11012. Bank of Hermanville (Hermanville, MS)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
state
Start Date
March 19, 1914
Location
Hermanville, Mississippi (31.959, -90.840)

Metadata

Model
gpt-5-mini
Short Digest
d3081a06

Response Measures

Full suspension, Books examined

Other: Former cashier charged with embezzlement; attorneys/examiner involvement noted

Description

Articles (Mar 1914) report the Bank of Hermanville suspended after discovery of alleged embezzlement by its cashier; depositors withdrew funds which crippled the bank and led directors to close. There is an OCR/name discrepancy: one article names J.W. Clark, others John M. Sparke as former cashier. No reopening or receiver assignment is reported; officers expressed belief assets adequate, so ultimate outcome is unclear.

Events (2)
1. March 19, 1914 Run
Cause
Bank Specific Adverse Info
Cause Details
Alleged embezzlement by the bank's former cashier (shortage estimated $11,000-$18,000) prompted depositor uneasiness and withdrawals.
Measures
Directors decided to close the bank until the actual condition of affairs could be ascertained.
Newspaper Excerpt
several of the depositors became uneasy and drew out their deposits. This crippled the institution
Source
newspapers
2. March 19, 1914 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended after discovery of embezzlement by former cashier and subsequent heavy withdrawals that 'crippled the institution.'
Newspaper Excerpt
BANK CLOSED. Bank of Hermanville Suspends Business. Former Cashier Charged With Embezzlement.
Source
newspapers

Newspaper Articles (3)
1. March 19, 1914 The Port Gibson Reveille Port Gibson, MS
Article from The Port Gibson Reveille, March 19, 1914

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Article Text

BANK CLOSED. Bank of Hermanville Suspends Business. Former Cashier Charged With Embezzlement. Hermanville has had more than its share of trouble this year. About two months ago it suffered a disastrous fire which came near bankrupting several of its merchants. And now its only bank has been forced to close its doors. Last Friday former cashier J.W. Clark was arrested on a warrant sworn out the by bank's president Dr. E. P. Jones, accusing him of embezzlement on two counts. He was placed under bonds aggregating $6000, and his preliminary trial set for yesterday. In the mean time several of the depositors became uneasy and drew out their deposits. This crippled the institution, and the directors decided to close until the actual condition of affairs could be ascertained. Yesterday several attorneys went out from Port Gibson to take part in the proceedings, but the defendant waived examination, and the case will come before the circuit court in June. His bonds were increased to $15,000, which was promptly furnished, about twenty friends being on band to sign their names. The shortage is variously estimated from $11,000 to $18,000. Mr. Clark claims that he simply overdrew bis account, making no secret of the transaction. This the directors deny. The bank was organized in 1906 with a capital stock of $25,000. Its statement in January showed deposits of $34,506, surplus $4,000, bills payable $8,500, loans and discounts $52,573-of which $5, 700 was loaned to officers, directors and stockholders,-overdrafts $4,713, banking house, real estate, etc., $5,063, due from other banks $6,555, cash on hand $1,482. It had 26 stockholders and 328 de. positors. Dr. E. P. Jones was president, and J. W. Clark was cashier until a few weeks ago when John A. Gradick was elected cash. ier and Mr. Clark made manager. There had been friction between President Jones and Casbier Clark for some time, the public considering it due to personal differences. A short time ago, howeuer, an expert accountant dropped into the bank and examined the books. It is said that his report caused the arrest.

2. March 26, 1914 Oxford Eagle Oxford, MS
Article from Oxford Eagle, March 26, 1914

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Article Text

RELEASE CASHIER ON BOND. Charged with Embezzling $11,000 from Defunct Hermanville Bank. Hermanville.-Join M. Sparke, for mer cashier of the Bank of Hermanville, which suspended a few days ago, has been released in $15,000 bail after a preliminary hearing on charges of embezzlement. The charges include two counts, one of $6,000, the other of $5,000. While no statement of assets or liabilities was issued. officers of the bank express the belief that its indebtedness would be paid in full, as the assets were adequate.

3. March 27, 1914 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, March 27, 1914

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Article Text

commonly called "The New Opera House," is being torn down. McComb City. James T. Weir was instantly killed here by an Illinois Central engine at a crossing. Oxford. Miss Annie Lewis died at her home in this city with pneumonia, and was buried at College Hill. Jackson. The state of Mississippi has purchased $1,000 worth of blooded stock for the penitentiary farm. Coldwater. The rapid increase of appendicitis cases in this vicinity has caused a movement for opening a hospital here. Meridian. The new First Presbyterian church, which has just been completed at a cost of about $50,000, will be dedicated Sunday, March 29. Booneville. Hon. A. J. McIntyre, a successful lawyer of this place, has announced his candidacy for chancellor of this, the first chancery district. Crystal Springs. For the benefit of the cemetery fund the U. D. C. gave a spelling match in the school building. Quite a nice sum was realized to beautify the city of the dead. Meridian. Mrs. C. E. Smith, aged 80, was burned when her clothing caught fire from an open grate. Mrs. Smith was burned about the face and hands. Her burns are not serious. Yazoo City. Minnie Bulloch, a negro woman, was killed by a street car while en route to town with a baby and heavy bundles in her arms. The baby was not badly hurt. Yazoo City. A knitting mill for Yazoo City, with a capital stock of probably $50,000, was projected here by local capitalists, and almost half the capital stock has already been pledged. Hermanville. John M. Sparke, former cashier of the Bank of Hermanville, which suspended a few days ago, has been released in $15,000 bail after a preliminary hearing on charges of embezzling $11,000. Vicksburg. The arrival here of fifty-nine bales of cotton, consigned to a local firm, shipped from El Centro, Imperial Valley, Cal., was perhaps the longest route that a load of cotton ever came to the Vicksburg market. Canton. Two young men of the U. S. marine service who had deserted their regiment at Pensacola voluntarily surrendered here to Capt. Short. One of them claimed to be from Tennessee and the other from Michigan. Gulfport. Fire of unknown origin destroyed two beautiful homes on East Beach. The blaze originated in the home of Dr. and Mrs. R. A. Anderson, who barely escaped with their lives from the burning building. Canton. At a meeting of Canton lodge, B. P. O. E., the following officers were elected: S. G. Loeb, exalted ruler; W. D. Lowe, esteemed leading knight; J. W. Ston, secretary; C. G. Bell, treasurer; J. F. O'Malley, tyler. Meridian. Will Dorsey shot and instantly killed his wife, Viola Dorsey, negroes. Dorsey shot the woman to death in cold blood, three bullets entering the back of her head, coming out in the forehead. Dorsey is in the county jail. Gulfport. The field day exercises to be held here will include music, recitations, declamations, spelling and high jump, broad jump, potato race, egg race, pole vaulting and sack race. The awarding of prizes and medals for music, readings, oratory, quartette singing, speaking, etc., will occur in the auditorium of the city hall. Meridian. A storm of protest has been made over the working of a white man named Thrash in the city chain gang. Thrash was recently convicted of selling whisky and fined $50.50 in police court. The main protest made was because Thrash was compelled to work with a shovel and broom with the regular street gang of negroes and was attired in stripes. Derma. Walter Dye, a farmer living north of here, was burning brush in his new ground and was seized with a convulsion and fell into the fire. He died from the burns. Meridian. The building committee