[ Volume XXVII
THE CHICAGO BANKER
26
arrested in Chicago and returned to Davenport, suspected of being the man who has committed various forgeries in Iowa banks is now held in the Scott county jail under bond for $15,000. When brought into the courts at Davenport, and asked whether Ordway is his name, the prisoner replied that it was immaterial to him whether he was known as West or Ordway. He refused to make any statement. When the man was led back to the county jail, he was manacled to a detective, preceded by a sheriff and followed by a deputy sheriff. Nothing has been learned as to whether he is the same man who so boldly mulcted the Citizens National of this city out of $500 on a fake telegram some months ago.
Bank Wins Suit
The Peoples Savings Bank of Des Moines won its suit against the Retail Merchants Mutual Fire Association before the supreme court. F. A. Franck held a policy in the company, and the bank held a mortgage on the insured property. When the bank attempted to collect the insurance, the company set up a defence of breach of contract on the part of Franck. The supreme court, however, held that the mortgage clause attached to the policy was a contract between the insurance company and the mortgagee, and that a breach on the part of the mortgager did not affect the rights of the mortgagee.
Clayton County State Bank
Articles of incorporation of the Clayton County State Bank at Guttenberg have been filed by the secretary of state. The capital stock is $25,000. The president is W. L. Duffin, vice-president, Charles E. Shulz; cashier, C. J. Adams.
Reserve Agents Named
Reserve agents have been named as follows: Live Stock Exchange, Chicago, for First National, Alta; Dubuque National, Dubuque, for Northwestern National, Sioux City.
Judge Carswell Injured
Judge Carswell, a well known attorney at Boone, who is a cripple, fell over a stair railing in the building of the Boone National, at Boone, and received serious injuries.
Des Moines Visitors
Among Iowa bankers who have visited Des Moines within the past few days are: President M. M. Head, First National, Jefferson ; Cashier C. J. Irish. Benton County Savings at Vinton; Cashier E. V. Dougherty, Cromwell State Sav^ ings; Cashier M. J. Sanberg, Kiron State at Kiron; Cashier H. J. Holmes, Perry Savings at Perry; Cashier J. B. Lyman, Iowa Savings at Tracy; Cashier Edward Delahoyde, Exchange Bank, Exira.
W. E. Otis, president of the Winfield National at Winfield, Kan., was in Des Moines last week renewing old acquaintances. Forty-two years ago he began his banking career with the First National of this city.
Convicted for Writing Black Hand Letters
Francis Fleathman wrote "black hand” letters to W. A. Hopkins, a well known banker at Lamoni, and now he has a two year sentence to serve in the reformatory at Anamosa.
TO IOWA BANKERS
Please forward marked copies of your home paper to the Chicago Banker when it contains anything about Iowa Banks or Bank• ers. The favor will be appreciated.
Des Moines, December 1.—Iowa bankers generally, mourn the tragic death of F. A. Edwards, president of the Webster City Savings Bank, who died as the result of a bullet wound, accidentally inflicted by himself. Mr. Edwards was dusting off the desk in the bank early in the morning, before the institution's doors had been opened. In some manner the feather duster struck the trigger of a revolver, that he kept at hand, exploding the latter. The bullet entered Mr. Edwards’ abdomen. By throwing one of his shoes through the plate glass window, the wounded man succeeded in attracting the attention of a passer-by. He was taken to the hospital, where he died some hours later.
Mr. Edwards was one of the organizers of the Savings Bank in 1897; later he became president. Fie was 55 years old, and for many years operated a department store in Webster City. During the Cleveland administration he was postmaster at Webster City, and also served three years as mayor.
Administrator Sells Property
T. M. Stuart, as administrator of the estate of Frank Crocker, the deceased cashier of the First National at Chariton, recently disposed of Mr. Crocker's personal property at public auction to satisfy his creditors. About $30,000 worth of farm and town property, mining stock and bonds were sold. This together with $15,000, which was still left of the estate, makes a $45,000 aggregate to apply on the deceased cashier's debts, which totaled about $800,000. While Mr. Crocker was cashier of the First National Bank, which is now in charge of Receiver Jamison, the sale Saturday had nothing whatever to do with the affairs of that institution.
Collect Money on Forged Telegram
Iowa bankers are interested in the decision of the supreme court in a case brought by A. Jud-son Wells, assignee of the Britt Commercial Bank and of Schriver Brothers of Britt. The Western Union Telegraph Company was defendant. A telegram purporting to be signed by the State Bank of Denison ordering the Britt Commercial Bank to pay the check of one Barnes for $8,972. proved to be a forgery. The bank, however, had honored the check. Suit was brought to collect from the telegraph company, and the supreme court held against the latter. The decision means that a telegraph company, which sends a forged telegram, resulting in a bank paying a forged check, is guilty of such negligence that the assignee can recover the amount so paid. It is believed in Des Moines that this decision will be of vital importance in a similar case brought by the Citizens National of Des Moines against the Western Union to recover $500. paid out on a forged telegram from Omaha.
Gets Large Sum through Inheritance Tax
The state of Iowa will realize a collateral inheritance tax of some $18,000 from the estate of the late Joseph Storm of Dallas county, a well known banker, whose death was recorded in my letter of last week. Storm was 80 years old and was unmarried. In 1856 Mr. Storm bought 240 acres of land in Dallas county, for which he paid $4 per acre. Later these land holdings were increased to 3,000 acres. Besides he had moneys and securities of $90.000. Most of the property goes to four brothers and a sister, whose ages are 71, 73, 76 and 78 years.
Held on Suspicion
Harrv West, alias H. S. Ordway, who was