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A TACOMA BANK FAILS The Commercial Asks Appointment of a Receiver. IT WILL GO OUT OF BUSINESS. The Crash Precipitated by a Demand for the City Money. Since the Bank of Tacoma Failed There Had Been Steady Withdrawals-The Columbia National and GermanAmerican Deny That the City Has Money on Deposit and Refuse to Pay Checks.
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It Hahn't the Cash. TACOMA, Wash., Oct. 17.-The city of Tacoma applied to the courts today for the appointment of a receiver for the German-American bank, which failed to honor a demand for city money on deposit.
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Bank Receiver appotated. TACOMA, Wash.. Oct. 19,-ON pet!don today, Judge Parker appointed S. R. Balkwill receiver of the GermanAmerican bank. The bank bad declined to pay the city $68,000, the amount of its deposit, claiming that warrants which were Invalid and not cash had been deposited.
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A Bank Receiver. Tacoma, Oct. 19.-On petition of the city of Tacoma, Judge Parker, of the supreme court, today appointed S. R. Balkwill receiver of the German American bank. The bank declined to pay the city $58,000 amount of its deposit, claiming warrants and not cash was deposited.
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DECLINES TO PAY. Tacoma's City Depository Claims Warrants Are of No Value. Tacoma. Wash., Oct. 21.-On petition of the city of Tacoma, Judge Parker. of the Superior Court, appointed S. R. Balkwill receiver of the German-American Bank Saturday. The bank has declined to pay the city $58,000, the amount of its deposits, claiming the warrants were invalid and not enough cash had been deposited with the bank.
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Of the German-American Savings Bank, Tacoma. THE CASH AND BOOKS GONE All Money and Valuable Papers Removed to Columbia National. President Allen Adjudged in Contempt of Court for Secreting the Bank of Tacoma's Books - City of Tacoma Sues Nelson Bennett for Money He Borrowed From Boggs. Tacoma, Oct. 22.-Special.-Receiver S. and secured Safe R. Balkwill, Deposit of the Savings German-American Bank, partial possession of his trust this morning. and the bank's doors were closed. The case came up before Judge E. N. Parker at 10 o'clock this morning, the hour set for the hearing of the city's exceptions to the stay bond of $60,000, put up by the bank. At that hour Mr. Balkwill, his attorney, Frederick A. Brown, and Assistant City Attorney Gibbs, were present. None of the bank's bondsmen were in court to justify under oath and the court forthwith declared it void. The attorney for the bank presented a new bond with three additional sureties, but the court peremptorily rejected this bond, and ordered the receiver to take possession of the bank. When the receiver, accompanied by his attorney, the assistant city attorney and Chief of Police Smith, arrived at the bank they were met by Attorney Hammond, of the bank, and Secretary Weisbach. Possession was refused, but the receiver entered the wicket gate near the cashier's desk and formally announced that he was in charge. The officials of the bank thereupon withdrew. taking with them the cash, books and letter books of the bank. These were deposited in the vaults of the Columbia National, which occupies the next room to the savings bank. Receiver Balkwill this afternoon reported to the court that he had secured $1.10 and no more of the bank's assets, and none of the securities or books. He applied for an order to the Columbia National for them to turn over the cash and books. Thus the matter stands. The bank has filed an objection to the order, rejecting the stay bond and that ordering the recelver to take possession. Its attorneys claim that under the statute they should have been allowed not less than three days in which to have their sureties justify. They claim further that only sixtysix hours had elapsed since the city's exception to the bond was filed. The attorneys also set up that under the statute, if the bond is rejected. they have the rigt to file another bond, which must be proceeded against in the same manner as the first. On this ground the bank's attorneys have advised its officers to resist the receiver. This afternoon additional counsel in the firm of Crowley, Sullivan & Grosscup, was retained, and certified copies in the record of the case were obtained from the county clerk. Tomorrow the attorneys will apply to the supreme court for a writ of prohibition, restraining the receiver from interfering with the business of the bank until the appeal is decided.
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THE BOOKS TURNED OVER. But the German-American Receiver Has Only $1.10 in Cash. Tacoma, Oct. 24.-Special.-The scene of the fight between the German-American bank and Receiver Balkwill has been transferred to the supreme court at Olympia. The case comes up at 1 o'clock today on an order to show cause why an alternative writ of prohibition should not issue. On the advice of counsel, the officers of the bank today turned over to the receiver the books and securities in the vaults of the Columbia National bank. The recelver has not yet secured any additional cash.
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A RECEIVER PUT IN A TACOMA BANK German-American Cashier Refused to Pay Money Deposited by the City, Tacoma, Wash., Oct. 19.-On petition of the city today Judge Parker appointed S. R. Salkwill receiver of the German American bank. The bank has declined to pay the city $68,000, the amount of its deposit, claiming warrants which were invalid and not cash had been deposited.
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Receiver for a Tacoma Bank. Tacoma, Wash.. Oct. 22.-On petition to-day Judge Parker, of the superior court, appointed S. R. Balkwell receiver of the German-American bank. The bank had declined to pay the city $58,000, the amount of the deposit, claiming that warrants which were invalid and not cash had been deposited with the bank
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GIVEN BACK TO THE BANK AGAIN Control of the German-American Taken From Receivers. Olympia, Wash., Oct. 28.-The supreme court today rendered a decision which takes the German American bank of Tacoma out of the hands of the receivers, and turns it over to the owners, pending the hearing by the supreme court of the appeal taken by the bank from the decision of the Pierco county court appointing the receivers.
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Brief Tacoma News. Tacoma, April 9.-Special.-Receiver S. R. Balkwill, of the German-American Savings bank, has brought suit against Receiver Clary, of the Columbia National, claiming the ownership of $4,500 of street improvement certificates. The certificates were deposited with the national bank before the failure of the savings bank last October. Counsel James M. Ashton, of the Northern Pacific, returned home today from Spokane, where he attended the Federal court.
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Brief Tacoma News. Tacoma, April 17.-Special.-Judgment by default has been entered against ex-Treasurer McCauley in a suit brought by Receiver Balkwill, of the German-American Savings bank. The money was charged on the books as overdrafts.