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NATIONAL BANK CLOSED. Washington, Dec. 12.-The Farmers & Drovers' National bank of Waynesburg, Pa., was closed today by the controller of the currency, and Examiner John B. Cunningham has been appointed receiver. The assets and liabilities are $2,367,474.
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BANK IS CLOSED. Aged Institution of Waynesburg. Pa., in Hands of Receiver. Washington, Dec. 12.-The Farmers and Drovers' National Bank of Waynesburg, Pt, was closed today by direc. tion of the Comptroller of the Currency and National Bank Examiner John B. Cunningham has been appointed receiver and the assets and liabilities are $2,367,474. A statement issued by the Comptroller of the currency says that the bank has been in an unsatisfactory condition for some time/ and that its lawful money reserve has been continuously deficient, notwithstanding repeated admonitions and an official notice to make it good. Waynesburg, Pa., Dec. 12.-The Farmers and Drovers' National Bank, which was closed today by the Comptroller of the Currency, is said to be the oldest national bank west of the Allegheny mountains. It is backed by wealthy men and the Comptroller's order occasioned no excitement.
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National Bank Closed. Washington.-The Farmers' and Drovers' National bank of Waynesburg, Pa., was closed Wednesday by direction of the comptroller of the currency and Bank Examiner J. B. Cunningham has been appointed receiver
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WARRANTS OUT FOR BANKERS. Waynesburg Financiers with Political Ambitions to Be Arrested. Pittsburg, Dec. 16.-Warrants were issued here to-night for certain officials of the failed Farmers and Drovers' National Bank of Waynesburg, the oldest national bank west of the Allegheny Mountains, and to-morrow a United States deputy marshal will go to Waynesburg to serve them. It is said at least two, and probably more, bank officials will be arrested for juggling the money of the bank. It is said that the shortage will run from $400,000 to $700,000. The bank became involved in the last two political campaigns. D. S. Walton, the president, aspired to the senate, and was elected at the last election, while J. B. Rhinehart, the vice president and cashier, has long been desirious of becoming the Republican county leader. It is said that the bank spent $150,000 in the fight for State treasurer.
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Bank Closed by Controller. The Farmers' and Drovers' National Bank, of Waynesburg, Pa., was closed by direction of the Controller of the Currency, and John B. Cunningham, National Bank Examiner, has been appointed receiver. The assets and liabilities are $2,367,474.
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Bank Closed. Waynesboro, Pa., Dec. 13.-The Farmers' and Drovers' National bank of Waynesburg was closed by direction of the comptroller of the currency. The national bank examiner, John B. Cunningham, was appointed receiver. The assets and liabilities are $2,367,474.
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The Farmers' and Drovers' National Bank, at Waynesburg, Pa., was closed last week by direction of the Comptroller of the Currency. The liabilities and assets of the bank are $2,367,000. A receiver was appointed.
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DEPOSITS ARE MISSING. Lincoln Bank Failure at Chicago a Secret Because Owner Refuses to Talk. CHICAGO, Ill., Dec. 18.-Judge Landis of the United States district court today granted the petition of the receiver appointed yesterday for the Lincoln bank at Morton Park, of which William J. Atkinson was the proprietor. for an examination of Atkinson with a view to locating the assets of the institution. The attorneys for the receivers says only $350 in cash has been found in the bank although it is known that much more than this had been deposited Saturday. Atkinson refused to make any statements. Others estimate the deposits at about $90,000, all made by poor people. PITTSBURG, Pa., Dec. 18.-National Bank Examiner Cunningham, who is investigating the defunct Farmers and Drovers' National bank of Waynesbur;, Pa., says the minute book of the institution is missing and that it was "lost, strayed or stolen." It contains the names of the bondsmen. He added that the further he went into the bank's affairs the worse he found them.
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GETS WAYNESBURG CASH Check to Cover Deposit in Defunct Institution is Paid Over. Pittsburg, Dec. 25.-A check for $75,430.20, has been sent to State Treasurer William N. Berry in full payment of the claim of the state against the Farmers and Drovers' National bank at Waynesburg, Pa., which was recently closed on orders from the controller of the currency because of the alleged falsifying of the reports by the cashier, J. B. F. Rinehart, The payment of this amount by the bondsmen will be a lien on certain funds in the hands of the receiver, John B. Cunningham,
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BONDSMEN HAD TO MAKE GOOD THE STATE'S LOSS Pittsburg, Dec. 24.-A check for $75,430 was today sent to State Treasurer William H. Berry in full payment of the claim of the state against the Farmers and Drovers' National bank, of Waynesburg, Pa., which was recently closed on orders from the comptroller of the currency because of the alleged falsifying of the reports by the cashier, J. B. F. Rinehart. The check was drawn on a Pittsburg bank, in which James E. Sayres, the trustee and attorney for the bondsmen to secure the state funds, had deposited a check on the Citizens' National bank of Waynesburg, where the funds to meet the check had been deposited by the committee of bondsmen. The payment of this amount by the bondsmen will be a lien on certain funds in the hands of the receiver, John B. Cunningham.
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WAYNESBURG'S WRECKED BANK. Net Liabilities May Reach $1,500,000 -Forged Notes Among the Assets. PITTSBURG, Dec. 29.-There were more sensational developments at Waynesburg to-day in connection with the failure of the Farmers and Drovers' National Bank, among which was the appointment of a receiver for Rinehart's tin plate mill, which is known under the name of the W. H. Griffiths Company. To-day it was authoritatively asserted that rediscounted notes, for which the farmers and drovers' bank at Waynesburg is liable, now amount to $1,250,000, of which it is positively asserted that $500,000 worth are forgeries. From all indications the liabilities of the bank will be $1,500,000 in excess of the assets. The name of Barney Grossman, a clothier of Waynesburg and an intimate friend of Cashier Rinehart, is signed to notes for $350,000, and he denies that all the signatures are genuine. Many notes, the signatures of which have been verified, are worthless, the signer at no time having sufficient funds to meet the paper. Judge Holt made Sheriff John J. Koebert permanent receiver for Rueben H. Goldberg & Co. to-day. Attorney Trimble, representing Examiner Cunningham, declared that Goldberg was indebted to the bank to the extent of $44,000 on notes and that Rinehart was a partner in the firm. Judge Holt also appointed Harry B. George temporary receiver for the W. E. Griffiths Company, tin plate manufacturers of Waynesburg, of which Rinehart is the largest stockholder. The company owes the bank $82,000. Its plant cost $25,000 and it has outstanding bills to the amount of $12,000.
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BUSINESS FAILURES Jan. 14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. 18-G. S. McReynolds & Co., Chicago; liabilities, $400.000. Feb. 8.-Boliver County Bank, Cleveland, Miss.; liabilities, $110.000; assets, $130,000. 15-Bank of America, Chicago, placed in receiver's hands. 26-Cash Buyers' Union, Chicago, placed in receiver's hands Williamson Libbey Lumber Co., Oshkosh, Wis.; liabilities, $500,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 27-National Business College, Quincy, Ill., assigns; liabilities, $30,000; assets, $100,000. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, III.; liabilities, $100,000. 24-First National bank, Attalla, Ala., closed by national bank examiner. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. 28-Joplin (Mo.) Savings bank closed by state officials. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. 30-White, Dunham Shoe Co., of Brockton and Boston, failed; liabilities, $400,000. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 8-F. E. Coyne, ex-postmaster, Chicago, failed in bakery and luncheon business. 16-Garfield Park bank of Chicago closed as result of collapse of Milwaukee Ave. State bank. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. v. Chandler at Macomb, Colchester and Bardolph, Ill., closed for lack of ready cash. Dec. 1-Bank of Kiowa, I. T., closed on account of slow collections and inability to realize on assets. 12-Farmers' and Drovers' National bank of Waynesburg, Pa., Crosea NJ comptroller of currency. 13-Cummings Commission Co., one of largest brokerage houses in northwest, suspends. 17-Lincoln bank of Morton Park, suburb of Chicago, fails.
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Bank Closed by Controller. The Farmers' and Drovers' Nat nal Bank, of Waynesburg, Pa., was closed by direction of the Controller of he Currency, and John B. Cunninham, National Bank Examiner, has been appointed receiver. The asset and liabilities are $2,367,474. :
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WAYNESBURG, Pa., Sept. 10.The following letter to. the depositors of the defunct Farmers and Drovers National Bank of Waynesburg, with the subjoined agreement for them to detach. sign and return. has been mailed to all the depositors of the institution by Receiver Strawn at the request of the directors: WAYNESBURG. Pa.. Sept. 5, 1907. To the depositors in the Farmers and Drovers National Bank of Waynesburg. Pa.: The earnest effort now being made to reopen the Farmers and Drovers National Bank depends for its success on the bank's getting 3 year or more time to pay its depositors. This bank, like every other bank, has the principal part of its assets in notes, many of which cannot be collected at once. If collection is enforced on a large scale the loss will be great.
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Will be Assessed 100 Per Cent. Washington, Pa., Oct. 28.-Efforts to reopen the Farmers and Drovers' national bank, of Waynesburg, Pa., which failed last December, have been abandoned. This announcement has been made by Receiver John H. Strawn. Outstanding obligations of the bank amounting to $200,000 are to be met by an assessment of 100 per cent upon all stockholders, which has been ordered by Comptroller of the Currency Ridgeley. W. J. F. Rinehart, whose operations are said to have caused the failure, was indicted in Pittsburg Saturday by the federal grand jury on numerous counts of abstraction and false entries.
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BANK STOCKHOLDERS HELD FOR THEIR FULL LIABILITY WASHINGTON, Pa., Oct. 28.-Despite all efforts made with a view to reopening the Farmers and Drovers' National Bank, at Waynesburg, which falled last December, it is now definitely announced by the receiver that the institution will not resume business. The bank's outstanding obligations of $200,000 are to be met by an assessment of 100 per cent on the stockholders.
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Won't Reopen Wrecked Bank. Washington, Pa., Oct. 28.-Efforts to reopen the Farmers' and Drovers' National bank. of Waynesburg. Pa.. which failed last December. have been finally abandoned. This announcement has been made by Receiver John H. Strawn. Outstanding obligations of the bank amounting to $200,000 are to be met by an assessment of 100 per cent. upon all stockholders, which has been ordered by Comptroller of the Currency W. B. Ridgely. J. B. F. Rine hart. whose operations are said to have caused the failure, was indicted in Pittsburg by the federal grand jury on numerous counts of abstraction and false entries.
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Money For Depositors, Washington. Pa.. Oct. 29.-Receiver John H. Strawn. of the Farmers and Drovers' National bank. of Waynesburg, Pa., will next week begin mailin gto depositors and rediscounters checks for the first payment on their claims. The first payment will be 25 per cont. of all approved claims.
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Bank's Directors Assessed WAYNESBURG, Pa., Feb. 26.-Receiver Strawn of the defunct Farmers and Drovers National bank has notified the former directors that they will have to contribute $1,500,000 as a result of the failure of the bank.
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Directors Asked for Big Sum. Waynesburg, Pa., Feb. 2 .-Receiver Strawn of the defunct Farmers and Drovers' National bank has notified the former directors of the bank that they will have to contribute $1,500,000 as a result of the failure of the bank. The institution was closed on Dec. 12, 1906, and it has been ascertained that the shortage amounts to $1,800,000.
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BANK DIRECTORS TAXED. WAYNESBURG, Pa., Feb. 28.Receiver Strawn of the defunct Farmers and Drovers' National Bank, has notified the former directors that they will have to contribute $1,500,000 as a result of the failure of the bank.
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MUST PAY HUGE SUM. Directors of Failed Bank Called Upon for $1,500,000. Waynesburg, Pa., Feb. 27.-Receiver Strawn of the defunct Farmers and Drovers' National bank has notified the ex-directors of the bank that they will have to contribute $1,500,000 as a result of the failure of the bank. The institution was closed December 12, 1906, and it has been ascertained that the shortage amounts to $1,800,000. The directors have been notified by the receiver that should they fail to comply with his request for this large sum proceedings will be taken against them.
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Waynesburg Pa.--Receiver Strawn of the closed farmers and drovers Na. tional Bank, has notified the former directors of the bank that they will have to contribute the sum $1,500, 000 as a result of the failure of the bank. The institution was closed on December 12, 1906, and it has been as. certained by the receiver that the shortage amounts to $1, 800,000. the directors have been notified by the receiver that should they fail to comply with his request proceedings will be taken against them The demand for the money has caused not a little excitement here, as United States banking officials seldom hold directors financially responsible for the closing of a bank, unless they were negligent in the discharge of their duties.
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Directors Asked to Pay $1,000,000. At Waynesburg, Pa., May 10, directors of the Farmers and Drovers' National Bank, which closed last year, following the arrrest of its cashier, J. F. B. Rinehart, on charges of embezzlement, have received letters from the attorneys of receiver of the bank demanding that they m tke settlement of a deficit of $1,000,000. The letters from the attorneys charge the directors with failure to properly guard the funds of the bank and with the expenditure of the institution's money for corrupt political purposes.