860. Temple & Workman's Bank (Los Angeles, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 13, 1876
Location
Los Angeles, California (34.052, -118.244)

Metadata

Model
gpt-5-mini
Short Digest
e4d7970f

Response Measures

None

Description

The bank closed its doors and made an assignment to the Commercial Bank on Jan 13, 1876 (suspension). It appears to have re-opened briefly (discussed in March article) but ultimately remained closed with assignees/receivers and missing funds noted — no newspaper account of a depositor run, instead indications of mismanagement/deficiency (cashier arrest, missing deposits). Classified as suspension_closure (suspension with no run; eventual permanent closure/assignment).

Events (4)
1. January 13, 1876 Receivership
Newspaper Excerpt
The firm has made an assignment to the Commercial Bank of this place. ... What has become of the $188,400 of which no mention is made on the books or in the report ? Can the assignees explain or is this a problem that only the Bankrupt Court will solve ?
Source
newspapers
2. January 13, 1876 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed and made assignment amid reports of deficient funds and mismanagement; later arrest of cashier and alleged deficiencies in city treasurer accounts deposited in the bank.
Newspaper Excerpt
The Temple & Workman's Bank closed its doors this morning. The firm has made an assignment to the Commercial Bank of this place. There is but little excitement over the suspension.
Source
newspapers
3. March 31, 1876 Other
Newspaper Excerpt
H. S. Ledard, late Cashier of Temple & Workman's Bank, was arrested on the warrant ... He was also arrested on a civil suit ... The Finance Committee ... report a deficiency of $23,083 in the accounts of the late City Treasurer, J. J. Mellus, and recommend that immediate steps be taken against his bondsmen. The money it is alleged was on deposit in Temple & Workman's Bank when it suspended.
Source
newspapers
4. * Reopening
Newspaper Excerpt
Of the $310,000 borrowed of BALDWIN, $211,000 went into the bank on the day it re-opened. It is estimated that between the re-opening and final closing deposits to the amount of $200,000 went into its vaults.
Source
newspapers

Newspaper Articles (4)
1. January 15, 1876 Pioche Daily Record Pioche, NV
Article from Pioche Daily Record, January 15, 1876

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Article Text

PACIFIC COAST. At the annual meeting of the Consolidated Virginia to-day the old Board was re-elected. The Legislative Committee continued the investigation of steamships to-day. A number of caulkers, shipwrights and sea captains were examined. Some very direct evidence was given by mechanics as to the condition of the Pacific Mail and G. N. & P. companies' steamere, stating they were deemed shaky and dangerous. There was considerable sparring between the members of the committee about admitting evidence as to the seaworthiness of the Pacific, but finally decided to do so. Adjourned till to-morrow. The Examiner last night published an extract from a letter of the San Francisco correspondent of the New York Sun, detailing the proceedings commenced by Burling Bros., stock brokers, against the trustees of the Bank of California, to recover large amounts borrowed by the Burlings for account of the Bank or Ralston individually, the complaint charging the latter with misappropriating funds of the Bank to the amount of several millions. The matter was com. promised by William Sharon at sevent yfive cents on the dollar. Inquiry in the city to-day establishes the correctness of the report. The matter was purposely kept very quiet after the compromise. It is said other proceedings of a similar nature are pending, but have not yet been made public, and will very likely be also 0 compromised. SALT LAKE, Jan. 13.-The Legislature this afternoon voted to admit E. S. Foote, Gentile member from Toole, who had been excluded on account of cono tested election. 8 Los ANGELES, Jan. 13.-The Temple e & Workman's Bank closed its doors this d morning. The firm has made an assignd ment to the Commercial Bank of this e place. There is but little excitement over the suspension. e SAN DIEGO, Jan. 13.-A letter from e Julian says it has rained very hard, every y little gulch and canyon boiling. The hills are green and farmers anticipate a d grand season. All the mines are looking well and promise richly. Not an idle y man in camp. e

2. January 15, 1876 Los Angeles Daily Herald Los Angeles, CA
Article from Los Angeles Daily Herald, January 15, 1876

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Article Text

never complied with the resolution, but continued to exercise full control of the funds SO far as naming the place With this of deposit was concerned. explanation of a heretofore not understood matter, we proceed to give the information gleaned from Dame Rumor's thousand stories of yesterday. After hearing that the funds were part lost, half lost and all lost, forty or fifty times from as many different persons, we proceeded to interview City Treasurer MELLUS, and he gave us this statement: The funds are all safe; he drew the money on general deposit out of TEMPLE & WORKMAN'S Bank some time ago and he had but four thousand dollars in the suspended Bank when it closed its doors, which is on special deposit. The City Treasurer makes this statement and we give it to the HERALD readers in order that they may know what is said by those who ought to know whereof they speak.

3. March 17, 1876 Los Angeles Daily Herald Los Angeles, CA
Article from Los Angeles Daily Herald, March 17, 1876

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Article Text

HERE is a conundrum concerning TEMPLE & WORKMAN'S Bauk. Of the $310,000 borrowed of BALDWIN, $211,000 went into the bank on the day it re-opened. It is estimated that between the re-opening and final closing deposits to the amount of $200,000 went into its vaults. It comes we understand from the expert who examined the books that but $217,000 were paid out during the time the bank remained opened, and the report shows there were but $5,600 on hand when the bank suspended. Thus but $222,600 of $411,000 are accounted for. What has become of the $188,400 of which no mention is made on the books or in the report ? Can the assignees explain or is this a problem that only the Bankrupt Court will solve ?

4. April 1, 1876 Lyon County Times Yerington, Silver City, Dayton, NV
Article from Lyon County Times, April 1, 1876

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Article Text

Residence Burned. MARYSVILLE, Cal., March 31.The residence of Jonas Marcuse, at Yuba City, was burned this evening. Owing to the high wind at the time, and the advanced stage of the fire before its discovery, nothing was saved but a box of jewelry and silverware. The crigin of the fire is not known. The furniture was insured for $2,000. Loss not ascertained. A Defaulting Treasurer. Los ANGELES, March 31.--H. S. Led ard, late Cashier of Temple & Workman's Bank, was arrested on the warrant issued three days since, "and gave bail in seven thousand dollars, He was also arrested on a civil suit to-day, and required to give bail in the sum of $16,500. The Finance Committee of the City Council report a deficiency of $23,083 in the accounts of the late City Treasurer, J. J. Mellus, and reccommend that immediate steps be taken against his bondsmen. The money it is alleged was on deposit in Temple & Workman's Bank when it suspended. Two attempts were made yesterday to set fire to the old skating rink, while a gale was blowing. It thought the city is infested with thieves and burglars. A Republican convention is called to assemble here April 15th.