5727. Hagerstown Commercial Bank (Hagerstown, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 3, 1905
Location
Hagerstown, Indiana (39.911, -85.162)

Metadata

Model
gpt-5-mini
Short Digest
2942dfe7

Response Measures

None

Description

Cashier Bowman committed suicide in early July 1905 and was revealed to be a large defaulter (~$100–109k). A receiver (J. A. Speckenhier / Spellenheimer) was appointed and liabilities/assets reported, indicating the bank was placed in receivership/closed. No article mentions a depositor run; cause is bank-specific defalcation.

Events (2)

1. July 3, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier Bowman's suicide revealed he was a large defaulter (~$100–109,000), undermining the bank's solvency and leading to suspension.
Newspaper Excerpt
Cashier Bowman of the Hagerstown Commercial bank, who committed suicide July 3, was a defaulter to the extent of at least $109,000.
Source
newspapers
2. July 8, 1905 Receivership
Newspaper Excerpt
This amount may be increased when the muddled books and confused mass of papers have been thoroughly examined by Receiver J. A. Speckenhier. / Receiver Spellenheimer states that the liabilities of the Hagerstown Commercial Bank are $157,715 and assets $64,880. There are six hundred depositors. (Richmond, Ind., July 7-14 reports).
Source
newspapers

Newspaper Articles (7)

Article from Evening Star, July 9, 1905

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Article Text

# Suicide Was a Defaulter. INDIANAPOLIS, Ind., July 8.-A News special from Hagerstown, Ind., says: Cashier Bowman of the Hagerstown Commercial Bank, who committed suicide on July 13, was a defaulter to the extent of at least $100,000. This amount may be increased when the muddled books and confused mass of papers have been thoroughly examined by Receiver J. A. Speckenhier.


Article from Daily Kennebec Journal, July 10, 1905

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Article Text

# CONDENSED DISPATCHES. An Indianapolis News special from Hagerstown, Ind., says: Cashier Bowman of the Hagerstown Commercial Bank, who committed suicide, July 3, was a defaulter to the extent of at least $109,000. This amount may be increased when the muddled books and confused mass of papers have been thoroughly examined by Receiver J. A. Spekenhier. The C. P. Kerans leather manufactory on Liberty street, Danversport, Mass., was destroyed by fire, Saturday afternoon, together with substantially all the contents. The loss is estimated at $100,000; the insurance is $76,000. The five wooden buildings of various dimensions were owned by the C. P. Kerans estate and Timothy J. Lynch. Mr. Lynch was manager of the business. The firm employed about 100 hands and the factory was running full time, having recently received heavy orders, though it had been shut down for the day when the fire occurred.


Article from The Bemidji Daily Pioneer, July 10, 1905

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Article Text

SUICIDE A DEFAULTER. Cashier of Indiana Bank Short Over $100,000. Hagerstown, Ind., July 10.-Cashier Bowman of the Hagerstown Commercial bank, who committed suicide July 3, was a defaulter to the extent of at least $109,000. This amount may be increased when the muddled books and confused mass of papers have been thoroughly examined by Receiver J. A. Spekenhier.


Article from The Bemidji Daily Pioneer, July 13, 1905

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Article Text

SUICIDE A DEFAULTER. Cashier of Indiana Bank Short Over $100,000. Hagerstown, Ind., July i...Cashier Bowman of the Hagerstown Commercial bank, who committed suicide July 3, was a defaulter to the extent of at least $109,000. This amount may be increased when the muddled books and confused mass of papers have been thoroughly examined by Receiver J. A. Spekenhier.


Article from Courier Democrat, July 13, 1905

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Article Text

SUICIDE A DEFAULTER. Oachier of Indiana Bank Short Over $100,000. Hagerstown, Ind., July 8.-Cashier Bowman of the Hagerstown Commercial bank, who committed suicide July 3, was a defaulter to the extent of at least $109,000. This amount may be increased when the muddled books and confused mass of papers have been thoroughly examined by Receiver J. A. Spekenhier.


Article from The Clarksburg Telegram, July 14, 1905

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Article Text

Bank Figures By Associated Press. Richmond, Ind., July 7-Receiver Spellenheimer states that the liabilities of the Hagerstown Commercial Bank are $157,715 and assets $64,880. There are six hundred depositors.


Article from East Oregonian : E.O, July 27, 1905

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Article Text

GENERAL NEWS. The Southern Textile company, capitalized at $14,000,000, has failed. It operated 12 valuable cotton mills in southern states. The total acreage of cotton planted in the United States this year was 26,999,000 acres, which is 85.1 per cent of the acreage of last year. The cashier of the Hagerstown, Ind., Commercial bank, has suicided, and the affairs of the bank are being investigated by the grand jury. Charles Long, a negro accused of the murder of Mathew Cunningham, a white man, has been run down and surrounded in a swamp near Trenton, N. J. W. J. McDonald, a Long Island railway flagman, deliberately sacrificed his life to save that of a woman and her baby who were about to be run down by a train. A ship laden with samples of American manufactures of all kinds will leave New York for a tour of the world. It will carry interpreters of all modern languages. P. J. Potter's Sons, private bankers of Bowling Green, Ky., have failed with liabilities amounting to over $1,000,000. The face value of the assets is about $1,000,000. Attorney General Rodgers, of Arkansas, has brought suit against the International Harvester company for penalties amounting to $600,000 for alleged infringement of the Arkansas anti-trust law. Secretary Taft reiterates the opinion that unqualified free trade should be established with the Philippines immediately upon the expiration of the present treaty with Spain, which will be in 1907. Eight prominent women of Industry, Kan., completely wrecked John Peterson's "joint" or illicit saloon. Peterson left town immediately. No arrests, as the women have the backing of the entire respectable element.