Discovery of large embezzlement and tampering with deposit records by cashier Ralph E. Jossman led to bank being described as 'wrecked' and closure.
Newspaper Excerpt
Deputy Attorney-General Lawler this morning made formal complaint against Ralph E. Jossman, cashier of the wrecked E. Jossman State Bank at Clarkston.
Source
newspapers
+8 days
2.September 18, 1913Receivership
Newspaper Excerpt
Elmer R. Webster was appointed receiver of the E. Jossman state bank at Clarkston by Judge George W. Smith in the circuit court here.
Source
newspapers
+60 days
3.November 17, 1913Other
Newspaper Excerpt
Ralph Jossman ... was sentenced to from seven to twenty years in the state prison at Jackson. He admitted he appropriated to his own use more than a hundred thousand of the bank's funds.
Source
newspapers
Newspaper Articles (13)
1.September 10, 1913The Detroit TimesDetroit, MI
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ENTER FORMAL COMPLAINT IN BANKER'S CASE Jossman Made Defendant in Action Brought by Deputy AttorneyGeneral TWO SEPARATE OFFENSES COMMITTED, HE STATES Casher is Charged With Embezzlement and With Tampering With Deposit Cards PONTIAC, Mich., Sept. 10.-Deputy Attorney-General Lawler this morning made formal complaint against Ralph E. Jossman, cashier of the wrecked E. Jossman State Bank at Clarkston. Jossiman is charged with embezzlement and with a violation of the banking laws, section 58, in shifting the deposit cards. The complaint will be signed by Banking Commissioner Doyle who will come to this city today. Joseman probably will be arraigned at once in the municipal court. Deputy Lawler stated upon his arrival here that it is his intention to ask Circuit Judge Smith today to name a receiver for the closed institution. Lawler reached here early to day and had a long conference with Prosecutor Doty who will prosecute the case against Jossman. The complaint followed.
2.September 18, 1913The Yale ExpositorYale, MI
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Webster Appointed Bank Receiver. Pontiac, Mich.-Elmer R. Webster was appointed receiver of the E. Jossman state bank at Clarkston by Judge George W. Smith in the circuit court here. The receiver was directed to file a bond for $25,000 within five days. Mr. Webster's appointment was unantmously indorsed Saturday afternoon at a meeting of creditors and depositors of the bank, held at Clarkston. E. R. Webster is one of the oldest and best known members of the Oakland county bar association, having been admitted to the practice of law in 1880.
3.October 22, 1913The Detroit TimesDetroit, MI
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Michigan News Notes CLARKSTON. - Residents have subscribed $20,000 for the establishment of a new bank to take the place of the wrecked E. Jossman State bank. Many of the subscribers are men who lost money in the first venture. ANN ARBOR.-George Ade, humorist, and John T. McCutcheon, cartoonist, will be guests of honor, Saturday evening, at the dedication of the new Sigma Chi fraternity house. Ade and McCutcheon were instrumental in the foundation of the Sigma Chi fraternity at Purdue university. PORT HURON.-A committee from the board of supervisors is investigating the advisability of the establishment of a county road gang at which men sentenced to jail for drunkenness could be given employment and their earnings sent to their wives and families. IRON MOUNTAIN-Gunard JohnSAGINAW.-One hundred residents of Birch Run have filed a petition with the board of supervisors asking permission to incorporate the village. Twenty-five others have filed a protest against such action.
4.November 17, 1913The Calumet NewsCalumet, MI
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SENTENCE MICHIGAN BANKER. Pontiac, Mich., Nov. 17.-Ralph Jossman, the defaulting cashier of the E. Jossman state bank of Clarkston, was sentenced to from seven to twenty years in the state prison at Jackson. He admitted he appropriated to his own use more than a hundred thousand of the bank's funds. The bank is in the hands of a receiver.
5.November 17, 1913Newark Evening Star and Newark AdvertiserNewark, NJ
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Bank Wrecker Sentenced PONTIAC, Mich., Nov. 7.-Ralph E. Jossman, defaulting cashier of the E. Jossman State Bank, of Clarkston, near here, was today sentenced to serve from seven to twenty years in the State prison at Jackson. He admitted having taken for his own use more than $100,000 of the bank's funds. The affairs of the bank are now in the hands of a receiver.
6.November 18, 1913The Salt Lake TribuneSalt Lake City, UT
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Cashier Sentenced. PONTIAC. Mich., Nov. 17.-Ralph 1 E. Jossman, defaulting cashing of the E. Jossman State bank of Clarkston. near here. was sentenced today to serve from seven to twenty years in the state prison at Backson. He admitted having taken for is own use more than $100,000 of, the bank's funds. The affairs of the bank are now in hte hands of a receiver.
7.November 18, 1913The Sentinel=recordHot Springs, AR
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BANKER SENTENCED. Pontiac, Mich., Nov. 17.-Railph E Jossman, defaulting cashier of the E. Jossman State Bank of Clarkston, near here, was today sentenced to serve from seven to twenty years in the state prison at Jackson. He admitted having taken for his own use more than $100,000 of the bank's funds. The affairs of the bank are now in the hands of a receiver.
8.November 18, 1913The Birmingham Age-HeraldBirmingham, AL
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Defaulter Sentenced Pontiac, Mich., November 17.-Ralph Jossman, defaulting cashier of the E. Jossman State bank of Clarkston, near here, was today sentenced to serve from seven to 37 years in the state prison at Jackson, Jossman admitted having taken for his own immediate use more than $100,000 of the bank's funds. The affairs of the bank are now in the hands receiver,
9.November 18, 1913Tulsa Daily WorldTulsa, OK
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Banker Gets Long Term. PONTIAC, Mich., Nov. 17.-Ralph E. Jossman, defaulting cashier of the E. Jossman state bank of Clarkston. near here, was today sentenced to serve from seven to twenty years in the state prison at Jackson. He admitted having taken for his own use more than $100,000 of the bank's funds. The affairs of the bank are now in the hands of a receiver.
10.November 27, 1913River Falls JournalRiver Falls, WI
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Judge Denounces Pardon System. Pontiac, Mich., Nov. 22.-Ralph E. Jossman, former cashier of the E. Jossman State bank of Clarkston, was sentenced to serve from seven to twenty years in state prison. He misappropriated more than $100,000 of the bank's money. The bank is in charge of a receiver. In sentencing Jossman the court told him not to worry, as no Michigan prison could hold a convicted banker for long, and went on to denounce the granting of pardons in the past.
11.March 23, 1914The Detroit TimesDetroit, MI
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# CASHIER MORRISON
# OUT ON PROBATION
Clarkston Bank Employe, Found
Guilty, Must Give Property
and Report for 5 Years
PONTIAC, Mich., March 23.-(Special.)-Clyde R. Morrison, assistant cashier of the defunct E. Jossman State Bank of Clarkston, convicted of making a false entry while an employe of that institution in 1908, was released on probation for five years by Judge Smith this morning.
Morrison is to pay $500 down to the court. This will settle the cost of the trial. He also is to turn over to the receiver of the bank the land contracts he holds to Highland Park property, valued at $2,500. During the first five months after his release he is to pay $25 a month to the receiver and after that time must pay $50 per month to the receiver until the remainder of his overdraft of $7,100 is paid.
He must report his conduct to the county agent once a month and must not leave the state without the permission of the court.
Morrison, who has been a resident of Detroit for three years, was arrested last fall. He gave bail in the sum of $15,000, but was surrendered by his bondsmen the day before Thanksgiving. He has been in jail here since that time. He has not made his plans public.
12.July 20, 1915The Detroit TimesDetroit, MI
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EFFORT AFOOT TO COLLECT $15,000 PONTIAC, Mich., July 20. Special.)-Elmer R. Webster, receiver for the defunct E. Jossman state bank of Clarkston, is making an effort to collect $15,000 from sureties of the defaulting cashier, Ralph E. Jossman, now in Jackson prison. The sureties are Harrison Walter, a farmer of near Clarkston. and Joseph Jossman, a brother of the prisoner. They signed his bond and it has never been paid. Legal points affecting the validity of continuing bonds are to be threshed out at the hearing.
13.December 1, 1916South Bend News-TimesSouth Bend, IN
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EMBEZZLER IS PAROLED R. E. Jossman is Released on Most Stringent Parole Ever Given. News-Times Special Service: LANSING, Mich., Dec. 1.-Ralph E. Jossman, the former Clarkston banker, who was paroled by Gov. Ferris after he had served three years of a seven year term for embezzlement, was released under the most stringent restrictions ever placed on a paroled prisoner. Former Banking Commissioner E. H. Doyle, whose discovery of the condition in the E. Jossman state bank of Clarkston was responsible for the closing of the bank and Ralph Jossman's conviction on a charge of embezzlement, has been named as Jossman's first friend. The former cashier has been given a position in the Ford factory at Detroit. Under the terms of his parole all his earnings in excess of $125 per month will go to the receivers of the E. Jossman state bank and will be pro-rated among the depositors. Jossman's accounts will be audited each month.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
