2747. Clarinda Trust & Savings Bank (Clarinda, IA)

Bank Information

Episode Type
Suspension โ†’ Reopening
Bank Type
trust
Start Date
June 30, 1916
Location
Clarinda, Iowa (40.742, -95.038)

Metadata

Model
gpt-5-mini
Short Digest
8d94bc3eb7115f28

Response Measures

None

Description

Bank was investigated for a large shortage; it was examined by state bank examiners, reopened on July 1, 1916, and there was explicitly no run on it. Cause of suspension was bank-specific adverse information (shortages/possible embezzlement). OCR typos corrected (e.g., 'Clainda' โ†’ Clarinda).

Events (3)
1. June 30, 1916 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Investigation into a large shortage (unofficially $40,000โ€“$50,000) and bookkeeping deficits (bookkeeper short $4,100) led to exam and temporary closing/suspension for investigation.
Newspaper Excerpt
After an examination by two state bank examiners, the bank was opened for business again, Saturday morning.
Source
newspapers
2. July 1, 1916 Reopening
Newspaper Excerpt
the bank was reopened on July 1 ... reports ... show that more deposits have been coming into the bank since it was reopened on July 1 than before and the directors have signed a bond to make good personally whatever is necessary.
Source
newspapers
3. July 1, 1916* Other
Newspaper Excerpt
Clarinda was greatly shocked ... by the suicide of C. R. Spry, vice-president of the Clarinda Trust and Savings Bank. Mr. Spry's accounts have been found to be all right but Guy Brent, 1 book-keeper, is short $4,100 in his accounts.
Source
newspapers

Newspaper Articles (2)
1. July 6, 1916 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, July 6, 1916

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Article Text

SHORTAGE MAY TOTAL $50,000. No Official Report of Clarinda Bank Investigation Has Been Filed. Special to Times-Republican. Des Moines, July 6.-No official report has as yet been filed with the state banking department as to the result of the investigations of the Clarinda Trust and Savings Bank. It has been unofficially estimated that the shortage in the bank will run from $40,000 to $50,000. No evidence has been found as yet to show where the bulk of this money has gone. The reports of the banking department, however, show that more deposits have been coming into the bank since it was reopened on July 1 than before and the directors have signed a bond to make good personally whatever is necessary.

2. July 14, 1916 The Holt County Sentinel Oregon, MO
Article from The Holt County Sentinel, July 14, 1916

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Article Text

Clarinda Bank Official Committed Suicide. Clarinda was greatly shocked, Wednesday of last week, by the suicide of ั‡. R. Spry, vice-president of the Clainda Trust and Savings Bank. Mr. Spry's accounts have been found to be all right but Guy Brent. 1 book-keeper, is short $4,100 in his accounts. Spry recently gained knowledge of this shortage and it 18 supposed t'e knowledge preyed on his mind, and that he was mentally unbalanced when he took his life. Presilent Orr was in the East, and A. F. Galloway. the cashier, was in Minneapolis, when the tragedy occurred. After an examination by two state bank examiners, the bank was opened for business again, Saturday morning. and there was no run on it. The directors are said to be worth several million dollars.-Tarkio Avalanche, July 7. Mr. Spry was an uncle of Mrs. A. A. Jeffrey, residing near Oregon, and Mr. and Mrs. Jeffrey were in attendance at the funeral. The sincere sympathy of our citizens go out to Mr. and Mrs. Jeffrey in their hour of affliction.