Seattle Dime Savings Bank (Seattle, WA)

Episode Information

Episode UID
9762239691159
Episode Type
Run → Suspension → Closure
Bank Type
savings
Bank ID
976223969 hash
Start Date
July 2, 1896
Location
Seattle, Washington (47.606, -122.332)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b3b1ccebdd15b255

Response Measures

None

Description

The bank initially made a voluntary assignment to an assignee, but creditors successfully petitioned for a court-appointed receiver to investigate potential fraud and stockholder liability.

Events (4)
1. July 2, 1896 Run
Cause
Local Banks
Cause Details
Withdrawals triggered by the failure of the Guarantee Loan and Trust Company and the start of tax payments.
Measures
The bank suspended operations and made an assignment for the benefit of creditors.
Newspaper Excerpt
since the payment of taxes began, and the failure of the Guarantee Loan and Trust Company, the deposits have been rapidly withdrawn
Source
newspapers
2. July 2, 1896 Suspension
Cause
Local Banks
Cause Details
Suspended following heavy withdrawals caused by the failure of another local institution, the Guarantee Loan and Trust Company.
Newspaper Excerpt
The Seattle Dime Savings bank, located on Pike street, suspended operations yesterday
Source
newspapers
3. October 2, 1896 Receivership
Newspaper Excerpt
The first report of George R. Fisher, receiver of the Seattle Dime Savings bank, was yesterday filed in the superior court.
Source
newspapers
4. November 28, 1898 Other
Newspaper Excerpt
Receiver George R. Fisher was yesterday ordered by Judge Moore to sell the assets of the bank to I. N. Bigelow... This sum is due depositors, and as soon as the sale is made there will be a settlement of such accounts.
Source
newspapers

Newspaper Articles (11)
1. July 3, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 3, 1896

Click image to open full size in new tab

Article Text

The Seattle Dime Savings Bank Closes Its Doors. The Seattle Dime Savings bank, located on Pike street, suspended operations yesterday, and the customers who called found a notice to that effect. and also that an assignment had been made by the bank for the benefit of its creditors posted on the door. I. N. Bigelow, president and cashier of the bank, when seen at his residence, made the following statement in regard to the condition of the bank: "The bank owed no debts except to its depositors, the total amount due to them being $4,000. The largest depositor is the county, having a deposit of $1,700, which is amply secured by a bond taken at the time the deposit was made. All other deposits are in small amounts, the largest not exceeding $225. The assets of the bank, including cash on hand, notes, secured and unsecured, property, and fixtures, owned by the bank, amounts to $6,985." Mr. Bigelow accounts for the closing of the bank at this time by the fact that, since the payment of taxes began, and the failure of the Guarantee Loan and Trust Company, the deposits have been rapidly withdrawn, and no new ones were being made. The bank has executed an assignment of all its property to Stephen E. Davison for the benefit of all its crediters. When the assets can be realized upon they will be ample to pay the existing indebtedness, according to the statement made by Mr. Bigelow. The assignment was filed for record in the auditor's office at 3:45 o'clock yesterday.

2. July 9, 1896 River Falls Journal River Falls, WI
Article from River Falls Journal, July 9, 1896

Click image to open full size in new tab

Article Text

# LATER NEWS. The Seattle (Wash.,) Dime Savings bank has suspended. I. N. Bigelow, president and cashier, accounts for the closing by the fact that since the payment of taxes began, and the failure of the Guarantee Loan and Trust company, the deposits have been rapidly withdrawn, and no new ones were being made. At Castlewood, S. D., Anton Paulson's store was broken open early the 7th, and a robbery committed. The robber made his escape on a wheel belonging to Arthur Paulson, a clerk in the store. A 13-year-old boy named Erickson, living at Pleasant View, Wis., tried to see if he could touch the cars as the train went by him. He did so and was knocked down and had one foot crushed to a pulp and then thrown into a culvert and is badly bruised all over. The grand lodge of Elks opened at Cincinnati the 7th, and the city was at once startled by the fact that a new badge was being used. Everywhere, as if by magic, appeared men who were wearing the sign: "I am for Minneapolis in '97" backed by a miniature American flag. In the boat race at Henley-on-Thames, England, the 7th, the Yale college crew was beaten by Leander by one and three-quarter lengths. Time, 7:14. Another expedition has landed safely on Cuban soil. It consisted of 64 men and they had with them 400,000 rounds of ammunition, dynamite, electric batteries, etc. The gavel used by Chairman Harrity in opening the Democratic National Convention was presented by Ossian Guthrie, of Chicago, made from an oak timber taken from old Fort Dearborn. The block house from which the timber was taken survived the Chicago fire, and was purchased by Mr. Guthrie and other philanthropic citizens and re-erected in South park, Chicago, as a reminder of the city's frontier days.

3. July 11, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 11, 1896

Click image to open full size in new tab

Article Text

ASSIGNEE NOT WANTED. Petition for Receiver for Seattle Dime Savings Bank. The question of a receiver to succeed Stephen E. Davison, assignee of the Seatthe Dime Savings bank, will come before Judge Langley in the superior court next Monday, when the validity of the assignment will be tested. A complaint asking for the appointment of W. H. Vincent as receiver was filed yesterday by J. L. Bates, who sues to recover $280 on deposit in the bank. The complainant alleges that the pretended assignment was made for the purpose of defrauding the depositors and other creditors of the bank, and in order to permit the officers and stockholders to dodge their liability under the law. The petition points out that the assignee is the brother of Emiline Bigelow, one of the stockholders, and the brother-in-law of L N. Bigelow, the largest stockholder. The purpose of the assignment, Bates alleges, was to place the affairs of the company in the hands of some one who would not force collections, and subject the stockholders to double liability. Bates complains that he and other creditors have been refused an inspection of the book containing the names of the stockholders, although a demand to that end was made during business hours.

4. July 11, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 11, 1896

Click image to open full size in new tab

Article Text

New Suits Filed. Actions were begun in the superior court yesterday as follows: J. L Bates vs. the Seattle Dime Savings Bank and Stephen E. Davison. assigneeTo recover deposit, $280; petition for ap"pointment of receiver. Northwestern and Pacific Hypotheek Bank vs. Ronald M. Crawford et al.Promissory note and mortgage, $1,300. Arthur A. Connell vs. Eva Connell et al. -Divorce and petition to set aside deed. Lizzie G. Simmons VS. Thomas G. Simmons-Divorce. Northern Countles Investment Trust vs. Genevieve Farrar et vir.-Promissory note

5. July 14, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 14, 1896

Click image to open full size in new tab

Article Text

Court Notes. The case of Sarah E. Abt VS. George W. Loggie et al. has been continued to July 20 by Judge Langley. Default, findings, conclusions and decree were signed by Judge Langley yesterday in the case of Matthias H. Arnst vs. Victor P. Weisenthal et al. Cleo Maude Sparling was given a divorce yesterday from G. H. T. Sparling by Judge Langley. She is to get $60 a month alimony and her costs in the case. Findings of fact and conclusions of law have been signed in the case of J. W. Filkins vs. Jennie Holzschuher et al., an action to recover $160 on a promissory note. J. L. Bates, George H. Woodhouse and many other creditors of the Seattle Dime Savings bank, petitioned the superior court yesterday to appoint W. H. Vincent receiver. A complaint in Intervention by W. D. Whittaker et al. was filed in the superior court yesterday in the case' of E. O. Graves, trustee of the Washington National bank vs. the Commbia Home Company. An appeal bond in the case of the Orient Insurance Company, of Hartford, vs. Mrs. Nellie Phinney was filed yesterday, Mrs. Phinney as principal and F. J. Burns surety. The amount of the bond was $419.21. Plaintiff's motion made several days ago in the case of James M. Colman et aix. vs. the Columbia & Puget Sound Railroad Company to retax the costs was stricken from the trial calendar yesterday by agreement. The sheriff's sale of property in the case of Jacob Wilts vs. Joshua B. Pinckney et al. to the plaintiff for $591.80 has been confirmed by Judge Langley. The property consisted of lot 11, block 34, in D. T. Denny's addition. The jury in the Federal court will resume Its labors today, the well known case of Nixon vs. the Equitable Life Insurance Company being set for trial. This is the case in which Mrs. Nixon sues the company for a $10,000 life policy. In the suit of Balfour, Guthrie & Co. vs. John Parkinson et al., on affidavit and application of El M. Carr. of counsel for complainant, Judge Hanford ordered that notice to plead be served on Fordyce Roper, Julia 8. Roper, George B. Landers and Ella C. Landers at Ashland, Or., and John Parkinson and Meta B. Parkinson at Los Angeles, Cal.

6. October 3, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 3, 1896

Click image to open full size in new tab

Article Text

Court Notes. A marriage license was yesterday Issued to Erick Johnson and Liva K. Nordal, both of Seattle. Judge Osborn yesterday assisted in the manufacture of the following citizens: Nick Amert, a native of Germany; Oscar Olson, a native of Sweden. The following orders of sale from Judge Langley's court were yesterday filed in the superior court: C. M. Sheafe, receiver, VS. Lydia H. Kellogg et al., $472.70; C. M. Sheafe vs. Lydia H. Kellogg et al., $232.80. T. P. Carter yesterday filed in probate his application for letters of administration of the estate of Eglinline Carter, deceased. The estate is represented as being worth $1,650, consisting of real estate in King county and shares in the Royal Wheel Company of Cincinnati, O. The first report of George R. Fisher, receiver of the Seattle Dime Savings bank, was yesterday filed in the superior court. The document shows an inventory of furniture and supplies received from S. E. Davison, assignee, and a schedule of bills receivable amounting to $5,833.69, a part of which is secured by mortgages; also $105 in cash from S. E. Davison. The tenth quarterly report of John H. Bryant, receiver of the Seattle Coal and Iron Company, was yesterday filed as a part of the case of the Manhattan Trust Company VS. the Seattle Coal and Iron Company. The earnings of the business for the quarter ending August 31 showed earnings from sales, rents and discounts, etc, $48,620.91, and expenses $56,378.48, a deficit of $7,756.57. The financial statement shows assets $63,976.52, and liabilities $27,463.45; net assets, $36,513.07. The tonnage of the coal mined during the quarter was 31,296.5 tons.

7. December 19, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, December 19, 1896

Click image to open full size in new tab

Article Text

Court Notes. A marriage license was issued yesterday to Nilson Dunn. of Northup, and Tillie McEntyre, of Bothell. A jury in Judge Osborn's court in the 09.86 of Herman Chapin VS. James Spurr returned a verdict for defendant. Annie Holland. administratrix of the estate of John Holland, was yesterday discharged, and her bonds exonerated by Judge Langley. Judge Langley yesterday ordered a distribution of the estate of Anna L. Young. One-half of the estate goes to Oscar Young, husband of the deceased, and the balance to her children. Receiver Murphy having wound up the affairs of the law firm of Turner & MoCutcheon to the satisfaction of Judge Langley, he was directed yesterday to pay himself $200 for his services out of the funds of the firm. A decree was signed by Judge Langley yesterday in the case of Mrs. Alice Bolton VS. Joseph B. Jones et al., giving judgment in favor of plaintiff in the sum of $1,962, $100 attorney's fees, and for a foreclosure of mortgage. Receiver George R. Fisher, of the Seattle Dime Savings bank, was yesterday directed to return to R. K. Latimer $637 in notes, provided be deeded the receiver 120 acres of land in Clallam county, and also transferred to the receiver Port Townsend street grade warrants of a face value of $634. Judge Humes has signed the decree in the case of Annie J. Brockman vs. Charles Brockman. It grants plaintiff a divorce, gives the care of the two children to Mrs. Brockman, allows her $500 alimony, directs that the defendant shall pay the costs of the suit, $20 for attorney's fees, and further provides that he shall pay $15 per month for the support of the children until the youngest child shall have arrived at the age of 12 years.

8. January 5, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 5, 1897

Click image to open full size in new tab

Article Text

Stockholders to Be Assessed. Permission was granted George R. Fisher. receiver of the Seattle Dime Savings bank, to levy an assessment upon each and every stockholder in the concern to the amount of what remains unpaid upon their subscriptions to the capital stock. In case the request is refused. the receiver is ordered to bring immediate suit against every one refusing. In fact, he is ordered to bring suit against every person in any way indebted to the bank.

9. April 7, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, April 7, 1897

Click image to open full size in new tab

Article Text

IN State THE of SUPERIOR COURT J. L. Bates, THE Savings Bank THE et al., of a Dime tice to Defendants, Creditors. Order Directing No. No. On motion of G. R. Fisher, the heretofore appointed by this court receive or creditors action. demands It and is against ordered other persons the by Seattle the having court Dime that in claims this 4 ing ings business Bank, a corporation, heretofore Sex. at Seattle, King property quired Washington, with Bank, G. at respectively the of R. the be Fisher, First and Seattle National to they as present receiver are Dime Saring hereby and county, of to the the is northwest Yesler way, corner in of First avenue on the mands, ty ments of King, of specifying their state the respective the of city Washington, of claims Seattle, or stare - - & items thereof, verified the claimant, his or attorney, on before the 1st day of July, 1897; and or claims not so presented and proved shall M be debarred from all benefit of said oeivership, and all share in any of " assets of the said corporation of the Sesttle the Dime Savings Bank that may come into the hands of the said receiver and be & tributed or disposed of by him. And it is further ordered that the aug receiver be and he hereby is directed to give notice to all creditors and other persons having claims or demands against the said Seattle Dime Sevings Bank, by publication of a copy of this order once a weeks in the mailing a copy THE days after the date hereof to each and every creditor on the books of account of the said Seattle Dime Savings Bank said receiver's possession, at the address in of such creditors, as the same appears a said books, and such publication and mailing shall constitute due notice to all creditors Bank. of the said Seattle Dime Savings And it is further ordered that said Mr. ceiver be, and he hereby is directed. to file in this court on or before the 15th day of July, A. D. 1897, a statement of of claims and demands presented to him and filed with him in pursuance of this order. Done in open court this 6th day of April, A. D. 1897. WM. HICKMAN MOORE, Judge.

10. April 14, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, April 14, 1897

Click image to open full size in new tab

Article Text

IN THE SUPERIOR COURT OF THE State of Washington for King County.J. L. Bates, Plaintiff, vs. Seattle Dime Savings Bank of Seattle, a corporation, et al., Defendants, Order Directing Notice to Creditors. On motion of G. R. Fisher, the receiver heretofore appointed by this court in this action, it is ordered by the court that all creditors and other persons having claims or demands against the Seattle Dime Savings Bank, a corporation, heretofore doing business at Seattle, King county, Washington, be and they are hereby required respectively to present and to file with G. R. Fisher, as receiver of the property of the Seattle Dime Savings Bank. at the First National Bank, on the northwest corner of First avenue and Yester way, in the city of Seattle, county of King, state of Washington, statements of their respective claims or demands, specifying the dates, amounts and items thereof, verified by the affidavit of the claimant, his agent or attorney, on or before the 1st day of July, 1897; and all claims not so presented and proved shall be debarred from all benefit of said receivership. and all share in any of the assets of the said corporation of the Seattle Dime Savings Bank that may come into the hands of the said receiver and be distributed or disposed of by him. And It is further ordered that the said receiver be and he hereby is directed to give notice to all creditors and other persons having claims or demands against the said Seattle Dime Savings Bank, by publication of a copy of this order once a week for three consecutive weeks in the Post-Intelligencer, and by mailing a copy of this order within ten days after the date hereof to each and every creditor on the books of account of the said Seattle Dime Savings Bank in said receiver's possession, at the address of such oreditors, as the same appears on said books, and such publication and mailing shall constitute due notice to all creditors of the said Seattle Dime Savings Bank. And It is further ordered that said receiver be, and he hereby is directed, to file in this court on or before the 15th day of July, A. D. 1897, a statement of all claims and demands presented to him and filed with him in pursuance of this order. Done in open court this 6th day of April, A. D. 1897. WM. HICKMAN MOORE, Judge.

11. November 29, 1898 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 29, 1898

Click image to open full size in new tab

Article Text

TO PAY OFF DEPOSITORS. Assets of the Seattle Dime Savings Bank Ordered Sold. The depositors who have patiently awaited a day of settlement of the accounts of the Seattle Dime Savings bank. will at last be gratified. Receiver George R. Fisher was yesterday ordered by Judge Moore to sell the assets of the bank to I. N. Bigelow, president of the institution and one of the stockholders, for $14,484.41. This sum is due depositors, and as soon as the sale is made there will be a settlement of such accounts.