Ashley Bank - Ashley, IL

Episode Information

Episode UID: 8187519891213
Episode Type: Suspension → Closure
Bank Type: private
Bank ID: 818751989 hash
Start Date: January 27, 1901
Location: Ashley, Illinois (38.329, -89.191)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 4d34dff6d76f4df7

Response Measures

None

Description

Owner charged with misappropriation and cashier disappeared; vault closed.

Events (1)

1. January 27, 1901 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closed after Ellettsville attachment; owner Edmond Palmer jailed on charges of misappropriating bank funds and cashier disappeared.
Newspaper Excerpt: The banks at Desplaines and Ashley owned by Palmer, closed their doors two days after the Ellettsville bank was closed on attachments.
Source: newspapers

Newspaper Articles (1)

1. March 29, 1901 The Billings Gazette Billings, MT

Article from The Billings Gazette, March 29, 1901

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Article Text

CLAMOROUS DEPOSITORS Victims of Indiana Bank Failure Appeal to Courts for Relief. Bloomington, Ind., March 26Through her attorneys, Hanly & Wilson, Mrs. Henrietta D. Perry this afternoon applied to Judge W. H. Martin of the Monroe circuit court for a receiver to take charge of the Ellettsville bank. which was closed on attachment January 25 to satisfy the demand of Dow M. Woodal, a heavy depositor. The bank was owned and operated by Edmond Palmer of Chicago, who also conducted banks at both Desplaines and Ashley, Ills. The banks at Desplaines and Ashley owned by Palmer, closed their doors two days after the Ellettsville bank was closed on attachments. The aggregate failure amounts to $98,000. Palmer is in jail at Nashville, Ills., on the charge of misappropriating bank funds. More than 50 suits have been filed against him and his bank here by depositors. The vault has been closed since Cashier Fryhoffer's sudden disappearance from the city and no one knows the combination or what it contains. It is believed by many that not a dollar will be found when the doors are opened on an order of the court.