18342. Bank of Jacksonville (Jacksonville, OR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 1, 1920*
Location
Jacksonville, Oregon (42.313, -122.967)

Metadata

Model
gpt-5-mini
Short Digest
1eab58e1

Response Measures

None

Description

Articles describe the Bank of Jacksonville as a failed institution, placed in liquidation, with prosecutions and suits over large overdrafts and careless bookkeeping. No article describes a depositor run; the failure appears driven by bank-specific mismanagement/overdrafts. Listed among state banks now in liquidation in Mar 1922 report.

Events (2)
1. August 1, 1920* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large overdrafts, careless bookkeeping and mismanagement under the cashier/manager leading to insolvency and closure.
Newspaper Excerpt
checks cashed by the failed bank of Jacksonville before it became defunct ... E. D. Kahler ... testified that no individual ledger account had been kept ... until the bank was closed last August.
Source
newspapers
2. December 31, 1921 Receivership
Newspaper Excerpt
Banks now in liquidation include ... Bank of Jacksonville. Aggregate resources at the close of business December 31 ... Banks now in liquidation include the ... Bank of Jacksonville, Crook County bank of Prineville ... Nehalem Valley bank of Wheeler.
Source
newspapers

Newspaper Articles (5)
1. January 26, 1921 Ashland Weekly Tidings Ashland, OR
Article from Ashland Weekly Tidings, January 26, 1921

Click image to open full size in new tab

Article Text

# BANK CASES TO # GET STATE AID # IN PROSECUTION Attorney General and Bank Exam, iner Pledge Assistance to County Prosecutor Moore-Governor Re- serves Petition Decision. County Prosecutor Rawles Moore is back from Salem where he had gone to confer with Governor Ben Olcott and Attorney General Van Winkle concerning the Bank of Jack- sonville cases which wil come up for trial at the February term of the circuit court. According to the Medofrd Mail- Tribune Governor Olcott gave no decision one way or the other, rela- tive to the petition of the citizens of Jacksonville for the appointment of a special prosecutor to try the cases. Attorney General Van Winkle ap- proved the plan of Prosecutor Moore for the handling of the cases, and promised any aid sought. Bank Examiner F. S. Bramwell will visit Medford next week to out- line a plan of action in the prosecu- tion of the bank cases, and go over the data with Prosecutor Moore and confer with county officials re- garding the same. The Attorney General's office co- incided with Prosecutor Moore's view that he should be in charge of the cases. The petition of the Jacksonville citizens fo ra special prosecutor was sent before Thanksgiving, and the county seat residents have been anx- lous ever since for a reply. Department offices at the state capitol are highly interested in the bank trials, according to Prosecutor Moore, because of the connection of the state bank examiner's office with the suspension of the institution. Prosecutor Moore said that he was going to devote all his time btween now and the opening of court to the unearthing of evidence and marshal- ing evidence in the case. The court session is expected to last a month

2. March 26, 1921 Capital Journal Salem, OR
Article from Capital Journal, March 26, 1921

Click image to open full size in new tab

Article Text

Jury Rules Overdrafts To Be Paid State Wins Second Case In Jacksonville Over Trial Bank C.C.Kubli Medford, Or., Mar. 26.-One of the largest money verdicts ever rendered by a jury in Jackson county was that given in circuit court at Jacksonville last Friday in the suit against Chester C. Kubli, the Applegate stockman, for $42,203.72 due on overdrafts, drafts and checks cashed by the failed bank of Jacksonville before it became defunct, the action being brought by F. C. Bramwell, state superintendent of banks. It was the second victory of Superintendent Bramwell this week in a similar case growing out of the bank failure, the other case being that brought by him against J. E. Bartlett, former Medford dealer in electrical supplies, the jury bringing in a verdict for $2,SI 543.14 for overdrafts and the like. W Still another similar suit is pendm ing and will be placed on trial in W circuit court at Jacksonville next h Monday. It is that against A. W. m Walker, the Medford automobile bl dealer, for the recovery of $22,I 000 on overdrafts and notes. t The indictments against Kubli f C and Bartlett charging them with h abetting and aiding a bank cashier to defraud a bank, were dismissed early in this week on motion of the stae, as being faulty. A) like indictment against Walker was dismissed some time ago. Testimony dealing with checks, notes, drafts and overdrafts running into sums of five figures and careless bookkeeping that existed for years in the bank of Jacksonville under Johnson's management was a feature of today's hearing. E. D. Kahler, in charge of the untangling of the affairs of the defunct bank, testified that no individual ledger account had been kept of Kubli's account from December 24, 1919, until the bank was closed last August. The defense endeavored to show that there was a ledger account of Kubli's affairs from the time he opened an account in 1910. yo The defense objected to the inim troduction of a ledger sheet showbe ing the debits and credits of Kubli, on the grounds of incompema tency for the reason that they had ni been prepared recently and were Se not the original sheets. They were to admitted by the court. by

3. April 6, 1921 Ashland Weekly Tidings Ashland, OR
Article from Ashland Weekly Tidings, April 6, 1921

Click image to open full size in new tab

Article Text

Hines in connection with the failure of the Bank of Jacksonville for re-consideration at the May term of the Jacksonville county grand jury. Mrs. Alta Weinberger has accepted a position in the Price confectionery. She assumed her duties Saturday. Guests stopping at the Hotel Columbia are A. M. Miller of Klamath Falis, Mr. and Mrs. J. H., Booth of Roseburg, Geo. W. Kinber of Deer Park, Wash., and E. A. Smith of Portland. The weather bureau promises generally fair weather, except with occasional rain along the north coast and noraml temperature for the Pacific coast states during the coming week. Mr. and Mrs. Milton Fraley and little son, Billy, and Mrs. W. H. McNair returned home Saturday from an extended visit spent at Pacific Grove, Calif., where they were guests of relatives. Mr. and Mrs. W. E. Sanford, accompanied by their son and daughter, and Miss Mary Laughlin, drove down to Gold Hill Saturday for a brief visit. Ross Eliason is reported to be seriously ill with an attack of pneumonia at his home in Albetra province, Canada, Mr. and Mrs. Eliason had spent the winter in Ashland and only returned to their home a few weeks ago. They struck some very cold weather, however, after their return, during which Mr. Eliason contracted pneumonia. "Ed" and "Toad's" pool room on North Main street, which was recently put into the hands of a receiver, has passed into other hands. Bond & Adkinson are the new proprietors who have opened the rooms for business. Mark Baker is assisting the new management. Mr. and Mrs. Marshall Horn of Hornbrook were week-end guests at the home of Mrs. E. H. Bush on Church street. A 7½-pound daughter arrived at the home of Mr. and Mrs. Andrew Hall Saturday nght. The baby is named Lucille Marie, and both mother and daughter are doing nicely. Mr. and Mrs. George Archibald, while returning from Walla Walla to Oakland, stopped off yesterday between trains and were luncheon guests at the home of Dr. and Mrs. J. S. Parsons on North Main street. Mrs. Archibald was before her marriage Miss Priscilla Carnahan, daughter of Rev. H. A. Carnahan, a former pastor of the Ashland Presbyterian church.

4. March 22, 1922 Ashland Weekly Tidings Ashland, OR
Article from Ashland Weekly Tidings, March 22, 1922

Click image to open full size in new tab

Article Text

ELWOOD INDITED FOR MANSLAUGHTER The grand jury, after indicting Lloyd Elwood of Medford on the charge of manslaughter, Saturday, and cleaning up all other important matters for the term of court which opens today, adjourned until May 15. No other indictments were returned beyond those published heretofore, and the grand jury took no action on matters relating to the failure of the Bank of Jacksonville. The manslaughter indictment directed against Elwood arose from his car having run over and killed Fred Hartzell of Eugene, Ore., a traveling salesman late one night last December while returning home from a dance at Kingsbury Springs His bail was placed at $2500, the same bond that was required when he was bound over to the grand jury from the justice court in Medford. Bail was promptly furnished.

5. March 22, 1922 Capital Journal Salem, OR
Article from Capital Journal, March 22, 1922

Click image to open full size in new tab

Article Text

Financial Conditions In Oregon Gratifying Mr. Bramwell Avers cember 31 aggregated $59,990,Pointing out that only four out 604.69 showing a net increase of of a total of 280 state and na$169,529.69 for the year. tional banks in Oregon were foreed to liquidate during 1921, Deposits Not Decreased Frank C. Bramwell, state superWhile the time and savings deintendent of banks, in his annual posits have shown a slight dereport filed with the state bankcrease during the past year," Mr. ing board here Monday declares Bramwell explains, "there is no that "it is gratifying to observe indication that the people are dethe financial conditions in Orepleting or withdrawing this class gon when compared with other of deposits. It is quite generally states." Other banks closed or conceded that the aggregate desuspended were reorganized and clines in time deposits is chiefly permitted to resume business, the the result of withdrawals for inreport points out. vestment purposes or transfers to The report shows aggregate reeither commercial or savings acsources of the 280 banks in Orecounts. A large volume of time gon at the close of business Deand savings funds have been incember 31 of $288,433,859.49, a vested in government and muninet decrease of $64,098,068.52 as cipal bonds. In fact the investcompared with the resources of ments in this class of securities the previous year. have shown a substantial and con tinued increase." Demand Deposits Decrease The aggregate invested capital Loans and discounts at the end and surplus on December 31 was of the year aggregated $169,803. $31,039,592.35 as compared with 937.44 or a decrease of approxi$30,762,659 on November 15, mately $42,000,000. 1920. Demand deposits show a deOnly 100 of the 186 state banks crease of $46,475,875,89422 declared dividends during 1921, since November 15, 1920 and these dividends aggregating United States deposits and Postal $729,011.82 or approximately Savings deposits during the same 7.07 per cent on the invested capperiod decreased $838,685.37. ital. Forty-three banks sustained Bills, payable, rediscounts and an actual net pss aggregating certificates of deposit, represent$406,388.67. ing borrowed money also show a Banks now in liquidation innet reduction of $7,080,982.14 or clude the First State bank of 41 per cent since November 15, Philomath, American Bank and 1920. Trust company of Portland, Bank Time and savings deposits comof Jacksonville, Crook County bined aggregated $80,769,216.30, bank of Prineville, Lafayette a decrease of $3,572,468.81 since State bank and the Nehalem ValNovember 15, 1920. ley bank of Wheeler. Savings deposits alone on De-