Frank Lander LaRue
Frank was born on February 27, 1862 in Lansing, Michigan to Franklin B. and Amelia Wells (Chapin) LaRue. His parents were each born in the Finger Lakes region of New York in the early 1800's but had come to Michigan with their families by the 1830's. He was the fifth of eight children, although only 4 survived to adulthood. The eighth child, Daisy LaRue, was born in Illinois in 1865 as the family was heading westward. The family had moved to Adams County, Iowa by 1880.
In 1882 Frank entered the office of county treasurer as a deputy treasurer. After six years he was elected County Treasurer for Adams County. He served one term. He declined the nomination for another term to accept a position as cashier at the Corning State Savings Bank.
Frank married Anna Beymer on January 1, 1887, their only child Frank June LaRue was born in October of the same year. In 1900 Frank became the President of the bank. Frank Lander LaRue died March 4, 1904 at the age of 42, leaving behind a widow and 17 year old son.
Frank's obituary, pasted in the Kennon bible, intrigued me and I couldn't imagine what the "sad and tragic circumstances ... such as seldom comes to any community" could possibly have been.
In my 40-odd years of searching for family I have only paid for 3 death certificates, this is one of them. Frank LaRue's cause of death was "suicide by shooting." At some point I had learned that there had been some kerfuffle at the bank and it had either failed or come close to failure due to a number of bad loans. As his obituary outlines, Frank was "ready to grant favors,"and a "friend to every man in need," he was ready to assist young men "with advice and in more substantial ways." I thought perhaps Frank had been a little too free in giving loans.
Fast forward many years and a subscription to newspapers.com; they have most, if not all of the Adams County Free Press. The news accounts that appear and continue to appear for over a year paint a full picture of the "kerfuffle." One begins to understand that whomever wrote the obituary and the community at large had no idea what was going on.
All of the following information and excerpts were gleaned from my “subscription" to the Adams County Free Press.
THE BANK FAILURE, FEBRURY 17, 1904
“The Corning State Savings Bank has failed and is in the hands of the auditor of state. It did not open its doors for business Monday morning; instead the officers telegraphed for the auditor to take charge of it. “ The bank examiner arrived Tuesday afternoon and the paper noted Tuesday evening that it was impossible to secure definite and reliable figures as to the assets and liabilities.”
The news account of February 17 assures the public that "There is a general belief, and good grounds for it apparently, that depositors will be paid in full." The amount due depositors was estimated to be $170,000. “ The paper reported that at the time other liabilities could not be ascertained but said "the assets will aggregate a sum much larger than this. They went on to say, "the amount of uncollectable and doubtful paper will reduce the available assets to a great extent." It was further reported that there had been "no excitement among our people.....the general feeling in the town and county is one of sorrow for those involved in the failure and confidence that the bank will pay all claims."
As to the causes the paper reported "The existing business conditions, which made it difficult to realize quickly on securities, together with the disasters which have inflicted such losses on the crops of the county. The immediate cause was a long and persistent run on the bank. It had been going on steadily for months and it drained the institution gradually until the closing of the doors was unavoidable, Over $100,000 was withdrawn in the past three months." It was further reported the two other banks in the town, had not been affected by the failure as they were able to weather the uncertain business climate in good order.
*This should have been a clue!
Although the papers always say that depositors will be ok there is frequent mention of the stockholders. The Corning State Bank was organized February 4, 1890, by A. F. Okey, Frank, and others. In March of 1900 Mr. Okey retired and the capital stock was increased from $35,000 to $50,000, Frank and an E. A. Scholz being the heaviest stockholders. Frank owned $20,000 of its capital stock and Scholz, $10,000. The paper reported, "That the capital stock will be wiped out is almost beyond question and the portability is that the stock will have to meet a large assessment. The law makes stockholders liable to an assessment equal to the amount of stock held. The man who holds $1000 in stock will have to put up another $1000 in case the assets do not meet the liabilities. The last financial statement of the bank, issued a little less than 4 weeks prior listed assets of $319,378.64 and liabilities of $310,378.81."
SAVINGS BANK SUSPENDS, FEBRUARY 20, 1904 F. L. LaRue, President, Has Assigned All His Property to the Bank, Except His Home Place
“For some time there has been a steady drain on the bank, partially because of the hail storm requiring the farmers to become borrowers, in many instances, in place of depositors, and because of the report that the bank was shaky. These causes are responsible for the failure."
"Usually when a bank breaks the people (…)are ready to hang the officials, but not so in this case. Mr. LaRue, who has been at the head of the institution, who had almost supreme control, has won the friendship of so large a per cent of the people that only proven crooked work will shake their confidence in him.”
“On Thursday Mr. LaRue deeded all his farms aggregating about 600 acres, together with 37 town lots in Corning and his personal property to the bank for its benefit.”
“Of course there is bad paper, but just how much is not known and will not be until the affairs are wound up. It is the rumor that forged paper has been found, that notes have turned up in city banks that were not genuine. This is denied by Mr. LaRue, who says that any note questioned can be accounted for. It is not for a newspaper to pronounce the guilt or innocence and we are only giving what is rumor and certainly trust that the rumor is unfounded.”
FEBRUARY 23, 1904 Looks as if it was picked up by the Associated Press
MEAGER DEVELOPMENTS, FEBRUARY 24, 1904
“The affairs of the Corning State Savings Bank, of which the auditor of state took charge last week, are in a terribly muddled condition. That is practically the only development this week, so far as the public is concerned.”
“As to the stories which have been in circulation during the past week, it is hard to know what to say. That some of them are exaggerated, and that others are absolutely without foundation is unquestionable. At the same time it is also certain that there is truth in some of them, and Mr. LaRue‘s friends realize that something more than a denial is necessary. Mr. LaRue himself is sick and is mentally in such a condition as to be unable to give any explanation, although he denies the forgeries imputed to him. it is established to be on question, however, that notes bearing the signature of reputable men who deny having signed them, and whose word is knocked doubted in the least are in the possession of outside banks, having been deposited with other on disputed notes as collateral."
THE BANK MUDDLE, FEBRUARY 27, 1904 Developments are Coming Slow and Real Facts are Not Obtainable
“We had hoped to give our readers an intelligent statement of what the Corning state Savings Bank investigation would show in this issue but regret to say that it will be impossible to give them anything like a reliable statement.” “Mr. LaRue has not been downtown for several days but it is said he is much improved. The mental strain and worry has been too much for him. He still insists the reported forgery can all be explained away and there have been no criminal steps taken. As we said last week it is not for a newspaper to pass upon the guilt or innocence but to give the facts as near as possible. This we have done and will continue to do. We might say that reported forged notes have turned up that will aggregate many thousand and should they prove genuine there can be but one originator, perish the thought.”
THE BANK FAILURE, MARCH 2, 1904 Little Information as to the True Condition of Affairs is Obtainable.
“Little progress has been made in the direction of straightening out the affairs of the Savings Bank. There has been some delay in securing an expert accountant owing to the fact that the Chicago man whom Receiver Andrews tried to secure wanted $25 a day for his services. Mr. Andrews thought the charge too high and after some correspondence secured C.A. Mast of Davenport.”
“There are practically no new developments since last week and people are settling down to an understanding that it will be some time before the full extent of the disaster will be known and the loss of depositors, if any, ascertained."
LaRUE COMMITS SUICIDE, MARCH 5, 1904
“The Latest - just as we are ready to go to press on Friday the news of F. L. LaRue have having committed suicide comes to us. About 3:00 PM he entered the bathroom at his home, put a 38 caliber revolver to his temple and fired the fatal shot. Death came almost instantly. No one was in the house. He had locked the door and when Mrs. LaRue returned from town she could not find him. She tried the bathroom door and finding it locked called her father, A.M. Beymer, and they broke in the door and the horrible sight met their gaze. Coroner Snavely is holding an inquest. We can give no further particulars this week. He carried about $75,000 life insurance.* ”
THE AWFUL END, MARCH 9, 1904 Frank L. LaRue Ends The Troubles Arising from the Bank Failure by Suicide. “Frank L. LaRue committed suicide last Friday afternoon. Stricken mentally and physically by the failure of the Bank of which he was the president and by the circumstances connected with the disaster, he locked himself in the bathroom at his home and with a revolver ended his life. No one was in the house at the time period his wife, who had been with him constantly during the past three weeks, had gone downtown a few minutes before to get the mail for him. No one heard the shot.
It was about 2:00 when Mrs. LaRue left the house and she was gone only a few minutes. On her return she found he was not in the bedroom where she had left him. With growing alarm she searched the house and finally found the bathroom door locked. Unable to gain an entrance she telephoned her father to come at once. Mr. Beymer forced the door as soon as he arrived and one glance showed him that there was nothing to be done. Without doubt as soon as he was alone Mr. LaRue had secured the revolver, which was thought to have been safely concealed from him and had locked himself in the bathroom. Sitting on the end of the tub he had fired the shot which took his life and had fallen to the floor. The bullet entered the right side of the head a little above and in front of the ear and lodged beneath the skin on the other side. Death was instantaneous. The revolver, a 32 caliber, was clutched in his right hand."
"For a few days after the failure on February 15th Mr. LaRue remained around the bank. He was on the verge of physical collapse, however, and finally gave up and had been confined to the house for more than two weeks and was under the physician's care period there is no truth in the report published in the daily papers that he had attempted suicide by poison. His condition was such, however, as to give rise to the fear that he might kill himself and every precaution was taken against such an event. The means of self destruction can always be secured by a determined man such as Mr. LaRue and all precautions were useless. It was a sad end of life which without stretching the mantle of charity may be said to have been helpful and generous to an unusual degree."
"Coroner Snavely was notified soon after the tragedy and impaneled a jury. The inquest developed the facts given above and a verdict in accordance with them was returned. "
"Mr. LaRue had for years carried an unusual amount of life and accident insurance. How much was in force at the time of his death is not definitely known, but it was in the neighborhood of $75,000 period of this a little less than 60,000 is said to be life insurance and the policies contain no clause regarding suicide period it may be presumed that the accident policies will not be collectible.”
THE BANK FAILURE, MARCH 9, 1904 The Business of the Savings Bank in Such Shape That Progress is Slow and Difficult.
"While the failure of the Corning State Savings Bank, the circumstances connected with it, the terrible act of President LaRue and its effect upon the situation have been the absorbing topics of conversation during the last week the natural desire of the public for definite information as to the final result is still unsatisfied. Nor is there ground for the hope that it will be satisfied in the immediate future. The conditions alluded to in this paper last week are such as make a careful and exhaustive investigation necessary before anyone can tell the amount of the liabilities and the assets.”
END HIS OWN LIFE, MARCH 12, 1904 Worry and Anxiety Causes Frank L. LaRue to Commit Suicide.
“Just as we went to press last week the sad news of the suicide of Frank L. LaRue was received. We could only give it a meager account and probably before the paper was on the press, the news was in every part of the county, the reports spreading like wildfire over the various telephone lines and from mouth to ear.
To report the sad ending of a gentleman who has been at the heart of very nearly every enterprise in our midst for many years, and who has always been a liberal giver to every worthy cause, a cheerful and kind nature, is no easy task and is one that comes to the lot of a newspaper but few times, if ever, in a lifetime.”
BIG DISCREPANCIES, MARCH 16, 1904 The Savings Bank’s Books Are Off Nearly $50,000 in Accounts with Other Banks.
"There has been some progress during the last week in the direction of clearing up the affairs of the Savings Bank, although it is evident that so far as arriving at the assets and liabilities is concerned only a beginning has been made. That the former are smaller and the latter larger than had been thought is certain, but the figures available afford no basis for a statement as to what they will be. The developments are sufficient, however, to establish the fact that the Bank was in a thoroughly rotten condition and had been so for some time and its books were inaccurate and unreliable and the figures could not be accepted without investigation and corroboration. As the true condition of affairs becomes apparent the feeling of indignation and resentment increases as do uneasiness and doubt as to the ability of the Bank to pay even a large proportion of its liabilities. It is a miserable business throughout.”
“Judge Miller held court Monday to consider some of the questions arising from the failure. It was sought to establish a number of preferred claims of various kinds, but no decision was reached as to any of them. Judge Miller has taken them under advisement. There was enough business growing out of the failure to keep him here for a long time, but he had to open court at Creston.”
“The struggle between the attorneys representing the various interests will be strenuous. The courtroom Monday looked like a bar convention. Every Corning attorney is interested in some phase of the difficulty and the creditor banks were represented.(…) The issues will be complicated in every possible way and the prospect is for several years of litigation.”
THE BANK FAILURE, MARCH 19, 1904 The Tangled ….illegible
This issue of the paper is largely illegible. One section seems to be a repeat of things I have seen earlier, that is, the notion of setting aside the conveyance Mr. and Mrs. LaRue made to the bank. I’m not exactly sure what that means but it continues, “ if this is done a petition to have the whole business thrown into bankruptcy may be filed and in many respects that would be a very equitable and short road to a settlement. At the present rate the court costs and attorney fees will suck all the juice out of the orange and the peeling will be turned over to the creditors."
"There is talk of all kinds of suits and it is expected that litigation has only begun. The question is often asked where could the funds of the bank have gone. We think we answered the general opinion last week. The experience of the workings of the Savings bank will be of value to many in the future. When they see a banker getting rich too fast they will begin to become suspicious, especially if he has supreme control of the bank. The law is weak and it is hard to make one fit the case. However there should be a law to protect the public against such banking. If you may live in luxury during their lives at the expense of the many who can ill afford to lose what they had in the bank.”
THE BANK FAILURE, MARCH 23, 1904 No New Developments of Importance During the Past Week.
“There have been no new developments of importance during the past week in connection with the Savings Bank failure. The expert accountant will probably be able to report within 10 days and until this report is ready there is little use in giving figures except those already published in this paper. The report will make an accurate showing of the nominal assets and liabilities, but of course their true value will only be known after the legal proceedings have been finished and the various questions at issued settled.”
After news appearing in every issue of the newspaper since the failure of the bank things settle down for a bit There is nothing of substance in April of 1904.
CLAIMS FILED, MAY 4, 1904 List of Depositors Who Have Filed Claims Against the Corning State Savings Bank
“Next Tuesday is the last day for filing claims against the Corning State Savings Bank.”
The list that follows includes some familiar names: Mrs. A. G. Kennon, $310.60; Edith Kennon,$25.; Myra LaRue, $10.62; Ruth Kennon, $10.47; Frank Kennon, $10; F. J. LaRue (son) ,$3.77 and Anna LaRue (wife), $5213.92.
After the list of claims is an accounting of items owed the bank by Frank L. LaRue and how he came to owe these amounts. Among them are $6,260 in credits to LaRue's account with no debits; a check in the amount of $5,260 from Squire & Annis, property of the bank, deposited to LaRue's account(more on this next).; at least 2 notes totaling $6,616.against depositors are sold to another bank and the proceeds deposited to LaRue’s account.
In addition to bank news is an article extolling the opening of "the greatest exposition in the history of the world." The Louisiana Purchase Exposition in St. Louis, Missouri aka the St. Louis World's Fair.
BANK CASES IN COURT, JUNE 1, 1904 Litigation Arising from the Savings Bank Failure is Now in Progress.
"Judge Miller is once again in town and hearing petitions and setting dates. The paper notes, “An interesting development of the week is the petition filed by the Iowa National Bank of Des Moines. After alleging that the Savings Bank has been insolvent for five years past the petition asks that the court issue an order compelling the receiver to bring suit against all who have been officers or directors within that time to recover the amount of which the depositors and others have been defrauded; also that the stockholders be sued for the amount of dividends received by them in the same. This is in answer to the allegations of the receiver that the Iowa National, which had loaned the Savings Bank something like $80,000. had either been cognizant of LaRue’s embezzlement or had failed to exercise due business procedure, and had thus assisted him in covering up the embezzlement.”
HIGH SCHOOL COMMENCEMENT, JUNE 1, 1904 Graduating Exercises of the High School Class of 1904
Nothing to do with the bank but rather the commencement exercises for 16 graduates, held at the opera house, which had been “profusely decorated with the class colors, red and white.” Afterwards, the annual banquet, held at the Hotel Bacon, was “thoroughly enjoyed. (The Hotel Bacon, only in Iowa, and Cold tongue!)
BANK SUITS BEING HEARD, JUNE 8, 1904
Judge Miller Has Been Listening to the Evidence and Arguments in Bank Suits. “The sessions of the district court last week were well attended. As has been stated before Judge Miller will devote all of his time to the trial of the bank's cases and he has already made great progress. There are over 100 of these suits pending and it is impossible to reach all of them at this time.” The article outlines some “interesting developments” in the trial of the suit involving W.O. Mitchell's, Queen City farm. The chain of events regarding that claim are as follows:
October 1903: LaRue wired Senator Mitchell of Oklahoma City that he had a chance to sell Mr. Mitchell’s farm, consisting of 420 acres for $25,260 cash, the purchaser being one Archibald White of Illinois. The offer was accepted and the deed to the land was executed and left in escrow, with LaRue, to be delivered when payment was made.
January 2, 1904: Mitchell, having heard nothing and receiving no payment from LaRue came to Corning and “in his vigorous manner expressed himself” as being doubtful that White existed. LaRue then produced correspondence purporting to come from White from which it seemed that the latter was very anxious to close the deal. This coupled with the statement that White had paid $1000 forfeit money and was ready to close the deal upon receipt of the abstract. Mitchell was “completely disarmed” and returned to Oklahoma to await remittances. LaRue then said if White did not take the place he would do so himself and then and there paid Mitchell $750.
ca January 5, 1904: A Mr. Annis of the firm of Squire & Annis of Council Bluffs was in town and LaRue informed him that he had a “great snap” for someone with a little money. He informed Annis of the Mitchell-White deal and stated that White on account of an operation for appendicitis had decided to forfeit his $1000. and the land could be had for $24,260. In addition LaRue had a man “of means and energy” in the person of W. M. Carpenter who would purchase the land and pay $2000 additional for it. Annis was convinced and the deal was closed, he put up his check for $5,260 and Carpenter for $2000.
The deed for the Mitchell farm which had been placed in escrow was taken down, the name Archibald White erased and the names of J.W. Squire and Frank L. LaRue inserted. Squire took the deed and had it recorded and LaRue sent Mitchell $4000 instead of the $10,260 still due him.** The $2,000 check from Mr. Carpenter was torn up and he “went west.”
When the bank crashed Mr. Mitchell arrived on the scene and was astonished to find he had sold his farm to J.W. Squire and F.L. LaRue and that he was out $6,200.*** In the meantime Squire had taken possession of the farm and LaRue had deeded it all over to the Iowa National Bank.
At trial, judgement was against Squire for $6,400 and costs. “It clearly appeared upon the trial that there was no such person as Archibald White and that W. M. Carpenter was not a bona fide purchaser."
Another petition against the estate came before the court wherein LaRue was the special administrator of the estate of a Joseph Martin and that funds totaling $12,000 were deposited to the account of F. L. LaRue and all but $800-$900 were squandered.
In yet another, a Mrs. Showers alleged she sent $3,100. to LaRue for investment. She received $1,100 in repayment; the balance being converted by LaRue to his own use.
RECEIVER’S FIRST REPORT, JUNE 8, 1904
Receiver Andrews Makes His First Report as to the Condition of the Savings Bank. The paper prints, in full, the report given to the district court by C. F. Andrews, receiver of the Corning State Savings Bank. Of interest are two items, the first:
“In my inventory is referred to, and, a copy set out, of the conveyance made by F. L. LaRue of certain real estate and personal property to the bank for the use and benefit of its creditors . Since said inventory was filed Anna R. LaRue, administrix of the estate of F. L. LaRue, deceased, has filed in this court her petition in equity asking that said conveyance be set aside and held for naught on the ground, as is claimed, that said LaRue was mentally incapable of making said conveyance at the time it was made. Said suit is still pending and undetermined.”
The next section, finally, lays out the extent of LaRue’s crime. “It is apparent at this time, that F. L. LaRue, during his lifetime, and, while acting as President and Manager of said bank, dissipated its funds and assets, embezzled and converted to his own use large amounts of the same, amounting to many thousands of dollars, and, in order to conceal his embezzlements and conversions, had so manipulated the books and records of the bank, that the settlement of its affairs will be greatly hindered and delayed, and will cause much litigation in attempting to wind up its affairs. The amounts so embezzled and converted, in many instances, are not shown by the records and books of the bank, but, the facts have been ascertained by investigation through outside banks and sources and from persons with whom he had various business transactions. In instances he has apparently discounted notes to outside banks and fully endorsed and guaranteed the payment of the same in the name of the Corning State Savings Bank where the notes so discounted and endorsed are claimed to be forgeries. Notes of this character are claimed to have been discounted by the Iowa National Bank, of Des Moines, Iowa, which will amount in the aggregate to perhaps $50,000, and, in all cases where such notes have been discounted in the name of the Corning State Savings Bank by said LaRue, said parties are now making claims against the assets of the Corning State Savings Bank on account of such endorsements and guarantees.”
At the bottom of page 1 is a listing of assets totaling $230,064. Page 2 is a listing of claims against the bank as well as amounts collected from customers. As near as I can figure the claims total $297,279. Among amounts collected are notes and deposit box rents as well as the sale of items from the bank. The sale of rubber stamps brought in 35c., the refund on burglar insurance after the policy was cancelled, $7.45, the sale of a file case to another bank in town, $5.00 and the return of Postoffice keys, 80c. Among the notes paid by customers was a familiar name, Myra LaRue, Frank's sister, paid her note in the amount of $272.08. Mr. Andrews lists his expenses as well, among them: typewriter paper, 10c; postal cards, $1.60; laundry and toilet paper, 20c; and matches, 25c.
COURT NEWS, JULY 20, 1904
Court news finds Judge Miller is again fielding 100's of cases against Frank and the bank. On note this day is that Anna LaRue has been replaced as administratrix of Frank's estate but not before being allowed to pay herself $5,586.13, proceeds from life insurance and $11,172.27 as guardian of Frank J. LaRue, minor. The new administrator is ordered to expend an amount not to exceed $150.00 for the erection of a monument.
INSURANCE POLICIES, JULY 23, 1904
The paper prints a full accounting of the life insurance policies held by Frank and their payouts as well as a list of policies that did not pay out because they either contained a suicide clause or were accident policies. The estate received $16,600; Anna $5683 plus $250 a year for 20 years; Frank Jr. $5000 plus $250 a year for 20 years.
TURNS OVER TO BANK, JULY 23, 1904 Mrs. Anna LaRue Proposes to Relinquish All Claim to Her Interest in Estate.
It is reported that Anna LaRue has offered to relinquish all her claim in the estate of her husband, she asks only that her attorney fees be paid out of the proceeds and that she keep her shares in the Philippine Lumber and Development Company. The items she offers to turn over include 5 shares stock in the Corning Opera House, 87 1/2 shares stock in Corning Electric Company (it notes these are probably worthless), her homestead and two and one-half lots, shares in a few other enterprises that are probably of no value, a barn, ice house, a three lots, a top buggy and Idaho mine (undoubtably worthless, the paper reports). What she is offering to give up is all the property she possesses except her life insurance. The article says she has received a little more than $11,000 and her son Frank, Jr. a little more than $16,000 as well as policies providing annual payments. These numbers are a little different than those reported a few days earlier. The receiver did not accept the proposition but left it to "those concerned" and the paper reported efforts were being made.
A reporter, upon hearing of this interviewed Mrs. LaRue; "She was very pleasant and said during all the litigation she was acting under the advice of her attorneys, that she never had any business experience and this placed her in an awkward position, and the fact that she knew very little about court business rendered it necessary for her to rely wholly on the advice of others, which she had done, and was now convinced she had not taken the proper course, and against their advice she had elected to take the step which she now proposes. The amount will not be large bin in doing as she has done Mrs. LaRue has shown an appreciation of her moral obligations, regardless of legal responsibility, and the lady is to be commended for the position she has taken." The reporter closes with, "Every day something new turns up in the muddle and when it is all settled and the creditors get what is allotted them they will breathe a sigh of relief."
MORE COMPLICATIONS, SEPTEMBER 14, 1904
The paper announces there has been yet another complication surrounding the bank failure. A Harry Blackburn of the Iowa National Bank sued the Aetna Life Insurance company to recover on a policy on the life of LaRue in the amount of $2000. Apparently LaRue had assigned the policy to Blackburn before his death. Aetna did not pay out on the policy because the manner of death was a suicide but Blackburn maintains that the policy is good in his hands even though there is a question as to the manner of LaRue's death.
AN IMPORTANT DECISION, OCTOBER 12, 1904 LaRue Deed Conveying Property to Bank Held Good by Judge Miller.
Judge Miller held that the deed by which LaRue conveyed his farms and other real estate to the bank was valid. The property is valued at about $35,000. Anna LaRue had tried to have the conveyance overturned because her husband was insane and insolvent at the time. The paper reports "The decision leaves the estate with only a few town lots as assets, while the claims against it will amount to over $300,000."
During the same court calendar a T. J. Vidler of Pana, Illinois was established as a depositor. He claimed he sent $3,125. to LaRue for investment but it was converted by LaRue to his own use.
PROPERTY SALE, OCTOBER 22, 1904
Notice appears in the paper advertising the sale of the personal property of F. L. LaRue. It will include the LaRue farm 2 miles north of Corning, as well as all real estate that has come into his hand which consists of over 1000 acres, several residences and town lots in Corning, the bank building, etc. THE SQUARE THING, JANUARY 18, 1905
Anna LaRue, who now lives in Minidoka, Idaho, sends to the Receiver one hundred shares in the Philippine Lumber and Development Company with instructions to apply the proceeds from their sale for the benefit of the depositors. The shares cost $2500 and it was thought that given time they would be of considerable value. The news article commends Anna LaRue saying the stock was 'but another indication of the disposition Mrs. LaRue has shown from the first to do the right thing in the difficulties growing out of the failure of the Savings bank. She has done everything in her power to make things easy for the receiver and has done far more than the law could demand of her. She relinquished all claims in the estate of F. L. LaRue and before leaving Corning she deeded to Ralph Newsomb, treasurer of the school district the homestead in this city. She has acted in a most commendable spirit throughout and the things she has voluntarily done have added appreciably to the dividends which will be paid depositors."
DISTRICT COURT, JUNE 14, 1905 The Courts section lists some "income" and expenditures against the estate. The sale of stock in the Corning Opera House netted $27.50 and the guardian of Frank J. LaRue, minor, was allowed $1,000 to expend on schooling of the ward.
ORIGINAL NOTICE OF FINAL REPORT, MARCH 13, 1907 There is a small legal notice in the paper announcing the final report to be given in the estate of F. L. LaRue. It’s notifying Frank LaRue’s family and any and all persons having or claiming to have claims against the estate to appear.
NOTICE OF FINAL REPORT AND SETTLEMENT OF THE AFFAIRS OF THE CORNING STATE SAVINGS BANK, MAY 4, 1910
On the front page of Adams County Free Press it is reported that Halley's comet is now visible to the naked eye; buried on page 10 is a legal notice given by Receiver C. F. Andrews that he has fully discharged his duties in the matter of State of Iowa vs Corning State Savings Bank and requests that his bond and bondsmen be exonerated.
It has been 6 years, 2 months, and 19 days since the Monday morning the Corning State Savings Bank failed to open on Monday, February 15, 1904.
ANNA BEYMER LARUE AND HER SON FRANK JUNE LARUE
Anna and her son, Frank left Iowa for Rupert, Idaho in about 1905, she moved with her brother, Arthur Beymer. They first settled at Minidoka and then homesteaded three miles south of Rupert when the Minidoka Project opened. After her brother married in 1909 she moved into the town of Rupert.
Anna was the eldest daughter of Arthur McIntyre and Amine (Strickland) Beymer, she had two sisters and two younger brothers. Her father was in the lumber and hardware business in Corning and later was appointed Postmaster. After the death of his first wife he remarried and relocated to Carthage, Missouri where he built up a large factory manufacturing wire spring beds. Eleven years later he sold his business and moved to Rupert, Idaho but found the altitude too high and moved to Seattle. He died in 1934 two months short of age 90 and is buried in Corning.
I can't find much about Anna's mother except that she was born in Clyde, Ohio and died in Corning, Iowa on Dec. 30, 1904.
Anna died November 23, 1951 in Salt Lake City, Utah where her grandson, Frank Eames LaRue lived, she was 85. Her obituary reports that she was a pioneer of the Minidoka project and very prominent in town affairs. During World War I she was in charge of the Red Cross sewing room. Later, in 1920, she became librarian, a post she held until 1945.
Rupert is in the southern part of Idaho about 75 miles west of Pocatello. A quick perusal of the Adams County Free Press shows several Corning residents relocating to Rupert, some specifically to work on the project. The Minidoka Project was one of the oldest Bureau of Reclamation projects, it was a series of public works to control the flow of the Snake River in Wyoming and Idaho. The Minidoka Project contributed to the settlement of the Snake River Plain and river valley, converting semi-arid land in to productive farmland. The population rose from a few thousand people in 1915 to more than 200,000 by the 1980s.
In October of 1943 the government opened a WWII Prisoner camp, called Camp Rupert, where Italian, German and Russian prisoners of war were kept. It is said that many of them established good relations with the local farmers for whom they were forced to work."
Frank June LaRue
Frank J. LaRue was born October 11, 1887; he was 16½ years old at the time of the bank failure. His name shows up periodically when his appointed guardian ad litem is changed. In September of 1904 it is reported that he will attend college at Lake Forest, Illinois.
An article in September of 1905 says he and his uncle Arthur Beymer are visiting Corning from their home in Rupert, Idaho where they are engaged in the lumber business. In November of 1905 it is reported that his mother is en-route to Corning for a brief visit and will then spend the winter in Chicago where her son is attending school. From this I can't tell whether Frank graduated college or not before settling in Rupert where he and his uncle Albert M. Beymer, Jr. ran a hardware and lumber store.
Frank married Lucille Shilling on July 13, 1911 at Ocean Park, California. On July 14, 1915 he conveys, for $1.00, to his aunt Daisy Kennon part of "lot 11, Ingalls sub-division. I believe this to be the home, on Grove Avenue, that she lived in until her death. Both the 1920 and 1940 census record that she owns the home free and clear.
Frank June LaRue died of cerebral meningitis at the age of 30 on March 4, 1918, exactly 14 years to the day after his father's death. Lucille is then present in the 1920 and 1930 census in Rupert, Idaho. She died in San Francisco a little more than 2 months later, on June 20, 1930, her children were ages 12 through 18.
Anna Beymer LaRue, their grandmother, cared for them until they were all married.
A little bank history and some pictures. The Corning State Savings Bank was established in 1890 by A. F. Okey. When he left to open his own bank, The Okey-Vernon Bank, Frank LaRue became president of the savings bank. Frank had been working there as a cashier since it's inception. Frank was president from 1900 until the collapse in 1904. The photo shows the Corning State Savings Bank in the middle of the block. I believe the large bank on the corner was the Okey-Vernon Bank. The Okey-Vernon bank later became Okey-Vernon National Bank and was located in Corning until just a few years ago. At the time there was a third bank in town and it too was on Davis Street although I believe it was on the other side.
The building has recently been renovated and has become a gourmet food shop specializing in meat. They say the meat is so good, all you need is fire and salt to prepare it, hence the name of the establishment.The interior walls are the original brick and the tin ceiling was saved. One can even see the safe.
