Tenino bank - Tenino, WA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 9, 1914
Location: Tenino, Washington (46.857, -122.853)

Metadata

Model: gpt-5-mini
Short Digest: cf9e7820

Response Measures

None

Description

Article (Washington Standard, 1914-10-09) reports that a receiver was to be appointed for the Tenino institution after the Olympia Bank & Trust closed and investigations into embezzlement; no mention of a depositor run. This indicates a suspension/closing with a receiver (government action).

Events (1)

1. October 9, 1914 Suspension

Cause: Government Action
Cause Details: Receiver was to be appointed for the Tenino institution following closure/insolvency issues in related banks and embezzlement investigations; bank effectively closed and placed into receivership process.
Newspaper Excerpt: Wednesday Frank P. McKinney, assistant cashier of the Olympia National bank, was appointed receiver of the local and Tenino banks, but declined to handle more than the local bank. Another receiver will be appointed for the Tenino institution.
Source: newspapers

Newspaper Articles (1)

1. October 9, 1914 Washington Standard Olympia, WA

Article from Washington Standard, October 9, 1914

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Article Text

HAYS AGAIN ARRESTED / Second Charge Accuses Him of Embezzling $36,550 of Bank's Funds. W. Dean Hays, organizer and cashier of the Olympia Bank & Trust company which recently was closed, was arrested again Tuesday on a charge of embezzling $36,550 of the funds of that bank and was later released on an additional bond of $5,000. He was arrested last week on a charge of accepting $227.51 in deposits when he knew the bank was insolvent, and at that time furnished $10,000 bond, so that he is now at liberty under $15,000 bond. F. G. Blakeslee, W. D. McArthur of Tenino, E. W. Kearns and Louis Fortier were sureties on the additional bond. The latest charge against Hays is said to have grown out of the manner in which the local bank was financed and is so reported to be involved with the affairs of the failed United States National bank at Centralia. In view of the fact he was already under $10,000 bond, Judge Mitchell decided an additional bond of $5,000 would be sufficient, inasmuch as it could be raised or lowered later if desired. Wednesday Frank P. McKinney, assistant cashier of the Olympia National bank, was appointed receiver of the local and Tenino banks, but declined to handle more than the local bank. Another receiver will be appointed for the Tenino institution. Last Friday it was announced that Superior Judge Claypool would resign that position and be appointed receiver of these banks, but he announced Monday that, owing to the injury of his son Jack in a football game at St. Martin's college, he would not be able to accept the appointment because his son's health would demand too much of his attention.