Article Text
CASHIER AND BANK QUIT. Stockton, Cal., May 25.-Owing to the fact that Cashier Louis Kahn of the Oakdale bank shot himself yesterday the bank suspended business indefinitely.
890. Oakdale bank (Oakdale, CA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- May 25, 1905
- Location
- Oakdale, California (37.767, -120.847)
Metadata
- Model
- gpt-5-mini
- Short Digest
17d63778
Response Measures
None
Description
Cashier Louis Kahn shot himself (May 25), directors suspended business May 25–26; state bank commissioners called. Reports indicate heavy self-loans/embezzlement ($50,000–$100,000) and a receiver appointed by May 28. There was no widespread depositor run (few or no depositors).
Events (3)
1.
May 25, 1905
Other
- Newspaper Excerpt
- Cashier Louis Kahn of the Oakdale bank shot himself yesterday; condition is precarious; financial troubles believed to have prompted the act.
- Source
- newspapers
2.
May 25, 1905
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Cashier Louis Kahn shot himself; subsequent discovery of large self-loans/embezzlement (reported $50,000–$100,000) leading directors to suspend business indefinitely.
- Newspaper Excerpt
- Consequent upon the fact that Cashier Kahn of the Oakdale bank shot himself yesterday, the directors ... have suspended business indefinitely.
- Source
- newspapers
3.
May 28, 1905
Receivership
- Newspaper Excerpt
- The loaning to himself of $100,000 of bank funds on worthless securities ruined the institution, which is now in the hands of a receiver.
- Source
- newspapers
Newspaper Articles (10)
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Article Text
Suspended Indefinitely. Stockton, Cal., May 25.-Consequent upon the fact that Cashier Kahn of the Oakdale bank shot himself yesterday, the director of the institution of which Theo. B. Dorsey is the president, have The suspended business indefinitely. State Bank Commissioners have been sant for.
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Article Text
Bank Suspends Business. Stockton, Cal., May 25.-Consequent upon the fact that Cashier Kahn of the Oakdale bank shot himself yesterday, the directors of the institution, of which Thomas B. Dorsey is the president, have suspended business indefinitely. The bank commissioners have been sent for. The condition of the cashier, which is somewhat improved, is still precarious.
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Article Text
WHY THERE'S NO RUN The Collapsed Oakdale Bank Had No Depositors. Stockton, Calif., May 26.-The latest developments in the affairs of the Oakdale bank, the cashier of which, Louis Kahn, is lying at the point of death from a self inflicted bullet wound, which it is generally conceded even by his relatives, was fired with intent to commit suicide. are that the bank has totally collapsed. State bank commissioners are at work on the books of the bank today. It is believed now that the loss of the bank is due to loans which Kahn made to himself in the course of business and which will amount to $50,000. The loss will fall upon the stockholders, as there were no depositors to speak of, and it is this fact which accounts for the absence of a run on the concern when news of the shooting of Kahn spread about Oakdale.
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Article Text
OAKDALE BANK AFFAIRS IN VERY BAD CONDITION LOSSES WILL FALL ENTIRELY ON STOCKHOLDERS Were Practically No Depositors, Con. cern Being a Private One, Which Kahn Used in the Transaction of His Grain Business By Associated Press. STOCKTON, Cal., May 26.-The latest developments in the affairs of the Oakdale bank, the cashier of which, Louis Kahn, is lying at the point of death from a self-inflicted bullet wound, are that the bank has totally collapsed. A report will not be forthcoming for a day or two, but those who have been conversant with the affairs of the bank express the opinion that matters will be found in a much worse condition than at first reported. It is believed now that the losses of the bank through loans which Kahn made to himself in the course of business will amount to $50,000. This loss will fall upon the stockholders, as there were no deposits to speak of, and it is this fact which accounts for the absence of a run on the concern when the news of the shooting of Kahn spread about Oakdale. The two or three people who had small amounts in the bank withdrew their deposits during Wednesday. The Oakdale bank was little more than a private concern which Kahn used in the transaction of his large grain business. It formerly did a large banking business, but new banks at Oakdale and Modesto captured about all of the patronage. Being the principal stockholder and cashier, and he and his son being the financial committee, the latter also being the assistant cashier, Kahn was able to make large loans to himself. A special telephone message to the Mail this morning from Dr. Thompson, the attending surgeon, is to the effect that Mr. Kahn is worse today. While he may live through the day, there is little hope for his recovery. He has lapsed into a state of semi-consciousness. There is no feeling of uneasiness here regarding the local banks, as any one of them could shoulder the entire loss without inconvenience.
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Article Text
Indefinite Suspension. Stockton, Cal, May 26.-Consequent upon the fact that Cashier Kahn of the Oakdale bank shot himself, the directors of that institution, of which Thomas B. Dorsey is the president have suspended business indefinitely The state bank commissioners have been sent for. The condition of the cashier, which is somewhat improved is still precarious.
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Article Text
HAD FEW DEPOSITORS. Bank at Oakdale, Cal., Looted by the Cashier. Stockton, Cal., May 26.-The latest developments in the affairs of the Oakdate bank, the cashier of which, Louis Kahn, is lying at the point of death from a self-inflicted bullet wound, which. it is generally conceded even by his relatives. was fired wit hintent to commit suicide, are that the bank has totally collapsed. The state bank commissioners are at work on the books of the bank today. It is believed now that the loss of the bank through loans which Kahn made to himself in the course of business, will amount to $50,000. This loss will fall upon the stockholders, as there were no depositors to speak of. and it is this fact which accounts for the absence of a run on the concern when the news of the shooting of Kahn spread about Oakdale. The two or three people who had small amounts in the bank withdrew their deposits during Wednesday.
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Article Text
FINANCIAL TROUBLES CAUSE BANKER'S DEATH Oakdale Man Who Shot Himself Expires-Receiver Appointed for Institution By Associated Press. STOCKTON, May 28.-Louis Kahn, the Oakdale banker and grain man who shot himself with a revolver last Wednesday morning, it is believed with suicidal intent, passed away at noon today.' The deceased was 50 years of age and leaves besides a widow a son and two daughters. He died surrounded by his family. Financial troubles are believed to have prompted the banker to kill himself. The loaning to himself of $100,000 of bank funds on worthless securities ruined the institution, which is how in the hands of a receiver.
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Article Text
Cashier Shot Himself; P Suspends. Stockton, Cal., May : onsequent Kahn. of upon the fact that Ca mself Wedthe Oakdale bank, shot nesday, the directors 0 the institution, of which Thomas B. Dorsey is president, have suspended business indefinitely. The state bank commissioners have been sent fotr. The condition of the cashier is precarious.
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Article Text
California Bank Suspends Stockton, Cal., May 26.-Consequent upon the fact that Cashier Kahan of the Oakdale bank shot himself, the directors of the institution have suspended business indefinitely. The condition of the cashier is precarious.