American Loan & Trust Company (Omaha, NE)

Episode Information

Episode UID
817123491123
Episode Type
Suspension โ†’ Reopening
Bank Type
trust
Bank ID
81712349 hash
Start Date
July 5, 1893
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
071226610ed664fd

Response Measures

None

Description

Receiver was appointed at stockholders' request; receiver discharged about a month later.

Events (2)

1. July 5, 1893 Receivership
Newspaper Excerpt
The American Loan and Trust company ... went into the hands of a receiver this afternoon at the request of the stockholders.
Source
newspapers
2. August 3, 1893 Reopening
Newspaper Excerpt
The American Loan and Trust Company is on its feet again. The receiver was discharged by the courts.
Source
newspapers

Newspaper Articles (12)

Article from Grand Rapids Herald, July 6, 1893

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ASKED FOR A RECEIVER. An Omaha Trust Company Concern Dragged Down by a Texas Failure OMAHA, Neb., July --The American Loan and Trust company of this city, O.M. Carter president and C.S. Mont. gomery vice president, went into the hands of a receiver this afternoon at the request of the stockholders. The com. pany has a paid up capital of $400,000 has done a good business, and has been considered a sound institution. The cause of the failure was the failure yes terday at Houston, Texas, of the Omaha & Houston Improvement company, a town enterprise in which the American Lean & Trust company had $230,000 The directors of the American Savings


Article from St. Paul Daily Globe, July 6, 1893

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Gone Into Liquidation. OMAHA, Neb., July 5.-The American Savings bank has gone into voluntary liquidation and has asked the state banking board to wind up its affairs. This action is due to the failure of the American Loan and Trust company, which was yesterday afternoon placed in the hands of a receiver at the instance of the directors of that concern, the investment company being the principal stockholder in the savings bank. The failure of the investment company is attributed to the failure of the Omaha & South Nebraska Land company.


Article from The Sun, August 4, 1893

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A Trust Company Resumes Business. OMAHA. Aug. 3.-The American Loan and Trust Company is on its feet again. The receiver was discharged by the courts. There are many Eastern stockholders.


Article from Rock Island Daily Argus, August 4, 1893

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One Company in Excellent Shape. OMAHA, Aug. 4.-On application of the stockholders and creditors of the American Loan and Trust company, of this city, before Judge Dundy, of the United States circuit court, the bank was handed back to the officers, Receiver Rainey also made a statement in court to the effect that he had found the affairs of the company in excellent shape.


Article from Grant County Herald, August 10, 1893

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Article Text

Big Omaha Institution Resumes. OMAHA, Neb., Aug. 5.-The American Loan & Trust company, which went into the hands of a receiver July 5, resumed business here Thursday, the receiver being discharged. The company's affairs are in good condition and arrangements have been made with creditors which permit an aggressive continuance. The capital stock is $400,000. Commercial circles here were greatly cheered by this news.


Article from The Red Cloud Chief, August 11, 1893

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In Excellent Shape. OMAHA, Aug. 5.-On application of the stockholders and creditors of the American Loan and Trust company, before Judge Dundy, the bank was handed back to the officers. Receiver Rainey made a statement in court that he had found the affairs of the company in excellent shape.


Article from The Iola Register, August 11, 1893

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or court ะญะะข. refusing to obey Gov. Lewelling's orders in the late legislative row began at Topeka, Kan., on the 2d. Hughes' counsel raised a question as to the eligibility of Gen. W. H. Sears, president of the court. Ex-Gov. CAMPBELL, of Ohio, denies emphatically that he is in the field again for the democraticnomination. THE officials of the world's fair announce that the finances are now in a satisfactory shape. THE silver convention effected a permanent organization by electing Gen, A. J. Warner president. THE private bank of Lazarus Silverman, Chicago, has suspended. GEN. W. P. INNES died recently at Grand Rapids, Mich. During the war he organized a regiment of mechanics, which was of great use in building and repairing bridges. INSPECTOR THORNBY, who had a fight with World's Fair Commissioner St. Clair and was discharged, has been reinstated. STRIKING iron men at Ely, Minn., have warned the cashier of one of the companies to leave the place, threatening to burn him alive. STARTLING developments are coming to light about the cold storage fire at Chicago, a witness testifying that the place was robbed and fired by an organized gang. THE Osage Indians, being well fixed financially, have declined to sell their lands to the government. SCHNAUBELT, the Haymarket bomb thrower, is reported to be living in Springfield, O. THE Michigan Peninsular Car Co., of Detroit. has laid off 500 employes and reduced the wages of the remaining 700 each 10 to 15 cents a day. LARGE numbers of Austrians and Italians are leaving Pueblo, Col., and returning to their native homes. ATTORNEY-GENERAL ELLIS, of Michigan. has given an opinion to the effect that the insurance law passed by the late legislature is unconstitutional, owing to section 5, which permits unauthorized companies to do business in that state. THE Union Stock Yards Co., at Rodeo, Contra Rista county, Cal., has suspended operations because of the inability of packers to continue under existing financial conditions. The plant is new and valuable and has only been running a few months. MRS. MARIA L. MITCHELL, widow of Alexander Mitchell, of Milwaukee, has begun a suit against her son. Senator John L. Mitchell, and the Wisconsin Marine & Fire Insurance Co.'s bank. The bank owes her $200,000, it is learned from good authority, and her son, it is alleged, is behind some $50,000 on her annual allowance. THE Anti-Somerby Iron Hallers in session at Indianapolis got down to work and materially modified the organic laws of the order. A BAD row between non-union and union sailors occurred at Chicago. Two men were probably fatally hurt. AT a colored emancipation celebration at Goose Neck Bend, I. T., John Vann, a colored desperado, was killed by a young white man named Singleton and almost a race war was precipitated by the occurrence. NELSON VAN KIRK, for many years a well known trader on the Chicago board of trade, committed suicide after failing. THE pruning of the expenses of the fair goes on and every effort is being made to save money with which to meet the bonds. JOSEPH W. HOWELL, who murdered a woman and four children near Brookfield, Mo., January 9, 1889, was executed at Trenton, Mo., on the 4th. WALKER & Co., dry goods, Chicago, failed. THE American Loan & Trust Co. has resumed business at Omaha under the old officers. THE Choctaw elections resulted in a victory for the Locke faction. A FIRE at Princeton, Minn., destroyed the First national bank building, a hotel and six business houses, causing a loss of $50,000; insurance only partial. FIFTEEN hundred of the depositors of the Akron, 0., Savings bank unanimously agreed to a plan whereby the institution will be enabled to discharge the receiver and open its doors for


Article from Macon Beacon, August 12, 1893

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annower, IS reported to be living in Springfield, O. JOSEPH W. HOWELL, who murdered a woman and four children near Brookfield, Mo., January 9, 1889, was executed at Trenton, Mo., on the 4th WALKER & Co., dry goods, Chicago, have failed. THE condition of the silver market created a financial panic in Costa Rica. Many houses have failed and great distress prevails. OLIVER P. MINK, of Boston, comptroller of the Union Pacific has declared that retrenchment will be the watchword of the management all along the line. THE American Loan & Trust Co. has resumed business at Omaha under the old officers. THE Choctaw elections resulted in a victory for the Locke faction. MESSRS. PARROTT BROS., members of the New York Cotton exchange, have announced their inability to meet their engagements. A FIREAT Princeton, Minn., destroyed the First national bank building, a hotel and six business houses, causing a loss THE of steamship $50,000; insurance only Straits of Gibraltar partial. has been lost in the straits of Belle Isle by a collision with icebergs. Value, $100,000. No lives were lost. THE Lebanon Trust & Safe Deposit bank, of Lebanon, Pa., failed to open its doors. The bank is a state institution with a capital of $50,000. It is believed that the suspension is only temporary. THE grand jury at Memphis indicted Sheriff McLendon, Deputy Sheriff J. A. Perkins, Jailer Harold and Police Captains Ohaver and Hackett for failing to do their duty in permitting Lee Walker to be taken from the jail and lynched and burned two weeks ago. Several of the members of the mob were also indicted. THE Texas national bank at San Antonio is now in the hands of the United States bank examiner. It is the smallest bank in the city; capital stock $100,000. The closing caused no excitement. of of the O., FIFTEEN Akron, hundred Savings the bank depositors unanimously agreed to a plan whereby the institution will be enabled to discharge the receiver and open its doors for business. THREE boys were drowned in Red Lake river near Grand Forks, N. D. Two were swimming a race and both went down. The third lost his life in a brave attempt at rescue. of the THE greed lobbyists of percentages who are making a fat thing out their that the Choctaws up prevents for collecting claims from and is giving all coming their separate government in as part of the United States. AT Corydon, Ind., a mob approached the house of William and Edward Conrad with the intention of lynching him, but they fired into the mob, killing and fatally wounding several. Two freight trains on the Big Four collided on a bridge near Danville, and Ill., and the reeults were loss of life great destruction of property. THE wreck on the Lake Shore at Lindsey, O., was a terrible one, three persons being instantly killed and a number fatally and seriously injured. THE gates of the world's fair were last Sunday, but the visitors were to open few and there was little for them look at. THE New Bedford, Mass., Safe & Trust Co. closed its doors. It was in- of corporated in 1888 with a capital $200,000. THE great reservoir of the water- Two works at Portland, Me., burst. houses were swept away and four of the inmates drowned. Other buildings of were destroyed but no further loss life resulted. t HEAVILY-LOADED suburban train A the Illinois Central was derailed at Chicago on by running into an open r' switch. Three or four cars were badly Miss damaged but only one passenger, hurt. Myra Bradshaw, was seriously York THE American liner New has I arrived. Among her passengers were her Nellie Grant Sartoris and and Mrs. children, Algernon, Vivien in e three Rose. She will reside permanently n this country. 6 Union Pacific has retrenched by discharging THE many men and discontinuS ing train service.


Article from The Indianapolis Journal, May 11, 1894

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Receiver for a Loan Company. OMAHA, Neb., May 10.-On the application of Boston stockholders, representing some four hundred shares, Judge Dundy to-day appointed J. H. Potter receiver for the American Loan and Trust Company. The American company has guaranteed the payment of $600,000 for loans made and business transacted, and has sold its debenture bonds in sums aggregating $400,000, secured by its own bonds.


Article from Barbour County Index, May 16, 1894

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In Omaha, Neb., on the application of Boston stock-holders representing some 400 shares, Judge Dundy appointed Philip Potter receiver for the American Loan and Trust company.


Article from The Anaconda Standard, May 25, 1895

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Still Want Egan. Omaha, May 24.-Receivers Clark, Mink and Anderson were in close conference to-day, making up their report to Judge Sanborn, which will be finished Monday in St. Paul. As to the outcome of the report it is purely problematic, though there seems to be a feeling at headquarters that the attorneys of the American Loan & Trust company will produce in court the money necessary to pay the interest in default on the Oregon Short Line and thereby secure the appointment of J. M. Egan as receiver.


Article from The Weiser Signal, May 30, 1895

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EAGAN MAY BE MADE RECEIVER Receivers of the Union Pacific Report on the Oregon Short Line. Omaha, May 24.-Receivers Clark, Mink and Anderson were in close conference today, making up their report to Judge Sanborn, which will be filed Monday in St. Paul. As to the outcome of the report, it is purely problematical, although there seems to be a feeling at headquarters that the attorneys of the American Loan and Trust Company will produce in court the money necessary to pay the interest in default on the Oregon Short Line and thereby secure the appointment of J. M. Egan as receiver.