A. Castetter (Blair, NE)

Episode Information

Episode UID
8259879091454
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
825987909 hash
Start Date
February 26, 1921
Location
Blair, Nebraska (41.544, -96.125)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c3eb8144ee8ceb7b

Response Measures

None

Description

President F. H. (Fred) Claridge disappeared amid alleged misappropriation; receiver later appointed.

Events (2)
1. February 26, 1921 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank found heavily involved while president F. H. Claridge disappeared amid alleged misappropriation of funds.
Newspaper Excerpt
Claridge disappeared on February 26, when the bank was found to be heavily involved.
Source
newspapers
2. March 16, 1921 Receivership
Newspaper Excerpt
James Hart appointed receiver for the banking house of A. Castetter, Blair institution which recently failed, by Judge A. C. Wakely of Omaha yesterday afternoon.
Source
newspapers

Newspaper Articles (5)
1. March 11, 1921 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, March 11, 1921

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Article Text

State Bankers Meet Today to Discuss Failure State Officials Invited for Meeting-Hart Denies Statement Printed in Omaha. Lincoln, March 10.-(Special Telegram.)-Officers in state banks of Nebraska will meet in Omaha Friday to discuss the recent failures of institutions operating under the guarantee fund, the largest of which is the banking house of A. Castetter at Blair. State officials have been invited in attend Secretary J. E. Hart of the department of banking and commerce announced that the guarantee fund was approximately $2,700,000. Secretary Hart denied statements published in the Omaha Word-Herald that F. H. Claridge, missing president of the bank. has been cleared of misappropriating funds. He stated that the final report of the examiners would not be received until Friday, but that early reports did not authorize any such statement. He also denied that he said the loss would total $500,000, saying the amount could not be determined before the final report. Attorney General Clarence A. Davis said, "I have no doubt but that criminal actions can be taken upon receipt of the report from the bank examiners at Blair." Mr. Davis will go to Blair Friday after receiving the report and confer with Coun. ty Attorney Grace Ballard on what action is necessary. Mr. Davis will endeavor to go to Omaha from Blair in time to attend the meeting of state bankers. He was prevented from going to Blair today by not receiving the report and a meeting of the pardon board. Citizens of Hadar conferred with the attorney general today on plans by which they hope to rejuvenate the bank recently closed in that city. In case a receiver for the bank is appointed it will be necessary to make application in the district court and one of the Omaha judges will make the appointment.

2. March 16, 1921 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, March 16, 1921

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Article Text

James Hart Appointed Receiver for Blair Bank Which Failed James E. Hart of Lincoln, secretary of the state board of trade and commerce, was appointed receiver for the banking house of A. Castetter, Blair institution which recently failed, by Judge A. C. Wakely of Omaha yesterday afternoon. The appointment was made at the suggestion of Attorney General Clarence A. Davis, who, together with Mr. Hart and Judge Wakely, was in Blair yesterday. Mr. Hart was placed under a $100,000 bond, took the oath and was qualified. It is understood that his appointment meets the approval of all concerned, as he is a technical banker and has been connected with the state banking board for a number of years. Authorities are still seeking Fred H. Claridge, president of the bank. who disappeared mysteriously, and for whose arrest a warrant has been issued. Funds of the bank are estimated as between $200,000 and $400,000 short.

3. July 17, 1921 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, July 17, 1921

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Article Text

Bankruptcy Asked for Missing Blair Banker A petition to have E. H. Claridge, missing president of the defunct banking house of A. Castetter, at Blair, declared bankrupt was filed in United States district court yesterday by William Meir of Blair, the law firm, Tunberg & Holmquist, and Harry A. Nelson of Omaha. These petitioners say they are creditors of Claridge for more than $1,500 and that James E. Hart, receiver for the banking house, is showing preference for the bank over creditors. As a specific instance of this alleged preference they cite his act of attaching two automobiles, one a Stutz, and a section of land belonging to Claridge, for the benefit of the bank.

4. September 1, 1921 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, September 1, 1921

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Article Text

Claridge to Take Job in Omaha Store Former Blair Banker to Become Credit Man in Omaha Department Store, Effective Monday. Trusted By Employer Fred H. Claridge, former bank president at Blair, Neb., who returned to his wife and friends Monday after a disappearance of six months, has accepted a position as assistant credit man at Brandeis Stores. Claridge will begin work next Monday as assistant to Guy Cramer. He was elated over the offer and declared he would make his home in Omaha. T. F. Quinlan. general manager of the Brandeis Stores, telephoned Claridge Tuesday and asked him if he would work in Omaha. The former banker stated he would "do any kind of work to get back on his feet." In Omaha Today. Yesterday Claridge appeared in Quinlan's office with his attorney, Frank Howell, and made arrangements to take the position. "I've known Mr. Claridge for 30 years," Quinlan stated. "I realize the circumstances in which he was involved. He has always shown himself honest and throughly com$ petent. He's without a dollar in the world and we needed a good man to I take this position, so we offered it to him. I have the utmost confidence in him." George Brandeis, president of Brandeis' store, who also has known Claridge for some time, declared he has implicit trust in the man. "Can Be Trusted." "His dealings with his fellow men have shown that Mr. Claridge can be trusted," said Brandeis. I Claridge is under $10,000 bond, signed by friends in Blair, to appear in district court there next October to answer charges of violating the P o state banking laws. As president of t the banking house of A. Castetler, 1 one of the oldest institutions in Net braska, Claridge disappeared on b February 26. when the bank was 1 found to be heavily involved. E Friends Furnish ,Home. g Claridge has been tendered a fur1 nished home in Blair, to "live in as a long as he likes free of charge," it a was learned today. The offer of the home was made by Mrs. Annie Martin. assistant couno ty treasurer, according to word if reaching here. Mrs. Martin is a sister of Miss Mary Cook. who worked b E in the Banking House of A. Castetter for many years. i 1 Many other residents of-Blair have endeavored to convince Claridge he f should remain in his old home town. it is said. Claridge's own home is f t by Receiver Bodie of the house. defunct occupied banking Mrs. Clarb o idge had shipped a part of the furniture to Cleveland, O., but some of Claridge's most treasured belongings h still remain in his old home, it is c said.

5. November 27, 1927 The Omaha Morning Bee-News Omaha, NE
Article from The Omaha Morning Bee-News, November 27, 1927

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Article Text

$655,104 Paid Out of Bank's Assets Guaranty Fund Not Yet Levied on in Case of State Bank of Blair. -How the guarantee fund commission has been able to pay off $655,104 to dépositors of the State Bank of Blair, Neb., without calling on the guarantee fund for a dollar, and will be abe to pay some of the $286,968 liabilities till owing out of assets still held by the commission, was explained here Friday by Secretary Van E. Peterson of the commission. Two Cases Contrasted. The handling of the State Bank of Blair case in marked contrast to the handling of the banking house of A. Castetter. Blair. The Castetter bank failed in March. 1921 owing its depositors $863,684. The bank's receiver drew on the guarantee fund for $698,786 several years ago, and Issued receiver's note in addition for $50,000. Since the commission took over the matter, it has paid off the receiver's notes. paid back $95 into the guarantee fund. and may realize $70,000 more from assets, making the probable net loss $533,000. Net Loss 60 Per Cent Less. In the case of the State Bank of Blair, initial liabilities to depositors were $942,072. about $80. 000 more than in the case of the Castetter bank, and the commission, while keeping the bank open," reduced liabilities from $942,072 to $573,936. With the sale of the bank this week to the Farmers' State bank, Blair, the commission realized and paid depositors 50 per cent of the remainder, $286,968. The commission hopes to realize about $60,000 more from assets it still holds, making the net loss only about 40 per cent as great as in the Castetter bank, although the depositors were owed more. Operation Cost Cut Heavily. It cost $59,039 to operate the Castetter bank in the two years and three months before the commission took it over, and in the four years and three months in which the commission handled the bank, the cost was $12,729. The net operating costs of the bank of Blair in three years and five months was $6,533. started by Dr. C. C. Gafford, owner of the location on Main street, where the A. J. Morford restaurant and confectionery store burned six weeks ago when the gasoline tank of a popcorn machine caught fire while the burners were being generated by Morford.