Bank of Gays (Gays, IL)

Episode Information

Episode UID
670869291327
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
67086929 hash
Start Date
July 19, 1910
Location
Gays, Illinois (39.458, -88.494)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cdc657fb9e3658bc

Response Measures

None

Description

Bank closed and receiver requested after an apparent $17–18k shortage and the president disappeared.

Events (2)
1. July 19, 1910 Receivership
Newspaper Excerpt
J. Jennings took charge of the Bank of Gays, a private institution, today and has an accountant examining the books which, it is said, show a shortage of $17,000. ... application has been made for a receiver.
Source
newspapers
2. July 19, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Accounting shortage of about $17,000–$18,000 discovered; head (T. D. Slater) missing.
Newspaper Excerpt
The Bank of Gays, a private institution, closed its doors yesterday and application has been made for a receiver.
Source
newspapers

Newspaper Articles (4)
1. July 19, 1910 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, July 19, 1910

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Article Text

BANK OWNER GONE Gays, Ill., Private Institution, Involved as Result of $17,000 Shortage. HUNT HEAD OF CONCERN Tipton, Mo., Cashier Arrested and Examiner Takes Charge-Utica Teller Speculated. Mattoon, Ill., July 19.-J. Jenning took charge of the Bank of Gays, a private institution, today and has an accountant examining the books which, it is said, show a shortage of $17,000. Head of Bank Gone. Mattoon, Ill., July 19.-The Bank of Gays, a private institution, closed its doors yesterday and application has been made for a receiver. T. D. Slater, the head of the concern, is missing and, according to a quick inventory of. the tangled accounts of Mrs. Elizabeth Jeffris, the cashier, there is a shortage of about $17,000. No warrant has been sworn out yet. Nothing definite can be ascertained of the real condition of the bank's finances until the receiver reports. ( Slater had been solely in charge and a had never published any account of $ the condition. A week ago he told his 8 cashier that he was going to Dwight, 1 Ill., and at night she discovered the I absence of $700 in currency from the 8 safe. It was learned he was not seen in Dwight. John M. Powers of Oakland, Ill., has , authorized the statement that he, as a 8 partner, will pay 100 cents on the dol1 lar. The assets and labilities cannot 1 be estimated, so tangled are the books. a The deposits recently dwindled to s $30,000, following town talk of Slater's personal habits. Cashier Arrested. 1 Tipton, Mo., July 19.-The Bank of Tipton has been closed and placed in the hands of State Bank Examiner Swanger. The deposits amount to 1 $35,000. The bank was established in € 1873 and is one of the oldest in the ( state. A. T. Adams, acting cashier, 1 was arrested last week on a charge of grand larceny. 1 Stole for Six Years. Utica, N. Y., July 19.-J. Howard Lowery, arrested yesterday at Phila1 delphia, disappeared from Utica April 1 27 last. He was the noteiteller in the ( Utica City National bank, where he had been employed for a long time and was implicitly trusted. While the bank examiner was going over the books Lowery went into another room and thence from the bank, carrying with him about $4,000. Lowery's shortage was more than $100,000 and his alleged stealings are said to have been going on for six years. He lost most of the money, it ( is believed, in the stock market. +

2. July 20, 1910 The Prescott Daily News Prescott, AR
Article from The Prescott Daily News, July 20, 1910

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Article Text

BANKER'S WIFE COLLAPSES No Trace Found of Financier Who Disappeared From Gays, Illinois. Mattoon, Ill., July 20.-Following the closing of the doors of the Bank of Gays, a private institution at Gays, six miles from this city, it is believed that the shortage will reach in excess of $18,000. President T. D. Slater, who disappeared July 11, has not been heard from, although he gave it out to relatives when he left that he was going to Dwight, Ill. He has not been at that place. Slater had made frequent trips to Chicago, St. Louis and Indianapolis. He has a wife, who is prostrated. J. C. Slater of Oakland, his father, and L. A. Slater, connected with a bank at Palestine, Ill., were supposed to have been partners in the bank of Gays, but they assert they were ot. John E. Jennings of Sullivan has been named as receiver.

3. July 21, 1910 The Fargo Forum and Daily Republican Fargo, ND
Article from The Fargo Forum and Daily Republican, July 21, 1910

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Article Text

BANKER MISSING; $17,000 IS GONE PRIVATE INSTITUTION AS GAYS, ILL., CLOSED AND RECEIVER IS ASKED - PARTNER PLEDGES PAYMENT. Mattoon, III., July 21.-The Bank of Gays, a private institution, closed its doors this morning and application has been made for a rece:ver. T. D. Slater, the head of the concern, is missing and, acccording to a quick inventory of the tangled accounts by Mrs. Elizabeth Jeffries, the cashier, there is a shortage of about $17,000. No warrant has been sworn out yet. Nothing definite can be ascertained of the real condition of the bank's finances until the receiver reports. Slater had been solely in charge and had never published any account of the condition. A week ago today he told his cashier that he was going to Dwight and at night she discovered the absence of $700 in currency from the safe. It was learned he was not seen in Dwight. John M. Powers of Oakland, III., has authorized the statement that he, as a partner, will pay 100 cents on the dollar. The assets and liabilities cannot be estimated, so tangled are the books. The deposits recently dwindled to $30,000, following town talk of Slater's personal habits.

4. July 22, 1910 The Forrest City Times Forrest City, AR
Article from The Forrest City Times, July 22, 1910

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Article Text

BANKER'S WIFE COLLAPSES No Trace Found of Financier Who Disappeared From Gays, Illinois. Mattoon, Illinois.-Following the closing of the doors of the Bank of Gays, a private institution at Gays, six miles from this city, it is believed that the shortage will reach in excess of $18,000. President T. D. Slater, who disappeared July 11, has not been heard from, although he gave it out to relatives when he left that he was going to Dwight, Ill. He has not been at that place. Slater had made frequent trips to Chicago, St. Louis and Indianapolis. He has a wife, who is prostrated. J. C. Slater of Oakland, his father, and L. A. Slater, connected with a bank at Palestine, Ill., were supposed to have been partners in the bank of Gays, but they assert they were ot. John E. Jennings of Sullivan has been named as receiver.