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Story
October 30, 1911
The Evening Times
Grand Forks, Grand Forks County, North Dakota
What is this article about?
In 1908, the First National Bank of Tolley lost $300 in unsigned new bank notes in an express office fire. The Treasury denied replacement without proof. Three years later, Senator McCumber urges officials to reimburse, assuming destruction amid theft suspicions.
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MAY BE REIMBURSED
Probable That Tolley Bank Will Secure Money That Was Burned
Washington, Oct. 30.—Senator McCumber has reopened with officials of the treasury department the question of reimbursing the First National bank of Tolley for the loss of $300 in new bank notes through the burning of the express office at that place in the fall of 1908.
It will be recalled that the bank sent to the treasury department here $300 in old and mutilated currency and in return the department printed a like amount in notes of the bank and expressed it to Tolley. It was not real money, requiring the original signatures of the officers of the bank to make it bonafide currency.
In due course the package reached the express office at Tolley. The agent met an official of the bank and informed him of its arrival. For some reason several days elapsed before any further steps were taken by the bank. Meanwhile, the express office caught fire and was completely destroyed, not a vestige of the $300 in crisp, new bills remaining.
The express company refused to make good the loss, claiming that it was not $300, but merely certain paper in the form of bank notes but having no actual value. The Tolley bank then laid the situation before the comptroller of the currency and asked that another $300 be printed to take the place of the money destroyed.
After careful consideration, the treasury officials refused to comply with this request, contending that the regulations require absolute proof of the destruction of currency before it can be replaced.
Inasmuch as not even the charred remains of the $300 in bank notes had been produced which would have been all of the identification and proof required, the bank must stand the loss unless the express company altered its position in the premises.
There was a lurking suspicion in the minds of some persons that a theft might have preceded the fire which destroyed the express office. In that event the thieves could have forged the names of the bank officers, thus making the bank notes real money, circulating them at a point far removed from Tolley.
Inasmuch as three years have passed and none of the missing notes have turned up, Senator McCumber feels that it is fair to presume that they were utterly destroyed in the fire and hopes to be able to convince the treasury officials that this is the only reasonable position for them to take.
Probable That Tolley Bank Will Secure Money That Was Burned
Washington, Oct. 30.—Senator McCumber has reopened with officials of the treasury department the question of reimbursing the First National bank of Tolley for the loss of $300 in new bank notes through the burning of the express office at that place in the fall of 1908.
It will be recalled that the bank sent to the treasury department here $300 in old and mutilated currency and in return the department printed a like amount in notes of the bank and expressed it to Tolley. It was not real money, requiring the original signatures of the officers of the bank to make it bonafide currency.
In due course the package reached the express office at Tolley. The agent met an official of the bank and informed him of its arrival. For some reason several days elapsed before any further steps were taken by the bank. Meanwhile, the express office caught fire and was completely destroyed, not a vestige of the $300 in crisp, new bills remaining.
The express company refused to make good the loss, claiming that it was not $300, but merely certain paper in the form of bank notes but having no actual value. The Tolley bank then laid the situation before the comptroller of the currency and asked that another $300 be printed to take the place of the money destroyed.
After careful consideration, the treasury officials refused to comply with this request, contending that the regulations require absolute proof of the destruction of currency before it can be replaced.
Inasmuch as not even the charred remains of the $300 in bank notes had been produced which would have been all of the identification and proof required, the bank must stand the loss unless the express company altered its position in the premises.
There was a lurking suspicion in the minds of some persons that a theft might have preceded the fire which destroyed the express office. In that event the thieves could have forged the names of the bank officers, thus making the bank notes real money, circulating them at a point far removed from Tolley.
Inasmuch as three years have passed and none of the missing notes have turned up, Senator McCumber feels that it is fair to presume that they were utterly destroyed in the fire and hopes to be able to convince the treasury officials that this is the only reasonable position for them to take.
What sub-type of article is it?
Historical Event
Mystery
Curiosity
What themes does it cover?
Misfortune
Justice
What keywords are associated?
Bank Notes Destruction
Express Office Fire
Treasury Reimbursement
Senatorial Intervention
Suspected Theft
What entities or persons were involved?
Senator Mccumber
First National Bank Of Tolley
Where did it happen?
Tolley; Washington
Story Details
Key Persons
Senator Mccumber
First National Bank Of Tolley
Location
Tolley; Washington
Event Date
Fall Of 1908
Story Details
The First National Bank of Tolley lost $300 in new bank notes due to a fire at the express office in fall 1908. The Treasury refused replacement without proof of destruction. Senator McCumber seeks reimbursement, presuming total destruction after three years without the notes surfacing.