7359. Mechanics Bank (Baltimore, MD)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
March 1, 1867*
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
f7c2c3f415f02059

Response Measures

None

Description

Articles describe major embezzlement/defalcations by officers/tellers at the Mechanics Bank in Baltimore, discovery of missing funds, arrests, and the bank being 'closed'/'broke' as a consequence. No article explicitly describes a depositor run prior to suspension; the cause is bank-specific criminal malfeasance leading to failure/closure. OCR errors in Article 1 (garbled text) were corrected when extracting references to embezzlement, Wentz and Rogers, and closure. Exact suspension/closure date not specified in the excerpts; placed in March 1867 based on publication dates and context.

Events (2)

1. March 1, 1867* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large embezzlements/defalcations by bank officers/tellers (named Wentz and Rogers) discovered; missing funds on foreign accounts and false book entries; arrests and warrants issued. The scandal rendered the bank insolvent and it was closed/broke as a result.
Newspaper Excerpt
discovery of officers ... defalcations ... Mechanics Bank ... the bank was closed ... the sum of missing ... embezzlement
Source
newspapers
2. August 2, 1867 Other
Newspaper Excerpt
The Mechanics broke of defalcations ... of Baltimore, The Mechanics broke of defalcations, down from carried on the Bank effects for of a a long series time by two officers of the institution.
Source
newspapers

Newspaper Articles (2)

Article from The Manitowoc Pilot, March 15, 1867

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Article Text

BANK DEFAL EXTRAORDINARY ST StolThree Dollars Hundred Thousand en from Bank. Baltimore of how The account following Baltimore for the last has Bank been twentyswindled a to of the five and by pair years "ducks," of will one ined give $300,00 amount in are this country, managed March Baltimore and how how Banks rotten they are: American, and unsensa community the From the comparatively startled quiet on Saturday heavy This was discovery of officers a of the National and Mechanicating business tional last by rumors upon of the part Bank: of two well subsequent known community the too rumors proved well depositors in the peculiarly the founded for only the unfortunate comfort of institution be can learned, be to appear bank an concerned. The particulars, that so far Tuesday as inspector, last a United into Mr. investigation Mechanics of located Bank, and Calvert Callender, States commenced of the National east corner the Fayette the false day entries upon discovered the condition on the streets south and during books of the kept foreign accounts of Samuel charge foreign in which and are which was are known suspended in his work banks, 11. Wentz, who He upon his return false keeper. dinner, and his absence had and book went to that during of $210,000, all the business to to the the books, of ferret proceeded entries, discovered made. He amount immediately bank, closed stopled matter the This been of the out the was conthe all when malpractice t H. tinued traced a the paying of peculation over and evidence apparent until pointed SaturdaWentz to teller, as and the was criminals, John years. informed both Rogers, and this system period of of the sus spicions Wentz least back up. be of says Upon evidence being made against full them, confessionalized can system at he ever and and Rogers their statement this since The former been in progress period been of thirty disbeen has in though the bank nothing has years $200,000, back. beyond twenty-se stolen over at predicaHe though admits having somewhat finds worried himself, very grave seems bad of to and ment in which he to no have very and has think he has professes and figures, he made of the up. memory ten-e. He particulars to dates than to what it has use all having been $4, Buhegether, given no further acknowledges at one time by what the taken used $2,000 $6, 000 at another. definitely learned hold of are by and It has not money been but was the got deficiencies covered up by understand foreign the process guilty parties, to have to the been account is of Sufficient supposed amount charging The sum of missing. having Mr. banks. he about of the the guilt cashier of the of one the bank, of the diobtained, with Mr. Caughy, justice affidavit. rectors, made for their hands of into evidence to Cuieman, been and appeared the before the necessary policeman arrest, Hayward, custody which Irv and while procured have warrants placed in once the took them the mag istrate, who little to taken ing, were took here them had before but he entirely counsel, say, would by Wentz stated that he had in explanation. say surprise, Rogers and, remarks. advised counsel, him to and with the sum The until party to action required nothing like justice, each he the give the bail of president in the Rogers grand of $10,000 to await Warneher-in bondsman, law of but bank, who and became to procure jury, the of sent Michael being for unable his long bail, been was Wentz, to jail. parties having 1.0 the em last of these bank, and up of their forty- five Rogers, one of the of Turner of age, celebrated.case was about from ployers. week ployed Both enjoyed in the the convictment who confidence case is principal twenty wit and the in who with an is a at No. living in nearly institution. as 575 propriating of of but family was Birch, indicative the of emberry He resided and extravagant street. moderate style and his ill neatly nothing grain. with large a house of at No. 337 his and gotten rixty years, lived in furnished, nothing in to ekeptical led lifetime hand wou with a people. other as a a familiations, conduct West Lafayette that forghui have street, his the He lavish prominent he plain had the and regular scarcely ever been funds of and was of his at the bank. ousiness and man in of the teacher, the routine parties are very connected, respect of such member of Both their con- serand crime detection fall with crushing and character upon families respective friends. as is the one of The regarded robbery of time most length thiswhich untinued a ran series probably, longer


Article from The Wheeling Daily Register, August 2, 1867

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Article Text

AND TRADE. FINANCE Commercial and embraces Financial some list National The suspensions following and failures 1865: of of Newthe Banks since January, Bank Mass., March 2. failed The with National liabilities amountHudton, ing to $110,000. -The National embezzlement Bank of March N. Y., discovered the amount an of $50,000. weeks son, by the cashier revived aft to r reseveral business. The concern and resumed National Bank of Me- of Mo., dina. suspension, March t- First failed with liabilities National 982,000. March of Baltimore, The Mechanics broke of defalcations, down from carried on the Bank effects for of a a long series time by twoofficers of the institution. Weedsport doors, (Cayuga its July 25. National The Bank closed County) $125,000. liabilities being National Bank its of liabil- Unaities July Otsego 20:-The County, failed. dilla, being $125,000. The Pequonnock suspended National July of 27 Bridgeport, Conn., a reward of $500 business Bank and offered cashier, W. Hamilton $50,000, for the fugitive who absconded with Barnum, Commerce New York Journal of of domes says: The The during possibility the elections soon from to troubles has deterred many operators and is occur, commencing fresh engagements, the dematerial effect upon through having mand for a goods After to the distribute election, if we politi- may West. settled, The the cal affairs are revival more of business. the corn hope for some hat vested, and in the and rye alike rejoice have been sky. dryer wheat not yet Even atmosphere matured, potatoes beneath great prevalence the sunny small and hard, owing to A the few such summer's all the of wet will weather. work wonders as for essential to financial snos crops. and and good commercial crops are prosperity as good government. Commerce, said: in The a late Milwaukee article upon Journal the of legal tender question, know that the constitu- it is We do of not the legal tender act. fairly as and tionality will ever be brought Court. We called. the Supreme of squarely have no wish before unsettle to see all it the done relations at present, to so as to and creditors as now adjusted sake of currency: but, for the we the paper as a its some time. hope that at have been debtors importance precedent, perhaps that restimed, august after do it specie payments before We will be brought solemn decision. tribunal for if this is done after Court believe that subsided, the verdict passion has its against the satisfaction popular act, will and pronounce will a give general never insisted that this people. We have order money to to the cannot leather, that Congress or stamped of paper, of its choice, be coined other substance a legal tender. or any the same under the always be made a and Constitution Webster declare nothing insisted but could that coius of gold but we tender for debt that question or legal silver, point waive we established, either and now. The never been assailed by present which reason has or argument, is stamped that the or coined as paper issues were merely not promises to pay money: money; and are want therefore of conformity show upon When to their this the face their requirement. is constitutional fairly considered from the pressure by the of Supreme doubt finan- in Court, excitement, free we have little regard cial to the decision. the The article following of the extract Age of is Wednesday speculative from money demand for money from continues moderately is comparative The borrowers but there little business. inquiry active, purposes of legitimate collaterals for loans are made on stock Call cent., and there are excep at 4a5 per transactions in large 3 sams per upon cent. tional securities at is readily government The best paper commercial annum dis6a7 per cent. per during placed at The dry goods market means count. week, although by no improvethe pasi has shown a material and unactive, the previous dullness ment from feeling. Considerable prepara- opensettled made for an early low tion is being The extremely ing of which prices have buyers, in a number of has for au from point brought to business. advance. been forced Trade who the intend holding demauds by orders been stimulated for coninterior has to supply still unchanged, is ment sumption. Prices are an early improve- to ruling very confidentive low, but looked forward by many statement of our Philadelphia indi The for the present week clearly prevalent banks the dullness in business items, cates season. All the leading than in at this legal tenders, are lower fell off except preceding report. Loans $830,769, and the specie, $8,626: deposits tenders $36,091; circulation $3,892. Legal