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AETNA BANK IS INSOLVENT (Scripps Telegraph Service.) WASHINGTON D. C., Oct. 19.The Aetna Banking & Trust company. of this city, and a branch of the same named company at Butte, Mont., were today closed by the comptroller of the currency, and Robert Lyons appointed receiver. National Bank Examiner Saxe's examination showed the branch to be Insolvent.
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BUTTE BANK IN TROUBLE (Scripps News Association.) WASHINGTON, Oct. 19.-The Aetna Banking & Trust company, of this city, and a branch of the same company at Butte, Mont., weer today closed by the comp= troller of currency. Robert Lyons was appointed receiver. The national bank examiner says examination showed the branch insolvent when last reported.
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AETNA BANK CLOSES DOORS PENDING PROBE (Continued from First Page.) and Receiver Lyon in studying out the condition of affairs. He said: "The Aetna Banking and Trust Company of Butte is a good bank, and I have confidence that it will provide the means to settle all claims in Washington and continue the institution," "Then you expect the bank will reopen?" "That is my expectation. I have wired to Butte the facts about the situation here. and am awaiting advices." The depositors in the local institution were composed largely of department people, though it is stated that some business men also carried accounts with them. The only connections held locally were with the Commercial National Bank, in which small amounts were placed on deposit, and at the present time that bank held about $1,500 of the savings bank's money. The Commereial did not clear for it, but simply took deposits. The notice on the door this morning stating that the bank had been closed by order of the Comptroller attracted but little attention.
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BUTTE BANK NOT OPENED. Butte, Oct. 20.-In accordance with the announcement of Cashier Garside last night, the Aetna bank of Butte did not open for business this morning. The suspension is in consequence of the failure of the Aetna Banking and Trust company of Washington, a branch of the 10. cal concern. There was no demonstration today and the bank management said It had no further statement to make at present.
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BANK'S AFFAIRS TANGLED. Treasury Officials Unable to Ascertain Real Condition of Aetna. Little of interest developed yesterday in connection with the suspension of the Washington branch of the Aetna Banking and Trust Company. Deputy Comptroller Kane said the books, or rather the accounts, of the bank were in a tangled condition, so that the Treasury officials and the receiver were experiencing great difficulty in getting at the condition of affairs. He said there were no real book accounts, the entries being kept on cards and slips. Some of these seem to be missing, and the accountants are unable to trace some of the depositors' accounts. Yesterday the news was confirmed that the parent bank at Butte, Mont., had closed its doors. Few of the depositors appeared at the bank building yesterday, and these few were poor people, mostly colored men and women, who had deposited slender savings there, because of the high rate of interest offered.
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WARRANT NOT SERVED Cashier of Aetna Bank Refunds Money to His Late Depositors. BUTTE, Mont., Oct. 20 -A warrant for the arrest of F. E. Garside, cashier of the Aetna bank, which closed its doors yesterday under orders of the acting comptroller of the currency, was issued this afternood on the instance of a lady depositor who had deposited ten dollars in the defunct institution shortly before it closed. The warrant was not served. however, as the lady, with all others who had deposited money with the Aetna yesterday, were refunded their money. Cashier Garside showed to the officers that the depositors of yesterday had not been entered on the books of the bank, but were placed in envelopes and deposited in the vaults, as though they were aware of the straightened condition of the bank, and official orders closing the Butte institution had not yet been received from Washington. Rather than precipitate a run, and excite the people it was decided by Cashier Garside to accept deposits and lay them aside for the depositors, as was done. The closing of the bank hardly caused a ripple of excitement in the city, business conditions remaining as usual.
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TROUBLES OF BUTTE BANK Warrant Issued for Cashier Garside of the Aetna, Which Was Not Served. Butte, Mont., Oct. 20.-A warrant for the arrest of F. E. Garside, cashier of the Aetna bank, which closed its doors yesterday under orders of the acting comptroller of the currency, was issued this afternoon on the instance of a lady depositor, who had deposited $10 in the defunct institution shortly before it closed. The warrant was not served, however, as the lady. with all others who had deposited money with the Aetna yesterday, were refunded their money. Cashier Garside showed to the officers that the deposits of yesterday had not been entered on the books of the bank, but were placed in envelopes and deposited in the vaults, as though they were aware of the straightened condition of the bank, and official orders closing the Butte institution had not yet been received from Washington. Rather than precipitate a run, and excite the people it was decided by Cashier Garside to accept deposits and lay them aside for the depositors, as was done. The closing of the Aetna hardly caused a ripple of excitement in the city, business conditions remaining as usual.
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BUTTE BANK FAILURE. Aetna Company Has "Nominal' Assets of $461,526.06. Butte, Oct. 26.-Eugene T. Wilson, bank examiner in charge of the Aetna Banking & Trust company, which closed its doors last week, issued a statement to the comptroller today in which the liabilities of the concern are given as $185.828.32 and the nominal assets as $461,526.06. Many of the assets are of a doubtful character. Mr. Wilson was today appointed receiver of the bank. but he believes that the appointment is only temporary, as the press of his other engagements would prevent him from acting
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BUTTE BANK IN POOR SHAPE WASHINGTON, D. C., Nov. 17.Reports to the comptroller show that depositors and creditors of the Aetna Banking & Trust Co., of this city and Butte will receive about 32 cents at the Butte office. Out of over $400,000 assets, over 200,000 is declared worthless by the receiver. Nearly 150,000 is doubtful. The total liability is placed at $479,000.
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(Continued on page 10.) Thirty-Two Cents on Dollar. Washington, Nov. 17.-Reports to the comptroller show that the depositors and creditors of the Aetna Banking & Trust company of this city and Butte will receive about 32 cents on the dollar. At the Butte office out of over $400,000 assets over $200,000 are declared worthless by the receiver, and nearly $150,000 are doubtful. The total liability is placed at $479,000.
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BANK RECEIVER RELIEVED. Butte, Mont., Nov. 26.-Receiver Wilson of the Aetna Banking & Trust company has received word from the comptroller of the currency at Washington that his request to be relieved from duty here had been granted and that Theodore G. Risley of Mount Carmel, III., had been appointed as his successor.
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RELIEVED FROM DUTY. BUTTE, Mont., Nov. 29.-Receiver Wilson of the Aetna Banking & Trust company has received word from the comptroller of the currency at Washington that his request to be relieved from duty here had been granted and that Theodore G. Risley of Mount Carmel, III., had been appointed as his successor.
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HEINZE HELPS WRECKED BANK Sends Check for $100,000 to Reimburse Depositors Butte, Mont.-Receiver Wilson of the Aetna bank of Butte announced that he had receive a check for $100,000 from Augustus Heinze, formerly president of the bank. Heinze believed that many depositors had not known of his withdrawal, so he made the contribution. It should increase the bank's assets 30 per cent. (Plat)
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DECLARES A DIVIDEND. Payment for Creditors of Aetna Banking and Trust Company. The controller has declared a dividend of 20 per cent to all the creditors of the Aetna Banking and Trust Company at Butte, Mont., and Washington, D. C. It will require about four weeks to prepare for payment. The creditors will be notified the latter part of January when the dividend will be paid by the receiver. It was decided by the controller that the creditors of both institutions were on an equal footing, and that the amount received from the various assets of the banks here and in Montana should be pooled and the dividend made equal to all. The Aetna Banking and Trust Company's branch in Washington was subjected to the examination required under the laws of Congress last October. A bank examiner from the Treasury Department found the Washington branch carrying worthless securities upon its books, and closed the doors of the bank here on October 9. The same day the bank in Butte closed its doors, upon receipt of the news from Washington.
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NORTHWEST After being closed for coinage poses for more than twelve years, United States mint at Carson Nevada, may be reopened within next few months. Negotiations between the unions of Butte and the Rocky tain Bell Telephone company are parently off, the situation indicating struggle to a finish. The break in the transmission wire of the Nevada Power company, whic threw Goldfield into darkness, which was charged to the strikin miners, it now develops was by a snowslide. General Funston has ordered a eral courtmartial to convene at field. This order would indicate, army men, that the troops now on at that place would be held there some time to come. Judge Bourquin of the state distric court at Butte instructed the jury acquit A. B. Clements, cashier of failed Aetna bank, on a felony charg growing out of the alleged receipt deposits when he knew the bank insolvent. A dispatch from Denver says tha James R. Barber and Summer Moon. the millionaire lumbermen Eau Claire, Wis., indicted with ator Borah for alleged conspiracy land frauds, may be taken to for trial. Colonel William Crooks, assistan to the general manager of the man lines in the Pacific northwes died in Portland on the 17th of plications growing out of a cold tracted about six weeks ago. He 76 years old. The supreme court of Montana granted a writ of habeas corpus the case of G. S. E. Wisner, an conda bank employee, who had convicted on the charge of receivin deposits when he knew his principa to be insolvent. The Smelter City bank of Durange Colo., a state institution, capital 000, has closed its doors. Lack of fidence, due, it is said, to the indic ments of prominent citizens on charges of land frauds under the eral laws, led to the suspension. O. C. Dallas, chief clerk, and J. McLeod, at the head of the survey partment in the office of United State surveyor general in Helena, have arrested. The indictment alleges fo gery and conspiracy to defraud government of the United States. The state board of pardons of tana has approved the action of ernor Tooele in granting a pardon Elizabeth Morrison, a Butte woman who, upon conviction on a slaughter charge for the killing Richard Finnegan, had been tenced to the penitentiary for thre years. The Hamilton Powder company works blew up Sunday morning at parture Bay, B. C. The loss is $40,00 No one was killed or injured. In couver, thirty-five miles away, house were shaken SO badly that it was lieved an earthquake had occurred many persons rushed to the street
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SUIT AGAINST HEINZE ORDERED BUTTE, Mont., Feb. 4.-By an order signed by Judge Lynch of the State District Court this morning, Robert M. Lyons, receiver in charge of the Aetna Bank, which failed in October, 1906, is directed to bring suit against F. Augustus Heinze, former director,, and A. B. Clements, former treasurer, for $97,000, held by Heinze in the bank, and which, it has developed, Heinze never paid for. In the recent trial of Clements for false certification, it developed that of the $100,000 worth of capital stock owned by Heinze, only $2500 of this was paid in, and that Clements took it himself and gave his note for it, shortly after the amount was received. Judge Lynch's order, authorizing suit for $97,000, directs that interest from the time of the issue of the stock was not paid for be included in the suit. The deal apepars to have been complicated. E. A. Heinze owned capital stock in the Aetna Savings and Trust Company, and when that went out of existence, deposits in lieu of cash this stock was exchanged for stock of the Aetna Banking and Trust Company, the concern now in the hands of a receiver.
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Suit Against Heinze. NEW YORK, May 8.-A suit to recover approximately $180,000 from F. Augustus Heinze :and A. B. Clements was begun in the supreme court here today by Robert Lyone, receiver of the Aetna Banking & Trust company of Butte. Mont. Heinze formerly was president and Clements manager of the institution. They are asked to account for $100,000 worth of stock, a credit of $37,770 and for another amount of 843,000.
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BUTTE CASHIER GONE BUTTE, July 29.-Bondsmen have withdrawn from A. B. Clements' surety, but the sheriff was unable to locate the former cashier of the Aetna bank. Clements was held in the sum of $12,500 on two criminal charges resulting from the bank failure and is also named as defendant in a suit started by the receiver to recover $400,000, the amount of shortage alleged to be responsible for the crash.
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NOT THE HEINZE WHO DISCOVERED PICKLES (UNITED PRESS LEARED WIRE.1 Butte, Mont., Dec. 28.-Alleging that F. Augustus Heinze, founder and chief officer of the defunct Aetna Banking and Trust company, secured possession of the bulk of its assets and that the bank was insolvent through fraudulnt practices, an amended complaint was filed today in the district court in the suit of Robert Lyons, receiver. Business was suspended in August, 1906. The assets of the company at that time, it is stated, did not exceed eight per cent of the liabilities, which totaled $400,000. Judgment is asked for $300,000, $100,000 having been
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SUIT AGAINST HEINZE IN MONTANA COURTS BUTTE Mont., Dec. 27.-In the district court today an amended complaint was filed in the suit of Robert Lyons, as receiver of the Aetna Banking & Trust company. against F. Augustus Heinze. It is alleged in the complaint that the defendant Heinze, as one of the founders and chief officers of the defunct banking institution, secured possession of the bulk of the assets, and It is alleged the bank was insolvent through alleged fraudulent practices at the time business was suspended in August, 1906. The lla bilities are stated at that time to have been in excess of $400,000 and the assets. exclusive of the double liability of the stockholders, did not exceed 8 per cent of the liabilities. It is stated that the $100,000 voluntarily paid to the bank by defendant Heinze was applied to the Indebtedness and that about $300,000 yet remains, for which a judgment is asked. The court is asked further to order that unless payment is made of the debts, losses and damages, defendant Heinze Is to be imprisoned until payment is made in accordance with the order of the court.
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Receiver Hit F. Aug. Heinze (By United Press Leased Wire.) BUTTE, Mont., Dec. 29.Charges that F. Augustus Heinze, of the defunct Aetna Banking & Trust Co., secured possesion of the bulk of the assets through fraudulent practices, were filed yesterday by Robert Lyons, receiver.