17680. Bank of Jefferson (Jefferson, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1927*
Location
Jefferson, South Dakota (42.602, -96.559)

Metadata

Model
gpt-5-mini
Short Digest
4397d765d8465dbd

Response Measures

None

Description

Articles describe the 1927 failure of the Bank of Jefferson in Jefferson, South Dakota, caused by alleged embezzlement/forgery by a cashier (Ralph Gilmore) and missing funds (~$60,000). There is no mention of a depositor run; the bank failed/was wrecked and criminal charges followed, implying permanent closure/receivership.

Events (2)
1. January 1, 1927* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Alleged embezzlement/forging by cashier Ralph Gilmore; about $60,000 missing led to bank failure.
Newspaper Excerpt
Sioux City blamed by Union county officials for the wrecking of the Bank of Jefferson. ... Sixty thousand dollars of the bank's funds are missing
Source
newspapers
2. February 24, 1927 Receivership
Newspaper Excerpt
SIOUX CITIAN TO STAND TRIAL FOR FAILURE OF JEFFERSON, S. D., BANK ... Sixty thousand dollars of the bank's funds are missing and article references trial and charges growing out of the failure, early in 1927. (Des Moines Tribune, 1927-02-24).
Source
newspapers

Newspaper Articles (2)
1. February 24, 1927 Des Moines Tribune Des Moines, IA
Article from Des Moines Tribune, February 24, 1927

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Article Text

SIOUX CITIAN TO STAND TRIAL FOR FAILURE OF JEFFERSON, S. D., BANK Ralph Gilmore Sioux City blamed by Union county officials for the wrecking of the Bank of Jefferson. Jefferson. S. D. must stand trial March 21 on two charges. unlawful of tificates deposit without authority of the board of directors and embezzlement. His bond fixed at $20,000 at hearing in Elk Point late Wednesday Sixty thousand dollars of the bank's funds are missing

2. May 13, 1928 The Sioux City Journal Sioux City, IA
Article from The Sioux City Journal, May 13, 1928

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Article Text

GUILTY IS THE PLEA OF THE SIOUX CITYAN (Continued from Page One.) and half, and now maybe I can have some relief." In the court room at the time of sentence two sisters, Mrs. W. Murphy and Miss Gertrude Gilmore. and brother, Roy Gilmore, all City. Gilmore returned to South Dakota face the charges after having been Chicago for the past several months. where he is said to have been employed as cashier of one of Chicago's most exclusive Athletic clubs. May Drop Other Charges. Count-two of the information to which Gilmore pleaded guilty charged him with forging promissory note for $1,000 with the name of W. Montagne, on April 4, 1926. This was one of the charges in the new information filed against him this spring in addition to eight which were started about year ago, growing out the failure, early in 1927, of the Bank of Jefferson. He was tried in Sioux the Falls in May, 1927, on one of eight charges, and acquitted. The other charges were continued ary the September term, to the Januterm and again to the May term, which is to start here next Monday.