gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e9f54a72dc4ae30e
Response Measures
None
Description
Bank was placed in receivership after suspension; later reporting shows mismanagement and possible fraud.
Events (4)
1.June 19, 1893Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals and a run on the City Bank amid the June 1893 financial stringency; later revelations showed mismanagement and insider loans.
Measures
Officers posted notice that depositors will be paid in full; directors met and suspended payments.
Newspaper Excerpt
The City bank and the Universe bank are also temporarily embarrassed.
Source
newspapers
2.June 20, 1893Suspension
Cause
Bank Specific Adverse Info
Cause Details
Board/management closed the bank due to inability to meet heavy withdrawals and to collect loans and securities amid the money stringency.
Newspaper Excerpt
The City Savings Bank closed its doors this morning. The president of the City Bank says that the bank has closed temporarily in order to collect money from its loans and securities.
Source
newspapers
3.June 24, 1893Receivership
Newspaper Excerpt
all but the City bank, which is in the hands of a receiver.
Source
newspapers
4.July 1, 1893Other
Newspaper Excerpt
Bids for the Purchase Of the lease, safe deposit vaults and bank fixtures of the City Bank will be received by Otto Brodtbeck, receiver, 131 South Spring street, city.
Source
newspapers
Newspaper Articles (25)
1.June 21, 1893The Daily Morning AstorianAstoria, OR
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BANK SUSPENSIONS. The Stringency in the Money Market Continues With Bad Results. Eugene, June 20.-The Lane county bank, the oldest financial institution in this county, failed to open its doors this morning, having become cramped by the stringency of the money market. Hovey, Humphry and Co. have posted a notice that depositors will be paid in full. No statement has yet been made as to the assets and liabilities, but depositors do not seem to have any fears, and many say that if the bank should open this afternoon they would not draw. The cashier stated in an interview today that the assets, notes and property would amount to nearly three times the liablities. No attachments have been issued and, probably, there will be none. The bank strongly asserts that it will pay every dollar to the depositors, but in order to realize on their credits at once they would be compelled to go into court and crowd their patrons. This they did not feel disposed to do, and when they failed to secure assistance from Portland and San Francisco banks, they concluded to take plenty of time to it, and let matters shape themselves when the money market should be easier. Some excitement was created on the streets and a run was threatened on the other banks, but they were fully able to pay every demand promptly. Albany, Or., June 20.-The excitement over the financial flurry has quieted down. The official statement of the suspended bank's condition will show, it is stated, assets sufficient to pay depositors every dollar. Los Angeles, June 20.-The University Bank and the City Savings Bank closed their doors this morning. The president of the City Bank says that the bank has closed temporarily in order to collect money from its loans and securities. He says depositors will be paid in full. The closing of the University Bank, which is a commercial bank, was a surprise. It has a notice on the door to the effect that depositors will be paid in full. Washington, June 20.-The comptroller today received Messrs. Newberry and Wood, of the Citizens' National Bank of Spokane, Wash., who wish to make some arrangement for reopening that bank. No agreement satisfactory to Eckles could be made. The bank will either go into voluntary liquidation or a receiver will be appointed. Nashua, N. H., June 20.-The Colony Manufacturing Company has failed, liabilities, $168,000, assets, about half. The company was engaged in the manufacture of woolens. Chattanooga, Tenn., a June 20.-The City Savings bank, as a result of a run, has been forced to suspend. Assets, $475,000, liabilities, $225,000. All depositors will be paid in full.
2.June 21, 1893The HeraldLos Angeles, CA
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SCURRYING FOR THEIR DOLLARS. A Flurry in Financial Circles Yesterday. A Plain, Straightforward Statement of the Situation. 1911/ Close The City and University Banks From omTheir Doors Statements cers of All the Important Banks in the City. The effect of mental epidemic peculiar of evidenced yesterday by the to perfinancial was panic which seemed of the meate a certain class of patrons banks of the city. to Much of the excitement eight was due seers, that large crowde of were loafers the fact and people full of curiosity congregated about the banke. was no reason for yesterday's helped There and the people who were excitement, to cause it will admit that they mistaken before many weeks. was stated yesterday that Mr.I. from It would arrive here today stated that Hellman Francisco. It was also arrive in San large sum of coin would train a the very city this morning by special from the north. Below is given a plain, straightforward yeaterday of the situation representatives of statement and interviews with all the banks in the city. IN. MONEY COMING the rumor was circulating around amount of A yesterday that a large afterstreets had been received Monday the money from San Francisco through and was noon of Wells, Fargo & Co., it had agency said that the wagon carrying Differdown under the the broken also persons mentioned weight. different of amounts, ent and $600,000 was one figures given. With the intention of gaining upon some the facts which would throw light a HERALD authenticity of the rumor, Pridham, called upon Wm. Fargo as& sistant reporter superintendent of Wells, Co. Pridham etated that there received, had Mr. large amount of money would been a a much larger amount wagon and received. that The fact of the correct, as breaking be down, in he the said, street was outside his it had window. occurred He, however, forbade stated office rules of his company of the that the known the amount whom coin his making shipment or the persons to it was will, forwarded. however, say this," said enough he. "I know that there is at present insure a "I in bank in this city to in our money of public confidence tell you resumption institutions. I will increasing a financial in the interest of in order this feeling of security, and I do 80 have no people may see that they and I hope that whateoever for alarm, fact and cause will BOON appreciate this on the cease they their senseless runs banks." YESTERDAY'S FEATURES. Yesterday will be day often for referred years "the oldest inhabitant" a day on to by this city. It was hetter of their judgment they which hence ple got the the in feelings of many judgment,and of the became penpanic were losing in stricken that danger of and loging imagined the they hard had that earned they only eavings of years. was If enough gold in known banks that there of this city to would pay the the depositors, they not exposed all stayed at home and of the sun have themselves to the fierce fierce emotions rays which and the no less spirits until they once de racked more grasped their the gold they bad on and posit. morning dawned thought cool at Yesterday and Old Sol passions little and con pleasant, time of the fierce would look down that emotions he western flicting upon before he commenced the part of his THE journey. CITY BANK CLOSES. The strollers along Spring street ominous about o'clock caught eight of an the front notice, 10 which was pasted on It stated window of the City bank. of the "owing to the stringency deemed it that market, this bank has to temmoney interest of its depositors will be paid porarily for the suspend. The depositors A curious doors in full.' but crowd they assembled were principally onlookers around the and few amongst the deposit. were those having entertained money by the the deidlers, Little fear was their money on and the fact that brought positore of getting last clause of the confidence notice and after read **paid Home in full," discussion the crowd gradually diepersed. THE OFFICERS STATEMENTS. D. Childress, the president, etated the A. the total amount of deposits in this amount that $180,000. Of which bank there is were $28,000 of county money. $19,000 of city intact in the bank, and secured by bonds money, clearing is which isamply house and of of members of the The county money in is a the epecial individuals. untouched. deposit and The remains city and county that bank deposits aggregate to the $47,000, credit and of general book leaves $133,000 Childress said the depositore Mr. the $100,000 capital assets, are including $230,000. securities He felt sure that would be realized if even before stock, long on the and bank's that every the acaete depositor should would be ehrink paid in $100,000 full. in the securing of money. S. Park, the cashier of the the bank, bank stated John that on Monday decidedly night weak condi found itself in to the a run which had conse- been tion, owing up on it all that day. of In the di kept run 8 meeting R quence of this of J.J. Schaliert, rectors, consisting D. Childress, was called. G. Lunt and A. met and conferred wi Mon These gentlement of the clearing houseon their the officers night and stated the status The conference of day fairly to them. until 12, bank continued from 8 o'clock bank of was directors of the City fered the rities amounting to and the clearing house officials 000 in gilt-
3.June 22, 1893The Seattle Post-IntelligencerSeattle, WA
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Los Angeles Business Troubles. Los ANGELES, June 21.-Several banks in Los Angeles, including the First National, the Southern California, the Broadway and East Side, have temporarily suspended payment. The assets in all cases largely exceed the liabilities, and depositors will be paid in full. The City bank and the Universe bank are also temporarily embarrassed.
4.June 22, 1893The HeraldLos Angeles, CA
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from says missioner Gerberding a cursory examination of the University bank made last night he found that the $140,000 and has $300,000 88bank to ow68 pay bank it sets it with. At the is stated that nothing will be done until the of President about Friday or expected return Widney, Saturday. which Mr. Gerberding save that "idiotic" would not be too strong a term to apply run on the were never in a to now, the as senselees they really banks here better condition. STATE LOAN AND TRUST COMPANY. The officials of the State Loan and Trust company, in the Bryson block, in to a reporter's queries, said are able to pay every they reply perfectly "We dol- not lar owe on demand. are a run, our experiencing they much though heavier demande of depositors are than usual. We have had two men since yesterday busy all the time in letting out deposit boxes, and they are all being rapidly taken. Of course is that is where the money in going. There was $900,000 money that went but yeaterday from the banks whether it has gone into safe deposits or into stocks. [takei con"that the Firet NaSouthern wise and tinued tional did and the official, the conservative California acts Na- in their doors will not do 80 for a tional not and opening they this few morning, daye, until this excitement quells." PRESIDENT FRANKENFIELD SAYS ALL IS SAFE President Frankenfield of the California bank said they were experiencing nothing unusual at that bank but were prepared for a run if it was to come: that they had ample aggets on hand to pay all that demanded their money. SECURITY SAVINGS BANK. J. F. Sartori, cashier of the Security Savings bank, stated that they had 8 few depositors call and take advantage of clause to get money, these were but the that time excepting few their there for coin. He the bad all the money no demanda bank claimed that necessary there that to demand, but coin still on its way which soon arrive. was meet more would every They here, were from 8 a.m. and thought that open p.m., yesterday the until present 5:30 agitation was about over. THE COUNTY MONEY. A rumor gained some circulation yesterday afternoon that there was some trouble about the county funds on special deposit in the City bank. The rumor no doubt, from a visit paid to District the arose, bank by Upon Attorney investi- Dillon the afternoon. an of the rumor it during gation without foundation. Receiver appeared Brodt- to who be beck informed a HERALD reporter called to see him that while there had not been a thorough examination of the of the bank, he ized that the county yet accounts to say funds felt author- were secured. At did not have more time completely the bank funds the deposit. present than of the county's on before the The $20,000 day suspension lineof the Mr. Childress had set apart a best in the bank as sefor this fund, were securities curity and trustee additional they for the placed in the hands of & on benefit of the county. The cash bank would be first applied to of the hand the in payment the county balance money, to be and if there was a email raised it would be easily done by the secureties already received for that purpose. Mr. Brodtbeck also said that Mr. had told him that the depositbe paid in full, he would turn estate to Childress necessary ors personal would accomplish in and his that that entire end. if CHECKS ARE ACCEPTABLE. Mayor T.E. Rowan and G.A. Dobinson have issued notice that they would receive checks on the First National for real estate, and Would then reduce their prices 25 per cent as well. This and seven or eight other notices to a similar effect will be found published in another column. All these go to show that the financiers there is no danger final know to that depositors, should of loss and go a long ways towards restoring.confidence. THE COUNTY MONEY SAFE. A certified statement of the money belonging to the county of Loa Angeles is given in another column. It states the amount to be $352,852.21, and that it is amply secured.
5.June 22, 1893The Salt Lake HeraldSalt Lake City, UT
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of the First National was to the effect that owing to the heavy run upon the bank amounting to over $60,000, the bank was closed by order of the board of directors. The East Side bank doors bore the following notice: "On account of not being able to cash New York and San Francisco exchange, we are compelled to close our doors. Depositors will be paid in full." A. Gerberding, one of the state commissioners, arrived here yesterday. He is now in charge of the State bank, the City and University, which suspended yesterday. Mr. Gerberding says from a cursory examination of the University bank made last night he found that the bank owes $14,000 and has $30,000 assets. Gerberding says idiotic would not be too strong a term to apply to the senseless run on the banks here now, as they were never in better condition. Promptly at 10 o'clock this morning the Los Angeles National bank opened its doors. A long line of depositors, stretching along Curb street and extending north on Spring street for over 100 feet, were on hand under police escort, to take turns in entering the bank. Just before the iron gates swung open, Major Bonebrake appeared on the steps bareheaded as he
6.June 25, 1893The Seattle Post-IntelligencerSeattle, WA
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Los Angelee Banks Recuming. Los ANGELES, Cal., June 24.-The Bast Side bank opened its doors this morning. This is the first of the closed banks to rew same and s feeling of confidence has returned. The other banks will open on Monday. all but the City bank, which is in the hands of a receiver.
7.June 27, 1893The HeraldLos Angeles, CA
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Bids for the Purchase
Of the lease, safe deposit vaults and bank fixtures of the City Bank will be received by Otto Brodtbeck, receiver, 131 South Spring street, city.
8.June 29, 1893The HeraldLos Angeles, CA
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Bide for the Purchase Of the lease, safe deposit vaults and bank fixtures of the City Bank will be received by Otto Brodtbeck, receiver, 131 South Spring street, city.
9.June 30, 1893The HeraldLos Angeles, CA
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Bids for the Purchase of the lease, safe deposit vaults and bank fixSares of the City Bank will be received by Otto Brodtbeck, receiver, 131 South Spring street, city.
10.July 1, 1893The HeraldLos Angeles, CA
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Bids for the Purchase Of the lease, safe deposit vaults and bank fixtures of the City Bank will be received by Otto Brodtbeck, receiver, 131 South Spring street, City.
11.July 2, 1893The HeraldLos Angeles, CA
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Bids for the Purchase Of the lease, safe deposit vaulty and bank fixtures of the City Bank will be received by Otto Brodtbeck, receiver, 131 South Spring street, city.
12.July 11, 1893The HeraldLos Angeles, CA
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CITY BANK AFFAIRS. Several Intervenors on the Suit of Mrs. Miller. Judge Shaw was engaged yesterday afternoon in hearing testimony in the cases of several intervenors in the suit of Margaret Miller VB. the City bank. J. B. Nevil, one of the intervenors, is an eastern gentleman who put a check for $2500 in the bank for collection shortly before it suspended. He claims that he should have judgment for the amount, as it was not a regular account but that the check was put in simply for collection. The same contention was also made in the cases of two other interventors. After the testimony was concluded the court took the matter under advisement.
13.July 19, 1893Arizona Weekly Journal-MinerPrescott, AZ
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All of the Los Angeles banks which suspended under the recent financial pressure have resumed except the City Bank. The latter has gone out of business entirely.
14.July 29, 1893The Morning CallSan Francisco, CA
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ALL HAD A SHARE. Revelations Regarding the Defunct City Banks of Los Angeles. Los ANGELES, July 28.-A meeting of a number of depositors in the City Bankjwas held to-day. This bank, which is now in the hands of a receiver, was the cause of the recent bank flurry in Los Angeles and it is the only bank which has, not since reopened. Since Receiver Brodtbeck issued his statement there has been much unfavorable comment on the part of depositors, which culminated in to-day's meeting. It was shown that the bank held securities to the amount of over $100,000 of the Pacific Investment Company, a boom enterprise of A. D. Childress. president of the bank, who, since the failure, has been appointed manager of the Los Angeles Clearing-house; that almost all the directors and also the attorney of the bank were borrowers, and that the cashier had been gradually unloading his stock for several months before the suspension. Several of the depositors expressed the belief that there was sufficient ground for criminal proceedings, and it was finally determined to appoint a committee to obtain legal advice and decide upon the best course to be pursued.
15.July 30, 1893The HeraldLos Angeles, CA
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THE only bank in Los Angeles that failed to resume after a careful examination of its status-the City bank-appears to have been a very rotten institution, and its affairs seem to have been managed with a conspieuous lack of direct business methods. The extent to hich its president and directors dipped into its money chest is the subject of invidious comment in business circles. In this respect it afforded 8 marked contrast to the other banka of Los Angeles which suspended, an examination into whose affairs BO conspicuously established their essential soundness and honorable management.
16.August 8, 1893The Morning CallSan Francisco, CA
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Childress Is Out. Los ANGELES, Aug. 7.-A. D. Childress, president of ths defunct City Bank, to-day tendered his resignation to the directors of the Los Angeles Clearing-house as manager of that institution, and it was promptly accepted. Much unfavorable comment was caused by the appointment of Mr. Childress to the position, which appointment was made a few weeks ago, after his bank had suspended.
17.September 14, 1893Lincoln County LeaderToledo, OR
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OCCIDENTAL NEWS. Minister Sues His Congregation for Damages. APACHES OFF THEIR RESERVE. More Complications in the Failed City Bank at Los AngelesAn Old-Style Suicide. A contest is on at Olympia for title to Steamboat Island. The Fraser river salmon pack is the 'dn and ัะตะปะต largest The Apaches are again off their reservation. The news has just been brought to Tombstone, A.T. Tillamook (Or.) hoodlums put in their evenings cutting the legs and tails from cats and enjoying their miserable death. The four national banks at Portland which closed their doors recently are declared solvent, and they may soon resume business. The Succor mine in Gold Hill (Nev.) district has discovered that the Justice mine has been taking ore from its ground, and a heavy suit for damages is likely to follow. Rev. David S. Taylor, ex-minister of the First Congregational Church at Sansalito, Cal., has brought suit against his former congregation for damages amounting to $3,262.50. The Olive Orchard Company at Sacramento is going in the business on a large scale. A contract to place 11,000 trees on the ground the coming season has been entered into. More complications are developed in the affairs of the failed City Bank at Los Angeles, and a complaint charging fraud has been entered against parties connected with the bank. At Victoria, B.C., the Printers' Union has reduced the scale of newspaper work 10 per cent. Machine hands will get $22 per week; hand compositors, night, 45 per 1,000; day, 40 cents. William Young, who threw a lighted oil lamp at Irene Mansfield at Los Angeles, causing death from the frightful burning she received, has been found guilty of manslaughter on the third trial. The Washington National Bank at Tacoma has been placed in a receiver's hands. An attempt was being made to get it out of the Comptroller's hands when the latter checkmated the bank officials. The present progress of the Southern Pacific extension justifies the expectation that the road will reach San Luis Obispo in six months and make a through route to the East in six months after that time. Pasadena by popular vote has conferred upon the City Council the right to enforce the planting of shade trees, the proper trimming of hedges and the eradication of weeds from the streets. The negligent property owner is to be brought up with a round turn. The bills of the Stanford University are being paid, and back salaries are only remembrances. Mrs. Stanford finds it necessary to practice the most rigid economy in order to keep the institution open during the present financial stringency, and many of the employes have necessarily been dismissed. The Southern Pacific will dispense with baggagemen on the Los Angeles division between Los Angeles and Yuma; also probably on some of the shorter runs. Wells-Fargo express messengers
18.September 15, 1893The Lebanon ExpressLebanon, OR
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Minister Sues His Congregation for Damages. APACHES OFF THEIR RESERVE. More Complications in the Failed City Bank at Los AngelesAn Old-Style Suicide. A contest is on at Olympia for title to Steamboat Island. The Fraser river salmon pack is the largest ever put up. The Apaches are again off their reservation. The news has just been brought to Tombstone, A. T. Tillamook (Or.) hoodlums put in their evenings cutting the legs and tails from cats and enjoying their miserable death. The four national banks at Portland which closed their doors recently are declared solvent, and they may soon resume business. The Succor mine in Gold Hill (Nev.) district has discovered that the Justice mine has been taking ore from its ground, and a heavy suit for damages is likely to follow. Rev. David S. Taylor, ex-minister of the First Congregational Church at Sausalito, Cal., has brought suit against his former congregation for damages amounting to $3,262.50. The Olive Orchard Company at Sacramento is going in the business on a large scale. A contract to place 11,000 trees on the ground the coming season has been entered into. More complications are developed in the affairs of the failed City Bank at Los Angeles, and a complaint charging fraud has been entered against parties connected with the bank. At Victoria, B.C., the Printers' Union has reduced the scale of newspaper work 10 per cent. Machine hands will get $22 per week; hand compositors, night, 45 per 1,000; day, 40 cents. William Young, who threw a lighted oil lamp at Irene Mansfield at Los Angeles, causing death from the frightful burning she received, has been found guilty of manslaughter on the third trial. The Washington National Bank at Tacoma has been placed in a receiver's hands. An attempt was being made to get it out of the Comptroller's hands when the latter checkmated the bank officials. The present progress of the Southern Pacific extension justifies the expectation that the road will reach San Luis Obispo in six months and make a through route to the East in six months after that time. Seven San Francisco Chinamen, knowing Tacoma was anti-Chinese, became frightened while being driven from the Portland train to a boat at the wharf at Tacoma at the sight of crowd assembled at a fire. Without waiting to consult the driver of the gurney they cut the straps on the doors and, breaking them open, ran back to the depot and hid. They left their baggage behind. At Hot Creek, Nye county, Nev., Richard Gluyas, superintendent of the Hot Creek and Rattlesnake Mining and Milling Company, an Eastern corporation, committed suicide. He went to the mill and set fire to thirty cords of wood, climbed onto it and shot himself. He was entirely cremated, only two small pieces of bone and the fragments of a pistol being found. He left a will disposing of his property. In 1872 the exports of prunes from California amounted to nothing. So rapidly has the industry grown since that date that last year the exports of this fruit from California reached 30,000,000 pounds. Numerous orchards are coming into bearing year by year, and still more are being planted. This as regards California. In conversation with fruitmen from Oregon we find that orchardists in certain sections of that State have caught the fever and are planting prune trees by tens of thousands. So with Idaho horticulturists. Right and left these same fruit trees are being set out, and as in all these localities named this fruit thrives and yields abundantly, one can imagine the condition of this industry in coming years. Here is something for planters of new orchards to consider. Another attempt may yet be made to rescue thesteam collier San Pedro, which went ashore near Victoria nearly two years ago. This time the Moran Bros. of Seattle have taken the matter in charge, and if they find that it will be worth while to try and save the San Pedro, they will make one final effort to do so. The Southern Pacific Railroad Company, which is the owner of the San Pedro, has, it is said, been in correspondence with the Moran Bros. for some time. The company is anxious that the San Pedro shall be saved. She cost nearly $250,000, and it will be a heavy loss to the company if she is not recovered. However, the company does not care to spend a lot of money in removing the collier from her present quarters and then find that she has been down 80 long as to become absolutely worthless. In order to determine her value the Southern Pacific has arranged with the Moran Bros. to make a personal inspection of her.
19.September 16, 1893The Hood River GlacierHood River, OR
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OCCIDENTAL NEWS. Minister Sues His Congregation for Damages. APACHES OFF THEIR RESERVE. More Complications in the Failed City Bank at Los AngelesAn Old-Style Suicide. A contest is on at Olympia for title to Steamboat Island. The Fraser river salmon pack is the largest ever put up. The Apaches are again off their reservation. The news has just been brought to Tombstone, A. T. Tillamook (Or.) hoodlums put in their evenings cutting the legs and tails from cats and enjoying their miserable death. The four national banks at Portland which closed their doors recently are declared solvent, and they may soon resume business. The Succor mine in Gold Hill (Nev.) district has discovered that the Justice mine has been taking ore from its ground, and a heavy suit for damages is likely to follow. Rev. David S. Taylor, ex-minister of the First Congregational Church at Sausalito, Cal., has brought suit against his former congregation for damages amounting to $3,262.50. The Olive Orchard Company at Sacramento is going in the business on a large scale. A contract to place 11,000 trees on the ground the coming season has been entered into. More complications are developed in the affairs of the failed City Bank at Los Angeles, and a complaint charging fraud has been entered against parties connected with the bank. At Victoria, B.C., the Printers' Union has reduced the scale of newspaper work 10 per cent. Machine hands will get $22 per week; hand compositors, night, 45 per 1,000; day, 40 cents. William Young, who threw a lighted oil lamp at Irene Mansfield at Los Angeles, causing death from the frightful burning she received, has been found guilty of manslaughter on the third trial. The Washington National Bank at Tacoma has been placed in a receiver's hands. An attempt was being made to get it out of the Comptroller's hands when the latter checkmated the bank officials. The present progress of the Southern Pacific extension justifies the expectation that the road will reach San Luis Obispo in six months and makea through route to the East in six months after that time. Sacramento has voted to use well water instead of water from the Sacramento. Nearly 3,000 votes were polled. The water comes from a subterranean stream, the source of which apparently is some mountain lake, and is known to have carried live trout in it as far as the wells east of the city. Seven San Francisco Chinamen, knowing Tacoma was anti-Chinese, became frightened while being driven from the Portland train to a boat at the wharf at Tacoma at the sight of crowd assembled at a fire. Without waiting to consult the driver of the gurney they cut the straps on the doors and, breaking them open, ran back to the depot and hid. They left their baggage behind.
20.September 20, 1893The HeraldLos Angeles, CA
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THE COURTS. Cases on Trial Yesterday and New Suite Filed. Judge Van Dyke yesterday continued the motion for alimony in the divorce case of M. J. Morgan ve. T. W. Morgan to September 21st. Judge Van Dyke yesterday denied a motion for a new trial in the case of the Glendora Irrigation district V8. the Glendora Water company. Chae. Koebelin, a native of Germany, was admitted to citizenship yesterday by Judge Van Dyke. Judge Shaw yesterday granted judg. ment for plaintiff in the case of Lewis B. Reed vs. the city of Los Angelee. There were several arraignments before Judge Shaw yesterday, sitting in department one, and the times for the various defendants to plead were continned to September 21st and September 25th. Yesterday Judge Shaw granted divorces to Mre. Farrow from her husband Mr. Farrow, and Mrs. S. Eddy from S. Eddv. The cases were both by default and on the grounds of desertion and failure to provide. Judgment for plaintiff was granted by Judge Shaw yeaterday in the case of J. A. Brown V8. F. Cowley, a suit to quiet the title to certain land. NEW CASES. Preliminary papers were filed in the county. clerk's office yeaterday in the following new cases: A petition in insolvency was filed yesterday by Fred M. Smith, who was R clerk and stockholder in the City bank to the extent of $10,000, and whose failure is caused by the suspension of the bank. His liabilities are $21,114 8 87, and assets $14,918.33. L. A. Rice V8. J. Marion Brooks-Suit for foreclosure for $1400 on a promissory note and mortgage. Petition by Simon Rosenberger for probate of the will of Helen Rosenberger, her estate being valued at $25,500. F. M. Douglaes vs. Clara Rose Becker -Suit to quiet title to lots 1. 4. 5. 10, 11, 12, 13, 14, 15, 20, 21, 23 and 24, block A, Bennie Highland tract No. 2. D. B. Milliken VS. Cook & LangleySuit for $739.92, balance due on ac count. Elizabeth E. O'Connell vs. M. E. Frankel, administrator, et al- Suit to quiet title to southeast quarter of northeast quarter of section 12, township 3 south range 12 weet.
21.November 27, 1893The HeraldLos Angeles, CA
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certain that we shall have an easy and a liberal money market, and it requires no explanation to show what that means to the prosperity of this city and of the whole state. We shall not have "money to throw to the birds," as one enthuslast puts it, but there will be ample funds to be had on adequate security and at fair rates of interest for the legitimate development of the whole state. A precisely similar state of things exists in Los Angeles. Our savings banks have given notice that all who desire to do 80 can get their money, although the law allows the banks to keep it in their vaulte until the first of January. The facts of the financial situation are well understood in this city. The depositor, knowing that he can get his money, as usual does not want it, preferring to leave it in a place of safety, where he can make something out of it. In Los Angeles as in San Francisco, after the publication of the January bank statements showing how impregnable our institutions are, a more liberal policy will characterize our banks. This is the more probable because the large disbursements involved in paying our taxes will have been made. The financial history of Los Angeles during the last twenty years has been quite unique. During that period we have had but two bank failures, that of Temple & Workman, in 1875, and the City bank, in the recent panic. Both were unexampled instances of mismanagement. The former followed upon the heele of the failure of the bank of California in 1875, and the latter was a new bank which was run in violation of all the canons of banking. These have been the only instances of the failure of a bank in the history of our young city. The first of January statements of the banks all over California will be looked forward to with great interest, and there is every reason to believe that they will make the best showing in the history of the state, and that their splendid exhibit will be followed by an era of great progress and prosperity.
22.February 13, 1894The HeraldLos Angeles, CA
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The City Bank. All creditors of the City bank are required to make proof of their claims to obtain a receiver's certificate of indebtedness. Pass book or other evidence must be furnished. Proper blanks can be obtained from me. W. J. WASHBURN, Receiver, Room 3, Fulton block, 207 New High street.
23.February 15, 1894The HeraldLos Angeles, CA
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The City Bank. All creditors of the City bank are required to make proof of their claims to obtain a receiver's certificate of indebtedness. Pass book or other evidence must be furnished. Proper blanks can be obtained from me. W. J. WASHBURN, Receiver, Room 3, Fulton block, 207 New High street.
24.January 17, 1895The HeraldLos Angeles, CA
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HORT STORIES OF THE DAY. Court Notes. Sult Against N Defunct Bank. George M. North commenced suit in Judge Smith made an order yesterday Justice Owen's court vesterday against that the trial of Lucien Healy is to folE.E. Crandail, A D. Childress, Cuarles low immediately after the conclusion of that of Feeler. H. Matthay, Thomas Townsend, James R. Fi zwilliam, R. J. Mockenhaupt. M. The trial of Charles S. Parcells, for S. Tvler, Johanna Schallert and Karen forgerv, was set for March 16th, defendA. Danielson, stockholders of the de. ant having pleaded not guilty. The funct City bank. The plaintiff brings court refused to reduce his bail. which four senarate and distinct suits, aggreis net at $1000, but intimated that a cash gating $749, which sum North seeks to deposit of $500 would be accepted. recover on an assigned claim from E. B Charles Daley and Thomas Neal will Brittain. a depositor in the defunct bank. be tried February 21st. in department As will be remembered. the City bank one, on the charge of having aided was closed on June 19, 1893, during the William Brinning to escape from the Los financial crash. Angeles city jail on December 28th.
25.August 16, 1896The HeraldLos Angeles, CA
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e III Ex-Banker Again Making Himself Heard CHARGED CRIMINAL WITH Serious Allegations Made by His Employers HE BETRAYED HIS TRUST Accused by a Stockholder of the Vandercook Wine Company Took Money Belonging to the Company for His Own Use Also Appropriate: the Forms of the Company Which He Turned Over to a Business Rival What Promises to Be an Ugly Scandal A. D. Childress, who will be remebered in this city as the head and front of the defunct City bank of thiscity, which went to the wall during the last financial panic. has again been heard from. After the failure of his bank Childress was made the manager of the local clearing house. which position he held for some weeks. This appointment caused some adverse criticism, and Childress finally resigned, saying that he had been offered and had accepted a responsible position in San Francisco. He then left the city with his family, and nothing has been heard from him since, except from time to time reports have reached Los Angeles that he was doing well and fast recouping his broken fortunes. The following from the San Francisco Call of Friday, however, would seem to indicate that Childress is again in trouble, with the prospect of figuring in the courts in anything but a favorable light Criminal libel is a charge that A. D. Childress, formerly resident and manager of the now defunct City bank of Los Angeles, will probably be called upon to answer. in addition to the accusations of fraud and embezzlement that by were recently brought against him the W. A. Vandercook Wine company a suit for $1200 filed in the county clerk's office. Certain letters that have just come to light will be made the basis of the libel charge. Coming as they do on the trail of the charges that were made against Childress in connection with the City bank, the matter is of more than passing interest. After the failure of the Los Angeles corporation and the subsequent legal difficulties in which Childress and his associates became involved over the transaction. he came to San Francisco, in January 1895. became identified and with the W. Vandercook Wine company in the capacity of secretary. The ex-bank president had influential connections, through whom the eastern drafts of the company on its many agents could be cashed without the delay of waiting for remittances from the east, and such accommodations were just what the company needed at the time So Childress was made secretary and bookkeeper. Up to August of last year Mrs. W. A. Vandercook, who was one of the principal shareholders in the company. was satisfied with the manner in which Childress' end of the business was conducted. and believing implicitly that his reports of the flourishing condition of affairs were correct. "One day when asked to Bee the books. however, says Mrs. Vandercook, Childress refused me any information, and I began to be suspicious. I insisted on detailed statement. telling him that I thought he had drawn more money than he was entitled to. This he admitted. promising. however, not to take more until profits had accrued. so that he could do so under the terms of his agreement. About a month after that he violated that promise, and I censured him for so doing. Then he threatened to wreck the business if I made any further complaint, A saying that could and would doso. few days later, seeing that he could not continue taking money that did not belong to him, he left the company, taking with him lists and addresses of our numerous eastern customers. He took copies of all our printed forms, originated and used by Mr. Vandercook in the business, and entered Harris, Kingston & Co.'s.a competing house on a small scale, getting into that firm through his knowledge of the Vandercook company. "Lacking the power to originate, he copied all our business forms. order blanks, etc., which are entirely different from those of any other company, even of going so far as to use the same kind paper and wording them similarly. Then he wrote to our agents s through out the country on the stationery and over the signature of Harris, Kingston & Co., in such a vindictive and libelous manner that several of our agents : sent the letters to us. advising us to prosecute him for criminal libel. "I thought until the latter part of his connection with the company that he was an honest man. as he was plausible and was always talking of his own honesty and the dishonesty of Southern California people in general. At any rate, he must settle with the courts for taking money that did not belong to him, for y don't propose that the money he took from this company shall be used to pay for the house furniture and lawns of such a man. A.D Childress and his brother W.' Childress owned 494 of the 500 shares in the City Bank of Los Angeles. They borrowed $25,000 from the First National bank of this city on an unsecured note shortly after forming the Pacific Investment company and deeding their propto that corporation. erty The First National bank in its suit against the Childresses alleged that these deeds were not genuine nor placed record, but merely held to be proon duced in the event of attachments by creditors of the bank. complaint further alleged that the bank The magnates were insolvent when the deeds were made. Since coming north A D. Childress has been in minor as well as major legal
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
