22159. Miners & Merchants Bank (Chelan, WA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
January 10, 1925
Location
Chelan, Washington (47.841, -120.016)

Metadata

Model
gpt-5-mini
Short Digest
4b21756f

Response Measures

None

Description

Bank was closed January 10, 1925 after discovery of a $45,000 defalcation by cashier Clarence R. B. VanSlyke (who died the next day). Closed under state supervision and reopened within two weeks (reported Jan 29, 1925) with no loss to depositors; shortage covered by surplus and a $25,000 gift from the president J. J. VanSlyke. No clear contemporaneous report of a depositor run; cause of suspension is bank-specific embezzlement.

Events (2)

1. January 10, 1925 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of a $45,000 shortage/defalcation embezzled by cashier Clarence R. B. VanSlyke; state supervisor closed the bank after the shortage was discovered.
Newspaper Excerpt
the Miners' & Merchants' bank of Chelan reopened today after closing January 10 because of $45,000 defalcation of former Cashier Van Slyke.
Source
newspapers
2. January 29, 1925 Reopening
Newspaper Excerpt
After being closed less than two weeks, the Miners and Merchants Bank at Chelan, reopened today with no loss to any depositors. ... The shortage was covered by a surplus and President J. J. VanSlyke gave $25,000 to the bank, giving the institution a new surplus of $12,500. (Jan. 29, 1925).
Source
newspapers

Newspaper Articles (5)

Article from The Dalton Delegate, January 16, 1925

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Article Text

ALL SAYINGS, ACHIEVE. MENTS, SUFFERINGS, HOPES AND FEARS OF MANKIND Van Slyke, cashier of Miners and Merchants Bank of CheWash., drove his automobile off lan, the Chelan gorge bridge and plunged feet his death, soon after the bank had been closed by state aminer. state supervisor of banking. said there was an defalcation of $45,000 in the apparent bank's Voluntary consolidation of railroads of the nation into several systems, with the government maintaining nominal legal control Insure each section of the country railroad competition, was declared in Salt Lake City by Samuel Pyeatt, president of the Denver Rio Grande Western railroad, basic solution to the road problem facing the country day. The deputy constable's badge once worn by Kenneth Gibson of Long Beach, Calif., missing from his chest as the result of report to the county civil service that the man who took all the examinations Gibson supposed have taken to get his apopintment, includan oral and physical not Gibson. but substitute sent into the breach by him satisfy "red and insure good rating. In his first statement since his volvement in alleged deal in which was said to have received $1,250 for delivering pardon, Russell Davis, son of Gov. Jonathan M. Davis of Kansas, declared his father had known nothing of the affair. Young Davis declared he had taken to his own room in the executive manse the $1,000 given him as "first Installment" by Fred Pollman, pardoned forger. His father had not been of the payment, he asserted. The cost operating the government printing office during the last four years has been less than was expended during the preceding four years, George H. Carter, public printer, strted in his annual port, made public few days ago, while in the period unexpended balances amounting to $4,650,218 returned to the treasury. addition, he reported receipts amounting to $1,083,857 from sale of waste paper and useless equipment. These are the offices and the men whose resignations and appointments have been announced indicated in Washington recently. Joseph resigned after years the Supreme Court. Harlan Stone was the Supreme Court, forecasting his retirement as attorney general. Charles B. Warren was named attorney Charles E. Hughes signed secretary of state. Frank Kellogg was selected for secretary of state, making prospective in the to the court James. Oliver Wendell Holmes was said by friends to have decided retire from the Supreme Court before March Indications have been given at the Treasury that an investigation into conditions in several customs offices in different sections of the country under as result of disclosures way in the secret into conditions the agents the Hawaiian among customs office. contest of the election of Senator Smith Brookhart, filed in the Senate on Iowa, was half of Dan Steck, his Democratic The petition was filed by opponent. Robinson of Arkansas, the Senator Democratic will go to the Senate privileges and elections committee. forward at high speed the Driving Senate disposed of two more of the analyzed routine supply bills, bringing calendar in that respect practically up combined treasury postof- and date. The $763,000,000 the cars, fice providing two was disposed of departments, fifteen minutes, being taken thirty past soon the measure appropriating $125,000,000 for the agricultural nounced had been passed after one partment hour and minutes of dischases The resignation of Associate Justice Joseph McKenna announced few 6,400,000 from the bench the Sudays which Court. By virtue the upward preme service on the supreme thirty years' needs bench, Justice McKenna the rankretary of associate justice of the court. He retires because of his advanced age. General Stone has Attorney been appointed to succeed him. In two-hour session the Senate said the passed and sent to conference the for the terior bill. tion by first of the regular supply bills of the ready session claiming Shanghai has been captured surprise attack protest politicactivities Peking. Vincente Blasco Ibanez will be prosecuted in France for his recent against King Alfonso of pamphlet the charge of an offense Spain, on against foreign sovereign. General Guiliaumat, took over command of the Ruhr and Rhineland forces from General Degoutte Maytime made his official some ago, into Duesseldorf in the presence French arms and troops presenting great crowds of Germans. Prompt denial of the entente's right the of the Colprolong occupation the ground of bridgehead on defaults cited in the allied ambassadors' preliminary note handed to the government was volced in the German reply which Paris. Dr. Hans Luther, finance has been selected by President Ebert form new cabinet and the prosof his doing appear bright. pects His ultimate depends on the action taken by the Clerical party, determine the measure of which guaranteed him on the floor support the Reichstag. famous clock room in the The French foreign office at Paris, where Woodrow Wilson, Georges Clemenceau and their fellow peace makers prethe treaty of Versailles, assumed pared the aspect of the treaty making days last week when the allied and Ameriand ministers met there can diplomats to settle some of the conflicts of peace. At an important conference now in at the Kremlin between progress soviet officials and representatives of the peasantry looking more complete sovietization of the wider application of Bolshevism and greater privileges and ants, was decided to give the peasmore active part in Russian antry elections, permitting them to name their own candidates as opposed to purely communistic candidates. The United States battleship Utah, Gen. John Pershing board. arrived Valparaiso, Chill, few days from Antofagasta. The forts ago saluted the warship and immediately had anchored. government reception committee went on board to greet General Pershing. The committee Included Carlos Aldunate Solar, minister of foreign affairs: Oritz minister of war, Admiral Salustio Valdes and number of other navy and army officers. Gov. Hiram Bingham of Connecticut resigned less than hours after his and took the as United States senator. Mickey Walker, welterweight champion, gained popular cleancut decision over Mike heavyweight titleholder, in fast and furious bout at the Sussex armory in New York. Total production of oil in the United the year 1924 was about barrels, according to statistics compiled by the On Weekly for publication in Its annual statistical edition of Jan. 16. Compared with the total of 1923, this total represents decrease of 22,346,000 Baavo Nurml, the "Phantom Finn." wrote the epic of Indoor track and field history at Madison Square GarNew York, when he started his den, American campaign with victories in which he shattered three world's records and conquered the pick of his American and Finnish rivals. Nurmi opened his performance racing triumph mile race which he defeated by narrow marhis greatest American rival, Joie Ray. Less than two hours later he turned to the boards to run away from countryman, Willie Ritola, 5,000 meters race fought out exclusively between the two Finns. Mrs. Carrie Johnson, crippled telephone operator, gave her life In the service her fellowmen while fire swept down the main street of Brooks, Mo., virtually wiping out the settlement. Mrs. Johnson and her assistant, Miss Alva Ingraham, mained at their posts, telephoning warnings to residents the doomed area. Detailed testimony in the DolanO'Connell bribery scandal, made lic by Commissioner and also by President Heydler cago the National League in New York, falls to shed any new light which situation existed at the the time of the last World's Series, in the baseball men who have the report. With the purchase steel coal all-steel passenthe total expenditure of the Missouri Pacific railroad during the days has been brought approximately was in Louis by Baldpresident of the system. The purare in addition to that of fifty heavy locomotives effected last month. In 1924 American farms numbered and totaled acres, only per cent artificialdrained and of which per cent Coverdale, the American Farm Bureau told members Na. tional Drainage Congress thirteenth annual meeting in Chicago. He government could do more American agricultural helping to improve lands under than by remote regions.


Article from The Alaska Daily Empire, January 29, 1925

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Article Text

CLOSED BANK REOPENS WITH LOSS COVERED Bank Suspended Two Weeks Ago Is Reopened - Depositors Lose Nothing. OLYMPIA, wasn., Jan. 29.After being closed less than two weeks, the Miners and Merchants Bank at Chelan, reopened today with no loss to any depositors. This is the announcement made by Supervisor of Banking Minshull. He announced the bank was closed after discovery of a shortage of $45,000 embezzled by Cashier Clarence R. B. VanSlyke. The latter was killed the next day after the shortage was discovered, Jan. 10, when his automobile plunged off the Chelan Falls bridge. The shortage was covered by a surplus and President J. J. VanSlyke gave $25,000 to the bank, giving the institution a new surplus of $12,500.


Article from Juneau Empire, January 29, 1925

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Article Text

CLOSED BANK REOPENS WITH LOSS COVERED Bank Suspended Two Weeks Ago Is Reopened Depositors Lose Nothing. wasn. After being closed less than two weeks. the Miners and Merchants Bank at Chelan. reopened today with no loss to any depositors. This is the announcement made by Supervisor of Banking Minshull. He announced the bank was closed after discovery of a shortage of $45,000 embezzled by Cashier Clarence R. B. VanSlyke. The latter was killed the next day after the shortage was discovered, Jan. 10. when his automobile plunged off the Chelan Falls bridge. The shortage was covered by surplus and President J. J. VanSlyke gave $25,000 to the bank, giving the institution a new surplus of $12,500.


Article from The Missoula Sentinel, January 29, 1925

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Article Text

BANK REOPENS. By the Associated Press Wenatchee, Jan. The Miners' & Merchants' bank of Chelan reopened today after closing January 10 because of $45,000 defalcation of former Cashier Van Slyke.


Article from The Spokesman-Review, May 21, 1926

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Article Text

LETTER IS CRUX OF $61,000 Insurance Firms Seek to Prove Clarence Van Slyke Killed Self. Dear Dad: letterhead (Chelan Produce company) the cause all my trouble. To run on the bank had pay the this concern and found protect the bank. Dad, the dying wish of will your part them demand note. Erma will sign when she knows Ask them statement to the effect the books are satisfactory. For God's my sacrifice appear can my will pay for don't pay anything God how am. Dad. make the sacrifice. you all too dearly let suffer for my disgrace. Please, Dad, take care of Erma. seems me by doing my share time Erma and Kay ought the end and for sake get the examask stop any rate get you can get the money. They are genam sure will their part. Please, Dad. try forgive CLARENCE. The foregoing letter was Introduced Frank Van of Clarence Slyke, former cashier of the Miners bank the trial suit Monday against the Bonding and Insurance company and the Life Insurance Insurance money was killed Jan10, 1925, when automobile cliff gorge and fell 200 feet. His father Van Slyke. was president the Chelan bank. On the morning that the above letter alleged livered the elder Van federal closed the of Had Double Indemnity. Part of the in double to James attorney for will that Mr Van death but planned Mr. Williams policies tained clauses against suicide during the said he did not unwhy the duced he said the defense The letter for his father before accident intimates that intended kill himself order that personal insurance pay the On the Mrs. January her husband had appeared mation that anything was wrong the night January and get before he next me that he going Chelan Falls before heard him water before left. Left Letter for Bank hour the and came downstairs Mr was calling for him that gone Chelan Falls After had the telephone our maid, Edwards. handed letter and said Clarence had left word for took the letter the bank father He only the first line and put the letter the the bank standing there asked the trouble Mr. Van told few later not read the letter dur. Frank Graves. He read the letter and told not took original the hotel and destroyed Introduce Copy of Letter. The letter which introduced the trial is letter which from federal bank who, the letter January Attorney James Williams last car 1920 model," Mrs. Van testified. oftentimes throw whole weight against the steerwheel engine was faulty and often stalled.' Slyke's Death In Court Issue. Sun glaring into the eyes of Clar. morning January last blinded him he drove his car up the Chelan grade that he drove close the edge chasm. His struck large rock which threw over the eliff, causing his Such the contention Mrs. Van Slyke her suit hnd company and the Life Insurance declaring his death suicide. policies clause fusing suicide occurred within year after their issuance. They were issued last October. Claim Car Ran Over Him. of the out the that Mr. Slyke got his car the point over. that gear by that started when cranked and, ning him. knocked him down the bank crashed over The rested its case when court Attorney for the the deposition the bank examiner discovered the shortage the Miners and Merchants' Chelan. defense the shortage resulted in Mr. Van Slyke committing Insurance Totals $61,000. In the present suit but There additional policy of the Aetna company which carries double demnity which payment refused. This must be paid If Mrs. Van read into the record Attorney Kizer and and the of the shortly after its 00currence. Hope to Prove Death. On the testimony of W. Parks. the reach Mr. Van Slyke after the the plaintiff bases its main hope of provaccidental Mr Parks said the road was covwith big rocks and that time the particular the that from the high cliff He said fact turning off the bridge an rect path by Mr. Van Slyke's unless wheel was twisted sharply He this was due sharp curve there and the contour of road. Claims Sun Was Blinding He also said the sun was shining brightly morning blinding any one driving the Mr. He flag truck shortly but the truck kept the driver couldn't for the sun. He declared fully 90 feet the bridge to the point where Van car struck the which caused his car plunge the This rock two feet he too under He pass off his belief the sun blinded Mr Van caus. to permit his take its course and when he struck the rock he too close the bank vent catastrophe He said Mr. Van Slyke died minutes reached which very soon after the accident