18007. Commercial Bank (Guthrie, OK)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
September 26, 1890
Location
Guthrie, Oklahoma (35.879, -97.425)

Metadata

Model
gpt-5-mini
Short Digest
33ee5de4

Response Measures

None

Other: Multiple articles describe an initial short run (Sept 1890) triggered by the failure of the Capital Bank; later the Commercial Bank suspended/failed and was placed in receivership amid evidence of deliberate fraud and embezzlement. Sheriff assignment mentioned (Nov 1890); receiver appointed Dec 22, 1890; indictments and receiver's report in 1891 detail massive shortages.

Description

Initial run (Sept 1890) followed by suspension/failure in Nov 1890 and appointment of a receiver in Dec 1890. Contemporary reports and later receiver's report indicate fraud/organized embezzlement by bank officers; therefore suspension/closure is due to bank-specific adverse information and misconduct. OCR typos in some articles (e.g., Rogsdale/Ragsdale/Ragsdale variants) retained as reported; I do not invent corrected personal names beyond noting inconsistency.

Events (4)
1. September 26, 1890 Run
Cause
Local Banks
Cause Details
Run triggered by failure of the nearby Capital Bank; depositors withdrew funds fearing contagion.
Measures
Relief (funds/assistance) arrived from other points and the bank 'tided over the crisis.'
Newspaper Excerpt
The failure of the Capital Bank last Wednesday caused a run today on the Commercial Bank, which nearly caused it to close the doors. Relief came from other parts, and the bank tided over the crisis.
Source
newspapers
2. November 21, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank belonged to a syndicate; several affiliated banks failed and the Commercial Bank itself failed (later revealed to involve embezzlement and organized fraud).
Newspaper Excerpt
The Commercial bank, the largest in the territory, failed to-day. ... To-day the Guthrie bank suspended and the Whitewater concern is now in the hands of a receiver.
Source
newspapers
3. December 3, 1890 Other
Newspaper Excerpt
J. M. Ragsdale, president of the Commercial bank, which suspended some time ago, was indicted by the grand jury Monday and is now under arrest. He is charged with accepting deposits when he knew the bank was insolvent and with otherwise violating banking laws.
Source
newspapers
4. December 22, 1890 Receivership
Newspaper Excerpt
Chief Justice Green decided this morning that the assignment of the Commercial Bank was void. He will appoint a receiver. (receiver appointed/assignment void).
Source
newspapers

Newspaper Articles (18)
1. September 27, 1890 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, September 27, 1890

Click image to open full size in new tab

Article Text

An Indian Uprising Imminent. PITTSBURG, September 26th. - Captain Trimbleton, of the Seventh United States Cavalry, Commandant of Fort Sill, passed through Pittsburg. He says the greatest Indian uprising of recent times is certain to come soon. The Indians have got an idea that a great medicine man is coming to wipe out the whites and restore to them the ownership of the country. The result is that they have entered with the fervor of fanatics upon a series of incantations and religiou orgies. Five thousand Indians about Fort Sill have renounced Christianity, and he is certain in 2 short time somebody will pretend to be the expected great medicine man, and then the trouble will begin. He thinks all the United States garrisons should be doubled. North Dakots Prohibitionists. GRAND FORKS (N. D), September 26th.Late last night the State Convention Prohibitionists and Farmers' Alliance indorsed the Republican nominees for Congress, Lieutenant Governor, Commissioner of Insurance and Railroad Commissioner, the Democratic nominees for Secretary of State, Superintendent of Instruction and Railroad Commissioner, and nominated for Governor Walter Muir; Auditor, H. P. Dickieson; Treasurer, K. J. Nomland; Attorney-General, N. C. Young, and Railroad Commissioner, Ezra Turner. National Prison Congress. CINCINNATI, September 26th.-There was a fair attendance to-day at the National Prison Congress. Ex-President Hayes was in the chair. The Report of the Standing Committee on Criminal Law Reform was read by Charles Reeve. Following this came a paper on the "Lease System of Alabama an Its Practical Workings," by W. J. Lee of Greensboro, Ala., a member of the Board of Inspectors of that State. This was followed by a discussion. Held to Answer. BIRMINGHAM (Ala.), September 26th.W.P. Pickard, editor and President of the Age-Heraid Company, was this morning rested on a warrant charging him with publishing advertisements of the Louisiana Lottery Company. The United States Commissioner held that each issue since last Friday was a separate offense, and put him under a bond of $5,000 to await the action of the Grand Jury. Killed by Electric Wires. WINCHENDOM, September 26th.-Edward T. Ryan, aged 18, and G. Barnard, aged 20, were instantly killed to-day by electric light wires coming in contact with an incandescent circuit on Pound street. Barnard's hands were badly burned, and it is supposed Ryan attempted to assist him and himself fell a victim. Overdose of Morphine. CHICAGO, September 26th.-F. Kranke, a German, about 35 years old, was taken to the County Hospital from a cheap hotel on the West Side, suffering from an overdose of morphine. Letters showed that he recently came from San Francisco, where he was a clerk in a music store. He assumed the name of Bunda here. Run on a Bank. GUTHRIE (Oklahoma), September 26th.The failure of the Capital Bank last Wednesday caused a run to day on the Commercial Bank, which nearly caused it to close the doors. Relief came from other parts, and the bank tided over the crisis. National Board of Transportation. CHICAGO, September 26th.-Representatives of the various Boards of Trade now meeting here have perfected an organization to be known as the National Transportation Association. Newspapers Seized. CINCINNATI, September 26th.-The Postoffice authorities have seized the entire weekly edition of the Volksfreund in this city, because it contained lottery advertisemeets. William Johnson Dead. NEW YORK, September 26:h.-William Johnson, prominent in the anti-slavery movement, died to-day, aged 75.

2. September 27, 1890 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, September 27, 1890

Click image to open full size in new tab

Article Text

Sept. Slavin fight took place last night and the American Was knocked out in two rounds. London, Sept. 20-Alfred John Francis Egerton, member of the House of Commons for Eccles division at Lancaster, is dead. Paris, Sept. 26.-Prominent socialists declare that Boulanger has promised to cast his lot with the revolutionists in the first civil commotion. London, Sept. 26.-A dispatch from Algiers says a cyclone has swept over a large portion of Algeria, doing an immense amount of damage. Cincinnati, Sept. 20.-The postoffice authorities have selzed the entire weekly edition of Volksfreund in this city because it contained lottery advertisements. Guthrie, Oklahoma, Sept. 20.The failure of the Capital Bank Wednesday caused a run today on the Commercial Bank, which nearly caused it to close its doors. Relief came from other points and the bank tided over the crisis. Newcastle, Pa., Sept. 26.- A three-year-old girl named Cooper accidentally fell into a pig sty tonight. In an Instant two powerful pigs attacked her, and before anyone could come to her assistance lascerated her body in an awful manner. The child will die. New York, Sept. 26.-Carlos Penalta, who arrived from Mexico two days ago, rididules the story of the attack on President Diaz. He was at the celebration mentioned and the only musketry he heard was a volley salute fired as the President and staff retired. Boston, Sept. 26.-A large audiencegathered at the Massachusetts Reform Club tonight to greet Henry Watterson of the Louisville CourierJournal, who délivered an address on the political issues of the day, including the tariff bill and elections bill. Tangier, Sept. 26.-The Moorish army has defeated and routed the insurgents in the district of Alt Shokhman. The rebels lost heavily in killed and wounded, and many were made prisoners. All the leaders captured were beheaded. The victorious troops pursued the insurgents and destroyed several villages. Camden, N.J., Sept. 26.-A horrible crime was brought to light this afternoon by the finding of the mutilated body of Mrs. John Miller, aged 29, in a dense wood near her home in Delaware township, this county. Frank Luage, a burly negro, who WSS suspected of the murder of Miss Leceony, is locked up charged with causing Mrs. Miller's death. Themotive supposed is robbery. Birmingham, Ala., Sept. 28.-W. P. Pickard, editor and president of the Age-Heraid company, was this morning arrested on a warrant charging him with publishing advertisements of the Louisiana Lottery company. The United States commissioner held each lasue since last Friday to be a separate offense, and put Pickard under bond for $5000 to await the action of the grand Jury: Grand Forks, N.D., Sept. 26.Late last night the State convention of prohibitionists and farmers' alliance endorsed the republican nominees for Congress, lieutenantgovernor, commissioner of insurance, the democratic nominees for secretary of State, superintendent of instruction and railroad commissioner, and nominated for governor Walter Muir; auditor, H. P.

3. September 27, 1890 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, September 27, 1890

Click image to open full size in new tab

Article Text

Guthrie, Oklahoma, Sept. 20.The failure of the Capital Bank Wednesday caused a run today on the Commercial Bank, which nearly caused it to close its doors. Relief came from other points and the bank tided over the crisis.

4. September 27, 1890 Arizona Republican Phoenix, AZ
Article from Arizona Republican, September 27, 1890

Click image to open full size in new tab

Article Text

CONDENSED TELEGRAMS. Alfred John Francis Egerton, member of the House of Commons for Eccles division at Lancashire, is dead. A London dispatch from Algiers says a cyclone has swept over a large portion of Algiers, doing an immense amount of damage. At Cincinnati the Postoffice authorities have seized the entire weekly edition of the Volksfreund because it contained lottery advertisements. Representatives of the various Boards of Trade now meeting in Chicago have perfected anorganization to be known as the National Transportation Association. The Western roads are making a movement at Chicago to abolish special agencies on the Pacific Coast and to have their joint interests looked after by an arbitrator. Yesterday morning at the preliminary examination of Frank Cochran at Sisson, Cal., for the murder of Defreese, Cochran was held to await the action of the grand jury. At Guthrie, Oklahoma, the failure of the Capital Bank, Wednesday, caused a run yesterday on the Commercial Bank, which nearly caused it to close its doors. Relief came from other points and the bank tided over the crisis. A large audience gathered at the Massachusetts Reform Club, in Boston, last night, to greet Henry Watterson, of the Louisville Courier-Journal, who delivered an address on the political issues of the day, including the tariff bill and elections bill. Mrs. Martha McKinney, 87 years of age, was run over by the cars on the Knights Landing extension of the Southern Pacific, near Marysville, Cal., yesterday afternoon, and received injuries which, coupled with her old age, will probably prove fetal. F. Franke, a German about 35 years old, was taken to the Chicago hospital yesterday from a cheap hotel in the West Side, suffering from an overdose of morphine. Letters showed he recently came from San Francisco where he was a clerk in a music store. Charles Canning was shot through the head and instantly killed last night in Spokane Falls by Andrew O'Conner. The murderer has been arrested. The crime grew out of the fact that Mrs. O'Conner had deserted her husband and gone to living with Canning.

5. September 27, 1890 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, September 27, 1890

Click image to open full size in new tab

Article Text

Chicago, 4; Philadelphia, 5. Oklahoma Capital Bank Failure. GUTHRIE, Oklahoma, Sept. 26:-The failure of the Capital bank Wednesday caused a run to-day on the Commercial bank which nearly caused it to close its doors. Relief came from other points and the bank tided over the crisis.

6. September 28, 1890 The Helena Independent Helena, MT
Article from The Helena Independent, September 28, 1890

Click image to open full size in new tab

Article Text

Tided Over a Crisis. : GUTHRIE, Oklahoma, Sept. 27.-The failure of the Capital bank Wednesday caused a run to-day on the Commercial bank, which nearly caused it to close its doors. Relief came from other points and the bank tided over the crisis.

7. November 22, 1890 The Helena Independent Helena, MT
Article from The Helena Independent, November 22, 1890

Click image to open full size in new tab

Article Text

THE CRASR OF BANKS. Several Concerns Owned by One Company Go Under. GUTARIE, Oklahoma, Nov. 21.-The Commercial bank, the largest in the terrirory, failed to-day. The bank belongs to n syndicate which practically controls banks in Newton, Kas., Normal, El Reno. Stillwater and Whitewater. The Newton bank failed yesterday. To-day the Guthrie bank suspended and the Whitewater concern in now in the hands of a receiver. Nothing has, been heard from the El Renc, Normal or Stillwater banks. The Guthrie bank's CAPital was $300,000. the Nowton's $100,000, and the others about the same. It is believed bere that the assets are equal to the liabilities.

8. November 29, 1890 The Washburn Leader Washburn, ND
Article from The Washburn Leader, November 29, 1890

Click image to open full size in new tab

Article Text

says he will resign. The verified population of the United States is 62,622,250. The officers at Pine Ridge regard the situation as critical. Jay Gould says he has not gained control of the Atchison. The run on the Citizens saving bank, of New York continues. Soldiers at Pine Ridge have little food, but much ammunition. Mrs. Birchall and Mrs. Wast Jones are on their way to England. The run on the Citizens Bank, New York, is over, after six days. The story of Indian troubles on the Neshena agency is a canard. Richard Hallen & Co., New York bankers, have failed for a million. President Adams of the Union Pacific' yields his place to President Dillon. Latest dispatches say the floods are subsiding in Germany and Belgium. Eva Hamilton has been pardoned for shooting her husband in New Jersey. R. F. Tobin, senior vice-commander of the G. A. R., died at Boston, Saturday. Edward Brandon's failure has been announced on New York stock exchange. A special session of the New Hampshire legislature will be held December 2d. The New Orleans jury in the Hennessy assassination case, indicted sixteen Italians. It 18 rumored that Father McGlynn will soon be reinstated in the church of Rome. The failure of Barker Bros & Co. has been announced on the Philadelphia exchange. A boiler explosion at St. John, N. B., Tuesday, killed six and injured many others. Mrs. Maria Wolsely, of Raymond, Wis. was fatally injured by an enraged bull Friday. The Illinois glass works buned at Alton, Ills, Saturday., causing a loss of $1,000,000. Peter Miller, a Chicago millionare, was sent to jail for begging on the street last Monday. Six thousand Alabama coal miners will probably strike December 1st for an increase. The schooner Wm. Jones was wrecked near Manistee, Friday night. The crew was saved. Twenty-sixth Ward bank, Brooklyn was robbed of $5.000 by sneak thieves, Thursday. Washington will suffer heavily on account of the lack of transportation for their wheat. Wm. Clark of Milwaukee was knocked down by two men in that city Tuesday and robbed of $19,000. The regular quarterly dividend of one per cent has been declared on Northern Pacific preferred stock. Many deposito rs are returning money to the Howard bank at Newark, N. J. and the run has abated. Thomas Fawcett & Sons, a Pittsburg coal firm, has failed, with liabilities $400,000; assets $600,000. Benjamin Penhallow Shillaber, familiarly known in literary world as "Mrs. Partington," died Tuesday. The Irish home rulers have unanimously requested Parnell to return to the leadership of the party. A Northwestern freight train with $60,000 worth of freight, went through a bridge near Baraboo, Monday. Acting Indian commissioner Belt notified all the agents to keep him fully posted on the state of affairs. The Chicago, Milwaukee & St. Paul freight house No. 3, at Chicago, burned Wednesday evening. Loss $30,000. The run on the Howard savings bank of Newark, N. J., continues, but the officials say they have plenty of money. The Commercial bank, of Guthrie, Okla., was assigned to the sheriff and the proprietors left the town Friday. At Clinton, near Beaver Falls, Pa., eight persons have been poisoned. The particulars have not yet been received. Two oil tanks exploded at Danburg, Conn., blowing off the head of James Cunningham and wrecking a lime kiln. Two brothers, Samuel and Edward Weller, were drowned in Moody pond, near Saranac Lake, N. Y., Monday morning. Rev. Pittit has been found guilty of the murder of his wife at Crawfordsville, Ind., the sentence being life imprisonment. It is positively stated that the Wounded Knee Indian fanatics threaten to shoot any one who interfered with the dance. John Keller, & Chicago milhionaire and real estate dealer, was robbed of a hundred thousand dollars worth of deeds Thursday.

9. December 3, 1890 Daily Tobacco Leaf-Chronicle Clarksville, TN
Article from Daily Tobacco Leaf-Chronicle, December 3, 1890

Click image to open full size in new tab

Article Text

Banker Indicted. GUTHRIE, O. T. Dec. 3.-J. M. Ragsdale, president of the Commercial bank, which suspended some time ago, was indicted by the grand jury Monday and is now under arrest. He is charged with accepting deposits when he knew the bank was insolvent and with other wise violating banking laws.

10. December 23, 1890 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, December 23, 1890

Click image to open full size in new tab

Article Text

FINANCIAL. Several Suits Brought Against Kean & Co. CHIGAGO, December 22.-Suits were begun today by a number of other depositors in Kean's bank, who want the amount of their deposits returned, on the ground that the bank was insolvent when the deposits were made. At the present rate. if all the claims of persons who deposited within thirty days before suspension, are allowed, they uromise to eat up nearly all the assets to the exclusion of other creditors. The assets continue to grow less. It is now estimated that the bills receivable, scheduled at $279,000, will not realize $100,000. An investigation of the bank's books shows, further, that Mrs. Culver's account was overdrawn $8,300 and Morton Culver's account $6,600. Morton Culver appeared in Court this morning and testified that Mrs. Culver had an interest in the bank to the amount of $35,000, and, as far as he knew. there never had been a settlement of the partnership account, though he had endeavered to secure one. The witness believed the business profitable, but Kean conducted it in an extravagant manner, and could never be brought to make a statement of the condition of the bank till recently. Culver testified that his wife's interest consisted of mortgages and notes, on which the bank was only able to realize $7.000. Of these securities, $25,000 were in the shape of notes and mortgages given by a man named Hanchett, simply as accommodation paper. The fact turned out that Kean had included these accommodation securities in his statement of assets to the Commercial Agency. It appeared, according to the testimony of Cashier Warner, that Kean had renewed the paper for over $16,000, the only security being land contracts. The books also showed that Kean discounted his own papers of $32,000 and his wife's for $10,000. LONDON (Ont.). December 22d.-The assignment of John Eiliott & Son, manufacturers of agricultural implements is announced. There are considerable assets, but the losses will be great NEW ORLEANS, December 22d.-The creditors of V. & A. Meyer made a statement to-day, showing the assets of the New Orleans and New York houses amount to $2,757,000, and the liabilities to $1,615,000. The firm has asked for one, two and three years' extension, promising to pay in full. GUTHRIE (Okla.), December 22d.-Chief Just tice Green decided this morning that the assignment of the Commercial Bank was void. He will appoint a receiver. TILTON (N. H.), December 22d.-E. P. Parsons & Co, manufacturers of woolens, are financially embarrassed. FORT WORTH (Tex.), December 22d.-Bateman Brothers, wholesale grocers failed to-day. Liabilities probably over $300,000; assets not computed. RECEIPTS OF GOLD. NEW YORK, December 221. - The steamer Spree arrived from Bremen this morning with $307,000 in gold aboard.

11. December 23, 1890 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 23, 1890

Click image to open full size in new tab

Article Text

BRIEF TELEGRAMS. Copenhagen, Dec. 22.-The death of Niels Wilbelm Gade, the composter, isannounced. Boston, Dec. 22.-Charles T. Sesvans & Co., jewelers, have failed. Liabilities, $80,000; assets a little more. Buenos Ayres, Dec. 22,-A rumor is current that a plot to overthrow the government has been discovered, and several arrested. Guthrie, 'O, T., Dec. 22.-Chief Justice Green decided that the assignment of the Commercial Bank is void. He will appoint a receiver. Fort Worth, Dec. 22.-Bateman Bros., wholesale grocers, failed today. The liabilities are probably over $300,000. The assets are not computed. London, Das, 22.-The German naturalist, Professor Rains, has been murdered in Crete. A rigid investigation has been Instituted, and fifteen Christians arrested. Madrid, Dec. 22.-Senor Moret, president of the tariff commission, has submitted a personal report to the government, setting forth the illenetrous effects of protection and opposing a further increase of duiles. Berlin, Dec. 2.-The statement is made that the German Government will grant Professor Kooh 1,000,000 marks and his assistants 500,000 marks, for the privilege of

12. December 23, 1890 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, December 23, 1890

Click image to open full size in new tab

Article Text

due the Bank of Montreal and $16,000 due other creditors. There are considerable assets, but the losses will be great. GUTHRIE, Oklahoma, Dec. 22.-Chief Justice Green decides this morning that the assignment of the Commercial bank is void. He will appoint a receiver this afternoon. TILTON, N. H., Dec. 22.-E. P. Parsons & Co., manufacturers of woolen dress goods, blankets, etc., are financially embarrassed. Chicago, Dec. 22.-Edward W. Dryden, a carriage manufacturer. made an assignment to-day to John C. Ender. The liabilities are $14,000 and the assets$13,000.

13. June 5, 1891 Fairhaven Herald Fairhaven, Bellingham, WA
Article from Fairhaven Herald, June 5, 1891

Click image to open full size in new tab

Article Text

Premeditated Swindled GUTHRIE, O. T., June 4 - Sheriff J. Hixon of Logan county, arrived here late last night from Chicago, having in charge Charles W. Bleuler, ex-cashier of the Commercial bank of this city, which institution went under several months ago, short nearly $100,000. Bleuler has been wanted some time, as has President Ragsdale and other officials, charged with perjury, embezzlement and other crimes. Ragsdale is in Denver, it is thought. Vice-President McLain is supposed to be in Newton, Kas., and the assistant cashler, clerks and others, who are under indictment, are in different parts of the country, but just where no one knows. The Commercial bank was supposed to be the strongest financial institution in Oklahoma at the time of its suspension, and hundreds of creditors were left penniless as a result. A short time ago Chief Justice Green appointed E.J Nix receiver and yesterday Mr. Nix filed his statement with the court. It shows that the bank, from its incorporation, started with a view to take in all it could in deposits and then fail.

14. June 5, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, June 5, 1891

Click image to open full size in new tab

Article Text

# THE BANK FAILURES. The Comptroller of the Currency States His Opinion. WASHINGTON, June 4.-Referring to the criticisms of his bureau in connection with the Keystone Bank failure of Philadelphia, Comptroller Lacey said: "As a matter of fact, both the closing of the bank and the appointment of the receiver were or- dered by the Comptroller against the wish of all who had sufficient interest to express an opinion. There were many reasons why it was desirable to avoid a receivership, notably, on account of its assets being so largely in real estate. The Comptroller has deemed it his duty to aid in the several hopeful attempts that have been made to re- open the bank by contribution of new capital under new and competent management. As a matter of fact it was officially reported to the Comptroller that $300,000 of new capital had been subscribed and that the Lucas estate was expected to make good all the amounts due. Recent developments have shown that these plans could not have been carried out, but they were sufficiently promising at the time to warrant the delay asked for. Similar measures, Lacey said, have caused the reopening for business within the past six months of at least four national banks, whose capital had been impaired, and two more will open soon. # BARDSLEY'S STOCK OPERATIONS. PHILADELPHIA, June 4.-Before the in- vestigating committee Peter A. B. Widener emphatically denied that he had, as alleged, "unloaded" $400,000 worth of Chicago Trac- tion stock on ex-City Treasurer Bardsley. He never sold Bardsley stock of any kind. The Presidents of several national banks denied ever having paid Bardsley any monetary consideration for city money de- posited in their institutions. Mr. Huhn of the brokerage firm of Glen- dennin & Co. resumed testimony. He said in the course of a single year the firm's stock operations with Bardsley aggregated $1,250,000, and in the same time they bor- rowed $910,000 from Bardsley and loaned him $250,000. Confidential Clerk Bean of Glendennin & Co. was plied with questions as to how he came to go to Bardsley's to borrow money, etc., but to all questions he returned the stereotyped answer, "I don't remember." The report of the expert accountants who have been investigating the accounts of ex- City Treasurer Bardsley was transmitted to the City Council Committee this afternoon by Mayor Stuart. The report is a voluminous one and gives in detail Bardsley's accounts with various banks. The report shows that on the 21st of May, according to the books of the City Treasurer's office, there was on hand $32,317,608 belonging to the city. Of this amount the books of the City Treasurer show there was on deposit in the Keystone Bank $1,437,000. This sum is claimed by Receiver Hardy and Bank Examiner Drew to be wrong, and that the bank's books show the actual deposit to have been $639,- 369. Bardsley had been carrying as cash in the City Treasury $196,045 of worthless checks drawn on the Keystone Bank. In some way, not yet definitely known, he raised the amount in cash and substituted it for the checks. He then went to Bank Examiner Drew and asked that this amount be charged to his account as City Treasurer in the Keystone Bank and credited to his personal account. This Drew refused to do. The only specific evidence of any criminal act of Bardsley with the city's money is the appropriation of $39,576, for which he was indicted. The examination is still going on. # A DELIBERATE SWINDLE. ST. LOUIS, June 4.-A Guthrie (Oklahoma) dispatch says: The receiver of the Com- mercial Bank, which failed some months ago, has handed in his report to the court. It shows that the bank, from its inception, was run with the view to take in all it could in deposits and then fail. The defunct bank started in without a dollar, and there is no record that the organizers of the insti- tution or anybody else ever put in a dollar except the depositors.

15. June 6, 1891 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, June 6, 1891

Click image to open full size in new tab

Article Text

THE OKLAHOMA BANKING PLAN. To Take in All the Deposits Possible and then Fail. ST. LOUIS, Mo., June 4.-A dispatch from Guthrie, Oklahoma, says : Receiver E. D. Mix, of the Commercial Bank, which failed some months ago, has handed in his report. to the court. It shows that the bank from its inception was run with a view to takein all it could in deposits and then fail. The defunct bank started in without a dollar. It opened on the 22d of April, 1889, and on the 23d $10,000 in silver were received from the Newton National Bank of Newton, Kan., by express and the same day $12,000 was sent back to the Newton National. The deposits for the first three months averaged $18,000 a day. There is no record that any of the organizers of the institution or anybody else ever put in a dollar except the depositors' money. President J. M. Rogsdale credited himself with having deposited $55,000, while another party named T. M. Rogsdale had a credit of $48,000. The books are in a bad condition.

16. June 11, 1891 The News-Herald Hillsboro, OH
Article from The News-Herald, June 11, 1891

Click image to open full size in new tab

Article Text

# A SKIN GAME Practiced By a Guthrie Bank-Started Without a Dollar and Took All It Could Get Without Intending to Pay Back. Receiver E. D. Mex, of the Commercial bank, Guthrie, Ok., which failed some months ago, has handed in his report to the court. It shows that the bank from its inception was run with a view to take in all it could in deposits and then fail. The defunct bank started without a dollar. It opened on the 22d of April, 1889. On the 23d $10,000 in silver was received from the Newton national, of Newton, Kan., by express, and the same day $12,000 was sent back to the Newton national. The deposits for the first three months averaged $18,000 a day. There is po record that any of the organizers of the institution or any body else ever put in a dollar except the depositors. The handsome brick building was built on depositors' money. President J. M. Rogsdale credited himself with having deposited $55,000, while another party named T. M. Rogsdale had a credit of $48,000. The books are in a bad condition.

17. June 13, 1891 Macon Beacon Macon, MS
Article from Macon Beacon, June 13, 1891

Click image to open full size in new tab

Article Text

A SKIN GAME Practiced By a Gathrie Bank-Started Without a Dollar and Took All It Could Get Without Intending to Pay Back. Receiver E. D. Mex, of the Commercial bank, Guthrie, Ok., which failed some months ago, has handed in his report to the court. It shows that the bank from its inception was run with a view to take in all it could in deposits and then fail. The defunct bank started without a dollar. It opened on the 22d of April, 1889. On the 23d $10,000 in silver was received from the Newton national, of Newton, Kan., by express, and the same day $12,000 was sent back to the Newton national. The deposits for the first three months averaged $18,000 a day. There is no record that any of the organizers of the institution or any body else ever put in a dollar except the depositors. The handsome brick building was built on depositors' money. President J. M. Rogsdale cred= ited himself with having deposited $55, 000, while another party named T. M. Rogsdale had a credit of $48,000. The books are in a bad condition.

18. June 13, 1891 The Ohio Democrat Logan, OH
Article from The Ohio Democrat, June 13, 1891

Click image to open full size in new tab

Article Text

A SKIN GAME Practiced By a Guthrie Bank-Started Without a Dollar and Took All It Could Get Without Intending to Pay Back. Receiver E. D. Mex, of the Commercial bank, Guthrie, Ok., which failed some months ago, has handed in his report to the court. It shows that the bank from its inception was run with a view to take in all it could in deposits and then fail. The defunct bank started without a dollar. It opened on the 22d of April, 1889. On the 23d $10,000 in silver was received from the Newton national, of Newton, Kan., by express, and the same day $12,000 was sent back to the Newton national. The deposits for the first three months averaged $18,000 a day. There is no record that any of the organizers of the institution or any body else ever put in a dollar except the depositors. The handsome brick building was built on depositors' money. President J. M. Rogsdale credited himself with having deposited $55,000, while another party named T. M. Rogsdale had a credit of $48,000. The books are in a bad condition.