Clarinda Trust & Savings Bank

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: June 30, 1916
Location: Clarinda, Iowa (40.742, -95.038)

Metadata

Model: gpt-5-mini
Short Digest: c5c12b2d

Response Measures

None

Description

Bank was investigated for a large shortage (estimated $40-50k); examiners reopened the bank on July 1. Articles explicitly state there was no run. Cause of suspension was bank-specific adverse information (shortage/embezzlement). Directors signed bond to make good; bank reopened after exam.

Events (2)

1. June 30, 1916 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Investigation revealed a large shortage (estimated $40,000 to $50,000) and a bookkeeper short $4,100, prompting examination and temporary closure.
Newspaper Excerpt: No official report has as yet been filed ... investigations of the Clarinda Trust and Savings Bank. ... the shortage in the bank will run from $40,000 to $50,000.
Source: newspapers

2. July 1, 1916 Reopening

Newspaper Excerpt: the bank was reopened on July 1 ... 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 have signed a bond to make good personally whatever is necessary . . . deposits have been coming into the bank since it was reopened on July 1 than before (evening Times-Republican, July 6; Tarkio Avalanche report).
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 ч. 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.