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History of Henry County, Missouri

mch000080p0217

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CHAPTER XXII. FINANCIAL DISASTER AND DEPRESSION CLINTON NATIONAL BANK ORGANIZED-THE SALMON & SALMON FAILURE-THE LOCAL OPTION ELECTION-RESIGNATION OF WINDSOR OFFICIALS-MURDER OF CAPT. ALLISON-MUNICIPAL OWNERSHIP IN CLINTON. Clinton National Bank was organized and chartered by the Govern- ment and an election held by the stockholders on Saturday the thirtieth of April, 1905, and the following directors were chosen: Dr. W. H. Gib- bons, C. H. Avery, E. C. Kent, W. L. Gurner, all of Clinton; W. C. Henrici and Thomas B. Lee, of Kansas City; C. W. Snider of Whiting, Kansas, and W. E. Docking of Clay Center, Kansas. The directors elected as the first officers of the bank, president, W. E. Docking; vice-president, Dr. W. H. Gibbins; cashier, C. W. Snider; bookkeeper, Harry R. Gilbert. On June 21, 1905, the Salmon & Salmon Bank in Clinton failed to open its doors for business, although the bank had been widely considered as stable as it was possible for a bank to be, yet it had been involved in financial difficulties for some time. In a large measure the embarrass- ment being due to its indorsement of the paper of the Tebo Cattle Com- pany. The failure was precipitated when a draft for $15,000 went to protest in St. Louis. The protest of this draft was not known in Clinton until after banking hours. The secretary of State, John E. Swanger, and R. M. Cook, State bank examiner, posted a notice on the door of the bank early on Wednesday morning, stating that the bank was in the hands of the secretary of State. Before this was done the news of the failure had spread through the town. Excited people gathered on the streets and the two telephone exchanges were overworked spreading the news throughout the county. The bank of Salmon & Salmon was intimately related to most of the business interests of Clinton and this whole section of the country.

Object Description

Title	History of Henry County, Missouri
Creator	Lamkin, Uel W.
Subject	Henry County (Mo.)--History Henry County (Mo.)--Biography
Date.Original	1919
Date.Digital	2007
Format	jp2
Collection Name	Missouri County Histories Collection
Source	Historical Publishing Co., 1919.
Type	Books and pamphlets
Identifier	mch000080
Publisher	Missouri State Library
Rights	All images are in the public domain
Language	English
County	Henry County (Mo.)
Coverage	Missouri -- Henry County
Contributing Institution	University of Missouri--St. Louis. St. Louis Mercantile Library
Copy Request	Contact St. Louis Mercantile Library reference desk at (314) 516-7240.

Description

Title	mch000080p0217
Format	JP2
Transcript	CHAPTER XXII. FINANCIAL DISASTER AND DEPRESSION CLINTON NATIONAL BANK ORGANIZED-THE SALMON & SALMON FAILURE-THE LOCAL OPTION ELECTION-RESIGNATION OF WINDSOR OFFICIALS-MURDER OF CAPT. ALLISON-MUNICIPAL OWNERSHIP IN CLINTON. Clinton National Bank was organized and chartered by the Govern- ment and an election held by the stockholders on Saturday the thirtieth of April, 1905, and the following directors were chosen: Dr. W. H. Gib- bons, C. H. Avery, E. C. Kent, W. L. Gurner, all of Clinton; W. C. Henrici and Thomas B. Lee, of Kansas City; C. W. Snider of Whiting, Kansas, and W. E. Docking of Clay Center, Kansas. The directors elected as the first officers of the bank, president, W. E. Docking; vice-president, Dr. W. H. Gibbins; cashier, C. W. Snider; bookkeeper, Harry R. Gilbert. On June 21, 1905, the Salmon & Salmon Bank in Clinton failed to open its doors for business, although the bank had been widely considered as stable as it was possible for a bank to be, yet it had been involved in financial difficulties for some time. In a large measure the embarrass- ment being due to its indorsement of the paper of the Tebo Cattle Com- pany. The failure was precipitated when a draft for $15,000 went to protest in St. Louis. The protest of this draft was not known in Clinton until after banking hours. The secretary of State, John E. Swanger, and R. M. Cook, State bank examiner, posted a notice on the door of the bank early on Wednesday morning, stating that the bank was in the hands of the secretary of State. Before this was done the news of the failure had spread through the town. Excited people gathered on the streets and the two telephone exchanges were overworked spreading the news throughout the county. The bank of Salmon & Salmon was intimately related to most of the business interests of Clinton and this whole section of the country.