3934. Elk City Bank (Elk City, ID)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 1, 1912*
Location
Elk City, Idaho (45.827, -115.437)

Metadata

Model
gpt-5-mini
Short Digest
5cfc935e

Response Measures

Full suspension, Books examined

Other: Receiver to be named; examiner reported likely ability to pay depositors dollar for dollar.

Description

Articles (Feb 1912) report a rush of depositors to withdraw funds to purchase saloon licenses after a 'wet' election, which drained and forced the Elk City State Bank to close; examiner appointed a receiver and expected to pay depositors. Sequence: depositor scramble (run) → bank closed/suspended → receiver appointed (closure).

Events (3)

1. February 1, 1912* Run
Cause
Local Shock
Cause Details
A county 'wet' vote prompted many depositors to withdraw funds to buy saloon licenses, causing heavy withdrawals that drained the bank.
Newspaper Excerpt
Because Idaho county voted to adopt a wet policy ... there was a wild scramble by depositors to obtain their money from the Elk City State bank ... draining and breaking that bank.
Source
newspapers
2. February 1, 1912* Suspension
Cause Details
Bank examiner ordered the institution closed after it was drained by heavy withdrawals; receiver expected to be named.
Newspaper Excerpt
State Bank Examiner V. W. Platt ordered the institution closed ... Both may be able to resume business when the bank examiner has completed his investigation.
Source
newspapers
3. February 8, 1912 Receivership
Newspaper Excerpt
Will Pay Out. Bank Examiner Platt of Boise ... examining the affairs of the Elk City bank which was recently forced to close its doors. Mr. Platt states that the conditions of the bank are such that it looks as though the receiver would be able to pay the depositors dollar for dollar. ... he would name the receiver in a few days. (Idaho County Free Press, 1912-02-08).
Source
newspapers

Newspaper Articles (6)

Article from Idaho County Free Press, February 8, 1912

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Article Text

Will Pay Out. Bank Examiner Platt of Boise, passed through Grangeville the last of the week on his way out from Elk where he had been examining the affairs of the Elk City bank which was recently forced to close its doors. Mr. Platt states that the conditions of the bank are such that it looks as though the receiver would be able to pay the depositors dollar for dollar. Just who will take charge of the bank has not as yet been decided but Mr. Platt stated he would name the receiver in a few days.


Article from The Salt Lake Tribune, February 14, 1912

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Article Text

BANK FAILS BECAUSE COUNTY VOTES WET So Many Scramble to Get Money for Licenses That Deposits Quickly Dwindle, Special to The Tribune, BOISE. Idaho, Feb. 13.-Because Idaho county voted to adopt a "wet" policy and have the licensed saloon, there was a wild scramble by depositors to obtain their money from the Elk City State bank to buy saloon licenses. draining and breaking that bank. State Bank Examiner V. W. Platt ordered the institution closed and later issued an order closing the Kendrick State bank. in Kendrick, Idaho. Both may be able to resume business when the bank examiner has completed his Investigation. The Kendrick bank carried the personal notes of the officers and directors amounting to $25,000. The suspension of the Kendrick State bank came as a surprise. When the examiner closed its doors that banking house had assets of approximately $165,500, while the liabilities. exclusive of the capital stock of $25,000, were $137.000. The deposits subject to check amounted to about $90,000; certificates of deposit. $15,000: cashier's checks. $12,000; cash and exchange item. $20,000: bank building and fixtures. $10,500: other real estate. $5500. The remainder was made up of loans and discounts. Every effort was made to save the institution from going to the wall. but the necessary money to increase the legal reserve could not be secured.


Article from The Rathdrum Tribune, February 16, 1912

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Article Text

trip of that official to the north central part of the state. The Elk City bank was closed about two weeks ago and the Kendrick institution, known as the State Bank of Kendrick, suspended business Feb. 1. Trouble over a piece of land resulted in the shooting and killing of Isaac A. Coplen, postmaster at Lake Point, 17 miles from Coeur d'Alene, by William Fondren last Tuesday afternoon. Fondren is under arrest at Coeur d'Alene. Coplen is said to have filed a contest against Fondren's bomestead. William Whiting, aged 20, was knifed to death Saturday night at Harrison, and Everett Black, aged 18, was sought by the officers on the charge of committing the crime. Black was found at his home several miles from Harrison and taken to Coeur d'Alene. He is a farm boy and it is claimed Whiting and others in Harrison had been in the habit of persecuting him when he went to town. Assessors of all the new counties that were created by the Eleventh session of the legislature, Lewis, Adams, Clearwater and Bonneville, predict bright futures for them, and declare that the legislature made DO mistakes in creating them. Although in some of the counties taxes have been a little higher than previously, most of their assessors believe the people have paid little more than they would have done in any event, and that the assessments for this year will be at least as low, if not lower than they were before the creation of the new counties. George S. Loudon, the postmaster of Elk River in Clearwater county, who was recently convicted of embezzling almost $5000 of the government's money while in that capacity, was last week sentenced by United States District Judge Frank S. Dietrich at Boise to serve 18 months in the federal penitentiary at Fort Leavenworth, Kan., and to pay a fine of $4582.83 and the costs of the case. An earnest plea was made to the court by his attorney for clemency on the part of the court and he cited the extreme youth of the prisoner and the extravagance of his wife in the niatter of fine clothes as grounds for asking the favor of the court. Judge Dietrich did not think well of the past record of the prisoner and accordingly imposed the sentence, to estop postmasters from pilfering in the future.


Article from Lincoln County Times, February 22, 1912

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Article Text

IDAHO JEROME IDAHO STATE NEWS Addison T. Smith, private secretary to Senator Heyburn, will, it is said be a candidate for congress. John Morgan, who shot and seri ously wounded Patrolman Alfred Hunt at Boise, has been bound over to the district court for trial. Dr. Frank T. Cary of Gooding, con victed of illegally selling liquor, has been fined $500 and sentenced tc three months in the county jail. Arthur T. Engh, operator for the Oregon Short Line at Buhl, died at a Salt Lake hospital last week from appendicitis. Engh was 30 years of age. A straw vote taken at the Lincolr banquet at Boise showed that 164 ol those present were for Taft; 58 for Roosevelt, and 8 La Follette supporters. With the voting of $60,000 in bonds for a high school building fund in Gooding the question of the location of the structure is the next important consideration. Idaho will be largely represented at the annual convention of Elks at Portland this coming June. North Idaho is making great preparations tc participate in the festivities. Willie Whiting, aged 20 years, was stabbed to death at Harrison. The sheriff's office is searching for Everett Black, aged 18 years, who lives on Half Round bay, lake Coeur d'Alene J. U. McPherson, the state horti culturist, has returned from the south eastern part of the state where he has been holding some very enthusiastic schools for the agricultural and horticultural devotees of that section. Sheepmen in the vicinity of Idaho Falls are jubilant over the outlook for this year. They believe that con ditions are such that 1912 will prove the best year that wool growers in Idaho have had in their business for some time. Railroad rumors are to the effect that the Oregon Short Line Railroad company will begin active operations on their new extension from Elva up through Fremont county not later than June, at which time grading will be started. Self-confessed yeggmen, George and Harry Lester, brotehrs, pleaded guilty at Boise to the charge of dynamiting and robbing the safe in the postoffice at Kimberly, Ida., and were sentenced to serve terms in the federal prison at Fort Leavenworth. While under the influence of toc much liquor, George Hutton, employed in Boise, believed himself the murderer of Governor Steunenberg. He asked repeatedly if the officers who had arrested him "wanted him to kill another Steunenberg." Boise was captured by storm when 200 members of the Associated Boys' clubs of Idaho and eastern Oregon gathered there for their annual ses sion last Friday, Saturday and Sunday. Representatives from almost every town in the district were pres ent. The Twin Falls County School Trustees' association will convene in Twin Falls for a two days' session February 19-20. The gathering will be an important one and many prominent educators from over the state will give addresses on various pedagogical subjects. Reports from Jarbidge state that the big camp is disgusted with their mail service since it was changed from Buhl to Deeth, Nev., and that the mail carriers are meeting with serious difficulty in transporting the mail over the mountain trails, owing to snowstorms. Because an unexpectedly large withdrawal of funds from the bank was made by depositors who wished to purchase liquor licenses, following the recent wet election in Idaho county, is the reason ascribed for the closing of the Elk City bank, at Elk City, a short time ago. H. G. King, president of the First National bank of Salmon City, was arrested last week under an indictment, charging him on nine distinct counts with making false entries and falsifying his reports to the comptroller of the currency, which was returned by the federal grand jury. Carl O. Carlson, the Oregon Short Line fireman who was killed near Mountain Home, February 6, met his death through his own carelessness and not through any negligence or carelessness on the part of the railroad company, according to the board which investigated the accident. A daily average of forty-five carloads of hay were loaded on the Twin


Article from Montpelier Examiner, February 23, 1912

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Article Text

idaho STATE NEWS Addison T. Smith, private said, secretary to Senator Heyburn, will, it is be candidate for congress. a Morgan, who shot and seri- Alfred John wounded Patrolman over Hunt busly at Boise, has been trial. bound a to the district court for Frank T. Cary of Gooding, con- has Dr. of illegally selling liquor, to victed fined $500 and sentenced been three months in the county jail. T. Engh, operator for died the at Arthur Short Line at Buhl, from Oregon Lake hospital last week of p. a Salt appendicitis. Engh was 30 years q age. vote taken at the 164 Lincoln of of A straw at Boise showed that 58 for banquet present were for Taft; supthose Roosevelt, and 8 La Follette IC porters. the voting of $60,000 in in bonds 10 With high school building fund location for a Gooding the question of the important of the structure is the next will consideration. be largely represented at at Idaho annual convention of Elks North e the this coming June. to Idaho is Portland making great preparations participate in the festivities. Whiting, aged 20 years, The was Willie to death at Harrison. Everett p stabbed office is searching for on sheriff's aged 18 years, who lives d'Alene. Half Black, Round bay, lake Coeur hortiMcPherson, the state southJ. U. has returned from the he has culturist, part of the state where enthusiastic eastern holding some very hortibeen for the agricultural and schools cultural devotees of that section. in the vicinity of outlook Idaho Sheepmen jubilant over the conFalls are year They believe that prove up IIIM 1912 that 0.18 sign JO) ditions year that wool growers for the (daho best have had in their business some time. rumors are to the effect Railroad Railroad Oregon Short Line that the will begin Elva up operations company new extension from later on their Fremont county not will than through June, at which time grading be started. Self-confessed yeggmen, George guilty and Lester, brotehrs, pleaded dynamiting Harry to the charge of postoffice at Boise robbing the safe in the sentenced and Kimberly, Ida., and were prison 28 Jederal the up terms 01 1# Fort under the influence of employed too While liquor, George Hutton, murmuch believed himself the He in of Boise, Governor Steunenberg. who derer repeatedly if the officers kill had asked arrested him "wanted him to another Steunenberg. was captured by storm Boys' when Bodse members of the Associated Oregon $998 eastern pus 202 clubs of there for their and annual Sunday. every Representativestrict were THE ent. Twin Falls County in School The association will convene session eq 111M days, OM7 B 103 Palls Thustees, Twin 19 20. The gathering prominent February one and many will an important from over the state pedagogical give educators addresses on various subjects. from Jarbidge state that their Reports camp is disgusted with changed the big service since it was that the mail Buhl to Deeth, Nev., and serious from carriers are meeting with mail mail in transporting the owing to over the difficulty mountain trails, snowstorms. an unexpectedly bank large Because of funds from the wished made withdrawal by depositors who following was liquor licenses, counto purchase wet election in Idaho the closthe recent reason ascribed for Elk City, 17. ing is of the the Elk City bank, at a short time ago. King, president of the ar. First H. G. bank of Salmon City, was indictment, National last week under an counts rested him on nine distinct falsify. charging making false entries and of with reports to the comptroller by Ing his currency, which was returned the the O. federal grand Carlson, the jury. Oregon Short near Carl fireman who was killed his Line Home, February 6, met carelessness Mountain through his own or death through any negligence railand not on the part of the board company.according.com which a average of car- Twin A daily hay were loaded on the Short loads of branch of the Oregon being Falls last month The hay is United Line to all parts of the the New south Sujos эшов peddique ST States, England states and some as far Hughes, a committed well-known Roscoe of that section, of his roung man last week at the home himself suicide near Weiser, shooting business lister, head. Worry over to n the domestic affairs is believed and have caused the tragedy. S. Loudon, the county, postmaster George River in Clearwater of emof Elk recently convicted governwho was almost $5,000 of the capacity, bezzling money while in that eighteen ment's been sentenced to $+,has months' imprisonment and fined $82.83. banks in Idaho, one at other Elk at Two Idaho county, and the closed City, Latah county, were by order Kendrick, of State during Bank Commissioner


Article from The Blackfoot Optimist, February 26, 1912

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Article Text

Blackfoot Optimist Karl P. Brown. Publisher. IDAHO BLACKFOOT IDAHO STATE NEWS Addison T. Smith, private secretary to Senator Heyburn. will, it is said be a candidate for congress. John Morgan, who shot and seri ously wounded Patrolman Alfred Hunt at Boise, has been bound over to the district court for trial. Dr. Frank T. Cary of Gooding, con victed of illegally selling liquor, has been fined $500 and sentenced tc three months in the county jail. Arthur T. Engh, operator for the Oregon Short Line at Buhl, died at a Salt Lake hospital last week from appendicitis. Engh was 30 years of age. A straw vote taken at the Lincoln banquet at Boise showed that 164 of those present were for Taft; 58 for Roosevelt, and 8 La Follette supporters. With the voting of $60,000 in bonds for a high school building fund in Gooding the question of the location of the structure is the next important consideration. Idaho will be largely represented al the annual convention of Elks at Portland this coming June. North Idaho is making great preparations to participate in the festivities. Willie Whiting, aged 20 years, was stabbed to death at Harrison. The sheriff's office is searching for Everett Black, aged 18 years, who lives on Half Round bay, lake Coeur d'Alene J. U. McPherson, the state horti. culturist, has returned from the south eastern part of the state where he has been holding some very enthusiastic schools for the agricultural and horticultural devotees of that section. Sheepmen in the vicinity of Idaho Falls are jubilant over the outlook for this year. They believe that con ditions are such that 1912 will prove the best year that wool growers in Idaho have had in their business for some time. Railroad rumors are to the effect that the Oregon Short Line Railroad company will begin active operations on their new extension from Elva up through Fremont county not later than June, at which time grading will be started. Self-confessed yeggmen, George and Harry Lester, brotehrs, pleaded guilty at Boise to the charge of dynamiting and robbing the safe in the postoffice at Kimberly, Ida., and were sentenced to serve terms in the federal prison at Fort Leavenworth. While under the influence of too much liquor, George Hutton, employed In Boise, believed himself the murderer of Governor Steunenberg. He asked repeatedly if the officers who had arrested him "wanted him to kill another Steunenberg." Bolse was captured by storm when 200 members of the Associated Boys' clubs of Idaho and eastern Oregon gathered there for their annual ses sion last Friday, Saturday and Sunday. Representatives from almost every town in the district were present. The Twin Falls County School Trustees' association will convene in Twin Falls for a two days' session February 19-20. The gathering will be an important one and many prominent educators from over the state will give addresses on various pedagogical subjects. Reports from Jarbidge state that the big camp is disgusted with their mail service since it was changed from Buhl to Deeth, Nev., and that the mail-carriers are meeting with serious difficulty in transporting the mail over the mountain trails, owing to snowstorms. Because an unexpectedly large withdrawal of funds from the bank was made by depositors who wished to purchase liquor licenses, following the recent wet election in Idaho county, is the reason ascribed for the closing of the Elk City bank, at Elk City, a short time ago. H. G. King, president of the First National bank of Salmon City, was arrested last week under an indictment, charging him on nine distinct counts with making false entries and falsify ing his reports to the comptroller of the currency, which was returned by the federal grand jury. Carl O. Carlson, the Oregon Short Line fireman who was killed near Mountain Home, February 6, met his death through his own carelessness and not through any negligence or carelessness on the part of the railroad company, according to the board which investigated the accident. A daily average of forty-five carloads hay were loaded on the Twin Falls branch of the Oregon Short Line last month. The hay is being shipped to all parts of the United States, some going into the New England states and some as far south as Florida. Roscoe Hughes, a well-known young man of that section, committed suicide last week at the home of his sister near Weiser shooting himself