382801103 38280
national
3c98fd0598b0648bPublic signal of financial health, Capital injected, Full suspension, Books examined
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THE SUSPENDED CALIFORNIA BANK. San Diego, Cal., Nov. 14.-Bank Examiner W. H. Chamberlain arrived here last evening and began his investigation into the affairs of the suspended Callfornia National Bank. George V. Sims, of the Lombard Trust Company, of London, who came to this city
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California National bank has failed. By the failing of this San Diego bank a probability arose of a run being made on their banks through that bank, and so as to shield themselves and help a brother in distress a special is taken through loaded with enough coin to make any train robber happy for his lifetime if able to get the better of the bankers and their weapons.
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Anaheimers Bitten. ANAHEIM, Cal., Nov. 18.-J. W. J. Culton, of this place, had $50,000 in the suspended California National bank of San Diego; E. P. Fowler, of this place, had $5000 there.
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The San Diego Bank. As various reports have been in circu lation relative to the failure of the California National Bank, of San Diego, in which a considerable amount of stock had been subscribed in Chester county, Pa., as well as in this county, it may be of public interest to state that a gentle man of this town is in receipt of a letter from the Comptroller of the Currency at Washington, in which he says, that the bank had been examined about six months ago, and seemed to be in a fairly good condition. He states that the failure was caused by a run, and that there is a strong movement on foot to put in new funds and reopen the bank for business. So far as the financial management of the bank is concerned, nothing of a criminal character is reported at Washington, and that so far as advised it does not look like a bad failure. We are informed through another source, that the bank will probably resume business in about three weeks.
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A Bai K Receiver. SAN DIEGO, Cal., Dec. 16 -The comptroller of currency has oppoint. ed Fred Panly as receiver of the California National Bank. Bank will probaby resumel in a short time.
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California National Bank Receiver Appointed. SAN DIEGO, Cal., Dec. 16.- The comptroller of the currency has appointed Fredrick Pauly, of Los Angeles, receiver of the California National bank with the understanding the stockholders are to have ninety days in which to arrange for the bank's resumption.
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RECEIVER FOR A SAN DIEGO BANK-The controller of the currency today appointed Mr. Frederick N. Pauly of Los Angeles receiver of the California National Bank of San Diego, Cal.
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Receiver Appointed. WASHINGTON, Dec. 19.-The controller of the currency has appointed Mr. Frederick N. Pauly, of Los Angeles, receiver of the California National bank of San Diego, Cal.
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WASHINGTON, Dec. 18.-The comptroller of the currency to-day appointed Frederic N. Pauly, of Los Angeles, receiver of the California National bank, San Diego.
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The Bank May Resume. SAN DIEGO, Feb. 14.-It will be definitely settled in a few days whether the California National bank, which suspended here last fall, will resume business. A telegram has been sent to the comptroiler of the currency at Washington stating that 90 per cent of the stockholders had agreed to assess themselves to assist the bank. If the comptroller returns a favorable answer the bank will resume at once.
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MAY RESUME BUSINESS. Stockholders of the California National Bank Agree to Assess Themselves. SAN DIEGO. Cal., Feb. 15.-It will be definitely settled in a few days whether the California National bank, which suspended here last fall, will resume business. A telegram sent to the Comptroller of Currency at Washington stating that 90 per cent of the stockholders had agreed to assess themselves to assist the bank. If the comptroller returns a favorable answer the bank will resume at once.
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MAY RESUME BUSINESS. Stockholders of the California National Bank Agree to Assess Themselves. SAN DIEGO, Cal., Feb. 16.-It will be definitely settled in a few days whether the California National bank, which suspended here last fall, will resume business. A telegram sent to the Comptroller of Currency at Washington stating that 90 per cent of the stockholders had agreed to assess themselves to assist the bank. If the comptroller returns a favorable answer the bank will resume at once.
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MAY RESUME BUSINESS. Stockholders of the California National Bank Agree to Assess Themselves. SAN DIEGO, Cal., Feb. 15.-It will be definitely settled in a few days whether the California National bank, which suspended here last fall, will resume business. A telegram sent to the Comptroller of Currency at Washington stating that 90 per cent of the stockholders had agreed to assess themselves to assist the bank. If the comptroller returns a favorable answer the bank will resume at once.
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A Bank President Arrested. SAN DIFGO, Cal., Feb. 24.-J. W. Collins. President of the suspended California National Bank of San Diego. was arrested this morning by United States Marshal Gard on orders from the Comptroller of Currency at Washington. charging him with embezzlement of $200,000 of the bank's money.
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Charged With Embezzlement. SAN DIEGO, Cal., Feb. 25.-J. W. Collins, president of the California National Bank, which suspended Nov. 16, was yes terday arrested by a United States marshal on orders from Washington. Collins is charged with embezzling $200,000.
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Collins Arrested. SAN DIEGO, Feb. 25-J. W. Collins, President of California National Bank, which suspended Nov. 16, was this morning (arrested by U. S. Marshal Gard, on order from the Attorney General at Washington. Collins is charged with embezzling $200,000. The prelim-
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FOLLY AND A MELANCHOLY STORY GUILT. OF FINANCIAL visit of Bank Examiner action Cham- of The to San Diego, and the arrest of President berlain Receiver Pauly Collins, in causing of the defunct the city, Cali- has fornia National bank of that loose syscalled attention anew to the possible financiering which made Quite tem of to this catastrophe. came and led up of years ago Mr. Collins number Cheyenne to the city of had on from He appears to have to climate. and desired a with him, Bay'n' in $40,- our go 000 banking business southern into the neighbor. Everything He had was inpropitious for manners; his project. and was quite fanning, cagratiating pable of participating in, and the enthusiasm of San Diegans. seems to have been invited recommended His plan by its simplicity. He them, by paying interest conservative upon deposits a procedure which the more a result, he failed to imitate. As banks succeeded in hornswoggling $700,000 classes of had surplus earnings of all those of the of the ranging from those of servant San Diegans, girl and newsboy up that to after 3 the merchant. day It on is said which the failure of o'clock of the was announced a deposit of the of $2500 the was bank received from the chief It is even 5 department of San Diego. taken up to fire that deposits were closed. In added on the day the bank individual deo'clock to the losses of had addition the city of San moribund Diego instipositors, deposited in the $30,000 and the county $60,000. tution, of the $700,000 due other depositors, liabilOutside that there were When it is alleged the amount of $300,000. there were ities to closed it is said that circumthe bank in its vaults. Under the showing $15,000 this was a pretty good into the stances, all the facts were taken since inwhen Receiver Pauly has and count. creased this sum to between $50,000 $60,000. investigation. as far as peculiar it has The has ehown some very to be gone, There is paid which a things. of about $300,000 Collins is deficit referable to Messrs. Owing to the faulty system segand of bookkeeping Dare. it is impossible whole system to this account. The unforregate conducting the affairs of this on the of bank seems to have run tunate of Danton's,celebrated apostrophe, Dare." lines "To to Dare, always to Dare, our system of bank examiners to is What commissioners amounts bank. and bank by the career of this of the well shown the disclosures in It supplements bank of Philadelphia, holy, Keystone Postmaster Wanamaker, officiated. of which and immortal memory, find out pious rule, these able gentlemen been done. As a mischief after it has for the supposed to be invented public, They are of protecting the they are the purpose keeping the banks, which plane of appointed and to supervise, on the matter of and stable finance. As a till the fact, safe they are never done. heard from mischief has been collapse of the California reminds Naone The bank of San Diego the tional of the celebrated bank failure of of this Temple & 1875. Workman In that disastrous city, in cataclysm about $1,200,000 was the financial up. The failure in swallowed & Workman was California precipitated in of Temple of the Bank of propby that 1875. If it had been & September, handled, the Messre. Temple to have Workman erly had :ample property of their liatwice over every cent financially paid But the times were every bilities. joint. Dietrust existed on spreadout of the black financial cloud the hand, from San Francisco all over dissiing and a princely estate was much as coast, pated without the return of so a dollar to the depositors. a then Los Angeles which they bankers have never learned since experi- forlesson As a result of our past larger gotten. our banks today contain a than, ences of coin to the deposits States. proportion any other in the United for almost, ordeal was enough for a One such of a century. Fortunately quarter of our financial institutions, anticipated the stability banks of Los Angeles ehortenthe "bursting of the boom" by have the and what would otherwise safety. ing been sail, a storm, was ridden out in
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toward the Pacific coast where a tremendous boom was then beginning to wane. A majority of the stock was secured by Messrs. Davis, Addoms and Hurd. N. R. Davis continued as president, E. R. Hurd as vice president and F. E. Addoms cashier. In the meantime Collins organized the California national bank at San Diego with a paid up capital stock of $500,000 and removed his family to that city. In the fall of 1889 Collins bought out out and assumed a general control of the Cheyenne national. The three gentlemen named retired. Collins became president of the bank and Geo. L. Beard who had been assistant cashier was made cashier and given the management of the details of the bank. The failure of the California national last November through Collins connection involved the Chevenne national and caused its suspension. This with the suicide of the young cashier form a still fresh story in the minds of the public.
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DO EXAMINERS EXAMINE? A Criticism of the Value of Bank Examiners. The following, from the San Diego Sun, is in line with an opinion recently expressed in the HERALD. "There is good sense in the inquiry of the morning paper as to whether bank examiners examine. In the case of the California National, Colonel Chamberlain had made frequent appearances here, and his reports upon the condition of the tottering bank were invariably good. It is probably true that there was a great deal of money on hand at the time of the last examination which was taken out during the run that just preceded the failure; but for two years past a careful inspection of the securities and loans of the bank would have enabled any wise financier to foretell the inevitable end of euch wild-cat investments. How, for example, an examiner could reconcile his sworn duty with approval of such loans as those to George Monteith, the San Diego and Eastern Terminal and to various foreign mining enterpriees, the Jamul speculation, etc., and of the paying of 8 and 12 per cent interest on deposits, is a question which no one in this neck of the woods can solve. It is a pertinent query, aleo, whether. when the government has o K'd a bank, it is not responsible to depositors for the money they have lost through trusting to the thoroughness of its inspection and the accuracy of its reports."
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Dividend Declared. SAN DIEGO, May 12.-Receiver Pauly of the California National Bank said this evening that he had been authorized by Comptroller Lacy of the Treasury to declare a dividend of 10 per cent., payable to depositors as soon as checks could be prepared and signed by the Comptroller.
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Wyoming. Theft of a novel nature has landed Ed Dolan, n tramp, In the county jall at Rawlins. Dolan stole the telephone from the office of Judge Homer Merrell. Dolan says he did t not know the nature or value of the instrument, but thought It would sell for something. Governor Osborne hits Issued a proclamation offering a reward of $250 for the apprehension of Charles T. Gale, the defaulting city treasurer at Laramie. This is in addition to the 8500 posted by his bondsmen. Gale handled $80,000 while In office a year and was short $12,000. Pictures and descriptions have been scattered broadcast. A third dividend has been declared by the receiver of the Cheyenne National Bank. It brings the total of payment up to 50 cents on the dollar. and the creditors confidently expect to get 25 cents more. The bank failed for $300,000 eighteen months ago.going down with the California National Bank of San Diego. J. W. Collins was president of both. Sandobal and Martinez, the Mexicans who killed Jim Calboun, the foreman of one of Governor Osborne's sheep outfits, have been discharged by the coroner's jury. The AmerIcan and the Mexicans had quarreled over cards. Calhoun had threatened to kill the foreigners. They armed themselves, but meeting Calhoun, announced that they were merely on the defensive. They warned him to keep peace. Calhoun drew his six-shooter slowly. When the weapon was within an inch of being out of Its scabbard the Mexicans opened fire. All three pistols were emptied. The men continued shooting after they were down. There were nine wounds in Calhoun's body. One of the Mexicans received three bullets and the other four. but their hurts were not dangerous. All of Calhoun's wounds were above the walst.
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TOO FREE WITH THE PEN, And Now Finds Himself in Serious Trouble FOR ARRESTED FORGERY Prominent Throughout the West in Business Circles w. R. Stebbins of Kansas City Charged With Having Used Another Man's Signature SALT LAKE Sept. 13.-A special to the Tribune from Cheyenne, Wyo., says: W. R. Stebbins, who has been well known in banking and business circles throughout the west for the past twenty years, was arrested here this morning by Sheriff Armstrong of Crook county on the charge of forgery. The sheriff started north at once with his prisoner, who will have a hearing at Sun Dance early next week. Mr. Stebbins' home is in Kansas City, Kan., where he is connected with the American Loan and Trust comDany. He has large property interests here, owning the Cheyenne postoffic e building. He has been connected as a stockholder or officer in the Merchants' National bank of Deadwood, S. D.: the Stebbins, Post & Co. bank of Cheyenne; the First National bank of Sun Dance; the Stock Growers National of Miles City; Cheyenne National and California National of San Diego, all of which have failed but without loss, it is alleged, to Stebbins. It 18 charged that Mr. Stebbins owne ed a block of stock in the First National of Sun Dance from its organization. To conceal his ownership of the bank stock Mr. Stebbins transferred it to a Kansas City man named Mills. The bank was then prospering and paying dividends on the stock. It is alleged that in order to secure the dividends on the stock transferred to Mills, Stebbins made out a power of attorney to the addition of Sun Dance, signed Mills' name to it and sent the document to A. D. Dunn. It authorzed him to vote the stock and collect the dividends. It is also alleged that Mills was in ignorance of this transaction. Later the bank failed and went into the hands of Receiver Milo A. Adams, who levied an assessment on all stockholders for the benefit of the banks' creditors. Both Mills and Stebbins denied owning the stock referred to and an investigation which followed resulted in the discovery of the forgery. Besides his connection with western banks, Mr. Stebbins is connected with the banking firm of Christic & Janney of New York. Suits against him by representatives of the broken banks have been commenced in New York city. Wyoming and Kansas City. Mr. Stebbins and his family have traveled abroad considerably, and he is regarded as personally being very wealthy.
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All His Banks Failed, but, It Is Said, Without Loss to Him. Salt Lake, Sept. 13.-A special to the Tribune from Cheyenne says: W. R. Stebbins, who has been well known in banking and business circles throughout the West for the past twenty years, was arrested here this morning by Sheriff Armstrong, of Crookston, on a charge of forgery. The sheriff started north at once with his prisoner, who will have a hearing at Sun Dance early next week. Mr. Stebhins' home is in Kansas City, Kan., where he is connected with the American Loan and Trust Company. He has large property interests here, owning the Cheyenne postoffice building. He has been connected as a stockholder or officer with the Merchants' National Bank of Deadwood, S. D.; the Stebbins, Post & Co. Bank of Cheyenne; the First National Bank of Sun Dance: the First National Bank of Spearfish: the Stock Growers' National Bank of Miles City: the Cheyenne National Bank and the California National Bank of San Diego, all of which have failed, but without loss, It is alleged, to Stebbins. It is charged that Mr. Stebbins owned a block of stock in the First National Bank of Sun Dance from its organization. To conceal his ownership of the bank stock Mr. Stebbins transferred it to a Kansas City man named Mills. The bank was then prospering and paying dividends on the stock. It is alleged that in order to secure the dividends on the stock transferred to Mills, Stebbins made out a power of attorney. signed Mills' name to It and sent the document to A. D. Dun. It authorized him to vote the stock, receipt for and collect the dividends. It is also alleged that Mills was in ignorance of this transaction. Later the bank failed and went into the hands of a receiver, Milo A. Adams, who levied an assessment on all the stockholders for the benefit of the bank's creditors. Both Mills and Stebbins denied owning the stock referred to, and an investigation followed. resulting in discovery of the forgery. During his connection with Western banks he has also been connected with the banking firm of Christie & Janney, of New York. Suits against him by representatives of the broken banks have been commenced in New York city, Wyoming and Kansas City. Mr. Stebbins and his family have traveled abroad considerably, and he is regarded as being very wealthy.
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LYCURGUS MET HIM IN ATHENS San Dieg) Absconder Dare Again Turns up in Alexandia, Egypt. CHEYENNE, (Wyo.), Oct. 7.-Disguised under an assumed name and a heavy growth of whiskers, D. D. Dare, the defaulting president of the California National Bank of San Diego, Cal., and the Cheyenne National Bank, is now posing as a prominent citizen of Alexandria, Egypt, where he is the president of the principal street railway. United States detectives have been searching for Dare ever since his flight to Europe in 1891. but until very recently no trace of him could be had. A German traveler, who knows him intimately, discovered him on a recent visit to Alexandria. He did not make himself known to Dare, but instituted a quiet inquiry, and learned that he had been there for several years; that he was the president and principal stockholder in the Alexandria street railway, and was posing as a very prominent citizen. The German said that few people would recognize in the street railway magnate the man who had wrecked two national banks. Early in 1891 the San Diego bank failed for $300,000 and the Cheyenne ir.stitution followed a few days later for $250,000. Dare fled to Europe, and it is charged that he took large sums of money belonging to the depositors with him. He was accompanied by his ife, who returned to this country soon after. when the story became current that Dare had attempted to throw her overboard while crossing the Atlantic. It is believed that secret service men are now en route to Egypt to place Dare under arrest. SAN FRANCISCO, Oct. 8.-George Lycurgys of Honolulu left his island home in 1895 for a tour of Europe and also with a view of visiting Greece, his native land. Lycurgus had been told by acquatrtances of Dare that the absconder was in Athens and asked to visit him there. He said he found Dare running a concern known as the American Rug Company, with its place of business on the main thoroughfare of the ancient n.etropolis. While Dare was not talkative on the subpect of his sudden leparture from America, he said that he had :,1t San Diego solely on account of the climate, which did not agree with him. When reminded by Lycurgus that the climates of San Diego and Athens were much the same, Dare Insisted that the temperature of the Grecian city was much more conducive to his health. He denied that he had taken any funds of the bank, and insisted that he had left San Diego without any money. He had been fairly prosperous in the rug business and said that he expected his family to join him at an early date Dare said that owing to the climate Le did not think he would ever return to America.