German Savings Bank (Omaha, NE)

Episode Information

Episode UID
4199589891159
Episode Type
Suspension โ†’ Closure
Bank Type
savings
Bank ID
419958989 hash
Start Date
July 9, 1896
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d2f1398471968278

Response Measures

None

Events (5)

1. July 9, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors on July 9, 1896 (insolvency/closure of the institution)
Newspaper Excerpt
On July 9 the German Savings bank closed its doors
Source
newspapers
2. July 23, 1896 Receivership
Newspaper Excerpt
Judge Keyser this morning appointed Thomas McKague receiver for the German Savings Bank with bonds fixed at $60,000.
Source
newspapers
3. December 29, 1898 Other
Newspaper Excerpt
Receiver McCague Disposes of the Tax Certificates Held by the German Savings Bank; certificates sold for $2,100.
Source
newspapers
4. March 1, 1899 Other
Newspaper Excerpt
Receiver Thomas McCague ... tabulation of the real estate assets preparatory to the sale, which will occur March 1.
Source
newspapers
5. February 10, 1902 Other
Newspaper Excerpt
Chief Justice Sullivan has issued an injunction against the receiver and legal representatives of the defunct German Savings bank of Omaha.
Source
newspapers

Newspaper Articles (16)

Article from Omaha Daily Bee, July 19, 1896

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REST FROM HIS TROUBLES nton Ziskousky Found Dead in Bed Yesterday Morning. HAD SHOT HIMSELF DURING THE NIGHT Financial Troubles and the Remembrances of the Logan Wreck Attributed as the Cause of a Suicide. A shot from a revolver fired by his own hand some time last night killed Anton Ziskousky, a Bohemian, living at 1457 South Fourteenth street. The shot was unheard and therefore it was not until 10 o'clock yesterday morning that Ziskousky was found dead in bed. At that hour a caller visited the house and asked for Ziskousky. The latter's son, also named Anton, went to his father's bedroom to call him. In a few moments he ran back to the door, crying: "My father is so pale and so cold." Two stepdaughters ran into the bedroom and found Ziskousky lying in bed upon bedclothing that was soaked with blood. Upon his undershirt on the breast was a huge bloodstain. An examination speedily disclosed the fact that the man had shot himself through the heart and was dead. The coroner was at once summoned. Insanity is believed to have been the cause that drove the deceased to the act of selfdestruction. During a week back he had acted and spoken strangely. Two causes are assigned for the mental condition. One is the failure of the German Savings bank, in which Ziskousky had some of his own money and other money which was in his care as the treasurer of a secret society. His mind was also worked up DY the Logan wreck. He attended the picnic of the Pioneers and was on the train when the terrible disaster occurred. Some of the killed and injured were his friends. The subject of the accident appeared to have been continually upon his mind, and on account of that he has not worked for a week past. "I cannot sleep," he told his children, "Whenever I lie down I see that terrible sight." The failure of the savings bank, however, seemed to have the most effect, upon his mind. His papers were covered with figures and statements. Upon one leaf of his book he bids a simple farewell to his wife. The rest of the epistle is a statement of the moneys he has in banks. The words are indefinite and badly written. He came home Friday night at 10:30 o'clock, after an absence of two days. He made few answers to the questions put to him by his children and these were foreign to the questions asked. He asked for paper, and, after scribbling a few lines, abruptly ordered the light out out and retired to bed. One of his daughters did not go to sleep until after midnight and heard no shot. At 8 o'clock the son arose, found his father's bedroom door slightly open, closed it and- quietly set about the housework in order not to disturb him. At 10 o'clock the visitor came and the suicide was discovered. After an examination of the body the coroner came to the conclusion that the man had been dead five or six hours. His body was not yet cold. He therefore probably killed himself in the early morning. The revolver with which the deed was committed was an old one and had not been seen by the children before. Four shells were empty, but three of these showed that they had been fired some time ago. Ziskousky was one of the early Bohemian settlers of the city, having lived here for years. He was a cabinet maker in the Union Pacific shops. He was reputed to be fairly well off. He was a member of the


Article from The San Francisco Call, July 24, 1896

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Receiver for a Bank, OMAHA, NEBR., July 23. - Judge Keyser this morning appointed Thomas McKague receiver for the German Savings Bank with bonds fixed at $60,000. The court instructed the receiver to make diligent effort to pay the liabilities with the assets on hand, and if after a reasonable length of time he found this could not be done, the court would order suit to be brought against the stockholders for the amount due the depositors. It is believed by the State Bank Examiner that the assets would more than cover the liabilities.


Article from The Evening Times, July 24, 1896

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Bank Receiver Appointed. Omaha, Neb,, July 24.-Judge Keysor yesterday appointed Thomas H. McCague as receiver for the German Savings Bank, with bond fixed at $60,000. It is believed by the State bank examiner that the assets will more than cover the liabilities.


Article from Omaha Daily Bee, October 6, 1896

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to the public. The plan IS to building suitable for the use of all wor organizations. The discussion of this plan will be t at the next regular meeting two V rom yesterday. Mrs. Hoobler, chairman of the comm provide a program for a public me nown as "Gentlemen's night" reported seemed best to postpone further arra nents until "after election." On behalf of the committee upon r Hoobler stated that the arrangen vere perfected for retaining the roon ast year for department meetings, but of Creighton theater could be sed or the public meetings if the club des vote 1: was decided to hold the neeting in that place as a test of the As the head of the piano committee Lindsay asked the secretary to report iction of the directory upon this sul The secretary announced the direct recommendation that a piano be purch or the use of the club, and the name he committee appointed by it. Mrs. 1 ay then gave her report. The club vot make this committee's action its own. impowered it to purchase a suitable I or the club. Mrs. Ford again rose to explain the he musical department desired to do ear pursuing the Derthich method musical literature course. Club men lesiring to avail themselves of the c vere asked to pay $1, although no f compulsory. To those outside the club course is $2.00. The president then asked Mrs. Keys present the case of the Federation lib The story briefly told is this: The 1 this. the traveling library, the pro the Nebraska State Federation, amou about $220. About one-half of this spent in books and the remai $111.89, was deposited in the German Sa bank. The suspension of that instit rendered the library committee helple his. the time of year when the small nost need help, thus withdrawing aid when the struggling clubs had learne lepend upon getting it. Mrs. Keysor earnest plea to the club to advance ibrary the money which it now needed take possession of the receiver's certif Mrs. Peattie, who is chairman of th brary committee. said she thought suc upon the club's part would be of value than the annual donation. The matter was put to a vote and car there being but one dissenting voice. Omaha Women's club will thus make the women of the state the whole an of money entrusted by Omaha women Omaha bank. Those must interested be one of the most public spirited of club's many good deeds Mrs. Draper Smith was chosen to I the club at the State Federation at Fremont. September 8 and 9, Mrs. McGilton and Mrs. H. S. Jaynes a ternates. Then came, in some respects, the mo teresting discussion of the afternoon hour of meeting. Many of the house seriously object to the time of 3:30 to makes them late to dinner. On the hand now that school holds until 4 o' the old hour of 3 o'clock would shut ou teachers altogether. So the relative lectual needs of teachers and housek were aired, and there were several su tions as to how other people's bus might be managed to fit this emerg is estimated that there are fifty tea in the club when the motion by Mrs. drews, "that we return to our old tin b'clock" was put, a rising vote was : for by the chair. after which it was nounced that the present hour 3:30 won. Mrs. Galloway, president of the Eau ( Wis., Women's club, the guest of Mrs. Jaynes, who had occupied a seat at president's right, was introduced and an address which was all too short. F ring in a happy vein to the ambition o club to play hostess to the National f in 1898, she said she should lay all scruples and pull every possible that she might be a delegate. Mrs. Baldwin and Mrs. Hungerford presented the club with a piece of exq hand-embroidered linen. These will after shine at all tea-drinkings. Mrs. Peattie then read her address, \ was at once a greeting and a farewel was, in sentiment, in grace, in all, all


Article from The Salt Lake Herald, January 3, 1897

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Omaha, Jan. 2.-The Omaha Savings bank, the oldest savings bank in the city, and the principal of the two savings banks left in Omaha, closed this morning. Ex-Senator Manderson, president of the bank, has made the following statement concerning the affairs of the institution. In the fall of 1893. we had about $1,000,000 in deposit which grew until July 9, 1896, when there were $1,360,000 in deposits. On July 9, the German Savings bank closed its doors and a steady and constant drain was made upon our bank, so our deposits have shrunk to $750,000. showing that we have paid out about $610,000 in a little over five months. The bank owes to depositors $750,000 and to banks $140,000. making a total loss of $190,000. Taking the real estate at cost and our real estate and other securities at face value, we have nearly $200,000 of assets beyond our liabilities. While the bank is unable at this time to pay its depositors on demand, it is amply solvent; and while it will take some time to realize on the assets not a dollar will be lost to any creditor or depositor in the-bank. In addition to the $1,100,000 of assets with which to pay depositors, there is also the double liability on the stockholders, which will swell the amount to at least $1,200,000. General Manderson also said that an effort would be made by the directors to give a suitable bond to the state banking board for the protection of the depositors which would enable them to put in their own receiver to wind up the business, as this could be done more economically than by an outsider appointed by the board.


Article from The Salt Lake Herald, January 3, 1897

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Omaha, Jan. 2.-The Omaha Savings bank, the oldest savings bank in the city, and the principal of the two savings banks left in Omaha, closed this morning. Ex-Senator Manderson, president of the bank, has made the following statement concerning the affairs of the institution. In the fall of 1893, we had about $1,000,000 in deposit which grew until July 9, 1896, when there were $1,360,000 in deposits. On July 9, the German Savings bank closed its doors and a steady and constant drain was made upon our bank, SO our deposits have shrunk to $750,000, showing that we have paid out about $610,000 in a little over five months. The bank owes to depositors $750,000 and to banks $140,000, making a total loss of $190,000. Taking the real estate at cost and our real estate and other securities at face value, we have nearly $200,000 of assets beyond our liabilities. While the bank is unable at this time to pay its depositors on demand, it is amply solvent; and while it will take some time to realize on the assets not a dollar will be lost to any creditor or depositor in the bank. In addition to the $1,100,000 of assets with which to pay depositors, there is also the double liability on the stockholders, which will swell the amount to at least $1,200,000. General Manderson also said that an effort would be made by the directors to give a suitable bond to the state banking board for the protection of the depositors which would enable them to put in their own receiver to wind up the business, as this could be done more economically than by an outsider appointed by the board.


Article from The San Francisco Call, January 3, 1897

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TWO FRESH FAILURES. The Omaha Savings Bank Forced to Close Its Doors. OMAHA, NEBR., Jan. 2.-The Omaha Savings Bank, the oldest savings bank in the city and the principal of the two savings banks left in Omaha. closed this morning. Ex-Senator Manderson, president of the bank, has made the following statement concerning the affairs of the institution: "In the fall of 1893 we had about $1,000,000 in deposits, which grew until January, 1896, when there were $1,360,000 in deposits. "On July 9 the German Savings Bank closed its doors and a steady and constant drain was made upon our bank, so our deposits have shrunk to $750,600, showing that we have paid out about $610,000 in a little over five months. The bank owes to depositors $750,000 and to banks $140,000, making the total liabilities $890,000. Taking the real estate at cost and our real estate and other securities at face value, we have nearly $200,000 of assets beyond our liabilities. While the bank is unable at this time to pay its depositors on demand it is amply solvent, and while it will take some time to realize on the assets not a dollar will be lost to any creditor or depositor in the bank. In addition to the $1,100,000 of assets with which to pay depositors there is also the double liability on the stock holders. which will swell the amount to at least $1,200,000." General Anderson also said that an effort would be made by the directors to give a suitable bond to the State Banking Board for the protection of depositors which would enable them to put in their own receiver. This could be done more economically than by an outsider appointed by the board. WHITEHALL MICH., Jan. 2.-Bank Examiner Angell this morning closed the Whitehall Savings Bank. Much excitement prevails. The last report shows $80,000 in deposits, $2000 on hand and loans and discounts $92,000. The officials have made no statement.


Article from Barton County Democrat, March 17, 1898

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TRADE SUFFERING The Present Fears of a Crisis Having a Bad Effect on Chicago. FOR A LAFAYETTE STATUE A Christian Corps for Carrying the Gospel to Wheelmen Who Take Sunday Trips -Bank Directors Liable-Initistive and Referendum. CHICAGO, March 13.-Marshall Field & Co., of this city, have issued orders to their buyers to refrain from purchasing or ordering goods in large quantities during the present national erisis, and that they shall buy only in such quantities as their trade demands. Similar orders have been given others by mercantile houses in this city. Col. Henry L. Turner, a prominent business man of this city, and commander of the First infantry, Illinois national guard, said that the business interests of the city were becoming paralyzed because of the uncertainties of the situation. He is also authority for the statement that many of the small interior banks throughout the northwest are withdrawing their deposits from the iity banks. Otherwise money is easy, the crisis being felt only in ordinary business. For a Lafayette Statue. CHICAGO, March 13.-Ferdinand W. Peck and Robert J. Thompson, of this city, have been in Washington for the last two weeks, lobbying actively to get resolutions through the house and senate providing for the appointment of a national commission to bring about the presentation of a statue of Lafayette to the French nation at the time of the Paris exposition in 1900. The cost is to be defraved by public contributions on the part of school children of the United States. a penny a child. President McKinley, it is understood, has approved the plan, the senate has passed a resolution providing for a national commission and a similar motion is before the house. To Christianize Wheelmen. NEW YORK, March 13.-Some of the bicycle riders of Jersey City are about to organize a Christian corps. The following communication has been sent to the church societies of Jersey City: It is desirable that your representative body aid in bringing together the Christian bicycle riders of Jersey City with a view to the ultimate organization of a gospel bicycle corps for active work in carrying the gospel of Christ to those thousands of riders who seem to prefer the forest and green fields to the church pews on the Sabbath during the summer. It is to be hoped that in time enough companies will be organized with which to form a regiment. Bank Directors Liable. OMAHA. Neb., March 13.-The district court here has decided that the directors of a bank are personally liable for deposits made within 30 days of the closing of their bank. The case in point was that of Theodore Woolstein, who deposited $3,000 in the German Savings bank, of Omaha. which closed shortly afterward. This decision makes a large number of wealthy Nebraskans responsible for losses sustained by depositors in state banks. The Initiative and Referendum. TOPEKA, Kan., March 13.4-The Topeka advocates of the initiative and referendum have organized a direct legislation league under the direction of Eltweed Pomeroy, of New Jersey, president of the National Direct Legislation league. The league will endeavor to persuade the city council of Topeka to experiment with the initiative and referendum in the passage of ordinances.


Article from Omaha Daily Bee, December 29, 1898

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SELLS THEM ALL IN A BUNCH Receiver McCague Disposes of the Tax Certificates Held by the German Savings Bank. Receiver McCague of the German Savings bank has concluded the sale of tax certificatos which formed a portion of the assets of that institution when It closed its doors some years ago. The face value of the certificates aggregated about $20,000 and they sold for $2,100. the purchaser being Charles Bartelle. The certificates were sold singly and then in bulk. As they brought more in bulk this method of disposing of them was decided upon. Nearly all of the certificates are considered practically worthless, many of them being against rablroad property. With reference to these, 1t has been held that the state board and not the county commissioners should make the levy. They were sold to satisfy a tax levied by the county commissioners.


Article from Omaha Daily Bee, January 17, 1899

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Lists of the Real Estate. Receiver Thomas McCague of the German Savings bank has begun the tabulation of the real estate assets of the Institution preparatory to the sale, which will occur March 1, as directed by the district court. Mr. McCague said yesterday it will be a week or ten days before the list of real estate can be prepared, as there are a large


Article from The Topeka State Journal, January 27, 1899

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R. K CUSHING BANKRUPT. Failure of a Western Contractor-C. J. Lantry a Creditor. Chicago, Jan. 27.-Richard C. Cushing, a contractor, today filed a petition in liabilities bankruptcy, scheduling amounting to $328,245. His assets are placed at $39,000. The petitioner was a member of the Mallory-Cushing Contracting company of Omaha. Some of the largest creditors are: C. J. Lantry, a brother-in-law of Mr. Cushing, Strong City, Kan., $47,000; Charles Parmalee, receiver of the Citizens' bank, Plattsmouth, Neb., $10,000; T. A. McGague, receiver of the German Savings bank of Omaha, $30,000. The property which is included in the assets of the petitioner is situated in Omaha, San Antonio, Tex., Kerin county, California, and Scott county, Nebraska. The largest secured creditor is the Nebraska National bank of Omaha, $63,000.


Article from Arizona Weekly Journal-Miner, February 1, 1899

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Richard c. Cushing Fails. Richard C. Cusbing will be well remembered by citizens of Prescott and vicinity as having been engaged in mining operations here a few years ago. A Chicago telegram of January 26, says: Richard C. Cushing, a contractor, today filed a petition in bankruptcy scheduling liabilities amounting to $328,245. His assets are placed at $39,000. The petitioner was a member of the Mallory-Cushing Contracting Company of Omaba. Some of the largest creditors are: Chas. J. Lantry, Strong City, Kan., $47,000; Chas. Parmalee, receiver of the Citizens Bank, Platts mouth, Neb., $10,000; T. A. McGauge, receiver of the German Savings bank of Omaha, $30,000. The property which is included in the assets of the petitioner is situated in Omaha, San Antonio, Texas, Kern county, Cal., and Scott county Neb. The largest secured creditor is the Nebraska National Bank of Omaha, $63,000.


Article from Decorah Public Opinion, February 1, 1899

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Contractor Cushing Bankrupt. CHICAGO, Jan. 27.-Richard C. Cushing, a contractor, yesterday filed a petition in bankruptcy. scheduling liabilities amounting to $328,245. His assets are placed at $39,000. The petitioner was a member of the Mallory-Cushing Construction company of Omaha. Some of the largest creditors are: C. J. Lantry, Strong City, Kan., $47,000; Charles Parmalee, receiver of the Citizens' bank, Plattsmouth, Neb., $10,000; T. A. McCague, receiver of the German Savings bank, Omaha, $30,000; estate of D. J. Thayer, Chariton, Ia., $15,000; First National bank, Chariton, $15,000; S. H. Mallory, Chariton, $20,000.


Article from Omaha Daily Bee, March 7, 1899

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McCague Files His Report. Receiver Thomas H. McCague of the German Savings bank has filed his report of the sale of the personal assets of the bank on March 1 and 2. He states that fully 25 per cent of the actual value was realized and that the proceeds were satisfactory, except the sale of the C. J. Karbach note and judgment for $670 to the Omaha Mercantile company. This judgment is for $2,797 and the note for $5,000. The reason given for the rather low figure is that Karbach claims a set-off in a suit pending in the district court. The tax liens were bought up in bulk by Charles Battelle for $3,300, the bids numbering 218 altogeiber.


Article from Omaha Daily Bee, February 11, 1902

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BENEFITS OMAHA DEPOSITORS Chief Justice Sullivan Issues Injunce tion Against Compromise of German Savings Bank Claims. (From a Staff Correspondent.) LINCOLN, Feb. 10.-(Special Telegrams) Chief Justice Sullivan has issued an injunction against the receiver and legal representatives of the defunct German Savings bank of Omaha, restraining them from enforcing, or attempting to enforce, a decree of the Douglas county district court approving a compromise made by the receiver with certain stockholders. This restraint shall exist until the supreme court can investigate. The case has already been appealed. The injunction was issued on the application of Grant S. Cobb, one of the depositors and creditors of the institution.


Article from Omaha Daily Bee, September 6, 1911

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Ten Years AgoThe city was crazed with excitement over the news that President McKinley had been assassinated at Buffalo. The Bee beat all the other papers out with its extra announcing the calamity. George Baird and B. McCaffrey, socialist speakers, were arrested for blocking the streets with crowds listening to their harrangues. Senator W. A. Clark of Montana was in Omaha and on hearing the news of the president's assassination said: "The man was shot. They muzzle dogs when they begin to snap around and become threatening and it is deemed wise to do so. How much more essential that they should render harmless people of the same vicious or insane natures? Should President McKinley die the enormity of the loss to all civilization could not be overestimated or exaggerated." George Kleffner resigned as president of the Central Labor union, as the alternative of resigning his job as letter carrier, the option having been given him from Washington. City Prosecutor B. F. Thomas returned from Louisville, Ky., where he attended the triennial conclave of the Knights Templar. Thomas H. McCague, receiver of the German Savings bank, has filed in the district court a special report, complaining that Sarah J. Dewey, Henry Lehmann, Peter Birkhauser and Charles S. Avery refused to comply with the order of court requiring stockholders to pay in to the receiver $80 a share.