. 26.-The Comptroller of the Currency has appointed J. Sam Brown of Sedalia Mo.. receiver of the First National bankof Wellington, Kan., which suspended payment on the 21st inst.
Click image to open full size in new tab
ANOTHER BANK CLOSED. The First National, at Wellington, Kan., Will Be Wound Up. WELLINGTON, Kan., Oct. 23.-The First national bank of this city closed its doors at 10 o'clock this morning by order of the directors. The bank had been doing business since 1883, with a capital stock of $50,000. A gradual shrinkage of business is responsible for the suspension. The deposits amount to about $31,000.
Click image to open full size in new tab
WELLINGTON, KANSAS, BANK CLOSES radual Shrinkage of Business the Cause Assigned. Wellington, Kan., Oct. 22.-The First National bank of this city closed its doors at 10 o'clock this morning by order of the directors. The bank has been doing business since 1883 with a capital of $60,000. Gradual shrinkage of business is responsible for the suspension. Deposits about $31,000.
Click image to open full size in new tab
Receiver for a Wellington Bank, WASHINGTON, Oct. 20.-The Comptroller of the Currency has appointed J. Sam Brown of Sedalia Mo., receiver of the First National bankof Wells ington, Kan., which suspended pay ment on the 21st inst.
Click image to open full size in new tab
Brown Receiver of the Bank. WASHINGTON, Oct. 26.-The comptroller of the currency appointed Mr. J. Sam Brown receiver of the First National bank of Wellington, Kan., which suspended payment on the 21st inst.
Click image to open full size in new tab
The tangled affairs of the First National bank are being straightened out rapidly under the management of Receiver J. Sam Brown. The fact is due very largely to the skill of Mr Brown in such matters. He has been in the employ of the treasury depart-ment constantly for the past eighteen years as a receiver of insolvent national banks and has always had a number of trusts of this character on his hands; at present he has six of them. And all of these appointments have come to him unsolicited. Moreover, it seems to make no difference what the politics of the administration may be. In fact we don't know what Mr. Brown's politics are or
Click image to open full size in new tab
BARNEY SHERIDAN'S JOB. Appointed Receiver of Two Defunct Wellington Banks. Wellington, Feb. 5.-Barney Sheridan of the Paloa Spirit has been appointed receiver of the First National and Sumner National banks of this city. J. S. Brown, the former receiver, has been appointed receiver of a bank in Helena, Mont. Mr. Sheridan was not an applicant for these places, but he happened to be in Washington at the time the vacancies occurred and Eugene Hagan of Topeka happened to be there with him and the appointment was made.
Click image to open full size in new tab
FIRST NATIONAL DIVIDEND. A Distribution of Twenty Per Cent to be Made to Depositors in the Defunct First National Bank. The comptroller of the currency has ordered a dividend of 20 per cent to be made to depositors in the defunct First National bank of this city. The checks have been made out and signed by the comptroller and are now in the hands of Receiver Sheridan ready for distribution. This is the first dividend that has been declared to depositors in the First National bank since its failure, October 22, 1895, nearly two years ago. The bank will probably be able, under good management, to pay another dividend of 20 per cent, which is about all the depositors will ever realize. It IS hard to tell when the next dividend will he made. The bank owes its creditors about $50,000, besides offsets one way and another. Its nominal assets are three times this amount, but most of its notes are worthless. The bank has three farms, a brick business building, a residence property and other minor holdings besides bank notes and claims against several stockholders who have not paid the 100 per cent assessment. Little can be realized from this, however, but under such conservative management as Mr. Sheridan has shown in handling the affairs of this and other banks, it is safe to say that a total of at least 40 per cent will eventually be paid to First National depositors.
Click image to open full size in new tab
# Miexsell Building Sold. Barney Sheridan, as receiver for the First National bank, Friday afternoon closed a deal whereby Tom Richardson of Houston, Tex., son of Thos. Richardson, the dry goods merchant of this city, becomes the owner of the Miexsell store building, one door north of Richardson's dry goods store, now occupied by the Racket. The building brought $2,800 cash. It was formerly owned by Z. Miexsell, the furniture dealer, who turned it over to the bank at the time of the failure to satisfy an assessment against him as a stockholder in the concern.
Click image to open full size in new tab
LEBANON BANKER SUED AN ASSESSMENT ON KANSAS BANK STOCK INVOLVED. It Is Claimed that George W. Baird Transferred His Stock When He Knew of the Bank's Insolvency. Late yesterday afternoon Albert J. Beveridge, for Bernard J. Sheridan, receiver for the First National Bank of Wellington, Kan., filed suit in the Federal Court for $5,000 and interest on that sum since March 17, 1896, against George W. Baird, president of the First National Bank of Lebanon, Ind., and his son-in-law, Joseph P. Coverdale. The complaint charges Baird with trying to evade payment of an assessment on stock amounting to $5,000 in the Kansas bank. The complaint sets out that the controller of the currency appointed J. Sam Brown receiver for the Wellington bank Oct. 24, 1895, and afterward, Feb. 2, 1897, appointed Bernard J. Sheridan in his place. It alleges that Baird had sixty shares of stock in the bank and that he transferred ten shares to his daughter, Josie B. Saltzgaber. He was president of the Wellington bank for the first two years of its existence, and for a long time afterward was a director. It is claimed that he had constant correspondence with the cashier of the bank and was closely informed of its affairs. When the bank entered into a period of extreme shakiness and the necessity for closing its doors drew nearer and nearer Baird knew of it, the complaint alleges, and tried to answer the appeals of the cashier for funds by borrowing from insurance / companies. It is claimed that he advised the cashier, when the failure of the bank became a matter a few days off, to turn over to the commissioners of Sumner county, Kansas, the assets of the bank in order that Baird might not be held liable for bonds which he had signed, insuring the county's funds deposited in the bank. April 20, 1895, the complaint alleges, Baird transferred to Coverdale the fifty shares of stock which he had retained in order that he might not be assessed when the bank failed. The doors of the bank closed, a receiver was appointed and an assessment of 100 per cent. made on the stock, the face value of which is $100 a share. Baird's old stock showed on the books of the bank as having been transferred to Coverdale. When, it is further claimed, demand was made for the assessment it was found that Coverdale was totally unable to pay. The controller of the currency advised that suit be brought against the two men asking that the transfer be set aside and judgment given for $5,000 and interest. It is alleged that when Baird transferred the stock he knew that Coverdale was unable to pay any assessment, and the court is asked to declare that Baird is still liable for assessment as a stockholder of the defunct bank.
Click image to open full size in new tab
State News. The railroad bill was carried in the senate by a vote of 26 to 13. Hill City has a new bank. It is known HS the Graham County State Bank. The Santa Fe has almost completed a new steel bridge across the Verdigris river near Coffeyville. The old First National bank building at Wellington has been purchased from the receivers by Richardson & Co. of that place. A broken board in an Abiline sidewalk cost the city $300. Suit was
Click image to open full size in new tab
Wellington Bank Dividend. Wellington, Feb. 6.-A dividend of 10 per cent to Sumner National creditors is now being paid by Receiver Sheridan. This makes a total of 75 per cent and there will be one more dividend of perhaps 15 to 20 per cent. If pending litigation turns out favorably, the bank will pay out; if not, it will lack 5 per cent to 10 per cent. As to the First National bank which has paid 60 per cent, there will be a final dividend paid at the wind up within the next 60 or 90 days-likely about 10 per cent.
Click image to open full size in new tab
to receive the checks from the comptroller of the currency for the final dividend by March 20, and hopes to wind up the affairs of both banks by April 14. The only thing that will prevent this is two Sumner National suits now pending. The First National's total dividends will be 75 per cent. and the Sumner National's dividends from 95 to 97, per cent. Mr. Sheridan has made an excellent record as receiver of the two defunct Wellington banks. When he took hold of their affairs the depositors had no hopes of ever receiving more than 50 per cent.
Click image to open full size in new tab
SELLING ASSETS OF BANKS. Receiver Sheridan Preparing to Make Final Settlement. Wellington, Kas., Feb. 26.-The remaining assets of the defunct First and Sumner National banks were sold at public auction in this city yesterday afternoon by Receiver B. J. Sheridan. The assets of the First National brought $1,241 and were sold to Luella F. Stewart. The Sumner National assets were sold to E. H. Stewart, and brought $1,301. They represented about $135,000. The First National assets represented about $103,500. Receiver Sheridan will make answer to the court about March 5. He expects