6049. First National Bank (Mount Hope, KS)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
5559
Charter Number
5559
Start Date
September 7, 1904
Location
Mount Hope, Kansas (37.869, -97.665)

Metadata

Model
gpt-5-mini
Short Digest
5cf8d9f10e2e4f72

Response Measures

Capital injected

Description

Cashier R. E. Pierce's bookkeeping showed a shortage (~$7,000). Directors covered the loss and stopped a slight run; no suspension or closure reported.

Events (2)

1. August 27, 1900 Chartered
Source
historical_nic
2. September 7, 1904 Run
Cause
Bank Specific Adverse Info
Cause Details
Shortage/defalcation by cashier R. E. Pierce (about $7,000) discovered during his absence; irregularities in his books.
Measures
Directors made good the loss (assessed to cover shortage); stoppered the run
Newspaper Excerpt
The books ... are said to show a shortage of about $7,000. ... The directors met Wednesday and made good the loss to the bank. A run on the bank has been stopped.
Source
newspapers

Newspaper Articles (2)

Article from The Topeka State Journal, September 8, 1904

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Article Text

KANSAS NEWS. The Books of a Sedgwick County Bank Show a Shortage. Cashier R. E. Pierce of Mount Hope Is Absent. ABOUT $7,000 MISSING. Directors Meet and Make Up Shortage by Assessment. Slight Run on the Institution Is Promptly Checked. Wichita, Sept. 8.-The books of R. E. Pierce, cashier of the First National bank of Mount Hope, this county, are said to show a shortage of about $7,000. Mr. Pierce went to St. Louis a week ago to attend the World's fair. After he left the examination of the books was made and the irregularities found, it is asserted. The directors met Wednesday and made good the loss to the bank. Pierce's friends say he will return. A run on the bank has been stopped. Friends of Pierce declare that he will return and fix up the affair. They attribute his trouble to high living and assert that it was the result of carelessness rather than of any intention to take the funds of the bank. Pierce was a leader in county and town affairs and three years ago was candidate for county commissioner. He is about 38 years old and has a wife and three children. He has been cashier of the bank since it was opened three years ago. So far, according to the president, no attempt has been made to apprehend Pierce. The matter has been placed in the hands of local detectives. His friends believe that the fact that he left his youngest child, a baby, when he went away, is proof of his intention to return.


Article from The San Francisco Call, September 8, 1904

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Article Text

SHORTAGE DISCOVERED WHEN CASHIER TAKES VACATION Directors of Kansas Bank Stop a Run by Making Up Amount of Official's Defalcation. WICHITA, Kans., Sept. 7.-R. E. Pierce, cashier of the First National Bank of Mount Hope, is said to be short in his accounts about $7000. He left a week ago to attend the World's Fair and the shortage was discovered by an examination of his books. The directors met to-day and made good the loss to the bank. Pierce's friends say he will return. A run on the bank has been stopped.