Lombard Investment Company (Kansas City, MO)

Episode Information

Episode UID
6525572891125
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
652557289 hash
Start Date
September 19, 1893
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
354c7235635b8a43

Response Measures

None

Description

Firm placed in hands of receivers (corporate failure) rather than described as a depositor bank.

Events (1)
1. September 19, 1893 Receivership
Newspaper Excerpt
Receivers appointed for the Lombard Investment Company.
Source
newspapers

Newspaper Articles (9)
1. September 20, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 20, 1893

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Article Text

BUSINESS TROUBLES. Receivers Appointed for the Lombard Investment Company. KANSAS CITY, Mo., Sept. 19.-The news was given out, this evening, at the headquarters of the Lombard Investment Company, that receivers have been appointed for the company. The appointments were made by Judge Henry C. Caldwell, of the Eighth judicial circuit, at St. Paul, Minn., yesterday, on the application of the New York Security and Trust Company. The receivers appointed are: Charles S. Fairchild. of New York. ex-Secretary of the Treasury: M. E. Whitney, a banker. of Westfield, Mass.; Sanford B. Ladd and Frank Hagerman, attorneys, of Kansas City, and H. E. Mooney, vice president of the Lombard Company, also of this city. The Lombard Investment Company has a capital of $4,000,000 paid up, and the other subsidiary companies, which wereorganized by the parent company to take care of the different branches of business, have paid up capitals varying from $300,000 to $500.000, all owned by the parent company. The company has now outstanding in guaranteed loans over $30,000,000 at 6 per cent. interest. The assets of the company equal that amount, but they consist of property not now negotiable. and upon which not enough money. 80 the complainants to the suit allege, could be raised to meet maturing debts.

2. September 20, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, September 20, 1893

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Article Text

THE LOMBARD IN TROUBLE. KANSAS CITY, Mo., Sept. 19.-The news was given out this evening at the headquarters of the Lombard Investment company that receivers have been appointed for the company. The appointments were made by Judge Henry C. Caldwell, of the Eighth judicial circuit, at St. Paul, Minn., yesterday, on the application of the New York Security and Trust company. Maria H. Hotchkiss and George Burnham, the title of the suit being these parties as complainants against the Lombard Investment Company of Kansas. the Lombard Investment Company of Missouri Valley, Loan and Trust company, Investors' company. City Real Estate company, Alliance Trust company, corporations, defendants. The receivers appointed are: Charle Fairchild, of New York, ex-secretary of the treasury: M. B. Whitney, a banker of Westfield. Mass.: Sanford A. Ladd and Frank Hagerman, attorneys of Kansas City. and H. E. Mooney, vice president of the Lombard company, also of this city. The Lombard company has a capital of $4,000,000 paid up, and the other subsidiary companies, which were organized by the present company to take care of its different branches of business, have paid-up capital varying from $300,000 to $500,000 allowed by the parent company. The company has for years been doing a guarantee mortgage business. It has now outstanding in guaranteed loans over $300,000,000 at 6 per cent interest. The assets of the company equal that amount, but thev consist of property not now negotiable and upon which not enough money, so the complainants to the suit allege, could be raised to meet maturing obligations. The complainants set forth that up to Dec. 31 the company must pay out $90,000 for general expenses, $79,626 for interest on debentures. $74,000 interest on loans in process of foreclosure, $102,300 in taxes-an aggregate of $345,926while to meet these obligations there will be only $52,143.21 in available cash. In addition the interest which the company will have to meet in the performance of its guarantees is placed at $150,000 per month. Upon these allegations the receivers were appointed. The company did not resist the application.

3. September 21, 1893 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, September 21, 1893

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Article Text

# IN THE HANDS OF RECEIVERS. The Lombard Investment Company Undergoes a Change in Business Affairs. KANSAS CITY, Mo., Sept. 20.-The Lombard Investment company of Kansas City, Philadelphia and London and its auxiliaries, the Missouri and Kansas Trust company, the Valley Loan and Trust company, the Investors' company, the City Real Estate company and the Alliance Trust company were placed in the hands of receivers yesterday by Judge II. C, Caldwell, of the United States circuit court of the Eighth district, sitting at St. Paul. The following were appointed receivers: Hon. M. B. Whitney of Westfield, Mass.; ex-Secretary Charles S. Fairchild of New York; Sandford B. Ladd, Fraak Hagerman and H. E. Mooney of Kansas City. They were appointed upon application of the New York Security and Trust company: Maria H. Hotchkiss of New York and George Burnham of Philadelphia.

4. September 22, 1893 The Red Cloud Chief Red Cloud, NE
Article from The Red Cloud Chief, September 22, 1893

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Article Text

LARGE KANSAS CITY FAILURE. Receivers Appointed For the Lombard In vestment Company. KANSAS CITY, Sept. 20.-It was announced here that before Judge Henry C. Caldwell, of the Eighth judicial circuit at St. Paul, receivers were appointed for the Lombard Investment company. They are Charles S. Fairchild of New York, ex-secretary of the treasury; M. B. Whitney, a banker of Westfield, Mass.; Sanford B. Ladd and Frank Hagerman, attorneys, of Kansas City, and H. E. Mooney, vice president of the Lombard company, also of this city. The receivers were appointed on the bill of complaint of the New York Se. curity and Trust company, Martha D. Hotchkiss and George Burnham. The New York Security and Trust company is a trustee of property deposited with it to secure two series of debentures issued by the Lombard Company of Missouri, amounting to $200,000. Mrs. Hotchkiss is the owner of loans guaranteed by the defendant, amounting to $150,000, and is also owner of 416 shares of stock in the Lombard Company of Missouri. Mr. Burnham is the owner of 900 shares of the capital stock of the Lombard Company of Missouri, amounting to $90,000. The company has offices in Kansas City, Boston, New York and Philadelphia.

5. September 23, 1893 The Kimball Graphic Kimball, SD
Article from The Kimball Graphic, September 23, 1893

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Article Text

Different Method Necessary. KANSAS. CITY, Sept. 20.-Last week all roads lead to the Cherokee Strip. This week they all seem to be leading away from it. Over 1,000 ex-boomers passed through the union depot enroute home, making a total of at least 4,000 for the past three days. Out of this number not a score could be found who secured a claim. Some of those who returned were boomers who, although they had secured a chance for a claim, were unwilling longer to endure the hardships of the Strip for the sake of a piece of land. It is the opinion of all who witnessed such a rush that the gov. ernment will have to find a different method of throwing lands open to settle. ment if it desires to avoid such disastrous failures as that of last week. LARGE KANSAS CITY FAILURE. Receivers Appointed For the Lombard In vestment Company. KANSAS CITY, Sept. 20.-It was announced here that before Judge Henry C. Caldwell, of the Eighth judicial circuit at St. Paul. receivers were ap. pointed for the Lombard Investment company. They are Charles S. Fairchild of New York, ex-secretary of the treasury; M. B. Whitney, a banker of Westfield, Mass.; Sanford B. Ladd and Frank Hagerman, attorneys, of Kansas City, and H. E. Mooney, vice president of the Lombard company, also of this city. The receivers were appointed on the bill of complaint of the New York Security and Trust company, Martha D. Hotchkiss and George Burnham. The New York Security and Trust company is'a trustee of property deposited with it to secure two series of debentures issued by the Lombard Company of Missouri, amounting to $200,000. Mrs. Hotchkiss is the owner of loans guaranteed by the defendant, amounting to $150,000, and is also owner of 416 shares of stock in the Lombard Company of Missouri. Mr. Burnham is the owner of 400 shares of the capital stock of the Lombard Company of Missouri, amounting to $90,000. The company has offices in Kansas City, Boston, New York and Philadelphia.

6. September 28, 1893 The Coconino Weekly Sun Flagstaff, AZ
Article from The Coconino Weekly Sun, September 28, 1893

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Article Text

MISCELLANEOUS. THE steamer Montgomery, twin ship to the United States steamer Detroit, on her third private trial trip, when off Thomas Point, Chesapeake bay, burst a steam pipe, and Chief Engineer Meshaw and Coal Heaver John Doyle were scalded to death. THE $5,000 race from Chicago to Milwaukee between the whaleback steamer Christopher Columbus, of Chicago, and the Goodrich line steamer Virginia, was won by the Columbus. THE jury at Topeka, Kan., found Secretary of State Osborn guilty of libelling Cy Leland. Osborn, in an interview, had stated that Leland was in collusion with George H. Case at the penitentiary in defrauding the state. JUDGE PUTNAM at Boston ordered a verdict of not guilty in the case of ExPresident Potts, of the Maverick bank, on the grounds of insufficient evidence. FIVE men were killed and six injured by a gas explosion in Lany No. 11 mine near Wilkesbarre, Pa. The disaster was caused by a naked light. THE mystery of the disappearance of Miss Jennie Mehl, the daughter of Eugene Mehl, formerly proprietor of the Ryan hotel, in St. Paul, Minn, has been solved. It has been learned that she was married to James Robinson, a young mulatto, formerly an elevator boy in the Ryan hotel. AN express on the Illinois Central was held up at Centralia, Ill. The trainmen showed fight, resulting in the defeat and wounding of two of the robbers. The fireman and engineer were wounded. Two of the bandits were captured, one of whom confessed. EIGHT of the rioters were killed and twenty-five wounded by the militia at Roanoke, Va. The negro was finally secured by the mob, hanged, shot and burned with the usual horrible incidents. THE executive committee of the fair have decided not to extend it beyond the time originally Set. GREAT excitement prevails among the colored people of Jefferson parish, adjoining New Orleans, over the recent lynchings there and a race war is believed to be imminent unless the governor interferes. AUTHENTIC information has been received of the sinking of the British schooner Windmere, with five persons. Two Chicago policemen and a crook in a street battle were all shot, the crook and one policeman fatally. THE town of Perry in the Cherokee strip is rapidly assuming city proportions. THE Memphis Appeal-Avalanche is about to change hands. THERE have been recent developments tending to show that the Louisville & Nashville will soon absorb the Cheapeake, Ohio & Southwestern. THE date of the race for the America's cup has been changed to October 5. EX-SECRETARY CHARLES FAIRCHILD, one of the receivers of the Lombard Investment Co., of Kansas City, does not think the company will be able to resume. EIGHTY-THREE lives were lost by the e foundering of the Haytien warship Alessandro Peton.

7. April 6, 1895 The Herald Los Angeles, CA
Article from The Herald, April 6, 1895

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A Change in Officers KANSAS CITY, April 5.-At a meeting of the directors of the Concordia Loan & Trust Company, which controls a large majority of the business of the Lombard Investment Company. held at the office of the company in Kansas City, Kan., today, Charles S. Fairchild, of New York, was elected president. and Sanford B. Ladd, of Kansas City, vice-president. Mr. Fairchild is now with the Security Loan & Trust Company of New York, and was Secretary of the Treasury during Mr. Cleveland's first administration. Among the directors are Messrs. Whitney, Fairchild and Ladd, the former of the Lombard Company, with Mr. Hagerman, who is now sole receiver.

8. October 1, 1896 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, October 1, 1896

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BIG SUIT ON HAND. Topeka, Kas., Oct. 1.-The Atlantic Trust company of New York, has filed in the Federal court, a bill in equity against Frank Hagerman, receiver of the Lombard company of Kansas City, and others asking for a decree of foreclosure in the matter of a million dollar debenture bond, delivered by the Lombard company to the plaintiff in trust for money loaned. The suit is the first step towards the re-organization of the Lombard company.

9. October 2, 1896 Pine Bluff Daily Graphic Pine Bluff, AR
Article from Pine Bluff Daily Graphic, October 2, 1896

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Article Text

Filed & Bill. TOPEKA, Oct. 2.-The Atlantic Trust company of New York has filed in the Federal court a bill in equity against Frank Hagerman, receiver of the Lombard company of Kansas City and others, asking for a decree of foreclosure in the matter of $1,000,000 debenture bonds delivered by the S, Lombard company to the plaintiff in trust for money loaned. The suit is the first step towards the reorganization of the Lombard company.