Multiple contemporaneous articles (May 21–23, 1904) report a 'slight run' followed by the bank's failure to open and appointment of a receiver (W. G. Taefel). Examinations disclosed large discrepancies in books of treasurer/cashier James F. Lingafelter (shortages, alleged forgery). The bank was taken into receivership and did not reopen; later developments (indictment, receiver's suicide) corroborate permanent failure. Dates come from newspaper publication dates; run described as occurring 'yesterday' before May 21. 'Savings' bank classified as a state savings bank.
Events (3)
1.May 20, 1904Run
Cause
Bank Specific Adverse Info
Cause Details
Rumors and then a 'slight run' tied to later-discovered discrepancies/shortage in treasurer/cashier James F. Lingafelter's accounts (internal misconduct/shortage).
Newspaper Excerpt
For the past two days there have been rumors regarding the bank, and yesterday there was a slight run on the institution.
Source
newspapers
2.May 21, 1904Receivership
Newspaper Excerpt
W. G. Taefel was appointed receiver today of the Newark Savings Bank at the request of the directors.
Source
newspapers
3.May 21, 1904Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed bank after discovering discrepancies in the books of treasurer/cashier James F. Lingafelter (shortage reported ~$50,000 initially; later reports indicate larger shortage).
Newspaper Excerpt
The Newark Savings Bank did not open its doors today. The court appointed a receiver.
Source
newspapers
Newspaper Articles (19)
1.May 21, 1904Evening Times-RepublicanMarshalltown, IA
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OHIO BANK FAILS Savings Bank at Newark, Ohio, Fails to Open Its Doors and Excitement Pre. vails-Working People Were Depositors. Newark, Ohio, May 21.-After a slight run yesterday the Newark Savings Bank did not open its doors today. The court appointed a receiver. The bank has thousands of deposits from working people here and there is great excitement. According to the receiver, discrepancies have been discovered in the books of the treasurer, James F. Lingafelter, but he has not been arrested.
2.May 21, 1904The Daily TelegramClarksburg, WV
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NEWARK BANK FAILS. By Associated Press, Newark, O. May 21-W. C. Tafelt was appointed receiver today of the Newark Savings Bank at the request of the directors. There was a slight run on the bank yesterday. Discrepencies are reported in the accounts of the treasurer but no arrest has been made. The officials promise a statement soon.
3.May 21, 1904Rock Island ArgusRock Island, IL
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THOUSANDS OF POOR ARE LOSERS Big Savings Bank Closed-Treasurer Said to be Short. Newark, Ohio, May 21.-After a slight run yesterday the Newark Savings bank did not open its doors today. The court appointed a receiver. The bank has thousands of deposits from the working people here. There is great excitement. According to the receiver, discrepancies have been discovered in the books of the treasurer, James F. Lingafelter.
4.May 21, 1904The Paducah SunPaducah, KY
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A BANK SUSPENDS. Newark, O., May 21.-The Newark Savings Bank failed this morning. A notice was posted saying that a receiver would be appointed. Alleged discrepancies on the part of the cashier are given as the cause. The liabilities are over two hundred thousand dollars.
5.May 22, 1904The Saint Paul GlobeSaint Paul, MN
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Bank Fails to Open. NEWARK. Ohio, May 21.-The Newark Savings bank did not open its docts today and the court appointed a receiver for the bank in the person of W. G. Taefel. For the past two days there have been rumors regarding the bank, and yesterday there was a slight run on the institution, and last night the directors decided that they would not open this morning. The bank has thousands of deposits from the working people here. and there is great excitement. According to the report of Mr. Taefel, discrepancies have been discovered in the books of the treasurer, James Lingafelter.
6.May 22, 1904The Indianapolis JournalIndianapolis, IN
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SAVINGS BANK CLOSES DOORS AT NEWARK, O. Receiver Appointed for Institution Which Has Deposits of Working People. NEWARK, O., May 21.-The Newark Savings Bank did not open its doors to-day and the court this morning appointed a receiver for the bank in the person of W. G. Tafel. For the past two days there have been rumors regarding the bank, and yesterday there was a slight run on the institution. Last night the directors decided that they would not open this morning. The bank has thousands of deposits from the working people, and there is great excitement. According to the report of Mr. Tafel this morning, discrepancies have been discovered in the books of the treasurer, James F. Lingafelter, but he has not been arrested. The officials of the bank say that they will make & formal statement soon. Cashier Lingerfelter went to Columbus today to enter a sanitarium. The shortage is said to be in the neighborhood of $50,000. No arrests have been made. COLUMBUS, O., May 21.-Cashier Lingafelter was found at the Parkview sanatorium here to-day. He refused to be seen, but his son said the failure was due to President L P. Schaus's refusing to sign notes for a temporary loan, according to the custom at this season of the year, to relieve a stringency in ready money and prevent the calling in of outstanding loans by the bank. It was denied that there was any shortage, but on the other hand the claim was made that the bank would pay dollar for dollar.
7.May 22, 1904The Wichita Daily EagleWichita, KS
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TELEGRAPHIC BREVITIES. London, May 21.-A dispatch to the Japanese legation from Tokio says Vice Admiral Togo has reported today as follows: "The gunboat squadron and the torpedo boat destroyers and torpedo boat flotillas approached Port Arthur yesterday, for the purpose of reconnoitering, which was successfully affected with little damage in spite of a hot cross fire from the forts. There were no casualties on our side." Riazan, Russia, May 21.-Czar Nicholas, accompanied by Grand Duke Michael, arrived this morning and was received by deputations from the nobility and municipal authorities. His majesty proceeded to the cathedral; attended divine service and afterwards reviewed and addressed the troops leaving for the Far East. The ezar left later for Moscow. Newark, O., May The Newark Saving bank did not open its doors today and the court has appointed a receiver. The bank has thousands of deposits from the working people here and there is great excitement. Discrepancies are said to have been discovered in the books of one of the officers. Rome, May 21.-Cardinal Satolli has arranged for his trip to America which includes Washington, Notre Dame, Philadelphia, St. Louis, Chicago, St. Paul, Duluth and New York city in the order named. Paris, May 21.-A dispatch to the Temps from St. Petersburg, says: Emperor Nicholas left Moscow today for St. Petersburg. The work of preparing the Baltic fleet for active service is being pushed with great activity. It will probable sail for the far east in two divisions
8.May 22, 1904The Salt Lake HeraldSalt Lake City, UT
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OHIO SAVINGS BANK FORCED TO THE WALL Newark, O., May 21.-The Newark Savings bank did not open its doors today and the court has appointed a receiver. The bank has thousands of depositirs from the working people here and there is great excitement. Discrepancies are said to have been discovered in the books of one of the officers. Cashier Lingerfelter went to Columbus today to enter a sanitarium, The shortage is said to be in the neighborhood of $50,000. | Columbus, Ö., May 21.-Cashier Lingerfelter was found at the Park View sanitarium in this city today. He refused to be seen, but his son said the failure was due to President L. P. Schaus refusing to sign notes for a temporary loan
9.May 22, 1904New-York TribuneNew York, NY
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A NEWARK (OHIO) BANK CLOSED. Newark, Ohio, May 21.-The Newark Savings Bank did not open its door to-day. and the court has appointed W. G. Taefel receiver. Rumors regarding the bank yesterday caused a slight run, and last night the directors decided that they would not open this morning. The bank has thousands of depositors among the working people, and there is great excitement. According to the report of Mr. Taefel, discrepancies have been discovered in the books of the treasurer, James F. Lingafelter. Cashier Lingerfelter went to Columbus to-day to enter a sanatorium. The irregularity in the books is said to be nearly $50,000 Columbus, Ohio, May 21.-Cashier Lingerfelter was found at the Park View Sanatorium, in this city, to-day. He refused to be seen, but his son said the failure was due to President Schaus refusing to sign notes for a temporary loan, according to the custom at this season of the year, to relieve a stringency and prevent the calling in of outstanding loans by the bank. He denied that there was any shortage, and said the bank would pay dollar for dollar.
A Savings Bank Falls, Newark, O., May 23.-The Newark Savings bank did not open its doors Saturday and the court appointed W. G. Taefel receiver. The bank has thousands of deposits from working people here. According to the report of Mr. Taefel, discrepancies have been discovered in the books of the cashier, James F. Lingafelter, who has gone to Columbus to enter a sanitarium. The irregularity in the books is said to be nearly $50,000.
NEWARK BANK FAILS. By Associated Press. Newark, O., May 21-W. C. Tafell was appointed receiver today of the Newark Savings Bank at the request of the directors. There was a slight run on the bank yesterday. Discrepencies are reported in the accounts of the treasurer but no arrest has been made. The officials promise a statement soon.
12.May 27, 1904The Ely MinerEly, MN
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Ohio Bank Failure. Newark, O., May 23.-The Newark savings bank did not open its doors SatSurday, and the court that morning appointed a receiver for the bank in the person of W. G. Taefel. For several days there have been rumors regarding the bank, and Friday there was a slight run on the institution and that night the directors decided that they would not open Saturday morning. The bank has thousands of deposits from the working people here, and there is great excitement.
13.June 2, 1904Mexico Missouri MessageMexico, MO
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Being a Condensed Story of the News of the Week. Western Federation of Miners meets in Denver. The California fruit merger will be dissolved in September. Ground for Jamestown Exposition will be broken next month. Quarrel between France and Vatican may lead to breaking of old treaty. Forty-five battalions of Japanese are landed on the Liao-Tung Peninsula. The Misouri State Medical Association attacked the use of patent medlcines. Adjt. Gen. Bell of Colorado announces that he will resign his office Monday. The G. A. R. veterans of Missouri, encamped at Lexington, are royally entertained. A meeting of the Democratic National Committe was held at the Hotel Jefferson Monday. Russia buys four steamers from the Hamburg-American line, to reconstruct them as auxiliary cruisers. The fourth meeting of the Good Roads Convention was held on the terrace at the Missouri building. The first collision between Russian and Korean forces at Kan-Kow results in a rout of the Russian cavalry. Harry D. Babcock, Jr., a Yale freshman, dies in New York of injuries received in polo match with Princeton. General Kuropatkin is hastening his preparations for withdrawing, having decided to give up even Haicheng. Tercel Thomas of Pasadena, Cal., stabs his paralytic son in the back and then ends his own life. The boy is dead. Robert Walsh, son of Julius S. Walsh, was one of the many persons hurt in street car accidents in St. Louis. Seven persons were killed, five are dying and many were injured by an explosion in a fireworks plant at Findlay, O. The Japanese, after destroying several miles of railroad, have re-embarked and sailed from Kai-Chou, it is asserted. Sultan of Morocco makes offer to bandits for release of Ion Perdicoris and Cromwell Varley, who are held for ransom. Moroccan bandit communicates with American Consul at Tangier relative to release of Ion Perdicoris and his stepson. Although weather conditions have been unseasonable in portions of the Mississippi Valley, planting has made fair progress. The Newark, O., Savings Bank closes. A receiver who has been appointed says that he has found discrepancies. The Mercantile Trust Company of St. Louis absorbs the American Central, paying $165 a share for a majority of the stock. Commander Peary will conduct a party of consumptives to the Arctic regions, where the sick persons hope to find new health. The strike of the masters and pilots of the Great Lakes threatens the West with one of the worst commercial disasters in its history. The reception given for the visiting newspaper men by the Indiana Commission was a record-breaker, 1,000 guests being present. The wife of a rich New York man has been traced to St. Louis, having disappeared from her home several days ago without explanation. One of the four Lascars arrested recently at Cronstadt on suspicion of being a spy claims to be a Filipino, and as such entitled to American protection. W. H. May, an express messenger, had an encounter with a sea lion, which broke from its box in a car while the train was nearing Kansas City, Mo. Kansas decides to expunge from school histories the story that Gen. Funston swam the Bag Bag River on the ground that the story, which gained the Kansan his present places, is fictitious. One hundred and fifty persons have died in New York in the last week of cerebro-spinal meningitis. The doctors are completely nonplussed and do not know how to stop the spread of the epidemic. Weather conditions generally favorable in Illinois and crops are in fairly good state. The Good Roads Convention, which met in St. Louis, will organize township, county and State associations to make concerted fight for better highways. The battleship Rhode Island beached shortly after it was launched at Quincy, Mass., running upon a many
14.July 29, 1904The Paducah SunPaducah, KY
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WORRIED TO DEATH AN OHIO BANKER DROWNS HIMSELF IN LICKING RIVER. Newark, O., July 29 -W. G. Tafel, receiver of the Newark Savings Bank, committed suicide today by drowning. His body was found in Licking river this morning. Worry over financial affairs 18 thought to be the cause.
15.July 30, 1904New-York TribuneNew York, NY
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SUICIDE PLEADED NOT GUILTY. Newark. Ohio, July 29.-W. G. Taefel. receiver of the Newark Savings Bank, manager of the Citizens' Light and Power Company and supreme secretary of the American Insurance Union. was found to-day in the North Fork of the Licking River. He left a note claiming that he was innocent of wrong in the failure of the bank. but he said that he was ruined financially and had determined to kill himself. Later information shows that Mr. Taefel had been receiving threatening letters for alleged delay in settling the bank's affairs and in making his report as receiver, and this is supposed to have preyed upon his mind. The note he left says: "I am absolutely innocent of any trouble at the Newark Savings Bank. Every dollar 1 have on earth is gone. I must end this misery. Goodby. my dear family." The report that he is indebted to the bank is denied.
NEWS NOTES FROM EVERYWHERE Doings of the Day Reflected and Condensed for Busy Readers Washington, July 29.-President Rosevelt today began his official duties in the executive offices. George O. Howard called to inform him that he expected to appear on the stump for him during the campaign. Berlin, July 29.-Two Frenchmen have been arrested and imprisoned at Wilhelmshaven on suspict n of espoinage. They had on their persons photographs of the new fortifications at Wilnelmshaven and of the fort at Altona. Washington, July 29.-Secretary Morton today annn unced the appointment of Rear Admiral George A. Converse a: chief of the bureau of navigation, navy department, to succeed the late Rear Admiral H. C. Taylor, who died at Copper Cliffs, Ont., a few days ago. Newark, O., July 29.-The body of W. G. Taeful, receiver of the Newark Savings bank and supreme secretary of the American Insurance Uni n, was found today in the Licking river. He left a note saying Le was innocent of wrong in the bank failure; was ruined financially and had therefore determined to kill himself. St. Louis, July 29.-A cablegram has been received from Paris from M. Jules Boufve. assistant French commiss one, general to the World's Fair, giving the inf. rmation that the list of Frencn jurists of awards had been mailed to him. There will be 100 jurors from France and 25 alternates, who will arrive in St. L uls by September 1. St. Petersburg, July 29.-An account of the tragedy published this afternoon says that the assassin attempted to commit suicide by shooting. He had a revolver in his hand when se.zed. The operation on him was so successful that he is expected to recover in three weeks. The murderer is still in the h spital. He is a handsome man of about 25 years of age, with blonde regular features. St. Petersburg July 29 Although the
17.August 3, 1904The StarReynoldsville, PA
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# SUICIDE OF BANK RECEIVER.
Body of W. G. Taafel Found in the Licking River.
W. G. Taafel, receiver for the Newark, O., Savings bank, general manager of the Citizens Electric Light and Power Company, Supreme Secretary of the American Protective Union, Secretary of St. Luke's Commandery, Knights Templar, and a prominent member of St. Paul's Lutheran Church, committed suicide by drowning himself in the north fork of the Licking river.
A note was found on Mr. Taafel's desk, addressed to his wife, saying that he was wholly innocent of any wrong-doing at the defunct savings bank, and that every dollar he had in the world was gone. He ended by saying: "I must end this misery."
18.August 9, 1904Wausau PilotWausau, WI
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# Bank Receiver a Suicide.
Receiver W. G. Taefel of the Newark (Ohio) Savings Bank and supreme secretary of the American Insurance Union, was found dead by Samuel Oden in Licking river. He left a note saying that he was innocent of any wrong leading to the failure of the bank and that he was ruined financially and therefore had decided to kill himself.
19.December 6, 1904Evening StarWashington, DC
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Large Bank Shortage at Newark, Ohio. Receiver Stacel of the Newark, Ohio, Savings Bank has just announced that the shortage of James F. Lingafelter in the savings bank, as disclosed by an examination of the books, is about $75,000. Lingafelter's personal account in the bank is said to be overdrawn $15,000, and his accounts as manager of the Idlewilde Park Company and secretary of the Homestead Building Association are said to be short $20,000 and $14,000, respectively. The remainder of the shortage is in smaller accounts. Lingafelter, who is under indictment for forgery, has secured a change of venue to Mount Vernon.
