Citizens State Bank - Belleville, WI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 23, 1908
Location: Belleville, Wisconsin (42.860, -89.538)

Metadata

Model: gpt-5-mini
Short Digest: 21769b32

Response Measures

None

Description

Article (River Falls Journal 1908-04-23) reports discovery of a $30,000 defalcation by cashier Edwin C. Story, his suicide attempt and written confession. The bank is described as 'closed' and directors face the deficiency; no reopening is mentioned. This appears to be a suspension/closure caused by bank-specific adverse information (embezzlement).

Events (1)

1. April 23, 1908 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Cashier Edwin C. Story confessed to a defalcation of about $30,000 (embezzlement); attempted suicide after discovery; bank closed as a result.
Newspaper Excerpt: It developed that the defalcation of Cashier Edwin C. Story of the Citizens' State bank of Belleville, will reach $30,000 ... a brother ... went to Chicago to redeem $1,800 in checks which he had drawn on the closed bank.
Source: newspapers

Newspaper Articles (1)

1. April 23, 1908 River Falls Journal River Falls, WI

Article from River Falls Journal, April 23, 1908

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Article Text

NEWS OF WISCONSIN HAPPENINGS OF INTEREST IN THE VARIOUS TOWNS. DEFALCATION IS $30,000 Cashier Story of Belleville Bank Attempts Suicide as Result of Discovery of Theft-Written Confession Found. Madison.-It developed that the defalcation of Cashier Edwin C. Story of the Citizens' State bank of Belleville, will reach $30,000 and perhaps more. Story, who, after the discovery of the shortage, took a large dose of corrosive sublimate, is in precarious condition, and may not live to answer the charge of looting the bank. A written confession by Story was found, in which he says he took about $30,000 and used a double set of books to prevent the officers of the bank and state bank examiners from discovering the shortage. It is not known yet how the money taken by Story was used, but it is believed to have been lost in speculations in cheese and land. Following tips given in the cashier's confession, the state banking commissioner and representatives of the bank have sent special messengers to Chicago and several other cities to recover, if possible, part of the funds. A brother of the cashier, Charles Story, who runs a large mercantile store at Belleville, went to Chicago to redeem $1,800 in checks which he had drawn on the closed bank. The state banking commissioner told the directors of the bank a year ago that he was not satisfied with the methods used by Cashier Story and advised them to correct the objectionable features of the system used. They did not follow the advice and will now lose all of their stock and again as much, which they will have to pay to supply the deficiency.