Davenport National Bank (Davenport, IA)

View Charter #848 on SPMC View balance sheet

Episode Information

Episode UID
84801213
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8480 national
Charter Number
848
Start Date
January 1, 1901*
Location
Davenport, Iowa (41.524, -90.578)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
864391cdcd781750

Response Measures

None

Description

Multiple suits sought a receiver but courts denied appointment; bank remained in voluntary liquidation.

Events (8)
1. March 1, 1865 Chartered
Source
historical_nic
2. January 1, 1901* Suspension
Cause
Voluntary Liquidation
Cause Details
Bank entered voluntary liquidation/merged with Union Savings and suspended business under the Davenport National name
Newspaper Excerpt
the old Davenport National bank, which went into liquidation in 1901
Source
newspapers
3. December 4, 1901 Voluntary Liquidation
Source
historical_nic
4. October 6, 1903 Other
Newspaper Excerpt
a petition was filed in the Scott county district court asking for a receiver for the Davenport National Bank and charges were made against the officers claiming that they had mismanaged the affairs of the bank
Source
newspapers
5. October 8, 1903 Other
Newspaper Excerpt
The suit in question is only a demand for a settlement of the affairs of the bank which went into voluntary liquidation two years ago and paid its depositors in full at the time.
Source
newspapers
6. March 16, 1904 Other
Newspaper Excerpt
Judge House yesterday denied the petition for a receiver and dismissed the case.
Source
newspapers
7. April 12, 1905 Other
Newspaper Excerpt
entered suit in the United States circuit court ... seeks the court to order the appointment of a receiver for the bank
Source
newspapers
8. February 20, 1906 Other
Newspaper Excerpt
Notices are about to circulate among the shareholders of the Davenport National bank, notifying them that the board of directors have declared the third dividend in liquidation of the affairs of the bank
Source
newspapers

Newspaper Articles (6)
1. October 6, 1903 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, October 6, 1903

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Article Text

DEMAND A RECEIVER Stockholders of a Bank at Davenport Wants Its Affairs Invegtigated CLAIM UNFAIRLY DEALT WITH Now They Have Asked for a Receiver and a Thorough Overhauling of the Bank's Affairs-The Institution Was Recently Merged With Another Bank. Davenport, Oct. 6.-A sensation was sprung on the Davenport public yesterday afternoon when a petition was filed in the Scott county district court asking for a receiver for the Davenport National Bank and charges were made against the officers claiming that they had mismanaged the affairs of the bank in making loans exceeding the amount allowed by the banking laws of the United States. The petitioners are stockholders of the Davenport National Bank. It will be remembered that the Davenport National suspended business under that name about a year ago, merging with the Union Savings Bank. It was said at the time that the action was taken to curtail expenses as the two banks would do business better as one institution and more economically. It was rumored at the time that the failure of the D. H. Stuhr Company case had a good deal to do with the Davenport National's suspension of business. The stockholders who are petitioning for the receiver are Benjamin Barr. who has twenty-two shares: W. K. Haight, thirty shares: Mrs. E. L. Gould. five shares: J. J. Humphrey. ten shares: Mrs. Adelaine Meyers, fourteen shares: Walter Hender, eleven shares: and R. M. Abbett, six shares. Hubbell & Hubbell represent the plaintiffs and Judge Wolfe has sat the time for hearing the case for this afternoon at 2 o'clock. The petition states the assets of the company consist mainly in drafts and obligations of the D. H. Stuhr Grain Company, $40,000: Hawkeye Elevator Company. $20,000 (practically the D. H. Stuhr Grain Company): D. H. Stuhr Grain Company, H. Egbert. trustee. $35,657; D. H. Stuhr Grain Company. overdraft, $9.730. The petition further states that these are of l'tt'e value and that the affairs of the bank were mismanaged and the assets wasted. It is further stated that the laws of the United States do not allow & bank to loan more than 10 per cent of its capital stock and that an amount greatly in excess of that has been loaned and therefore the officers of the bank are personally liable to the stockholders for the shortage. A list of interrogatories are appended asking minutely about the loans to the Stuhr people and asking if letters were not received from the compi troller of the treasury in regard to this matter some time ago.

2. October 8, 1903 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, October 8, 1903

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Article Text

The hearing in which a receiver is asked for the old Davenport National bank has been postponed until next Tuesday. The case came up before Judge Wolfe yesterday afternoon and Lane & Waterman, attorneys for the defendant, filed a petition representing several shareholders protesting against the receiver being appointed. Several affidavits were also shown stating that at the time of the voluntary liquidation of the bank the majority of the stockholders decided that it was best to let the officers and directors settle up affairs. It must be remembered that the suit in question is only a demand for a settlement of the affairs of the bank which went into voluntary liquidation two years ago and paid its depositors in full at the time. It will not affect the other banks in the least.

3. October 16, 1903 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, October 16, 1903

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Article Text

Judge Wolfe's opinion in the case of Benjamin Barr, et al. vs. The Davenport National bank, which has been out of business for two years past, in which a receiver was asked, was received by the clerk of the district court yesterday morning. In it Judge Wolfe refuses to appoint a receiver. His opinion is brief, and contains nothing material beyond the fact of his holding. Julius Schlichting, of West Locust street, is confined to his bed. He was taken suddenly ill while at work at the Rock Island arsenal several days ago and had to be taken home. Charles Becker has a grievance. He says he got an option from George Mengel for the purchase of the southeast corner of Fourth and Harrison street for $12,000, and paid down $6,000 on it. Monday Mr. Mengel sold his undivided interest in the property for $4,000 to P. T. Walsh, who in turn conveyed it to Ernst Zoller. Mr. Becker is getting ready to go a lawing. Saturday evening at Topp's hall in Green Tree the opening gun of the democratic campaign in Davenport township will be fired. Messers. Waldo Becker, E. M. Sharon, N. D. Ely, Fred and Henry Vollmer, Fred C. Naeve, M. F. Donegan, William R. Mains and others are primed for the occasion. Joseph Harding, a broth of a boy with a liking for vivalves, stole a 6gallon bucket of oysters from the H. H. Vogt depot Wednesday afternoon, and was later arrested by Detective Mullane. He was sentenced to 10 days in jail for the offense. Joe may not be stewed over his predicament, but he certainly landed out of the fryingpan into the fire. Charles Clark, chief deputy marshal of Kansas City, came to the city yesterday for Ed Bright, the negro recently arrested by Detective Mullane. He is here awaiting the requisition from the governor of Iowa and the governor of Kansas. He is a smooth shaven gentleman with a headful of knowledge. He even knew Charles Gartland, who told him he once was in business in Kansas City. Mr. Clark says that Bright had been sentenced to the Kansas City jail, on a petit larceny charge, which had been scaled down from that of grand larceny, on a sentence of several months. He managed to break jail, and therefore he is wanted. Bright, when arrested. said he came from Denver, and had once been arrested here for receiving stolen goods. He denied at the time that he had been in Kansas City, but when Clark came before him he acknowledged the jail breaking and was ready to go back. Mr. Clark says the man is wanted in Chicago, as well as in Kansas City, and thinks that he will be taken back to Chicago to answer to a more serious charge. "We have the Bertillion system down there, and we will put it on the negro," said Mr. Clark, "If he isn't wanted there for a crime for which the Kansas City people want him, his next place of exhibition will be the penitentiary. He is-wanted in other places." Wednesday at the parsonage of St. Pauls Lutheran church Rev. W. H. Blancke married Herman Hunt Meyer and Miss Martha E. Foster. both of this city. The affair was private. The couple will reside at 728 East Tenth street.

4. March 16, 1904 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, March 16, 1904

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Article Text

In the case of Benjamin Barr. et al. VS. the Davenport National bank and its former board of directors, Judge House yesterday denied the petition for a receiver and dismissed the case. The decision was made on the grounds that the board of directors were setting up the affairs of the bank in the best manner possible and the appointment of a receiver would only ineur an additional expense that would have to be paid from funds

5. April 12, 1905 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, April 12, 1905

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Article Text

Asks Receiver for Bank. Ira R. Tabor, representing the stockholders of the old Davenport National bank, which went into liquidation in 1901, has entered suit in the United States circuit court, in which all the officers and directors of the bank at the time it went into liquidation are made defendants. While Mr. Tabor represents all the stockholders in the suit, his name appears alone in the title as the plaintiff in the case. The plaintiff avers that the capital stock of the Davenport National bank was $100,000, and during the years 1897, 1898, 1899, 1900 and 1901 the sum of $130,367 was loaned to the D. H. Stuhr Grain company and to the Hawkeye Elevator company, which are declared to be practically one company. This sum is declared to be far in excess of the capital stock of the bank and the amount that could legally have been loaned out. In conclusion, the plaintiff seeks the court to order the appointment of a receiver for the bank, who shall have charge of all papers, books and records, and that he be authorized to collect the amount found to be due from these officers and directors who are found to be liable and to distribute these assets to the stockholders, share and share alike, according to the amount of shares held by each.

6. February 20, 1906 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, February 20, 1906

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Article Text

ditional stories, making the building four stories in height. In addition they are to pay $1,800 a year rental. The $20,000 to be advanced by the Elks will be in the nature of a loan, secured by a mortgage upon, the building, bearing 4 percent interest. Masons Here for Three Days. - The reunion of the four co-ordinate bodies of the Scottish Rite of Masonry sitting in the Valley of Davenport, southern jurisdiction of the United States, opened today at the Masonic temple. It began at 2 o'clock and runs for three afternoons and evenings. Another Dividend in Liquidation. Notices are about to circulate among the shareholders of the Davenport National bank, notifying, them that the board of directors have declared the third dividend in liquidation of the affairs of the bank, and that it will amount to 10 per cent, or $10 per share, to the shareholders of record on March 1, 1906, the dividend to be paid March 10. Declares Special Dividend. - The board of directors of the German Savings bank at its regular meeting declared a special or extra dividend of 20 per cent or $100,000-which by the unanimous assent of the stockholders will be placed in the hands of Messrs. Jens Lorenzen and C. N. Voss as trustees for the purpose of acquiring and paying for the total outstanding capital stock of the German Trust company. This later company was organized in 1894. Its capital stock was paid for by dividends declared by the German Savings bank at the time and distributed among the stockholders. Struck Actress; 30 Days.-Because he struck Annie Meyers of the Orpheon theatre while she was eating lunch at the Iowa theatre, Leo Badger, a young man, was sent to jail for 30 days by Police Magistrate S. A. Finger.