22135. Home Security Savings Bank (Bellingham, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
March 31, 1910
Location
Bellingham, Washington (48.760, -122.488)

Metadata

Model
gpt-5-mini
Short Digest
4384dec4

Response Measures

None

Description

The bank was closed by the State Bank Examiner on the last day of March 1910 and a receiver (A. E. Meade / ex-Gov. Mead) was appointed. Articles describe the bank as wrecked/defunct and cite embezzlement and worthless paper; no run is mentioned. Dates taken from article text and publication dates.

Events (3)

1. March 31, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed by state examiner after investigation finding worthless paper, missing mortgage and alleged embezzlement by president Harry J. Welty.
Newspaper Excerpt
The bank was closed by State Bank Examiner J. L. Mohundro on the last day of March
Source
newspapers
2. May 13, 1910 Receivership
Newspaper Excerpt
Ex-Gov. Mead has been appointed receiver for the Home Security Savings Bank, at Bellingham.
Source
newspapers
3. June 24, 1910 Other
Newspaper Excerpt
BELLINGHAM BANKER IS ARRESTED EX-PRESIDENT OF DEFUNCT BANK ... Harry J. Welty, ex-president of the wrecked Home Security bank ... wanted on a charge of embezzlement ... a warrant issued for his arrest charges him with the embezzlement of $10,000.
Source
newspapers

Newspaper Articles (3)

Article from Washington Standard, May 13, 1910

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Article Text

# VELVET and RAGS (INDIVIDUAL OPINION) BY LUE F. VERNON Halley's comet has done a vast amount of good for space-writers, anyway. The Republican could not name a better candidate for Governor of the State than Hay-for defeat. The word "insurgent" to a standpat Republican, has the same effect as a red rag to an angry bull. With Gov. Hay, it was a case of "giving Gen. Lamping a free hand in the reorganization" of the National Guard. Just a tip. The Jeffries-Johnson fight will be "pulled off" allright, allright, and Johnson will "bring home de bacon." It is written so. Though the A.-Y.-P. exposition closed with enough money to pay all debts, it has eight damage suits in courts, which aggregate $45,000. Most editors tell their correspondents not to "get funny." However, Mark Twain left an estate valued at $180,000. Still "Mark Twain" humor doesn't grow on every kind of soil. Wonder if the second marriage of Ruth Bryan Leavitt, daughter of W. J. Bryan, will prove more happy than her first one? Here's hoping it will, for her parents' sake if not hers. "Tie Your Little Bull Outside," is a late song in vaudeville circles. It seems if any bull is to come inside, it should be a little one, hence, "Tie Your Big Bull Outside," would be a better title for the song. Ex-Gov. Mead has been appointed receiver for the Home Security Savings Bank, at Bellingham. Next he will be elected city councilman-than death - politically - for one Mead, ex-Governor of Washington. It is well enough for some people who sneer at those whom nature has not given as pretty a face, as themselves, to learn that no difference however ugly the features of a woman may be, she is a Venus in the eyes of someone. # "Lick Turns Big Gold Key Over to Mayor Fawcett" is a heading in a Tacoma newspaper. This is an eye-opener for Seattle. Seattle has heretofore supposed there wasn't enough gold in Tacoma to make an object large as a cambric needle. Rev. M. A. Matthews, of Seattle, said, recently: "The unprotected girl should come in for just a little more attention and protection at the hands of men than the girl from her happy home with brothers and fathers to defend her." Amen. Chief of Police Wappenstein, of Seattle, may not have known that gambling was being conducted in the Monte Carlo saloon, in the red-light district of that city, but the Sheriff's deputies did, so they raided the joint and arrested the dealers of games therein. A Kent prohibitionist was placed in jail the other day for being drunk. His was a case of not practicing what he preached, worked and voted for a "dry" town. Such hypocrites as this Kent man is what disgusts even those who really believe in the "no saloon" cult. Lottie Collins, who sang and kicked her way into popularity, by singing, fifteen or sixteen years ago, the song "Ta-ra-ra-Boom De Aye," died very suddenly at her home in London, May 3d. She toured the United States during her successful career and made plenty of money. The letters of Frank Kenney describing scenes in foreign lands are very interesting and delightful, to be sure. A man who writes such charming descriptive articles cannot do otherwise than handle the king of all beers "It's the Water," and this Mr. Kenney represents as all STANDARD readers know. H. Hriga, a Japanese 29 years old, tried to commit suicide in Fauntleroy Park, West Seattle, by using a revolver. "Too much study, too much work" was all he would say. It is "too much study, too much work" and no play, that kills the average business man of to-day, whether he be a Jap or any other nationality. The Queen of Roumania collected huge sums for a refuge of the blind. A little town was built and inaugurated for the blind of all nationalities. Now orders have been issued expelling all the blind who are not Roumanians, turning them out to exist as best they may. The Queen never donated a cent of the initial cost, but simply collected from charitably inclined folks. This woman may be the Queen of Roumania, but she is a heartless she-devil with it.


Article from The Tacoma Times, June 24, 1910

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Article Text

BELLINGHAM BANKER IS ARRESTED EX-PRESIDENT OF DEFUNCT BANK RETURNS FROM "THE WOODS" AND SURRENDERS. (By United Press Leased Wire.) BELLINGHAM, June 24.-Harry J. Welty, ex-president of the wrecked Home Security Savings bank of this city, wanted on a charge of embezzlement, reached Bellingham at an early hour this morning. He gave himself up. He has been at Vancouver, B. C., since Wednesday, when he came down from some point in Northern British Columbia on the steamer Beatrice. The bank was closed by State Bank Examiner J. L. Mohundro on the last day of March, but conditions, had been such that on the first of the year the examiner, after an investigation, ordered that Welty step out of the instituoion. This he did, but following the closing of the bank the ex-president could not be found. A warrant issued for his arrest charges him with the embezzlement of $10,000. During the time that he has been absent from the city, Welty has been in hiding in the wilds of British Columbia. A reward of $500 was offered for his arrest by the board of county commission ers, but this was withdrawn on motion of the prosecuting attorney who stated to the board some days ago that he Lad information in his possession that led him to believe Welty would come back of his own free will and give himself up. Among the charges that the receiver's report makes against Welty is that dealing in high finance have resulted in the bank being filled with worthless paper for which gold coin was given, and that in one instance a $30,000 mortgage is missing.


Article from East Oregonian : E.O, June 25, 1910

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Article Text

BANK PRESIDENT WELTY COMES OUT OF HIDING Bellingham, Wash.-Harry J. Welty, ex-president of the wrecked Home Security Savings bank of this city, wanted, on a charge of embezzlement, reached Bellingham at an early hour Friday morning. He gave himself up to the sheriff of Vancouver, B. C., last night. He has been there since Wednesday, when he came down from his hiding place in British Columbia on the steamship Princess Beatrice. The bank was closed by State Bank Examiner J. L. Mohundro on the last day of March, but conditions have been such that on the first of the year, the examiner, after an investigation, ordered that Welty step out of the institution. This he did, but following the closing of the bank the ex-president could not be found. A warrant issued for his arrest charging him with the embezzlement of $10,000, but it was given out at the time of its issuance that this charge was made because embezzlement is an extradition crime. The reports of A. E. Meade, former governor, who is receiver for the bank, and of the state bank examiner, show beyond question that other charges will be preferred against Welty, as do also the statements of the depositors' committee. During the time that he has been absent from the city Welty has been in hiding in the wilds of British Columbia. A reward of $500 was offered for his arrest by the board of county commissioners, but this was withdrawn on motion of the prosecuting attorney, who stated to the board some days ago that he had information in his possession that led him to believe Welty would come back of his own free will and give himself up.