First National Bank - Tipton, IA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 2983
Charter Number: 2983
Start Date: July 23, 1909
Location: Tipton, Iowa (41.770, -91.128)

Metadata

Model: gpt-5-mini
Short Digest: 29ea5d7a

Response Measures

None

Description

Article (Aug 5, 1909) describes an examiner's report revealing a large shortage and mentions 'Marker's flight' and missing funds. It states trustees agreed the bank would reopen — implies a suspension related to the discovered shortage (no run reported). I set the suspension date to the night the vault balance was noted (1909-07-23) referenced in the article.

Events (4)

1. June 20, 1883 Chartered

Source: historical_nic

2. June 2, 1903 Voluntary Liquidation

Source: historical_nic

3. July 23, 1909 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Examiner found a $130,000 shortage; $60,000–$70,000 disappeared on the night of Marker's flight (embezzlement/flight of employee).
Newspaper Excerpt: The report will show definitely ... what sum was or ought to have been in the vault on Saturday night of July 23
Source: newspapers

4. August 5, 1909 Other

Newspaper Excerpt: The township trustees ... met ... and went over the situation today. It was agreed that the bank would reopen and that it would be unwise to begin actions for recovery of the funds.
Source: newspapers

Newspaper Articles (1)

1. August 5, 1909 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, August 5, 1909

Click image to open full size in new tab

Article Text

TIPTON BANK SHORT $130,000. President and Examiner Confer, But Fail to Solve Mystery. Tipton, Aug. 5.-President Shirk of the First National bank of this city. whose home is in Peru, Ind., reached here and went over the report that Examiner Weir is preparing for the department at Washington. Neither he nor the examiner would give out anything in respect to the report, but it Is understood from other reliable sources that Marker's shortage, If the bad debts are considered, will run close to $130,000. The one mystery of the case now is the missing $60,000 or $70,000 that disappeared on the night of Marker's flight, and It is said that the examination does not throw any light on the subject. The report will show definitely, however, just what sum was or ought to have been in the vault on Saturday night of July 23, and when the report is made public it will be known exactly with what sum Marker is to be charged with having taken. The township trustees, all of whom have their deposits with the First National bank, met here with the county officers, whose county funds are simllarly tied up, and went over the situation today. It was agreed that the bank would reopen and that it would be unwise to begin actions for recovery of the funds.