8963. E Jossman State Bank (Clarkston, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 10, 1913
Location
Clarkston, Michigan (42.736, -83.419)

Metadata

Model
gpt-5-mini
Short Digest
ac5964ac

Response Measures

None

Description

No run is described. The bank is described as 'wrecked' and was placed in the hands of a receiver after the cashier Ralph E. Jossman admitted embezzling over $100,000. Receiver appointed in mid-September 1913 and the bank remained in receivership; cashier sentenced November 17, 1913. No reopening reported.

Events (3)

1. September 10, 1913 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Embezzlement and tampering with deposit cards by cashier Ralph E. Jossman leading to insolvency/closure.
Newspaper Excerpt
Deputy Attorney-General Lawler this morning made formal complaint against Ralph E. Jossman, cashier of the wrecked E. Jossman State Bank at Clarkston...it is his intention to ask Circuit Judge Smith today to name a receiver for the closed institution.
Source
newspapers
2. September 18, 1913 Receivership
Newspaper Excerpt
Elmer R. Webster was appointed receiver of the E. Jossman state bank at Clarkston by Judge George W. Smith in the circuit court here. The receiver was directed to file a bond for $25,000 within five days....appointment was unanimously indorsed at a meeting of creditors and depositors of the bank, held at Clarkston.
Source
newspapers
3. November 17, 1913 Other
Newspaper Excerpt
Ralph Jossman, the defaulting cashier of the E. Jossman state bank of Clarkston, was sentenced to from seven to twenty years in the state prison at Jackson. He admitted he appropriated to his own use more than a hundred thousand of the bank's funds. The bank is in the hands of a receiver.
Source
newspapers

Newspaper Articles (11)

Article from The Detroit Times, September 10, 1913

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Article Text

ENTER FORMAL COMPLAINT IN BANKER'S CASE Jossman Made Defendant in Action Brought by Deputy AttorneyGeneral TWO SEPARATE OFFENSES COMMITTED, HE STATES Casher is Charged With Embezzlement and With Tampering With Deposit Cards PONTIAC, Mich., Sept. 10.-Deputy Attorney-General Lawler this morning made formal complaint against Ralph E. Jossman, cashier of the wrecked E. Jossman State Bank at Clarkston. Jossiman is charged with embezzlement and with a violation of the banking laws, section 58, in shifting the deposit cards. The complaint will be signed by Banking Commissioner Doyle who will come to this city today. Joseman probably will be arraigned at once in the municipal court. Deputy Lawler stated upon his arrival here that it is his intention to ask Circuit Judge Smith today to name a receiver for the closed institution. Lawler reached here early to day and had a long conference with Prosecutor Doty who will prosecute the case against Jossman. The complaint followed.


Article from The Detroit Times, September 16, 1913

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Article Text

WEBSTE FOR JOSS Pontiac Attorney Unwind Tangled Affairs Clarkston Institution PONTIAC, Mich., Sept. cial.)-Elmer R. Webster, local attorney and director of Pontiac Savings bank, will be named as receiver of the wrecked E. Joseman State bank, at Clarkston, by Judge Smith, it became/known today, Approval was given the appointment of Webster at a meeting of the w positors and creditors of the bank at Clarkstown, Saturday afternoon, which was attended by 200 people. Jossman was forced yesterday to give up his comfortable quarters in the woman's ward at the jail, as an insane woman was brought there for detention. He was placed in the juvenile cell, a room four by six feet He will be arraigned in the circuit court this week. Job Printing Done Right. Printing Co., 15 John R-st.


Article from The Yale Expositor, September 18, 1913

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Article Text

Webster Appointed Bank Receiver. Pontiac, Mich.-Elmer R. Webster was appointed receiver of the E. Jossman state bank at Clarkston by Judge George W. Smith in the circuit court here. The receiver was directed to file a bond for $25,000 within five days. Mr. Webster's appointment was unantmously indorsed Saturday afternoon at a meeting of creditors and depositors of the bank, held at Clarkston. E. R. Webster is one of the oldest and best known members of the Oakland county bar association, having been admitted to the practice of law in 1880.


Article from The Detroit Times, October 22, 1913

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Article Text

Michigan News Notes CLARKSTON. - Residents have subscribed $20,000 for the establishment of a new bank to take the place of the wrecked E. Jossman State bank. Many of the subscribers are men who lost money in the first venture. ANN ARBOR.-George Ade, humorist, and John T. McCutcheon, cartoonist, will be guests of honor, Saturday evening, at the dedication of the new Sigma Chi fraternity house. Ade and McCutcheon were instrumental in the foundation of the Sigma Chi fraternity at Purdue university. PORT HURON.-A committee from the board of supervisors is investigating the advisability of the establishment of a county road gang at which men sentenced to jail for drunkenness could be given employment and their earnings sent to their wives and families. IRON MOUNTAIN-Gunard JohnSAGINAW.-One hundred residents of Birch Run have filed a petition with the board of supervisors asking permission to incorporate the village. Twenty-five others have filed a protest against such action.


Article from The Calumet News, November 17, 1913

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Article Text

SENTENCE MICHIGAN BANKER. Pontiac, Mich., Nov. 17.-Ralph Jossman, the defaulting cashier of the E. Jossman state bank of Clarkston, was sentenced to from seven to twenty years in the state prison at Jackson. He admitted he appropriated to his own use more than a hundred thousand of the bank's funds. The bank is in the hands of a receiver.


Article from The Salt Lake Tribune, November 18, 1913

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Article Text

Cashier Sentenced. PONTIAC. Mich., Nov. 17.-Ralph 1 E. Jossman, defaulting cashing of the E. Jossman State bank of Clarkston. near here. was sentenced today to serve from seven to twenty years in the state prison at Backson. He admitted having taken for is own use more than $100,000 of, the bank's funds. The affairs of the bank are now in hte hands of a receiver.


Article from The Sentinel=record, November 18, 1913

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Article Text

BANKER SENTENCED. Pontiac, Mich., Nov. 17.-Railph E Jossman, defaulting cashier of the E. Jossman State Bank of Clarkston, near here, was today sentenced to serve from seven to twenty years in the state prison at Jackson. He admitted having taken for his own use more than $100,000 of the bank's funds. The affairs of the bank are now in the hands of a receiver.


Article from The Birmingham Age-Herald, November 18, 1913

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Article Text

Defaulter Sentenced Pontiac, Mich., November 17.-Ralph Jossman, defaulting cashier of the E. Jossman State bank of Clarkston, near here, was today sentenced to serve from seven to 37 years in the state prison at Jackson, Jossman admitted having taken for his own immediate use more than $100,000 of the bank's funds. The affairs of the bank are now in the hands receiver,


Article from Tulsa Daily World, November 18, 1913

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Article Text

Banker Gets Long Term. PONTIAC, Mich., Nov. 17.-Ralph E. Jossman, defaulting cashier of the E. Jossman state bank of Clarkston. near here, was today sentenced to serve from seven to twenty years in the state prison at Jackson. He admitted having taken for his own use more than $100,000 of the bank's funds. The affairs of the bank are now in the hands of a receiver.


Article from River Falls Journal, November 27, 1913

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Article Text

Judge Denounces Pardon System. Pontiac, Mich., Nov. 22.-Ralph E. Jossman, former cashier of the E. Jossman State bank of Clarkston, was sentenced to serve from seven to twenty years in state prison. He misappropriated more than $100,000 of the bank's money. The bank is in charge of a receiver. In sentencing Jossman the court told him not to worry, as no Michigan prison could hold a convicted banker for long, and went on to denounce the granting of pardons in the past.


Article from The Detroit Times, March 23, 1914

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Article Text

# CASHIER MORRISON # OUT ON PROBATION Clarkston Bank Employe, Found Guilty, Must Give Property and Report for 5 Years PONTIAC, Mich., March 23.-(Special.)-Clyde R. Morrison, assistant cashier of the defunct E. Jossman State Bank of Clarkston, convicted of making a false entry while an employe of that institution in 1908, was released on probation for five years by Judge Smith this morning. Morrison is to pay $500 down to the court. This will settle the cost of the trial. He also is to turn over to the receiver of the bank the land contracts he holds to Highland Park property, valued at $2,500. During the first five months after his release he is to pay $25 a month to the receiver and after that time must pay $50 per month to the receiver until the remainder of his overdraft of $7,100 is paid. He must report his conduct to the county agent once a month and must not leave the state without the permission of the court. Morrison, who has been a resident of Detroit for three years, was arrested last fall. He gave bail in the sum of $15,000, but was surrendered by his bondsmen the day before Thanksgiving. He has been in jail here since that time. He has not made his plans public.