Fort Dallas National Bank (Miami, FL)

View Charter #6774 on SPMC View balance sheet

Episode Information

Episode UID
677401291
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
67740 national
Charter Number
6774
Start Date
July 5, 1907
Location
Miami, Florida (25.774, -80.194)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
51d2bbf2fc225062

Response Measures

None

Receivership Details

Depositor recovery rate
41.5%
Date receivership started
1907-07-05
Date receivership terminated
1912-10-31
OCC cause of failure
Fraud
Share of assets assessed as good
20.3%
Share of assets assessed as doubtful
59.8%
Share of assets assessed as worthless
19.9%

Events (4)
1. May 6, 1903 Chartered
Source
historical_nic
2. July 5, 1907 Receivership
Source
historical_nic
3. July 5, 1907 Receivership
Newspaper Excerpt
Examiner McDonald has been appointed receiver.
Source
newspapers
4. July 5, 1907 Suspension
Cause
Government Action
Cause Details
Closed by direction of the Comptroller of the Currency after bank examiner reported the bank insolvent.
Newspaper Excerpt
The Fort Dallas National Bank of Miami, Fla., was closed today by direction of the comptroller of the currency, upon information received from Bank Examiner J. K. McDonald, that the bank is insolvent.
Source
newspapers

Newspaper Articles (19)
1. July 5, 1907 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 5, 1907

Click image to open full size in new tab

Article Text

tions may greatly aid it in its action now pending for the dissolution of the trust. It also recognizes the propriety of Landis striving to ascertain the extent of the trust's property before imposing any part of the possible $29,000,00 hre in the rebate cases, already determined. It cannot, however, suggess to Landis any limitations upon his judicial course, and is thus helplessly standing by with the prospect of seeing the oil king march triumphantly out of Chicago after giving but meagie information of the Standard's business, but thereby securing abso late immunity from the prosecution he has feared. It is not believed at the department that Mr. Rockefeller seriously attempted to evade service. The opinion is that he hid just long enough to get the gaze of the country at large centered on his pursuit, and then gave himself up, in the belief that a failure to put him on the stand after 80 much fuss would have a tendency to weaken the goverment's case in popular estimation. The Fort Dallas National Bank of Miami, Fla., was closed today by direction of the comptroller of the currency, upon information received from Bank Examiner J. K. McDonald, that that the bank is insolvent. Examiner McDonald has been appointed receiver. The bank's resources and liabilities at the close of business May 30, 1907 were $808,466.08. Michael J Galvin, 23 years old, a member of Company E., Second Battalion, Engineer Corps, fell overboard from the arsenal wall this morning and WIS drowned. His body was recovered.

2. July 6, 1907 The Times Dispatch Richmond, VA
Article from The Times Dispatch, July 6, 1907

Click image to open full size in new tab

Article Text

FLORIDA BANK GOES TO WALL The Fort Dallas National, of Miami, Placed in the Hands of a Receiver. WASHINGTON, July 5.-The Fort Dallas National Bank of Miami, Florida, was closed to-day by direction of the Comptroller of the Currency upon information received from Bank Examiner McDonald that the bank is insolvent. The liabilities are given as $808,466. According to a statement made on May 20th last, the bank had loans and discounts amounting to $260,899. circulation of $52,000, United States bonds and premiums, $19,500, and "bonds, securities, claims, etc.," $274,560. There was due from banks and bankers $96,400. and cash and cash items on hand, $52,507. The capital stock of the bank was $100,000; its deposits, $573,918; bills payable, $55,000, and $18,750 was due to banks and bankers.

3. July 10, 1907 Smyrna Times Smyrna, DE
Article from Smyrna Times, July 10, 1907

Click image to open full size in new tab

Article Text

A WFEK'S NEWS CONDENSED Tuesday, July 2. Despondent and out of work, Walter L. Latham committed suicide near Ambler, Pa., by drinking poison. One man was killed and a dozen others injured by being struck by a train at the Carnegie steel plant at Youngstown, O. Because Miss Minnie Phatum refused to marry him. Magnus Thompson shot end fatally wounded her and then killed himself, at Blackbrook, Wis. Carl Pohlig, court conductor of the Royal Opera of Stuttgart, has been engaged as conductor of the Philadelphia Orchestra, to succeed the late Fritz Scheel. Wednesday, July 3. Governor Hughes called an extra session of the New York legislature for July 8. The Casino building on the bluff overlooking the James river at Newport News, Va., was destroyed by fire. Loss $16,000. Spontaneous combustion among fireworks caused a fire in Minneapolis which destroyed a four-story building and caused a loss of $150,000. The first national bank of Hicksville, O., has been closed by drection of the comptroller of the currency, and a receiver appointed. Friday, July 5. Rear Admiral Norman V. H. Farquhar, retired, died in Washington of apoplexy. Connie McGeehan, a well-known base ball player, died of tuberculosis at Hazleton, Pa. The plant of the Larrabee Flour Milling company, at Stafford, Kan., was destroyed by fire, entailing a loss of $150,000. Fire destroyed the main building of the Toasted Corn Flakes company's plant, at Battle Creek, Mich., causing a loss of $75,000. Major Chester Harding, of the engineer corps of the army, has been ordered to the Isthmus of Panama to assist Lieutenant Colonel Goethals, the chief engineer. Saturday, July 6. : Two earthquake shocks that shook buildings and rattled windows and dishes were felt at Bismarck, Mo. George E. Roberts, director or the United States mint, was elected presi) dent of the Commercial bank of New York. Charles B. Warring, Ph. D., author of several well known scientific works, died at Poughkepsie, N. Y., aged 82 years. The Fort Dallas National bank of Miami, Fla.. was closed by direction of the comptroller of currency. Liabilities are $808,466. s Distressed by the noises of the Fourth of July celebration, Mrs. Johannel Evert, a widow, hanged herself from a bedpost in her home in Jersey City. C . Monday, July 8. Horse theft sent Albert Boots from Lancaster, Pa., to the penitentiary for five years. Crushed under a crated wagon a the Western Maryland railroad freight . warehouse, at York, Pa., Marsh Ying ling, a trucker, may die. d Three youths, stealing a ride on a freight car entering Boston, were struck by an overhead bridge, killing one and fatally injuring another. I While he was dropping beans in a field near Bellwood, Pa., Ira Shoenfeld good 15 was mysteriously shot in the

4. July 12, 1907 The Ocala Banner Ocala, FL
Article from The Ocala Banner, July 12, 1907

Click image to open full size in new tab

Article Text

A BEAUTIFUL OBJECT LESSON The manner in which the people of Miami and vicinity rallied to the support of the two solvent banks yesterday immediately following the suspension of the Fort Dallas National Bank. and at a time when a heavy run was threatened. teaches the world a beautiful object lesson and what noble and patriotic men can do. It will be the means of restoring confidence in local financial conditions. As soon as the suspension of the Fort Dallas National Bank became known, the cooler and wise business heads of merchants and citizens in general realized that the heaviest strain, if any came, would be on the bank of Bay Biscayne, because of President W. M. Brown of the Fort Dallas. being also president of the Bank of Bay Biscayne, and expressions were common: "We must save that bank. and now is the time to do it." Men who had never carried accounts there before rushed off to gather up their receipts of the two days before and place them there. while regular depositors added more to their accounts. Even savings banks were robbed and the contents dumped into the funds of the institution. Every dollar would help, and they knew it. They were willing to take their chance against loss, and took it bravely and fearlessly. For every dollar that was drawn out by the smaller depositors five were placed against it. The bank has fortified itself against a possible run and could have paid every draft without a deposit being made that day, but that was not the question. The institution must be saved. and the public manfully. cheerfully and heroically did their part with all their heart. They cared not how much money the bank had. It must have more, they must do their duty, and they did it. No more beautiful tribute than this can go out to the world. In the 1 face of possible loss, financial ruin, and even poverty, if the bank went I under, they took their chance, fearon lessly, willingly. and helped save the day. The excitement is over. ConfiI dence has been restored among the et few who were fearful of the result, and a day or two hence the business of Miami will be rocking along in its a even tenor. Its people have demonstrated their worth as citizens. Too I t much credit and praise cannot be given them.-Miami Metropolis. u

5. July 26, 1907 The St. Lucie County Tribune Fort Pierce, FL
Article from The St. Lucie County Tribune, July 26, 1907

Click image to open full size in new tab

Article Text

FACTS ABOUT MIAMIFAILURE East Coast Ice Company Heavily Involved in Bond Issue. IMPORTANT DICISIONS Petition of J. K. McDonald, Receiver of Defunct Bank, to Judge Shelby. Details of Judge's Decisions. Action against W. M. Brown, former president of the defunct Fort Dallas National bank, of Miami, its former ashier, George R. Gomph, the Florida Cast Coast lee Company. of Miami, and the Empire Trust Company of New York, has been begun in the United States court by J. K McDonald, as re geiver of the Fort Dallas National bank. The petition of the complainants alleges fradulent transactions, and the court is asked to declare certain sales all and void, to order an accounting, appoint a special master for this purbose, to enjoin the further issuing of onds by the Florida East Coast Ice Company, to place the ice company in hands of a receiver, and for such ther relief as the petitioner may be ntitled to. The petitioner is represented by Attorneys Hudson & Boggs, of Miami. A copy of the petition was placed in office of Clerk F. O. Locke Friday, hile the original was taken to Birmagham and presented to Judge Shelby, Tudge J. W. Locke being absent from district. K. McDonald, as receiver of the Fort Dallas National bank, the defunct Tiami institution, sets up in his petithe following allegations: That prior to July 5. 1907, the Fort allas National bank was engaged in a general banking business, but that on date it was, by order of the compcoller of the treasury of the United States, closed, and on July 15, the apcinted receiver (MeDonald) was orStred by the comptroller of the treasto bring this action. That the respondent, William M. wown, was a director of the bank, and president; that the respondent Geo. Gomph, was a director of the bank its cashier, and that Brown and omph, were directors and president treasurer respectively, of the FlorEast Coast Ice Company. Then comes the allegation, as follows which the action is primarily based: That on May 14, 1907, at "a pretended eeting" of the directors of the Fort allas bank, at which it is alleged there present William M. Brown, Geo. Gomph and H. E. Tuttle, it is larged that Brown offered to sell to bank bonds of the ice company, to amount of $100,000, as a portion of issue of $200,000 alleged by Brown being then ready, or nearly ready issuance. That a statement was presented to effect that the company had earned per cent on $500,000 capital stock, its bonds were selling at 105.75; d that it was decided to take up 200 of bonds, at their par value. That May 15, 1907, there is entered on books of the bank the sum of $100,charged to the account of "other and bonds," for 200 bonds of the

6. August 2, 1907 The St. Lucie County Tribune Fort Pierce, FL
Article from The St. Lucie County Tribune, August 2, 1907

Click image to open full size in new tab

Article Text

W. M. BROWN MAKES PUBLIC STATEMENT W. M. Brown, president, and George R. Gomph, cashier, of the suspended Fort Dallas National Bank, and J. A. McDonald, president of the Bank of Bay Biscayne, who have been in the north endeavoring to adjust the affairs of the bank, have returned to Miami.

7. August 9, 1907 The St. Lucie County Tribune Fort Pierce, FL
Article from The St. Lucie County Tribune, August 9, 1907

Click image to open full size in new tab

Article Text

Fort Dallas Bank Report. The first report to the comptroller of the currency by L. K. McDonald, receiver of the Fort Dallas National bank of Miami, shows the total assets of the bank to be $667,101. The receiver estimates $137,700 as good, $404,577 as doubtful and $134,825 as worthless. The total liabilities, which does not include capital stock, amount to $577,076.

8. November 29, 1907 The Ocala Banner Ocala, FL
Article from The Ocala Banner, November 29, 1907

Click image to open full size in new tab

Article Text

The Miami Defunct Bank Appearances seem to indicate that the grand jury is now delving into the accounts of the defunct Fort Dallas National Bank, for several armfuls of the records of the bank have been taken into the grand jury room, and Receiver J. K. McDonald is in attendance at the court room. How long the grand jury will work on the case cannot be estimated, but it is evident that they will make a thorough examination of the books of the bank.--Tropical Sun.

9. January 2, 1908 The Nevada County Picayune Prescott, AR
Article from The Nevada County Picayune, January 2, 1908

Click image to open full size in new tab

Article Text

Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. LF. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. %-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situa19-Citizens' tion. State bank of Firth, Neb., closed by state. 18-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens bank of Eureka Springs, Ark., suspended. -Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug 3-People's State bank of Brownstown, Ind., closed by state authorities. It-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank. of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 13-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 4-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 5-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 6-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. -Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 2-Merchants' National bank of Portland, Ore,, California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 8-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 7-American Silk Co. capital stock, $11,000,000, which operated mills in several cities. placed in hands of receiver. Dec. 2 Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier. closed. -National Bank of Commerce, one of largest

10. January 3, 1908 The Forrest City Times Forrest City, AR
Article from The Forrest City Times, January 3, 1908

Click image to open full size in new tab

Article Text

FINANCIAL Jan Merchants' and Farmers' bank of Fairmont, Minn. suspended. Feb.2-F D. Gilman, former president suspended Home bank of Goodland, Ind. found guilty of embezzlement. LF D. Gilman, Indiana banker sentanced to term of one to three years in state prison. Disappearance of $ 3,000 from subtreasury at Chicago made public. Mar. 14 Virtual panic in Wall street; Secretary Cortelyou relieved the situation Citizens State bank of Firth, Neb., closed by state Corbin Banking company of New York, assigned assets, $3,000,000; Habillties, $1,700,000. pr. -Maj H. W. Salmon of Warsaw. Mo. convicted of illegal banking, sentenced three years in penitentlary 11-Bank of Conception, at Clyde, Mo., ordered closed 10-Ex-Judge Smith of Chicago, found utity of conspiring to defraud stock holders and depositors of Bank of America, of which he was president; Denalty imprisonment and $1,000 fine Citizens' bank of Eureka Springs, Ark. suspended -Fort Dallas National bank of Miami, Fla. closed. -Farmers' National bank of Boyertown. Pa. ordered closed. Aug. 1-People's State bank of Brownstown, Ind. closed by state authorities. Receivers appointed for Pope Mfg Co., of Hartford, Conn. failure ascribed to stringency of money market ep. 5-5 Watson & Co. members of New York stock and produce exchanges and of Chicago board of trade failed. Oct. -Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutiona closed doors &-Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange New York clearing house committee declared that the Heinze Morse and Thomas interests had been eliminated from banking organizations of New York -Krickerbocker Trust Co. New York's second largest financial institution, forced to suspend great slump in securities: call money at 70 per cent. Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed 84 Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala. filed involuntary petition in bankruptcy -8ix more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. -Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. -California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. T-Three small banks in Kansas closed United States Steel corporation secured controlling Interest in Tennessee Coal & Iron Co. Receiver appointed for Arnold Print works of North Adams, Mass. one of largest textile concerns In country 22-Merchants' National bank of Portland, Ore California bank of Oakland, Cal. and Farmers' & Merchants' bank of Sapulpa, I T. suspended 22 Secretary of Treasury Cortelyou or dered issue of $ 50,000,000 of Panama bonds and $100,000.00 certificates of indebtedness as means relieving financial situation City National bank of Frederick, Okla., falled -American Silk Co capital stock $11. 000,000, which operated mills in several cities placed In hands of receiver Dec. 2 Chelsea Savings abnk of Chelsea. Mich owned by State Treasurer Glazler, closed. 5 National Bank of Commerce, one of largest financial Institutions of Kansas City, suspended -Fort Pitt National bank of Pittsburg, closed 17-Jewelers' National bank at North Attleboro, Mass., In hands of receiver

11. January 4, 1908 The Huttig News Huttig, AR
Article from The Huttig News, January 4, 1908

Click image to open full size in new tab

Article Text

3an. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Teb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. -F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. B-Citizens' State bank of Firth, Neb., closed by state. 88-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. XI-Bank of Conception, at Clyde, Mo., ordered closed. 9-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 08-Fort Dallas National bank of Miami, Fla., closed. 80-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 9-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 12-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 33-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 04-Three minor banks in New York rforced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 3-Six more minor banking institutions Voniin Ne

12. January 10, 1908 The Rice Belt Journal Welsh, LA
Article from The Rice Belt Journal, January 10, 1908

Click image to open full size in new tab

Article Text

Merchants' and Farmers' bank rinont, Minn., suspended. F. D. Gilman, former president I ded Home bank of Goodland, found guilty of embezzlement. D. Gilman, Indiana banker, sen> ed to term of one to three years in e prison. asappearance of $173,000 from subreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situa19-Citizens' tion. State bank of Firth, Neb., closed by state. 28 Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking. sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., BUSpended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from: banki organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities: call money at 70 per cent. -Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. -Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to preven draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. California Safe Deposit & Trust Co Finan bank, at San Fran isco, closed cial conditions in New York practicall normal again. Nov. 4-Three small banks in Kansa closed United States Steel corpora tion secured controlling interest in Ten nessee Coal & Iron Co. -Receiver appointed for Arnold Prin works of North Adams, Mass., one largest textile concerns in country. 12-Merchants' National bank of Por land, Ore., California bank of Oaklan Cal., and Farmers' & Merchants' ban of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou O dered issue of $50,000,000 of Panam bonds and $100,000,000 certificates of il debtedness as means of relieving fina cial situation City National bank Frederick, Okla., failed. -American Silk Co. capital stock, $11 000,000, which operated mills in sever cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Che sea, Mich., owned by State Treasur Glazier, closed. National Bank of Commerce, one largest financial institutions of Kans City, suspended. Fort Pitt National bank of Pittsbur closed. M-Jewelers' National bank at Nor Attleboro, Mass in hands of receiver

13. January 11, 1908 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, January 11, 1908

Click image to open full size in new tab

Article Text

Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. -F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 80-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. -National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed.

14. April 16, 1909 The St. Lucie County Tribune Fort Pierce, FL
Article from The St. Lucie County Tribune, April 16, 1909

Click image to open full size in new tab

Article Text

THE manner in which the Miami Metropolis has been going after the receiver of the Fort Dallas National Bank, for incompetency and mismanagement of the assets of the wrecked institution, should bring forth the hearty applaudits of the creditors of the bank and the citizens generally. Miami is to be congratulated on having a newspaper that possesses sufficient stamina to speak out in defense of the common people as against the interests of wealth and position. and the citizens should see that moral and financial backing is extended to its proprietors.

15. April 21, 1909 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, April 21, 1909

Click image to open full size in new tab

Article Text

To Investigate Bank's Affairs. Washington, April 20-Comptroller of the Currency Murray. has sent John W. Schofield. National Bank Examiner, to Miami, Fla., to investigate the affairs of the insolvent Fort Dallas National Bank. in the hands of J. K. McDonald, receiver.

16. April 21, 1909 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, April 21, 1909

Click image to open full size in new tab

Article Text

Bank to Be Investigated. Washington, April 20.-Comtproller of the Currency Murray has sent John W. Schofleld, national bank examiner, to M1ami, Fla., to investigate the affairs of the Insolvent Fort Dallas National bank, in the hands of J. K. McDonald, receiver.

17. April 23, 1909 The Florida Star Cocoa, Titusville, FL
Article from The Florida Star, April 23, 1909

Click image to open full size in new tab

Article Text

Examination Ordered According to reports and information supplied by J. K. McDonald, receiver of the Fort Dallas National bank, John W. Schofield, examiner of examiners, has been ordered to Miami by Lawrence O. Murray, comptroller of the U. S. currency, to make an examination of the receivership under Mr. McDonald. Mr. Schofield is now en route to Miami and should arrive here within the next day or two. His duties are to examine the accounts of national bank examiners and their conduct in office, and is sent out at the discretion of the comptroller.

18. June 4, 1909 The Florida Star Cocoa, Titusville, FL
Article from The Florida Star, June 4, 1909

Click image to open full size in new tab

Article Text

# McDonald to Return to Miami We clip the following interesting article from the Miami Metropolis of Monday: Mr. A. A. Boggs, of the law firm of Hudson & Boggs, returned this morning from a fortnight's business trip to Philadelphia, Washington, Baltimore and New York, on a mission in connection with the litigation in the federal court wherein the receivership of the Fort Dallas National bank and the Halcyon Hall Hotel company are involved. In Washington and in New York Mr. Boggs consulted regarding the Empire Trust company, trustees of the matter, in the latter city, with the two mortgages against the Halcyon Hall Hotel company, involving some $280,000. New steps will probably be taken in this issue before many weeks, when the litigation will come to a head. Mr. Boggs stated to a Metropolis reporter today that Mr. J. K. McDonald, receiver of the Fort Dallas National bank is now en route to Miami from Washington, where he was called by the comptroller of currency in connection with the investigation recently made by Mr. J. W. Schofield into the management of the receivership of Mr. McDonald. Mr. McDonald, it appears, was en route to Birmingham, Ala., to testify in a case before the United States court, but owing to a slight illness in Jacksonville, was unable to attend court. He was then called to Washington to make answer to certain charges made by affidavits of individuals in Miami againt his conduct as receiver. What the outcome of the conference with the comptroller will be in respect to Mr. McDonald is not known, but Mr. McDonald's return here in a day or two would seem to indicate that the comptroller has upheld his stewardship over the affairs of the defunct institution.

19. July 2, 1909 The Florida Star Cocoa, Titusville, FL
Article from The Florida Star, July 2, 1909

Click image to open full size in new tab

Article Text

Brady and Sewell Get Off From the Miami Metropolis. In the matter of J. K. McDonald, receiver of the Fort Dallas National bank, of this city, against W. M. Brown, E. L. Tuttle and James H. Gilman, at one time directors of the institution, an order has been handed down by Judge James W. Locke, in the United States court at Jacksonville, sustaining the demurrer of E. L. Brady and John Sewell. This action practically relieves Mr. Sewell and Mr. Brady from liability in the premises, and the suit against them, discontinued. The demurrer filed by Attorney George M. Robbins, declared that these defendants were not liable on the ground of statute limitations. Messrs. Sewell and Brady resigned as directors of the Fort Dallas National bank in January, 1905, and the suit was brought only this spring. Had the suit been brought against them before January 1908, three years after their severence from the institution as directors the action against them would have been upheld. It is possible, but not probable, that the attorneys for the plaintiff will appeal to the United States circuit court of appeals, pleading the federal limitations of five years. This, it is thought, will not be done, as Messrs. Sewell and Brady were involved in the declaration of the plaintiff only to a small extent.