3698. Princeton Savings Bank (Princeton, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
January 30, 1908
Location
Princeton, Iowa (41.675, -90.340)

Metadata

Model
gpt-5-mini
Short Digest
ad82ba9f

Response Measures

None

Description

The articles report the Princeton Savings Bank was closed by order of the state auditor and a receiver appointed (district court, Davenport). Cashier arrested for making false entries and ~ $10,000 shortage discovered. No mention of a depositor run; sequence is a suspension ordered by authorities followed by receivership and criminal charges, consistent with a suspension leading to closure/receivership.

Events (3)

1. January 30, 1908 Receivership
Newspaper Excerpt
a receiver for it, in the district court at Davenport. It is understood by the banking department that a movement is on to reorganize the institution.
Source
newspapers
2. January 30, 1908 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed by state auditor after discovery of a shortage (~$10,000) and false entries in the bank's books.
Newspaper Excerpt
the Princeton bank which recently closed its doors
Source
newspapers
3. February 8, 1908 Other
Newspaper Excerpt
B. S. Tax. Callick, cashier of the defunct Princeton. la., Savings bank, was arrested today on a charge of making false entries in the bank's books. The bank was closed recently on order of the state auditor and a receiver was placed in charge. A shortage of about $10,000 has already been discovered.
Source
newspapers

Newspaper Articles (10)

Article from Audubon Republican, January 30, 1908

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Article Text

A Receiver Is Appointed. Auditor of State Carroll has been informed that the bank examiner, Leland Windsor, who has been examining the Princeton bank which recently closed its doors, has secured the appointment of a receiver for it, in the district court at Davenport. It is understood by the banking department that a movement is on to reorganize the institution.


Article from Twice-A-Week Plain Dealer, January 31, 1908

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Article Text

A Receiver Is Appointed. Auditor of State Carroll has been informed that the bank examiner, Leland Windsor, who has been examining the Princeton bank which recently closed its doors, has secured the appointment of a receiver for it, in the district court at Davenport. It is understood by the banking department that a movement is on to reorganize. the institution.


Article from The Cairo Bulletin, February 9, 1908

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Article Text

MADE FALSE ENTRIES. Des Moines. la. Feb. 8.-B. S. Tax. Callick, cashier of the defunct Princeton. la., Savings bank, was arrested today on a charge of making false entries in the bank's books. The bank was closed recently cn order of the state auditor and a receiver was placed in charge. A shortage of about $10,000 has a:ready been discovered.


Article from Audubon County Journal, February 13, 1908

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Article Text

Arrest The Cashier. Davenport.-B. S. McCully, former cashier of the Princeton savings bank, has been placed under arrest, charged with making false entries in the bank's books. State Auditor Carroll recently removed Cashier McCully and appointed William Gruenwald of Davenport receiver of the bank. It is stated that the shortage in the bank's accounts amount to nearly $10,000. McCully furnished a bond of $3,000.


Article from Twice-A-Week Plain Dealer, February 14, 1908

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Article Text

Cashier Is Arrested. B. S. McCullick, cashier of the defunct Princeton (lowa) Savings bank, has been arrested on the charge of making false entries in the bank's books. The bank was closed recently on order of the state auditor and a receiver placed in charge. A shortage of about $10,000 has been discovered.


Article from The Miller Press, February 20, 1908

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Article Text

Domestic. A Southern Pacific passenger train was wrecked near Forest Grove, Or. Three passengers were killed and eighteen injured. Two men were fatally burned and Ave or six others injured in two explosions at the Monongahela furnace at McKeesport, Pa. While at play, knocking icicles from the eaves, Willie Evans, aged seven, of Waterloo, Iowa, failed to dodge a heavy one, which penetrated his right eyeball. Surgeons removed his eye and hope to save his life. The Jefferson county, Ky., board of tax supervision has raised the assess. ment of the Southern Pacific company from $500,000 to $10,000,000. The Southern Pacific company, which is incorporated in Kentucky, has an of fice at Beechmont, a suburb of Louis ville. Caruso is vindicated. Mrs. Hannah Stanhope, who caused the arrest of Enrico Caruso, the Metropolitan opera house tenor, on charge of annoying her in the Central Park monkey house in New York last year, last week was fined 1 cent for intoxication and disorderly conduct. B. S. McCullic, cashier of the defunct Princeton (Iowa) Savings bank was arrested on the charge of making false entries in the bank's books. The bank was closed recently on order of the state auditor and a receiver placed in charge. A shortage of about $10, 000 has been discovered. Four men blew open the vault of the Bank of Sulphur Springs at Sulphur Springs, Ark., and secured over $1,300 in cash, besides notes and other valuables. Officers reached the scene just in time to see four men mount their horses and ride westward. It is be lieved they have made good their escape. Vice President Murphy stated that the managements of the Cincinnati New Orleans & Texas Pacific railway and Alabama Great Southern railroad have determined to put into effect on March 1, 1908, a reduction of 10 per cent in the pay of the president, vice presidents and other general officials and employes receiving monthly sal aries of $250 and over. M. W. Brest, night watchman at & paper mill at Kalamazoo, Mich., found a $500 diamond in the refuse from the rag cleaning room of the mill. Two diamonds had already been found in the paper mills within two months. Locked up in a freight car for twc weeks, without food, a little fox ter rier was rescued near Sterling, Iowa by trainmen who chanced to enter the car. The dog's ribs nearly protruded from its little body and it was toc feeble to rise. The car in which the animal was imprisoned came from the steel mills of Pennsylvania.


Article from The Wahpeton Times, February 20, 1908

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Article Text

Domestic. A Southern Pacific passenger train was wrecked near Forest Grove, Or. Three passengers were killed and eighteen injured. Two men were fatally burned and five or six others injured in two explosions at the Monongahela furnace at McKeesport, Pa. While at play, knocking icicles from the eaves, Willie Evans, aged seven, of Waterloo, Iowa, failed to dodge a heavy one, which penetrated his right eyeball. Surgeons removed his eye and hope to save his life. The Jefferson county, Ky., board of tax supervision has raised the assessment of the Southern Pacific company from $500,000 to $10,000,000. The Southern Pacific company, which is incorporated in Kentucky, has an office at Beechmont, a suburb of Louisville. Caruso is vindicated. Mrs. Hannah Stanhope, who caused the arrest of Enrico Caruso, the Metropolitan opera house tenor. on charge of annoying her in the Central Park monkey house in New York last year, last week was fined 1 cent for intoxication and disorderly conduct. B. S. McCullic, cashier of the de!unct Princeton (lowa) Savings bank. was arrested on the charge of making false entries in the bank's books. The bank was closed recently on order of the state auditor and a receiver placed in charge. A shortage of about $10,000 has been discovered. Four men blew open the vault of the Bank of Sulphur Springs at Sulphur Springs, Ark., and secured over $1,300 in cash, besides notes and other valuables. Officers reached the scene just in time to see four men mount their horses and ride westward. It is berieved they have made good their escape. Vice President Murphy stated that the managements of the Cincinnati, New Orleans & Texas Pacific railway and Alabama Great Southern railroad have determined to put into effect on March 1, 1908, a reduction of 10 per cent in the pay of the president, vice presidents and other general officials and employes receiving monthly salaries of $250 and over. M. W. Brest, night watchman at a paper mill at Kalamazoo, Mich., found a $500 diamond in the refuse from the rag cleaning room of the mill. Two diamonds had already been found in the paper mills within two months. Locked up in a freight car for two weeks, without food, a little fox terrier was rescued near Sterling, Iowa, by trainmen who chanced to enter the car. The dog's ribs nearly protruded from its little body and it was too feeble to rise. The car in which the animal was imprisoned came from the steel mills of Pennsylyania,


Article from The Pioneer Express, February 21, 1908

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Article Text

Domestic. A Southern Pacific passenger train was wrecked near Forest Grove, Or. Three passengers were killed and eighteen injured. Two men were fatally burned and five or six others injured in two explosions at the Monongahela furnace at McKeesport, Pa. While at play. knocking icicles from the eaves, Willie Evans. aged seven, of Waterloo. Iowa. failed to dodge a heavy one. which penetrated his right eyeball. Surgeons removed his eye and hope to save his life. The Jefferson county, Ky., board ot tax supervision has raised the assessment of the Southern Pacific company from $500,000 to $10,000,000. The Southern Pacific company. which is incorporated in Kentucky, has an office at Beechmont, a suburb of Louisville. Caruso is vindicated. Mrs. Hannah Stanhope, who caused the arrest of Enrico Caruso, the Metropolitan opera house tenor. on charge of annoying her in the Central Park monkey house in New York last year, last week was fined 1 cent for intoxication and disorderly conduct. B. S. McCullic, cashier or the defunct Princeton (lowa) Savings bank, was arrested on the charge of making false entries in the bank's books. The bank was closed recently on order of the state auditor and a receiver placed in charge. A shortage of about $10,000 has been discovered. Four men blew open the vault of the Bank of Sulphur Springs at Sulphur Springs, Ark., and secured over $1,300 in cash. besides notes and other valuables. Officers reached the scene just in time to see four men mount their horses and ride westward. It is believed they have made good their esCape. Vice President Murphy stated that the managements of the Cincinnati, New Orleans & Texas Pacific railway and Alabama Great Southern railroad have determined to put into effect on March 1, 1908, a reduction of 10 per cent in the pay of the president, vice presidents and other general officials and employes receiving monthly salaries of $250 and over. M. W. Brest, night watchman at a paper mill at Kalamazoo, Mich., found a $500 diamond in the refuse from the rag cleaning room of the mill. Two diamonds had already been found in the paper mills within two months. Locked up in a freight car for two weeks, without food, a little fox terrier was rescued near Sterling, Iowa, by trainmen who chanced to enter the car. The dog's ribs nearly protruded from its little body and it was too feeble to rise. The car in which the animal was imprisoned came from the steel mills of Pennsylyania,


Article from Audubon County Journal, April 30, 1908

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Article Text

Cashier Fights Indictment. Davenport.-B. S. McCully, cashier of the Princeton, Ia., Savings bank which recently went into the hands of a receiver, will make a fight against the five indictments returned against him for making false entries in the bank's books. He pleaded not guilty and Dr. John Knox and C. W. Pinneo, prominent residents of Princeton, furnished his $2,000 bond.


Article from Iowa State Bystander, May 1, 1908

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Article Text

Cashier Fights Indictment. Davenport.-B. S. McCully, cashier of the Princeton, Ia., Savings bank which recently went into the hands of a receiver, will make a fight against the five indictments returned against him for making false entries in the bank's books. He pleaded not guilty and Dr. Jehn Knox and C. W. of Pinneo, prominent residents Princeton, furnished his $2,000 bond.