Sturgeon Bank - Sturgeon, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 1, 1895*
Location: Sturgeon, Missouri (39.234, -92.281)

Metadata

Model: gpt-5-mini
Short Digest: e1aec8f6

Response Measures

None

Description

Article (Mexico Weekly Ledger, 1896-01-23) reports embezzlement by cashier W. H. Winscott discovered in June; the bank went into the hands of a receiver in October (previous year) and is being wound up. No run or depositor panic is mentioned; primary cause is bank-specific adverse information (embezzlement).

Events (3)

1. June 1, 1895* Other

Newspaper Excerpt: The embezzlement was found out last June, and amounted to $3,500, of which sum Winscott made restitution to the amount of about $2,000.
Source: newspapers

2. October 1, 1895* Receivership

Newspaper Excerpt: In October last the Sturgeon Bank went into the hands of a receiver, and he is now winding up its affairs.
Source: newspapers

3. October 1, 1895* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Embezzlement by cashier W. H. Winscott discovered in June; shortage about $3,500 leading to receivership.
Newspaper Excerpt: In October last the Sturgeon Bank went into the hands of a receiver, and he is now winding up its affairs.
Source: newspapers

Newspaper Articles (1)

1. January 23, 1896 Mexico Weekly Ledger Mexico, MO

Article from Mexico Weekly Ledger, January 23, 1896

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Article Text

W. H. Winscott Under Arrest. TAKEN FROM ST. LOUIS TO COLUMBIA ON A CHARGE OF EMBEZZLEMENT. The Sturgeon Bank Trouble Causes an Indictment to Issue Against Him -Satisfied He Can Give Bond. W. H. Winscott, formerly a citizen of Mexico and well known here, is, unfortunately, again in trouble over the Sturgeon Bank matter. Mr. Winscott was taken from St. Louis to Columbia Tuesday night by the Sheriff of Boone county, having recently been indicted by the Grany Jury of that county. Attorney W. W. Fry, of this city, went to Columbia to-day to make arrangements for a bond for Mr. Winscott. The St. Louis Globe-Democrat,speaking of the arrest, says: Wm. H. Winscott was arrested at Judge & Dolph's drug store, Seventh and Locust streets,last night by Sheriff Stockton, of Columbia, Mo., and two local detectives on an indictment from Boone county, charging him with embezzling the funds of the Sturgeon Bank, of Sturgeon, Mo., while cashier of that institution. The embezzlement was found out last June, and amounted to $3,500, of which sum Winscott made restitution to the amount of about $2,000. The bank subsequently went into the hands of a receiver, and an indictment was found last November. The arrest last night was not without its exciting features. Winscott was employed as nighteclerk at the drug store. He went on duty about 7 o'clock, and the two detectives, who were waiting for him, entered the store and made the arrest. Winscott at first did not know what to make of it, and in his surprise grabbed his revolver, which was on the counter back of him. He did not use the weapon, however, but surrendered to the officers, who turned him over to Sheriff Stockton. The Sheriff accompanied Winscott to his home, 4219 Olive street, so that the prisoner could prepare for the trip and notify his family of his arrest. Three hours were spent at the house, after which the Sheriff and Winscott went to the Union Station and boarded a train for Columbia, the county seat of Boone county. Winscott's bond has been fixed at $2500 by the County Court, and before leaving last night he said that he was confident of getting bondsmen, and he would be back in St. Louis by tomorrow morning. Winscott comes of a well known family in the north central part of Missouri. His father is Squire J. J. Winscott, of Mexico, Mo. Hisbrother, James H. Winscott, is a prominent merchant of Sturgeon, Mo. Winscott was cashier of the Sturgeon, Mo., Bank for eight years. His salary ranged from $700 to $900 per annum, and from time to time, so he says, he appropriated the funds of the bank to support his household. Last June, not being able to stand the strain any longer, he called in the President and other officers of the bank and made a complete confession, acknowledging the embezzlement and fixing the amount of the shortage at $3,500. State Bank Examiner Austin shortly afterward went over the books of the bank and found the amount approximately correct. Winscott consulted his wife and then turned over all his property to the bank officials. His home in Stargeon was valued at about $1,500. He also signed over his life insurance policies to the President of the bank. No criminal proceedings were brought against Winscott at the time, and he was assured by his former employers that they would not prosecute him, provided he made an effort to make good the shortage. Last August Winscott, accompanied by his wife, left Sturgeon and wentto Chillicothe, Mo., remaining there a week and then coming on to St. Louis. In October last the Sturgeon Bank went into the hands of a receiver, and he is now winding up its affairs. In November the Grand Jury of Boone County found an indictment against Winscott for embezzlement, but for some unknown reason the arrest was not made until last night. d Both Mr. and Mrs. Winscott were seen at their home, 4219 Olive steet, last night, before the former's departure. Mr. Winscott was averse to discussing the case, but appeared to d have no apprehensions as to the ultimate outcome of the charges against him. Mrs.Winscott was considerably agitated, as the arrest of her husband of had taken her by surprise. In fact = neither of them expected that the warrant would be served as a friend