Watauga State Bank - Watauga, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 2, 1915
Location: Watauga, South Dakota (45.923, -101.543)

Metadata

Model: gpt-5-mini
Short Digest: dcf1b40b

Response Measures

None

Description

Article (The Brookings Register, 1915-12-02) reports the closing of the Watauga State Bank and an investigation finding a shortage of about $4,000. No run is described; the bank is closed and appears to remain so. Bonding company expected to cover losses, depositors likely spared loss.

Events (1)

1. December 2, 1915 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Investigation of the bank's closing revealed a shortage of about $4,000 (suggesting internal losses/insolvency or embezzlement).
Newspaper Excerpt: After spending nearly a week in the investigation of conditions surrounding the closing of the Watauga State Bank of this place, it is understood that the shortage has reached about $4,000.
Source: newspapers

Newspaper Articles (1)

1. December 2, 1915 The Brookings Register Brookings, SD

Article from The Brookings Register, December 2, 1915

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Article Text

Milbank-The Farmers' Elevator company of Milbank has started a new thing here-paying its patrons for the wild oats docked from their grain after cleansing. Wild oats have a market value of from 25 to 27 cents per bushel on the Twin City market. Redfield.-Mrs. S. W. Clark died here Saturday after a few weeks' illness with heart trouble, accentuated by an acute attack of bronchitis. Mrs. Clark was the wife of Attorney S. W. Clark, a former attorney general of the state and present law partner of Senator Thomas Sterling. Lake Andes.-F. A. Ray, a well known resident of this city, and a democratic wheelhorse of this part of the state, has accepted appointment to the office of deputy internal revenue collector, and it is expected will be assigned to duty in South Dakota. For some time he had conducted a hotel in Lake Andes. Mrs. Ray will have charge of the hotel during the remainder of the winter. Rapid City.-Robert Hill, a graduate of the state school of mines here, and until recently employed in silver and gold mining in southern New Mexico, has, according to information received here, sailed for the Belgian Congo in Africa, where he has a two years' con tract to superintend diamond mines owned and operated by an EnglishBelgian syndicate. Mitchell.-Fifteen thousand dollars damages were denied Sampson in circuit court here for the loss of an arin in a runaway while driving the delivery wagon for the Rathbun Grocery company. Sampson claimed the team given him was vicious and not city broke, but the defense claimed the team was frightened at an automobile and the accident was no fault of the grocery company. Aberdeen.-The second plain clothes man employed to inspect the illegal sale of liquor in the city since July 1 has left without being able to find grounds for a single prosecution. The last man was employed by the county a month ago. The first hired was by the dry faction, his work resulting in a Joe Doe investigation which was ad journeyed without a single warrant be ing issued. Pierre.-With attacks from both the national banks and the state banks, the state banking department is making a fight for the carrying out of the recent order requiring state banks to deposit 50 per cent of their reserves in national banks within the state. With a decision against the banking department in the suits by the na tional banks in the circuit court, the opponents of the order express belief that they will win in the supreme court in their case brought by the St. Charles State Bank of St. Charles Gregory county. Watauga.-After spending nearly a week in the investigation of conditions surrounding the closing of the Watauga State Bank of this place, it is understood that the shortage has reached about $4,000. This amount can be collected from the bonding company of Redfield, S. D., and it is believed that the depositors will suffer no loss. The bank carried deposits of $14,000, loans and discounts amounting to $13,000. Pierre.-Governor Byrne has received an invitation to, with a number of others, become the guest of Henry Ford, on a trip to Christiana, Sweden, on the boat Oscar Second, which sails from New York December 4. Mr. Ford will take a number of peace advocates from this country to Sweden to hold a peace conference, and at tempt to secure action on the part of the warring countries of Europe to bring the present struggle to an end. Madison.-Robert S. Vessey, former governor of South Dakota but at pres ent chairman of the co-operative board of the United Commercial agency of Chicago, which concern has on its di rectorate a number of the most influen