Bank of Madera - Madera, CA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 13, 1891
Location: Madera, California (36.961, -120.061)

Metadata

Model: gpt-5-mini
Short Digest: 7e09036e

Response Measures

None

Description

Articles (Nov 13–Dec 2, 1891) report the Bank of Madera was 'suspended' and 'wrecked' after its cashier (W. P./W. F./M. F. Baird in OCR variants) was found short nearly $100,000, having forged notes/checks and overissued stock. The Pacific Bank of San Francisco 'assumed control' and has remained in charge, consistent with permanent closure/takeover. I corrected inconsistent initials for Baird in OCR and used Nov 13, 1891 (Fresno dateline) as the suspension timing.

Events (2)

1. November 13, 1891 Receivership

Newspaper Excerpt: The Pacific Bank of San Francisco assumed control of the Madera Bank ... Pacific Bank has remained in charge since.
Source: newspapers

2. November 13, 1891 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Dishonesty/embezzlement and forging by the cashier W. Baird: short nearly $100,000, forged notes/checks and over‑issuing stock led to suspension.
Newspaper Excerpt: In the Conduct of & Bank at Madera-The Result is the Suspension of the Bank ... W. P. Baird ... is short in his accounts to the amount of nearly $100,000.
Source: newspapers

Newspaper Articles (3)

1. November 14, 1891 Wheeling Register Wheeling, WV

Article from Wheeling Register, November 14, 1891

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Article Text

A PENNSYLVANIAN. GOES TO CALIFORNIA AND PRACTICES PENNSYLVANIA METHODS. In the Conduct of & Bank at Madera-The Result is the Suspension of the Bank And Heavy Losses. FRESNO, CAL., November 13.-The fact has become public that W. P. Baird, until recently Vice President and Manager of the Bank of Madera, located at Madera, in the northern part of this county, is short in his accounts to the amount of nearly $100,000. Baird came to Madera from Pennsylvania a few years ago, and in connection with John Brown organized the Bank of Madera and what is known as the John Brown Colony. Some residents of Madera also became stockholders and directors. The capital stock of the bank was $100,000, with paid up capital of $25,000. A colony was projected and lands sold to about 300 colonists in different States and in counties in California, the principle being that of term payments as money was needed to develop the land. Whatever work was done on the colony lots seems to have been well done, but Baird, it is understood, began using colonists' money for his private schemes. One large scheme in which he sank considerable money was an attempt to colonize a large tract of land in Southern California. As the losses grew, Baird began to issue forged notes and deposit them in place of money used. The forging of checks and drafts followed, and later the over-issuing of stock, to which he forged the signature of R. Roberts, a wealthy resident of Madera as President. Owing to irregularities, particulars of which were not fully known at the time, the Pacific Bank of San Francisco assumed control of the Made"ra Bank in order to fully secure themselves against an over-draft by Madera Bank of about $90,000. Baird was deposed and the Pacific Bank has remained in charge since. He has made slight restitution and large promises. As yet no arrests have been made. The Pacific Bank is protecting the colonists to the fullest extent and improvements of the Colony lands are progressing steadily. The managers of colonies in and near Fresno denounce Baird's methods in the strongest possible terms, saying his schemes and plans have been vissionary from the first.

2. November 21, 1891 The Diamond Drill Crystal Falls, MI

Article from The Diamond Drill, November 21, 1891

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Article Text

LARGE. A REVIEW OF THF WEEKS DOINGS. An artesian well with a pressure of 125 pounds to the square inch and a flow of 370 gallons of water per minute was struck on the Brayton ranch, at Alpena, S. D. The Rev. Zach Eddy, the Congregationalist of Detroit. dead. John L. McCormick Jr., a prominent politician. committed suicide by poison at La Salle on account of unrequited love. William Van Arsdel of Monon, who killed Dora Thorpe with a beer glass, in October, was taken to Lafayette. gave $7,500 bail, and returned home. Dr. J. W. Hathaway of Sloux City has brought suit against the Republican of Algona, Iowa, for $10,000 damages for libel. Feveral of the crew of the bark Gylfe, wrecked off Kinsale, Ireland, were drowned. W. F. Baird, manager of the Bank of Madera, at Madera. Cal., is said to be nearly $100,000 short in his account. The Knights of Labor convention at Toledo, Ohio, adopted resolutions to be presented to the federation of labor, intended to settle the difficulties between the two orders. Twenty Indian boys from the remnant of the Pottawatomie tribe, which is domiciled in Southwestern Michigan, have been taken to the Haseell Institute at Lawrence, Kan. "A largely attended meeting of Democratic editors and politicians was held at Centralia. 111., to form the Southern Illinois Democratic Press asiation to serve as an adjunct to the Democratic State Central committee. Eleven miners were killed and two wsre injured by an explosion of fire damp in a mine at Essen, Germany. Business failures for the week numbered 291, compared with 226 last week and 266 in the corresponding week of 1890. Peter Hussong, a farmer, was struck by a New Orleans limited on the Illinois Central at Humbolt, III., and instantly killed. Forty members of the French Cham ber of Deputies belonging to the party of the Right have declined to acquiesce in the proposal that they coalesce with the Radicals for the purpose of upsetting the cabinet of M. de Freycinet. The Newport News and Mississippi Valley railroad will in a few days become a part of the Chesapeake and Chio system. The Missouri River Improvement Executive committee issued a call for a Missouri River Improvement convention, to be held in Kansas City, Dec. 15 and 16. Two negroes were lynched near Burnham, Tex. The negroes had participated in a negro dance row, and it is supposed they were hanged by enemies made there. It is said that the settlers of John Brown colony, in Fresno county, Cal., will not lose from any shortage that may exist in the a counts of W. F. Baird, of the Madera (Cal.) National bank. The twenty-seven breweries in Cincinnati. Covington and Newport are likely to be consolidated. The body of David Allen, a hunter and trapper, was found in a bear trap near Bracebridge, Ontario, Wednesday. He left his home about a month ago. Twenty tons of powder at Miller's Station, Ind., exploded, entirely destroying the plant and causing a loss of $75,000. Several houses were wrecked at Hobart, five milesdis ance. The California National bank at San Diego, Cal, closed its doors. James Boliver of Pittsburg. resigned from the Pennsylvania board of world's fair commissioners and Mayor Merritt was elected in his place. Ybor City, a suburb of Tampa, Fla. was partlp burned. Loss, about $250. 000; the insurance will not exceed $100,000. Orris C. Palmatier, formerly deputy county clerk of Richmond county, III., was arrested at St. Louis, Mo., charged with forgery. Fire at Addison, Mich., did $30,000 damage; partly insured. It is said that Josephus Collet of Terre Haute, Ind., contemplates building a railway parallel to the Chicago & Eastern Illinois to Danville. From July 1 to Nov. 1, 1891, $22,322, 773 in gold was returned from Europe to the United States During the month of October 32,946 pensions were granted, the first payments on which aggregated 4,358,665. Sept. 20, 1892. has been fixed by the executive committee and the council of administration of the Grand Army of the Republic as the date for the next grand encampment, which will be held at Washington. The bullion in the Bank of England increased £1,077,900 during the past week. Carnegie's steel works at Braddock, Pa., began a twenty-four hour run at 6 o'clock Thursday morning to break the world's rocord of 1,700 tons in twenty-four hours, made by the South Chicago relling mills. The Chinese lepers that have been at Vancouver. B. C., for several days have been turned loose. The board of directors of the National base ball league is in session at New York. John Trebar, a naturalized citizen of Deadwood S. D in military

3. December 2, 1891 The Pacific Commercial Advertiser Honolulu, HI

Article from The Pacific Commercial Advertiser, December 2, 1891

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Article Text

test for the Republican Presidential nomination and not interfere with each others strongholds. The winter has set in throughout the Eastern States with unusual severity, and at the present writing telegraphic communication with a large section of the country has been suspended on account of a great cyclone and blizzard. The railroad companies are unable to get cars to move the immense wheat crop of South Dakota. The Chicago anarchists have shown their teeth again. They undertook to hold one of their old time mass meetings for the purpose of denounc ing the government and making 2 demonstration. The police raided the place and after some resistance broke up the meeting. Many of the anarchists were armed and were ar rested. Arrangements are being made to lay a cable from the Bahama Island to the coast of Florida. The recent eclipse of the moon ha determined the fact that that body has no satellite. St. Louis has had a fire that cos her over one million dollars. The notorious Mrs. James Brown Potter has been divorced by her hus band. In the great football game a Springfield, Mass., Yale beat Har vard by a score of 10 to 0. A woman in Pennsylvania ha lived 141 days on a pint of butter milk per day. Fifteen lines of railroad havesecure terminal facilities at the World's Fai grounds. W. J. Florence the famous actor died on November 19th. The city of Brooklyn, N. Y., i threatened with a water famine. Governor Honey of Indiana died or November 23d. San Francisco failed to get the Re publican National Convention. I will be held in Minneapolis. The bank of Madera has beer wrecked through the dishonesty o M. F. Baird, the cashier. Baire when arrested and proven guilty by his own confession, surrendered his personal property. The California National Bank o San Diego has suspended. Its failure was due to bad management-to liberal to loans. The Cheyenne, Nevada bank close its doors on November 15th. The young cashier Geo. L. Beard, com mitted suicide on the following day Foreign News. A despatch from Teheran, the capi tal of Persia,states that the Mujtahid or high priest of the Shiah sect, which is the predominant religious sect o the country, its followers numbering nearly 7,000,000, recently fomented a revolt in Mazanderan, a province in Northern Persia. The Government took prompt measures, but the rebels made a determined resistance agains the Shah's soldiers. They were no defeated until 200 of their number hao been killed. A large number o rebels, including the leader-the priest- were taken prisoner, and summary justice will be meted out to them. Reports from Buenos Ayres indicate that a revolution in Argentine at at early day is very probable. European war talk grows hotter, and the powers continue to increase their military strength. Russia is said to be massing troops on the Polish frontier, and Austria is also strengthening her frontier guards The alleged alliance between France and Russia is causing a great deal o anxiety throughout Europe. Balmaceda's Minister of Agricul ture, who has been in hiding since the downfall of the Dictator, has commit ted suicide, because of his inability to escape from the country and his enemies. The influenza is spreading in Europe and causing great mortality in Germany and France. The extraordinary credit of ove 100,000,000 marks has been asked fo in the German budget for artillery intended for providing the army with a new kind of field gun which ha been perfected under the direction o Emperor William, Count von Wal dersee and General von Schlieffe. Dispatches from Guatemala say that Barillas is sending troops to th north from Quezaltenango for th purpose of intercepting the revolu tionists if they should cross over fron Mexico. The Mexican Governmen denies that it has been asked to sto the revolutionists from crossing th Mexican frontier to Guatemala, an says that it has no knowledge of any revolutionary movement against tha country. Dispatches from Salvado are to the effect that the Governmen of that republic is in a bad financia strait and is unable to pay the salarie of its employees.