Clear Lake Bank (Clear Lake, IA)

Episode Information

Episode UID
9734058791069
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
973405879 hash
Start Date
January 28, 1889
Location
Clear Lake, Iowa (43.138, -93.379)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ed175d9cea797e04

Response Measures

None

Description

Articles report the bank closed and a receiver appointed; there is minor inconsistency in initials for the owner in different reports.

Events (2)
1. January 28, 1889 Receivership
Newspaper Excerpt
Lizzie J. Fitch has been appointed receiver.
Source
newspapers
2. January 28, 1889 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier withdrew his interest and covered overdrafts by transferring overvalued real estate; bank crippled and closed.
Newspaper Excerpt
The Clear Lake bank... closed its doors to-day, putting the following notice on its doors: Hearing from supposed reliable sources that there was going to be a run... we thought it best to close and put it in the hands of a receiver.
Source
newspapers

Newspaper Articles (2)
1. January 29, 1889 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 29, 1889

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Article Text

AVERTING A RUN. The Doors of a Bank Are Hemitically Sealed. Special to the Globe. MASON CITY, Io., Jan. 28.-The Clear Lake bank, owned by Mrs. L. P. Jones, closed its doors to-day, putting the following notice ou its doors: Hearing from supposed reliable sources that there was going to be a run on the bank on its opening its doors Monday morning, we thought it best to close and put it in the hands of a receiver. Our books are solvent, and all accounts will be settled up at an FRANK P. JONES, Cashier. early date. The bank's attorney claims they have ample resources to pay all liabilities in full, and that the deposits only amounted to $17,000, with $9,000 in available overdrafts on hand. The cashier in explaining the cause of the trouble says that the bank was crippled several weeks ago when the cashier withdrew his; interest in the concern, turning over real estate property at an exorbitant value to pay his overdrafts. The county treasurer has $1,000 of county funds deposited in the bank and $1.100 of the district school fund is on deposit. Lizzie J. Fitch has been appointed receiver.

2. January 29, 1889 The Morning News Savannah, GA
Article from The Morning News, January 29, 1889

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Article Text

A Bank Run By a Woman. MASON CITY, Ia., Jan. 28.-The Clear Lake Bank, owned by Mrs. P. L. Jones, closed its doors to-day. It is claimed that the depositors will lose nothing. The deposits amount to but $17,000, and there is nearly $100,000 available at the present time. Miss Lizzie J., Fitch has been appointed receiver.