17141. Commercial Bank (Cambridge, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
June 15, 1904
Location
Cambridge, Ohio (40.031, -81.588)

Metadata

Model
gpt-5-mini
Short Digest
e3c88936

Response Measures

None

Description

The Commercial Bank of Cambridge was placed in the hands of a receiver mid-June 1904 after discovery of large defalcations by the cashier P. C. Patterson and Vice President H. O. Barber, who absconded. Sources variably call the institution a private institution; one mention calls it a state bank. The bank closed and a receiver (R. B./R. V. Orme) was appointed, indicating permanent closure/receivership rather than a temporary run-only episode.

Events (2)

1. June 15, 1904 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large defalcations/embezzlement by Cashier P. C. Patterson and Vice President H. O. Barber; shortage about $100,000; officers absconded.
Newspaper Excerpt
On petition of the stockholders of the Commercial Bank of Cambridge, a private institution, a receiver was appointed for the bank to-day. The petition alleges defalcations against P. C. Patterson, the cashier and H. O. Barber, one of the directors.
Source
newspapers
2. June 16, 1904 Receivership
Newspaper Excerpt
On petition of the stockholders of the Commercial Bank of Cambridge, Guernsey county, O., a private institution, a receiver was appointed for the bank on the 15th. The petition alleges defalcations against P. C. Patterson, the cashier, and H. O. Barber, one of the directors.
Source
newspapers

Newspaper Articles (10)

Article from The San Francisco Call, June 16, 1904

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Article Text

ZANESVILLE, Ohio, June 15.-On petition of the stockohlders of the Commercial Bank of Cambridge, a private institution. a receiver was appointed for the bank to-day. The petition alleges defalcations against P. C. Patterson, the cashier and H. O. Barber, one of the directors.


Article from The Cairo Bulletin, June 18, 1904

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Article Text

PAIR OF DEFAULTERS. . By the Associated Press. Zanesville, Ohio, June 17.-Accord ing to a statement of Receiver Ormeñ. of the Commercial bank of Cambridge the hortage in the banks funds is $100,000. Cashier Patterson and Vice President Barber are still missing.


Article from The Stark County Democrat, June 21, 1904

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Article Text

OVER $100,000 Embezzled from Cambridge Bank. Cambridge, June 17.-Receiver Orme of the defunct Commercial bank announces that the notes and overdrafts made by Cashier Patterson amount to $44,000 and notes and overdrafts made by Vice President Barber amount to inore than $36,000. Two Metters written four days ago were mailed to the receiver today authorizing the transfer of property to the bank by Miss Carrie Norris. Barber's fiance has been missing since Sunday and is thought to be with Barber.


Article from Iron County Register, June 23, 1904

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Article Text

NEWS AND NOTES A Summary of Important Events. PERSONAL AND GENERAL The fourteenth annual reunion of th United Confederate Veterans began i Nashville, Tenn., on the 14th, with large attendance. Chairman Henr* C. Payne of th republican national committee wa stricken with sudden illness, on th 15th, in his room at the Auditorium annex, Chicago, and was not able t preside at the meeting of the commit tee in the coliseum in the afternoor Kausas grain and elevator men agre upon an estimate for this year of 80, 000,000 bushels of wheat. The estimat is based on Coburn's recent report This is 12,000,000 below last year's red ord-breaking crop. Wheat condition are improving daily. The Chicago limited passenger trai the Illinois Central was wrecked i the terminal yards in Carbondale, Ill on the 14th, and John Hamilton, a ct garmaker of Memphis, was instantl killed, and several passengers bruise and injured. Samuel M. Burbank, of Arizona, retired merchant, attempted to ki himself in New York, on the 13th, b cutting his throat in a law office. H is now a prisoner in a hospita charged with attempted suicide. A St. Louis cordage company about to make an experiment in th direction of obtaining Porto Rican la bor. It has engaged 24 Porto Rica girls to work in its factory. Robbers blew open the safe in th post office at Laurel, Mont., on th 14th, and secured about $2,000. The Kentucky court of appeals ha overruled a petition for a rebearing the case of Jim Howard, sentenced 1 life for the murder of William Goebe The case will be appealed to the Unit States supreme court. Division No. 2 of the Missouri S cutting his throat in a law office. I preme court, on the 14th, affirmed tl cases of Julius Lehmann and Em Hartmann, convicted in the boodle cr sade in St. Louis, and they must no go to the penitentiary to serve the sentences. Julius Lehmann and Emil Hartman the first of the convicted St. Lou boodlers whose sentences were affirme by the supreme court of Missouri, hay begun to serve the terms of seven an six years, respectively, to which the were sentenced. On petition of the stockholders of tl Commercial Bank of Cambridg Guernsey county, O., a private instity tion, a receiver was appointed for th bank on the 15th. The petition allege defalcations against P. C. Patterso: the cashier, and H. O. Barber, one . the directors. Gen. Bobrikoff, governor-general Finland, who was shot by an assass at Helsingfors, the Finnish capital, o the 16th, died on the 17th. The affa created a great sensation in St. Peter burg. Ex-Mayor Van Wyck, of New Yor finding himself 1,200,000 richer throug a remarkable streak of luck on Wa street, has decided to give up politi and business and enjoy himself. I has gone on a trip to Europe, leavir his alternate to attend the St. Lou convention. According to a London dispatch the 17th, Gen. Stackelberg's retreat w cut off by Gen. Kuroki's forces in Ma churia and he was compelled to resun fighting in the neighborhood of Teliss Hector Fuller, a war coresponde from Indianapolis, Ind., who was r ported to have disappeared, is no said to have been arrested and in prisoned by the Russian authoriti at Port Arthur. France, represented by Thery, we the fifth international motor race f the James Gordon Bennett cup, t. great event of the motoring worl from Jenatzy, of Germany, the hold of the trophy, by 11 minutes and seconds. The distance covered was 3 miles. Time: 5 hours, 50 minutes, seconds Tenetax second


Article from The Manitowoc Pilot, June 23, 1904

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Article Text

A Heavy Defalcation. Zanesville, O., June 18.-According to a statement made by Receiver Orme, of the Commercial bank of Cambridge, the shortage in the bank's funds is $100,000 or more. The examination of the bank shows overdrafts in that sum already, and the statement of the condition of the bank will not be officially made until next week. Vice President Herbert O. Barber, who has admitted personal overdrafts of nearly $27,000, and Cashier Patterson are still missing. From his inspection of the books Receiver Orme believes the overdrafts began almost as soon as the bank was organized.


Article from Iron County Register, June 23, 1904

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Article Text

Received is Appointed. Zanesville, O., June 16.-On petition of the stockholders of the Commercial Bank of Cambridge, Guernsey county, a private institution, a receiver was appointed for the bank. The petition alleges defalcations against P. C. Patterson, the cashier, and H. O. Barber, one of the directors.


Article from Perrysburg Journal, June 24, 1904

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Article Text

BUCKEYE SNAPSHOTS News Culled in the State of Ohio. GONE, BUT NOT FORGOTTEN. Man Who Is Alleged to Have Wrecked Three Banks Is Heard From. Zanesville, O., June 17.-Following the failure of the Commercial state bank at Cambridge and the People's savings banks at Byesville and Macksburg have come startling developments since the appointment of R. V. Orme as receiver. Three letters written on June 11 were received by Mr. Orme yesterday. In them Herbert O. Barber, vice president, authorizes Orme to dispose of his stock in whatever manner possible to settle his personal overdrafts, which now reach $26,687.48. Barber, together with Cashier P. C. Patterson, were reported to be in Cincinnati. By Cambridge people they are thought to be in Mexico. Cambridge, O., June 17.-The stockholders of the Commercial bank, which closed its doors Tuesday, in their application for a receiver, charge Cashier Patterson and Vice President Barber with absconding with a large amount of the assets of the bank. Receiver Orme has issued a statement inviting the creditors to render specific statements of their claims with out delay. Nothing has been heard of Mr. Patterson. Miss Carrie Norris, the fiancee of Barber, has been missing from home since Saturday, and her friends cannot locate her. Patterson's wife and mother are prostrated.


Article from The Ely Miner, June 24, 1904

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Article Text

A Heavy Defalcation. Zanesville, O., June 20.-According to a statement made by Receiver Orme, of the Commercial bank of Cambridge, the shortage in the bank's funds is $100,000 or more. The examination of the bank shows overdrafts in that sum already, and the statement of the condition of the bank will not be officially made until next week. Vice President Herbert O. Barber, who has admitted personal overdrafts of nearly $27,000, and Cashier Patterson are still missing. From his inspection of the books Receiver Orme believes the overdrafts began almost as soon as the bank was organized.


Article from Chicago Eagle, June 25, 1904

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Article Text

Defalcation In Falled Bank Charged On petition of the stockholders of the Commercial Bank of Cambridge, Ohio, R. B. Orue was appointed receiver of the bank. The petition alleges defalcation by P. C. Patterson. the cashier, and H. O. Barber, one of the directors.


Article from Wausau Pilot, March 28, 1905

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Article Text

Depositors Will Lose Nothing. The Commercial Bank of Macksburg, Ohio, a State institution, has closed its doors. It was heavily involved in the failure of the Commercial Bank of Cambridge. Deposi its will be paid in full, the stockholders being the only losers. A receiver will be asked for.