First National Bank - Earlville, NY

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 4493
Charter Number: 4493
Start Date: June 28, 1911
Location: Earlville, New York (42.741, -75.544)

Metadata

Model: gpt-5-mini
Short Digest: 53091733

Response Measures

Accommodated withdrawals, Books examined

Description

Cashier Guy H. Clark admitted stealing $43,000; announcement prompted a (small) depositor run but the bank was described as solvent and received funds from Chenango National Bank to meet withdrawals. No suspension or closure mentioned.

Events (3)

1. December 30, 1890 Chartered

Source: historical_nic

2. June 28, 1911 Run

Cause: Bank Specific Adverse Info
Cause Details: Cashier Guy H. Clark mailed a confession admitting he had stolen $43,000 from the bank.
Measures: Bank officials summoned a bank examiner (A. L. Fowler); Chenango National Bank cashier H. H. Higley hurried to Earlville with funds to meet any emergency; transfers of the cashier's stock and property were made toward restitution.
Newspaper Excerpt: The announcement caused a run on the part of depositors.
Source: newspapers

3. August 28, 1937 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (2)

1. June 29, 1911 Newark Evening Star and Newark Advertiser Newark, NJ

Article from Newark Evening Star and Newark Advertiser, June 29, 1911

Click image to open full size in new tab

Article Text

$43,000 THEFT IS ADMITTED BY BANK'S CASHIER Notifies Officials of Institution by Mail That He Took Large Sum. UTICA, June 28.-A letter mailed in this city Monday night and received by the officials of the First National Bank of Earlville, a village a few miles south of here, Tuesday, informed them that the bank had been robbed of $43,000. The letter was from Guy H. Clark, 40 years old, cashier of the bank who was supposed to be visiting an invalid daughter at Saranac Lake. It was not until yesterday afternoon that the bank made public the announcement that its càshier had gone wrong Immediately after receiving the letter the officials sent for a bank examiner. A. L. Fowler came in response to the summons, and after several hours' work verified the statements made in Clark's letter as to the amount of the shortage. The announcement caused a run on the part of depositors. It is certain, however, that the bank is solvent. There is a surplus of $65,000, and H. H. Higley, cashier of the Chenango National Bank of Norwich, hurried to Earlville with sufficient funds to meet any emergency. Clark was one of the most respected residents of the town. His father, John A. Clark, who died two years ago, was president of the Sidney Bank, and the family has been prominent in the Chenango Valley for many years.

2. July 7, 1911 The Olneyville Times Providence, RI

Article from The Olneyville Times, July 7, 1911

Click image to open full size in new tab

Article Text

CASHIER TELLS OF STEALING $43,000 Writes from Hiding Place to Bank Confessing Crime-Institution Solvent. Utica, N. Y.-A letter mailed in this city and received next day by officials of the First National bank of Earlville, a village a few miles south of Utica, informed them that the bank had been robbed of $43,000. The letter was from Guy H. Clark, forty years old, cashier of the bank, who was supposed to be visiting an invalid daughter at Saranac Lake. Word was sent to Saranac Lake and it was learned there from Clark's daughter that he had not been there. It was not until late in the afternoon that the bank made public the announcement that its cashier had gone wrong. Immediately after receiving the letter the officials sent for a bank examiner. A. L. Fowler came in response to the summe and after several hours work verified the state ments made in Clark's letter as to the amount of the shortage. The announcement caused an immense sensation and a small run on the part of depositors. It is certain, however, that the institution is solid. There is a surplus of $65,000, and H. H. Higley, cashier of the Chenango National Bank of Norwick, hurried to Earlville with sufficient funds to meet any emergency. Clark was one of the most respected residents of the town. His father, John A. Clark, who died two years ago, was president of the Sidney bank and the family has been prominent in the Chenango valley for many years. Clark's letter contained a statement showing just how he stood with the bank and just what funds were missing. His conscience was troubling him and he said he wanted to make what restitution he could. He was a heavy stockholder in the bank and the letter contained a formal transfer of all his holdings to the institution. He also transferred his real estate in Earlville and a considerable amount of personal property. The officials said that no figures could be given out until an appraisal had been made, but they expressed the belief that with Clark's stock in the bank, together with all his other transfers, the loss would be comparatively small. The tone of the letter has led his former associates to believe that Clark has gone to some isolated place and ended his life.