Yankton Savings Bank (Yankton, SD)

Episode Information

Episode UID
7156605891199
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
savings
Bank ID
715660589 hash
Start Date
November 20, 1899
Location
Yankton, South Dakota (42.871, -97.397)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bc335880ed6e173c

Response Measures

None

Description

Articles show treasurer's defalcation precipitated run; name spelling appears as Peterson/Pederson in sources.

Events (4)

1. November 20, 1899 Run
Cause
Bank Specific Adverse Info
Cause Details
Defalcation/embezzlement by County Treasurer A. W. Peterson (heavy depositor) sparked depositor withdrawals.
Newspaper Excerpt
the defalcation of Treasurer Peterson ... precipitated a run which has been in progress a day and a half.
Source
newspapers
2. November 22, 1899 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed after sustained run triggered by treasurer's defalcation and resulting loss of depositor confidence.
Newspaper Excerpt
the Yankton Savings Bank closed its doors at 2 o'clock this afternoon.
Source
newspapers
3. November 29, 1899 Receivership
Newspaper Excerpt
E. G. Edgerton has been appointed receiver for the Yankton Savings bank which failed last week.
Source
newspapers
4. July 19, 1900 Other
Newspaper Excerpt
Receiver Edgerton ... has declared a 20 per cent payment.
Source
newspapers

Newspaper Articles (19)

Article from The San Francisco Call, November 23, 1899

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Yankton Bank Suspends. MINNEAPOLIS, Nov. 22.-A special from Yankton, S. D., to the Journal says that the Yankton Savings Bank closed its doors at 2 o'clock this afternoon. The defalcation of Treasurer Peterson, who was known to be a heavy depositor, precipitated a run which has been in progress a day and a half.


Article from The Seattle Post-Intelligencer, November 23, 1899

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Yankton Savings Bank Breaks. MINNEAPOLIS, Minn., Nov. 22-A special from Yankton, S. D., to the Journal says the Yankton Savings bank closed its doors at 2 o'clock this afternoon. The defalcation of Treasurer Peterson, who was known to be a heavy depositor, precipitated a run, which has been in progress a day and a half.


Article from The Anaconda Standard, November 23, 1899

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Closed Its Doors. Minneapolis. Nov. 22.-A special from Yankton, S. D., to the Journal says the Yankton Savings bank closed its doors at 2 o'clock this afternoon. The defalcation of Treasurer Peterson, who was known to be a heavy depositor, precipitated a run, which has been in progress a day and a half.


Article from The Record-Union, November 23, 1899

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Bank Failure in South Dakota. MINNEAPOLIS, Nov. 22.-A special from Yankton, S. D., to the "Journal" says that the Yankton Savings Bank closed its doors at 2 o'clock this afternoon. The defalcation of Treasurer Peterson, who was known to be a heavy depositor, precipitated a run, which has been in progress a day and a half.


Article from The Salt Lake Herald, November 23, 1899

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Bank Closes Its Doors. Minneapolis, Minn., Nov. 22.-A special from Yankton, S.D., to the Journal says the Yankton Savings bank closed its doors at 2 o'clock this afternoon. The defalcation of Treasurer Peterson, who was known to be a heavy depositor, precipitated a run which has been in progress a day and a half.


Article from The Morning Astorian, November 23, 1899

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BANK CLOSED. MINNEAPOLIS, Minn., Nov. 22-A special from Yankton, South Dakota, to the Journal says the Yankton Savings bank closed its doors this afternoon. The defalcation of treasurer Peterson, who was known to be a very heavy depositor. caused a run which has been in progress a day and a half.


Article from The Madison Daily Leader, November 24, 1899

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BROKE THE BANK. Defalcation of County Treasurer Peterson at Yankton Starts a Run. YANKTON, S.D., Nov. 24.-The defalcation and disappearance of County Treasurer A. W. Peterson has caused considerable excitement in this city in the last few days. The board of county commissioners has been engaged examining his books and accounts and they found a shortage of $14,000, with $8,000 deposited in the Yankton Savings bank. This they endeavored to draw out, but their request was refused on the ground that Treasurer Peterson or some duly appointed treasurer should sign checks. This cannot be done now, as the bank was forced to close its doors after withstanding a three days' run. Suit will at once be instituted by the commissioners against Peterson and his bondsmen to recover a total shortage of $22,000. As the savings bank was the chief depository for the treasurer's office wild rumors gained circulation stating the treasurer's defalcation had weakened the bank and the run was the result.


Article from Willmar Tribune, November 29, 1899

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In his march north from Tarlac Gen. MacArthur has made rapid progress and Gen. Otis reports that MacArthur is in Dagupan. This rapid movement indicates to the war department officials that the insurrection is broken as an organization, and that the rainy season has been the real obstruction to Gen. Otis and his army in the Philippines. The reports of recent serious fighting about Ladysmith are generally discredited. The British are actively preparing for the hard march north and the Boers meantime are continuing their invasion of Cape Colony. There was prospect of a native uprising in Cape Colony in sympathy with the Boers. In a letter Gen. Joseph Wheeler says that he will not return to congress and also says a firm declaration by congress will end the war in the Philippines. Emperor William and the empress of Germany and their party arrived at Windsor and Queen Victoria warmly .welcomed her grandson. The fear of being caught in Boer traps is causing the British to move with great caution. Boers seem to be very numerous on every side, but according to recent dispatches there has been no battle of any consequence! It is believed the British are about to move northward in three divisions. Reports were brought by the gunboat Helena, which arrived in Manila with the crew of the cruiser Charleston, that when off Lingayan gulf she saw the battleship Oregon, which signaled that Gens. Wheaton, Young and Lawton had joined forces. Aguinaldo, with 12 officials. had escaped northward via Santo Tomas, a town on the northeast coast of Lingayan gulf. A troop of cavalry was hot pursuit. LATER NEWS. The general opinion in Manila is that Aguinaldo's army will never again come together in any considerable force with him in command. The forces under Gen. Lawton and Gen. Young are following so rapidly on his heels into Bayombong that no insurgent capital can again be established. West Lawrence, a negro who assaulted Mrs. W. Bowman, was lynched by a mob in Escambia county, Fla. In a train collision on the Baltimore & Ohio road near McCool, Ind., Engineer Henry Bradford was killed and seven other persons were injured. During the deer hunting season just ended in the Adirondacks 23 persons were accidentally killed by hunters. Martin V. Bergen, son of Councilman Peter v. Bergen, of Princeton, N. J., died from receiving a hazing at Lawrenceville college. Miss Eliza Works died at Henrietta, N. Y., aged 105 years 10 months and 13 days. With assets amounting to $30,000 and liabilities $20,000, the Yankton (S. D.) savings bank was forced to close its doors after a three days' run. The village of Magazine, Ark., was destroyed by a tornado. The Mexican government ordered the national flag to be hoisted at half mast over all public buildings as a token of condolence with the United States for the death of Vice President Hobart. The First Tennessee regiment was mustered out of the service at San Francisco. Thousands of acres of valuable farming lands were under water near Denison, Tex., and families were fleeing for their lives from bottom lands. All the large streams in the southern portion of Indian territory were out of their banks and enormous damage has been done to farming lands. Ten persons were caught in an ice jam and drowned in the upper Yukon river in Alaska. Dr. Daniel McMurtrie, medical director in the navy, retired, died at Washington, aged 63 years. With a considerable army of Boers marching upon Pietermaritzburg, interest now centers in the Natal capital. Reports of an engament at Mooi river show the British on the defensive, but no serious damage on either side. The Boers now have 17,000 British in besieged towns. An official statement from Pretoria places the total casualties of the Boers during the war as killed, 90; wounded 200


Article from Eagle River Review, November 30, 1899

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Bank Succumbs to a Run. With assets amounting to $30,000 and liabilities $20,000, the Yankton, S. D Savings Bang was forced to close its doors after a three days' run occasioned by the defalcation of County Treasurer A. Peterson, who was known to deal extensively with that bank.


Article from The Representative, November 30, 1899

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And Here's Another. YANKTON, S. D., Nov. 27.-Excitement runs high as a result of the defalcation of County Treasurer Petterson and the failure of the Yankton Savings Bank. The county commissioners examined the treas-


Article from Abilene Weekly Reflector, November 30, 1899

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A Savings Bank Closes Its Doors. Minneapolis, Minn., Nov. 23.-A special from Yankton, S. D., to the Journal says that the Yankton savings bank closed its doors at two o'clock yesterday afternoon. The defalcation of Treasurer Peterson, who was known to be a heavy depositor, precipitated a run which has been in progress a day and a half. There is some prospect that the institution will be able to resume.


Article from The Billings Gazette, December 1, 1899

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FINANCE AND TRADE. The Building and Loan Association of Dakota, located at Aberdeen, is in a receiver's hands. The Yankton (S. D.) Savings bank has closed on account of the defalcation of the county treasurer. It is estimated that the total ore shipments for the season from Minnesota ranges will amount to fully 8,000,000 tons. Ex-President Carter of the Chicago board of trade. told the industrial commission that the proposed ship canal from the Great Lakes to the Gulf of Mexico is feasible. A receiver has been appointed for the defunct Franklin Syndicate bank in New York, the missing Miller's institution. Other concerns of the same sort are being investigated. Commissioner of Agriculture and La. bor Thomas states that there were 600,000 acres in flax in North Dakota this year with an average of 12 bushels per acre. This means $8,000,000 to the farmers of this state for flax alone. An official report received by the German government acknowledges the excellent system of the American official trichinae inspection as carried out in Chicago and elsewhere and declares that the Agrarian charges as to the unreliability of the inspection are not borne out by the facts.


Article from The Black Hills Union, December 1, 1899

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Yankton county went republican, if we remember correctly. Now the treasurer of that county has "gone republican," too, and the county is now just $30,000 shy. The defalcation caused a run on the Yankton Savings Bank and busted the institution. Everything seems to be strongly republican over that way.


Article from The Kimball Graphic, December 2, 1899

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Yankton Bank Receiver Appointed Yankton, S. D., Nov. 29.-E. G. Edgerton has been appointed receiver for the Yankton Savings bank which failed last week. The probabilities are that the bank will pay all liabilities in full. The county commissioners have offered $200 reward for the apprehension of A. W. Petterson, defaulting treasurer. No trace of him bas yet been found.


Article from The Saint Paul Globe, December 2, 1899

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SOUTH DAKOTA. Britton: South Dakota is enjoying a season of unrivaled weather. The temperature is mild. ranging up to 60 degrees at noon, the sun cloudless and the air clear and balmy. Some plowing is still in progress. Tyndall: Peter Engberg. one of the old settlers in this part of the state, committed suicide Saturday night by hanging himself in his room. Yankton: E. G. Edgerton has been appointed receiver for the Yankton savings bank. The probabilities are the bank will pay all liabilities in full. Flandreau: The total amount of mail shipped from the Flandreau postoffice during the month of October was 2,692 pounds. Yankton: Jack Keating has broken the record for corn husking. He husked and put into the crib 2,220 bushels of corn for Edward Gleason, and he averaged 80 bushels per day.


Article from Morris Tribune, December 2, 1899

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FINANCE AND TRADE. The Building and Loan Association of Dakota, located at Aberdeen, is in a re. ceiver's hands. The Yankton (S. D.) Savings bank has closed on account of the defalcation of the county treasurer. It is estimated that the total ore shipments for the season from Minnesota ranges will amount to fully 8,000,000 tons. Ex-President Carter of the Chicago board of trade, told the industrial commission that the proposed ship canal from the Great Lakes to the Gulf of Mexico is feasible. A receiver has been appointed for the defunct Franklin Syndicate bank in New York, the missing Miller's institution. Other concerns of the same sort are being investigated. Commissioner of Agriculture and La bor Thomas states that there were 600,000 acres in flax in North Dakota this year with an average of 12 bushels per acre. This means $8,000,000 to the farmers of this state for flax alone. An officia report received by the German government acknowledges the excellent system of the American official trichinae inspection as carried out in Chicago and elsewhere and declares that the Agrarian charges as to the unreliability of the inspection are not borne out by the facts.


Article from The Sun, December 24, 1899

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DEFAULTER COMMITS SUICIDE. A. W. Peterson of Yankton. S. D., Jumps From a Ferryboat at St. Louis. Sr. LOUIS, Dec. 23.-The body of A. W. Peterson of Yankton. S. D., is at the morgue. He jumped from the ferryboat Alonzo Church while crossing the Mississippi this morning. A dispatch from Yankton states that Peterson was an embezzler and had fled from that city on Nov. 16. which would furnish an incentive for suicide. He was observed by deckhands to make the plunge. As soon as the body reappeared it was grappled and dragged ashore. but life was extinct. From papers in his pockets he was easily identified. The theory advanced by the police is that Peterson dreaded arrest and determined to kill himself. SIOUX CITY, Iowa, Dec. 23.-A. W. Peterson. the Treasurer of Yankton county. S. D., was short $15,000 in his accounts as results of his defalcation. The Yankton Savings Bank was compelled to close its doors and is in a receiver's hands. Peterson gave a bill of sale of his harness business previous to leaving. He boarded the train, ostensibly for Gayville. S. D. without overcoat or satchel. but came to Sloux City and here all trace of him was lost. He leaves a wife and several children.


Article from Reporter and Farmer, July 19, 1900

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DAKOTA REPORTS. Compiler Tilton of Vermillion Adds to Their Value. Horace G. Tilton of Vermillion has brought out a second supplement to his index digest of the reported decisions of the supreme courts of Dakota Territory and of North and South Dakota, covering all opinions filed up to April 1, 1900. With this supplement he has included a table of all the cases digested in the series. and binds the original diegst and two supplements in one convenient volume of about 1,100 pages. Peter Honnenger of Romona met with a peculiar accident. He occasionally walks in his sleep, and, on the night in question got out of bed and must have made the movement with considerable force, for he went through a large glass and then ran some distance before he was noticed and finally caught by Robert Sullivan. He was still asleep when caught, though his ankle was 80 badly cut by the broken glass as to require several stitches. Receiver Edgerton, of the Yankton Savings Bank, which was wrecked last December by the defalcation of County Treasurer Pederson, has declared a 20 per cent payment. As all the real estate of the bank is still unsold, the defunct bank bids fair to make at least a 50 per cent payment to all creditors.


Article from The Pioneer Press, July 19, 1900

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DAKOTA REPORTS. Compiler Tilton of Vermillion Adds to Their Value. Horace G. Tilton of Vermillion has brought out a second supplement to his index digest of the reported decisions of the supreme courts of Dakota Territory and of North and South Dakota, covering all opinions filed up to April 1, 1900. With this supplement he has included a table of all the cases digested in the series, and binds the original diegst and two supplements in one convenient volume of about 1,100 pages. Peter Honnenger of Romona met with a peculiar accident. He occasionally walks in his sleep, and, on the night in question got out of bed and must have made the movement with considerable force, for he went through a large glass and then ran some distance before he was noticed and finally caught by Robert Sullivan. He was still asleep when caught. though his ankle was SO badly cut by the broken glass as to require several stitches. Receiver Edgerton, of the Yankton Savings Bank, which was wrecked last December by the defalcation of County Treasurer Pederson, has declared a 20 per cent payment. As all the real estate of the bank is still unsold, the defunct bank bids fair to make at least a 50 per cent payment to all creditors.