Article Text
, Missouri Bank Suspends. Springfield, Mo., Dec. 7.-The National Exchange bank, one of the largest banks in Springfield, did not open this morning. The notice "Closed by direction of the controller of the currency" was on the door. A
National Exchange Bank (Springfield, MO)
Episode Information
- Episode UID
508201308- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
50820national - Charter Number
- 5082
- Start Date
- December 7, 1908
- Location
- Springfield, Missouri (37.215, -93.298)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
a5827aecdf28bb98
Response Measures
None
Events (5)
1.
July 19, 1897
Chartered
- Source
- historical_nic
2.
December 7, 1908
Receivership
- Newspaper Excerpt
- Frank O. Hicks was appointed receiver by order of the Comptroller of the Currency.
- Source
- newspapers
3.
December 7, 1908
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank was insolvent principally from losses on loans and investments; closed by Comptroller's order.
- Newspaper Excerpt
- Closed by direction of the controller of the currency posted on the door.
- Source
- newspapers
4.
January 9, 1909
Reopening
- Newspaper Excerpt
- Comptroller approved plans for reorganization; Merchants' National Bank to take over and pay depositors dollar for dollar.
- Source
- newspapers
5.
March 10, 1909
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (14)
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From Washington. [Correspondence of the Alexandria Gasette. The national capital will entertain this week more distinguished men from all over the country than it ever has be fore in its bistory. Besides having Con gress on its hands, Washington will be the scene of four great conventions having for their general object the im provement and conservation of the coun try's natural resources. The Nationa Conservation Commission will mee with the governors of the states and territories; state conservation commis sions, and conservation committees o national organizations tomorrow morn ing; the National Rivers and Harbor Congress will meet Wednesday to discus the improvement of the waterways 0 the country; the National Council 0 Commerce will meet Thursday to dea with important questions affecting the commerce of the nation at home and abroad, and today, the Southern Com mercial Congress, an organization to do for the south what the trans-Mississipp Commercial Congress has done for the west, is holding its first meeting. The first formal meeting of the joint conser vation conference will be held tomorrow afternoon with President-elect Taft as presiding officer. President Roosevel is to make the opening address, and Judge Taft will follow. The Smithsoniau Institution issued the following statement today, with reference to President Roosevelt's South African hunting trip: "Mr. Roosevel pays all the expenses of himself and hi son Kermit, in connection with the pro posed trip, including outfiting and transportation. The expenses of three naturalists sentout from the Smithson ian Institution, will be paid by funds provided for the purpose no part of which is derived from any government appropriation, or from the income of the Smithsonian fund. Mr. Roosevelt will not receive one penny o the fund, for his own or his son's use and expenses, on the contrary, he make a gift to the government of specimen worth many thousands, and possibly o & that cannot be expressed. H will get nothing from the government the governments's share will be limited this receiving the gift." An argument in favor of retaining the present tariff on phonographs and musical instruments was made to the way and means committee today by Geo W. Pound, of Buffalo, representio half a dozen large manufacturers. Th present tariff is 45 per cent. Henry Alexander, a New York brush manu facturer, asked that bristles now paying a duty of 7 1-2cts. a pound, be placed or the free list. The new democratic leader, Cham Clark, was one of the early arrivals or the floor of the House, before the open ing today, receiving congratulations ove his election to the head of the minority Sereno Payne, republican leader moved about among the members. Congress man Nicholss Longworth was very busy baking hands with friends. Col "Pete" Hepburn, the Iowa veteran was most mourned of the defeated mem bers. Speaker Cannon was given a big demonstration when be entered the ball The National Exchange Bank o Springfield, Mo., was closed today by rder of Special Bank Examiner E. F Rorebeck, and Frank o. Hicks was ap nointed receiver. Capital $100,000 Surplus $1,049,000. Represenative Sherman, of New York vice-president elect, announced today after a call on the president that a con ference bai been agreed upon between President-elect Taft and Speaker Cannot to be held in Washington this week The definite day and hour had not ye been fixed. Recommendations for the readjust ment of postmasters' salaries; a reclass iflection of fourth class postoffices; ex tension of annual leave of postoffice em ployees from 15 to 30 days; abolishmen of the present bonding system of posts employees and inauguration of the in demnity fund as in the Canadian servic are 8 few of the striking points in th annual report of first assistant post moster General C. P. Grandfield, made public today. Appropriations aggregating $824, 408,948.01, will be necessary for vari ious branches of the government servic during the coming fiscal year, according to estimates of the departmental head sent to Congress today by the secretary of the treasury. Christopher C. Walters has been ap pointed postmaster at West End, Fair fax county, Va., vice G. H. Upperman removed. President Roosevelt announced today that he would deliver an address on Lin coln's birthday, February 12, at th celebration to be held at the Lincoln farm in Kentucky. Albert B. Cummins, of Iowa, wh will tomorrow succeed the late Senato Allison, was an early arrival in th lobby of the Senate, where he met number of friends. The Chicago city pure food ordinanc providing for condemnation of food found to be deleterious to the publi health, was upheld as constitutional to day by the U. S Supreme Court. Representative Townsend, of Michi gan, formally announced that he wa not a candidate for the speakership 0 the Sixty-first Congress. According to an announcement made by Secretary Cortelyou today, there wer 831 bids made for the $80,000,000 issu of Parama bonds, aggregating all told $102 808 800, Of these, 150 were ac cepted, the prices ranging from $102,
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Missouri Bank Closed. By United Press Leased Special Wire. WASHINGTON, Dec. 7.-The National Exchange Bank of Springleld, Mo., was closed today by order of Special Bank Examiner E. F. Rorebeck and Frank O. Hicks was appointed receiver, Capital $100,000; surplus $1,049,000.
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Cause of Suspension. Washington, Dec. 7.-It was stated at the office of the Comptroller of the Currency that the failure of the National Exchange Bank at Springfield, Mo., was due to the bank's insolvency caused principally by losses on loans and investments. In its report September 23, last, the bank had a surplus of $50,000 and deposits of $1,049,273. Rank Examiner Frank O. Hicks has been appointed receiver.
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NATIONAL BANK SUSPENDS. Notice Posted On Doors At Springfield, Missouri. Springfield, Mo., Dec. 7.-The National Exchange Bank. one of the largest financial institutions in this city, did not open its doors this morning. The following notice was posted on the doors: "This bank has been closed by direction of the Comptroller of the Currency.-E. T. Roreback, Examiner." The National Exchange Bank has a capital of $100.000. Its surplus and undivided profits, as shown in the last issue of the bank register, amounted to $75,000; deposits, $2,100,000; cash and notes due from other banks, $900,000; loans and discounts, about $1,000,000. The bank was established in 1893.
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BANK SUSPENSION Springfield, Mo., Dec. 7.-The National Exchange bank. one of the largest financial Institutions in Springfield, did not open its doors this morning. Notice that the bank had been closed by direction of the comptroller of the currency was posted on the doors.
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TWICE-A-WEEK PLAIN DEALER TUESDAY, DEC. 15, 1908 BY MEAD PUBLISHING CO. Off cial Paper of City and Con 11 BIG MISSOURI BANK SHUTS ASSETS EXCEED LIABILITIES AT SPRINGFIELD, MO. National Exchange Institution Closes Doors, But Not a Dollar will Be Lost, it 18 Said. Springfield, Mo., Dec. 8.-The Na. tional Exchange bank, one of the largest financial institutions in this city, did not open its doors Monday. The following notice was posted on the doors: "This bank has been closed by direction of the comptroller of the currency. "E. T. ROREBACK, "Examiner." The National Exchange bank has a capital of $100,000. "The assets of the bank exceed its liabilities and we will be able to pay every depositor in full as soon as we can realize on our holdings. Not at dollar will be lost to any of our patrons." This was the statement of Cashier Baldwin, made soon after the closing notice was posted Monday. The failure, although unexpected, caused no excitement among the depositors. Washington, Dec. 8.-It was-stated at the office of the comptroller of the currency that the failure of the National Exchange bank at Springfield, Mo., was due to the bank's insolvency caused principally by losses on loans and investments. In its report September 23 last the bank had a surplus of $50,000 and deposits of $1,049,273. Bank Examiner Frank O. Hicks has been appointed receiver.
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Will Take Over Failed Bank. Springfield.-The Merchants' Nation al bank, with a capital stock of $200,000, paid up, and with a holding company having a paid-up capital of $100.000 and to be known as the Security Trust company of Springfield, was organized here. The new bank will take over the suspended National Exchange bank as soon as governmental sanction to the transfer is obtained and will pay depositors of the defunct institution dollar for dollar.
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Texas saving bank, placed in receiver's hands. 18—John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21—Capital State Bank, Boise, Idaho, suspended. 22—Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25—National Bank of North America, New York, closed for liquidation, by order of government. 29—New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31—Oriental Bank of New York closed doors, following run. Feb. 13—W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26—International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27—Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13—John R. Walsh denied new trial; sentenced to five years in federal prison. 16—People's National bank, Aspin, Col., closed. Apr. 1—Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21—Bank of Wauseon, Wauseon, O., closed doors. 24—T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8—Euclid Avenue Trust Co., Cleveland, O., assigned. 14—Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28—G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3—Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23—Citizens' bank, Dover, Ky., closed doors. Jul. 14—National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17—Farmers and Merchants' Banking Co., Cleveland, O., failed. Aug. 6—First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25—A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10—A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16—Union National bank, Sommerville, Pa., closed by government. Nov. 5—Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6—C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. 23—Eldred bank of Eldred, Pa., suspended; capital stock, $100,000. Dec. 7—National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11—Springport, Mich., State Savings bank closed by bank examiner.
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TODO ICAN Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 22-Traders and Mechanics' Bank, Pittsburg. Pa. closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000. and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euelid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg. Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosclusko Company bank, Warsaw, Ind., closed by state auditor. Jul. 14-National Deposit bank, Philadel. phia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine declsion unanimously reversed by United States court of appeals at Clilcago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty : of misapplication of funds and falsifying books of National Bank of AmerI Ica, New York. I 6=C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. Dec. 7-National exchange bank at 1 Springfield, Mo. closed; excitement , caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union Na. . tional bank. 11-Springport, Mich., State Savings bank 1 closed by bank examiner. 16-Somersworth, N. H., First National 9 bank closed, following discovery of shortage of $85,000. 1 23-Thomas F. Ryan announced retirement from finance. : 26-Henry W. Poor, New York broker, assigned for creditors. a
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o tional bank and se railroads, convicted of msapprop aring institution's f funds. 22-Traders and Mechanics' Bank, Pittsburg, Pa. closed doors. t 25-NationalBank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. Feb. of 13-W. B. Ridgely, comptroller currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosciusko Company bank, Warsaw, Ind., closed by state auditor. Jul. 14-National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard Oil $29,240,000 fine decision unanimously reversed by United States court of appeals at Chicago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 5-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. ep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. OV. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of AmerIca, New York. -C. W. Morse sentenced to 15 years; Curtis given liberty on suspended senlence. ec. 7-National exchange bank at Springfield, Mo., closed; excitement aused by effort of W. O. Oldham, ashier of State Savings bank, to shoot President H. B. McDaniel, of Union Nadonal bank. Springport, Mich., State Savings bank losed by bank examiner. Somersworth, N. H., First National ank closed, following discovery of hortage of $85,000. Thomas F. Ryan announced retire2 ent from finance. Henry W. Poor, New York broker, as2 gned for creditors.
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Tas, Tex., Targest Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 22-Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosclusko Company bank, Warsaw, Ind., closed by state auditor. Jul. 14-National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine declsion unanimously reversed by United States court of appeals at Chieago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. Dec. 7-National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed "by bank examiner. 16-Somersworth, N. H., First National bank closed, following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors.
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Texas saving bank, placed in receiver's hands. 18—John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21—Capital State Bank, Boise, Idaho, suspended. 22—Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25—National Bank of North America, New York, closed for liquidation, by order of government. 29—New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31—Oriental Bank of New York closed doors, following run. Feb. 13—W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26—International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27—Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13—John R. Walsh denied new trial; sentenced to five years in federal prison. 16—People's National bank, Aspin, Col., closed. Apr. 1—Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21—Bank of Wauseon, Wauseon, O., closed doors. 24—T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8—Euclid Avenue Trust Co., Cleveland, O., assigned. 14—Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28—G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3—Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23—Citizens' bank, Dover, Ky., closed doors. Jul. 14—National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17—Farmers and Merchants' Banking Co., Cleveland, O., failed. 22—Standard Oil $29,240,000 fine decision unanimously reversed by United States court of appeals at Chicago. Aug. 6—First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25—A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10—A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16—Union National bank, Sommerville, Pa., closed by government. Nov. 5—Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6—C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. 23—Eldred bank of Eldred, Pa., suspended; capital stock, $100,000. Dec. 7—National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11—Springport, Mich., State Savings bank closed by bank examiner. 16—Somersworth, N. H., First National bank closed, following discovery of shortage of $85,000. 23—Thomas F. Ryan announced retirement from finance. 26—Henry W. Poor, New York broker, assigned for creditors.
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Springfield Bank Plans Approved. Springfield, Mo., Jan. 9.-M. C. Baker, cashier of the Merchants' National bank here, which will take over the assets and liabilities of the suspended National Exchange bank, received a telegram Friday from Washington saying the comptroller of the currency had approved the plans for the reorganization of the suspended institution and the charter would be issued Saturday next. The new bank will be capitalized at $200,000. The National Exchange bank was closed December 7, 1908, by order of the comptroller.