Bank of Remington (Remington, IN)

Episode Information

Episode UID
8727482091296
Episode Type
Run → Suspension → Closure
Bank Type
private
Bank ID
872748209 hash
Start Date
December 1, 1907*
Location
Remington, Indiana (40.761, -87.151)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
39f221b60e190fd6

Response Measures

None

Description

Closure appears permanent and owner was later convicted of embezzlement.

Events (3)
1. December 1, 1907* Run
Cause
Local Banks
Cause Details
Runs and failures at Ambia, Goodland and Fowler triggered heavy withdrawals from Remington.
Measures
Owner closed the bank and agreed to turn over private property to meet liabilities.
Newspaper Excerpt
About $35,000 was withdrawn in three days.
Source
newspapers
2. December 7, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Examiner discovered double books and embezzlement/insolvency by owner Robert Parker; bank closed.
Newspaper Excerpt
The bank of Remington closed its doors Dec. 7, 1907.
Source
newspapers
3. April 23, 1908 Other
Newspaper Excerpt
Robert Parker...was on his way to Michigan City to serve a term of from two to fourteen years for embezzlement.
Source
newspapers

Newspaper Articles (2)
1. December 22, 1907 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, December 22, 1907

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Article Text

PRIVATE PROPERTY GIVEN BY BANKER Consents to Turn All to Meet Liabilities. RUN CAUSES A CRASH. Indianapolis, Ind.. Dec. 21.-John Billheimer, auditor of state, believes that the bank of Remington, a private bank at Remington, is insolvent, but he has not received any definite information as to the cause of its failure. The bank was closed by Robert Parker, its owner, who notified Billheimer of his action. The closing of the banks at Ambia. Goodland and Fowler. is said to have caused a run on the Remington bank that it could not withstand. About $35,000 was withdrawn in three days. Mr. Parker, who established the bank 31 years ago, has agreed to turn over all of his private property to make good the loss, and it is believed that he will be able to pay about 75 cents on the dollar. D. P. Baldwin, of Logansport, was here today consulting with his attorneys about the failure of the banks at Ambia, Goodland and Fowler. Albert Jenkins. one of the attorneys, said that the banks probably will be able to pay the depositors in full.

2. April 23, 1908 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, April 23, 1908

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Article Text

BANKER PARKER GETS HIS SENTENCE Now Has to Serve in Pen for Embezzlement. Rensselaer, Ind., April 23.-Robert Parker, the Remington, Ind.) bank wrecker, came to Rennselaer after he had been to St. Louis, where he said farewell to his wife and family. and two hours and twenty-four minutes after his arrival was on his way to Michigan City to serve a term of from two to fourteen years for embezzlement. He pleaded guilty to each of the six indictments. There were few traces in Parker's face of the ordeal of parting with his family when he appeared before Judge Hanly. As each indictment was read he gasped almost inaudibly, and then regained his composure. The bank of Remington closed its doors Dec. 7, 1907. and at first the suspension was thought by friends of Parker to be only temporary. but State Auditor Billheimer and Bank Examiner Hinshaw made revelations. The examiner discovered that Parker had kept two sets of books, one exhibiting a part of the transactions of the bank that looked to:be all right, and the other showing the transactions that seemed to be a little uncertain of passing the approval of the examiner when he came around.