gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7e01dd15d63d5203
Response Measures
None
Description
Assignee B. Elliott and criminal prosecution of the president indicate insolvency and permanent failure.
Events (2)
1.May 1, 1924*Receivership
Newspaper Excerpt
testimony offered yesterday in District Judge Franklin's court by B. Elliott, the bank's assignee.
Source
newspapers
2.May 1, 1924*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended amid insolvency and allegations the president accepted deposits while knowing the bank was insolvent.
Newspaper Excerpt
the bank suspended business in May. 1924.
Source
newspapers
Newspaper Articles (2)
1.April 17, 1925The Des Moines RegisterDes Moines, IA
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Article Text
TELLS OF BANK 'CUSHION FUND'
Declares Thomas Had Money in Another Bank.
Nearly worth of stock certificates of the defunct Capitol Hill bank, which were listed as assets the institution's statements shortly before the bank suspended business in May. 1924. constituted the bank's preferred stock according to testimony offered yesterday in District Judge Franklin's court by B. Elliott, the bank's assignee. Elliott the last witness yesterday the trial Thomas, president the under indictment the acceptance of deposits while knowing the bank was Elliott testified after he of that Thomas savings count Iowa and Trust Thomas balance in this account in year was Elliott explained was his understand ion fund' which the bank president in the other bank as protective measure Further questioning of Elliott the elicited money this account offered collateral Thomas he from lowa Trust company Elliott and loan allowed remain in the record despite determined efforts on the part Thomas counsel to stricken. was preceded the witness stand Troyer. cashier bank Troyer related the manner in which the bank accepted deposits and explained the system of book. keeping that had been followed bank the time he affiliated the institu Only half dozen persons tended the afternoon session the trial.
2.April 28, 1925The Des Moines RegisterDes Moines, IA
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Article Text
HINTS THOMAS VICTIM OF PLOT
Banker's Counsel in Plea Before Jury.
Intimating that the prosecution of G. G Thomas president of the defunct Capitol Hill bank, now Possibility that the new Polk being tried in district court on county district judge, whom Gov. charge of accepting deposits after ernor Hammil is expected to aphaving knowledge that the bank point soon, will have jurisdiction conspiracy of the trial of at least 100 equity of some of the larger banks here cases as his initial magisterial to force private banks out of busi- duties in this district, loomed as the conference yester John Mulvaney, Thomas day between District Judge lawyer, yesterday afternoon Thompson and County Attorney pleaded with jury to acquit the Seeburger Judge Thompson has gray haired defendant charge the assignment of "Why make Mr Thomas bear the main the brunt of banking topic of discussion the of this community queried his county attorney and Judge lawyer. B. Elliott for those which whom Mr. Seeburger has filed and feel sure asking the the only levy $600 against instance of any defendant petitions that Thomas may made that also request appeared That was junctions be placed against the It Mr defendants Thomas Fort Madison because is believed likely that the he speElliott was the cial for the principal these rum cases will be saneent while Mulvaney tioned his argument to the nine women and men who STEPHENSON BAIL will decide the former banker's fate Mulvaney also referred repeat HEARING DELAYED edly lots known as the Donald Park ad- UNTIL NEXT FRIDAY dition in which Thomas said have had controlling interest at the time his bank suspended busiAssociated The hearing upon petition for admission is that the defense under will short indictment for first degree murafter noon today Assistant der in connection with the death County Attorney Ladd then will of Miss Madge Oberholtzer start rebuttal today until next Friday The case will reach at the jury either late this afterThe same action taken in noon or tomorrow the cases of Earl Klinck and Earl
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
