River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1908-01-02
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Jan. 21-Merchants' and Farmers bank
Of Farmont Mimi, suspended.
Feb =. j.. Gilman, former president
suspended Home bank Of Goodland,
Ind found guilty of embezzlement
4-First National bank Of Scotland, ,. p,
close by bank examiner IT,.
81. j.. Gilman, Indiana banker, SEN
fenced to term Of one TO three years IN
state prison.
23-Disappearance OF $I'5.OOo from SUP
treasury at Chicago made public.
Mar. I4-Virtual panic in Wall street.
Secretary Cortclyou relieved the situa-
19-Citizens' State bank OF Firth, Neb.,
closed By state
2S-Corbin Banking company of New
York assigned; assets, $3,OGo,Voo' haclii-
Apr. Mai. II. w. Salmon Of Warsaw,
Mo. convicted of illegal banking, sen
fenced three years in penitentiafy.
1i-Bank of Conception, at Clyde MO-
ordered closed
19-Ex-Judge Smith of Chicago. found
guilty of conspirlng to defraud stock
holders and depositors of Bank of
America, Of which he was president
penalty, Imprisonment and $1,000 fine.
Jul. 1-Citizens' bank of Eureka Springs,
Ark, suspended.
First National bank of Hicksville, o.,
closed by comptroller of currency.
Fort Dallas National bank of Miami,
aD-Farmers' National bank of Boyer
town. Pa, ordered closed
Aug. Peoples State bank Of Browns
town Ind, closed by state authorities.
lf-IecelVerS appointed Tor rope MLS. ",
Of Hartford Conn; failure aScribed TO
strlngency of money market
Sep. Watson & Co., members of New
York stock and produce exchanges ana
of Chicago board of trade, failed.
Oct. 9-Unon bank Of Richland, and
Bowman bank of Kalamazoo, Mich,
both private institutions, closed doors.
10-H. ID. Reynolds bank of Valdez, Alas
ka, closed doors.
10-First National bank of Dresden, o.,
16-Collapse or Heinze corner in copper
caused violent slump in stocks in New
York; firm of Otto Heinze d Co., sus-
pended from stock exchange.
19-New York clearing house committee
declared that the Heinze, Morse and
Thomas interests had been eliminated
from banking organizations OF New
York
o. Knickerbocker Trust Co, New York s
second largest financial institution,
forced to suspend; great slump in Sc
curties; call money at 20 per cent.
% Secretary of treasury ordered deposit
of So, 600 900 of government funds in
New York banks. -Four Westinghouse
companies at PittsburG and one trust
company forced into hands of receivers
because of financial strngency. :. State
Bank and Trust Co., of Carson, Nevada,
failed.
oi-Three minor banks in New York
forced to close. Southern Steel Co., of
Birmingham, Ala, filed involuntary pc
tition in bankruptcy.
in New York closed doors. :. Union
Trust Co, of Providence, r. l., sus-
Banks in New York and Chicago. and
many other cities adopted clearing
house loan certificate system to prevent
draining of supplies of currency and
made withdrawal of savings deposits
subject to legal notice
S0-California Safe Deposit 81 Trust Co
bank, at San Francisco, closed. Finan-
cial conditions in New York practically
normal again.
Nov. 4-Three small banks in Kansas
closed. United States Steel corpora
ton secured controlling interest in Ten
nessee Coal q Iron Co
G-Receiyer appointed for Arnold Print
works of North Adams, Mass. of
largest textile concerns in country.
l2-Merchants National bank of Port
land Ore, California bank of Oakland.
Cal. and Farmers & Merchants bank
of Sapupa, l. T.. suspended.
S-Secretary of Treasury Cortelyou or
dered issue of $50, 900 900 of Panama
bonds and $10O,000,000 certificates of in
debtednesS as means of relieving finan-
cial situation. City National bank of
Frederick, Okla, failed.
2t-American Silk Co. capital stock. SILL
100000. which operated mills in several
cities. placed in hands of receiver
dec. chelsea Savings abn& of Chel-
sea- Mich, owned by State Treasurer
Glazier closed
5-National Bank of Commerce, one of
largest financial institutions of Kansas
City, suspended.
6-Fort Pitt National bank of Pittsburg
closed
17-Jewelers' National bank at North
Attleboro Mass, in hands Of receiver