National Deposit Bank (Philadelphia, PA)

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Episode Information

Episode UID
792901303
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
79290 national
Charter Number
7929
Start Date
July 14, 1908
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e403dff97ed1112f

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1908-07-14
Date receivership terminated
1910-06-28
OCC cause of failure
Losses
Share of assets assessed as good
55.7%
Share of assets assessed as doubtful
22.7%
Share of assets assessed as worthless
21.6%

Events (4)
1. September 29, 1905 Chartered
Source
historical_nic
2. July 14, 1908 Receivership
Source
historical_nic
3. July 14, 1908 Receivership
Newspaper Excerpt
Milton C. Elliott was appointed receiver
Source
newspapers
4. July 14, 1908 Suspension
Cause
Government Action
Cause Details
Closed by order of the Comptroller/Controller of the Currency after examiner found persistent failure to maintain required lawful money reserve
Newspaper Excerpt
The National Deposit Bank of Philadelphia was closed to-day by direction of the Controller of the Currency
Source
newspapers

Newspaper Articles (20)
1. July 15, 1908 New-York Tribune New York, NY
Article from New-York Tribune, July 15, 1908

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NATIONAL BANK CLOSED. Philadelphia Institution Accused of Neglecting Reserve. Washington, July 14. .-The National Deposit Bank of Philadelphia was closed to-day by direction of the Controller of the Currency, and Milton C. Elliott was appointed receiver. The closing of the bank was under orders received by National Bank Examiner William M. Hardt. The Acting Controller of the Currency said that the bank was closed because of "persistent and continuous disregard of the requirements of law with respect to the maintenance of lawful money reserve," and was in a generally unstisfactory condition otherwise. This is the first time in the history of the service that a bank has been closed on account of violation of the law with respect to reserve requirements. The bank, according to the Controller's office, is heavily indebted to the United States Treasury on account of the 5 per cent redemption fund. Philadelphia, July 14.-The National Deposit Bank, of this city, which was closed to-day, was organized three years ago. The suspension of the bank resulted from an examination of its affairs by William N. Hardt, of this city, a national bank examiner. The cause of the bank's enforced suspension was its lack of the required reserve of 25 per cent of its deposits. Although a national bank, the institution never became a member of the Philadelphia Clearing House Association, and was considered a small financial concern. None of the directors would give any explanation of the failure other than that business had been bad because of the recent financial depression, and that many depositors had been compelled to reduce their accounts.

2. July 15, 1908 The Star and Newark Advertiser Newark, NJ
Article from The Star and Newark Advertiser, July 15, 1908

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NATIONAL DEPOSIT BANK IN CHARGE OF RECEIVER. PHILADELPHIA, July 15.-Under orders from the Comptroller of the Cur-

3. July 15, 1908 The Marion Daily Mirror Marion, OH
Article from The Marion Daily Mirror, July 15, 1908

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SHORT PARAGRAPHS. Judge Alton B. Parker says he in tends to offer his services to the Democratic national committee as 8 campaign speaker. The National Deposit bank of Phil. aelphia has been closed by direction of the comptroller of the currency, and a receiver appointed. The bank is a small concern. Frederick Glow, the chauffeur who was in charge of William R. Hutch ing's automobile when it was hit by a Long Island train recently, the own er, his wife and child being killed, has become a raving maniac as a re sult of the accident. While in charge of a road building squad of convicts near Orange, Va.. C. W. Browning was attacked by five of the men. He was overpowered and his guns taken from him, after which the five convicts made their escape. Two of the men were re captured.

4. July 15, 1908 The Washington Herald Washington, DC
Article from The Washington Herald, July 15, 1908

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PHILADELPHIA BANK CLOSED. Persistent Disregard of the Law Is Cause for the Act. The National Deposit Bank, of Philadelphia, Pa., was closed yesterday by National Bank Examiner Hardt, by direction of the Comptroller of the Currency. Milton C. Elliott. of Washington, has been appointed receiver. The Acting Comptroller stated that this bank was closed because of persistent and continuous disregard of the requirements of law with respect to the maintenance of lawful money reserve, and was in a generally unsatisfactory condition. This is the first time in the history of the service that a bank has been closed on account of violation of the law with respect to reserve requirements, The bank is also heavily indebted to the United States Treasury on account of the 5 per cent redemption fund.

5. July 15, 1908 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 15, 1908

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News of the Day. Mrs. Minor Morris, who was jected from the White House, has escaped from the Missouri State Hospital for the Insane. In the final of the three mile team run at the Olympia today in London, Deakin, of Eogland was first; United States second and France third. Four editors and three cartoonists of the Fhiladelphia North American, accused by Mayor Reyburn with criminal libel, gave bail yesterday and the trial was set for the next term of court. Lester Sisson, aged 18 and Walter Sisson, aged 12, brothers were browned today off the mouth of the Oawcatuck river in Little Narragansett Bay. The boys were out in a small dory fishing. Thomas D. Jordan, formerly comptroller of the Equitable and custodian of the "yellow dog fund" (campaign contributions) dropped dead in the Wall street subway station in New York yesterday evening. Warrants charging embezzlement and destruction of public papers were issued yesterday against J. Barton Miller, the deposed secretsry-treasurer of the first Co-operative Building Association of Georgetown. He was released on bail. The country mansion of George L. Elkins, near Philadelphia, was struck by lightning yesterday evening and gutted by fire, which followed, but nearly all the art treasures in the house were saved. The loss will reach $100,000. The National Deposit Bank, of Philadelphia, organized three years ago, was closed yesterday by order of the comproller of the currency. The cause of the bank's enforced suspension was it slack of required reserve of 25 per cent of its deposits. A storm breaking the hot wave, swept over New York City and vicinity yesterday, doing great damage. It was accompansed by terrific lightoing and some bail. One man was killed and several lines of railway were tied up, including the McAdon tunnel. At a meeting in Wash ngton significant for its lack of euthosiasm and marked by a great display of radicalism, William Randolph Hearst and John Temple Graves were indorsed last night as the candidates of the independence party, of which Mr. Hearst is the father.

6. July 15, 1908 Evening Star Washington, DC
Article from Evening Star, July 15, 1908

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IN RECEIVERS' HANDS. Controller Orders National Bank in Philadelphia Closed. PHILADELPHIA, July 15.-The National Deposit Bank of this city, organized three years ago, has been closed by order of the controller of the currency at Washington. Milton C. Elliott of Washington. representing the controller, was appointed receiver, and will assume charge of the bank tomorrow. The suspension of the bank resulted from an exhaustive examination of its affairs by William M. Hardt of this city, a national bank examiner. Pending the arrival of Receiver Elliott. Mr. Hardt would not make a statement. but from authentic sources it is learned that the cause of the bank's enforced suspension was its lack of the required reserve of 25 per cent of its deposits. Although a national bank, the institution never became a member of the Philadelphia Clearing House Association. According to the last statement made to the controller of the currency, at the close of business May 14 last, the deposits were $662,138, a decrease of $27,133 compared with the corresponding period of last year. Its surplus and undivided profits amounted to $201,108, an increase over the previous year of $630. The bank paid no dividends, and its earnings for the last year were only $630.

7. July 15, 1908 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, July 15, 1908

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PHILADELPHIA BANK CLOSED BY COMPTROLLER Washington. D. C., July 14.-The National Deposit bank of Philadelphia was closed today by direction of the comptroller of the currency and M. C. Elllott was appointed receiver. The closing of the bank was under orders received by National Bank Examiner William M. Hardt. The noting comptroller of the curreney stated that this bank was closed "because of persistent and continuous disregard of the requirements of the law with respect to the maintenance of lawful money reserve and was in a generally unsatisfactory condition otherwise." This is the first time in the history of the service that a bank has been closed on account of violation of the law with respect to reserve requirements. The bank. according to the comptroller's office, is heavily indebted to the United States treasury on account of the five per cent redemption fund A dispatch from Philadelphia ways the National Deposit bank was a small concern. The deposits amounted to only a trining

8. July 15, 1908 The Morning Journal-Courier New Haven, CT
Article from The Morning Journal-Courier, July 15, 1908

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NATIONAL BANK CLOSED. Comptroller Appoints Receiver for Philadelphia Institution. Washington, July 14.-The National Deposit bank of Philadelphia, was closed today by direction of the comptroller of the currency, and Milton C. Elliott was appointed receiver. Philadelphia, July 14.-The National Deposit bank of this city, which was closed by the comptroller of the currency after banking hours today, was a small concern. It was organized several years ago and never did a large business, the deposits at. the time it was closed amounting to only a trifing sum.

9. July 16, 1908 The Oskaloosa Herald Oskaloosa, IA
Article from The Oskaloosa Herald, July 16, 1908

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NATIONAL BANK IS CLOSED. Philadelphia Concern Did Not Observe the Reserve Requirements. I Philadelphia, July 15.-The National Deposit bank of this city, organized three years ago, was closed Tuesday by order of the comptroller of the cur rency at Washington. Milton C. Elli ott of Washington was appointed receiver. The suspension resulted from an ex haustive examination of its affairs by William M. Hardt, a national bank ex aminer, Pending the arrival of Re ceiyer Elliott, Mr. Hardt would not make a statement, but from authentic sources it is learned that the cause of the bank's enforced suspension was its lack of the required reserve of 25 per cent. of its deposits.

10. July 16, 1908 The Times Dispatch Richmond, VA
Article from The Times Dispatch, July 16, 1908

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PHILADELPHIA BANK CLOSED. Controller of Currency Puts Small Concern in Receiver's Hands. PHILADELPHIA, July 15.-Acting on the order of the Controller of the Currency, William M. Hardt. national bank examiner, has closed the National Deposit Bank of Philadelphia, and later Milton C. Elliott, of Washington, was appointed receiver. As shown by its last report, the bank had deposits of only $660,674. The National Deposit Bank was orgainzed by the late Major John F. Phinney, formerly Assistant Treasurer of Philadelphia. It was one of the smallest and most inconsequential among this city's banks and was established in 1905. being the latest organized here under the national bank act. It has never been ai member of the Philadelphia clearing-house. F. M. Peet, president of the bank, had close business relations with Chas. W. Morse. After the financial troubles in New York last fall it was arranged that Mr. Peet would buy the Morse stock holding in the National Bank of New Amsterdam, of New York. At the time bankers here were skeptical about this announced transaction and no surprise was felt at the subsequent news that the deal had miscarried. The Acting Controller of the Currency stated that the bank was closed because of "persistent and continuous disregard of the requirements of law with respect to the maintenance of lawful money reserve. and was in a generally unsatisfactory condition otherwise." The bank, according to the Controller's office, is heavily indebted to the United States Treasury on account of the 5 per cent. redemption fund.

11. July 23, 1908 The Greenville Journal Greenville, OH
Article from The Greenville Journal, July 23, 1908

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GENERAL NEWS. Princess Amelie Louise of Furstenburg and Gustav Kozian, an employe of an automobile firm, with whom she eloped last May, were married in the castle chapel at Kammerberg, Austria. Several fatal encounters between strikers and officers took place in Alabama and Gov. Comer ordered out the state troops. Persian revolutionists routed the government forces at Tabriz and sacked the houses of officials. President McCrea of the Pennsylvania company said the decision of the conference of railway presidents in New York was that the time was not opportune for raising freight rates. Waldorf Astor, the eldest son of William Waldorf Astor, was chosen as conservative candidate for member of parliament from Plymouth at the next general election. Frank Johnson, colored, was hanged at Moundsville. Va., for the murder of Mrs. Beulah Martin. He confessed to five other murders. William Hill, a barber at the Soldiers' Home in Milwaukee. killed himself after he had killed Mrs. Kimbell, said to have been his wife, though known by the name of a former husband. and Joe Biettner. Three thousand two hundred men of the Atlantic battleship fleet, all wearing leis, paraded the streets of Honolulu. The Farmers & Merchants' Banking company of Cleveland, O., failed after a run by its depositors. Fire believed to have been of incendiary origin destroyed the plant of the Elk Tanning company at Everett, Pa., the loss being $350,000. Charles W. Hamilton, assistant district attorney of Allegheny county, Pennsylvania, residing at Elizabeth, committed suicide because of ill health. Olga, Wilhelmina and Frederica, triplets born January 10 to Mrs. Adolph Liepold, wife of the gardener of the Lutheran cemetery at Newtown, N. Y., are dead, as the result of the heat. Assistant Secretary of the Interior E. Wilson, W. de C. Ravenel of the itional museum and W. M. Geddes of easury department were appointed the president as a United States overnment board of managers of the laskan-Yukon exposition at Seattle, ash. Joines Phillips, a farmer, committed ide in Oskaloosa, Ia., by drinking holic acid in olive oil. unes Guyot and his son were killed lightning near Clay City, III. Fire in the town of Orcutt, Cal., in he Santa Maria oil fields, destroyed property valued at $200,000. Frank H. Montgomery, a leading physician of Chicago, and his stenographer, Mrs. Head, were drowned while sailing in White lake, Michigan. Mrs. Catherine Bruha, aged 75, and her grandson, aged 14, were probably fatally burned in a mysterious explosion in La Crosse, Wis. Lightning struck and destroyed the beautiful summer home of George W. Elkins at Ogontz, a suburb of Philadelphia. H. L. Palmer, president of the Northwestern Life Insurance company, retired after 50 years' service with the company. The National Deposit bank of Philadelphia was closed by direction of the comptroller of the currency because it had not kept its reserve up to requirements. Religious warfare among Austrian miners near Brigham, Utah, resulted in several murders.

12. July 23, 1908 Audubon Republican Audubon, IA
Article from Audubon Republican, July 23, 1908

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GENERAL NEWS. Princess Amelie Louise of Furstenburg and Gustav Kozian, an employe of an automobile firm, with whom she eloped last May, were married in the castle chapel at Kammerberg, Austria. Several fatal encounters between strikers and officers took place in Alabama and Gov. Comer ordered out the state troops. Persian revolutionists routed the government forces at Tabriz and sacked the houses of officials. President McCrea of the Pennsylvania company said the decision of the conference of railway presidents in New York was that the time was not opportune for raising freight rates. Waldorf Astor, the eldest son of William Waldorf Astor, was chosen as conservative candidate for member of parliament from Plymouth at the next general election. Frank Johnson, colored, was hanged at Moundsville, Va., for the murder of Mrs. Beulah Martin. He confessed to five other murders. William Hill, a barber at the Soldiers' Home in Milwaukee, killed himself after he had killed Mrs. Kimbell, said to have been his wife, though known by the name of a former husband, and Joe Biettner. Three thousand two hundred men of the Atlantic battleship fleet, all wearing leis, paraded the streets of Honolulu. The Farmers & Merchants' Banking company of Cleveland, O., failed after a run by its depositors. Fire believed to have been of incendiary origin destroyed the plant of the Elk Tanning company at Everett, Pa., the loss being $350,000. Charles W. Hamilton, assistant district attorney of Allegheny county, Pennsylvania, residing at Elizabeth, committed suicide because of ill health. Olga, Wilhelmina and Frederica, triplets born January 10 to Mrs. Adolph Liepold, wife of the gardener of the Lutheran cemetery at Newtown, N. Y., are dead, as the result of the heat. Assistant Secretary of the Interior J. E. Wilson, W. de C. Ravenel of the National museum and W. M. Geddes of treasury department were appointed by the president as a United States government board of managers of the Alaskan-Yukon exposition at Seattle, Wash. James Phillips, a farmer, committed suicide in Oskaloosa, Ia., by drinking carbolic acid in olive oil. James Guyot and his son were killed by lightning near Clay City, III. Fire in the town of Orcutt, Cal., in the Santa Maria oil fields, destroyed property valued at $200,000. Frank H. Montgomery, a leading physician of Chicago, and his stenographer, Mrs. Head, were drowned white sailing in White lake, Michigan. Mrs. Catherine Bruha, aged 75, and her grandson, aged 14, were probably fatally burned in a mysterious ex. plosion in La Crosse, Wis. Lightning struck and destroyed the beautiful summer home of George W. Elkins at Ogontz, a suburb of Philadelphia. H. L. Palmer, president of the Northwestern Life Insurance company, retired after 50 years' service with the company. The National Deposit bank of Philadelphia was closed by direction of the comptroller of the currency because it had not kept its reserve up to re.

13. December 31, 1908 The Rich Hill Tribune Rich Hill, MO
Article from The Rich Hill Tribune, December 31, 1908

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Texas saving bank, placed in receiver's hands. 18—John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21—Capital State Bank, Boise, Idaho, suspended. 22—Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25—National Bank of North America, New York, closed for liquidation, by order of government. 29—New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31—Oriental Bank of New York closed doors, following run. Feb. 13—W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26—International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27—Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13—John R. Walsh denied new trial; sentenced to five years in federal prison. 16—People's National bank, Aspin, Col., closed. Apr. 1—Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21—Bank of Wauseon, Wauseon, O., closed doors. 24—T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8—Euclid Avenue Trust Co., Cleveland, O., assigned. 14—Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28—G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 2—Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23—Citizens' bank, Dover, Ky., closed doors. Jul. 14—National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17—Farmers and Merchants' Banking Co., Cleveland, O., failed. Aug. 6—First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25—A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10—A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16—Union National bank, Sommerville, Pa., closed by government. Nov. 5—Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6—C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. 23—Eldred bank of Eldred, Pa., suspended; capital stock, $100,000. Dec. 7—National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11—Springport, Mich., State Savings bank closed by bank examiner.

14. January 2, 1909 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, January 2, 1909

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Texas saving bank, placed in receiver's hands. 18—John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21—Capital State Bank, Boise, Idaho, suspended. 22—Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25—National Bank of North America, New York, closed for liquidation, by order of government. 29—New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31—Oriental Bank of New York closed doors, following run. Feb. 13—W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26—International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27—Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13—John R. Walsh denied new trial; sentenced to five years in federal prison. 16—People's National bank, Aspin, Col., closed. Apr. 1—Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21—Bank of Wauseon, Wauseon, O., closed doors. 24—T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8—Euclid Avenue Trust Co., Cleveland, O., assigned. 14—Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28—G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3—Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23—Citizens' bank, Dover, Ky., closed doors. Jul. 14—National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17—Farmers and Merchants' Banking Co., Cleveland, O., failed. Aug. 6—First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25—A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10—A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16—Union National bank, Sommerville, Pa., closed by government. Nov. 5—Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6—C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. 23—Eldred bank of Eldred, Pa., suspended; capital stock, $100,000. Dec. 7—National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11—Springport, Mich., State Savings bank closed by bank examiner.

15. January 7, 1909 The Hickman Courier Hickman, KY
Article from The Hickman Courier, January 7, 1909

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Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank. Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg. Pa., closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capItal $1,000,000, and Mechanies and Traders' bank, both of New York. taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors. following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. 16-People's National bank, Aspin, Col., closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon, Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, falled; liabilities, $1,800,000. Jun. 3-Kosciusko Company bank, Warsaw. Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed doors. Jul. 14-National Deposit bank. Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine deetsion unanimously reversed by United States court of appeals at Chieago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency: bank was insolvent: President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16-Union National bank, Sommerville, Pa., closed by government. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years: Curtis given liberty on suspended sentence. 23-Eldred bank of Eldred. Pa., suspended; capital stock, $100,000. Dec. 7-National exchange bank at Springfield, Mo., closed: excitement caused by effort of W. O. Oldham. cashier of State Savings bank. to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed. following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors,

16. January 7, 1909 The Hayti Herald Hayti, MO
Article from The Hayti Herald, January 7, 1909

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TODO ICAN Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 22-Traders and Mechanics' Bank, Pittsburg. Pa. closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000. and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euelid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg. Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosclusko Company bank, Warsaw, Ind., closed by state auditor. Jul. 14-National Deposit bank, Philadel. phia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine declsion unanimously reversed by United States court of appeals at Clilcago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty : of misapplication of funds and falsifying books of National Bank of AmerI Ica, New York. I 6=C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. Dec. 7-National exchange bank at 1 Springfield, Mo. closed; excitement , caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union Na. . tional bank. 11-Springport, Mich., State Savings bank 1 closed by bank examiner. 16-Somersworth, N. H., First National 9 bank closed, following discovery of shortage of $85,000. 1 23-Thomas F. Ryan announced retirement from finance. : 26-Henry W. Poor, New York broker, assigned for creditors. a

17. January 7, 1909 Marble Hill Press Marble Hill, MO
Article from Marble Hill Press, January 7, 1909

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Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank, Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg. Pa., closed doors. %-National Bank of North America. New York, closed for liquidation, by order of government. 29-New Amsterdam National bank. captal $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors, following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial: sentenced to five years in federal prison. 16-People's National bank, Aspin, CoL, closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon. Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May S-Euclid Avenue Trust Co., Cleveland. O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg. Pa., stockbrokers, falled: liabilities, $1,800,000. Jun. 3-Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed doors. Jul. 14-National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine declsion unanimously reversed by United States court of appeals at Chiengo. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency: bank was insolvent: President J. G. Lund committed suicide 25-A. O. Brown & Co., one of largest New York brokerage firms, failed: liabilities over $1,000,000 Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16-Union National bank, Sommerville, Pa., closed by government. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years: Curtis given liberty on suspended sentence. 23-Eldred bank of Eldred. Pa., suspended: capital stock, $100,000. Dec. 1-National exchange bank at Springfield, Mo., closed: excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed, following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors.

18. January 7, 1909 Cameron County Press Emporium, PA
Article from Cameron County Press, January 7, 1909

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Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank, Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25-National Bank of North America, New York. closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors, following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a. Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. 16-People's National bank, Aspin, Col., closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon, Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed doors. Jul. 14-National Deposit bank. Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $20,240,000 fine decision unanimously reversed by United States court of appeals at Chiengo. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency: bank was insolvent: President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16-Union National bank, Sommerville, Pa., closed by government. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. 23-Eldred bank of Eldred, Pa., suspended; capital stock, $100,000. Dec. 7-National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed, following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors.

19. January 8, 1909 Washington Telegraph Washington, AR
Article from Washington Telegraph, January 8, 1909

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o tional bank and se railroads, convicted of msapprop aring institution's f funds. 22-Traders and Mechanics' Bank, Pittsburg, Pa. closed doors. t 25-NationalBank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. Feb. of 13-W. B. Ridgely, comptroller currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosciusko Company bank, Warsaw, Ind., closed by state auditor. Jul. 14-National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard Oil $29,240,000 fine decision unanimously reversed by United States court of appeals at Chicago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 5-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. ep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. OV. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of AmerIca, New York. -C. W. Morse sentenced to 15 years; Curtis given liberty on suspended senlence. ec. 7-National exchange bank at Springfield, Mo., closed; excitement aused by effort of W. O. Oldham, ashier of State Savings bank, to shoot President H. B. McDaniel, of Union Nadonal bank. Springport, Mich., State Savings bank losed by bank examiner. Somersworth, N. H., First National ank closed, following discovery of hortage of $85,000. Thomas F. Ryan announced retire2 ent from finance. Henry W. Poor, New York broker, as2 gned for creditors.

20. January 8, 1909 Times-Promoter Hernando, MS
Article from Times-Promoter, January 8, 1909

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Tas, Tex., Targest Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 22-Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3-Kosclusko Company bank, Warsaw, Ind., closed by state auditor. Jul. 14-National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine declsion unanimously reversed by United States court of appeals at Chieago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. Dec. 7-National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed "by bank examiner. 16-Somersworth, N. H., First National bank closed, following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors.