Exchange Bank - Atkinson, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 19, 1901
Location: Atkinson, Nebraska (42.531, -98.978)

Metadata

Model: gpt-5-mini
Short Digest: adb1936e

Response Measures

None

Description

Article (1901-07-19) reports the Exchange Bank of Atkinson had gone under, a receiver completed work and large losses occurred; failure linked to embezzlement by ex-State Treasurer Bartley (bank-specific adverse information). No contemporaneous run is described — this is a suspension/closure with receivership.

Events (2)

1. July 19, 1901 Receivership

Newspaper Excerpt: only $8,000 was realized after the receiver finished his work.
Source: newspapers

2. July 19, 1901 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank went under amid embezzlement by ex-State Treasurer Bartley; large shortage and receiver appointed.
Newspaper Excerpt: He has unearthed some new information concerning the Exchange bank of Atkinson, which was Mr. Bartley's bank before it went under. The state had $55,000 deposited in this bank and only $8,000 was realized after the receiver finished his work.
Source: newspapers

Newspaper Articles (1)

1. July 19, 1901 The Red Cloud Chief Red Cloud, NE

Article from The Red Cloud Chief, July 19, 1901

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Article Text

IS TO COLLECT UP Opinion Prevails That Bartley Will Reduce Shortage. INTERESTED PARTIES WILL NOT SAY Governor Savage Silent as to Real Meaning of Parole, but Claims That If His Plans Succeed Taxpayers of the State Will Not Feel Sorry. Notwithstanding Governor Savage's refusal to make known his plans, it is taken for granted by those acquainted with the circumstances of ex-State Treasurer Bartley's parole that he hopes to recover a considerable part Mr. Bartley's shortage. "If I succeed in my plans," said Gov- ernor Savage, "the tax-payers of the state will not be sorry that I paroled Bartley," "How much money do you hope to recover?" was the question asked Gov- ernor Savage. "I have not said that I expect to recover any money," he replied smil- ingly. Secretary Royse of the state banking board who has been corresponding with various parties in regard to the supervision of receivers of state banks, a work which was imposed upon the banking board by the last legislature has been peering into several defunct concerns. He has unearthed some new information concerning the Exchange bank of Atkinson, which was Mr. Bart- ley's bank before it went under. The state had $55,000 deposited in this bank and only $8,000 was realized after the receiver finished his work. Collection Campaign. Whether this movement is connected with a general movement started by Bartley to collect in money which may be due him, or whether it is merely a coincidence, will develop with time. Friends of Mr. Bartley have always contended that he had loaned money to men who were unable to return it when he was called to account for state funds. Without uttering a word, Bartley was convicted of embezzling $201,000, the proceeds of one state war- rant. "I would not be surprised," said a politician, "to find that Bartley and his attorney have already collected quite a large fund from persons who had the use of state funds. It is cer- tain that an effort will be made to collect much of the shortage, and no doubt the decision of the supreme court in the Ben Miles case will greatly ac- celerate collections from such sources, as no borrower of state funds will care to face a decision of that nature. Whether that decision is applicable to persons who secured money from Bart- ley may be doubtful, but no one de- sirees to test it. As to Bartley's telling anything, I do not believe he will utter a word."