Kirksville Trust Company (Kirksville, MO)

Episode Information

Episode UID
80013371479
Episode Type
Suspension β†’ Closure
Bank Type
trust
Bank ID
8001337 routing
Routing Number
80-0133
Start Date
March 1, 1923*
Location
Kirksville, Missouri (40.195, -92.583)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f52975d0f67459fc

Response Measures

None

Description

Failure caused by large cashier shortage and suicide; bank closed and liquidated.

Events (3)

1. March 1, 1923* Other
Newspaper Excerpt
bank examiners ... in charge of the institution; assignment of $500,000 life insurance ... to protect depositors; bank closed in March, 1923 and later liquidated (final dividend announced 1927).
Source
newspapers
2. March 1, 1923* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large embezzlement/shortage by cashier Lonnie F. Gibbs; his suicide in the vault (March 18) precipitated bank's close
Newspaper Excerpt
shortage of approximately $460,000 exists in the accounts of the Kirksville Trust Company... cash ier... committed suicide in the vault March 18
Source
newspapers
3. January 20, 1927 Receivership
Newspaper Excerpt
final dividend of eightninths of per cent will be paid depositors of the defunct Kirksville Trust Company, was announced by Campbell, special finance [commissioner] in charge of the bank since its close in March, 1923
Source
newspapers

Newspaper Articles (7)

Article from San Antonio Light, March 27, 1923

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Article Text

PARENTS SIGN OVER SON'S INSURANCE TO COVER BANK SHORTAGE Cashier Killed Self in Vault-Depositors Will Be Paid. Kirksville. Mo., March 27.-It was learned today that a shortage of approximately $460.000 exists in the accounts of the Kirksville Trust Company. The cashier of the bank. Lonnie F. Gibbs committed suiside in the vault 0 fthe bank March 18. Gibbs carried $600,000 life insurance. and his paients. Mr. and Mrs. Frank W. Gibbs. yesterday assigned $500.000 of the amount over to Dr. H. M. Still, president of the Citizens' National bank. to protect depositors. Mr. and Mrs. Gibbs were beneficiaries of the policies.


Article from The Concordian, April 5, 1923

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MISSOURI News Nuggets LATE STATE EVENTS CONDENSED FOR THE BUSY READER The State Board of Equalization at Jefferson City, in its report just completed, has increased the valuation of farm lands in the state $17,033,422 over the valuations of the State Tax Commission, making increases in 10 counties and decreases in three. In only one county was a change made in personal property valuations. In Vernon County the state board made an increase on notes and bonds of 70 per cent over the Tax Commission figures, or an increase of $558,103. This, added to the net increase on farm lands, makes a total of $17,591,525. Taken together with the valuation on town lots, the total property valuation will be about the same as a year ago. Farm property is slightly decreased in value over last year, while town property showed an increase. The increases by counties are as follows: Atchison, $1,499,462; Bates, $2,099,673; Cass, $892,911; Jackson, $4,467,459; Jasper, $1,334,350; Johnson, $2,317,279; Monroe, $1,515,902; Nodaway, $2,386,062; Saline, $1,810,316; Vernon, $417,539. Valuations in three counties were decreased as follows: Mississippi, $739,939; Pike, $930,382; Stone, $165,020. Police believe a check-forging career dating back to 1914 and extending from coast to coast, has been ended by the arrest of a 70-year-old man at Joplin. The prisoner says the police are wrong. He denies he is the man wanted. He was arrested because he bore a striking resemblance to a photograph of the forger. St. Louis is interested in the case because the forger was there recently. Introducing himself as "Mr. Seeder of Seeder and Woods," he purchased lumber from four concerns, paying by "certified" check, and collecting balances ranging from $20 to $35. The checks later were returned to the lumber firms by the New York bank on which they were drawn, being marked "no such account." The Burns Detective Agency, representing the American Bankers' Association, obtained a photograph of a forger who had operated along similar lines in other cities and it was identified by the lumber people of St. Louis as that of the man who had swindled them. Attorney General Barrett has stated at Jefferson City that he would not announce for two weeks a ruling in regard to the changes made in the housing trust law by the legislature. He said: "I have the request of the Commissioner of Finance for an opinion as to the legal effect of House Bill No. 299, which repeals the statute under which the so-called 'housing trusts' have been operating. I do not think the legal questions involved are at all complicated, but the future action of the Commissioner of Finance in this regard is of considerable importance because of the millions of dollars invested in these organizations by the people of Missouri, and since there will be ample time to thoroughly consider the situation (the new act not taking effect for three months), I think it would be only fair for me to reserve decision for at least two weeks, thereby giving opportunity for the submission of briefs by all interested parties who desire to present legal arguments." The first information that the Marketing Bureau radiophone station at the Capitol building, Jefferson City, had been heard in Hawaii and Alaska, came when messages were received saying the concert broadcast by the St. Joseph Rotary Club delegates recently was heard in Honolulu and Nome. In checking over the returns on the concert the Marketing Bureau announced the concert had been heard in every state in the Union, Garrocheles, Porto Rico, Mexico City, Santiago, Santa Domingo and a number of ships at sea. Two requisitions were granted at Jefferson City by Governor Hyde, both at the request of the Governor of Kansas. B. W. Fahrner, who is wanted in Wichita on the charge of embezzling $1,500 from an insurance company, is under arrest in St. Louis. W. H. Gale, who is wanted for child desertion in Nemeha County, is under arrest in Kansas City. A requisition was asked from the Governor of Iowa for William Koehly, wanted in Livingston County on a statutory charge, who is under arrest in Elkader, Iowa. The United Railways Company of St. Louis, through its receiver, Rolla Wells, filed a reply before the Public Service Commission at Jefferson City to the application of the citizens of Clayton for lower fares. The receiver contends that the present rates to Clayton over its two lines are nonremunerative and a reduction would result in heavy losses. The commission is asked to make a careful investigation before disturbing the present rates, which, the reply states, were in force long ago. B. F. Blanton of Paris, one of Missouri's pioneer newspaper men and for nearly half a century editor of the Monroe County Appeal, died at his home in Paris. Blanton was probably the last survivor of the Missouri-Kansas border war of 1856. He was a Civil War veteran, a Mason, Odd Fellow and member of the Baptist Church. Five sons and three daughters survive him. Capt. Howard C. Bradbury, of the adjutant general's office, left Jefferson City for Clinton, to organize an artillery company of the 128th Field Artillery. Governor Hyde at Jefferson City has designated the week of April 1 as Arbor Week, in the following proclamation: "Whereas, the last decade has witnessed a diminution of our forests and our orchards to a degree which has become cause for grave public concern, and, Whereas, the preservation of our forests and orchards is vitally necessary to our national commerce, as well as to our health and comfort as a people, and, Whereas, forest trees, fruit trees, shrubs, flowers and vines serve our people not only in a practical sense, but as well in an esthetic sense in adding beauty to the landscape, and natural background to the home, and, Whereas, the General Assembly of the State of Missouri long since enacted a statute providing for the annual observance of Arbor Day, and recently, by resolution, reaffirmed the policy of encouraging the planting of fruit, shade and forest trees and of shrubs and vines, now, therefore, I, Arthur M. Hyde, Governor of the State of Missouri, do hereby set apart the week beginning Sunday, April 1, 1923, for the special observance of Arbor Day, as fixed by the statutes of the State of Missouri, and the day, Friday, April 6, 1923, Arbor Day, hereby urging every citizen of the State of Missouri, and particularly every teacher, school boy and girl, in co-operation with the Missouri State Horticultural Society and other civic organizations and movements, on that week to plant fruit, shade and forest trees, as well as shrubs, vines and flowers." It was learned at Kirksville from sources believed to be authentic that the assignment to Dr. H. M. Still of $500,000 life insurance of Lonnie F. Gibbs to protect depositors of the Kirksville Trust Co., was made to cover a shortage in Gibbs' accounts of approximately $460,000. Gibbs was cashier of the trust company and killed himself in the bank's vault on March 18. Dr. Still is president of the Citizens' National Bank. Gibbs carried $600,000 of life insurance in a series of policies, the first of which was issued about seven years ago. The bulk of it was written in the last three years and some of it within the last year. At the time of his death he had an application pending for an additional $50,000. The assignment of the $500,000 was made by his parents, Mr. and Mrs. Frank W. Gibbs, named as the beneficiaries in the policies. The suicide's widow is provided for by an annuity from an unassigned policy. There is talk that the assignment may be opposed in the form in which it was made, for the reason that it provides only for protection of depositors. It is said that the bank examiners, now in charge of the institution, may insist that the assignment be made to read for the protection of the creditors also. Y. M. C. A. and all fraternal buildings are required to pay taxes, according to an opinion written at Jefferson City by Merrill E. Otis, First Assistant Attorney General, and approved by Attorney General Jesse W. Barrett. It is held that Y. M. C. A. buildings, parts of which are rented for dormitories, should be assessed for taxation. The same ruling applies to all fraternal orders, where any part of such property is rented or where the order uses it for other than lodge purposes, i. e., social recreation and entertainment of its members. The opinion also holds that even when the property of a fraternal order is used strictly for lodge purposes it should be assessed for taxation until it has been established in a proper court proceeding that it is "used exclusively for purposes purely charitable" within the meaning of the constitutional provision permitting exemption from taxation. A large number of letters are being received at state offices at Jefferson City, notably by the Attorney General's office, making inquiries as to when bills that passed the Legislature, with emergency clauses attached, will become operative. Not a single measure passed by the Legislature, save the general appropriation bills, will become operative prior to ninety days following the adjournment of the General Assembly, March 26. The trial at Warsaw of Chambers Buckley and Earl Buckley, held for the murder of A. E. Lutman, in May, 1922, was continued until the July term of the circuit court because of the absence of Claude Estes, alleged to have confessed that he was hired by the Buckleys to commit the murder. Estes escaped from the Pettis County Jail, where he was held without bail. The Buckleys were placed in the Henry County jail. William Ferguson, Sr., 62 years old, died suddenly from heart disease on a Missouri Pacific passenger train near Independence. Mr. Ferguson was on his way to his home in Rich Hill from Kansas City. He was born at Fayette, Mo., June 17, 1860, and came to Rich Hill in 1882 with E. F. Swinney, now president of the First National Bank of Kansas City, and established the Farmers' and Manufacturers' Bank of Rich Hill. Permission was granted by the Public Service Commission in Jefferson City enabling the Mount Vernon Telephone Company, Mount Vernon, to sell the Sarcoxie telephone exchange of the company to R. M. Snow of Kansas City. Reduced passenger fares have been authorized from all points in Missouri to Jefferson City for the meeting of the Missouri Association, April 6 and 7, it was announced at Kansas City. The tickets will be on sale April 3 to 7, inclusive, with final return limit of April 11. Bishop W. F. Murray of St. Louis has transferred Rev. Roy P. Basler from the St. Louis Conference to the Fourth Street Methodist Episcopal Church, South, at Moberly, to fill the vacancy made by Rev. W. R. Halberstadt.


Article from Joplin Globe, January 30, 1925

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FINANCE INQUIRY MILLS. PAUGH DENIES ATTORNEY GETS the Associated Press. Jefferson City, Mo., Jan. Inquiry the of the state finance department was begun by the senate general investigating committee. Finance Commissioner Millspaugh was on the stand than an hour day, testifying the employment of attorneys by the department liquidating of closed banks and incidentally gave the committee his opinion the for the "unusual number" of by bank officials. An afternoon session of the committee was prevented by tended argument in senate over senate bill 24. The finance missioner expected to resume the stand Received No for Advice. Senator Frank H. Farris, man of the committee, questioned Millspaugh in particular regard the employment Francis of Louis liquidation failed banks. Millspaugh that consulted Francis most of the bank failure cases but that he no for advice. committee chairman asked Commissioner Millspaugh WAS not true that Francis received from all local employed in liquidating closed banks. "Absolutely the finance commissioner replied, adding that Francis received fees only from cases which he actively gaged. The commissioner necessary that have an versed banking affairs, to consult with quickly tion with bank failures. Millspaugh told the committees the defalcations that resulted the failure the Kirksville Trust Company Kirksville. He suld the unusual that the bank falled for almost twice the amount reputed resources. Millspaugh that Lonnie Gibbs, of the institution, committed had kept duplicate of records the department of the bank.


Article from The Memphis Democrat, May 28, 1925

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FRANK GIBBS PLEADS GUILTY AT CANTON Frank Gibbs, father of Lonnie Gibbs, former cashier of the Kirksville Trust Company, which failed in 1923 plead guilty at Canton, Tuesday receiving deposits when he knew the bank was in an insolvent condition. Lonnie Gibbs committed suicide the bank vault, and it later developed that he had an unusual amount of life insurance, taken out presumably protect the depositors, who it is said will receive almost 100 cents on the Judge E. Gantt of Mexico, who has been visiting Judge Pettingill and family here, tried the case, Judge Cooley being disqualified, was director in the bank. Judge Gantt went to Canton last night to sentence Gibbs, who it understood will get two years in the penitentiary on each two different counts.


Article from The Sarcoxie Record, January 20, 1927

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MISSOURI Nuggets LATE STATE EVENTS CONDENSED FOR Kansas Ehlers, 60, accused by Mrs. Kathryn Ehlers of potsoning her husband, Gus H. Ehlers, brother and former president of the defunct State Bank, committed suicide at the home of another brother, Charles C. Ehlers, Rosedale section of Kansas City, Kan. Death caused by a*bullet from revolver. also had taken poison previousbut its effect was not rapid enough, he made certain of death by shooting himself. He used the kind same of poison that caused the death of his brother, Gus Ehlers. Jefferson invitation to address joint meeting of the Missouri House of and the Senate was extended Timothy Smiddy of Cork, Ireland, in concurrent resolution introduced in the Senate by Senator Casey, Democrat, Kansas City. Smiddy will speak on the FarmWeek program at the University Missouri, January 19. He has been invited to address the joint assembly on January 20. He is Minister Plenipotentiary from the Irish Free State the United States. Jefferson desire of county court curtail expenses is not good reason for dispensing with the services of superintendent of public welfare, it was held by Attorney General Gentry, in an opinion sent to the prosecuting attorney of Stoddard County. Eleven months ago the county court appointed such an officer for term three years, and now wants dispense with the officer on the grounds of economy. Kansas Baronne's favorite his life. Barrone, cabaret singer, and two companions entered the Nightingle Cabaret, formerly the Edwards Cafe, and sauntered through the crowd toward the barroom. In the center of the room he took revolver from his pocket. waiter barred his way. Barrone had been there before and frightened patrons with his revolver. Jefferson No. under the compensation law was received hΓ©re by Commissioners Phillips, Shaw and Richardson. James Ross, 23, working for Smith Brothers, contractors of Kansas City, was hurt January by rock falling from the roof tunnel. The commission directed immediate payment of the claim for Ross's injuries. has been started on the $4,000,000 dam on Black River, near Leeper. Workmen encountered rock depth of feet. Other holes will be sunk and engineers are confident that they have located solid base for the project. Letha Ann Kennedy, 83, died at her home in Caplinger Mills. She had spent her entire life in the same community. single casket, in single grave in country cemetery, two miles from where their home, now in ashes, once stood, the charred bodies of Mrs. Rex Ambley and her two small sons were burled. The three perished in fire that destroyed the Ambley home. Four other members of the famthe father and three children, were injured. fire breaking out in the cotton house Meyer Brothers' Ginning Company for time threatened to destroy the $65,000 gin. ton house and supplies valued $4,000 destroyed. St. H. Moyes, farmer northeast of Union Star, burned to death when his barn was destroyed by fire. He was 37 years old and widow and child. final dividend of eightninths of per cent will be paid depositors of the defunct Kirksville Trust Company, was announced by Campbell, special finance charge of the bank since its close in March, 1923, after Lonnie Gibbs, cashier, was found dead in the vault. death of Thomas Fitz of Des Are followed by the death of his wife. Fritz was Confedveteran and newspaper writer. Edgar Moore, 84, native Callaway County and who graduated from Lindenwood College at St. Charles 67 years ago, is dead at her home in Los Angeles, according to advices received here. She was taken III while to reception preparing go in Los Angeles honor of President and Mrs. Roemer of Lindenwood. West West Plains Chamber of Commerce unanimously indorsed the proposed $100,000,000 road bond Issue. This organization claims the distinction of originating and workout the first details of the issue. Pitcher Jack Bentley and Coach Miller of the New York Giants, who have hunting and fishing lodge in the Ozark hills, among the guests. killed when he crushed beneath wagon load of lumber, about 15 miles northeast of Columbia. The wagon had become uncoupled, and- was either thrown from to his death or had gotten off to attempt to make and was caught under the load. Wainscott, road was hauling lumber to repair bridge. blaze was discovered the roof of the home of Mrs. on Fannie Williams, "Uncle Dick" Worsham, climbed on top of the house and extinguished the flames.


Article from The Republic Monitor, January 20, 1927

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MISSOURI News Nuggets LATE STATE EVENTS CONDENSED FOR THE BUSY READER Kansas Ehlers, cused by Mrs. Kathryn Ehlers of potsoning her husband, Gus H. Ehlers, brother and former president of the defunct Roanoke State Bank, commitsuicide at the home of another brother, Charles Ehiers, Rosedale section of Kansas City, Kan. Death caused bullet from revolver. Ehlers also had taken poison previousbut Its effect was not rapid enough, he made certain of death by shooting himself. He used the same kind poison that caused the death of his brother, Gus H. Ehlers. Jefferson invitation to dress joint meeting of the Missouri House of Representatives and the Senate was extended Timothy Smiddy of Cork, Ireland, concurrent resolution introduced in the Senate by Senator Casey, Democrat, Kansas City. Smiddy will speak on the FarmWeek program at the University Missouri, January 19. He been invited to address the joint assembly on January 20. He Minister Plenipotentiary from the Irish Free State the United States. Jefferson desire of county court to curtail expenses Is good reason for dispensing with the services of superintendent of public welfare, was held by Attorney General Gentry, in an opinion sent to the prosecuting attorney of Stoddard County. Eleven months ago the county court appointed such an officer for term of three years, and now wants dispense with the officer the grounds of economy. Kansas Baronne's favhis life. Barrone, cabaret singer, and two companions entered the Nightingle Cabaret, formerly the Edwards Cafe, and sauntered through the crowd toward the barroom. In the center the room he took revolver from his pocket. waiter barred his way. Barrone had been there before and frightened patrons with his revolver. Jefferson No. under the workmen's compensation law was received here by Commissioners Phillips, Shaw and Richardson. James Ross, 23, working for Smith Brothers, contractors of Kansas City, was burt January rock falling from the roof tunnel. The commission rected immediate payment of the claim for Ross's injuries. has been started on the $4,000,000 dam on Black Rivew, near Leeper. Workmen encountered rock depth of feet. Other holes will be sunk and engineers are confident that they have located solid base for the big project. Letha Ann Kennedy, 88, died her home in Caplinger Mills. She had spent her entire life In the same community. single casket. in single grave in country cemetery, two miles from where their home. in ashes, once stood. the charred bodles of Mrs. Rex Ambley and her small sons were burled. The three perished fire that destroyed the Ambley home. Four other members of the famBy. the father and three children, were injured. fire breaking out In the cotton house of the Meyer Brothers' Ginning Company for time threatened to destroy the $65,000 gin. cotton house and supplies valued $4,000 destroyed. St. H. Moyes, farmer northeast of Union Star. was burned death when his barn was destroyed by fire. He was 37 years old and leaves widow and child. final eightninths of per cent will be paid positors of the defunct Kirksville Trust Company, It announced by Campbell, special finance er. in charge of the bank since Its close cashier. found dead the vault. death of Thomas Fitz of Are followed by the death of his wife. Fritz Confederate veteran writer. Edgar Moore, 84, native of Callaway County and who graduated from Lindenwood College at St. Charles 67 years ago, dead her home in Los Angeles. according to advices received here. She was taken m while preparing go to reception in Los Angeles in honor of President and Mrs. Roemer of Lindenwood West West Plains Chamber of Commerce unanimously indorsed the proposed $100,000,000 road bond Issue. This organization claims the distinction of originating and working out the first details of the Issue. Pitcher Jack Bentley and Coach Miller the New York Glants, who have hunting and fishing lodge in the Ozark hills, were among the guests. Wainscott, 46, killed when he was crushed beneath wagon load of lumber, about 15 miles northeast Columbia. The wagon had become uncoupled. and he either thrown from to his death or had gotten off to attempt to make pairs and was caught under the load. Wainscott, road overseer, was hauling lumber to repair bridge. blaze was discovered on the roof of the home of Mrs. Williams, "Uncle Dick" WorFannie climbed on top of the house and extinguished the flames.


Article from The Jasper County News, January 27, 1927

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MISSOURI News Nuggets LATE STATE CONDENSED FOR BUSY READER Kansas Ehlers, 60, cused by Kathryn Ehiers soning her husband, Gus brother former the defunct Roanoke State Bank, committed suicide at the home of another brother, Charles Ehiers, Rosedale section of Kansas City, Kan. Death caused by bullet from revolver. Ehlers also had taken poison previously, but Its effect was not he made certain of death by shooting himself. He used the same kind poison that caused the death of his brother, Gus H. Ehlers. Jefferson invitation dress meeting of the Missouri House of Representatives and the Senate was extended Timothy Smiddy of Cork, Ireland, in conΓ§urrent resolution introduced in the Senate by Senator Casey, Democrat, Kansas City. Smiddy will the Farmers' Week program at the University Missouri, January 19. He has been invited to address the joint assembly January 20. He is Minister Plenipotentiary from the Irish Free State the United States. Jefferson desire of county court to curtail expenses is not good reason for dispensing with the services of of public welfare, was held by Attorney General Gentry, in an opinion sent to the prosecuting attorney of Stoddard County. Eleven months ago the county court appointed such an officer for term of three years, and now wants to dispense with the officer on the grounds economy. Kansas Baronne's favorite his life. Barrone, cabaret singer, and two companions entered the Nightingle Cabaret, formerly. the Edwards Cafe, and sauntered through the crowd toward the barroom. In the center of the room he took revolver from his pocket. waiter barred his Barrone had been there before and frightened patrons with his revolver. Jefferson No. under the workmen's compensation law was received here by Commissioners Phillips, Shaw and Richardson. James Ross, 23, working for Smith Brothers, contractors of Kansas City, was hurt January by rock falling from the roof of tunnel. The commission rected immediate payment of the claim for Ross's injuries. on the $4,000,000 dam on Black Rivew, near Leeper. Workmen encountered rock depth of feet. holes will be sunk and engineers are confident that they have located solid base for the big project. Letha Ann Kennedy, died at her home in Caplinger Mills. She had spent her entire life in the same community. single casket, In single grave in country cemetery, two miles from where their home. now in ashes, once stood, the charred bodies Mrs. Rex Ambley and her two small sons were burled. The three perished fire that destroyed the Ambley home. Four other members of the famIly, the father and three children, were injured. fire breaking out in the cotton house of the Meyer Brothers' Ginning Company for time threatened to destroy the $65,000 gin. ton house and supplies valued $4,000 were destroyed. H. Moyes, farmer northeast of Union Star, was burned to death when his barn was destroyed by fire. He was old and leaves years widow and child. dividend of eightninths of per cent will be paid depositors of the defunct Kirksville Trust Company, It was announced by Campbell, special finance commissioncharge of the bank since its close in March, 1923, after Lonnie Gibbs, cashier, was found dead in the vault. death of Thomas Fitz of Des Are was followed by the death of his wife. Fritz was Confederate veteran and writer. Edgar Moore, 84, native of Callaway County and who graduated from Lindenwood College St. Charles 67 years ago, is dead at her home in Los Angeles, according to advices received here. She was taken while preparing to reception Los Angeles in honor of President and Mrs. Roemer of Lindenwood. West West Plains Chamber of Commerce unanimously indorsed the proposed $100,000,000 road bond issue. This organization claims the distinction of originating and workout the first details of the issue. Pitcher Jack Bentley and Coach Miller the New York who have hunting and fishing lodge in the Ozark hills, among the guests. Wainscott, 46, killed when he crushed beneath wagon load of lumber, about 15 miles northeast Columbia. The wagon had become uncoupled, and he was either thrown from to his death had gotten off to attempt make pairs and was caught under the load. Wainscott, road overseer, was hauling lumber to repair bridge. blaze was discov. the roof the home Mrs. Williams, Dick" climbed top the the