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HOLDS STATE FUNDS. LANSING. Mich., June 22.-The First National Bank of Ironwood, which has, acting under an order of the comptroller of the currency, closed its doors, has been one of the state depositories. The bank only had on deposit about $2,500 of state funds at the time it suspended business, and this sum is amply protected by a $5,000 bond.
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HOLDS STATE FUNDS. LANSING, Mich., June 22.-The First National Bank of Ironwood, which has, acting under an order of the comptroller of the currency, closed its doors, has been one of the state depositories. The bank only had on deposit about $2,500 of state funds at the time it suspended business, and this sum is amply protected by a $5,000 boad.
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BANKERS CAUGHT IN EMBEZZLEMENT Looted the Bank of $200,000 But Must Now Stand Trial Ironwood, Mich., July 2.-President H. F. Japn, Cashier E. T. Larson and Assistant Cashier George H. Meadow of the First National bank of this city have all been bound over to the federal grand jury which meets a: Marquette, September 7. The charges against them are the outgrowth of the failure of the bank which was closed last week by the federal authorities, Meadow is in jail at Bessemer in default of $50,000 bail, while Japn furnished $25,000 and Larson $10,000 bail bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on the other assets. The loss to the depositors will probably be heavy, as it
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MICHIGAN BANKERS HELD. Officers of Ironwood National Must Explain Cash Shrinkage. IRONWOOD. Mich.. July 2.-President H. F. Jahn. Cashier E. T. Larson and Assistant Cashier George H. Meadow of the First National Bank of this city have been bound over to the federal grand jury. which meets at Marquette September 7. The charges against them are the outgrowth of the closing of the bank last week by the federal authorities. The bank had about $600,000 in deposits, and the receiver has now in his hands about $100,000 in assets. The loss to depositors will probably be heavy.
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MICHIGAN BANKERS BOUND OVER TO GRAND JURY Superior, Wis., July 2.-A special to the Telegram from Ironwood, Mich., says: President H. F. Jahn, cashier E. T. Larsen and Asst. Cashier George H. Meadow, of the First National bank of this city, have all been bound over to the federal grand jury which meets at Marquette. Sept. 2. The charges against them are the outgrowth of the failure of the bank, which was closed last week by the federal authorities. Meadow is in jail at Bessemer, in default- of $50,000 bail, while Jahn furnished $25,000 and Larsen $10,000 ball bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on other assets.
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BANK OFFICIALS BOUND OVER TO GRAND JURY. Superior, Wis., July 2.-A special to the Telegraph from Ironwood, Michigan, says: President H. F. Jahn, Cashier E T. Larsen and Assistant Cashier Geo H. Meadow, of the First National bank of this city, have all been bound over to the federal grand jury which meets at Marquette September 2. The charges against them are the out growth of the failure of the bank which was closed last week by federal authorities. Meadow is in jail at Bessemer in default of $50,000 ball, while Jahn furnished $25,000 and Larsen, $10,000 bail bonds. The bank had about $600,000 in deposits and the receiver now has about $100,000 in quick assets. It is not known what amount can be realized on other assets.
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$500,000 GONE; BANKERS NABBED. President, Cashier, Assistant Cashier Are Bound Over to Grand Jury. Ironwood, Mich, July 3.-President H. F. Jahn, Cashier E. T. Larson, and Assistant Cashier George H. Meadow of the First National bank of this city have been bound over to the federal grand jury, which meets at Marquette Sept. 7. The charges against them are the outgrowth of the closing of the bank last week by the federal authorities. The bank had about $600,000 in deposits, and the receiver has now in his hands about $100,000 in assets. The loss to depositors will probably be heavy. Meadow is in jail at Bessermer in default of $50,000 bail, while Jahn furnished $25,000, and Larsen $10,000 bail bonds.
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MICHIGAN BANKERS HELD TO GRAND JURY Superior, Wis., July 2.-A special to the Telegram from Ironwood, Mich., says: "President H. F. Japon, Cashier E. T. Larsen and Assistant Cashier Geo. A. Meadow, of the First National bank of this city have all been bound over to the federal grand jury which meets at Marquette, September 2." The charges against them are the outgrowth of the failure of the bank which was closed last week by the federal authorities. Larsen is in jail at Bessemer in default of $50,000 ball, while Japon furnished) $2000 and Meadow $10,000 ball bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on other assets.
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BANKERS BOUND OVER. Superior, Wis., July 2.-A special to the Telegram from Ironwood, Mich., says: President H. F. Jahn, Cashier E. T. Larsen and Assistant Cashier George H. Meadow of the First National bank of this city, have all been bound over to the federal grand jury which meets at Marquette Sept. 2. The charges against them are the outgrowth of the failure of the bank, which was closed last week by the federal authorities. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on other assets.
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THREE MICHIGAN BANKERS ARE HELD FOR TRIAL SUPERIOR, Wis., July 2.-A special to the Telegram from Ironwood, Mich., says: President H. F. Jann, Cashier E. T. Larsen and Assistant Cashier George H. Meadow of the First National bank of this city have all been bound over to the federal grand jury, which meets at Marquette September 2. The charges against them are the outgrowth of the failure of the bank, which was closed last week by the federal authorities. Larsen is in jail at Bessemer, in default of $50,000 bail, while Jahn furnished $25,000 and Meadow $10,000 bail bonds. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in quick assets. It is not known what amount can be realized on other assets.
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SAVED EXPENSE OF A TRIAL Ex-Bank President Charged With Forgery and Embezzlement Used His Revolver. [Gate City Leased Wire Service ] IRONWOOD. Mich., Sept. 4.-P. F. Jahn, former president of the defunct First National bank of this city. who was to have been tried in the United States court at Marqueette last week on the charges of forgery and of participating in the embezzlement of $20,000 committed suicide at home, by shooting himself through the heart with a revolver. Two other officers of the bank, E. E. Larson, cashier, and George H. Reddow. assistant cashier, are awaiting trial on embezzlement charges. The bank, with deposits of $600,000 was closed June 21 by National Bank Examiner George E. Luther, and Phillip Tillinghast was appointed receiver. The three officers were arrested June 30.
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Bank Officials Held. Marquette, Mich., Sept. 7.-The Federal grand jury convened here today to investigate the charges against President Jahn, Cashier Larson and Assistant Cashier Meadow, who are accused of wrecking the First National Bank of Ironwood. The bank had about $600,000 in deposits and the receiver has now in his hands about $100,000 in assets. The less to depositors will probably be heavy. It is alleged that Larson has in the last two years embezzled $200,000 of the bank's funds. He also is charged with making false entries, setting forth that the bank owned $75,000
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sues BANKERS FOR $205,000 MARQUETE, Mich., Oct. 6.Charging them with negligence and carelessness in their supervision of the business operations of the Ironwood First National bank. as a result of which he alleges the depositors have sustained grievous financial losses, P. Tillinghast has filed suit in the U. S. district court here against the directors of the bank, of which he is in charg eas receiver. In behalf of the creditors he asks judgment for approximately $205,000.
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SUES BANKERS FOR $205,000. MARQUETE, Mich., Oct. 6.Charging them with negligence and carelessness in their supervision of the business operations of the Ironwood First National bank, as a result of which he alleges the depositors have sustained grievous financial losses, P. Tillinghast has filed suit in the U. S. district court here against the directors of the bank, of which he is in charg eas receiver. In behalf of the creditors he asks judgment for approximately $205,000.
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ANOTHER IRONWOOD BANK CLOSES DOORS MARQUETTE, Mich., June 13.-After standing a run which lasted for two weeks, the People's bank, at Ironwood, of which S. S. Curry, is president, suspended payments yesterday. The liabilities are placed at $82,000, but it Is said there are ample assets to pa ydollar for dollar. The suspension is directly due to the closing of another bank at Ironwood, a private institution owned by the late Fred Karste, of Cheboygan, Wis. The latter had deposits of $300,000. and its affairs are said to be in bad shape. It was only three years ago that the, First National bank of Ironwood failed, resulting in the president taking his own life, and the cashier going to prison.
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The last action by the receiver of the defunct. First National Bank of Ironwood before a final settlement is made was the sale Wednesday of the left-over securities of the bank. The sale was held at the Curry hotel with Tim Kileen as auctioneer. Attorney H. M. Humphrey was the successful bidder for the notes, stock certificates, etc., all of which were sold in a lump for a little less than five hundred dollars. Most of the office paraphernalia was purchased by Harry Barr.